ADAD
InactiveADAD was declared bankrupt on 26-07-2024 (Tribunal de l’entreprise francophone de Bruxelles); the bankruptcy was closed by liquidation by judgment of 16-12-2025, published in the Belgian State Gazette on 12-01-2026.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 6 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline25-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 18-07-2022, 13 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
13 d early
2020
56 d late
2019
135 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2021, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€6k▲ 7.3%
2020 · €6k
2018: €30khighest in 4 years
2019: €12k▼ -60.8% vs 2018
2020: €6k▼ -50.3% vs 2019lowest in 4 years
2021: €6k▲ +7.3% vs 2020
2018 → 2021
Working capital
€105k▲ 14.7%
2020 · €91k
2018: €46klowest in 4 years
2019: €76k▲ +64.5% vs 2018
2020: €91k▲ +19.3% vs 2019
2021: €105k▲ +14.7% vs 2020highest in 4 years
2018 → 2021
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2018201920202021Trend
Equity€102k-€122k▲ 19.1%€126k▲ 3.7%€133k▲ 4.9%
2018: €102klowest in 4 years
2019: €122k▲ +19.1% vs 2018
2020: €126k▲ +3.7% vs 2019
2021: €133k▲ +4.9% vs 2020highest in 4 years
Operating result€60k-€36k▼ 40.6%€-2k€12k
2018: €60khighest in 4 years
2019: €36k▼ -40.6% vs 2018
2020: €-2k▼ -106% vs 2019lowest in 4 years
2021: €12k▲ +614% vs 2020
Net result€30k-€12k▼ 60.8%€6k▼ 50.3%€6k▲ 7.3%
2018: €30khighest in 4 years
2019: €12k▼ -60.8% vs 2018
2020: €6k▼ -50.3% vs 2019lowest in 4 years
2021: €6k▲ +7.3% vs 2020
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2021: €12k after a loss of €2k in 2020.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €336k
Fixed assets
€28k ▼ 20.4%
Current assets
€308k ▲ 116%
Equity and liabilities €336k
Equity
€133k ▲ 4.9%
Debt
€203k ▲ 295%
Debt's share of the balance-sheet total rises from 28.9% to 60.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19k▲
2020 · €8k
Cash flow
€13k▼
2020 · €16k
Current ratio
1.51▼
2020 · 2.77
Quick ratio
1.48▼
2020 · 2.77
Debt to equity
1.53
ROE
4.7%▲
2020 · 4.6%
ROA
1.8%▼
2020 · 3.2%
Interest coverage
6.83
Debt ≤ 1 year
€203k▲
2020 · €51k
Income taxes
€11k▲
2020 · €4k
Staff costs
€21k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2021 against 2020 · 41 lines
Balance sheet
Code20202021
Assets
Total assets20/58€178k€336k▲
Fixed assets21/28€35k€28k▼
Intangible fixed assets21€11k€9k▼
Tangible fixed assets22/27€24k€19k▼
Land and buildings22-€19k
Plant, machinery and equipment23-€209
Current assets29/58€143k€308k▲
Stocks and contracts in progress3€395€7k▲
Stocks30/36-€7k
Amounts receivable within one year40/41€139k€300k▲
Trade receivables40-€163k
Other amounts receivable41-€137k
Cash at bank and in hand54/58€3k€830▼
Equity and liabilities
Total equity and liabilities10/49€178k€336k▲
Equity10/15€126k€133k▲
Contributions10/11-€15k
Profit (loss) carried forward14€111k€117k▲
Amounts payable17/49€51k€203k▲
Amounts payable within one year42/48€51k€203k▲
Current portion of amounts payable after more than one year42-€99k
Trade debts44€29k€81k▲
Suppliers440/4-€81k
Taxes, remuneration and social security45-€24k
Taxes450/3-€2k
Remuneration and social security454/9-€22k
Income statement
Code20202021
Non-recurring operating income76A-€12k
Remuneration, social security and pensions62-€21k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€7k▼
Other operating charges640/8-€3k
Gross operating margin9900€45k€44k▼
Operating profit (loss)9901€-2k€12k▲
Financial income75/76B-€8k
Recurring financial income75€14k€8k▼
Financial charges65/66B-€3k
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€10k€17k▲
Income taxes67/77€4k€11k▲
Profit (loss) for the period9904€6k€6k▲
Profit (loss) for the period to be appropriated9905€6k€6k▲
Appropriation of the result
Profit (loss) to be appropriated9906-€117k
