EnRG-PROJECTS: 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.
EnRG-PROJECTS
Largest movements
- Tangible fixed assets -€42,528
down €42,528 (-14.4%), from €294,814 to €252,286
of which Land and buildings: -€31,585
- Cash +€25,076
up €25,076 (+40.8%), from €61,494 to €86,570
mainly Net result for the year (+€57,114) and Depreciation (+€43,356)
- Current investments +€11,823
up €11,823 (+17.0%), from €69,590 to €81,413
- Debts after one year -€32,442
down €32,442 (-28.0%), from €115,817 to €83,375
- Reserves +€29,211
up €29,211 (+9.4%), from €310,900 to €340,111
- Current portion of long-term debt -€9,387
down €9,387 (-22.4%), from €41,828 to €32,442
- Gross operating margin +€15,715
up €15,715 (+13.3%), from €118,161 to €133,876
- Taxes +€6,756
up €6,756 (+37.2%), from €18,161 to €24,917
- Other operating charges -€5,092
down €5,092 (-54.2%), from €9,387 to €4,295
- Financial income +€2,804
up €2,804 (+469.1%), from €598 to €3,402
- Financial charges -€2,244
down €2,244 (-23.7%), from €9,469 to €7,225
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 | €479,673 | €471,889 | -€7,784 | -1.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €324,564 | €282,036 | -€42,528 | -13.1% |
| Tangible fixed assets | 22/27 | €294,814 | €252,286 | -€42,528 | -14.4% |
| Land and buildings | 22 | €266,609 | €235,023 | -€31,585 | -11.8% |
| Furniture and vehicles | 24 | €28,206 | €17,263 | -€10,943 | -38.8% |
| Financial fixed assets | 28 | €29,750 | €29,750 | = | 0.0% |
| Current assets | 29/58 | €155,109 | €189,853 | +€34,744 | +22.4% |
| Amounts receivable within one year | 40/41 | €1,016 | €1,016 | = | 0.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,016 | €1,016 | = | 0.0% |
| Current investments | 50/53 | €69,590 | €81,413 | +€11,823 | +17.0% |
| Cash at bank and in hand | 54/58 | €61,494 | €86,570 | +€25,076 | +40.8% |
| Deferred charges and accrued income | 490/1 | €23,009 | €20,854 | -€2,155 | -9.4% |
| Total equity and liabilities | 10/49 | €479,673 | €471,889 | -€7,784 | -1.6% |
| Equity | 10/15 | €310,900 | €340,111 | +€29,211 | +9.4% |
| Reserves | 13 | €310,900 | €340,111 | +€29,211 | +9.4% |
| Distributable reserves | 133 | €310,900 | €340,111 | +€29,211 | +9.4% |
| Amounts payable | 17/49 | €168,773 | €131,778 | -€36,995 | -21.9% |
| Amounts payable after more than one year | 17 | €115,817 | €83,375 | -€32,442 | -28.0% |
| Financial debts | 170/4 | €115,817 | €83,375 | -€32,442 | -28.0% |
| Amounts payable within one year | 42/48 | €51,624 | €47,070 | -€4,554 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €41,828 | €32,442 | -€9,387 | -22.4% |
| Trade debts | 44 | €3,244 | €2,540 | -€705 | -21.7% |
| Suppliers | 440/4 | €3,244 | €2,540 | -€705 | -21.7% |
| Taxes, remuneration and social security | 45 | €3,188 | €6,946 | +€3,757 | +117.9% |
| Taxes | 450/3 | €3,188 | €6,946 | +€3,757 | +117.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,363 | €5,144 | +€1,781 | +52.9% |
| Accrued charges and deferred income | 492/3 | €1,333 | €1,333 | = | 0.0% |
| Non-recurring operating income | 76A | €2,237 | €1,532 | -€705 | -31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,596 | €43,356 | +€761 | +1.8% |
| Other operating charges | 640/8 | €9,387 | €4,295 | -€5,092 | -54.2% |
| Non-recurring operating charges | 66A | €631 | €370 | -€261 | -41.3% |
| Gross operating margin | 9900 | €118,161 | €133,876 | +€15,715 | +13.3% |
| Operating profit (loss) | 9901 | €65,547 | €85,854 | +€20,307 | +31.0% |
| Financial income | 75/76B | €598 | €3,402 | +€2,804 | +469.1% |
| Recurring financial income | 75 | €598 | €3,402 | +€2,804 | +469.1% |
| Financial charges | 65/66B | €9,469 | €7,225 | -€2,244 | -23.7% |
| Recurring financial charges | 65 | €9,469 | €7,225 | -€2,244 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €56,676 | €82,031 | +€25,355 | +44.7% |
| Income taxes | 67/77 | €18,161 | €24,917 | +€6,756 | +37.2% |
| Profit (loss) for the period | 9904 | €38,515 | €57,114 | +€18,599 | +48.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,515 | €57,114 | +€18,599 | +48.3% |
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.