EnerBel Group: 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.
EnerBel Group
Largest movements
- Receivables within one year +€48,390
up €48,390 (+64.8%), from €74,645 to €123,036
of which Trade receivables: +€60,604
- Stocks and contracts +€34,602
up €34,602 (+46.3%), from €74,726 to €109,328
- Cash -€15,024
down €15,024 (-64.8%), from €23,185 to €8,161
mainly Trade debts (-€50,392) and Receivables within one year (-€48,390)
- Tangible fixed assets +€12,770
up €12,770 (+175%), from €7,291 to €20,061
of which Furniture and vehicles: +€13,043
- Deferred charges and accrued income -€5,211
down €5,211 (-94.4%), from €5,517 to €307
- Profit (loss) carried forward +€79,937
up €79,937 (+96.9%), from €82,521 to €162,459
- Trade debts -€50,392
down €50,392 (-69.5%), from €72,500 to €22,107
- Tax, wage and social debts +€23,740
up €23,740 (+86.8%), from €27,355 to €51,096
of which Taxes: +€20,597
- Other debts +€22,243
up €22,243 (+2,252%), from €988 to €23,230
- Gross operating margin -€58,502
down €58,502 (-33.6%), from €174,210 to €115,708
- Staff costs -€37,310
down €37,310 (-88.1%), from €42,368 to €5,058
- Taxes -€5,764
down €5,764 (-21.1%), from €27,355 to €21,591
- Depreciation +€2,226
up €2,226 (+465%), from €479 to €2,704
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 | €185,364 | €260,892 | +€75,528 | +40.7% |
| Fixed assets | 21/28 | €7,291 | €20,061 | +€12,770 | +175% |
| Tangible fixed assets | 22/27 | €7,291 | €20,061 | +€12,770 | +175% |
| Plant, machinery and equipment | 23 | €746 | €473 | -€273 | -36.6% |
| Furniture and vehicles | 24 | €6,545 | €19,588 | +€13,043 | +199% |
| Current assets | 29/58 | €178,073 | €240,831 | +€62,758 | +35.2% |
| Stocks and contracts in progress | 3 | €74,726 | €109,328 | +€34,602 | +46.3% |
| Stocks | 30/36 | €74,726 | €109,328 | +€34,602 | +46.3% |
| Amounts receivable within one year | 40/41 | €74,645 | €123,036 | +€48,390 | +64.8% |
| Trade receivables | 40 | €55,600 | €116,204 | +€60,604 | +109% |
| Other amounts receivable | 41 | €19,046 | €6,832 | -€12,214 | -64.1% |
| Cash at bank and in hand | 54/58 | €23,185 | €8,161 | -€15,024 | -64.8% |
| Deferred charges and accrued income | 490/1 | €5,517 | €307 | -€5,211 | -94.4% |
| Total equity and liabilities | 10/49 | €185,364 | €260,892 | +€75,528 | +40.7% |
| Equity | 10/15 | €84,521 | €164,459 | +€79,937 | +94.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,521 | €162,459 | +€79,937 | +96.9% |
| Amounts payable | 17/49 | €100,843 | €96,433 | -€4,409 | -4.4% |
| Amounts payable within one year | 42/48 | €100,843 | €96,433 | -€4,409 | -4.4% |
| Trade debts | 44 | €72,500 | €22,107 | -€50,392 | -69.5% |
| Suppliers | 440/4 | €72,500 | €22,107 | -€50,392 | -69.5% |
| Taxes, remuneration and social security | 45 | €27,355 | €51,096 | +€23,740 | +86.8% |
| Taxes | 450/3 | €27,355 | €47,952 | +€20,597 | +75.3% |
| Remuneration and social security | 454/9 | - | €3,144 | +€3,144 | |
| Other amounts payable | 47/48 | €988 | €23,230 | +€22,243 | +2,252% |
| Remuneration, social security and pensions | 62 | €42,368 | €5,058 | -€37,310 | -88.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €479 | €2,704 | +€2,226 | +465% |
| Other operating charges | 640/8 | €1,838 | €1,114 | -€724 | -39.4% |
| Non-recurring operating charges | 66A | €19,603 | €4,351 | -€15,252 | -77.8% |
| Gross operating margin | 9900 | €174,210 | €115,708 | -€58,502 | -33.6% |
| Operating profit (loss) | 9901 | €109,922 | €102,481 | -€7,441 | -6.8% |
| Financial income | 75/76B | €57 | €0 | -€57 | -100% |
| Recurring financial income | 75 | €57 | €0 | -€57 | -100% |
| Financial charges | 65/66B | €102 | €952 | +€850 | +832% |
| Recurring financial charges | 65 | €102 | €952 | +€850 | +832% |
| Profit (loss) for the period before taxes | 9903 | €109,877 | €101,529 | -€8,348 | -7.6% |
| Income taxes | 67/77 | €27,355 | €21,591 | -€5,764 | -21.1% |
| Profit (loss) for the period | 9904 | €82,521 | €79,937 | -€2,584 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €82,521 | €79,937 | -€2,584 | -3.1% |
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 27 October 2026 via checked.be.