Profit (loss) brought forward from the previous period14P-€111k
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €12k | - |
| Remuneration, social security and pensions62 | - | - | - | €21k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €10k | €10k | €7k | ▼ 29.9% |
| Other operating charges640/8 | - | - | - | €3k | - |
| Gross operating margin9900 | €106k | €75k | €45k | €44k | ▼ 3.3% |
| Operating profit (loss)9901 | €60k | €36k | €-2k | €12k | ▲ 614% |
| Financial income75/76B | - | - | - | €8k | - |
| Recurring financial income75 | - | - | €14k | €8k | ▼ 41.8% |
| Financial charges65/66B | - | - | - | €3k | - |
| Recurring financial charges65 | €13k | €3k | €2k | €3k | ▲ 31.5% |
| Profit (loss) for the period before taxes9903 | €44k | €29k | €10k | €17k | ▲ 73.0% |
| Income taxes67/77 | €15k | €17k | €4k | €11k | ▲ 163% |
| Profit (loss) for the period9904 | €30k | €12k | €6k | €6k | ▲ 7.3% |
| Profit (loss) for the period to be appropriated9905 | €30k | €12k | €6k | €6k | ▲ 7.3% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €423k | €230k | €178k | €336k | ▲ 88.9% |
| Fixed assets21/28 | €56k | €45k | €35k | €28k | ▼ 20.4% |
| Intangible fixed assets21 | €16k | €14k | €11k | €9k | ▼ 22.6% |
| Tangible fixed assets22/27 | €40k | €32k | €24k | €19k | ▼ 19.4% |
| Land and buildings22 | - | - | - | €19k | - |
| Plant, machinery and equipment23 | - | - | - | €209 | - |
| Current assets29/58 | €367k | €185k | €143k | €308k | ▲ 116% |
| Stocks and contracts in progress3 | €763 | €996 | €395 | €7k | ▲ 1,580% |
| Stocks30/36 | - | - | - | €7k | - |
| Amounts receivable within one year40/41 | €363k | €182k | €139k | €300k | ▲ 116% |
| Trade receivables40 | - | - | - | €163k | - |
| Other amounts receivable41 | - | - | - | €137k | - |
| Cash at bank and in hand54/58 | €4k | €2k | €3k | €830 | ▼ 75.4% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €423k | €230k | €178k | €336k | ▲ 88.9% |
| Equity10/15 | €102k | €122k | €126k | €133k | ▲ 4.9% |
| Contributions10/11 | €8k | €15k | - | €15k | - |
| Profit (loss) carried forward14 | €95k | €106k | €111k | €117k | ▲ 5.6% |
| Amounts payable17/49 | €321k | €108k | €51k | €203k | ▲ 295% |
| Amounts payable within one year42/48 | €321k | €108k | €51k | €203k | ▲ 295% |
| Current portion of amounts payable after more than one year42 | - | - | - | €99k | - |
| Trade debts44 | €137k | €84k | €29k | €81k | ▲ 179% |
| Suppliers440/4 | - | - | - | €81k | - |
| Taxes, remuneration and social security45 | - | - | - | €24k | - |
| Taxes450/3 | - | - | - | €2k | - |
| Remuneration and social security454/9 | - | - | - | €22k | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30k | €12k | €6k | €6k | ▲ 7.3% |
| + Depreciation and write-downs630 | €10k | €10k | €10k | €7k | ▼ 29.9% |
| Operating cash flow (approximation) | €40k | €21k | €16k | €13k | ▼ 16.5% |
| Investment in fixed assets (approximation) | - | €701 | €1 | €-1 | ▼ 200% |
| Change in cash | - | €-2k | €2k | €-3k | ▼ 268% |
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
2026
12-01
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise francophone de Bruxelles · event 16-12-2025
2024
02-08
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 26-07-2024
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
25-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 56 days late
2020
31-12
Financial
Weakest financial yearnet €6k ▼50.3%
Net result drops to €6k, the lowest in the series.
18-03
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
07-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
14-03
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 226 days late
2018
13-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 470 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | MAIA GUTMANN LE PAIGE RUE DE LA LOI 28,
1040 ETTERBEEK |
26-07-2024 → 16-12-2025 |