AD ENGINEERING
ActiveSummary
AD ENGINEERING has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €795,003 and a net result of €142,249. Equity has been growing by about 6.3% per year since 2018. Its solvency ranks better than 95% of 9,883 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-10-2010 Normal situation
- Activity
- General electrical installation work NACE 43211
- Establishment unit
- 2.193.925.610 3590 Diepenbeek, since 29-10-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 18-12-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €191,114
- ▲ 25.8%
- Turnover
- ≈ €540,000
- estimated
- Profit
- €142,249
- ▲ 30.0%
- Equity
- €795,003
- ▲ 10.4%
- Total assets
- €843,184
- ▲ 7.3%
- Staff
- ≈ 0.1 FTE
- estimated
- 2025 accounts filed 25 days after the deadline
Score breakdownraises riskSector: Specialised construction activities (NACE 43)lowers riskLiquidity: current ratio 16.79, cash €657,000Equity €795,003 (94.3% of total assets)Founded in 2010Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 90% of them on solvency, 98% on liquidity, 76% on profitability and 56% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 7 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00448948.
Annual accounts 2025 filed on 25-08-2026 at the NBB all 15 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 25% higher than in 2024. It is a recovery after the fall in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,199 | - | - | €30,945 |
| Depreciation and write-downs of the year | €8,377 | €7,986 | €240 | €240 | €4,089 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as AD ENGINEERING: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €824,000 and €947,000, founded between 2009 and 2011.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| AD ENGINEERING Diepenbeek | 2010 | €843,184 | €795,003 | €191,114 | €142,249 | - | 2025 |
| GROEP LIMBURG Houthalen-Helchteren | 2011 | €893,643 | €498,574 | €190,571 | €102,416 | - | 2025 |
| VAN BELLE FREDDY Haaltert | 2011 | €824,791 | €489,702 | €188,704 | €115,736 | - | 2025 |
| BELFORMA & Associés Mons | 2010 | €895,040 | €795,470 | €188,070 | €74,924 | - | 2025 |
| LAMAST ELEKTROTECHNIEK Lokeren | 2011 | €824,415 | €433,942 | €209,011 | €35,942 | - | 2025 |
| ISJA Brakel | 2011 | €900,839 | €335,723 | €212,387 | €78,901 | 0 | 2025 |
| PEROTECH INSTALLATIEBEDRIJF Oostkamp | 2009 | €947,035 | €838,493 | €192,228 | €113,347 | - | 2025 |
They were chosen from the 10,240 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 17,811 companies had the same profile as AD ENGINEERING has now. Two years later, 0.3% had gone bankrupt and 96.5% were still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of AD ENGINEERING itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 17,811 companies, not a prediction for AD ENGINEERING. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | €547,371 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €259,495 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €4,488 | €4,488 | €3,012 | €2,198 | €2,214 | ▲ 0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,248 | €9,930 | €9,717 | €8,377 | €7,986 | €240 | €240 | €4,089 | ▲ 17× |
| Other operating charges640/8 | - | - | - | €1,820 | €1,297 | €1,058 | €5,123 | €5,110 | ▼ 0.3% |
| Gross operating margin9900 | €124,650 | €111,565 | €132,456 | €102,995 | €101,628 | €225,502 | €151,888 | €191,114 | ▲ 25.8% |
| Operating profit (loss)9901 | €108,260 | €95,739 | €117,467 | €88,310 | €87,857 | €221,193 | €144,327 | €179,701 | ▲ 24.5% |
