Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 46 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
56 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ADGAR INVESTMENT AND DEVELOPMENT POLAND from Antwerpen, company number BE0467112210, closed financial year 2025 with a result of € -3 million after tax. Compared with financial year 2024, the result moved from € -3.2 million to € -3 million. The company made a loss. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 7, 2026.
€ 9.6 million
▼ 24% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -3 million
▲ 8 % less loss than in 2024
Profit after tax over the fiscal year.
€ 16,377
▲ 48% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -5.2 million.
People and assets in 2025
0.4
Average over the fiscal year, from the social balance sheet.
€ 49,442
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 5,300
▼ 42% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 62 days on average.
€ 5,476
▼ 16% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € 248,742 | € 125,124 | € -3,230,777 | € -2,970,063 | ▲ € 260,714 |
| Equity | € 15,661,646 | € 15,786,770 | € 12,555,993 | € 9,585,930 | ▼ 24% |
| Total debts | € 109,143,376 | € 97,262,156 | € 79,791,798 | € 81,258,228 | ▲ 2% |
| Cash | € 34,399 | € 11,075 | € 11,098 | € 16,377 | ▲ 48% |
| Retained profit | € 848,309 | € 973,433 | € -2,257,344 | € -5,227,407 | ▼ € 3 million |
| Balance sheet total | € 124,805,022 | € 113,048,926 | € 92,347,791 | € 90,844,158 | ▼ 2% |
| Employees (FTE) | 0.4 | 0.4 | 0.4 | 0.4 |
Key figures of ADGAR INVESTMENT AND DEVELOPMENT POLAND, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ADGAR INVESTMENT AND DEVELOPMENT POLAND?
What happened at ADGAR INVESTMENT AND DEVELOPMENT POLAND in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Roy Gadish stepped down as director. NBB
- Adgar Investment and Development Belgium NV stepped down as director. NBB
- Pro Rato BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 3 million. Source: NBB ↗
- Adgar Investment and Development Belgium NV became a director. NBB
- Pro Rato BV became a director. NBB
- Roy Gadish became a director. NBB
- New establishment in Antwerpen. KBO
In short
From € 248,742 profit in 2022 to € 3 million loss in 2025.
Paid € 145,915 in corporate taxes since 2022.
Best year ever: 2022, with € 248,742 profit.
Pays suppliers within 62 days on average.
A new publication or filing at ADGAR INVESTMENT AND DEVELOPMENT POLAND? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of ADGAR INVESTMENT AND DEVELOPMENT BELGIUM comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ADGAR INVESTMENT AND DEVELOPMENT POLANDThe shares are held by ADGAR INVESTMENT AND DEVELOPMENT BELGIUM (80.1%). It owns 100% of Adgar BC IV Sp. z. o.o, 100% of Adgar BC IX, 100% of Adgar Postepu sp zoo, 99% of Real Estate Solutions and 50% of Adgar Poland itself.
Directors
According to the 2025 annual accounts
Roy Gadish
Director
Also active at: ADGAR INVESTMENT AND DEVELOPMENT BELGIUM, Adgar Plantin, ADGAR PLANTIN PARKING, Brain Embassy Belgium
since 2022 · until 2029
Adgar Investment and Development Belgium NV
Director · represented by Liat Manor
Also active at: Adgar Plantin, ADGAR PLANTIN PARKING, Brain Embassy Belgium
since 2023 · until 2028
Director · represented by Dirk Engelen
Also active at: ADGAR INVESTMENT AND DEVELOPMENT BELGIUM, Adgar Plantin, ADGAR PLANTIN PARKING
since 2023 · until 2028
Shareholders
Participations
Adgar BC IV Sp. z. o.o
100%
Adgar BC IX
100%
Adgar Postepu sp zoo
100%
Real Estate Solutions
99%
Adgar Poland
50%
Establishments
Establishment units
Physical locations of this company
Molenbergstraat 10
2000 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 56 companies are registered at this address.
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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0467.112.210
- VAT number
- BE 0467.112.210
- Registered office
- Molenbergstraat 10, 2000 Antwerpen
- Names & denominations
- ADGAR INVESTMENT AND DEVELOPMENT POLAND
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 20 October 1999
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Activiteiten van holdings
Holdings