AD2MIX
ActiveSummary
AD2MIX has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2,515 and a net result of -€1,767. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 23% of 11547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability48▼-13
Solvency31▼-6
Growth32=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity short (current ratio 0.95 against 1.11 in 2024; short-term debt: 89.9% and cash: 58.1% of total assets), and 93.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
6.1%
Return on assets
-4.3%
Age of the figures
18 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 11547 sector peers (2025).
NBB · sector comparisonPosition among 11547 sector peers
Solvency
better than 23%
← weakest
strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 16-03-2026, 136 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
136 d late
2024
9 d early
2023
5 d late
2022
68 d late
2021
113 d early
2020
93 d early
2018
2 d early
← 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 1 day before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close30-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€22,869
EBIT margin
-5.4%
Net result
-€1,767
2024 · €578
Working capital
-€1,716
2024 · €2,444
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€22,869
Operating result-€4,043-€1,228▲ 69.6%€5,433€4,539▼ 16.4%€290▼ 93.6%
Net result-€4,412below the sector's middle half-€1,557within the sector's middle half▲ 64.7%€2,473within the sector's middle half€578within the sector's middle half▼ 76.6%-€1,767within the sector's middle half
EBIT margin-5.4%
Equity€2,534below the sector's middle half▼ 63.5%€1,230below the sector's middle half▼ 51.4%€3,703below the sector's middle half▲ 201%€4,282below the sector's middle half▲ 15.6%€2,515below the sector's middle half▼ 41.3%
Total assets€24,259below the sector's middle half▲ 20.0%€21,472below the sector's middle half▼ 11.5%€32,453below the sector's middle half▲ 51.1%€34,900below the sector's middle half▲ 7.5%€41,218below the sector's middle half▲ 18.1%
Debt€21,725▲ 63.8%€20,241▼ 6.8%€28,749▲ 42.0%€30,618▲ 6.5%€38,704▲ 26.4%
Working capital€2,080within the sector's middle half▼ 65.4%€2,392within the sector's middle half▲ 15.0%€2,969within the sector's middle half▲ 24.1%€2,444within the sector's middle half▼ 17.7%-€1,716within the sector's middle half
Solvency10.4%within the sector's middle half▼ 23.9pp5.7%below the sector's middle half▼ 4.7pp11.4%within the sector's middle half▲ 5.7pp12.3%within the sector's middle half▲ 0.9pp6.1%below the sector's middle half▼ 6.2pp
Current ratio1.10within the sector's middle half▼ 0.361.13within the sector's middle half▲ 0.031.10within the sector's middle half▼ 0.021.11within the sector's middle half▲ 0.010.95within the sector's middle half▼ 0.16
Return on assets (ROA)-18.2%below the sector's middle half▼ 37.2pp-7.3%below the sector's middle half▲ 10.9pp7.6%within the sector's middle half▲ 14.9pp1.7%within the sector's middle half▼ 6.0pp-4.3%below the sector's middle half▼ 5.9pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 94% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €41,218
Fixed assets
€5,892 ▼ 41.5%
Current assets
€35,326 ▲ 42.2%
Equity and liabilities €41,218
Equity
€2,515 ▼ 41.3%
Debt
€38,704 ▲ 26.4%
Debt's share of the balance-sheet total rises from 87.7% to 93.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€4,463▼
2024 · €6,814
Cash flow
€2,406▼
2024 · €2,853
Debt to equity
15.39▲
2024 · 7.15
ROE
-70.3%▼
2024 · 13.5%
Interest coverage
4.16▼
2024 · 4.79
Debt ≤ 1 year
€37,042▲
2024 · €22,391
Debt > 1 year
€1,662▼
2024 · €4,038
Income taxes
€984▼
2024 · €2,540
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 849 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 92% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a small loss
4.6%
went bankrupt
3.3%
stopped otherwise
92%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 849 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 | - | €22,869 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €22,781 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €475 | €416 | €217 | €2,275 | €4,173 | ▲ 83.4% |
| Other operating charges640/8 | - | €900 | €277 | €884 | €1,376 | ▲ 55.7% |
| Non-recurring operating charges66A | - | - | €475 | - | - | - |
| Gross operating margin9900 | -€3,538 | €88 | €6,401 | €7,698 | €5,839 | ▼ 24.1% |
| Operating profit (loss)9901 | -€4,043 | -€1,228 | €5,433 | €4,539 | €290 | ▼ 93.6% |
| Financial income75/76B | - | - | €0 | €1 | - | - |
| Recurring financial income75 | - | - | €0 | €1 | - | - |
| Financial charges65/66B | - | €72 | €416 | €1,422 | €1,073 | ▼ 24.5% |
| Recurring financial charges65 | €231 | €72 | €416 | €1,422 | €1,073 | ▼ 24.5% |
| Profit (loss) for the period before taxes9903 | -€4,274 | -€1,300 | €5,017 | €3,118 | -€783 | ▼ 125% |
