Adsea Engineering: 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.
Adsea Engineering
Largest movements
- Cash +€37,693
up €37,693 (+29.0%), from €130,060 to €167,753
mainly Other debts (+€113,308) and Net result for the year (+€55,003)
- Tangible fixed assets -€10,518
down €10,518 (-30.2%), from €34,783 to €24,266
of which Furniture and vehicles: -€9,268
- Receivables within one year +€4,860
up €4,860 (+22.9%), from €21,251 to €26,111
of which Other amounts receivable: +€3,001
- Other debts +€113,308
up €113,308 (+1410.6%), from €8,033 to €121,341
- Profit (loss) carried forward -€62,644
down €62,644 (-45.8%), from €136,803 to €74,160
- Current portion of long-term debt -€16,500
no longer reported in 2025 (was €16,500)
- Gross operating margin -€24,369
down €24,369 (-22.0%), from €110,547 to €86,178
- Taxes -€2,723
down €2,723 (-13.9%), from €19,640 to €16,916
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 | €188,269 | €220,985 | +€32,716 | +17.4% |
| Formation expenses | 20 | €590 | €376 | -€215 | -36.4% |
| Fixed assets | 21/28 | €34,783 | €24,266 | -€10,518 | -30.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €34,783 | €24,266 | -€10,518 | -30.2% |
| Plant, machinery and equipment | 23 | €1,482 | €233 | -€1,249 | -84.3% |
| Furniture and vehicles | 24 | €33,302 | €24,033 | -€9,268 | -27.8% |
| Current assets | 29/58 | €152,895 | €196,344 | +€43,449 | +28.4% |
| Amounts receivable within one year | 40/41 | €21,251 | €26,111 | +€4,860 | +22.9% |
| Trade receivables | 40 | €21,251 | €23,110 | +€1,859 | +8.7% |
| Other amounts receivable | 41 | - | €3,001 | +€3,001 | |
| Cash at bank and in hand | 54/58 | €130,060 | €167,753 | +€37,693 | +29.0% |
| Deferred charges and accrued income | 490/1 | €1,584 | €2,480 | +€896 | +56.6% |
| Total equity and liabilities | 10/49 | €188,269 | €220,985 | +€32,716 | +17.4% |
| Equity | 10/15 | €146,803 | €84,160 | -€62,644 | -42.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,803 | €74,160 | -€62,644 | -45.8% |
| Amounts payable | 17/49 | €41,466 | €136,826 | +€95,360 | +230.0% |
| Amounts payable within one year | 42/48 | €41,466 | €136,826 | +€95,360 | +230.0% |
| Current portion of amounts payable after more than one year | 42 | €16,500 | - | -€16,500 | |
| Trade debts | 44 | €884 | €703 | -€181 | -20.5% |
| Suppliers | 440/4 | €884 | €703 | -€181 | -20.5% |
| Taxes, remuneration and social security | 45 | €16,049 | €14,782 | -€1,268 | -7.9% |
| Taxes | 450/3 | €16,049 | €14,782 | -€1,268 | -7.9% |
| Other amounts payable | 47/48 | €8,033 | €121,341 | +€113,308 | +1410.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,609 | €12,697 | +€88 | +0.7% |
| Other operating charges | 640/8 | €1,129 | €1,829 | +€701 | +62.1% |
| Gross operating margin | 9900 | €110,547 | €86,178 | -€24,369 | -22.0% |
| Operating profit (loss) | 9901 | €96,810 | €71,652 | -€25,158 | -26.0% |
| Financial income | 75/76B | €223 | €356 | +€133 | +59.8% |
| Recurring financial income | 75 | €223 | €356 | +€133 | +59.8% |
| Financial charges | 65/66B | €34 | €88 | +€54 | +157.6% |
| Recurring financial charges | 65 | €34 | €88 | +€54 | +157.6% |
| Profit (loss) for the period before taxes | 9903 | €96,998 | €71,920 | -€25,079 | -25.9% |
| Income taxes | 67/77 | €19,640 | €16,916 | -€2,723 | -13.9% |
| Profit (loss) for the period | 9904 | €77,359 | €55,003 | -€22,355 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €77,359 | €55,003 | -€22,355 | -28.9% |
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 4 October 2026 via checked.be.