ADRIMAR
ActiveSummary
ADRIMAR has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €272k and a net result of €98k. Equity is growing by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 46% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+11
Solvency52=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
Liquidity tight (current ratio 1.18 against 1.2 in 2024; short-term debt: 30.1% and cash: 5.1% of total assets), and 72.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
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
27.3%
Return on assets
9.8%
Age of the figures
9 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
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 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
21 d late
2023
22 d late
2022
27 d early
2021
60 d late
2020
26 d late
2019
23 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€272k▲ 11.4%
2024 · €244k
2018: €145k
2019: €150k▲ +3.6% vs 2018
2020: €117k▼ -21.9% vs 2019lowest in 8 years
2021: €149k▲ +26.8% vs 2020
2022: €171k▲ +15.4% vs 2021
2023: €217k▲ +26.4% vs 2022
2024: €244k▲ +12.7% vs 2023
2025: €272k▲ +11.4% vs 2024highest in 8 years
2018 → 2025
Total assets
€997k▲ 8.4%
2024 · €920k
2018: €426k
2019: €393k▼ -7.8% vs 2018lowest in 8 years
2020: €784k▲ +99.4% vs 2019
2021: €943k▲ +20.3% vs 2020
2022: €912k▼ -3.2% vs 2021
2023: €896k▼ -1.8% vs 2022
2024: €920k▲ +2.7% vs 2023
2025: €997k▲ +8.4% vs 2024highest in 8 years
2018 → 2025
Net result
€98k▲ 255%
2024 · €27k
2018: €-431
2019: €5k▲ +1303% vs 2018
2020: €-33k▼ -735% vs 2019lowest in 8 years
2021: €31k▲ +195% vs 2020
2022: €23k▼ -27.1% vs 2021
2023: €45k▲ +97.6% vs 2022
2024: €27k▼ -39.2% vs 2023
2025: €98k▲ +255% vs 2024highest in 8 years
2018 → 2025
Working capital
€53k▲ 44.5%
2024 · €37k
2018: €126k
2019: €140k▲ +11.5% vs 2018highest in 8 years
2020: €23k▼ -83.5% vs 2019
2021: €-24k▼ -206% vs 2020lowest in 8 years
2022: €-16k▲ +33.9% vs 2021
2023: €21k▲ +232% vs 2022
2024: €37k▲ +73.2% vs 2023
2025: €53k▲ +44.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€149k-€171k▲ 15.4%€217k▲ 26.4%€244k▲ 12.7%€272k▲ 11.4%
2021: €149klowest in 5 years
2022: €171k▲ +15.4% vs 2021
2023: €217k▲ +26.4% vs 2022
2024: €244k▲ +12.7% vs 2023
2025: €272k▲ +11.4% vs 2024highest in 5 years
Operating result€49k-€48k▼ 2.4%€78k▲ 63.0%€55k▼ 29.1%€123k▲ 123%
2021: €49k
2022: €48k▼ -2.4% vs 2021lowest in 5 years
2023: €78k▲ +63.0% vs 2022
2024: €55k▼ -29.1% vs 2023
2025: €123k▲ +123% vs 2024highest in 5 years
Net result€31k-€23k▼ 27.1%€45k▲ 97.6%€27k▼ 39.2%€98k▲ 255%
2021: €31k
2022: €23k▼ -27.1% vs 2021lowest in 5 years
2023: €45k▲ +97.6% vs 2022
2024: €27k▼ -39.2% vs 2023
2025: €98k▲ +255% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 123% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €997k
Fixed assets
€643k ▼ 7.8%
Current assets
€354k ▲ 58.9%
Equity and liabilities €997k
Equity
€272k ▲ 11.4%
Debt
€725k ▲ 7.3%
Debt's share of the balance-sheet total falls from 73.5% to 72.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€188k▲
2024 · €118k
Cash flow
€163k▲
2024 · €91k
Current ratio
1.18▼
2024 · 1.20
Quick ratio
0.72▼
2024 · 1.20
Debt to equity
2.66▼
2024 · 2.77
ROE
35.9%▲
2024 · 11.3%
ROA
9.8%▲
2024 · 3.0%
Interest coverage
10.69▲
2024 · 5.73
Debt ≤ 1 year
€300k▲
2024 · €186k
Debt > 1 year
€420k▼
2024 · €485k
Income taxes
€13k▲
2024 · €12k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€920k€997k▲
Fixed assets21/28€697k€643k▼
Tangible fixed assets22/27€697k€643k▼
Land and buildings22€487k€454k▼
Plant, machinery and equipment23€149k€138k▼
Furniture and vehicles24€60k€51k▼
Financial fixed assets28€188€188=
Current assets29/58€223k€354k▲
Stocks and contracts in progress3-€139k
Stocks30/36-€139k
Amounts receivable within one year40/41€163k€158k▼
Trade receivables40€24k€18k▼
Other amounts receivable41€139k€140k▲
Cash at bank and in hand54/58€54k€51k▼
Deferred charges and accrued income490/1€6k€6k▲
Equity and liabilities
Total equity and liabilities10/49€920k€997k▲
