AD WAR SRL
ActiveSummary
The computed 12-month bankruptcy probability of AD WAR SRL is 1.5% (moderate). The 2025 annual accounts show equity of €26k and a net result of €209k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 10359 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
55
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability84▲+46
Solvency27▲+12
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.76 against 0.63 in 2024; short-term debt: 54.2% and cash: 5.7% of total assets), and 98.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← 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
1.5%
Return on assets
12.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 10359 sector peers (2025).
NBB · sector comparisonPosition among 10359 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
14 d late
2024
22 d late
2023
27 d late
2022
24 d late
2021
29 d late
2020
26 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€209k
2024 · €-40k
2020: €-84k
2021: €-832
2022: €21k
2023: €-80k
2024: €-40k
2020 → 2025
Working capital
€-224k▲ 45.6%
2024 · €-411k
2020: €-37k
2021: €-166k
2022: €-208k
2023: €-331k
2024: €-411k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-84k-€-63k▲ 24.9%€-143k▼ 127%€-183k▼ 28.3%€26k
Operating result€27k-€53k▲ 94.9%€-51k€-13k▲ 74.8%€255k
Net result€-832-€21k€-80k€-40k▲ 49.5%€209k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €255k after a loss of €13k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.69M
Fixed assets
€996k ▼ 8.7%
Current assets
€692k ▼ 1.2%
Equity and liabilities €1.69M
Equity
€26k
Debt
€1.66M
Debt finances 98.5% of the balance-sheet total.
Key figures and ratios
EBITDA
€349k▲
2024 · €82k
Cash flow
€304k▲
2024 · €54k
Current ratio
0.76▲
2024 · 0.63
Quick ratio
0.24▼
2024 · 0.29
Debt / equity
63.88▲
2024 · -10.77
ROE
804.8%
ROA
12.4%▲
2024 · -2.3%
Interest coverage
11.88▲
2024 · 2.67
Debt ≤ 1 year
€916k▼
2024 · €1.11M
Debt > 1 year
€698k▼
2024 · €838k
Income taxes
€16k
Staff costs
€539k▲
2024 · €522k
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 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.79M€1.69M▼
Fixed assets21/28€1.09M€996k▼
Tangible fixed assets22/27€1.09M€996k▼
Plant, machinery and equipment23€1.01M€929k▼
Furniture and vehicles24€5k€2k▼
Leasing and similar rights25€77k€65k▼
Current assets29/58€700k€692k▼
Amounts receivable after more than one year29€45k-
Other amounts receivable291€45k-
Stocks and contracts in progress3€382k€469k▲
Stocks30/36€382k€469k▲
Amounts receivable within one year40/41€214k€124k▼
Trade receivables40€52k€99k▲
Other amounts receivable41€162k€25k▼
Cash at bank and in hand54/58€58k€96k▲
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€1.79M€1.69M▼
Equity10/15€-183k€26k▲
Contributions10/11€1k€1k=
Profit (loss) carried forward14€-184k€25k▲
Amounts payable17/49€1.97M€1.66M▼
Amounts payable after more than one year17€838k€698k▼
Financial debts170/4€553k€413k▼
Other amounts payable178/9€285k€285k=
Amounts payable within one year42/48€1.11M€916k▼
Current portion of amounts payable after more than one year42€147k€140k▼
Financial debts43-€29k
Credit institutions430/8-€29k
Trade debts44€747k€548k▼
Suppliers440/4€747k€548k▼
Taxes, remuneration and social security45€92k€110k▲
Taxes450/3€2k€17k▲
Remuneration and social security454/9€90k€93k▲
Other amounts payable47/48€125k€87k▼
Accrued charges and deferred income492/3€25k€49k▲
Income statement
Code20242025
Remuneration, social security and pensions62€522k€539k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€94k€94k▲
Other operating charges640/8€14k€14k▲
Non-recurring operating charges66A€17k-
Gross operating margin9900€635k€903k▲
Operating profit (loss)9901€-13k€255k▲
Financial income75/76B€3k€217▼
Recurring financial income75€3k€217▼
Financial charges65/66B€31k€29k▼
Recurring financial charges65€31k€29k▼
Profit (loss) for the period before taxes9903€-40k€226k▲
Income taxes67/77-€16k
Profit (loss) for the period9904€-40k€209k▲
Profit (loss) for the period to be appropriated9905€-40k€209k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-184k€25k▲
Profit (loss) brought forward from the previous period14P€-144k€-184k▼
Social balance
Average headcount (FTE)908718.617.5▼
The notes to these accounts (15 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
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 14 days late
2025
31-12
Financial
Back to profitnet €209k
Net result €209k after 2 loss-making years.
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 22 days late
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 24 days late
2022
31-12
Financial
Back to profitnet €21k
Net result €21k after 2 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 29 days late
2021
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Charleroi · 1 establishment unit since 2019
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.
Grand'rue 2946000 CharleroiGround area
117 m²
Building footprint
28 m²
Volume, LiDAR
185 m³
Parcel 52302A0845/00H002, Wallonia · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
AD WAR
since 20192.294.512.234
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52302A0845/00H002 | Wallonia | 117 m² | 1 · 28 m² | 7.4 m · 2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteCharleroi2.294.512.234
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Of 10,519 companies in sector 47110 we hold annual accounts for 5,857. 4,345 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded17-09-2019
Fiscal year end31-12
Activities, NACEBEL
47110Non-specialised retail sale with food, beverages or tobacco predominating
47113Retail trade
47114Supermarkets
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.