ADBROCON
ActiveSummary
ADBROCON is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The latest annual accounts of ADBROCON were filed more than 90 days after the deadline. The 2025 annual accounts show negative equity (-€1.3m) and a net result of -€190,573. Equity is shrinking by ~32.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 5565 sector peers (fiscal year 2025). The company has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Filing: Filed more than 90 days late
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 5565 sector peers (2025).
NBB · sector comparisonPosition among 5565 sector peers
Solvency
better than 5%
← weakest
strongest →
raises risk · Filed more than 90 days late
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 05-08-2026, 97 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 · 10 filingsDeviation from the deadline
2025
97 d late
2024
120 d late
2023
31 d late
2022
137 d late
2021
123 d late
2020
25 d late
2019
33 d late
← 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 81 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#9 oldest company in Zedelgem, Finance and insurance sector
Equity
-€1.3m▼ 17.1%
2024 · -€1.1m
Net result
-€190,573▲ 26.0%
2024 · -€257,402
Total assets
€2.8m▼ 6.9%
2024 · €3.1m
Solvency
-45.9%▼ 9.4pp
2024 · -36.5%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€276,958▼ 142%-€72,583▲ 73.8%-€42,537▲ 41.4%-€66,237▼ 55.7%-€71,061▼ 7.3%
Net result-€353,935▼ 115%-€141,983▲ 59.9%-€173,388▼ 22.1%-€257,402▼ 48.5%-€190,573▲ 26.0%
Equity-€544,123▼ 186%-€686,106▼ 26.1%-€859,495▼ 25.3%-€1.1m▼ 29.9%-€1.3m▼ 17.1%
Total assets€3.6m▲ 36.6%€3.4m▼ 6.3%€3.3m▼ 3.5%€3.1m▼ 6.8%€2.8m▼ 6.9%
Debt€4.2m▲ 46.6%€4.1m▼ 2.0%€4.1m▲ 1.4%€4.2m▲ 0.8%€4.2m▼ 0.5%
Working capital€295,066▲ 118%-€323,064-€18,758▲ 94.2%-€254,257▼ 1,255%-€487,040▼ 91.6%
Solvency-15.0%▼ 7.8pp-20.2%▼ 5.2pp-26.2%▼ 6.0pp-36.5%▼ 10.3pp-45.9%▼ 9.4pp
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2022 Net result +60% on 2021. Cause not known from the registers.
- 2021 Net result -115%, Equity -186% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €71,061 in 2025 against €66,237 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.8m
Fixed assets
€2.7m ▲ 2.1%
Current assets
€168,123 ▼ 61.2%
Key figures and ratios
ROA
-6.7%▲
2024 · -8.4%
Debt ≤ 1 year
€655,163▼
2024 · €687,456
Debt > 1 year
€3.4m▼
2024 · €3.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €3,058 | €55,139 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,728 | €13,997 | €14,345 | €27,235 | €30,410 | ▲ 11.7% |
| Other operating charges640/8 | €39,981 | €9,690 | €45,894 | €13,063 | €11,521 | ▼ 11.8% |
| Non-recurring operating charges66A | €112,426 | - | - | €20,436 | - | - |
| Gross operating margin9900 | -€101,823 | -€48,895 | €17,702 | -€5,504 | -€29,129 | ▼ 429% |
| Operating profit (loss)9901 | -€276,958 | -€72,583 | -€42,537 | -€66,237 | -€71,061 | ▼ 7.3% |
| Financial income75/76B | €1 | - | €62 | €1,425 | €45,856 | ▲ 3,119% |
| Recurring financial income75 | €1 | - | €62 | €16 | €1,574 | ▲ 9,737% |
| Non-recurring financial income76B | - | - | - | €1,409 | €44,282 | ▲ 3,043% |
| Financial charges65/66B | €52,272 | €69,356 | €130,913 | €192,589 | €165,368 | ▼ 14.1% |
| Recurring financial charges65 | €52,272 | €69,356 | €130,913 | €192,589 | €165,368 | ▼ 14.1% |
| Profit (loss) for the period before taxes9903 | -€329,229 | -€141,939 | -€173,389 | -€257,402 | -€190,573 | ▲ 26.0% |
| Income taxes67/77 | €24,706 | €45 | -€0 | - | - | - |
| Profit (loss) for the period9904 | -€353,935 | -€141,983 | -€173,388 | -€257,402 | -€190,573 | ▲ 26.0% |
| Profit (loss) for the period to be appropriated9905 | -€353,935 | -€141,983 | -€173,388 | -€257,402 | -€190,573 | ▲ 26.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.6m | €3.4m | €3.3m | €3.1m | €2.8m | ▼ 6.9% |
| Fixed assets21/28 | €3.0m | €3.3m | €2.8m | €2.6m | €2.7m | ▲ 2.1% |
| Intangible fixed assets21 | €56,264 | €49,640 | €43,015 | €36,391 | €29,767 | ▼ 18.2% |
| Tangible fixed assets22/27 | €3.0m | €3.3m | €2.7m | €2.6m | €2.6m | ▲ 2.4% |
| Land and buildings22 | €3.0m | €3.3m | €2.7m | €2.5m | €2.6m | ▲ 3.0% |
| Plant, machinery and equipment23 | €6,397 | €4,979 | €3,561 | €8,474 | €5,739 | ▼ 32.3% |
| Furniture and vehicles24 | €8,942 | - | €6,371 | €41,381 | €31,094 | ▼ 24.9% |
| Financial fixed assets28 | - | €1,250 | €3,250 | €1,250 | €1,250 | = |
