A&D
ActiveSummary
A&D has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €391,354 and a net result of -€45,833. Equity is growing by ~21.5% per year across the filed fiscal years. Its solvency ranks better than 34% of 7586 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability15▼-84
Solvency54▼-19
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity ample (current ratio 4.93 against 7.58 in 2024; short-term debt: 20.3% and cash: 0.7% of total assets), but 71.4% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-06-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
6 d late
2023
29 d early
2022
38 d early
2021
59 d early
2020
19 d late
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 20 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 26 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€391,354▼ 10.5%
2024 · €437,187
Total assets
€1.4m▲ 48.7%
2024 · €919,998
Net result
-€45,833
2024 · €221,347
Working capital
€1.1m▲ 66.2%
2024 · €656,306
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€119,613-€21,562€115,180€333,280▲ 189%-€24,679
Net result€92,562above the sector's middle half-€28,759below the sector's middle half€69,524above the sector's middle half€221,347above the sector's middle half▲ 218%-€45,833below the sector's middle half
Equity€225,076above the sector's middle half▲ 69.9%€196,317above the sector's middle half▼ 12.8%€265,841above the sector's middle half▲ 35.4%€437,187above the sector's middle half▲ 64.5%€391,354above the sector's middle half▼ 10.5%
Total assets€447,850above the sector's middle half▲ 7.2%€626,541above the sector's middle half▲ 39.9%€968,106above the sector's middle half▲ 54.5%€919,998above the sector's middle half▼ 5.0%€1.4mabove the sector's middle half▲ 48.7%
Debt€222,774▼ 21.9%€430,224▲ 93.1%€702,265▲ 63.2%€482,810▼ 31.2%€976,376▲ 102%
Working capital€373,248above the sector's middle half▲ 0.8%€554,365above the sector's middle half▲ 48.5%€870,276above the sector's middle half▲ 57.0%€656,306above the sector's middle half▼ 24.6%€1.1mabove the sector's middle half▲ 66.2%
Solvency50.3%within the sector's middle half▲ 18.5pp31.3%within the sector's middle half▼ 18.9pp27.5%within the sector's middle half▼ 3.9pp47.5%within the sector's middle half▲ 20.1pp28.6%within the sector's middle half▼ 18.9pp
Current ratio20.06above the sector's middle half▲ 5.0325.75above the sector's middle half▲ 5.6917.34above the sector's middle half▼ 8.417.58above the sector's middle half▼ 9.764.93above the sector's middle half▼ 2.65
Return on assets (ROA)20.7%above the sector's middle half▲ 26.1pp-4.6%below the sector's middle half▼ 25.3pp7.2%within the sector's middle half▲ 11.8pp24.1%above the sector's middle half▲ 16.9pp-3.4%below the sector's middle half▼ 27.4pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €24,679 after €333,280 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €1.4m
Equity
€391,354 ▼ 10.5%
Debt
€976,376 ▲ 102%
Debt's share of the balance-sheet total rises from 52.5% to 71.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€24,679▼
2024 · €368,027
Cash flow
-€45,833▼
2024 · €256,094
Quick ratio
1.58▼
2024 · 2.58
Debt to equity
2.49▲
2024 · 1.10
ROE
-11.7%▼
2024 · 50.6%
Interest coverage
-1.09▼
2024 · 9.69
Debt ≤ 1 year
€277,234▲
2024 · €99,719
Debt > 1 year
€697,792▲
2024 · €381,741
Income taxes
€338▼
2024 · €74,961
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,422 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
0.8%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,422 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €203,077 | €68,722 | €211,343 | €558,172 | €186,094 | ▼ 66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,717 | €9,556 | €10,422 | €34,748 | €0 | ▼ 100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €100 | €0 | - | - | - | - |
| Other operating charges640/8 | €2,788 | €1,944 | €2,058 | €3,001 | €56,096 | ▲ 1,769% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | €128,218 | -€10,062 | €127,660 | €371,029 | €31,417 | ▼ 91.5% |
| Operating profit (loss)9901 | €119,613 | -€21,562 | €115,180 | €333,280 | -€24,679 | ▼ 107% |
| Financial income75/76B | €173 | €257 | €339 | €1,008 | €1,927 | ▲ 91.3% |
| Recurring financial income75 | €173 | €257 | €339 | €1,008 | €1,927 | ▲ 91.3% |
| Financial charges65/66B | €6,875 | €6,566 | €23,879 | €37,980 | €22,743 | ▼ 40.1% |
| Recurring financial charges65 | €6,875 | €6,566 | €23,879 | €37,980 | €22,743 | ▼ 40.1% |
| Profit (loss) for the period before taxes9903 | €112,912 | -€27,871 | €91,641 | €296,308 | -€45,495 | ▼ 115% |
| Income taxes67/77 | €20,349 | €888 | €22,117 | €74,961 | €338 | ▼ 99.5% |
| Profit (loss) for the period9904 | €92,562 | -€28,759 | €69,524 | €221,347 | -€45,833 | ▼ 121% |
| Profit (loss) for the period to be appropriated9905 | €92,562 | -€28,759 | €69,524 | €221,347 | -€45,833 | ▼ 121% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €447,850 | €626,541 | €968,106 | €919,998 | €1.4m | ▲ 48.7% |
| Fixed assets21/28 | €55,019 | €49,779 | €44,586 | €163,973 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €55,019 | €49,779 | €44,586 | €163,973 | €0 | ▼ 100% |
| Land and buildings22 | €39,532 | €35,371 | €31,290 | €27,210 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €1,163 | €3,720 | €6,837 | €7,776 | €0 | ▼ 100% |
