ENER: 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.
ENER
Largest movements
- Receivables after one year +€31,903
up €31,903 (+36.3%), from €87,986 to €119,889
- Cash -€7,345
down €7,345 (-27.1%), from €27,064 to €19,719
mainly Contributions, distributions and other (-€124,567) and Trade debts (-€45,278)
- Receivables within one year -€7,078
down €7,078 (-18.0%), from €39,306 to €32,228
- Deferred charges and accrued income -€1,816
down €1,816 (-41.3%), from €4,399 to €2,583
- Other debts +€124,567
new in 2025: €124,567
- Reserves -€72,126
down €72,126 (-100.0%), from €72,126 to €0
- Trade debts -€45,278
down €45,278 (-90.1%), from €50,260 to €4,982
- Tax, wage and social debts +€7,506
up €7,506 (+20.8%), from €36,081 to €43,587
- Gross operating margin +€23,910
up €23,910 (+48.5%), from €49,341 to €73,251
- Taxes +€4,779
up €4,779 (+37.0%), from €12,919 to €17,698
- Financial charges -€1,029
down €1,029 (-31.1%), from €3,307 to €2,278
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 | €162,707 | €176,636 | +€13,929 | +8.6% |
| Formation expenses | 20 | €465 | €241 | -€225 | -48.3% |
| Fixed assets | 21/28 | €3,487 | €1,976 | -€1,511 | -43.3% |
| Tangible fixed assets | 22/27 | €3,487 | €1,976 | -€1,511 | -43.3% |
| Furniture and vehicles | 24 | €1,895 | €584 | -€1,311 | -69.2% |
| Other tangible fixed assets | 26 | €1,592 | €1,392 | -€200 | -12.6% |
| Current assets | 29/58 | €158,755 | €174,420 | +€15,664 | +9.9% |
| Amounts receivable after more than one year | 29 | €87,986 | €119,889 | +€31,903 | +36.3% |
| Other amounts receivable | 291 | €87,986 | €119,889 | +€31,903 | +36.3% |
| Amounts receivable within one year | 40/41 | €39,306 | €32,228 | -€7,078 | -18.0% |
| Trade receivables | 40 | €39,306 | €32,228 | -€7,078 | -18.0% |
| Cash at bank and in hand | 54/58 | €27,064 | €19,719 | -€7,345 | -27.1% |
| Deferred charges and accrued income | 490/1 | €4,399 | €2,583 | -€1,816 | -41.3% |
| Total equity and liabilities | 10/49 | €162,707 | €176,636 | +€13,929 | +8.6% |
| Equity | 10/15 | €75,626 | €3,500 | -€72,126 | -95.4% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €72,126 | €0 | -€72,126 | -100.0% |
| Distributable reserves | 133 | €72,126 | €0 | -€72,126 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €87,082 | €173,136 | +€86,055 | +98.8% |
| Amounts payable within one year | 42/48 | €86,341 | €173,136 | +€86,795 | +100.5% |
| Trade debts | 44 | €50,260 | €4,982 | -€45,278 | -90.1% |
| Suppliers | 440/4 | €50,260 | €4,982 | -€45,278 | -90.1% |
| Taxes, remuneration and social security | 45 | €36,081 | €43,587 | +€7,506 | +20.8% |
| Taxes | 450/3 | €36,081 | €43,587 | +€7,506 | +20.8% |
| Other amounts payable | 47/48 | - | €124,567 | +€124,567 | |
| Accrued charges and deferred income | 492/3 | €741 | €0 | -€741 | -100.0% |
| Non-recurring operating income | 76A | - | €1,014 | +€1,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,925 | €1,735 | -€189 | -9.8% |
| Other operating charges | 640/8 | €1,392 | €1,756 | +€364 | +26.2% |
| Gross operating margin | 9900 | €49,341 | €73,251 | +€23,910 | +48.5% |
| Operating profit (loss) | 9901 | €46,025 | €69,760 | +€23,735 | +51.6% |
| Financial income | 75/76B | €1,992 | €2,658 | +€666 | +33.4% |
| Recurring financial income | 75 | €1,992 | €2,658 | +€666 | +33.4% |
| Financial charges | 65/66B | €3,307 | €2,278 | -€1,029 | -31.1% |
| Recurring financial charges | 65 | €3,307 | €2,278 | -€1,029 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €44,710 | €70,140 | +€25,429 | +56.9% |
| Income taxes | 67/77 | €12,919 | €17,698 | +€4,779 | +37.0% |
| Profit (loss) for the period | 9904 | €31,791 | €52,442 | +€20,651 | +65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,791 | €52,442 | +€20,651 | +65.0% |
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 8 October 2026 via checked.be.