ACTIVE

ADFISC

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Financial year 2025 · closed on 31/12/2025

Net result

247,4 k €

+12.0% YoY

Gross margin

1,6 M €

+4.8% YoY

Equity

1,2 M €

-0.0% YoY

Workforce

14,3 ETP

-7.1% YoY

What does ADFISC do?

ADFISC is a Private limited company incorporated in 1999. Its main activity is: Accounting, bookkeeping and auditing activities; tax consultancy. Its registered office is in Roeselare. It employs on average 14,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0466.264.449

Incorporation

24/11/1999

Legal form

Private limited company

Registered office

Kwadestraat 20 C
8800 Roeselare · FlandreSee on map

Contributed capital

18 550,00 €

Latest accounts

31/12/2025

Average workforce

14,3 ETP

Activities (NACE)

69201Accounting, bookkeeping and auditing activities; tax consultancy· main 69201Accounting, bookkeeping and auditing activities; tax consultancy 69202Accounting, bookkeeping and auditing activities; tax consultancy 74121Specialised design activities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2025		2024		2023		2022		2021		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	1,6 M €	+4.8%	1,5 M €	-3.6%	1,6 M €	+12.2%	1,4 M €	+14.3%	1,2 M €	+41.8%	855 k €	-10.7%	957,7 k €	+6.2%	902,2 k €	+3.0%	876,3 k €	+6.7%	821,1 k €	+28.1%	641,3 k €	+21.1%	529,6 k €	+38.8%	381,4 k €	+23.6%	308,6 k €	+25.2%	246,5 k €
EBITDA	412,5 k €	+14.6%	360,1 k €	+6.6%	337,7 k €	+15.5%	292,3 k €	+9.9%	266,1 k €	+109%	127,5 k €	-45.0%	231,6 k €	+58.2%	146,4 k €	-24.9%	194,9 k €	+6.5%	183,1 k €	+22.1%	150 k €	+58.8%	94,4 k €	+167%	35,4 k €	-53.4%	76 k €	+11.2%	68,3 k €
Operating result	352,9 k €	+13.3%	311,4 k €	+2.8%	303 k €	+10.3%	274,8 k €	+34.0%	205,2 k €	+108%	98,8 k €	-50.3%	198,9 k €	+64.1%	121,2 k €	-13.7%	140,5 k €	-11.4%	158,6 k €	+59.4%	99,5 k €	+39.1%	71,5 k €	+483%	12,3 k €	-75.4%	49,9 k €	-4.6%	52,3 k €
Net result	247,4 k €	+12.0%	220,9 k €	+7.7%	205,2 k €	+8.2%	189,6 k €	+41.8%	133,7 k €	+275%	35,7 k €	-70.9%	122,4 k €	+59.9%	76,6 k €	-17.8%	93,2 k €	-14.1%	108,5 k €	+60.0%	67,8 k €	+63.5%	41,5 k €	+1169%	3,3 k €	-93.7%	51,6 k €	+29.6%	39,8 k €
Balance sheet
Equity	1,2 M €	-0.0%	1,2 M €	+20.3%	981,7 k €	+22.6%	800,6 k €	+29.2%	619,7 k €	+7.4%	577 k €	-10.5%	644,3 k €	+23.5%	521,9 k €	+11.0%	470,3 k €	+24.7%	377,1 k €	+40.4%	268,6 k €	+29.3%	207,8 k €	+19.9%	173,3 k €	+1.9%	170 k €	+37.7%	123,5 k €
Total assets	1,8 M €	+1.1%	1,8 M €	+13.3%	1,6 M €	+16.0%	1,3 M €	+8.7%	1,2 M €	+23.2%	1 M €	-2.9%	1 M €	+0.3%	1 M €	+21.5%	850 k €	+11.5%	762,1 k €	+17.3%	649,5 k €	-5.5%	687,2 k €	+12.5%	610,6 k €	+32.1%	462,1 k €	+70.1%	271,7 k €
Cash	526,7 k €	+21.6%	433 k €	-0.2%	434 k €	-37.3%	691,7 k €	+21.9%	567,4 k €	+20.1%	472,5 k €	-1.7%	480,5 k €	+14.8%	418,5 k €	+6.2%	394,1 k €	+43.3%	275 k €	+13.6%	242 k €	+59.6%	151,6 k €	-9.7%	168 k €	-11.3%	189,4 k €	+40.8%	134,4 k €
Debts	571,2 k €	+2.2%	558,9 k €	+0.8%	554,7 k €	+6.6%	520,4 k €	-12.2%	593 k €	+46.7%	404,1 k €	+10.2%	366,6 k €	-24.5%	485,5 k €	+38.0%	351,8 k €	-1.2%	356 k €	+0.0%	356 k €	-25.0%	474,9 k €	+9.4%	434,1 k €	+49.8%	289,8 k €	+98.2%	146,2 k €
Other
Workforce	14,3 ETP	-7.1%	15,4 ETP	0.0%	15,4 ETP	-2.5%	15,8 ETP	+5.3%	15,0 ETP	+20.0%	12,5 ETP	-1.6%	12,7 ETP	-3.8%	13,2 ETP	+6.5%	12,4 ETP	+5.1%	11,8 ETP	+26.9%	9,3 ETP	+14.8%	8,1 ETP	+14.1%	7,1 ETP	+42.0%	5,0 ETP	+16.3%	4,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 8 ended

