ADS
ActiveSummary
ADS has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €721,483 and a net result of €171,107. Equity is growing by ~28% per year across the filed fiscal years. Its solvency ranks better than 89% of 9294 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▼-5
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity ample (current ratio 6.21 against 4.83 in 2024; short-term debt: 12.5% and cash: 47.9% of total assets), and 12.5% 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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 2025Solvency, return and age of the figures
Solvency
87.5%
Return on assets
20.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
27 d late
2023
31 d late
2022
20 d late
2021
7 d late
2020
3 d early
2019
57 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#9 company by equity in Kasterlee, Real estate sector
Equity
€721,483▲ 31.1%
2024 · €550,376
Total assets
€824,231▲ 24.8%
2024 · €660,576
Net result
€171,107▼ 12.9%
2024 · €196,423
Working capital
€535,380▲ 26.8%
2024 · €422,259
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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€71,706▼ 60.3%€42,985▼ 40.1%€26,619▼ 38.1%€304,102▲ 1,042%€253,710▼ 16.6%
Net result€52,160above the sector's middle half▼ 61.5%€28,273within the sector's middle half▼ 45.8%€16,082within the sector's middle half▼ 43.1%€196,423above the sector's middle half▲ 1,121%€171,107above the sector's middle half▼ 12.9%
Equity€309,598within the sector's middle half▲ 11.6%€337,871within the sector's middle half▲ 9.1%€353,954above the sector's middle half▲ 4.8%€550,376above the sector's middle half▲ 55.5%€721,483within the sector's middle half▲ 31.1%
Total assets€401,783within the sector's middle half▲ 6.0%€413,163below the sector's middle half▲ 2.8%€431,120within the sector's middle half▲ 4.3%€660,576within the sector's middle half▲ 53.2%€824,231within the sector's middle half▲ 24.8%
Debt€92,185▼ 9.3%€75,292▼ 18.3%€77,167▲ 2.5%€110,200▲ 42.8%€102,748▼ 6.8%
Working capital€257,404▲ 6.2%€292,658▲ 13.7%€285,707▼ 2.4%€422,259▲ 47.8%€535,380▲ 26.8%
Solvency77.1%above the sector's middle half▲ 3.9pp81.8%above the sector's middle half▲ 4.7pp82.1%above the sector's middle half▲ 0.3pp83.3%above the sector's middle half▲ 1.2pp87.5%above the sector's middle half▲ 4.2pp
Staff (FTE)2.4▼ 20.0%2.3within the sector's middle half▼ 4.2%2.8▲ 21.7%2.5▼ 10.7%2.3above the sector's middle half▼ 8.0%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 17% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €824,231
Fixed assets
€186,104 ▲ 45.3%
Current assets
€638,128 ▲ 19.8%
Equity and liabilities €824,231
Equity
€721,483 ▲ 31.1%
Debt
€102,748 ▼ 6.8%
Debt's share of the balance-sheet total falls from 16.7% to 12.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€293,098▼
2024 · €330,493
Cash flow
€210,495▼
2024 · €222,813
Current ratio
6.21▲
2024 · 4.83
Quick ratio
6.03▲
2024 · 4.68
Debt to equity
0.14▼
2024 · 0.20
ROE
23.7%▼
2024 · 35.7%
ROA
20.8%▼
2024 · 29.7%
Interest coverage
220.53▲
2024 · 149.88
Debt ≤ 1 year
€102,748▼
2024 · €110,200
Income taxes
€81,413▼
2024 · €104,813
Staff costs
€147,678▼
2024 · €156,527
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 31,324 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 | €120,567 | €129,496 | €154,080 | €156,527 | €147,678 | ▼ 5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,532 | €14,741 | €15,602 | €26,390 | €39,388 | ▲ 49.3% |
