ENERJI: 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.
ENERJI
Largest movements
- Stocks and contracts -€25,893
down €25,893 (-14.4%), from €179,292 to €153,399
- Receivables within one year -€14,300
down €14,300 (-17.5%), from €81,852 to €67,551
of which Trade receivables: -€18,979
- Cash -€5,927
down €5,927 (-6.2%), from €94,981 to €89,054
mainly Net result for the year (-€27,569) and Trade debts (-€19,609)
- Tangible fixed assets -€5,042
down €5,042 (-98.4%), from €5,125 to €83
- Profit (loss) carried forward -€27,569
down €27,569 (-8.3%), from €331,437 to €303,868
- Trade debts -€19,609
down €19,609 (-50.4%), from €38,900 to €19,290
- Gross operating margin -€31,943
down €31,943, from €2,040 to -€29,902
- Taxes -€4,674
no longer reported in 2025 (was €4,674)
- Financial income +€681
up €681 (+8.8%), from €7,708 to €8,390
- Financial charges -€568
down €568 (-69.6%), from €815 to €248
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 | €445,107 | €397,249 | -€47,859 | -10.8% |
| Fixed assets | 21/28 | €11,365 | €6,323 | -€5,042 | -44.4% |
| Tangible fixed assets | 22/27 | €5,125 | €83 | -€5,042 | -98.4% |
| Furniture and vehicles | 24 | €5,125 | €83 | -€5,042 | -98.4% |
| Financial fixed assets | 28 | €6,240 | €6,240 | = | 0.0% |
| Current assets | 29/58 | €433,743 | €390,926 | -€42,817 | -9.9% |
| Amounts receivable after more than one year | 29 | €73,253 | €75,469 | +€2,216 | +3.0% |
| Other amounts receivable | 291 | €73,253 | €75,469 | +€2,216 | +3.0% |
| Stocks and contracts in progress | 3 | €179,292 | €153,399 | -€25,893 | -14.4% |
| Stocks | 30/36 | €179,292 | €153,399 | -€25,893 | -14.4% |
| Amounts receivable within one year | 40/41 | €81,852 | €67,551 | -€14,300 | -17.5% |
| Trade receivables | 40 | €41,767 | €22,788 | -€18,979 | -45.4% |
| Other amounts receivable | 41 | €40,085 | €44,763 | +€4,678 | +11.7% |
| Cash at bank and in hand | 54/58 | €94,981 | €89,054 | -€5,927 | -6.2% |
| Deferred charges and accrued income | 490/1 | €4,365 | €5,453 | +€1,088 | +24.9% |
| Total equity and liabilities | 10/49 | €445,107 | €397,249 | -€47,859 | -10.8% |
| Equity | 10/15 | €397,882 | €370,313 | -€27,569 | -6.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,845 | €47,845 | = | 0.0% |
| Tax-exempt reserves | 132 | €93 | €93 | = | 0.0% |
| Distributable reserves | 133 | €47,752 | €47,752 | = | 0.0% |
| Profit (loss) carried forward | 14 | €331,437 | €303,868 | -€27,569 | -8.3% |
| Amounts payable | 17/49 | €47,226 | €26,936 | -€20,290 | -43.0% |
| Amounts payable within one year | 42/48 | €47,226 | €26,936 | -€20,290 | -43.0% |
| Trade debts | 44 | €38,900 | €19,290 | -€19,609 | -50.4% |
| Suppliers | 440/4 | €38,900 | €19,290 | -€19,609 | -50.4% |
| Advances received on contracts in progress | 46 | €2,315 | €370 | -€1,945 | -84.0% |
| Taxes, remuneration and social security | 45 | €6,011 | €7,275 | +€1,264 | +21.0% |
| Taxes | 450/3 | €2,537 | €3,507 | +€971 | +38.3% |
| Remuneration and social security | 454/9 | €3,474 | €3,767 | +€294 | +8.5% |
| Non-recurring operating income | 76A | - | €2,066 | +€2,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,042 | €5,042 | +€0 | 0.0% |
| Other operating charges | 640/8 | €746 | €766 | +€20 | +2.7% |
| Gross operating margin | 9900 | €2,040 | -€29,902 | -€31,943 | |
| Operating profit (loss) | 9901 | -€3,747 | -€35,710 | -€31,963 | -852.9% |
| Financial income | 75/76B | €7,708 | €8,390 | +€681 | +8.8% |
| Recurring financial income | 75 | €7,708 | €8,390 | +€681 | +8.8% |
| Financial charges | 65/66B | €815 | €248 | -€568 | -69.6% |
| Recurring financial charges | 65 | €815 | €248 | -€568 | -69.6% |
| Profit (loss) for the period before taxes | 9903 | €3,145 | -€27,569 | -€30,714 | |
| Income taxes | 67/77 | €4,674 | - | -€4,674 | |
| Profit (loss) for the period | 9904 | -€1,528 | -€27,569 | -€26,040 | -1703.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,528 | -€27,569 | -€26,040 | -1703.9% |
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 11 October 2026 via checked.be.