G.S.
ActiveSummary
G.S. has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €28,972 and a net result of -€7,695. Equity is shrinking by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 44% of 36378 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability5▲+4
Solvency66▲+3
Growth32=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 1.52 against 1.44 in 2023; short-term debt: 58.9% and cash: 35.6% of total assets), but 58.9% of the assets are financed with debt.
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Signals
Five 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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
41.1%
Return on assets
-10.9%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€7,695
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-07-2025, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
9 d early
2023
26 d early
2022
31 d early
2021
34 d early
2020
2 d early
2019
1 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€28,972▼ 21.0%
2023 · €36,667
Total assets
€70,504▼ 27.8%
2023 · €97,609
Net result
-€7,695▲ 45.8%
2023 · -€14,188
Working capital
€21,393▼ 20.7%
2023 · €26,966
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€2,433-€2,618€12,038-€14,180-€5,569▲ 60.7%
Net result€3,467within the sector's middle half-€1,902below the sector's middle half€8,356within the sector's middle half-€14,188below the sector's middle half-€7,695below the sector's middle half▲ 45.8%
Equity€44,401within the sector's middle half▲ 8.5%€42,499within the sector's middle half▼ 4.3%€50,855within the sector's middle half▲ 19.7%€36,667within the sector's middle half▼ 27.9%€28,972within the sector's middle half▼ 21.0%
Total assets€90,817within the sector's middle half▼ 6.2%€102,460within the sector's middle half▲ 12.8%€102,507within the sector's middle half=€97,609within the sector's middle half▼ 4.8%€70,504within the sector's middle half▼ 27.8%
Debt€46,416▼ 16.9%€59,961▲ 29.2%€51,651▼ 13.9%€60,942▲ 18.0%€41,532▼ 31.8%
Working capital€38,145within the sector's middle half▲ 0.6%€23,813within the sector's middle half▼ 37.6%€39,907within the sector's middle half▲ 67.6%€26,966within the sector's middle half▼ 32.4%€21,393within the sector's middle half▼ 20.7%
Solvency48.9%within the sector's middle half▲ 6.6pp41.5%within the sector's middle half▼ 7.4pp49.6%within the sector's middle half▲ 8.1pp37.6%within the sector's middle half▼ 12.0pp41.1%within the sector's middle half▲ 3.5pp
Current ratio1.82within the sector's middle half▲ 0.141.40within the sector's middle half▼ 0.421.79within the sector's middle half▲ 0.391.44within the sector's middle half▼ 0.341.52within the sector's middle half▲ 0.07
Return on assets (ROA)3.8%within the sector's middle half▲ 7.7pp-1.9%below the sector's middle half▼ 5.7pp8.2%within the sector's middle half▲ 10.0pp-14.5%below the sector's middle half▼ 22.7pp-10.9%below the sector's middle half▲ 3.6pp
Staff (FTE)2within the sector's middle half=2=3▲ 50.0%3=2.8▼ 6.7%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5,569 in 2024 against €14,180 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €70,504
Fixed assets
€7,579 ▼ 21.9%
Current assets
€62,925 ▼ 28.4%
Equity and liabilities €70,504
Equity
€28,972 ▼ 21.0%
Debt
€41,532 ▼ 31.8%
Debt's share of the balance-sheet total falls from 62.4% to 58.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€1,499▲
2023 · -€10,334
Cash flow
-€3,626▲
2023 · -€10,342
Debt to equity
1.43▼
2023 · 1.66
ROE
-26.6%▲
2023 · -38.7%
Interest coverage
-0.55▲
2023 · -3.88
Debt ≤ 1 year
€41,532▼
2023 · €60,942
Income taxes
€158▲
2023 · -€624
Staff costs
€144,715▲
2023 · €129,575
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,834 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.7%
went bankrupt
13%
stopped otherwise
84%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,834 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,979 | €2,112 | €5,785 | ▲ 174% |
| Remuneration, social security and pensions62 | - | €85,956 | €137,897 | €129,575 | €144,715 | ▲ 11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,214 | €5,620 | €3,803 | €3,846 | €4,069 | ▲ 5.8% |
| Other operating charges640/8 | - | €3,050 | €2,574 | €2,290 | €2,215 | ▼ 3.3% |
| Non-recurring operating charges66A | - | - | €1,373 | €1,344 | - | - |
| Gross operating margin9900 | €92,082 | €92,007 | €157,685 | €122,875 | €145,430 | ▲ 18.4% |
| Operating profit (loss)9901 | €2,433 | -€2,618 | €12,038 | -€14,180 | -€5,569 | ▲ 60.7% |
| Financial income75/76B | - | €3,277 | €3,166 | €2,035 | €1,330 | ▼ 34.6% |
| Recurring financial income75 | €4,698 | €3,277 | €3,166 | €2,035 | €1,330 | ▼ 34.6% |
