ECOPOWER: what changed
Two fiscal 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.
What changed
ECOPOWER
NACE 35.120, Electricity, gas, steam and air conditioning supply
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.4m
2024 · -€894,181+€6.3m
Equity
€66.1m
2024 · €63.1m+€3.0m
Cash
€1.2m
2024 · €1.0m+€152,339
Balance sheet total
€94.8m
2024 · €87.3m+€7.5m
Largest movements
Assets
- Current investments +€6.0m
up €6.0m (+35656.0%), from €16,797 to €6.0m
- Financial fixed assets +€3.2m
up €3.2m (+46.1%), from €7.0m to €10.2m
of which Companies linked by participating interests: +€3.2m
- Receivables within one year -€2.1m
down €2.1m (-18.1%), from €11.4m to €9.3m
of which Other amounts receivable: -€4.2m
- Tangible fixed assets +€1.3m
up €1.3m (+1.9%), from €65.1m to €66.4m
of which Plant, machinery and equipment: +€12.2m
Equity and liabilities
- Trade debts -€3.2m
down €3.2m (-24.9%), from €12.8m to €9.6m
- Other debts +€3.1m
up €3.1m (+96016.0%), from €3,195 to €3.1m
- Debts after one year +€2.4m
up €2.4m (+34.0%), from €7.0m to €9.4m
of which Financial debts: +€2.0m
- Reserves +€2.3m
up €2.3m (+264.7%), from €879,460 to €3.2m
of which Distributable reserves: +€2.3m
- Current portion of long-term debt +€1.4m
new in 2025: €1.4m
Income statement
- Turnover +€16.9m
up €16.9m (+30.8%), from €55.0m to €71.9m
- Goods and materials +€5.2m
up €5.2m (+11.5%), from €45.6m to €50.8m
of which Purchases: +€5.3m
- Depreciation +€1.3m
up €1.3m (+21.6%), from €5.8m to €7.0m
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.
Result 2024
-€894,181
Turnover
+€16.9m
Other operating income
-€247,920
Goods and materials
-€5.2m
Services and other goods
-€341,438
Staff costs
-€130,895
Depreciation
-€1.3m
Write-downs
-€707,849
Provisions
-€298,099
Other operating charges
-€36,179
Other operating items
-€1.8m
Financial income
-€327,350
Financial charges
-€313,378
Taxes
+€1,335
Result 2025
€5.4m
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.
From operations
+€15.7m
Investment
-€16.9m
Financing
+€1.4m
Cash 2024
€1.0m
From operations (derived)
+€15.7m
Net result for the year
+€5.4m
Depreciation
+€7.0m
Receivables after one year
+€7,200
Stocks and contracts
+€227,256
Receivables within one year
+€2.1m
Deferred charges and accrued income
+€154,510
Provisions
+€609,440
Trade debts
-€3.2m
Tax, wage and social debts
+€49,438
Other debts
+€3.1m
Accrued charges and deferred income
+€237,436
Investment (derived)
-€16.9m
Investment in fixed assets (net)
-€10.9m
Current investments
-€6.0m
Financing
+€1.4m
Debts after one year
+€2.4m
Current portion of long-term debt
+€1.4m
Contributions, distributions and other
-€2.4m
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,281,429 | €94,828,766 | +€7.5m | +8.6% |
| Fixed assets | 21/28 | €73,490,731 | €77,346,503 | +€3.9m | +5.2% |
| Intangible fixed assets | 21 | €1,374,956 | €749,144 | -€625,812 | -45.5% |
| Tangible fixed assets | 22/27 | €65,144,971 | €66,414,835 | +€1.3m | +1.9% |
| Land and buildings | 22 | €852,166 | €796,592 | -€55,574 | -6.5% |
| Plant, machinery and equipment | 23 | €49,606,582 | €61,760,473 | +€12.2m | +24.5% |
| Furniture and vehicles | 24 | €115,223 | €100,481 | -€14,741 | -12.8% |
| Other tangible fixed assets | 26 | €90,177 | €64,100 | -€26,077 | -28.9% |
| Assets under construction and advance payments | 27 | €14,480,823 | €3,693,188 | -€10.8m | -74.5% |
| Financial fixed assets | 28 | €6,970,804 | €10,182,524 | +€3.2m | +46.1% |
| Companies linked by participating interests | 282/3 | €6,901,775 | €10,121,775 | +€3.2m | +46.7% |
| Participating interests | 282 | €4,528,775 | €7,528,775 | +€3.0m | +66.2% |
| Amounts receivable | 283 | €2,373,000 | €2,593,000 | +€220,000 | +9.3% |
| Other financial fixed assets | 284/8 | €69,029 | €60,749 | -€8,280 | -12.0% |
| Shares | 284 | €10,600 | €10,600 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €58,429 | €50,149 | -€8,280 | -14.2% |
| Current assets | 29/58 | €13,790,698 | €17,482,263 | +€3.7m | +26.8% |
| Amounts receivable after more than one year | 29 | €89,280 | €82,080 | -€7,200 | -8.1% |
| Trade receivables | 290 | €89,280 | €82,080 | -€7,200 | -8.1% |
| Stocks and contracts in progress | 3 | €227,256 | - | -€227,256 | |
| Stocks | 30/36 | €227,256 | - | -€227,256 | |
| Raw materials and consumables | 30/31 | €15,266 | - | -€15,266 | |
| Finished goods | 33 | €211,990 | - | -€211,990 | |
| Amounts receivable within one year | 40/41 | €11,395,684 | €9,334,709 | -€2.1m | -18.1% |
| Trade receivables | 40 | €6,251,482 | €8,401,582 | +€2.2m | +34.4% |
| Other amounts receivable | 41 | €5,144,203 | €933,127 | -€4.2m | -81.9% |
