G.A.P.
Annual accounts 2025
micro format, filed on 07-08-2026, 7 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €460,000. Estimated: probably between €380,000 and €800,000.
Balance sheet
balance sheet total €325,415 on 31-12-2025in euro
in euro
Position in the sector
56.9%
Higher than 51% of 39,364 companies in 2025.
7.20
Higher than 85% of 38,048 companies in 2025.
75.1%
Higher than 95% of 38,520 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
325,415 | 518,135 | 459,732 | 419,908 | |
21/28 |
186,599 | 192,873 | 200,411 | 192,592 | |
22/27 |
186,599 | 192,873 | 200,411 | 192,592 | |
22 |
180,105 | 185,258 | 190,411 | 180,207 | |
23 |
- | 47 | 604 | 1,162 | |
24 |
6,494 | 7,568 | 9,396 | 11,223 | |
29/58 |
138,815 | 325,262 | 259,321 | 227,316 | |
40/41 |
108,641 | 261,772 | 9,458 | 1,478 | |
40 |
- | 2,858 | 9,075 | - | |
41 |
108,641 | 258,914 | 383 | 1,478 | |
50/53 |
- | - | 200,000 | - | |
54/58 |
26,207 | 61,105 | 44,114 | 222,225 | |
490/1 |
3,968 | 2,385 | 5,748 | 3,612 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
325,415 | 518,135 | 459,732 | 419,908 | |
10/15 |
185,199 | 186,900 | 215,855 | 215,853 | |
10/11 |
1,000 | 1,000 | 1,000 | 1,000 | |
13 |
169,700 | 185,900 | 185,900 | 185,900 | |
133 |
169,700 | 185,900 | 185,900 | 185,900 | |
14 |
14,499 | - | 28,955 | 28,953 | |
17/49 |
140,216 | 331,235 | 243,876 | 204,055 | |
17 |
120,395 | 132,501 | 144,440 | 156,212 | |
170/4 |
120,395 | 132,501 | 144,440 | 156,212 | |
42/48 |
19,270 | 195,416 | 99,229 | 47,548 | |
42 |
13,108 | 12,926 | 12,746 | 12,569 | |
44 |
942 | 86 | 5,460 | 18,112 | |
440/4 |
942 | 86 | 5,460 | 18,112 | |
45 |
5,220 | 3,033 | 5,053 | 12,164 | |
450/3 |
5,220 | 991 | 3,011 | 10,170 | |
454/9 |
- | 2,043 | 2,043 | 1,993 | |
47/48 |
- | 179,371 | 75,969 | 4,703 | |
492/3 |
552 | 3,318 | 208 | 295 | |
| Income statement | |||||
9900 |
318,787 | 233,865 | 104,041 | 75,392 | |
630 |
6,274 | 7,538 | 7,454 | 3,911 | |
640/8 |
1,022 | 938 | 3,595 | 20,391 | |
9901 |
311,491 | 225,389 | 92,992 | 51,089 | |
75/76B |
11,080 | 10,621 | 2,902 | - | |
75 |
11,080 | 10,621 | 2,902 | - | |
65/66B |
2,713 | 3,256 | 3,340 | 3,473 | |
65 |
2,713 | 3,256 | 3,340 | 3,473 | |
9903 |
319,858 | 232,753 | 92,554 | 47,616 | |
67/77 |
75,359 | 53,383 | 19,362 | 12,773 | |
9904 |
244,499 | 179,371 | 73,193 | 34,843 | |
9905 |
244,499 | 179,371 | 73,193 | 34,843 | |
| Appropriation of the result | |||||
9906 |
244,499 | 208,326 | 102,145 | 64,553 | |
14P |
- | 28,955 | 28,953 | 29,710 | |
791/2 |
16,200 | - | - | - | |
691/2 |
- | - | - | 34,800 | |
6921 |
- | - | - | 34,800 | |
694/7 |
246,200 | 208,326 | 73,190 | 800 | |
694 |
246,200 | 208,326 | 73,190 | 800 | |
| Document | |||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 07-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 7 days after the deadline. Filed on 7 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00390146.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 317,765 | 232,927 | 100,446 | 55,000 | ||
| 250,772 | 186,909 | 80,647 | 38,754 | ||
| 0 | 0 | 15,273 | 105,172 | ||
| -34,898 | 16,991 | -178,111 | - | ||
| 119,546 | 129,846 | 160,092 | 179,768 | ||
| 56.9% | 36.1% | 47.0% | 51.4% | ||
| 7.20 | 1.66 | 2.61 | 4.78 | ||
| 0.76 | 1.77 | 1.13 | 0.95 | ||
| 132.0% | 96.0% | 33.9% | 16.1% | ||
| 75.1% | 34.6% | 15.9% | 8.3% | ||
| over 100 | 71.53 | 30.08 | 15.84 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Securities and guarantees
on own assets and for others| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Mortgages, amount registered | €25,000 | €25,000 | €25,000 | €25,000 |
| €162,750 | €162,750 | €162,750 | €162,750 | |
| Carrying value of the mortgaged assets | €180,105 | €185,258 | €190,411 | €180,207 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €15,273 | €105,172 |
| €6,274 | €7,538 | €7,454 | €3,911 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on G.A.P.
The operating result for 2025 is 38% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Debt's share of the balance-sheet total falls from 63.9% to 43.1%. Equity and debt are lower.