KADET
ActiveSummary
KADET has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€120,364) and a net result of -€1,288. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 18537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability35▲+35
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.15 against 0.06 in 2024; short-term debt: 507.9% and cash: 52.3% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-409.7%
Return on assets
-4.4%
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€120,364
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 21-07-2026, 10 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
10 d early
2024
31 d early
2023
30 d late
2022
141 d late
2021
25 d late
2020
10 d early
2019
42 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 27 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€120,364▼ 1.1%
2024 · -€119,076
Total assets
€29,379▲ 11.6%
2024 · €26,319
Net result
-€1,288▲ 97.9%
2024 · -€61,469
Working capital
-€127,111▲ 6.3%
2024 · -€135,716
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€6,831▼ 88.8%-€2,176-€130,657▼ 5,904%-€55,566▲ 57.5%€754
Net result-€1,880within the sector's middle half-€7,576below the sector's middle half▼ 303%-€142,419below the sector's middle half▼ 1,780%-€61,469below the sector's middle half▲ 56.8%-€1,288within the sector's middle half▲ 97.9%
Equity€92,388within the sector's middle half▼ 2.0%€84,813within the sector's middle half▼ 8.2%-€57,606below the sector's middle half-€119,076below the sector's middle half▼ 107%-€120,364below the sector's middle half▼ 1.1%
Total assets€240,813within the sector's middle half▲ 13.3%€262,090within the sector's middle half▲ 8.8%€86,477within the sector's middle half▼ 67.0%€26,319below the sector's middle half▼ 69.6%€29,379below the sector's middle half▲ 11.6%
Debt€148,425▲ 25.6%€177,277▲ 19.4%€144,084▼ 18.7%€145,395▲ 0.9%€149,742▲ 3.0%
Working capital€68,698▼ 11.3%€60,303▼ 12.2%-€74,506-€135,716▼ 82.2%-€127,111▲ 6.3%
Solvency38.4%within the sector's middle half▼ 6.0pp32.4%within the sector's middle half▼ 6.0pp-66.6%below the sector's middle half▼ 99.0pp-452.4%below the sector's middle half▼ 385.8pp-409.7%below the sector's middle half▲ 42.7pp
Staff (FTE)2.5▲ 56.3%2.3▼ 8.0%0.3
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €754 after a loss of €55,566 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €29,379
Fixed assets
€7,285 ▼ 60.3%
Current assets
€22,093 ▲ 177%
Key figures and ratios
EBITDA
€5,041▲
2024 · -€48,194
Cash flow
€2,999▲
2024 · -€54,097
Current ratio
0.15▲
2024 · 0.06
Debt to equity
-1.24▼
2024 · -1.22
ROA
-4.4%▲
2024 · -233.6%
Interest coverage
2.64▲
2024 · -8.16
Debt ≤ 1 year
€149,204▲
2024 · €143,689
Income taxes
€135
Staff costs
€958▼
2024 · €9,794
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,799 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
1.9%
went bankrupt
5.9%
stopped otherwise
90%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,799 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €82,164 | €85,058 | €85,904 | €9,794 | €958 | ▼ 90.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,325 | €11,309 | €7,552 | €7,372 | €4,287 | ▼ 41.9% |
| Other operating charges640/8 | €621 | €1,651 | €1,667 | €1,964 | €1,494 | ▼ 23.9% |
| Gross operating margin9900 | €98,940 | €95,842 | -€35,535 | -€36,436 | €7,492 | ▲ 121% |
| Operating profit (loss)9901 | €6,831 | -€2,176 | -€130,657 | -€55,566 | €754 | ▲ 101% |
| Financial income75/76B | €2,767 | €654 | €1,636 | €1 | €3 | ▲ 384% |
| Recurring financial income75 | €2,767 | €654 | €1,636 | €1 | €3 | ▲ 384% |
| Financial charges65/66B | €7,428 | €6,053 | €11,110 | €5,904 | €1,910 | ▼ 67.7% |
| Recurring financial charges65 | €5,753 | €6,053 | €11,110 | €5,904 | €1,910 | ▼ 67.7% |
| Non-recurring financial charges66B | €1,675 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €2,169 | -€7,576 | -€140,131 | -€61,469 | -€1,153 | ▲ 98.1% |
| Income taxes67/77 | €4,050 | - | €2,288 | - | €135 | - |
| Profit (loss) for the period9904 | -€1,880 | -€7,576 | -€142,419 | -€61,469 | -€1,288 | ▲ 97.9% |
| Profit (loss) for the period to be appropriated9905 | -€1,880 | -€7,576 | -€142,419 | -€61,469 | -€1,288 | ▲ 97.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €240,813 | €262,090 | €86,477 | €26,319 | €29,379 | ▲ 11.6% |
| Fixed assets21/28 | €27,188 | €24,871 | €17,319 | €18,346 | €7,285 | ▼ 60.3% |
| Tangible fixed assets22/27 | €27,188 | €24,871 | €17,319 | €18,346 | €7,285 | ▼ 60.3% |
| Land and buildings22 | €1,402 | €1,169 | €935 | €701 | €467 | ▼ 33.3% |
