BADEX
ActiveBADEX has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €338k and a net result of €179. Equity is growing by ~22.3% per year across the filed fiscal years. Its solvency ranks better than 21% of 674 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
18
/ 100
Critical▼ -18 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-42
Solvency13▼-10
Growth78=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.37 against 0.42 in 2024), and 81.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Sector 85
lower
← fewer bankruptcies
more bankruptcies →
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
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
18.8%
Return on assets
0%
Age of the figures
8 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 674 sector peers (2025).
NBB · sector comparisonPosition among 674 sector peers
Solvency
better than 21%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
28 d late
2023
28 d late
2022
29 d late
2021
31 d late
2020
118 d late
2019
90 d late
← before the deadline
after the deadline →
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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€179▼ 99.4%
2024 · €28k
2018: €-13k
2019: €36k
2020: €144k
2021: €279k
2022: €-222k
2023: €111k
2024: €28k
2018 → 2025
Working capital
€-866k▼ 49.3%
2024 · €-580k
2018: €-722k
2019: €-656k
2020: €-474k
2021: €-174k
2022: €-448k
2023: €-604k
2024: €-580k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€420k-€198k▼ 52.8%€309k▲ 56.1%€338k▲ 9.1%€338k▲ 0.1%
Operating result€363k-€-182k€89k€93k▲ 5.5%€22k▼ 76.0%
Net result€279k-€-222k€111k€28k▼ 74.5%€179▼ 99.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 76% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.79M
Fixed assets
€1.28M▲ 26.5%
Current assets
€515k▲ 22.1%
Equity and liabilities €1.79M
Equity
€338k▲ 0.1%
Debt
€1.46M▲ 33.0%
The debt ratio rises from 76.4% to 81.2%: debt grows faster than equity.
Key figures and ratios
EBITDA
€97k▼
2024 · €185k
Cash flow
€74k▼
2024 · €120k
Solvency
18.8%▼
2024 · 23.6%
Current ratio
0.37▼
2024 · 0.42
Quick ratio
0.37▼
2024 · 0.41
Debt / equity
4.31▲
2024 · 3.24
ROE
0.1%▼
2024 · 8.4%
ROA
0.0%▼
2024 · 2.0%
Interest coverage
1.24▼
2024 · 3.01
Debt
€1.46M▲
2024 · €1.09M
Debt ≤ 1 year
€1.38M▲
2024 · €1.00M
Debt > 1 year
€74k▼
2024 · €92k
Income taxes
€2k▼
2024 · €18k
Staff costs
€2.04M▲
2024 · €1.97M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.43M€1.79M▲
Fixed assets21/28€1.01M€1.28M▲
Intangible fixed assets21€24k€22k▼
Tangible fixed assets22/27€262k€221k▼
Plant, machinery and equipment23€12k€10k▼
Furniture and vehicles24€100k€81k▼
Leasing and similar rights25€4k€0▼
Other tangible fixed assets26€146k€130k▼
Financial fixed assets28€725k€1.04M▲
Current assets29/58€422k€515k▲
Stocks and contracts in progress3€9k€8k▼
Stocks30/36€9k€8k▼
Amounts receivable within one year40/41€399k€487k▲
Trade receivables40€340k€400k▲
Other amounts receivable41€60k€87k▲
Cash at bank and in hand54/58€10k€12k▲
Deferred charges and accrued income490/1€4k€9k▲
Equity and liabilities
Total equity and liabilities10/49€1.43M€1.79M▲
Equity10/15€338k€338k▲
Contributions10/11€62k€62k=
Reserves13€106k€106k=
Distributable reserves133€106k€106k=
Profit (loss) carried forward14€169k€170k▲
Amounts payable17/49€1.09M€1.46M▲
Amounts payable after more than one year17€92k€74k▼
Financial debts170/4€92k€74k▼
Amounts payable within one year42/48€1.00M€1.38M▲
Current portion of amounts payable after more than one year42€27k€23k▼
Financial debts43€104k€338k▲
Credit institutions430/8€104k€338k▲
Trade debts44€322k€503k▲
Suppliers440/4€322k€503k▲
Taxes, remuneration and social security45€451k€447k▼
Taxes450/3€52k€65k▲
Remuneration and social security454/9€399k€382k▼
Other amounts payable47/48€98k€70k▼
Accrued charges and deferred income492/3€1k€2k▲
Income statement
Code20242025
Non-recurring operating income76A€10k€0▼
Remuneration, social security and pensions62€1.97M€2.04M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€91k€74k▼
Other operating charges640/8€9k€7k▼
Non-recurring operating charges66A€0-
Gross operating margin9900€2.16M€2.15M▼
Operating profit (loss)9901€93k€22k▼
Financial income75/76B€15k€57k▲
Recurring financial income75€15k€57k▲
Non-recurring financial income76B€0-
Financial charges65/66B€61k€78k▲
Recurring financial charges65€61k€78k▲
Profit (loss) for the period before taxes9903€47k€2k▼
Income taxes67/77€18k€2k▼
Profit (loss) for the period9904€28k€179▼
Profit (loss) for the period to be appropriated9905€28k€179▼
Appropriation of the result
Profit (loss) to be appropriated9906€169k€170k▲
Profit (loss) brought forward from the previous period14P€141k€169k▲
Social balance
Average headcount (FTE)908738.237.9▼
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
2023
31-12
Financial
Back to profitnet €111k
Net result €111k after one loss-making year.
