A.D.S.
ActiveSummary
A.D.S. has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-39k) and a net result of €-2k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 13% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability15▲+15
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.83 against 0.87 in 2024; short-term debt: 119.7% and cash: 0% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2025Solvency, return and age of the figures
Solvency
-45.9%
Return on assets
-2.8%
Age of the figures
18 mo
raises risk · 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
Retail trade (NACE 47)
about 45% 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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-39k
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 24-11-2025, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
57 d late
2023
14 d late
2022
29 d late
2021
30 d late
2020
45 d late
2019
28 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€-39k▼ 6.6%
2024 · €-37k
Total assets
€85k▼ 12.7%
2024 · €97k
Net result
€-2k▲ 92.2%
2024 · €-31k
Working capital
€-17k▼ 20.7%
2024 · €-14k
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
Line20212022202320242025
Operating result€-4k▲ 57.8%€7k€1k▼ 78.4%€-29k€-3k▲ 91.3%
Net result€-4k▲ 65.9%€-538▲ 86.5%€-2k▼ 246%€-31k▼ 1,563%€-2k▲ 92.2%
Equity€-3k€-4k▼ 16.6%€-6k▼ 49.3%€-37k▼ 549%€-39k▼ 6.6%
Total assets€116k▼ 9.8%€108k▼ 6.8%€117k▲ 8.3%€97k▼ 16.9%€85k▼ 12.7%
Debt€119k▼ 6.8%€112k▼ 6.2%€123k▲ 9.7%€134k▲ 9.1%€124k▼ 7.4%
Working capital€3k▼ 80.6%€2k▼ 17.7%€17k▲ 630%€-14k€-17k▼ 20.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3k in 2025 against €29k in 2024; the loss shrinks.
Balance-sheet composition
Assets €85k
Fixed assets
€550
Current assets
€84k
Key figures and ratios
EBITDA
€-2k▲
2024 · €-29k
Cash flow
€-2k▲
2024 · €-31k
Solvency
-45.9%▼
2024 · -37.6%
Current ratio
0.83▼
2024 · 0.87
Quick ratio
0.00▼
2024 · 0.07
Debt to equity
-3.18▲
2024 · -3.66
ROA
-2.8%▲
2024 · -31.8%
Interest coverage
-17.85▼
2024 · -15.77
Debt ≤ 1 year
€102k▼
2024 · €112k
Debt > 1 year
€22k=
2024 · €22k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €50 | €50 | €0 | €275 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €18k | €0 | ▼ 100% |
| Other operating charges640/8 | - | €1k | €2k | €2k | €914 | ▼ 58.8% |
| Gross operating margin9900 | €-346 | €8k | €4k | €-9k | €-1k | ▲ 84.5% |
| Operating profit (loss)9901 | €-4k | €7k | €1k | €-29k | €-3k | ▲ 91.3% |
| Financial income75/76B | - | €606 | €91 | €262 | €254 | ▼ 2.9% |
| Recurring financial income75 | €3k | €606 | €91 | €262 | €254 | ▼ 2.9% |
| Financial charges65/66B | - | €8k | €3k | €2k | €127 | ▼ 93.2% |
| Recurring financial charges65 | €3k | €8k | €3k | €2k | €127 | ▼ 93.2% |
| Profit (loss) for the period before taxes9903 | €-4k | €-538 | €-2k | €-31k | €-2k | ▲ 92.2% |
| Profit (loss) for the period9904 | €-4k | €-538 | €-2k | €-31k | €-2k | ▲ 92.2% |
| Profit (loss) for the period to be appropriated9905 | €-4k | €-538 | €-2k | €-31k | €-2k | ▲ 92.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €116k | €108k | €117k | €97k | €85k | ▼ 12.7% |
| Fixed assets21/28 | €99 | €50 | €0 | - | €550 | - |
| Tangible fixed assets22/27 | €99 | €50 | €0 | - | €550 | - |
| Plant, machinery and equipment23 | - | - | €0 | - | - | - |
| Furniture and vehicles24 | - | - | €0 | - | €550 | - |
| Other tangible fixed assets26 | - | €50 | €0 | - | - | - |
| Current assets29/58 | €116k | €108k | €117k | €97k | €84k | ▼ 13.3% |
| Stocks and contracts in progress3 | €114k | €108k | €108k | €90k | €84k | ▼ 6.3% |
| Stocks30/36 | - | €108k | €108k | €90k | €84k | ▼ 6.3% |
| Amounts receivable within one year40/41 | €360 | €105 | €7k | €7k | €7 | ▼ 99.9% |
