AE+D
ActiveSummary
AE+D has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €891k and a net result of €29k. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 26% of 154 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
71
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability57▲+8
Solvency59▲+9
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 3.64 against 1.77 in 2024; short-term debt: 8.5% and cash: 7.3% of total assets), but 66.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 13
Relative position
BE, all sectors
reference
Sector 13
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
33.8%
Return on assets
1.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
61 d late
2022
16 d late
2021
19 d late
2020
31 d late
2019
144 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€29k▼ 38.1%
2024 · €47k
2018: €599k
2019: €61k
2020: €15k
2021: €104k
2022: €107k
2023: €47k
2024: €47k
2018 → 2025
Working capital
€589k▼ 18.5%
2024 · €723k
2018: €1.12M
2019: €1.15M
2020: €969k
2021: €555k
2022: €444k
2023: €1.75M
2024: €723k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.41M-€1.52M▲ 7.5%€1.56M▲ 3.0%€861k▼ 45.0%€891k▲ 3.4%
Operating result€116k-€151k▲ 30.2%€113k▼ 25.1%€81k▼ 28.7%€68k▼ 15.4%
Net result€104k-€107k▲ 2.6%€47k▼ 56.2%€47k▲ 1.1%€29k▼ 38.1%
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 15% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.63M
Fixed assets
€1.82M ▲ 1.3%
Current assets
€813k ▼ 51.2%
Equity and liabilities €2.63M
Equity
€891k ▲ 3.4%
Debt
€1.74M ▼ 33.0%
Debt's share of the balance-sheet total falls from 75.1% to 66.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€171k▲
2024 · €137k
Cash flow
€132k▲
2024 · €103k
Current ratio
3.64▲
2024 · 1.77
Quick ratio
3.34▲
2024 · 1.58
Debt to equity
1.96▼
2024 · 3.02
ROE
3.3%▼
2024 · 5.5%
ROA
1.1%▼
2024 · 1.4%
Interest coverage
4.47▲
2024 · 3.45
Debt ≤ 1 year
€223k▼
2024 · €942k
Debt > 1 year
€1.51M▼
2024 · €1.59M
Income taxes
€12k▼
2024 · €21k
Staff costs
€276k▼
2024 · €341k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 59 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.46M€2.63M▼
Fixed assets21/28€1.80M€1.82M▲
Tangible fixed assets22/27€1.80M€1.82M▲
Land and buildings22€1.22M€1.27M▲
Plant, machinery and equipment23€46k€25k▼
Furniture and vehicles24€40k€29k▼
Other tangible fixed assets26-€8k
Assets under construction and advance payments27€495k€495k=
Current assets29/58€1.66M€813k▼
Stocks and contracts in progress3€181k€67k▼
Stocks30/36€75k€67k▼
Contracts in progress37€106k-
Amounts receivable within one year40/41€261k€331k▲
Trade receivables40€230k€292k▲
Other amounts receivable41€30k€39k▲
Current investments50/53€1.00M€224k▼
Cash at bank and in hand54/58€223k€192k▼
Equity and liabilities
Total equity and liabilities10/49€3.46M€2.63M▼
Equity10/15€861k€891k▲
Contributions10/11€19k€19k=
Outside capital11€19k€19k=
Other1109/19€19k€19k=
Reserves13€843k€872k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€19k€19k=
Distributable reserves133€822k€851k▲
Amounts payable17/49€2.60M€1.74M▼
Amounts payable after more than one year17€1.59M€1.51M▼
Financial debts170/4€1.59M€1.51M▼
Amounts payable within one year42/48€942k€223k▼
Current portion of amounts payable after more than one year42€85k€86k▲
Trade debts44€47k€8k▼
Suppliers440/4€47k€8k▼
Taxes, remuneration and social security45€33k€21k▼
Taxes450/3€24k€13k▼
Remuneration and social security454/9€9k€9k▼
Other amounts payable47/48€777k€108k▼
Accrued charges and deferred income492/3€66k€13k▼
Income statement
Code20242025
Remuneration, social security and pensions62€341k€276k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€56k€102k▲
Other operating charges640/8€6k€6k▲
Gross operating margin9900€484k€453k▼
Operating profit (loss)9901€81k€68k▼
Financial income75/76B€27k€11k▼
Recurring financial income75€27k€11k▼
Financial charges65/66B€40k€38k▼
Recurring financial charges65€40k€38k▼
Profit (loss) for the period before taxes9903€68k€41k▼
Income taxes67/77€21k€12k▼
Profit (loss) for the period9904€47k€29k▼
Profit (loss) for the period to be appropriated9905€47k€29k▼
Appropriation of the result
Profit (loss) to be appropriated9906€47k€29k▼
Transfer from equity791/2€751k-
Transfer to equity691/2€47k€29k▼
To other reserves6921€47k€29k▼
Profit to be distributed694/7€751k-
Return on contributions (dividend)694€751k-
Social balance
Average headcount (FTE)90875.15.1=
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Liquidity doublescurrent ratio 3.64
Current ratio from 1.77 to 3.64; short-term debt falls from €942k to €223k.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 61 days late
2023
31-12
Financial
Liquidity quadruplescurrent ratio 9.94
Current ratio from 2.30 to 9.94; short-term debt falls from €342k to €196k.
16-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 16 days late
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Weakest financial yearnet €15k ▼75.3%
Net result drops to €15k, the lowest in the series; recovery starts the following year.
22-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 144 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
11-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 11 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Westerlo · 1 establishment unit since 1995
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
de Merodedreef 462260 WesterloGround area
851 m²
Building footprint
269 m²
Parcel 13049B0768/00L000, Flanders. Linked by address, not a title deed.
1 establishment unit
A E + D
since 19952.072.873.865
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13049B0768/00L000 | Flanders | 851 m² | 1 · 269 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 1,730 EUR awarded · 1,730 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 480 EUR | 480 EUR |
| 2023 | 1 | 1,250 EUR | 1,250 EUR |
Schemes
Aanwervingsincentive voor langdurig werkzoekenden (AWI) - Stopgezet
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
1 categoryAE+D BV45617
Similar companies · same sector, comparable size
Etablissements Jarilux
BE 0405.422.782
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THE FABRIC
BE 0668.585.762
Lokeren · Eq €923k
INFINICO
BE 0406.814.832
Deerlijk · Eq €931k
Dekzeilen Jeurissen
BE 0465.652.755
Lanaken · Eq €951k
FERMOLUX SE
BE 0845.513.960
Lommel · Eq €817k
Of 598 companies in sector 13929 we hold annual accounts for 236. 160 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded01-08-1995
Fiscal year end31-12
Activities, NACEBEL 2025
13929Manufacture of textiles
33190Repair, maintenance and installation of machinery and equipment
47519Retail trade
47791Retail sale of antiques
77399Renting and leasing of other machinery, equipment and tangible goods
Sources
Crossroads Bank for EnterprisesNational Bank · 30 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.