| Plant, machinery and equipment23 | €7,670 | €10,032 | €7,134 | €12,354 | €6,400 | ▼ 48.2% |
| Furniture and vehicles24 | €18,116 | €13,671 | €9,251 | €5,291 | €418 | ▼ 92.1% |
| Current assets29/58 | €213,625 | €237,219 | €69,158 | €7,973 | €22,093 | ▲ 177% |
| Stocks and contracts in progress3 | €152,289 | €212,807 | €15,966 | - | - | - |
| Stocks30/36 | €152,289 | €212,807 | €15,966 | - | - | - |
| Amounts receivable within one year40/41 | €7,801 | €2,479 | - | €2,643 | €6,739 | ▲ 155% |
| Trade receivables40 | - | €2,479 | - | - | €3,170 | - |
| Other amounts receivable41 | €7,801 | - | - | €2,643 | €3,569 | ▲ 35.1% |
| Cash at bank and in hand54/58 | €29,906 | €12,826 | €52,006 | €4,062 | €15,354 | ▲ 278% |
| Deferred charges and accrued income490/1 | €23,629 | €9,107 | €1,186 | €1,268 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €240,813 | €262,090 | €86,477 | €26,319 | €29,379 | ▲ 11.6% |
| Equity10/15 | €92,388 | €84,813 | -€57,606 | -€119,076 | -€120,364 | ▼ 1.1% |
| Contributions10/11 | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €73,388 | €65,813 | €65,813 | €65,813 | €65,813 | = |
| Distributable reserves133 | €73,388 | €65,813 | €65,813 | €65,813 | €65,813 | = |
| Profit (loss) carried forward14 | - | - | -€142,419 | -€203,888 | -€205,177 | ▼ 0.6% |
| Amounts payable17/49 | €148,425 | €177,277 | €144,084 | €145,395 | €149,742 | ▲ 3.0% |
| Amounts payable after more than one year17 | €3,183 | - | - | - | - | - |
| Financial debts170/4 | €3,183 | - | - | - | - | - |
| Amounts payable within one year42/48 | €144,927 | €176,916 | €143,664 | €143,689 | €149,204 | ▲ 3.8% |
| Current portion of amounts payable after more than one year42 | €6,000 | €3,094 | - | - | - | - |
| Financial debts43 | - | €49,750 | €100,000 | €50,000 | - | - |
| Credit institutions430/8 | - | €49,750 | €100,000 | €50,000 | - | - |
| Trade debts44 | €73,896 | €25,152 | €5,122 | €2,899 | €2,238 | ▼ 22.8% |
| Suppliers440/4 | €73,896 | €25,152 | €5,122 | €2,899 | €2,238 | ▼ 22.8% |
| Advances received on contracts in progress46 | - | €3,000 | - | - | - | - |
| Taxes, remuneration and social security45 | €28,493 | €28,711 | €11,403 | €559 | €135 | ▼ 75.9% |
| Taxes450/3 | €8,422 | €13,100 | €11,403 | €559 | €135 | ▼ 75.9% |
| Remuneration and social security454/9 | €20,071 | €15,611 | - | - | - | - |
| Other amounts payable47/48 | €36,539 | €67,208 | €27,138 | €90,231 | €146,832 | ▲ 62.7% |
| Accrued charges and deferred income492/3 | €314 | €362 | €420 | €1,706 | €538 | ▼ 68.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,880 | -€7,576 | -€142,419 | -€61,469 | -€1,288 | ▲ 97.9% |
| + Depreciation and write-downs630 | €9,325 | €11,309 | €7,552 | €7,372 | €4,287 | ▼ 41.9% |
| Operating cash flow (approximation) | €7,444 | €3,733 | -€134,867 | -€54,097 | €2,999 | ▲ 106% |
| Investment in fixed assets (approximation) | - | -€8,992 | €0 | -€8,399 | €6,774 | ▲ 181% |
| Change in cash | - | -€17,080 | €39,181 | -€47,945 | €11,292 | ▲ 124% |
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
21-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet -€142,419
Net result drops to -€142,419, the lowest in the series; recovery starts the following year.
19-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 141 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
21-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €60,248 ▲109%
Operating result €60,779, net result €60,248, both a record.
11-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 42 days late
2019
31-12
Financial
Back to profitnet €28,784
Net result €28,784 after one loss-making year.
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 27 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Hasselt · 1 establishment unit since 1999
Ground area
675 m²
Building footprint
296 m²
Volume, LiDAR
2,039 m³
Parcel 71022H0388/00B000, Flanders · tallest building 12.9 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Maastrichterstraat 38, 3500 Hasselt
since 19992.091.129.859
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71022H0388/00B000 | Flanders | 675 m² | 1 · 296 m² | 12.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 504 companies in sector 47713 we hold annual accounts for 195. 153 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
Founded05-02-1999
Fiscal year end31-12
Activities, NACEBEL 2025
47713Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0465397486
Also
9925:BE0465397486
Registered
10-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.