POWERGRID: 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.
POWERGRID
Largest movements
- Stocks and contracts -€313,211
down €313,211 (-18.7%), from €1.7m to €1.4m
- Cash +€31,852
up €31,852 (+68.3%), from €46,652 to €78,505
mainly Stocks and contracts (+€313,211) and Net result for the year (+€65,921)
- Trade debts -€163,378
down €163,378 (-31.6%), from €517,178 to €353,799
- Tax, wage and social debts -€97,069
down €97,069 (-60.4%), from €160,651 to €63,583
of which Taxes: -€76,060
- Profit (loss) carried forward +€43,340
up €43,340, from -€43,340 to €0
- Current portion of long-term debt -€30,216
down €30,216 (-54.2%), from €55,731 to €25,516
- Debts after one year -€25,516
down €25,516 (-30.1%), from €84,789 to €59,273
- Gross operating margin +€147,783
up €147,783 (+32.8%), from €450,449 to €598,232
- Taxes +€13,918
up €13,918 (+4,399%), from €316 to €14,234
- Financial income -€12,815
down €12,815 (-57.7%), from €22,218 to €9,403
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 | €1,996,111 | €1,734,961 | -€261,150 | -13.1% |
| Fixed assets | 21/28 | €112,183 | €112,675 | +€492 | +0.4% |
| Tangible fixed assets | 22/27 | €97,670 | €98,162 | +€492 | +0.5% |
| Land and buildings | 22 | €80,576 | €81,428 | +€852 | +1.1% |
| Plant, machinery and equipment | 23 | €9,093 | €5,203 | -€3,891 | -42.8% |
| Furniture and vehicles | 24 | €7,432 | €11,431 | +€3,998 | +53.8% |
| Other tangible fixed assets | 26 | €568 | €100 | -€467 | -82.3% |
| Financial fixed assets | 28 | €14,513 | €14,513 | = | 0.0% |
| Current assets | 29/58 | €1,883,928 | €1,622,286 | -€261,642 | -13.9% |
| Stocks and contracts in progress | 3 | €1,677,081 | €1,363,870 | -€313,211 | -18.7% |
| Stocks | 30/36 | €1,677,081 | €1,363,870 | -€313,211 | -18.7% |
| Amounts receivable within one year | 40/41 | €154,243 | €172,621 | +€18,378 | +11.9% |
| Trade receivables | 40 | €68,905 | €133,852 | +€64,948 | +94.3% |
| Other amounts receivable | 41 | €85,338 | €38,769 | -€46,569 | -54.6% |
| Cash at bank and in hand | 54/58 | €46,652 | €78,505 | +€31,852 | +68.3% |
| Deferred charges and accrued income | 490/1 | €5,952 | €7,290 | +€1,339 | +22.5% |
| Total equity and liabilities | 10/49 | €1,996,111 | €1,734,961 | -€261,150 | -13.1% |
| Equity | 10/15 | €541,175 | €607,096 | +€65,921 | +12.2% |
| Contributions | 10/11 | €11,550 | €11,550 | = | 0.0% |
| Reserves | 13 | €572,965 | €595,546 | +€22,581 | +3.9% |
| Distributable reserves | 133 | €572,965 | €595,546 | +€22,581 | +3.9% |
| Profit (loss) carried forward | 14 | -€43,340 | €0 | +€43,340 | |
| Amounts payable | 17/49 | €1,454,936 | €1,127,866 | -€327,070 | -22.5% |
| Amounts payable after more than one year | 17 | €84,789 | €59,273 | -€25,516 | -30.1% |
| Financial debts | 170/4 | €84,789 | €59,273 | -€25,516 | -30.1% |
| Amounts payable within one year | 42/48 | €1,370,147 | €1,068,593 | -€301,555 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €55,731 | €25,516 | -€30,216 | -54.2% |
| Financial debts | 43 | €582,522 | €575,000 | -€7,522 | -1.3% |
| Credit institutions | 430/8 | €582,522 | €575,000 | -€7,522 | -1.3% |
| Trade debts | 44 | €517,178 | €353,799 | -€163,378 | -31.6% |
| Suppliers | 440/4 | €517,178 | €353,799 | -€163,378 | -31.6% |
| Taxes, remuneration and social security | 45 | €160,651 | €63,583 | -€97,069 | -60.4% |
| Taxes | 450/3 | €107,976 | €31,916 | -€76,060 | -70.4% |
| Remuneration and social security | 454/9 | €52,675 | €31,667 | -€21,009 | -39.9% |
| Other amounts payable | 47/48 | €54,065 | €50,695 | -€3,370 | -6.2% |
| Remuneration, social security and pensions | 62 | €449,001 | €453,909 | +€4,908 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,881 | €18,385 | +€2,504 | +15.8% |
| Other operating charges | 640/8 | €12,124 | €10,291 | -€1,833 | -15.1% |
| Gross operating margin | 9900 | €450,449 | €598,232 | +€147,783 | +32.8% |
| Operating profit (loss) | 9901 | -€26,557 | €115,646 | +€142,204 | |
| Financial income | 75/76B | €22,218 | €9,403 | -€12,815 | -57.7% |
| Recurring financial income | 75 | €22,218 | €9,403 | -€12,815 | -57.7% |
| Financial charges | 65/66B | €42,788 | €44,894 | +€2,106 | +4.9% |
| Recurring financial charges | 65 | €42,788 | €44,894 | +€2,106 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | -€47,128 | €80,155 | +€127,282 | |
| Income taxes | 67/77 | €316 | €14,234 | +€13,918 | +4,399% |
| Profit (loss) for the period | 9904 | -€47,444 | €65,921 | +€113,365 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,444 | €65,921 | +€113,365 |
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 24 October 2026 via checked.be.