31-12
Financial
Equity above €200kEq €309k ▲56.1%
Equity rises from €198k to €309k.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2022
31-12
Financial
Weakest financial yearnet €-222k ▼179%
Net result drops to €-222k, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Highest result since 2018net €279k ▲93.7%
Operating result €363k, net result €279k, both a record.
31-12
Financial
Equity above €200kEq €420k ▲199%
3 profitable years in a row build equity to €420k.
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 118 days late
2020
31-12
Financial
Equity above €100kEq €141k
2 profitable years in a row build equity to €141k.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 90 days late
2019
31-12
Financial
Back to profitnet €36k
Net result €36k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Namur · 14 establishment units since 1996
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue des Brasseurs 145000 NamurGround area
1.3 ha
Building footprint
1,977 m²
Volume, LiDAR
11,892 m³
14 parcels, Wallonia · tallest building 21.7 m, ±6 floors. Linked by address, not a title deed.
14 establishment units
Badex
since 19962.077.214.319
Badex
since 19992.077.214.418
Badex
since 19992.077.214.517
Badex
since 20142.227.198.687
Badex
since 20142.227.288.660
Badex
since 20142.227.288.858
Show 8 more locations
Badex
since 20142.227.288.957
Badex
since 20142.227.289.155
Badex
since 20142.227.289.254
Badex
since 20142.227.289.452
Badex
since 20142.227.289.650
Badex
since 20142.227.290.838
Badex
since 20142.227.291.036
Badex
since 20152.245.394.206
14 parcels
Wallonia
14
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52022C0544/00M005 | Wallonia | 9,348 m² | 1 · 23 m² | 8.2 m · 3 fl. |
| 62001B0520/00F004 | Wallonia | 915 m² | 1 · 118 m² | 17.4 m · 5 fl. |
| 92035A0075/00Z000 | Wallonia | 602 m² | 1 · 568 m² | - |
| 92101A0014/00N000 | Wallonia | 550 m² | 1 · 264 m² | 9.4 m · 2 fl. |
| 62036B0349/00Z000 | Wallonia | 402 m² | 1 · 101 m² | 6.9 m · 2 fl. |
| 64074C0855/00E007 | Wallonia | 393 m² | 1 · 300 m² | 21.7 m · 6 fl. |
| 62816D1039/00P000 | Wallonia | 232 m² | 1 · 43 m² | 13.8 m · 4 fl. |
| 93014A0392/00E000 | Wallonia | 228 m² | 1 · 57 m² | - |
| 61322A0962/00V002indicative | Wallonia | 156 m² | 1 · 64 m² | - |
| 92094C0847/00P000 | Wallonia | 118 m² | 1 · 98 m² | 17.6 m · 5 fl. |
| 93056D0519/00W035 | Wallonia | 113 m² | 1 · 140 m² | - |
| 93022K0714/00H000 | Wallonia | 110 m² | 1 · 85 m² | - |
| 56016D0423/00G003 | Wallonia | 99 m² | 1 · 48 m² | 13.6 m · 4 fl. |
| 92121A0866/00X000 | Wallonia | 91 m² | 1 · 67 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 13
13 of 14 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 1,034 companies in sector 85531 we hold annual accounts for 345. 210 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-06-1996
Fiscal year end31-12
Activities, NACEBEL
85531Driving schools for cars and motorcycles
Sources
Crossroads Bank for EnterprisesNational Bank · 29 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:071/54.99.92