Ad-ASTA
ActiveSummary
The computed 12-month bankruptcy probability of Ad-ASTA is 1.7% (moderate). The 2025 annual accounts show negative equity (-€150,583) and a net result of -€62,671. Equity is growing by ~35.4% per year across the filed fiscal years. Its solvency ranks better than 10% of 2300 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability24▼-25
Solvency18▼-4
Growth78=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 6.77 against 1.6 in 2024; short-term debt: 12.6% and cash: 2.3% of total assets), but equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer 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 2025Solvency, return and age of the figures
Solvency
-6.8%
Return on assets
-2.8%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year -€150,583
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-08-2026, 6 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 5 filingsDeviation from the deadline
2025
6 d late
2024
28 d early
2023
21 d early
2022
25 d early
2021
20 d early
← 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 18 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
-€150,583▼ 71.3%
2024 · -€87,913
Total assets
€2.2m▼ 14.1%
2024 · €2.6m
Net result
-€62,671
2024 · €87,202
Working capital
€1.6m▲ 95.7%
2024 · €817,622
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, 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-€261,969-€142,888€99,897▼ 30.1%€153,177▲ 53.3%€18,965▼ 87.6%
Net result-€329,917below the sector's middle half-€91,156within the sector's middle half€53,646within the sector's middle half▼ 41.1%€87,202within the sector's middle half▲ 62.6%-€62,671below the sector's middle half
Equity-€319,917below the sector's middle half--€228,761below the sector's middle half▲ 28.5%-€175,115below the sector's middle half▲ 23.5%-€87,913below the sector's middle half▲ 49.8%-€150,583below the sector's middle half▼ 71.3%
Total assets€1.3mwithin the sector's middle half-€875,066within the sector's middle half▼ 33.5%€1.1mwithin the sector's middle half▲ 31.0%€2.6mwithin the sector's middle half▲ 124%€2.2mabove the sector's middle half▼ 14.1%
Debt€1.6m-€1.1m▼ 32.5%€1.3m▲ 19.7%€2.7m▲ 101%€2.4m▼ 11.3%
Working capital€256,094--€485,888-€223,295▲ 54.0%€817,622€1.6m▲ 95.7%
Solvency-24.3%below the sector's middle half--26.1%below the sector's middle half▼ 1.8pp-15.3%below the sector's middle half▲ 10.9pp-3.4%below the sector's middle half▲ 11.9pp-6.8%below the sector's middle half▼ 3.4pp
Staff (FTE)4.7within the sector's middle half-6.6within the sector's middle half▲ 40.4%8.6above the sector's middle half▲ 30.3%10.3above the sector's middle half▲ 19.8%12.1above the sector's middle half▲ 17.5%
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, 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 falls in 2025; 2025 is 88% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€331,956 ▼ 17.2%
Current assets
€1.9m ▼ 13.5%
Key figures and ratios
EBITDA
€89,625▼
2024 · €224,593
Cash flow
€7,990▼
2024 · €158,618
Current ratio
6.77▲
2024 · 1.60
Debt to equity
-15.67▲
2024 · -30.25
ROA
-2.8%▼
2024 · 3.4%
Interest coverage
1.08▼
2024 · 3.10
Debt ≤ 1 year
€277,376▼
2024 · €1.4m
Debt > 1 year
€1.9m▲
2024 · €980,000
Staff costs
€1.3m▲
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,171 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 95% are still going.
