Energy Hardware Solutions: 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 Hardware Solutions
Largest movements
- Receivables within one year +€272,595
up €272,595 (+16.4%), from €1.7m to €1.9m
of which Trade receivables: +€274,410
- Tangible fixed assets -€93,601
down €93,601 (-49.3%), from €189,813 to €96,212
of which Furniture and vehicles: -€92,706
- Stocks and contracts -€72,681
no longer reported in 2025 (was €72,681)
- Profit (loss) carried forward +€74,968
up €74,968 (+29.5%), from €254,495 to €329,463
- Tax, wage and social debts +€70,029
up €70,029 (+199%), from €35,259 to €105,289
of which Taxes: +€66,962
- Other debts -€51,640
down €51,640 (-44.4%), from €116,280 to €64,640
- Depreciation +€15,427
up €15,427 (+88.4%), from €17,459 to €32,887
- Gross operating margin -€4,278
down €4,278 (-2.6%), from €167,641 to €163,363
- Financial charges -€1,899
down €1,899 (-56.1%), from €3,387 to €1,487
- Other operating charges +€1,741
up €1,741 (+168%), from €1,036 to €2,778
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 | €2,603,880 | €2,717,918 | +€114,038 | +4.4% |
| Fixed assets | 21/28 | €814,813 | €721,212 | -€93,601 | -11.5% |
| Tangible fixed assets | 22/27 | €189,813 | €96,212 | -€93,601 | -49.3% |
| Plant, machinery and equipment | 23 | €2,782 | €1,886 | -€895 | -32.2% |
| Furniture and vehicles | 24 | €187,031 | €94,325 | -€92,706 | -49.6% |
| Financial fixed assets | 28 | €625,000 | €625,000 | = | 0.0% |
| Current assets | 29/58 | €1,789,067 | €1,996,706 | +€207,639 | +11.6% |
| Stocks and contracts in progress | 3 | €72,681 | - | -€72,681 | |
| Stocks | 30/36 | €72,681 | - | -€72,681 | |
| Amounts receivable within one year | 40/41 | €1,664,113 | €1,936,708 | +€272,595 | +16.4% |
| Trade receivables | 40 | €1,662,298 | €1,936,708 | +€274,410 | +16.5% |
| Other amounts receivable | 41 | €1,815 | - | -€1,815 | |
| Cash at bank and in hand | 54/58 | €52,273 | €59,998 | +€7,724 | +14.8% |
| Total equity and liabilities | 10/49 | €2,603,880 | €2,717,918 | +€114,038 | +4.4% |
| Equity | 10/15 | €259,495 | €334,463 | +€74,968 | +28.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €254,495 | €329,463 | +€74,968 | +29.5% |
| Amounts payable | 17/49 | €2,344,385 | €2,383,455 | +€39,070 | +1.7% |
| Amounts payable within one year | 42/48 | €2,344,385 | €2,383,455 | +€39,070 | +1.7% |
| Trade debts | 44 | €2,192,846 | €2,213,526 | +€20,680 | +0.9% |
| Suppliers | 440/4 | €2,192,846 | €2,213,526 | +€20,680 | +0.9% |
| Taxes, remuneration and social security | 45 | €35,259 | €105,289 | +€70,029 | +199% |
| Taxes | 450/3 | €35,259 | €102,222 | +€66,962 | +190% |
| Remuneration and social security | 454/9 | - | €3,067 | +€3,067 | |
| Other amounts payable | 47/48 | €116,280 | €64,640 | -€51,640 | -44.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,459 | €32,887 | +€15,427 | +88.4% |
| Other operating charges | 640/8 | €1,036 | €2,778 | +€1,741 | +168% |
| Non-recurring operating charges | 66A | €12,029 | €22,945 | +€10,916 | +90.7% |
| Gross operating margin | 9900 | €167,641 | €163,363 | -€4,278 | -2.6% |
| Operating profit (loss) | 9901 | €137,116 | €104,753 | -€32,363 | -23.6% |
| Financial income | 75/76B | €1 | €75 | +€74 | +8,570% |
| Recurring financial income | 75 | €1 | €75 | +€74 | +8,570% |
| Financial charges | 65/66B | €3,387 | €1,487 | -€1,899 | -56.1% |
| Recurring financial charges | 65 | €3,387 | €1,487 | -€1,899 | -56.1% |
| Profit (loss) for the period before taxes | 9903 | €133,730 | €103,340 | -€30,390 | -22.7% |
| Income taxes | 67/77 | €29,424 | €28,372 | -€1,052 | -3.6% |
| Profit (loss) for the period | 9904 | €104,306 | €74,968 | -€29,338 | -28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €104,306 | €74,968 | -€29,338 | -28.1% |
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 18 October 2026 via checked.be.