Ets. GERARD
ActiveSummary
Ets. GERARD has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28,140 and a net result of -€4,334. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 67% of 7967 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability56▼-23
Solvency84▲+14
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 1.94 against 1.46 in 2024; short-term debt: 40.8% and cash: 9.2% of total assets), and 40.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
59.2%
Return on assets
-9.1%
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 03-09-2026, 34 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
34 d late
2024
78 d late
2023
on the day
2022
58 d late
2021
2 d early
2020
73 d late
2019
96 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 48 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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. Usually files around 3 September (4 of the last 5 filed years within 36 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#7 oldest company in Waremme, Construction sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€4,334
2024 · €6,159
Working capital
€18,178▼ 2.6%
2024 · €18,655
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€13,573-€898€9,002€11,313▲ 25.7%-€3,486
Net result€11,070within the sector's middle half▲ 90.2%-€2,600below the sector's middle half€6,168within the sector's middle half€6,159within the sector's middle half▼ 0.2%-€4,334below the sector's middle half
Equity€22,747below the sector's middle half▲ 7.4%€20,147below the sector's middle half▼ 11.4%€26,315below the sector's middle half▲ 30.6%€32,474below the sector's middle half▲ 23.4%€28,140below the sector's middle half▼ 13.3%
Total assets€56,381below the sector's middle half▲ 39.7%€53,457below the sector's middle half▼ 5.2%€60,053below the sector's middle half▲ 12.3%€72,646below the sector's middle half▲ 21.0%€47,561below the sector's middle half▼ 34.5%
Debt€33,633▲ 75.5%€33,310▼ 1.0%€33,738▲ 1.3%€40,172▲ 19.1%€19,422▼ 51.7%
Working capital€32,067within the sector's middle half▲ 76.1%€24,077within the sector's middle half▼ 24.9%€26,135within the sector's middle half▲ 8.6%€18,655below the sector's middle half▼ 28.6%€18,178within the sector's middle half▼ 2.6%
Solvency40.3%within the sector's middle half▼ 12.1pp37.7%within the sector's middle half▼ 2.7pp43.8%within the sector's middle half▲ 6.1pp44.7%within the sector's middle half▲ 0.9pp59.2%within the sector's middle half▲ 14.5pp
Current ratio2.33within the sector's middle half▲ 0.341.82within the sector's middle half▼ 0.501.77within the sector's middle half▼ 0.051.46within the sector's middle half▼ 0.311.94within the sector's middle half▲ 0.47
Return on assets (ROA)19.6%above the sector's middle half▲ 5.2pp-4.9%below the sector's middle half▼ 24.5pp10.3%within the sector's middle half▲ 15.1pp8.5%within the sector's middle half▼ 1.8pp-9.1%below the sector's middle half▼ 17.6pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3,486 after €11,313 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €47,561
Fixed assets
€9,961 ▼ 27.9%
Current assets
€37,600 ▼ 36.1%
Equity and liabilities €47,561
Equity
€28,140 ▼ 13.3%
Debt
€19,422 ▼ 51.7%
Debt's share of the balance-sheet total falls from 55.3% to 40.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1,472▼
2024 · €11,724
Cash flow
€623▼
2024 · €6,569
Debt to equity
0.69▼
2024 · 1.24
ROE
-15.4%▼
2024 · 19.0%
Interest coverage
5.82▼
2024 · 30.27
Debt ≤ 1 year
€19,422▼
2024 · €40,172
Income taxes
€596▼
2024 · €4,950
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,321 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €182 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €3,044 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,554 | - | - | €411 | €4,958 | ▲ 1,108% |
| Other operating charges640/8 | €1,190 | €1,368 | €1,418 | €4,016 | €6,724 | ▲ 67.4% |
| Non-recurring operating charges66A | - | - | - | - | €412 | - |
| Gross operating margin9900 | €18,317 | €470 | €10,420 | €18,785 | €8,608 | ▼ 54.2% |
| Operating profit (loss)9901 | €13,573 | -€898 | €9,002 | €11,313 | -€3,486 | ▼ 131% |
| Financial income75/76B | €1,194 | - | - | €183 | €0 | ▼ 99.9% |
| Recurring financial income75 | €1,194 | - | - | €183 | €0 | ▼ 99.9% |
| Financial charges65/66B | €322 | €199 | €218 | €387 | €253 | ▼ 34.6% |
| Recurring financial charges65 | €322 | €199 | €218 | €387 | €253 | ▼ 34.6% |
| Profit (loss) for the period before taxes9903 | €14,445 | -€1,097 | €8,785 | €11,109 | -€3,739 | ▼ 134% |
| Income taxes67/77 | €3,375 | €1,503 | €2,616 | €4,950 | €596 | ▼ 88.0% |
| Profit (loss) for the period9904 | €11,070 | -€2,600 | €6,168 | €6,159 | -€4,334 | ▼ 170% |
| Profit (loss) for the period to be appropriated9905 | €11,070 | -€2,600 | €6,168 | €6,159 | -€4,334 | ▼ 170% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €56,381 | €53,457 | €60,053 | €72,646 | €47,561 | ▼ 34.5% |
| Fixed assets21/28 | €180 | €180 | €180 | €13,819 | €9,961 | ▼ 27.9% |
