Active BE 0400.338.992Public limited company

Nouvel Adem

Rue Saint-Roch 20 ·1300 Wavre, Belgium· 61 yrs active

Sector: Vervaardiging van elektrische huishoudapparaten (27510)

Conclusion Checked

The computed 12-month bankruptcy probability of Nouvel Adem is 0.7% (low). The 2024 annual accounts show equity of €35k and a net result of €-66k. Equity is shrinking by ~11.5% per year across the filed fiscal years. Its solvency ranks better than 20% of 107 sector peers (fiscal year 2024). The company has been active since 1965 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 7 annual accounts.

Key figures

Equity	€35k
Net result	€-66k
Staff (FTE)	5.3
Better than sector	20%

Financial profile 5 of 5 axes measured · computed by Checked

29 / 100

Fragile profile, watch profitability in particular.

All 5 axes are computed from data Checked has read.

Health 9

Profitability 2

Solvency 8

Growth 27

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.7% Low

0%0,5%1,5%4%10%≥25%

Higher-failure-rate sector +Long track record −Lower-risk legal form −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Long-established

Founded in 1965, 61 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Health barometer FY 2024 · computed

9 / 100 Critical

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Financial overview10 NBB filings

Annual accounts filed on 18-07-2025 with the NBB · fiscal year 2024 · volledig

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~11.5%/year over 7 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 27 · compared across all schema types (micro, abbreviated and full combined)

Metric	This company	Sector median	Position in the sector
Solvency	2.1%	31.3%	better than 20% of 107 sector peers
Net result	€-66k	€1k	better than 14% of 108 sector peers
Equity	€35k	€61k	better than 39% of 108 sector peers
Gross operating margin	€312k	€28k	better than 88% of 98 sector peers
Staff costs	€293k	€144k	higher than 61% of 45 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Revenue

€991k

-17.2% 18-24

EBITDA

€11k

-88.9% 18-24

Net profit

€-66k

-227.2% 18-24

Cash flow

€-18k

- 18-24

Total assets

€1.67M

+9.9% 18-24

Equity

€35k

-65.3% 18-24

Working capital

€-252k

-50.6% 18-24

Employees (FTE)

5

-8.6% 18-24

Show 14 other metrics

Staff costs

€293k

+26.1% 18-24

Income taxes

€776

-97.3% 18-24

Debt

€1.63M

+15.3% 18-24

Debt ≤ 1y

€1.36M

+27.3% 18-24

Debt > 1y

€276k

-21.4% 18-24

Current ratio

0.81

-3.4% 18-24

Quick ratio

0.72

+1.2% 18-24

Solvency

2.1%

-68.4% 18-24

Debt / equity

46.36

+232.4% 18-24

ROE

-188.3%

-843.4% 18-24

ROA

-4.0%

-197.7% 18-24

Net margin

-6.7%

-295.4% 18-24

EBITDA margin

1.1%

-86.6% 18-24

Interest coverage

0.39

-90.5% 18-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	volledig
Revenue	€991k
EBITDA	€11k
Net profit	€-66k
Cash flow	€-18k
Staff costs	€293k
Income taxes	€776
Dividends	-
Total assets	€1.67M
Equity	€35k
Debt	€1.63M
of which ≤ 1y	€1.36M
of which > 1y	€276k
Working capital	€-252k
Employees (FTE)	5.3

Ratios (computed)

	2024
Current ratio	0.81
Quick ratio	0.72
Working capital ratio	-15.1%
Solvency	2.1%
Debt / equity	46.36
Long-term debt ratio	7.82
Interest coverage	0.39
Gross margin	23.5%
Net margin	-6.7%
ROA	-4.0%
ROE	-188.3%
EBITDA margin	1.1%
Days sales outstanding	332d
Days payable outstanding	164d
Inventory turnover	6.17
Days inventory (DSI)	59d

Balance-sheet composition 2024

Assets

Fixed assets €563k · 33.7% Current assets €1.11M · 66.3%

Equity & liabilities

Equity €35k · 2.1% Debt €1.63M · 97.9%

Full annual accounts (27 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.67M
Fixed assets	21/28	€563k
Tangible fixed assets	22/27	€557k
Financial fixed assets	28	€6k
Current assets	29/58	€1.11M
Stocks & contracts in progress	3	€123k
Amounts receivable within one year	40/41	€923k
Investments	50/53	€56k
Cash & bank	54/58	€4k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.67M
Equity	10/15	€35k
Contributions / capital	10/11	€62k
Reserves	13	€81k
Accumulated profits (losses)	14	€-108k
Amounts payable	17/49	€1.63M
Amounts payable after one year	17	€276k
Amounts payable within one year	42/48	€1.36M
Trade debts payable within one year	44	€342k
Income statement
Turnover	70	€991k
Gross operating margin	9900	€312k
Operating result	9901	€-37k
Financial income	75	€112
Financial charges	65	€29k
Result before taxes	9903	€-66k
Income taxes	67/77	€776
Net result for the period	9904	€-66k
Result to be appropriated	9905	€-66k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Legal Structure

NACE primary	Vervaardiging van elektrische huishoudapparaten(27510)
Legal form	Public limited company(014)
Incorporation	08-05-1965
Status	Active
Postal code	1300

Establishment units 1 location

ADEM

Rue Saint-Roch 20, 1300 WavreVervaardiging van elektrische huishoudapparaten

since 19652.000.793.660

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
25112D0239/00K000	Wallonia	143 m²	1 · 119 m²	12.6 m · 4 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025

18-07-2025

NBB filing Annual accounts filed

fiscal year 2024 · volledig

12-02-2025

State Gazette act Director changes

Sarah DE SPIEGELEIRE

2024

31-08-2024

NBB filing Annual accounts filed

fiscal year 2023 · volledig

2023

25-08-2023

NBB filing Annual accounts filed

fiscal year 2022 · volledig

2022

25-08-2022

NBB filing Annual accounts filed

fiscal year 2021 · volledig

2021

24-08-2021

NBB filing Annual accounts filed

fiscal year 2020 · volledig

2020

15-09-2020

NBB filing Annual accounts filed

fiscal year 2019 · volledig

2019

30-07-2019

NBB filing Annual accounts filed

fiscal year 2018 · volledig

2018

31-07-2018

NBB filing Annual accounts filed

fiscal year 2017 · volledig

2017

24-08-2017

NBB filing Annual accounts filed

fiscal year 2016 · volledig

2016

31-08-2016

NBB filing Annual accounts filed

fiscal year 2015 · volledig

Belgian State Gazette reading coverage 0 of 3 acts read

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 1 year ago

2025

12-02-2025 Board composition published Director changes·Sarah DE SPIEGELEIRE

Notary: Sarah DE SPIEGELEIRE · WavreFirm: WATHELET & NAVEZ, Notaires Associés

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Vervaardiging van elektrische huishoudapparaten27510Detailhandel in elektrische huishoudapparaten47540Detailhandel in elektrische huishoudapparaten en in audio- en videoapparatuur52450

Primary activity highlighted.

Names & trade names

Legal nameFR

Nouvel Adem

Registered office

Rue Saint-Roch 20

1300 Wavre, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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