ADCO
ActiveSummary
ADCO has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€255,141) and a net result of €48,176. Equity is growing by ~10.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 7833 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.57 against 0.96 in 2024; short-term debt: 15.8% and cash: 2.5% of total assets), and equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer 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
-199.7%
Return on assets
37.7%
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 5% of 7833 sector peers (2025).
NBB · sector comparisonPosition among 7833 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
29 d early
2023
27 d early
2022
32 d early
2021
24 d early
2020
23 d early
2019
22 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 27 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
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. Usually files around 2 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€255,141▲ 15.9%
2024 · -€303,317
Total assets
€127,788▲ 386%
2024 · €26,300
Net result
€48,176▼ 30.7%
2024 · €69,566
Working capital
-€8,641▼ 2,660%
2024 · -€313
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€34,941▼ 6.7%€32,254▼ 7.7%€70,588▲ 119%€69,829▼ 1.1%€50,218▼ 28.1%
Net result€34,125within the sector's middle half▼ 5.8%€31,463within the sector's middle half▼ 7.8%€70,148above the sector's middle half▲ 123%€69,566above the sector's middle half▼ 0.8%€48,176above the sector's middle half▼ 30.7%
Equity-€474,494below the sector's middle half▲ 6.7%-€443,031below the sector's middle half▲ 6.6%-€372,883below the sector's middle half▲ 15.8%-€303,317below the sector's middle half▲ 18.7%-€255,141below the sector's middle half▲ 15.9%
Total assets€20,387below the sector's middle half▼ 28.1%€10,548below the sector's middle half▼ 48.3%€7,819below the sector's middle half▼ 25.9%€26,300below the sector's middle half▲ 236%€127,788within the sector's middle half▲ 386%
Debt€494,881▼ 7.8%€453,579▼ 8.3%€380,702▼ 16.1%€329,617▼ 13.4%€382,929▲ 16.2%
Working capital-€13,906below the sector's middle half▲ 66.9%-€12,795below the sector's middle half▲ 8.0%-€728within the sector's middle half▲ 94.3%-€313within the sector's middle half▲ 57.0%-€8,641below the sector's middle half▼ 2,660%
Solvency-199.7%below the sector's middle half
Current ratio0.34below the sector's middle half▲ 0.210.31below the sector's middle half▼ 0.030.87below the sector's middle half▲ 0.560.96within the sector's middle half▲ 0.090.57below the sector's middle half▼ 0.39
Return on assets (ROA)167.4%above the sector's middle half▲ 39.7pp298.3%above the sector's middle half▲ 130.9pp897.2%above the sector's middle half▲ 598.9pp264.5%above the sector's middle half▼ 632.7pp37.7%above the sector's middle half▼ 226.8pp
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, 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 28% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €127,788
Fixed assets
€116,227 ▲ 512%
Current assets
€11,561 ▲ 58.3%
Key figures and ratios
EBITDA
€57,427▼
2024 · €72,452
Cash flow
€55,386▼
2024 · €72,189
Debt to equity
-1.50▼
2024 · -1.09
Interest coverage
28.12▼
2024 · 276.02
Debt ≤ 1 year
€20,202▲
2024 · €7,617
Debt > 1 year
€362,726▲
2024 · €322,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 3,798 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €20,248 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,178 | €9,194 | €1,920 | €2,623 | €7,209 | ▲ 175% |
| Other operating charges640/8 | €182 | €122 | €132 | €141 | €1,144 | ▲ 714% |
| Gross operating margin9900 | €44,300 | €41,569 | €72,639 | €72,592 | €58,572 | ▼ 19.3% |
| Operating profit (loss)9901 | €34,941 | €32,254 | €70,588 | €69,829 | €50,218 | ▼ 28.1% |
| Financial income75/76B | - | €0 | - | - | €0 | - |
| Recurring financial income75 | - | €0 | - | - | €0 | - |
| Financial charges65/66B | €636 | €610 | €359 | €262 | €2,042 | ▲ 678% |
| Recurring financial charges65 | €636 | €610 | €359 | €262 | €2,042 | ▲ 678% |
| Profit (loss) for the period before taxes9903 | €34,305 | €31,644 | €70,229 | €69,566 | €48,176 | ▼ 30.7% |
| Income taxes67/77 | €180 | €181 | €81 | - | - | - |
| Profit (loss) for the period9904 | €34,125 | €31,463 | €70,148 | €69,566 | €48,176 | ▼ 30.7% |
