G.D. ENGINEERING
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00495453.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 33 filings
Turnover
€39,000=
2024 · €39,000
EBIT margin
-46.3%▲ 223.3pp
2024 · -269.6%
Net result
€98,227▼ 70.6%
2024 · €334,299
Working capital
€133,490▼ 26.9%
2024 · €182,490
In the rankings
#5 company by total assets in Sint-Pieters-Leeuw, Professional and technical services sector#6 company by equity in Sint-Pieters-Leeuw, Professional and technical services sector#8 oldest company in Sint-Pieters-Leeuw, Professional and technical services sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€39,000
=
2025
20182025
Operating result
-€18,049
▲ 82.8%
2025
20182025
Net result
€98,227
▼ 70.6%
2025
middle half of the sector
20182025
EBIT margin
-46.3%
▲ 223.3pp
2025
20182025
Equity
€3.3m
▲ 3.1%
2025
highest quarter of the sector
20182025
Total assets
€6.3m
▼ 3.3%
2025
highest quarter of the sector
20182025
Debt
€3.0m
▼ 9.5%
2025
20182025
Working capital
€133,490
▼ 26.9%
2025
middle half of the sector
20182025
Solvency
52.6%
▲ 3.2pp
2025
middle half of the sector
20182025
Current ratio
1.23
▼ 0.12
2025
middle half of the sector
20182025
Return on assets (ROA)
1.6%
▼ 3.6pp
2025
middle half of the sector
20182025
Staff (FTE)
0
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.09m€0.1m▲ 9.4%€0.1m▲ 2.8%€0.05m▼ 52.7%€0.04m▼ 18.5%€0.04m=
Operating result-€0.02m--€0.03m▼ 31.2%€1.3m-€0.9m€0.4m€0.03m▼ 93.7%-€0.1m-€0.02m▲ 82.8%
Net result€0.3m-€0.03m▼ 87.9%-€0.5mbelow the sector's middle half-€1.0mbelow the sector's middle half▼ 90.2%€0.4mabove the sector's middle half-€0.1mbelow the sector's middle half€0.3mabove the sector's middle half€0.1mwithin the sector's middle half▼ 70.6%
EBIT margin1443.5%-951.0%▼ 2394.5pp422.1%▲ 1373.1pp55.9%▼ 366.2pp-269.6%▼ 325.5pp-46.3%▲ 223.3pp
Equity€3.1m-€3.1m▲ 1.0%€2.6mabove the sector's middle half▼ 16.7%€2.6mabove the sector's middle half▲ 0.5%€3.0mabove the sector's middle half▲ 14.5%€2.9mabove the sector's middle half▼ 3.7%€3.2mabove the sector's middle half▲ 11.7%€3.3mabove the sector's middle half▲ 3.1%
Total assets€8.4m-€7.8m▼ 7.4%€7.4mabove the sector's middle half▼ 5.1%€7.4mabove the sector's middle half▲ 1.0%€7.0mabove the sector's middle half▼ 6.5%€6.7mabove the sector's middle half▼ 4.0%€6.5mabove the sector's middle half▼ 2.9%€6.3mabove the sector's middle half▼ 3.3%
Debt€5.3m-€4.7m▼ 12.2%€4.4m▼ 4.6%€4.5m▲ 1.3%€3.6m▼ 19.1%€3.5m▼ 4.7%€3.3m▼ 5.5%€3.0m▼ 9.5%
Working capital€0.6m-€0.2m▼ 61.6%€1.6mabove the sector's middle half▲ 554%€0.5mabove the sector's middle half▼ 67.0%€0.03mwithin the sector's middle half▼ 93.9%€0.9mabove the sector's middle half▲ 29×€0.2mwithin the sector's middle half▼ 80.3%€0.1mwithin the sector's middle half▼ 26.9%
Solvency36.7%-40.0%▲ 3.3pp35.1%within the sector's middle half▼ 4.9pp34.9%within the sector's middle half▼ 0.2pp42.8%within the sector's middle half▲ 7.8pp42.9%within the sector's middle half▲ 0.2pp49.4%within the sector's middle half▲ 6.5pp52.6%within the sector's middle half▲ 3.2pp
Current ratio2.06-1.75▼ 0.315.47above the sector's middle half▲ 3.721.65within the sector's middle half▼ 3.821.11within the sector's middle half▼ 0.543.61above the sector's middle half▲ 2.501.35within the sector's middle half▼ 2.271.23within the sector's middle half▼ 0.12
Return on assets (ROA)3.1%-0.4%▼ 2.7pp-7.0%below the sector's middle half▼ 7.5pp-13.3%below the sector's middle half▼ 6.2pp5.4%within the sector's middle half▲ 18.7pp-1.6%below the sector's middle half▼ 7.0pp5.2%within the sector's middle half▲ 6.8pp1.6%within the sector's middle half▼ 3.6pp
