AD HERTECANT
Open bankruptcyA bankruptcy procedure is open for AD HERTECANT according to publications in the Belgian State Gazette; curator: FREDERIC LELEUX. The 2025 annual accounts show equity of €192k and a net result of €-82k.
Signals
Seven signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-82k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 10331 sector peers (2025).
NBB · sector comparisonPosition among 10331 sector peers
Solvency
better than 24%
← weakest
strongest →
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 30-03-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
35 d early
2023
40 d early
2022
44 d early
2021
26 d early
2020
35 d early
2019
24 d early
← before the deadline
after the deadline →
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
20-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€192k▼ 30.0%
2024 · €274k
2018: €341k
2019: €341k
2020: €452k
2021: €473k
2022: €268k
2023: €283k
2024: €274k
2018 → 2025
Total assets
€1.37M▼ 8.2%
2024 · €1.49M
2018: €1.30M
2019: €1.40M
2020: €1.59M
2021: €1.55M
2022: €1.44M
2023: €1.49M
2024: €1.49M
2018 → 2025
Net result
€-82k▼ 736%
2024 · €-10k
2018: €6k
2019: €70k
2020: €111k
2021: €21k
2022: €-205k
2023: €15k
2024: €-10k
2018 → 2025
Working capital
€-554k▼ 4.7%
2024 · €-529k
2018: €-423k
2019: €-431k
2020: €-486k
2021: €-466k
2022: €-613k
2023: €-562k
2024: €-529k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€473k-€268k▼ 43.3%€283k▲ 5.6%€274k▼ 3.5%€192k▼ 30.0%
Operating result€27k-€-212k€-17k▲ 91.9%€-10k▲ 40.1%€-99k▼ 855%
Net result€21k-€-205k€15k€-10k€-82k▼ 736%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €99k in 2025 against €10k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.37M
Fixed assets
€776k▼ 6.8%
Current assets
€593k▼ 10.1%
Equity and liabilities €1.37M
Equity
€192k▼ 30.0%
Debt
€1.18M▼ 3.4%
The debt ratio rises from 81.6% to 86.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-40k▼
2024 · €48k
Cash flow
€-23k▼
2024 · €49k
Solvency
14.0%▼
2024 · 18.4%
Current ratio
0.52▼
2024 · 0.55
Quick ratio
0.15▼
2024 · 0.20
Debt / equity
6.14▲
2024 · 4.45
ROE
-42.8%▼
2024 · -3.6%
ROA
-6.0%▼
2024 · -0.7%
Interest coverage
-1.67▼
2024 · 1.92
Debt
€1.18M▼
2024 · €1.22M
Debt ≤ 1 year
€1.15M▼
2024 · €1.19M
Income taxes
€0▼
2024 · €0
Staff costs
€582k▲
2024 · €552k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.49M€1.37M▼
Fixed assets21/28€832k€776k▼
Intangible fixed assets21€200k€200k=
Tangible fixed assets22/27€631k€575k▼
Land and buildings22€176k€176k=
Plant, machinery and equipment23€134k€108k▼
Furniture and vehicles24€7k€6k▼
Other tangible fixed assets26€314k€285k▼
Financial fixed assets28€605€605=
Current assets29/58€659k€593k▼
Stocks and contracts in progress3€424k€419k▼
Stocks30/36€424k€419k▼
Amounts receivable within one year40/41€80k€97k▲
Trade receivables40€14k€12k▼
Other amounts receivable41€66k€85k▲
Cash at bank and in hand54/58€109k€33k▼
Deferred charges and accrued income490/1€46k€44k▼
Equity and liabilities
Total equity and liabilities10/49€1.49M€1.37M▼
Equity10/15€274k€192k▼
Contributions10/11€250k€250k=
Revaluation surpluses12€200k€200k=
Profit (loss) carried forward14€-176k€-258k▼
Amounts payable17/49€1.22M€1.18M▼
Amounts payable within one year42/48€1.19M€1.15M▼
Trade debts44€802k€757k▼
Suppliers440/4€802k€757k▼
Taxes, remuneration and social security45€48k€42k▼
Remuneration and social security454/9€48k€42k▼
Other amounts payable47/48€338k€348k▲
Accrued charges and deferred income492/3€29k€30k▲
Income statement
Code20242025
Remuneration, social security and pensions62€552k€582k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€59k€59k▲
Other operating charges640/8€10k€60k▲
Gross operating margin9900€610k€603k▼
Operating profit (loss)9901€-10k€-99k▼
Financial income75/76B€26k€41k▲
Recurring financial income75€26k€41k▲
Financial charges65/66B€25k€24k▼
Recurring financial charges65€25k€24k▼
Profit (loss) for the period before taxes9903€-10k€-82k▼
Income taxes67/77€0€0▼
Profit (loss) for the period9904€-10k€-82k▼
Profit (loss) for the period to be appropriated9905€-10k€-82k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-176k€-258k▼
Profit (loss) brought forward from the previous period14P€-167k€-176k▼
Social balance
Average headcount (FTE)908712.712.5▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
18-05
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Dendermonde · AD HERTECANT BV EMIEL HERTECANTLAAN(B) 22, 9290 BERLARE · event 11-05-2026
30-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
26-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
21-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
17-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Weakest financial yearnet €-205k ▼1060%
Net result drops to €-205k, the lowest in the series.
04-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
26-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Highest result since 2018net €111k ▲59.5%
Net result €111k, the highest in the series.
06-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Berlare · 1 establishment unit since 2007
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Emiel Hertecantlaan(B) 229290 BerlareGround area
3,109 m²
Building footprint
1,503 m²
Volume, LiDAR
6,053 m³
Parcel 42003D0399/00M010, Flanders · tallest building 9.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
AD DELHAIZE BERLARE
since 20072.163.457.415
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42003D0399/00M010 | Flanders | 3,109 m² | 1 · 1,503 m² | 9.0 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | FREDERIC LELEUX DRUKKERIJSTRAAT 11, 9240 ZELE- |
11-05-2026 → present |
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Of 10,524 companies in sector 47110 we hold annual accounts for 5,859. 4,267 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-06-2007
Fiscal year end30-09
Activities, NACEBEL
47110Non-specialised retail sale with food, beverages or tobacco predominating
47114Supermarkets
52114
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.