ASD-CERT
ActiveSummary
ASD-CERT has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €439,247 and a net result of -€33,963. Equity is growing by ~13.9% per year across the filed fiscal years. Its solvency ranks better than 42% of 9537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability14▼-63
Solvency71▼-6
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity tight (current ratio 1.41 against 1.56 in 2024; short-term debt: 53.6% and cash: 56.5% of total assets), and 53.9% of the assets are financed with debt.
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Signals
Five 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 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% 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
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
11 d late
2023
9 d early
2022
10 d early
2021
37 d early
2020
2 d early
2019
22 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 10 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€33,963
2024 · €62,058
Working capital
€210,319▼ 13.3%
2024 · €242,638
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€54,995▼ 8.2%€31,754▼ 42.3%€61,589▲ 94.0%€58,589▼ 4.9%-€35,180
Net result€54,642▼ 8.5%€31,620▼ 42.1%€62,335▲ 97.1%€62,058▼ 0.4%-€33,963
Equity€317,197▲ 20.8%€348,817▲ 10.0%€411,152▲ 17.9%€473,210▲ 15.1%€439,247▼ 7.2%
Total assets€699,328▲ 5.9%€817,628▲ 16.9%€852,142▲ 4.2%€905,125▲ 6.2%€953,472▲ 5.3%
Debt€382,132▼ 4.0%€468,811▲ 22.7%€440,990▼ 5.9%€431,915▼ 2.1%€514,225▲ 19.1%
Working capital€283,051▲ 21.4%€315,997▲ 11.6%€381,801▲ 20.8%€242,638▼ 36.4%€210,319▼ 13.3%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €35,180 after €58,589 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €953,472
Fixed assets
€232,150 ▲ 0.7%
Current assets
€721,322 ▲ 6.9%
Equity and liabilities €953,472
Equity
€439,247 ▼ 7.2%
Debt
€514,225 ▲ 19.1%
Debt's share of the balance-sheet total rises from 47.7% to 53.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€21,107▼
2024 · €73,006
Cash flow
-€19,891▼
2024 · €76,474
Current ratio
1.41▼
2024 · 1.56
Quick ratio
1.39▼
2024 · 1.54
Debt to equity
1.17▲
2024 · 0.91
ROE
-7.7%▼
2024 · 13.1%
ROA
-3.6%▼
2024 · 6.9%
Interest coverage
-6.70▼
2024 · 25.61
Debt ≤ 1 year
€511,004▲
2024 · €431,915
Income taxes
€588▼
2024 · €839
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 8,594 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
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 8,594 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,055 | €18,610 | €21,468 | €14,416 | €14,072 | ▼ 2.4% |
| Other operating charges640/8 | €23 | - | - | - | - | - |
| Gross operating margin9900 | €68,072 | €50,364 | €83,057 | €73,006 | -€21,107 | ▼ 129% |
| Operating profit (loss)9901 | €54,995 | €31,754 | €61,589 | €58,589 | -€35,180 | ▼ 160% |
| Financial income75/76B | €152 | €0 | €4,283 | €7,158 | €4,956 | ▼ 30.8% |
| Recurring financial income75 | €152 | €0 | €4,283 | €7,158 | €4,956 | ▼ 30.8% |
| Financial charges65/66B | €505 | €135 | €3,120 | €2,851 | €3,152 | ▲ 10.6% |
| Recurring financial charges65 | €505 | €135 | €3,120 | €2,851 | €3,152 | ▲ 10.6% |
| Profit (loss) for the period before taxes9903 | €54,642 | €31,620 | €62,751 | €62,897 | -€33,375 | ▼ 153% |
| Income taxes67/77 | - | - | €415 | €839 | €588 | ▼ 30.0% |
| Profit (loss) for the period9904 | €54,642 | €31,620 | €62,335 | €62,058 | -€33,963 | ▼ 155% |
| Profit (loss) for the period to be appropriated9905 | €54,642 | €31,620 | €62,335 | €62,058 | -€33,963 | ▼ 155% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €699,328 | €817,628 | €852,142 | €905,125 | €953,472 | ▲ 5.3% |
| Fixed assets21/28 | €34,145 | €32,820 | €29,351 | €230,573 | €232,150 | ▲ 0.7% |
| Intangible fixed assets21 | €34,055 | €32,730 | €29,261 | €30,483 | €32,060 | ▲ 5.2% |
| Financial fixed assets28 | €90 | €90 | €90 | €200,090 | €200,090 | = |
| Current assets29/58 | €665,183 | €784,808 | €822,791 | €674,553 | €721,322 | ▲ 6.9% |
| Stocks and contracts in progress3 | €14,988 | €14,988 | - | €8,788 | €8,788 | = |
| Contracts in progress37 | €14,988 | €14,988 | - | €8,788 | €8,788 | = |
| Amounts receivable within one year40/41 | €10,750 | €26,362 | €97,152 | €76,507 | €64,871 | ▼ 15.2% |
| Trade receivables40 | €10,025 | €24,164 | €93,480 | €70,512 | €28,617 | ▼ 59.4% |
| Other amounts receivable41 | €725 | €2,198 | €3,673 | €5,995 | €36,254 | ▲ 505% |
| Cash at bank and in hand54/58 | €567,149 | €638,743 | €610,865 | €497,762 | €538,286 | ▲ 8.1% |
| Deferred charges and accrued income490/1 | €72,296 | €104,715 | €114,774 | €91,496 | €109,378 | ▲ 19.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €699,328 | €817,628 | €852,142 | €905,125 | €953,472 | ▲ 5.3% |
| Equity10/15 | €317,197 | €348,817 | €411,152 | €473,210 | €439,247 | ▼ 7.2% |
| Profit (loss) carried forward14 | €317,197 | €348,817 | €411,152 | €473,210 | €439,247 | ▼ 7.2% |