| Tangible fixed assets22/27 | - | - | - | €13,639 | €9,781 | ▼ 28.3% |
| Furniture and vehicles24 | - | - | - | €13,639 | €9,781 | ▼ 28.3% |
| Financial fixed assets28 | €180 | €180 | €180 | €180 | €180 | = |
| Current assets29/58 | €56,201 | €53,277 | €59,873 | €58,827 | €37,600 | ▼ 36.1% |
| Amounts receivable within one year40/41 | €40,424 | €46,138 | €54,167 | €52,075 | €33,226 | ▼ 36.2% |
| Trade receivables40 | €18,959 | €21,626 | €30,996 | €43,964 | €27,975 | ▼ 36.4% |
| Other amounts receivable41 | €21,465 | €24,513 | €23,171 | €8,112 | €5,251 | ▼ 35.3% |
| Cash at bank and in hand54/58 | €15,776 | €7,139 | €5,707 | €6,084 | €4,375 | ▼ 28.1% |
| Deferred charges and accrued income490/1 | - | - | - | €668 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €56,381 | €53,457 | €60,053 | €72,646 | €47,561 | ▼ 34.5% |
| Equity10/15 | €22,747 | €20,147 | €26,315 | €32,474 | €28,140 | ▼ 13.3% |
| Contributions10/11 | €19,831 | €19,831 | €19,831 | €19,831 | €19,831 | = |
| Capital10 | €19,831 | €19,831 | - | - | - | - |
| Issued capital100 | €19,831 | €19,831 | - | - | - | - |
| Reserves13 | €1,983 | €1,983 | €1,983 | €1,983 | €1,983 | = |
| Non-distributable reserves130/1 | €1,983 | €1,983 | €1,983 | €1,983 | €1,983 | = |
| Legal reserve130 | €1,983 | €1,983 | - | - | - | - |
| Other1319 | - | - | €1,983 | €1,983 | €1,983 | = |
| Profit (loss) carried forward14 | €933 | -€1,668 | €4,501 | €10,659 | €6,325 | ▼ 40.7% |
| Amounts payable17/49 | €33,633 | €33,310 | €33,738 | €40,172 | €19,422 | ▼ 51.7% |
| Amounts payable after more than one year17 | €9,500 | €4,110 | - | - | - | - |
| Other amounts payable178/9 | €9,500 | €4,110 | - | - | - | - |
| Amounts payable within one year42/48 | €24,133 | €29,200 | €33,738 | €40,172 | €19,422 | ▼ 51.7% |
| Current portion of amounts payable after more than one year42 | €763 | - | - | - | - | - |
| Financial debts43 | - | - | - | €22 | €15 | ▼ 31.2% |
| Credit institutions430/8 | - | - | - | €22 | €15 | ▼ 31.2% |
| Trade debts44 | €12,818 | €14,057 | €18,268 | €21,222 | €1,917 | ▼ 91.0% |
| Suppliers440/4 | €12,818 | €14,057 | €18,268 | €21,222 | €1,917 | ▼ 91.0% |
| Advances received on contracts in progress46 | €5,368 | €9,349 | €10,444 | €10,444 | €10,444 | = |
| Taxes, remuneration and social security45 | €5,185 | €5,795 | €5,025 | €8,484 | €7,046 | ▼ 16.9% |
| Taxes450/3 | €5,185 | €5,795 | €5,025 | €8,484 | €7,046 | ▼ 16.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,070 | -€2,600 | €6,168 | €6,159 | -€4,334 | ▼ 170% |
| + Depreciation and write-downs630 | €3,554 | - | - | €411 | €4,958 | ▲ 1,108% |
| Operating cash flow (approximation) | €14,625 | -€2,600 | €6,168 | €6,569 | €623 | ▼ 90.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€14,050 | -€1,100 | ▲ 92.2% |
| Change in cash | - | -€8,637 | -€1,432 | €377 | -€1,709 | ▼ 553% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
03-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 34 days late
2025
17-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 78 days late
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €6,168
Net result €6,168 after one loss-making year.
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 58 days late
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €11,070 ▲90.2%
Operating result €13,573, net result €11,070, both a record.
12-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 73 days late
2020
31-12
Financial
Back to profitnet €5,821
Net result €5,821 after 2 loss-making years.
04-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 96 days late
2019
12-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 43 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2017
18-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 49 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Waremme · 2 establishment units since 1997
Ground area
2,607 m²
Building footprint
191 m²
Volume, LiDAR
1,508 m³
2 parcels, Wallonia · tallest building 10.7 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
Chaussée de Nivelles 20, 4300 Waremme
since 19972.084.456.160
-
since 20262.382.184.101
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64054A0376/00C000 | Wallonia | 2,221 m² | 1 · 107 m² | 8.9 m · 2 fl. |
| 64040A0626/00F000 | Wallonia | 387 m² | 1 · 83 m² | 10.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 15,524 companies in sector 43990 we hold annual accounts for 7,429. 5,626 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded21-05-1997
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
43331Floor and wall tiling
46832Wholesale of timber
47210Retail sale of fruit and vegetables
47521Retail sale of hardware, building materials, paint and glass (general range)
56112Limited-service restaurants, excluding mobile food services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0460688335
Also
9925:BE0460688335
Registered
13-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.