F 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.
F ENERGY
Largest movements
- Cash +€150,178
up €150,178 (+322%), from €46,579 to €196,756
mainly Other debts (+€118,703) and Deferred charges and accrued income (+€100,894)
- Deferred charges and accrued income -€100,894
down €100,894 (-84.1%), from €120,000 to €19,106
- Tangible fixed assets -€11,605
down €11,605 (-3.0%), from €381,062 to €369,457
of which Land and buildings: -€17,476
- Other debts +€118,703
up €118,703 (+76.6%), from €154,865 to €273,568
- Reserves -€47,497
down €47,497 (-34.4%), from €138,151 to €90,654
- Debts after one year -€42,493
down €42,493 (-29.6%), from €143,504 to €101,011
- Tax, wage and social debts +€7,333
up €7,333 (+14.8%), from €49,504 to €56,837
- Gross operating margin -€65,178
down €65,178 (-31.7%), from €205,658 to €140,480
- Taxes -€20,339
down €20,339 (-45.3%), from €44,888 to €24,549
- Depreciation +€2,609
up €2,609 (+14.5%), from €18,044 to €20,654
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 | €549,821 | €585,770 | +€35,949 | +6.5% |
| Fixed assets | 21/28 | €381,062 | €369,457 | -€11,605 | -3.0% |
| Tangible fixed assets | 22/27 | €381,062 | €369,457 | -€11,605 | -3.0% |
| Land and buildings | 22 | €376,338 | €358,862 | -€17,476 | -4.6% |
| Plant, machinery and equipment | 23 | €3,098 | €2,777 | -€321 | -10.3% |
| Furniture and vehicles | 24 | €1,626 | €7,818 | +€6,192 | +381% |
| Current assets | 29/58 | €168,759 | €216,314 | +€47,554 | +28.2% |
| Amounts receivable within one year | 40/41 | €2,181 | €451 | -€1,730 | -79.3% |
| Trade receivables | 40 | €2,181 | €0 | -€2,181 | -100% |
| Other amounts receivable | 41 | - | €451 | +€451 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €46,579 | €196,756 | +€150,178 | +322% |
| Deferred charges and accrued income | 490/1 | €120,000 | €19,106 | -€100,894 | -84.1% |
| Total equity and liabilities | 10/49 | €549,821 | €585,770 | +€35,949 | +6.5% |
| Equity | 10/15 | €156,751 | €109,254 | -€47,497 | -30.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €138,151 | €90,654 | -€47,497 | -34.4% |
| Distributable reserves | 133 | €138,151 | €90,654 | -€47,497 | -34.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €393,070 | €476,517 | +€83,447 | +21.2% |
| Amounts payable after more than one year | 17 | €143,504 | €101,011 | -€42,493 | -29.6% |
| Financial debts | 170/4 | €143,504 | €101,011 | -€42,493 | -29.6% |
| Amounts payable within one year | 42/48 | €249,481 | €375,415 | +€125,934 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | €42,022 | €42,493 | +€471 | +1.1% |
| Trade debts | 44 | €3,090 | €2,518 | -€572 | -18.5% |
| Suppliers | 440/4 | €3,090 | €2,518 | -€572 | -18.5% |
| Taxes, remuneration and social security | 45 | €49,504 | €56,837 | +€7,333 | +14.8% |
| Taxes | 450/3 | €49,504 | €56,837 | +€7,333 | +14.8% |
| Other amounts payable | 47/48 | €154,865 | €273,568 | +€118,703 | +76.6% |
| Accrued charges and deferred income | 492/3 | €85 | €90 | +€5 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,044 | €20,654 | +€2,609 | +14.5% |
| Other operating charges | 640/8 | €3,242 | €2,339 | -€902 | -27.8% |
| Gross operating margin | 9900 | €205,658 | €140,480 | -€65,178 | -31.7% |
| Operating profit (loss) | 9901 | €184,372 | €117,487 | -€66,885 | -36.3% |
| Financial income | 75/76B | €1,113 | €0 | -€1,113 | -100% |
| Recurring financial income | 75 | €1,113 | €0 | -€1,113 | -100% |
| Financial charges | 65/66B | €2,446 | €2,284 | -€162 | -6.6% |
| Recurring financial charges | 65 | €2,446 | €2,284 | -€162 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €183,039 | €115,203 | -€67,837 | -37.1% |
| Income taxes | 67/77 | €44,888 | €24,549 | -€20,339 | -45.3% |
| Profit (loss) for the period | 9904 | €138,151 | €90,654 | -€47,497 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €138,151 | €90,654 | -€47,497 | -34.4% |
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 19 October 2026 via checked.be.