Equity10/15€244k€272k▲
Contributions10/11€19k€19k=
Reserves13€226k€254k▲
Distributable reserves133€226k€254k▲
Profit (loss) carried forward14-€0
Amounts payable17/49€676k€725k▲
Amounts payable after more than one year17€485k€420k▼
Financial debts170/4€485k€420k▼
Amounts payable within one year42/48€186k€300k▲
Current portion of amounts payable after more than one year42€66k€68k▲
Financial debts43€5k€3k▼
Credit institutions430/8€5k€3k▼
Trade debts44€35k€94k▲
Suppliers440/4€35k€94k▲
Taxes, remuneration and social security45€24k€8k▼
Taxes450/3€24k€8k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€56k€127k▲
Accrued charges and deferred income492/3€5k€5k▼
Income statement
Code20242025
Remuneration, social security and pensions62€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€63k€65k▲
Other operating charges640/8€14k€18k▲
Non-recurring operating charges66A€11k€536▼
Gross operating margin9900€142k€207k▲
Operating profit (loss)9901€55k€123k▲
Financial income75/76B€5k€6k▲
Recurring financial income75€5k€6k▲
Financial charges65/66B€21k€18k▼
Recurring financial charges65€21k€18k▼
Profit (loss) for the period before taxes9903€39k€111k▲
Income taxes67/77€12k€13k▲
Profit (loss) for the period9904€27k€98k▲
Profit (loss) for the period to be appropriated9905€27k€98k▲
Appropriation of the result
Profit (loss) to be appropriated9906€27k€98k▲
Transfer to equity691/2€27k€28k▲
To other reserves6921€27k€28k▲
Profit to be distributed694/7-€70k
Return on contributions (dividend)694-€2k
Directors or managers695-€68k
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (19 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €5k | €6k | €860 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €65k | €57k | €58k | €63k | €65k | ▲ 3.6% |
| Other operating charges640/8 | €10k | €12k | €13k | €14k | €18k | ▲ 33.9% |
| Non-recurring operating charges66A | €212 | €186 | €348 | €11k | €536 | ▼ 95.0% |
| Gross operating margin9900 | €129k | €123k | €151k | €142k | €207k | ▲ 45.4% |
| Operating profit (loss)9901 | €49k | €48k | €78k | €55k | €123k | ▲ 123% |
| Financial income75/76B | €4k | €4k | €4k | €5k | €6k | ▲ 13.2% |
| Recurring financial income75 | €4k | €4k | €4k | €5k | €6k | ▲ 13.2% |
| Financial charges65/66B | €18k | €19k | €18k | €21k | €18k | ▼ 14.5% |
| Recurring financial charges65 | €18k | €19k | €18k | €21k | €18k | ▼ 14.5% |
| Profit (loss) for the period before taxes9903 | €35k | €32k | €63k | €39k | €111k | ▲ 182% |
| Income taxes67/77 | €3k | €9k | €18k | €12k | €13k | ▲ 12.1% |
| Profit (loss) for the period9904 | €31k | €23k | €45k | €27k | €98k | ▲ 255% |
| Profit (loss) for the period to be appropriated9905 | €31k | €23k | €45k | €27k | €98k | ▲ 255% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €943k | €912k | €896k | €920k | €997k | ▲ 8.4% |
| Fixed assets21/28 | €810k | €774k | €729k | €697k | €643k | ▼ 7.8% |
| Tangible fixed assets22/27 | €810k | €773k | €728k | €697k | €643k | ▼ 7.8% |
| Land and buildings22 | €589k | €555k | €521k | €487k | €454k | ▼ 6.9% |
| Plant, machinery and equipment23 | €196k | €190k | €174k | €149k | €138k | ▼ 7.8% |
| Furniture and vehicles24 | €25k | €29k | €33k | €60k | €51k | ▼ 14.4% |
| Financial fixed assets28 | €188 | €188 | €188 | €188 | €188 | = |
| Current assets29/58 | €133k | €139k | €167k | €223k | €354k | ▲ 58.9% |
| Stocks and contracts in progress3 | - | - | - | - | €139k | - |
| Stocks30/36 | - | - | - | - | €139k | - |
| Amounts receivable within one year40/41 | €125k | €132k | €129k | €163k | €158k | ▼ 3.0% |
| Trade receivables40 | €21k | €27k | €21k | €24k | €18k | ▼ 24.5% |
| Other amounts receivable41 | €104k | €105k | €108k | €139k | €140k | ▲ 0.8% |
| Cash at bank and in hand54/58 | €2k | €549 | €31k | €54k | €51k | ▼ 5.7% |
| Deferred charges and accrued income490/1 | €6k | €6k | €7k | €6k | €6k | ▲ 4.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €943k | €912k | €896k | €920k | €997k | ▲ 8.4% |