| Other operating charges640/8 | €1,799 | €1,560 | €1,675 | €5,180 | €9,055 | ▲ 74.8% |
| Non-recurring operating charges66A | - | - | - | - | €5,663 | - |
| Gross operating margin9900 | €206,604 | €188,781 | €197,976 | €492,199 | €455,494 | ▼ 7.5% |
| Operating profit (loss)9901 | €71,706 | €42,985 | €26,619 | €304,102 | €253,710 | ▼ 16.6% |
| Financial income75/76B | €0 | €311 | €4 | €240 | €139 | ▼ 41.9% |
| Recurring financial income75 | €0 | €11 | €4 | €240 | €139 | ▼ 41.9% |
| Non-recurring financial income76B | - | €300 | €0 | - | - | - |
| Financial charges65/66B | €1,576 | €2,642 | €1,502 | €3,107 | €1,329 | ▼ 57.2% |
| Recurring financial charges65 | €1,576 | €2,642 | €1,502 | €2,205 | €1,329 | ▼ 39.7% |
| Non-recurring financial charges66B | - | - | - | €902 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €70,130 | €40,654 | €25,122 | €301,235 | €252,520 | ▼ 16.2% |
| Income taxes67/77 | €17,970 | €12,380 | €9,040 | €104,813 | €81,413 | ▼ 22.3% |
| Profit (loss) for the period9904 | €52,160 | €28,273 | €16,082 | €196,423 | €171,107 | ▼ 12.9% |
| Profit (loss) for the period to be appropriated9905 | €52,160 | €28,273 | €16,082 | €196,423 | €171,107 | ▼ 12.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €401,783 | €413,163 | €431,120 | €660,576 | €824,231 | ▲ 24.8% |
| Fixed assets21/28 | €69,050 | €56,365 | €73,616 | €128,117 | €186,104 | ▲ 45.3% |
| Intangible fixed assets21 | €1,340 | €670 | €0 | - | - | - |
| Tangible fixed assets22/27 | €67,710 | €55,695 | €71,626 | €126,127 | €184,114 | ▲ 46.0% |
| Plant, machinery and equipment23 | €728 | €244 | €2,609 | €4,247 | €3,183 | ▼ 25.0% |
| Furniture and vehicles24 | €49,802 | €37,634 | €52,526 | €106,420 | €162,179 | ▲ 52.4% |
| Other tangible fixed assets26 | €17,181 | €17,817 | €16,491 | €15,460 | €18,751 | ▲ 21.3% |
| Financial fixed assets28 | - | - | €1,990 | €1,990 | €1,990 | = |
| Current assets29/58 | €332,732 | €356,798 | €357,504 | €532,459 | €638,128 | ▲ 19.8% |
| Stocks and contracts in progress3 | - | - | - | €16,926 | €18,278 | ▲ 8.0% |
| Stocks30/36 | - | - | - | €16,926 | €18,278 | ▲ 8.0% |
| Amounts receivable within one year40/41 | €223,805 | €244,124 | €221,020 | €319,789 | €216,795 | ▼ 32.2% |
| Trade receivables40 | €190,426 | €215,853 | €196,033 | €293,700 | €173,102 | ▼ 41.1% |
| Other amounts receivable41 | €33,379 | €28,271 | €24,986 | €26,089 | €43,693 | ▲ 67.5% |
| Cash at bank and in hand54/58 | €103,196 | €106,891 | €120,087 | €185,893 | €394,501 | ▲ 112% |
| Deferred charges and accrued income490/1 | €5,732 | €5,784 | €16,398 | €9,851 | €8,554 | ▼ 13.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €401,783 | €413,163 | €431,120 | €660,576 | €824,231 | ▲ 24.8% |
| Equity10/15 | €309,598 | €337,871 | €353,954 | €550,376 | €721,483 | ▲ 31.1% |
| Contributions10/11 | €6,200 | €6,200 | €8,060 | €8,060 | €8,060 | = |
| Reserves13 | €303,398 | €331,671 | €345,894 | €542,316 | €713,423 | ▲ 31.6% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €301,538 | €329,811 | €345,894 | €542,316 | €713,423 | ▲ 31.6% |
| Profit (loss) carried forward14 | €0 | €0 | - | - | - | - |
| Amounts payable17/49 | €92,185 | €75,292 | €77,167 | €110,200 | €102,748 | ▼ 6.8% |
| Amounts payable after more than one year17 | €16,857 | €11,151 | €5,369 | €0 | - | - |
| Financial debts170/4 | €16,857 | €11,151 | €5,369 | €0 | - | - |
| Amounts payable within one year42/48 | €75,328 | €64,140 | €71,798 | €110,200 | €102,748 | ▼ 6.8% |
