EnDev-R: 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.
What changed
EnDev-R
NACE 35.110, Production of electricity from non-renewable sources
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€230,328
2025 · €131,443+€98,884
Equity
€2.4m
2025 · €2.4m+€30,328
Cash
€1.3m
2025 · €1.5m-€206,106
Balance sheet total
€4.1m
2025 · €4.3m-€224,852
Largest movements
Assets
- Tangible fixed assets -€520,902
down €520,902 (-19.5%), from €2.7m to €2.1m
of which Plant, machinery and equipment: -€276,609
- Intangible fixed assets +€324,831
new in 2026: €324,831
- Cash -€206,106
down €206,106 (-13.4%), from €1.5m to €1.3m
mainly Debts after one year (-€387,120) and Contributions, distributions and other (-€200,000)
- Receivables within one year +€135,831
up €135,831 (+188%), from €72,437 to €208,268
of which Trade receivables: +€164,344
Equity and liabilities
- Debts after one year -€387,120
down €387,120 (-30.8%), from €1.3m to €871,021
- Tax, wage and social debts +€89,396
new in 2026: €89,396
Income statement
- Services and other goods -€52,296
down €52,296 (-21.0%), from €249,276 to €196,980
- Financial income +€46,121
new in 2026: €46,121
- Taxes +€45,582
up €45,582 (+104%), from €43,814 to €89,396
- Other operating income +€33,165
up €33,165 (+6,009%), from €552 to €33,717
- Financial charges -€15,071
down €15,071 (-20.9%), from €72,000 to €56,929
From the 2025 result to the 2026 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 2025
€131,443
Turnover
-€2,435
Other operating income
+€33,165
Services and other goods
+€52,296
Other operating charges
-€1,290
Other operating items
+€1,538
Financial income
+€46,121
Financial charges
+€15,071
Taxes
-€45,582
Result 2026
€230,328
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€461,552
Investment
-€80,538
Financing
-€587,120
Cash 2025
€1.5m
From operations (derived)
+€461,552
Net result for the year
+€230,328
Depreciation
+€276,609
Receivables within one year
-€135,831
Deferred charges and accrued income
-€41,494
Provisions
+€13,832
Trade debts
-€8,759
Tax, wage and social debts
+€89,396
Other debts
+€40,000
Accrued charges and deferred income
-€2,529
Investment (derived)
-€80,538
Investment in fixed assets (net)
-€80,538
Financing
-€587,120
Debts after one year
-€387,120
Contributions, distributions and other
-€200,000
Cash 2026
€1.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,293,065 | €4,068,213 | -€224,852 | -5.2% |
| Fixed assets | 21/28 | €2,668,235 | €2,472,164 | -€196,071 | -7.3% |
| Intangible fixed assets | 21 | - | €324,831 | +€324,831 | |
| Tangible fixed assets | 22/27 | €2,668,235 | €2,147,333 | -€520,902 | -19.5% |
| Plant, machinery and equipment | 23 | €2,423,943 | €2,147,333 | -€276,609 | -11.4% |
| Assets under construction and advance payments | 27 | €244,293 | - | -€244,293 | |
| Current assets | 29/58 | €1,624,830 | €1,596,049 | -€28,781 | -1.8% |
| Amounts receivable within one year | 40/41 | €72,437 | €208,268 | +€135,831 | +188% |
| Trade receivables | 40 | €36,746 | €201,091 | +€164,344 | +447% |
| Other amounts receivable | 41 | €35,690 | €7,177 | -€28,513 | -79.9% |
| Cash at bank and in hand | 54/58 | €1,534,380 | €1,328,274 | -€206,106 | -13.4% |
| Deferred charges and accrued income | 490/1 | €18,013 | €59,507 | +€41,494 | +230% |
| Total equity and liabilities | 10/49 | €4,293,065 | €4,068,213 | -€224,852 | -5.2% |
