ADALGI
ActiveSummary
ADALGI has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €374,870 and a net result of -€43. Equity is growing by ~46.4% per year across the filed fiscal years. Its solvency ranks better than 57% of 4238 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-34
Solvency67▼-3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22,000 at 30 days acceptable
Liquidity tight (current ratio 1.35 against 1.86 in 2024; short-term debt: 49.2% and cash: 8.5% of total assets), and 58.2% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
41.8%
Return on assets
0%
Age of the figures
18 mo
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 27-11-2025, 27 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 · 10 filingsDeviation from the deadline
2025
27 d late
2024
27 d late
2023
26 d early
2022
24 d late
2021
25 d late
2020
5 d late
2019
37 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 6 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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. Usually files around 25 November (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close01-10-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€43
2024 · €100,728
Working capital
€154,211▼ 51.1%
2024 · €315,093
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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 47, Retail 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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€113,765▲ 24.9%€80,985▼ 28.8%€164,613▲ 103%€147,318▼ 10.5%€14,716▼ 90.0%
Net result€74,036within the sector's middle half▼ 2.7%€51,001within the sector's middle half▼ 31.1%€112,383within the sector's middle half▲ 120%€100,728within the sector's middle half▼ 10.4%-€43within the sector's middle half
Equity€110,800within the sector's middle half▲ 201%€161,801within the sector's middle half▲ 46.0%€274,184within the sector's middle half▲ 69.5%€374,912within the sector's middle half▲ 36.7%€374,870within the sector's middle half=
Total assets€520,740within the sector's middle half▼ 6.0%€579,733within the sector's middle half▲ 11.3%€752,421within the sector's middle half▲ 29.8%€842,476within the sector's middle half▲ 12.0%€896,045within the sector's middle half▲ 6.4%
Debt€409,940▼ 20.8%€417,932▲ 1.9%€478,237▲ 14.4%€467,564▼ 2.2%€521,175▲ 11.5%
Working capital€115,994within the sector's middle half▲ 181%€156,011within the sector's middle half▲ 34.5%€222,003within the sector's middle half▲ 42.3%€315,093within the sector's middle half▲ 41.9%€154,211within the sector's middle half▼ 51.1%
Solvency21.3%within the sector's middle half▲ 14.6pp27.9%within the sector's middle half▲ 6.6pp36.4%within the sector's middle half▲ 8.5pp44.5%within the sector's middle half▲ 8.1pp41.8%within the sector's middle half▼ 2.7pp
Current ratio1.37within the sector's middle half▲ 0.261.43within the sector's middle half▲ 0.061.48within the sector's middle half▲ 0.051.86within the sector's middle half▲ 0.381.35within the sector's middle half▼ 0.51
Return on assets (ROA)14.2%above the sector's middle half▲ 0.5pp8.8%within the sector's middle half▼ 5.4pp14.9%above the sector's middle half▲ 6.1pp12.0%above the sector's middle half▼ 3.0pp0.0%within the sector's middle half▼ 12.0pp
Staff (FTE)8.4within the sector's middle half▼ 3.4%8.6within the sector's middle half▲ 2.4%9.6within the sector's middle half▲ 11.6%10.8within the sector's middle half▲ 12.5%11.7within the sector's middle half▲ 8.3%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 90% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €896,045
Fixed assets
€301,021 ▲ 85.8%
Current assets
€595,024 ▼ 12.6%
Equity and liabilities €896,045
Equity
€374,870 =
Debt
€521,175 ▲ 11.5%
Debt's share of the balance-sheet total rises from 55.5% to 58.2%. Debt is higher.