| Current portion of amounts payable after more than one year42 | €5,629 | €5,705 | €5,782 | €5,369 | €0 | ▼ 100% |
| Trade debts44 | €26,748 | €49,178 | €62,049 | €35,834 | €36,289 | ▲ 1.3% |
| Suppliers440/4 | €26,748 | €49,178 | €62,049 | €35,834 | €36,289 | ▲ 1.3% |
| Taxes, remuneration and social security45 | €22,951 | €3,921 | €3,966 | €68,997 | €66,459 | ▼ 3.7% |
| Taxes450/3 | €20,049 | €0 | - | €66,199 | €66,459 | ▲ 0.4% |
| Remuneration and social security454/9 | €2,902 | €3,921 | €3,966 | €2,797 | €0 | ▼ 100% |
| Other amounts payable47/48 | €20,000 | €5,336 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52,160 | €28,273 | €16,082 | €196,423 | €171,107 | ▼ 12.9% |
| + Depreciation and write-downs630 | €12,532 | €14,741 | €15,602 | €26,390 | €39,388 | ▲ 49.3% |
| Operating cash flow (approximation) | €64,693 | €43,014 | €31,684 | €222,813 | €210,495 | ▼ 5.5% |
| Investment in fixed assets (approximation) | - | -€2,055 | -€32,853 | -€80,891 | -€97,375 | ▼ 20.4% |
| Change in cash | - | €3,695 | €13,196 | €65,806 | €208,607 | ▲ 217% |
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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Highest result since 2018net €196,423 ▲1,121%
Operating result €304,102, net result €196,423, both a record.
31-12
Financial
Equity above €500,000Eq €550,376 ▲55.5%
6 profitable years in a row build equity to €550,376.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
20-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 20 days late
2022
07-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 7 days late
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €200,000Eq €277,437 ▲71.3%
2 profitable years in a row build equity to €277,437.
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €86,400
Net result €86,400 after one loss-making year.
31-12
Financial
Equity above €150,000Eq €161,941 ▲69.5%
Equity rises from €95,541 to €161,941.
Show earlier events
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
2018
07-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Kasterlee · 1 establishment unit since 2002
Ground area
934 m²
Building footprint
134 m²
Volume, LiDAR
728 m³
Parcel 13018C0255/00D000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Poeleweg 65, 2460 Kasterlee
since 20022.114.597.624
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13018C0255/00D000 | Flanders | 934 m² | 1 · 134 m² | 7.9 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 3,191 EUR awarded · 3,191 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,146 EUR | 1,146 EUR |
| 2024 | 1 | 780 EUR | 780 EUR |
| 2023 | 1 | 545 EUR | 545 EUR |
| 2022 | 1 | 720 EUR | 720 EUR |
Recognitions · licences · registrations
Recognised contractor
2 categoriesADS BV29787
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Of 1,294 companies in sector 68122 we hold annual accounts for 903. 567 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
Founded14-10-2002
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
43222Installation of electric heating, air conditioning, cooling and ventilation
43211General electrical installation work
43990Other specialised construction activities
73110Advertising agencies
74120Graphic design and visual communication
74999Other professional, scientific and technical activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478563257
Registered
26-07-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.