ADEQUA
ActiveSummary
ADEQUA has been active since 1990 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €26,878 and a net result of €804. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 78% of 4,331 sector peers (NACE 74, financial year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
- Equity
- €26,878
- Profit
- €804
Why 70raises riskLast filed accounts filed 51 days late; 2 of the last 3 lateLiquidity: current ratio 4.46, cash €35Profit of €804 (financial year 2025)lowers riskFounded in 1990Show the evidence
Checked score
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 74, micro): better than 88% on solvency, 26% on liquidity, 26% on profitability and 47% on growth.
The bankruptcy probability was computed on 30-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 37 days after the deadline; the sector median (NACE 74) for financial year 2024 is 3 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- Back to profitnet €41,220
Financials · financial year 2025, micro format
2025 annual accounts filed late (51 days) Filed on 20 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00520075.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €695 after €43,527 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 74, Other professional, scientific and technical activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 17,041 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94.4% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 17,041 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€70,518 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €954 | €617 | €974 | €387 | €630 | ▲ 62.5% |
| Gross operating margin9900 | €22,028 | €36,981 | €3,558 | -€96,364 | -€2,308 | -€4,421 | €43,914 | -€66 | - |
| Operating profit (loss)9901 | €20,832 | €12,597 | €3,155 | -€26,799 | -€2,924 | -€5,396 | €43,527 | -€695 | - |
| Financial income75/76B | - | - | - | - | - | €0 | - | €1,834 | - |
| Recurring financial income75 | - | - | - | - | - | €0 | - | €1,834 | - |
| Financial charges65/66B | - | - | - | €91 | €82 | €44 | €40 | €43 | ▲ 7.4% |
| Recurring financial charges65 | €84 | €87 | €206 | €91 | €82 | €44 | €40 | €43 | ▲ 7.4% |
| Profit (loss) for the period before taxes9903 | €20,748 | €12,510 | €2,949 | -€26,890 | -€3,007 | -€5,440 | €43,487 | €1,096 | ▼ 97.5% |
| Income taxes67/77 | - | - | €303 | - | - | - | €2,267 | €293 | ▼ 87.1% |
| Profit (loss) for the period9904 | €20,748 | €12,510 | €2,646 | -€26,890 | -€3,007 | -€5,440 | €41,220 | €804 | ▼ 98.1% |
| Profit (loss) for the period to be appropriated9905 | €20,748 | €12,510 | €2,646 | -€26,890 | -€3,007 | -€5,440 | €41,220 | €804 | ▼ 98.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €52,383 | €25,995 | €26,038 | €519 | €623 | €457 | €33,135 | €34,640 | ▲ 4.5% |
| Current assets29/58 | €52,383 | €25,995 | €26,038 | €519 | €623 | €457 | €33,135 | €34,640 | ▲ 4.5% |
| Stocks and contracts in progress3 | €47,012 | €23,506 | €23,506 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €4,439 | €2,087 | €2,294 | €494 | €240 | €409 | €33,118 | €34,605 | ▲ 4.5% |
| Other amounts receivable41 | - | - | - | €494 | €240 | €409 | €33,118 | €34,605 | ▲ 4.5% |
| Cash at bank and in hand54/58 | €933 | €401 | €238 | €25 | €382 | €49 | €16 | €35 | ▲ 116% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €52,383 | €25,995 | €26,038 | €519 | €623 | €457 | €33,135 | €34,640 | ▲ 4.5% |
| Equity10/15 | €5,035 | €17,544 | €20,190 | -€6,700 | -€9,707 | -€15,146 | €26,074 | €26,878 | ▲ 3.1% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | - | - | - | €20,000 | €20,000 | - | - | - | - |
| Issued capital100 | - | - | - | €20,000 | €20,000 | - | - | - | - |
| Reserves13 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Non-distributable reserves130/1 | - | - | - | €1,000 | €1,000 | - | - | - | - |
| Legal reserve130 | - | - | - | €1,000 | €1,000 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,000 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | -€15,965 | -€3,456 | -€810 | -€27,700 | -€30,707 | -€36,146 | €5,074 | €5,878 | ▲ 15.8% |
