Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 12 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
40 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
AdFines from Watermaal-Bosvoorde, company number BE1005928404, closed financial year 2025 with a result of € 372,073 after tax. For that financial year AdFines recorded a gross margin of € 63,817 and equity of € 4.8 million. Compared with financial year 2024, the result moved from € 3.4 million to € 372,073. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 8, 2026.
€ 4.8 million
▲ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 372,073
▼ 89% vs 2024
Profit after tax over the fiscal year.
€ 74,321
▲ 289% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 3.8 million.
Debts at end 2025
€ 5.4 million
▼ 7% vs 2024
€ 633,707 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 7,220
▲ € 6,522 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 3,185
▲ 110% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|
| Gross margin | € 42,595 | € 63,817 | ▲ 50% |
| Profit after taxes | € 3,432,384 | € 372,073 | ▼ 89% |
| Equity | € 4,446,384 | € 4,818,457 | ▲ 8% |
| Total debts | € 5,779,179 | € 5,395,864 | ▼ 7% |
| Cash | € 19,086 | € 74,321 | ▲ 289% |
| Retained profit | € 3,432,384 | € 3,804,457 | ▲ 11% |
| Bank debt | € 5,776,962 | € 5,385,459 | ▼ 7% |
| Balance sheet total | € 10,225,562 | € 10,214,321 |
Key figures of AdFines, fiscal years 2024 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 AdFines?
What happened at AdFines in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 372,073 (▼ 89% vs 2024). Source: NBB ↗
- New establishment in Braine-le-Comte. KBO
- HD Sales Executive Consulting Srl became a director. NBB
- LYLOU became a director. NBB
- PADIX Srl became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 3.4 million profit in 2024 to € 372,073 profit in 2025.
Best year ever: 2024, with € 3.4 million profit.
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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
The stake of HD Sales Executive Consulting, PADIX comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
AdFinesBehind AdFines are HD Sales Executive Consulting Srl, LYLOU and PADIX Srl. The shares are held by HD Sales Executive Consulting (15.4%) and PADIX (2%). It owns 13% of PHARMA FLEX itself.
Directors
According to the 2025 annual accounts
HD Sales Executive Consulting Srl
Director · represented by Hervé Dengis
Also active at: PHARMA FLEX
since 2024
Managing director · represented by Yvan Feraux
since 2024
Director · represented by Pascal Dierickx
since 2024
Shareholders
2%
Participations
13%
Establishments
Establishment units
Physical locations of this company
Vorstlaan 90
1170 Watermaal-Bosvoorde
Rue du Planois 20
7090 Braine-le-Comte
Active since 12 February 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 40 companies are registered at this address.
All companies at this address →Association royale des fabricants de confitures, sirops à tartiner, compotes, conserves et préparations de fruits
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€ -922 gross margin · 2025
LEGAL, TAX AND MANAGEMENT ADVISORS
€ 150,183 gross margin · 2025
J.M.V.D.
€ 173,590 gross margin · 2025
Fiduciaire Digitale
€ 663,863 gross margin · 2024
+35 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 1005.928.404
- VAT number
- BE 1005.928.404
- Registered office
- Vorstlaan 90, 1170 Watermaal-Bosvoorde
- Names & denominations
- AdFines
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 12 February 2024
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
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