ASDO
ActiveSummary
ASDO has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €259,749 and a net result of €118,027. Equity is growing by about 20% per year across the filed financial years. Its solvency ranks better than 36% of 10,686 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, abbreviated format
Equity
€259,749▲ 83.3%
2024 · €141,722
Total assets
€724,358▲ 4.8%
2024 · €691,065
Net result
€118,027▼ 8.0%
2024 · €128,233
Working capital
-€373,527▲ 24.5%
2024 · -€494,771
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 33% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€176,730
2025
Net result€118,027
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€724,358
2025
Equity€259,749
2025
Debt€464,608
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€373,527
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)16.3%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency35.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.18
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€5,980-€18,157€69,862▲ 285%€34,647▼ 50.4%€9,586▼ 72.3%€132,785▲ 1,285%€176,730▲ 33.1%
Net result-€11,058-€11,970within the sector's middle half€54,065within the sector's middle half▲ 352%€20,204within the sector's middle half▼ 62.6%€4,697within the sector's middle half▼ 76.8%€128,233within the sector's middle half▲ 2,630%€118,027within the sector's middle half▼ 8.0%
Equity€47,555-€59,524within the sector's middle half▲ 25.2%€113,589within the sector's middle half▲ 90.8%€133,793within the sector's middle half▲ 17.8%€138,490within the sector's middle half▲ 3.5%€141,722within the sector's middle half▲ 2.3%€259,749within the sector's middle half▲ 83.3%
Total assets€697,759-€712,729above the sector's middle half▲ 2.1%€763,525above the sector's middle half▲ 7.1%€754,476within the sector's middle half▼ 1.2%€652,737within the sector's middle half▼ 13.5%€691,065within the sector's middle half▲ 5.9%€724,358within the sector's middle half▲ 4.8%
Debt€650,204-€653,205▲ 0.5%€649,936▼ 0.5%€620,683▼ 4.5%€514,247▼ 17.1%€549,343▲ 6.8%€464,608▼ 15.4%
Working capital-€555,686--€542,040below the sector's middle half▲ 2.5%-€489,089below the sector's middle half▲ 9.8%-€469,767below the sector's middle half▲ 4.0%-€464,589below the sector's middle half▲ 1.1%-€494,771below the sector's middle half▼ 6.5%-€373,527below the sector's middle half▲ 24.5%
Solvency6.8%-8.4%below the sector's middle half▲ 1.5pp14.9%below the sector's middle half▲ 6.5pp17.7%below the sector's middle half▲ 2.9pp21.2%below the sector's middle half▲ 3.5pp20.5%below the sector's middle half▼ 0.7pp35.9%within the sector's middle half▲ 15.4pp
Current ratio0.14-0.17below the sector's middle half▲ 0.020.24below the sector's middle half▲ 0.080.24below the sector's middle half=0.09below the sector's middle half▼ 0.150.07below the sector's middle half▼ 0.020.18below the sector's middle half▲ 0.11
Return on assets (ROA)-1.6%-1.7%within the sector's middle half▲ 3.3pp7.1%within the sector's middle half▲ 5.4pp2.7%within the sector's middle half▼ 4.4pp0.7%within the sector's middle half▼ 2.0pp18.6%above the sector's middle half▲ 17.8pp16.3%above the sector's middle half▼ 2.3pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €724,358
Fixed assets
€642,196 ▼ 1.5%
Current assets
€82,162 ▲ 111%
Equity and liabilities €724,358
Equity
€259,749 ▲ 83.3%
Debt
€464,608 ▼ 15.4%
Debt's share of the balance-sheet total falls from 79.5% to 64.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€186,590▲
2024 · €134,583
Cash flow
€127,887▼
2024 · €130,030
Debt to equity
1.79▼
2024 · 3.88
ROE
45.4%▼
2024 · 90.5%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€455,688▼
2024 · €533,780
Debt > 1 year
€6,407▼
2024 · €13,095
Income taxes
€57,693▲
2024 · €4,109
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €442 | - | - | €148 | €345 | €1,797 | €9,860 | ▲ 449% |
| Other operating charges640/8 | - | - | €868 | €348 | €348 | €436 | €642 | ▲ 47.3% |
| Gross operating margin9900 | -€5,154 | €18,157 | €70,730 | €35,142 | €10,279 | €135,019 | €187,231 | ▲ 38.7% |
| Operating profit (loss)9901 | -€5,980 | €18,157 | €69,862 | €34,647 | €9,586 | €132,785 | €176,730 | ▲ 33.1% |
| Financial income75/76B | - | - | €104 | - | - | - | €0 | - |
| Recurring financial income75 | - | - | €104 | - | - | - | €0 | - |
| Financial charges65/66B | - | - | €6,199 | €2,421 | €184 | €444 | €1,010 | ▲ 128% |
| Recurring financial charges65 | €5,078 | €6,188 | €6,199 | €2,421 | €184 | €444 | €1,010 | ▲ 128% |
| Profit (loss) for the period before taxes9903 | -€11,058 | €11,970 | €63,767 | €32,226 | €9,401 | €132,342 | €175,720 | ▲ 32.8% |
| Income taxes67/77 | - | - | €9,702 | €12,022 | €4,704 | €4,109 | €57,693 | ▲ 1,304% |
| Profit (loss) for the period9904 | -€11,058 | €11,970 | €54,065 | €20,204 | €4,697 | €128,233 | €118,027 | ▼ 8.0% |
