ADCON
ActiveSummary
ADCON has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.17M and a net result of €9k. Equity is growing by ~4.4% per year across the filed fiscal years. Its solvency ranks better than 75% of 425 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69=
Solvency86=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160k at 30 days acceptable
Liquidity short (current ratio 0.85 against 0.94 in 2024; short-term debt: 11.1% and cash: 2.1% of total assets), and 38.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
61.3%
Return on assets
0.3%
Age of the figures
9 mo
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
29 d early
2023
7 d late
2022
42 d early
2021
53 d early
2020
54 d late
2019
31 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€9k▲ 131%
2024 · €4k
Working capital
€-60k▼ 191%
2024 · €-20k
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€219k-€50k▼ 77.2%€74k▲ 48.1%€32k▼ 56.9%€11k▼ 64.6%
Net result€218k-€51k▼ 76.6%€99k▲ 94.2%€4k▼ 96.0%€9k▲ 131%
Equity€2.04M-€2.08M▲ 2.1%€2.17M▲ 4.4%€2.17M▼ 0.2%€2.17M▲ 0.1%
Total assets€3.35M-€3.19M▼ 4.8%€3.29M▲ 3.3%€3.57M▲ 8.5%€3.53M▼ 1.2%
Debt€1.03M-€861k▼ 16.6%€897k▲ 4.2%€1.19M▲ 32.7%€1.16M▼ 2.7%
Working capital€514k-€307k▼ 40.3%€25k▼ 92.0%€-20k€-60k▼ 191%
Staff (FTE)2-2=2=2=2.5▲ 25.0%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 65% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.53M
Fixed assets
€3.20M ▼ 0.8%
Current assets
€332k ▼ 4.3%
Equity and liabilities €3.53M
Equity
€2.17M ▲ 0.1%
Provisions
€207k ▼ 4.7%
Debt
€1.16M ▼ 2.7%
Debt's share of the balance-sheet total falls from 33.3% to 32.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€432k▲
2024 · €397k
Cash flow
€430k▲
2024 · €369k
Current ratio
0.85▼
2024 · 0.94
Quick ratio
0.83▼
2024 · 0.94
Debt to equity
0.53▼
2024 · 0.55
ROE
0.4%▲
2024 · 0.2%
ROA
0.3%▲
2024 · 0.1%
Interest coverage
14.09▼
2024 · 14.24
Debt ≤ 1 year
€391k▲
2024 · €367k
Debt > 1 year
€701k▼
2024 · €723k
Income taxes
€2k▼
2024 · €63k
Staff costs
€92k▲
2024 · €80k
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 | €11k | - | - | - | - | - |
| Remuneration, social security and pensions62 | €49k | €63k | €68k | €80k | €92k | ▲ 15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €294k | €309k | €334k | €365k | €421k | ▲ 15.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €-20k | €-11k | - | - | - |
| Other operating charges640/8 | €4k | €6k | €5k | €47k | €8k | ▼ 83.3% |
| Non-recurring operating charges66A | - | €31k | - | - | - | - |
| Gross operating margin9900 | €566k | €440k | €470k | €524k | €533k | ▲ 1.7% |
| Operating profit (loss)9901 | €219k | €50k | €74k | €32k | €11k | ▼ 64.6% |
| Financial income75/76B | €19k | €17k | €61k | €53k | €21k | ▼ 60.7% |
| Recurring financial income75 | €19k | €17k | €27k | €53k | €18k | ▼ 66.7% |
| Non-recurring financial income76B | - | €185 | €34k | - | €3k | - |
| Financial charges65/66B | €17k | €18k | €18k | €28k | €31k | ▲ 10.1% |
| Recurring financial charges65 | €17k | €18k | €17k | €28k | €31k | ▲ 10.1% |
| Non-recurring financial charges66B | - | - | €959 | - | - | - |
| Profit (loss) for the period before taxes9903 | €220k | €49k | €117k | €57k | €1k | ▼ 97.8% |
| Transfer from deferred taxes780 | €11k | €13k | €10k | €10k | €10k | ▼ 1.9% |
| Income taxes67/77 | €13k | €11k | €28k | €63k | €2k | ▼ 96.5% |
| Profit (loss) for the period9904 | €218k | €51k | €99k | €4k | €9k | ▲ 131% |
| Transfer from tax-exempt reserves789 | €33k | €40k | €31k | €31k | €30k | ▼ 1.9% |
| Profit (loss) for the period to be appropriated9905 | €251k | €91k | €131k | €35k | €40k | ▲ 13.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.35M | €3.19M | €3.29M | €3.57M | €3.53M | ▼ 1.2% |
| Fixed assets21/28 | €2.56M | €2.63M | €2.99M | €3.23M | €3.20M | ▼ 0.8% |
| Tangible fixed assets22/27 | €2.55M | €2.62M | €2.97M | €3.21M | €3.18M | ▼ 0.8% |
| Land and buildings22 | €2.43M | €2.50M | €2.67M | €2.89M | €2.74M | ▼ 5.4% |
| Plant, machinery and equipment23 | €114k | €104k | €282k | €271k | €304k | ▲ 12.0% |
| Furniture and vehicles24 | €1k | €19k | €17k | €18k | €16k | ▼ 12.9% |
| Other tangible fixed assets26 | €6k | €1k | €0 | €30k | €128k | ▲ 328% |
| Financial fixed assets28 | €9k | €9k | €15k | €15k | €16k | ▲ 3.2% |
| Current assets29/58 | €794k | €555k | €308k | €347k | €332k | ▼ 4.3% |
| Amounts receivable after more than one year29 | €313k | €186k | €165k | €73k | €62k | ▼ 14.7% |
| Other amounts receivable291 | €313k | €186k | €165k | €73k | €62k | ▼ 14.7% |
| Stocks and contracts in progress3 | - | €100 | - | - | €6k | - |
| Stocks30/36 | - | €100 | - | - | €6k | - |