Key figures and ratios
EBITDA
€62,019▼
2024 · €180,311
Cash flow
€47,260▼
2024 · €133,721
Quick ratio
0.77▼
2024 · 1.29
Debt to equity
1.39▲
2024 · 1.25
ROE
0.0%▼
2024 · 26.9%
Interest coverage
3.78▼
2024 · 10.82
Debt ≤ 1 year
€440,813▲
2024 · €365,396
Debt > 1 year
€74,375▼
2024 · €91,875
Income taxes
€382▼
2024 · €33,455
Staff costs
€373,779▲
2024 · €363,958
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,612 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.1%
stopped otherwise
94%
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 0.6% 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 497,341 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 8,612 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €262,851 | €312,767 | €363,958 | €373,779 | ▲ 2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €49,724 | €53,685 | €16,343 | €32,993 | €47,303 | ▲ 43.4% |
| Other operating charges640/8 | - | €13,665 | €13,828 | €17,005 | €15,976 | ▼ 6.0% |
| Non-recurring operating charges66A | - | - | €272 | €297 | - | - |
| Gross operating margin9900 | €426,786 | €411,186 | €507,823 | €561,571 | €451,774 | ▼ 19.6% |
| Operating profit (loss)9901 | €113,765 | €80,985 | €164,613 | €147,318 | €14,716 | ▼ 90.0% |
| Financial income75/76B | - | €1,732 | €1,668 | €4,322 | €2,047 | ▼ 52.6% |
| Recurring financial income75 | €1,470 | €1,732 | €1,668 | €4,322 | €2,047 | ▼ 52.6% |
| Financial charges65/66B | - | €14,479 | €13,624 | €17,457 | €16,424 | ▼ 5.9% |
| Recurring financial charges65 | €15,542 | €14,479 | €13,224 | €16,657 | €16,424 | ▼ 1.4% |
| Non-recurring financial charges66B | - | - | €400 | €800 | - | - |
| Profit (loss) for the period before taxes9903 | €99,693 | €68,238 | €152,657 | €134,183 | €339 | ▼ 99.7% |
| Income taxes67/77 | €25,657 | €17,237 | €40,274 | €33,455 | €382 | ▼ 98.9% |
| Profit (loss) for the period9904 | €74,036 | €51,001 | €112,383 | €100,728 | -€43 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €74,036 | €51,001 | €112,383 | €100,728 | -€43 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €520,740 | €579,733 | €752,421 | €842,476 | €896,045 | ▲ 6.4% |
| Fixed assets21/28 | €93,469 | €63,160 | €67,469 | €161,987 | €301,021 | ▲ 85.8% |
| Tangible fixed assets22/27 | €93,469 | €63,160 | €67,469 | €161,987 | €301,021 | ▲ 85.8% |
| Plant, machinery and equipment23 | - | €63,160 | €66,406 | €161,190 | €300,489 | ▲ 86.4% |
| Furniture and vehicles24 | - | - | €1,063 | €797 | €532 | ▼ 33.3% |
| Current assets29/58 | €427,271 | €516,573 | €684,952 | €680,489 | €595,024 | ▼ 12.6% |
| Stocks and contracts in progress3 | €195,993 | €167,089 | €230,500 | €210,426 | €253,719 | ▲ 20.6% |
| Stocks30/36 | - | €167,089 | €230,500 | €210,426 | €253,719 | ▲ 20.6% |
| Amounts receivable within one year40/41 | €150,870 | €294,829 | €342,793 | €405,296 | €261,964 | ▼ 35.4% |
| Trade receivables40 | - | €25,405 | €74,919 | €141,808 | €60,910 | ▼ 57.0% |
| Other amounts receivable41 | - | €269,424 | €267,874 | €263,488 | €201,054 | ▼ 23.7% |
| Cash at bank and in hand54/58 | €77,299 | €50,908 | €108,305 | €56,972 | €76,184 | ▲ 33.7% |
| Deferred charges and accrued income490/1 | - | €3,747 | €3,354 | €7,795 | €3,156 | ▼ 59.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €520,740 | €579,733 | €752,421 | €842,476 | €896,045 | ▲ 6.4% |
| Equity10/15 | €110,800 | €161,801 | €274,184 | €374,912 | €374,870 | = |
| Contributions10/11 | €62,500 | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Capital10 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Issued capital100 | - | €62,500 | €62,500 | €62,500 | €62,500 | = |
| Reserves13 | €48,300 | €99,301 | €211,684 | €312,412 | €312,370 | = |