| Profit (loss) for the period to be appropriated9905 | €34,125 | €31,463 | €70,148 | €69,566 | €48,176 | ▼ 30.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €20,387 | €10,548 | €7,819 | €26,300 | €127,788 | ▲ 386% |
| Fixed assets21/28 | €13,338 | €4,764 | €2,845 | €18,996 | €116,227 | ▲ 512% |
| Tangible fixed assets22/27 | €13,338 | €4,764 | €2,845 | €18,996 | €116,227 | ▲ 512% |
| Land and buildings22 | - | - | - | €17,660 | €114,326 | ▲ 547% |
| Plant, machinery and equipment23 | - | €491 | €284 | €489 | €246 | ▼ 49.6% |
| Furniture and vehicles24 | €13,338 | €4,273 | €2,560 | €847 | €1,655 | ▲ 95.3% |
| Current assets29/58 | €7,049 | €5,784 | €4,974 | €7,304 | €11,561 | ▲ 58.3% |
| Amounts receivable within one year40/41 | €5,222 | €5,747 | €4,811 | €6,595 | €7,981 | ▲ 21.0% |
| Trade receivables40 | €5,222 | €5,747 | €4,811 | €6,595 | €7,981 | ▲ 21.0% |
| Cash at bank and in hand54/58 | €666 | - | €125 | €469 | €3,218 | ▲ 586% |
| Deferred charges and accrued income490/1 | €1,161 | €37 | €38 | €240 | €362 | ▲ 51.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €20,387 | €10,548 | €7,819 | €26,300 | €127,788 | ▲ 386% |
| Equity10/15 | -€474,494 | -€443,031 | -€372,883 | -€303,317 | -€255,141 | ▲ 15.9% |
| Contributions10/11 | €49,600 | €49,600 | €49,600 | €49,600 | €49,600 | = |
| Profit (loss) carried forward14 | -€524,094 | -€492,631 | -€422,483 | -€352,917 | -€304,741 | ▲ 13.7% |
| Amounts payable17/49 | €494,881 | €453,579 | €380,702 | €329,617 | €382,929 | ▲ 16.2% |
| Amounts payable after more than one year17 | €473,926 | €435,000 | €375,000 | €322,000 | €362,726 | ▲ 12.6% |
| Financial debts170/4 | €473,926 | €435,000 | €375,000 | €322,000 | €362,726 | ▲ 12.6% |
| Amounts payable within one year42/48 | €20,955 | €18,579 | €5,702 | €7,617 | €20,202 | ▲ 165% |
| Current portion of amounts payable after more than one year42 | €10,223 | €8,926 | - | - | €9,375 | - |
| Financial debts43 | €2,736 | €3,208 | - | - | - | - |
| Credit institutions430/8 | €2,736 | €3,208 | - | - | - | - |
| Trade debts44 | €2,847 | €250 | €1,053 | €453 | €4,418 | ▲ 875% |
| Suppliers440/4 | €2,847 | €250 | €1,053 | €453 | €4,418 | ▲ 875% |
| Taxes, remuneration and social security45 | €3,323 | €4,306 | €3,453 | €1,432 | €4,402 | ▲ 207% |
| Taxes450/3 | €1,824 | €2,306 | €1,953 | €1,432 | €2,402 | ▲ 67.8% |
| Remuneration and social security454/9 | €1,499 | €2,000 | €1,500 | - | €2,000 | - |
| Other amounts payable47/48 | €1,826 | €1,889 | €1,196 | €5,732 | €2,007 | ▼ 65.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,125 | €31,463 | €70,148 | €69,566 | €48,176 | ▼ 30.7% |
| + Depreciation and write-downs630 | €9,178 | €9,194 | €1,920 | €2,623 | €7,209 | ▲ 175% |
| Operating cash flow (approximation) | €43,303 | €40,656 | €72,068 | €72,189 | €55,386 | ▼ 23.3% |
| Investment in fixed assets (approximation) | - | -€620 | -€0 | -€18,775 | -€104,440 | ▼ 456% |
| Change in cash | - | - | - | €344 | €2,749 | ▲ 699% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €70,148 ▲123%
Operating result €70,588, net result €70,148, both a record.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €31,463 ▼7.8%
Net result drops to €31,463, the lowest in the series; recovery starts the following year.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · 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, Brakel · 1 establishment unit since 1997
Ground area
1,282 m²
Building footprint
19 m²
Volume, LiDAR
33 m³
Parcel 45028C0453/00Z003, Flanders · tallest building 2.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Ekeveldstraat 7, 9660 Brakel
since 19972.083.334.326
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 45028C0453/00Z003 | Flanders | 1,282 m² | 1 · 19 m² | 2.2 m · 1 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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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 11,218 companies in sector 82100 we hold annual accounts for 3,516. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-08-1997
Fiscal year end31-12
Activities, NACEBEL 2025
82100Office administrative and support services
47713Retail trade
47789Other retail sale of new goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0461230545
Also
9925:BE0461230545
Registered
25-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.