ENERGY +: 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.
ENERGY +
Largest movements
- Tangible fixed assets -€11,205
down €11,205 (-7.4%), from €150,595 to €139,390
of which Land and buildings: -€6,375
- Stocks and contracts -€5,842
down €5,842 (-29.5%), from €19,827 to €13,985
of which Stocks: -€11,125
- Receivables within one year +€4,510
up €4,510 (+10.5%), from €43,147 to €47,657
of which Trade receivables: +€9,938
- Cash +€3,933
up €3,933 (+46.2%), from €8,510 to €12,444
mainly Depreciation (+€13,541) and Other debts (+€10,178)
- Debts after one year -€10,407
down €10,407 (-7.5%), from €138,739 to €128,332
- Other debts +€10,178
new in 2025: €10,178
- Reserves -€4,762
down €4,762 (-15.5%), from €30,665 to €25,903
- Trade debts -€4,569
down €4,569 (-11.2%), from €40,682 to €36,112
- Staff costs -€2,590
down €2,590 (-21.7%), from €11,944 to €9,354
- Taxes +€1,999
up €1,999 (+273%), from €731 to €2,731
- Depreciation -€1,501
down €1,501 (-10.0%), from €15,042 to €13,541
- Financial charges -€768
down €768 (-8.7%), from €8,818 to €8,050
- Gross operating margin +€584
up €584 (+1.4%), from €40,572 to €41,156
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 | €238,694 | €228,525 | -€10,169 | -4.3% |
| Fixed assets | 21/28 | €150,595 | €139,390 | -€11,205 | -7.4% |
| Tangible fixed assets | 22/27 | €150,595 | €139,390 | -€11,205 | -7.4% |
| Land and buildings | 22 | €133,897 | €127,522 | -€6,375 | -4.8% |
| Plant, machinery and equipment | 23 | €6,765 | €5,578 | -€1,187 | -17.5% |
| Furniture and vehicles | 24 | €9,933 | €6,290 | -€3,643 | -36.7% |
| Current assets | 29/58 | €88,099 | €89,135 | +€1,036 | +1.2% |
| Stocks and contracts in progress | 3 | €19,827 | €13,985 | -€5,842 | -29.5% |
| Stocks | 30/36 | €11,125 | - | -€11,125 | |
| Contracts in progress | 37 | €8,702 | €13,985 | +€5,283 | +60.7% |
| Amounts receivable within one year | 40/41 | €43,147 | €47,657 | +€4,510 | +10.5% |
| Trade receivables | 40 | €26,835 | €36,773 | +€9,938 | +37.0% |
| Other amounts receivable | 41 | €16,312 | €10,884 | -€5,428 | -33.3% |
| Cash at bank and in hand | 54/58 | €8,510 | €12,444 | +€3,933 | +46.2% |
| Deferred charges and accrued income | 490/1 | €16,614 | €15,050 | -€1,565 | -9.4% |
| Total equity and liabilities | 10/49 | €238,694 | €228,525 | -€10,169 | -4.3% |
| Equity | 10/15 | €41,265 | €36,503 | -€4,762 | -11.5% |
| Contributions | 10/11 | €10,600 | €10,600 | = | 0.0% |
| Reserves | 13 | €30,665 | €25,903 | -€4,762 | -15.5% |
| Distributable reserves | 133 | €30,665 | €25,903 | -€4,762 | -15.5% |
| Amounts payable | 17/49 | €197,429 | €192,022 | -€5,407 | -2.7% |
| Amounts payable after more than one year | 17 | €138,739 | €128,332 | -€10,407 | -7.5% |
| Financial debts | 170/4 | €138,739 | €128,332 | -€10,407 | -7.5% |
| Amounts payable within one year | 42/48 | €57,215 | €61,925 | +€4,710 | +8.2% |
| Current portion of amounts payable after more than one year | 42 | €13,642 | €12,169 | -€1,473 | -10.8% |
| Trade debts | 44 | €40,682 | €36,112 | -€4,569 | -11.2% |
| Suppliers | 440/4 | €40,682 | €36,112 | -€4,569 | -11.2% |
| Taxes, remuneration and social security | 45 | €2,891 | €3,466 | +€575 | +19.9% |
| Taxes | 450/3 | €1,104 | €2,006 | +€902 | +81.8% |
| Remuneration and social security | 454/9 | €1,788 | €1,460 | -€327 | -18.3% |
| Other amounts payable | 47/48 | - | €10,178 | +€10,178 | |
| Accrued charges and deferred income | 492/3 | €1,475 | €1,765 | +€290 | +19.6% |
| Non-recurring operating income | 76A | €17,355 | - | -€17,355 | |
| Remuneration, social security and pensions | 62 | €11,944 | €9,354 | -€2,590 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,042 | €13,541 | -€1,501 | -10.0% |
| Other operating charges | 640/8 | €1,454 | €1,691 | +€237 | +16.3% |
| Gross operating margin | 9900 | €40,572 | €41,156 | +€584 | +1.4% |
| Operating profit (loss) | 9901 | €12,133 | €16,570 | +€4,438 | +36.6% |
| Financial income | 75/76B | €348 | €161 | -€187 | -53.8% |
| Recurring financial income | 75 | €348 | €161 | -€187 | -53.8% |
| Financial charges | 65/66B | €8,818 | €8,050 | -€768 | -8.7% |
| Recurring financial charges | 65 | €8,818 | €8,050 | -€768 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €3,663 | €8,682 | +€5,019 | +137% |
| Income taxes | 67/77 | €731 | €2,731 | +€1,999 | +273% |
| Profit (loss) for the period | 9904 | €2,932 | €5,951 | +€3,020 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €2,932 | €5,951 | +€3,020 | +103% |
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.