KADR
ActiveSummary
The computed 12-month bankruptcy probability of KADR is 2.5% (moderate). The 2025 annual accounts show equity of €70k and a net result of €-142k. Equity is growing by ~23.3% per year across the filed fiscal years. Its solvency ranks better than 23% of 27965 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2023
Profitability0▼-81
Solvency47▼-7
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days only on tighter terms
Liquidity tight (current ratio 1.22 against 1.31 in 2023; short-term debt: 78.1% and cash: 0.1% of total assets), and 78.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
21.9%
Return on assets
-44.1%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 27965 sector peers (2025).
NBB · sector comparisonPosition among 27965 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-05-2026, 28 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 · 4 filingsDeviation from the deadline
2025
28 d late
2023
28 d late
2022
394 d late
2021
759 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Hiring this company for building work? Recognition, activities and what to check first.Contractor check Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Financials · fiscal year 2025, micro schema
Equity
€70k▼ 60.1%
2023 · €176k
Total assets
€321k▼ 47.9%
2023 · €616k
Net result
€-142k
2023 · €59k
Working capital
€56k▼ 59.1%
2023 · €137k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2021202220232025
Operating result€87k-€54k▼ 37.3%€156k▲ 187%€-141k-
Net result€68k-€45k▼ 33.6%€59k▲ 30.7%€-142k-
Equity€73k-€118k▲ 61.8%€176k▲ 49.9%€70k-
Total assets€237k-€350k▲ 47.7%€616k▲ 76.2%€321k-
Debt€164k-€232k▲ 41.5%€440k▲ 89.5%€251k-
Working capital€68k-€93k▲ 36.4%€137k▲ 48.4%€56k-
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result is €-141k in 2025, compared with €156k in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €321k
Fixed assets
€14k ▼ 63.7%
Current assets
€307k ▼ 46.8%
Equity and liabilities €321k
Equity
€70k ▼ 60.1%
Debt
€251k ▼ 42.9%
Debt's share of the balance-sheet total rises from 71.4% to 78.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-127k▼
2023 · €168k
Cash flow
€-127k▼
2023 · €70k
Current ratio
1.22▼
2023 · 1.31
Quick ratio
1.14▼
2023 · 1.31
Debt to equity
3.58▲
2023 · 2.50
ROE
-201.9%▼
2023 · 33.3%
ROA
-44.1%▼
2023 · 9.5%
Interest coverage
-274.58▼
2023 · 261.90
Debt ≤ 1 year
€251k▼
2023 · €440k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €6k | €12k | €14k | - |
| Other operating charges640/8 | €149 | €12 | €1k | €825 | - |
| Gross operating margin9900 | €89k | €61k | €169k | €-126k | - |
| Operating profit (loss)9901 | €87k | €54k | €156k | €-141k | - |
| Financial income75/76B | €19 | €7k | €4k | €2 | - |
| Recurring financial income75 | €19 | €7k | €4k | €2 | - |
| Financial charges65/66B | €779 | €372 | €641 | €462 | - |
| Recurring financial charges65 | €779 | €372 | €641 | €462 | - |
| Profit (loss) for the period before taxes9903 | €86k | €62k | €160k | €-142k | - |
| Income taxes67/77 | €18k | €17k | €101k | - | - |
| Profit (loss) for the period9904 | €68k | €45k | €59k | €-142k | - |
| Profit (loss) for the period to be appropriated9905 | €68k | €45k | €59k | €-142k | - |
| Line | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €237k | €350k | €616k | €321k | - |
| Fixed assets21/28 | €5k | €25k | €39k | €14k | - |
| Tangible fixed assets22/27 | €5k | €25k | €39k | €14k | - |
| Plant, machinery and equipment23 | €515 | €1k | €5k | €2k | - |
| Furniture and vehicles24 | €4k | €23k | €34k | €12k | - |
| Current assets29/58 | €232k | €325k | €577k | €307k | - |
| Stocks and contracts in progress3 | - | - | - | €22k | - |
| Stocks30/36 | - | - | - | €22k | - |
| Amounts receivable within one year40/41 | €231k | €312k | €576k | €285k | - |
| Trade receivables40 | €104k | €188k | €379k | €82k | - |
| Other amounts receivable41 | €127k | €124k | €197k | €203k | - |
| Cash at bank and in hand54/58 | €108 | €12k | €401 | €261 | - |
| Deferred charges and accrued income490/1 | €590 | - | €1k | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €237k | €350k | €616k | €321k | - |
| Equity10/15 | €73k | €118k | €176k | €70k | - |
| Contributions10/11 | €5k | €5k | €5k | €5k | - |
| Profit (loss) carried forward14 | €68k | €113k | €171k | €65k | - |
| Amounts payable17/49 | €164k | €232k | €440k | €251k | - |
| Amounts payable within one year42/48 | €164k | €232k | €440k | €251k | - |
| Trade debts44 | €146k | €197k | €311k | €72k | - |
| Suppliers440/4 | €146k | €197k | €311k | €72k | - |
| Taxes, remuneration and social security45 | €18k | €35k | €129k | €96k | - |
| Taxes450/3 | €18k | €35k | €129k | €96k | - |
| Other amounts payable47/48 | - | - | - | €83k | - |
| Line | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €68k | €45k | €59k | €-142k | - |
| + Depreciation and write-downs630 | €2k | €6k | €12k | €14k | - |
| Operating cash flow (approximation) | €69k | €51k | €70k | €-127k | - |
| Investment in fixed assets (approximation) | - | €-26k | €-26k | - | - |
| Change in cash | - | €12k | €-12k | - | - |
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
28-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
30-09
Financial
Weakest financial yearnet €-142k
Net result drops to €-142k, the lowest in the series.
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
28-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 394 days late
28-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 759 days late
2023
30-09
Financial
Equity above €150kEq €176k ▲49.9%
3 profitable years in a row build equity to €176k.
2022
30-09
Financial
Equity above €100kEq €118k ▲61.8%
2 profitable years in a row build equity to €118k.
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, Anderlecht · 1 establishment unit since 2020
Ground area
693 m²
Building footprint
545 m²
Volume, LiDAR
4,526 m³
Parcel 21304B0014/00B011, Brussels · tallest building 18.4 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Establishment
since 20202.299.054.012
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21304B0014/00B011 | Brussels | 693 m² | 1 · 545 m² | 18.4 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 15,521 companies in sector 43990 we hold annual accounts for 7,416. 6,216 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
Founded14-01-2020
Fiscal year end30-09
Activities, NACEBEL 2025
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.