| Equity | 10/15 | €2,357,319 | €2,387,646 | +€30,328 | +1.3% |
| Contributions | 10/11 | €1,639,480 | €1,639,480 | = | 0.0% |
| Capital | 10 | €1,639,480 | €1,639,480 | = | 0.0% |
| Issued capital | 100 | €1,639,480 | €1,639,480 | = | 0.0% |
| Reserves | 13 | €116,000 | €130,000 | +€14,000 | +12.1% |
| Non-distributable reserves | 130/1 | €116,000 | €130,000 | +€14,000 | +12.1% |
| Legal reserve | 130 | €116,000 | €130,000 | +€14,000 | +12.1% |
| Profit (loss) carried forward | 14 | €601,839 | €618,166 | +€16,328 | +2.7% |
| Provisions and deferred taxes | 16 | €85,299 | €99,131 | +€13,832 | +16.2% |
| Provisions for liabilities and charges | 160/5 | €85,299 | €99,131 | +€13,832 | +16.2% |
| Environmental obligations | 163 | €85,299 | €99,131 | +€13,832 | +16.2% |
| Amounts payable | 17/49 | €1,850,448 | €1,581,436 | -€269,012 | -14.5% |
| Amounts payable after more than one year | 17 | €1,258,141 | €871,021 | -€387,120 | -30.8% |
| Financial debts | 170/4 | €1,258,141 | €871,021 | -€387,120 | -30.8% |
| Other loans | 174 | €1,258,141 | €871,021 | -€387,120 | -30.8% |
| Amounts payable within one year | 42/48 | €581,561 | €702,197 | +€120,637 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €387,120 | €387,120 | = | 0.0% |
| Trade debts | 44 | €34,440 | €25,681 | -€8,759 | -25.4% |
| Suppliers | 440/4 | €34,440 | €25,681 | -€8,759 | -25.4% |
| Taxes, remuneration and social security | 45 | - | €89,396 | +€89,396 | |
| Taxes | 450/3 | - | €89,396 | +€89,396 | |
| Other amounts payable | 47/48 | €160,000 | €200,000 | +€40,000 | +25.0% |
| Accrued charges and deferred income | 492/3 | €10,747 | €8,218 | -€2,529 | -23.5% |
| Operating income | 70/76A | €827,119 | €820,663 | -€6,456 | -0.8% |
| Turnover | 70 | €789,381 | €786,946 | -€2,435 | -0.3% |
| Own construction capitalised | 72 | €37,186 | - | -€37,186 | |
| Other operating income | 74 | €552 | €33,717 | +€33,165 | +6,009% |
| Operating charges | 60/66A | €579,862 | €490,132 | -€89,729 | -15.5% |
| Services and other goods | 61 | €249,276 | €196,980 | -€52,296 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €276,609 | €276,609 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €13,832 | €13,832 | = | 0.0% |
| Other operating charges | 640/8 | €1,420 | €2,710 | +€1,290 | +90.9% |
| Non-recurring operating charges | 66A | €38,724 | - | -€38,724 | |
| Operating profit (loss) | 9901 | €247,257 | €330,531 | +€83,274 | +33.7% |
| Financial income | 75/76B | - | €46,121 | +€46,121 | |
| Recurring financial income | 75 | - | €46,121 | +€46,121 | |
| Income from current assets | 751 | - | €46,121 | +€46,121 | |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Financial charges | 65/66B | €72,000 | €56,929 | -€15,071 | -20.9% |
| Recurring financial charges | 65 | €72,000 | €56,929 | -€15,071 | -20.9% |
| Debt charges | 650 | €72,000 | €56,929 | -€15,071 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €175,258 | €319,724 | +€144,466 | +82.4% |
| Income taxes | 67/77 | €43,814 | €89,396 | +€45,582 | +104% |
| Taxes | 670/3 | €43,814 | €89,396 | +€45,582 | +104% |
| Profit (loss) for the period | 9904 | €131,443 | €230,328 | +€98,884 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | €131,443 | €230,328 | +€98,884 | +75.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.