ADS-TEC Energy PLC (ADSE) Balance Sheet
ADSE balance sheet, 2025
December 31, 2025 · euros€90.2M assets = €101.0M liabilities + −€10.8M equity
Liabilities exceed assets: shareholders’ equity is negative (−€10.8M).
Both columns are drawn to the same scale: what ADSE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ADSE financial health
Descriptive bands, not a rating. Fiscal 2025.
ADSE balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | €50.4M2018 | €90.2M2025 | +8.7%/yr | |
| Total liabilities | €36.7M2018 | €101.0M2025 | +15.6%/yr | |
| Shareholders’ equity | €13.7M2018 | −€10.8M2025 | — | |
| Cash & short-term investments | €21.5M2018 | €7.0M2025 | −14.9%/yr | |
| Total debt | €1.4M2018 | €63.0M2025 | +72.5%/yr | |
| Net cash (debt) | €20.2M2018 | −€56.0M2025 | −€76.2M | |
| Working capital | €10.8M2018 | €24.5M2025 | +€13.7M | |
| Current ratio | 1.342018 | 1.582025 | +0.24 | |
| Debt / equity | 0.102018 | 0.512023 | +0.41 | |
| Shares outstanding | 48.8M2018 | 60.1M2025 | +3.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ADSE assets
ADSE liabilities and equity
ADSE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ADSE balance sheet in euros
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | €7.0M | €22.9M | €29.2M | €34.4M | €101.8M | €18,000 | €9.3M | €21.5M |
| Cash & equivalents | €7.0M | €22.9M | €29.2M | €34.4M | €101.8M | €18,000 | €9.3M | €21.5M |
| Short-term investments | — | — | €178,150 | — | — | — | — | — |
| Receivables | €8.6M | €28.5M | €21.2M | €17.0M | €11.4M | €2.6M | €3.5M | €3.4M |
| Inventory | €51.0M | €63.7M | €39.1M | €53.1M | €13.1M | €21.6M | €35.5M | €17.2M |
| Other current assets | €0 | €0 | €1,000 | €678,000 | €916,000 | €1.1M | €1.0M | €60,000 |
| Total current assets | €66.5M | €115.0M | €89.5M | €105.2M | €127.2M | €25.3M | €49.3M | €42.3M |
| Property, plant & equipment (net) | €10.6M | €9.6M | €9.7M | €8.8M | €4.9M | €4.5M | €3.2M | €2.4M |
| Goodwill & intangible assets | €25.8M | €20.5M | €25.0M | €22.1M | €17.0M | €15.3M | €10.5M | €5.7M |
| Long-term investments | €0 | €0 | €0 | €3.4M | €2.1M | €140,000 | €0 | €26,000 |
| Other non-current assets | €0 | €54,000 | €181,000 | €4,000 | €6,000 | €4,000 | €3,000 | €1,000 |
| Total assets | €90.2M | €145.2M | €124.4M | €139.4M | €151.2M | €45.3M | €63.0M | €50.4M |
| Liabilities | ||||||||
| Accounts payable | €20.6M | €35.0M | €21.9M | €15.7M | €14.0M | €12.5M | €5.8M | €6.6M |
| Short-term debt | €6.3M | €14.5M | €14.8M | €842,000 | €8.1M | €905,000 | €236,000 | €131,000 |
| Deferred revenue | €11.9M | €6.8M | €7.5M | €23.6M | €6.2M | €8.1M | €37.8M | €24.7M |
| Total current liabilities | €42.1M | €61.8M | €60.3M | €42.4M | €30.4M | €23.5M | €44.1M | €31.5M |
| Long-term debt | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| Lease obligations | €3.2M | €3.5M | €3.4M | €3.5M | €2.1M | €2.6M | €1.6M | €1.4M |
| Other long-term liabilities | €59.0M | €126.2M | €30.1M | €16.3M | €23.9M | €30.4M | €17.2M | €5.1M |
| Total liabilities | €101.0M | €188.0M | €90.5M | €58.7M | €54.3M | €53.9M | €61.3M | €36.7M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | €4,997 | €5,000 | €4,000 | €4,000 | €4,000 | €32,000 | €32,000 | €26,000 |
| Retained earnings (deficit) | −€344.2M | −€191.2M | −€136.1M | −€117.2M | −€117.2M | −€19.3M | −€7.2M | −€7.2M |
