AD VALUE IMMO
ActiveSummary
The computed 12-month bankruptcy probability of AD VALUE IMMO is 2.3% (moderate). The 2024 annual accounts show equity of €783,101 and a net result of €37,037. The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 11-07-2023 Normal situation
- Registered office
- 18 active companies are registered at this address Source: KBO register, as of 2 November 2026.
- Activity
- No activity registered in the KBO
- Establishment unit
- 2.352.490.718 1170 Watermaal-Bosvoorde, since 11-07-2023
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Board and ownership
- PANI BrunoDirector · since 28-06-2023
- STAS Bernard Jean RobertDirector · since 28-06-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.3%
- Gross margin
- €285,725
- Turnover
- ≈ €570,000
- estimated
- Profit
- €37,037
- Equity
- €783,101
- Total assets
- €3.7m
- 2024 accounts filed 31 days after the deadline
Score breakdownraises riskLiquidity: current ratio 0.02, cash €2,230Figures for financial year 2024 (filed on 02-09-2025)lowers riskSize: total assets €3.7mNo main activity registeredShow the evidence
Checked score
About 2 in 100 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 (no NACE code, small). It does better than 29% of them on solvency, 10% on liquidity and 74% on profitability.
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).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its 2024 accounts 31 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (1)
Financials
Financials · financial year 2024, micro format
2024 annual accounts filed 31 days after the deadline Filed on 31 August 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00467026.
Annual accounts 2024 filed on 31-08-2025 PDF
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 |
|---|---|
| Tangible fixed assets | €248,523 |
| Depreciation and write-downs of the year | €515,022 |
Source: notes to the 2024 annual accounts (statement of fixed assets)
| Line | 2024 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €515,022 |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€400,000 |
| Other operating charges640/8 | €27,702 |
| Gross operating margin9900 | €285,725 |
| Operating profit (loss)9901 | €143,002 |
| Financial income75/76B | €177 |
| Recurring financial income75 | €177 |
| Financial charges65/66B | €97,564 |
| Recurring financial charges65 | €97,564 |
| Profit (loss) for the period before taxes9903 | €45,615 |
| Income taxes67/77 | €8,578 |
| Profit (loss) for the period9904 | €37,037 |
| Profit (loss) for the period to be appropriated9905 | €37,037 |
| Line | 2024 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €3.7m | |
| Fixed assets21/28 | €3.6m | |
| Tangible fixed assets22/27 | €3.6m | |
| Land and buildings22 | €3.4m | |
| Plant, machinery and equipment23 | €0.2m | |
| Furniture and vehicles24 | €0.04m | |
| Current assets29/58 | €0.06m | |
| Amounts receivable within one year40/41 | €0.04m | |
| Trade receivables40 | €0.005m | |
| Other amounts receivable41 | €0.04m | |
| Cash at bank and in hand54/58 | €0.002m | |
| Deferred charges and accrued income490/1 | €0.01m | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €3.7m | |
| Equity10/15 | €0.8m | |
| Contributions10/11 | €0.5m | |
| Profit (loss) carried forward14 | €0.3m | |
| Amounts payable17/49 | €2.9m | |
| Amounts payable after more than one year17 | €0.2m | |
| Financial debts170/4 | €0.2m | |
| Amounts payable within one year42/48 | €2.7m | |
| Current portion of amounts payable after more than one year42 | €0.1m | |
| Trade debts44 | €0.05m | |
| Suppliers440/4 | €0.05m | |
| Taxes, remuneration and social security45 | €0.009m | |
| Taxes450/3 | €0.009m | |
| Other amounts payable47/48 | €2.5m | |
| Accrued charges and deferred income492/3 | €0.001m | |
| Line | 2024 |
|---|---|
| Profit (loss) for the period9904 | €37,037 |
| + Depreciation and write-downs630 | €515,022 |
| Operating cash flow (approximation) | €552,058 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 896 companies had the same profile as AD VALUE IMMO has now. Two years later, 1.1% had gone bankrupt and 98.1% were still going.
- Small
- 2 to 5 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of AD VALUE IMMO itself is higher: 2.3% within 12 months. It rests on far more data about AD VALUE IMMO than the profile alone.
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 896 companies, not a prediction for AD VALUE IMMO. 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.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 31-08-2025 | 2025-00467026 |
Board & ownership
Directors
Owners and capital
Shareholders
Owners 0
See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.
