ASDEV Management
ActiveSummary
ASDEV Management has been active since 2021 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €48,705 and a net result of €52,284. Equity has been shrinking by about 91% per year since 2023. If that trend continues, it turns negative around financial year 2027. Its solvency ranks better than 32% of 39,275 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 01-02-2021 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 1 other
- Establishment unit
- 2.312.959.060 2540 Hove, since 01-02-2021
- Financial year end
- 31 December
- Peppol
- Reachable since 07-12-2025
Board and ownership
Last known board
- DE RUYTTER Hervé Thomas Marie Joseph GhislainDirector · until 2023
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
Annual accounts 2025
- Gross margin
- €74,055
- ▲ 52.7%
- Turnover
- ≈ €150,000
- estimated
- Profit
- €52,284
- ▲ 51.8%
- Equity
- €48,705
- ▲ 0.6%
- Total assets
- €147,916
- ▼ 10.7%
Score breakdownlowers riskSector: Activities of head offices; management consultancy activities (NACE 70)Liquidity: current ratio 1.51, cash €142,157Size: total assets €147,916Figures for financial year 2025 (filed on 23-06-2026)Show the evidence
Checked score
Score 2025
94
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 54% of micro companies in head offices and management consultancy (NACE 70)
Financial strength · tick: 2024
Strong
Solvency
58+4
equity 32.9% of total assets
Liquidity
66+4
short-term debt 65.1% · cash 96.1%
Profitability
100+5
return on assets 35.3%
Bankruptcy probability within 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026
06-2026: < 0.1%● unchanged vs 05-2026highest value
07-2026: < 0.1%● unchanged vs 06-2026
08-2026: < 0.1%● unchanged vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Credit of up to €4,500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.51 (1.41 in 2024), above the usual 1.5. Short-term debt is 65.1% and cash 96.1% of total assets. However, 67.1% of the assets are financed with debt and provisions.
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 (NACE 70, micro). It does better than 33% of them on solvency, 58% on liquidity, 84% on profitability and 43% on growth.
The bankruptcy probability was computed on 03-11-2026 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
Five signals.
lowers riskneutral
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 23-06-2026, 38 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
38 days early
2024
38 days early
2023
33 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 36 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 23 June (3 of the last 3 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 3 filings
Turnover
≈ €150,000
Estimated: probably between €110,000 and €190,000
Total assets
€147,916▼ 10.7%
2024 · €165,648
Net result
€52,284▲ 51.8%
2024 · €34,444
Working capital
€48,985▲ 3.1%
2024 · €47,513
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€71,735
▲ 54.4%
2025
20232025
Net result
€52,284
▲ 51.8%
2025
middle half of the sector
20232025
Equity
€48,705
▲ 0.6%
2025
middle half of the sector
20232025
Total assets
€147,916
▼ 10.7%
2025
middle half of the sector
20232025
Debt
€99,211
▼ 15.4%
2025
20232025
Working capital
€48,985
▲ 3.1%
2025
middle half of the sector
20232025
Solvency
32.9%
▲ 3.7pp
2025
middle half of the sector
20232025
Current ratio
1.51
▲ 0.10
2025
middle half of the sector
20232025
Return on assets (ROA)
35.3%
▲ 14.6pp
2025
highest quarter of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€116,173-€46,460▼ 60.0%€71,735▲ 54.4%
Net result€89,297above the sector's middle half-€34,444within the sector's middle half▼ 61.4%€52,284within the sector's middle half▲ 51.8%
Equity€137,476within the sector's middle half-€48,420within the sector's middle half▼ 64.8%€48,705within the sector's middle half▲ 0.6%
Total assets€161,988within the sector's middle half-€165,648within the sector's middle half▲ 2.3%€147,916within the sector's middle half▼ 10.7%
Debt€24,513-€117,228▲ 378%€99,211▼ 15.4%
Working capital€135,968within the sector's middle half-€47,513within the sector's middle half▼ 65.1%€48,985within the sector's middle half▲ 3.1%
Solvency84.9%above the sector's middle half-29.2%within the sector's middle half▼ 55.6pp32.9%within the sector's middle half▲ 3.7pp
