ADWORLD
ActiveSummary
ADWORLD has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-69k) and a net result of €-16k. Equity is shrinking by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 5% of 37953 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-5
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.12 against 0.46 in 2023; short-term debt: 741.9% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises 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 →
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 2024Solvency, return and age of the figures
Return on assets
-247.9%
Age of the figures
21 mo
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 · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-69k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 27-08-2025, 27 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
27 d late
2023
26 d late
2022
16 d late
2021
18 d late
2020
25 d late
2019
20 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-69k▼ 30.6%
2023 · €-53k
2018: €-38khighest in 7 years
2019: €-45k▼ -17.5% vs 2018
2020: €-52k▼ -14.4% vs 2019
2021: €-57k▼ -11.1% vs 2020
2022: €-59k▼ -2.8% vs 2021
2023: €-53k▲ +10.9% vs 2022
2024: €-69k▼ -30.6% vs 2023lowest in 7 years
2018 → 2024
Total assets
€6k▼ 73.5%
2023 · €24k
2018: €12k
2019: €11k▼ -9.0% vs 2018
2020: €14k▲ +30.7% vs 2019
2021: €18k▲ +27.4% vs 2020
2022: €17k▼ -4.9% vs 2021
2023: €24k▲ +42.1% vs 2022highest in 7 years
2024: €6k▼ -73.5% vs 2023lowest in 7 years
2018 → 2024
Net result
€-16k▼ 355%
2023 · €-4k
2018: €-4k
2019: €-7k▼ -90.7% vs 2018
2020: €-7k▲ +2.9% vs 2019
2021: €-6k▲ +12.3% vs 2020
2022: €-2k▲ +72.3% vs 2021highest in 7 years
2023: €-4k▼ -123% vs 2022
2024: €-16k▼ -355% vs 2023lowest in 7 years
2018 → 2024
Working capital
€-42k▼ 56.2%
2023 · €-27k
2018: €-26khighest in 7 years
2019: €-31k▼ -19.3% vs 2018
2020: €-34k▼ -11.5% vs 2019
2021: €-37k▼ -6.7% vs 2020
2022: €-35k▲ +4.4% vs 2021
2023: €-27k▲ +22.7% vs 2022
2024: €-42k▼ -56.2% vs 2023lowest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-52k-€-57k▼ 11.1%€-59k▼ 2.8%€-53k▲ 10.9%€-69k▼ 30.6%
2020: €-52khighest in 5 years
2021: €-57k▼ -11.1% vs 2020
2022: €-59k▼ -2.8% vs 2021
2023: €-53k▲ +10.9% vs 2022
2024: €-69k▼ -30.6% vs 2023lowest in 5 years
Operating result€-1k-€-563▲ 58.7%€6k€4k▼ 33.1%€-15k
2020: €-1k
2021: €-563▲ +58.7% vs 2020
2022: €6k▲ +1195% vs 2021highest in 5 years
2023: €4k▼ -33.1% vs 2022
2024: €-15k▼ -457% vs 2023lowest in 5 years
Net result€-7k-€-6k▲ 12.3%€-2k▲ 72.3%€-4k▼ 123%€-16k▼ 355%
2020: €-7k
2021: €-6k▲ +12.3% vs 2020
2022: €-2k▲ +72.3% vs 2021highest in 5 years
2023: €-4k▼ -123% vs 2022
2024: €-16k▼ -355% vs 2023lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €15k after €4k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6k
Fixed assets
€481 =
Current assets
€6k ▼ 73.9%
Key figures and ratios
EBITDA
€-14k▼
2023 · €4k
Cash flow
€-15k▼
2023 · €-3k
Current ratio
0.12▼
2023 · 0.46
Debt to equity
-1.09▲
2023 · -1.47
ROA
-247.9%▼
2023 · -14.5%
Interest coverage
-10.34▼
2023 · 0.58
Debt
€75k▼
2023 · €77k
Debt ≤ 1 year
€48k▼
2023 · €50k
A ratio outside any meaningful range has been withheld (balance sheet total €6k, equity €-69k).
