OBEL 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.
OBEL ENERGY
Largest movements
- Receivables within one year +€42,150
up €42,150 (+37.6%), from €112,034 to €154,184
of which Other amounts receivable: +€28,550
- Tangible fixed assets -€18,179
down €18,179 (-24.1%), from €75,566 to €57,388
- Cash -€11,838
down €11,838 (-48.7%), from €24,321 to €12,484
mainly Contributions, distributions and other (-€44,000) and Receivables within one year (-€42,150)
- Reserves +€20,000
up €20,000 (+13.3%), from €150,859 to €170,859
of which Distributable reserves: +€20,000
- Current portion of long-term debt -€13,816
no longer reported in 2025 (was €13,816)
- Trade debts +€7,015
up €7,015 (+411%), from €1,706 to €8,720
- Gross operating margin +€25,161
up €25,161 (+29.0%), from €86,718 to €111,878
- Depreciation +€8,885
up €8,885 (+95.4%), from €9,311 to €18,197
- Taxes +€8,647
up €8,647 (+37.8%), from €22,862 to €31,509
- Financial income +€6,715
new in 2025: €6,715
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 | €214,132 | €227,857 | +€13,725 | +6.4% |
| Fixed assets | 21/28 | €75,566 | €57,388 | -€18,179 | -24.1% |
| Tangible fixed assets | 22/27 | €75,566 | €57,388 | -€18,179 | -24.1% |
| Furniture and vehicles | 24 | €75,566 | €57,388 | -€18,179 | -24.1% |
| Current assets | 29/58 | €138,565 | €170,469 | +€31,904 | +23.0% |
| Amounts receivable within one year | 40/41 | €112,034 | €154,184 | +€42,150 | +37.6% |
| Trade receivables | 40 | €4,000 | €17,600 | +€13,600 | +340% |
| Other amounts receivable | 41 | €108,034 | €136,584 | +€28,550 | +26.4% |
| Cash at bank and in hand | 54/58 | €24,321 | €12,484 | -€11,838 | -48.7% |
| Deferred charges and accrued income | 490/1 | €2,210 | €3,801 | +€1,591 | +72.0% |
| Total equity and liabilities | 10/49 | €214,132 | €227,857 | +€13,725 | +6.4% |
| Equity | 10/15 | €163,323 | €184,335 | +€21,012 | +12.9% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €150,859 | €170,859 | +€20,000 | +13.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €149,000 | €169,000 | +€20,000 | +13.4% |
| Profit (loss) carried forward | 14 | €5,027 | €6,039 | +€1,012 | +20.1% |
| Amounts payable | 17/49 | €50,809 | €43,522 | -€7,287 | -14.3% |
| Amounts payable within one year | 42/48 | €50,809 | €43,522 | -€7,287 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €13,816 | - | -€13,816 | |
| Trade debts | 44 | €1,706 | €8,720 | +€7,015 | +411% |
| Suppliers | 440/4 | €1,706 | €8,720 | +€7,015 | +411% |
| Taxes, remuneration and social security | 45 | €35,287 | €34,802 | -€485 | -1.4% |
| Taxes | 450/3 | €35,287 | €34,802 | -€485 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,311 | €18,197 | +€8,885 | +95.4% |
| Other operating charges | 640/8 | €2,963 | €3,209 | +€246 | +8.3% |
| Gross operating margin | 9900 | €86,718 | €111,878 | +€25,161 | +29.0% |
| Operating profit (loss) | 9901 | €74,443 | €90,473 | +€16,030 | +21.5% |
| Financial income | 75/76B | - | €6,715 | +€6,715 | |
| Recurring financial income | 75 | - | €6,715 | +€6,715 | |
| Financial charges | 65/66B | €255 | €667 | +€412 | +161% |
| Recurring financial charges | 65 | €255 | €667 | +€412 | +161% |
| Profit (loss) for the period before taxes | 9903 | €74,188 | €96,521 | +€22,333 | +30.1% |
| Income taxes | 67/77 | €22,862 | €31,509 | +€8,647 | +37.8% |
| Profit (loss) for the period | 9904 | €51,326 | €65,012 | +€13,686 | +26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,326 | €65,012 | +€13,686 | +26.7% |
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 29 October 2026 via checked.be.