| Financial income75/76B | - | - | - | €3 | €279 | €1,011 | €14,530 | €16,090 | ▲ 10.7% |
| Recurring financial income75 | €170 | €1,089 | €511 | €3 | €1 | €734 | €14,530 | €14,850 | ▲ 2.2% |
| Non-recurring financial income76B | - | - | - | - | €278 | €278 | - | €1,240 | - |
| Financial charges65/66B | - | - | - | €741 | €371 | €612 | - | €2,082 | - |
| Recurring financial charges65 | -€1,472 | €98 | -€329 | €741 | €371 | €612 | - | €206 | - |
| Non-recurring financial charges66B | - | - | - | - | - | - | - | €1,876 | - |
| Profit (loss) for the period before taxes9903 | €110,052 | €96,971 | €118,308 | €87,573 | €87,764 | €221,592 | €158,857 | €193,709 | ▲ 21.9% |
| Income taxes67/77 | €33,692 | €29,369 | €34,397 | €29,351 | €26,301 | €67,233 | €49,419 | €51,460 | ▲ 4.1% |
| Profit (loss) for the period9904 | €76,360 | €67,603 | €83,910 | €58,222 | €61,463 | €154,360 | €109,439 | €142,249 | ▲ 30.0% |
| Profit (loss) for the period to be appropriated9905 | €76,360 | €67,603 | €83,910 | €58,222 | €61,463 | €154,360 | €109,439 | €142,249 | ▲ 30.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €602,382 | €641,154 | €697,598 | €722,511 | €638,764 | €751,430 | €786,125 | €843,184 | ▲ 7.3% |
| Fixed assets21/28 | €40,798 | €32,519 | €22,803 | €14,426 | €7,639 | €7,400 | €7,160 | €34,016 | ▲ 375% |
| Tangible fixed assets22/27 | €34,198 | €25,919 | €16,203 | €7,826 | €1,039 | €800 | €560 | €27,416 | ▲ 49× |
| Plant, machinery and equipment23 | - | - | - | - | €1,039 | €800 | €560 | €320 | ▼ 42.8% |
| Furniture and vehicles24 | - | - | - | €7,826 | - | - | - | €27,096 | - |
| Financial fixed assets28 | €6,600 | €6,600 | €6,600 | €6,600 | €6,600 | €6,600 | €6,600 | €6,600 | = |
| Current assets29/58 | €561,584 | €608,634 | €674,795 | €708,085 | €631,125 | €744,030 | €778,965 | €809,168 | ▲ 3.9% |
| Stocks and contracts in progress3 | €6,714 | €7,143 | €7,457 | €8,107 | €7,444 | €8,004 | €7,983 | €8,623 | ▲ 8.0% |
| Stocks30/36 | - | - | - | €8,107 | €7,444 | €8,004 | €7,983 | €8,623 | ▲ 8.0% |
| Amounts receivable within one year40/41 | €60,299 | €50,041 | €14,765 | €16,895 | €59,624 | €59,914 | €29,791 | €83,546 | ▲ 180% |
| Trade receivables40 | - | - | - | €11,549 | €59,600 | €58,357 | €22,927 | €83,546 | ▲ 264% |
| Other amounts receivable41 | - | - | - | €5,347 | €24 | €1,557 | €6,863 | - | - |
| Current investments50/53 | - | - | - | - | - | - | €20,000 | €60,000 | ▲ 200% |
| Cash at bank and in hand54/58 | €493,294 | €550,645 | €652,434 | €682,232 | €563,917 | €675,960 | €721,192 | €657,000 | ▼ 8.9% |
| Deferred charges and accrued income490/1 | - | - | - | €850 | €140 | €153 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €602,382 | €641,154 | €697,598 | €722,511 | €638,764 | €751,430 | €786,125 | €843,184 | ▲ 7.3% |
| Equity10/15 | €500,251 | €537,853 | €621,764 | €661,029 | €615,994 | €687,278 | €720,357 | €795,003 | ▲ 10.4% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €487,851 | €525,453 | €609,364 | €648,629 | €603,594 | €674,878 | €707,957 | €782,603 | ▲ 10.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €646,769 | €603,594 | €674,878 | €707,957 | €782,603 | ▲ 10.5% |
| Amounts payable17/49 | €102,131 | €103,300 | €75,834 | €61,482 | €22,771 | €64,152 | €65,768 | €48,181 | ▼ 26.7% |
| Amounts payable within one year42/48 | €102,131 | €103,300 | €75,834 | €61,482 | €22,771 | €64,152 | €65,768 | €48,181 | ▼ 26.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €42,625 | - | - |
