dnergy: 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.
dnergy
Largest movements
- Cash -€378,525
down €378,525 (-20.7%), from €1.8m to €1.4m
mainly Net result for the year (-€1.6m) and Investment in fixed assets (net) (-€1.2m)
- Receivables within one year +€214,344
up €214,344 (+105%), from €203,827 to €418,171
of which Trade receivables: +€230,498
- Intangible fixed assets +€191,577
up €191,577 (+9.2%), from €2.1m to €2.3m
- Receivables after one year +€50,356
up €50,356 (+40.0%), from €125,845 to €176,201
- Contributions +€1.7m
up €1.7m (+11.8%), from €14.4m to €16.1m
of which Capital: +€1.7m
- Profit (loss) carried forward -€1.6m
down €1.6m (-15.1%), from -€10.5m to -€12.1m
- Accrued charges and deferred income -€164,672
down €164,672 (-70.8%), from €232,467 to €67,796
- Trade debts +€144,093
up €144,093 (+90.9%), from €158,493 to €302,585
- Gross operating margin +€237,092
up €237,092 (+45.4%), from -€522,606 to -€285,514
- Staff costs -€151,560
down €151,560 (-29.8%), from €508,342 to €356,782
- Depreciation -€45,782
down €45,782 (-4.4%), from €1.0m to €997,776
- Other operating charges -€7,865
down €7,865 (-89.0%), from €8,833 to €968
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 | €4,299,797 | €4,380,871 | +€81,074 | +1.9% |
| Fixed assets | 21/28 | €2,119,300 | €2,309,987 | +€190,687 | +9.0% |
| Intangible fixed assets | 21 | €2,089,105 | €2,280,682 | +€191,577 | +9.2% |
| Tangible fixed assets | 22/27 | €1,005 | €15 | -€991 | -98.5% |
| Furniture and vehicles | 24 | €1,005 | €15 | -€991 | -98.5% |
| Financial fixed assets | 28 | €29,190 | €29,290 | +€100 | +0.3% |
| Current assets | 29/58 | €2,180,497 | €2,070,885 | -€109,613 | -5.0% |
| Amounts receivable after more than one year | 29 | €125,845 | €176,201 | +€50,356 | +40.0% |
| Other amounts receivable | 291 | €125,845 | €176,201 | +€50,356 | +40.0% |
| Amounts receivable within one year | 40/41 | €203,827 | €418,171 | +€214,344 | +105% |
| Trade receivables | 40 | €91,509 | €322,007 | +€230,498 | +252% |
| Other amounts receivable | 41 | €112,319 | €96,164 | -€16,154 | -14.4% |
| Cash at bank and in hand | 54/58 | €1,825,132 | €1,446,607 | -€378,525 | -20.7% |
| Deferred charges and accrued income | 490/1 | €25,693 | €29,906 | +€4,213 | +16.4% |
| Total equity and liabilities | 10/49 | €4,299,797 | €4,380,871 | +€81,074 | +1.9% |
| Equity | 10/15 | €3,872,196 | €3,981,830 | +€109,634 | +2.8% |
| Contributions | 10/11 | €14,378,304 | €16,078,304 | +€1.7m | +11.8% |
| Capital | 10 | €2,732,134 | €4,432,134 | +€1.7m | +62.2% |
| Issued capital | 100 | €2,732,134 | €4,432,134 | +€1.7m | +62.2% |
| Contributions outside capital | 11 | €11,646,170 | €11,646,170 | = | 0.0% |
| Share premium | 1100/10 | €11,646,170 | €11,646,170 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,506,108 | -€12,096,474 | -€1.6m | -15.1% |
| Amounts payable | 17/49 | €427,601 | €399,041 | -€28,560 | -6.7% |
| Amounts payable within one year | 42/48 | €195,134 | €331,246 | +€136,112 | +69.8% |
| Trade debts | 44 | €158,493 | €302,585 | +€144,093 | +90.9% |
| Suppliers | 440/4 | €158,493 | €302,585 | +€144,093 | +90.9% |
| Taxes, remuneration and social security | 45 | €36,641 | €28,660 | -€7,981 | -21.8% |
| Taxes | 450/3 | €454 | €0 | -€454 | -100% |
| Remuneration and social security | 454/9 | €36,187 | €28,660 | -€7,527 | -20.8% |
| Accrued charges and deferred income | 492/3 | €232,467 | €67,796 | -€164,672 | -70.8% |
| Remuneration, social security and pensions | 62 | €508,342 | €356,782 | -€151,560 | -29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,043,558 | €997,776 | -€45,782 | -4.4% |
| Other operating charges | 640/8 | €8,833 | €968 | -€7,865 | -89.0% |
| Non-recurring operating charges | 66A | €244 | €0 | -€244 | -100% |
| Gross operating margin | 9900 | -€522,606 | -€285,514 | +€237,092 | +45.4% |
| Operating profit (loss) | 9901 | -€2,083,582 | -€1,641,039 | +€442,543 | +21.2% |
| Financial income | 75/76B | €1,069 | €783 | -€286 | -26.7% |
| Recurring financial income | 75 | €1,069 | €783 | -€286 | -26.7% |
| Financial charges | 65/66B | €1,433 | €920 | -€513 | -35.8% |
| Recurring financial charges | 65 | €1,433 | €920 | -€513 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,083,946 | -€1,641,176 | +€442,770 | +21.2% |
| Income taxes | 67/77 | -€48,771 | -€50,810 | -€2,039 | -4.2% |
| Profit (loss) for the period | 9904 | -€2,035,175 | -€1,590,366 | +€444,809 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,035,175 | -€1,590,366 | +€444,809 | +21.9% |
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 22 October 2026 via checked.be.