ACTIVE

A.D. Value

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Financial year 2025 · closed on 31/12/2025

Net result

5,1 M €

+442.8% YoY

Gross margin

3,9 M €

+122.0% YoY

Equity

22,6 M €

+374.2% YoY

Workforce

2,3 ETP

+53.3% YoY

What does A.D. Value do?

A.D. Value is a Public limited company incorporated in 1988. Its registered office is in Rixensart. It employs on average 2,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0433.237.731

Incorporation

29/01/1988

Legal form

Public limited company

Registered office

Chaussée de Lasne 42
1330 Rixensart · WallonieSee on map

Contributed capital

62 000,00 €

Latest accounts

31/12/2025

Average workforce

2,3 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	3,9 M €	+122%	1,7 M €	+4.4%	1,7 M €	-34.4%	2,5 M €	+359%	553,9 k €	+47.0%	376,8 k €	-8.1%	410 k €	-13.4%	473,6 k €	+35.6%	349,3 k €	+1957%	-18,8 k €	-103%	547,9 k €	+119%	250,3 k €	+36.8%	183 k €	-8.2%	199,4 k €	-19.7%	248,4 k €	-0.9%	250,6 k €	+124%	111,8 k €	-50.0%	223,5 k €	-39.2%	367,8 k €	-33.9%	556,7 k €
EBITDA	3,5 M €	+117%	1,6 M €	+6.3%	1,5 M €	-38.0%	2,5 M €	+389%	503,6 k €	+59.0%	316,7 k €	+2.1%	310,2 k €	-20.8%	391,4 k €	+54.0%	254,2 k €	+366%	-95,5 k €	-119%	504,9 k €	+118%	231,3 k €	+60.5%	144,1 k €	-3.5%	149,3 k €	-21.3%	189,8 k €	-6.7%	203,5 k €	+174%	74,3 k €	-53.1%	158,6 k €	-46.8%	298 k €	+3.5%	287,9 k €
Operating result	2,8 M €	+114%	1,3 M €	+4.1%	1,3 M €	-42.3%	2,2 M €	+656%	288,4 k €	+223%	89,3 k €	+76.3%	50,7 k €	-69.5%	166 k €	+182%	58,9 k €	+192%	-64,2 k €	-178%	81,9 k €	-8.0%	89,1 k €	+353%	19,7 k €	-44.4%	35,4 k €	-39.4%	58,3 k €	-30.9%	84,4 k €	+203%	-81,8 k €	-345%	33,4 k €	-80.7%	173,4 k €	+13.4%	152,9 k €
Net result	5,1 M €	+443%	934,6 k €	+8.6%	860,7 k €	-52.1%	1,8 M €	+1221%	136,1 k €	+120%	61,9 k €	+1328%	4,3 k €	-97.3%	158,8 k €	+239%	46,8 k €	+127%	-172,7 k €	-708%	28,4 k €	-37.1%	45,2 k €	+27461%	164 €	+103%	-5,1 k €	-104%	141,1 k €	+354%	31,1 k €	+119%	-161 k €	-237%	-47,8 k €	-172%	66,6 k €	-88.6%	586,4 k €
Balance sheet
Equity	22,6 M €	+374%	4,8 M €	+24.4%	3,8 M €	+29.1%	3 M €	+147%	1,2 M €	+12.8%	1,1 M €	+6.2%	999,2 k €	+7.9%	926,3 k €	+20.7%	767,5 k €	-31.9%	1,1 M €	-13.3%	1,3 M €	+2.2%	1,3 M €	+3.4%	1,2 M €	-0.4%	1,2 M €	-2.6%	1,3 M €	-13.4%	1,5 M €	+1.8%	1,4 M €	-10.4%	1,6 M €	-3.2%	1,7 M €	+7.2%	1,5 M €
Total assets	25 M €	+237%	7,4 M €	+17.8%	6,3 M €	+10.1%	5,7 M €	+37.5%	4,2 M €	+0.4%	4,1 M €	-7.4%	4,5 M €	-3.8%	4,7 M €	+3.6%	4,5 M €	+7.9%	4,2 M €	+10.0%	3,8 M €	-15.7%	4,5 M €	+12.2%	4 M €	-2.8%	4,1 M €	-5.7%	4,4 M €	-6.4%	4,7 M €	-4.1%	4,9 M €	+1.8%	4,8 M €	+13.2%	4,2 M €	+2.5%	4,1 M €
Cash	46,7 k €	+1328%	3,3 k €	+334%	752,5 €	-98.4%	47,3 k €	+18919%	248,9 €	+11012%	2,2 €	-99.9%	3,7 k €	-93.8%	60,4 k €	+94525%	63,9 €	+307%	15,7 €	-99.8%	7,8 k €	-88.9%	70,4 k €	+278%	18,6 k €	+2200%	810 €	+135%	344,4 €		–		–		13 k €	+731%	1,6 k €	-94.8%	29,8 k €
Debts	2,4 M €	-7.4%	2,6 M €	+7.8%	2,4 M €	-10.2%	2,7 M €	+0.6%	2,7 M €	-4.3%	2,8 M €	-9.9%	3,1 M €	-9.4%	3,5 M €	+0.1%	3,5 M €	+25.0%	2,8 M €	+24.9%	2,2 M €	-1.2%	2,2 M €	-9.9%	2,5 M €	-3.3%	2,6 M €	-7.6%	2,8 M €	-2.9%	2,9 M €	-8.1%	3,1 M €	+8.6%	2,9 M €	+26.3%	2,3 M €	-1.0%	2,3 M €
Other
Workforce	2,3 ETP	+53.3%	1,5 ETP	+25.0%	1,2 ETP	-7.7%	1,3 ETP	0.0%	1,3 ETP	0.0%	1,3 ETP		–		–		–		–		0,5 ETP		–		–		–		–		–		1,0 ETP	-37.5%	1,6 ETP	+6.7%	1,5 ETP	-25.0%	2,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 22 ended