| Financial charges65/66B | - | €920 | €1,592 | €2,667 | €3,299 | ▲ 23.7% |
| Recurring financial charges65 | €997 | €920 | €1,592 | €2,667 | €2,721 | ▲ 2.0% |
| Non-recurring financial charges66B | - | - | - | - | €577 | - |
| Profit (loss) for the period before taxes9903 | €6,134 | -€261 | €13,611 | -€14,812 | -€7,537 | ▲ 49.1% |
| Income taxes67/77 | €2,667 | €1,641 | €5,255 | -€624 | €158 | ▲ 125% |
| Profit (loss) for the period9904 | €3,467 | -€1,902 | €8,356 | -€14,188 | -€7,695 | ▲ 45.8% |
| Profit (loss) for the period to be appropriated9905 | €3,467 | -€1,902 | €8,356 | -€14,188 | -€7,695 | ▲ 45.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €90,817 | €102,460 | €102,507 | €97,609 | €70,504 | ▼ 27.8% |
| Fixed assets21/28 | €6,256 | €18,686 | €11,862 | €9,702 | €7,579 | ▼ 21.9% |
| Tangible fixed assets22/27 | €6,256 | €18,686 | €11,862 | €9,702 | €7,579 | ▼ 21.9% |
| Furniture and vehicles24 | - | €18,686 | €11,862 | €9,702 | €7,579 | ▼ 21.9% |
| Current assets29/58 | €84,561 | €83,774 | €90,645 | €87,907 | €62,925 | ▼ 28.4% |
| Amounts receivable within one year40/41 | €71,943 | €65,066 | €77,623 | €54,175 | €25,431 | ▼ 53.1% |
| Trade receivables40 | - | €17,445 | €30,296 | €14,436 | €2,415 | ▼ 83.3% |
| Other amounts receivable41 | - | €47,621 | €47,327 | €39,739 | €23,016 | ▼ 42.1% |
| Current investments50/53 | €83 | €6 | - | - | - | - |
| Cash at bank and in hand54/58 | €11,335 | €17,586 | €12,188 | €25,963 | €25,129 | ▼ 3.2% |
| Deferred charges and accrued income490/1 | - | €1,116 | €834 | €7,768 | €12,365 | ▲ 59.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €90,817 | €102,460 | €102,507 | €97,609 | €70,504 | ▼ 27.8% |
| Equity10/15 | €44,401 | €42,499 | €50,855 | €36,667 | €28,972 | ▼ 21.0% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €25,801 | €23,899 | €32,255 | €18,067 | €10,372 | ▼ 42.6% |
| Non-distributable reserves130/1 | - | €1,860 | €10,216 | €10,216 | €8,356 | ▼ 18.2% |
| Reserves not available under the articles1311 | - | €1,860 | €10,216 | €10,216 | €8,356 | ▼ 18.2% |
| Distributable reserves133 | - | €22,039 | €22,039 | €7,851 | €2,016 | ▼ 74.3% |
| Amounts payable17/49 | €46,416 | €59,961 | €51,651 | €60,942 | €41,532 | ▼ 31.8% |
| Amounts payable within one year42/48 | €46,416 | €59,961 | €50,738 | €60,942 | €41,532 | ▼ 31.8% |
| Trade debts44 | €13,551 | €5,662 | €10,293 | €28,143 | €19,645 | ▼ 30.2% |
| Suppliers440/4 | - | €5,662 | €10,293 | €28,143 | €19,645 | ▼ 30.2% |
| Advances received on contracts in progress46 | - | - | - | - | €7,962 | - |
| Taxes, remuneration and social security45 | - | €19,735 | €21,178 | €23,239 | €13,925 | ▼ 40.1% |
| Taxes450/3 | - | €11,114 | €7,930 | €7,601 | €1,314 | ▼ 82.7% |
| Remuneration and social security454/9 | - | €8,622 | €13,248 | €15,638 | €12,611 | ▼ 19.4% |
| Other amounts payable47/48 | - | €34,564 | €19,267 | €9,559 | - | - |
| Accrued charges and deferred income492/3 | - | - | €913 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,467 | -€1,902 | €8,356 | -€14,188 | -€7,695 | ▲ 45.8% |
| + Depreciation and write-downs630 | €2,214 | €5,620 | €3,803 | €3,846 | €4,069 | ▲ 5.8% |
| Operating cash flow (approximation) | €5,681 | €3,718 | €12,159 | -€10,342 | -€3,626 | ▲ 64.9% |
| Investment in fixed assets (approximation) | - | -€18,050 | €3,022 | -€1,686 | -€1,947 | ▼ 15.5% |
| Change in cash | - | €6,251 | -€5,398 | €13,776 | -€835 | ▼ 106% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
22-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€14,188
Net result drops to -€14,188, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €8,356
Net result €8,356 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €3,467
Net result €3,467 after one loss-making year.
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
12-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Genk · 1 establishment unit since 2000
Ground area
3,964 m²
Building footprint
241 m²
Volume, LiDAR
1,827 m³
Parcel 71302A0173/00E000, Flanders · tallest building 12.7 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Hofstede 2, 3600 Genk
since 20002.099.714.161
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71302A0173/00E000 | Flanders | 3,964 m² | 1 · 241 m² | 12.7 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 4,020 companies in sector 43310 we hold annual accounts for 1,749. 1,451 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-06-2000
Fiscal year end31-12
Activities, NACEBEL 2025
43310Plastering work
E-invoicing
Reachable via Peppol
Peppol ID
0208:0472180459
Also
9925:BE0472180459
Registered
19-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.