Adley
ActiveSummary
Adley has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €315,494. Equity is growing by ~11.7% per year across the filed fiscal years. Its solvency ranks better than 40% of 112 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-15
Solvency64▲+2
Growth73=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity ample (current ratio 1.54 against 1.5 in 2024; short-term debt: 60.8% and cash: 38.3% of total assets), but 60.8% 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
Five signals. The signal on the left, the evidence on the right.
−lowers 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 20
Relative position
BE, all sectors
reference
Manufacture of chemicals and chemical products (NACE 20)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
39.2%
Return on assets
11.6%
Age of the figures
9 mo
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
71 d early
2023
76 d early
2022
68 d early
2021
73 d early
2020
58 d early
2019
78 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 70 days before the deadline; the sector median for financial year 2024 is 22 days before the deadline, and 27% 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, abbreviated schema
In the rankings
#8 oldest company in Flemish Brabant, Chemicals sector
Turnover
€7.6m▲ 21.8%
2020 · €6.2m
EBIT margin
10.1%▲ 2.4pp
2020 · 7.7%
Net result
€315,494▼ 38.4%
2024 · €512,027
Working capital
€899,648▼ 5.1%
2024 · €947,737
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 20, Manufacture of chemicals and chemical products, 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
Turnover€7.6m▲ 21.8%
Operating result€768,108▲ 60.6%€698,641▼ 9.0%€523,789▼ 25.0%€540,310▲ 3.2%€322,049▼ 40.4%
Net result€616,313above the sector's middle half▲ 67.4%€527,155above the sector's middle half▼ 14.5%€411,699above the sector's middle half▼ 21.9%€512,027above the sector's middle half▲ 24.4%€315,494above the sector's middle half▼ 38.4%
EBIT margin10.1%▲ 2.4pp
Equity€1.3mwithin the sector's middle half▲ 99.3%€1.3mwithin the sector's middle half=€984,725within the sector's middle half▼ 25.9%€1.1mwithin the sector's middle half▲ 14.1%€1.1mwithin the sector's middle half▼ 5.1%
Total assets€2.8mwithin the sector's middle half▲ 24.4%€2.9mwithin the sector's middle half▲ 3.4%€2.9mwithin the sector's middle half=€3.0mwithin the sector's middle half▲ 5.4%€2.7mwithin the sector's middle half▼ 10.3%
Debt€1.5m▼ 7.4%€1.5m▲ 6.5%€1.9m▲ 22.4%€1.9m▲ 0.8%€1.7m▼ 13.4%
Working capital€1.2m▲ 113%€1.2m▲ 0.9%€862,380▼ 29.3%€947,737▲ 9.9%€899,648▼ 5.1%
Solvency47.8%within the sector's middle half▲ 17.9pp46.2%within the sector's middle half▼ 1.6pp34.2%within the sector's middle half▼ 12.0pp37.1%within the sector's middle half▲ 2.8pp39.2%within the sector's middle half▲ 2.1pp
Staff (FTE)5within the sector's middle half=6.1within the sector's middle half▲ 22.0%6within the sector's middle half▼ 1.6%6within the sector's middle half=6within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 20, Manufacture of chemicals and chemical products, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 40% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.7m
Fixed assets
€166,604 ▼ 5.4%
Current assets
€2.6m ▼ 10.6%
Equity and liabilities €2.7m
Equity
€1.1m ▼ 5.1%
Debt
€1.7m ▼ 13.4%
Debt's share of the balance-sheet total falls from 62.9% to 60.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€367,945▼
2024 · €582,452
Cash flow
€361,389▼
2024 · €554,170
Current ratio
1.54▲
2024 · 1.50
Quick ratio
1.12▲
2024 · 1.06
Debt to equity
1.55▼
2024 · 1.70
ROE
29.6%▼
2024 · 45.6%
ROA
11.6%▼
2024 · 16.9%
Interest coverage
4.98▼
2024 · 9.07
Debt ≤ 1 year
€1.7m▼
2024 · €1.9m
Income taxes
€82,073▼
2024 · €142,247
Staff costs
€708,495▲
2024 · €639,988
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% 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 31,324 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €7.6m | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €6.3m | - | - | - | - | - |