| Equity10/15 | €149k | €171k | €217k | €244k | €272k | ▲ 11.4% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €131k | €153k | €198k | €226k | €254k | ▲ 12.4% |
| Non-distributable reserves130/1 | €2k | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €0 | - | - | - | - |
| Distributable reserves133 | €130k | €153k | €198k | €226k | €254k | ▲ 12.4% |
| Profit (loss) carried forward14 | €-2k | €0 | - | - | €0 | - |
| Amounts payable17/49 | €795k | €741k | €679k | €676k | €725k | ▲ 7.3% |
| Amounts payable after more than one year17 | €633k | €582k | €528k | €485k | €420k | ▼ 13.4% |
| Financial debts170/4 | €633k | €582k | €528k | €485k | €420k | ▼ 13.4% |
| Amounts payable within one year42/48 | €157k | €155k | €146k | €186k | €300k | ▲ 61.7% |
| Current portion of amounts payable after more than one year42 | €49k | €54k | €56k | €66k | €68k | ▲ 2.7% |
| Financial debts43 | - | €2k | €2k | €5k | €3k | ▼ 32.3% |
| Credit institutions430/8 | - | €2k | €2k | €5k | €3k | ▼ 32.3% |
| Trade debts44 | €15k | €7k | €8k | €35k | €94k | ▲ 167% |
| Suppliers440/4 | €15k | €7k | €8k | €35k | €94k | ▲ 167% |
| Taxes, remuneration and social security45 | €8k | €8k | €23k | €24k | €8k | ▼ 65.2% |
| Taxes450/3 | €8k | €8k | €23k | €24k | €8k | ▼ 65.2% |
| Remuneration and social security454/9 | €566 | €887 | €251 | €0 | - | - |
| Other amounts payable47/48 | €85k | €83k | €58k | €56k | €127k | ▲ 128% |
| Accrued charges and deferred income492/3 | €4k | €5k | €5k | €5k | €5k | ▼ 12.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31k | €23k | €45k | €27k | €98k | ▲ 255% |
| + Depreciation and write-downs630 | €65k | €57k | €58k | €63k | €65k | ▲ 3.6% |
| Operating cash flow (approximation) | €96k | €80k | €104k | €91k | €163k | ▲ 79.9% |
| Investment in fixed assets (approximation) | - | €-21k | €-13k | €-32k | €-11k | ▲ 64.6% |
| Change in cash | - | €-2k | €30k | €23k | €-3k | ▼ 113% |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €98k ▲255%
Operating result €123k, net result €98k, both a record.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 21 days late
2024
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 22 days late
2023
31-12
Financial
Equity above €200kEq €217k ▲26.4%
3 profitable years in a row build equity to €217k.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €150kEq €171k ▲15.4%
2 profitable years in a row build equity to €171k.
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 60 days late
2021
31-12
Financial
Back to profitnet €31k
Net result €31k after one loss-making year.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
31-12
Financial
Weakest financial yearnet €-33k
Net result drops to €-33k, the lowest in the series; recovery starts the following year.
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Back to profitnet €5k
Net result €5k after one loss-making year.
31-12
Financial
Equity above €150kEq €150k ▲3.6%
Equity rises from €145k to €150k.
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
29-06
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, Menen · 1 establishment unit since 2009
Ground area
4,369 m²
Building footprint
526 m²
Volume, LiDAR
4,631 m³
2 parcels, Flanders · tallest building 21.3 m, ±7 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ADRIMAR
since 20092.183.147.029
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34024B0011/00F000 | Flanders | 3,505 m² | 1 · 374 m² | 8.7 m · 2 fl. |
| 35302C0382/02S004 | Flanders | 864 m² | 1 · 152 m² | 21.3 m · 7 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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Of 3,761 companies in sector 68321 we hold annual accounts for 1,391. 987 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
Founded18-11-2009
Fiscal year end31-12
Activities, NACEBEL 2025
68321Property management for co-owned buildings (syndics)
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
74999Other professional, scientific and technical activities
Scores and ratios are computed by Checked and are not a credit decision.