Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of ADSCALE TECHNOLOGIES is 0.9% (low). The 2025 annual accounts show equity of €73k and a net result of €83k. Its solvency ranks better than 34% of 92 sector peers (fiscal year 2025). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 2 annual accounts.
Trust signals
2 signalsMore than 3 years active
Founded in 2023, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No administrative flags
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone0.9%
Low
0%0,5%1,5%4%10%≥25%
Lower-failure-rate sector
−Young company
+Higher-failure-rate region
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€83k
Working capital€44k
Annual accounts & ratios
Source: NBB · 2025Annual accounts filed on 28-01-2026 with the NBB · fiscal year 2025 · volledig
Sector comparison
Fiscal year 2025 · NACE 62, Computer programming & consultancy · compared within the same schema type (full schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 15.1% | 46.9% | |
| Net result | €83k | €44k | |
| Equity | €73k | €91k | |
| Gross operating margin | €792k | €74k | |
| Staff costs | €655k | €303k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
€136k
-
far above sector median
€83k
-
far above sector median
€92k
-
+288% vs sector
€484k
+246.4%
+17% vs sector
€73k
-
-66% vs sector
€44k
-
-38% vs sector
13
+958.3%
far above sector median
€655k
+1090.8%
far above sector median
€34k
+125506.5%
+147% vs sector
€411k
+175.0%
+127% vs sector
€411k
+175.0%
+172% vs sector
1.11
+37.5%
-31% vs sector
1.11
+37.5%
-28% vs sector
15.1%
-
-73% vs sector
5.62
-
far above sector median
113.3%
+2.7%
far above sector median
17.1%
-
far above sector median
13.60
-
-41% vs sector
Figures by fiscal year
| Fiscal year | 2025 |
|---|---|
| Revenue | - |
| EBITDA | €136k |
| Net profit | €83k |
| Cash flow | €92k |
| Staff costs | €655k |
| Income taxes | €34k |
| Dividends | - |
| Total assets | €484k |
| Equity | €73k |
| Debt | €411k |
| of which ≤ 1y | €411k |
| of which > 1y | - |
| Working capital | €44k |
| Employees (FTE) | 12.7 |
Ratios (computed)
| 2025 | |
|---|---|
| Current ratio | 1.11 |
| Quick ratio | 1.11 |
| Working capital ratio | 9.1% |
| Solvency | 15.1% |
| Debt / equity | 5.62 |
| Long-term debt ratio | - |
| Interest coverage | 13.60 |
| Gross margin | - |
| Net margin | - |
| ROA | 17.1% |
| ROE | 113.3% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2025
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €484k |
| Fixed assets | 21/28 | €29k |
| Intangible fixed assets | 21 | €5k |
| Tangible fixed assets | 22/27 | €23k |
| Financial fixed assets | 28 | €1k |
| Current assets | 29/58 | €454k |
| Amounts receivable within one year | 40/41 | €263k |
| Cash & bank | 54/58 | €175k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €484k |
| Equity | 10/15 | €73k |
| Contributions / capital | 10/11 | €1k |
| Accumulated profits (losses) | 14 | €72k |
| Amounts payable | 17/49 | €411k |
| Amounts payable within one year | 42/48 | €411k |
| Trade debts payable within one year | 44 | €217k |
| Income statement | ||
| Gross operating margin | 9900 | €792k |
| Operating result | 9901 | €127k |
| Financial income | 75 | €0 |
| Financial charges | 65 | €10k |
| Result before taxes | 9903 | €117k |
| Income taxes | 67/77 | €34k |
| Net result for the period | 9904 | €83k |
| Result to be appropriated | 9905 | €83k |
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Ratios computed by Checked.
Health barometer
FY 2025 · computed76
/ 100
Excellent
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from NBB filings and Belgian State Gazette signals. Indicative, not credit advice.
Directors
Directors & mandates
5 directorsCurrent directors & mandates
-
ATHENA Ventures SRLLegal entityDirector· perm. rep.: Olivier PENATState Gazette act 26010718 (22-01-2026)Current14-10-2025 → present
-
ERAWAN ConseilsLegal entityDirector· perm. rep.: Olivier PénatState Gazette act 25066068 (23-05-2025)Current02-04-2025 → present
-
Current02-04-2025 → present
Former directors (2)
-
Former29-05-2024 → 02-04-2025
2 events
- 02-04-2025 Resigned· Director
- 29-05-2024 Appointed· Director
-
Former- → 29-05-2024
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Ontwerpen van computerprogramma’s(62100) |
| Legal form | Private limited company(610) |
| Incorporation | 26-06-2023 |
| Status | Active |
| Postal code | 1180 |
Structure & network
Connections & network
3 connected companiesGroup structure
Parent · 2 subsidiaries · 1 location
Control→
Parent · 2 subsidiaries · 1 location
Control→
Network connections
Shared corporate director
→
Connections derived from shared directors, addresses, shareholders and group structure in the Belgian State Gazette.
Locations & real estate
Establishment units
1 locationVorstlaan 25, 1170 Watermaal-Bosvoorde
since 20232.349.506.878
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area8.3 ha
Buildings2
Building footprint1.3 ha
Volume (LiDAR)185,193 m³
Tallest building51.1 m · ±3 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels 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.
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0905/00H000 | Brussels | 8.3 ha | 1 · 1.3 ha | 51.0 m · 3 fl. |
| 21616G0030/00T016 | Brussels | 342 m² | 1 · 99 m² | 13.8 m · 3 fl. |
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
4 acts All acts · 4
updated 6 months ago
2026
22-01-2026 Olivier PENAT reappointed as director
2025
23-05-2025 3 directors appointed, 1 resigning
- ATHENA VENTURES SRL, Bestuurder
- Olivier Pénat, Bestuurder
- Guillaume Ghyselen, Bestuurder
- Olivier Pénat, Bestuurder
Summary:
v3.2
2024
17-06-2024 1 director appointed, 1 resigning
2023
28-06-2023 Incorporation of a new SRL
Summary:
oprichting
Analysis
Snowflake analysis
financial profile on 5 axes74
/ 100
Strong profile, led by profitability.
Health
76
Profitability
100
Solvency
23
Growth
78
Stability
94
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Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Ontwerpen en programmeren van computerprogramma's62010Computerconsultancy-activiteiten62020Ontwerpen van computerprogramma’s62100Activiteiten op het gebied van computerconsultancy en beheer van computerfaciliteiten62200Beheer van computerfaciliteiten62030Overige diensten op het gebied van informatietechnologie en computer62090Activiteiten op het gebied van computerconsultancy en beheer van computerfaciliteiten62200Overige diensten op het gebied van informatietechnologie en computer62900Computerinfrastructuur, gegevensverwerking, hosting en aanverwante activiteiten63100Gegevensverwerking, webhosting en aanverwante activiteiten63110Webportalen63120Activiteiten van webportalen63910
Primary activity highlighted.
Names & trade names
| Legal nameFR | ADSCALE TECHNOLOGIES |
Registered office
Kersbeeklaan 308
1180 Ukkel, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.