Ad Lumen
ActiveSummary
The computed 12-month bankruptcy probability of Ad Lumen is 2.5% (moderate). The 2025 annual accounts show negative equity (€-11k) and a net result of €5. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 10407 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
Profitability69▲+69
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
Credit check for your own amount and term
Signals
Seven 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
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 2025Age of the figures
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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 10407 sector peers (2025).
NBB · sector comparisonPosition among 10407 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 5 filingsDeviation from the deadline
2025
28 d late
2024
51 d early
2023
30 d late
2022
58 d late
2021
57 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€5
2024 · €-3k
2021: €-30klowest in 5 years
2022: €-29k▲ +2.3% vs 2021
2023: €-10k▲ +67.2% vs 2022
2024: €-3k▲ +69.3% vs 2023
2025: €5▲ +100% vs 2024highest in 5 years
2021 → 2025
Working capital
€-11k▲ 7.8%
2024 · €-12k
2021: €19khighest in 5 years
2022: €-8k▼ -146% vs 2021
2023: €-10k▼ -22.8% vs 2022
2024: €-12k▼ -18.6% vs 2023lowest in 5 years
2025: €-11k▲ +7.8% vs 2024
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€31k-€2k▼ 93.5%€-8k€-11k▼ 38.9%€-11k=
2021: €31khighest in 5 years
2022: €2k▼ -93.5% vs 2021
2023: €-8k▼ -474% vs 2022
2024: €-11k▼ -38.9% vs 2023lowest in 5 years
2025: €-11k● +0.0% vs 2024
Operating result€-30k-€-36k▼ 19.1%€-9k▲ 73.4%€-3k▲ 69.3%€64
2021: €-30k
2022: €-36k▼ -19.1% vs 2021lowest in 5 years
2023: €-9k▲ +73.4% vs 2022
2024: €-3k▲ +69.3% vs 2023
2025: €64▲ +102% vs 2024highest in 5 years
Net result€-30k-€-29k▲ 2.3%€-10k▲ 67.2%€-3k▲ 69.3%€5
2021: €-30klowest in 5 years
2022: €-29k▲ +2.3% vs 2021
2023: €-10k▲ +67.2% vs 2022
2024: €-3k▲ +69.3% vs 2023
2025: €5▲ +100% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €64 after a loss of €3k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4k
Fixed assets
€764 ▼ 50.8%
Current assets
€4k ▲ 330%
Key figures and ratios
EBITDA
€1k▲
2024 · €-2k
Cash flow
€954▲
2024 · €-2k
Interest coverage
17.07▲
2024 · -31.97
Debt
€15k▲
2024 · €13k
Debt ≤ 1 year
€15k▲
2024 · €13k
Ratios withheld: a balance sheet total of €4k is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3k€4k▲
Formation expenses20€161-
Fixed assets21/28€2k€764▼
Tangible fixed assets22/27€2k€764▼
Plant, machinery and equipment23€2k€764▼
Current assets29/58€823€4k▲
Stocks and contracts in progress3€616€616=
Stocks30/36€616€616=
Amounts receivable within one year40/41€139€2k▲
Trade receivables40-€2k
Other amounts receivable41€139-
Cash at bank and in hand54/58€68€504▲
Equity and liabilities
Total equity and liabilities10/49€3k€4k▲
Equity10/15€-11k€-11k=
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Profit (loss) carried forward14€-72k€-72k=
Amounts payable17/49€13k€15k▲
Amounts payable within one year42/48€13k€15k▲
Trade debts44€6k€6k▲
Suppliers440/4€6k€6k▲
Taxes, remuneration and social security45-€161
Taxes450/3-€161
Other amounts payable47/48€7k€9k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€950▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€616-
Other operating charges640/8€100€100=
Gross operating margin9900€-1k€1k▲
Operating profit (loss)9901€-3k€64▲
Financial income75/76B€1-
Recurring financial income75€1-
Financial charges65/66B€59€59▲
Recurring financial charges65€59€59▲
Profit (loss) for the period before taxes9903€-3k€5▲
Profit (loss) for the period9904€-3k€5▲
Profit (loss) for the period to be appropriated9905€-3k€5▲
Appropriation of the result
Profit (loss) to be appropriated9906€-72k€-72k=
Profit (loss) brought forward from the previous period14P€-69k€-72k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €6k | €5k | €1k | €950 | ▼ 7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €616 | - | - |
