ADF CONSTRUCT
ActiveSummary
ADF CONSTRUCT has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €116k and a net result of €-7k. Equity is growing by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 67% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▼-13
Solvency85▼-15
Growth85=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity short (current ratio 0.03; short-term debt: 39.9% and cash: 0.8% of total assets), and 39.9% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
Real estate activities (NACE 68)
about 43% fewer 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
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-7k
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 27-05-2026, 65 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
65 d early
2024
40 d late
2023
51 d late
2022
59 d late
2021
68 d late
2020
79 d late
2019
87 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, full schema
Turnover
€212k▲ 1,667%
2021 · €12k
EBIT margin
61.2%▲ 129.1pp
2021 · -67.9%
Net result
€-7k▼ 35.7%
2024 · €-5k
Working capital
€-75k
2024 · €123k
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
Turnover€12k▲ 140%€212k
Operating result€-8k▲ 46.0%€-8k▲ 0.5%€130k€-4k€-6k▼ 49.3%
Net result€-17k▲ 28.0%€-17k▲ 1.5%€120k€-5k€-7k▼ 35.7%
EBIT margin-67.9%▲ 234.0pp61.2%
Equity€49k▼ 26.2%€32k▼ 34.9%€128k▲ 301%€123k▼ 3.9%€116k▼ 5.5%
Total assets€255k▼ 11.9%€253k▼ 1.0%€158k▼ 37.3%€123k▼ 22.1%€193k▲ 56.1%
Debt€206k▼ 7.6%€221k▲ 7.1%€31k▼ 86.0%€859▼ 97.2%€77k▲ 8,860%
Working capital€-4k€-37k▼ 845%€134k€123k▼ 8.3%€-75k
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €6k in 2025 against €4k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €193k
Fixed assets
€191k
Current assets
€2k
Equity and liabilities €193k
Equity
€116k ▼ 5.5%
Debt
€77k ▲ 8,860%
Debt's share of the balance-sheet total rises from 0.7% to 39.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-6k
Cash flow
€-6k
Current ratio
0.03
Debt to equity
0.66▲
2024 · 0.01
ROE
-5.9%▼
2024 · -4.1%
ROA
-3.5%▲
2024 · -4.1%
Interest coverage
-8.57
Debt ≤ 1 year
€77k▲
2024 · €859
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €12k | - | €212k | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €751 | €813 | €79k | €4k | €5k | ▲ 35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17k | €2k | - | - | €644 | - |
| Other operating charges640/8 | €3k | €5k | €3k | €592 | €743 | ▲ 25.5% |
| Gross operating margin9900 | €11k | €-813 | €133k | €-4k | €-5k | ▼ 35.0% |
| Operating profit (loss)9901 | €-8k | €-8k | €130k | €-4k | €-6k | ▼ 49.3% |
| Financial charges65/66B | €9k | €9k | €10k | €735 | €643 | ▼ 12.5% |
| Recurring financial charges65 | €9k | €9k | €10k | €735 | €643 | ▼ 12.5% |
| Profit (loss) for the period before taxes9903 | €-17k | €-17k | €120k | €-5k | €-7k | ▼ 39.9% |
| Income taxes67/77 | - | - | - | €152 | - | - |
| Profit (loss) for the period9904 | €-17k | €-17k | €120k | €-5k | €-7k | ▼ 35.7% |
| Profit (loss) for the period to be appropriated9905 | €-17k | €-17k | €120k | €-5k | €-7k | ▼ 35.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €255k | €253k | €158k | €123k | €193k | ▲ 56.1% |
| Fixed assets21/28 | €235k | €233k | - | - | €191k | - |
| Tangible fixed assets22/27 | €235k | €233k | - | - | €191k | - |
| Land and buildings22 | €234k | €232k | - | - | €191k | - |
| Plant, machinery and equipment23 | €1k | €500 | - | - | - | - |
| Current assets29/58 | €20k | €20k | €158k | €123k | €2k | ▼ 98.2% |
| Amounts receivable within one year40/41 | €19k | €19k | €21k | €121k | €700 | ▼ 99.4% |
| Trade receivables40 | €18k | €18k | - | - | - | - |
| Other amounts receivable41 | €700 | €700 | €21k | €121k | €700 | ▼ 99.4% |
| Cash at bank and in hand54/58 | €722 | €549 | €138k | €2k | €1k | ▼ 37.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €255k | €253k | €158k | €123k | €193k | ▲ 56.1% |
