ACEDOR
ActiveSummary
ACEDOR has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €85,545 and a net result of €35,172. Equity is growing by ~15.9% per year across the filed fiscal years. Its solvency ranks better than 66% of 1913 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+9
Solvency87▼-13
Growth85▲+17
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 7.18 against 9.65 in 2024; short-term debt: 8.7% and cash: 34.7% of total assets), and 38.3% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
61.7%
Return on assets
25.4%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 13-04-2026, 17 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
17 d early
2024
2 d early
2023
6 d late
2022
4 d early
2021
4 d early
2020
4 d late
2019
6 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 2 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€84,943▲ 57.1%
2024 · €54,073
EBIT margin
44.9%▲ 25.3pp
2024 · 19.6%
Net result
€35,172▲ 346%
2024 · €7,878
Working capital
€74,430▲ 55.4%
2024 · €47,898
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€29,716€41,087▲ 38.3%€123,139▲ 200%€54,073▼ 56.1%€84,943▲ 57.1%
Operating result-€3,403▲ 32.7%-€1,448▲ 57.4%€21,737€10,601▼ 51.2%€38,176▲ 260%
Net result-€4,072▲ 53.2%-€1,976▲ 51.5%€21,491€7,878▼ 63.3%€35,172▲ 346%
EBIT margin-11.5%-3.5%▲ 7.9pp17.7%▲ 21.2pp19.6%▲ 2.0pp44.9%▲ 25.3pp
Equity€22,980▼ 15.1%€21,004▼ 8.6%€42,495▲ 102%€50,373▲ 18.5%€85,545▲ 69.8%
Total assets€26,452▼ 16.2%€31,684▲ 19.8%€52,582▲ 66.0%€55,910▲ 6.3%€138,685▲ 148%
Debt€3,472▼ 23.3%€10,680▲ 208%€10,087▼ 5.6%€5,537▼ 45.1%€53,140▲ 860%
Working capital€20,105▼ 21.4%€19,125▼ 4.9%€39,407▲ 106%€47,898▲ 21.5%€74,430▲ 55.4%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 260% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €138,685
Fixed assets
€52,218 ▲ 2,009%
Current assets
€86,467 ▲ 61.8%
Equity and liabilities €138,685
Equity
€85,545 ▲ 69.8%
Debt
€53,140 ▲ 860%
Debt's share of the balance-sheet total rises from 9.9% to 38.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€42,102▲
2024 · €12,003
Cash flow
€39,097▲
2024 · €9,280
Current ratio
7.18▼
2024 · 9.65
Debt to equity
0.62▲
2024 · 0.11
ROE
41.1%▲
2024 · 15.6%
ROA
25.4%▲
2024 · 14.1%
Interest coverage
54.29▼
2024 · 62.11
Debt ≤ 1 year
€12,037▲
2024 · €5,537
Debt > 1 year
€41,103
Income taxes
€2,229▼
2024 · €2,564
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 26,964 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €29,716 | €41,087 | €123,139 | €54,073 | €84,943 | ▲ 57.1% |
| Non-recurring operating income76A | €0 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €31,690 | €40,853 | €54,259 | €41,477 | €42,352 | ▲ 2.1% |
| Remuneration, social security and pensions62 | €0 | €212 | €21 | €81 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €944 | €996 | €1,884 | €1,402 | €3,926 | ▲ 180% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €44,762 | - | - | - |
| Other operating charges640/8 | €485 | €475 | €475 | €512 | €488 | ▼ 4.6% |
| Gross operating margin9900 | -€1,974 | €235 | €68,880 | €12,596 | €42,590 | ▲ 238% |
| Operating profit (loss)9901 | -€3,403 | -€1,448 | €21,737 | €10,601 | €38,176 | ▲ 260% |
| Financial income75/76B | €0 | - | €19 | €34 | €0 | ▼ 99.1% |
| Recurring financial income75 | €0 | - | €19 | €34 | €0 | ▼ 99.1% |
| Financial charges65/66B | €670 | €527 | €265 | €193 | €776 | ▲ 301% |
| Recurring financial charges65 | €670 | €527 | €265 | €193 | €776 | ▲ 301% |
| Profit (loss) for the period before taxes9903 | -€4,072 | -€1,976 | €21,491 | €10,442 | €37,401 | ▲ 258% |
| Income taxes67/77 | €0 | - | - | €2,564 | €2,229 | ▼ 13.0% |
| Profit (loss) for the period9904 | -€4,072 | -€1,976 | €21,491 | €7,878 | €35,172 | ▲ 346% |
| Profit (loss) for the period to be appropriated9905 | -€4,072 | -€1,976 | €21,491 | €7,878 | €35,172 | ▲ 346% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €26,452 | €31,684 | €52,582 | €55,910 | €138,685 | ▲ 148% |
| Formation expenses20 | €0 | - | - | - | - | - |
| Fixed assets21/28 | €2,875 | €1,879 | €3,088 | €2,475 | €52,218 | ▲ 2,009% |
| Tangible fixed assets22/27 | €2,875 | €1,879 | €3,088 | €2,475 | €52,218 | ▲ 2,009% |
| Plant, machinery and equipment23 | €2,629 | €1,823 | €984 | €635 | €212 | ▼ 66.6% |
| Furniture and vehicles24 | €246 | €57 | €2,104 | €1,840 | €52,006 | ▲ 2,726% |
| Current assets29/58 | €23,577 | €29,805 | €49,494 | €53,435 | €86,467 | ▲ 61.8% |