| Other operating charges640/8 | €55 | €250 | €100 | €100 | €100 | = |
| Gross operating margin9900 | €-26k | €-30k | €-4k | €-1k | €1k | ▲ 196% |
| Operating profit (loss)9901 | €-30k | €-36k | €-9k | €-3k | €64 | ▲ 102% |
| Financial income75/76B | €0 | €7k | €2k | €1 | - | - |
| Recurring financial income75 | €0 | €7k | €2k | €1 | - | - |
| Financial charges65/66B | €203 | €444 | €2k | €59 | €59 | ▲ 1.5% |
| Recurring financial charges65 | €203 | €444 | €58 | €59 | €59 | ▲ 1.5% |
| Non-recurring financial charges66B | - | - | €2k | - | - | - |
| Profit (loss) for the period before taxes9903 | €-30k | €-29k | €-10k | €-3k | €5 | ▲ 100% |
| Profit (loss) for the period9904 | €-30k | €-29k | €-10k | €-3k | €5 | ▲ 100% |
| Profit (loss) for the period to be appropriated9905 | €-30k | €-29k | €-10k | €-3k | €5 | ▲ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €48k | €14k | €5k | €3k | €4k | ▲ 69.7% |
| Formation expenses20 | €888 | €646 | €404 | €161 | - | - |
| Fixed assets21/28 | €12k | €10k | €2k | €2k | €764 | ▼ 50.8% |
| Intangible fixed assets21 | €7k | €4k | - | - | - | - |
| Tangible fixed assets22/27 | €5k | €5k | €2k | €2k | €764 | ▼ 50.8% |
| Plant, machinery and equipment23 | €5k | €5k | €2k | €2k | €764 | ▼ 50.8% |
| Current assets29/58 | €35k | €3k | €2k | €823 | €4k | ▲ 330% |
| Stocks and contracts in progress3 | €24k | €2k | €1k | €616 | €616 | = |
| Stocks30/36 | €24k | €2k | €1k | €616 | €616 | = |
| Amounts receivable within one year40/41 | €2k | €606 | €1k | €139 | €2k | ▲ 1,644% |
| Trade receivables40 | - | - | - | - | €2k | - |
| Other amounts receivable41 | €2k | €606 | €1k | €139 | - | - |
| Cash at bank and in hand54/58 | €9k | €171 | €4 | €68 | €504 | ▲ 641% |
| Deferred charges and accrued income490/1 | €322 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €48k | €14k | €5k | €3k | €4k | ▲ 69.7% |
| Equity10/15 | €31k | €2k | €-8k | €-11k | €-11k | = |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Profit (loss) carried forward14 | €-30k | €-59k | €-69k | €-72k | €-72k | = |
| Amounts payable17/49 | €17k | €12k | €13k | €13k | €15k | ▲ 13.4% |
| Amounts payable within one year42/48 | €17k | €12k | €13k | €13k | €15k | ▲ 13.4% |
| Trade debts44 | €7k | €7k | €6k | €6k | €6k | ▲ 7.9% |
| Suppliers440/4 | €7k | €7k | €6k | €6k | €6k | ▲ 7.9% |
| Advances received on contracts in progress46 | €89 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | €88 | - | - | €161 | - |
| Taxes450/3 | - | €88 | - | - | €161 | - |
| Other amounts payable47/48 | €10k | €5k | €7k | €7k | €9k | ▲ 15.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-30k | €-29k | €-10k | €-3k | €5 | ▲ 100% |
| + Depreciation and write-downs630 | €4k | €6k | €5k | €1k | €950 | ▼ 7.9% |
| Operating cash flow (approximation) | €-26k | €-24k | €-4k | €-2k | €954 | ▲ 149% |
| Investment in fixed assets (approximation) | - | €-3k | €2k | €-242 | €-161 | ▲ 33.4% |
| Change in cash | - | €-9k | €-166 | €63 | €436 | ▲ 586% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Back to profitnet €5
Net result €5 after 4 loss-making years.
10-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 58 days late
2022
26-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 57 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Nivelles · 1 establishment unit since 2020
Ground area
6,279 m²
Building footprint
170 m²
Parcel 25782C0258/00D000, Wallonia. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Ad Lumen
since 20202.307.243.978
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25782C0258/00D000 | Wallonia | 6,279 m² | 1 · 170 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 1,331 companies in sector 47762 we hold annual accounts for 479. 85 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-09-2020
Fiscal year end31-12
Activities, NACEBEL 2025
47762Retail sale of pets, pet food and pet supplies
Contact
E-mail
luc.matthews@proximus.be
Phone
+32475496053
Scores and ratios are computed by Checked and are not a credit decision.