| Profit (loss) for the period to be appropriated9905 | -€11,058 | €11,970 | €54,065 | €20,204 | €4,697 | €128,233 | €118,027 | ▼ 8.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €697,759 | €712,729 | €763,525 | €754,476 | €652,737 | €691,065 | €724,358 | ▲ 4.8% |
| Fixed assets21/28 | €605,000 | €605,000 | €605,000 | €605,889 | €605,543 | €652,055 | €642,196 | ▼ 1.5% |
| Tangible fixed assets22/27 | - | - | - | €889 | €543 | €47,055 | €37,196 | ▼ 21.0% |
| Plant, machinery and equipment23 | - | - | - | €889 | €543 | €198 | - | - |
| Furniture and vehicles24 | - | - | - | - | - | €46,858 | €37,196 | ▼ 20.6% |
| Financial fixed assets28 | €605,000 | €605,000 | €605,000 | €605,000 | €605,000 | €605,000 | €605,000 | = |
| Current assets29/58 | €92,759 | €107,729 | €158,525 | €148,587 | €47,193 | €39,010 | €82,162 | ▲ 111% |
| Amounts receivable within one year40/41 | €92,097 | €107,232 | €150,097 | €90,330 | €27,196 | €16,200 | €35,890 | ▲ 122% |
| Trade receivables40 | - | - | €32,030 | €19,965 | €15,750 | €16,200 | €20,425 | ▲ 26.1% |
| Other amounts receivable41 | - | - | €118,067 | €70,365 | €11,446 | - | €15,465 | - |
| Cash at bank and in hand54/58 | €184 | - | €7,917 | €57,733 | €19,384 | €20,545 | €44,124 | ▲ 115% |
| Deferred charges and accrued income490/1 | - | - | €511 | €524 | €613 | €2,265 | €2,147 | ▼ 5.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €697,759 | €712,729 | €763,525 | €754,476 | €652,737 | €691,065 | €724,358 | ▲ 4.8% |
| Equity10/15 | €47,555 | €59,524 | €113,589 | €133,793 | €138,490 | €141,722 | €259,749 | ▲ 83.3% |
| Contributions10/11 | €100,000 | - | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | - | - | €13,589 | €33,793 | €38,490 | €41,722 | €159,749 | ▲ 283% |
| Distributable reserves133 | - | - | €13,589 | €33,793 | €38,490 | €41,722 | €159,749 | ▲ 283% |
| Profit (loss) carried forward14 | -€52,445 | -€40,476 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €650,204 | €653,205 | €649,936 | €620,683 | €514,247 | €549,343 | €464,608 | ▼ 15.4% |
| Amounts payable after more than one year17 | - | - | - | - | - | €13,095 | €6,407 | ▼ 51.1% |
| Financial debts170/4 | - | - | - | - | - | €13,095 | €6,407 | ▼ 51.1% |
| Amounts payable within one year42/48 | €648,445 | €649,769 | €647,614 | €618,354 | €511,782 | €533,780 | €455,688 | ▼ 14.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €6,386 | €6,688 | ▲ 4.7% |
| Financial debts43 | - | - | €137,332 | €75,000 | - | - | - | - |
| Credit institutions430/8 | - | - | €137,332 | €75,000 | - | - | - | - |
| Trade debts44 | €197 | €2,886 | €48,976 | €100,650 | €75,269 | €626 | - | - |
| Suppliers440/4 | - | - | €48,976 | €100,650 | €75,269 | €626 | - | - |
| Taxes, remuneration and social security45 | - | - | €15,613 | €9,790 | - | €838 | €22,693 | ▲ 2,608% |
| Taxes450/3 | - | - | €15,613 | €9,790 | - | €838 | €22,693 | ▲ 2,608% |
| Other amounts payable47/48 | - | - | €445,693 | €432,914 | €436,513 | €525,931 | €426,308 | ▼ 18.9% |
| Accrued charges and deferred income492/3 | - | - | €2,322 | €2,329 | €2,464 | €2,468 | €2,513 | ▲ 1.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,058 | €11,970 | €54,065 | €20,204 | €4,697 | €128,233 | €118,027 | ▼ 8.0% |
| + Depreciation and write-downs630 | €442 | - | - | €148 | €345 | €1,797 | €9,860 | ▲ 449% |
| Operating cash flow (approximation) | -€10,616 | €11,970 | €54,065 | €20,352 | €5,042 | €130,030 | €127,887 | ▼ 1.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€1,036 | €0 | -€48,310 | €0 | - |
| Change in cash | - | - | - | €49,816 | -€38,349 | €1,160 | €23,579 | ▲ 1,932% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2025 | abbreviated format | 07-04-2026 | 2026-00074442 |
| 30-09-2024 | abbreviated format | 05-05-2025 | 2025-00090684 |
| 30-09-2023 | abbreviated format | 15-04-2024 | 2024-00064262 |
| 30-09-2022 | abbreviated format | 16-03-2023 | 2023-00042023 |
| 30-09-2021 | micro format | 05-04-2022 | 2022-20001007 |
| 30-09-2020 | micro format | 26-02-2021 | 2021-06400418 |
| 30-09-2019 | micro format | 05-03-2020 | 2020-06300370 |
| 30-09-2018 | micro format | 07-03-2019 | 2019-06600243 |
| 30-09-2017 | micro format | 27-02-2018 | 2018-05700321 |
| 30-09-2016 | abbreviated format | 10-03-2017 | 2017-06200180 |
Similar companies · same sector, comparable size
VG
BE 0827.382.284
Wommelgem · equity €259,676
FV Invest
BE 0839.157.688
Zoersel · equity €259,646
BABCO
BE 0703.919.793
Schoten · equity €260,461
RUBAM
BE 0797.172.427
Geel · equity €259,037
MEA VOTA
BE 0895.516.866
Merelbeke-Melle · equity €258,988
Of the 5,730 active companies whose main activity is activities of head offices (NACE 70100), figures are known for 3,652. 2,455 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.