ENERHELL: what changed
Two fiscal 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.
ENERHELL
Largest movements
- Cash +€171,349
up €171,349 (+105.3%), from €162,741 to €334,090
mainly Other debts (+€155,951) and Trade debts (+€126,988)
- Receivables within one year +€148,755
up €148,755 (+23.3%), from €638,408 to €787,163
of which Trade receivables: +€171,540
- Stocks and contracts -€55,915
down €55,915 (-25.0%), from €223,661 to €167,746
- Tangible fixed assets -€19,028
down €19,028 (-30.3%), from €62,854 to €43,825
of which Furniture and vehicles: -€15,757
- Other debts +€155,951
up €155,951 (+583.1%), from €26,745 to €182,696
- Trade debts +€126,988
up €126,988 (+23.0%), from €552,076 to €679,064
- Reserves -€65,500
down €65,500 (-21.9%), from €299,700 to €234,200
of which Distributable reserves: -€65,500
- Tax, wage and social debts +€32,225
up €32,225 (+51.3%), from €62,814 to €95,039
of which Taxes: +€26,633
- Depreciation -€49,684
down €49,684 (-66.5%), from €74,764 to €25,080
- Staff costs +€47,509
up €47,509 (+29.2%), from €162,956 to €210,465
- Other operating charges -€3,998
down €3,998 (-45.8%), from €8,730 to €4,732
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.
Cash bridge derived
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 | €1,146,058 | €1,395,809 | +€249,751 | +21.8% |
| Fixed assets | 21/28 | €82,201 | €63,172 | -€19,028 | -23.1% |
| Tangible fixed assets | 22/27 | €62,854 | €43,825 | -€19,028 | -30.3% |
| Plant, machinery and equipment | 23 | €7,802 | €5,268 | -€2,534 | -32.5% |
| Furniture and vehicles | 24 | €51,512 | €35,755 | -€15,757 | -30.6% |
| Other tangible fixed assets | 26 | €3,539 | €2,802 | -€738 | -20.8% |
| Financial fixed assets | 28 | €19,347 | €19,347 | = | 0.0% |
| Current assets | 29/58 | €1,063,857 | €1,332,637 | +€268,779 | +25.3% |
| Stocks and contracts in progress | 3 | €223,661 | €167,746 | -€55,915 | -25.0% |
| Stocks | 30/36 | €223,661 | €167,746 | -€55,915 | -25.0% |
| Amounts receivable within one year | 40/41 | €638,408 | €787,163 | +€148,755 | +23.3% |
| Trade receivables | 40 | €464,640 | €636,180 | +€171,540 | +36.9% |
| Other amounts receivable | 41 | €173,768 | €150,983 | -€22,785 | -13.1% |
| Cash at bank and in hand | 54/58 | €162,741 | €334,090 | +€171,349 | +105.3% |
| Deferred charges and accrued income | 490/1 | €39,048 | €43,638 | +€4,590 | +11.8% |
| Total equity and liabilities | 10/49 | €1,146,058 | €1,395,809 | +€249,751 | +21.8% |
| Equity | 10/15 | €504,423 | €439,010 | -€65,413 | -13.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €299,700 | €234,200 | -€65,500 | -21.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €293,500 | €228,000 | -€65,500 | -22.3% |
| Profit (loss) carried forward | 14 | €142,723 | €142,810 | +€87 | +0.1% |
| Amounts payable | 17/49 | €641,635 | €956,799 | +€315,164 | +49.1% |
| Amounts payable within one year | 42/48 | €641,635 | €956,799 | +€315,164 | +49.1% |
| Trade debts | 44 | €552,076 | €679,064 | +€126,988 | +23.0% |
| Suppliers | 440/4 | €552,076 | €679,064 | +€126,988 | +23.0% |
| Taxes, remuneration and social security | 45 | €62,814 | €95,039 | +€32,225 | +51.3% |
| Taxes | 450/3 | €9,137 | €35,770 | +€26,633 | +291.5% |
| Remuneration and social security | 454/9 | €53,677 | €59,269 | +€5,592 | +10.4% |
| Other amounts payable | 47/48 | €26,745 | €182,696 | +€155,951 | +583.1% |
| Remuneration, social security and pensions | 62 | €162,956 | €210,465 | +€47,509 | +29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,764 | €25,080 | -€49,684 | -66.5% |
| Other operating charges | 640/8 | €8,730 | €4,732 | -€3,998 | -45.8% |
| Non-recurring operating charges | 66A | €201 | €2,971 | +€2,771 | +1381.9% |
| Gross operating margin | 9900 | €272,692 | €274,462 | +€1,770 | +0.6% |
| Operating profit (loss) | 9901 | €26,042 | €31,214 | +€5,172 | +19.9% |
| Financial income | 75/76B | €66 | €15 | -€51 | -77.3% |
| Recurring financial income | 75 | €66 | €15 | -€51 | -77.3% |
| Financial charges | 65/66B | €4,389 | €3,714 | -€674 | -15.4% |
| Recurring financial charges | 65 | €4,389 | €3,714 | -€674 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €21,719 | €27,515 | +€5,796 | +26.7% |
| Income taxes | 67/77 | €9,084 | €9,928 | +€843 | +9.3% |
| Profit (loss) for the period | 9904 | €12,634 | €17,587 | +€4,953 | +39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,634 | €17,587 | +€4,953 | +39.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.