ADECON
ActiveSummary
ADECON has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.2m and a net result of €915,362. Equity is growing by ~3.5% per year across the filed fiscal years. Its solvency ranks better than 94% of 7868 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▼-4
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €800,000 at 30 days acceptable
Liquidity ample (current ratio 7.28 against 4.3 in 2024; short-term debt: 10.6% and cash: 15.9% of total assets), and 10.6% 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+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
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
89.4%
Return on assets
8%
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 15-06-2026, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
65 d early
2023
50 d early
2022
42 d early
2021
68 d early
2020
46 d early
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 51 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#1 company by total assets in Evergem, Construction sector#1 company by equity in Evergem, Construction sector#8 employer in Evergem, Construction sector
Equity
€10.2m▲ 9.8%
2024 · €9.3m
Total assets
€11.4m=
2024 · €11.4m
Net result
€915,362▼ 31.7%
2024 · €1.3m
Working capital
€7.6m▲ 8.8%
2024 · €7.0m
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€2.1m▲ 108%€1.9m▼ 5.4%€1.6m▼ 18.0%€1.8m▲ 15.1%€1.2m▼ 35.7%
Net result€1.5m▲ 96.2%€1.4m▼ 6.9%€1.1m▼ 16.4%€1.3m▲ 16.8%€915,362▼ 31.7%
Equity€10.0m▲ 10.8%€9.1m▼ 9.2%€8.9m▼ 2.2%€9.3m▲ 4.7%€10.2m▲ 9.8%
Total assets€11.2m▲ 12.0%€10.1m▼ 9.1%€11.4m▲ 12.8%€11.4m▼ 0.1%€11.4m=
Debt€1.1m▲ 25.0%€1.1m▼ 7.7%€2.6m▲ 141%€2.1m▼ 16.9%€1.2m▼ 42.9%
Working capital€8.7m▲ 13.4%€7.2m▼ 16.3%€6.5m▼ 10.0%€7.0m▲ 7.3%€7.6m▲ 8.8%
Staff (FTE)14.3▲ 9.2%16.1▲ 12.6%15.2▼ 5.6%15.6▲ 2.6%16▲ 2.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 36% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.4m
Fixed assets
€2.6m ▲ 12.9%
Current assets
€8.8m ▼ 3.2%
Equity and liabilities €11.4m
Equity
€10.2m ▲ 9.8%
Provisions
€126 ▼ 89.9%
Debt
€1.2m ▼ 42.9%
Debt's share of the balance-sheet total falls from 18.6% to 10.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.0m▼
2024 · €2.6m
Cash flow
€1.7m▼
2024 · €2.1m
Current ratio
7.28▲
2024 · 4.30
Quick ratio
7.22▲
2024 · 4.26
Debt to equity
0.12▼
2024 · 0.23
ROE
9.0%▼
2024 · 14.4%
ROA
8.0%▼
2024 · 11.7%
Interest coverage
1710.96▼
2024 · 2428.96
Debt ≤ 1 year
€1.2m▼
2024 · €2.1m
Income taxes
€356,783▼
2024 · €583,140
Staff costs
€1.4m▲
2024 · €1.3m
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 | €154,618 | €74,000 | €18,785 | €67,250 | €78,000 | ▲ 16.0% |
| Remuneration, social security and pensions62 | €1.0m | €1.2m | €1.3m | €1.3m | €1.4m | ▲ 2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €723,720 | €419,165 | €617,789 | €786,546 | €820,723 | ▲ 4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €10,282 | €520 | €198 | €2,874 | €5,214 | ▲ 81.4% |
| Other operating charges640/8 | €27,914 | €31,846 | €27,990 | €29,427 | €26,764 | ▼ 9.0% |
| Non-recurring operating charges66A | - | €625 | €0 | - | €12,921 | - |
| Gross operating margin9900 | €3.9m | €3.6m | €3.5m | €4.0m | €3.4m | ▼ 14.5% |
| Operating profit (loss)9901 | €2.1m | €1.9m | €1.6m | €1.8m | €1.2m | ▼ 35.7% |