Staff (FTE)1-0.8▼ 20.0%0.8below the sector's middle half=1below the sector's middle half▲ 25.0%0.9below the sector's middle half▼ 10.0%0.8below the sector's middle half▼ 11.1%0below the sector's middle half▼ 100%0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €18,049, smaller than the loss of €105,128 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.3m
Fixed assets
€5.5m ▼ 3.8%
Current assets
€717,117 ▲ 1.1%
Equity and liabilities €6.3m
Equity
€3.3m ▲ 3.1%
Debt
€3.0m ▼ 9.5%
Debt's share of the balance-sheet total falls from 50.6% to 47.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€201,422▲
2024 · €114,343
Cash flow
€317,698▼
2024 · €553,770
Debt to equity
0.90▼
2024 · 1.03
ROE
3.0%▼
2024 · 10.5%
Interest coverage
4.90▲
2024 · 2.52
Debt ≤ 1 year
€583,627▲
2024 · €526,747
Debt > 1 year
€1.5m▼
2024 · €1.7m
Income taxes
-€6,242▼
2024 · €115,658
Customer credit
4379 days▲
2024 · 284 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 0 |
| full-time | 1 | - | - | 0 |
| part-time | - | 1 | 1 | 0 |
| in full-time equivalents | 1 | 0.8 | 0.8 | - |
| Average over the year, in full-time equivalents | 1 | 0.9 | 0.8 | 0.3 |
| On a permanent contract | 1 | 1 | 1 | 0 |
| Joined | - | - | - | 0 |
| Left | - | - | - | 1 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €2.5m | €2.3m | €2.2m | €1.9m | €1.7m |
| Mortgages, amount registered | €25,000 | - | €25,000 | €25,000 | €25,000 |
| Mortgage mandates | €800,000 | - | €800,000 | €800,000 | €800,000 |
| Carrying value of the mortgaged assets | €3.2m | - | €2.9m | €2.7m | €2.5m |
| Pledge on other assets, amount secured | €70,000 | - | - | - | - |
| Carrying value of the other pledged assets | €70,000 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €3,625 | €122,802 | - | - |
| Depreciation and write-downs of the year | €247,181 | €227,967 | €226,372 | €219,471 | €219,471 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is VRC BEDRIJFSREVISOREN.
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | - | - | €3,600 | €3,735 | €3,815 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €0.3m | €0.9m | €0.5m | €0.5m | €0.5m | ▼ 2.6% |
| Turnover70 | - | - | €0.09m | €0.1m | €0.1m | €0.05m | €0.04m | €0.04m | = |
| Other operating income74 | - | - | - | €0.09m | €0.7m | €0.3m | €0.3m | €0.3m | ▼ 4.1% |
| Non-recurring operating income76A | - | - | - | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Operating charges60/66A | - | - | - | €1.3m | €0.5m | €0.4m | €0.6m | €0.5m | ▼ 17.3% |
| Services and other goods61 | - | - | - | €1.0m | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 28.7% |
| Remuneration, social security and pensions62 | - | - | - | €0.04m | €0.04m | €0.02m | €0.007m | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Other operating charges640/8 | - | - | - | €0.02m | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 2.3% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €0.001m | - | - |
| Gross operating margin9900 | €0.3m | €0.3m | - | - | - | - | - | - | - |
| Operating profit (loss)9901 | -€0.02m | -€0.03m | €1.3m | -€0.9m | €0.4m | €0.03m | -€0.1m | -€0.02m | ▲ 82.8% |
| Financial income75/76B | - | - | - | €0.01m | €0.004m | €0.09m | €0.3m | €0.2m | ▼ 46.1% |
| Recurring financial income75 | €0.3m | €0.02m | €0.1m | €0.01m | €0.004m | €0.03m | €0.3m | €0.2m | ▼ 46.1% |
| Income from financial fixed assets750 | - | - | - | - | - | - | €0.2m | €0.1m | ▼ 54.0% |
| Income from current assets751 | - | - | - | €0.01m | €0.004m | €0.03m | €0.04m | €0.04m | ▲ 8.9% |
