Result
-€188,084 -€188,084
From profit to loss in 2025, after a profit of €112,948 in 2024.
AD KOERSEL
Lifetime
8 annual accounts with figures on one time axispeak €1.1m (2018)
€950,133▼ 8.2%
lowest -€237,203 (2022)
-€188,084▼ €301,033
peak €980,168 (2021)
€632,202▼ 22.9%
€3.5m▼ 5.2%
peak 18.2 FTE (2018)
12.7 FTE▼ 5.9%
Board4 names since 2017
4 directorsALFA BV and 3 others
Owners
99%ALFA
Documentsfilings and deeds
25-08-202625 days late
2025abbreviated format
Loss of €188,084Equity from €820,286 to €632,202
Key points
from the 2025 annual accountsDebts
€3.5m 85% of the balance sheet
Financial debts 11%Suppliers 5%Taxes and wages 3%Other 82%
Of this, €2.1m falls due within a year.
Staff
12.7 FTE from 18.2 in 2018
Between 2018 and 2025, 30% of the full-time equivalents disappeared.
Filings
8 annual accounts 8 late
The 2022 accounts came latest: 29 days after the end of the period.
Board
1 joined · 1 left
Board changed. Latest change 08-07-2026 · 3 in office.
Position in the sector
-€188,084
Lower net result than 95% of companies in retail trade. Sector median €27,458 · 12,841 companies.
Checked score
68
Healthy
Financially stronger than 31% of small companies in retail trade (NACE 47)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.7% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 3,697 companies (NACE 47, small).
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.1%
01-2025: 1.1%● unchanged vs 12-2024
02-2025: 1.1%● unchanged vs 01-2025
03-2025: 1.1%● unchanged vs 02-2025
04-2025: 1.2%▲ +0.1 percentage points vs 03-2025
05-2025: 1.1%▼ -0.1 percentage points vs 04-2025
06-2025: 1.2%▲ +0.1 percentage points vs 05-2025
07-2025: 1.3%▲ +0.1 percentage points vs 06-2025
08-2025: 2.0%▲ +0.7 percentage points vs 07-2025highest value
09-2025: 0.5%▼ -1.5 percentage points vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.4%▼ -0.1 percentage points vs 12-2025lowest value
02-2026: 0.4%● unchanged vs 01-2026lowest value
03-2026: 0.4%● unchanged vs 02-2026lowest value
04-2026: 0.5%▲ +0.1 percentage points vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.6%▲ +0.1 percentage points vs 06-2026
08-2026: 1.0%▲ +0.4 percentage points vs 07-2026
09-2026: 0.7%▼ -0.3 percentage points vs 08-2026
10-2026: 0.7%● unchanged vs 09-2026
11-2026: 0.7%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Equity €632,202 (15.3% of total assets)
Loss of €188,084 (financial year 2025)
Sector: Retail trade (NACE 47)
lowers risk
Figures for financial year 2025 (filed on 26-08-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 47, small). It does better than 29% of them on solvency, 59% on liquidity, 22% on profitability and 15% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 748 companies had the same profile as AD KOERSEL has now. Each dot stands for 2 companies, two years later.
96.7%
were still trading
1.9%
stopped another way
1.3%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AD KOERSEL itself: 0.7% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 748 companies, not a prediction for AD KOERSEL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €40,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.38 (1.38 in 2024), below the usual 1.5. Short-term debt is 50.3% and cash 19.2% of total assets. 84.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 8 filingsDeviation from the deadline
2025
25 days late
2024
29 days late
2023
22 days late
2022
29 days late
2021
25 days late
2020
12 days late
2019
19 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 23 days after the deadline. In the sector (NACE 47), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
VC
Vandecaetsbeek Chantal
Director, since 06-09-2017
- ALFA 99%equity €2.8m (2025) · 2025 annual accounts of ALFA
- Chantal Vandecaetsbeekannual accounts 2025
- David Vandecaetsbeekannual accounts 2025
Recent changes
1 director appointed, 1 resignation
Resignation: Linsen Tim · Appointment: Holding Linsen BV · Permanent representative: Linsen Tim · General meeting of 04-05-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0680761143
Environmental permit granted
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Beringen
Appointment: Linsen Tim (director)
Permanent representative: David Vandecaetsbeek · General meeting of 31-12-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| AD KOERSEL Beringen | €4.1m | €1.0m | 15.3% | 12.7 |
| RIBABOR Namur | €3.9m | €0.9m | 32.0% | 11.3 |
| DISTRY-CHAUDFONTAINE Aubel | €4.0m | €1.2m | 39.1% | 13.5 |
| Crescemen Dilsen-Stokkem | €3.2m | €0.9m | -19.4% | 16.7 |
| Crescekor Dilsen-Stokkem | €3.8m | €0.5m | -19.1% | 10.8 |
| AMKO RETAIL Ghent | €3.3m | €0.9m | 15.2% | 15.2 |
| BELLO DOK Ghent | €2.9m | €0.9m | 27.4% | 12.3 |
These companies have the same main activity as AD KOERSEL: non-specialised retail sale with food, beverages or tobacco predominating (NACE 47110). They are comparable in size and age: total assets between €2.9m and €4m, founded between 2015 and 2018.
Official details
Source: KBO- Status
- Active since 06-09-2017Normal situation
- Activity
- Non-specialised retail sale with food, beverages or tobacco predominatingNACE 47110
- Joint committees
- 119Food trade
- 202White-collar workers in food retail · annual accounts 2024
- Establishment unit
- 2.267.904.5403582 Beringen, since 06-09-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 09-09-2025
Annual accounts 2025
- ≈ €9.1mestimated
- €4.1m▼ 8.4%
- Employeeson 31-12-2025
- 13▼ 18.8%
- Filing
- Filed on 25-08-2026
Insights on AD KOERSEL
AD KOERSEL files the abbreviated format. That format states no turnover. The gross margin fell from €1.1m in 2018 to €950,133 in 2025.
The balance sheet grew most in 2021 through fixed assets, financed with long-term debt.
ALFA holds 99% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about AD KOERSEL
- What is the company number of AD KOERSEL?
- The company number of AD KOERSEL is 0680.761.143. The VAT number is the same number with BE in front: BE 0680.761.143.
- Where is AD KOERSEL based?
- The registered office is at Pieter Vanhoudtstraat 49, 3582 Beringen.Company details
- What does AD KOERSEL do?
- According to the KBO register, the main activity is non-specialised retail sale with food, beverages or tobacco predominating (NACE 47110).
- What is the legal form of AD KOERSEL?
- AD KOERSEL is a private limited company (pre-2019) (BVBA).
- When was AD KOERSEL founded?
- AD KOERSEL was founded on 06-09-2017.
- Is AD KOERSEL still active?
- Yes, AD KOERSEL is an active enterprise in the KBO register.
- How many employees does AD KOERSEL have?
- AD KOERSEL had an average of 12.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does AD KOERSEL fall under?
- In its 2024 annual accounts, AD KOERSEL states joint committees 119 (Food trade) and 202 (White-collar workers in food retail).
- What is the turnover of AD KOERSEL?
- The turnover in financial year 2025 is ≈ €9.1m. This figure is estimated from the gross margin of €950,133 and 42 comparable companies (NACE 47110). It probably lies between €7.5m and €12.0m.
- Is AD KOERSEL profitable?
- In financial year 2025, AD KOERSEL made a loss of €188,084.
- Where can I find the annual accounts of AD KOERSEL?
- AD KOERSEL filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of AD KOERSEL due?
- AD KOERSEL must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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