ACTIVE

AD - FI - CON

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Financial year 2025 · closed on 30/09/2025

Net result

-28,4 k €

-15260.4% YoY

Gross margin

-10,4 k €

+19.1% YoY

Equity

972,7 k €

-2.8% YoY

What does AD - FI - CON do?

AD - FI - CON is a Private limited company incorporated in 1987. Its main activity is: Management consultancy activities. Its registered office is in Geraardsbergen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0431.462.730

Incorporation

29/06/1987

Legal form

Private limited company

Registered office

Resteleustraat(Ove) 22
9500 Geraardsbergen · FlandreSee on map

Contributed capital

63 708,64 €

Latest accounts

30/09/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 74142Specialised design activities

Signals

Solid equityLow riskGood liquidityPositive cashflow

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 13 financial years

	2025		2024		2023		2022		2021		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-10,4 k €	+19.1%	-12,9 k €	-105%	239,3 k €	+1323%	16,8 k €	-46.1%	31,2 k €	-17.4%	37,8 k €	+31.4%	28,8 k €	-21.5%	36,6 k €	-0.2%	36,7 k €	-1.6%	37,3 k €	-12.2%	42,5 k €	+228%	12,9 k €	-70.2%	43,4 k €
EBITDA	-12,6 k €	+17.9%	-15,3 k €	-106%	237,2 k €	+1684%	13,3 k €	-53.1%	28,4 k €	-9.4%	31,3 k €	+24.3%	25,2 k €	+13.5%	22,2 k €	+168%	8,3 k €	-67.5%	25,5 k €	-16.6%	30,5 k €	+2885%	-1,1 k €	-103%	35,1 k €
Operating result	-77,8 k €	-307%	-19,1 k €	-108%	230,2 k €	+2915%	-8,2 k €	-241%	5,8 k €	-65.5%	16,8 k €	+72.1%	9,8 k €	+79.3%	5,5 k €	+181%	-6,8 k €	-139%	17,3 k €	-20.3%	21,7 k €	+177%	-28,2 k €	-22.4%	-23,1 k €
Net result	-28,4 k €	-15260%	187 €	-100.0%	867,2 k €	+5221%	-16,9 k €	-787%	2,5 k €	-82.8%	14,3 k €	+63.7%	8,8 k €	+95.4%	4,5 k €	+279%	-2,5 k €	-113%	19 k €	-61.5%	49,4 k €	-26.5%	67,2 k €	+264%	18,5 k €
Balance sheet
Equity	972,7 k €	-2.8%	1 M €	-0.1%	1 M €	+387%	205,5 k €	-7.6%	222,4 k €	+44.0%	154,5 k €	+10.2%	140,2 k €	+6.7%	131,4 k €	+3.5%	127 k €	-1.9%	129,5 k €	+11.2%	116,5 k €	+59.5%	73 k €	-3.7%	75,8 k €
Total assets	1,1 M €	-3.9%	1,1 M €	-9.8%	1,3 M €	+155%	491,9 k €	+55.7%	315,9 k €	-7.4%	341,1 k €	+0.5%	339,5 k €	-6.6%	363,3 k €	+1.8%	357 k €	+25.8%	283,7 k €	+6.4%	266,7 k €	-35.2%	411,6 k €	-23.6%	538,9 k €
Cash	80,2 k €	-8.4%	87,5 k €	-66.6%	262,3 k €	+1429%	17,2 k €	-50.7%	34,8 k €	-48.3%	67,4 k €	+24.6%	54,1 k €	+49.7%	36,1 k €	+203%	11,9 k €	-69.5%	39,1 k €	+11.5%	35,1 k €	-38.8%	57,3 k €	+694%	7,2 k €
Debts	62,3 k €	-16.7%	74,8 k €	-61.5%	194,1 k €	-28.4%	271,2 k €	+216%	85,9 k €	+363%	18,6 k €	-38.2%	30 k €	-50.6%	60,9 k €	-11.9%	69,1 k €	+288%	17,8 k €	-22.1%	22,9 k €	-90.1%	230,3 k €	-27.6%	318 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 21 ended

