ACTIVE

AD ULTIMA INVEST

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Financial year 2025 · closed on 31/12/2025

Net result

2 M €

+527.4% YoY

Revenue

5,6 M €

-49.5% YoY

Equity

14,9 M €

+124.4% YoY

Workforce

18,5 ETP

-45.6% YoY

What does AD ULTIMA INVEST do?

AD ULTIMA INVEST is a Public limited company incorporated in 2006. Its main activity is: Activities of holding companies. Its registered office is in Kortrijk. It employs on average 18,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0879.143.662

Incorporation

06/02/2006

Legal form

Public limited company

Registered office

Beneluxpark(Kor) 26 box 27
8500 Kortrijk · FlandreSee on map

Contributed capital

4 651 500,00 €

Latest accounts

31/12/2025

Average workforce

18,5 ETP

Activities (NACE)

64200Activities of holding companies· main 64210Activities of holding companies 74151Specialised design activities

Joint committees (3)

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2023		2022		2021		2020		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2007
Income statement
Revenue	5,6 M €	-49.5%	11 M €	+23.9%	8,9 M €	+21.4%	7,3 M €	+32.5%	5,5 M €	+123%	2,5 M €	+33.2%	1,9 M €	+4.4%	1,8 M €	-4.0%	1,9 M €	+86.0%	999,2 k €	+41.6%	705,4 k €	+4.8%	673 k €	+18.5%	567,8 k €	-19.1%	702 k €		–		–
EBITDA	3,6 M €	+1653%	202,5 k €	-78.7%	950,1 k €	-56.2%	2,2 M €	+271%	-1,3 M €	-799%	181,9 k €	-20.4%	228,5 k €	-48.6%	444,1 k €	+13.8%	390,2 k €	+849%	-52,1 k €	-142%	125,5 k €	-25.9%	169,2 k €	-12.4%	193,3 k €	+79.1%	107,9 k €	+56.7%	68,8 k €	+47.0%	46,8 k €
Operating result	2,5 M €	+415%	-792 k €	-689%	134,4 k €	-91.2%	1,5 M €	+189%	-1,7 M €	-1174%	161 k €	-24.1%	212,2 k €	-49.8%	423,1 k €	+14.5%	369,5 k €	+553%	-81,5 k €	-174%	109,7 k €	-31.1%	159,2 k €	-14.5%	186,2 k €	+77.5%	104,9 k €	+52.3%	68,8 k €	+60.8%	42,8 k €
Net result	2 M €	+527%	-467,5 k €	-207%	438,7 k €	-68.8%	1,4 M €	+635%	-263,2 k €	-277%	148,5 k €	+31.8%	112,7 k €	-26.7%	153,6 k €	+57.4%	97,6 k €	+643%	-18 k €	-138%	47 k €	-44.2%	84,2 k €	-84.3%	536,2 k €	+1029%	47,5 k €	-6.3%	50,7 k €	+88.2%	26,9 k €
Balance sheet
Equity	14,9 M €	+124%	6,6 M €	-6.6%	7,1 M €	+6.6%	6,7 M €	+26.8%	5,3 M €	-10.4%	5,9 M €	+2.6%	5,7 M €	+58.5%	3,6 M €	+4.4%	3,5 M €	+2.9%	3,4 M €	-0.5%	3,4 M €	+1.4%	3,3 M €	+2.6%	3,2 M €	+22.2%	2,7 M €	+1.8%	2,6 M €	+3.4%	2,5 M €
Total assets	22,5 M €	+14.7%	19,6 M €	-5.5%	20,7 M €	-7.2%	22,3 M €	+20.8%	18,5 M €	+5.8%	17,5 M €	+35.0%	12,9 M €	+8.7%	11,9 M €	+34.2%	8,9 M €	-1.8%	9 M €	+28.3%	7 M €	+20.9%	5,8 M €	+35.3%	4,3 M €	+9.1%	4 M €	+14.1%	3,5 M €	+30.3%	2,7 M €
Cash	9 k €	-94.9%	177,1 k €	+78.1%	99,5 k €	+382%	20,6 k €	-98.4%	1,3 M €	+44446%	2,8 k €	+43.1%	2 k €	-84.8%	13 k €	+68.6%	7,7 k €	-69.2%	25,1 k €	+49.6%	16,8 k €	+40.8%	11,9 k €	+9.3%	10,9 k €	-59.6%	27 k €	+149%	10,8 k €	-0.4%	10,9 k €
Debts	6,7 M €	-36.0%	10,5 M €	-5.8%	11,2 M €	-17.6%	13,6 M €	+15.4%	11,8 M €	+7.5%	11 M €	+51.8%	7,2 M €	-11.5%	8,2 M €	+50.7%	5,4 M €	-4.5%	5,7 M €	+54.7%	3,7 M €	+46.8%	2,5 M €	+135%	1,1 M €	-18.0%	1,3 M €	+51.6%	853,3 k €	+532%	135,1 k €
Other
Workforce	18,5 ETP	-45.6%	34,0 ETP	+26.9%	26,8 ETP	+34.7%	19,9 ETP	+28.4%	15,5 ETP	+19.2%	13,0 ETP	+2.4%	12,7 ETP	+12.4%	11,3 ETP	+13.0%	10,0 ETP	+186%	3,5 ETP	+84.2%	1,9 ETP	+72.7%	1,1 ETP	+10.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 15 ended