| Non-distributable reserves130/1 | - | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Legal reserve130 | - | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Distributable reserves133 | - | €93,051 | €205,434 | €306,162 | €306,120 | = |
| Profit (loss) carried forward14 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €409,940 | €417,932 | €478,237 | €467,564 | €521,175 | ▲ 11.5% |
| Amounts payable after more than one year17 | €97,582 | €56,301 | €14,212 | €91,875 | €74,375 | ▼ 19.0% |
| Financial debts170/4 | - | €56,301 | €14,212 | €91,875 | €74,375 | ▼ 19.0% |
| Amounts payable within one year42/48 | €311,277 | €360,562 | €462,949 | €365,396 | €440,813 | ▲ 20.6% |
| Current portion of amounts payable after more than one year42 | - | €41,281 | €42,089 | €27,337 | €17,500 | ▼ 36.0% |
| Trade debts44 | €197,639 | €261,682 | €325,566 | €258,286 | €362,395 | ▲ 40.3% |
| Suppliers440/4 | - | €261,682 | €325,566 | €258,286 | €362,395 | ▲ 40.3% |
| Taxes, remuneration and social security45 | - | €57,599 | €95,294 | €79,773 | €60,918 | ▼ 23.6% |
| Taxes450/3 | - | €416 | €40,690 | €416 | €382 | ▼ 8.2% |
| Remuneration and social security454/9 | - | €57,183 | €54,604 | €79,357 | €60,536 | ▼ 23.7% |
| Accrued charges and deferred income492/3 | - | €1,069 | €1,076 | €10,293 | €5,987 | ▼ 41.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €74,036 | €51,001 | €112,383 | €100,728 | -€43 | ▼ 100% |
| + Depreciation and write-downs630 | €49,724 | €53,685 | €16,343 | €32,993 | €47,303 | ▲ 43.4% |
| Operating cash flow (approximation) | €123,760 | €104,686 | €128,726 | €133,721 | €47,260 | ▼ 64.7% |
| Investment in fixed assets (approximation) | - | -€23,376 | -€20,652 | -€127,511 | -€186,337 | ▼ 46.1% |
| Change in cash | - | -€26,391 | €57,397 | -€51,333 | €19,212 | ▲ 137% |
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
2025
27-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 27 days late
2024
27-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 27 days late
2023
05-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Highest result since 2019net €112,383 ▲120%
Operating result €164,613, net result €112,383, both a record.
31-03
Financial
Equity above €200,000Eq €274,184 ▲69.5%
4 profitable years in a row build equity to €274,184.
2022
24-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 24 days late
31-03
Financial
Equity above €150,000Eq €161,801 ▲46%
3 profitable years in a row build equity to €161,801.
2021
25-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 25 days late
31-03
Financial
Equity above €100,000Eq €110,800 ▲201%
2 profitable years in a row build equity to €110,800.
2020
05-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 5 days late
31-03
Financial
Back to profitnet €76,127
Net result €76,127 after one loss-making year.
2019
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
03-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Fosses-la-Ville · 1 establishment unit since 2002
Ground area
1.4 ha
Building footprint
1,795 m²
Volume, LiDAR
10,027 m³
2 parcels, Wallonia · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GB-CONTACT
since 20022.115.057.086
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92048G0083/00F000 | Wallonia | 7,877 m² | 1 · 658 m² | 9.4 m · 2 fl. |
| 92048G0084/00M000 | Wallonia | 6,502 m² | 1 · 1,137 m² | 7.2 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerOwners 1
-
48%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Food safety, FASFC
1 siteFosses-la-Ville2.115.057.086
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Of 10,504 companies in this sector we hold annual accounts for 5,855. 3,515 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded09-09-2002
Fiscal year end31-03
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478285224
Also
9925:BE0478285224
Registered
22-07-2025
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.