G & D PROJECTS
ActiveSummary
G & D PROJECTS has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€254,458) and a net result of €41,016. Equity has been shrinking by about 21% per year since 2019. Its solvency ranks better than 7% of 17,145 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 28-01-2000 Normal situation
- Activity
- Real estate agency activities NACE 68310and 2 others
- Establishment unit
- 2.100.704.848 8530 Harelbeke, since 11-04-2000
- Financial year end
- 30 September
- Peppol
- Reachable since 14-02-2026
Board and ownership
- Marianne LAHOUSSEDirector · since 28-12-2023
- Pascal HOSTEDirector · since 28-12-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.7%
- Gross margin
- €52,049
- Turnover
- ≈ €110,000
- estimated
- Profit
- €41,016
- Equity
- -€254,458
- ▲ 13.9%
- Total assets
- €565,368
- ▲ 8.9%
- Negative equity on 30-09-2025
Score breakdownraises riskCapped at 59: negative equityNegative equity -€254,458Liquidity: current ratio 0.69, cash €956, halvedlowers riskSize: total assets €565,368Sector: Real estate activities (NACE 68)Show the evidence
Checked score
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 5% of them on solvency, 3% on liquidity, 74% on profitability and 70% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 22 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 16-04-2026 PDF all 25 filings
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is a profit of €45,871, after a loss of €20,704 in 2024. It is the highest result since 2021.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €149 | €295 | €295 | €145 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €2,668 | €5,391 | €5,613 | €6,178 | ▲ 10.1% |
| Gross operating margin9900 | €14,601 | -€68,339 | -€56,805 | -€36,087 | -€16,266 | -€14,945 | €52,049 | - |
| Operating profit (loss)9901 | €14,147 | -€69,545 | -€58,073 | -€39,050 | -€21,951 | -€20,704 | €45,871 | - |
| Financial income75/76B | - | - | - | €633 | €535 | €530 | €537 | ▲ 1.3% |
| Recurring financial income75 | €4,027 | €3,808 | €3,201 | €633 | €535 | €530 | €537 | ▲ 1.3% |
| Financial charges65/66B | - | - | - | €13,710 | €41,574 | €5,364 | €5,391 | ▲ 0.5% |
| Recurring financial charges65 | €11,253 | €12,339 | €12,465 | €13,710 | €41,574 | €5,364 | €5,391 | ▲ 0.5% |
| Profit (loss) for the period before taxes9903 | €6,921 | -€78,077 | -€67,337 | -€52,126 | -€62,990 | -€25,538 | €41,016 | - |
| Income taxes67/77 | €4,595 | - | €133 | €281 | €300 | €77 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €2,326 | -€78,077 | -€67,470 | -€52,407 | -€63,290 | -€25,615 | €41,016 | - |
| Profit (loss) for the period to be appropriated9905 | €2,326 | -€78,077 | -€67,470 | -€52,407 | -€63,290 | -€25,615 | €41,016 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €333,928 | €244,359 | €55,366 | €374,447 | €525,823 | €519,386 | €565,368 | ▲ 8.9% |
| Fixed assets21/28 | - | - | €735 | €440 | €145 | €0 | - | - |
| Tangible fixed assets22/27 | - | - | €735 | €440 | €145 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €440 | €145 | €0 | - | - |
| Current assets29/58 | €333,928 | €244,359 | €54,631 | €374,007 | €525,678 | €519,386 | €565,368 | ▲ 8.9% |
| Stocks and contracts in progress3 | - | - | - | €319,678 | €468,591 | €468,570 | €528,067 | ▲ 12.7% |
| Stocks30/36 | - | - | - | €319,678 | €444,152 | €444,152 | €444,152 | = |
| Contracts in progress37 | - | - | - | - | €24,439 | €24,418 | €83,915 | ▲ 244% |
| Amounts receivable within one year40/41 | €268,260 | €225,631 | €45,371 | €51,738 | €42,255 | €47,766 | €35,879 | ▼ 24.9% |
| Trade receivables40 | - | - | - | €6,113 | €50 | €3,500 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €45,625 | €42,205 | €44,267 | €35,879 | ▼ 18.9% |
| Cash at bank and in hand54/58 | €65,667 | €18,728 | €8,862 | €2,167 | €14,398 | €2,608 | €956 | ▼ 63.4% |
| Deferred charges and accrued income490/1 | - | - | - | €424 | €433 | €442 | €466 | ▲ 5.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €333,928 | €244,359 | €55,366 | €374,447 | €525,823 | €519,386 | €565,368 | ▲ 8.9% |
| Equity10/15 | -€44,438 | -€122,514 | -€189,984 | -€242,391 | -€305,681 | -€295,474 | -€254,458 | ▲ 13.9% |
| Contributions10/11 | €18,600 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €75,653 | €75,653 | €75,653 | €75,653 | €75,653 | €75,653 | €75,653 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | €73,793 | €73,793 | €75,653 | €75,653 | = |
| Profit (loss) carried forward14 | -€138,690 | -€216,767 | -€284,237 | -€336,644 | -€399,934 | -€389,727 | -€348,711 | ▲ 10.5% |
| Amounts payable17/49 | €378,365 | €366,873 | €245,351 | €616,838 | €831,505 | €814,860 | €819,825 | ▲ 0.6% |
| Amounts payable within one year42/48 | €378,365 | €366,873 | €245,351 | €616,838 | €831,505 | €814,860 | €819,825 | ▲ 0.6% |
| Trade debts44 | €72,422 | €24,657 | €111 | €673 | €4,412 | €6,265 | €7,469 | ▲ 19.2% |
| Suppliers440/4 | - | - | - | €673 | €4,412 | €6,265 | €7,469 | ▲ 19.2% |
| Taxes, remuneration and social security45 | - | - | - | €4,695 | €13,952 | €1,282 | €1,211 | ▼ 5.5% |
| Taxes450/3 | - | - | - | €4,695 | €13,952 | €1,282 | €1,211 | ▼ 5.5% |
| Other amounts payable47/48 | - | - | - | €611,469 | €813,141 | €807,312 | €811,144 | ▲ 0.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,326 | -€78,077 | -€67,470 | -€52,407 | -€63,290 | -€25,615 | €41,016 | - |
| + Depreciation and write-downs630 | - | - | €149 | €295 | €295 | €145 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €2,326 | -€78,077 | -€67,321 | -€52,112 | -€62,995 | -€25,470 | €41,016 | - |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | €0 | - | - |
| Change in cash | - | -€46,939 | -€9,866 | -€6,695 | €12,231 | -€11,790 | -€1,652 | ▲ 86.0% |
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, 317 companies had the same profile as G & D PROJECTS has now. Two years later, 91.8% were still going and 1.6% had gone bankrupt.
