ADR Construct

Active Private limited companyfounded 1991active for 35 yearsHerentalsebaan 451, 2160 WommelgemKBO/BCE: BE 0443.354.138 subsidiary of Machaman

ADR Construct

Financial year 2025

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Annual accounts 2025

abbreviated format, filed on 16-07-2026, 15 days before the deadline

€797,544

▼ 26.0%

-€291,404

▼ €325,389

-€272,683

▼ €315,650

-€68,961

▼ €285,044

2.4%

▼ 30.8 percentage points

0.88

▼ 0.49

Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €2.3m. Estimated: probably between €1.7m and €2.9m.

Balance sheet

balance sheet total €601,860 on 31-12-2025

What the company ownsHow it is paid for

in euro

Position in the sector

Compare with sector

2.4%

Higher than 9% of 9,967 companies in 2025.

0.88

Higher than 14% of 9,830 companies in 2025.

-45.3%

Lower than 95% of 9,899 companies in 2025.

ADR Construct Middle half of the sector 80% of the sector Abbreviated accounts in specialised construction (NACE 43)

Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter · Staff: top quarter

Staff

€68,986

Staff costs divided by the average number of full-time equivalents.

level

people who joined people who left

In 2025, 1 person joined and 1 left. Training hours in 2025: 12.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
`20/58`	601,860	865,589	942,404	1.1m	1.8m	1.6m	1.6m	1.5m	1.6m	1.6m	1.9m	2.0m	2.0m	2.1m	2.5m	2.3m	2.0m	2.1m	2.1m	2.2m
`21/28`	83,380	71,019	57,396	41,104	854,871	923,003	946,107	1.0m	1.1m	1.2m	1.2m	1.3m	1.3m	1.4m	1.5m	1.7m	1.5m	1.6m	1.7m	1.7m
`21`	-	0	170	1,471	3,765	4,629	-	-	-	667	3,319	4,049	157	208	2,577	9,055	9,467	-	3,760	7,521
`22/27`	44,128	31,767	57,226	39,508	847,360	914,630	945,847	1.0m	1.1m	1.2m	1.2m	1.3m	1.3m	1.4m	1.5m	1.7m	1.5m	1.6m	1.7m	1.7m
`23`	8,927	12,325	9,962	6,131	8,420	1,450	2,175	2,900	758	1,974	3,447	1,727	1,687	3,368	3,998	8,903	12,712	5,923	11,431	25,302
`24`	11,646	12,685	12,560	17,805	26,549	37,738	7,645	2,410	2,729	4,686	5,261	5,459	10,180	8,232	12,380	28,270	37,136	52,067	29,511	25,077
`25`	-	-	-	0	774,928	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`26`	23,556	6,757	34,703	15,571	37,463	60,559	81,190	113,282	143,720	177,584	151,591	188,227	235,782	284,457	337,582	410,248	166,797	197,986	225,957	129,562
`28`	39,252	39,252	0	125	3,745	3,745	260	760	760	780	625	125	625	625	2,375	1,625	875	125	-	175
`29/58`	518,480	794,570	885,008	1.1m	902,735	722,691	684,264	523,659	539,923	489,418	724,323	728,140	616,119	711,150	949,181	576,804	489,142	517,321	422,125	498,792
`3`	179,960	281,558	224,375	293,649	293,083	193,309	191,479	165,901	164,850	156,177	141,111	139,335	119,351	115,766	114,211	132,526	110,269	94,626	106,800	55,243
`30/36`	179,960	281,558	224,375	293,649	293,083	193,309	191,479	165,901	164,850	156,177	141,111	139,335	119,351	115,766	114,211	132,526	110,269	94,626	106,800	55,243
`40/41`	104,781	276,833	207,083	352,591	215,844	207,144	322,761	179,085	289,146	256,951	354,542	268,997	296,915	285,351	235,814	147,838	117,571	169,492	203,749	348,642
`40`	103,742	248,340	193,007	277,378	193,186	199,911	314,256	172,792	282,822	241,301	346,004	244,101	275,789	245,032	235,814	117,824	79,068	82,122	145,975	88,390
