Summary
NADACO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €3.6m and a net result of €1,712. Equity is growing by ~14.6% per year across the filed fiscal years. Its solvency ranks better than 42% of 2790 sector peers (fiscal year 2024). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-09-2025, 59 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
not confirmed
2024
59 d late
2023
30 d late
2022
50 d late
2021
26 d late
2020
1 d early
2019
49 d late
← 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 36 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Equity
€3.6m=
2023 · €3.6m
Net result
€1,712▼ 77.8%
2023 · €7,717
Total assets
€7.4m▼ 1.3%
2023 · €7.5m
Solvency
48.3%▲ 0.7pp
2023 · 47.7%
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
Line20202021202220232024
Turnover€816,750€861,000▲ 5.4%€589,116▼ 31.6%€765,500▲ 29.9%€830,000▲ 8.4%
Operating result-€149,794€176,731€56,041▼ 68.3%€76,664▲ 36.8%€31,387▼ 59.1%
Net result-€617,827€120,553€1,658▼ 98.6%€7,717▲ 366%€1,712▼ 77.8%
Equity€1.5m▼ 29.7%€1.6m▲ 8.3%€3.6m▲ 127%€3.6m▲ 0.2%€3.6m=
Total assets€7.4m▼ 10.4%€8.8m▲ 19.1%€8.7m▼ 1.5%€7.5m▼ 13.2%€7.4m▼ 1.3%
Debt€5.9m▼ 4.0%€7.2m▲ 21.7%€5.1m▼ 29.5%€3.9m▼ 22.6%€3.8m▼ 2.5%
Working capital-€2.3m▼ 8.2%-€2.4m▼ 4.2%-€1.3m▲ 46.0%-€1.7m▼ 32.1%-€2.0m▼ 16.8%
Solvency19.8%▼ 5.4pp18.0%▼ 1.8pp41.3%▲ 23.3pp47.7%▲ 6.4pp48.3%▲ 0.7pp
Staff (FTE)0.6▼ 50.0%0.5▼ 16.7%0.5=0.7▲ 40.0%0.7=
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 59% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €7.4m
Fixed assets
€5.8m =
Current assets
€1.7m ▼ 5.1%
Equity and liabilities €7.4m
Equity
€3.6m =
Debt
€3.8m ▼ 2.5%
Debt's share of the balance-sheet total falls from 52.3% to 51.7%. Debt is lower.
Key figures and ratios
ROE
0.0%▼
2023 · 0.2%
ROA
0.0%▼
2023 · 0.1%
Debt ≤ 1 year
€3.6m▲
2023 · €3.5m
Debt > 1 year
€194,853▼
2023 · €489,242
Income taxes
€177▼
2023 · €180
Staff costs
€57,767▲
2023 · €57,271
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €949,598 | €615,255 | €790,338 | €837,794 | ▲ 6.0% |
| Turnover70 | €816,750 | €861,000 | €589,116 | €765,500 | €830,000 | ▲ 8.4% |
| Other operating income74 | - | €47,909 | €26,139 | €24,838 | €7,794 | ▼ 68.6% |
| Non-recurring operating income76A | - | €40,689 | €0 | - | - | - |
| Operating charges60/66A | - | €772,867 | €559,214 | €713,674 | €806,407 | ▲ 13.0% |
| Services and other goods61 | - | €723,469 | €462,579 | €628,994 | €721,979 | ▲ 14.8% |
| Remuneration, social security and pensions62 | - | €39,500 | €39,416 | €57,271 | €57,767 | ▲ 0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €727 | €8,915 | €8,472 | €8,324 | €8,323 | = |
| Other operating charges640/8 | - | €983 | €1,037 | €1,086 | €18,339 | ▲ 1,589% |
| Non-recurring operating charges66A | - | - | €47,709 | €18,000 | €0 | ▼ 100% |
| Operating profit (loss)9901 | -€149,794 | €176,731 | €56,041 | €76,664 | €31,387 | ▼ 59.1% |
| Financial income75/76B | - | €16,188 | €9,629 | €7,585 | €4 | ▼ 100.0% |
| Recurring financial income75 | €14,953 | €16,188 | €9,629 | €7,585 | €4 | ▼ 100.0% |
| Income from current assets751 | - | €16,188 | €9,629 | €7,582 | €0 | ▼ 100% |
| Other financial income752/9 | - | €0 | €0 | €3 | €4 | ▲ 13.2% |
| Non-recurring financial income76B | - | €0 | - | - | - | - |
| Financial charges65/66B | - | €71,964 | €63,523 | €76,352 | €29,502 | ▼ 61.4% |
| Recurring financial charges65 | €111,695 | €71,964 | €63,523 | €76,352 | €29,502 | ▼ 61.4% |
