ADCOR
ActiveSummary
ADCOR has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €183,288 and a net result of €44,951. Its solvency ranks better than 21% of 10,818 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 07-02-2023 Normal situation
- Activity
- Business and other management consultancy NACE 70200
- Establishment unit
- 2.341.719.362 1000 Brussel, since 07-02-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 22-12-2025
Board and ownership
- CORTHOUTS Adrien Philippe BenoitDirector
- Ascor BVDirector · since 01-07-2025
- Holdings
- Shares in 2 companies SITAL INVEST and GEACOR
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- €74,678
- ▼ 60.2%
- Turnover
- ≈ €150,000
- estimated
- Profit
- €44,951
- ▼ 67.7%
- Equity
- €183,288
- ▲ 31.7%
- Total assets
- €1.1m
- ▲ 6.7%
Score breakdownraises riskLiquidity: current ratio 1.12, cash €4,299, halvedlowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Size: total assets €1.1mFigures for financial year 2025 (filed on 07-07-2026)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 22% of them on solvency, 4% on liquidity, 22% on profitability and 73% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 2 accounts on average 2 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 07-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is 60% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €4,200 | €3,955 |
| Financial fixed assets | €95,175 | €0 |
| Depreciation and write-downs of the year | €1,333 | €1,068 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,333 | €1,068 | ▼ 19.9% |
| Other operating charges640/8 | €772 | €0 | ▼ 100% |
| Gross operating margin9900 | €187,728 | €74,678 | ▼ 60.2% |
| Operating profit (loss)9901 | €185,623 | €73,610 | ▼ 60.3% |
| Financial income75/76B | €13,328 | €18,346 | ▲ 37.6% |
| Recurring financial income75 | €13,328 | €18,346 | ▲ 37.6% |
| Financial charges65/66B | €11,482 | €29,548 | ▲ 157% |
| Recurring financial charges65 | €11,482 | €29,548 | ▲ 157% |
| Profit (loss) for the period before taxes9903 | €187,469 | €62,408 | ▼ 66.7% |
| Income taxes67/77 | €48,400 | €17,457 | ▼ 63.9% |
| Profit (loss) for the period9904 | €139,069 | €44,951 | ▼ 67.7% |
| Profit (loss) for the period to be appropriated9905 | €139,069 | €44,951 | ▼ 67.7% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €1.0m | €1.1m | ▲ 6.7% |
| Fixed assets21/28 | €0.09m | €0.09m | ▲ 3.3% |
| Tangible fixed assets22/27 | €0.004m | €0.007m | ▲ 77.6% |
| Furniture and vehicles24 | €0.004m | €0.007m | ▲ 77.6% |
| Financial fixed assets28 | €0.08m | €0.08m | = |
| Current assets29/58 | €0.9m | €1.0m | ▲ 7.0% |
| Amounts receivable after more than one year29 | €0.7m | €0.7m | = |
| Other amounts receivable291 | €0.7m | €0.7m | = |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | ▲ 76.9% |
| Trade receivables40 | €0.02m | €0.1m | ▲ 426% |
| Other amounts receivable41 | €0.1m | €0.2m | ▲ 30.5% |
| Current investments50/53 | €0.07m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.02m | €0.004m | ▼ 73.2% |
| Deferred charges and accrued income490/1 | €0.01m | €0.03m | ▲ 134% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €1.0m | €1.1m | ▲ 6.7% |
| Equity10/15 | €0.1m | €0.2m | ▲ 31.7% |
| Contributions10/11 | €100 | €100 | = |
| Reserves13 | €0.1m | €0.2m | ▲ 31.7% |
| Distributable reserves133 | €0.1m | €0.2m | ▲ 31.7% |
| Profit (loss) carried forward14 | - | €0 | - |
| Amounts payable17/49 | €0.9m | €0.9m | ▲ 2.7% |
| Amounts payable within one year42/48 | €0.9m | €0.9m | ▲ 2.6% |
| Trade debts44 | €357 | €0.01m | ▲ 31× |
| Suppliers440/4 | €357 | €0.01m | ▲ 31× |
| Taxes, remuneration and social security45 | €0.05m | €0.05m | ▼ 10.4% |
| Taxes450/3 | €0.05m | €0.05m | ▼ 9.1% |
| Remuneration and social security454/9 | €0.001m | €0 | ▼ 100% |
| Other amounts payable47/48 | €0.8m | €0.8m | ▲ 2.2% |
| Accrued charges and deferred income492/3 | €0.01m | €0.01m | ▲ 3.4% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €139,069 | €44,951 | ▼ 67.7% |
| + Depreciation and write-downs630 | €1,333 | €1,068 | ▼ 19.9% |
| Operating cash flow (approximation) | €140,402 | €46,019 | ▼ 67.2% |
| Investment in fixed assets (approximation) | - | -€3,955 | - |
| Change in cash | - | -€11,772 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 896 companies had the same profile as ADCOR has now. Two years later, 98.1% were still going and 1.1% had gone bankrupt.
- Small
- 2 to 5 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ADCOR itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 896 companies, not a prediction for ADCOR. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Owners and capital
Shareholders
- CORTHOUTS Adrien Philippe Benoit sole founder · 100% at incorporation
Capital transactions
- 09-02-2023 Incorporation · €100 · 100 shares
Mandate history
- Board
- end not dated
| Name | Functions and periods |
|---|---|
| CORTHOUTS Adrien Philippe Benoit |
|
| Ascor BV |
|
| CORTHOUTS Philippe |
|
Network & group
Holdings and subsidiaries
2 holdingsHoldings 2
Source for every holding own accounts 2025
- Equity -€91,972 Loss of €251,627 in 2025 (profit of €9,655 in 2024)45%
- Equity -€32,259 Loss of €93,759 in 202525%
Board mandates elsewhere
8 board mandatesShow 2 more
Companies at the same address
6 other companies- Alix Aspeslagh Registered office · since 2021 0773427124
- LABAZ PROD Establishment · since 2019 0737898893
- AsCor Registered office · since 2016 0661720736
- ASSOCIATION DES COPROPRIETAIRES - rue de l'Aurore, 19 à 1000 - Bruxelles Registered office · since 2000 0819541815
- BELGE ET FIER DE L'ETRE Registered office · since 1985 0430470954
- Temps Libre Registered office · since 1981 0422441235
Connections & network
2 current directorsThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
09-02
Gazette deed
IncorporationStarting capital €100 · Appointments: CORTHOUTS Adrien Philippe Benoit (statutory director) and CORTHOUTS Philippe (statutory director) · Founder5 points ▸
- Incorporation, 06-02-2023
- Founder, CORTHOUTS Adrien Philippe Benoit
- Founding capital, €100
- Director appointment, CORTHOUTS Adrien Philippe Benoit (statutory director)
- Director appointment, CORTHOUTS Philippe (statutory director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21807G0218/00M012 | Brussels | 273 m² | 1 · 129 m² | 19.3 m · 6 |