ADICAR
ActiveSummary
ADICAR has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€567,750) and a net result of €14,415. Equity is shrinking by ~37.9% per year across the filed fiscal years. Its solvency ranks better than 5% of 10485 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.05 against 0.02 in 2024; cash: 10.8% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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
Return on assets
51.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 10485 sector peers (2025).
NBB · sector comparisonPosition among 10485 sector peers
Solvency
better than 5%
← weakest
strongest →
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
29 d late
2023
15 d early
2022
13 d early
2021
23 d early
2020
8 d early
2019
14 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 8 days before 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
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
-€567,750▲ 2.5%
2024 · -€582,165
Total assets
€27,938▲ 124%
2024 · €12,483
Net result
€14,415
2024 · -€76,652
Working capital
-€567,750▲ 2.6%
2024 · -€582,903
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€459,263▼ 79.1%-€387,162▲ 15.7%€111,638-€77,259€14,923
Net result-€460,408below the sector's middle half▼ 51.1%-€385,860below the sector's middle half▲ 16.2%€111,124above the sector's middle half-€76,652below the sector's middle half€14,415within the sector's middle half
Equity-€230,777below the sector's middle half-€616,637below the sector's middle half▼ 167%-€505,513below the sector's middle half▲ 18.0%-€582,165below the sector's middle half▼ 15.2%-€567,750below the sector's middle half▲ 2.5%
Total assets€851,167within the sector's middle half▼ 26.0%€724,918within the sector's middle half▼ 14.8%€89,701within the sector's middle half▼ 87.6%€12,483below the sector's middle half▼ 86.1%€27,938below the sector's middle half▲ 124%
Debt€1.1m▲ 17.6%€1.3m▲ 24.0%€595,214▼ 55.6%€594,648▼ 0.1%€595,688▲ 0.2%
Working capital-€867,290▼ 149%-€1.2m▼ 36.8%-€576,506▲ 51.4%-€582,903▼ 1.1%-€567,750▲ 2.6%
Solvency-27.1%below the sector's middle half▼ 47.1pp-85.1%below the sector's middle half▼ 57.9pp-563.6%below the sector's middle half▼ 478.5pp
Staff (FTE)2.3within the sector's middle half▼ 39.5%3within the sector's middle half▲ 30.4%2▼ 33.3%0below the sector's middle half▼ 100%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail 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 per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €14,923 after a loss of €77,259 in 2024.
Key figures and ratios
EBITDA
€14,923▲
2024 · -€76,481
Cash flow
€14,415▲
2024 · -€75,875
Current ratio
0.05▲
2024 · 0.02
Debt to equity
-1.05▼
2024 · -1.02
ROA
51.6%▲
2024 · -614.1%
Interest coverage
29.06▲
2024 · -432.10
Debt ≤ 1 year
€595,688▲
2024 · €594,648
Staff costs
€0▲
2024 · -€24
A ratio outside any meaningful range has been withheld (balance sheet total €27,938, equity -€567,750).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,799 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% 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 497,058 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 3,799 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 | - | €881 | €347,956 | €0 | €12,150 | - |
| Remuneration, social security and pensions62 | €199,536 | €206,450 | €68,832 | -€24 | €0 | ▲ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €78,896 | €78,351 | €39,344 | €777 | €0 | ▼ 100% |
| Other operating charges640/8 | €9,093 | €14,681 | €8,722 | €1,111 | €820 | ▼ 26.3% |
| Non-recurring operating charges66A | - | - | - | €69,478 | €237 | ▼ 99.7% |
| Gross operating margin9900 | -€171,738 | -€87,679 | €228,535 | -€5,916 | €15,980 | ▲ 370% |
| Operating profit (loss)9901 | -€459,263 | -€387,162 | €111,638 | -€77,259 | €14,923 | ▲ 119% |
| Financial income75/76B | €43 | €2,267 | €277 | €783 | €6 | ▼ 99.3% |
| Recurring financial income75 | €43 | €2,267 | €277 | €783 | €6 | ▼ 99.3% |
| Financial charges65/66B | €714 | €485 | €714 | €177 | €514 | ▲ 190% |
| Recurring financial charges65 | €714 | €485 | €714 | €177 | €514 | ▲ 190% |
| Profit (loss) for the period before taxes9903 | -€459,934 | -€385,380 | €111,201 | -€76,652 | €14,415 | ▲ 119% |
| Income taxes67/77 | €474 | €480 | €77 | €0 | - | - |
| Profit (loss) for the period9904 | -€460,408 | -€385,860 | €111,124 | -€76,652 | €14,415 | ▲ 119% |
| Profit (loss) for the period to be appropriated9905 | -€460,408 | -€385,860 | €111,124 | -€76,652 | €14,415 | ▲ 119% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €851,167 | €724,918 | €89,701 | €12,483 | €27,938 | ▲ 124% |
| Fixed assets21/28 | €636,513 | €570,147 | €70,993 | €737 | €0 | ▼ 100% |
| Intangible fixed assets21 | €120,421 | €100,660 | €67,589 | €0 | - | - |
| Tangible fixed assets22/27 | €516,092 | €469,486 | €3,405 | €737 | €0 | ▼ 100% |
| Land and buildings22 | €449,304 | €424,363 | €0 | - | - | - |
| Plant, machinery and equipment23 | €10,117 | €7,792 | €878 | €0 | - | - |
| Furniture and vehicles24 | €56,672 | €37,331 | €2,527 | €737 | €0 | ▼ 100% |
| Current assets29/58 | €214,654 | €154,772 | €18,707 | €11,745 | €27,938 | ▲ 138% |
