FinEnergy: 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.
FinEnergy
Largest movements
- Receivables within one year +€1.0m
up €1.0m (+183%), from €563,321 to €1.6m
of which Trade receivables: +€842,634
- Cash -€980,212
down €980,212 (-80.2%), from €1.2m to €241,982
mainly Contributions, distributions and other (-€1.1m) and Receivables within one year (-€1.0m)
- Current investments +€854,702
up €854,702 (+140%), from €611,459 to €1.5m
- Other debts +€949,550
up €949,550 (+7,719%), from €12,302 to €961,852
- Trade debts +€622,079
up €622,079 (+80.7%), from €770,767 to €1.4m
- Profit (loss) carried forward -€592,116
down €592,116 (-100.0%), from €592,117 to €1
- Reserves -€65,605
down €65,605 (-5.8%), from €1.1m to €1.1m
of which Distributable reserves: -€60,105
- Financial income +€44,395
up €44,395 (+18.7%), from €237,081 to €281,476
- Gross operating margin +€35,050
up €35,050 (+11.9%), from €295,341 to €330,390
- Taxes +€28,056
up €28,056 (+38.4%), from €73,032 to €101,088
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 | €2,717,658 | €3,610,496 | +€892,838 | +32.9% |
| Fixed assets | 21/28 | €315,352 | €304,016 | -€11,335 | -3.6% |
| Tangible fixed assets | 22/27 | €50,581 | €39,246 | -€11,335 | -22.4% |
| Land and buildings | 22 | €9,532 | €9,185 | -€346 | -3.6% |
| Plant, machinery and equipment | 23 | €91 | - | -€91 | |
| Furniture and vehicles | 24 | €37,325 | €22,120 | -€15,205 | -40.7% |
| Other tangible fixed assets | 26 | €3,633 | €7,941 | +€4,308 | +119% |
| Financial fixed assets | 28 | €264,770 | €264,770 | = | 0.0% |
| Current assets | 29/58 | €2,402,307 | €3,306,480 | +€904,173 | +37.6% |
| Amounts receivable within one year | 40/41 | €563,321 | €1,594,151 | +€1.0m | +183% |
| Trade receivables | 40 | €563,317 | €1,405,951 | +€842,634 | +150% |
| Other amounts receivable | 41 | €4 | €188,200 | +€188,196 | +4,480,852% |
| Current investments | 50/53 | €611,459 | €1,466,161 | +€854,702 | +140% |
| Cash at bank and in hand | 54/58 | €1,222,194 | €241,982 | -€980,212 | -80.2% |
| Deferred charges and accrued income | 490/1 | €5,333 | €4,186 | -€1,147 | -21.5% |
| Total equity and liabilities | 10/49 | €2,717,658 | €3,610,496 | +€892,838 | +32.9% |
| Equity | 10/15 | €1,874,418 | €1,216,697 | -€657,721 | -35.1% |
| Contributions | 10/11 | €155,000 | €155,000 | = | 0.0% |
| Contributions outside capital | 11 | €155,000 | €155,000 | = | 0.0% |
| Other | 1109/19 | €155,000 | €155,000 | = | 0.0% |
| Reserves | 13 | €1,127,301 | €1,061,696 | -€65,605 | -5.8% |
| Non-distributable reserves | 130/1 | €5,500 | - | -€5,500 | |
| Reserves not available under the articles | 1311 | €5,500 | - | -€5,500 | |
| Tax-exempt reserves | 132 | €273,650 | €273,650 | = | 0.0% |
| Distributable reserves | 133 | €848,151 | €788,046 | -€60,105 | -7.1% |
| Profit (loss) carried forward | 14 | €592,117 | €1 | -€592,116 | -100.0% |
| Amounts payable | 17/49 | €843,240 | €2,393,799 | +€1.6m | +184% |
| Amounts payable within one year | 42/48 | €824,560 | €2,389,898 | +€1.6m | +190% |
| Trade debts | 44 | €770,767 | €1,392,846 | +€622,079 | +80.7% |
| Suppliers | 440/4 | €770,767 | €1,392,846 | +€622,079 | +80.7% |
| Taxes, remuneration and social security | 45 | €41,491 | €35,200 | -€6,291 | -15.2% |
| Taxes | 450/3 | €41,491 | €35,200 | -€6,291 | -15.2% |
| Other amounts payable | 47/48 | €12,302 | €961,852 | +€949,550 | +7,719% |
| Accrued charges and deferred income | 492/3 | €18,680 | €3,901 | -€14,779 | -79.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,547 | €17,765 | -€782 | -4.2% |
| Other operating charges | 640/8 | €2,368 | €2,113 | -€255 | -10.8% |
| Gross operating margin | 9900 | €295,341 | €330,390 | +€35,050 | +11.9% |
| Operating profit (loss) | 9901 | €274,425 | €310,512 | +€36,087 | +13.2% |
| Financial income | 75/76B | €237,081 | €281,476 | +€44,395 | +18.7% |
| Recurring financial income | 75 | €237,081 | €281,476 | +€44,395 | +18.7% |
| Financial charges | 65/66B | €5,352 | €7,139 | +€1,787 | +33.4% |
| Recurring financial charges | 65 | €5,352 | €7,139 | +€1,787 | +33.4% |
| Profit (loss) for the period before taxes | 9903 | €506,154 | €584,850 | +€78,696 | +15.5% |
| Income taxes | 67/77 | €73,032 | €101,088 | +€28,056 | +38.4% |
| Profit (loss) for the period | 9904 | €433,122 | €483,761 | +€50,640 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €433,122 | €483,761 | +€50,640 | +11.7% |
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 27 October 2026 via checked.be.