A.D.S.
ActiveSummary
A.D.S. has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €269,722 and a net result of €9,491. Equity is growing by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 69% of 8160 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability48▲+35
Solvency88▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20,000 at 30 days acceptable
Liquidity ample (current ratio 2.67 against 2.9 in 2024; short-term debt: 36.7% and cash: 65.7% of total assets), and 36.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
63.3%
Return on assets
2.2%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
23 d early
2023
26 d early
2022
28 d early
2021
30 d early
2020
29 d early
2019
on the day
← 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 23 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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 3 July (5 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, abbreviated schema
Equity
€269,722▲ 3.6%
2024 · €260,231
Total assets
€425,922▲ 8.7%
2024 · €391,940
Net result
€9,491
2024 · -€19,252
Working capital
€261,462▲ 4.6%
2024 · €249,861
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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€14,371▼ 39.1%€66,267▲ 361%€73,499▲ 10.9%-€17,121€16,675
Net result€15,842within the sector's middle half▲ 2.3%€33,152within the sector's middle half▲ 109%€52,305within the sector's middle half▲ 57.8%-€19,252below the sector's middle half€9,491within the sector's middle half
Equity€230,626within the sector's middle half▲ 7.4%€263,778within the sector's middle half▲ 14.4%€316,083within the sector's middle half▲ 19.8%€260,231within the sector's middle half▼ 17.7%€269,722within the sector's middle half▲ 3.6%
Total assets€444,696below the sector's middle half▲ 50.4%€465,730below the sector's middle half▲ 4.7%€524,231below the sector's middle half▲ 12.6%€391,940below the sector's middle half▼ 25.2%€425,922within the sector's middle half▲ 8.7%
Debt€214,070▲ 165%€201,952▼ 5.7%€208,149▲ 3.1%€131,709▼ 36.7%€156,200▲ 18.6%
Working capital€228,459within the sector's middle half▲ 8.5%€248,668within the sector's middle half▲ 8.8%€297,481within the sector's middle half▲ 19.6%€249,861within the sector's middle half▼ 16.0%€261,462within the sector's middle half▲ 4.6%
Solvency51.9%within the sector's middle half▼ 20.8pp56.6%within the sector's middle half▲ 4.8pp60.3%within the sector's middle half▲ 3.7pp66.4%within the sector's middle half▲ 6.1pp63.3%within the sector's middle half▼ 3.1pp
Current ratio2.07within the sector's middle half▼ 1.532.23within the sector's middle half▲ 0.162.43within the sector's middle half▲ 0.202.90within the sector's middle half▲ 0.462.67within the sector's middle half▼ 0.22
Return on assets (ROA)3.6%within the sector's middle half▼ 1.7pp7.1%within the sector's middle half▲ 3.6pp10.0%within the sector's middle half▲ 2.9pp-4.9%below the sector's middle half▼ 14.9pp2.2%within the sector's middle half▲ 7.1pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €16,675 after a loss of €17,121 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €425,922
Fixed assets
€8,260 ▼ 20.4%
Current assets
€417,662 ▲ 9.5%
Equity and liabilities €425,922
Equity
€269,722 ▲ 3.6%
Debt
€156,200 ▲ 18.6%
Debt's share of the balance-sheet total rises from 33.6% to 36.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€20,217▲
2024 · -€5,481
Cash flow
€13,033▲
2024 · -€7,611
Debt to equity
0.58▲
2024 · 0.51
ROE
3.5%▲
2024 · -7.4%
Interest coverage
3.13▲
2024 · -1.21
Debt ≤ 1 year
€156,200▲
2024 · €131,709
Income taxes
€1,454▲
2024 · €597
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 17,027 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,648 | €2,672 | €5,124 | €11,640 | €3,542 | ▼ 69.6% |
| Other operating charges640/8 | €846 | €1,075 | €1,336 | €1,142 | €1,784 | ▲ 56.3% |
| Gross operating margin9900 | €18,864 | €70,014 | €79,959 | -€4,339 | €22,001 | ▲ 607% |
| Operating profit (loss)9901 | €14,371 | €66,267 | €73,499 | -€17,121 | €16,675 | ▲ 197% |
| Financial income75/76B | €12,286 | €5,303 | €2,351 | €3,180 | €1,325 | ▼ 58.3% |
| Recurring financial income75 | €12,286 | €5,303 | €2,351 | €3,180 | €1,325 | ▼ 58.3% |
| Financial charges65/66B | €2,065 | €24,577 | €1,931 | €4,713 | €7,056 | ▲ 49.7% |
| Recurring financial charges65 | €2,065 | €24,577 | €1,931 | €4,548 | €6,456 | ▲ 42.0% |
| Non-recurring financial charges66B | - | - | - | €166 | €600 | ▲ 262% |
| Profit (loss) for the period before taxes9903 | €24,592 | €46,993 | €73,919 | -€18,654 | €10,944 | ▲ 159% |
| Income taxes67/77 | €8,750 | €13,841 | €21,615 | €597 | €1,454 | ▲ 143% |
