Adea
Dissolution or liquidationFinancials · financial year 2025, micro format
Turnover
€66,463
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
€139,985▲ 141%
2024 · €58,183
Working capital
€742,385▼ 29.8%
2024 · €1.1m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen two years in a row; 2025 is 47% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.03m
2025
Net result€0.1m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€0.8m
2025
Equity€0.6m
2025
Debt€0.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.7m
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.07m
Operating result€0.1m-€0.007m▼ 94.1%€0.02m▲ 149%€0.09m▲ 472%€0.01m▼ 86.2%€0.09m▲ 557%€0.06m▼ 26.1%€0.03m▼ 47.4%
Net result€0.06m--€0.01m-€0.002m▲ 83.2%€0.06m€0.003m▼ 95.3%€0.06m▲ 25×€0.06m▼ 9.5%€0.1m▲ 141%
Equity€1.1m-€1.1m▼ 0.9%€1.1m▼ 0.2%€1.2m▲ 5.0%€1.2m▲ 0.2%€1.1m▼ 9.0%€0.8m▼ 23.1%€0.6m▼ 21.9%
Total assets€2.5m-€2.4m▼ 2.5%€2.3m▼ 5.3%€2.3m▼ 2.4%€2.2m▼ 1.4%€1.6m▼ 28.1%€1.1m▼ 33.5%€0.8m▼ 29.2%
Debt€1.4m-€1.3m▼ 3.6%€1.2m▼ 9.5%€1.1m▼ 9.2%€1.1m▼ 3.2%€0.5m▼ 49.2%€0.2m▼ 54.0%€0.1m▼ 53.3%
Working capital€2.4m-€2.4m▼ 0.9%€2.3m▼ 4.8%€2.2m▼ 1.1%€2.2m▼ 0.9%€1.6m▼ 28.4%€1.1m▼ 33.4%€0.7m▼ 29.8%
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €756,096
Equity
€640,541 ▼ 21.9%
Debt
€115,555 ▼ 53.3%
Debt's share of the balance-sheet total falls from 23.2% to 15.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€33,687▼
2024 · €63,602
Cash flow
€140,494▲
2024 · €58,693
Current ratio
55.14
Debt to equity
0.18▼
2024 · 0.30
ROE
21.9%▲
2024 · 7.1%
ROA
18.5%▲
2024 · 5.4%
Interest coverage
23.19▲
2024 · 9.31
Debt ≤ 1 year
€13,711▲
2024 · €9,941
Debt > 1 year
€100,000▼
2024 · €219,964
Income taxes
€51,836▲
2024 · €27,211
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | €66,463 | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €11,500 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | €43,940 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,746 | €21,651 | €21,368 | €17,805 | €7,115 | €510 | €510 | €509 | ▼ 0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€83,372 | -€21,131 | -€64,657 | -€20,267 | -€10,157 | ▲ 49.9% |
| Other operating charges640/8 | - | - | - | €1,972 | €2,072 | €1,265 | €1,308 | - | - |
| Gross operating margin9900 | €122,380 | €57,426 | €102,345 | €30,240 | €1,047 | €22,523 | €44,643 | €23,530 | ▼ 47.3% |
| Operating profit (loss)9901 | €111,777 | €6,579 | €16,405 | €93,836 | €12,991 | €85,404 | €63,092 | €33,178 | ▼ 47.4% |
| Financial income75/76B | - | - | - | €2,832 | €5,709 | €21,308 | €33,423 | €160,095 | ▲ 379% |
| Recurring financial income75 | €391 | €3,579 | €3,656 | €2,832 | €5,709 | €21,308 | €33,423 | €12,240 | ▼ 63.4% |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €147,855 | - |
| Financial charges65/66B | - | - | - | €14,466 | €12,904 | €11,213 | €11,120 | €1,453 | ▼ 86.9% |
| Recurring financial charges65 | €27,108 | €20,662 | €19,271 | €14,466 | €12,904 | €11,213 | €6,829 | €1,453 | ▼ 78.7% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €4,291 | - | - |
| Profit (loss) for the period before taxes9903 | €85,060 | -€10,504 | €790 | €82,201 | €5,796 | €95,499 | €85,395 | €191,820 | ▲ 125% |
| Transfer from deferred taxes780 | - | - | - | €286 | €286 | - | - | - | - |
| Income taxes67/77 | €25,370 | €1,187 | €3,921 | €26,691 | €3,481 | €31,181 | €27,211 | €51,836 | ▲ 90.5% |
| Profit (loss) for the period9904 | €59,669 | -€10,284 | -€1,723 | €55,796 | €2,601 | €64,319 | €58,183 | €139,985 | ▲ 141% |
| Transfer from tax-exempt reserves789 | - | - | - | €7,312 | €1,114 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €57,390 | -€6,992 | €1,570 | €63,108 | €3,715 | €64,319 | €58,183 | €139,985 | ▲ 141% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.5m | €2.4m | €2.3m | €2.3m | €2.2m | €1.6m | €1.1m | €0.8m | ▼ 29.2% |
| Fixed assets21/28 | €0.09m | €0.05m | €0.02m | €0.007m | - | €0.001m | €0.001m | - | - |
| Tangible fixed assets22/27 | €0.09m | €0.05m | €0.02m | €0.007m | - | €0.001m | €0.001m | - | - |
