AD REM MANAGEMENT
ActiveSummary
AD REM MANAGEMENT has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €780,639 and a net result of €143,555. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 71% of 37948 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability86▲+1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €65,000 at 30 days acceptable
Liquidity ample (current ratio 3.95 against 5.15 in 2023; short-term debt: 23.4% and cash: 16.5% of total assets), and 23.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
76.3%
Return on assets
14%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 02-06-2025, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
59 d early
2023
63 d early
2022
33 d early
2021
25 d early
2020
37 d early
2019
37 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 42 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€780,639▼ 7.6%
2023 · €845,074
Total assets
€1.0m▼ 0.9%
2023 · €1.0m
Net result
€143,555▲ 4.1%
2023 · €137,924
Working capital
€705,149▼ 7.9%
2023 · €765,957
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Line20202021202220232024
Operating result€508,416▲ 63.7%€121,201▼ 76.2%-€32,637€177,923€197,993▲ 11.3%
Net result€347,535above the sector's middle half▲ 67.1%€83,782above the sector's middle half▼ 75.9%-€21,684below the sector's middle half€137,924above the sector's middle half€143,555above the sector's middle half▲ 4.1%
Equity€989,392above the sector's middle half▲ 8.8%€975,472above the sector's middle half▼ 1.4%€865,217above the sector's middle half▼ 11.3%€845,074above the sector's middle half▼ 2.3%€780,639above the sector's middle half▼ 7.6%
Total assets€1.3mabove the sector's middle half▲ 30.0%€1.1mabove the sector's middle half▼ 14.9%€961,974above the sector's middle half▼ 11.2%€1.0mabove the sector's middle half▲ 7.2%€1.0mabove the sector's middle half▼ 0.9%
Debt€283,217▲ 305%€107,892▼ 61.9%€96,757▼ 10.3%€186,595▲ 92.8%€241,867▲ 29.6%
Working capital€807,785▲ 11.9%€830,625▲ 2.8%€751,611▼ 9.5%€765,957▲ 1.9%€705,149▼ 7.9%
Solvency77.7%above the sector's middle half▼ 15.1pp90.0%above the sector's middle half▲ 12.3pp89.9%above the sector's middle half▼ 0.1pp81.9%above the sector's middle half▼ 8.0pp76.3%within the sector's middle half▼ 5.6pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 11% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.0m
Fixed assets
€77,950 ▼ 3.9%
Current assets
€944,556 ▼ 0.6%
Equity and liabilities €1.0m
Equity
€780,639 ▼ 7.6%
Debt
€241,867 ▲ 29.6%
Debt's share of the balance-sheet total rises from 18.1% to 23.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€205,689▲
2023 · €203,366
Cash flow
€151,251▼
2023 · €163,366
Current ratio
3.95▼
2023 · 5.15
Debt to equity
0.31▲
2023 · 0.22
ROE
18.4%▲
2023 · 16.3%
ROA
14.0%▲
2023 · 13.4%
Interest coverage
6116.24▲
2023 · 806.75
Debt ≤ 1 year
€239,407▲
2023 · €184,595
Income taxes
€62,244▲
2023 · €49,346
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,792 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 497,058 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% | 1.6% |
| 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 74% 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 17,792 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,993 | €26,014 | €25,593 | €25,442 | €7,696 | ▼ 69.7% |
| Other operating charges640/8 | - | €1,848 | €1,930 | €2,045 | €2,044 | = |
| Gross operating margin9900 | €535,197 | €149,062 | -€5,115 | €205,410 | €207,733 | ▲ 1.1% |
| Operating profit (loss)9901 | €508,416 | €121,201 | -€32,637 | €177,923 | €197,993 | ▲ 11.3% |
| Financial income75/76B | - | €5,853 | €11,512 | €9,599 | €7,840 | ▼ 18.3% |
| Recurring financial income75 | €4,098 | €5,853 | €11,512 | €9,599 | €7,840 | ▼ 18.3% |
| Financial charges65/66B | - | €10,091 | €76 | €252 | €34 | ▼ 86.7% |
| Recurring financial charges65 | €7,072 | €73 | €76 | €252 | €34 | ▼ 86.7% |
| Non-recurring financial charges66B | - | €10,018 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €505,441 | €116,962 | -€21,202 | €187,271 | €205,799 | ▲ 9.9% |
| Income taxes67/77 | €157,907 | €33,180 | €482 | €49,346 | €62,244 | ▲ 26.1% |
| Profit (loss) for the period9904 | €347,535 | €83,782 | -€21,684 | €137,924 | €143,555 | ▲ 4.1% |
| Profit (loss) for the period to be appropriated9905 | €347,535 | €83,782 | -€21,684 | €137,924 | €143,555 | ▲ 4.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.1m | €961,974 | €1.0m | €1.0m | ▼ 0.9% |
| Fixed assets21/28 | €183,607 | €146,847 | €115,606 | €81,117 | €77,950 | ▼ 3.9% |
| Tangible fixed assets22/27 | €90,294 | €67,635 | €43,022 | €23,272 | €17,105 | ▼ 26.5% |
| Plant, machinery and equipment23 | - | €1,952 | €2,032 | €2,208 | €2,405 | ▲ 8.9% |
| Furniture and vehicles24 | - | €42,517 | €22,485 | €2,918 | €1,647 | ▼ 43.6% |
| Other tangible fixed assets26 | - | €23,166 | €18,505 | €18,146 | €13,053 | ▼ 28.1% |
| Financial fixed assets28 | €93,313 | €79,212 | €72,584 | €57,845 | €60,845 | ▲ 5.2% |
| Current assets29/58 | €1.1m | €936,517 | €846,368 | €950,552 | €944,556 | ▼ 0.6% |
| Amounts receivable within one year40/41 | €117,073 | €43,724 | €44,453 | €169,216 | €108,018 | ▼ 36.2% |