Active mandates

Bruno PANI

Director · since 15 juin 2022

Active

Ronane HOET

Director · since 15 juin 2022

Active

THEA PANI

Director · since 15 juin 2022

Active

Ended mandates

THEA PANI

Director · since 01 janvier 2020

Ended

BRUNO PANI

Director · since 15 mai 2019

Ended

P1 CONSULT

Director · since 15 mai 2019 · 0880.926.977

Represented by BRUNO PANI

Ended

Ronane HOET

Director · since 15 mai 2019

Ended

At this address

Other companies at this address

Company	CBE no.
HOET & HOET● Active	0437.309.355
PROFIRST INTERNATIONAL● Active	0450.192.143
Pro Market● Bankrupt	0418.222.527
WISELY WICKED● Active	0721.714.048

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	18/08/2026	29/08/2025	25/06/2024	19/05/2023	23/06/2022	20/08/2021
General meeting	15/07/2026	19/08/2025	19/06/2024	17/05/2023	18/05/2022	19/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	15/07/2026	18/08/2026	French	PDF
Abridged model	31/12/2024	19/08/2025	29/08/2025	French	PDF
Abridged model	31/12/2023	19/06/2024	25/06/2024	French	PDF
Abridged model	31/12/2022	17/05/2023	19/05/2023	French	PDF
Abridged model	31/12/2021	18/05/2022	23/06/2022	French	PDF
Abridged model	31/12/2020	19/05/2021	20/08/2021	French	PDF
Micro model	31/12/2019	20/05/2020	17/08/2020	French	PDF
Micro model	31/12/2018	15/05/2019	02/07/2019	French	PDF
Micro model	31/12/2017	16/05/2018	24/08/2018	French	PDF
Micro model	31/12/2016	17/05/2017	25/08/2017	French	PDF
Abridged model	31/12/2015	18/05/2016	27/09/2016	French	PDF
Abridged model	31/12/2014	17/09/2015	30/09/2015	French	PDF
Abridged model	31/12/2013	25/09/2014	30/09/2014	French	PDF
Abridged model	31/12/2012	25/09/2013	21/10/2013	French	PDF
Abridged model	31/12/2011	16/05/2012	23/08/2012	French	PDF
Abridged model	31/12/2010	18/05/2011	28/11/2011	French	PDF
Abridged model	31/12/2009	19/05/2010	30/09/2010	French	PDF
Abridged model	31/12/2008	20/05/2009	31/08/2009	French	PDF
Abridged model	31/12/2007	21/05/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	16/05/2007	30/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 31/12/2025 · 3 active · 22 ended

Active mandates

Bruno PANI

Director · since 15 juin 2022

Active

Ronane HOET

Director · since 15 juin 2022

Active

THEA PANI

Director · since 15 juin 2022

Active

Ended mandates

THEA PANI

Director · since 01 janvier 2020

Ended

BRUNO PANI

Director · since 15 mai 2019

Ended

P1 CONSULT

Director · since 15 mai 2019 · 0880.926.977

Represented by BRUNO PANI

Ended

Ronane HOET

Director · since 15 mai 2019

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring25/09/2025
CAPITAL, ACTIONS - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring24/06/2025
OBJET - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring16/05/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring14/05/2025
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Other24/11/2023
DIVERS
PDF
Mandates17/06/2022
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DEMISSIONS, NOMINATIONS
PDF
Mandates08/05/2020
DEMISSIONS, NOMINATIONS
PDF
Capital / shares17/01/2018
CAPITAL, ACTIONS
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 20255,1 M €↑
2024
Annual accounts 2024934,6 k €↑
2023
Annual accounts 2023860,7 k €↓
2022
Annual accounts 20221,8 M €↑
2021
Annual accounts 2021136,1 k €↑
2020
Annual accounts 202061,9 k €↑
2019
Annual accounts 20194,3 k €↓
2018
Annual accounts 2018158,8 k €↑
2017
Annual accounts 201746,8 k €↑
2016
Annual accounts 2016-172,7 k €↓
2015
Annual accounts 201528,4 k €↓
2014
Annual accounts 201445,2 k €↑
2013
Annual accounts 2013164 €↑
2012
Annual accounts 2012-5,1 k €↓
2011
Annual accounts 2011141,1 k €↑
2010
Annual accounts 201031,1 k €↑
2009
Annual accounts 2009-161 k €↓
2008
Annual accounts 2008-47,8 k €↓
2007
Annual accounts 200766,6 k €↓
2006
Annual accounts 2006586,4 k €
29/01/1988
IncorporationPublic 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

A.D. Value

Overview

What does A.D. Value do?

Trend over 20 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