Energho: 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.
Energho
Largest movements
- Cash +€32,191
up €32,191 (+80.8%), from €39,851 to €72,042
mainly Net result for the year (+€36,666) and Other debts (+€2,648)
- Receivables within one year +€7,048
up €7,048 (+1,767%), from €399 to €7,447
of which Trade receivables: +€6,003
- Deferred charges and accrued income +€952
up €952 (+2,678%), from €36 to €987
- Reserves +€36,666
up €36,666 (+131%), from €27,953 to €64,619
of which Distributable reserves: +€38,096
- Other debts +€2,648
up €2,648 (+64.7%), from €4,091 to €6,739
- Tax, wage and social debts +€2,133
up €2,133 (+19.2%), from €11,135 to €13,269
of which Taxes: +€2,133
- Trade debts -€961
down €961 (-52.2%), from €1,843 to €882
- Gross operating margin +€17,829
up €17,829 (+55.7%), from €32,014 to €49,843
- Taxes +€2,620
up €2,620 (+40.0%), from €6,545 to €9,166
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 | €50,635 | €91,205 | +€40,570 | +80.1% |
| Fixed assets | 21/28 | €10,349 | €10,729 | +€380 | +3.7% |
| Tangible fixed assets | 22/27 | €10,349 | €9,829 | -€520 | -5.0% |
| Plant, machinery and equipment | 23 | €2,326 | €2,781 | +€454 | +19.5% |
| Furniture and vehicles | 24 | €2 | €0 | -€2 | -100% |
| Other tangible fixed assets | 26 | €8,021 | €7,048 | -€973 | -12.1% |
| Financial fixed assets | 28 | - | €900 | +€900 | |
| Current assets | 29/58 | €40,286 | €80,476 | +€40,190 | +99.8% |
| Amounts receivable within one year | 40/41 | €399 | €7,447 | +€7,048 | +1,767% |
| Trade receivables | 40 | €399 | €6,402 | +€6,003 | +1,505% |
| Other amounts receivable | 41 | €0 | €1,045 | +€1,045 | |
| Cash at bank and in hand | 54/58 | €39,851 | €72,042 | +€32,191 | +80.8% |
| Deferred charges and accrued income | 490/1 | €36 | €987 | +€952 | +2,678% |
| Total equity and liabilities | 10/49 | €50,635 | €91,205 | +€40,570 | +80.1% |
| Equity | 10/15 | €32,939 | €69,605 | +€36,666 | +111% |
| Contributions | 10/11 | €4,987 | €4,987 | = | 0.0% |
| Reserves | 13 | €27,953 | €64,619 | +€36,666 | +131% |
| Non-distributable reserves | 130/1 | €1,430 | €0 | -€1,430 | -100% |
| Reserves not available under the articles | 1311 | €1,430 | €0 | -€1,430 | -100% |
| Distributable reserves | 133 | €26,523 | €64,619 | +€38,096 | +144% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,695 | €21,599 | +€3,904 | +22.1% |
| Amounts payable within one year | 42/48 | €17,069 | €20,889 | +€3,820 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,843 | €882 | -€961 | -52.2% |
| Suppliers | 440/4 | €1,843 | €882 | -€961 | -52.2% |
| Taxes, remuneration and social security | 45 | €11,135 | €13,269 | +€2,133 | +19.2% |
| Taxes | 450/3 | €8,422 | €10,555 | +€2,133 | +25.3% |
| Remuneration and social security | 454/9 | €2,713 | €2,713 | = | 0.0% |
| Other amounts payable | 47/48 | €4,091 | €6,739 | +€2,648 | +64.7% |
| Accrued charges and deferred income | 492/3 | €626 | €710 | +€84 | +13.4% |
| Non-recurring operating income | 76A | - | €11,508 | +€11,508 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,108 | €2,454 | +€347 | +16.4% |
| Other operating charges | 640/8 | €943 | €1,066 | +€122 | +13.0% |
| Gross operating margin | 9900 | €32,014 | €49,843 | +€17,829 | +55.7% |
| Operating profit (loss) | 9901 | €28,963 | €46,322 | +€17,360 | +59.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €467 | €491 | +€23 | +5.0% |
| Recurring financial charges | 65 | €467 | €491 | +€23 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €28,495 | €45,832 | +€17,337 | +60.8% |
| Income taxes | 67/77 | €6,545 | €9,166 | +€2,620 | +40.0% |
| Profit (loss) for the period | 9904 | €21,950 | €36,666 | +€14,716 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,950 | €36,666 | +€14,716 | +67.0% |
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 21 October 2026 via checked.be.