G.A.D.
ActiveSummary
G.A.D. has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €39k and a net result of €-17k. Equity is growing by ~8.9% per year across the filed fiscal years. Its solvency ranks better than 56% of 4659 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-69
Solvency60▼-15
Growth36=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity tight (current ratio 1.45 against 1.86 in 2024; short-term debt: 65.5% and cash: 66.9% of total assets), and 65.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
34.5%
Return on assets
-14.6%
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 04-08-2026, 4 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
4 d late
2024
26 d late
2023
19 d late
2022
23 d late
2021
23 d early
2020
23 d early
2019
4 d early
← 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€228k▲ 26.3%
2020 · €181k
EBIT margin
11.6%▲ 19.0pp
2020 · -7.4%
Net result
€-17k
2024 · €6k
Working capital
€33k▼ 30.2%
2024 · €48k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€228k▲ 26.3%
Operating result€26k€8k▼ 69.3%€9k▲ 13.0%€8k▼ 11.7%€-16k
Net result€24k€7k▼ 72.0%€8k▲ 20.1%€6k▼ 31.1%€-17k
EBIT margin11.6%▲ 19.0pp
Equity€46k▲ 109%€47k▲ 3.7%€50k▲ 6.4%€56k▲ 11.0%€39k▼ 29.7%
Total assets€105k▲ 41.2%€108k▲ 3.4%€117k▲ 7.9%€111k▼ 4.6%€114k▲ 2.2%
Debt€59k▲ 12.8%€61k▲ 3.3%€66k▲ 9.0%€55k▼ 16.4%€75k▲ 34.5%
Working capital€46k▲ 86.6%€42k▼ 8.0%€43k▲ 1.3%€48k▲ 10.7%€33k▼ 30.2%
Staff (FTE)4.5▼ 15.1%5.9▲ 31.1%7.7▲ 30.5%7.9▲ 2.6%8.2▲ 3.8%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €16k after €8k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €114k
Fixed assets
€6k ▼ 27.2%
Current assets
€108k ▲ 4.6%
Equity and liabilities €114k
Equity
€39k ▼ 29.7%
Debt
€75k ▲ 34.5%
Debt's share of the balance-sheet total rises from 49.7% to 65.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-14k▼
2024 · €10k
Cash flow
€-14k▼
2024 · €8k
Current ratio
1.45▼
2024 · 1.86
Quick ratio
1.23▼
2024 · 1.60
Debt to equity
1.89▲
2024 · 0.99
ROE
-42.3%▼
2024 · 9.9%
ROA
-14.6%▼
2024 · 5.0%
Interest coverage
-11.24▼
2024 · 5.24
Debt ≤ 1 year
€75k▲
2024 · €55k
Income taxes
€141▼
2024 · €2k
Staff costs
€249k▲
2024 · €220k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €228k | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €112k | - | - | - | - | - |
| Remuneration, social security and pensions62 | €112k | €160k | €216k | €220k | €249k | ▲ 13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2k | €2k | €2k | €2k | €2k | = |
| Other operating charges640/8 | €2k | €3k | €3k | €3k | €3k | ▲ 10.4% |
| Gross operating margin9900 | €143k | €173k | €230k | €233k | €238k | ▲ 2.2% |
| Operating profit (loss)9901 | €26k | €8k | €9k | €8k | €-16k | ▼ 301% |
| Financial income75/76B | - | €293 | €1k | €1k | €1k | ▼ 16.3% |
| Recurring financial income75 | - | €293 | €1k | €1k | €1k | ▼ 16.3% |
| Financial charges65/66B | €1k | €1k | €659 | €2k | €1k | ▼ 37.1% |
| Recurring financial charges65 | €1k | €1k | €659 | €2k | €1k | ▼ 37.1% |
| Profit (loss) for the period before taxes9903 | €25k | €7k | €10k | €7k | €-17k | ▼ 323% |
| Income taxes67/77 | €2k | €650 | €2k | €2k | €141 | ▼ 92.5% |
| Profit (loss) for the period9904 | €24k | €7k | €8k | €6k | €-17k | ▼ 401% |
| Profit (loss) for the period to be appropriated9905 | €24k | €7k | €8k | €6k | €-17k | ▼ 401% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €105k | €108k | €117k | €111k | €114k | ▲ 2.2% |
| Fixed assets21/28 | €12k | €13k | €11k | €8k | €6k | ▼ 27.2% |
| Tangible fixed assets22/27 | €12k | €13k | €11k | €8k | €6k | ▼ 27.5% |
| Plant, machinery and equipment23 | €0 | €0 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | €0 | €0 | €0 | €0 | €0 | - |
| Other tangible fixed assets26 | €12k | €13k | €11k | €8k | €6k | ▼ 27.5% |