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 · 2024 against 2023 · 38 lines
Balance sheet
Code20232024
Assets
Total assets20/58€24k€6k▼
Formation expenses20€922-
Fixed assets21/28€481€481=
Financial fixed assets28€481€481=
Current assets29/58€23k€6k▼
Stocks and contracts in progress3€15k-
Stocks30/36€15k-
Amounts receivable within one year40/41€6k€4k▼
Trade receivables40€5k€4k▼
Other amounts receivable41€550€365▼
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€24k€6k▼
Equity10/15€-53k€-69k▼
Contributions10/11€28k€28k=
Profit (loss) carried forward14€-81k€-97k▼
Amounts payable17/49€77k€75k▼
Amounts payable within one year42/48€50k€48k▼
Financial debts43€1k€5k▲
Credit institutions430/8€1k€5k▲
Trade debts44€18k€13k▼
Suppliers440/4€18k€13k▼
Taxes, remuneration and social security45€343€127▼
Taxes450/3€343€127▼
Other amounts payable47/48€31k€30k▼
Accrued charges and deferred income492/3€27k€27k=
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€298€922▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€6k€-12k▼
Operating profit (loss)9901€4k€-15k▼
Financial income75/76B€24-
Recurring financial income75€24-
Financial charges65/66B€8k€1k▼
Recurring financial charges65€8k€1k▼
Profit (loss) for the period before taxes9903€-4k€-16k▼
Profit (loss) for the period9904€-4k€-16k▼
Profit (loss) for the period to be appropriated9905€-4k€-16k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-81k€-97k▼
Profit (loss) brought forward from the previous period14P€-77k€-81k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €298 | €922 | ▲ 209% |
| Other operating charges640/8 | - | €3k | €2k | €2k | €2k | ▼ 10.5% |
| Gross operating margin9900 | €3k | €2k | €9k | €6k | €-12k | ▼ 294% |
| Operating profit (loss)9901 | €-1k | €-563 | €6k | €4k | €-15k | ▼ 457% |
| Financial income75/76B | - | €125 | - | €24 | - | - |
| Recurring financial income75 | €17 | €125 | - | €24 | - | - |
| Financial charges65/66B | - | €5k | €8k | €8k | €1k | ▼ 82.6% |
| Recurring financial charges65 | €5k | €5k | €8k | €8k | €1k | ▼ 82.6% |
| Profit (loss) for the period before taxes9903 | €-6k | €-6k | €-2k | €-4k | €-16k | ▼ 355% |
| Income taxes67/77 | €116 | €107 | - | - | - | - |
| Profit (loss) for the period9904 | €-7k | €-6k | €-2k | €-4k | €-16k | ▼ 355% |
| Profit (loss) for the period to be appropriated9905 | €-7k | €-6k | €-2k | €-4k | €-16k | ▼ 355% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €14k | €18k | €17k | €24k | €6k | ▼ 73.5% |
| Formation expenses20 | - | - | - | €922 | - | - |
| Fixed assets21/28 | €481 | €481 | €481 | €481 | €481 | = |
| Financial fixed assets28 | €481 | €481 | €481 | €481 | €481 | = |
| Current assets29/58 | €14k | €18k | €17k | €23k | €6k | ▼ 73.9% |
| Stocks and contracts in progress3 | €6k | €6k | €12k | €15k | - | - |
| Stocks30/36 | - | €6k | €12k | €15k | - | - |
| Amounts receivable within one year40/41 | €4k | €7k | €5k | €6k | €4k | ▼ 23.3% |
| Trade receivables40 | - | €7k | €5k | €5k | €4k | ▼ 22.2% |
| Other amounts receivable41 | - | - | €39 | €550 | €365 | ▼ 33.6% |
| Deferred charges and accrued income490/1 | - | €5k | €250 | €3k | €2k | ▼ 34.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €14k | €18k | €17k | €24k | €6k | ▼ 73.5% |
| Equity10/15 | €-52k | €-57k | €-59k | €-53k | €-69k | ▼ 30.6% |
| Contributions10/11 | - | €18k | €18k | €28k | €28k | = |
| Profit (loss) carried forward14 | €-70k | €-76k | €-77k | €-81k | €-97k | ▼ 19.9% |
| Amounts payable17/49 | €66k | €76k | €76k | €77k | €75k | ▼ 2.5% |
| Amounts payable within one year42/48 | €48k | €54k | €52k | €50k | €48k | ▼ 3.8% |
| Financial debts43 | - | €5k | €4k | €1k | €5k | ▲ 317% |
| Credit institutions430/8 | - | €5k | €4k | €1k | €5k | ▲ 317% |
| Trade debts44 | €21k | €22k | €16k | €18k | €13k | ▼ 26.1% |
| Suppliers440/4 | - | €22k | €16k | €18k | €13k | ▼ 26.1% |
| Taxes, remuneration and social security45 | - | €1k | €1k | €343 | €127 | ▼ 63.0% |
| Taxes450/3 | - | €1k | €1k | €343 | €127 | ▼ 63.0% |
| Other amounts payable47/48 | - | €26k | €30k | €31k | €30k | ▼ 2.7% |
| Accrued charges and deferred income492/3 | - | €21k | €25k | €27k | €27k | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-7k | €-6k | €-2k | €-4k | €-16k | ▼ 355% |
| + Depreciation and write-downs630 | - | - | - | €298 | €922 | ▲ 209% |
| Operating cash flow (approximation) | €-7k | €-6k | €-2k | €-3k | €-15k | ▼ 368% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-298 | €-922 | ▼ 209% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet €-16k
Net result drops to €-16k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
18-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 18 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 20 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 6 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Elsene · 1 establishment unit since 2010
Ground area
1,218 m²
Building footprint
1,221 m²
Volume, LiDAR
17,976 m³
Parcel 21822R0227/00T003, Brussels · tallest building 32.8 m, ±2 floors. Linked by address, not a title deed.
180
companies at this address
See who is registered here
1 establishment unit
ADworld
since 20102.190.668.190
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21822R0227/00T003 | Brussels | 1,218 m² | 1 · 1,221 m² | 32.8 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.
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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 82,553 companies in sector 70200 we hold annual accounts for 52,585. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded17-08-2010
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
46190Agents in non-specialised wholesale trade
47120Other non-specialised retail sale
73300Public relations and communication consultancy
Scores and ratios are computed by Checked and are not a credit decision.