Active mandates

INconsulting

Bestuurder · since 24 août 2021 · 0674.648.064

Represented by Nele Indevuyst

Active

Bart Pannier

Bestuurder

Active

Ended mandates

INconsulting BV

Bestuurder · since 24 août 2021

Represented by Nele Indevuyst

Ended

Louise Pannier

Director · since 01 juillet 2019 · until 01 août 2020

Ended

Louise Pannier

Director · since 01 juillet 2019

Ended

ESTUSA

Director · since 01 janvier 2016 · 0872.165.503

Represented by Bart Pannier

Ended

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	23/07/2026	08/07/2025	30/07/2024	05/10/2023	13/10/2022	26/10/2021
General meeting	26/06/2026	27/06/2025	26/07/2024	03/10/2023	12/10/2022	28/05/2021
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	26/06/2026	23/07/2026	Dutch	PDF
Abridged model	31/12/2024	27/06/2025	08/07/2025	Dutch	PDF
Abridged model	31/12/2023	26/07/2024	30/07/2024	Dutch	PDF
Abridged model	31/12/2022	03/10/2023	05/10/2023	Dutch	PDF
Abridged model	31/12/2021	12/10/2022	13/10/2022	Dutch	PDF
Abridged model	31/12/2020	28/05/2021	26/10/2021	Dutch	PDF
Abridged model	31/12/2019	29/05/2020	29/10/2020	Dutch	PDF
Abridged model	31/12/2018	31/05/2019	30/09/2019	Dutch	PDF
Abridged model	31/12/2017	25/05/2018	25/09/2018	Dutch	PDF
Abridged model	31/12/2016	20/09/2017	22/09/2017	Dutch	PDF
Abridged model	31/12/2015	27/09/2016	30/09/2016	Dutch	PDF
Abridged model	31/12/2014	25/09/2015	05/10/2015	Dutch	PDF
Abridged model	31/12/2013	24/09/2014	26/09/2014	Dutch	PDF
Abridged model	31/12/2012	18/09/2013	20/09/2013	Dutch	PDF
Abridged model	31/12/2011	18/09/2012	24/09/2012	Dutch	PDF
Abridged model	31/12/2010	29/09/2011	30/09/2011	Dutch	PDF
Abridged model	31/12/2009	05/10/2010	07/10/2010	Dutch	PDF
Abridged model	31/12/2008	28/08/2009	31/08/2009	Dutch	PDF
Abridged model	31/12/2007	28/08/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	25/05/2007	30/10/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 2 active · 8 ended

Active mandates

INconsulting

Bestuurder · since 24 août 2021 · 0674.648.064

Represented by Nele Indevuyst

Active

Bart Pannier

Bestuurder

Active

Ended mandates

INconsulting BV

Bestuurder · since 24 août 2021

Represented by Nele Indevuyst

Ended

Louise Pannier

Director · since 01 juillet 2019 · until 01 août 2020

Ended

Louise Pannier

Director · since 01 juillet 2019

Ended

ESTUSA

Director · since 01 janvier 2016 · 0872.165.503

Represented by Bart Pannier

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates03/03/2026
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/10/2022
WIJZIGING RECHTSVORM - DIVERSEN - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/09/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/02/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/01/2020
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares07/02/2018
KAPITAAL - AANDELEN
PDF
Mandates03/03/2017
ONTSLAGEN - BENOEMINGEN
PDF
Registered office24/06/2015
MAATSCHAPPELIJKE ZETEL
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 2025247,4 k €↑
2024
Annual accounts 2024220,9 k €↑
2023
Annual accounts 2023205,2 k €↑
2022
Annual accounts 2022189,6 k €↑
2021
Annual accounts 2021133,7 k €↑
2015
Annual accounts 201535,7 k €↓
2014
Annual accounts 2014122,4 k €↑
2013
Annual accounts 201376,6 k €↓
2012
Annual accounts 201293,2 k €↓
2011
Annual accounts 2011108,5 k €↑
2010
Annual accounts 201067,8 k €↑
2009
Annual accounts 200941,5 k €↑
2008
Annual accounts 20083,3 k €↓
2007
Annual accounts 200751,6 k €↑
2006
Annual accounts 200639,8 k €
24/11/1999
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

ADFISC

Overview

What does ADFISC do?

Trend over 15 financial years

Indicative valuation

Board of directors

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