| Financial income75/76B | €3,017 | €5,990 | €29,932 | €83,969 | €90,075 | ▲ 7.3% |
| Recurring financial income75 | €3,017 | €5,990 | €29,932 | €83,969 | €90,075 | ▲ 7.3% |
| Financial charges65/66B | €5,763 | €22,721 | -€14,548 | €1,081 | €1,171 | ▲ 8.3% |
| Recurring financial charges65 | €5,763 | €22,721 | -€14,548 | €1,081 | €1,171 | ▲ 8.3% |
| Profit (loss) for the period before taxes9903 | €2.1m | €1.9m | €1.6m | €1.9m | €1.3m | ▼ 33.9% |
| Transfer from deferred taxes780 | €5,568 | €1,233 | €1,233 | €1,233 | €1,113 | ▼ 9.7% |
| Income taxes67/77 | €589,419 | €560,755 | €495,773 | €583,140 | €356,783 | ▼ 38.8% |
| Profit (loss) for the period9904 | €1.5m | €1.4m | €1.1m | €1.3m | €915,362 | ▼ 31.7% |
| Transfer from tax-exempt reserves789 | €11,299 | €2,935 | €2,935 | €2,935 | €2,650 | ▼ 9.7% |
| Transfer to tax-exempt reserves689 | €113,000 | €0 | €12,000 | €53,500 | €71,000 | ▲ 32.7% |
| Profit (loss) for the period to be appropriated9905 | €1.4m | €1.4m | €1.1m | €1.3m | €847,012 | ▼ 34.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €11.2m | €10.1m | €11.4m | €11.4m | €11.4m | = |
| Fixed assets21/28 | €1.4m | €1.8m | €2.4m | €2.3m | €2.6m | ▲ 12.9% |
| Intangible fixed assets21 | - | €17,726 | €14,098 | €10,469 | €6,840 | ▼ 34.7% |
| Tangible fixed assets22/27 | €1.4m | €1.8m | €2.3m | €2.3m | €2.6m | ▲ 13.1% |
| Land and buildings22 | €140,233 | €5,030 | €2,895 | €759 | €53 | ▼ 93.0% |
| Plant, machinery and equipment23 | €340,581 | €863,105 | €965,385 | €750,415 | €562,729 | ▼ 25.0% |
| Furniture and vehicles24 | €851,413 | €952,462 | €1.4m | €1.5m | €2.0m | ▲ 31.9% |
| Other tangible fixed assets26 | €18,722 | €0 | - | - | - | - |
| Current assets29/58 | €9.8m | €8.3m | €9.1m | €9.1m | €8.8m | ▼ 3.2% |
| Stocks and contracts in progress3 | €78,442 | €78,442 | €79,866 | €79,866 | €79,866 | = |
| Stocks30/36 | €78,442 | €78,442 | €79,866 | €79,866 | €79,866 | = |
| Amounts receivable within one year40/41 | €1.9m | €2.6m | €1.9m | €1.7m | €2.0m | ▲ 18.0% |
| Trade receivables40 | €1.5m | €2.5m | €1.7m | €1.2m | €1.5m | ▲ 22.8% |
| Other amounts receivable41 | €458,694 | €100,681 | €250,716 | €479,312 | €508,230 | ▲ 6.0% |
| Current investments50/53 | €4.0m | €4.0m | €6.0m | €6.0m | €4.9m | ▼ 18.3% |
| Cash at bank and in hand54/58 | €3.8m | €1.6m | €1.1m | €1.4m | €1.8m | ▲ 34.0% |
| Deferred charges and accrued income490/1 | €37,855 | €29,692 | €28,034 | €36,216 | €75,555 | ▲ 109% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €11.2m | €10.1m | €11.4m | €11.4m | €11.4m | = |
| Equity10/15 | €10.0m | €9.1m | €8.9m | €9.3m | €10.2m | ▲ 9.8% |
| Contributions10/11 | €24,789 | €19,107 | €19,107 | €19,107 | €19,107 | = |
| Reserves13 | €6.8m | €6.6m | €6.4m | €6.8m | €7.7m | ▲ 13.4% |
| Non-distributable reserves130/1 | €2,479 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €2,479 | €0 | - | - | - | - |
| Tax-exempt reserves132 | €406,267 | €312,515 | €321,581 | €372,146 | €440,496 | ▲ 18.4% |
| Distributable reserves133 | €6.4m | €6.3m | €6.1m | €6.4m | €7.3m | ▲ 13.1% |
| Profit (loss) carried forward14 | €3.2m | €2.5m | €2.5m | €2.5m | €2.5m | ▲ 0.3% |
| Provisions and deferred taxes16 | €9,398 | €3,704 | €2,472 | €1,239 | €126 | ▼ 89.9% |
| Deferred taxes168 | €9,398 | €3,704 | €2,472 | €1,239 | €126 | ▼ 89.9% |
| Amounts payable17/49 | €1.1m | €1.1m | €2.6m | €2.1m | €1.2m | ▼ 42.9% |