| Amounts payable17/49 | €47,349 | €8,450 | €5,848 | €7,219 | €10,329 | €15,603 | €7,060 | €7,763 | ▲ 9.9% |
| Amounts payable within one year42/48 | €47,342 | €8,441 | €5,848 | €7,211 | €10,318 | €15,603 | €7,060 | €7,763 | ▲ 9.9% |
| Trade debts44 | - | - | - | €220 | - | €220 | - | €410 | - |
| Suppliers440/4 | - | - | - | €220 | - | €220 | - | €410 | - |
| Taxes, remuneration and social security45 | - | - | - | €303 | - | - | €2,267 | €2,559 | ▲ 12.9% |
| Taxes450/3 | - | - | - | €303 | - | - | €2,267 | €2,559 | ▲ 12.9% |
| Other amounts payable47/48 | - | - | - | €6,688 | €10,318 | €15,383 | €4,794 | €4,794 | = |
| Accrued charges and deferred income492/3 | - | - | - | €8 | €11 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,748 | €12,510 | €2,646 | -€26,890 | -€3,007 | -€5,440 | €41,220 | €804 | ▼ 98.1% |
| Operating cash flow (approximation) | €20,748 | €12,510 | €2,646 | -€26,890 | -€3,007 | -€5,440 | €41,220 | €804 | ▼ 98.1% |
| Change in cash | - | -€531 | -€164 | -€213 | €357 | -€334 | -€32 | €19 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 24 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 20-09-2026 | 2026-00520075 |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00441636 |
| 31-12-2023 | micro format | 31-08-2024 | 2024-00439443 |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00411482 |
| 31-12-2021 | micro format | 26-08-2022 | 2022-20359354 |
| 31-12-2020 | micro format | 27-08-2021 | 2021-56900053 |
| 31-12-2019 | micro format | 07-10-2020 | 2020-59800466 |
| 31-12-2018 | full format | 30-08-2019 | 2019-61200393 |
| 31-12-2017 | full format | 31-08-2018 | 2018-60300437 |
| 31-12-2016 | full format | 07-08-2017 | 2017-41600540 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Sandrine PIRLET |
|
| Gérard FRANSSEN |
|
Owners and capital
Capital and shareholders
- 12-01-2024 Capital stated in the deed · 100 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
12-01
Gazette deed
Reappointment: Sandrine PIRLET (director)Registered office clause · Capital conversion · Legal-form conversion9 facts ▸
- Other provision, “Article 9-Cessions et transmissions d’actions” (deed in French)
- Registered office clause, “Rue du Falchena 10, Liège” (deed in French)
- Director reappointment, Sandrine PIRLET (director (not named in the articles))
- General meeting, 28-12-2023
- Capital conversion, “compte de capitaux propres statutairement indisponible, transfert” (deed in French)
- Other provision, “non-qualification coopérative, ne répond pas à la définition de société coopérative” (deed in French)
- Legal-form conversion, “société à responsabilité limitée” (deed in French)
- Amendment of the articles
- Capital
16-09
Gazette deed
Resignation: Gérard FRANSSEN (director)Appointment: Sandrine PIRLET (director) · Director discharge4 facts ▸
- General meeting, 25-08-2022
- Director resignation, Gérard FRANSSEN (director)
- Director discharge, Gérard FRANSSEN
- Director appointment, Sandrine PIRLET (director)
Show earlier events
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 62087B0187/00R002 | Wallonia | 5,493 m² | 1 · 536 m² | 6.5 m · 1 |
| 62047C1311/00R003 | Wallonia | 1,047 m² | 1 · 166 m² | 12.2 m · 4 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ADEQUA
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, sièges administratifs,d'exploitation,agences et succursales tant en Belgique qu'à l'étranger” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Gratuit ou rémunéré selon décision et modalités arrêtées par l’assemblée générale qui procède à la nomination, un ou plusieurs…” (deed in French)
Capital, shares and profit
- Share issue ruleHow and by whom new shares can be issued.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of May at 10:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Actif net negatif et continuite, annonce ordre du jour et copie avec convocation” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Reparti egalement entre toutes actions, paiement dettes charges ou consignation” (deed in French)