ADNL
ActiveSummary
ADNL has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€34,487) and a net result of €756. Equity is shrinking by ~5% per year across the filed fiscal years. Its solvency ranks better than 9% of 11502 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability44▲+13
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
cash: 0.5% of total assets, and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-116.7%
Return on assets
2.6%
Age of the figures
10 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 11502 sector peers (2025).
NBB · sector comparisonPosition among 11502 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-11-2025 was due by 30-06-2026 and was filed on 12-06-2026, 18 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
18 d early
2024
53 d early
2023
45 d early
2022
45 d early
2021
49 d early
2020
42 d early
2019
49 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 43 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-11-2026 and is due by 30-06-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-11-2026 close30-06-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€34,487▲ 2.1%
2024 · -€35,243
Total assets
€29,561▲ 0.3%
2024 · €29,484
Net result
€756
2024 · -€741
Working capital
-€35,243▼ 2.1%
2023 · -€34,502
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale 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-€1,470▼ 44.3%-€2,835▼ 92.9%-€1,317▲ 53.5%-€674▲ 48.8%€828
Net result-€1,514within the sector's middle half▼ 48.6%-€2,879within the sector's middle half▼ 90.2%-€1,372within the sector's middle half▲ 52.3%-€741within the sector's middle half▲ 46.0%€756within the sector's middle half
Equity-€30,251below the sector's middle half▼ 5.3%-€33,130below the sector's middle half▼ 9.5%-€34,502below the sector's middle half▼ 4.1%-€35,243below the sector's middle half▼ 2.1%-€34,487below the sector's middle half▲ 2.1%
Total assets€32,489below the sector's middle half▼ 4.6%€32,250below the sector's middle half▼ 0.7%€31,012below the sector's middle half▼ 3.8%€29,484below the sector's middle half▼ 4.9%€29,561below the sector's middle half▲ 0.3%
Debt€62,740▼ 0.1%€65,380▲ 4.2%€65,514▲ 0.2%€64,727▼ 1.2%€64,048▼ 1.0%
Working capital-€30,251below the sector's middle half▼ 5.3%-€33,130below the sector's middle half▼ 9.5%-€34,502below the sector's middle half▼ 4.1%-€35,243below the sector's middle half▼ 2.1%
Solvency-93.1%below the sector's middle half▼ 8.7pp-102.7%below the sector's middle half▼ 9.6pp-111.3%below the sector's middle half▼ 8.5pp-119.5%below the sector's middle half▼ 8.3pp-116.7%below the sector's middle half▲ 2.9pp
Current ratio0.52below the sector's middle half▼ 0.020.49below the sector's middle half▼ 0.020.47below the sector's middle half▼ 0.020.46below the sector's middle half▼ 0.02
Return on assets (ROA)-4.7%below the sector's middle half▼ 1.7pp-8.9%below the sector's middle half▼ 4.3pp-4.4%below the sector's middle half▲ 4.5pp-2.5%within the sector's middle half▲ 1.9pp2.6%within the sector's middle half▲ 5.1pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale 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: €828 after a loss of €674 in 2024, the highest result in the available series.
Key figures and ratios
Debt to equity
-1.86▼
2024 · -1.84
Debt > 1 year
€64,048
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,448 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.1%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 1.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,662 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% | 1.7% |
| 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 75% 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 1,448 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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €549 | €552 | €602 | €623 | €1,006 | ▲ 61.5% |
| Gross operating margin9900 | -€921 | -€2,283 | -€715 | -€51 | €1,834 | ▲ 3,696% |
| Operating profit (loss)9901 | -€1,470 | -€2,835 | -€1,317 | -€674 | €828 | ▲ 223% |
| Financial charges65/66B | €44 | €44 | €55 | €67 | €72 | ▲ 7.5% |
| Recurring financial charges65 | €44 | €44 | €55 | €67 | €72 | ▲ 7.5% |
| Profit (loss) for the period before taxes9903 | -€1,514 | -€2,879 | -€1,372 | -€741 | €756 | ▲ 202% |
| Profit (loss) for the period9904 | -€1,514 | -€2,879 | -€1,372 | -€741 | €756 | ▲ 202% |
| Profit (loss) for the period to be appropriated9905 | -€1,514 | -€2,879 | -€1,372 | -€741 | €756 | ▲ 202% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €32,489 | €32,250 | €31,012 | €29,484 | €29,561 | ▲ 0.3% |
| Current assets29/58 | €32,489 | €32,250 | €31,012 | €29,484 | €29,561 | ▲ 0.3% |
| Stocks and contracts in progress3 | €32,489 | €32,114 | €30,869 | €29,399 | €29,399 | = |
| Stocks30/36 | €32,489 | €32,114 | €30,869 | €29,399 | €29,399 | = |
| Cash at bank and in hand54/58 | - | €136 | €143 | €85 | €162 | ▲ 90.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €32,489 | €32,250 | €31,012 | €29,484 | €29,561 | ▲ 0.3% |
| Equity10/15 | -€30,251 | -€33,130 | -€34,502 | -€35,243 | -€34,487 | ▲ 2.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Issued capital100 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€48,851 | -€51,730 | -€53,102 | -€53,843 | -€53,087 | ▲ 1.4% |
| Amounts payable17/49 | €62,740 | €65,380 | €65,514 | €64,727 | €64,048 | ▼ 1.0% |
| Amounts payable after more than one year17 | - | - | - | - | €64,048 | - |
| Other amounts payable178/9 | - | - | - | - | €64,048 | - |
| Amounts payable within one year42/48 | €62,740 | €65,380 | €65,514 | €64,727 | - | - |
| Financial debts43 | €26 | - | - | - | - | - |
| Credit institutions430/8 | €26 | - | - | - | - | - |
| Other amounts payable47/48 | €62,714 | €65,380 | €65,514 | €64,727 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,514 | -€2,879 | -€1,372 | -€741 | €756 | ▲ 202% |
| Operating cash flow (approximation) | -€1,514 | -€2,879 | -€1,372 | -€741 | €756 | ▲ 202% |
| Change in cash | - | - | €7 | -€58 | €77 | ▲ 233% |
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
12-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-11
Financial
Back to profitnet €756
Net result €756 after 7 loss-making years.
08-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
12-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
12-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
22-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Mol · 1 establishment unit since 2005
Ground area
721 m²
Building footprint
218 m²
Volume, LiDAR
1,552 m³
2 parcels, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Isel
since 20052.146.651.273
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13025G0628/00Z013 | Flanders | 565 m² | 1 · 151 m² | 9.7 m · 2 fl. |
| 13435C1349/00F000 | Flanders | 156 m² | 1 · 67 m² | 8.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Aartselaar
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,743 companies in sector 46150 we hold annual accounts for 758. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-04-2005
Fiscal year end30-11
Abbreviation NL
ISEL
Activities, NACEBEL 2025
46150Agents in the wholesale of furniture, household goods and hardware
27510Manufacture of electrical equipment
73200Market research and public opinion polling
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0873378991
Registered
06-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.