ACTIVE

AD-CO

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Financial year 2025 · closed on 31/12/2025

Net result

114,4 k €

+3.5% YoY

Gross margin

1,2 M €

+12.6% YoY

Equity

1,1 M €

+11.2% YoY

Workforce

8,6 ETP

+14.7% YoY

What does AD-CO do?

AD-CO is a Private limited company incorporated in 2012. Its main activity is: Other business support service activities n.e.c.. Its registered office is in Alken. It employs on average 8,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0847.179.489

Incorporation

29/06/2012

Legal form

Private limited company

Registered office

Industrieterrein Kolmen 1085
3570 Alken · FlandreSee on map

Contributed capital

210 000,00 €

Latest accounts

31/12/2025

Average workforce

8,6 ETP

Activities (NACE)

82990Other business support service activities n.e.c.· main 82990Other business support service activities n.e.c.85592Other education n.e.c.85592Other education n.e.c.

Joint committees (1)

Signals

ProfitableSolid equityPositive cashflowPositive EBITDAHealthy social debts

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		2020		2019		2018		2017		2016		2015		2014		2013
Income statement
Gross margin	1,2 M €	+12.6%	1,1 M €	+27.5%	867,1 k €	+16.3%	745,8 k €	-29.8%	1,1 M €	+43.3%	741,7 k €	+17.1%	633,4 k €	+28.2%	494 k €	+43.6%	344 k €	+752%	40,4 k €	-71.9%	143,6 k €	+103%	70,6 k €	+68.3%	41,9 k €
EBITDA	508,8 k €	+10.2%	461,8 k €	+1.6%	454,7 k €	-16.5%	544,6 k €	-38.7%	888,1 k €	+55.7%	570,5 k €	+24.4%	458,5 k €	+27.9%	358,4 k €	+68.5%	212,7 k €	+746%	25,2 k €	-82.4%	143 k €	+104%	69,9 k €	+70.2%	41,1 k €
Operating result	219,8 k €	+3.2%	213,1 k €	+9.5%	194,6 k €	+3.5%	188,1 k €	-55.1%	418,7 k €	+276%	111,4 k €	+454%	20,1 k €	+1437%	1,3 k €	+112%	-10,9 k €	+71.4%	-38,2 k €	-129%	130,4 k €	+88.8%	69,1 k €	+73.0%	39,9 k €
Net result	114,4 k €	+3.5%	110,5 k €	+3.3%	107 k €	-6.5%	114,5 k €	-60.0%	286,3 k €	+290%	73,5 k €	+202%	24,3 k €	+297%	-12,4 k €	+30.0%	-17,7 k €	+54.2%	-38,6 k €	-144%	86,9 k €	+84.7%	47 k €	+75.8%	26,8 k €
Balance sheet
Equity	1,1 M €	+11.2%	1 M €	+12.2%	907,7 k €	+13.4%	800,6 k €	+16.7%	686,2 k €	+71.6%	399,9 k €	+173%	146,4 k €	+19.9%	122 k €	-9.2%	134,4 k €	-11.6%	152,1 k €	-20.2%	190,7 k €	+83.7%	103,8 k €	+82.9%	56,8 k €
Total assets	2,7 M €	+6.6%	2,5 M €	+7.4%	2,4 M €	+5.5%	2,2 M €	-1.6%	2,3 M €	+10.4%	2,1 M €	+8.6%	1,9 M €	+12.8%	1,7 M €	+21.4%	1,4 M €	+271%	372,5 k €	+26.7%	293,9 k €	+64.1%	179,1 k €	+138%	75,4 k €
Cash	100,8 k €	+12.7%	89,4 k €	+34.3%	66,5 k €	+43.8%	46,3 k €	+68.1%	27,5 k €	-77.1%	119,9 k €	+144%	49,1 k €	-6.9%	52,7 k €	-60.3%	132,8 k €	+254%	37,5 k €	-76.5%	159,6 k €	+98.2%	80,6 k €	+143%	33,2 k €
Debts	1,6 M €	+3.4%	1,5 M €	+4.4%	1,4 M €	+0.9%	1,4 M €	-9.2%	1,6 M €	-4.8%	1,7 M €	-4.8%	1,7 M €	+12.1%	1,6 M €	+24.3%	1,2 M €	+467%	219,9 k €	+122%	99,2 k €	+40.5%	70,6 k €	+317%	16,9 k €
Other
Workforce	8,6 ETP	+14.7%	7,5 ETP	+44.2%	5,2 ETP	+67.7%	3,1 ETP	+19.2%	2,6 ETP	-10.3%	2,9 ETP	0.0%	2,9 ETP		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

