ANDEL
ActiveSummary
ANDEL has been active since 1987 and the Belgian Official Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €13.1m and a net result of -€384,216. Equity is growing by about 2.6% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.5% (very low).
Financials · financial year 2024, full format, standalone accounts
2025 annual accounts not yet filed, deadline passed on 31 July 2026 Financial year closed on 31 December 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 26 October 2026.
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€384,216▲ 88.7%
2023 · -€3.4m
Working capital
-€478,504▲ 64.3%
2023 · -€1.3m
Trend over the years
2020 to 2024, 5 financial years 2018 to 2024, 7 financial years
The operating result stays negative: a loss of €149,138 in 2024 against €141,168 in 2023; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.1m
2024
Net result-€0.4m
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€23.1m
2024
Equity€13.1m
2024
Debt€10.0m
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.5m
2024
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result-€0.1m--€0.08m▲ 20.3%-€0.07m▲ 17.7%-€0.2m▼ 150%-€0.2m▼ 3.6%-€0.1m▲ 17.6%-€0.1m▼ 5.6%
Net result-€0.3m--€0.2m▲ 18.6%-€0.3m▼ 34.2%-€0.6m▼ 111%-€0.6m▼ 5.1%-€3.4m▼ 455%-€0.4m▲ 88.7%
Equity€11.5m-€11.3m▼ 1.8%€15.6m▲ 37.2%€15.0m▼ 3.8%€16.9m▲ 12.6%€13.5m▼ 20.2%€13.1m▼ 2.9%
Total assets€20.0m-€19.8m▼ 0.8%€28.7m▲ 44.9%€24.9m▼ 13.5%€26.6m▲ 7.0%€23.5m▼ 11.7%€23.1m▼ 1.8%
Debt€8.5m-€8.5m▲ 0.5%€13.2m▲ 55.0%€9.9m▼ 25.0%€9.7m▼ 1.6%€10.0m▲ 3.1%€10.0m▼ 0.5%
Working capital-€1.1m--€0.3m▲ 71.7%€6.8m-€1.1m-€1.3m▼ 15.0%-€1.3m▼ 7.1%-€0.5m▲ 64.3%
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €23.1m
Fixed assets
€21.7m ▼ 6.6%
Current assets
€1.4m ▲ 345%
Equity and liabilities €23.1m
Equity
€13.1m ▼ 2.9%
Debt
€10.0m ▼ 0.5%
Debt's share of the balance-sheet total rises from 42.7% to 43.3%. Equity and debt are lower.
Key figures and ratios
Current ratio
0.75▲
2023 · 0.19
Debt to equity
0.76▲
2023 · 0.75
ROE
-2.9%▲
2023 · -25.3%
ROA
-1.7%▲
2023 · -14.5%
Debt ≤ 1 year
€1.9m▲
2023 · €1.7m
Debt > 1 year
€8.0m▼
2023 · €8.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €334 | €0.007m | - | - | - |
| Other operating income74 | - | - | - | €334 | €0.007m | - | - | - |
| Operating charges60/66A | - | - | - | €0.2m | €0.2m | €0.1m | €0.1m | ▲ 5.6% |
| Services and other goods61 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 6.6% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.03m | €0.02m | €0.02m | ▲ 0.7% |
| Operating profit (loss)9901 | -€0.1m | -€0.08m | -€0.07m | -€0.2m | -€0.2m | -€0.1m | -€0.1m | ▼ 5.6% |
| Financial income75/76B | - | - | - | - | - | €0.2m | €0.2m | ▲ 6.7% |
| Recurring financial income75 | - | - | - | - | - | €0.2m | €0.2m | ▲ 6.7% |
| Income from current assets751 | - | - | - | - | - | €0.2m | €0.1m | ▼ 4.1% |
| Other financial income752/9 | - | - | - | - | - | €0 | €0.02m | ▲ 1,625,027× |
| Financial charges65/66B | - | - | - | €0.4m | €0.4m | €3.4m | €0.4m | ▼ 88.4% |
| Recurring financial charges65 | €0.2m | €0.1m | €0.2m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 10.6% |
| Debt charges650 | €0.2m | €0.1m | €0.2m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 7.3% |
| Other financial charges652/9 | - | - | - | €0.001m | €0.001m | €0.02m | €0.001m | ▼ 91.7% |
| Non-recurring financial charges66B | - | - | - | - | - | €3.0m | - | - |
| Profit (loss) for the period before taxes9903 | -€0.3m | -€0.2m | -€0.3m | -€0.6m | -€0.6m | -€3.4m | -€0.4m | ▲ 88.7% |
| Profit (loss) for the period9904 | -€0.3m | -€0.2m | -€0.3m | -€0.6m | -€0.6m | -€3.4m | -€0.4m | ▲ 88.7% |
| Profit (loss) for the period to be appropriated9905 | -€0.3m | -€0.2m | -€0.3m | -€0.6m | -€0.6m | -€3.4m | -€0.4m | ▲ 88.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €20.0m | €19.8m | €28.7m | €24.9m | €26.6m | €23.5m | €23.1m | ▼ 1.8% |
| Fixed assets21/28 | €20.0m | €19.8m | €21.6m | €24.8m | €26.5m | €23.2m | €21.7m | ▼ 6.6% |
| Financial fixed assets28 | €20.0m | €19.8m | €21.6m | €24.8m | €26.5m | €23.2m | €21.7m | ▼ 6.6% |
| Affiliated companies280/1 | - | - | - | €24.8m | €26.5m | €23.2m | €21.7m | ▼ 6.6% |
