A&D Construct
ActiveSummary
The computed 12-month bankruptcy probability of A&D Construct is 2.3% (moderate). The 2024 annual accounts show equity of €24,265 and a net result of €23,527. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 48% of 36377 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100=
Solvency70▲+42
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 1.67 against 0.93 in 2023; short-term debt: 55.1% and cash: 31% of total assets), but 55.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
44.9%
Return on assets
43.5%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 01-07-2025, 30 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
30 d early
2023
68 d late
2022
48 d late
2021
58 d late
2020
44 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 38 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€24,265▲ 3,187%
2023 · €738
Total assets
€54,094▲ 148%
2023 · €21,830
Net result
€23,527▲ 151%
2023 · €9,377
Working capital
€19,868
2023 · -€1,316
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€8,666--€9,697-€5,984▲ 38.3%€12,472€34,734▲ 179%
Net result€7,687--€10,616-€8,209▲ 22.7%€9,377€23,527▲ 151%
Equity€10,187--€429-€8,639▼ 1,912%€738€24,265▲ 3,187%
Total assets€47,921-€37,581▼ 21.6%€32,806▼ 12.7%€21,830▼ 33.5%€54,094▲ 148%
Debt€37,734-€38,010▲ 0.7%€41,444▲ 9.0%€21,091▼ 49.1%€29,829▲ 41.4%
Working capital€82--€7,351-€12,437▼ 69.2%-€1,316▲ 89.4%€19,868
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 179% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €54,094
Fixed assets
€4,397 ▼ 21.3%
Current assets
€49,697 ▲ 206%
Equity and liabilities €54,094
Equity
€24,265 ▲ 3,187%
Debt
€29,829 ▲ 41.4%
Debt's share of the balance-sheet total falls from 96.6% to 55.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€40,971▲
2023 · €19,491
Cash flow
€29,764▲
2023 · €16,396
Current ratio
1.67▲
2023 · 0.93
Debt to equity
1.23
ROE
97.0%
ROA
43.5%▲
2023 · 43.0%
Interest coverage
19.06▲
2023 · 6.29
Debt ≤ 1 year
€29,829▲
2023 · €17,561
Income taxes
€9,388
Staff costs
€199▼
2023 · €1,328
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,964 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.5%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 26,964 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1,328 | €199 | ▼ 85.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,481 | €9,925 | €9,820 | €7,019 | €6,238 | ▼ 11.1% |
| Other operating charges640/8 | - | €632 | €1,339 | €3,579 | €2,027 | ▼ 43.4% |
| Gross operating margin9900 | €22,853 | €860 | €5,175 | €24,397 | €43,197 | ▲ 77.1% |
| Operating profit (loss)9901 | €8,666 | -€9,697 | -€5,984 | €12,472 | €34,734 | ▲ 179% |
| Financial income75/76B | - | €1 | - | €2 | €331 | ▲ 17,684% |
| Recurring financial income75 | €54 | €1 | - | €2 | €331 | ▲ 17,684% |
| Financial charges65/66B | - | €921 | €2,226 | €3,097 | €2,150 | ▼ 30.6% |
| Recurring financial charges65 | €533 | €921 | €2,226 | €3,097 | €2,150 | ▼ 30.6% |
| Profit (loss) for the period before taxes9903 | €8,187 | -€10,616 | -€8,209 | €9,377 | €32,915 | ▲ 251% |
| Income taxes67/77 | €500 | - | - | - | €9,388 | - |
| Profit (loss) for the period9904 | €7,687 | -€10,616 | -€8,209 | €9,377 | €23,527 | ▲ 151% |
| Profit (loss) for the period to be appropriated9905 | €7,687 | -€10,616 | -€8,209 | €9,377 | €23,527 | ▲ 151% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €47,921 | €37,581 | €32,806 | €21,830 | €54,094 | ▲ 148% |
| Fixed assets21/28 | €34,204 | €24,280 | €14,460 | €5,584 | €4,397 | ▼ 21.3% |
| Tangible fixed assets22/27 | €33,831 | €23,907 | €14,087 | €5,211 | €4,024 | ▼ 22.8% |
| Plant, machinery and equipment23 | - | €902 | €382 | €163 | €2,134 | ▲ 1,212% |
| Furniture and vehicles24 | - | €23,005 | €13,705 | €5,049 | €1,890 | ▼ 62.6% |
| Financial fixed assets28 | €373 | €373 | €373 | €373 | €373 | = |
| Current assets29/58 | €13,716 | €13,301 | €18,346 | €16,245 | €49,697 | ▲ 206% |
