ENERGRO: 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.
What changed
ENERGRO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€29,606
2024 · €30,029-€59,635
Equity
€6.4m
2024 · €6.6m-€169,182
Cash
€42,702
2024 · €132,880-€90,178
Balance sheet total
€8.6m
2024 · €9.3m-€715,128
Largest movements
Assets
- Current investments -€346,164
down €346,164 (-68.9%), from €502,664 to €156,500
- Tangible fixed assets -€323,238
down €323,238 (-3.9%), from €8.3m to €8.0m
of which Land and buildings: -€322,363
Equity and liabilities
- Other debts -€334,902
down €334,902 (-37.2%), from €900,833 to €565,931
- Debts after one year -€195,000
down €195,000 (-17.0%), from €1.2m to €955,000
- Reserves -€169,182
down €169,182 (-3.2%), from €5.3m to €5.2m
of which Tax-exempt reserves: -€131,619
Income statement
- Gross operating margin +€172,968
up €172,968 (+43.0%), from €401,936 to €574,904
- Other operating charges +€92,071
up €92,071 (+280%), from €32,845 to €124,916
- Depreciation +€84,705
up €84,705 (+27.4%), from €309,355 to €394,060
- Financial charges +€44,744
up €44,744 (+165%), from €27,070 to €71,814
- Financial income -€36,108
down €36,108 (-84.7%), from €42,606 to €6,497
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.
Result 2024
€30,029
Gross operating margin
+€172,968
Depreciation
-€84,705
Other operating charges
-€92,071
Financial income
-€36,108
Financial charges
-€44,744
Taxes
+€17,543
Deferred taxes and other
+€7,482
Result 2025
-€29,606
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€80,048
Investment
+€324,446
Financing
-€334,576
Cash 2024
€132,880
From operations (derived)
-€80,048
Net result for the year
-€29,606
Depreciation
+€394,060
Stocks and contracts
-€22,789
Receivables within one year
-€69,545
Deferred charges and accrued income
-€1,222
Provisions
-€43,873
Trade debts
+€9,978
Tax, wage and social debts
+€17,851
Other debts
-€334,902
Investment (derived)
+€324,446
Investment in fixed assets (net)
-€21,718
Current investments
+€346,164
Financing
-€334,576
Debts after one year
-€195,000
Contributions, distributions and other
-€139,576
Cash 2025
€42,702
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,292,036 | €8,576,908 | -€715,128 | -7.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €8,651,302 | €8,278,960 | -€372,342 | -4.3% |
| Intangible fixed assets | 21 | €331,352 | €282,248 | -€49,104 | -14.8% |
| Tangible fixed assets | 22/27 | €8,319,950 | €7,996,712 | -€323,238 | -3.9% |
| Land and buildings | 22 | €8,317,616 | €7,995,253 | -€322,363 | -3.9% |
| Plant, machinery and equipment | 23 | €1,226 | €801 | -€425 | -34.6% |
| Furniture and vehicles | 24 | €1,108 | €658 | -€450 | -40.6% |
| Current assets | 29/58 | €640,734 | €297,948 | -€342,786 | -53.5% |
| Stocks and contracts in progress | 3 | - | €22,789 | +€22,789 | |
| Stocks | 30/36 | - | €22,789 | +€22,789 | |
| Amounts receivable within one year | 40/41 | €2,247 | €71,792 | +€69,545 | +3,095% |
| Trade receivables | 40 | - | €69,428 | +€69,428 | |
| Other amounts receivable | 41 | €2,247 | €2,364 | +€117 | +5.2% |
| Current investments | 50/53 | €502,664 | €156,500 | -€346,164 | -68.9% |
| Cash at bank and in hand | 54/58 | €132,880 | €42,702 | -€90,178 | -67.9% |
| Deferred charges and accrued income | 490/1 | €2,943 | €4,165 | +€1,222 | +41.5% |
| Total equity and liabilities | 10/49 | €9,292,036 | €8,576,908 | -€715,128 | -7.7% |
| Equity | 10/15 | €6,576,337 | €6,407,155 | -€169,182 | -2.6% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €5,326,337 | €5,157,155 | -€169,182 | -3.2% |
| Non-distributable reserves | 130/1 | €125,000 | €125,000 | = | 0.0% |
| Legal reserve | 130 | €125,000 | €125,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,966,653 | €1,835,034 | -€131,619 | -6.7% |
| Distributable reserves | 133 | €3,234,683 | €3,197,120 | -€37,563 | -1.2% |
| Provisions and deferred taxes | 16 | €655,551 | €611,678 | -€43,873 | -6.7% |
| Deferred taxes | 168 | €655,551 | €611,678 | -€43,873 | -6.7% |
| Amounts payable | 17/49 | €2,060,148 | €1,558,075 | -€502,073 | -24.4% |
| Amounts payable after more than one year | 17 | €1,150,000 | €955,000 | -€195,000 | -17.0% |
| Financial debts | 170/4 | €1,150,000 | €955,000 | -€195,000 | -17.0% |
| Amounts payable within one year | 42/48 | €910,148 | €603,075 | -€307,073 | -33.7% |
| Trade debts | 44 | €846 | €10,824 | +€9,978 | +1,179% |
| Suppliers | 440/4 | €846 | €10,824 | +€9,978 | +1,179% |
| Taxes, remuneration and social security | 45 | €8,469 | €26,319 | +€17,851 | +211% |
| Taxes | 450/3 | €8,469 | €26,319 | +€17,851 | +211% |
| Other amounts payable | 47/48 | €900,833 | €565,931 | -€334,902 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €309,355 | €394,060 | +€84,705 | +27.4% |
| Other operating charges | 640/8 | €32,845 | €124,916 | +€92,071 | +280% |
| Gross operating margin | 9900 | €401,936 | €574,904 | +€172,968 | +43.0% |
| Operating profit (loss) | 9901 | €59,736 | €55,928 | -€3,808 | -6.4% |
| Financial income | 75/76B | €42,606 | €6,497 | -€36,108 | -84.7% |
| Recurring financial income | 75 | €42,606 | €6,497 | -€36,108 | -84.7% |
| Financial charges | 65/66B | €27,070 | €71,814 | +€44,744 | +165% |
| Recurring financial charges | 65 | €27,070 | €71,814 | +€44,744 | +165% |
| Profit (loss) for the period before taxes | 9903 | €75,272 | -€9,388 | -€84,660 | |
| Transfer from deferred taxes | 780 | €36,391 | €43,873 | +€7,482 | +20.6% |
| Income taxes | 67/77 | €81,634 | €64,091 | -€17,543 | -21.5% |
| Profit (loss) for the period | 9904 | €30,029 | -€29,606 | -€59,635 | |
| Transfer from tax-exempt reserves | 789 | €109,173 | €131,619 | +€22,446 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €139,202 | €102,013 | -€37,189 | -26.7% |
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 13 October 2026 via checked.be.