| Income taxes67/77 | €138 | €257 | €2,544 | €2,540 | €984 | ▼ 61.2% |
| Profit (loss) for the period9904 | -€4,412 | -€1,557 | €2,473 | €578 | -€1,767 | ▼ 406% |
| Profit (loss) for the period to be appropriated9905 | -€4,412 | -€1,557 | €2,473 | €578 | -€1,767 | ▼ 406% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €24,259 | €21,472 | €32,453 | €34,900 | €41,218 | ▲ 18.1% |
| Formation expenses20 | €260 | €38 | - | - | - | - |
| Fixed assets21/28 | €193 | €0 | €734 | €10,065 | €5,892 | ▼ 41.5% |
| Tangible fixed assets22/27 | €193 | €0 | €734 | €10,065 | €5,892 | ▼ 41.5% |
| Plant, machinery and equipment23 | - | - | - | €749 | €415 | ▼ 44.5% |
| Furniture and vehicles24 | - | €0 | €734 | €9,317 | €5,477 | ▼ 41.2% |
| Current assets29/58 | €23,805 | €21,434 | €31,718 | €24,835 | €35,326 | ▲ 42.2% |
| Stocks and contracts in progress3 | €7,002 | €0 | - | €9,031 | - | - |
| Stocks30/36 | - | €0 | - | €9,031 | - | - |
| Amounts receivable within one year40/41 | €5,389 | €512 | €4,905 | €6,891 | €3,463 | ▼ 49.7% |
| Trade receivables40 | - | €512 | €4,905 | €6,531 | €3,454 | ▼ 47.1% |
| Other amounts receivable41 | - | €0 | - | €360 | €10 | ▼ 97.3% |
| Cash at bank and in hand54/58 | €11,414 | €20,922 | €26,813 | €7,227 | €23,965 | ▲ 232% |
| Deferred charges and accrued income490/1 | - | - | - | €1,686 | €7,897 | ▲ 368% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €24,259 | €21,472 | €32,453 | €34,900 | €41,218 | ▲ 18.1% |
| Equity10/15 | €2,534 | €1,230 | €3,703 | €4,282 | €2,515 | ▼ 41.3% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Outside capital11 | - | €12,400 | - | - | - | - |
| Other1109/19 | - | €12,400 | - | - | - | - |
| Profit (loss) carried forward14 | -€9,866 | -€11,170 | -€8,697 | -€8,118 | -€9,885 | ▼ 21.8% |
| Amounts payable17/49 | €21,725 | €20,241 | €28,749 | €30,618 | €38,704 | ▲ 26.4% |
| Amounts payable after more than one year17 | - | - | - | €4,038 | €1,662 | ▼ 58.8% |
| Financial debts170/4 | - | - | - | €4,038 | €1,662 | ▼ 58.8% |
| Amounts payable within one year42/48 | €21,725 | €19,041 | €28,749 | €22,391 | €37,042 | ▲ 65.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,424 | €2,376 | ▼ 2.0% |
| Trade debts44 | €9,292 | €9,818 | €8,544 | €9,858 | €15,185 | ▲ 54.0% |
| Suppliers440/4 | - | €9,818 | €8,544 | €9,858 | €15,185 | ▲ 54.0% |
| Taxes, remuneration and social security45 | - | €1,021 | €10,601 | - | €5,123 | - |
| Taxes450/3 | - | €1,021 | €10,601 | - | €5,123 | - |
| Other amounts payable47/48 | - | €8,203 | €9,604 | €10,109 | €14,358 | ▲ 42.0% |
| Accrued charges and deferred income492/3 | - | €1,200 | - | €4,190 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,412 | -€1,557 | €2,473 | €578 | -€1,767 | ▼ 406% |
| + Depreciation and write-downs630 | €475 | €416 | €217 | €2,275 | €4,173 | ▲ 83.4% |
| Operating cash flow (approximation) | -€3,937 | -€1,141 | €2,690 | €2,853 | €2,406 | ▼ 15.7% |
| Investment in fixed assets (approximation) | - | -€222 | -€951 | -€11,606 | €0 | ▲ 100% |
| Change in cash | - | €9,508 | €5,892 | -€19,587 | €16,738 | ▲ 185% |
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
16-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 136 days late
2024
22-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 5 days late
28-02
Financial
Back to profitnet €2,473
Net result €2,473 after 2 loss-making years.
2022
07-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 68 days late
2021
09-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
28-02
Financial
Weakest financial yearnet -€4,412
Net result drops to -€4,412, the lowest in the series; recovery starts the following year.
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
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.
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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, Charleroi · 1 establishment unit since 2017
Ground area
328 m²
Building footprint
85 m²
Volume, LiDAR
910 m³
Parcel 52302A0988/00N000, Wallonia · tallest building 12.1 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
ADSPHALTE
since 20172.263.847.366
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52302A0988/00N000 | Wallonia | 328 m² | 1 · 85 m² | 12.1 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,228 companies in sector 46851 we hold annual accounts for 528. 34 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
Founded08-03-2017
Fiscal year end31-03
Activities, NACEBEL 2025
46851Wholesale of industrial chemicals
46180Agents specialised in the wholesale of other particular products
Contact
E-mail
info@adsphalte.comCharleroi
Phone
0478/052600Charleroi
E-invoicing
Reachable via Peppol
Peppol ID
0208:0672522576
Also
9925:BE0672522576
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.