DSE Electricity: 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.
DSE Electricity
Largest movements
- Receivables within one year +€40,057
up €40,057 (+29.4%), from €136,134 to €176,191
of which Trade receivables: +€33,217
- Tangible fixed assets -€37,524
down €37,524 (-17.2%), from €218,679 to €181,155
of which Furniture and vehicles: -€29,815
- Cash +€13,163
up €13,163 (+4.5%), from €290,771 to €303,934
mainly Net result for the year (+€208,641) and Depreciation (+€37,524)
- Debts after one year -€20,848
down €20,848 (-17.6%), from €118,694 to €97,846
- Trade debts +€14,475
up €14,475 (+57.3%), from €25,261 to €39,735
- Tax, wage and social debts +€12,301
up €12,301 (+30.0%), from €41,063 to €53,364
of which Taxes: +€12,587
- Other debts +€7,523
up €7,523 (+4.4%), from €172,126 to €179,649
- Gross operating margin -€23,594
down €23,594 (-5.9%), from €397,794 to €374,200
- Taxes -€4,774
down €4,774 (-6.9%), from €68,730 to €63,956
- Other operating charges -€4,636
down €4,636 (-72.7%), from €6,381 to €1,745
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.
Cash bridge derived
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 | €650,079 | €664,655 | +€14,575 | +2.2% |
| Fixed assets | 21/28 | €218,817 | €181,293 | -€37,524 | -17.1% |
| Tangible fixed assets | 22/27 | €218,679 | €181,155 | -€37,524 | -17.2% |
| Land and buildings | 22 | €146,816 | €142,566 | -€4,250 | -2.9% |
| Plant, machinery and equipment | 23 | €6,768 | €3,778 | -€2,990 | -44.2% |
| Furniture and vehicles | 24 | €60,490 | €30,675 | -€29,815 | -49.3% |
| Other tangible fixed assets | 26 | €4,605 | €4,136 | -€469 | -10.2% |
| Financial fixed assets | 28 | €138 | €138 | = | 0.0% |
| Current assets | 29/58 | €431,263 | €483,362 | +€52,099 | +12.1% |
| Amounts receivable within one year | 40/41 | €136,134 | €176,191 | +€40,057 | +29.4% |
| Trade receivables | 40 | €123,421 | €156,638 | +€33,217 | +26.9% |
| Other amounts receivable | 41 | €12,713 | €19,553 | +€6,840 | +53.8% |
| Cash at bank and in hand | 54/58 | €290,771 | €303,934 | +€13,163 | +4.5% |
| Deferred charges and accrued income | 490/1 | €4,358 | €3,237 | -€1,121 | -25.7% |
| Total equity and liabilities | 10/49 | €650,079 | €664,655 | +€14,575 | +2.2% |
| Equity | 10/15 | €272,571 | €273,213 | +€641 | +0.2% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €600 | €600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €600 | €600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €600 | €600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €265,971 | €266,613 | +€641 | +0.2% |
| Amounts payable | 17/49 | €377,508 | €391,442 | +€13,934 | +3.7% |
| Amounts payable after more than one year | 17 | €118,694 | €97,846 | -€20,848 | -17.6% |
| Financial debts | 170/4 | €118,694 | €97,846 | -€20,848 | -17.6% |
| Amounts payable within one year | 42/48 | €258,814 | €293,596 | +€34,782 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €20,365 | €20,848 | +€484 | +2.4% |
| Trade debts | 44 | €25,261 | €39,735 | +€14,475 | +57.3% |
| Suppliers | 440/4 | €25,261 | €39,735 | +€14,475 | +57.3% |
| Taxes, remuneration and social security | 45 | €41,063 | €53,364 | +€12,301 | +30.0% |
| Taxes | 450/3 | €36,204 | €48,792 | +€12,587 | +34.8% |
| Remuneration and social security | 454/9 | €4,858 | €4,572 | -€286 | -5.9% |
| Other amounts payable | 47/48 | €172,126 | €179,649 | +€7,523 | +4.4% |
| Remuneration, social security and pensions | 62 | €58,632 | €56,789 | -€1,844 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,482 | €37,524 | -€958 | -2.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,785 | +€1,785 | |
| Other operating charges | 640/8 | €6,381 | €1,745 | -€4,636 | -72.7% |
| Gross operating margin | 9900 | €397,794 | €374,200 | -€23,594 | -5.9% |
| Operating profit (loss) | 9901 | €294,299 | €276,359 | -€17,941 | -6.1% |
| Financial income | 75/76B | €236 | €1,563 | +€1,327 | +561.4% |
| Recurring financial income | 75 | €236 | €1,563 | +€1,327 | +561.4% |
| Financial charges | 65/66B | €5,450 | €5,324 | -€126 | -2.3% |
| Recurring financial charges | 65 | €5,450 | €5,324 | -€126 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €289,086 | €272,598 | -€16,488 | -5.7% |
| Income taxes | 67/77 | €68,730 | €63,956 | -€4,774 | -6.9% |
| Profit (loss) for the period | 9904 | €220,356 | €208,641 | -€11,714 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €220,356 | €208,641 | -€11,714 | -5.3% |
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 10 October 2026 via checked.be.