ADEWE: what changed
Two fiscal 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.
ADEWE
Largest movements
- Receivables after one year +€160,662
up €160,662 (+34.6%), from €464,428 to €625,090
- Cash -€78,247
down €78,247 (-95.4%), from €82,060 to €3,814
mainly Receivables after one year (-€160,662) and Current investments (-€54,132)
- Current investments +€54,132
up €54,132 (+25.8%), from €209,591 to €263,723
- Reserves +€136,295
up €136,295 (+25.9%), from €526,549 to €662,843
- Financial income +€6,391
up €6,391 (+4.1%), from €157,079 to €163,470
- Gross operating margin -€695
down €695 (-23.0%), from -€3,023 to -€3,718
- Taxes +€595
up €595 (+4.6%), from €13,034 to €13,629
- Financial charges -€529
down €529 (-5.4%), from €9,837 to €9,309
- Other operating charges -€323
down €323 (-38.3%), from €843 to €520
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €818,079 | €954,627 | +€136,548 | +16.7% |
| Fixed assets | 21/28 | €62,000 | €62,000 | = | 0.0% |
| Financial fixed assets | 28 | €62,000 | €62,000 | = | 0.0% |
| Current assets | 29/58 | €756,079 | €892,627 | +€136,548 | +18.1% |
| Amounts receivable after more than one year | 29 | €464,428 | €625,090 | +€160,662 | +34.6% |
| Other amounts receivable | 291 | €464,428 | €625,090 | +€160,662 | +34.6% |
| Current investments | 50/53 | €209,591 | €263,723 | +€54,132 | +25.8% |
| Cash at bank and in hand | 54/58 | €82,060 | €3,814 | -€78,247 | -95.4% |
| Total equity and liabilities | 10/49 | €818,079 | €954,627 | +€136,548 | +16.7% |
| Equity | 10/15 | €531,549 | €667,843 | +€136,295 | +25.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €526,549 | €662,843 | +€136,295 | +25.9% |
| Distributable reserves | 133 | €526,549 | €662,843 | +€136,295 | +25.9% |
| Amounts payable | 17/49 | €286,530 | €286,784 | +€253 | +0.1% |
| Amounts payable within one year | 42/48 | €286,530 | €286,784 | +€253 | +0.1% |
| Trade debts | 44 | - | €172 | +€172 | |
| Suppliers | 440/4 | - | €172 | +€172 | |
| Taxes, remuneration and social security | 45 | €25,693 | €25,381 | -€313 | -1.2% |
| Taxes | 450/3 | €25,693 | €25,381 | -€313 | -1.2% |
| Other amounts payable | 47/48 | €260,837 | €261,231 | +€394 | +0.2% |
| Other operating charges | 640/8 | €843 | €520 | -€323 | -38.3% |
| Gross operating margin | 9900 | -€3,023 | -€3,718 | -€695 | -23.0% |
| Operating profit (loss) | 9901 | -€3,866 | -€4,237 | -€372 | -9.6% |
| Financial income | 75/76B | €157,079 | €163,470 | +€6,391 | +4.1% |
| Recurring financial income | 75 | €157,079 | €163,470 | +€6,391 | +4.1% |
| Financial charges | 65/66B | €9,837 | €9,309 | -€529 | -5.4% |
| Recurring financial charges | 65 | €9,837 | €9,309 | -€529 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €143,376 | €149,924 | +€6,548 | +4.6% |
| Income taxes | 67/77 | €13,034 | €13,629 | +€595 | +4.6% |
| Profit (loss) for the period | 9904 | €130,342 | €136,295 | +€5,953 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €130,342 | €136,295 | +€5,953 | +4.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.