| Accumulated other comprehensive income | €333.4M | −€98.0M | −€55.1M | −€18.9M | −€87.6M | −€10.3M | −€12.1M | — |
| Minority interest | €0 | €0 | €0 | €0 | — | — | — | — |
| Total shareholders' equity | −€10.8M | −€42.8M | €33.9M | €80.7M | €96.9M | −€8.6M | €1.7M | €13.7M |
| Key figures | ||||||||
| Total debt | €63.0M | €16.8M | €17.3M | €3.5M | €9.6M | €2.9M | €1.6M | €1.4M |
| Net cash (debt) | −€56.0M | €6.0M | €11.8M | €31.0M | €92.2M | −€2.9M | €7.7M | €20.2M |
| Working capital | €24.5M | €53.2M | €29.2M | €62.9M | €96.7M | €1.9M | €5.2M | €10.8M |
| Tangible book value | −€36.6M | −€63.3M | €8.9M | €58.7M | €79.9M | −€23.9M | −€8.8M | €8.0M |
| Shares outstanding | 60.1M | 51.2M | 48.9M | 49.0M | 25.3M | 48.8M | 48.8M | 48.8M |
| Current ratio | 1.58 | 1.86 | 1.48 | 2.48 | 4.18 | 1.08 | 1.12 | 1.34 |
| Quick ratio | 0.37 | 0.83 | 0.83 | 1.21 | 3.72 | 0.11 | 0.29 | 0.79 |
| Debt / equity | — | — | 0.51 | 0.04 | 0.10 | — | 0.97 | 0.10 |
| Equity / assets | −12.0% | −29.5% | 27.3% | 57.9% | 64.1% | −18.9% | 2.7% | 27.3% |
| Jun '26 | Mar '26 | Dec '25 | Jun '25 | Mar '25 | Dec '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | €4.6M | €7.0M | €7.0M | €37.9M | €22.9M | €22.9M | €23.7M | €29.2M | €29.2M | €29.2M | €14.0M |
| Cash & equivalents | €4.6M | €7.0M | €7.0M | €37.9M | €22.9M | €22.9M | €23.7M | €29.2M | €29.2M | €29.2M | €14.0M |
| Short-term investments | — | — | — | — | — | — | — | €178,150 | — | — | — |
| Receivables | €6.4M | €8.6M | €8.6M | €8.8M | €28.5M | €14.9M | €32.7M | €21.2M | €21.2M | €15.3M | €26.9M |
| Inventory | €48.8M | €51.0M | €51.0M | €55.7M | €63.7M | €63.7M | €38.7M | €39.1M | €39.1M | €39.1M | €61.7M |
| Other current assets | €1 | €0 | €0 | €2.3M | €0 | €13.6M | €0 | €1,000 | €1,000 | €5.9M | €0 |
| Total current assets | €59.8M | €66.5M | €66.5M | €104.7M | €115.0M | €115.0M | €95.1M | €89.5M | €89.5M | €89.5M | €102.5M |
| Property, plant & equipment (net) | €10.3M | €10.6M | €10.6M | €9.6M | €9.6M | €9.6M | €10.9M | €9.7M | €9.8M | €9.7M | €9.7M |
| Goodwill & intangible assets | €10.4M | €12.9M | €25.8M | €18.7M | €20.5M | €20.5M | €23.1M | €25.0M | €25.0M | €25.0M | €23.5M |
| Long-term investments | €0 | €0 | €0 | €179,000 | €0 | €0 | €181,000 | €0 | €0 | €0 | €245,000 |
| Other non-current assets | €1.0M | €183,924 | €0 | €12,000 | €54,000 | €54,000 | €4,000 | €181,000 | €46,000 | €181,000 | €4,000 |
| Total assets | €81.6M | €90.2M | €90.2M | €133.1M | €145.2M | €145.2M | €129.2M | €124.4M | €124.4M | €124.4M | €136.0M |
| Liabilities | |||||||||||
| Accounts payable | €21.8M | €20.6M | €20.6M | €16.6M | €35.0M | €35.0M | €35.5M | €21.9M | €22.0M | €22.0M | €19.8M |
| Short-term debt | €17.2M | €6.3M | €6.3M | €25.8M | €14.5M | — | €15.3M | €14.8M | — | €13.9M | €11.7M |
| Deferred revenue | €16.1M | €11.9M | €11.9M | — | €6.8M | — | — | €7.5M | — | — | €22.7M |
| Total current liabilities | €63.9M | €42.1M | €42.1M | €55.3M | €61.8M | €61.8M | €64.5M | €60.3M | €60.3M | €60.3M | €56.3M |
| Long-term debt | €0 | €0 | €0 | €9.2M | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| Lease obligations | — | — | €3.2M | €2.9M | — | €3.5M | €4.9M | — | €3.4M | — | €3.7M |
| Other long-term liabilities | €9.9M | €59.0M | €59.0M | €83.5M | €126.2M | €126.2M | €66.6M | €30.1M | €30.1M | €30.1M | €27.2M |
