ENERGY DRIVE: 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 DRIVE
Largest movements
- Cash +€89,681
up €89,681 (+12.3%), from €726,733 to €816,414
mainly Net result for the year (+€311,721) and Depreciation (+€32,022)
- Intangible fixed assets +€33,356
up €33,356 (+801%), from €4,165 to €37,521
- Receivables within one year -€25,439
down €25,439 (-18.9%), from €134,804 to €109,365
of which Trade receivables: -€71,322
- Tangible fixed assets -€23,677
down €23,677 (-15.1%), from €157,162 to €133,486
of which Plant, machinery and equipment: -€12,917
- Stocks and contracts -€20,216
down €20,216 (-18.5%), from €109,353 to €89,136
- Trade debts -€156,502
down €156,502 (-56.5%), from €276,972 to €120,470
- Reserves +€122,090
up €122,090 (+88.0%), from €138,670 to €260,760
of which Tax-exempt reserves: +€122,090
- Profit (loss) carried forward +€89,631
up €89,631 (+21.0%), from €426,656 to €516,287
- Other debts +€29,000
up €29,000 (+29.0%), from €100,000 to €129,000
- Tax, wage and social debts -€26,600
down €26,600 (-56.7%), from €46,955 to €20,355
of which Taxes: -€27,250
- Taxes -€25,995
down €25,995 (-22.9%), from €113,405 to €87,410
- Gross operating margin -€11,079
down €11,079 (-2.0%), from €549,975 to €538,895
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 | €1,132,218 | €1,185,923 | +€53,705 | +4.7% |
| Fixed assets | 21/28 | €161,327 | €171,007 | +€9,679 | +6.0% |
| Intangible fixed assets | 21 | €4,165 | €37,521 | +€33,356 | +801% |
| Tangible fixed assets | 22/27 | €157,162 | €133,486 | -€23,677 | -15.1% |
| Land and buildings | 22 | €29,218 | €26,303 | -€2,915 | -10.0% |
| Plant, machinery and equipment | 23 | €100,082 | €87,165 | -€12,917 | -12.9% |
| Furniture and vehicles | 24 | €4,440 | €2,876 | -€1,564 | -35.2% |
| Other tangible fixed assets | 26 | €23,423 | €17,143 | -€6,280 | -26.8% |
| Current assets | 29/58 | €970,891 | €1,014,916 | +€44,026 | +4.5% |
| Stocks and contracts in progress | 3 | €109,353 | €89,136 | -€20,216 | -18.5% |
| Stocks | 30/36 | €109,353 | €89,136 | -€20,216 | -18.5% |
| Amounts receivable within one year | 40/41 | €134,804 | €109,365 | -€25,439 | -18.9% |
| Trade receivables | 40 | €117,511 | €46,190 | -€71,322 | -60.7% |
| Other amounts receivable | 41 | €17,293 | €63,176 | +€45,883 | +265% |
| Cash at bank and in hand | 54/58 | €726,733 | €816,414 | +€89,681 | +12.3% |
| Total equity and liabilities | 10/49 | €1,132,218 | €1,185,923 | +€53,705 | +4.7% |
| Equity | 10/15 | €631,018 | €842,739 | +€211,721 | +33.6% |
| Contributions | 10/11 | €65,692 | €65,692 | = | 0.0% |
| Capital | 10 | €65,692 | €65,692 | = | 0.0% |
| Issued capital | 100 | €65,692 | €65,692 | = | 0.0% |
| Reserves | 13 | €138,670 | €260,760 | +€122,090 | +88.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €113,670 | €235,760 | +€122,090 | +107% |
| Profit (loss) carried forward | 14 | €426,656 | €516,287 | +€89,631 | +21.0% |
| Amounts payable | 17/49 | €501,200 | €343,184 | -€158,016 | -31.5% |
| Amounts payable after more than one year | 17 | €21,360 | €13,394 | -€7,966 | -37.3% |
| Financial debts | 170/4 | €21,360 | €13,394 | -€7,966 | -37.3% |
| Amounts payable within one year | 42/48 | €479,840 | €329,790 | -€150,050 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €7,914 | €7,966 | +€52 | +0.7% |
| Financial debts | 43 | €48,000 | €52,000 | +€4,000 | +8.3% |
| Credit institutions | 430/8 | €48,000 | €52,000 | +€4,000 | +8.3% |
| Trade debts | 44 | €276,972 | €120,470 | -€156,502 | -56.5% |
| Suppliers | 440/4 | €276,972 | €120,470 | -€156,502 | -56.5% |
| Taxes, remuneration and social security | 45 | €46,955 | €20,355 | -€26,600 | -56.7% |
| Taxes | 450/3 | €37,174 | €9,924 | -€27,250 | -73.3% |
| Remuneration and social security | 454/9 | €9,781 | €10,431 | +€649 | +6.6% |
| Other amounts payable | 47/48 | €100,000 | €129,000 | +€29,000 | +29.0% |
| Remuneration, social security and pensions | 62 | €79,469 | €83,900 | +€4,431 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,687 | €32,022 | +€4,335 | +15.7% |
| Other operating charges | 640/8 | €16,472 | €21,941 | +€5,470 | +33.2% |
| Non-recurring operating charges | 66A | €668 | -€681 | -€1,349 | |
| Gross operating margin | 9900 | €549,975 | €538,895 | -€11,079 | -2.0% |
| Operating profit (loss) | 9901 | €425,679 | €401,713 | -€23,966 | -5.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -93.9% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -93.9% |
| Financial charges | 65/66B | €5,456 | €2,582 | -€2,875 | -52.7% |
| Recurring financial charges | 65 | €5,456 | €2,582 | -€2,875 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | €420,223 | €399,131 | -€21,092 | -5.0% |
| Income taxes | 67/77 | €113,405 | €87,410 | -€25,995 | -22.9% |
| Profit (loss) for the period | 9904 | €306,818 | €311,721 | +€4,903 | +1.6% |
| Transfer to tax-exempt reserves | 689 | €113,670 | €122,090 | +€8,420 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €193,148 | €189,631 | -€3,517 | -1.8% |
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 19 October 2026 via checked.be.