C-Energy: 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.
C-Energy
Largest movements
- Financial fixed assets +€3.0m
up €3.0m (+94.6%), from €3.2m to €6.2m
- Receivables within one year -€1.9m
down €1.9m (-64.9%), from €2.9m to €1.0m
of which Other amounts receivable: -€2.0m
- Deferred charges and accrued income +€1.4m
up €1.4m (+1,854%), from €74,891 to €1.5m
- Other debts +€1.4m
up €1.4m (+25.9%), from €5.4m to €6.8m
- Trade debts +€560,662
up €560,662 (+144%), from €388,398 to €949,060
- Profit (loss) carried forward +€533,136
up €533,136 (+5.7%), from -€9.4m to -€8.9m
- Gross operating margin +€1.7m
up €1.7m, from -€664,150 to €1.0m
- Financial income +€670,647
up €670,647 (+1,109%), from €60,479 to €731,126
- Staff costs +€155,894
up €155,894 (+25.6%), from €609,244 to €765,139
- Financial charges +€106,667
up €106,667 (+31.8%), from €335,183 to €441,850
of which Financial charges: +€106,667
- Write-downs +€25,000
up €25,000, from -€25,000 to €0
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 | €6,183,620 | €8,696,738 | +€2.5m | +40.6% |
| Fixed assets | 21/28 | €3,177,513 | €6,182,013 | +€3.0m | +94.6% |
| Financial fixed assets | 28 | €3,177,513 | €6,182,013 | +€3.0m | +94.6% |
| Current assets | 29/58 | €3,006,107 | €2,514,724 | -€491,383 | -16.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,854,492 | €1,002,285 | -€1.9m | -64.9% |
| Trade receivables | 40 | €291,735 | €390,626 | +€98,891 | +33.9% |
| Other amounts receivable | 41 | €2,562,757 | €611,659 | -€2.0m | -76.1% |
| Cash at bank and in hand | 54/58 | €76,723 | €49,163 | -€27,560 | -35.9% |
| Deferred charges and accrued income | 490/1 | €74,891 | €1,463,276 | +€1.4m | +1,854% |
| Total equity and liabilities | 10/49 | €6,183,620 | €8,696,738 | +€2.5m | +40.6% |
| Equity | 10/15 | €259,036 | €792,172 | +€533,136 | +206% |
| Contributions | 10/11 | €9,518,600 | €9,518,600 | = | 0.0% |
| Reserves | 13 | €140,333 | €140,333 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €138,473 | €138,473 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,399,898 | -€8,866,762 | +€533,136 | +5.7% |
| Amounts payable | 17/49 | €5,924,584 | €7,904,566 | +€2.0m | +33.4% |
| Amounts payable within one year | 42/48 | €5,924,584 | €7,904,566 | +€2.0m | +33.4% |
| Trade debts | 44 | €388,398 | €949,060 | +€560,662 | +144% |
| Suppliers | 440/4 | €388,398 | €949,060 | +€560,662 | +144% |
| Taxes, remuneration and social security | 45 | €106,426 | €118,747 | +€12,320 | +11.6% |
| Taxes | 450/3 | €558 | €0 | -€558 | -100% |
| Remuneration and social security | 454/9 | €105,868 | €118,747 | +€12,878 | +12.2% |
| Other amounts payable | 47/48 | €5,429,760 | €6,836,760 | +€1.4m | +25.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €609,244 | €765,139 | +€155,894 | +25.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€25,000 | €0 | +€25,000 | |
| Other operating charges | 640/8 | €2,760 | €1,906 | -€854 | -31.0% |
| Non-recurring operating charges | 66A | €100 | €0 | -€100 | -100% |
| Gross operating margin | 9900 | -€664,150 | €1,010,904 | +€1.7m | |
| Operating profit (loss) | 9901 | -€1,251,254 | €243,860 | +€1.5m | |
| Financial income | 75/76B | €60,479 | €731,126 | +€670,647 | +1,109% |
| Recurring financial income | 75 | €60,479 | €731,126 | +€670,647 | +1,109% |
| Financial charges | 65/66B | €335,183 | €441,850 | +€106,667 | +31.8% |
| Recurring financial charges | 65 | €335,183 | €441,850 | +€106,667 | +31.8% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€1,525,957 | €533,136 | +€2.1m | |
| Income taxes | 67/77 | €1,377 | €0 | -€1,377 | -100% |
| Profit (loss) for the period | 9904 | -€1,527,334 | €533,136 | +€2.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,527,334 | €533,136 | +€2.1m |
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 27 October 2026 via checked.be.