Adlin
ActiveSummary
Adlin has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €97,696 and a net result of €18,918. Equity is growing by ~49% per year across the filed fiscal years. Its solvency ranks better than 90% of 7900 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability89▼-4
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 6.25 against 6.14 in 2024; short-term debt: 16% of total assets), and 16% 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
Three 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
84%
Return on assets
16.3%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 28-01-2026, 3 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
3 d early
2024
31 d early
2023
34 d early
2022
32 d early
2021
3 d early
2020
40 d early
2019
32 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 25 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€97,696▲ 24.0%
2024 · €78,778
Total assets
€116,245▲ 23.9%
2024 · €93,857
Net result
€18,918▲ 3.4%
2024 · €18,291
Working capital
€97,331▲ 25.7%
2024 · €77,445
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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€11,482▲ 12.4%€26,352▲ 129%€13,042▼ 50.5%€22,446▲ 72.1%€23,616▲ 5.2%
Net result€9,197within the sector's middle half▲ 34.2%€24,550within the sector's middle half▲ 167%€10,771within the sector's middle half▼ 56.1%€18,291within the sector's middle half▲ 69.8%€18,918within the sector's middle half▲ 3.4%
Equity€25,167below the sector's middle half▲ 57.6%€49,717below the sector's middle half▲ 97.5%€60,488below the sector's middle half▲ 21.7%€78,778below the sector's middle half▲ 30.2%€97,696within the sector's middle half▲ 24.0%
Total assets€65,350below the sector's middle half▲ 21.2%€67,128below the sector's middle half▲ 2.7%€74,837below the sector's middle half▲ 11.5%€93,857below the sector's middle half▲ 25.4%€116,245below the sector's middle half▲ 23.9%
Debt€40,183▲ 5.9%€17,411▼ 56.7%€14,349▼ 17.6%€15,079▲ 5.1%€18,549▲ 23.0%
Working capital€12,591▲ 254%€43,178▲ 243%€58,186▲ 34.8%€77,445▲ 33.1%€97,331▲ 25.7%
Solvency38.5%within the sector's middle half▲ 8.9pp74.1%above the sector's middle half▲ 35.6pp80.8%above the sector's middle half▲ 6.8pp83.9%above the sector's middle half▲ 3.1pp84.0%above the sector's middle half▲ 0.1pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 5% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €116,245
Fixed assets
€366 ▼ 72.6%
Current assets
€115,880 ▲ 25.2%
Equity and liabilities €116,245
Equity
€97,696 ▲ 24.0%
Debt
€18,549 ▲ 23.0%
Debt's share of the balance-sheet total falls from 16.1% to 16.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€24,584▲
2024 · €23,414
Cash flow
€19,886▲
2024 · €19,259
Current ratio
6.25▲
2024 · 6.14
Debt to equity
0.19▼
2024 · 0.19
ROE
19.4%▼
2024 · 23.2%
ROA
16.3%▼
2024 · 19.5%
Interest coverage
33.68▲
2024 · 26.17
Debt ≤ 1 year
€18,549▲
2024 · €15,079
Income taxes
€10,234▲
2024 · €7,474
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 34,672 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,924 | €8,082 | €7,142 | €968 | €968 | = |
| Other operating charges640/8 | - | €1,718 | €1,279 | €631 | €1,439 | ▲ 128% |
| Gross operating margin9900 | €22,173 | €36,152 | €21,463 | €24,044 | €26,023 | ▲ 8.2% |
| Operating profit (loss)9901 | €11,482 | €26,352 | €13,042 | €22,446 | €23,616 | ▲ 5.2% |
| Financial income75/76B | - | €3,006 | €4,282 | €4,213 | €6,265 | ▲ 48.7% |
| Recurring financial income75 | €3,419 | €3,006 | €4,282 | €4,213 | €6,265 | ▲ 48.7% |
| Financial charges65/66B | - | €682 | €545 | €895 | €730 | ▼ 18.4% |
| Recurring financial charges65 | €1,959 | €682 | €545 | €895 | €730 | ▼ 18.4% |
| Profit (loss) for the period before taxes9903 | €12,942 | €28,676 | €16,779 | €25,764 | €29,152 | ▲ 13.1% |
| Income taxes67/77 | €3,745 | €4,125 | €6,009 | €7,474 | €10,234 | ▲ 36.9% |
| Profit (loss) for the period9904 | €9,197 | €24,550 | €10,771 | €18,291 | €18,918 | ▲ 3.4% |
| Profit (loss) for the period to be appropriated9905 | €9,197 | €24,550 | €10,771 | €18,291 | €18,918 | ▲ 3.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €65,350 | €67,128 | €74,837 | €93,857 | €116,245 | ▲ 23.9% |
| Fixed assets21/28 | €14,622 | €6,539 | €2,302 | €1,334 | €366 | ▼ 72.6% |
