A & D II

Active

Public limited companyfounded 198937 yrs activeMediaplein 1, 2018 Antwerpen, BelgiumKBO/BCE: BE 0436.801.391

Summary

A & D II has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €97k and a net result of €73k. Equity is shrinking by ~17.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 57% of 9623 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2024

81 / 100

Excellent

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100▲+28

Solvency69▼-31

Growth58▲+26

Track record100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €7k at 30 days acceptable

Liquidity tight (current ratio 1.17 against 4.67 in 2023; short-term debt: 50.5% and cash: 36.4% of total assets), and 55.7% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 47

Relative position

BE, all sectors

reference

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-06-2025, 50 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

50 d early

2023

57 d early

2022

55 d early

2021

38 d early

2020

45 d early

2019

53 d early

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€97k▼ 14.7%

2023 · €114k

2018: €575k 2019: €540k 2020: €506k 2021: €510k 2022: €260k 2023: €114k

2018 → 2024

Total assets

€220k▲ 47.4%

2023 · €149k

2018: €771k 2019: €747k 2020: €642k 2021: €546k 2022: €284k 2023: €149k

2018 → 2024

Net result

€73k▲ 1,570%

2023 · €4k

2018: €63k 2019: €16k 2020: €16k 2021: €1.28M 2022: €35k 2023: €4k

2018 → 2024

Working capital

€19k▼ 58.4%

2023 · €47k

2018: €273k 2019: €221k 2020: €-14k 2021: €431k 2022: €167k 2023: €47k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€506k-€510k▲ 0.7%€260k▼ 49.0%€114k▼ 56.1%€97k▼ 14.7%

Operating result€23k-€1.73M▲ 7,442%€50k▼ 97.1%€8k▼ 84.6%€100k▲ 1,209%

Net result€16k-€1.28M▲ 7,975%€35k▼ 97.2%€4k▼ 87.6%€73k▲ 1,570%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result recovers in 2024; 2024 is 1,209% above 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €220k

40.6%

59.4%

Fixed assets €89k ▼ 0.5%

Current assets €130k ▲ 120%

Equity and liabilities €220k

44.3%

55.7%

Equity €97k ▼ 14.7%

Debt €122k ▲ 250%

Debt's share of the balance-sheet total rises from 23.5% to 55.7%. Equity is lower and debt is higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€100k▲

2023 · €10k

Cash flow

€74k▲

2023 · €7k

Current ratio

1.17▼

2023 · 4.67

Debt to equity

1.26▲

2023 · 0.31

ROE

75.2%▲

2023 · 3.8%

ROA

33.3%▲

2023 · 2.9%

Interest coverage

377.69▲

2023 · 77.24

Debt ≤ 1 year

€111k▲

2023 · €13k

Income taxes

€27k▲

2023 · €4k

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Filed annual accounts As filed with the NBB · 2024 against 2023 · 54 lines