- Small
- 5 to 10 years old
- negative equity
- a small loss
1.7%
went bankrupt
2.6%
stopped otherwise
95%
still going
A further 1.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% 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 1,171 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €423,793 | €601,250 | €898,672 | €1.1m | €1.3m | ▲ 13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €75,705 | €73,778 | €74,028 | €71,416 | €70,660 | ▼ 1.1% |
| Other operating charges640/8 | €29,448 | €21,622 | €33,576 | €30,973 | €32,857 | ▲ 6.1% |
| Non-recurring operating charges66A | - | - | - | - | €6,246 | - |
| Gross operating margin9900 | €266,977 | €839,538 | €1.1m | €1.4m | €1.4m | ▲ 2.1% |
| Operating profit (loss)9901 | -€261,969 | €142,888 | €99,897 | €153,177 | €18,965 | ▼ 87.6% |
| Financial income75/76B | €1,396 | - | €55 | €6,485 | €1,534 | ▼ 76.3% |
| Recurring financial income75 | €1,396 | - | €55 | €6,485 | €1,534 | ▼ 76.3% |
| Financial charges65/66B | €69,344 | €51,732 | €46,306 | €72,460 | €83,170 | ▲ 14.8% |
| Recurring financial charges65 | €69,344 | €51,732 | €46,306 | €72,460 | €83,170 | ▲ 14.8% |
| Profit (loss) for the period before taxes9903 | -€329,917 | €91,156 | €53,646 | €87,202 | -€62,671 | ▼ 172% |
| Profit (loss) for the period9904 | -€329,917 | €91,156 | €53,646 | €87,202 | -€62,671 | ▼ 172% |
| Profit (loss) for the period to be appropriated9905 | -€329,917 | €91,156 | €53,646 | €87,202 | -€62,671 | ▼ 172% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €875,066 | €1.1m | €2.6m | €2.2m | ▼ 14.1% |
| Fixed assets21/28 | €588,164 | €517,251 | €454,857 | €400,673 | €331,956 | ▼ 17.2% |
| Tangible fixed assets22/27 | €528,489 | €457,576 | €391,182 | €336,998 | €268,281 | ▼ 20.4% |
| Furniture and vehicles24 | €27,245 | €18,149 | €10,600 | €11,646 | €8,450 | ▼ 27.4% |
| Other tangible fixed assets26 | €501,244 | €439,427 | €380,582 | €325,352 | €259,832 | ▼ 20.1% |
| Financial fixed assets28 | €59,675 | €59,675 | €63,675 | €63,675 | €63,675 | = |
| Current assets29/58 | €727,750 | €357,815 | €691,633 | €2.2m | €1.9m | ▼ 13.5% |
| Amounts receivable within one year40/41 | €552,653 | €279,733 | €510,175 | €2.0m | €1.8m | ▼ 11.9% |
| Trade receivables40 | €541,677 | €279,733 | €503,639 | €2.0m | €1.8m | ▼ 13.0% |
| Other amounts receivable41 | €10,976 | - | €6,536 | - | €23,272 | - |
| Cash at bank and in hand54/58 | €144,575 | €25,990 | €159,616 | €97,792 | €49,764 | ▼ 49.1% |
| Deferred charges and accrued income490/1 | €30,522 | €52,092 | €21,842 | €50,031 | €44,366 | ▼ 11.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €875,066 | €1.1m | €2.6m | €2.2m | ▼ 14.1% |
| Equity10/15 | -€319,917 | -€228,761 | -€175,115 | -€87,913 | -€150,583 | ▼ 71.3% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | -€329,917 | -€238,761 | -€185,115 | -€97,913 | -€160,583 | ▼ 64.0% |
| Amounts payable17/49 | €1.6m | €1.1m | €1.3m | €2.7m | €2.4m | ▼ 11.3% |
| Amounts payable after more than one year17 | €1.0m | - | €125,000 | €980,000 | €1.9m | ▲ 88.8% |
| Financial debts170/4 | €1.0m | - | €125,000 | €980,000 | €1.9m | ▲ 88.8% |
| Amounts payable within one year42/48 | €471,656 | €843,703 | €914,928 | €1.4m | €277,376 | ▼ 79.5% |
| Current portion of amounts payable after more than one year42 | €225,000 | €725,000 | €725,000 | €1.1m | €0 | ▼ 100% |
| Financial debts43 | - | - | - | - | €3,246 | - |
| Credit institutions430/8 | - | - | - | - | €3,246 | - |
| Trade debts44 | €201,868 | €49,239 | €78,394 | €71,967 | €158,214 | ▲ 120% |
| Suppliers440/4 | €201,868 | €49,239 | €78,394 | €71,967 | €158,214 | ▲ 120% |
| Taxes, remuneration and social security45 | €44,788 | €69,464 | €111,534 | €231,077 | €115,917 | ▼ 49.8% |
| Taxes450/3 | €3,169 | €28,178 | €31,853 | €113,450 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €41,619 | €41,286 | €79,681 | €117,627 | €115,917 | ▼ 1.5% |
| Accrued charges and deferred income492/3 | €164,175 | €260,124 | €281,677 | €326,208 | €232,340 | ▼ 28.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€329,917 | €91,156 | €53,646 | €87,202 | -€62,671 | ▼ 172% |