Current ratio6.55above the sector's middle half-1.41within the sector's middle half▼ 5.141.51within the sector's middle half▲ 0.10
Return on assets (ROA)55.1%above the sector's middle half-20.8%within the sector's middle half▼ 34.3pp35.3%above the sector's middle half▲ 14.6pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 54% higher than in 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €147,916
Fixed assets
€2,610 ▲ 188%
Current assets
€145,305 ▼ 11.8%
Equity and liabilities €147,916
Equity
€48,705 ▲ 0.6%
Debt
€99,211 ▼ 15.4%
Debt's share of the balance-sheet total falls from 70.8% to 67.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€72,590▲
2024 · €47,061
Cash flow
€53,139▲
2024 · €35,045
Debt to equity
2.04▼
2024 · 2.42
ROE
107.3%▲
2024 · 71.1%
Interest coverage
17.28▼
2024 · 27.74
Debt ≤ 1 year
€96,320▼
2024 · €117,228
Income taxes
€15,250▲
2024 · €10,320
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | - | €3,010 |
| Depreciation and write-downs of the year | €601 | €601 | €855 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | €6,557 | - | €49 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €601 | €601 | €855 | ▲ 42.3% |
| Other operating charges640/8 | €1,848 | €1,430 | €1,465 | ▲ 2.4% |
| Gross operating margin9900 | €118,623 | €48,491 | €74,055 | ▲ 52.7% |
| Operating profit (loss)9901 | €116,173 | €46,460 | €71,735 | ▲ 54.4% |
| Financial income75/76B | - | €1 | - | - |
| Recurring financial income75 | - | €1 | - | - |
| Financial charges65/66B | €1,672 | €1,696 | €4,201 | ▲ 148% |
| Recurring financial charges65 | €1,672 | €1,696 | €4,201 | ▲ 148% |
| Profit (loss) for the period before taxes9903 | €114,501 | €44,764 | €67,534 | ▲ 50.9% |
| Income taxes67/77 | €25,204 | €10,320 | €15,250 | ▲ 47.8% |
| Profit (loss) for the period9904 | €89,297 | €34,444 | €52,284 | ▲ 51.8% |
| Profit (loss) for the period to be appropriated9905 | €89,297 | €34,444 | €52,284 | ▲ 51.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €161,988 | €165,648 | €147,916 | ▼ 10.7% |
| Fixed assets21/28 | €1,508 | €907 | €2,610 | ▲ 188% |
| Tangible fixed assets22/27 | €1,508 | €907 | €2,610 | ▲ 188% |
| Furniture and vehicles24 | €747 | €451 | €2,460 | ▲ 445% |
| Other tangible fixed assets26 | €761 | €455 | €150 | ▼ 67.1% |
| Current assets29/58 | €160,481 | €164,741 | €145,305 | ▼ 11.8% |
| Amounts receivable within one year40/41 | €48,302 | €13,730 | €3,148 | ▼ 77.1% |
| Trade receivables40 | €48,302 | €8,896 | €3,148 | ▼ 64.6% |
| Other amounts receivable41 | - | €4,834 | - | - |
| Cash at bank and in hand54/58 | €112,179 | €151,011 | €142,157 | ▼ 5.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €161,988 | €165,648 | €147,916 | ▼ 10.7% |
| Equity10/15 | €137,476 | €48,420 | €48,705 | ▲ 0.6% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €134,170 | €45,170 | €45,170 | = |
| Distributable reserves133 | €134,170 | €45,170 | €45,170 | = |
| Profit (loss) carried forward14 | €306 | €250 | €535 | ▲ 114% |
| Amounts payable17/49 | €24,513 | €117,228 | €99,211 | ▼ 15.4% |
| Amounts payable within one year42/48 | €24,513 | €117,228 | €96,320 | ▼ 17.8% |
| Trade debts44 | €3,309 | - | €958 | - |
| Suppliers440/4 | €3,309 | - | €958 | - |
| Taxes, remuneration and social security45 | €17,255 | €2,000 | €10,113 | ▲ 406% |
| Taxes450/3 | €17,255 | €2,000 | €10,113 | ▲ 406% |
| Other amounts payable47/48 | €3,949 | €115,228 | €85,248 | ▼ 26.0% |
| Accrued charges and deferred income492/3 | - | - | €2,891 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €89,297 | €34,444 | €52,284 | ▲ 51.8% |
| + Depreciation and write-downs630 | €601 | €601 | €855 | ▲ 42.3% |
| Operating cash flow (approximation) | €89,898 | €35,045 | €53,139 | ▲ 51.6% |
| Investment in fixed assets (approximation) | - | €0 | -€2,558 | - |
| Change in cash | - | €38,832 | -€8,854 | - |
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, 26,972 companies had the same profile as ASDEV Management has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ASDEV Management itself is lower: < 0.1% within 12 months. It rests on far more data about ASDEV Management 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 26,972 companies, not a prediction for ASDEV Management. 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.
