Enersee: 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.
Enersee
Largest movements
- Current investments +€2.0m
new in 2025: €2.0m
- Intangible fixed assets +€221,899
up €221,899 (+38.6%), from €574,772 to €796,672
- Cash -€93,817
down €93,817 (-13.1%), from €716,451 to €622,634
mainly Current investments (-€2.0m) and Net result for the year (-€1.2m)
- Receivables within one year +€61,320
up €61,320 (+114%), from €53,580 to €114,900
of which Other amounts receivable: +€35,064
- Contributions +€3.5m
up €3.5m (+276%), from €1.3m to €4.8m
- Profit (loss) carried forward -€1.2m
down €1.2m (-121%), from -€985,108 to -€2.2m
- Debts after one year -€430,161
down €430,161 (-65.9%), from €653,189 to €223,027
- Investment grants +€149,533
up €149,533 (+54.9%), from €272,240 to €421,772
- Current portion of long-term debt +€46,358
new in 2025: €46,358
- Gross operating margin -€375,306
down €375,306 (-102%), from -€367,086 to -€742,392
- Staff costs +€155,822
up €155,822 (+89.8%), from €173,475 to €329,296
- Depreciation +€86,773
up €86,773 (+82.9%), from €104,669 to €191,442
- Financial income +€50,456
up €50,456 (+85.9%), from €58,724 to €109,180
- Financial charges +€28,212
up €28,212 (+884%), from €3,193 to €31,405
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 | €1,373,448 | €3,558,701 | +€2.2m | +159% |
| Fixed assets | 21/28 | €587,649 | €818,980 | +€231,331 | +39.4% |
| Intangible fixed assets | 21 | €574,772 | €796,672 | +€221,899 | +38.6% |
| Tangible fixed assets | 22/27 | €10,496 | €19,928 | +€9,432 | +89.9% |
| Furniture and vehicles | 24 | €10,496 | €19,928 | +€9,432 | +89.9% |
| Financial fixed assets | 28 | €2,380 | €2,380 | = | 0.0% |
| Current assets | 29/58 | €785,800 | €2,739,721 | +€2.0m | +249% |
| Amounts receivable within one year | 40/41 | €53,580 | €114,900 | +€61,320 | +114% |
| Trade receivables | 40 | €39,922 | €66,178 | +€26,256 | +65.8% |
| Other amounts receivable | 41 | €13,658 | €48,722 | +€35,064 | +257% |
| Current investments | 50/53 | - | €1,990,000 | +€2.0m | |
| Cash at bank and in hand | 54/58 | €716,451 | €622,634 | -€93,817 | -13.1% |
| Deferred charges and accrued income | 490/1 | €15,769 | €12,187 | -€3,582 | -22.7% |
| Total equity and liabilities | 10/49 | €1,373,448 | €3,558,701 | +€2.2m | +159% |
| Equity | 10/15 | €568,871 | €3,071,904 | +€2.5m | +440% |
| Contributions | 10/11 | €1,281,740 | €4,822,487 | +€3.5m | +276% |
| Profit (loss) carried forward | 14 | -€985,108 | -€2,172,355 | -€1.2m | -121% |
| Investment grants | 15 | €272,240 | €421,772 | +€149,533 | +54.9% |
| Amounts payable | 17/49 | €804,577 | €486,797 | -€317,780 | -39.5% |
| Amounts payable after more than one year | 17 | €653,189 | €223,027 | -€430,161 | -65.9% |
| Financial debts | 170/4 | €653,189 | €223,027 | -€430,161 | -65.9% |
| Amounts payable within one year | 42/48 | €133,172 | €236,735 | +€103,563 | +77.8% |
| Current portion of amounts payable after more than one year | 42 | - | €46,358 | +€46,358 | |
| Trade debts | 44 | €116,664 | €150,051 | +€33,386 | +28.6% |
| Suppliers | 440/4 | €116,664 | €150,051 | +€33,386 | +28.6% |
| Taxes, remuneration and social security | 45 | €14,858 | €38,676 | +€23,818 | +160% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €14,858 | €38,676 | +€23,818 | +160% |
| Other amounts payable | 47/48 | €1,649 | €1,649 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €18,217 | €27,036 | +€8,819 | +48.4% |
| Remuneration, social security and pensions | 62 | €173,475 | €329,296 | +€155,822 | +89.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,669 | €191,442 | +€86,773 | +82.9% |
| Other operating charges | 640/8 | €3,585 | €1,696 | -€1,889 | -52.7% |
| Gross operating margin | 9900 | -€367,086 | -€742,392 | -€375,306 | -102% |
| Operating profit (loss) | 9901 | -€648,815 | -€1,264,826 | -€616,012 | -94.9% |
| Financial income | 75/76B | €58,724 | €109,180 | +€50,456 | +85.9% |
| Recurring financial income | 75 | €58,724 | €109,180 | +€50,456 | +85.9% |
| Financial charges | 65/66B | €3,193 | €31,405 | +€28,212 | +884% |
| Recurring financial charges | 65 | €3,193 | €31,405 | +€28,212 | +884% |
| Profit (loss) for the period before taxes | 9903 | -€593,284 | -€1,187,051 | -€593,767 | -100% |
| Income taxes | 67/77 | - | €195 | +€195 | |
| Profit (loss) for the period | 9904 | -€593,284 | -€1,187,246 | -€593,962 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€593,284 | -€1,187,246 | -€593,962 | -100% |
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 15 October 2026 via checked.be.