Adfil
ActiveSummary
Adfil has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €6.66M and a net result of €2.42M. Equity is growing by ~20.6% per year across the filed fiscal years. Its solvency ranks better than 46% of 307 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
74
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability92▼-2
Solvency71▲+10
Growth56▲+4
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €490k at 30 days acceptable
Liquidity tight (current ratio 1.39 against 1.16 in 2023; short-term debt: 43.5% and cash: 12.6% of total assets), and 54% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 20
Relative position
BE, all sectors
reference
Sector 20
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
46%
Return on assets
16.7%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-07-2025, 7 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
7 d early
2023
on the day
2022
21 d early
2021
40 d early
2020
36 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema, statutory accounts
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€18.70M▲ 11.0%
2023 · €16.85M
2020: €24.45M
2021: €19.21M
2022: €28.50M
2023: €16.85M
2020 → 2024
EBIT margin
16.9%▼ 1.4pp
2023 · 18.2%
2020: 7.9%
2021: 8.6%
2022: 8.3%
2023: 18.2%
2020 → 2024
Net result
€2.42M▲ 16.6%
2023 · €2.07M
2020: €1.96M
2021: €8.03M
2022: €2.24M
2023: €2.07M
2020 → 2024
Working capital
€2.47M▲ 177%
2023 · €890k
2020: €-417k
2021: €-74k
2022: €566k
2023: €890k
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€24.45M-€19.21M▼ 21.4%€28.50M▲ 48.3%€16.85M▼ 40.9%€18.70M▲ 11.0%
Equity€2.46M-€10.49M▲ 326%€12.72M▲ 21.3%€4.24M▼ 66.7%€6.66M▲ 57.1%
Operating result€1.92M-€1.66M▼ 13.5%€2.38M▲ 43.2%€3.07M▲ 29.2%€3.15M▲ 2.6%
Net result€1.96M-€8.03M▲ 310%€2.24M▼ 72.1%€2.07M▼ 7.3%€2.42M▲ 16.6%
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 3% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €14.46M
Fixed assets
€5.71M ▲ 7.0%
Current assets
€8.75M ▲ 32.8%
Equity and liabilities €14.46M
Equity
€6.66M ▲ 57.1%
Debt
€7.80M ▲ 1.5%
Debt's share of the balance-sheet total falls from 64.5% to 54.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€3.60M▲
2023 · €3.48M
Cash flow
€2.87M▲
2023 · €2.48M
Current ratio
1.39▲
2023 · 1.16
Quick ratio
0.89▲
2023 · 0.63
Debt to equity
1.17▼
2023 · 1.81
ROE
36.3%▼
2023 · 49.0%
ROA
16.7%▼
2023 · 17.4%
Interest coverage
28.04▲
2023 · 14.19
Debt ≤ 1 year
€6.29M▲
2023 · €5.70M
Debt > 1 year
€1.32M▼
2023 · €1.82M
Income taxes
€575k▲
2023 · €538k
Staff costs
€2.95M▲
2023 · €2.79M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 85 lines
Balance sheet
Code20232024
Assets
Total assets20/58€11.93M€14.46M▲
Fixed assets21/28€5.33M€5.71M▲
Intangible fixed assets21€60k€130k▲
Tangible fixed assets22/27€3.02M€3.32M▲
Plant, machinery and equipment23€2.80M€3.13M▲
Furniture and vehicles24€7k€4k▼
Other tangible fixed assets26€211k€180k▼
Financial fixed assets28€2.26M€2.26M=
Affiliated companies280/1€2.04M€2.04M=
Participating interests280€2.04M€2.04M=
Companies linked by participating interests282/3€210k€210k=
Participating interests282€210k€210k=
Other financial fixed assets284/8€8k€8k=
Amounts receivable and cash guarantees285/8€8k€8k=
Current assets29/58€6.59M€8.75M▲
Stocks and contracts in progress3€3.02M€3.15M▲
Stocks30/36€3.02M€3.15M▲
Raw materials and consumables30/31€900k€728k▼
Finished goods33€1.85M€1.89M▲
Goods purchased for resale34€263k€525k▲
Amounts receivable within one year40/41€1.87M€3.74M▲
Trade receivables40€1.75M€3.42M▲
Other amounts receivable41€112k€325k▲
Cash at bank and in hand54/58€1.66M€1.83M▲
Deferred charges and accrued income490/1€54k€35k▼
Equity and liabilities
Total equity and liabilities10/49€11.93M€14.46M▲
Equity10/15€4.24M€6.66M▲
Contributions10/11€152k€152k=
Capital10€152k€152k=
Issued capital100€152k€152k=
Reserves13€4.09M€6.50M▲
Non-distributable reserves130/1€20k€20k=
Legal reserve130€20k€20k=
Tax-exempt reserves132€399k€342k▼
Distributable reserves133€3.67M€6.14M▲
Amounts payable17/49€7.69M€7.80M▲
Amounts payable after more than one year17€1.82M€1.32M▼
Financial debts170/4€1.82M€1.32M▼
Credit institutions173€1.82M€1.32M▼