| Furniture and vehicles24 | - | - | - | €0.007m | - | €0.001m | €0.001m | - | - |
| Financial fixed assets28 | €89 | €89 | - | - | - | - | - | - | - |
| Current assets29/58 | €2.4m | €2.4m | €2.3m | €2.3m | €2.2m | €1.6m | €1.1m | €0.8m | ▼ 29.2% |
| Amounts receivable after more than one year29 | - | - | - | €0.2m | €0.2m | €0.1m | €0.07m | €0.003m | ▼ 95.8% |
| Trade receivables290 | - | - | - | €0.2m | €0.2m | €0.1m | €0.07m | €0.003m | ▼ 95.8% |
| Amounts receivable within one year40/41 | €0.9m | €0.7m | €0.6m | €0.4m | €0.2m | €0.2m | €0.2m | €0.04m | ▼ 79.5% |
| Trade receivables40 | - | - | - | €0.4m | €0.2m | €0.2m | €0.2m | €0.04m | ▼ 79.5% |
| Other amounts receivable41 | - | - | - | - | €0.003m | €0.003m | €156 | - | - |
| Current investments50/53 | - | €0.2m | €0.4m | €0.7m | €0.5m | €1.3m | €0.8m | €0.7m | ▼ 15.6% |
| Cash at bank and in hand54/58 | €0.8m | €0.8m | €0.9m | €0.9m | €1.3m | €0.01m | €0.02m | €0.04m | ▲ 86.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €75 | ▼ 87.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.5m | €2.4m | €2.3m | €2.3m | €2.2m | €1.6m | €1.1m | €0.8m | ▼ 29.2% |
| Equity10/15 | €1.1m | €1.1m | €1.1m | €1.2m | €1.2m | €1.1m | €0.8m | €0.6m | ▼ 21.9% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.7m | €0.5m | €0.3m | ▼ 38.2% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Tax-exempt reserves132 | - | - | - | €0.001m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.8m | €0.8m | €0.7m | €0.4m | €0.3m | ▼ 40.3% |
| Profit (loss) carried forward14 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 0.1% |
| Provisions and deferred taxes16 | €0.003m | €0.002m | €0.001m | €286 | - | - | - | - | - |
| Deferred taxes168 | - | - | - | €286 | - | - | - | - | - |
| Amounts payable17/49 | €1.4m | €1.3m | €1.2m | €1.1m | €1.1m | €0.5m | €0.2m | €0.1m | ▼ 53.3% |
| Amounts payable after more than one year17 | €1.4m | €1.3m | €1.2m | €1.1m | €1.0m | €0.5m | €0.2m | €0.1m | ▼ 54.5% |
| Financial debts170/4 | - | - | - | €0.5m | €0.6m | - | - | - | - |
| Other amounts payable178/9 | - | - | - | €0.5m | €0.5m | €0.5m | €0.2m | €0.1m | ▼ 54.5% |
| Amounts payable within one year42/48 | €0.02m | €0.02m | €0.03m | €0.02m | €0.01m | €0.02m | €0.01m | €0.01m | ▲ 37.9% |
| Trade debts44 | €0.01m | €0.01m | €0.008m | €0.003m | €0.002m | €0.005m | €0.001m | - | - |
| Suppliers440/4 | - | - | - | €0.003m | €0.002m | €0.005m | €0.001m | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.006m | €149 | €0.001m | €185 | €0.007m | ▲ 39× |
| Taxes450/3 | - | - | - | €0.006m | €149 | €0.001m | €185 | €0.007m | ▲ 39× |
| Other amounts payable47/48 | - | - | - | €0.008m | €0.009m | €0.009m | €0.009m | €0.007m | ▼ 24.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.007m | - | €0.03m | €0.02m | €0.002m | ▼ 89.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.06m | -€0.01m | -€0.002m | €0.06m | €0.003m | €0.06m | €0.06m | €0.1m | ▲ 141% |
| + Depreciation and write-downs630 | €0.03m | €0.02m | €0.02m | €0.02m | €0.007m | €0.001m | €0.001m | €0.001m | ▼ 0.2% |
| Operating cash flow (approximation) | €0.09m | €0.01m | €0.02m | €0.07m | €0.01m | €0.06m | €0.06m | €0.1m | ▲ 139% |
| Investment in fixed assets (approximation) | - | €0.02m | €89 | €0 | - | - | €0 | - | - |
| Change in cash | - | €0.03m | €0.1m | €0.05m | €0.4m | -€1.3m | €0.01m | €0.02m | ▲ 62.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 31-05-2026 | 2026-00127889 |
| 31-12-2024 | micro format | 07-08-2025 | 2025-00368482 |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00402387 |
| 31-12-2022 | micro format | 13-04-2023 | 2023-00058267 |
| 31-12-2021 | micro format | 04-08-2022 | 2022-20268831 |
| 31-12-2020 | micro format | 04-08-2021 | 2021-45500436 |
| 31-12-2019 | micro format | 31-08-2020 | 2020-47000471 |
| 31-12-2018 | micro format | 27-06-2019 | 2019-23000307 |
| 31-12-2017 | micro format | 07-08-2018 | 2018-43500558 |
| 31-12-2016 | micro format | 20-06-2017 | 2017-18400358 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.