ADG CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of ADG CONSTRUCT is 1.6% (moderate). The 2025 annual accounts show negative equity (-€44,245) and a net result of -€46. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 7564 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability28▲+9
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.67 against 0.75 in 2024; short-term debt: 59.8% and cash: 11.6% of total assets), but equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-49.6%
Return on assets
-0.1%
Age of the figures
9 mo
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
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€44,245
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-09-2026, 40 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
40 d late
2024
26 d late
2023
7 d early
2022
6 d early
2021
4 d early
2020
5 d early
2019
8 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 5 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€44,245▼ 0.1%
2024 · -€44,199
Total assets
€89,117▼ 33.8%
2024 · €134,718
Net result
-€46▲ 99.5%
2024 · -€9,833
Working capital
€35,544
2024 · -€44,838
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
Operating result€2,816▼ 80.1%€7,100▲ 152%-€51,293-€540▲ 98.9%€6,807
Net result-€3,882€723-€61,510-€9,833▲ 84.0%-€46▲ 99.5%
Equity€26,421▼ 12.8%€27,144▲ 2.7%-€34,366-€44,199▼ 28.6%-€44,245▼ 0.1%
Total assets€322,997▲ 7.1%€290,324▼ 10.1%€157,890▼ 45.6%€134,718▼ 14.7%€89,117▼ 33.8%
Debt€296,576▲ 9.3%€263,180▼ 11.3%€192,256▼ 26.9%€178,917▼ 6.9%€133,363▼ 25.5%
Working capital€7,484▼ 70.5%€9,877▲ 32.0%-€45,251-€44,838▲ 0.9%€35,544
Staff (FTE)8.7▲ 20.8%5.8▼ 33.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €6,807 after a loss of €540 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €89,117
Fixed assets
€292 ▼ 54.4%
Current assets
€88,826 ▼ 33.8%
Key figures and ratios
EBITDA
€7,154▼
2024 · €9,707
Cash flow
€301▼
2024 · €413
Solvency
-49.6%▼
2024 · -32.8%
Current ratio
1.67▲
2024 · 0.75
Quick ratio
1.41▲
2024 · 0.63
Debt to equity
-3.01▲
2024 · -4.05
ROA
-0.1%▲
2024 · -7.3%
Interest coverage
1.14▲
2024 · 1.13
Debt ≤ 1 year
€53,282▼
2024 · €178,917
Debt > 1 year
€80,080
Income taxes
€575▼
2024 · €734
Staff costs
€239▼
2024 · €17,191
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,338 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.5%
went bankrupt
5.6%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 2,338 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,486 | €8,153 | €5,379 | €2,075 | €102 | ▼ 95.1% |
| Remuneration, social security and pensions62 | €342,765 | €197,541 | €63,398 | €17,191 | €239 | ▼ 98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,815 | €11,981 | €11,329 | €10,247 | €347 | ▼ 96.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€0 | - |
| Other operating charges640/8 | €1,191 | €2,926 | €2,416 | €1,479 | €2,570 | ▲ 73.7% |
| Non-recurring operating charges66A | €37 | €120 | - | - | €7,835 | - |
| Gross operating margin9900 | €354,623 | €219,669 | €25,849 | €28,377 | €17,799 | ▼ 37.3% |
| Operating profit (loss)9901 | €2,816 | €7,100 | -€51,293 | -€540 | €6,807 | ▲ 1,361% |
| Financial income75/76B | €0 | - | €66 | €0 | €22 | - |
| Recurring financial income75 | €0 | - | €66 | €0 | €22 | - |
| Financial charges65/66B | €6,377 | €5,064 | €9,780 | €8,560 | €6,300 | ▼ 26.4% |
| Recurring financial charges65 | €6,377 | €5,064 | €9,780 | €8,560 | €6,300 | ▼ 26.4% |
| Profit (loss) for the period before taxes9903 | -€3,561 | €2,037 | -€61,007 | -€9,099 | €529 | ▲ 106% |
| Income taxes67/77 | €321 | €1,314 | €502 | €734 | €575 | ▼ 21.6% |
| Profit (loss) for the period9904 | -€3,882 | €723 | -€61,510 | -€9,833 | -€46 | ▲ 99.5% |
| Profit (loss) for the period to be appropriated9905 | -€3,882 | €723 | -€61,510 | -€9,833 | -€46 | ▲ 99.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €322,997 | €290,324 | €157,890 | €134,718 | €89,117 | ▼ 33.8% |
| Fixed assets21/28 | €32,215 | €22,214 | €10,885 | €639 | €292 | ▼ 54.4% |
| Tangible fixed assets22/27 | €31,924 | €21,923 | €10,594 | €347 | €0 | ▼ 100% |
| Furniture and vehicles24 | €31,924 | €21,923 | €10,594 | €347 | €0 | ▼ 100% |
| Financial fixed assets28 | €292 | €292 | €292 | €292 | €292 | = |
| Current assets29/58 | €290,782 | €268,110 | €147,005 | €134,079 | €88,826 | ▼ 33.8% |