| Trade receivables40 | - | €105 | €7k | €7k | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | €7 | - |
| Cash at bank and in hand54/58 | €96 | €81 | €155 | €396 | €30 | ▼ 92.4% |
| Deferred charges and accrued income490/1 | - | €342 | €1k | €0 | €69 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €116k | €108k | €117k | €97k | €85k | ▼ 12.7% |
| Equity10/15 | €-3k | €-4k | €-6k | €-37k | €-39k | ▼ 6.6% |
| Contributions10/11 | - | €75k | €75k | €75k | €75k | = |
| Reserves13 | €5k | €5k | €5k | €5k | €672 | ▼ 85.5% |
| Non-distributable reserves130/1 | - | €198 | €198 | €198 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | €198 | €198 | €198 | €0 | ▼ 100% |
| Tax-exempt reserves132 | - | €672 | €672 | €672 | €672 | = |
| Distributable reserves133 | - | €4k | €4k | €4k | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €-83k | €-83k | €-85k | €-116k | €-115k | ▲ 1.3% |
| Amounts payable17/49 | €119k | €112k | €123k | €134k | €124k | ▼ 7.4% |
| Amounts payable after more than one year17 | €6k | €6k | €22k | €22k | €22k | = |
| Financial debts170/4 | - | €6k | €22k | €22k | €22k | = |
| Amounts payable within one year42/48 | €113k | €106k | €101k | €112k | €102k | ▼ 8.9% |
| Current portion of amounts payable after more than one year42 | - | €17k | - | - | - | - |
| Financial debts43 | - | €13k | €13k | €1k | €0 | ▼ 100% |
| Credit institutions430/8 | - | €13k | €13k | €1k | €0 | ▼ 100% |
| Trade debts44 | €20k | €33k | €50k | €24k | €15k | ▼ 38.9% |
| Suppliers440/4 | - | €33k | €50k | €24k | €15k | ▼ 38.9% |
| Taxes, remuneration and social security45 | - | €12k | €13k | €7k | €0 | ▼ 100% |
| Taxes450/3 | - | €12k | €13k | €7k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €32k | €25k | €79k | €87k | ▲ 10.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-4k | €-538 | €-2k | €-31k | €-2k | ▲ 92.2% |
| + Depreciation and write-downs630 | €1k | €50 | €50 | €0 | €275 | - |
| Operating cash flow (approximation) | €-3k | €-489 | €-2k | €-31k | €-2k | ▲ 93.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - |
| Change in cash | - | €-15 | €74 | €241 | €-366 | ▼ 252% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
24-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2024
27-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
31-03
Financial
Weakest financial yearnet €-31k
Net result drops to €-31k, the lowest in the series; recovery starts the following year.
2023
14-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 14 days late
2022
29-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2020
15-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 45 days late
2019
28-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 28 days late
2018
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
12-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
19-09
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 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, Sint-Gillis-Waas · 1 establishment unit since 2009
Ground area
960 m²
Building footprint
125 m²
Parcel 46020B0294/00T002, Flanders. Linked by address, not a title deed.
1 establishment unit
EP-Fun
since 20092.175.694.261
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46020B0294/00T002 | Flanders | 960 m² | 1 · 125 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.
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Of 12,954 companies in sector 47120 we hold annual accounts for 2,189. 355 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
Founded19-12-2008
Fiscal year end31-03
Activities, NACEBEL 2025
47120Other non-specialised retail sale
41001General construction of residential buildings
Scores and ratios are computed by Checked and are not a credit decision.