During the building design phase, a lot of attention is paid to the thermal properties of the external envelopes. New regulations are introduced to improve energy efficiency of a building and impose a reduction of the overall heat transfer coefficient; meanwhile, this efficiency is more influenced by the efficiency of the heating system and the type of fuels used. This article presents a complex analysis including the impact of: heat transfer coefficient of the envelope, efficiency of building service systems, the type of energy source, and the fuel. The analysis was based on the results of simulation tests obtained for an exemplary multi-family residential building located in Poland that is not equipped with a cooling system. The conducted calculations gave quantitative evaluation of the influence of particular parameters on building energy performance and showed that the decrease of heat transfer coefficient of building boundaries, in accordance to the Polish regulation for 2017 and 2021, gave only 11% of reduction on usable energy demand index. On the other hand, it was found that modification of the heating system and heat source can significantly influence the values of the final and primary energy consumption at the level of 70%. The application of heat pumps has a greater influence on the final and primary energy consumption for heating indices than other parameters, such as the building’s envelopes.