| Furniture and vehicles24 | €14,324 | €10,689 | €6,458 | €128,987 | €0 | ▼ 100% |
| Current assets29/58 | €392,831 | €576,761 | €923,521 | €756,025 | €1.4m | ▲ 80.9% |
| Stocks and contracts in progress3 | €252,073 | €503,566 | €839,824 | €499,070 | €929,942 | ▲ 86.3% |
| Stocks30/36 | €252,073 | €503,566 | €839,824 | €499,070 | €929,942 | ▲ 86.3% |
| Amounts receivable within one year40/41 | €14,496 | €17,188 | €40,207 | €27,358 | €236,138 | ▲ 763% |
| Trade receivables40 | €5,218 | €11,774 | €25,299 | €7,503 | €191,337 | ▲ 2,450% |
| Other amounts receivable41 | €9,278 | €5,414 | €14,907 | €19,856 | €44,801 | ▲ 126% |
| Cash at bank and in hand54/58 | €123,799 | €53,345 | €42,694 | €225,080 | €9,824 | ▼ 95.6% |
| Deferred charges and accrued income490/1 | €2,463 | €2,661 | €796 | €4,516 | €191,825 | ▲ 4,148% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €447,850 | €626,541 | €968,106 | €919,998 | €1.4m | ▲ 48.7% |
| Equity10/15 | €225,076 | €196,317 | €265,841 | €437,187 | €391,354 | ▼ 10.5% |
| Contributions10/11 | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €53,209 | €53,209 | €247,291 | €297,291 | €297,291 | = |
| Non-distributable reserves130/1 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | €51,354 | €51,354 | €245,436 | €295,436 | €295,436 | = |
| Profit (loss) carried forward14 | €153,317 | €124,557 | €0 | €121,347 | €75,513 | ▼ 37.8% |
| Amounts payable17/49 | €222,774 | €430,224 | €702,265 | €482,810 | €976,376 | ▲ 102% |
| Amounts payable after more than one year17 | €200,656 | €406,478 | €647,671 | €381,741 | €697,792 | ▲ 82.8% |
| Financial debts170/4 | €200,656 | €406,478 | €647,671 | €381,741 | €697,792 | ▲ 82.8% |
| Amounts payable within one year42/48 | €19,583 | €22,396 | €53,245 | €99,719 | €277,234 | ▲ 178% |
| Current portion of amounts payable after more than one year42 | €3,949 | €3,978 | €4,007 | €15,893 | €15,822 | ▼ 0.4% |
| Financial debts43 | - | €1,676 | €20,000 | €58,333 | €0 | ▼ 100% |
| Credit institutions430/8 | - | €1,676 | €20,000 | €58,333 | €0 | ▼ 100% |
| Trade debts44 | €10,883 | €10,509 | €23,042 | €21,489 | €27,634 | ▲ 28.6% |
| Suppliers440/4 | €10,883 | €10,509 | €23,042 | €21,489 | €27,634 | ▲ 28.6% |
| Taxes, remuneration and social security45 | €4,733 | €2,223 | €3,208 | €4,003 | €233,778 | ▲ 5,740% |
| Taxes450/3 | €1,933 | €2,223 | €3,208 | €4,003 | €233,778 | ▲ 5,740% |
| Remuneration and social security454/9 | €2,800 | €0 | - | - | - | - |
| Other amounts payable47/48 | €18 | €4,010 | €2,986 | €0 | - | - |
| Accrued charges and deferred income492/3 | €2,535 | €1,350 | €1,350 | €1,350 | €1,350 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €92,562 | -€28,759 | €69,524 | €221,347 | -€45,833 | ▼ 121% |
| + Depreciation and write-downs630 | €5,717 | €9,556 | €10,422 | €34,748 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €98,279 | -€19,204 | €79,946 | €256,094 | -€45,833 | ▼ 118% |
| Investment in fixed assets (approximation) | - | -€4,316 | -€5,228 | -€154,135 | €163,973 | ▲ 206% |
| Change in cash | - | -€70,453 | -€10,651 | €182,386 | -€215,256 | ▼ 218% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€45,833
Net result drops to -€45,833, the lowest in the series.
06-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 6 days late
2024
31-12
Financial
Highest result since 2018net €221,347 ▲218%
Operating result €333,280, net result €221,347, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €69,524
Net result €69,524 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €265,841 ▲35.4%
Equity rises from €196,317 to €265,841.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €92,562
Net result €92,562 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €225,076 ▲69.9%
Equity rises from €132,514 to €225,076.
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 19 days late
Show earlier events
2020
31-12
Financial
Liquidity doublescurrent ratio 15.03
Current ratio from 6.04 to 15.03; short-term debt falls from €30,354 to €26,386.
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Equity above €150,000Eq €155,026 ▲48.8%
2 profitable years in a row build equity to €155,026.
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Genk · 1 establishment unit since 2011
Ground area
2,211 m²
Building footprint
208 m²
Volume, LiDAR
873 m³
Parcel 71304E0089/00H000, Flanders · tallest building 6.5 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
A&D
since 20112.203.700.834
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71304E0089/00H000 | Flanders | 2,211 m² | 1 · 208 m² | 6.5 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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HDD INVEST
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DELBEKE Patrick
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,056. 10,155 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-10-2011
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
47554Retail trade
41003General construction of other non-residential buildings
43120Site preparation
43230Insulation installation
43422Screed work
68110Buying and selling of own real estate
81210General cleaning of buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0840438682
Also
9925:BE0840438682
Registered
16-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.