ADAVALUE (0809.818.455): financials and annual accounts

ADAVALUE

Awans ·KBO/BCE: BE 0809.818.455

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Balance sheet: assets
Total assets`20/58`	627	75,003	22,803	43,179	405,823	331,482	298,451	208,717	164,347	92,783	88,992	48,888	82,484	133,878	196,752	157,024	116,530
Formation expenses`20`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	450
Fixed assets`21/28`	500	500	5,850	11,674	20,498	33,553	36,193	47,720	59,834	22,583	23,000	30,500	38,888	48,329	57,771	63,162	67,950
Intangible fixed assets`21`	-	-	5,350	11,174	19,998	28,822	26,088	32,241	38,982	22,083	22,500	30,000	37,500	45,000	52,500	60,000	67,500
Tangible fixed assets`22/27`	-	-	-	-	-	4,231	9,605	14,979	20,353	-	-	-	888	2,829	4,771	3,162	-
Plant, machinery and equipment`23`	-	-	-	-	-	-	-	-	-	-	-	-	888	1,775	2,663	-	-
Furniture and vehicles`24`	-	-	-	-	-	1,129	2,656	4,182	5,709	-	-	-	-	1,054	2,108	3,162	-
Financial fixed assets`28`	500	500	500	500	500	500	500	500	500	500	500	500	500	500	500	-	-
Current assets`29/58`	127	74,503	16,953	31,504	385,325	297,929	262,258	160,998	104,513	70,199	65,992	18,388	43,597	85,548	138,982	93,861	48,580
Stocks and contracts in progress`3`	-	1,980	1,962	1,986	2,801	3,801	11,795	14,252	12,939	19,709	8,818	10,216	16,566	15,500	18,000	28,500	10,338
Stocks`30/36`	-	1,980	1,962	1,986	2,801	3,801	11,795	14,252	12,939	19,709	8,818	10,216	16,566	15,500	18,000	28,500	10,338
Amounts receivable within one year`40/41`	122	72,523	14,288	29,514	382,271	293,514	249,111	144,344	90,297	50,491	57,174	3,779	26,369	61,314	97,267	43,797	31,988
Trade receivables`40`	-	72,523	14,288	29,514	382,271	291,762	249,111	144,344	90,297	50,491	56,240	2,517	26,060	61,236	96,654	41,751	26,706
Other amounts receivable`41`	122	-	-	-	-	1,752	-	-	-	-	934	1,262	309	78	612	2,047	5,282
Cash at bank and in hand`54/58`	5	-	703	-	-	-	-	-	-	-	-	4,264	-	7,153	20,772	17,049	6,250
Deferred charges and accrued income`490/1`	-	-	-	5	252	615	1,352	2,402	1,277	-	-	129	662	1,581	2,943	4,515	4
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	627	75,003	22,803	43,179	405,823	331,482	298,451	208,717	164,347	92,783	88,992	48,888	82,484	133,878	196,752	157,024	116,530
Equity`10/15`	-243,165	-239,120	-254,719	-241,904	-168,636	-122,045	-85,724	-58,066	-4,872	-21,332	-21,816	-25,678	-14,468	-12,133	5,880	6,673	6,315
Contributions`10/11`	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	6,200	6,200	6,200	6,200	6,200	6,200	6,200
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Uncalled capital`101`	-	-	-	-	-	-	-	-	-	-	12,400	12,400	12,400	12,400	12,400	12,400	12,400
Reserves`13`	58	58	58	58	58	58	58	58	58	58	58	58	58	58	58	58	15
Non-distributable reserves`130/1`	58	58	58	58	58	58	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	58	58	58	58	58	58	58	58	58	58	15
Reserves not available under the articles`1311`	58	58	58	58	58	58	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-261,823	-257,778	-273,377	-260,562	-187,294	-140,703	-104,382	-76,724	-23,530	-39,991	-28,074	-31,936	-20,727	-18,391	-378	415	100
Amounts payable`17/49`	243,792	314,123	277,522	285,082	574,459	453,527	384,175	266,783	169,219	114,115	110,808	74,566	96,953	146,010	190,873	150,350	110,215
Amounts payable after more than one year`17`	-	-	-	-	920	6,443	12,637	22,118	9,202	-	-	-	4,306	10,298	16,291	22,283	-
