ADELHEID
ActiveSummary
ADELHEID has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €545,920 and a net result of €26,885. Equity is growing by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 86% of 11693 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
What stands out
Overview
0 of 4 deeds readAccounts 45 d earlyTurnover not published (abridged schema)
Why 90- Higher-failure-rate sector+ Long track record+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+17
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity ample (current ratio 7.03 against 6.13 in 2024; short-term debt: 13.3% and cash: 90.4% of total assets), and 14.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
85.8%
Return on assets
4.2%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-12-2025 was due by 30-07-2026 and was filed on 15-06-2026, 45 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
45 d early
2024
47 d early
2023
62 d early
2022
4 d early
2021
19 d early
2020
43 d early
2019
17 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 34 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-12-2026 and is due by 30-07-2027. Nothing is late today. Usually files around 15 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today30-12-2026 close30-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Weakest financial yearnet €25,369 ▼39%
Financials
Fiscal year 2025Total assets €636,018Profit €26,885Solvency 85.8%Liquidity 7.03
Total assets
€636,018▲ 2.8%
2018 - 2025
Net result
€26,885▲ 6.0%
2018 - 2025
Equity
€545,920▲ 5.2%
2018 - 2025
Staff (FTE)
0.2▼ 75.0%
2018 - 2019
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€61,479▼ 43.8%€56,322▼ 8.4%€67,452▲ 19.8%€34,948▼ 48.2%€33,495▼ 4.2%
Net result€44,438within the sector's middle half▼ 48.9%€39,550above the sector's middle half▼ 11.0%€41,570above the sector's middle half▲ 5.1%€25,369within the sector's middle half▼ 39.0%€26,885within the sector's middle half▲ 6.0%
Equity€442,546within the sector's middle half▲ 11.2%€482,096above the sector's middle half▲ 8.9%€493,666above the sector's middle half▲ 2.4%€519,035above the sector's middle half▲ 5.1%€545,920above the sector's middle half▲ 5.2%
Total assets€499,190below the sector's middle half▼ 9.5%€547,264above the sector's middle half▲ 9.6%€617,076above the sector's middle half▲ 12.8%€618,405above the sector's middle half▲ 0.2%€636,018above the sector's middle half▲ 2.8%
Debt€56,645▼ 63.1%€65,169▲ 15.0%€123,410▲ 89.4%€99,370▼ 19.5%€90,099▼ 9.3%
Working capital€442,546within the sector's middle half▲ 11.2%€482,096above the sector's middle half▲ 8.9%€429,708above the sector's middle half▼ 10.9%€472,278above the sector's middle half▲ 9.9%€509,883above the sector's middle half▲ 8.0%
Solvency88.7%above the sector's middle half▲ 16.5pp88.1%above the sector's middle half▼ 0.6pp80.0%above the sector's middle half▼ 8.1pp83.9%above the sector's middle half▲ 3.9pp85.8%above the sector's middle half▲ 1.9pp
Current ratio8.81above the sector's middle half▲ 5.228.40above the sector's middle half▼ 0.414.59above the sector's middle half▼ 3.816.13above the sector's middle half▲ 1.547.03above the sector's middle half▲ 0.90
Return on assets (ROA)8.9%within the sector's middle half▼ 6.9pp7.2%within the sector's middle half▼ 1.7pp6.7%within the sector's middle half▼ 0.5pp4.1%within the sector's middle half▼ 2.6pp4.2%within the sector's middle half▲ 0.1pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 4% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €636,018
Fixed assets
€41,560 ▼ 23.0%
Current assets
€594,458 ▲ 5.3%
Equity and liabilities €636,018
Equity
€545,920 ▲ 5.2%
Debt
€90,099 ▼ 9.3%
Debt's share of the balance-sheet total falls from 16.1% to 14.2%. Equity is higher and debt is lower.
Key figures and ratios
Key figures and ratios
EBITDA
€47,705▼
2024 · €48,616
Cash flow
€41,095▲
2024 · €39,038
Quick ratio
7.02▲
2024 · 5.96
Debt to equity
0.17▼
2024 · 0.19
ROE
4.9%▲
2024 · 4.9%
Interest coverage
6.05▲
2024 · 3.92
Debt ≤ 1 year
€84,575▼
2024 · €92,125
Income taxes
€13,192▲
2024 · €10,595
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,732 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €10,250 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35 | - | €674 | €13,669 | €14,210 | ▲ 4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €6,506 | -€2,562 | -€3,944 | ▼ 53.9% |
| Other operating charges640/8 | €1,281 | €1,276 | €1,433 | €1,107 | €878 | ▼ 20.7% |
| Gross operating margin9900 | €62,795 | €57,598 | €76,064 | €47,162 | €44,639 | ▼ 5.3% |
| Operating profit (loss)9901 | €61,479 | €56,322 | €67,452 | €34,948 | €33,495 | ▼ 4.2% |
| Financial income75/76B | €8,045 | €8,379 | €9,331 | €13,430 | €14,465 | ▲ 7.7% |
| Recurring financial income75 | €8,045 | €8,379 | €9,331 | €13,430 | €14,465 | ▲ 7.7% |
| Financial charges65/66B | €7,426 | €9,282 | €11,177 | €12,413 | €7,883 | ▼ 36.5% |
| Recurring financial charges65 | €7,426 | €9,282 | €11,177 | €12,413 | €7,883 | ▼ 36.5% |
| Profit (loss) for the period before taxes9903 | €62,098 | €55,419 | €65,606 | €35,964 | €40,077 | ▲ 11.4% |
| Income taxes67/77 | €17,660 | €15,869 | €24,036 | €10,595 | €13,192 | ▲ 24.5% |
| Profit (loss) for the period9904 | €44,438 | €39,550 | €41,570 | €25,369 | €26,885 | ▲ 6.0% |