| Equity10/15 | €49k | €32k | €128k | €123k | €116k | ▼ 5.5% |
| Contributions10/11 | €120k | €120k | €120k | €120k | €120k | = |
| Capital10 | €120k | €120k | €120k | €120k | €120k | = |
| Issued capital100 | €120k | €120k | €120k | €120k | €120k | = |
| Reserves13 | €191 | €191 | €191 | €191 | €191 | = |
| Non-distributable reserves130/1 | €191 | €191 | €191 | €191 | €191 | = |
| Legal reserve130 | €191 | €191 | €191 | €191 | €191 | = |
| Profit (loss) carried forward14 | €-71k | €-88k | €7k | €2k | €-4k | ▼ 281% |
| Amounts payable17/49 | €206k | €221k | €31k | €859 | €77k | ▲ 8,860% |
| Amounts payable after more than one year17 | €182k | €164k | - | - | - | - |
| Financial debts170/4 | €182k | €164k | - | - | - | - |
| Amounts payable within one year42/48 | €24k | €57k | €25k | €859 | €77k | ▲ 8,860% |
| Current portion of amounts payable after more than one year42 | €18k | €19k | - | - | - | - |
| Trade debts44 | €2k | €348 | €384 | €859 | €399 | ▼ 53.6% |
| Suppliers440/4 | €2k | €348 | €384 | €859 | €399 | ▼ 53.6% |
| Other amounts payable47/48 | €4k | €38k | €24k | - | €77k | - |
| Accrued charges and deferred income492/3 | - | - | €6k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-17k | €-17k | €120k | €-5k | €-7k | ▼ 35.7% |
| + Depreciation and write-downs630 | €17k | €2k | - | - | €644 | - |
| Operating cash flow (approximation) | €-628 | €-15k | €120k | €-5k | €-6k | ▼ 22.8% |
| Investment in fixed assets (approximation) | - | €0 | - | - | - | - |
| Change in cash | - | €-173 | €137k | €-135k | €-866 | ▲ 99.4% |
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
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
09-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 40 days late
2024
31-12
Financial
Liquidity times 22current ratio 143.73
Current ratio from 6.39 to 143.73; short-term debt falls from €25k to €859.
20-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 51 days late
2023
31-12
Financial
Back to profitnet €120k
Net result €120k after 5 loss-making years.
31-12
Financial
Liquidity times 18current ratio 6.39
Current ratio from 0.35 to 6.39; short-term debt falls from €57k to €25k.
31-12
Financial
Equity above €100kEq €128k ▲301%
Equity rises from €32k to €128k.
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 59 days late
2022
07-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 68 days late
2021
18-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 79 days late
2020
31-12
Financial
Weakest financial yearnet €-24k
Net result drops to €-24k, the lowest in the series; recovery starts the following year.
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 87 days late
Show earlier events
2019
10-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 41 days late
2018
21-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 52 days late
2017
18-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 49 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Anderlecht · 1 establishment unit since 2012
Ground area
164 m²
Parcel 21306C0162/00P000, Brussels. Linked by address, not a title deed.
26
companies at this address
See who is registered here
1 establishment unit
ADF CONSTRUCT
since 20122.209.158.370
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21306C0162/00P000 | Brussels | 164 m² | - | - |
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.
Similar companies · same sector, comparable size
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HABOMA
BE 0896.968.205
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LVA, société immobilière
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AGRI SERVICES DE BEAUMONT
BE 0870.344.970
Beaumont · Eq €115,550
Of 12,041 companies in sector 68203 we hold annual accounts for 5,994. 3,911 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-12-2011
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.