Financial debts`170/4`	-	-	-	-	920	6,443	12,637	22,118	9,202	-	-	-	4,306	10,298	16,291	22,283	-
Amounts payable within one year`42/48`	243,792	314,123	277,522	285,082	573,538	447,085	371,537	244,203	160,017	114,115	108,670	74,566	92,647	135,712	174,582	128,067	110,215
Current portion of amounts payable after more than one year`42`	-	-	-	920	5,522	6,195	9,481	10,093	4,780	-	-	4,805	5,993	6,398	6,398	5,993	-
Financial debts`43`	14,951	13,825	14,757	14,776	14,913	13,007	14,711	15,272	10,060	3,043	6,422	-	1,076	-	-	-	-
Credit institutions`430/8`	14,951	-	14,757	14,776	14,913	13,007	-	15,272	10,060	3,043	6,422	-	1,076	-	-	-	-
Other loans`439`	-	13,825	-	-	-	-	14,711	-	-	-	-	-	-	-	-	-	-
Trade debts`44`	9,776	18,027	25,097	45,530	92,105	66,434	79,991	52,646	8,278	12,481	2,963	68,860	80,238	125,029	128,462	114,827	102,489
Suppliers`440/4`	9,776	18,027	25,097	45,530	92,105	66,434	79,991	52,646	8,278	12,481	2,963	68,860	80,238	125,029	128,462	114,827	102,489
Advances received on contracts in progress`46`	-	58,829	2,576	-	272,856	216,594	149,269	48,941	25,063	33,468	41,374	-	1,072	-	38,848	7,171	7,725
Taxes, remuneration and social security`45`	96	6,110	5,820	10,427	28,184	15,335	17,015	8,168	15,045	2,478	985	-	-	17	95	76	-
Taxes`450/3`	96	6,110	5,820	10,427	22,556	9,866	12,127	3,401	10,635	956	985	-	-	17	95	76	-
Remuneration and social security`454/9`	-	-	-	-	5,628	5,469	4,888	4,767	4,410	1,523	-	-	-	-	-	-	-
Other amounts payable`47/48`	218,968	217,332	229,273	213,428	159,958	129,518	101,071	109,083	96,791	62,645	56,926	902	4,268	4,268	780	-	-
Accrued charges and deferred income`492/3`	-	-	-	-	-	-	-	462	-	-	2,138	-	-	-	-	-	-
Income statement
Gross operating margin`9900`	-1,692	22,710	-2,024	-14,981	21,122	26,841	35,001	23,935	58,197	14,746	15,684	-420	9,351	-6,862	11,028	10,483	8,510
Remuneration, social security and pensions`62`	-	-	-6	39,858	47,293	44,102	38,624	45,712	32,467	9,918	-	-	-	-	-	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	-	3,424	5,824	8,824	13,893	12,272	19,015	24,115	21,115	11,042	7,500	8,388	9,442	9,442	9,442	9,004	7,950
Other operating charges`640/8`	677	742	918	4,454	2,902	2,950	1,446	709	946	348	348	348	348	348	348	348	348
Operating profit (loss)`9901`	-2,369	18,545	-8,761	-68,117	-42,965	-32,482	-24,084	-46,601	3,669	-6,562	7,836	-9,155	-438	-16,651	1,239	1,132	213
Financial income`75/76B`	813	0	3	-	-	617	111	45	-	0	16	3	24	372	136	928	79
Recurring financial income`75`	813	0	3	-	-	617	111	45	-	0	16	3	24	372	136	928	79
Financial charges`65/66B`	2,489	2,946	3,894	5,002	3,563	4,394	3,613	6,568	2,467	5,355	3,991	2,056	1,921	1,734	2,065	1,617	177
Recurring financial charges`65`	2,489	2,946	3,894	5,002	3,563	4,394	3,613	6,568	2,467	5,355	3,991	2,056	1,921	1,734	2,065	1,617	177
Profit (loss) for the period before taxes`9903`	-4,045	15,599	-12,651	-73,119	-46,528	-36,259	-27,586	-53,124	1,202	-11,916	3,862	-11,209	-2,336	-18,012	-691	442	115
Income taxes`67/77`	-	-	164	149	62	62	72	70	74	-	-	1	-	-	103	84	-
Profit (loss) for the period`9904`	-4,045	15,599	-12,815	-73,268	-46,591	-36,321	-27,658	-53,194	1,128	-11,916	3,862	-11,210	-2,336	-18,012	-794	359	115
Profit (loss) for the period to be appropriated`9905`	-4,045	15,599	-12,815	-73,268	-46,591	-36,321	-27,658	-53,194	1,128	-11,916	3,862	-11,210	-2,336	-18,012	-794	359	115
Appropriation of the result
