ACTIVE

AD

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Financial year 2025 · closed on 31/12/2025
Net result
-29,1 k €
-128.4% YoY
Gross margin
634,4 k €
-5.8% YoY
Equity
918,7 k €
-3.3% YoY
Workforce
10,2 ETP
+21.4% YoY

What does AD do?

AD is a Private limited company incorporated in 2005. Its registered office is in Lokeren. It employs on average 10,2 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0876.992.836
Incorporation
28/10/2005
Legal form
Private limited company
Registered office
Nieuwe Dreef 62
9160 Lokeren · FlandreSee on map
Contributed capital
87 000,00 €
Latest accounts
31/12/2025
Average workforce
10,2 ETP
Joint committees (3)
  • 124
  • 145
  • 200
Contacts
1 public detail availableLog in to view
Signals
Solid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 18 financial years

202520242023202220212019201820172016201520142013201220112010200920082007
Income statement
Gross margin634,4 k €673,6 k €706,6 k €655,5 k €717,8 k €706,2 k €465,8 k €489,4 k €573,2 k €738,5 k €691,2 k €625,1 k €401,5 k €309,2 k €225,8 k €128,7 k €46,8 k €33 k €
EBITDA57,1 k €230 k €362,3 k €362,6 k €346,2 k €219 k €114,8 k €126,7 k €208,4 k €307,1 k €308,6 k €298,9 k €199,5 k €184,2 k €161,8 k €126,7 k €46,3 k €32,2 k €
Operating result-9,2 k €159,4 k €294,3 k €290,3 k €275,7 k €123,4 k €25,5 k €25,2 k €62,4 k €146,3 k €152,3 k €156,5 k €69,9 k €52,6 k €35,5 k €33,8 k €9,3 k €7,6 k €
Net result-29,1 k €102,4 k €216,3 k €211,7 k €200,2 k €91 k €19,4 k €19,1 k €21,1 k €86,9 k €100,9 k €98,1 k €45,8 k €35,3 k €23,6 k €12,2 k €4,4 k €7,1 k €
Balance sheet
Equity918,7 k €949,8 k €847,3 k €791,1 k €739,4 k €609,5 k €520,1 k €500,7 k €481,6 k €460,6 k €373,6 k €272,7 k €185,6 k €146,1 k €121,8 k €105,2 k €98,5 k €94,1 k €
Total assets1,8 M €1,3 M €1,4 M €1,3 M €1,2 M €898,6 k €990,7 k €987,6 k €1,2 M €959,3 k €907,3 k €646,5 k €635,1 k €590,4 k €425,8 k €503,3 k €240,8 k €129 k €
Cash465,2 k €32,4 k €205,6 k €791,7 k €709,2 k €206,1 k €302,7 k €310,6 k €273,3 k €334,8 k €336,1 k €245,7 k €271 k €35,1 k €16,3 k €27,7 k €5,5 k €29,4 k €
Debts895,1 k €318,7 k €514,7 k €538,1 k €495,1 k €289,1 k €470,6 k €418,4 k €621 k €392,9 k €434,7 k €320,9 k €412,8 k €412,3 k €304 k €398,1 k €142,4 k €35 k €
Other
Workforce10,2 ETP8,4 ETP8,1 ETP6,3 ETP9,1 ETP10,2 ETP10,2 ETP8,2 ETP8,2 ETP9,3 ETP7,2 ETP7,0 ETP2,1 ETP1,9 ETP1,7 ETP0,1 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 · 10 ended

