Result
-€29,110 -€29,110
From profit to loss in 2025, after a profit of €102,434 in 2024.
AD
Part of the group
15 companies
Lifetime
19 annual accounts with figures on one time axispeak €907,742 (2020)
€634,394▼ 5.8%
lowest -€29,110 (2025)
-€29,110▼ €131,544
peak €949,783 (2024)
€918,691▼ 3.3%
€895,316▲ 181%
peak 10.2 FTE (2018)
10.2 FTE▲ 21.4%
Board5 names since 2020
1 director
Owners
100%
Documentsfilings and deeds
09-06-202652 days before the deadline
2025abbreviated format
Loss of €29,110Staff from 8.4 FTE to 10.2 FTEPowers of attorney: , and 9 others 09-12Debts from €318,678 to €895,316Cash from €32,434 to €465,221
Key points
from the 2025 annual accountsTurnover
≈ €1.5m estimated
The abbreviated format states no turnover.
Debts
€895,316 ▲ 181%
Debts rose by €576,638 in 2025.
Staff
10 employees on 31-12-2025
In 2025, 29 people joined and 26 left.
Filings
19 annual accounts since 2007
The 2020 accounts came 4 days late. The other nine of the last ten were filed on time.
Position in the sector
-€29,110
Lower net result than 88% of companies in civil engineering. Sector median €70,198 · 603 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 8,609 companies had the same profile as AD has now. Each dot stands for 22 companies, two years later.
94.2%
were still trading
5.2%
stopped another way
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
Test of the method
The method was tested on the 497,331 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 8,609 companies, not a prediction for AD. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Board and ownership
Director, , since 02-12-2022
Auditor,
- 100%score equity €43.3m (2025) · deed of 10-03-2026
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0876992836
1 statutory auditor appointed
° (statutory auditor) · Permanent representatives: and · holds all the shares · General meeting of 06-06-2025 · Gazette deed
Registered office moved from Laarne to Lokeren
New registered office: Nieuwe Dreef 62, 9160 Lokeren · Previous registered office: De Wallekens 12, 9270 Laarne · General meeting of 05-01-2026 · Gazette deed
Registered office moved within Laarne
New registered office: De Wallekens 12, 9270 Laarne · Previous registered office: Zauwerstraat 31, 9270 Laarne · Permanent representative: · General meeting of 27-03-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| AD Lokeren | €1.8m | €0.6m | 50.6% | 10.2 |
| PINEUR CURAGE Hannut | €1.6m | €1.0m | 48.6% | 9.8 |
| ALGEMENE WATERBOUW- EN MAAIWERKEN Hasselt | €2.8m | €0.9m | 65.1% | 5.6 |
| Ondernemingen Fettweis J.P. Heers | €1.1m | €0.5m | 40.4% | 7.6 |
| GEBRUERS RUIMINGSWERKEN Olen | €1.1m | €0.8m | 48.6% | 3.3 |
| VAULET Verlaine | €1.6m | €0.4m | 55.3% | 5 |
| ALGEMENE ONDERNEMING R. DE ROECK Beveren-Kruibeke-Zwijndrecht | €7.9m | €2.0m | 46.7% | 10.9 |
These companies have the same main activity as AD: civil engineering (NACE 42911). They are comparable in size and age: total assets between €1.1m and €7.9m, founded between 1979 and 2005.
Official details
Source: KBO- Status
- Active since 28-10-2005Normal situation
- Activity
- Civil engineeringNACE 42911and 7 others
- Joint committees
- 124Construction
- 145Horticulture
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.151.268.7709160 Lokeren, since 17-01-2006
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- €1.8m▲ 43.0%
- Employeeson 31-12-2025
- 10▲ 42.9%
- Filing
- Filed on 09-06-2026, 52 days before the end of the filing period
Insights on AD
AD files the abbreviated format. That format states no turnover. The gross margin rose from €32,991 in 2007 to €634,394 in 2025.
holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about AD
- What is the company number of AD?
- The company number of AD is 0876.992.836. The VAT number is the same number with BE in front: BE 0876.992.836.
- Where is AD based?
- The registered office is at Nieuwe Dreef 62, 9160 Lokeren.Company details
- What does AD do?
- According to the KBO register, the main activity is civil engineering (NACE 42911).
- What is the legal form of AD?
- AD is a private limited company (BV).
- When was AD founded?
- AD was founded on 28-10-2005.
- Is AD still active?
- Yes, AD is an active enterprise in the KBO register.
- How many employees does AD have?
- AD had an average of 10.2 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does AD fall under?
- In its 2025 annual accounts, AD states joint committees 124 (Construction), 145 (Horticulture) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of AD?
- The turnover in financial year 2025 is ≈ €1.5m. This figure is estimated from the gross margin of €634,394 and 2,274 comparable companies of the same size. It probably lies between €900,000 and €2.5m. It is a rough estimate.
- Is AD profitable?
- In financial year 2025, AD made a loss of €29,110.
- Where can I find the annual accounts of AD?
- AD filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of AD due?
- AD must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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