| Amounts payable17/49 | €382,132 | €468,811 | €440,990 | €431,915 | €514,225 | ▲ 19.1% |
| Amounts payable within one year42/48 | €382,132 | €468,811 | €440,990 | €431,915 | €511,004 | ▲ 18.3% |
| Trade debts44 | €182,569 | €220,407 | €233,997 | €262,329 | €254,012 | ▼ 3.2% |
| Suppliers440/4 | €182,569 | €220,407 | €233,997 | €262,329 | €254,012 | ▼ 3.2% |
| Advances received on contracts in progress46 | €199,563 | €248,404 | €206,994 | €169,586 | €227,919 | ▲ 34.4% |
| Taxes, remuneration and social security45 | - | - | - | - | €29,072 | - |
| Taxes450/3 | - | - | - | - | €29,072 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €3,222 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,642 | €31,620 | €62,335 | €62,058 | -€33,963 | ▼ 155% |
| + Depreciation and write-downs630 | €13,055 | €18,610 | €21,468 | €14,416 | €14,072 | ▼ 2.4% |
| Operating cash flow (approximation) | €67,697 | €50,230 | €83,804 | €76,474 | -€19,891 | ▼ 126% |
| Investment in fixed assets (approximation) | - | -€17,284 | -€18,000 | -€215,637 | -€15,650 | ▲ 92.7% |
| Change in cash | - | €71,594 | -€27,879 | -€113,103 | €40,524 | ▲ 136% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
20-03
State Gazette act
Resignations: Caroline Estève, Cherif Khelil and 3 othersReappointments: Boris Quase (director) and Piero Visconti (director) · Appointments: Boris Quase, Piero Visconti and 3 others15 facts ▸
State Gazette act
Resignations: Caroline Estève, Cherif Khelil and 3 others
Reappointments: Boris Quase (director) and Piero Visconti (director) · Appointments: Boris Quase, Piero Visconti and 3 others15 facts ▸
- General meeting, 18/06/2025
- Director resignation, Caroline Estève (director)
- Director resignation, Cherif Khelil (director)
- Director resignation, Boris Quase (director)
- Director resignation, Piero Visconti (director)
- Director reappointment, Boris Quase (director)
- Director appointment, Boris Quase (chair)
- Director reappointment, Piero Visconti (director)
- Director appointment, Piero Visconti (vice-chair)
- Director appointment, Jonathan Robieux (director)
- Director appointment, Jonathan Robieux (directeur qualité)
- General meeting, 10/10/2025
- +3 further facts in this act
2025
31-12
Financial
Weakest financial yearnet -€33,963
Net result drops to -€33,963, the lowest in the series.
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
22-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €62,335 ▲97.1%
Operating result €61,589, net result €62,335, both a record.
21-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €59,748
Net result €59,748 after one loss-making year.
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
10-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 132 days late
2017
19-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 11 acts read
About the unread acts
Of the 11 Belgian State Gazette acts we know for this company, 1 has been read. The other 10 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26039807). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 4
Boris Quase
CurrentChair · since 18-06-2025 · Director · since 18-06-2025
Steffen Ohde
CurrentPrésident du comité technique electrique et optique · since 20-03-2026
Piero Visconti
CurrentVice-chair · since 18-06-2025 · Director · since 18-06-2025
Jonathan Robieux
CurrentDirector · since 18-06-2025
Day-to-day management 1
Christelle Festaud
CurrentDay-to-day manager · since 20-03-2026
Other functions 2
Steffen Ohde
CurrentPrésident du comité technique electrique et optique · since 20-03-2026
Jonathan Robieux
CurrentDirecteur qualité · since 18-06-2025
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
10 of this company's 11 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Brussel
Ground area
1,740 m²
Building footprint
1,742 m²
Volume, LiDAR
36,451 m³
Parcel 21806F0369/00H002, Brussels · tallest building 34.0 m, ±9 floors. Linked by address, not a title deed.
166
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21806F0369/00H002 | Brussels | 1,740 m² | 1 · 1,742 m² | 34.0 m · 9 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.
Mandate history
8 people since 2025, 5 in office
- Board
- Day-to-day management
- Other function
- began earlier
| Name | Functions and periods |
|---|---|
| Boris Quase |
|
| Jonathan Robieux |
|
| Piero Visconti |
|
| Steffen Ohde |
|
| Christelle Festaud |
|
| Philip Edwards |
|
| Caroline Estève |
|
| Cherif Khelil |
|
Structure & network
Connections & network
5 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,563. 4,560 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formInt'l non-profit association
Founded14-01-1999
Fiscal year end31-12
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
Contact
Website
www.asd-cert.org
E-mail
secretariat.general@asd-cert.org
E-invoicing
Reachable via Peppol
Peppol ID
0208:0464967916
Registered
30-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.