- Small
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
Another 2.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of G & D PROJECTS itself: 0.7% 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 317 companies, not a prediction for G & D PROJECTS. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 16-04-2026 | 2026-00080470 | |
| 30-09-2024 | micro format | 31-03-2025 | 2025-00058004 | |
| 30-09-2023 | micro format | 24-04-2024 | 2024-00067600 | |
| 30-09-2022 | micro format | 28-03-2023 | 2023-00046305 | |
| 30-09-2021 | micro format | 30-03-2022 | 2022-09000448 | |
| 30-09-2020 | micro format | 22-03-2021 | 2021-08000027 | |
| 30-09-2019 | micro format | 29-04-2020 | 2020-10100502 | |
| 30-09-2018 | micro format | 19-03-2019 | 2019-07200271 | |
| 30-09-2017 | micro format | 28-03-2018 | 2018-07900335 | |
| 30-09-2016 | abbreviated format | 26-04-2017 | 2017-10800159 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 02-04-2024 Converted to unavailable equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Marianne LAHOUSSE |
|
| Pascal HOSTE |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “10.4”
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Wettelijke bepalingen inzake ontbinding, slechts ontbonden bij beslissing algemene vergadering beraadslagend als statutenwijziging,hetzij…”
Articles of association, deed of 02-04-2024 (in Dutch)
Network & group
G & D PROJECTS shares no director with another company.
Companies at the same address
8 other companies- BERHOVAN Registered office · since 2023 0798282581
- THV PARC Registered office · since 2016 0681373431
- THV MOZART Registered office · since 2015 0638887530
- MEKO Registered office · since 2012 0845296404
- HB Promotions Registered office · since 2011 0841742937
- THV Belle Arti Registered office · since 2010 0829699693
- OIKODOMEO Registered office · since 2003 0862145896
- AEDIFICARE Registered office · since 2002 0478116562
Connections & network
2 current directorsThe network starts from the directors of G & D PROJECTS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
02-04
Gazette deed
Changes of role: Pascal HOSTE (director) and Marianne LAHOUSSE (director)Capital conversion · Reserve release · Amendment of the articles12 points ▸
- General meeting, 28-12-2023
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing statutair onbeschikbare eigen vermogensrekening, vormen en meerderheden statutenwijziging” (deed in Dutch)
- Other provision, “vaststelling rechtsvorm en statutenwijziging, statuten aanpassen aan WVV en rechtsvorm behouden” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Director resignation, Pascal HOSTE (manager)
- Director resignation, Marianne LAHOUSSE (manager)
- Director discharge, Pascal HOSTE
- Director discharge, Marianne LAHOUSSE
- Director appointment, Pascal HOSTE (director (not named in the articles))
- Director appointment, Marianne LAHOUSSE (director (not named in the articles))
- Power of attorney
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
11 activities
- Onderneming in onroerende goederen
- Bouwpromotor
- Het verlenen van alle mogelijke diensten
- Het kopen,verkopen,huren,verhuren,beheren en exploiteren van roerende en onroerende goederen
- Tussenpersoon in de handel
- De aankoop en verkoop,invoer en uitvoer van diverse handelsgoederen
- Algemene bouwonderneming in coördinatie met de onderaannemers
- Door middel van inbreng,fusie,inschrijving of op gelijk welke andere wijze belangen nemen in,of samenwerken met alle verenigingen,zaken,ondernemingen of vennootschappen die een identiek,gelijkaardig of aanverwant voorwerp hebben aan het hare of die van die aard kunnen zijn de ontwikkeling van de onderneming te begunstigen of rechtstreeks of onrechtstreeks de verwezenlijking van haar maatschappelijk doel kunnen bewerkstelligen
- Zowel in België als in het buitenland,alle daden stellen van burgerlijke of commerciële aard,roerende,onroerende,industriële of financiële aard,welke rechtstreeks of onrechtstreeks,geheel of gedeeltelijk in verband staan met haar voorwerp
- Alle roerende en onroerende goederen verwerven,zelfs indien deze geen rechtstreeks of onrechtstreeks verband houden met het voorwerp
- De functies van beheerder of vereffenaar in andere vennootschappen uitoefenen
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0470.145.439
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34322B0307/00V002 | Flanders | 769 m² | 1 · 156 m² | 9.5 m · 2 |