Equity
€44,505 ▲ 1.4%
G-PHY has made a profit without a break since 2020.
G-PHY
Lifetime
12 annual accounts with figures on one time axispeak €46,723 (2021)
€3,096▼ 76.7%
lowest -€459 (2019)
€618▲ 210%
peak €44,505 (2025)
€44,505▲ 1.4%
€26,925▼ 72.2%
Board1 name since 2021
1 directorMinet Jérôme Sébastien
Owners4 names in the annual accounts
Documentsfilings and deeds
29-04-202693 days before the deadline
2025micro format
Gross margin from €13,275 to €3,096Result from €199 to €618Debts from €96,821 to €26,925Cash from €57,604 to €16,438
Key points
from the 2025 annual accountsChecked score
89
Excellent
Financially stronger than 51% of micro companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025lowest value
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.2%▲ +0.1 percentage points vs 06-2025
08-2025: 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.2%▲ +0.1 percentage points vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026highest value
07-2026: 0.2%● unchanged vs 06-2026highest value
08-2026: 0.2%● unchanged vs 07-2026highest value
09-2026: 0.2%● unchanged vs 08-2026highest value
10-2026: 0.2%● unchanged vs 09-2026highest value
11-2026: 0.2%● unchanged vs 10-2026highest value
Financial strengthStrong
Score breakdown
raises risk
Size: total assets €71,429
Sector: Specialised construction activities (NACE 43)
lowers risk
Liquidity: current ratio 2.65, cash €16,438, halved
Founded in 2013
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 43, micro). It does better than 68% of them on solvency, 59% on liquidity, 37% on profitability and 39% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
Comparable companies, two years later
In July 2024, 10,904 companies had the same profile as G-PHY has now. Each dot stands for 28 companies, two years later.
95.2%
were still trading
4.0%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of G-PHY itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,447 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 10,904 companies, not a prediction for G-PHY. 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.
Credit verdict
Credit of up to €3,500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.65 (1.46 in 2024), above the usual 1.5. Short-term debt is 37.7% and cash 23% of total assets. 37.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 days early
2024
44 days early
2023
29 days early
2022
10 days late
2021
68 days early
2020
33 days early
2019
29 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 41 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 June (4 of the last 5 accounts filed within 49 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Jérôme Minet 60%annual accounts 2017
- Philippe Vriamont 40%annual accounts 2017
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0536789189
Registered office moved within Court-Saint-Etienne
New registered office: Rue des Ecoles 46 A, 1490 Court-Saint-Etienne · Previous registered office: Rue des Ecoles 46A à 1490 Court-Saint-Etienne · Resignation: Minet Jérôme Sébastien (director) · General meeting of 24-11-2023 · Gazette deed
Registered office moved from Walhain to Court-Saint-Etienne
New registered office: Rue des Ecoles 46A à 1490 Court-Saint-Etienne · Previous registered office: Rue des Hayettes 35 à 1457 Walhain · Gazette deed
First establishment
Rue des Hayettes 31, Walhain
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| G-PHY Court-Saint-Etienne | €71,429 | €3,096 | 62.3% | - |
| A.C.I. SECURITY Mons | €75,449 | €4,958 | 67.3% | - |
| ISO-BEN Brussels | €77,827 | €5,759 | 95.0% | - |
| ARTCLIMA Molenbeek-Saint-Jean | €114,088 | €2,220 | 23.8% | - |
| CEDA SERVICES Forest | €70,867 | €2,150 | 70.0% | - |
| ISOLATIEWERKEN DE CLERCQ-MALEGO Dentergem | €62,960 | €6,466 | 69.5% | - |
| T.A. SYSTEMS Bree | €111,509 | €5,119 | 60.7% | - |
These companies have the same main activity as G-PHY: insulation installation (NACE 43230). They are comparable in size and age: total assets between €63,000 and €114,000, founded between 2009 and 2018.
Official details
Source: KBO- Status
- Active since 15-07-2013Normal situation
- Activity
- Insulation installationNACE 43230and 2 others
- Establishment unit
- 2.234.610.7741457 Walhain, since 18-07-2013
- Financial year end
- 31 December
- Peppol
- Reachable since 29-05-2026
Annual accounts 2025
- €71,429▼ 49.2%
- Filing
- Filed on 29-04-2026, 93 days before the end of the filing period
Insights on G-PHY
G-PHY files the micro format. That format states no turnover. The gross margin fell from €6,753 in 2014 to €3,096 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about G-PHY
- What is the company number of G-PHY?
- The company number of G-PHY is 0536.789.189. The VAT number is the same number with BE in front: BE 0536.789.189.
- Where is G-PHY based?
- The registered office is at Rue des Ecoles 46A, 1490 Court-Saint-Etienne.Company details
- What does G-PHY do?
- According to the KBO register, the main activity is insulation installation (NACE 43230).
- What is the legal form of G-PHY?
- G-PHY is a private limited company (BV).
- When was G-PHY founded?
- G-PHY was founded on 15-07-2013.
- Is G-PHY still active?
- Yes, G-PHY is an active enterprise in the KBO register.
- What is the turnover of G-PHY?
- The turnover in financial year 2025 is ≈ €29,000. This figure is estimated from the gross margin of €3,096 and 32 comparable companies (NACE 43230). It probably lies between €16,000 and €66,000. It is a rough estimate.Financials
- Is G-PHY profitable?
- In financial year 2025, G-PHY made a profit of €618.
- Where can I find the annual accounts of G-PHY?
- G-PHY filed 12 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of G-PHY due?
- G-PHY must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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