Eddy Withofs

Director · since 09 avril 2020

Active

Ended mandates

Eddy Withofs

Director

Ended

Eddy Withofs

Manager

Ended

At this address

Other companies at this address

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CENTRUM VOOR LOONBEHEER● Active	0447.567.304
CLB Academy● Active	0700.784.319
CLB-CONSULT● Active	0870.673.681
CLB EDPB● Active	0830.566.458
CLB Immo● Active	0725.621.465
CLB M&C● Active	0803.425.462
CLB-VERZEKERINGEN● Active	0478.972.538
ENVIRO ENGINEERING● Active	0448.443.371
LOONBEHEER● Active	0457.679.652
Qbase● Active	1039.052.023
RESTO IN VIRIDI● Active	0747.852.281

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	16/06/2026	23/06/2025	12/06/2024	08/06/2023	07/06/2022	08/06/2021
General meeting	02/06/2026	03/06/2025	04/06/2024	06/06/2023	07/06/2022	01/06/2021
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

13 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	02/06/2026	16/06/2026	Dutch	PDF
Abridged model	31/12/2024	03/06/2025	23/06/2025	Dutch	PDF
Abridged model	31/12/2023	04/06/2024	12/06/2024	Dutch	PDF
Abridged model	31/12/2022	06/06/2023	08/06/2023	Dutch	PDF
Abridged model	31/12/2021	07/06/2022	07/06/2022	Dutch	PDF
Abridged model	31/12/2020	01/06/2021	08/06/2021	Dutch	PDF
Abridged model	31/12/2019	02/06/2020	16/06/2020	Dutch	PDF
Micro model	31/12/2018	04/06/2019	05/06/2019	Dutch	PDF
Micro model	31/12/2017	05/06/2018	16/07/2018	Dutch	PDF
Micro model	31/12/2016	06/06/2017	29/08/2017	Dutch	PDF
Abridged model	31/12/2015	07/06/2016	23/06/2016	Dutch	PDF
Abridged model	31/12/2014	02/06/2015	10/06/2015	Dutch	PDF
Abridged model	31/12/2013	03/06/2014	27/06/2014	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 · 1 active · 2 ended

Active mandates

Eddy Withofs

Director · since 09 avril 2020

Active

Ended mandates

Eddy Withofs

Director

Ended

Eddy Withofs

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates17/04/2020
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Other16/07/2012
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 2025114,4 k €↑
2024
Annual accounts 2024110,5 k €↑
2024
Name changeAD-COa
2023
Annual accounts 2023107 k €↓
2022
Annual accounts 2022114,5 k €↓
2021
Annual accounts 2021286,3 k €↑
2020
Annual accounts 202073,5 k €↑
2019
Annual accounts 201924,3 k €↑
2018
Annual accounts 2018-12,4 k €↑
2017
Annual accounts 2017-17,7 k €↑
2016
Annual accounts 2016-38,6 k €↓
2015
Annual accounts 201586,9 k €↑
2014
Annual accounts 201447 k €↑
2013
Annual accounts 201326,8 k €
2013
Name changeAD-CO
29/06/2012
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-CO

Overview

What does AD-CO 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