| Financial fixed assets28 | €74 | €74 | €74 | €74 | €74 | = |
| Current assets29/58 | €92k | €95k | €106k | €103k | €108k | ▲ 4.6% |
| Stocks and contracts in progress3 | €13k | €13k | €15k | €15k | €16k | ▲ 12.0% |
| Stocks30/36 | €13k | €13k | €15k | €15k | €16k | ▲ 12.0% |
| Amounts receivable within one year40/41 | €15k | €4k | €83 | €61 | €8k | ▲ 13,316% |
| Trade receivables40 | €3k | €0 | €0 | €0 | €0 | - |
| Other amounts receivable41 | €12k | €4k | €83 | €61 | €8k | ▲ 13,316% |
| Cash at bank and in hand54/58 | €65k | €78k | €90k | €87k | €76k | ▼ 12.6% |
| Deferred charges and accrued income490/1 | €0 | €1k | €1k | €1k | €7k | ▲ 477% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €105k | €108k | €117k | €111k | €114k | ▲ 2.2% |
| Equity10/15 | €46k | €47k | €50k | €56k | €39k | ▼ 29.7% |
| Contributions10/11 | €21k | €21k | €19k | €19k | €19k | = |
| Reserves13 | €25k | €27k | €32k | €37k | €34k | ▼ 9.1% |
| Distributable reserves133 | €25k | €27k | €32k | €37k | €34k | ▼ 9.1% |
| Profit (loss) carried forward14 | €0 | - | - | - | €-13k | - |
| Amounts payable17/49 | €59k | €61k | €66k | €55k | €75k | ▲ 34.5% |
| Amounts payable after more than one year17 | €13k | €8k | €3k | €0 | - | - |
| Financial debts170/4 | €13k | €8k | €3k | €0 | - | - |
| Amounts payable within one year42/48 | €46k | €53k | €63k | €55k | €75k | ▲ 34.5% |
| Current portion of amounts payable after more than one year42 | €5k | €5k | €5k | €3k | €0 | ▼ 100% |
| Trade debts44 | €4k | €7k | €12k | €9k | €19k | ▲ 114% |
| Suppliers440/4 | €4k | €7k | €12k | €9k | €19k | ▲ 114% |
| Taxes, remuneration and social security45 | €37k | €42k | €46k | €43k | €54k | ▲ 24.8% |
| Taxes450/3 | €12k | €16k | €18k | €19k | €18k | ▼ 2.9% |
| Remuneration and social security454/9 | €25k | €26k | €28k | €24k | €36k | ▲ 46.1% |
| Other amounts payable47/48 | €0 | €0 | €405 | €120 | €2k | ▲ 1,268% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24k | €7k | €8k | €6k | €-17k | ▼ 401% |
| + Depreciation and write-downs630 | €2k | €2k | €2k | €2k | €2k | = |
| Operating cash flow (approximation) | €26k | €9k | €10k | €8k | €-14k | ▼ 284% |
| Investment in fixed assets (approximation) | - | €-3k | €0 | €0 | €0 | - |
| Change in cash | - | €13k | €12k | €-3k | €-11k | ▼ 276% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
04-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 4 days late
2025
31-12
Financial
Weakest financial yearnet €-17k
Net result drops to €-17k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
2023
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 23 days late
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €24k
Net result €24k after one loss-making year.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
27-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
19-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
24-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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, La Louvière · 1 establishment unit since 2001
Ground area
2.2 ha
Building footprint
6,334 m²
Volume, LiDAR
47,399 m³
Parcel 55022A0356/00Y003, Wallonia · tallest building 15.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GAD SPRL
since 20012.071.976.220
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55022A0356/00Y003 | Wallonia | 2.2 ha | 1 · 6,334 m² | 15.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 21,739 companies in sector 96210 we hold annual accounts for 2,827. 2,209 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
Founded09-03-1995
Fiscal year end31-12
Activities, NACEBEL 2025
96210Hairdressing and barber services
Scores and ratios are computed by Checked and are not a credit decision.