| Profit (loss) for the period9904 | €15,842 | €33,152 | €52,305 | -€19,252 | €9,491 | ▲ 149% |
| Profit (loss) for the period to be appropriated9905 | €15,842 | €33,152 | €52,305 | -€19,252 | €9,491 | ▲ 149% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €444,696 | €465,730 | €524,231 | €391,940 | €425,922 | ▲ 8.7% |
| Fixed assets21/28 | €2,827 | €15,110 | €19,326 | €10,370 | €8,260 | ▼ 20.4% |
| Intangible fixed assets21 | - | - | €6,906 | €5,380 | €3,855 | ▼ 28.4% |
| Tangible fixed assets22/27 | €2,827 | €15,110 | €12,420 | €4,990 | €4,405 | ▼ 11.7% |
| Land and buildings22 | €412 | - | - | - | - | - |
| Plant, machinery and equipment23 | €2,414 | €1,863 | €2,020 | €3,489 | €3,408 | ▼ 2.3% |
| Furniture and vehicles24 | - | €13,247 | €10,400 | €1,501 | €997 | ▼ 33.6% |
| Current assets29/58 | €441,869 | €450,620 | €504,905 | €381,570 | €417,662 | ▲ 9.5% |
| Amounts receivable within one year40/41 | €150,923 | €3,077 | €57,590 | €145,291 | €132,622 | ▼ 8.7% |
| Trade receivables40 | €148,597 | €3,060 | €57,572 | €128,392 | €117,194 | ▼ 8.7% |
| Other amounts receivable41 | €2,326 | €17 | €17 | €16,899 | €15,428 | ▼ 8.7% |
| Cash at bank and in hand54/58 | €281,237 | €435,854 | €436,004 | €233,594 | €279,830 | ▲ 19.8% |
| Deferred charges and accrued income490/1 | €9,709 | €11,690 | €11,311 | €2,685 | €5,210 | ▲ 94.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €444,696 | €465,730 | €524,231 | €391,940 | €425,922 | ▲ 8.7% |
| Equity10/15 | €230,626 | €263,778 | €316,083 | €260,231 | €269,722 | ▲ 3.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €212,026 | €245,178 | €297,483 | €241,631 | €251,122 | ▲ 3.9% |
| Non-distributable reserves130/1 | €72,360 | €105,510 | €155,950 | €119,350 | €128,840 | ▲ 8.0% |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Own shares acquired1312 | €70,500 | - | - | - | - | - |
| Other1319 | - | €103,650 | €155,950 | €119,350 | €128,840 | ▲ 8.0% |
| Distributable reserves133 | €139,666 | €139,668 | €141,533 | €122,281 | €122,282 | = |
| Amounts payable17/49 | €214,070 | €201,952 | €208,149 | €131,709 | €156,200 | ▲ 18.6% |
| Amounts payable within one year42/48 | €213,410 | €201,952 | €207,424 | €131,709 | €156,200 | ▲ 18.6% |
| Trade debts44 | €205,877 | €183,715 | €195,367 | €121,900 | €150,337 | ▲ 23.3% |
| Suppliers440/4 | €205,877 | €183,715 | €195,367 | €121,900 | €150,337 | ▲ 23.3% |
| Taxes, remuneration and social security45 | €6,966 | €16,255 | €10,887 | €2,425 | €3,250 | ▲ 34.0% |
| Taxes450/3 | €6,966 | €13,030 | €6,962 | - | €825 | - |
| Remuneration and social security454/9 | - | €3,225 | €3,925 | €2,425 | €2,425 | = |
| Other amounts payable47/48 | €568 | €1,982 | €1,170 | €7,384 | €2,613 | ▼ 64.6% |
| Accrued charges and deferred income492/3 | €660 | - | €725 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,842 | €33,152 | €52,305 | -€19,252 | €9,491 | ▲ 149% |
| + Depreciation and write-downs630 | €3,648 | €2,672 | €5,124 | €11,640 | €3,542 | ▼ 69.6% |
| Operating cash flow (approximation) | €19,490 | €35,824 | €57,429 | -€7,611 | €13,033 | ▲ 271% |
| Investment in fixed assets (approximation) | - | -€14,955 | -€9,341 | -€2,684 | -€1,432 | ▲ 46.7% |
| Change in cash | - | €154,617 | €151 | -€202,411 | €46,236 | ▲ 123% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €9,491
Net result €9,491 after one loss-making year.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€19,252
Net result drops to -€19,252, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €52,305 ▲57.8%
Operating result €73,499, net result €52,305, both a record.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €200,000Eq €214,783 ▲7.8%
3 profitable years in a row build equity to €214,783.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Sint-Katelijne-Waver · 1 establishment unit since 2000
Ground area
3,424 m²
Building footprint
286 m²
Volume, LiDAR
1,372 m³
Parcel 12422D0005/00F000, Flanders · tallest building 12.0 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Clemenceaustraat 146, 2860 Sint-Katelijne-Waver
since 20002.099.408.414
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12422D0005/00F000 | Flanders | 3,424 m² | 1 · 286 m² | 12.0 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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Of 679 companies in sector 46494 we hold annual accounts for 532. 405 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
Founded13-01-2000
Fiscal year end31-12
Activities, NACEBEL 2025
46494Wholesale of non-electrical household articles
47551Retail sale of household furniture
47552Retail sale of lighting equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0469664201
Registered
16-12-2025
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.