FOR 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.
FOR ENERGY
Largest movements
- Stocks and contracts +€50,194
up €50,194 (+46.3%), from €108,397 to €158,591
- Cash -€37,041
down €37,041 (-44.0%), from €84,165 to €47,124
mainly Stocks and contracts (-€50,194) and Tax, wage and social debts (-€34,547)
- Receivables within one year +€18,448
up €18,448 (+14.2%), from €130,310 to €148,758
of which Other amounts receivable: +€28,123
- Tangible fixed assets -€13,807
down €13,807 (-22.8%), from €60,626 to €46,819
of which Leasing and similar rights: -€11,714
- Profit (loss) carried forward +€66,707
up €66,707 (+35.0%), from €190,707 to €257,415
- Tax, wage and social debts -€34,547
down €34,547 (-39.6%), from €87,193 to €52,647
of which Taxes: -€32,721
- Debts after one year -€9,605
down €9,605 (-27.5%), from €34,934 to €25,329
- Purchases and services +€36,546
up €36,546 (+6.6%), from €551,752 to €588,298
- Turnover +€27,554
up €27,554 (+4.1%), from €666,742 to €694,295
- Gross operating margin -€8,992
down €8,992 (-7.8%), from €114,989 to €105,997
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 | €383,637 | €402,611 | +€18,974 | +4.9% |
| Fixed assets | 21/28 | €60,626 | €46,819 | -€13,807 | -22.8% |
| Tangible fixed assets | 22/27 | €60,626 | €46,819 | -€13,807 | -22.8% |
| Plant, machinery and equipment | 23 | €10,134 | €8,133 | -€2,001 | -19.7% |
| Furniture and vehicles | 24 | €435 | €343 | -€92 | -21.2% |
| Leasing and similar rights | 25 | €50,057 | €38,343 | -€11,714 | -23.4% |
| Current assets | 29/58 | €323,012 | €355,792 | +€32,781 | +10.1% |
| Stocks and contracts in progress | 3 | €108,397 | €158,591 | +€50,194 | +46.3% |
| Stocks | 30/36 | €108,397 | €158,591 | +€50,194 | +46.3% |
| Amounts receivable within one year | 40/41 | €130,310 | €148,758 | +€18,448 | +14.2% |
| Trade receivables | 40 | €57,219 | €47,544 | -€9,675 | -16.9% |
| Other amounts receivable | 41 | €73,091 | €101,214 | +€28,123 | +38.5% |
| Cash at bank and in hand | 54/58 | €84,165 | €47,124 | -€37,041 | -44.0% |
| Deferred charges and accrued income | 490/1 | €139 | €1,319 | +€1,181 | +851.6% |
| Total equity and liabilities | 10/49 | €383,637 | €402,611 | +€18,974 | +4.9% |
| Equity | 10/15 | €230,707 | €297,415 | +€66,707 | +28.9% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €190,707 | €257,415 | +€66,707 | +35.0% |
| Amounts payable | 17/49 | €152,930 | €105,197 | -€47,733 | -31.2% |
| Amounts payable after more than one year | 17 | €34,934 | €25,329 | -€9,605 | -27.5% |
| Financial debts | 170/4 | €34,934 | €25,329 | -€9,605 | -27.5% |
| Amounts payable within one year | 42/48 | €117,996 | €79,868 | -€38,128 | -32.3% |
| Current portion of amounts payable after more than one year | 42 | €16,704 | €15,872 | -€832 | -5.0% |
| Financial debts | 43 | - | €59 | +€59 | |
| Credit institutions | 430/8 | - | €59 | +€59 | |
| Trade debts | 44 | €13,594 | €11,290 | -€2,304 | -17.0% |
| Suppliers | 440/4 | €13,594 | €11,290 | -€2,304 | -17.0% |
| Taxes, remuneration and social security | 45 | €87,193 | €52,647 | -€34,547 | -39.6% |
| Taxes | 450/3 | €85,368 | €52,647 | -€32,721 | -38.3% |
| Remuneration and social security | 454/9 | €1,826 | - | -€1,826 | |
| Other amounts payable | 47/48 | €505 | - | -€505 | |
| Turnover | 70 | €666,742 | €694,295 | +€27,554 | +4.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €551,752 | €588,298 | +€36,546 | +6.6% |
| Remuneration, social security and pensions | 62 | €463 | €660 | +€197 | +42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,040 | €14,411 | +€3,370 | +30.5% |
| Other operating charges | 640/8 | €536 | €754 | +€218 | +40.7% |
| Gross operating margin | 9900 | €114,989 | €105,997 | -€8,992 | -7.8% |
| Operating profit (loss) | 9901 | €102,950 | €90,172 | -€12,778 | -12.4% |
| Financial income | 75/76B | €230 | €0 | -€230 | -100.0% |
| Recurring financial income | 75 | €230 | €0 | -€230 | -100.0% |
| Financial charges | 65/66B | €2,104 | €2,013 | -€91 | -4.3% |
| Recurring financial charges | 65 | €2,104 | €2,013 | -€91 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €101,075 | €88,159 | -€12,916 | -12.8% |
| Income taxes | 67/77 | €25,148 | €21,452 | -€3,696 | -14.7% |
| Profit (loss) for the period | 9904 | €75,928 | €66,707 | -€9,221 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €75,928 | €66,707 | -€9,221 | -12.1% |
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.