Profit (loss) to be appropriated`9906`	-261,823	-257,778	-273,377	-260,562	-187,294	-140,703	-104,382	-76,724	-23,530	-39,991	-28,074	-31,936	-20,727	-18,391	-378	459	115
Profit (loss) brought forward from the previous period`14P`	-257,778	-273,377	-260,562	-187,294	-140,703	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	43	15
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	43	15
Social balance sheet
Average staff (FTE)`9087`	-	-	-	0.8	1	1	1	1	1	0.3	-	-	-	-	-	-	-
Hours worked`1013`	-	-	-	996	1,770	1,733	1,756	1,733	1,680	592	-	-	-	-	-	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	27-08-2026	2026-00436206	PDF
31-12-2024	micro format	28-08-2025	2025-00417228	PDF
31-12-2023	micro format	23-09-2024	2024-00467805	PDF
31-12-2022	micro format	25-09-2023	2023-00452563	PDF
31-12-2021	micro format	30-08-2022	2022-20387489	PDF
31-12-2020	micro format	30-09-2021	2021-71100295	PDF
31-12-2019	micro format	04-11-2020	2020-68800432	PDF
31-12-2018	micro format	29-08-2019	2019-56100447	PDF
31-12-2017	micro format	29-08-2018	2018-57900567	PDF
31-12-2016	micro format	12-09-2017	2017-60600504	PDF
31-12-2015	full format	23-08-2016	2016-46300540	PDF
31-12-2014	full format	31-08-2015	2015-55300217	PDF
31-12-2013	full format	27-08-2014	2014-52700157	PDF
31-12-2012	full format	29-08-2013	2013-51700087	PDF
31-12-2011	full format	29-08-2012	2012-51900103	PDF
31-12-2010	full format	26-09-2011	2011-55400253	PDF
31-12-2009	full format	31-08-2010	2010-53600345	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
EBITDA	-	21,969	-2,937	-59,293	-29,073	-20,211	-5,069	-22,486	24,784	4,480	15,336	-768	9,003	-7,209	10,680	10,136	8,163
Cash flow	-	19,023	-6,991	-64,444	-32,698	-24,049	-8,643	-29,079	22,243	-875	11,362	-2,822	7,106	-8,571	8,648	9,363	8,065
Investment in fixed assets (approximation)	-	-1,926	0	0	838	9,632	7,488	12,000	22,235	10,625	0	0	0	0	4,050	4,217	75,000
Change in cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-13,619	3,723	10,800	-
Working capital	-243,665	-239,620	-260,569	-253,578	-188,214	-149,155	-109,279	-83,205	-55,504	-43,916	-42,679	-56,178	-49,050	-50,163	-35,600	-34,206	-61,635
Solvency	-	-318.8%	-	-560.2%	-41.6%	-36.8%	-28.7%	-27.8%	-3.0%	-23.0%	-24.5%	-52.5%	-17.5%	-9.1%	3.0%	4.2%	5.4%
Current ratio	-	0.24	0.06	0.11	0.67	0.67	0.71	0.66	0.65	0.62	0.61	0.25	0.47	0.63	0.80	0.73	0.44
Quick ratio	-	0.23	0.05	0.10	0.67	0.66	0.67	0.60	0.57	0.44	0.53	0.11	0.29	0.52	0.69	0.51	0.35
Debt to equity	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32.46	22.53	17.45
ROE	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13.5%	5.4%	1.8%
ROA	-	20.8%	-56.2%	-169.7%	-11.5%	-11.0%	-9.3%	-25.5%	0.7%	-12.8%	4.3%	-22.9%	-2.8%	-13.5%	-0.4%	0.2%	0.1%
Interest coverage	-	7.46	-0.75	-11.85	-8.16	-	-	-	-	-	-	-	-	-	-	-	-

Item	31-12-2022	31-12-2021
Employees at the balance-sheet date	-	1
full-time	-	1
in full-time equivalents	-	1
Average over the year, in full-time equivalents	0.8	1
On a permanent contract	-	1
Joined	0	-
Left	1	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	-	-	-	€838
Depreciation and write-downs of the year	-	€3,424	€5,824	€8,824	€13,893

ADAVALUE

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cash

Position in the sector

Solvency-

Current ratio-

Return on assets-

Staff

Staff cost per FTE

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Investments

Insights on ADAVALUE

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