Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 17 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ADEM CONSTRUCT from Lokeren, company number BE0809467968, closed financial year 2025 with a result of € 111,156 after tax. For that financial year ADEM CONSTRUCT recorded a gross margin of € 613,029 and equity of € 708,399. Compared with financial year 2024, the result moved from € 110,703 to € 111,156. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on February 13, 2026.
€ 708,399
▲ 19% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 111,156
Profit after tax over the fiscal year.
€ 121
▼ 99% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 702,199.
People and assets in 2025
€ 63,672
▼ 64% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 6.9 million
▲ 86% vs 2024
€ 821,916 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 48,577
▲ € 39,433 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 15,250
▼ 53% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 256,195 | € 370,198 | € 518,432 | € 613,029 | ▲ 18% |
| Profit after taxes | € 5,821 | € 21,350 | € 110,703 | € 111,156 | |
| Equity | € 465,190 | € 486,541 | € 597,243 | € 708,399 | ▲ 19% |
| Total debts | € 1,634,096 | € 3,174,326 | € 3,801,978 | € 7,016,479 | ▲ 85% |
| Cash | € 18,351 | € 10,968 | € 14,317 | € 121 | ▼ 99% |
| Land & buildings | € 1,517,883 | € 3,334,793 | € 3,958,073 | € 7,388,395 | ▲ 87% |
| Retained profit | € 458,990 | € 480,341 | € 591,043 | € 702,199 | ▲ 19% |
| Bank debt | € 1,451,223 | € 3,025,095 | € 3,726,460 | € 6,927,060 | ▲ 86% |
| Balance sheet total | € 2,102,924 | € 3,660,867 | € 4,399,221 | € 7,724,879 | ▲ 76% |
Key figures of ADEM CONSTRUCT, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to ADEM CONSTRUCT?
What happened at ADEM CONSTRUCT in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 111,156. filed late Source: NBB ↗
- New establishment in Lokeren. KBO
- Start of the company according to the CBE. KBO
In short
From € 5,821 profit in 2022 to € 111,156 profit in 2025.
Paid € 127,641 in corporate taxes since 2022.
Best year ever: 2025, with € 111,156 profit.
Management
Behind ADEM CONSTRUCT are Gokhan Mergen, Hakan Mergen and Ibrahim Mergen. The same people are also behind IGM and IBO Construct.
Directors
According to the 2025 annual accounts
Establishments
Establishment units
Physical locations of this company
Waterstraat 2
9160 Lokeren
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0809.467.968
- VAT number
- BE 0809.467.968
- Registered office
- Waterstraat 2, 9160 Lokeren
- Names & denominations
- ADEM CONSTRUCT
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 January 2009
- Peppol
- Active · Active since 2 Sept 2023
- Activities · NACE
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