ARS ENERGETICA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ARS ENERGETICA
Largest movements
- Cash +€11,329
up €11,329 (+12.8%), from €88,536 to €99,865
mainly Other debts (+€10,119) and Net result for the year (+€9,430)
- Tangible fixed assets -€8,762
down €8,762 (-30.2%), from €29,005 to €20,243
- Receivables within one year -€3,328
down €3,328 (-11.9%), from €28,021 to €24,693
of which Trade receivables: -€3,328
- Reserves -€11,670
down €11,670 (-13.2%), from €88,314 to €76,644
- Other debts +€10,119
up €10,119 (+69.6%), from €14,549 to €24,668
- Debts after one year -€7,000
down €7,000 (-38.7%), from €18,083 to €11,083
- Current portion of long-term debt +€7,000
up €7,000 (+100%), from €7,000 to €14,000
- Gross operating margin +€2,194
up €2,194 (+9.5%), from €23,051 to €25,244
- Taxes +€1,940
up €1,940 (+49.1%), from €3,952 to €5,892
- Depreciation -€873
down €873 (-9.1%), from €9,635 to €8,762
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €146,020 | €145,248 | -€773 | -0.5% |
| Fixed assets | 21/28 | €29,005 | €20,243 | -€8,762 | -30.2% |
| Tangible fixed assets | 22/27 | €29,005 | €20,243 | -€8,762 | -30.2% |
| Furniture and vehicles | 24 | €29,005 | €20,243 | -€8,762 | -30.2% |
| Current assets | 29/58 | €117,015 | €125,004 | +€7,990 | +6.8% |
| Amounts receivable within one year | 40/41 | €28,021 | €24,693 | -€3,328 | -11.9% |
| Trade receivables | 40 | €26,472 | €23,144 | -€3,328 | -12.6% |
| Other amounts receivable | 41 | €1,548 | €1,548 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €88,536 | €99,865 | +€11,329 | +12.8% |
| Deferred charges and accrued income | 490/1 | €458 | €446 | -€12 | -2.5% |
| Total equity and liabilities | 10/49 | €146,020 | €145,248 | -€773 | -0.5% |
| Equity | 10/15 | €94,514 | €82,844 | -€11,670 | -12.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €88,314 | €76,644 | -€11,670 | -13.2% |
| Distributable reserves | 133 | €88,314 | €76,644 | -€11,670 | -13.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,506 | €62,404 | +€10,898 | +21.2% |
| Amounts payable after more than one year | 17 | €18,083 | €11,083 | -€7,000 | -38.7% |
| Financial debts | 170/4 | €18,083 | €11,083 | -€7,000 | -38.7% |
| Amounts payable within one year | 42/48 | €33,423 | €50,664 | +€17,241 | +51.6% |
| Current portion of amounts payable after more than one year | 42 | €7,000 | €14,000 | +€7,000 | +100% |
| Trade debts | 44 | €3,888 | €4,658 | +€769 | +19.8% |
| Suppliers | 440/4 | €3,888 | €4,658 | +€769 | +19.8% |
| Taxes, remuneration and social security | 45 | €7,985 | €7,339 | -€647 | -8.1% |
| Taxes | 450/3 | €7,985 | €7,339 | -€647 | -8.1% |
| Other amounts payable | 47/48 | €14,549 | €24,668 | +€10,119 | +69.6% |
| Accrued charges and deferred income | 492/3 | €0 | €656 | +€656 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,635 | €8,762 | -€873 | -9.1% |
| Other operating charges | 640/8 | €754 | €591 | -€163 | -21.6% |
| Gross operating margin | 9900 | €23,051 | €25,244 | +€2,194 | +9.5% |
| Operating profit (loss) | 9901 | €12,662 | €15,891 | +€3,230 | +25.5% |
| Financial income | 75/76B | €0 | €147 | +€147 | +736,750% |
| Recurring financial income | 75 | €0 | €147 | +€147 | +736,750% |
| Financial charges | 65/66B | €925 | €717 | -€208 | -22.5% |
| Recurring financial charges | 65 | €925 | €717 | -€208 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €11,737 | €15,322 | +€3,585 | +30.5% |
| Income taxes | 67/77 | €3,952 | €5,892 | +€1,940 | +49.1% |
| Profit (loss) for the period | 9904 | €7,785 | €9,430 | +€1,645 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,785 | €9,430 | +€1,645 | +21.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.