`41`	1,040	28,493	14,077	75,213	22,658	7,233	8,505	6,293	6,324	15,649	8,539	24,896	21,126	40,319	-	30,014	38,503	87,369	57,773	260,252
`50/53`	0	2,058	-	0	7,832	7,832	7,832	7,832	15,664	15,664	15,664	15,664	15,664	45,664	15,664	15,664	15,664	170,000	-	-
`54/58`	212,744	202,736	451,585	453,115	384,150	311,045	162,191	170,841	70,263	59,053	208,844	304,144	184,189	256,539	576,998	280,776	244,387	75,299	106,695	86,451
`490/1`	20,995	31,384	1,964	3,595	1,827	3,362	-	-	-	1,574	4,162	-	-	7,830	6,494	-	1,251	7,904	4,881	8,457
Balance sheet: equity and liabilities
`10/49`	601,860	865,589	942,404	1.1m	1.8m	1.6m	1.6m	1.5m	1.6m	1.6m	1.9m	2.0m	2.0m	2.1m	2.5m	2.3m	2.0m	2.1m	2.1m	2.2m
`10/15`	14,419	287,101	287,101	281,128	830,468	821,804	800,198	784,528	799,546	829,611	838,761	851,152	759,080	791,141	628,634	610,661	580,540	549,719	522,613	520,728
`10/11`	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000
`100`	-	-	-	-	-	-	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000
`13`	262,101	262,101	262,101	256,128	805,468	796,804	775,198	759,528	774,546	804,611	813,761	826,152	734,080	766,141	603,634	585,661	555,540	524,719	497,613	495,728
`130/1`	-	-	0	2,500	2,500	2,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`130`	-	-	-	-	-	-	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500
`1311`	-	-	0	2,500	2,500	2,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`132`	-	-	-	-	-	-	0	8,149	35,517	76,569	90,253	103,937	192,622	206,306	145,850	162,011	179,967	199,919	222,087	246,718
`133`	262,101	262,101	262,101	253,628	802,968	794,304	772,698	748,879	736,529	725,542	721,008	719,715	538,958	557,336	455,284	421,150	373,073	322,301	273,026	246,510
`14`	-272,683	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`16`	-	-	-	-	-	-	0	3,410	16,890	37,110	43,850	50,589	57,329	64,069	71,233	79,193	88,037	97,864	108,782	120,914
`168`	-	-	-	-	-	-	0	3,410	16,890	37,110	43,850	50,589	57,329	64,069	71,233	79,193	88,037	97,864	108,782	120,914
`17/49`	587,442	578,487	655,302	862,927	927,138	823,890	830,172	749,865	806,200	783,088	1.0m	1.1m	1.1m	1.3m	1.8m	1.6m	1.3m	1.5m	1.5m	1.5m
`17`	-	-	0	728	116,267	224,978	300,905	388,887	471,347	548,631	621,064	688,950	772,992	867,624	958,512	1.0m	976,799	1.0m	1.1m	1.1m
`170/4`	-	-	0	728	116,267	224,978	300,905	388,887	471,347	548,631	621,064	688,950	772,992	867,624	958,512	1.0m	976,799	1.0m	1.1m	1.1m
`42/48`	587,442	578,487	655,302	862,199	805,372	596,358	526,871	359,471	333,549	234,458	399,547	391,645	369,713	419,726	826,700	523,331	347,352	425,442	397,224	402,866
`42`	0	58,500	728	147,160	134,416	125,096	118,710	105,611	100,661	72,433	82,886	119,042	94,632	90,889	87,381	91,323	58,452	59,957	55,108	57,356
`43`	152,915	138	-	-	-	-	-	-	-	-	16,833	-	-	-	-	-	-	-	-	-
`430/8`	152,915	138	-	-	-	-	-	-	-	-	16,833	-	-	-	-	-	-	-	-	-
`44`	137,992	211,524	115,052	146,192	167,177	124,620	122,413	84,902	56,903	65,833	73,510	64,642	85,672	92,404	120,402	31,590	16,167	40,204	56,442	234,073
`440/4`	137,992	211,524	115,052	146,192	167,177	124,620	122,413	84,902	56,903	65,833	73,510	64,642	85,672	92,404	120,402	31,590	16,167	40,204	56,442	234,073
`46`	34,887	84,300	192,230	265,403	247,390	160,700	128,233	62,850	66,200	21,250	70,700	90,500	70,755	86,600	350,403	212,248	131,214	213,060	215,037	54,445