| Tangible fixed assets22/27 | €14,529 | €6,447 | €2,209 | €1,241 | €273 | ▼ 78.0% |
| Furniture and vehicles24 | - | - | €2,209 | €1,241 | €273 | ▼ 78.0% |
| Leasing and similar rights25 | - | €6,447 | - | - | - | - |
| Financial fixed assets28 | €93 | €93 | €93 | €93 | €93 | = |
| Current assets29/58 | €50,728 | €60,589 | €72,535 | €92,524 | €115,880 | ▲ 25.2% |
| Amounts receivable within one year40/41 | €50,419 | €60,589 | €72,535 | €92,154 | €115,880 | ▲ 25.7% |
| Trade receivables40 | - | €4,453 | €3,675 | €859 | €415 | ▼ 51.7% |
| Other amounts receivable41 | - | €56,136 | €68,861 | €91,295 | €115,465 | ▲ 26.5% |
| Deferred charges and accrued income490/1 | - | - | - | €370 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €65,350 | €67,128 | €74,837 | €93,857 | €116,245 | ▲ 23.9% |
| Equity10/15 | €25,167 | €49,717 | €60,488 | €78,778 | €97,696 | ▲ 24.0% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €8,060 | €8,060 | = |
| Capital10 | - | €6,200 | €6,200 | - | - | - |
| Issued capital100 | - | €18,600 | €18,600 | - | - | - |
| Uncalled capital101 | - | €12,400 | €12,400 | - | - | - |
| Reserves13 | €18,967 | €43,517 | €54,288 | €70,718 | €89,636 | ▲ 26.8% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €41,657 | €52,428 | €70,718 | €89,636 | ▲ 26.8% |
| Amounts payable17/49 | €40,183 | €17,411 | €14,349 | €15,079 | €18,549 | ▲ 23.0% |
| Amounts payable after more than one year17 | €2,046 | - | - | - | - | - |
| Amounts payable within one year42/48 | €38,137 | €17,411 | €14,349 | €15,079 | €18,549 | ▲ 23.0% |
| Current portion of amounts payable after more than one year42 | - | €1,365 | €972 | €1,023 | €3,058 | ▲ 199% |
| Financial debts43 | - | €4,744 | €4,940 | €4,908 | €5,022 | ▲ 2.3% |
| Credit institutions430/8 | - | €4,744 | €4,940 | €4,908 | €5,022 | ▲ 2.3% |
| Trade debts44 | €13,263 | €2,068 | €1,008 | €216 | - | - |
| Suppliers440/4 | - | €2,068 | €1,008 | €216 | - | - |
| Taxes, remuneration and social security45 | - | €9,234 | €7,429 | €8,932 | €10,469 | ▲ 17.2% |
| Taxes450/3 | - | €9,219 | €7,364 | €8,818 | €10,403 | ▲ 18.0% |
| Remuneration and social security454/9 | - | €15 | €65 | €114 | €66 | ▼ 42.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,197 | €24,550 | €10,771 | €18,291 | €18,918 | ▲ 3.4% |
| + Depreciation and write-downs630 | €7,924 | €8,082 | €7,142 | €968 | €968 | = |
| Operating cash flow (approximation) | €17,121 | €32,632 | €17,912 | €19,259 | €19,886 | ▲ 3.3% |
| Investment in fixed assets (approximation) | - | €0 | -€2,904 | €0 | €0 | - |
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
28-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
31-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
28-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
30-12
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
30-06
Financial
Highest result since 2019net €24,550 ▲167%
Operating result €26,352, net result €24,550, both a record.
30-06
Financial
Liquidity triplescurrent ratio 3.48
Current ratio from 1.33 to 3.48; short-term debt falls from €38,137 to €17,411.
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
22-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
08-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Ingelmunster · 1 establishment unit since 2016
Ground area
271 m²
Building footprint
88 m²
Volume, LiDAR
77 m³
Parcel 36007B0310/00G002, Flanders · tallest building 3.6 m. Linked by address, not a title deed.
1 establishment unit
Adlin
since 20162.254.841.511
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36007B0310/00G002 | Flanders | 271 m² | 1 · 87 m² | 3.6 m |
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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HS BOUW
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AMENAGEMENTS STEPHANE FORTEMPS
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Of 8,464 companies in sector 43120 we hold annual accounts for 3,233. 2,651 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
Founded14-07-2016
Fiscal year end30-06
Activities, NACEBEL 2025
43120Site preparation
01610Support activities for crop production
Contact
E-mail
polliechristof@gmail.comIngelmunster
E-invoicing
Reachable via Peppol
Peppol ID
0208:0658990878
Also
9925:BE0658990878
Registered
02-06-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.