Active mandates

G-FORCE GROUP

Director · since 02 décembre 2022 · until 01 décembre 2028 · 0894.435.614

Represented by Glenn Janssens

Active

Ended mandates

Verdi@com

Director · since 21 décembre 2021 · until 01 décembre 2022 · 0846.440.014

Represented by Dirk Audenaert

Ended
Verdi@com

Director · since 21 décembre 2021 · until 21 décembre 2026 · 0846.440.014

Represented by Dirk Audenaert

Ended
Véronique Marie C Vander Sype

Director · since 06 décembre 2005

Ended
Véronique Vander Sype

Manager · since 06 décembre 2005

Ended
At this address

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CompanyCBE no.
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1001.665.847
TM Trafiriver● Active
0803.019.844
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/07/2019
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months18 months
Filing date09/06/202625/06/202502/07/202407/06/202321/06/202204/08/2021
General meeting06/06/202606/06/202524/06/202406/06/202306/06/202230/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202506/06/202609/06/2026DutchPDF
Abridged model31/12/202406/06/202525/06/2025DutchPDF
Abridged model31/12/202324/06/202402/07/2024DutchPDF
Abridged model31/12/202206/06/202307/06/2023DutchPDF
Abridged model31/12/202106/06/202221/06/2022DutchPDF
Abridged model31/12/202030/06/202104/08/2021DutchPDF
Abridged model30/06/201906/12/201919/12/2019DutchPDF
Abridged model30/06/201806/12/201803/01/2019DutchPDF
Abridged model30/06/201706/12/201716/12/2017DutchPDF
Abridged model30/06/201606/12/201619/12/2016DutchPDF
Abridged model30/06/201507/12/201518/12/2015DutchPDF
Abridged model30/06/201406/12/201405/01/2015DutchPDF
Abridged model30/06/201306/12/201321/12/2013DutchPDF
Abridged model30/06/201206/12/201231/12/2012DutchPDF
Abridged model30/06/201106/12/201107/12/2011DutchPDF
Abridged model30/06/201006/12/201020/12/2010DutchPDF
Abridged model30/06/200907/12/200917/12/2009DutchPDF
Abridged model30/06/200806/12/200824/12/2008DutchPDF
Abridged model30/06/200706/12/200724/12/2007DutchPDF
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 · 10 ended

Active mandates

G-FORCE GROUP

Director · since 02 décembre 2022 · until 01 décembre 2028 · 0894.435.614

Represented by Glenn Janssens

Active

Ended mandates

Verdi@com

Director · since 21 décembre 2021 · until 01 décembre 2022 · 0846.440.014

Represented by Dirk Audenaert

Ended
Verdi@com

Director · since 21 décembre 2021 · until 21 décembre 2026 · 0846.440.014

Represented by Dirk Audenaert

Ended
Véronique Marie C Vander Sype

Director · since 06 décembre 2005

Ended
Véronique Vander Sype

Manager · since 06 décembre 2005

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates10/03/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates10/03/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office28/01/2026
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates09/12/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Registered office13/05/2024
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates13/02/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates12/01/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates07/10/2022
    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

Timeline

  1. 2025
    Annual accounts 2025-29,1 k €↓
  2. 2024
    Annual accounts 2024102,4 k €↓
  3. 2023
    Annual accounts 2023216,3 k €↑
  4. 2022
    Annual accounts 2022211,7 k €↑
  5. 2021
    Annual accounts 2021200,2 k €↑
  6. 2019
    Annual accounts 201991 k €↑
  7. 2018
    Annual accounts 201819,4 k €↑
  8. 2017
    Annual accounts 201719,1 k €↓
  9. 2016
    Annual accounts 201621,1 k €↓
  10. 2015
    Annual accounts 201586,9 k €↓
  11. 2014
    Annual accounts 2014100,9 k €↑
  12. 2013
    Annual accounts 201398,1 k €↑
  13. 2012
    Annual accounts 201245,8 k €↑
  14. 2011
    Annual accounts 201135,3 k €↑
  15. 2010
    Annual accounts 201023,6 k €↑
  16. 2009
    Annual accounts 200912,2 k €↑
  17. 2008
    Annual accounts 20084,4 k €↓
  18. 2007
    Annual accounts 20077,1 k €
  19. 28/10/2005
    IncorporationPrivate limited company