`45`	182,512	115,958	147,292	103,444	106,389	85,942	90,515	79,108	79,785	74,942	90,618	117,461	88,655	99,833	88,515	48,170	41,519	37,222	30,636	26,992
`450/3`	26,147	25,426	41,480	131	7,906	10,341	21,072	3,824	12,914	3,181	19,853	16,211	1,019	7,650	5,941	789	-	800	800	1,815
`454/9`	156,365	90,533	105,812	103,313	98,483	75,601	69,443	75,284	66,871	71,761	70,765	101,250	87,636	92,183	82,574	47,381	41,519	36,422	29,836	25,177
`47/48`	79,136	108,067	200,000	200,000	150,000	100,000	67,000	27,000	30,000	-	65,000	-	30,000	50,000	180,000	140,000	100,000	75,000	40,000	30,000
`492/3`	-	-	-	0	5,499	2,554	2,396	1,507	1,304	-	-	-	-	-	-	-	-	-	-	-
Income statement
`76A`	-	-	0	8,836	2,066	3,108	1,946	-	-	-	-	-	2,066	-	-	-	3,165	-	413	-
`9900`	797,544	1.1m	1.4m	1.4m	1.2m	1.0m	983,572	904,458	771,930	884,202	1.0m	977,446	859,958	1.1m	1.1m	1.0m	905,073	764,785	599,046	501,990
`62`	1.1m	989,023	943,978	967,327	889,697	758,920	792,064	821,567	706,518	772,950	799,677	712,752	692,061	695,410	573,627	551,981	519,042	423,309	341,762	305,401
`630`	13,861	41,727	17,989	810,147	90,044	85,643	79,000	77,623	77,659	93,544	100,680	95,934	106,766	116,467	153,424	171,292	132,664	147,530	140,435	208,424
`631/4`	-	-	-	-	0	3,171	-	-	-	-	-	-	-	3,114	-	-	7,350	-	-	-
`635/8`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-32,920
`640/8`	12,700	13,278	12,370	11,563	11,146	10,710	11,461	11,215	10,399	16,439	10,746	8,783	6,939	7,226	7,746	6,230	14,876	1,766	3,046	6,300
`66A`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	933	-	-	-	-
`9901`	-291,404	33,985	419,852	-366,910	200,653	165,362	101,047	-5,947	-22,645	1,269	97,338	159,977	54,192	238,873	335,561	272,276	231,142	192,180	113,803	14,786
`75/76B`	28,888	35,710	33,532	39,525	37,179	31,401	32,890	36,339	24,046	30,205	31,854	29,114	23,924	27,198	24,892	21,852	24,432	29,899	23,167	142,945
`75`	28,888	35,710	33,532	39,525	37,179	31,401	32,890	36,339	24,046	30,205	31,854	29,114	23,924	27,198	24,892	21,852	24,432	29,899	23,167	142,945
`65/66B`	8,970	1,775	6,076	21,330	19,588	25,944	31,960	45,183	41,454	44,232	48,717	52,740	77,859	62,268	67,221	68,206	69,759	71,971	76,546	29,859
`65`	8,970	1,775	6,076	21,330	19,588	25,944	31,960	45,183	41,454	44,232	48,717	52,740	77,859	62,268	67,221	68,206	69,759	71,971	76,546	29,859
`9903`	-271,486	67,921	447,309	-348,715	218,244	170,819	101,977	-14,791	-40,054	-12,758	80,475	136,352	2,323	203,803	293,232	224,989	188,980	150,108	60,837	127,873
`67/77`	1,197	24,954	41,335	625	59,581	49,213	39,716	13,707	10,231	3,132	34,606	51,019	11,125	48,459	103,219	63,712	67,986	58,920	31,083	20,274
`9904`	-272,683	42,967	405,973	-349,340	158,664	121,606	66,076	-15,018	-30,065	-9,150	52,609	92,073	-2,061	162,507	197,973	170,120	130,821	102,106	41,885	121,483
`789`	-	-	-	-	-	0	7,743	27,368	41,052	13,684	13,684	13,684	13,684	14,545	16,161	17,956	19,951	22,168	24,631	26,964
`689`	-	-	-	-	-	-	-	-	-	-	-	-	-	75,000	-	-	-	-	-	-
`9905`	-272,683	42,967	405,973	-349,340	158,664	121,606	73,820	12,350	10,987	4,534	66,293	105,757	11,623	102,052	214,134	188,077	150,773	124,274	66,517	148,447
Appropriation of the result
`9906`	-272,683	42,967	405,973	-349,340	158,664	121,606	73,820	12,350	10,987	4,534	66,293	105,757	11,623	102,052	214,134	188,077	150,773	124,274	66,517	148,447