| Other financial income752/9 | - | - | - | €100 | €113 | €314 | €12 | - | - |
| Non-recurring financial income76B | - | - | - | - | - | €0.06m | - | - | - |
| Financial charges65/66B | - | - | - | €0.06m | €0.06m | €0.2m | €0.07m | €0.04m | ▼ 36.6% |
| Recurring financial charges65 | €0.07m | €0.07m | €0.06m | €0.06m | €0.06m | €0.05m | €0.07m | €0.04m | ▼ 36.6% |
| Debt charges650 | - | - | €0.06m | €0.06m | €0.05m | €0.05m | €0.05m | €0.04m | ▼ 9.4% |
| Other financial charges652/9 | - | - | - | €0.001m | €0.003m | €0.001m | €0.02m | €0.002m | ▼ 92.2% |
| Non-recurring financial charges66B | - | - | - | - | - | €0.2m | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.06m | -€0.2m | -€1.0m | €0.4m | -€0.1m | €0.1m | €0.09m | ▼ 17.0% |
| Transfer from deferred taxes780 | - | - | - | - | - | - | €0.3m | - | - |
| Income taxes67/77 | €0.03m | €0.02m | €0.02m | - | - | €309 | €0.1m | -€0.006m | - |
| Taxes670/3 | - | - | - | - | - | €309 | €0.1m | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | - | - | - | €0.006m | - |
| Profit (loss) for the period9904 | €0.3m | €0.03m | -€0.5m | -€1.0m | €0.4m | -€0.1m | €0.3m | €0.1m | ▼ 70.6% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | €1.0m | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.03m | -€1.5m | -€1.0m | €0.4m | -€0.1m | €1.4m | €0.1m | ▼ 92.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €8.4m | €7.8m | €7.4m | €7.4m | €7.0m | €6.7m | €6.5m | €6.3m | ▼ 3.3% |
| Formation expenses20 | €0.09m | €0.06m | €0.04m | €0.01m | €0 | €0 | - | - | - |
| Fixed assets21/28 | €7.1m | €7.1m | €5.4m | €6.1m | €6.6m | €5.4m | €5.8m | €5.5m | ▼ 3.8% |
| Tangible fixed assets22/27 | €3.1m | €2.7m | €2.5m | €3.2m | €3.0m | €2.9m | €2.7m | €2.5m | ▼ 8.1% |
| Land and buildings22 | - | - | - | €0.002m | €0 | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.004m | €0.002m | - | - | - |
| Leasing and similar rights25 | - | - | - | €3.2m | €3.0m | €2.9m | €2.7m | €2.5m | ▼ 8.1% |
| Financial fixed assets28 | €4.0m | €4.4m | €2.9m | €2.9m | €3.6m | €2.5m | €3.1m | €3.1m | = |
| Affiliated companies280/1 | - | - | - | €2.7m | €3.4m | €2.5m | €3.1m | €3.1m | = |
| Participating interests280 | - | - | - | €2.7m | €2.7m | €2.5m | €2.5m | €2.5m | = |
| Amounts receivable281 | - | - | - | €0 | €0.8m | €0 | €0.6m | €0.6m | = |
| Other financial fixed assets284/8 | - | - | - | €0.2m | €0.2m | €0 | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.2m | €0.2m | €0 | - | - | - |
| Current assets29/58 | €1.2m | €0.6m | €1.9m | €1.3m | €0.3m | €1.3m | €0.7m | €0.7m | ▲ 1.1% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €0.1m | €0.1m | €0.09m | ▼ 16.7% |
| Other amounts receivable291 | - | - | - | - | - | €0.1m | €0.1m | €0.09m | ▼ 16.7% |
| Amounts receivable within one year40/41 | €0.9m | €0.2m | €1.7m | €1.0m | €0.2m | €0.2m | €0.5m | €0.5m | ▼ 9.9% |
| Trade receivables40 | - | - | - | €0.009m | €0.01m | €0 | €0.03m | - | - |
| Other amounts receivable41 | - | - | - | €1.0m | €0.2m | €0.2m | €0.5m | €0.5m | ▼ 4.3% |
| Cash at bank and in hand54/58 | €0.3m | €0.4m | €0.2m | €0.3m | €0.1m | €0.9m | €0.08m | €0.2m | ▲ 94.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.001m | €0.001m | €436 | €372 | ▼ 14.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €8.4m | €7.8m | €7.4m | €7.4m | €7.0m | €6.7m | €6.5m | €6.3m | ▼ 3.3% |
| Equity10/15 | €3.1m | €3.1m | €2.6m | €2.6m | €3.0m | €2.9m | €3.2m | €3.3m | ▲ 3.1% |
