Equity
€70,236 from €176,197 in 2023
Equity fell by 60% in 2 years.
KADR
Lifetime
4 annual accounts with figures on one time axispeak €169,194 (2023)
-€126,142
lowest -€141,829 (2025)
-€141,829
peak €176,197 (2023)
€70,236
€251,115
Board1 name since 2020
1 directorDUCHNOWSKI Dariusz
Documentsfilings and deeds
28-05-202628 days late
2025micro format
Loss of €141,829No figures for the year before
Key points
from the 2025 annual accountsDebts
€251,115 78% of the balance sheet
Suppliers 29%Taxes and wages 38%Other 33%
Position in the sector
-€141,829
Lower net result than 95% of companies in specialised construction. Sector median €10,189 · 35,113 companies.
2025 accounts filed 28 days after the deadlineTurnover not published (micro format)
Checked score
46
Fair
Financially stronger than 11% of micro companies in specialised construction (NACE 43)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
4.3% Elevated
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.3%
01-2025: 3.4%▲ +0.1 percentage points vs 12-2024
02-2025: 3.3%▼ -0.1 percentage points vs 01-2025
03-2025: 3.3%● unchanged vs 02-2025
04-2025: 3.2%▼ -0.1 percentage points vs 03-2025lowest value
05-2025: 3.9%▲ +0.7 percentage points vs 04-2025
06-2025: 4.0%▲ +0.1 percentage points vs 05-2025
07-2025: 5.2%▲ +1.2 percentage points vs 06-2025
08-2025: 5.3%▲ +0.1 percentage points vs 07-2025
09-2025: 5.9%▲ +0.6 percentage points vs 08-2025
10-2025: 7.5%▲ +1.6 percentage points vs 09-2025
11-2025: 7.5%● unchanged vs 10-2025
12-2025: 7.9%▲ +0.4 percentage points vs 11-2025
01-2026: 7.3%▼ -0.6 percentage points vs 12-2025
02-2026: 7.3%● unchanged vs 01-2026
03-2026: 7.2%▼ -0.1 percentage points vs 02-2026
04-2026: 7.2%● unchanged vs 03-2026
05-2026: 8.7%▲ +1.5 percentage points vs 04-2026highest value
06-2026: 4.3%▼ -4.4 percentage points vs 05-2026
07-2026: 4.3%● unchanged vs 06-2026
08-2026: 4.3%● unchanged vs 07-2026
09-2026: 4.3%● unchanged vs 08-2026
10-2026: 4.3%● unchanged vs 09-2026
11-2026: 4.3%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 1.22, cash €261
Last filed accounts filed 28 days late; 1 of the last 3 accounts late
Loss of €141,829 (financial year 2025)
Sector: Specialised construction activities (NACE 43)
Calculation
The band follows from the bankruptcy probability. 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 43, micro). It does better than 23% of them on solvency, 5% on liquidity and 4% on profitability.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the elevated class on 30-06-2025, 6.3% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,133 companies had the same profile as KADR has now. Each dot stands for 3 companies, two years later.
86.4%
were still trading
6.6%
stopped another way
6.4%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of KADR itself: 4.3% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,133 companies, not a prediction for KADR. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €3,000 on 30-day terms, only on tighter conditions: elevated estimated bankruptcy probability calls for adjusted credit terms
Liquidity is tight, with a current ratio of 1.22 (1.31 in 2023), below the usual 1.5. Short-term debt is 78.1% and cash 0.1% of total assets. 78.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 35125 sector peers (2025).
NBB · sector comparisonPosition among 35125 sector peers
Solvency
better than 24%
← weakest
strongest →
raises risk · 2025 accounts filed 28 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 4 filingsDeviation from the deadline
2025
28 days late
2023
28 days late
2022
394 days late
2021
759 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 4 accounts on average 302 days after the deadline. In the sector (NACE 43), the median for financial year 2023 was 1 day before the deadline, and 44% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 28 November (3 of the last 4 accounts filed within 184 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end10-11-2026 today30-04-2027 deadline
Recent changes
Incorporation
Gazette deed
Incorporation
Founding capital of €5,000, 100 shares · Founder: DUCHNOWSKI Dariusz · Appointment: DUCHNOWSKI Dariusz (director) · published on 16-01-2020 · Gazette deed
First establishment
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| KADR | €321,350 | -€126,142 | 21.9% | - |
| Woningbouw My House Heist-op-den-Berg | €338,409 | -€42,035 | 7.9% | - |
| T-RENOVA BATI Sint-Pieters-Leeuw | €332,626 | -€79,097 | -22.4% | - |
| IB CONSTRUCT Ghent | €342,278 | -€18,590 | 9.2% | - |
| CONSTANTIN CONSTRUCTION Anderlecht | €270,766 | -€130,181 | 75.0% | - |
| OSTEAM Staden | €359,788 | €160 | 26.3% | - |
| DS RENOVATIES Leuven | €261,622 | -€7,038 | 10.4% | - |
These companies have the same main activity as KADR: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €262,000 and €360,000, founded between 2019 and 2020.
Official details
Source: KBO- Status
- Active since 14-01-2020Normal situation
- Legal form
- Private limited company
- Activity
- Other specialised construction activitiesNACE 43990
- Establishment unit
- 2.299.054.012since 14-01-2020
- Financial year end
- 30 September
- Peppol
- Not found in the Peppol Directory
Insights on KADR
KADR files the micro format. That format states no turnover. The gross margin fell from €88,836 in 2021 to -€126,142 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about KADR
- What is the company number of KADR?
- The company number of KADR is 0741.517.092. The VAT number is the same number with BE in front: BE 0741.517.092.
- What does KADR do?
- According to the KBO register, the main activity is other specialised construction activities (NACE 43990).
- What is the legal form of KADR?
- KADR is a private limited company (BV).
- When was KADR founded?
- KADR was founded on 14-01-2020.
- Is KADR still active?
- Yes, KADR is an active enterprise in the KBO register.Company details
- What is the turnover of KADR?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is KADR profitable?
- In financial year 2025, KADR made a loss of €141,829.
- Where can I find the annual accounts of KADR?
- KADR filed 4 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of KADR due?
- KADR must file the annual accounts for financial year 2026 by 30-04-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can trust this company with building work.Contractor check Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark
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