| Debt charges650 | €85,714 | €61,694 | €57,720 | €68,539 | €27,812 | ▼ 59.4% |
| Other financial charges652/9 | - | €10,271 | €5,803 | €7,813 | €1,690 | ▼ 78.4% |
| Non-recurring financial charges66B | - | €0 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€617,320 | €120,954 | €2,146 | €7,897 | €1,889 | ▼ 76.1% |
| Income taxes67/77 | €507 | €402 | €489 | €180 | €177 | ▼ 1.7% |
| Taxes670/3 | - | €402 | €489 | €180 | €177 | ▼ 1.7% |
| Profit (loss) for the period9904 | -€617,827 | €120,553 | €1,658 | €7,717 | €1,712 | ▼ 77.8% |
| Profit (loss) for the period to be appropriated9905 | -€617,827 | €120,553 | €1,658 | €7,717 | €1,712 | ▼ 77.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7.4m | €8.8m | €8.7m | €7.5m | €7.4m | ▼ 1.3% |
| Formation expenses20 | €40,478 | €32,378 | €24,278 | €16,178 | €8,078 | ▼ 50.1% |
| Fixed assets21/28 | €5.7m | €5.8m | €5.8m | €5.8m | €5.8m | = |
| Tangible fixed assets22/27 | €1,296 | €482 | €110 | €555 | €332 | ▼ 40.2% |
| Furniture and vehicles24 | - | €482 | €110 | €555 | €332 | ▼ 40.2% |
| Financial fixed assets28 | €5.7m | €5.8m | €5.8m | €5.8m | €5.8m | = |
| Affiliated companies280/1 | - | €5.8m | €5.8m | €5.8m | €5.8m | = |
| Participating interests280 | - | €5.8m | €5.8m | €5.8m | €5.8m | = |
| Current assets29/58 | €1.7m | €3.0m | €2.9m | €1.8m | €1.7m | ▼ 5.1% |
| Amounts receivable after more than one year29 | - | €499,290 | €315,921 | €333,132 | €333,132 | = |
| Other amounts receivable291 | - | €499,290 | €315,921 | €333,132 | €333,132 | = |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €1.6m | €2.5m | €2.4m | €1.4m | €1.3m | ▼ 5.3% |
| Trade receivables40 | - | €1.0m | €595,992 | €787,244 | €839,665 | ▲ 6.7% |
| Other amounts receivable41 | - | €1.5m | €1.8m | €586,792 | €461,850 | ▼ 21.3% |
| Cash at bank and in hand54/58 | €355 | €3,784 | €132,535 | €23,138 | €1,277 | ▼ 94.5% |
| Deferred charges and accrued income490/1 | - | €36,613 | €48,508 | €31,636 | €36,232 | ▲ 14.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7.4m | €8.8m | €8.7m | €7.5m | €7.4m | ▼ 1.3% |
| Equity10/15 | €1.5m | €1.6m | €3.6m | €3.6m | €3.6m | = |
| Contributions10/11 | - | €1.6m | €3.6m | €3.6m | €3.6m | = |
| Reserves13 | €189,916 | €189,916 | €189,916 | €189,916 | €189,916 | = |
| Non-distributable reserves130/1 | - | €9,496 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €9,496 | €0 | - | - | - |
| Distributable reserves133 | - | €180,420 | €189,916 | €189,916 | €189,916 | = |
| Profit (loss) carried forward14 | -€370,042 | -€249,489 | -€247,832 | -€240,114 | -€238,403 | ▲ 0.7% |
| Amounts payable17/49 | €5.9m | €7.2m | €5.1m | €3.9m | €3.8m | ▼ 2.5% |
| Amounts payable after more than one year17 | €2.0m | €1.8m | €902,617 | €489,242 | €194,853 | ▼ 60.2% |
| Financial debts170/4 | - | €1.8m | €902,617 | €489,242 | €194,853 | ▼ 60.2% |
| Subordinated loans170 | - | €600,000 | €0 | - | - | - |
| Unsubordinated bonds171 | - | €160,000 | €122,719 | €0 | - | - |
| Credit institutions173 | - | €1.1m | €779,898 | €489,242 | €194,853 | ▼ 60.2% |
| Amounts payable within one year42/48 | €3.9m | €5.4m | €4.2m | €3.5m | €3.6m | ▲ 5.6% |
| Current portion of amounts payable after more than one year42 | - | €320,526 | €294,910 | €291,272 | €294,389 | ▲ 1.1% |
| Financial debts43 | - | €0 | - | €393,188 | €80,169 | ▼ 79.6% |
| Credit institutions430/8 | - | €0 | - | €393,188 | €80,169 | ▼ 79.6% |
