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HADCO

Active
Coöperatieve vennootschap met beperkte aansprakelijkheidfounded 1989active for 36 yearsHandelskaai 25, 1000 Brussel, Belgium51 active companies are registered at this addressKBO/BCE: BE 0439.129.490
Summary

The computed 12-month bankruptcy probability of HADCO is 6.2% (elevated). The 2024 annual accounts show equity of €52,243 and a net result of -€792. Equity is shrinking by about 11% per year across the filed financial years. Its solvency ranks better than 89% of 15,477 sector peers (NACE 46, financial year 2024). The company has been active since 1989 and the Belgian Official Gazette contains no insolvency or warning signals.

Overview

Activity
Agents in non-specialised wholesale trade
NACE 46190
1 site
Size
€59,191total assets 2024
Equity
€52,243
Loss
-€792
Turnover not published (micro format)
Financial health
38 Weak Checked score 2024
Bankruptcy probabilitywithin 12 months
6.2%
Structure
Accounts 78 days overdue1 of 2 deeds read
Why 38raises riskFigures for financial year 2024 (filed 16-12-2025)1 change of registered office in 24 monthsLiquidity: current ratio 13.37lowers riskFounded in 1989Show the evidence

Checked score

Score 2024
38 / 100
Weak
Probability in this band: 4.2% to 15.0%
Financially better than 65% of its sector peers (NACE 46, micro)
Financial strength · tick = 2023
Strong
Solvency 100=
equity 88.3% of total assets
Liquidity 100=
short-term debt 7.5%
Profitability 48+37
return on assets -1.3%
Bankruptcy probability, 12 months
6.2% Elevated
0%0.5%1.5%4%10%≥ 25%

About 6 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (26,872 companies, NACE 46, micro)
Last 24 months 11-2024: 2.7% 12-2024: 3.5%▲ +0.8 percentage points vs 11-2024 01-2025: 6.6%▲ +3.1 percentage points vs 12-2024 02-2025: 6.6%● unchanged vs 01-2025 03-2025: 7.0%▲ +0.4 percentage points vs 02-2025 04-2025: 6.6%▼ -0.4 percentage points vs 03-2025 05-2025: 6.5%▼ -0.1 percentage points vs 04-2025 06-2025: 6.5%● unchanged vs 05-2025 07-2025: 6.5%● unchanged vs 06-2025 08-2025: 8.6%▲ +2.1 percentage points vs 07-2025 09-2025: 8.6%● unchanged vs 08-2025 10-2025: 8.6%● unchanged vs 09-2025 11-2025: 9.2%▲ +0.6 percentage points vs 10-2025highest value 12-2025: 9.2%● unchanged vs 11-2025highest value 01-2026: 1.3%▼ -7.9 percentage points vs 12-2025 02-2026: 1.3%● unchanged vs 01-2026 03-2026: 1.3%● unchanged vs 02-2026 04-2026: 1.3%● unchanged vs 03-2026 05-2026: 1.3%● unchanged vs 04-2026 06-2026: 1.2%▼ -0.1 percentage points vs 05-2026lowest value 07-2026: 1.2%● unchanged vs 06-2026 08-2026: 3.4%▲ +2.2 percentage points vs 07-2026 09-2026: 4.2%▲ +0.8 percentage points vs 08-2026 10-2026: 6.2%▲ +2.0 percentage points vs 09-2026
Credit of up to €1,500 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity ample (current ratio 13.37, compared with 12.13 in 2023, above the usual 1.5; short-term debt: 7.5% of total assets), and 11.7% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 46, micro): better than 90% on solvency, 98% on liquidity, 38% on profitability and 37% on growth.

The bankruptcy probability was computed on 16-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
lowers riskraises risk
raises risk · Figures for financial year 2024 (filed 16-12-2025)
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
lowers risk · Founded in 1989
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · Liquidity: current ratio 13.37
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024
Net result per financial year
18192021222324
2018 to 2024 · latest year -€792
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 78 days later.
NBB · 10 filings
Position against the passed deadline
31-12-2025 year end31-07-2026 deadline17-10-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 10-12-2025, 132 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 10 filings
Deviation from the deadline
2025
not filed
2024
132 days late
2023
497 days late
2022
87 days late
2021
424 days late
2020
30 days late
2019
29 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 190 days after the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (1)
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Registered officeRegistered-office move
  2. Annual accounts filedfinancial year 2024 · micro…
  3. Annual accounts filedfinancial year 2023 · micro…

Key points

  • Risk: 6 loss-making years in a rowloss financial year 2024 -€792 View
  • Caution: Accounts not fileddeadline was 31-07-2026 78 days late View
  • Positive: Among the best 11% on solvencysector median 39.4% · 15,477 companies 88.3% View

By topic

Financials

Financial year
2024
Total assets
€59,191
Loss
-€792
Solvency
88.3%
Total assets=
Net result
20182024
Go to Financials

Timeline

Events
35
Since
1992
  1. 26-10-2023Annual accounts filed
  2. 28-09-2023Annual accounts filed
  3. 30-08-2021Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Coöperatieve vennootschap met beperkte aansprakelijkheid
Activity
Agents in non-specialised wholesale tradeNACE 46190
Founded
22-12-1989
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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