| Current investments | 50/53 | €16,797 | €6,005,964 | +€6.0m | +35656.0% |
| Other investments | 51/53 | €16,797 | €6,005,964 | +€6.0m | +35656.0% |
| Cash at bank and in hand | 54/58 | €1,012,658 | €1,164,997 | +€152,339 | +15.0% |
| Deferred charges and accrued income | 490/1 | €1,049,023 | €894,513 | -€154,510 | -14.7% |
| Total equity and liabilities | 10/49 | €87,281,429 | €94,828,766 | +€7.5m | +8.6% |
| Equity | 10/15 | €63,098,893 | €66,092,913 | +€3.0m | +4.7% |
| Contributions | 10/11 | €60,636,500 | €61,338,000 | +€701,500 | +1.2% |
| Reserves | 13 | €879,460 | €3,207,579 | +€2.3m | +264.7% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €841,960 | €3,170,079 | +€2.3m | +276.5% |
| Investment grants | 15 | €1,582,933 | €1,547,334 | -€35,599 | -2.2% |
| Provisions and deferred taxes | 16 | €1,500,251 | €2,109,691 | +€609,440 | +40.6% |
| Provisions for liabilities and charges | 160/5 | €1,500,251 | €2,109,691 | +€609,440 | +40.6% |
| Other liabilities and charges | 164/5 | €1,500,251 | €2,109,691 | +€609,440 | +40.6% |
| Amounts payable | 17/49 | €22,682,285 | €26,626,162 | +€3.9m | +17.4% |
| Amounts payable after more than one year | 17 | €7,000,000 | €9,379,956 | +€2.4m | +34.0% |
| Financial debts | 170/4 | €7,000,000 | €8,966,733 | +€2.0m | +28.1% |
| Credit institutions | 173 | €7,000,000 | €8,966,733 | +€2.0m | +28.1% |
| Advances received on contracts in progress | 176 | - | €413,223 | +€413,223 | |
| Amounts payable within one year | 42/48 | €14,085,272 | €15,411,756 | +€1.3m | +9.4% |
| Current portion of amounts payable after more than one year | 42 | - | €1,400,090 | +€1.4m | |
| Trade debts | 44 | €12,822,281 | €9,631,641 | -€3.2m | -24.9% |
| Suppliers | 440/4 | €12,822,281 | €9,631,641 | -€3.2m | -24.9% |
| Taxes, remuneration and social security | 45 | €1,259,796 | €1,309,234 | +€49,438 | +3.9% |
| Taxes | 450/3 | €774,920 | €729,709 | -€45,211 | -5.8% |
| Remuneration and social security | 454/9 | €484,876 | €579,525 | +€94,648 | +19.5% |
| Other amounts payable | 47/48 | €3,195 | €3,070,791 | +€3.1m | +96016.0% |
| Accrued charges and deferred income | 492/3 | €1,597,013 | €1,834,450 | +€237,436 | +14.9% |
| Operating income | 70/76A | €58,153,911 | €73,490,396 | +€15.3m | +26.4% |
| Turnover | 70 | €54,966,657 | €71,910,110 | +€16.9m | +30.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€714,485 | -€211,609 | +€502,876 | +70.4% |
| Other operating income | 74 | €1,968,425 | €1,720,505 | -€247,920 | -12.6% |
| Non-recurring operating income | 76A | €1,933,314 | €71,390 | -€1.9m | -96.3% |
| Operating charges | 60/66A | €59,641,184 | €68,047,482 | +€8.4m | +14.1% |
| Goods for resale, raw materials and consumables | 60 | €45,572,289 | €50,799,107 | +€5.2m | +11.5% |
| Purchases | 600/8 | €45,441,995 | €50,783,460 | +€5.3m | +11.8% |
| Change in stocks: decrease (increase) | 609 | €130,294 | €15,647 | -€114,647 | -88.0% |
| Services and other goods | 61 | €4,314,185 | €4,655,623 | +€341,438 | +7.9% |
| Remuneration, social security and pensions | 62 | €4,584,959 | €4,715,854 | +€130,895 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,785,462 | €7,036,445 | +€1.3m | +21.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€865,892 | -€158,042 | +€707,849 | +81.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €311,341 | €609,440 | +€298,099 | +95.7% |
| Other operating charges | 640/8 | €245,228 | €281,407 | +€36,179 | +14.8% |
| Non-recurring operating charges | 66A | -€306,388 | €107,648 | +€414,036 | |
| Operating profit (loss) | 9901 | -€1,487,273 | €5,442,914 | +€6.9m | |
| Financial income | 75/76B | €692,926 | €365,575 | -€327,350 | -47.2% |
| Recurring financial income | 75 | €692,926 | €365,575 | -€327,350 | -47.2% |
| Income from current assets | 751 | €324,224 | €200,468 | -€123,755 | -38.2% |
| Other financial income | 752/9 | €368,702 | €165,107 | -€203,595 | -55.2% |
| Financial charges | 65/66B | €98,408 | €411,786 | +€313,378 | +318.4% |
| Recurring financial charges | 65 | €98,408 | €411,786 | +€313,378 | +318.4% |
| Debt charges | 650 | €67,712 | €377,127 | +€309,415 | +457.0% |
| Other financial charges | 652/9 | €30,695 | €34,659 | +€3,963 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | -€892,755 | €5,396,704 | +€6.3m | |
| Income taxes | 67/77 | €1,426 | €91 | -€1,335 | -93.6% |
| Taxes | 670/3 | €1,426 | €91 | -€1,335 | -93.6% |
| Profit (loss) for the period | 9904 | -€894,181 | €5,396,612 | +€6.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€894,181 | €5,396,612 | +€6.3m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.