| Trade debts44 | €58,685 | €39,117 | - | €41,652 | €1,086 | €12,597 | - | €2,468 | - |
| Suppliers440/4 | - | - | - | €41,652 | €1,086 | €12,597 | - | €2,468 | - |
| Taxes, remuneration and social security45 | - | - | - | €16,205 | €21,685 | €51,555 | €23,142 | €43,304 | ▲ 87.1% |
| Taxes450/3 | - | - | - | €16,205 | €21,685 | €51,555 | €23,142 | €43,304 | ▲ 87.1% |
| Other amounts payable47/48 | - | - | - | €3,625 | - | - | - | €2,410 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €76,360 | €67,603 | €83,910 | €58,222 | €61,463 | €154,360 | €109,439 | €142,249 | ▲ 30.0% |
| + Depreciation and write-downs630 | €11,248 | €9,930 | €9,717 | €8,377 | €7,986 | €240 | €240 | €4,089 | ▲ 17× |
| Operating cash flow (approximation) | €87,608 | €77,533 | €93,627 | €66,598 | €69,449 | €154,600 | €109,678 | €146,337 | ▲ 33.4% |
| Investment in fixed assets (approximation) | - | -€1,652 | €0 | €0 | -€1,199 | €0 | €0 | -€30,945 | - |
| Change in cash | - | €57,351 | €101,789 | €29,798 | -€118,315 | €112,043 | €45,232 | -€64,192 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-08-2026 | 2026-00448948 | NBB |
| 31-12-2024 | abbreviated format | 11-08-2025 | 2025-00370254 | |
| 31-12-2023 | abbreviated format | 16-07-2024 | 2024-00265821 | |
| 31-12-2022 | abbreviated format | 21-08-2023 | 2023-00342726 | |
| 31-12-2021 | abbreviated format | 03-08-2022 | 2022-20270435 | |
| 31-12-2020 | abbreviated format | 20-08-2021 | 2021-52700322 | |
| 31-12-2019 | abbreviated format | 17-07-2020 | 2020-31600477 | |
| 31-12-2018 | abbreviated format | 13-08-2019 | 2019-45900032 | |
| 31-12-2017 | abbreviated format | 21-08-2018 | 2018-48300561 | |
| 31-12-2016 | abbreviated format | 31-07-2017 | 2017-39200472 |
Board & ownership
Directors
Owners and capital
Owners
Articles of association
- Share issue ruleThe articles set how and by whom new shares are issued.
- “Ten minste vijftien dagen, bestaande aandeelhouders”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Algemene vergadering mag één of meerdere vereffenaars aanduiden,bevoegdheden omlijnen en vergoeding bepalen, bestuurder(s) in functie als…”
Articles of association, deed of 10-05-2022 (in Dutch)
Timeline
Acts, filings and financial milestones
10-05
Gazette deed
Capital & shares · Amendment of the articles · Legal-form change · Resignations & appointmentsPower of attorney · Legal-form conversion · Capital conversion13 points ▸
- General meeting, 28-04-2022
- Amendment of the articles, mentioned 3 times in the deed
- Power of attorney, mentioned 2 times in the deed
- Other provision, “WVV-toepassing bestaande vennootschappen, statuten in overeenstemming brengen met WVV ter gelegenheid van eerstvolgende statutenwijziging na 2020-01-01” (deed in Dutch)
- Other provision, “conformiteit met WVV, rechtsvorm,kapitaal en statuten in overeenstemming brengen met WVV” (deed in Dutch)
- Legal-form conversion, “besloten vennootschap” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Other provision, “beschikbare eigen vermogensrekening” (deed in Dutch)
- Other provision, “statuten tekst vanaf heden, statuten luiden als volgt” (deed in Dutch)
- Share issue, 186, “gelijk recht per aandeel” (deed in Dutch)
- Board composition, Ahmet Demir (director)
- Power of attorney, Jean FLEMINGS
- The act holds 1 more point.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0830.972.472
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71402C0811/00E002 | Flanders | 2,248 m² | 1 · 479 m² | 8.7 m · 2 |