ADV
ActiveSummary
ADV has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€82,604) and a net result of -€1,542. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 25% of 139 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▲+37
Solvency10▲+10
Growth58=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.87; short-term debt: 115.3% and cash: 1.8% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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 2025Solvency, return and age of the figures
Solvency
-15.3%
Return on assets
-0.3%
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 51
Relative position
BE, all sectors
reference
Air transport (NACE 51)
about 10% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€82,604
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
48 d early
2023
47 d early
2022
47 d early
2021
44 d early
2020
67 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 48 days before the deadline; the sector median for financial year 2024 is 10 days before the deadline, and 35% 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, micro schema
In the rankings
#3 oldest company in Belgium, Air transport sector
Equity
-€82,604▼ 1.9%
2024 · -€81,062
Total assets
€539,936▲ 138,573%
2024 · €389
Net result
-€1,542▲ 16.9%
2024 · -€1,856
Working capital
-€82,604▼ 1.9%
2024 · -€81,062
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 51, Air transport, 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-€1,109▼ 3.1%-€1,206▼ 8.8%-€2,664▼ 121%-€1,404▲ 47.3%-€1,089▲ 22.5%
Net result-€1,524within the sector's middle half▼ 9.3%-€1,653within the sector's middle half▼ 8.5%-€3,120within the sector's middle half▼ 88.7%-€1,856within the sector's middle half▲ 40.5%-€1,542within the sector's middle half▲ 16.9%
Equity-€74,433below the sector's middle half▼ 2.1%-€76,086below the sector's middle half▼ 2.2%-€79,206below the sector's middle half▼ 4.1%-€81,062below the sector's middle half▼ 2.3%-€82,604below the sector's middle half▼ 1.9%
Total assets€1,735below the sector's middle half▼ 19.3%€1,288below the sector's middle half▼ 25.8%€841below the sector's middle half▼ 34.7%€389below the sector's middle half▼ 53.7%€539,936above the sector's middle half▲ 138,573%
Debt€76,168▲ 1.5%€77,374▲ 1.6%€80,047▲ 3.5%€81,451▲ 1.8%€622,540▲ 664%
Working capital-€74,433▼ 2.1%-€76,086▼ 2.2%-€79,206▼ 4.1%-€81,062▼ 2.3%-€82,604▼ 1.9%
Solvency-15.3%within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 51, Air transport, 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
The operating result stays negative: a loss of €1,089 in 2025 against €1,404 in 2024; the loss shrinks.
Key figures and ratios
Current ratio
0.87
Quick ratio
0.02
Debt to equity
-7.54
ROA
-0.3%
Debt ≤ 1 year
€622,540▲
2024 · €81,451
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,242 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 93% are still going.
- Small
- 20 years or older
- negative equity
- a small loss
1.7%
went bankrupt
3.9%
stopped otherwise
93%
still going
A further 1.9% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 1,242 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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €348 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | -€762 | -€859 | -€2,280 | -€1,017 | -€689 | ▲ 32.3% |
| Operating profit (loss)9901 | -€1,109 | -€1,206 | -€2,664 | -€1,404 | -€1,089 | ▲ 22.5% |
| Financial charges65/66B | €415 | €447 | €456 | €452 | €453 | ▲ 0.3% |
| Recurring financial charges65 | €415 | €447 | €456 | €452 | €453 | ▲ 0.3% |
| Profit (loss) for the period before taxes9903 | -€1,524 | -€1,653 | -€3,120 | -€1,856 | -€1,542 | ▲ 16.9% |
| Profit (loss) for the period9904 | -€1,524 | -€1,653 | -€3,120 | -€1,856 | -€1,542 | ▲ 16.9% |
| Profit (loss) for the period to be appropriated9905 | -€1,524 | -€1,653 | -€3,120 | -€1,856 | -€1,542 | ▲ 16.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1,735 | €1,288 | €841 | €389 | €539,936 | ▲ 138,573% |
| Current assets29/58 | €1,735 | €1,288 | €841 | €389 | €539,936 | ▲ 138,573% |
| Stocks and contracts in progress3 | - | - | - | - | €530,000 | - |
| Stocks30/36 | - | - | - | - | €530,000 | - |
| Cash at bank and in hand54/58 | €1,735 | €1,288 | €841 | €389 | €9,936 | ▲ 2,452% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1,735 | €1,288 | €841 | €389 | €539,936 | ▲ 138,573% |
| Equity10/15 | -€74,433 | -€76,086 | -€79,206 | -€81,062 | -€82,604 | ▼ 1.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €5,818 | €5,818 | €2,697 | €841 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €0 | - | - | - |
| Distributable reserves133 | €3,958 | €3,958 | €2,697 | €841 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€98,850 | -€100,503 | -€100,503 | -€100,503 | -€101,204 | ▼ 0.7% |
| Amounts payable17/49 | €76,168 | €77,374 | €80,047 | €81,451 | €622,540 | ▲ 664% |
| Amounts payable within one year42/48 | €76,168 | €77,374 | €80,047 | €81,451 | €622,540 | ▲ 664% |
| Trade debts44 | - | - | - | - | €530,000 | - |
| Suppliers440/4 | - | - | - | - | €530,000 | - |
| Other amounts payable47/48 | €76,168 | €77,374 | €80,047 | €81,451 | €92,540 | ▲ 13.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,524 | -€1,653 | -€3,120 | -€1,856 | -€1,542 | ▲ 16.9% |
| Operating cash flow (approximation) | -€1,524 | -€1,653 | -€3,120 | -€1,856 | -€1,542 | ▲ 16.9% |
| Change in cash | - | -€447 | -€447 | -€452 | €9,547 | ▲ 2,215% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€3,120
Net result drops to -€3,120, the lowest in the series; recovery starts the following year.
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
17-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
21-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 21 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 24 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, Mouscron · 1 establishment unit since 1982
Ground area
2,250 m²
Building footprint
329 m²
Volume, LiDAR
876 m³
2 parcels, Wallonia · tallest building 31.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ADV
since 19822.021.299.361
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 54436A0258/00M000 | Wallonia | 1,200 m² | 1 · 237 m² | - |
| 54436A0160/00E003 | Wallonia | 1,050 m² | 1 · 92 m² | 31.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 452 companies in sector 51100 we hold annual accounts for 170. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-09-1982
Fiscal year end31-12
Activities, NACEBEL 2025
51100Air transport
52230Warehousing and support activities for transportation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0423229212
Also
9925:BE0423229212
Registered
06-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.