| Profit (loss) for the period to be appropriated9905 | €44,438 | €39,550 | €41,570 | €25,369 | €26,885 | ▲ 6.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €499,190 | €547,264 | €617,076 | €618,405 | €636,018 | ▲ 2.8% |
| Fixed assets21/28 | - | - | €67,670 | €54,001 | €41,560 | ▼ 23.0% |
| Tangible fixed assets22/27 | - | - | €67,670 | €54,001 | €41,560 | ▼ 23.0% |
| Furniture and vehicles24 | - | - | €67,670 | €54,001 | €41,560 | ▼ 23.0% |
| Current assets29/58 | €499,190 | €547,264 | €549,406 | €564,403 | €594,458 | ▲ 5.3% |
| Stocks and contracts in progress3 | €66,657 | €101,097 | €45,724 | €15,182 | €362 | ▼ 97.6% |
| Stocks30/36 | €66,657 | €101,097 | €45,724 | €15,182 | €362 | ▼ 97.6% |
| Amounts receivable within one year40/41 | €38,371 | €64,274 | €69,766 | €33,732 | €17,757 | ▼ 47.4% |
| Trade receivables40 | €23,432 | €43,889 | €50,079 | €29,732 | €17,757 | ▼ 40.3% |
| Other amounts receivable41 | €14,939 | €20,384 | €19,687 | €4,000 | €0 | ▼ 100% |
| Current investments50/53 | €100,000 | €100,000 | €0 | - | - | - |
| Cash at bank and in hand54/58 | €294,162 | €281,894 | €433,789 | €514,115 | €575,181 | ▲ 11.9% |
| Deferred charges and accrued income490/1 | - | - | €127 | €1,375 | €1,158 | ▼ 15.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €499,190 | €547,264 | €617,076 | €618,405 | €636,018 | ▲ 2.8% |
| Equity10/15 | €442,546 | €482,096 | €493,666 | €519,035 | €545,920 | ▲ 5.2% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Outside capital11 | €20,000 | €20,000 | - | - | - | - |
| Other1109/19 | €20,000 | €20,000 | - | - | - | - |
| Reserves13 | €397,269 | €436,819 | €448,389 | €473,758 | €525,920 | ▲ 11.0% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | €2,000 | €2,000 | €0 | - | - | - |
| Distributable reserves133 | €395,269 | €434,819 | €448,389 | €473,758 | €525,920 | ▲ 11.0% |
| Profit (loss) carried forward14 | €25,277 | €25,277 | €25,277 | €25,277 | €0 | ▼ 100% |
| Amounts payable17/49 | €56,645 | €65,169 | €123,410 | €99,370 | €90,099 | ▼ 9.3% |
| Amounts payable within one year42/48 | €56,645 | €65,169 | €119,698 | €92,125 | €84,575 | ▼ 8.2% |
| Trade debts44 | €1,928 | €7,542 | €3,450 | €5,033 | €4,533 | ▼ 9.9% |
| Suppliers440/4 | €1,928 | €7,542 | €3,450 | €5,033 | €4,533 | ▼ 9.9% |
| Taxes, remuneration and social security45 | €12,071 | €5,668 | €14,121 | €7,268 | €5,008 | ▼ 31.1% |
| Taxes450/3 | €12,071 | €5,668 | €14,121 | €7,268 | €5,008 | ▼ 31.1% |
| Other amounts payable47/48 | €42,646 | €51,958 | €102,126 | €79,824 | €75,034 | ▼ 6.0% |
| Accrued charges and deferred income492/3 | - | - | €3,713 | €7,244 | €5,524 | ▼ 23.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,438 | €39,550 | €41,570 | €25,369 | €26,885 | ▲ 6.0% |
| + Depreciation and write-downs630 | €35 | - | €674 | €13,669 | €14,210 | ▲ 4.0% |
| Operating cash flow (approximation) | €44,472 | €39,550 | €42,244 | €39,038 | €41,095 | ▲ 5.3% |
| Investment in fixed assets (approximation) | - | - | - | €0 | -€1,769 | - |
| Change in cash | - | -€12,268 | €151,895 | €80,327 | €61,066 | ▼ 24.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
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ODK SHOP
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Of 1,277 companies in this sector we hold annual accounts for 687. 395 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
14 eventsLatest 15-06-2026Next filing 30-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-12
Financial
Weakest financial yearnet €25,369 ▼39%
Net result drops to €25,369, the lowest in the series; recovery starts the following year.
30-12
Financial
Equity above €500,000Eq €519,035 ▲5.1%
7 profitable years in a row build equity to €519,035.
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-12
Financial
Liquidity doublescurrent ratio 8.81
Current ratio from 3.59 to 8.81; short-term debt falls from €153,674 to €56,645.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-12
Financial
Highest result since 2018net €86,957 ▲157%
Operating result €109,364, net result €86,957, both a record.
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
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 4 acts read
About the unread acts
We know of 4 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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Company details
Private limited company · founded 15-01-1986Year ends 30-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded15-01-1986
Fiscal year end30-12
Activities, NACEBEL 2025
46160Agents in the wholesale of textiles, clothing, fur, footwear and leather goods
46180Agents specialised in the wholesale of other particular products
46190Agents in non-specialised wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0428321415
Registered
20-11-2020
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Harelbeke · 1 establishment unit since 1986
Ground area
8,543 m²
Building footprint
880 m²
Volume, LiDAR
4,391 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ADELHEID
since 1986unit no. 2.028.690.860
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34004B0449/00L000 | Flanders | 4,524 m² | 1 · 424 m² | 9.7 m · 2 fl. |
| 34004B0449/00G000 | Flanders | 4,019 m² | 1 · 456 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Go further with this company
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