`791/2`	-	0	200,000	549,340	-	-	-	-	-	-	-	-	18,377	-	-	-	-	-	-	-
`691/2`	-	0	205,973	0	8,664	21,606	23,820	12,350	10,987	4,534	1,293	105,757	-	102,052	34,134	48,077	50,773	49,274	26,517	118,447
`6921`	-	0	205,973	0	8,664	21,606	23,820	12,350	10,987	4,534	1,293	105,757	-	102,052	34,134	48,077	50,773	49,274	26,517	118,447
`694/7`	0	42,967	400,000	200,000	150,000	100,000	50,000	-	-	-	65,000	-	30,000	-	180,000	140,000	100,000	75,000	40,000	30,000
`694`	0	42,967	400,000	200,000	150,000	100,000	50,000	-	-	-	65,000	-	30,000	-	180,000	140,000	100,000	75,000	40,000	30,000
Social balance sheet
`9087`	15.4	14.8	16	16	15.4	14.9	14.3	15	15	15.9	15.8	15.3	14.9	15	12	11.9	11.7	10.1	9.3	8.3
Hours worked`1013`	22,883	22,241	22,286	24,577	23,538	20,217	20,787	22,450	20,997	24,559	24,845	23,042	21,768	23,177	19,109	19,253	18,636	17,106	15,025	13,310
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for 15 older financial years (1991-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 16 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 16-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
31-12-2025	abbreviated format	16-07-2026	2026-00300032	PDF
31-12-2024	abbreviated format	03-06-2025	2025-00114932	PDF
31-12-2023	abbreviated format	06-05-2024	2024-00082187	PDF
31-12-2022	abbreviated format	28-06-2023	2023-00167910	PDF
31-12-2021	abbreviated format	30-06-2022	2022-20110024	PDF
31-12-2020	abbreviated format	22-06-2021	2021-23000251	PDF
31-12-2019	abbreviated format	24-07-2020	2020-34700113	PDF
31-12-2018	abbreviated format	08-07-2019	2019-31200113	PDF
31-12-2017	abbreviated format	11-07-2018	2018-31700589	PDF
31-12-2016	abbreviated format	10-07-2017	2017-30400261	PDF
31-12-2015	abbreviated format	21-06-2016	2016-20500579	PDF
31-12-2014	abbreviated format	15-07-2015	2015-32800514	PDF
31-12-2013	abbreviated format	10-07-2014	2014-29600337	PDF
31-12-2012	abbreviated format	11-07-2013	2013-29100360	PDF
31-12-2011	abbreviated format	21-06-2012	2012-19700324	PDF
31-12-2010	abbreviated format	24-06-2011	2011-20600161	PDF
31-12-2009	abbreviated format	10-06-2010	2010-16900281	PDF
31-12-2008	abbreviated format	12-05-2009	2009-14500045	PDF
31-12-2007	abbreviated format	09-07-2008	2008-39100336	PDF
31-12-2006	abbreviated format	31-07-2007	2007-53600399	PDF
31-12-2005	abbreviated format	23-06-2006	2006-30702092	PDF
31-12-2004	abbreviated format	21-06-2005	2005-29701599	PDF
31-12-2003	abbreviated format	25-06-2004	2004-32201078	PDF
31-12-2002	abbreviated format	17-06-2003	2003-25100314	PDF
31-12-2001	abbreviated format	02-05-2002	2002-11203068	PDF
31-12-2000	abbreviated format	04-07-2001	2001-33501061	PDF
31-12-1999	abbreviated format	28-06-2000	2000-30500309	PDF
31-12-1998	abbreviated format	06-09-1999	1999-44500500	PDF
31-12-1997	abbreviated format	01-07-1998	1998-27401052	PDF
31-12-1996	abbreviated format	06-06-1997	1997-12703421	PDF
31-12-1995	abbreviated format	11-06-1996	1996-14705016	PDF
31-12-1994	abbreviated format	29-08-1995	1995-47104421	PDF
31-12-1993	abbreviated format	06-07-1994	1994-26802715	PDF
31-12-1992	abbreviated format	06-07-1993	1993-23200941	PDF
31-12-1991	abbreviated format	07-09-1992	1992-30802392	PDF