| Trade debts44 | €521,332 | €946,326 | €243,588 | €183,607 | €203,189 | ▲ 10.7% |
| Suppliers440/4 | - | €946,326 | €243,588 | €183,607 | €203,189 | ▲ 10.7% |
| Taxes, remuneration and social security45 | - | €15,810 | €19,467 | €11,621 | €7,979 | ▼ 31.3% |
| Taxes450/3 | - | €9,424 | €12,883 | €2,449 | €1,488 | ▼ 39.2% |
| Remuneration and social security454/9 | - | €6,386 | €6,584 | €9,172 | €6,491 | ▼ 29.2% |
| Other amounts payable47/48 | - | €4.1m | €3.6m | €2.6m | €3.1m | ▲ 19.0% |
| Accrued charges and deferred income492/3 | - | - | €12,629 | €0 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€617,827 | €120,553 | €1,658 | €7,717 | €1,712 | ▼ 77.8% |
| + Depreciation and write-downs630 | €727 | €8,915 | €8,472 | €8,324 | €8,323 | = |
| Operating cash flow (approximation) | -€617,100 | €129,467 | €10,130 | €16,041 | €10,035 | ▼ 37.4% |
| Investment in fixed assets (approximation) | - | -€61,835 | -€8,100 | -€8,769 | -€8,100 | ▲ 7.6% |
| Change in cash | - | €3,429 | €128,751 | -€109,397 | -€21,861 | ▲ 80.0% |
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
2025
28-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 59 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
19-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 50 days late
2022
31-12
Financial
Equity above €2mEq €3.6m ▲127%
2 profitable years in a row build equity to €3.6m.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
31-12
Financial
Back to profitnet €120,553
Net result €120,553 after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet -€617,827
Net result drops to -€617,827, the lowest in the series; recovery starts the following year.
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 49 days late
2019
31-12
Financial
Highest result since 2018net €247,785 ▲11.2%
Operating result €454,285, net result €247,785, both a record.
31-12
Financial
Equity above €2mEq €2.1m ▲13.5%
2 profitable years in a row build equity to €2.1m.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
27-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
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, Tessenderlo-Ham
Ground area
4,614 m²
Building footprint
875 m²
Volume, LiDAR
3,227 m³
Parcel 71363C0296/00T000, Flanders · tallest building 6.7 m, ±1 floor. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71363C0296/00T000 | Flanders | 4,614 m² | 1 · 875 m² | 6.7 m · 1 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.
Structure & network
Part of the group
MAN@THEWHEEL
39 companies
Group, risk and exposure
Owners and holdings
3 owners · 6 holdingsChain of control
- MAN@THEWHEEL
- ARO
- NADACO
Highest known parent: MAN@THEWHEEL. The sources do not say who stands above it.
Owners 3
- AROparentSourceaccounts ARO 202551%
-
8.15%
-
3.26%
Holdings 6
-
100%
- Sourceown accounts 2024Equity €552,846Result €46,487100%
-
100%
-
100%
-
100%
-
100%
According to the 2024 annual accounts of NADACO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 2 entries · 567 EUR awarded · 567 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 402 EUR | 402 EUR |
| 2022 | 1 | 165 EUR | 165 EUR |
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 9,154 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
Founded11-05-2012
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0845879293
Registered
17-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.