ENERCO: 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.
ENERCO
Largest movements
- Financial fixed assets -€12,337
down €12,337 (-100.0%), from €12,337 to €0
- Tangible fixed assets -€11,863
down €11,863 (-4.0%), from €298,876 to €287,013
of which Land and buildings: -€10,612
- Trade debts -€22,289
down €22,289 (-89.2%), from €25,000 to €2,711
- Other debts +€20,000
new in 2025: €20,000
- Debts after one year -€17,356
down €17,356 (-11.3%), from €154,015 to €136,659
- Profit (loss) carried forward -€9,398
down €9,398 (-90.3%), from €10,403 to €1,006
- Accrued charges and deferred income +€9,129
up €9,129 (+5342.4%), from €171 to €9,300
- Gross operating margin -€24,241
down €24,241 (-53.0%), from €45,746 to €21,505
- Financial charges +€11,128
up €11,128 (+125.3%), from €8,879 to €20,007
- Taxes -€6,378
down €6,378 (-74.9%), from €8,511 to €2,134
- Other operating charges -€2,599
down €2,599 (-75.1%), from €3,463 to €864
- Depreciation -€965
down €965 (-7.5%), from €12,828 to €11,863
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 | €425,615 | €407,990 | -€17,625 | -4.1% |
| Fixed assets | 21/28 | €311,213 | €287,013 | -€24,200 | -7.8% |
| Tangible fixed assets | 22/27 | €298,876 | €287,013 | -€11,863 | -4.0% |
| Land and buildings | 22 | €297,625 | €287,013 | -€10,612 | -3.6% |
| Furniture and vehicles | 24 | €1,251 | €0 | -€1,251 | -100.0% |
| Financial fixed assets | 28 | €12,337 | €0 | -€12,337 | -100.0% |
| Current assets | 29/58 | €114,402 | €120,977 | +€6,575 | +5.7% |
| Amounts receivable within one year | 40/41 | €110,924 | €114,793 | +€3,869 | +3.5% |
| Trade receivables | 40 | €18,373 | €30,265 | +€11,892 | +64.7% |
| Other amounts receivable | 41 | €92,551 | €84,528 | -€8,023 | -8.7% |
| Cash at bank and in hand | 54/58 | €3,039 | €6,184 | +€3,145 | +103.5% |
| Deferred charges and accrued income | 490/1 | €439 | €0 | -€439 | -100.0% |
| Total equity and liabilities | 10/49 | €425,615 | €407,990 | -€17,625 | -4.1% |
| Equity | 10/15 | €217,641 | €208,243 | -€9,398 | -4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €201,038 | €201,038 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €201,038 | €201,038 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,403 | €1,006 | -€9,398 | -90.3% |
| Amounts payable | 17/49 | €207,974 | €199,747 | -€8,227 | -4.0% |
| Amounts payable after more than one year | 17 | €154,015 | €136,659 | -€17,356 | -11.3% |
| Financial debts | 170/4 | €154,015 | €136,659 | -€17,356 | -11.3% |
| Amounts payable within one year | 42/48 | €53,788 | €53,788 | -€0 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €18,362 | €18,785 | +€423 | +2.3% |
| Trade debts | 44 | €25,000 | €2,711 | -€22,289 | -89.2% |
| Suppliers | 440/4 | €25,000 | €2,711 | -€22,289 | -89.2% |
| Taxes, remuneration and social security | 45 | €10,427 | €12,292 | +€1,865 | +17.9% |
| Taxes | 450/3 | €10,427 | €12,292 | +€1,865 | +17.9% |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Accrued charges and deferred income | 492/3 | €171 | €9,300 | +€9,129 | +5342.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,828 | €11,863 | -€965 | -7.5% |
| Other operating charges | 640/8 | €3,463 | €864 | -€2,599 | -75.1% |
| Gross operating margin | 9900 | €45,746 | €21,505 | -€24,241 | -53.0% |
| Operating profit (loss) | 9901 | €29,454 | €8,778 | -€20,676 | -70.2% |
| Financial income | 75/76B | €4,695 | €3,966 | -€728 | -15.5% |
| Recurring financial income | 75 | €4,695 | €3,966 | -€728 | -15.5% |
| Financial charges | 65/66B | €8,879 | €20,007 | +€11,128 | +125.3% |
| Recurring financial charges | 65 | €8,879 | €20,007 | +€11,128 | +125.3% |
| Profit (loss) for the period before taxes | 9903 | €25,269 | -€7,264 | -€32,533 | |
| Income taxes | 67/77 | €8,511 | €2,134 | -€6,378 | -74.9% |
| Profit (loss) for the period | 9904 | €16,758 | -€9,398 | -€26,155 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,758 | -€9,398 | -€26,155 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.