Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 34 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
53 other companies have their registered office at the same address; threshold 10.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
AD-BEL SERVICES from Watermaal-Bosvoorde, company number BE0832240402, closed financial year 2025 with a result of € -295,586 after tax. For that financial year AD-BEL SERVICES recorded a gross margin of € 1.3 million and equity of € -1.3 million. Compared with financial year 2024, the result moved from € -358,334 to € -295,586. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 12, 2026.
€ -1.3 million
▼ € 295,586 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -295,586
▲ 18 % less loss than in 2024
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.7 million.
People and assets in 2025
13.5
▲ 1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.4 million
▲ 23% vs 2024
€ 103,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 194,041
▼ 77% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 292,501
▲ 24% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 425,839 | € 809,020 | € 851,922 | € 1,257,516 | ▲ 48% |
| Profit after taxes | € -160,958 | € -269,202 | € -358,334 | € -295,586 | ▲ € 62,748 |
| Equity | € -338,175 | € -607,377 | € -965,711 | € -1,261,296 | ▼ € 295,586 |
| Total debts | € 1,663,002 | € 1,902,086 | € 1,726,402 | € 2,116,479 | ▲ 23% |
| Cash | € 779,417 | € 242,722 | € 0 | - | |
| Retained profit | € -759,175 | € -1,028,377 | € -1,386,711 | € -1,682,296 | ▼ € 295,586 |
| Balance sheet total | € 1,324,828 | € 1,294,709 | € 760,691 | € 855,183 | ▲ 12% |
| Employees (FTE) | 10.9 | 12.3 | 12.5 | 13.5 | ▲ 1 |
Key figures of AD-BEL SERVICES, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to AD-BEL SERVICES?
What happened at AD-BEL SERVICES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 295,586. Source: NBB ↗
- AMM Experts SRL became a director. NBB
- Sandrine Bennaim Bellahsen became a director. NBB
- New establishment in Seneffe. KBO
- Guillaume Blauwart became a director. NBB
- New establishment in Watermaal-Bosvoorde. KBO
- Start of the company according to the CBE. KBO
In short
From € 160,958 loss in 2022 to € 295,586 loss in 2025.
Paid € 6,696 in corporate taxes since 2022.
On average € 93,100 of value added per employee in 2025.
A new publication or filing at AD-BEL SERVICES? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind AD-BEL SERVICES are Sandrine Bennaim Bellahsen, Guillaume Blauwart and AMM Experts SRL. The shares are held by Alter Domus Luxembourg sarl (66.7%) and Alter Domus Luxembourg s.a.r.l (33.3%).
Directors
According to the 2025 annual accounts
Sandrine Bennaim Bellahsen
Director
since 2024
Guillaume Blauwart
Director
since 2018
Director · represented by Mouhad Ait Moussa
since 2025
Shareholders
Alter Domus Luxembourg sarl
66.7%
Alter Domus Luxembourg s.a.r.l
33.3%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Terhulpsesteenweg 166 box 2
1170 Watermaal-Bosvoorde
Rue de l'Yser 3 box 1
7180 Seneffe
Active since 1 January 2022
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 53 companies are registered at this address.
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What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0832.240.402
- VAT number
- BE 0832.240.402
- Registered office
- Terhulpsesteenweg 166 bus 2, 1170 Watermaal-Bosvoorde
- Names & denominations
- AD-BEL SERVICES
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 27 December 2010
- Peppol
- Not registered
- Activities · NACE
Activiteiten van (gecertificeerde) (fiscaal) accountants
Boekhouders en boekhouders-fiscalisten