| Current assets29/58 | €603,302 | €53,999 | €494,362 | €433,199 | €168,123 | ▼ 61.2% |
| Amounts receivable within one year40/41 | €173,378 | €51,197 | €248,477 | €46,222 | €132,950 | ▲ 188% |
| Trade receivables40 | €159,503 | €51,197 | €223,786 | €22,622 | €105,833 | ▲ 368% |
| Other amounts receivable41 | €13,875 | - | €24,690 | €23,599 | €27,117 | ▲ 14.9% |
| Cash at bank and in hand54/58 | €426,770 | €1,271 | €243,594 | €309,472 | €31,222 | ▼ 89.9% |
| Deferred charges and accrued income490/1 | €3,153 | €1,531 | €2,292 | €77,506 | €3,951 | ▼ 94.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.6m | €3.4m | €3.3m | €3.1m | €2.8m | ▼ 6.9% |
| Equity10/15 | -€544,123 | -€686,106 | -€859,495 | -€1.1m | -€1.3m | ▼ 17.1% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €91,156 | €91,156 | €91,156 | €91,156 | €91,156 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €84,956 | €84,956 | €84,956 | €84,956 | €84,956 | = |
| Profit (loss) carried forward14 | -€697,279 | -€839,263 | -€1.0m | -€1.3m | -€1.5m | ▼ 15.0% |
| Amounts payable17/49 | €4.2m | €4.1m | €4.1m | €4.2m | €4.2m | ▼ 0.5% |
| Amounts payable after more than one year17 | €3.4m | €3.6m | €3.5m | €3.5m | €3.4m | ▼ 2.5% |
| Financial debts170/4 | €3.4m | €3.6m | €3.5m | €3.5m | €3.4m | ▼ 2.5% |
| Amounts payable within one year42/48 | €308,236 | €377,063 | €513,120 | €687,456 | €655,163 | ▼ 4.7% |
| Current portion of amounts payable after more than one year42 | €6,349 | - | - | - | - | - |
| Trade debts44 | €119 | €381 | €16,498 | €5,193 | €16,416 | ▲ 216% |
| Suppliers440/4 | €119 | €381 | €16,498 | €5,193 | €16,416 | ▲ 216% |
| Taxes, remuneration and social security45 | €300,918 | €361,920 | €494,972 | €678,413 | €634,897 | ▼ 6.4% |
| Taxes450/3 | €288 | €45 | - | €245 | €504 | ▲ 106% |
| Remuneration and social security454/9 | €300,629 | €361,875 | €494,972 | €678,168 | €634,393 | ▼ 6.5% |
| Other amounts payable47/48 | €850 | €14,763 | €1,650 | €3,850 | €3,850 | = |
| Accrued charges and deferred income492/3 | €424,127 | €82,270 | €151,627 | €22,465 | €120,548 | ▲ 437% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€353,935 | -€141,983 | -€173,388 | -€257,402 | -€190,573 | ▲ 26.0% |
| + Depreciation and write-downs630 | €22,728 | €13,997 | €14,345 | €27,235 | €30,410 | ▲ 11.7% |
| Operating cash flow (approximation) | -€331,207 | -€127,986 | -€159,043 | -€230,167 | -€160,163 | ▲ 30.4% |
| Investment in fixed assets (approximation) | - | -€336,287 | €543,992 | €133,830 | -€85,704 | ▼ 164% |
| Change in cash | - | -€425,499 | €242,322 | €65,878 | -€278,250 | ▼ 522% |
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
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 97 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 120 days late
2024
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
14-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 137 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 123 days late
2021
30-09
Financial
Weakest financial yearnet -€353,935
Net result drops to -€353,935, the lowest in the series; recovery starts the following year.
25-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 33 days late
2019
30-09
Financial
Back to profitnet €33,524
Net result €33,524 after one loss-making year.
02-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 8 days late
2017
11-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 11 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Zedelgem · 1 establishment unit since 2000
Ground area
3,409 m²
Building footprint
510 m²
Volume, LiDAR
3,043 m³
Parcel 31017C0456/00E000, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rijselsestraat 37, 8210 Zedelgem
since 20002.116.029.066
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31017C0456/00E000 | Flanders | 3,409 m² | 1 · 509 m² | 9.9 m · 2 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-09-2021 list no shareholders, and no other source names one.
Holdings 1
-
99.99%
According to the annual accounts to 30-09-2021 of ADBROCON and those 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded11-08-2000
Fiscal year end30-09
Activities, NACEBEL 2025
64210Activities of holding companies
68322Real estate appraisal on a fee or contract basis
68321Property management for co-owned buildings (syndics)
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0472580535
Also
9925:BE0472580535
Registered
21-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.