ENRGY: 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.
ENRGY
Largest movements
- Cash +€51,419
up €51,419 (+27.6%), from €186,345 to €237,764
mainly Net result for the year (+€79,604) and Depreciation (+€25,877)
- Tangible fixed assets -€25,877
down €25,877 (-3.8%), from €689,549 to €663,673
of which Land and buildings: -€22,650
- Financial fixed assets -€23,333
down €23,333 (-50.0%), from €46,667 to €23,333
- Reserves +€79,604
up €79,604 (+24.0%), from €332,228 to €411,832
- Debts after one year -€43,133
down €43,133 (-8.7%), from €496,278 to €453,146
- Other debts -€34,676
down €34,676 (-84.1%), from €41,248 to €6,572
- Gross operating margin +€9,790
up €9,790 (+7.3%), from €133,289 to €143,079
- Financial charges -€6,041
down €6,041 (-53.2%), from €11,346 to €5,305
- Taxes +€4,386
up €4,386 (+16.6%), from €26,374 to €30,760
- Depreciation +€1,605
up €1,605 (+6.6%), from €24,272 to €25,877
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 | €954,160 | €958,460 | +€4,300 | +0.5% |
| Fixed assets | 21/28 | €736,216 | €687,006 | -€49,210 | -6.7% |
| Tangible fixed assets | 22/27 | €689,549 | €663,673 | -€25,877 | -3.8% |
| Land and buildings | 22 | €681,492 | €658,842 | -€22,650 | -3.3% |
| Furniture and vehicles | 24 | €8,058 | €4,831 | -€3,227 | -40.0% |
| Financial fixed assets | 28 | €46,667 | €23,333 | -€23,333 | -50.0% |
| Current assets | 29/58 | €217,944 | €271,454 | +€53,510 | +24.6% |
| Amounts receivable within one year | 40/41 | €28,275 | €31,683 | +€3,408 | +12.1% |
| Trade receivables | 40 | €28,092 | €31,500 | +€3,408 | +12.1% |
| Other amounts receivable | 41 | €183 | €183 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €186,345 | €237,764 | +€51,419 | +27.6% |
| Deferred charges and accrued income | 490/1 | €3,324 | €2,007 | -€1,317 | -39.6% |
| Total equity and liabilities | 10/49 | €954,160 | €958,460 | +€4,300 | +0.5% |
| Equity | 10/15 | €338,425 | €418,029 | +€79,604 | +23.5% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €332,228 | €411,832 | +€79,604 | +24.0% |
| Distributable reserves | 133 | €332,228 | €411,832 | +€79,604 | +24.0% |
| Amounts payable | 17/49 | €615,735 | €540,431 | -€75,304 | -12.2% |
| Amounts payable after more than one year | 17 | €496,278 | €453,146 | -€43,133 | -8.7% |
| Financial debts | 170/4 | €496,278 | €453,146 | -€43,133 | -8.7% |
| Amounts payable within one year | 42/48 | €119,456 | €87,285 | -€32,171 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €42,750 | €43,133 | +€383 | +0.9% |
| Trade debts | 44 | €171 | €984 | +€813 | +474% |
| Suppliers | 440/4 | €171 | €984 | +€813 | +474% |
| Taxes, remuneration and social security | 45 | €35,287 | €36,596 | +€1,309 | +3.7% |
| Taxes | 450/3 | €35,287 | €36,596 | +€1,309 | +3.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €41,248 | €6,572 | -€34,676 | -84.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,272 | €25,877 | +€1,605 | +6.6% |
| Other operating charges | 640/8 | €3,752 | €3,948 | +€197 | +5.2% |
| Gross operating margin | 9900 | €133,289 | €143,079 | +€9,790 | +7.3% |
| Operating profit (loss) | 9901 | €105,266 | €113,254 | +€7,988 | +7.6% |
| Financial income | 75/76B | €2,249 | €2,415 | +€166 | +7.4% |
| Recurring financial income | 75 | €2,249 | €2,415 | +€166 | +7.4% |
| Financial charges | 65/66B | €11,346 | €5,305 | -€6,041 | -53.2% |
| Recurring financial charges | 65 | €11,346 | €5,305 | -€6,041 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €96,169 | €110,364 | +€14,196 | +14.8% |
| Income taxes | 67/77 | €26,374 | €30,760 | +€4,386 | +16.6% |
| Profit (loss) for the period | 9904 | €69,795 | €79,604 | +€9,809 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €69,795 | €79,604 | +€9,809 | +14.1% |
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 28 October 2026 via checked.be.