| Contributions10/11 | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Capital10 | - | - | - | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Issued capital100 | - | - | - | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Revaluation surpluses12 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €0.1m | €0.2m | €1.2m | €1.2m | €1.2m | €1.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Tax-exempt reserves132 | - | - | - | €1.0m | €1.0m | €1.0m | €0.008m | €0.008m | = |
| Profit (loss) carried forward14 | - | - | -€1.5m | -€2.5m | -€2.1m | -€2.3m | -€0.9m | -€0.8m | ▲ 10.9% |
| Provisions and deferred taxes16 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0 | - | - |
| Deferred taxes168 | - | - | - | €0.3m | €0.3m | €0.3m | €0 | - | - |
| Amounts payable17/49 | €5.3m | €4.7m | €4.4m | €4.5m | €3.6m | €3.5m | €3.3m | €3.0m | ▼ 9.5% |
| Amounts payable after more than one year17 | €2.8m | €2.6m | €2.5m | €2.3m | €2.0m | €1.9m | €1.7m | €1.5m | ▼ 13.3% |
| Financial debts170/4 | - | - | - | €2.3m | €2.0m | €1.9m | €1.7m | €1.5m | ▼ 13.3% |
| Leasing and similar obligations172 | - | - | - | €2.2m | €2.0m | €1.9m | €1.7m | €1.5m | ▼ 13.3% |
| Credit institutions173 | - | - | - | €0.01m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.6m | €0.3m | €0.4m | €0.8m | €0.3m | €0.4m | €0.5m | €0.6m | ▲ 10.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 2.2% |
| Financial debts43 | - | - | - | - | €0.007m | - | - | €0.08m | - |
| Credit institutions430/8 | - | - | - | - | €0.007m | - | - | €0.08m | - |
| Trade debts44 | €0.01m | €0.009m | €0.08m | €0.4m | €0.02m | €0.01m | €0.2m | €0.04m | ▼ 74.2% |
| Suppliers440/4 | - | - | - | €0.4m | €0.02m | €0.01m | €0.2m | €0.04m | ▼ 74.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.04m | €0.003m | €0.1m | €0.1m | ▼ 4.6% |
| Taxes450/3 | - | - | - | €0.03m | €0.03m | €0.001m | €0.1m | €0.1m | ▼ 4.6% |
| Remuneration and social security454/9 | - | - | - | €0.009m | €0.01m | €0.002m | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.1m | - | €0.1m | - | €0.1m | - |
| Accrued charges and deferred income492/3 | - | - | - | €1.5m | €1.3m | €1.2m | €1.0m | €0.9m | ▼ 13.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.03m | -€0.5m | -€1.0m | €0.4m | -€0.1m | €0.3m | €0.1m | ▼ 70.6% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Operating cash flow (approximation) | €0.5m | €0.3m | -€0.3m | -€0.7m | €0.6m | €0.1m | €0.6m | €0.3m | ▼ 42.6% |
| Investment in fixed assets (approximation) | - | -€0.3m | €1.5m | -€1.0m | -€0.7m | €1.0m | -€0.6m | €0 | - |
| Change in cash | - | €0.02m | -€0.2m | €0.2m | -€0.2m | €0.8m | -€0.8m | €0.08m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,887 companies had the same profile as G.D. ENGINEERING has now. Two years later, 97.9% were still going and 0.1% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
97.9%
was still going
2.0%
stopped otherwise
0.1%
went bankrupt
That fits the bankruptcy probability of G.D. ENGINEERING itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,887 companies, not a prediction for G.D. ENGINEERING. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00495453 | |
| 31-12-2024 | full format | 23-08-2025 | 2025-00405764 | |
| 31-12-2023 | full format | 12-07-2024 | 2024-00239961 | |
| 31-12-2022 | full format | 24-08-2023 | 2023-00348483 | |
| 31-12-2021 | full format | 22-06-2022 | 2022-20082250 | |
| 31-12-2020 | full format | 30-06-2021 | 2021-29500062 | |
| 31-12-2019 | abbreviated format | 25-06-2020 | 2020-23000203 | |
| 31-12-2018 | abbreviated format | 30-06-2019 | 2019-26800478 | |
| 31-12-2017 | abbreviated format | 29-06-2018 | 2018-25900445 | |
| 31-12-2016 | abbreviated format | 05-05-2017 | 2017-11000279 |