Balance sheet Code20232024

Assets

Total assets20/58€149k€220k▲

Fixed assets21/28€90k€89k▼

Tangible fixed assets22/27€90k€89k▼

Land and buildings22€89k€89k=

Plant, machinery and equipment23€526€68▼

Furniture and vehicles24€0-

Current assets29/58€59k€130k▲

Amounts receivable within one year40/41€9k€6k▼

Trade receivables40€4k€3k▼

Other amounts receivable41€5k€3k▼

Current investments50/53€831€41k▲

Cash at bank and in hand54/58€45k€80k▲

Deferred charges and accrued income490/1€5k€3k▼

Equity and liabilities

Total equity and liabilities10/49€149k€220k▲

Equity10/15€114k€97k▼

Contributions10/11€62k€62k=

Capital10€62k€62k=

Issued capital100€62k€62k=

Reserves13€52k€35k▼

Non-distributable reserves130/1€35k€35k=

Legal reserve130€35k€35k=

Distributable reserves133€17k€622▼

Profit (loss) carried forward14€0€0=

Amounts payable17/49€35k€122k▲

Amounts payable within one year42/48€13k€111k▲

Financial debts43€2k€344▼

Credit institutions430/8€2k€344▼

Trade debts44€5k€18k▲

Suppliers440/4€5k€18k▲

Taxes, remuneration and social security45€5k€3k▼

Taxes450/3€5k€3k▼

Other amounts payable47/48€647€90k▲

Accrued charges and deferred income492/3€22k€11k▼

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€458▼

Other operating charges640/8€21k€16k▼

Non-recurring operating charges66A-€600

Gross operating margin9900€31k€117k▲

Operating profit (loss)9901€8k€100k▲

Financial income75/76B€1k€82▼

Recurring financial income75€1k€82▼

Financial charges65/66B€135€266▲

Recurring financial charges65€135€266▲

Profit (loss) for the period before taxes9903€9k€100k▲

Income taxes67/77€4k€27k▲

Profit (loss) for the period9904€4k€73k▲

Profit (loss) for the period to be appropriated9905€4k€73k▲

Appropriation of the result

Profit (loss) to be appropriated9906€4k€73k▲

Profit (loss) brought forward from the previous period14P€0-

Transfer from equity791/2€150k€17k▼

Transfer to equity691/2€4k€0▼

To other reserves6921€4k€0▼

Profit to be distributed694/7€150k€90k▼

Return on contributions (dividend)694€150k€90k▼

Social balance

Average headcount (FTE)9087-0.0

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 14Financial 3Gazette 1Filings 10

2026

23-03

State Gazette act Resignation: Gert Verhees (director)

Appointment: REDET NV (sole director) · Permanent representative: Jo Gielen · Director discharge10 facts ▸

General meeting, 25/02/2026
Board meeting, 25/02/2026
Director resignation, Gert Verhees (director)
Director discharge, Gert Verhees (director)
Director appointment, REDET NV (sole director)
Permanent representative, Jo Gielen
Mandate compensation, REDET NV
Director resignation, Gert Verhees (managing director)
Director discharge, Gert Verhees (managing director)
Registered-office move, Mediaplein 1, 2018 Antwerpen

2025

11-06

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

04-06

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-12

Financial Weakest financial yearnet €4k ▼87.6%

Net result drops to €4k, the lowest in the series; recovery starts the following year.

06-06

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

23-06

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

31-12

Financial Highest result since 2018net €1.28M ▲7975%

Operating result €1.73M, net result €1.28M, both a record.

31-12

Financial Liquidity times 28current ratio 24.26

Current ratio from 0.88 to 24.26; short-term debt falls from €114k to €19k.

16-06

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2020

08-06

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2019

25-07

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2018

23-07

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

2017

11-07

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

2016

06-07

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 director, no change since 2026

Real Estate Development Trust

Sole director · since 25-02-2026 · Public limited company · perm. rep.: Jo Gielen

Current

25-02-2026 Real Estate Development Trust: Appointed as Sole director

25-02-2026 Verhees Gert: Resigned as Director

25-02-2026 Verhees Gert: Resigned as Managing director

Location & real-estate footprint

Registered office, Antwerpen · 1 establishment unit since 1989

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Mediaplein 12018 Antwerpen

Ground area

2,766 m²

Building footprint

2,741 m²

Volume, LiDAR

18,967 m³

2 parcels, Flanders · tallest building 16.8 m, ±3 floors. Linked by address, not a title deed.

1 establishment unit

Reyndersstraat 20, 2000 Antwerpen

NACE 70201

since 19892.042.530.978

2 parcels

Flanders 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11808H1130/00L008	Flanders	1,898 m²	1 · 1,898 m²	16.8 m · 3 fl.
11804D0401/00F000 ProtectedMonumentDe groote witte ArendSource ↗	Flanders	868 m²	1 · 843 m²	12.1 m · 1 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Structure & network

Connections & network

1 connected company

Linked via shared directors

CIM - GROUP

Shared corporate director

→

Similar companies · same sector, comparable size

Profondeville · Eq €98k

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BE 0800.393.817

Sint-Pieters-Woluwe · Eq €93k

DEPOT09

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Gent · Eq €102k

Of 1,435 companies in sector 47791 we hold annual accounts for 455. 338 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPublic limited company

Founded22-02-1989

Fiscal year end31-12

Activities, NACEBEL 2025

47791Retail sale of antiques

46150Agents in the wholesale of furniture, household goods and hardware

68201Renting and operating of own or leased residential real estate, excluding social housing

95290Repair and maintenance of other personal and household goods

Sources

Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers

Scores and ratios are computed by Checked and are not a credit decision.