Board & ownership
Directors
Directors
Last change in 2023
Owners and capital
Shareholders
Stated in the act
act of 07-08-2023 ↗
- DE RUYTTER Hervé Thomas Marie Joseph Ghislain gecommanditeerde vennoot · all shares
- ALEXANDER Sophie Anne Yvette Marie commanditaire vennoot
Capital transactions
Capital over time
- 07-08-2023 Capital stated in the deed · €3,000 · 100 shares
Mandate history
1 person, 0 in office
- Board
| Name | Functions and periods |
|---|---|
| DE RUYTTER Hervé Thomas Marie Joseph Ghislain |
|
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one.
- No statutory auditor
Articles of association, deed of 07-08-2023 (in Dutch)
Network & group
Connections & network
See the function holders in the KBO register.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
23-06
micro format · 38 days before the deadline
2025
23-06
micro format · 38 days before the deadline
2024
31-12
Financial
Weakest financial yearnet €34,444 ▼61.4%
The net result drops to €34,444, the lowest from 2023 to 2025. It recovers the following year.
28-06
micro format · 33 days before the deadline
2023
07-08
Gazette deed
Change of role: DE RUYTTER Hervé Thomas Marie Joseph Ghislain, from manager to directorPartner · Auditor report · Legal-form conversion27 points ▸
Gazette deed
Change of role: DE RUYTTER Hervé Thomas Marie Joseph Ghislain, from manager to director
Partner · Auditor report · Legal-form conversion27 points ▸
- General meeting, 28-06-2023
- Other provision, “statutenwijziging na oprichting” (deed in Dutch)
- Partner, DE RUYTTER Hervé Thomas Marie Joseph Ghislain (general partner)
- Partner, ALEXANDER Sophie Anne Yvette Marie (limited partner)
- Other provision, “huwelijkse voorwaarden, wettelijk stelsel bij gebrek aan huwelijkscontract” (deed in Dutch)
- Other provision, “aangehechte onderhandse volmacht door medevennoot, vertegenwoordiging ter vergadering” (deed in Dutch)
- Auditor report, “enkel voor geplande omzetting, griffie bevoegde ondernemingsrechtbank per artikel 14:10” (deed in Dutch)
- Other provision, “kennisname toelichting voorstel tot omzetting, verslag zaakvoerder met staat van activa en passiva” (deed in Dutch)
- Other provision, “verzaken formaliteiten en termijnen toezending, beide vennoten” (deed in Dutch)
- Legal-form conversion, “besloten vennootschap” (deed in Dutch)
- Director resignation, DE RUYTTER Hervé Thomas Marie Joseph Ghislain (manager)
- Director discharge, DE RUYTTER Hervé Thomas Marie Joseph Ghislain
- The act holds 15 more points.
2021
03-02
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
ASDEV Management in Dutch
Enterprise number
0762.771.277
Legal form
Private limited company
Status
Active, normale toestand
Founded
01-02-2021
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 07-08-2023 (in Dutch)Name clauseThe company operates under this name according to its articles.