| Stocks and contracts in progress3 | €121,787 | €95,845 | €0 | - | - | - |
| Stocks30/36 | €121,787 | €95,845 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €25,538 | €13,034 | €4,326 | €9,135 | €24,904 | ▲ 173% |
| Trade receivables40 | €7,395 | €10,013 | €2,358 | €8,667 | €23,501 | ▲ 171% |
| Other amounts receivable41 | €18,143 | €3,021 | €1,968 | €468 | €1,403 | ▲ 199% |
| Cash at bank and in hand54/58 | €36,743 | €13,512 | €12,565 | €1,081 | €3,004 | ▲ 178% |
| Deferred charges and accrued income490/1 | €30,586 | €32,382 | €1,816 | €1,529 | €30 | ▼ 98.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €851,167 | €724,918 | €89,701 | €12,483 | €27,938 | ▲ 124% |
| Equity10/15 | -€230,777 | -€616,637 | -€505,513 | -€582,165 | -€567,750 | ▲ 2.5% |
| Contributions10/11 | €110,000 | €110,000 | €110,000 | €110,000 | €110,000 | = |
| Capital10 | €110,000 | €110,000 | €110,000 | €110,000 | €110,000 | = |
| Issued capital100 | €110,000 | €110,000 | €110,000 | €110,000 | €110,000 | = |
| Reserves13 | €86,000 | €86,000 | €86,000 | €86,000 | €86,000 | = |
| Non-distributable reserves130/1 | €11,000 | €11,000 | €11,000 | €11,000 | €11,000 | = |
| Legal reserve130 | €11,000 | €11,000 | €11,000 | €11,000 | €11,000 | = |
| Distributable reserves133 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Profit (loss) carried forward14 | -€426,777 | -€812,637 | -€701,513 | -€778,165 | -€763,750 | ▲ 1.9% |
| Amounts payable17/49 | €1.1m | €1.3m | €595,214 | €594,648 | €595,688 | ▲ 0.2% |
| Amounts payable within one year42/48 | €1.1m | €1.3m | €595,214 | €594,648 | €595,688 | ▲ 0.2% |
| Trade debts44 | €50,232 | €7,298 | €2,288 | €750 | €115 | ▼ 84.7% |
| Suppliers440/4 | €50,232 | €7,298 | €2,288 | €750 | €115 | ▼ 84.7% |
| Taxes, remuneration and social security45 | €37,604 | €50,136 | €558 | €1,113 | €1,910 | ▲ 71.5% |
| Taxes450/3 | €7,026 | €10,182 | €558 | €1,113 | €1,910 | ▲ 71.5% |
| Remuneration and social security454/9 | €30,578 | €39,954 | €0 | - | - | - |
| Other amounts payable47/48 | €994,107 | €1.3m | €592,368 | €592,784 | €593,663 | ▲ 0.1% |
| Accrued charges and deferred income492/3 | - | €15 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€460,408 | -€385,860 | €111,124 | -€76,652 | €14,415 | ▲ 119% |
| + Depreciation and write-downs630 | €78,896 | €78,351 | €39,344 | €777 | €0 | ▼ 100% |
| Operating cash flow (approximation) | -€381,512 | -€307,509 | €150,468 | -€75,875 | €14,415 | ▲ 119% |
| Investment in fixed assets (approximation) | - | -€11,985 | €459,809 | €69,478 | €737 | ▼ 98.9% |
| Change in cash | - | -€23,231 | -€946 | -€11,484 | €1,923 | ▲ 117% |
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
24-07
State Gazette act
Appointment: Kristof Lefever (director)Resignation: V-Park (director)3 facts ▸
State Gazette act
Appointment: Kristof Lefever (director)
Resignation: V-Park (director)3 facts ▸
- General meeting, 01-06-2026
- Director appointment, Kristof Lefever (director)
- Director resignation, V-Park (director)
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €14,415
Net result €14,415 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €111,124
Net result €111,124 after 5 loss-making years.
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet -€460,408
Net result drops to -€460,408, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 14 acts read
About the unread acts
Of the 14 Belgian State Gazette acts we know for this company, 1 has been read. The other 13 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 director, last change in 2026
Kristof Lefever
CurrentDirector · since 21-05-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
13 of this company's 14 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Koksijde · 1 establishment unit since 1994
Ground area
2,144 m²
Building footprint
80 m²
Volume, LiDAR
338 m³
Parcel 38342H0360/00F000, Flanders · tallest building 9.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ADICAR
since 19942.068.551.823
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38342H0360/00F000 | Flanders | 2,144 m² | 1 · 80 m² | 9.8 m · 2 fl. |
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.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Kristof Lefever |
|
| V-Park |
|
Structure & network
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
V-Park
via Kristof Lefever · Permanent representative
former→
Similar companies · same sector, comparable size
CHILLER
BE 0453.288.027
Rixensart · Eq €229,735
WITKAP
BE 0848.344.479
Ninove · Eq €229,283
LES ARTS D'ARTAN
BE 0882.055.444
Schaarbeek · Eq €230,428
M.E. gusta vino!
BE 0682.437.758
Geel · Eq €230,811
HET WIJNHUIS ANTWERPEN
BE 0889.444.072
Antwerpen · Eq €226,920
Of 1,510 companies in sector 47252 we hold annual accounts for 652. 502 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
Founded14-07-1994
Fiscal year end31-12
Activities, NACEBEL 2025
47252Retail sale of beverages, general range
47242Retail sale of chocolate and confectionery
E-invoicing
Reachable via Peppol
Peppol ID
0208:0453121048
Also
9925:BE0453121048
Registered
15-05-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.