ADEC: 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.
What changed
ADEC
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€480
2024 · -€3,043+€2,563
Equity
€93,947
2024 · €94,427-€480
Cash
€50,963
2024 · €93,431-€42,468
Balance sheet total
€144,581
2024 · €278,326-€133,745
Largest movements
Assets
- Receivables within one year -€93,131
down €93,131 (-68.4%), from €136,162 to €43,031
of which Trade receivables: -€94,896
- Cash -€42,468
down €42,468 (-45.5%), from €93,431 to €50,963
mainly Trade debts (-€116,556) and Accrued charges and deferred income (-€10,063)
Equity and liabilities
- Trade debts -€116,556
down €116,556 (-85.9%), from €135,631 to €19,074
- Accrued charges and deferred income -€10,063
no longer reported in 2025 (was €10,063)
- Other debts -€7,079
no longer reported in 2025 (was €7,079)
Income statement
- Purchases and services +€120,102
new in 2025: €120,102
- Turnover +€104,622
new in 2025: €104,622
- Gross operating margin +€26,202
up €26,202 (+358.2%), from €7,316 to €33,517
- Taxes +€16,466
up €16,466, from -€3,551 to €12,915
- Other operating charges +€14,656
up €14,656 (+167.1%), from €8,771 to €23,427
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.
Result 2024
-€3,043
Gross operating margin
+€26,202
Depreciation
+€2,134
Other operating charges
-€14,656
Other operating items
-€147
Financial income
+€5,898
Financial charges
-€400
Taxes
-€16,466
Result 2025
-€480
Cash bridge derived
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.
From operations
-€34,171
Investment
-€6,209
Financing
-€2,088
Cash 2024
€93,431
From operations (derived)
-€34,171
Net result for the year
-€480
Depreciation
+€4,982
Receivables within one year
+€93,131
Deferred charges and accrued income
-€626
Trade debts
-€116,556
Tax, wage and social debts
+€2,521
Other debts
-€7,079
Accrued charges and deferred income
-€10,063
Investment (derived)
-€6,209
Investment in fixed assets (net)
-€6,209
Financing
-€2,088
Short-term financial debts
-€2,088
Cash 2025
€50,963
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €278,326 | €144,581 | -€133,745 | -48.1% |
| Fixed assets | 21/28 | €40,271 | €41,498 | +€1,227 | +3.0% |
| Intangible fixed assets | 21 | - | €408 | +€408 | |
| Tangible fixed assets | 22/27 | €40,271 | €41,090 | +€819 | +2.0% |
| Land and buildings | 22 | €25,285 | €25,285 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,508 | €6,038 | +€2,529 | +72.1% |
| Furniture and vehicles | 24 | €11,478 | €9,768 | -€1,710 | -14.9% |
| Current assets | 29/58 | €238,055 | €103,083 | -€134,973 | -56.7% |
| Stocks and contracts in progress | 3 | €7,951 | €7,951 | = | 0.0% |
| Stocks | 30/36 | €7,951 | €7,951 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €136,162 | €43,031 | -€93,131 | -68.4% |
| Trade receivables | 40 | €117,030 | €22,134 | -€94,896 | -81.1% |
| Other amounts receivable | 41 | €19,133 | €20,897 | +€1,765 | +9.2% |
| Cash at bank and in hand | 54/58 | €93,431 | €50,963 | -€42,468 | -45.5% |
| Deferred charges and accrued income | 490/1 | €511 | €1,138 | +€626 | +122.5% |
| Total equity and liabilities | 10/49 | €278,326 | €144,581 | -€133,745 | -48.1% |
| Equity | 10/15 | €94,427 | €93,947 | -€480 | -0.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €39,132 | €39,132 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,276 | €8,276 | = | 0.0% |
| Legal reserve | 130 | €8,276 | €8,276 | = | 0.0% |
| Distributable reserves | 133 | €30,856 | €30,856 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,703 | €36,223 | -€480 | -1.3% |
| Provisions and deferred taxes | 16 | €21,000 | €21,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €21,000 | €21,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €21,000 | €21,000 | = | 0.0% |
| Amounts payable | 17/49 | €162,899 | €29,634 | -€133,265 | -81.8% |
| Amounts payable within one year | 42/48 | €152,837 | €29,634 | -€123,203 | -80.6% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | €2,088 | - | -€2,088 | |
| Credit institutions | 430/8 | €2,088 | - | -€2,088 | |
| Trade debts | 44 | €135,631 | €19,074 | -€116,556 | -85.9% |
| Suppliers | 440/4 | €135,631 | €19,074 | -€116,556 | -85.9% |
| Taxes, remuneration and social security | 45 | €8,039 | €10,560 | +€2,521 | +31.4% |
| Taxes | 450/3 | €8,039 | €10,560 | +€2,521 | +31.4% |
| Other amounts payable | 47/48 | €7,079 | - | -€7,079 | |
| Accrued charges and deferred income | 492/3 | €10,063 | - | -€10,063 | |
| Turnover | 70 | - | €104,622 | +€104,622 | |
| Non-recurring operating income | 76A | - | €10,143 | +€10,143 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €120,102 | +€120,102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,115 | €4,982 | -€2,134 | -30.0% |
| Other operating charges | 640/8 | €8,771 | €23,427 | +€14,656 | +167.1% |
| Non-recurring operating charges | 66A | - | €147 | +€147 | |
| Gross operating margin | 9900 | €7,316 | €33,517 | +€26,202 | +358.2% |
| Operating profit (loss) | 9901 | -€8,571 | €4,961 | +€13,532 | |
| Financial income | 75/76B | €3,435 | €9,333 | +€5,898 | +171.7% |
| Recurring financial income | 75 | €1,964 | €9,333 | +€7,369 | +375.1% |
| Non-recurring financial income | 76B | €1,471 | - | -€1,471 | |
| Financial charges | 65/66B | €1,459 | €1,859 | +€400 | +27.4% |
| Recurring financial charges | 65 | €1,459 | €1,859 | +€400 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,595 | €12,435 | +€19,030 | |
| Income taxes | 67/77 | -€3,551 | €12,915 | +€16,466 | |
| Profit (loss) for the period | 9904 | -€3,043 | -€480 | +€2,563 | +84.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,043 | -€480 | +€2,563 | +84.2% |
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 9 October 2026 via checked.be.