| Stocks and contracts in progress3 | €141,614 | €107,627 | €42,701 | €20,497 | €13,438 | ▼ 34.4% |
| Stocks30/36 | €20,962 | €23,055 | €22,935 | €20,497 | €13,438 | ▼ 34.4% |
| Contracts in progress37 | €120,651 | €84,571 | €19,766 | €0 | - | - |
| Amounts receivable within one year40/41 | €30,432 | €71,627 | €70,789 | €77,942 | €64,840 | ▼ 16.8% |
| Trade receivables40 | €30,432 | €53,928 | €59,997 | €70,821 | €63,882 | ▼ 9.8% |
| Other amounts receivable41 | - | €17,699 | €10,792 | €7,121 | €958 | ▼ 86.5% |
| Cash at bank and in hand54/58 | €105,987 | €81,229 | €27,619 | €22,343 | €10,324 | ▼ 53.8% |
| Deferred charges and accrued income490/1 | €12,749 | €7,627 | €5,896 | €13,296 | €223 | ▼ 98.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €322,997 | €290,324 | €157,890 | €134,718 | €89,117 | ▼ 33.8% |
| Equity10/15 | €26,421 | €27,144 | -€34,366 | -€44,199 | -€44,245 | ▼ 0.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Outside capital11 | €18,600 | €18,600 | €18,600 | - | - | - |
| Other1109/19 | €18,600 | €18,600 | €18,600 | - | - | - |
| Reserves13 | €7,821 | €8,544 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €5,961 | €6,684 | - | - | - | - |
| Profit (loss) carried forward14 | - | - | -€54,826 | -€64,659 | -€64,705 | ▼ 0.1% |
| Amounts payable17/49 | €296,576 | €263,180 | €192,256 | €178,917 | €133,363 | ▼ 25.5% |
| Amounts payable after more than one year17 | €13,278 | €4,947 | - | - | €80,080 | - |
| Financial debts170/4 | €13,278 | €4,947 | - | - | €80,080 | - |
| Amounts payable within one year42/48 | €283,297 | €258,234 | €192,256 | €178,917 | €53,282 | ▼ 70.2% |
| Current portion of amounts payable after more than one year42 | €8,331 | €8,331 | - | - | €26,183 | - |
| Financial debts43 | €125,000 | €144,000 | €130,000 | €125,000 | €0 | ▼ 100% |
| Credit institutions430/8 | €125,000 | €144,000 | €130,000 | €125,000 | €0 | ▼ 100% |
| Trade debts44 | €86,253 | €54,793 | €32,398 | €12,858 | €0 | ▼ 100% |
| Suppliers440/4 | €86,253 | €54,793 | €32,398 | €12,858 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €11,326 | €505 | €3,234 | €5,103 | €3,907 | ▼ 23.4% |
| Taxes450/3 | €8,850 | €505 | - | €1,077 | €2,257 | ▲ 110% |
| Remuneration and social security454/9 | €2,476 | - | €3,234 | €4,026 | €1,650 | ▼ 59.0% |
| Other amounts payable47/48 | €52,387 | €50,605 | €26,624 | €35,955 | €23,192 | ▼ 35.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,882 | €723 | -€61,510 | -€9,833 | -€46 | ▲ 99.5% |
| + Depreciation and write-downs630 | €7,815 | €11,981 | €11,329 | €10,247 | €347 | ▼ 96.6% |
| Operating cash flow (approximation) | €3,932 | €12,704 | -€50,181 | €413 | €301 | ▼ 27.1% |
| Investment in fixed assets (approximation) | - | -€1,980 | €0 | €0 | -€0 | - |
| Change in cash | - | -€24,758 | -€53,610 | -€5,276 | -€12,019 | ▼ 128% |
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
09-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 40 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 1.67
Current ratio from 0.75 to 1.67; short-term debt falls from €178,917 to €53,282.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
24-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€61,510
Net result drops to -€61,510, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €723
Net result €723 after one loss-making year.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
23-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
13-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-10
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 85 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, Estinnes · 1 establishment unit since 2015
Ground area
804 m²
Building footprint
149 m²
Volume, LiDAR
540 m³
Parcel 56023B0493/00M000, Wallonia · tallest building 5.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
ADG CONSTRUCT
since 20152.241.394.836
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56023B0493/00M000indicative | Wallonia | 804 m² | 1 · 149 m² | 5.1 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 12,246 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded19-03-2015
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43110Demolition
E-invoicing
Reachable via Peppol
Peppol ID
0208:0607846342
Also
9925:BE0607846342
Registered
20-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.