ADELAAR

Active

Public limited companyfounded 2006active for 20 yearsBrabantdam 37, 9000 Gent, Belgium24 active companies are registered at this addressKBO/BCE: BE 0883.935.066

From the official registers: KBO 18 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

ADELAAR has been active since 2006 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€43,892) and a net result of -€3,523. Equity has been shrinking by about 53% per year since 2019. Its solvency ranks better than 5% of 11,235 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

Risk analysisFollow Report Compare

ADELAARActiveChecked score 53/100

Risk analysis Report Compare

Official details

KBO

Status: Active since 02-10-2006 Normal situation
Legal form: Public limited company
Registered office: Brabantdam 37, 9000 Gent
Activity: Development of residential building projects NACE 68121and 4 others
Establishment unit: 2.159.698.169 9000 Gent, since 01-11-2006
Financial year end: 30 June
Peppol: Reachable since 21-10-2026

Company details

Board and ownership

Board

ACASA GROUP BVDirector
J.V.D. HOLDING BVDirector

Shareholders

J.V.D. Holding50%annual accounts 2025

Board & ownership

Financial position

53 Fair Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.6%

Annual accounts to 30-06-2025

Gross margin: -€2,770; ▲ 83.0%
Loss: €3,523; ▼ 79.6%
Equity: -€43,892; ▼ 8.7%
Total assets: €40,139; ▲ 250%

Turnover not published (abbreviated format)2025 accounts filed 4 days before the deadline

Filed on 27-01-2026PDF

Financials

Score breakdownraises riskCapped at 59: negative equityNegative equity -€43,892Loss of €3,523, the second in a row (financial year 2025)lowers riskSize: total assets €40,139Legal form: public limited companyShow the evidence

Checked score

Score 2025

53 / 100

Fair

Probability in this band: 1.5% to 4.2%

Financially stronger than 15% of micro companies in real estate (NACE 68)

Negative equity caps the score at 59. Every signal that counts is listed under Signals.

Financial strength · tick: 2024

Weak

Solvency 0=

equity -109.4% of total assets

Liquidity 10-11

short-term debt 209.4% · cash 8.1%

Profitability 16+16

return on assets -8.8%

Bankruptcy probability within 12 months

0.6% Low

0%0.5%1.5%4%10%≥ 25%

About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (26,628 companies, NACE 68, micro)

Last 24 months 11-2024: 0.8% 12-2024: 0.8%● unchanged vs 11-2024 01-2025: 1.0%▲ +0.2 percentage points vs 12-2024 02-2025: 1.2%▲ +0.2 percentage points vs 01-2025highest value 03-2025: 0.5%▼ -0.7 percentage points vs 02-2025 04-2025: 0.5%● unchanged vs 03-2025 05-2025: 0.5%● unchanged vs 04-2025 06-2025: 0.5%● unchanged vs 05-2025 07-2025: 0.5%● unchanged vs 06-2025 08-2025: 0.5%● unchanged vs 07-2025 09-2025: 0.5%● unchanged vs 08-2025 10-2025: 0.5%● unchanged vs 09-2025 11-2025: 0.5%● unchanged vs 10-2025 12-2025: 0.5%● unchanged vs 11-2025lowest value 01-2026: 0.6%▲ +0.1 percentage points vs 12-2025 02-2026: 0.6%● unchanged vs 01-2026 03-2026: 0.6%● unchanged vs 02-2026 04-2026: 0.6%● unchanged vs 03-2026 05-2026: 0.6%● unchanged vs 04-2026 06-2026: 0.6%● unchanged vs 05-2026 07-2026: 0.6%● unchanged vs 06-2026 08-2026: 0.6%● unchanged vs 07-2026 09-2026: 0.6%● unchanged vs 08-2026 10-2026: 0.6%● unchanged vs 09-2026

No credit on open account

Liquidity is insufficient, with a current ratio of 0.48 (0.22 in 2024), below 1. Short-term debt is 209.4% and cash 8.1% of total assets. Equity is negative.

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 68, micro). It does better than 5% of them on solvency, 11% on liquidity, 17% on profitability and 29% on growth.

The bankruptcy probability was computed on 31-10-2026 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).

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Signals

Six signals.

lowers riskraises riskneutral

Size: total assets €40,139

Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.

NBB · annual accounts

Negative equity -€43,892

NBB · annual accounts

Loss of €3,523, the second in a row (financial year 2025)

NBB · annual accounts

Legal form: public limited company

KBO

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

Equity per financial year

19202122232425

2019 to 2025 · latest year -€43,892

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 filings

Deviation from the deadline

2025

4 days early

2024

2 days early

2023

1 day late

2022

on the day

2021

on the day

2020

23 days late

2019

43 days early

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 4 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 31 January (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

30-06-2026 year end01-11-2026 today31-01-2027 deadline

No strike-offs in the KBO publications

That holds for every publication since 2021.

KBO publications

Key points

Risk: Negative equitydebts exceed assets in financial year 2025 -€43,892 View
Risk: 7 loss-making years in a rowloss in financial year 2025 -€3,523 View
Caution: Lower solvency than 95% of companies in real estatesector median 30.8% · 11,235 companies -109.4% View

Documents

Key facts about ADELAAR

What is the company number of ADELAAR?: The company number of ADELAAR is 0883.935.066. The VAT number is the same number with BE in front: BE 0883.935.066.
Where is ADELAAR based?: The registered office is at Brabantdam 37, 9000 Gent.Company details
What does ADELAAR do?: According to the KBO register, the main activity is development of residential building projects (NACE 68121).
What is the legal form of ADELAAR?: The legal form of ADELAAR is Public limited company (NV).
When was ADELAAR founded?: ADELAAR was founded on 02-10-2006.
Is ADELAAR still active?: Yes, ADELAAR is an active enterprise in the KBO register.
What is the turnover of ADELAAR?: The annual accounts for financial year 2025 state no turnover. The abbreviated format does not require it.Financials
Is ADELAAR profitable?: In financial year 2025, ADELAAR made a loss of €3,523.
Where can I find the annual accounts of ADELAAR?: ADELAAR filed 18 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts 2025 (PDF)
When are the next annual accounts of ADELAAR due?: ADELAAR must file the annual accounts for financial year 2026 by 31-01-2027.Timeline

Companies linked to ADELAAR

Shareholders

J.V.D. Holding50%

Comparable companies

These companies have the same main activity as ADELAAR: development of residential building projects (NACE 68121). They are comparable in size and age: total assets between €36,500 and €47,300, founded between 2004 and 2008.

Company	Total assets	Gross margin
ADELAAR Gent	€40,139	-€2,770
CACP IMMO Soignies	€39,380	-€13,159
De Molenaars Roeselare	€40,410	-€32,942
DHR-Latérale Knokke-Heist	€38,560	-€2,774
BOUWONDERNEMING DEVA Wevelgem	€36,545	-€68,868
Immo Hansenne Léglise	€44,935	€272
MIRO TRADING Brussel	€47,346	-€8,571