| Remuneration, social security and pensions62 | €530,607 | €649,657 | €647,080 | €639,988 | €708,495 | ▲ 10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,471 | €45,954 | €32,478 | €42,143 | €45,896 | ▲ 8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €11,370 | €547 | €12,894 | -€3,638 | €3,243 | ▲ 189% |
| Other operating charges640/8 | €11,954 | €46,824 | €11,641 | €15,567 | €15,486 | ▼ 0.5% |
| Gross operating margin9900 | €1.4m | €1.4m | €1.2m | €1.2m | €1.1m | ▼ 11.3% |
| Operating profit (loss)9901 | €768,108 | €698,641 | €523,789 | €540,310 | €322,049 | ▼ 40.4% |
| Financial income75/76B | €63,276 | €65,942 | €134,532 | €178,211 | €149,361 | ▼ 16.2% |
| Recurring financial income75 | €63,276 | €65,942 | €134,532 | €178,211 | €149,361 | ▼ 16.2% |
| Financial charges65/66B | €32,847 | €45,863 | €57,028 | €64,246 | €73,843 | ▲ 14.9% |
| Recurring financial charges65 | €32,847 | €45,863 | €57,028 | €64,246 | €73,843 | ▲ 14.9% |
| Profit (loss) for the period before taxes9903 | €798,538 | €718,720 | €601,293 | €654,275 | €397,567 | ▼ 39.2% |
| Income taxes67/77 | €182,224 | €191,565 | €189,594 | €142,247 | €82,073 | ▼ 42.3% |
| Profit (loss) for the period9904 | €616,313 | €527,155 | €411,699 | €512,027 | €315,494 | ▼ 38.4% |
| Profit (loss) for the period to be appropriated9905 | €616,313 | €527,155 | €411,699 | €512,027 | €315,494 | ▼ 38.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €2.9m | €2.9m | €3.0m | €2.7m | ▼ 10.3% |
| Fixed assets21/28 | €156,868 | €147,790 | €133,049 | €176,022 | €166,604 | ▼ 5.4% |
| Intangible fixed assets21 | €4,200 | €3,500 | €2,800 | €2,100 | €2,589 | ▲ 23.3% |
| Tangible fixed assets22/27 | €152,268 | €143,890 | €129,849 | €173,522 | €143,614 | ▼ 17.2% |
| Plant, machinery and equipment23 | €41,998 | €35,645 | €33,336 | €102,451 | €91,285 | ▼ 10.9% |
| Furniture and vehicles24 | €36,613 | €43,762 | €41,203 | €24,934 | €15,367 | ▼ 38.4% |
| Other tangible fixed assets26 | €73,657 | €64,483 | €55,310 | €46,136 | €36,962 | ▼ 19.9% |
| Financial fixed assets28 | €400 | €400 | €400 | €400 | €20,400 | ▲ 5,000% |
| Current assets29/58 | €2.6m | €2.7m | €2.7m | €2.9m | €2.6m | ▼ 10.6% |
| Stocks and contracts in progress3 | €843,077 | €814,871 | €796,103 | €835,931 | €701,429 | ▼ 16.1% |
| Stocks30/36 | €843,077 | €814,871 | €796,103 | €835,931 | €701,429 | ▼ 16.1% |
| Amounts receivable within one year40/41 | €1.0m | €996,669 | €882,795 | €803,661 | €808,925 | ▲ 0.7% |
| Trade receivables40 | €656,928 | €863,805 | €795,443 | €649,617 | €592,972 | ▼ 8.7% |
| Other amounts receivable41 | €370,922 | €132,864 | €87,352 | €154,044 | €215,954 | ▲ 40.2% |
| Cash at bank and in hand54/58 | €754,709 | €917,502 | €1.1m | €1.2m | €1.0m | ▼ 14.3% |
| Deferred charges and accrued income490/1 | - | - | €2 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €2.9m | €2.9m | €3.0m | €2.7m | ▼ 10.3% |
| Equity10/15 | €1.3m | €1.3m | €984,725 | €1.1m | €1.1m | ▼ 5.1% |
| Contributions10/11 | €700,000 | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Capital10 | €700,000 | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Issued capital100 | €700,000 | €700,000 | €700,000 | €700,000 | €700,000 | = |
| Reserves13 | €84,725 | €84,725 | €84,725 | €84,725 | €84,725 | = |
| Non-distributable reserves130/1 | €81,750 | €81,750 | €81,750 | €81,750 | €81,750 | = |
| Legal reserve130 | €81,750 | €81,750 | €81,750 | €81,750 | €81,750 | = |
| Tax-exempt reserves132 | €2,975 | €2,975 | €2,975 | €2,975 | €2,975 | = |
| Profit (loss) carried forward14 | €544,603 | €544,603 | €200,000 | €339,027 | €281,521 | ▼ 17.0% |
| Amounts payable17/49 | €1.5m | €1.5m | €1.9m | €1.9m | €1.7m | ▼ 13.4% |
| Amounts payable after more than one year17 | €36,144 | €31,465 | €10,697 | €0 | - | - |
| Financial debts170/4 | €36,144 | €31,465 | €10,697 | €0 | - | - |
| Amounts payable within one year42/48 | €1.4m | €1.5m | €1.9m | €1.9m | €1.7m | ▼ 13.4% |
| Current portion of amounts payable after more than one year42 | €41,849 | €20,531 | €20,768 | €10,697 | €0 | ▼ 100% |
