ENERGELEC: 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.
ENERGELEC
Largest movements
- Tangible fixed assets +€149,988
up €149,988 (+303%), from €49,466 to €199,454
of which Land and buildings: +€108,924
- Stocks and contracts -€78,321
down €78,321 (-67.9%), from €115,366 to €37,045
- Receivables within one year +€57,821
up €57,821 (+83.4%), from €69,350 to €127,171
of which Trade receivables: +€73,452
- Cash +€27,982
up €27,982 (+29.8%), from €93,748 to €121,730
mainly Debts after one year (+€98,302) and Stocks and contracts (+€78,321)
- Deferred charges and accrued income -€8,913
no longer reported in 2025 (was €8,913)
- Debts after one year +€98,302
up €98,302 (+2,673%), from €3,677 to €101,980
- Reserves +€50,000
up €50,000 (+45.1%), from €110,859 to €160,859
of which Distributable reserves: +€50,000
- Current portion of long-term debt +€20,231
up €20,231 (+62.4%), from €32,440 to €52,671
- Tax, wage and social debts -€19,088
down €19,088 (-38.0%), from €50,267 to €31,180
of which Taxes: -€27,542
- Profit (loss) carried forward +€7,151
up €7,151 (+9.7%), from €73,686 to €80,837
- Gross operating margin +€139,544
up €139,544 (+65.9%), from €211,638 to €351,182
- Staff costs +€48,089
up €48,089 (+31.9%), from €150,687 to €198,776
- Depreciation +€38,246
up €38,246 (+275%), from €13,932 to €52,178
- Taxes +€13,239
up €13,239 (+110%), from €11,993 to €25,231
- Financial charges +€7,655
up €7,655 (+147%), from €5,223 to €12,879
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 | €336,842 | €485,399 | +€148,557 | +44.1% |
| Fixed assets | 21/28 | €49,466 | €199,454 | +€149,988 | +303% |
| Tangible fixed assets | 22/27 | €49,466 | €199,454 | +€149,988 | +303% |
| Land and buildings | 22 | - | €108,924 | +€108,924 | |
| Plant, machinery and equipment | 23 | €2,895 | €2,737 | -€158 | -5.5% |
| Furniture and vehicles | 24 | €42,109 | €83,863 | +€41,754 | +99.2% |
| Other tangible fixed assets | 26 | €4,461 | €3,929 | -€532 | -11.9% |
| Current assets | 29/58 | €287,376 | €285,945 | -€1,431 | -0.5% |
| Stocks and contracts in progress | 3 | €115,366 | €37,045 | -€78,321 | -67.9% |
| Stocks | 30/36 | €115,366 | €37,045 | -€78,321 | -67.9% |
| Amounts receivable within one year | 40/41 | €69,350 | €127,171 | +€57,821 | +83.4% |
| Trade receivables | 40 | €47,291 | €120,743 | +€73,452 | +155% |
| Other amounts receivable | 41 | €22,059 | €6,428 | -€15,631 | -70.9% |
| Cash at bank and in hand | 54/58 | €93,748 | €121,730 | +€27,982 | +29.8% |
| Deferred charges and accrued income | 490/1 | €8,913 | - | -€8,913 | |
| Total equity and liabilities | 10/49 | €336,842 | €485,399 | +€148,557 | +44.1% |
| Equity | 10/15 | €203,137 | €260,288 | +€57,151 | +28.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €110,859 | €160,859 | +€50,000 | +45.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €109,000 | €159,000 | +€50,000 | +45.9% |
| Profit (loss) carried forward | 14 | €73,686 | €80,837 | +€7,151 | +9.7% |
| Amounts payable | 17/49 | €133,705 | €225,111 | +€91,406 | +68.4% |
| Amounts payable after more than one year | 17 | €3,677 | €101,980 | +€98,302 | +2,673% |
| Financial debts | 170/4 | €3,677 | €101,980 | +€98,302 | +2,673% |
| Amounts payable within one year | 42/48 | €130,028 | €123,131 | -€6,897 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €32,440 | €52,671 | +€20,231 | +62.4% |
| Financial debts | 43 | €1,019 | - | -€1,019 | |
| Credit institutions | 430/8 | €1,019 | - | -€1,019 | |
| Trade debts | 44 | €41,816 | €34,876 | -€6,940 | -16.6% |
| Suppliers | 440/4 | €41,816 | €34,876 | -€6,940 | -16.6% |
| Taxes, remuneration and social security | 45 | €50,267 | €31,180 | -€19,088 | -38.0% |
| Taxes | 450/3 | €30,277 | €2,735 | -€27,542 | -91.0% |
| Remuneration and social security | 454/9 | €19,990 | €28,444 | +€8,454 | +42.3% |
| Other amounts payable | 47/48 | €4,486 | €4,405 | -€81 | -1.8% |
| Remuneration, social security and pensions | 62 | €150,687 | €198,776 | +€48,089 | +31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,932 | €52,178 | +€38,246 | +275% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,565 | +€5,565 | |
| Other operating charges | 640/8 | €440 | €1,448 | +€1,008 | +229% |
| Gross operating margin | 9900 | €211,638 | €351,182 | +€139,544 | +65.9% |
| Operating profit (loss) | 9901 | €46,580 | €93,216 | +€46,636 | +100% |
| Financial income | 75/76B | €1,557 | €2,046 | +€489 | +31.4% |
| Recurring financial income | 75 | €1,557 | €2,046 | +€489 | +31.4% |
| Financial charges | 65/66B | €5,223 | €12,879 | +€7,655 | +147% |
| Recurring financial charges | 65 | €5,223 | €12,879 | +€7,655 | +147% |
| Profit (loss) for the period before taxes | 9903 | €42,913 | €82,383 | +€39,469 | +92.0% |
| Income taxes | 67/77 | €11,993 | €25,231 | +€13,239 | +110% |
| Profit (loss) for the period | 9904 | €30,921 | €57,151 | +€26,231 | +84.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,921 | €57,151 | +€26,231 | +84.8% |
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 28 October 2026 via checked.be.