| + Depreciation and write-downs630 | €75,705 | €73,778 | €74,028 | €71,416 | €70,660 | ▼ 1.1% |
| Operating cash flow (approximation) | -€254,212 | €164,934 | €127,674 | €158,618 | €7,990 | ▼ 95.0% |
| Investment in fixed assets (approximation) | - | -€2,865 | -€11,634 | -€17,232 | -€1,944 | ▲ 88.7% |
| Change in cash | - | -€118,585 | €133,626 | -€61,824 | -€48,028 | ▲ 22.3% |
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
15-09
State Gazette act
Resignations: Quercia Venture Management (director) and Eric Archambeau (vaste vertegenwoordiger van de rechtspersoon quercia venture management)5 facts ▸
State Gazette act
Resignations: Quercia Venture Management (director) and Eric Archambeau (vaste vertegenwoordiger van de rechtspersoon quercia venture management)
5 facts ▸
- General meeting, 31-08-2026
- Director resignation, Quercia Venture Management (director)
- Director resignation, Eric Archambeau (vaste vertegenwoordiger van de rechtspersoon quercia venture management)
- Director resignation, Eric Archambeau (bestuurder in eigen naam)
- Board composition, Askarr BV (sole director)
31-08
State Gazette act
Resignation: Hans Marteau (director)Permanent representatives: Eric Archambeau and Hendrik Van Asbroeck6 facts ▸
State Gazette act
Resignation: Hans Marteau (director)
Permanent representatives: Eric Archambeau and Hendrik Van Asbroeck6 facts ▸
- General meeting, 31-07-2026
- Director resignation, Hans Marteau (director)
- Board composition, Quercia Venture Management SRL (director)
- Board composition, Askarr BV (director)
- Permanent representative, Eric Archambeau (permanent representative)
- Permanent representative, Hendrik Van Asbroeck (permanent representative)
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 6 days late
2025
31-12
Financial
Liquidity quadruplescurrent ratio 6.77
Current ratio from 1.60 to 6.77; short-term debt falls from €1.4m to €277,376.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Liquidity doublescurrent ratio 1.60
Current ratio from 0.76 to 1.60.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €91,156
Net result €91,156 after one loss-making year.
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 2 have been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
no sitting director, last change in 2026
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.
Not every act has been read: a resignation may be missing here
8 of this company's 10 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2020
Ground area
3,204 m²
Building footprint
1,560 m²
Volume, LiDAR
93,951 m³
2 parcels, Brussels · tallest building 106.8 m, ±30 floors. Linked by address, not a title deed.
268
companies at this address
See who is registered here
1 establishment unit
Ad-ASTA
since 20202.308.068.676
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0227/00V003 | Brussels | 2,791 m² | 1 · 1,235 m² | 106.8 m · 30 fl. |
| 21803C0366/00H000 | Brussels | 412 m² | 1 · 325 m² | 17.4 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
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: expect extra rules on renovation or sale.
Mandate history
4 people since 2026, 0 in office
- Board
- Permanent representative
- began earlier
| Name | Functions and periods |
|---|---|
| Eric Archambeau |
|
| Eric Archambeau |
|
| Quercia Venture Management |
|
| Hans Marteau |
|
Structure & network
Owners and holdings
2 ownersOwners 2
- Sourceaccounts ASKARR 202533%
-
25%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Similar companies · same sector, comparable size
P & V GROUP
BE 0788.296.531
Heusden-Zolder · FTE 12.2
COLOR COPY PRINT
BE 0649.510.911
Tournai · FTE 12
Cegid Fin Belgium
BE 0629.721.921
Oudergem · FTE 12.4
Modere Europe
BE 0893.292.596
Machelen (Brab.) · FTE 12.4
Vico
BE 0826.375.167
Turnhout · FTE 11.8
Of 11,218 companies in sector 82100 we hold annual accounts for 3,516. 510 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded25-08-2020
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0752903607
Registered
20-11-2020
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.