Active mandates

9altitudes Enterprise Solutions

Director · since 09 mai 2023 · until 19 juin 2026 · 0731.679.017

Represented by Nicolas d'Heygere

Active

PROFUNDUS

Director · since 17 décembre 2020 · until 19 juin 2026 · 0565.992.129

Represented by Filip Bossuyt

Active

Ended mandates

9altitudes Enterprise Solutions

Director · since 21 décembre 2020 · until 19 juin 2026 · 0731.679.017

Represented by Cédric Van Cauwenberghe

Ended

PROFUNDUS

Director · since 21 décembre 2020 · until 19 juin 2026 · 0565.992.129

Represented by Filip Bossuyt

Ended

9altitudes Enterprise Solutions

Director · since 17 décembre 2020 · until 19 juin 2026 · 0731.679.017

Represented by Cédric Van Cauwenberghe

Ended

9altitudes Enterprise Solutions

Director · since 21 août 2019 · 0731.679.017

Represented by VAN CAUWENBERGHE CÉDRIC

Ended

At this address

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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	26/05/2026	16/05/2025	11/07/2024	23/06/2023	23/06/2022	23/06/2021
General meeting	30/04/2026	30/04/2025	28/06/2024	16/06/2023	17/06/2022	18/06/2021
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

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/04/2026	26/05/2026	Dutch	PDF
Full model	31/12/2024	30/04/2025	16/05/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	11/07/2024	Dutch	PDF
Full model	31/12/2022	16/06/2023	23/06/2023	Dutch	PDF
Full model	31/12/2021	17/06/2022	23/06/2022	Dutch	PDF
Full model	31/12/2020	18/06/2021	23/06/2021	Dutch	PDF
Full model	31/12/2019	19/06/2020	14/07/2020	Dutch	PDF
Full model	31/12/2018	21/06/2019	18/07/2019	Dutch	PDF
Full model	31/12/2017	15/06/2018	13/07/2018	Dutch	PDF
Full model	31/12/2016	23/06/2017	17/07/2017	Dutch	PDF
Full model	31/12/2015	30/09/2016	30/09/2016	Dutch	PDF
Full model	31/12/2014	19/06/2015	16/07/2015	Dutch	PDF
Full model	31/12/2013	29/12/2014	30/12/2014	Dutch	PDF
Full model	31/12/2012	10/06/2014	30/07/2014	Dutch	PDF
Full model	31/12/2011	15/06/2012	10/07/2012	Dutch	PDF
Full model	31/12/2010	17/06/2011	13/07/2011	Dutch	PDF
Abridged model	30/06/2009	29/12/2009	25/01/2010	Dutch	PDF
Abridged model	30/06/2008	20/12/2008	20/01/2009	Dutch	PDF
Abridged model	30/06/2007	17/01/2008	31/01/2008	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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 · 15 ended

Active mandates

9altitudes Enterprise Solutions

Director · since 09 mai 2023 · until 19 juin 2026 · 0731.679.017

Represented by Nicolas d'Heygere

Active

PROFUNDUS

Director · since 17 décembre 2020 · until 19 juin 2026 · 0565.992.129

Represented by Filip Bossuyt

Active

Ended mandates

9altitudes Enterprise Solutions

Director · since 21 décembre 2020 · until 19 juin 2026 · 0731.679.017

Represented by Cédric Van Cauwenberghe

Ended

PROFUNDUS

Director · since 21 décembre 2020 · until 19 juin 2026 · 0565.992.129

Represented by Filip Bossuyt

Ended

9altitudes Enterprise Solutions

Director · since 17 décembre 2020 · until 19 juin 2026 · 0731.679.017

Represented by Cédric Van Cauwenberghe

Ended

9altitudes Enterprise Solutions

Director · since 21 août 2019 · 0731.679.017

Represented by VAN CAUWENBERGHE CÉDRIC

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office24/10/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates24/10/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/10/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/09/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates28/01/2021
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Mandates25/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/10/2019
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/09/2019
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 20252 M €↑
2023
Annual accounts 2023-467,5 k €↓
2022
Annual accounts 2022438,7 k €↓
2021
Annual accounts 20211,4 M €↑
2020
Annual accounts 2020-263,2 k €↓
2018
Annual accounts 2018148,5 k €↑
2017
Annual accounts 2017112,7 k €↓
2016
Annual accounts 2016153,6 k €↑
2015
Annual accounts 201597,6 k €↑
2014
Annual accounts 2014-18 k €↓
2013
Annual accounts 201347 k €↓
2012
Annual accounts 201284,2 k €↓
2011
Annual accounts 2011536,2 k €↑
2010
Annual accounts 201047,5 k €↓
2009
Annual accounts 200950,7 k €↑
2007
Annual accounts 200726,9 k €
06/02/2006
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

AD ULTIMA INVEST

Overview

What does AD ULTIMA INVEST do?

Trend over 16 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