ASDEV Management
deed of 07-08-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, openbaarmaking door neerlegging uittreksel besluit bestuursorgaan voor publicatie in bijlagen bij Belgisch Staatsblad en…”
deed of 07-08-2023 (in Dutch)Registered office and establishments
Registered office
Bollebeke 2, 2540 Hove, Belgium
Establishment unit
ASDEV Management, Bollebeke 2, 2540 Hove since 01-02-2021 · unit number 2.312.959.060
Activities
NACEBEL 202570200
Business and other management consultancy main activity
73300
Public relations and communication consultancy
Codes under NACEBEL 2008
70220
Business consulting main activity
70210
Activities of head offices; management consultancy activities
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 07-08-2023 (in Dutch)
“Het uitoefenen van management-,consulting- en beheersactiviteiten,waaronder begrepen:het uitoefenen van managementfuncties in diverse…”
21 activities
- Het uitoefenen van management-,consulting- en beheersactiviteiten,waaronder begrepen:het uitoefenen van managementfuncties in diverse ondernemingen,het sluiten van consulting overeenkomsten en het uitoefenen van consultingsfuncties op onafhankelijke wijze
- Het uitdenken,ontwerpen,kopen,realiseren,integreren of produceren en op de markt brengen van projecten en producten op het gebied van industrieel ontwerp,grafisch ontwerp en informatica-,informatie-,en communicatietechnologie
- Het verkrijgen,uitbaten of afstaan van alle octrooien,merken,licenties en intellectuele rechten
- Het ontwikkelen,kopen,verkopen,in licentie nemen,of geven van octrooien,knowhow en aanverwante immateriële duurzame activa
- Het verstrekken van studie,raadgevende en commerciële diensten inzake management,projecten,marketing en strategie aan derden
- Het initiëren van contacten met autoriteiten-,administraties,distributiekanalen en marketingorganisaties om die activiteiten optimaal te laten verlopen
- Alle activiteiten die verband houden met het professioneel lanceren,adviseren,beheren,coördineren,coachen,ondersteunen of promoten van projecten en projectmatige activiteiten in de specifieke voormelde sectoren
- Het contacteren van eventuele klanten voor kleine en middelgrote ondernemingen
- Het uitoefenen van mediaconsulting en mediarepresentatie
- Alle activiteiten die verband houden met het professioneel lanceren,adviseren,beheren,coördineren,coachen,ondersteunen of promoten van projecten en projectmatige activiteiten in diverse sectoren en meer bepaald in de projectontwikkeling die betrekking heeft op de gehele of gedeeltelijke uitvoering van bouw-,bouwvoltooiingswerken en renovatiewerken,dit alles in de ruimste zin van het woord,zowel in binnen-als in buitenland
- Bemiddeling bij de aankoop,verkoop en verhuur van onroerend goed voor een vast bedrag of op contractbasis
- Ontwerpen en voeren van reclame-en promotiecampagnes voor derden via de verschillende media
- Concipiëren van reclametechnieken die ernaar streven de individuele consument te benaderen(direct marketing)door middel van geadresseerde reclame(direct mailing),telefonische koopvoorstellen,enz.
- Reclamebureaus
- Markt-en opinieonderzoekbureaus
- Onderzoek naar de omvang van de markt voor bepaalde producten,de ontvangst en de bekendheid van producten en koopgewoonten,met het oog op verkoopbevordering en ontwikkeling van nieuwe producten
- Het verlenen van diensten,consultancy,bijstand,coaching,training,advies en leiding aan bedrijven,privé personen en instellingen,voornamelijk op het vlak van management,strategie,marketing,communicatie,verkoop,business development,onderzoek,productie,ontwikkeling op juridisch,financieel,technisch en/of administratief gebied
- Het uitoefenen van de activiteit van projectmanagement en meer bepaald het ontwikkelen,begeleiden,ondersteunen en bevorderen van projecten van ondernemingen die kunnen bijdragen tot een studie-,organisatie-,raadgevend bureau inzake financiële en handelsgelegenheden,het uitoefenen van vormingsactiviteiten en alle activiteiten voor de ondersteuning ervan
- Het oprichten en verwerven van participaties in alle commerciële,industriële en financiële ondernemingen,zowel Belgische als buitenlandse
- Het uitoefenen van de functie van bestuurder of vereffenaar in andere vennootschappen
- Het aanleggen,beheren,valoriseren en oordeelkundig uitbreiden van een patrimonium,bestaande uit onroerende en roerende goederen.Zo mag de vennootschap onder meer overgaan tot het aankopen,opschikken,uitrusten,valoriseren,bouwen,in erfpacht geven of nemen,opstalrecht verlenen of krijgen,verhuren of in huur nemen van onroerende goederen,bebouwd of onbebouwd,gemeubeld of ongemeubeld
Invoicing and payment
VAT number
BE 0762.771.277
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Friday of June at 19:00
deed of 07-08-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
880 m²
Building footprint
160 m²
Building volume
955 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11021B0267/00R000 | Flanders | 880 m² | 1 · 159 m² | 16.4 m · 2 |