G-PHY
ActiveG-PHY has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €45k and a net result of €618. Equity is growing by ~13.8% per year across the filed fiscal years. Its solvency ranks better than 67% of 27711 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
72
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▲+1
Solvency87▲+31
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3k at 30 days acceptable
Liquidity ample (current ratio 2.65 against 1.46 in 2024; short-term debt: 37.7% and cash: 23% of total assets), and 37.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
62.3%
Return on assets
0.9%
Age of the figures
9 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-04-2026, 93 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
93 d early
2024
44 d early
2023
29 d early
2022
10 d late
2021
68 d early
2020
33 d early
2019
29 d early
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€45k▲ 1.4%
2024 · €44k
2018: €13k
2019: €13k
2020: €28k
2021: €32k
2022: €43k
2023: €44k
2024: €44k
2018 → 2025
Total assets
€71k▼ 49.2%
2024 · €141k
2018: €67k
2019: €54k
2020: €113k
2021: €94k
2022: €80k
2023: €69k
2024: €141k
2018 → 2025
Net result
€618▲ 210%
2024 · €199
2018: €57
2019: €-459
2020: €16k
2021: €4k
2022: €248
2023: €351
2024: €199
2018 → 2025
Working capital
€44k▲ 3.0%
2024 · €43k
2018: €8k
2019: €8k
2020: €8k
2021: €-9k
2022: €19k
2023: €35k
2024: €43k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€32k-€43k▲ 35.5%€44k▲ 0.8%€44k▲ 0.5%€45k▲ 1.4%
Operating result€7k-€2k▼ 63.7%€2k▼ 16.1%€1k▼ 43.5%€1k▲ 10.7%
Net result€4k-€248▼ 93.7%€351▲ 41.5%€199▼ 43.3%€618▲ 210%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 11% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €71k
Fixed assets
€187▼ 94.3%
Current assets
€71k▼ 48.2%
Equity and liabilities €71k
Equity
€45k▲ 1.4%
Debt
€27k▼ 72.2%
The debt ratio falls from 68.8% to 37.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3k▼
2024 · €9k
Cash flow
€2k▼
2024 · €8k
Solvency
62.3%▲
2024 · 31.2%
Current ratio
2.65▲
2024 · 1.46
Quick ratio
2.58▲
2024 · 1.44
Debt / equity
0.60▼
2024 · 2.21
ROE
1.4%▲
2024 · 0.5%
ROA
0.9%▲
2024 · 0.1%
Interest coverage
15.69▼
2024 · 21.23
Debt
€27k▼
2024 · €97k
Debt ≤ 1 year
€27k▼
2024 · €94k
Income taxes
€501▲
2024 · €499
Staff costs
€104▼
2024 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€141k€71k▼
Fixed assets21/28€3k€187▼
Tangible fixed assets22/27€3k-
Furniture and vehicles24€3k-
Financial fixed assets28€187€187=
Current assets29/58€137k€71k▼
Stocks and contracts in progress3€2k€2k▲
Stocks30/36€2k€2k▲
Amounts receivable within one year40/41€75k€50k▼
Trade receivables40€71k€43k▼
Other amounts receivable41€4k€6k▲
Cash at bank and in hand54/58€58k€16k▼
Deferred charges and accrued income490/1€3k€3k▼
Equity and liabilities
Total equity and liabilities10/49€141k€71k▼
Equity10/15€44k€45k▲
Contributions10/11€19k€19k=
Reserves13€379€379=
Distributable reserves133€379€379=
Profit (loss) carried forward14€25k€26k▲
Amounts payable17/49€97k€27k▼
Amounts payable within one year42/48€94k€27k▼
Trade debts44€73k€2k▼
Suppliers440/4€73k€2k▼
Taxes, remuneration and social security45€3k€6k▲
Taxes450/3-€5k
Remuneration and social security454/9€3k€2k▼
Other amounts payable47/48€19k€19k=
Accrued charges and deferred income492/3€2k-
Income statement
Code20242025
Remuneration, social security and pensions62€3k€104▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€1k▼
Other operating charges640/8€635€400▼
Gross operating margin9900€13k€3k▼
Operating profit (loss)9901€1k€1k▲
Financial income75/76B-€24
Recurring financial income75-€24
Financial charges65/66B€441€165▼
Recurring financial charges65€441€165▼
Profit (loss) for the period before taxes9903€698€1k▲
Income taxes67/77€499€501▲
Profit (loss) for the period9904€199€618▲
Profit (loss) for the period to be appropriated9905€199€618▲
Appropriation of the result
Profit (loss) to be appropriated9906€25k€26k▲
Profit (loss) brought forward from the previous period14P€25k€25k▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
10-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 10 days late
2022
24-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €16k
Net result €16k after one loss-making year.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €-459 ▼905%
Net result drops to €-459, the lowest in the series; recovery starts the following year.
17-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-04
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Court-Saint-Etienne · 1 establishment unit since 2013
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue des Ecoles 46A1490 Court-Saint-EtienneGround area
888 m²
Building footprint
99 m²
Volume, LiDAR
853 m³
2 parcels, Wallonia · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue des Hayettes(NSV) 31, 1457 Walhain
since 20132.234.610.774
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25071D0317/00K000 | Wallonia | 651 m² | 1 · 50 m² | 9.7 m · 3 fl. |
| 25023A0095/00R000 | Wallonia | 236 m² | 1 · 49 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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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INDUSTRIE PLUS
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ELISAV
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Of 4,270 companies in sector 43230 we hold annual accounts for 1,240. 1,013 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded15-07-2013
Fiscal year end31-12
Activities, NACEBEL
43230Insulation installation
43291Specialised construction activities
43240Other construction installation
43299Specialised construction activities
43350Other building finishing work
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.