Amounts payable within one year42/48€5.70M€6.29M▲
Current portion of amounts payable after more than one year42€775k€507k▼
Financial debts43€192k-
Credit institutions430/8€192k-
Trade debts44€1.58M€3.13M▲
Suppliers440/4€1.58M€3.13M▲
Taxes, remuneration and social security45€1.49M€1.04M▼
Taxes450/3€763k€566k▼
Remuneration and social security454/9€727k€473k▼
Other amounts payable47/48€1.66M€1.62M▼
Accrued charges and deferred income492/3€162k€199k▲
Income statement
Code20232024
Operating income70/76A€20.26M€20.67M▲
Turnover70€16.85M€18.70M▲
Change in stocks of work in progress, finished goods and contracts in progress71€782k€55k▼
Other operating income74€2.63M€1.92M▼
Operating charges60/66A€17.19M€17.52M▲
Goods for resale, raw materials and consumables60€7.62M€7.30M▼
Purchases600/8€7.40M€7.39M▼
Change in stocks: decrease (increase)609€223k€-90k▼
Services and other goods61€5.88M€6.76M▲
Remuneration, social security and pensions62€2.79M€2.95M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€403k€450k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€320k€17k▼
Other operating charges640/8€62k€44k▼
Non-recurring operating charges66A€114k-
Operating profit (loss)9901€3.07M€3.15M▲
Financial income75/76B€41k€49k▲
Recurring financial income75€41k€49k▲
Income from current assets751€6k€1k▼
Other financial income752/9€35k€48k▲
Financial charges65/66B€501k€206k▼
Recurring financial charges65€306k€206k▼
Debt charges650€245k€128k▼
Other financial charges652/9€61k€78k▲
Non-recurring financial charges66B€195k-
Profit (loss) for the period before taxes9903€2.61M€2.99M▲
Income taxes67/77€538k€575k▲
Taxes670/3€538k€605k▲
Tax adjustments and reversals of tax provisions77-€30k
Profit (loss) for the period9904€2.07M€2.42M▲
Transfer from tax-exempt reserves789-€58k
Profit (loss) for the period to be appropriated9905€2.07M€2.48M▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.07M€2.48M▲
Transfer to equity691/2€2.07M€2.48M▲
To other reserves6921€2.07M€2.48M▲
Social balance
Average headcount (FTE)908739.539.0▼
The notes to these accounts (67 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €5MEq €6.66M ▲57.1%
5 profitable years in a row build equity to €6.66M.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
10-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2020net €8.03M ▲310%
Net result €8.03M, the highest in the series.
31-12
Financial
Equity above €10MEq €10.49M ▲326%
2 profitable years in a row build equity to €10.49M.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · consolidated
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 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, Zele · 1 establishment unit since 2019
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Industriestraat 399240 ZeleGround area
1.3 ha
Building footprint
7,685 m²
Volume, LiDAR
43,026 m³
Parcel 42028A1379/00Y002, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Adfil
since 20192.289.943.039
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42028A1379/00Y002 | Flanders | 1.3 ha | 1 · 7,685 m² | 10.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 5 entries · 73,121 EUR awarded · 73,378 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 3 | 41,492 EUR | 41,749 EUR |
| 2022 | 2 | 31,629 EUR | 31,629 EUR |
Schemes
Subsidies voor internationaal ondernemen
Vlaams opleidingsverlof (VOV)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
69940010O1WF0LWC6A77
Similar companies · same sector, comparable size
DS Fiberlink
BE 0425.100.817
Dendermonde · Eq €6.97M
LUXILON INDUSTRIES
BE 0443.802.417
Wijnegem · Eq €5.44M
PLASCOBEL
BE 0808.587.941
Pelt · Eq €8.48M
INTASA
BE 0405.047.650
Schilde · Eq €8.69M
MECONDOR
BE 0418.203.325
Sankt Vith · Eq €9.23M
Of 33 companies in sector 20600 we hold annual accounts for 27. 16 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded17-05-2019
Fiscal year end31-12
Activities, NACEBEL 2025
20600Manufacture of chemicals and chemical products
46869Wholesale trade
13100Manufacture of textiles
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
3 entriesE-mail:cd@deltafin.be
E-mail:tw@adfil.com
Phone:+32475507500