Energy Services Management: 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
Energy Services Management
NACE 47.781, Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€109,404
2024 · -€272,511+€381,915
Equity
€416,424
2024 · €307,020+€109,404
Cash
€122,035
2024 · €150,850-€28,815
Balance sheet total
€3.9m
2024 · €3.9m+€23,352
Largest movements
Assets
- Receivables within one year +€225,187
up €225,187 (+120%), from €187,225 to €412,412
of which Trade receivables: +€235,905
- Tangible fixed assets -€205,519
down €205,519 (-6.8%), from €3.0m to €2.8m
of which Land and buildings: -€132,094
Equity and liabilities
- Debts after one year -€168,422
down €168,422 (-6.5%), from €2.6m to €2.4m
- Profit (loss) carried forward +€109,404
up €109,404 (+24.9%), from -€439,766 to -€330,362
- Trade debts +€49,301
up €49,301 (+6.7%), from €737,371 to €786,671
Income statement
- Turnover +€5.8m
up €5.8m (+153%), from €3.8m to €9.6m
- Purchases and services +€5.3m
up €5.3m (+137%), from €3.9m to €9.1m
- Gross operating margin +€639,482
up €639,482, from -€55,385 to €584,097
- Depreciation +€138,630
up €138,630 (+175%), from €79,293 to €217,923
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
-€272,511
Gross operating margin
+€639,482
Staff costs
-€69,024
Depreciation
-€138,630
Provisions
-€15,583
Other operating charges
-€3,118
Other operating items
-€6,624
Financial income
+€1,568
Financial charges
-€25,962
Taxes
-€193
Result 2025
€109,404
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
+€169,591
Investment
-€37,572
Financing
-€160,834
Cash 2024
€150,850
From operations (derived)
+€169,591
Net result for the year
+€109,404
Depreciation
+€217,923
Stocks and contracts
-€2,679
Receivables within one year
-€225,187
Deferred charges and accrued income
-€4,653
Provisions
+€15,583
Trade debts
+€49,301
Tax, wage and social debts
+€14,197
Accrued charges and deferred income
-€4,298
Investment (derived)
-€37,572
Investment in fixed assets (net)
-€37,572
Financing
-€160,834
Debts after one year
-€168,422
Current portion of long-term debt
+€7,588
Cash 2025
€122,035
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,887,215 | €3,910,567 | +€23,352 | +0.6% |
| Fixed assets | 21/28 | €3,269,130 | €3,088,779 | -€180,351 | -5.5% |
| Intangible fixed assets | 21 | €144,608 | €143,892 | -€716 | -0.5% |
| Tangible fixed assets | 22/27 | €3,035,507 | €2,829,988 | -€205,519 | -6.8% |
| Land and buildings | 22 | €2,518,546 | €2,386,452 | -€132,094 | -5.2% |
| Plant, machinery and equipment | 23 | €405,117 | €351,509 | -€53,608 | -13.2% |
| Furniture and vehicles | 24 | €111,844 | €92,027 | -€19,817 | -17.7% |
| Financial fixed assets | 28 | €89,015 | €114,899 | +€25,884 | +29.1% |
| Current assets | 29/58 | €618,085 | €821,788 | +€203,704 | +33.0% |
| Stocks and contracts in progress | 3 | €239,240 | €241,918 | +€2,679 | +1.1% |
| Stocks | 30/36 | €239,240 | €241,918 | +€2,679 | +1.1% |
| Amounts receivable within one year | 40/41 | €187,225 | €412,412 | +€225,187 | +120% |
| Trade receivables | 40 | €171,687 | €407,592 | +€235,905 | +137% |
| Other amounts receivable | 41 | €15,538 | €4,820 | -€10,718 | -69.0% |
| Cash at bank and in hand | 54/58 | €150,850 | €122,035 | -€28,815 | -19.1% |
| Deferred charges and accrued income | 490/1 | €40,770 | €45,423 | +€4,653 | +11.4% |
| Total equity and liabilities | 10/49 | €3,887,215 | €3,910,567 | +€23,352 | +0.6% |
| Equity | 10/15 | €307,020 | €416,424 | +€109,404 | +35.6% |
| Contributions | 10/11 | €511,973 | €511,973 | = | 0.0% |
| Capital | 10 | €511,973 | €511,973 | = | 0.0% |
| Issued capital | 100 | €511,973 | €511,973 | = | 0.0% |
| Reserves | 13 | €234,812 | €234,812 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,490 | €6,490 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,490 | €6,490 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €172,072 | €172,072 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€439,766 | -€330,362 | +€109,404 | +24.9% |
| Provisions and deferred taxes | 16 | - | €15,583 | +€15,583 | |
| Provisions for liabilities and charges | 160/5 | - | €15,583 | +€15,583 | |
| Taxes | 161 | - | €15,583 | +€15,583 | |
| Amounts payable | 17/49 | €3,580,195 | €3,478,560 | -€101,635 | -2.8% |
| Amounts payable after more than one year | 17 | €2,600,102 | €2,431,681 | -€168,422 | -6.5% |
| Financial debts | 170/4 | €2,600,102 | €2,431,681 | -€168,422 | -6.5% |
| Amounts payable within one year | 42/48 | €975,795 | €1,046,879 | +€71,085 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €160,834 | €168,422 | +€7,588 | +4.7% |
| Trade debts | 44 | €737,371 | €786,671 | +€49,301 | +6.7% |
| Suppliers | 440/4 | €737,371 | €786,671 | +€49,301 | +6.7% |
| Taxes, remuneration and social security | 45 | €77,590 | €91,787 | +€14,197 | +18.3% |
| Taxes | 450/3 | €73,620 | €82,207 | +€8,587 | +11.7% |
| Remuneration and social security | 454/9 | €3,969 | €9,579 | +€5,610 | +141% |
| Accrued charges and deferred income | 492/3 | €4,298 | - | -€4,298 | |
| Turnover | 70 | €3,780,792 | €9,564,490 | +€5.8m | +153% |
| Non-recurring operating income | 76A | €2,068 | €82,625 | +€80,557 | +3,896% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,852,503 | €9,128,460 | +€5.3m | +137% |
| Remuneration, social security and pensions | 62 | €38,471 | €107,495 | +€69,024 | +179% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,293 | €217,923 | +€138,630 | +175% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €15,583 | +€15,583 | |
| Other operating charges | 640/8 | €2,355 | €5,473 | +€3,118 | +132% |
| Non-recurring operating charges | 66A | - | €6,624 | +€6,624 | |
| Gross operating margin | 9900 | -€55,385 | €584,097 | +€639,482 | |
| Operating profit (loss) | 9901 | -€175,504 | €230,998 | +€406,502 | |
| Financial income | 75/76B | €3,117 | €4,685 | +€1,568 | +50.3% |
| Recurring financial income | 75 | €3,117 | €4,685 | +€1,568 | +50.3% |
| Financial charges | 65/66B | €100,106 | €126,068 | +€25,962 | +25.9% |
| Recurring financial charges | 65 | €100,106 | €126,068 | +€25,962 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | -€272,493 | €109,615 | +€382,108 | |
| Income taxes | 67/77 | €18 | €211 | +€193 | +1,072% |
| Profit (loss) for the period | 9904 | -€272,511 | €109,404 | +€381,915 | |
| Profit (loss) for the period to be appropriated | 9905 | -€272,511 | €109,404 | +€381,915 |
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 27 October 2026 via checked.be.