| Participating interests280 | - | - | - | €15.5m | €15.5m | €15.5m | €15.5m | = |
| Amounts receivable281 | - | - | - | €9.3m | €11.0m | €7.6m | €6.1m | ▼ 19.9% |
| Other financial fixed assets284/8 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Shares284 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Current assets29/58 | €0.01m | €0.01m | €7.1m | €0.04m | €0.07m | €0.3m | €1.4m | ▲ 345% |
| Amounts receivable within one year40/41 | €0.006m | €0.006m | €0.07m | €100 | €0.01m | €0 | €0 | - |
| Trade receivables40 | - | - | - | €100 | €175 | €0 | €0 | - |
| Other amounts receivable41 | - | - | - | - | €0.01m | €0 | - | - |
| Cash at bank and in hand54/58 | €0.005m | €0.005m | €7.1m | €0.02m | €0.04m | €0.3m | €1.4m | ▲ 370% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.001m | ▼ 91.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €20.0m | €19.8m | €28.7m | €24.9m | €26.6m | €23.5m | €23.1m | ▼ 1.8% |
| Equity10/15 | €11.5m | €11.3m | €15.6m | €15.0m | €16.9m | €13.5m | €13.1m | ▼ 2.9% |
| Contributions10/11 | €13.9m | €13.9m | €18.4m | €18.4m | €20.9m | €20.9m | €20.9m | = |
| Capital10 | - | - | - | €18.4m | €20.9m | €20.9m | €20.9m | = |
| Issued capital100 | - | - | - | €18.4m | €20.9m | €20.9m | €20.9m | = |
| Reserves13 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Legal reserve130 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Tax-exempt reserves132 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Profit (loss) carried forward14 | -€3.1m | -€3.3m | -€3.6m | -€4.1m | -€4.8m | -€8.2m | -€8.6m | ▼ 4.7% |
| Amounts payable17/49 | €8.5m | €8.5m | €13.2m | €9.9m | €9.7m | €10.0m | €10.0m | ▼ 0.5% |
| Amounts payable after more than one year17 | €7.3m | €8.2m | €12.8m | €8.7m | €8.3m | €8.3m | €8.0m | ▼ 2.8% |
| Financial debts170/4 | - | - | - | €8.7m | €8.3m | €7.0m | €6.8m | ▼ 2.8% |
| Subordinated loans170 | - | - | - | €3.8m | €3.7m | €3.1m | €3.2m | ▲ 1.4% |
| Unsubordinated bonds171 | - | - | - | €2.3m | €2.2m | €1.9m | €2.1m | ▲ 13.5% |
| Other loans174 | - | - | - | €2.6m | €2.4m | €2.0m | €1.5m | ▼ 24.9% |
| Other amounts payable178/9 | - | - | - | - | - | €1.3m | €1.3m | ▼ 3.0% |
| Amounts payable within one year42/48 | €1.1m | €0.3m | €0.3m | €1.1m | €1.3m | €1.7m | €1.9m | ▲ 13.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1.0m | €1.2m | €1.6m | €1.8m | ▲ 14.4% |
| Financial debts43 | - | - | - | €2 | - | €0.01m | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €2 | - | €0.01m | €0 | ▼ 100% |
| Trade debts44 | €0.02m | €0.04m | €0.04m | €0.08m | €0.08m | €0.06m | €0.09m | ▲ 42.5% |
| Suppliers440/4 | - | - | - | €0.08m | €0.08m | €0.06m | €0.09m | ▲ 42.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.02m | €0.02m | €0.007m | ▼ 61.2% |
| Taxes450/3 | - | - | - | €0.006m | €0.02m | €0.01m | €0.007m | ▼ 41.4% |
| Remuneration and social security454/9 | - | - | - | €0.009m | €0.009m | €0.006m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | €0.07m | €0.08m | €0.1m | €0.06m | ▼ 36.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.3m | -€0.2m | -€0.3m | -€0.6m | -€0.6m | -€3.4m | -€0.4m | ▲ 88.7% |
| Operating cash flow (approximation) | -€0.3m | -€0.2m | -€0.3m | -€0.6m | -€0.6m | -€3.4m | -€0.4m | ▲ 88.7% |
| Investment in fixed assets (approximation) | - | €0.2m | -€1.8m | -€3.2m | -€1.7m | €3.3m | €1.5m | ▼ 54.5% |
| Change in cash | - | €0.001m | €7.1m | -€7.0m | €0.02m | €0.3m | €1.1m | ▲ 330% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 55 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2024 | full format | 03-07-2025 | 2025-00244763 |
| 31-12-2024 | consolidated | 03-07-2025 | 2025-00244986 |
| 31-12-2023 | full format | 20-06-2024 | 2024-00155642 |
| 31-12-2023 | consolidated | 20-06-2024 | 2024-00155978 |
| 31-12-2022 | full format | 28-06-2023 | 2023-00175711 |
| 31-12-2022 | consolidated | 28-06-2023 | 2023-00211373 |
| 31-12-2021 | full format | 10-06-2022 | 2022-20062658 |
| 31-12-2021 | consolidated | 10-06-2022 | 2022-20062858 |
| 31-12-2020 | full format | 14-06-2021 | 2021-19900167 |
| 31-12-2020 | consolidated | 14-06-2021 | 2021-19900193 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.