TADEX
ActiveSummary
The computed 12-month bankruptcy probability of TADEX is 2.0% (moderate). The 2025 annual accounts show negative equity (-€8,447) and a net result of -€36,659. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 5% of 34,954 sector peers (NACE 43, financial year 2025). The company has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 06-09-2005 Normal situation
- Activity
- Other specialised construction activities NACE 43990and 4 others
- Establishment unit
- 2.150.639.062 1060 Sint-Gillis (bij-Brussel), since 05-09-2005
- Financial year end
- 31 December
- Peppol
- Reachable since 17-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.0%
- Turnover
- €310,215
- ▼ 44.8%
- Loss
- €36,659
- Equity
- -€8,447
- Total assets
- €33,600
- ▼ 14.8%
- Staff
- ≈ 1.1 FTE
- estimated
- Negative equity on 31-12-2025
Score breakdownraises riskLoss of €36,659 (financial year 2025)Negative equity -€8,447lowers riskSize: turnover €310,215, total assets €33,600Founded in 2005Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
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 3% of them on solvency, 9% on liquidity, 4% on profitability and 6% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 14 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 12-05-2026 PDF all 20 filings
Every figure per financial year
The operating result for 2025 is a loss of €36,608, after a profit of €46,077 in 2024.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,584 | €9,605 | €7,343 | €1,097 | - |
| Depreciation and write-downs of the year | €31,121 | €15,421 | €15,381 | €11,024 | €2,936 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €529,836 | €454,038 | €501,807 | €504,824 | €518,867 | €623,621 | €562,404 | €310,215 | ▼ 44.8% |
| Non-recurring operating income76A | - | - | - | - | €1,349 | €730 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €416,941 | €459,484 | €593,448 | €437,845 | €276,214 | ▼ 36.9% |
| Remuneration, social security and pensions62 | - | - | - | €48,000 | €46,494 | €56,936 | €60,023 | €62,545 | ▲ 4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,149 | €25,854 | €33,723 | €31,121 | €15,421 | €15,381 | €11,024 | €2,936 | ▼ 73.4% |
| Other operating charges640/8 | - | - | - | €5,293 | €7,652 | €3,607 | €3,411 | €4,730 | ▲ 38.7% |
| Non-recurring operating charges66A | - | - | - | €2,370 | €1,570 | €1,080 | €4,024 | €398 | ▼ 90.1% |
| Gross operating margin9900 | €45,672 | €81,450 | €117,012 | €87,883 | €59,383 | €30,173 | €124,559 | €34,001 | ▼ 72.7% |
| Operating profit (loss)9901 | -€10,022 | €21,342 | €30,038 | €1,099 | -€11,754 | -€46,831 | €46,077 | -€36,608 | - |
| Financial income75/76B | - | - | - | €3 | - | - | €8 | - | - |
| Recurring financial income75 | - | €1 | - | €3 | - | - | €8 | - | - |
| Financial charges65/66B | - | - | - | €273 | €82 | €80 | €2,324 | €51 | ▼ 97.8% |
| Recurring financial charges65 | €863 | €761 | €482 | €273 | €82 | €80 | €2,324 | €51 | ▼ 97.8% |
| Profit (loss) for the period before taxes9903 | -€10,885 | €20,582 | €29,556 | €829 | -€11,836 | -€46,911 | €43,761 | -€36,659 | - |
| Income taxes67/77 | - | €3,970 | - | €13,553 | - | €1,263 | - | - | - |
| Profit (loss) for the period9904 | -€10,885 | €16,612 | €29,556 | -€12,724 | -€11,836 | -€48,174 | €43,761 | -€36,659 | - |
| Profit (loss) for the period to be appropriated9905 | -€10,885 | €16,612 | €29,556 | -€12,724 | -€11,836 | -€48,174 | €43,761 | -€36,659 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €88,134 | €93,109 | €113,753 | €100,249 | €67,947 | €26,467 | €39,417 | €33,600 | ▼ 14.8% |
| Fixed assets21/28 | €69,156 | €48,282 | €62,764 | €32,477 | €26,661 | €18,623 | €5,354 | €2,418 | ▼ 54.8% |
| Tangible fixed assets22/27 | €68,940 | €48,066 | €55,798 | €32,261 | €26,445 | €18,407 | €5,138 | €2,202 | ▼ 57.1% |
| Plant, machinery and equipment23 | - | - | - | €3,393 | €1,761 | €3,059 | €1,739 | €870 | ▼ 50.0% |
| Furniture and vehicles24 | - | - | - | €28,868 | €24,684 | €15,348 | €3,399 | €1,332 | ▼ 60.8% |
| Financial fixed assets28 | €216 | €216 | €6,966 | €216 | €216 | €216 | €216 | €216 | = |
| Current assets29/58 | €18,978 | €44,827 | €50,989 | €67,772 | €41,286 | €7,844 | €34,063 | €31,182 | ▼ 8.5% |
| Stocks and contracts in progress3 | - | - | - | €36,539 | - | - | - | - | - |
| Stocks30/36 | - | - | - | €36,539 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €4,559 | €25,871 | €30,907 | €17,125 | €18,328 | €386 | €23,859 | €26,532 | ▲ 11.2% |
| Trade receivables40 | - | - | - | €797 | €9,378 | €386 | €22,288 | €26,532 | ▲ 19.0% |
| Other amounts receivable41 | - | - | - | €16,328 | €8,950 | - | €1,571 | - | - |
| Cash at bank and in hand54/58 | €9,826 | €13,307 | €16,177 | €10,065 | €18,811 | €3,304 | €2,707 | €4,343 | ▲ 60.4% |
| Deferred charges and accrued income490/1 | - | - | - | €4,043 | €4,147 | €4,154 | €7,497 | €307 | ▼ 95.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €88,134 | €93,109 | €113,753 | €100,249 | €67,947 | €26,467 | €39,417 | €33,600 | ▼ 14.8% |
