Equity
€52,976 from €115,995 in 2011
Equity fell by 54% in 14 years.
AD PROJEKT
Lifetime
20 annual accounts with figures on one time axis, 27 filings since 1999peak €209,036 (2023)
€62,449▲ €123,415
lowest -€73,722 (2024)
€59,280▲ €133,002
peak €115,995 (2011)
€52,976▲ €59,280
€80,067▼ 43.5%
peak 2.2 FTE (2017)
-not published
Board2 names since 2021
1 directorAnn Dierickx
Documentsfilings and deeds
30-09-202661 days late
2025micro format
Gross margin from -€60,967 to €62,449Back to profit: €59,280Registered office moved within Aalst 27-10Equity from -€6,305 to €52,976Debts from €141,765 to €80,067Cash from €42,161 to €75,742
Key points
from the 2025 annual accountsResult
€59,280 €59,280
Back in profit in 2025, after a loss of €73,722 in 2024.
Turnover
≈ €130,000 estimated
The micro format states no turnover.
Liquidity
1.94 was 0.97 in 2024
Short-term debts fell from €112,202 to €68,353.
Filings
27 annual accounts 61 days
Latest accounts filed late: after the legal deadline.
Position in the sector
€59,280
Higher net result than 84% of companies in real estate. Sector median €5,997 · 17,176 companies.
Checked score
88
Excellent
Financially stronger than 83% of micro companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,625 companies (NACE 68, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025lowest value
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025
08-2025: 1.1%▲ +0.9 percentage points vs 07-2025
09-2025: 1.1%● unchanged vs 08-2025
10-2025: 1.1%● unchanged vs 09-2025
11-2025: 2.1%▲ +1.0 percentage point vs 10-2025highest value
12-2025: 2.1%● unchanged vs 11-2025highest value
01-2026: 2.1%● unchanged vs 12-2025
02-2026: 2.1%● unchanged vs 01-2026
03-2026: 2.1%● unchanged vs 02-2026
04-2026: 2.0%▼ -0.1 percentage points vs 03-2026
05-2026: 1.9%▼ -0.1 percentage points vs 04-2026
06-2026: 1.9%● unchanged vs 05-2026
07-2026: 0.4%▼ -1.5 percentage points vs 06-2026
08-2026: 0.4%● unchanged vs 07-2026
09-2026: 0.4%● unchanged vs 08-2026
10-2026: 0.4%● unchanged vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
Last filed accounts filed 61 days late; 1 of the last 3 accounts late
lowers risk
Liquidity: current ratio 1.94, cash €75,742
Sector: Real estate activities (NACE 68)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 57% of them on solvency, 83% on liquidity, 95% on profitability and 99% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as AD PROJEKT has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AD PROJEKT itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for AD PROJEKT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €4,500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.94 (0.97 in 2024), above the usual 1.5. Short-term debt is 51.4% and cash 56.9% of total assets. However, 60.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
61 days late
2024
31 days early
2023
29 days late
2022
31 days late
2021
30 days late
2020
17 days late
2019
2 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 19 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 August (4 of the last 5 accounts filed within 31 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered office moved within Aalst
New registered office: Bredestraat 375, 9300 Aalst · Previous registered office: Louis D'Haeseleerstraat 3 te 9300 Aalst · General meeting of 19-09-2025 · Gazette deed
Change of role: DIERICKX Ann Maria Paul Leon, from manager to director
“Het kopen en verkopen al dan niet gerenoveerde onroerende goederen; Makelarij in onroerende goederen…” (deed in Dutch) · DIERICKX Ann Maria Paul Leon holds 1,000 shares · DIERICKX Ann Maria Paul Leon holds all the shares · General meeting of 07-11-2023 · Gazette deed
Resignation: Olivier Stockmans (director)
Director discharge: Olivier Stockmans · Ann Dierickx holds all the shares · General meeting of 23-06-2023 · Gazette deed
First establishment
Bredestraat 375, Aalst
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| AD PROJEKT Aalst | €133,043 | €62,449 | 39.8% | - |
| DE GROOTE & PARTNERS Merelbeke-Melle | €166,354 | €53,278 | 73.1% | - |
| ORPHA Evergem | €187,645 | €44,089 | 58.5% | - |
| MELGO Stekene | €183,174 | €81,572 | 91.7% | - |
| KACHIMMO Mons | €133,818 | €44,039 | 22.4% | - |
| Bureau d'Expertises Immobilières VANCAUWENBERGHE Bernissart | €186,228 | €59,509 | 96.4% | - |
| LANDMETERS & EXPERTISEKANTOOR JOS KONINGS Kalmthout | €171,841 | €50,128 | 98.1% | - |
These companies have the same main activity as AD PROJEKT: real estate appraisal on a fee or contract basis (NACE 68322). They are comparable in size and age: total assets between €134,000 and €188,000, founded between 1986 and 2007.
Official details
Source: KBO- Status
- Active since 01-07-1998Normal situation
- Activity
- Real estate appraisal on a fee or contract basisNACE 68322and 3 others
- Establishment unit
- 2.087.764.1579300 Aalst, since 23-07-1998
- Financial year end
- 31 December
- Peppol
- Reachable
Insights on AD PROJEKT
AD PROJEKT files the micro format. That format states no turnover. The gross margin rose from €40,414 in 2006 to €62,449 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about AD PROJEKT
- What is the company number of AD PROJEKT?
- The company number of AD PROJEKT is 0463.698.503. The VAT number is the same number with BE in front: BE 0463.698.503.
- Where is AD PROJEKT based?
- The registered office is at Bredestraat 375, 9300 Aalst.Company details
- What does AD PROJEKT do?
- According to the KBO register, the main activity is real estate appraisal on a fee or contract basis (NACE 68322).
- What is the legal form of AD PROJEKT?
- AD PROJEKT is a private limited company (BV).
- When was AD PROJEKT founded?
- AD PROJEKT was founded on 01-07-1998.
- Is AD PROJEKT still active?
- Yes, AD PROJEKT is an active enterprise in the KBO register.
- How many employees does AD PROJEKT have?
- AD PROJEKT had an average of 1.4 full-time equivalents in financial year 2023, according to the filed annual accounts.Financials
- What is the turnover of AD PROJEKT?
- The turnover in financial year 2025 is ≈ €130,000. This figure is estimated from the gross margin of €62,449 and 32 comparable companies (NACE 683). It probably lies between €85,000 and €180,000.
- Is AD PROJEKT profitable?
- In financial year 2025, AD PROJEKT made a profit of €59,280.
- Where can I find the annual accounts of AD PROJEKT?
- AD PROJEKT filed 27 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of AD PROJEKT due?
- AD PROJEKT must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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