Subsidies and aid

Flemish government 2022, 1 entry, €1,800 awarded, €1,800 paid

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

€1,800

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
-277,543	75,713	437,842	443,238	290,697	251,006	180,047	71,676	55,013	94,813	198,017	255,911	160,958	355,340	488,985	443,568	363,805	339,710	254,238	223,210
-258,822	84,694	423,963	460,807	248,707	207,249	145,076	62,605	47,593	84,394	153,288	188,006	104,704	278,975	351,397	341,413	263,485	249,636	182,321	329,907
26,222	55,350	34,407	-3,620	21,911	64,740	11,463	9,053	500	75,038	25,380	7,636	18,352	13,728	7,049	350,912	45,295	68,246	151,714	1.8m
10,008	-248,848	-1,530	68,965	73,105	148,853	-8,650	100,579	11,210	-149,791	-95,300	119,955	-72,350	-320,459	296,222	36,389	169,088	-31,396	20,244	-
-68,961	216,082	229,705	240,752	97,364	126,333	157,393	164,189	206,373	254,960	324,776	336,495	246,405	291,425	122,481	53,473	141,790	91,879	24,902	95,927
2.4%	33.2%	30.5%	24.6%	47.2%	49.9%	49.1%	51.0%	49.3%	50.3%	44.1%	42.9%	38.7%	36.9%	25.3%	27.0%	29.1%	26.1%	25.0%	24.1%
0.88	1.37	1.35	1.28	1.12	1.21	1.30	1.46	1.62	2.09	1.81	1.86	1.67	1.69	1.15	1.10	1.41	1.22	1.06	1.24
0.58	0.89	1.01	0.94	0.76	0.89	0.94	1.00	1.12	1.42	1.46	1.50	1.34	1.42	1.01	0.85	1.09	0.99	0.79	1.10
40.74	2.01	2.28	3.07	1.12	1.00	1.04	0.96	1.01	0.94	1.22	1.27	1.51	1.63	2.84	2.57	2.28	2.66	2.80	2.91
-	15.0%	141.4%	-124.3%	19.1%	14.8%	8.3%	-1.9%	-3.8%	-1.1%	6.3%	10.8%	-0.3%	20.5%	31.5%	27.9%	22.5%	18.6%	8.0%	23.3%
-45.3%	5.0%	43.1%	-30.5%	9.0%	7.4%	4.1%	-1.0%	-1.9%	-0.6%	2.8%	4.6%	-0.1%	7.6%	8.0%	7.5%	6.6%	4.8%	2.0%	5.6%
-30.94	42.65	72.06	20.78	14.84	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

A ratio outside any meaningful range has been withheld (balance sheet total €601,860, equity €14,419).

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	15	15	16	18	16
full-time	14	14	14	15	15
part-time	1	1	2	3	1
in full-time equivalents	14.8	14.7	15.2	16.4	15.4
	15.4	14.8	16	16	15.4
On a permanent contract	15	15	16	18	16
Joined	1	0	0	3	0
Left	1	1	2	1	1
Training hours	12	-	-	-	-

Source: social balance sheet in the 2021 to 2025 annual accounts

Securities and guarantees

on own assets and for others

Item	2025	2024	2023	2022	2021
Debts secured on the company's own assets	€150,477	-	-	-	-

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€26,222	€16,098	€34,407	-	€20,650
Intangible fixed assets	-	-	-	-	€1,261
Financial fixed assets	€0	€39,252	-	-	-
	€13,861	€41,727	€17,989	€810,147	€90,044

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on ADR Construct

The operating result for 2025 is a loss of €291,404, after a profit of €33,985 in 2024. It is the lowest result since 2022.

Debt's share of the balance-sheet total rises from 66.8% to 97.6%. Equity is lower and debt is higher.

Next steps

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Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency2.4%

Current ratio0.88

Return on assets-45.3%

Staff

Staff cost per FTE€68,986

Joined and leftlevel

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022, 1 entry, €1,800 awarded, €1,800 paid

Key figures and ratios

Social balance sheet

Securities and guarantees

Investments

Insights on ADR Construct

Next steps

in euro

in euro

2.4%

0.88

-45.3%

€68,986

level