| Equity10/15 | €11,016 | €27,628 | €57,185 | €44,461 | €32,625 | -€15,549 | €28,212 | -€8,447 | - |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | €6,200 | €6,200 | €6,200 | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | €18,600 | - | - | - |
| Uncalled capital101 | - | - | - | €12,400 | €12,400 | €12,400 | - | - | - |
| Reserves13 | €35,860 | €75,860 | €35,860 | €35,860 | €35,860 | €35,860 | €35,860 | €35,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €34,000 | €34,000 | €34,000 | €35,860 | €35,860 | = |
| Profit (loss) carried forward14 | -€31,044 | -€54,432 | €15,125 | €2,401 | -€9,435 | -€57,609 | -€13,848 | -€50,507 | ▼ 265% |
| Amounts payable17/49 | €77,118 | €65,481 | €56,568 | €55,788 | €35,322 | €42,016 | €11,205 | €42,047 | ▲ 275% |
| Amounts payable after more than one year17 | €30,248 | €17,733 | €5,218 | €5,218 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €5,218 | - | - | - | - | - |
| Amounts payable within one year42/48 | €46,870 | €47,748 | €51,350 | €50,570 | €35,322 | €42,016 | €11,205 | €42,047 | ▲ 275% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €4 | - | - | €1,500 | - |
| Trade debts44 | €24,930 | €29,600 | €26,878 | €38,520 | €21,629 | €22,869 | €4,578 | €20,931 | ▲ 357% |
| Suppliers440/4 | - | - | - | €38,520 | €21,629 | €22,869 | €4,578 | €20,931 | ▲ 357% |
| Taxes, remuneration and social security45 | - | - | - | €10,580 | €11,904 | €17,555 | €5,035 | €11,652 | ▲ 131% |
| Taxes450/3 | - | - | - | €481 | €458 | - | - | - | - |
| Remuneration and social security454/9 | - | - | - | €10,099 | €11,446 | €17,555 | €5,035 | €11,652 | ▲ 131% |
| Other amounts payable47/48 | - | - | - | €1,470 | €1,785 | €1,592 | €1,592 | €7,964 | ▲ 400% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,885 | €16,612 | €29,556 | -€12,724 | -€11,836 | -€48,174 | €43,761 | -€36,659 | - |
| + Depreciation and write-downs630 | €26,149 | €25,854 | €33,723 | €31,121 | €15,421 | €15,381 | €11,024 | €2,936 | ▼ 73.4% |
| Operating cash flow (approximation) | €15,264 | €42,466 | €63,279 | €18,397 | €3,585 | -€32,793 | €54,785 | -€33,723 | - |
| Investment in fixed assets (approximation) | - | -€4,980 | -€48,205 | -€834 | -€9,605 | -€7,343 | €2,245 | €0 | ▼ 100% |
| Change in cash | - | €3,481 | €2,870 | -€6,112 | €8,746 | -€15,507 | -€597 | €1,636 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 6,619 companies had the same profile as TADEX has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TADEX itself: 2.0% within 12 months.
Test of the method
The method was tested on the 497,446 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 6,619 companies, not a prediction for TADEX. 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.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-05-2026 | 2026-00108861 | |
| 31-12-2024 | micro format | 05-08-2025 | 2025-00358023 | |
| 31-12-2023 | micro format | 14-08-2024 | 2024-00344042 | |
| 31-12-2022 | micro format | 29-07-2023 | 2023-00289475 | |
| 31-12-2021 | micro format | 24-07-2022 | 2022-20215007 | |
| 31-12-2020 | full format | 27-06-2021 | 2021-26200469 | |
| 31-12-2019 | full format | 03-08-2020 | 2020-39000099 | |
| 31-12-2018 | full format | 25-07-2019 | 2019-38700542 | |
| 31-12-2017 | full format | 20-06-2018 | 2018-20400035 | |
| 31-12-2016 | full format | 22-05-2017 | 2017-12900270 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 15-02-2024 Converted to available equity
Network & group
Companies at the same address
2 other companiesConnections & network
See the function holders in the KBO register.
Timeline
Acts, filings and financial milestones
15-02
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsCapital conversion5 points ▸
- Other provision, “délivrance avant enregistrement, avant enregistrement” (deed in French)
- General meeting, 08-01-2024
- Capital conversion, 01-01-2020
- Capital conversion, “compte de capitaux propres disponible” (deed in French)
- Amendment of the articles
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
17 activities
- De maçonnerie et de béton
- De plafonneur-cimentier
- De vitrage
- De menuisier-charpentier
- De carrelage
- D'étanchéité de constructions
- De travaux de démolition
- D'autres travaux de terrassement
- De travaux de route et de construction d'ouvrages non métalliques
- D'aménagement et entretien de terrains divers
- De travaux de gros-œuvre
- De travaux de rejointoyement
- D'étanchéité et couverture de constructions par asphaltages et bitumage
- D'isolation thermiques et acoustique
- De revêtement de murs et de sols
- De travaux de vitreries
- D'activités diverses
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0875.891.786
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21562A0193/00H003 | Brussels | 77 m² | 1 · 69 m² | 21.7 m · 5 |