ENERSO HOLDING: what changed
What changed
ENERSO HOLDING
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€136,824
2024 · -€73,743-€63,081
Equity
€2.7m
2024 · €2.8m-€136,824
Cash
€30,936
2024 · €73,255-€42,319
Balance sheet total
€8.3m
2024 · €6.7m+€1.5m
Largest movements
Assets
- Tangible fixed assets +€1.6m
up €1.6m (+38.0%), from €4.1m to €5.7m
of which Land and buildings: +€1.6m
- Current investments -€211,141
down €211,141 (-47.4%), from €445,159 to €234,018
- Financial fixed assets +€149,217
up €149,217 (+10.2%), from €1.5m to €1.6m
Equity and liabilities
- Other debts +€1.1m
up €1.1m (+723%), from €157,535 to €1.3m
- Debts after one year +€473,925
up €473,925 (+14.1%), from €3.4m to €3.8m
- Reserves -€136,824
down €136,824 (-4.8%), from €2.8m to €2.7m
of which Distributable reserves: -€136,824
Income statement
- Depreciation +€202,729
up €202,729 (+119%), from €170,602 to €373,331
- Gross operating margin +€164,509
up €164,509 (+104%), from €157,869 to €322,379
- Financial charges +€53,974
up €53,974 (+57.8%), from €93,359 to €147,333
- Financial income +€49,714
up €49,714 (+83.5%), from €59,531 to €109,246
- Other operating charges +€14,407
up €14,407 (+106%), from €13,618 to €28,025
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€73,743
Gross operating margin
+€164,509
Staff costs
-€7,315
Depreciation
-€202,729
Other operating charges
-€14,407
Financial income
+€49,714
Financial charges
-€53,974
Taxes
+€1,120
Result 2025
-€136,824
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.3m
Investment
-€1.9m
Financing
+€518,456
Cash 2024
€73,255
From operations (derived)
+€1.3m
Net result for the year
-€136,824
Depreciation
+€373,331
Receivables after one year
-€76,429
Receivables within one year
+€11,822
Smaller working-capital items
+€11,054
Other debts
+€1.1m
Investment (derived)
-€1.9m
Investment in fixed assets (net)
-€2.1m
Current investments
+€211,141
Financing
+€518,456
Debts after one year
+€473,925
Current portion of long-term debt
+€44,531
Cash 2025
€30,936
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,733,468 | €8,263,517 | +€1.5m | +22.7% |
| Fixed assets | 21/28 | €5,598,799 | €7,319,545 | +€1.7m | +30.7% |
| Tangible fixed assets | 22/27 | €4,133,765 | €5,705,294 | +€1.6m | +38.0% |
| Land and buildings | 22 | €4,120,007 | €5,693,457 | +€1.6m | +38.2% |
| Plant, machinery and equipment | 23 | €3,670 | €2,747 | -€923 | -25.1% |
| Furniture and vehicles | 24 | €10,088 | €9,090 | -€998 | -9.9% |
| Financial fixed assets | 28 | €1,465,034 | €1,614,251 | +€149,217 | +10.2% |
| Current assets | 29/58 | €1,134,669 | €943,972 | -€190,697 | -16.8% |
| Amounts receivable after more than one year | 29 | €501,420 | €577,849 | +€76,429 | +15.2% |
| Other amounts receivable | 291 | €501,420 | €577,849 | +€76,429 | +15.2% |
| Amounts receivable within one year | 40/41 | €99,280 | €87,458 | -€11,822 | -11.9% |
| Trade receivables | 40 | €85,617 | €59,387 | -€26,231 | -30.6% |
| Other amounts receivable | 41 | €13,662 | €28,071 | +€14,408 | +105% |
| Current investments | 50/53 | €445,159 | €234,018 | -€211,141 | -47.4% |
| Cash at bank and in hand | 54/58 | €73,255 | €30,936 | -€42,319 | -57.8% |
| Deferred charges and accrued income | 490/1 | €15,555 | €13,712 | -€1,844 | -11.9% |
| Total equity and liabilities | 10/49 | €6,733,468 | €8,263,517 | +€1.5m | +22.7% |
| Equity | 10/15 | €2,849,614 | €2,712,790 | -€136,824 | -4.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,843,414 | €2,706,590 | -€136,824 | -4.8% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €2,805,914 | €2,669,090 | -€136,824 | -4.9% |
| Amounts payable | 17/49 | €3,883,854 | €5,550,727 | +€1.7m | +42.9% |
| Amounts payable after more than one year | 17 | €3,355,233 | €3,829,158 | +€473,925 | +14.1% |
| Financial debts | 170/4 | €3,355,233 | €3,829,158 | +€473,925 | +14.1% |
| Amounts payable within one year | 42/48 | €528,621 | €1,721,569 | +€1.2m | +226% |
| Current portion of amounts payable after more than one year | 42 | €332,457 | €376,987 | +€44,531 | +13.4% |
| Trade debts | 44 | €26,775 | €31,023 | +€4,248 | +15.9% |
| Suppliers | 440/4 | €26,775 | €31,023 | +€4,248 | +15.9% |
| Taxes, remuneration and social security | 45 | €11,854 | €16,816 | +€4,962 | +41.9% |
| Taxes | 450/3 | €9,500 | €9,816 | +€316 | +3.3% |
| Remuneration and social security | 454/9 | €2,354 | €7,000 | +€4,646 | +197% |
| Other amounts payable | 47/48 | €157,535 | €1,296,742 | +€1.1m | +723% |
| Remuneration, social security and pensions | 62 | €12,005 | €19,320 | +€7,315 | +60.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,602 | €373,331 | +€202,729 | +119% |
| Other operating charges | 640/8 | €13,618 | €28,025 | +€14,407 | +106% |
| Gross operating margin | 9900 | €157,869 | €322,379 | +€164,509 | +104% |
| Operating profit (loss) | 9901 | -€38,357 | -€98,298 | -€59,941 | -156% |
| Financial income | 75/76B | €59,531 | €109,246 | +€49,714 | +83.5% |
| Recurring financial income | 75 | €59,531 | €109,246 | +€49,714 | +83.5% |
| Financial charges | 65/66B | €93,359 | €147,333 | +€53,974 | +57.8% |
| Recurring financial charges | 65 | €93,359 | €147,333 | +€53,974 | +57.8% |
| Profit (loss) for the period before taxes | 9903 | -€72,185 | -€136,385 | -€64,201 | -88.9% |
| Income taxes | 67/77 | €1,559 | €439 | -€1,120 | -71.9% |
| Profit (loss) for the period | 9904 | -€73,743 | -€136,824 | -€63,081 | -85.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,743 | -€136,824 | -€63,081 | -85.5% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.