Equity
€278,374 from €4.1m in 2024
Equity fell by 93% in 1 year.
ADRENALIGNE
Lifetime
17 annual accounts with figures on one time axispeak €29,894 (2025)
€29,894▲ €30,920
lowest -€3.8m (2025)
-€3.8m▼ €3.8m
peak €4.1m (2024)
€278,374▼ 93.2%
€308,185▼ 2.9%
Board4 names since 2018
1 directorLIMBOSCH Cécile
Documentsfilings and deeds
27-05-202665 days before the deadline
2025abbreviated format
Gross margin from -€1,026 to €29,894Loss of €3.8mMerger: ADRENALIGNE takes over PHILIPPE TOME 17-07Merger proposal: ADRENALIGNE takes over PHILIPPE TOME 02-04Equity from €4.1m to €278,374Cash from €200 to €67,408
Key points
from the 2025 annual accountsResult
-€3.8m -€3.8m
From profit to loss in 2025, after a profit of €42,180 in 2024.
Investments
€497,793 23.8 × depreciation
Green is investment, beige is depreciation.
Filings
17 annual accounts 18 filings since 2009
The last five annual accounts were filed 34 to 154 days before the end of the period.
Restructuring
2025
Merger with PHILIPPE TOME. Merger on 17-07-2025.
Position in the sector
-€3.8m
Lower net result than 95% of companies in publishing. Sector median €14,623 · 325 companies.
Equity -93%: merger
Checked score
54
Fair
Financially stronger than 22% of micro companies in publishing (NACE 58)
Probability in this band: 1.5% to 4.2%
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 1,282 companies (NACE 58, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.2%● unchanged vs 09-2025
11-2025: 0.2%● unchanged vs 10-2025
12-2025: 0.2%● unchanged vs 11-2025
01-2026: 0.2%● unchanged vs 12-2025
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.1%▼ -0.1 percentage points vs 03-2026lowest value
05-2026: 0.1%● unchanged vs 04-2026lowest value
06-2026: 0.2%▲ +0.1 percentage points vs 05-2026highest value
07-2026: 0.2%● unchanged vs 06-2026highest value
08-2026: 0.2%● unchanged vs 07-2026highest value
09-2026: 0.2%● unchanged vs 08-2026highest value
10-2026: 0.2%● unchanged vs 09-2026highest value
11-2026: 0.2%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year
Loss of €3.8m (financial year 2025)
lowers risk
Size: total assets €586,559
Sector: Publishing activities (NACE 58)
Figures for financial year 2025 (filed on 27-05-2026)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 58, micro). It does better than 51% of them on solvency, 24% on liquidity, 8% on profitability and 7% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 376 companies had the same profile as ADRENALIGNE has now. Each dot is one company, two years later.
91.8%
were still trading
7.2%
stopped another way
0.8%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ADRENALIGNE itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 376 companies, not a prediction for ADRENALIGNE. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €15,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.23 (0.04 in 2024), below 1. Short-term debt is 52.5% and cash 11.5% of total assets. 52.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 25-03-2026, 128 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
128 days early
2024
154 days early
2023
55 days early
2022
56 days early
2021
34 days early
2020
30 days early
2019
42 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 71 days before the deadline. In the sector (NACE 58), the median for financial year 2024 was 7 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 5 June (4 of the last 5 accounts filed within 72 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0810537839
Merger: ADRENALIGNE takes over PHILIPPE TOME
Appointment: LIMBOSCH Cécile (director) · The company holds all the shares of PHILIPPE TOME · General meeting of 27-06-2025 · Gazette deed
Merger proposal: ADRENALIGNE takes over PHILIPPE TOME
Board meeting of 28-02-2025 · Gazette deed
Resignation: Zoé VANDEVELDE (director)
Appointment: Cécile LIMBOSCH (director) · General meeting of 15-11-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ADRENALIGNE Watermael-Boitsfort | €3.5m | €29,894 | 91.3% | - |
| COMMUNICATIONS ET EDITIONS CAMILLE Watermael-Boitsfort | €1.4m | €40,130 | 41.4% | - |
| CAÏRA EDITION Woluwe-Saint-Lambert | €1.1m | €60,003 | 55.0% | - |
| NIFFLE Uccle | €1.7m | €168,828 | 94.8% | - |
| LUSTER Antwerp | €1.2m | €100,362 | 15.8% | 1.9 |
| ANTIGONE Ixelles | €4.4m | €334,745 | 76.8% | 1.3 |
| VCLB SERVICE Schaerbeek | €0.7m | €64,672 | 20.7% | 0.2 |
These companies have the same main activity as ADRENALIGNE: book publishing (NACE 58110). They are comparable in size and age: total assets between €723,000 and €4.4m, founded between 1999 and 2006.
Official details
Source: KBO- Status
- Active since 19-03-2009Normal situation
- Activity
- Book publishingNACE 58110and 6 others
- Establishment unit
- 2.198.555.4781170 Watermael-Boitsfort, since 19-03-2009
- Financial year end
- 31 December
- Peppol
- Reachable since 19-12-2025
Annual accounts 2025
- ≈ €110,000estimated
- €586,559▼ 86.7%
- Filing
- Filed on 27-05-2026, 128 days before the end of the filing period
Insights on ADRENALIGNE
ADRENALIGNE files the abbreviated format. That format states no turnover. The gross margin rose from -€9,606 in 2009 to €29,894 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ADRENALIGNE
- What is the company number of ADRENALIGNE?
- The company number of ADRENALIGNE is 0810.537.839. The VAT number is the same number with BE in front: BE 0810.537.839.
- Where is ADRENALIGNE based?
- The registered office is at Tuintjeslaan 2, 1170 Watermael-Boitsfort.Company details
- What does ADRENALIGNE do?
- According to the KBO register, the main activity is book publishing (NACE 58110).
- What is the legal form of ADRENALIGNE?
- ADRENALIGNE is a private limited company (pre-2019) (BVBA).
- When was ADRENALIGNE founded?
- ADRENALIGNE was founded on 19-03-2009.
- Is ADRENALIGNE still active?
- Yes, ADRENALIGNE is an active enterprise in the KBO register.
- What is the turnover of ADRENALIGNE?
- The turnover in financial year 2025 is ≈ €110,000. This figure is estimated from the gross margin of €29,894 and 1,231 comparable companies of the same size. It probably lies between €57,000 and €200,000. It is a rough estimate.Financials
- Is ADRENALIGNE profitable?
- In financial year 2025, ADRENALIGNE made a loss of €3.8m.
- Where can I find the annual accounts of ADRENALIGNE?
- ADRENALIGNE filed 18 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ADRENALIGNE due?
- ADRENALIGNE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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