ACTIVE

ADHORAH

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Financial year 2025 · closed on 29/09/2025
Net result
72,2 k €
+6.0% YoY
Gross margin
150,5 k €
+11.0% YoY
Equity
234 k €
-4.4% YoY

What does ADHORAH do?

ADHORAH is a Private limited company incorporated in 2008. Its main activity is: Management of real estate on a fee or contract basis. Its registered office is in Antwerpen.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0806.490.464
Incorporation
12/09/2008
Legal form
Private limited company
Registered office
Mertens en Torfsstraat 12
2018 Antwerpen · FlandreSee on map
Contributed capital
20 460,00 €
Latest accounts
29/09/2025
Activities (NACE)
68321Management of real estate on a fee or contract basis· main68321Management of real estate on a fee or contract basis68201Rental and operating of own or leased real estate68201Rental and operating of own or leased real estate
Signals
ProfitablePositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 16 financial years

2025202420232022202120202019201720162015201420132012201120092008
Income statement
Gross margin150,5 k €135,6 k €31,8 k €71,9 k €-22,2 k €43,5 k €136,4 k €82,5 k €119,7 k €50,8 k €83 k €72,8 k €57,2 k €129,1 k €3,2 k €-3 k €
EBITDA144,5 k €133,3 k €22,4 k €48,9 k €-61,3 k €42 k €124,9 k €77,4 k €118,9 k €48,3 k €80 k €69,8 k €54,8 k €126,7 k €2,5 k €-3,5 k €
Operating result117,5 k €106,4 k €6 k €35,2 k €-69 k €35,5 k €111,9 k €65,8 k €107,3 k €36,7 k €68,4 k €58,2 k €43,3 k €69,1 k €2,5 k €-3,5 k €
Net result72,2 k €68,1 k €-4,1 k €26,3 k €-72,8 k €21,5 k €75,5 k €32,1 k €93,8 k €31,2 k €62,5 k €43,8 k €31,7 k €56,4 k €2,7 k €-3,5 k €
Balance sheet
Equity234 k €244,9 k €176,7 k €180,9 k €154,5 k €227,3 k €205,8 k €130,3 k €98,3 k €40,5 k €39,3 k €38,8 k €40 k €356,6 k €330,3 k €327,5 k €
Total assets841,1 k €883 k €895,9 k €837,9 k €749,6 k €473,9 k €477,3 k €602,3 k €611,3 k €622,9 k €634,5 k €646,1 k €723,7 k €752,8 k €365,5 k €338,1 k €
Cash––800 €–999 €167 €503 €19 €9 €77 €62 €35 €––85 €78,2 €
Debts597,3 k €628 k €708,7 k €646,2 k €583,9 k €235,4 k €256,4 k €448,1 k €467,8 k €553,3 k €567,8 k €583,3 k €682 k €396,1 k €35,3 k €10,6 k €
Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€
See the valuation
Governance

Board of directors

Seen on filing of 29/09/2025 · 1 active · 1 ended

Active mandates

Gunther Wendrickx

Director

Active

Ended mandates

Gunther Wendrickx

Manager

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year30/09/202430/09/202330/09/202230/09/202130/09/202030/09/2019
Closing of the financial year29/09/202529/09/202429/09/202329/09/202229/09/202129/09/2020
Length of the financial year13 months13 months13 months13 months13 months13 months
Filing date01/01/202613/10/202403/01/202404/01/202305/12/202112/12/2020
General meeting20/12/202513/10/202431/12/202331/12/202221/11/202112/12/2020
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

16 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model29/09/202520/12/202501/01/2026DutchPDF
Abridged model29/09/202413/10/202413/10/2024DutchPDF
Abridged model29/09/202331/12/202303/01/2024DutchPDF
Abridged model29/09/202231/12/202204/01/2023DutchPDF
Abridged model29/09/202121/11/202105/12/2021DutchPDF
Abridged model29/09/202012/12/202012/12/2020DutchPDF
Abridged model29/09/201924/11/201925/11/2019DutchPDF
Abridged model30/09/201721/03/201822/03/2018DutchPDF
Abridged model30/09/201628/02/201731/03/2017DutchPDF
Abridged model30/09/201511/02/201617/02/2016DutchPDF
Abridged model30/09/201411/02/201513/02/2015DutchPDF
Abridged model30/09/201303/03/201427/05/2014DutchPDF
Abridged model30/09/201202/01/201318/01/2013DutchPDF
Abridged model30/09/201101/03/201214/03/2012DutchPDF
Abridged model31/12/200903/01/201009/01/2010DutchPDF
Abridged model31/12/200823/02/200901/05/2009DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 29/09/2025 · 1 active · 1 ended

Active mandates

Gunther Wendrickx

Director

Active

Ended mandates

Gunther Wendrickx

Manager

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Other02/09/2019
    ALGEMENE VERGADERING - BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM
    PDF
  • Other17/10/2018
    BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Capital / shares05/10/2012
    KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Other10/01/2011
    ALGEMENE VERGADERING - BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Other30/09/2008
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 202572,2 k €↑
  2. 2024
    Annual accounts 202468,1 k €↑
  3. 2023
    Annual accounts 2023-4,1 k €↓
  4. 2022
    Annual accounts 202226,3 k €↑
  5. 2021
    Annual accounts 2021-72,8 k €↓
  6. 2020
    Annual accounts 202021,5 k €↓
  7. 2019
    Annual accounts 201975,5 k €↑
  8. 2017
    Annual accounts 201732,1 k €↓
  9. 2016
    Annual accounts 201693,8 k €↑
  10. 2015
    Annual accounts 201531,2 k €↓
  11. 2014
    Annual accounts 201462,5 k €↑
  12. 2013
    Annual accounts 201343,8 k €↑
  13. 2012
    Annual accounts 201231,7 k €↓
  14. 2011
    Annual accounts 201156,4 k €↑
  15. 2009
    Annual accounts 20092,7 k €↑
  16. 2008
    Annual accounts 2008-3,5 k €
  17. 12/09/2008
    IncorporationPrivate limited company