Former owners (1)
- Sourceact 25-09-2025100%
Capital transactions
- A.D. Value SA all shares
- 13-07-2023 Capital stated in the deed · €495,518.23 · 11,728 shares
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| PANI Bruno |
|
| STAS Bernard Jean Robert |
|
| Bernard Stas |
|
| MAES Jean-Philippe |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Prix offert par tiers ou en cas contestation prix déterminé par expert désigné commun accord ou défaut par président tribunal de commerce…”
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 13-07-2023 (in French)
Network & group
Acquisitions and mergers
2 transactionsConnections & network
6 connected companiesShow 2 more companies with a shared director
Timeline
Acts, filings and financial milestones
29-09
Gazette deed
Merger: absorbed by A.D. ValueDeclaration · Power of attorney4 points ▸
- General meeting, “assemblée générale extraordinaire des actionnaires, unanimité” (deed in French)
- Merger, “fusion par absorption, actionnaire unique” (deed in French)
- Declaration, “absence de modification importante du patrimoine, entre la date de l'établissement du projet de fusion et la date de la dernière assemblée générale qui se prono…” (deed in French)
- Power of attorney, PANI Bruno
12-05
Gazette deed
Merger proposal: to be absorbed by A.D. Value SAShareholding · Accounting effect19 points ▸
- Merger, “opération assimilée à une fusion par absorption, intégralité du patrimoine,activement et passivement” (deed in French)
- Other provision, “administrateur délégué, representation for merger project” (deed in French)
- Other provision, “administrateur, representation for merger project” (deed in French)
- A.D. Value SA holds all the shares
- Other provision, “création d'actions nouvelles, détention de l'entièreté des parts par la société absorbante” (deed in French)
- Other provision, “administrateur, représentation pour le projet de fusion” (deed in French)
- Other provision, 31-12-2024
- Accounting effect, 31-12-2024
- Other provision, “modification de l'objet social, objet de l'absorbante compatible et couvrant les activités de l'absorbée” (deed in French)
- Other provision, “associés de la société absorbée ni aucune autre personne, droits spéciaux à attribuer aux associés” (deed in French)
- Other provision, “avantages particuliers, membres des organes de gestion des sociétés appelées à fusionner” (deed in French)
- Other provision, “dispense d'approbation par l'assemblée générale de la société absorbante, article 12.30,§6 du Code des Sociétés et des Associations” (deed in French)
- The act holds 7 more points.
28-01
Gazette deed
Resignations: Bernard Stas (director) and Jean-Philippe Maes (director)Director discharge5 points ▸
- General meeting, 21-10-2024
- Director resignation, Bernard Stas (director)
- Director resignation, Jean-Philippe Maes (director)
- Director discharge, Bernard Stas (director)
- Director discharge, Jean-Philippe Maes (director)
13-07
Gazette deed
IncorporationDemerger: P1 CONSULT splits off to AD VALUE IMMO · Appointments: PANI Bruno Jean Pierre, MAES Jean-Philippe and STAS Bernard Jean Robert · Declaration26 points ▸
- Declaration, “informations et communications légales, article 12:80, § 1er du Code des sociétés et des associations” (deed in French)
- General meeting, “procès-verbal dressé par le notaire soussigné, ce jour, antérieurement aux présentes, approbation du projet de scission dans toutes ses dispositions” (deed in French)
- General meeting, “renonciation aux rapports de scission et de contrôle, article 12:62 § 1er, dernier alinéa et article 12:81 du Code des sociétés et des associations” (deed in French)
- Demerger, “sans soulte, sans désignation de valeur nominale” (deed in French), mentioned 2 times in the deed
- Other provision, “attributions aux actionnaires des sociétés bénéficiaires, sans soulte” (deed in French)
- General meeting, “projet d’acte constitutif et statuts de la société à responsabilité limitée AD VALUE IMMO à constituer par voie de scission, créer une société” (deed in French)
- Power of attorney
- Power of attorney, PANI Bruno Jean Pierre (sole director)
- Real estate, “WATERMAEL-BOITSFORT - DEUXIÈME DIVISION”, EUR (deed in French), mentioned 2 times in the deed
- Real estate, “six ares vingt-sept centiares (6 a 27ca), rue Middelbourg, 64A/66” (deed in French)
- Other provision, “dans l’état où ils se trouvent, connaissance des biens transférés” (deed in French)
- Other provision, “propriété et jouissance des biens transférés”, 01-01-2023 (deed in French)
- The act holds 14 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21652E0615/00K000 | Brussels | 84 m² | 1 · 41 m² | 7.0 m · 2 |