| Amounts receivable within one year40/41 | €275k | €178k | €78k | €132k | €187k | ▲ 42.0% |
| Trade receivables40 | €158k | €88k | €44k | €97k | €187k | ▲ 92.5% |
| Other amounts receivable41 | €117k | €89k | €33k | €35k | - | - |
| Cash at bank and in hand54/58 | €205k | €190k | €62k | €136k | €75k | ▼ 45.4% |
| Deferred charges and accrued income490/1 | €1k | €2k | €4k | €6k | €2k | ▼ 62.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.35M | €3.19M | €3.29M | €3.57M | €3.53M | ▼ 1.2% |
| Equity10/15 | €2.04M | €2.08M | €2.17M | €2.17M | €2.17M | ▲ 0.1% |
| Contributions10/11 | €837k | €837k | €837k | €837k | €837k | = |
| Capital10 | €837k | €837k | - | - | €837k | - |
| Issued capital100 | €837k | €837k | - | - | €837k | - |
| Reserves13 | €567k | €527k | €496k | €465k | €434k | ▼ 6.5% |
| Non-distributable reserves130/1 | €89k | €89k | €89k | €89k | €89k | = |
| Legal reserve130 | €89k | €89k | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €89k | €89k | €89k | = |
| Tax-exempt reserves132 | €478k | €438k | €407k | €376k | €346k | ▼ 8.1% |
| Profit (loss) carried forward14 | €582k | €674k | €804k | €839k | €879k | ▲ 4.7% |
| Investment grants15 | €49k | €40k | €32k | €24k | €16k | ▼ 33.2% |
| Provisions and deferred taxes16 | €283k | €250k | €228k | €218k | €207k | ▼ 4.7% |
| Provisions for liabilities and charges160/5 | €31k | €11k | - | - | - | - |
| Pensions and similar obligations160 | €31k | €11k | - | - | - | - |
| Deferred taxes168 | €252k | €238k | €228k | €218k | €207k | ▼ 4.7% |
| Amounts payable17/49 | €1.03M | €861k | €897k | €1.19M | €1.16M | ▼ 2.7% |
| Amounts payable after more than one year17 | €656k | €505k | €510k | €723k | €701k | ▼ 3.1% |
| Financial debts170/4 | €650k | €494k | €510k | €723k | €701k | ▼ 3.1% |
| Other amounts payable178/9 | €6k | €10k | - | - | - | - |
| Amounts payable within one year42/48 | €280k | €249k | €284k | €367k | €391k | ▲ 6.6% |
| Current portion of amounts payable after more than one year42 | €165k | €156k | €198k | €217k | €221k | ▲ 1.4% |
| Trade debts44 | €86k | €44k | €23k | €66k | €33k | ▼ 50.3% |
| Suppliers440/4 | €86k | €44k | €23k | €66k | €33k | ▼ 50.3% |
| Advances received on contracts in progress46 | €11k | €11k | €5k | €26k | €106k | ▲ 306% |
| Taxes, remuneration and social security45 | €16k | €37k | €56k | €55k | €27k | ▼ 51.4% |
| Taxes450/3 | €10k | €28k | €47k | €45k | €23k | ▼ 49.4% |
| Remuneration and social security454/9 | €6k | €9k | €9k | €10k | €4k | ▼ 60.3% |
| Other amounts payable47/48 | €2k | €348 | €2k | €2k | €5k | ▲ 114% |
| Accrued charges and deferred income492/3 | €96k | €108k | €104k | €101k | €67k | ▼ 33.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €218k | €51k | €99k | €4k | €9k | ▲ 131% |
| + Depreciation and write-downs630 | €294k | €309k | €334k | €365k | €421k | ▲ 15.3% |
| Operating cash flow (approximation) | €513k | €361k | €433k | €369k | €430k | ▲ 16.6% |
| Investment in fixed assets (approximation) | - | €-386k | €-687k | €-606k | €-395k | ▲ 34.8% |
| Change in cash | - | €-15k | €-128k | €74k | €-62k | ▼ 183% |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 7 days late
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €218k
Net result €218k after 2 loss-making years.
31-12
Financial
Equity above €2MEq €2.04M ▲38.8%
Equity rises from €1.47M to €2.04M.
23-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 54 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Liquidity triplescurrent ratio 2.70
Current ratio from 0.98 to 2.70; short-term debt falls from €307k to €205k.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 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
11 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, Sint-Katelijne-Waver · 1 establishment unit since 1991
Ground area
2.7 ha
Building footprint
9,213 m²
Volume, LiDAR
74,231 m³
Parcel 12035B0617/00B003, Flanders · tallest building 12.3 m, ±3 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
ADCON
since 19912.054.536.313
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12035B0617/00B003 | Flanders | 2.7 ha | 1 · 9,213 m² | 12.3 m · 3 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 3,294 companies in sector 93110 we hold annual accounts for 1,496. 652 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
Founded06-05-1991
Fiscal year end31-12
Activities, NACEBEL 2025
93110Operation of sports facilities
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
82100Office administrative and support services
93199Other sports activities
93293Sports, amusement and recreation activities
Scores and ratios are computed by Checked and are not a credit decision.