ADIFO VASTGOED 2
ActiveSummary
ADIFO VASTGOED 2 has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €320k and a net result of €88k. Equity is growing by ~39% per year across the filed fiscal years. Its solvency ranks better than 20% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability54▲+3
Solvency31▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days acceptable
Liquidity ample (current ratio 1.86 against 1.48 in 2024; short-term debt: 4.5% and cash: 2.2% of total assets), but 94% of the assets are financed with debt.
Credit advice 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 68
Relative position
BE, all sectors
reference
Sector 68
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 2025Solvency, return and age of the figures
Solvency
6%
Return on assets
1.7%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 4539 sector peers (2025).
NBB · sector comparisonPosition among 4539 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 6 filingsDeviation from the deadline
2025
31 d late
2024
54 d late
2023
98 d late
2022
64 d late
2021
3 d early
2020
1 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€1k
EBIT margin
6673.7%
Net result
€88k▲ 14.8%
2024 · €77k
2020: €57k
2021: €10k
2022: €-11k
2023: €68k
2024: €77k
2020 → 2025
Working capital
€205k▲ 55.2%
2024 · €132k
2020: €4k
2021: €-472k
2022: €95k
2023: €55k
2024: €132k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€1k
Equity€73k-€62k▼ 15.0%€130k▲ 110%€235k▲ 80.6%€320k▲ 35.8%
Operating result€43k-€84k▲ 96.7%€186k▲ 120%€175k▼ 5.9%€194k▲ 11.2%
Net result€10k-€-11k€68k€77k▲ 12.0%€88k▲ 14.8%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.29M
Fixed assets
€4.85M ▼ 4.1%
Current assets
€444k ▲ 8.7%
Equity and liabilities €5.29M
Equity
€320k ▲ 35.8%
Debt
€4.97M ▼ 4.9%
Debt's share of the balance-sheet total falls from 95.7% to 94.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€400k▲
2024 · €380k
Cash flow
€293k▲
2024 · €282k
Current ratio
1.86▲
2024 · 1.48
Debt to equity
15.55▼
2024 · 22.20
ROE
27.5%▼
2024 · 32.5%
ROA
1.7%▲
2024 · 1.4%
Interest coverage
3.98▲
2024 · 3.64
Debt ≤ 1 year
€238k▼
2024 · €276k
Debt > 1 year
€4.73M▼
2024 · €4.95M
Income taxes
€20k▲
2024 · €15k
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 · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.46M€5.29M▼
Fixed assets21/28€5.05M€4.85M▼
Tangible fixed assets22/27€5.05M€4.85M▼
Land and buildings22€4.86M€4.68M▼
Plant, machinery and equipment23€196k€171k▼
Current assets29/58€408k€444k▲
Amounts receivable within one year40/41€315k€326k▲
Other amounts receivable41€315k€326k▲
Cash at bank and in hand54/58€93k€118k▲
Equity and liabilities
Total equity and liabilities10/49€5.46M€5.29M▼
Equity10/15€235k€320k▲
Contributions10/11€6k€6k=
Reserves13€201k€288k▲
Distributable reserves133€201k€288k▲
Investment grants15€29k€25k▼
Amounts payable17/49€5.23M€4.97M▼
Amounts payable after more than one year17€4.95M€4.73M▼
Financial debts170/4€4.95M€4.73M▼
Other loans174€4.95M€4.73M▼
Amounts payable within one year42/48€276k€238k▼
Current portion of amounts payable after more than one year42€212k€217k▲
Trade debts44€43k€103▼
Suppliers440/4€43k€103▼
Taxes, remuneration and social security45€20k€22k▲
Taxes450/3€20k€22k▲
Income statement
Code20242025
Operating income70/76A€452k€467k▲
Other operating income74€452k€467k▲
Operating charges60/66A€278k€273k▼
Services and other goods61€49k€43k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€206k€206k=
Other operating charges640/8€23k€24k▲
Operating profit (loss)9901€175k€194k▲
Financial income75/76B€22k€14k▼
Recurring financial income75€22k€14k▼
Income from current assets751€14k€10k▼
Other financial income752/9€8k€4k▼
Financial charges65/66B€105k€101k▼
Recurring financial charges65€105k€101k▼
Debt charges650€105k€100k▼
Other financial charges652/9€118€178▲
Profit (loss) for the period before taxes9903€92k€108k▲
Income taxes67/77€15k€20k▲
Taxes670/3€15k€20k▲
Profit (loss) for the period9904€77k€88k▲
Profit (loss) for the period to be appropriated9905€77k€88k▲
Appropriation of the result
Profit (loss) to be appropriated9906€77k€88k▲
Transfer to equity691/2€77k€88k▲
To other reserves6921€77k€88k▲
The notes to these accounts (36 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Highest result since 2020net €88k ▲14.8%
Operating result €194k, net result €88k, both a record.
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 54 days late
2024
31-12
Financial
Equity above €200kEq €235k ▲80.6%
2 profitable years in a row build equity to €235k.
06-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 98 days late
2023
31-12
Financial
Back to profitnet €68k
Net result €68k after one loss-making year.
31-12
Financial
Equity above €100kEq €130k ▲110%
Equity rises from €62k to €130k.
03-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 64 days late
2022
31-12
Financial
Weakest financial yearnet €-11k ▼211%
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 55current ratio 2.66
Current ratio from 0.05 to 2.66; short-term debt falls from €496k to €57k.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-07
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
2 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, Maldegem · 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.
Industrielaan 119990 MaldegemGround area
1.9 ha
Building footprint
9,051 m²
Volume, LiDAR
64,541 m³
Parcel 43010C0138/00E000, Flanders · tallest building 14.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ADIFO VASTGOED 2
since 20192.285.843.602
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43010C0138/00E000 | Flanders | 1.9 ha | 1 · 9,051 m² | 14.2 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
2024 to 2025 · 3 entries · 31,471 EUR awarded| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 0 EUR | 0 EUR |
| 2024 | 1 | 31,471 EUR | 0 EUR |
Schemes
Ecologiepremie+
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Of 1,292 companies in sector 68122 we hold annual accounts for 901. 589 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 formPrivate limited company (pre-2019)
Founded13-02-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.