| Amounts payable within one year42/48 | €1.1m | €1.1m | €2.6m | €2.1m | €1.2m | ▼ 42.9% |
| Trade debts44 | €499,611 | €850,753 | €1.1m | €950,908 | €991,517 | ▲ 4.3% |
| Suppliers440/4 | €499,611 | €850,753 | €1.1m | €950,908 | €991,517 | ▲ 4.3% |
| Taxes, remuneration and social security45 | €148,679 | €209,274 | €121,345 | €249,286 | €221,094 | ▼ 11.3% |
| Taxes450/3 | €135,000 | €192,567 | €113,242 | €240,002 | €211,500 | ▼ 11.9% |
| Remuneration and social security454/9 | €13,679 | €16,707 | €8,103 | €9,284 | €9,594 | ▲ 3.3% |
| Other amounts payable47/48 | €500,000 | €0 | €1.3m | €924,937 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €367 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.5m | €1.4m | €1.1m | €1.3m | €915,362 | ▼ 31.7% |
| + Depreciation and write-downs630 | €723,720 | €419,165 | €617,789 | €786,546 | €820,723 | ▲ 4.3% |
| Operating cash flow (approximation) | €2.2m | €1.8m | €1.8m | €2.1m | €1.7m | ▼ 18.4% |
| Investment in fixed assets (approximation) | - | -€906,540 | -€1.1m | -€722,151 | -€1.1m | ▼ 54.8% |
| Change in cash | - | -€2.1m | -€573,256 | €291,157 | €460,684 | ▲ 58.2% |
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
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €10mEq €10.2m ▲9.8%
8 profitable years in a row build equity to €10.2m.
27-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
24-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €10mEq €10.0m ▲10.8%
4 profitable years in a row build equity to €10.0m.
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €751,628 ▼54.6%
Net result drops to €751,628, the lowest in the series; recovery starts the following year.
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €1.7m ▲33.2%
Operating result €2.5m, net result €1.7m, both a record.
31-12
Financial
Liquidity doublescurrent ratio 10.71
Current ratio from 5.15 to 10.71; short-term debt falls from €1.1m to €704,500.
Show earlier events
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
28-06
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 7 acts read
About the unread acts
We know of 7 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
7 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, Evergem · 1 establishment unit since 1989
Ground area
1.3 ha
Building footprint
1,826 m²
Volume, LiDAR
14,151 m³
Parcel 44019B0556/00A000, Flanders · tallest building 9.1 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ADECON
since 19892.045.434.842
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44019B0556/00A000 | Flanders | 1.3 ha | 1 · 1,826 m² | 9.1 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 12,839 EUR awarded · 12,663 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,504 EUR | 1,154 EUR |
| 2024 | 1 | 1,280 EUR | 1,673 EUR |
| 2023 | 2 | 4,147 EUR | 5,504 EUR |
| 2022 | 2 | 5,908 EUR | 4,332 EUR |
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Of 4,093 companies in sector 43240 we hold annual accounts for 1,634. 104 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
Founded04-10-1989
Fiscal year end31-12
Activities, NACEBEL 2025
38330Waste collection, recovery and disposal activities
43240Other construction installation
Contact
Phone
09/257 11 22Evergem
Scores and ratios are computed by Checked and are not a credit decision.