The article reconstructs and critically discusses the energetic metaphysics of Dimitar Vatsov, which may be regarded as an important event in the philosophical life in Bulgaria. The article consists of two parts. The first part situates Vatsov's project in the context of the contemporary development of metaphysics and presents the evolution and logic of its realization, emphasizing the central ideas of actuality, energy, and codification. The second part presents a series of critical observations on the realization of the project, related (...) to conceptual ambiguities and problematic theoretical moves. It is argued that the modal aspects of energetic metaphysics need conceptual clarification and theoretical justification. The article also aims to provoke a broader discussion on the state and future of metaphysical research in Bulgarian philosophy. (shrink)