Enthrust Energy: what changed
Two fiscal 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.
Enthrust Energy
Largest movements
- Receivables within one year -€70,042
down €70,042 (-62.7%), from €111,764 to €41,721
of which Trade receivables: -€108,490
- Cash +€43,108
up €43,108 (+1268.7%), from €3,398 to €46,506
mainly Receivables within one year (+€70,042) and Net result for the year (+€52,507)
- Stocks and contracts -€11,950
no longer reported in 2025 (was €11,950)
- Tangible fixed assets +€6,004
up €6,004 (+435.3%), from €1,379 to €7,383
of which Plant, machinery and equipment: +€5,522
- Financial fixed assets -€1,588
no longer reported in 2025 (was €1,588)
- Other debts -€79,604
down €79,604 (-99.7%), from €79,837 to €234
- Reserves +€52,507
up €52,507 (+144.9%), from €36,238 to €88,745
- Tax, wage and social debts -€7,230
down €7,230 (-83.7%), from €8,641 to €1,411
- Staff costs -€46,461
down €46,461 (-93.9%), from €49,482 to €3,021
- Gross operating margin +€22,574
up €22,574 (+41.2%), from €54,799 to €77,372
- Taxes +€16,232
up €16,232 (+1179.8%), from €1,376 to €17,608
- Depreciation +€3,021
up €3,021 (+274.3%), from €1,101 to €4,122
- Financial charges -€811
down €811 (-87.7%), from €925 to €114
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 | €131,020 | €96,389 | -€34,631 | -26.4% |
| Fixed assets | 21/28 | €3,460 | €7,500 | +€4,040 | +116.8% |
| Intangible fixed assets | 21 | €492 | €117 | -€375 | -76.2% |
| Tangible fixed assets | 22/27 | €1,379 | €7,383 | +€6,004 | +435.3% |
| Plant, machinery and equipment | 23 | €905 | €6,427 | +€5,522 | +610.2% |
| Furniture and vehicles | 24 | €474 | €957 | +€482 | +101.7% |
| Financial fixed assets | 28 | €1,588 | - | -€1,588 | |
| Current assets | 29/58 | €127,560 | €88,889 | -€38,671 | -30.3% |
| Stocks and contracts in progress | 3 | €11,950 | - | -€11,950 | |
| Stocks | 30/36 | €11,950 | - | -€11,950 | |
| Amounts receivable within one year | 40/41 | €111,764 | €41,721 | -€70,042 | -62.7% |
| Trade receivables | 40 | €110,544 | €2,054 | -€108,490 | -98.1% |
| Other amounts receivable | 41 | €1,219 | €39,667 | +€38,448 | +3152.9% |
| Cash at bank and in hand | 54/58 | €3,398 | €46,506 | +€43,108 | +1268.7% |
| Deferred charges and accrued income | 490/1 | €449 | €661 | +€213 | +47.4% |
| Total equity and liabilities | 10/49 | €131,020 | €96,389 | -€34,631 | -26.4% |
| Equity | 10/15 | €42,238 | €94,745 | +€52,507 | +124.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €36,238 | €88,745 | +€52,507 | +144.9% |
| Distributable reserves | 133 | €36,238 | €88,745 | +€52,507 | +144.9% |
| Amounts payable | 17/49 | €88,782 | €1,644 | -€87,138 | -98.1% |
| Amounts payable within one year | 42/48 | €88,782 | €1,644 | -€87,138 | -98.1% |
| Trade debts | 44 | €304 | - | -€304 | |
| Suppliers | 440/4 | €304 | - | -€304 | |
| Taxes, remuneration and social security | 45 | €8,641 | €1,411 | -€7,230 | -83.7% |
| Taxes | 450/3 | €8,641 | €1,411 | -€7,230 | -83.7% |
| Other amounts payable | 47/48 | €79,837 | €234 | -€79,604 | -99.7% |
| Remuneration, social security and pensions | 62 | €49,482 | €3,021 | -€46,461 | -93.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,101 | €4,122 | +€3,021 | +274.3% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €54,799 | €77,372 | +€22,574 | +41.2% |
| Operating profit (loss) | 9901 | €3,828 | €70,229 | +€66,401 | +1734.7% |
| Financial income | 75/76B | €22 | - | -€22 | |
| Recurring financial income | 75 | €22 | - | -€22 | |
| Financial charges | 65/66B | €925 | €114 | -€811 | -87.7% |
| Recurring financial charges | 65 | €925 | €114 | -€811 | -87.7% |
| Profit (loss) for the period before taxes | 9903 | €2,925 | €70,115 | +€67,190 | +2297.1% |
| Income taxes | 67/77 | €1,376 | €17,608 | +€16,232 | +1179.8% |
| Profit (loss) for the period | 9904 | €1,549 | €52,507 | +€50,958 | +3289.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,549 | €52,507 | +€50,958 | +3289.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.