| Amounts receivable within one year40/41 | €10,150 | €10,277 | €11,882 | €6,657 | €28,333 | ▲ 326% |
| Trade receivables40 | - | €8,727 | €10,848 | €5,590 | €20,388 | ▲ 265% |
| Other amounts receivable41 | - | €1,550 | €1,034 | €1,067 | €7,946 | ▲ 645% |
| Cash at bank and in hand54/58 | €2,152 | €358 | €850 | €6,052 | €16,772 | ▲ 177% |
| Deferred charges and accrued income490/1 | - | €2,666 | €5,614 | €3,537 | €4,592 | ▲ 29.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €47,921 | €37,581 | €32,806 | €21,830 | €54,094 | ▲ 148% |
| Equity10/15 | €10,187 | -€429 | -€8,639 | €738 | €24,265 | ▲ 3,187% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Outside capital11 | - | €2,500 | - | - | - | - |
| Other1109/19 | - | €2,500 | - | - | - | - |
| Reserves13 | €7,687 | - | - | - | €21,765 | - |
| Distributable reserves133 | - | - | - | - | €21,765 | - |
| Profit (loss) carried forward14 | - | -€2,929 | -€11,139 | -€1,762 | - | - |
| Amounts payable17/49 | €37,734 | €38,010 | €41,444 | €21,091 | €29,829 | ▲ 41.4% |
| Amounts payable after more than one year17 | €24,099 | €17,358 | €10,503 | €3,530 | - | - |
| Financial debts170/4 | - | €17,358 | €10,503 | €3,530 | - | - |
| Amounts payable within one year42/48 | €13,634 | €20,652 | €30,784 | €17,561 | €29,829 | ▲ 69.9% |
| Current portion of amounts payable after more than one year42 | - | €6,741 | €6,856 | €6,972 | €3,530 | ▼ 49.4% |
| Trade debts44 | €6,781 | €1,797 | €2,506 | €2,314 | €16,189 | ▲ 600% |
| Suppliers440/4 | - | €1,797 | €2,506 | €2,314 | €16,189 | ▲ 600% |
| Taxes, remuneration and social security45 | - | €4,100 | €3,600 | - | €10,110 | - |
| Taxes450/3 | - | €500 | - | - | €10,110 | - |
| Remuneration and social security454/9 | - | €3,600 | €3,600 | - | - | - |
| Other amounts payable47/48 | - | €8,014 | €17,822 | €8,275 | - | - |
| Accrued charges and deferred income492/3 | - | - | €158 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,687 | -€10,616 | -€8,209 | €9,377 | €23,527 | ▲ 151% |
| + Depreciation and write-downs630 | €12,481 | €9,925 | €9,820 | €7,019 | €6,238 | ▼ 11.1% |
| Operating cash flow (approximation) | €20,168 | -€692 | €1,611 | €16,396 | €29,764 | ▲ 81.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €1,856 | -€5,050 | ▼ 372% |
| Change in cash | - | -€1,794 | €492 | €5,201 | €10,721 | ▲ 106% |
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
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2020net €23,527 ▲151%
Operating result €34,734, net result €23,527, both a record.
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
31-12
Financial
Back to profitnet €9,377
Net result €9,377 after 2 loss-making years.
17-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 48 days late
2022
27-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 58 days late
2021
31-12
Financial
Weakest financial yearnet -€10,616
Net result drops to -€10,616, the lowest in the series; recovery starts the following year.
13-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 44 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2019
Ground area
88 m²
Building footprint
88 m²
Parcel 44432C0929/00H000, Flanders. Linked by address, not a title deed.
1 establishment unit
A&D Construct
since 20192.294.592.309
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44432C0929/00H000 | Flanders | 88 m² | 1 · 88 m² | - |
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.
Recognitions · licences · registrations
Recognised contractor
5 categoriesA&D Construct BV45927
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Of 22,831 companies in sector 43211 we hold annual accounts for 10,329. 7,618 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
Founded30-09-2019
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43221Plumbing work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0735434105
Also
9925:BE0735434105
Registered
17-07-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.