| Amounts receivable within one year40/41 | €1,057 | €1,160 | €27,830 | €32,294 | €37,952 | ▲ 17.5% |
| Trade receivables40 | €250 | €408 | €27,118 | €32,292 | €30,454 | ▼ 5.7% |
| Other amounts receivable41 | €807 | €751 | €712 | €1 | €7,498 | ▲ 594,941% |
| Cash at bank and in hand54/58 | €22,221 | €28,138 | €21,451 | €20,923 | €48,122 | ▲ 130% |
| Deferred charges and accrued income490/1 | €298 | €508 | €214 | €218 | €394 | ▲ 80.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €26,452 | €31,684 | €52,582 | €55,910 | €138,685 | ▲ 148% |
| Equity10/15 | €22,980 | €21,004 | €42,495 | €50,373 | €85,545 | ▲ 69.8% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €8,060 | ▲ 30.0% |
| Capital10 | €6,200 | €6,200 | €6,200 | €6,200 | - | - |
| Issued capital100 | €18,600 | €18,600 | €18,600 | €18,600 | - | - |
| Uncalled capital101 | €12,400 | €12,400 | €12,400 | €12,400 | - | - |
| Outside capital11 | €0 | - | - | - | - | - |
| Share premium1100/10 | €0 | - | - | - | - | - |
| Other1109/19 | €0 | - | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Legal reserve130 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Profit (loss) carried forward14 | €14,920 | €12,944 | €34,435 | €42,313 | €77,485 | ▲ 83.1% |
| Amounts payable17/49 | €3,472 | €10,680 | €10,087 | €5,537 | €53,140 | ▲ 860% |
| Amounts payable after more than one year17 | - | - | - | - | €41,103 | - |
| Financial debts170/4 | - | - | - | - | €41,103 | - |
| Amounts payable within one year42/48 | €3,472 | €10,680 | €10,087 | €5,537 | €12,037 | ▲ 117% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €10,094 | - |
| Trade debts44 | €1,251 | €8,568 | €616 | €538 | €735 | ▲ 36.7% |
| Suppliers440/4 | €1,251 | €8,568 | €616 | €538 | €735 | ▲ 36.7% |
| Taxes, remuneration and social security45 | €1,200 | €1,200 | €9,471 | €4,939 | €1,207 | ▼ 75.6% |
| Taxes450/3 | €0 | - | €8,271 | €3,739 | €1,207 | ▼ 67.7% |
| Remuneration and social security454/9 | €1,200 | €1,200 | €1,200 | €1,200 | - | - |
| Other amounts payable47/48 | €1,021 | €912 | - | €60 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,072 | -€1,976 | €21,491 | €7,878 | €35,172 | ▲ 346% |
| + Depreciation and write-downs630 | €944 | €996 | €1,884 | €1,402 | €3,926 | ▲ 180% |
| Operating cash flow (approximation) | -€3,129 | -€980 | €23,375 | €9,280 | €39,097 | ▲ 321% |
| Investment in fixed assets (approximation) | - | €0 | -€3,092 | -€789 | -€53,669 | ▼ 6,700% |
| Change in cash | - | €5,916 | -€6,687 | -€527 | €27,198 | ▲ 5,257% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €35,172 ▲346%
Operating result €38,176, net result €35,172, both a record.
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
06-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 6 days late
2023
30-09
Financial
Back to profitnet €21,491
Net result €21,491 after 3 loss-making years.
26-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
04-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 4 days late
2020
30-09
Financial
Weakest financial yearnet -€8,710
Net result drops to -€8,710, the lowest in the series; recovery starts the following year.
06-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 6 days late
2019
02-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 2 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Seraing
Ground area
214 m²
Building footprint
36 m²
Volume, LiDAR
266 m³
Parcel 62357G0798/00D010, Wallonia · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62357G0798/00D010indicative | Wallonia | 214 m² | 1 · 36 m² | 11.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
DF STEELING
BE 0778.506.360
Frasnes-lez-Anvaing · Eq €85,730
Stieldoors
BE 0798.202.013
Dessel · Eq €85,250
DARIO EECKHOUT
BE 0760.354.294
Brugge · Eq €85,156
Montagebedrijf Verstraeten
BE 0888.449.229
Edegem · Eq €85,092
DECOFAS
BE 0457.271.856
Tessenderlo-Ham · Eq €86,008
Of 3,984 companies in sector 25110 we hold annual accounts for 2,145. 1,585 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-05-2017
Fiscal year end30-09
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
25120Manufacture of fabricated metal products, except machinery and equipment
43320Joinery installation
43342Specialised construction activities
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0676382384
Also
9925:BE0676382384
Registered
19-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.