| Financial debts43 | €254,268 | €87,723 | €25,285 | €0 | - | - |
| Credit institutions430/8 | €254,268 | €87,723 | €25,285 | €0 | - | - |
| Trade debts44 | €570,946 | €624,158 | €545,374 | €570,204 | €450,272 | ▼ 21.0% |
| Suppliers440/4 | €570,946 | €624,158 | €545,374 | €570,204 | €450,272 | ▼ 21.0% |
| Taxes, remuneration and social security45 | €98,701 | €110,183 | €141,637 | €115,168 | €111,477 | ▼ 3.2% |
| Taxes450/3 | €40,376 | €49,377 | €75,317 | €46,665 | €39,444 | ▼ 15.5% |
| Remuneration and social security454/9 | €58,325 | €60,806 | €66,320 | €68,503 | €72,033 | ▲ 5.2% |
| Other amounts payable47/48 | €450,750 | €665,939 | €1.1m | €1.2m | €1.1m | ▼ 10.0% |
| Accrued charges and deferred income492/3 | €518 | €7,506 | €6 | €6 | €6 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €616,313 | €527,155 | €411,699 | €512,027 | €315,494 | ▼ 38.4% |
| + Depreciation and write-downs630 | €46,471 | €45,954 | €32,478 | €42,143 | €45,896 | ▲ 8.9% |
| Operating cash flow (approximation) | €662,785 | €573,109 | €444,177 | €554,170 | €361,389 | ▼ 34.8% |
| Investment in fixed assets (approximation) | - | -€36,876 | -€17,737 | -€85,116 | -€36,478 | ▲ 57.1% |
| Change in cash | - | €162,793 | €148,739 | €150,628 | -€174,092 | ▼ 216% |
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
State Gazette act
Resignations: Marijke Vandenbroucke (director) and FLEXCON (director)Permanent representative: Johan Blondeel4 facts ▸
State Gazette act
Resignations: Marijke Vandenbroucke (director) and FLEXCON (director)
Permanent representative: Johan Blondeel4 facts ▸
- General meeting, 27-08-2026
- Director resignation, Marijke Vandenbroucke (director)
- Director resignation, FLEXCON (director)
- Permanent representative, Johan Blondeel (permanent representative)
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
21-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €1mEq €1.1m ▲14.1%
7 profitable years in a row build equity to €1.1m.
16-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
24-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
19-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €616,313 ▲67.4%
Operating result €768,108, net result €616,313, both a record.
31-12
Financial
Equity above €1mEq €1.3m ▲99.3%
4 profitable years in a row build equity to €1.3m.
03-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €500,000Eq €667,128 ▲113%
3 profitable years in a row build equity to €667,128.
14-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
16-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
19-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
8 of this company's 9 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, Machelen (Brab.) · 1 establishment unit since 1977
Ground area
4,327 m²
Building footprint
4,310 m²
Volume, LiDAR
36,211 m³
Parcel 23047A0418/00B002, Flanders · tallest building 12.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Steenweg Buda 2A, 1830 Machelen (Brab.)
since 19772.015.968.420
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23047A0418/00B002 | Flanders | 4,327 m² | 1 · 4,310 m² | 12.5 m · 3 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, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| FLEXCON |
|
| Marijke Vandenbroucke |
|
Structure & network
Owners and holdings
2 ownersOwners 2
- Sourceaccounts FLEXCON 202450%
-
50%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
8945009WWBYTYGV8MV22
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Of 42 companies in sector 20110 we hold annual accounts for 31. 16 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
Founded09-03-1979
Fiscal year end31-12
Activities, NACEBEL 2025
20110Manufacture of chemicals and chemical products
46851Wholesale of industrial chemicals
Contact
E-mail
Philippe.Mattheus@adley.com
E-invoicing
Reachable via Peppol
Peppol ID
0208:0419245381
Also
9925:BE0419245381
Registered
14-04-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.