Ether Energy: 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.
Ether Energy
Largest movements
- Receivables within one year +€726,733
up €726,733 (+157%), from €464,090 to €1.2m
of which Trade receivables: +€700,314
- Financial fixed assets +€196,950
up €196,950 (+124%), from €158,840 to €355,790
- Cash +€63,626
up €63,626 (+19.0%), from €335,309 to €398,935
mainly Other debts (+€395,187) and Trade debts (+€328,283)
- Other debts +€395,187
new in 2025: €395,187
- Trade debts +€328,283
up €328,283 (+302%), from €108,536 to €436,820
- Contributions +€204,121
up €204,121 (+204%), from €99,999 to €304,120
- Profit (loss) carried forward +€48,699
up €48,699 (+6.1%), from €802,504 to €851,203
- Gross operating margin -€643,615
down €643,615 (-61.8%), from €1.0m to €397,926
- Staff costs -€242,952
down €242,952 (-42.1%), from €577,079 to €334,126
- Financial income +€12,945
up €12,945 (+1,246%), from €1,039 to €13,984
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 | €1,065,233 | €2,044,227 | +€978,994 | +91.9% |
| Fixed assets | 21/28 | €201,672 | €382,308 | +€180,636 | +89.6% |
| Intangible fixed assets | 21 | €35,269 | €23,524 | -€11,745 | -33.3% |
| Tangible fixed assets | 22/27 | €7,564 | €2,994 | -€4,569 | -60.4% |
| Furniture and vehicles | 24 | €7,564 | €2,994 | -€4,569 | -60.4% |
| Financial fixed assets | 28 | €158,840 | €355,790 | +€196,950 | +124% |
| Current assets | 29/58 | €863,561 | €1,661,919 | +€798,358 | +92.4% |
| Amounts receivable after more than one year | 29 | €44,000 | €44,000 | = | 0.0% |
| Other amounts receivable | 291 | €44,000 | €44,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €464,090 | €1,190,823 | +€726,733 | +157% |
| Trade receivables | 40 | €275,914 | €976,228 | +€700,314 | +254% |
| Other amounts receivable | 41 | €188,176 | €214,595 | +€26,419 | +14.0% |
| Cash at bank and in hand | 54/58 | €335,309 | €398,935 | +€63,626 | +19.0% |
| Deferred charges and accrued income | 490/1 | €20,162 | €28,161 | +€7,999 | +39.7% |
| Total equity and liabilities | 10/49 | €1,065,233 | €2,044,227 | +€978,994 | +91.9% |
| Equity | 10/15 | €924,835 | €1,180,275 | +€255,440 | +27.6% |
| Contributions | 10/11 | €99,999 | €304,120 | +€204,121 | +204% |
| Capital | 10 | €99,999 | €304,120 | +€204,121 | +204% |
| Issued capital | 100 | €99,999 | €304,120 | +€204,121 | +204% |
| Reserves | 13 | €22,333 | €24,952 | +€2,620 | +11.7% |
| Non-distributable reserves | 130/1 | €22,333 | €24,952 | +€2,620 | +11.7% |
| Legal reserve | 130 | €22,333 | €24,952 | +€2,620 | +11.7% |
| Profit (loss) carried forward | 14 | €802,504 | €851,203 | +€48,699 | +6.1% |
| Amounts payable | 17/49 | €140,398 | €863,952 | +€723,554 | +515% |
| Amounts payable within one year | 42/48 | €140,398 | €863,952 | +€723,554 | +515% |
| Trade debts | 44 | €108,536 | €436,820 | +€328,283 | +302% |
| Suppliers | 440/4 | €108,536 | €436,820 | +€328,283 | +302% |
| Taxes, remuneration and social security | 45 | €31,862 | €31,945 | +€83 | +0.3% |
| Remuneration and social security | 454/9 | €31,862 | €31,945 | +€83 | +0.3% |
| Other amounts payable | 47/48 | - | €395,187 | +€395,187 | |
| Non-recurring operating income | 76A | €404,500 | - | -€404,500 | |
| Remuneration, social security and pensions | 62 | €577,079 | €334,126 | -€242,952 | -42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,096 | €16,314 | +€4,218 | +34.9% |
| Other operating charges | 640/8 | €4,160 | €1,891 | -€2,269 | -54.5% |
| Gross operating margin | 9900 | €1,041,542 | €397,926 | -€643,615 | -61.8% |
| Operating profit (loss) | 9901 | €448,207 | €45,595 | -€402,612 | -89.8% |
| Financial income | 75/76B | €1,039 | €13,984 | +€12,945 | +1,246% |
| Recurring financial income | 75 | €1,039 | €13,984 | +€12,945 | +1,246% |
| Financial charges | 65/66B | €2,596 | €5,608 | +€3,012 | +116% |
| Recurring financial charges | 65 | €2,596 | €5,608 | +€3,012 | +116% |
| Profit (loss) for the period before taxes | 9903 | €446,650 | €53,970 | -€392,680 | -87.9% |
| Profit (loss) for the period | 9904 | €446,650 | €53,970 | -€392,680 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €446,650 | €53,970 | -€392,680 | -87.9% |
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 26 October 2026 via checked.be.