| Trade receivables40 | - | €15,549 | €31,485 | €138,485 | €73,018 | ▼ 47.3% |
| Other amounts receivable41 | - | €28,176 | €12,968 | €30,732 | €35,000 | ▲ 13.9% |
| Current investments50/53 | €298,795 | €352,328 | €313,675 | €615,601 | €667,099 | ▲ 8.4% |
| Cash at bank and in hand54/58 | €672,045 | €539,301 | €487,094 | €164,568 | €168,259 | ▲ 2.2% |
| Deferred charges and accrued income490/1 | - | €1,164 | €1,146 | €1,167 | €1,180 | ▲ 1.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.1m | €961,974 | €1.0m | €1.0m | ▼ 0.9% |
| Equity10/15 | €989,392 | €975,472 | €865,217 | €845,074 | €780,639 | ▼ 7.6% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €901,726 | €887,806 | €799,235 | €779,092 | €714,656 | ▼ 8.3% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | €885,946 | €797,375 | €777,232 | €714,656 | ▼ 8.1% |
| Profit (loss) carried forward14 | €75,266 | €75,266 | €53,582 | €53,582 | €53,582 | = |
| Amounts payable17/49 | €283,217 | €107,892 | €96,757 | €186,595 | €241,867 | ▲ 29.6% |
| Amounts payable within one year42/48 | €281,217 | €105,892 | €94,757 | €184,595 | €239,407 | ▲ 29.7% |
| Trade debts44 | €3,696 | €692 | €2,539 | €6,431 | €2,049 | ▼ 68.1% |
| Suppliers440/4 | - | €692 | €2,539 | €6,431 | €2,049 | ▼ 68.1% |
| Taxes, remuneration and social security45 | - | €9,989 | €10,622 | €28,882 | €42,378 | ▲ 46.7% |
| Taxes450/3 | - | €7,915 | €10,622 | €26,715 | €40,114 | ▲ 50.2% |
| Remuneration and social security454/9 | - | €2,073 | - | €2,166 | €2,264 | ▲ 4.5% |
| Other amounts payable47/48 | - | €95,212 | €81,596 | €149,282 | €194,980 | ▲ 30.6% |
| Accrued charges and deferred income492/3 | - | €2,000 | €2,000 | €2,000 | €2,460 | ▲ 23.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €347,535 | €83,782 | -€21,684 | €137,924 | €143,555 | ▲ 4.1% |
| + Depreciation and write-downs630 | €24,993 | €26,014 | €25,593 | €25,442 | €7,696 | ▼ 69.7% |
| Operating cash flow (approximation) | €372,528 | €109,796 | €3,909 | €163,366 | €151,251 | ▼ 7.4% |
| Investment in fixed assets (approximation) | - | €10,746 | €5,649 | €9,047 | -€4,529 | ▼ 150% |
| Change in cash | - | -€132,744 | -€52,206 | -€322,527 | €3,691 | ▲ 101% |
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
2025
30-07
State Gazette act
General meeting · Director resignation
Director appointment · Mandate compensation
23-07
State Gazette act
General meeting · Capital increase
Capital · Demerger
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-11
State Gazette act
General meeting · Director reappointment
Permanent representative · Director appointment
24-09
State Gazette act
General meeting · Director reappointment
Permanent representative · Director appointment
26-06
State Gazette act
General meeting · Director appointment
Permanent representative
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €137,924
Net result €137,924 after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€21,684
Net result drops to -€21,684, the lowest in the series; recovery starts the following year.
28-12
State Gazette act
General meeting · Board composition
Demerger · Capital decrease · Marc Topff
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Show earlier events
2021
31-12
Financial
Liquidity doublescurrent ratio 8.84
Current ratio from 3.87 to 8.84; short-term debt falls from €281,217 to €105,892.
03-11
State Gazette act
General meeting · Director reappointment
Permanent representative · Director appointment
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €347,535 ▲67.1%
Operating result €508,416, net result €347,535, both a record.
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-12
State Gazette act
General meeting · Director reappointment
Director appointment · Permanent representative
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
28-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB 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, Ternat · 1 establishment unit since 2009
Ground area
1,803 m²
Building footprint
186 m²
Volume, LiDAR
1,147 m³
Parcel 23091C0493/00R000, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Ad Rem Management
since 20092.176.412.655
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23091C0493/00R000 | Flanders | 1,803 m² | 1 · 186 m² | 9.2 m · 2 fl. |
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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
0.2%
According to the 2024 annual accounts of AD REM MANAGEMENT and those 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
The group is listed under Ownership & control below; here you explore it as a network.
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Shareholding
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Ownership & control
3 board mandatesBoard mandates of this companythis company sits on their board3
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,589. 30,499 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
Founded19-02-2009
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
E-mail
p.grypdonck@gmail.comTernat
Phone
0495/282631Ternat
E-invoicing
Reachable via Peppol
Peppol ID
0208:0809913970
Also
9925:BE0809913970
Registered
13-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.