| Total liabilities | €73.8M | €101.0M | €101.0M | €148.0M | €188.0M | €188.0M | €131.1M | €90.5M | €90.5M | €90.5M | €83.5M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | €6,997 | €4,997 | €4,997 | €5,000 | €5,000 | — | €5,000 | €4,000 | — | €4,000 | €4,000 |
| Retained earnings (deficit) | −€444.5M | −€344.2M | −€344.2M | −€303.9M | −€191.2M | −€289.2M | −€236.4M | −€136.1M | −€136.1M | −€191.2M | −€136.1M |
| Accumulated other comprehensive income | €452.2M | €333.4M | €333.4M | €289.0M | −€98.0M | — | €234.5M | −€55.1M | — | €225.1M | −€28.8M |
| Minority interest | — | — | €0 | €0 | — | €0 | — | — | — | — | — |
| Total shareholders' equity | €7.8M | −€10.8M | −€10.8M | −€14.9M | −€42.8M | −€42.8M | −€1.9M | €33.9M | €33.9M | €33.9M | €52.5M |
| Key figures | |||||||||||
| Total debt | €18.5M | €63.0M | €63.0M | €36.9M | €16.8M | — | €18.9M | €17.3M | — | €16.5M | €14.6M |
| Net cash (debt) | −€13.9M | −€56.0M | −€56.0M | €998,000 | €6.0M | — | €4.8M | €11.8M | — | €12.7M | −€613,000 |
| Working capital | −€4.1M | €24.5M | €24.5M | €49.4M | €53.2M | €53.2M | €30.6M | €29.2M | €29.2M | €29.2M | €46.2M |
| Tangible book value | −€2.6M | −€23.7M | −€36.6M | −€33.6M | −€63.3M | −€63.3M | −€24.9M | €8.9M | €8.9M | €8.9M | €29.0M |
| Shares outstanding | 75.0M | 60.1M | 60.1M | 55.8M | 51.7M | 52.4M | 50.7M | 49.0M | 50.6M | 49.0M | 48.9M |
| Current ratio | 0.94 | 1.58 | 1.58 | 1.89 | 1.86 | 1.86 | 1.47 | 1.48 | 1.48 | 1.48 | 1.82 |
| Quick ratio | 0.17 | 0.37 | 0.37 | 0.84 | 0.83 | 0.61 | 0.87 | 0.83 | 0.83 | 0.74 | 0.73 |
| Debt / equity | 2.38 | — | — | — | — | — | — | 0.51 | — | 0.49 | 0.28 |
| Equity / assets | 9.5% | −12.0% | −12.0% | −11.2% | −29.5% | −29.5% | −1.4% | 27.3% | 27.3% | 27.3% | 38.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed May 15, 2026); data from EODHD.
ADSE financial position
At the end of fiscal 2025 (December 31, 2025), ADS-TEC Energy had total assets of €90.2 million (down 37.9% from a year earlier), total liabilities of €101.0 million and shareholders' equity of -€10.8 million. It held €7.0 million in cash and short-term investments against €63.0 million of debt, net debt of €56.0 million. Its current ratio was 1.58. In the latest quarter (ended June 30, 2026) total assets were €81.6 million and equity €7.8 million.
Related: ADSE income statement, ADSE cash flow statement, ADSE key metrics. See the ADSE stock overview for the latest quote and news.
ADSE balance sheet FAQ
What are ADS-TEC Energy's total assets?
ADS-TEC Energy reported total assets of €90.2 million at the end of fiscal 2025 (December 31, 2025), compared with €145.2 million a year earlier.
How much debt does ADS-TEC Energy have?
ADS-TEC Energy had €63.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does ADS-TEC Energy have?
ADS-TEC Energy held €7.0 million in cash and short-term investments at the end of fiscal 2025; with €63.0 million of debt that is net debt of €56.0 million.
What is ADS-TEC Energy's book value?
ADS-TEC Energy's shareholders' equity (book value) was -€10.8 million at the end of fiscal 2025.
What is ADS-TEC Energy's current ratio?
ADS-TEC Energy had current assets of €66.5 million and current liabilities of €42.1 million, a current ratio of 1.58 (it can cover its short-term obligations).
How much goodwill does ADS-TEC Energy have?
ADS-TEC Energy carried €25.8 million of goodwill and intangible assets, 28.6% of total assets, at the end of fiscal 2025.