POWER@SEA: what changed
What changed
POWER@SEA
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
€4.2m
2024 · €15.4m-€11.2m
Equity
€22.2m
2024 · €22.4m-€227,526
Cash
€2.9m
2024 · €5.5m-€2.6m
Balance sheet total
€25.2m
2024 · €34.4m-€9.2m
Largest movements
Assets
- Current investments -€5.1m
down €5.1m (-56.0%), from €9.1m to €4.0m
- Cash -€2.6m
down €2.6m (-46.8%), from €5.5m to €2.9m
mainly Other debts (-€9.0m) and Contributions, distributions and other (-€4.4m)
- Receivables within one year -€1.6m
down €1.6m (-68.4%), from €2.3m to €718,629
Equity and liabilities
- Other debts -€9.0m
down €9.0m (-75.0%), from €12.0m to €3.0m
Income statement
- Financial income -€11.2m
down €11.2m (-72.8%), from €15.4m to €4.2m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€15.4m
Other operating charges
-€26
Other operating items
+€3,372
Financial income
-€11.2m
Financial charges
+€70
Result 2025
€4.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€3.3m
Investment
+€5.1m
Financing
-€4.4m
Cash 2024
€5.5m
From operations (derived)
-€3.3m
Net result for the year
+€4.2m
Receivables within one year
+€1.6m
Smaller working-capital items
-€8,827
Other debts
-€9.0m
Investment (derived)
+€5.1m
Current investments
+€5.1m
Financing
-€4.4m
Contributions, distributions and other
-€4.4m
Cash 2025
€2.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,428,823 | €25,195,834 | -€9.2m | -26.8% |
| Fixed assets | 21/28 | €17,534,288 | €17,534,288 | = | 0.0% |
| Financial fixed assets | 28 | €17,534,288 | €17,534,288 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €9,038,826 | €9,038,826 | = | 0.0% |
| Participating interests | 282 | €9,038,826 | €9,038,826 | = | 0.0% |
| Other financial fixed assets | 284/8 | €8,495,462 | €8,495,462 | = | 0.0% |
| Shares | 284 | €8,495,462 | €8,495,462 | = | 0.0% |
| Current assets | 29/58 | €16,894,535 | €7,661,546 | -€9.2m | -54.7% |
| Amounts receivable within one year | 40/41 | €2,272,092 | €718,629 | -€1.6m | -68.4% |
| Other amounts receivable | 41 | €2,272,092 | €718,629 | -€1.6m | -68.4% |
| Current investments | 50/53 | €9,100,000 | €4,000,000 | -€5.1m | -56.0% |
| Other investments | 51/53 | €9,100,000 | €4,000,000 | -€5.1m | -56.0% |
| Cash at bank and in hand | 54/58 | €5,522,443 | €2,939,553 | -€2.6m | -46.8% |
| Deferred charges and accrued income | 490/1 | - | €3,365 | +€3,365 | |
| Total equity and liabilities | 10/49 | €34,428,823 | €25,195,834 | -€9.2m | -26.8% |
| Equity | 10/15 | €22,423,360 | €22,195,834 | -€227,526 | -1.0% |
| Contributions | 10/11 | €20,158,719 | €20,158,719 | = | 0.0% |
| Capital | 10 | €20,158,719 | €20,158,719 | = | 0.0% |
| Issued capital | 100 | €20,158,719 | €20,158,719 | = | 0.0% |
| Reserves | 13 | €2,015,872 | €2,015,872 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,015,872 | €2,015,872 | = | 0.0% |
| Legal reserve | 130 | €2,015,872 | €2,015,872 | = | 0.0% |
| Profit (loss) carried forward | 14 | €248,769 | €21,243 | -€227,526 | -91.5% |
| Amounts payable | 17/49 | €12,005,463 | €3,000,000 | -€9.0m | -75.0% |
| Amounts payable within one year | 42/48 | €12,005,463 | €3,000,000 | -€9.0m | -75.0% |
| Trade debts | 44 | €5,463 | - | -€5,463 | |
| Suppliers | 440/4 | €5,463 | - | -€5,463 | |
| Other amounts payable | 47/48 | €12,000,000 | €3,000,000 | -€9.0m | -75.0% |
| Operating charges | 60/66A | €23,696 | €20,350 | -€3,346 | -14.1% |
| Goods for resale, raw materials and consumables | 60 | €7,421 | €7,721 | +€300 | +4.0% |
| Purchases | 600/8 | €7,421 | €7,721 | +€300 | +4.0% |
| Services and other goods | 61 | €16,157 | €12,485 | -€3,672 | -22.7% |
| Other operating charges | 640/8 | €118 | €144 | +€26 | +22.1% |
| Operating profit (loss) | 9901 | -€23,696 | -€20,350 | +€3,346 | +14.1% |
| Financial income | 75/76B | €15,439,177 | €4,197,231 | -€11.2m | -72.8% |
| Recurring financial income | 75 | €15,439,177 | €4,197,231 | -€11.2m | -72.8% |
| Income from financial fixed assets | 750 | €15,380,884 | €4,083,867 | -€11.3m | -73.4% |
| Income from current assets | 751 | €58,293 | €113,364 | +€55,070 | +94.5% |
| Financial charges | 65/66B | €1,340 | €1,271 | -€70 | -5.2% |
| Recurring financial charges | 65 | €1,340 | €1,271 | -€70 | -5.2% |
| Other financial charges | 652/9 | €1,340 | €1,271 | -€70 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €15,414,141 | €4,175,610 | -€11.2m | -72.9% |
| Taxes | 670/3 | €2,269,028 | €716,507 | -€1.6m | -68.4% |
| Tax adjustments and reversals of tax provisions | 77 | €2,269,028 | €716,507 | -€1.6m | -68.4% |
| Profit (loss) for the period | 9904 | €15,414,141 | €4,175,610 | -€11.2m | -72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,414,141 | €4,175,610 | -€11.2m | -72.9% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.