Equity
€114,077 from €251,555 in 2021
Equity fell by 55% in 4 years.
G-SQUARE
Lifetime
21 annual accounts with figures on one time axis, 22 filings since 2004peak €463,151 (2021)
€60,388▲ 52.1%
lowest -€70,501 (2020)
-€29,159▲ €40,749
peak €251,555 (2021)
€114,077▼ 29.5%
€1.2m▼ 1.2%
peak 0.5 FTE (2013)
-not published
Board1 name since 2003
1 directorGeuten Geert
Documentsfilings and deeds
27-08-202627 days late
2025micro format
Gross margin from €39,704 to €60,388Loss of €29,159Equity from €161,836 to €114,077Cash from €67,640 to €26,183
Key points
from the 2025 annual accountsLosses
-€118,878 in four years
Every financial year from 2022 to 2025 closed with a loss. 2024 was the heaviest.
Turnover
≈ €140,000 estimated
The micro format states no turnover.
Debts
€1.2m 91% of the balance sheet
Financial debts 52%Suppliers 0%Taxes and wages 1%Other 47%
Of this, €485,535 falls due within a year.
Filings
22 annual accounts since 2004
Seven of the last ten came late. The 2023 accounts came latest: 323 days after the end of the period.
Position in the sector
-€29,159
Lower net result than 95% of companies in computer programming and consultancy. Sector median €28,568 · 21,214 companies.
Checked score
80
Excellent
Financially stronger than 17% of micro companies in computer programming and consultancy (NACE 62)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%lowest value
01-2025: 0.7%▲ +0.4 percentage points vs 12-2024
02-2025: 0.7%● unchanged vs 01-2025
03-2025: 0.8%▲ +0.1 percentage points vs 02-2025
04-2025: 0.7%▼ -0.1 percentage points vs 03-2025
05-2025: 0.7%● unchanged vs 04-2025
06-2025: 0.7%● unchanged vs 05-2025
07-2025: 1.1%▲ +0.4 percentage points vs 06-2025
08-2025: 1.5%▲ +0.4 percentage points vs 07-2025
09-2025: 1.8%▲ +0.3 percentage points vs 08-2025highest value
10-2025: 0.5%▼ -1.3 percentage points vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.8%▲ +0.3 percentage points vs 07-2026
09-2026: 0.4%▼ -0.4 percentage points vs 08-2026
10-2026: 0.4%● unchanged vs 09-2026
11-2026: 0.4%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Last filed accounts filed 27 days late; 2 of the last 3 accounts late
Liquidity: current ratio 0.38, cash €26,183, halved
Equity €114,077 (9.0% of total assets)
lowers risk
Size: total assets €1.3m
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 62, micro). It does better than 15% of them on solvency, 14% on liquidity, 17% on profitability and 21% on growth.
The bankruptcy probability was computed on 09-11-2026 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, 1,104 companies had the same profile as G-SQUARE has now. Each dot stands for 3 companies, two years later.
94.2%
were still trading
3.6%
stopped another way
1.8%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of G-SQUARE itself: 0.4% 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 1,104 companies, not a prediction for G-SQUARE. 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 €9,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.38 (0.46 in 2024), below 1. Short-term debt is 38.2% and cash 2.1% of total assets. 91% 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
Seven signals.
lowers riskraises risk
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€29,159
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 21208 sector peers (2025).
NBB · sector comparisonPosition among 21208 sector peers
Solvency
better than 14%
← weakest
strongest →
raises risk · 2025 accounts filed 27 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
27 days late
2024
41 days late
2023
323 days late
2022
24 days early
2021
26 days late
2020
27 days late
2019
20 days late
← 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 63 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% 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 27 August (4 of the last 5 accounts filed within 51 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0480074576
Purpose change · Legal-form change · Resignations & appointments
“Alles in verband met de media,de audio-visuele sector en de multimedia evenals alle applicaties of…” (deed in Dutch) · Board composition: Geert Els Bert Geuten (director (not named in the articles)) · General meeting of 23-10-2023 · Gazette deed
Incorporation
published on 29-04-2003 · Gazette deed
First establishment
Eburonenlaan 14, Leuven
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| G-SQUARE Leuven | €1.3m | €60,388 | 9.0% | - |
| FORREZ Leuven | €1.2m | €47,639 | 49.8% | - |
| Elsmoortel Tom Lokeren | €1.2m | €67,330 | 57.4% | - |
| BYTE - FACTORY Tervuren | €1.6m | €79,490 | 64.9% | - |
| DENCO Roosdaal | €0.9m | €50,383 | 75.0% | - |
| NEW - MEDIA SERVICES Schelle | €1.0m | €57,610 | 82.7% | - |
| XP2 Boechout | €1.1m | €77,571 | 92.5% | - |
These companies have the same main activity as G-SQUARE: computer programming (NACE 62100). They are comparable in size and age: total assets between €881,000 and €1.6m, founded between 1999 and 2002.
Official details
Source: KBO- Status
- Active since 18-04-2003Normal situation
- Activity
- Computer programmingNACE 62100and 1 other
- Establishment unit
- 2.132.942.1063001 Leuven, since 14-04-2003
- Financial year end
- 31 December
- Peppol
- Reachable since 25-06-2025
Insights on G-SQUARE
G-SQUARE files the micro format. That format states no turnover. The gross margin rose from €10,500 in 2005 to €60,388 in 2025.
The balance sheet grew most in 2023 through fixed assets, financed with long-term debt.
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-SQUARE
- What is the company number of G-SQUARE?
- The company number of G-SQUARE is 0480.074.576. The VAT number is the same number with BE in front: BE 0480.074.576.
- Where is G-SQUARE based?
- The registered office is at Eburonenlaan 14, 3001 Leuven.Company details
- What does G-SQUARE do?
- According to the KBO register, the main activity is computer programming (NACE 62100).
- What is the legal form of G-SQUARE?
- G-SQUARE is a private limited company (BV).
- When was G-SQUARE founded?
- G-SQUARE was founded on 18-04-2003.
- Is G-SQUARE still active?
- Yes, G-SQUARE is an active enterprise in the KBO register.
- What is the turnover of G-SQUARE?
- The turnover in financial year 2025 is ≈ €140,000. This figure is estimated from the gross margin of €60,388 and 41 comparable companies (NACE 62100). It probably lies between €120,000 and €180,000.Financials
- Is G-SQUARE profitable?
- In financial year 2025, G-SQUARE made a loss of €29,159.
- Where can I find the annual accounts of G-SQUARE?
- G-SQUARE filed 22 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of G-SQUARE due?
- G-SQUARE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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