GABCO
ActiveSummary
GABCO has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.4m and a net result of €181,657. Equity is growing by ~11.7% per year across the filed fiscal years. Its solvency ranks better than 85% of 114 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▲+1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600,000 at 30 days acceptable
Liquidity ample (current ratio 56.34; short-term debt: 0.5% and cash: 0.2% of total assets), and 10.2% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 02
Relative position
BE, all sectors
reference
Forestry and logging (NACE 02)
about 55% fewer bankruptcies
← 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
89.8%
Return on assets
2%
Age of the figures
9 mo
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 08-07-2026, 23 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
23 d early
2024
27 d early
2023
14 d early
2022
73 d late
2021
31 d late
2020
25 d late
2019
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 18 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 18 July (4 of the last 5 filed years within 44 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#1 company by equity in the province of Namur, Forestry sector#2 company by total assets in the province of Namur, Forestry sector
Equity
€8.4m▲ 2.2%
2024 · €8.2m
Total assets
€9.3m▲ 2.4%
2024 · €9.1m
Net result
€181,657▲ 59.7%
2024 · €113,729
Working capital
€2.4m▲ 8.5%
2024 · €2.2m
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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 02, Forestry and logging, 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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€3,706=-€9,414▼ 154%€61,255€63,786▲ 4.1%€63,991▲ 0.3%
Net result€1.3mabove the sector's middle half▼ 2.6%€1.3mabove the sector's middle half▲ 0.2%€105,054above the sector's middle half▼ 91.8%€113,729above the sector's middle half▲ 8.3%€181,657above the sector's middle half▲ 59.7%
Equity€6.7mabove the sector's middle half▲ 23.7%€8.0mabove the sector's middle half▲ 19.2%€8.1mabove the sector's middle half▲ 1.3%€8.2mabove the sector's middle half▲ 1.4%€8.4mabove the sector's middle half▲ 2.2%
Total assets€9.1mabove the sector's middle half▲ 9.0%€9.1mabove the sector's middle half▲ 0.3%€9.0mabove the sector's middle half▼ 1.1%€9.1mabove the sector's middle half▲ 0.7%€9.3mabove the sector's middle half▲ 2.4%
Debt€2.4m▼ 18.0%€1.2m▼ 51.7%€962,523▼ 17.7%€912,880▼ 5.2%€948,047▲ 3.9%
Working capital€1.7mabove the sector's middle half▲ 81.5%€2.0mabove the sector's middle half▲ 16.1%€2.1mabove the sector's middle half▲ 5.3%€2.2mabove the sector's middle half▲ 5.5%€2.4mabove the sector's middle half▲ 8.5%
Solvency73.4%within the sector's middle half▲ 8.7pp87.2%above the sector's middle half▲ 13.8pp89.3%above the sector's middle half▲ 2.1pp90.0%above the sector's middle half▲ 0.6pp89.8%above the sector's middle half▼ 0.1pp
Current ratio4.31above the sector's middle half▲ 1.558.34above the sector's middle half▲ 4.0334.30above the sector's middle half▲ 25.9656.34above the sector's middle half
Return on assets (ROA)14.1%above the sector's middle half▼ 1.7pp14.0%above the sector's middle half=1.2%within the sector's middle half▼ 12.9pp1.3%within the sector's middle half▲ 0.1pp2.0%within the sector's middle half▲ 0.7pp
above
within
below
the middle half (P25 to P75) of NACE 02, Forestry and logging, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 0% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.3m
Fixed assets
€6.9m =
Current assets
€2.4m ▲ 9.8%
Equity and liabilities €9.3m
Equity
€8.4m ▲ 2.2%
Debt
€948,047 ▲ 3.9%
Debt's share of the balance-sheet total rises from 10.0% to 10.2%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.11▲
2024 · 0.11
ROE
2.2%▲
2024 · 1.4%
Debt ≤ 1 year
€43,047▲
2024 · €12,880
Debt > 1 year
€905,000▲
2024 · €900,000
Income taxes
€46,020
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €868 | €868 | €31,828 | €968 | €998 | ▲ 3.2% |
| Gross operating margin9900 | -€2,838 | -€8,546 | €93,083 | €64,754 | €64,989 | ▲ 0.4% |
| Operating profit (loss)9901 | -€3,706 | -€9,414 | €61,255 | €63,786 | €63,991 | ▲ 0.3% |
| Financial income75/76B | €1.3m | €1.3m | €48,980 | €49,995 | €163,740 | ▲ 228% |
| Recurring financial income75 | €1.3m | €1.3m | €48,980 | €49,995 | €163,740 | ▲ 228% |
| Financial charges65/66B | €22,482 | €12,248 | €5,182 | €53 | €53 | ▲ 0.5% |
| Recurring financial charges65 | €22,482 | €12,248 | €5,182 | €53 | €53 | ▲ 0.5% |
| Profit (loss) for the period before taxes9903 | €1.3m | €1.3m | €105,054 | €113,729 | €227,678 | ▲ 100% |
| Income taxes67/77 | - | - | - | - | €46,020 | - |
| Profit (loss) for the period9904 | €1.3m | €1.3m | €105,054 | €113,729 | €181,657 | ▲ 59.7% |
| Profit (loss) for the period to be appropriated9905 | €1.3m | €1.3m | €105,054 | €113,729 | €181,657 | ▲ 59.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.1m | €9.1m | €9.0m | €9.1m | €9.3m | ▲ 2.4% |
| Fixed assets21/28 | €6.9m | €6.9m | €6.9m | €6.9m | €6.9m | = |
| Financial fixed assets28 | €6.9m | €6.9m | €6.9m | €6.9m | €6.9m | = |
| Current assets29/58 | €2.2m | €2.2m | €2.1m | €2.2m | €2.4m | ▲ 9.8% |
| Amounts receivable within one year40/41 | €674,470 | €702,508 | €844,723 | €901,335 | €2.4m | ▲ 167% |
| Trade receivables40 | €39,470 | €77,508 | €141,933 | €168,567 | €249,600 | ▲ 48.1% |
| Other amounts receivable41 | €635,000 | €625,000 | €702,790 | €732,768 | €2.2m | ▲ 195% |
| Cash at bank and in hand54/58 | €276,688 | €278,714 | €34,711 | €42,184 | €14,494 | ▼ 65.6% |
| Deferred charges and accrued income490/1 | €1.3m | €1.3m | €1.3m | €1.3m | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.1m | €9.1m | €9.0m | €9.1m | €9.3m | ▲ 2.4% |
| Equity10/15 | €6.7m | €8.0m | €8.1m | €8.2m | €8.4m | ▲ 2.2% |
| Contributions10/11 | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Capital10 | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Issued capital100 | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Reserves13 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Non-distributable reserves130/1 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Legal reserve130 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Profit (loss) carried forward14 | €6.1m | €7.4m | €7.5m | €7.6m | €7.8m | ▲ 2.4% |
| Amounts payable17/49 | €2.4m | €1.2m | €962,523 | €912,880 | €948,047 | ▲ 3.9% |
| Amounts payable after more than one year17 | €1.9m | €900,000 | €900,000 | €900,000 | €905,000 | ▲ 0.6% |
| Financial debts170/4 | €266,863 | - | - | - | - | - |
| Other amounts payable178/9 | €1.6m | €900,000 | €900,000 | €900,000 | €905,000 | ▲ 0.6% |
| Amounts payable within one year42/48 | €513,770 | €269,366 | €62,523 | €12,880 | €43,047 | ▲ 234% |
| Current portion of amounts payable after more than one year42 | €513,770 | €266,863 | €0 | - | - | - |
| Trade debts44 | - | €2,502 | €62,523 | €12,880 | €22,027 | ▲ 71.0% |
| Suppliers440/4 | - | €2,502 | €62,523 | €12,880 | €22,027 | ▲ 71.0% |
| Taxes, remuneration and social security45 | - | - | - | - | €21,020 | - |
| Taxes450/3 | - | - | - | - | €21,020 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.3m | €1.3m | €105,054 | €113,729 | €181,657 | ▲ 59.7% |
| Operating cash flow (approximation) | €1.3m | €1.3m | €105,054 | €113,729 | €181,657 | ▲ 59.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €2,026 | -€244,003 | €7,474 | -€27,690 | ▼ 471% |
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
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity times 5current ratio 171.47
Current ratio from 34.30 to 171.47; short-term debt falls from €62,523 to €12,880.
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €105,054 ▼91.8%
Net result drops to €105,054, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 34.30
Current ratio from 8.34 to 34.30; short-term debt falls from €269,366 to €62,523.
12-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 73 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Highest result since 2018net €1.3m ▲1.7%
Net result €1.3m, the highest in the series.
31-12
Financial
Equity above €5mEq €5.4m ▲32.2%
3 profitable years in a row build equity to €5.4m.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
Show earlier events
2019
31-12
Financial
Liquidity doublescurrent ratio 2.89
Current ratio from 1.42 to 2.89; short-term debt falls from €886,942 to €622,236.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Couvin · 1 establishment unit since 2016
Ground area
1,929 m²
Parcel 93039B0129/00D002, Wallonia. Linked by address, not a title deed.
1 establishment unit
GABCO
since 20162.343.026.486
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93039B0129/00D002 | Wallonia | 1,929 m² | - | - |
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.
Structure & network
Owners and holdings
2 owners · 1 holdingChain of control
- RAIL EUROPE
- GABCO
Highest known parent: RAIL EUROPE. The sources do not say who stands above it.
Owners 2
- RAIL EUROPEparent71%
-
0%
Holdings 1
-
82.98%
According to the 2025 annual accounts of GABCO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Company details
Identification
Legal formPublic limited company
Founded12-10-2016
Fiscal year end31-12
Activities, NACEBEL 2025
02200Logging
E-invoicing
Reachable via Peppol
Peppol ID
0208:0664557688
Registered
27-03-2026
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.