ADELAAR
ActiveADELAAR has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-44k) and a net result of €-4k. Equity is shrinking by ~53.2% per year across the filed fiscal years. Its solvency ranks better than 5% of 9098 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
18
/ 100
Critical▲ +1 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability40▼-60
Solvency33=
Growth32=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.48 against 0.22 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-109.4%
Return on assets
-8.8%
Age of the figures
14 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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 · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€44k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-01-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
2 d early
2023
1 d late
2022
on the day
2021
on the day
2020
23 d late
2019
43 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close14-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€-44k▼ 8.7%
2024 · €-40k
2019: €9k
2020: €8k
2021: €5k
2022: €-19k
2023: €-23k
2024: €-40k
2019 → 2025
Total assets
€40k▲ 250%
2024 · €11k
2019: €39k
2020: €37k
2021: €37k
2022: €40k
2023: €13k
2024: €11k
2019 → 2025
Net result
€-4k▲ 79.6%
2024 · €-17k
2019: €-750
2020: €-931
2021: €-3k
2022: €-24k
2023: €-4k
2024: €-17k
2019 → 2025
Working capital
€-44k▼ 8.7%
2024 · €-40k
2019: €9k
2020: €8k
2021: €5k
2022: €-19k
2023: €-23k
2024: €-40k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€5k-€-19k€-23k▼ 18.8%€-40k▼ 74.6%€-44k▼ 8.7%
Operating result€-3k-€-24k▼ 666%€-3k▲ 85.7%€-17k▼ 398%€-3k▲ 80.9%
Net result€-3k-€-24k▼ 618%€-4k▲ 84.8%€-17k▼ 371%€-4k▲ 79.6%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3k in 2025 against €17k in 2024; the loss shrinks.
Key figures and ratios
Solvency
-109.4%▲
2024 · -351.7%
Current ratio
0.48▲
2024 · 0.22
Quick ratio
0.48▲
2024 · 0.22
Debt / equity
-1.91▼
2024 · -1.28
ROE
8.0%▼
2024 · 42.7%
ROA
-8.8%▲
2024 · -150.2%
Debt
€84k▲
2024 · €52k
Debt ≤ 1 year
€84k▲
2024 · €52k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€11k€40k▲
Current assets29/58€11k€40k▲
Amounts receivable within one year40/41€9k€37k▲
Trade receivables40€3k€29k▲
Other amounts receivable41€6k€7k▲
Cash at bank and in hand54/58€2k€3k▲
Deferred charges and accrued income490/1€262€194▼
Equity and liabilities
Total equity and liabilities10/49€11k€40k▲
Equity10/15€-40k€-44k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€433k€433k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€427k€427k=
Profit (loss) carried forward14€-536k€-539k▼
Amounts payable17/49€52k€84k▲
Amounts payable within one year42/48€52k€84k▲
Trade debts44€3k€29k▲
Suppliers440/4€3k€29k▲
Other amounts payable47/48€49k€55k▲
Income statement
Code20242025
Other operating charges640/8€568€456▼
Gross operating margin9900€-16k€-3k▲
Operating profit (loss)9901€-17k€-3k▲
Financial income75/76B€0€1▲
Recurring financial income75€0€1▲
Financial charges65/66B€351€298▼
Recurring financial charges65€351€298▼
Profit (loss) for the period before taxes9903€-17k€-4k▲
Profit (loss) for the period9904€-17k€-4k▲
Profit (loss) for the period to be appropriated9905€-17k€-4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-536k€-539k▼
Profit (loss) brought forward from the previous period14P€-518k€-536k▼
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
01-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 1 day late
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Weakest financial yearnet €-24k
Net result drops to €-24k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
23-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 23 days late
2019
19-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
17-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
29-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
11-01
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.
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, Gent · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Brabantdam 379000 GentGround area
2,036 m²
Building footprint
1,997 m²
Volume, LiDAR
23,030 m³
2 parcels, Flanders · tallest building 24.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Adelaar nv
since 20062.159.698.169
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D1769/00C000 | Flanders | 1,876 m² | 1 · 1,848 m² | 24.7 m · 3 fl. |
| 44804D3587/00F000 | Flanders | 160 m² | 1 · 149 m² | 12.7 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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DOMIR
BE 0674.596.594
Gent · Eq €5k
WAREMME DEVELOPPEMENT
BE 0879.681.914
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P. Properties
BE 0786.396.915
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CELUX
BE 1003.552.496
Knokke-Heist · Eq €5k
Of 9,635 companies in sector 68121 we hold annual accounts for 7,328. 2,093 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded02-10-2006
Fiscal year end30-06
Activities, NACEBEL
68121Development of residential building projects
70111
68110Buying and selling of own real estate
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
70120
70201
70203
70321
81100Combined facilities support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.