Active mandates

Arnout Colaert

Director

Active

Vicky Coesens

Director

Active

Ended mandates

Arnout Colaert

Bestuurder · since 17 mars 2020 · until 17 mars 2026

Ended

Arnout Colaert

Director · since 17 mars 2020 · until 17 mars 2026

Ended

Vicky Coesens

Bestuurder · since 17 mars 2020 · until 17 mars 2026

Ended

Vicky Coesens

Director · since 17 mars 2020 · until 17 mars 2026

Ended

At this address

Other companies at this address

Company	CBE no.
ARMACO RECUP● Active	0451.331.892
HAPE INTERNATIONAL● Liquidation	0435.315.709

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	21/04/2026	29/04/2025	12/02/2024	20/04/2023	14/04/2022	28/04/2021
General meeting	30/03/2026	31/03/2025	26/01/2024	21/03/2023	15/03/2022	30/03/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	30/03/2026	21/04/2026	Dutch	PDF
Micro model	30/09/2024	31/03/2025	29/04/2025	Dutch	PDF
Micro model	30/09/2023	26/01/2024	12/02/2024	Dutch	PDF
Micro model	30/09/2022	21/03/2023	20/04/2023	Dutch	PDF
Abridged model	30/09/2021	15/03/2022	14/04/2022	Dutch	PDF
Abridged model	30/09/2020	30/03/2021	28/04/2021	Dutch	PDF
Abridged model	30/09/2019	17/03/2020	19/03/2020	Dutch	PDF
Abridged model	30/09/2018	30/03/2019	30/04/2019	Dutch	PDF
Abridged model	30/09/2017	20/03/2018	27/03/2018	Dutch	PDF
Abridged model	30/09/2016	21/03/2017	28/04/2017	Dutch	PDF
Abridged model	30/09/2015	15/03/2016	31/03/2016	Dutch	PDF
Abridged model	30/09/2014	17/03/2015	30/03/2015	Dutch	PDF
Abridged model	30/09/2013	31/03/2014	30/04/2014	Dutch	PDF
Abridged model	30/09/2012	30/03/2013	30/04/2013	Dutch	PDF
Abridged model	30/09/2011	20/03/2012	20/04/2012	Dutch	PDF
Abridged model	30/09/2010	29/03/2011	29/04/2011	Dutch	PDF
Abridged model	30/09/2009	16/03/2010	15/04/2010	Dutch	PDF
Abridged model	30/09/2008	31/03/2009	22/06/2009	Dutch	PDF
Abridged model	30/09/2007	31/03/2008	30/04/2008	Dutch	PDF
Abridged model	30/09/2006	20/03/2007	27/04/2007	Dutch	PDF
Abridged model	30/09/2005	20/03/2006	21/02/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 21 ended

Active mandates

Arnout Colaert

Director

Active

Vicky Coesens

Director

Active

Ended mandates

Arnout Colaert

Bestuurder · since 17 mars 2020 · until 17 mars 2026

Ended

Arnout Colaert

Director · since 17 mars 2020 · until 17 mars 2026

Ended

Vicky Coesens

Bestuurder · since 17 mars 2020 · until 17 mars 2026

Ended

Vicky Coesens

Director · since 17 mars 2020 · until 17 mars 2026

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates09/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - DOEL - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates27/04/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/08/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/10/2014
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/06/2008
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/01/2004
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-28,4 k €↓
2024
Annual accounts 2024187 €↓
2023
Annual accounts 2023867,2 k €↑
2022
Annual accounts 2022-16,9 k €↓
2021
Annual accounts 20212,5 k €↓
2013
Annual accounts 201314,3 k €↑
2012
Annual accounts 20128,8 k €↑
2011
Annual accounts 20114,5 k €↑
2010
Annual accounts 2010-2,5 k €↓
2009
Annual accounts 200919 k €↓
2008
Annual accounts 200849,4 k €↓
2007
Annual accounts 200767,2 k €↑
2006
Annual accounts 200618,5 k €
29/06/1987
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

AD - FI - CON

Overview

What does AD - FI - CON do?

Trend over 13 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline