ENERFIN COMPASS: 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.
ENERFIN COMPASS
Largest movements
- Tangible fixed assets -€147,850
down €147,850 (-26.1%), from €565,936 to €418,086
of which Land and buildings: -€130,246
- Receivables within one year -€84,578
down €84,578 (-66.7%), from €126,851 to €42,273
of which Other amounts receivable: -€54,244
- Debts after one year -€143,949
down €143,949 (-50.5%), from €285,158 to €141,209
- Profit (loss) carried forward -€90,140
down €90,140 (-46.1%), from €195,520 to €105,380
- Other debts +€27,895
new in 2025: €27,895
- Tax, wage and social debts -€24,166
down €24,166 (-31.4%), from €77,049 to €52,883
of which Taxes: -€17,798
- Current portion of long-term debt -€19,924
down €19,924 (-24.5%), from €81,278 to €61,354
- Depreciation -€46,163
down €46,163 (-60.0%), from €76,975 to €30,812
- Taxes -€10,536
down €10,536 (-22.1%), from €47,680 to €37,144
- Gross operating margin -€9,691
down €9,691 (-5.4%), from €178,990 to €169,300
- Financial charges -€2,147
down €2,147 (-15.6%), from €13,751 to €11,605
- Other operating charges +€1,845
up €1,845 (+33.2%), from €5,559 to €7,404
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 | €820,125 | €578,538 | -€241,588 | -29.5% |
| Fixed assets | 21/28 | €565,961 | €418,111 | -€147,850 | -26.1% |
| Tangible fixed assets | 22/27 | €565,936 | €418,086 | -€147,850 | -26.1% |
| Land and buildings | 22 | €505,617 | €375,371 | -€130,246 | -25.8% |
| Furniture and vehicles | 24 | €45,237 | €9,436 | -€35,801 | -79.1% |
| Other tangible fixed assets | 26 | €15,083 | €33,280 | +€18,197 | +120.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €254,164 | €160,427 | -€93,737 | -36.9% |
| Amounts receivable after more than one year | 29 | €7,523 | €0 | -€7,523 | -100.0% |
| Trade receivables | 290 | €7,523 | €0 | -€7,523 | -100.0% |
| Amounts receivable within one year | 40/41 | €126,851 | €42,273 | -€84,578 | -66.7% |
| Trade receivables | 40 | €68,589 | €38,254 | -€30,335 | -44.2% |
| Other amounts receivable | 41 | €58,262 | €4,019 | -€54,244 | -93.1% |
| Cash at bank and in hand | 54/58 | €116,954 | €117,043 | +€89 | +0.1% |
| Deferred charges and accrued income | 490/1 | €2,835 | €1,111 | -€1,724 | -60.8% |
| Total equity and liabilities | 10/49 | €820,125 | €578,538 | -€241,588 | -29.5% |
| Equity | 10/15 | €354,515 | €278,658 | -€75,857 | -21.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €152,795 | €167,078 | +€14,283 | +9.3% |
| Tax-exempt reserves | 132 | €38,150 | €38,150 | = | 0.0% |
| Distributable reserves | 133 | €114,645 | €128,928 | +€14,283 | +12.5% |
| Profit (loss) carried forward | 14 | €195,520 | €105,380 | -€90,140 | -46.1% |
| Amounts payable | 17/49 | €465,611 | €299,880 | -€165,731 | -35.6% |
| Amounts payable after more than one year | 17 | €285,158 | €141,209 | -€143,949 | -50.5% |
| Financial debts | 170/4 | €285,158 | €141,209 | -€143,949 | -50.5% |
| Amounts payable within one year | 42/48 | €180,453 | €158,614 | -€21,839 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €81,278 | €61,354 | -€19,924 | -24.5% |
| Financial debts | 43 | €4,990 | €4,214 | -€776 | -15.5% |
| Credit institutions | 430/8 | €4,990 | €4,214 | -€776 | -15.5% |
| Trade debts | 44 | €17,137 | €12,268 | -€4,869 | -28.4% |
| Suppliers | 440/4 | €17,137 | €12,268 | -€4,869 | -28.4% |
| Taxes, remuneration and social security | 45 | €77,049 | €52,883 | -€24,166 | -31.4% |
| Taxes | 450/3 | €70,105 | €52,307 | -€17,798 | -25.4% |
| Remuneration and social security | 454/9 | €6,944 | €576 | -€6,368 | -91.7% |
| Other amounts payable | 47/48 | - | €27,895 | +€27,895 | |
| Accrued charges and deferred income | 492/3 | - | €57 | +€57 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,975 | €30,812 | -€46,163 | -60.0% |
| Other operating charges | 640/8 | €5,559 | €7,404 | +€1,845 | +33.2% |
| Non-recurring operating charges | 66A | €3,505 | €0 | -€3,505 | -100.0% |
| Gross operating margin | 9900 | €178,990 | €169,300 | -€9,691 | -5.4% |
| Operating profit (loss) | 9901 | €92,951 | €131,083 | +€38,132 | +41.0% |
| Financial income | 75/76B | €3,265 | €1,809 | -€1,456 | -44.6% |
| Recurring financial income | 75 | €3,265 | €1,809 | -€1,456 | -44.6% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €13,751 | €11,605 | -€2,147 | -15.6% |
| Recurring financial charges | 65 | €13,751 | €11,605 | -€2,147 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €82,465 | €121,288 | +€38,823 | +47.1% |
| Income taxes | 67/77 | €47,680 | €37,144 | -€10,536 | -22.1% |
| Profit (loss) for the period | 9904 | €34,785 | €84,143 | +€49,359 | +141.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,785 | €84,143 | +€49,359 | +141.9% |
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.