Equity
Equity fell by 99% in 3 years.
Equity fell by 99% in 3 years.
Of this, €367,422 falls due within a year.
Mortgage mandates, new in 2025. 74.0 times equity · not in the 2024 accounts.
Green is investment, beige is depreciation.
Lower solvency than 90% of companies in head offices and management consultancy. Sector median 55.5% · 39,360 companies.
The dashed line is the sector median: 0.1% across 48,568 companies (NACE 70, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 9% of them on solvency, 16% on liquidity, 84% on profitability and 50% on growth.
The bankruptcy probability was computed on 07-11-2026 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 low class on 30-06-2025, 0.8% 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).
In July 2024, 2,153 companies had the same profile as GABELI has now. Each dot stands for 6 companies, two years later.
That fits the bankruptcy probability of GABELI itself: 0.6% within 12 months.
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 2,153 companies, not a prediction for GABELI. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 6 accounts on average 33 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| GABELI Ixelles | €771,116 | €381,458 | 0.7% | - |
| Nordic Nicotine Pouches Alliance Ixelles | €856,498 | €418,016 | 60.0% | - |
| C&V DEFENCE Ixelles | €936,854 | €364,698 | 16.2% | 8 |
| Oppizi Belgium Ixelles | €663,494 | €321,575 | 6.7% | - |
| eWTP Digital Services (Belgium) Brussels | €747,337 | €358,340 | 54.9% | 2 |
| Ariane Project Watermael-Boitsfort | €678,886 | €392,839 | 11.9% | - |
| Strahl & Company Auderghem | €755,897 | €435,321 | 0.7% | - |
These companies have the same main activity as GABELI: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €663,000 and €937,000, founded in 2020.
GABELI files the micro format. That format states no turnover. The gross margin rose from €53,152 in 2020 to €381,458 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €550,000. Estimated: probably between €450,000 and €960,000.
Higher than 10% of 39,360 companies in 2025.
Higher than 32% of 38,044 companies in 2025.
Higher than 66% of 38,516 companies in 2025.
Net result: top quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 1 person joined and nobody left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
771,116 | 280,126 | 709,939 | 575,118 | 371,796 | 126,610 | |
21/28 |
328,211 | 78,814 | 40,394 | 4,377 | 1,928 | 2,653 | |
22/27 |
328,211 | 78,814 | 40,394 | 4,377 | 1,928 | 2,653 | |
22 |
191,906 | - | - | - | - | - | |
24 |
133,247 | 75,330 | 36,484 | 4,377 | 1,928 | 2,653 | |
26 |
3,058 | 3,484 | 3,910 | - | - | - | |
29/58 |
442,905 | 201,313 | 669,545 | 570,741 | 369,868 | 123,957 | |
40/41 |
379,028 | 66,690 | 50,471 | 97 | 52,882 | 35,975 | |
40 |
51,687 | 53,513 | 44,015 | 97 | 52,882 | 35,975 | |
41 |
327,341 | 13,177 | 6,456 | - | - | - | |
50/53 |
- | 0 | 580,000 | - | - | - | |
54/58 |
57,663 | 131,541 | 35,847 | 569,354 | 315,694 | 87,982 | |
490/1 |
6,214 | 3,082 | 3,227 | 1,291 | 1,291 | - | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
771,116 | 280,126 | 709,939 | 575,118 | 371,796 | 126,610 | |
10/15 |
5,633 | 5,379 | 5,018 | 407,560 | 228,990 | 46,873 | |
10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
11 |
- | - | - | - | - | 5,000 | |
1109/19 |
- | - | - | - | - | 5,000 | |
14 |
633 | 379 | 18 | 402,560 | 223,990 | 41,873 | |
17/49 |
765,483 | 274,747 | 704,920 | 167,558 | 142,806 | 79,737 | |
17 |
397,615 | - | - | - | - | - | |
170/4 |
397,615 | - | - | - | - | - | |
42/48 |
367,422 | 274,747 | 704,920 | 167,558 | 142,806 | 79,737 | |
42 |
41,248 | - | - | - | - | - | |
43 |
8,103 | 953 | 2,453 | 243 | 1,013 | - | |
430/8 |
8,103 | 953 | 2,453 | 243 | 1,013 | - | |
44 |
19,833 | 1,765 | 5,846 | 6,408 | 20,704 | 1,103 | |
440/4 |
19,833 | 1,765 | 5,846 | 6,408 | 20,704 | 1,103 | |
45 |
29,951 | 24,891 | 74,162 | 128,421 | 86,163 | 28,087 | |
450/3 |
25,927 | 24,891 | 74,162 | 128,421 | 86,163 | 28,087 | |
454/9 |
4,024 | - | - | - | - | - | |
47/48 |
268,286 | 247,138 | 622,460 | 32,487 | 34,926 | 50,548 | |
492/3 |
447 | - | - | - | - | - | |
| Income statement | |||||||
9900 |
381,458 | 321,626 | 252,862 | 236,155 | 241,448 | 53,152 | |
62 |
28,674 | - | - | - | - | - | |
630 |
76,726 | 13,483 | 5,395 | 1,175 | 725 | 246 | |
640/8 |
7,418 | 3,164 | 384 | 348 | 348 | 348 | |
9901 |
268,640 | 304,979 | 247,082 | 234,632 | 240,376 | 52,558 | |
75/76B |
262 | 15,690 | 8,185 | 145 | - | - | |
75 |
262 | 15,690 | 8,185 | 145 | - | - | |
65/66B |
2,352 | 2,326 | 2,310 | 2,413 | 2,422 | 25 | |
65 |
2,352 | 2,326 | 2,310 | 2,413 | 2,422 | 25 | |
9903 |
266,551 | 318,343 | 252,958 | 232,365 | 237,954 | 52,533 | |
67/77 |
66,298 | 77,982 | 58,999 | 53,795 | 55,836 | 10,660 | |
9904 |
200,253 | 240,361 | 193,958 | 178,570 | 182,117 | 41,873 | |
9905 |
200,253 | 240,361 | 193,958 | 178,570 | 182,117 | 41,873 | |
| Appropriation of the result | |||||||
9906 |
200,633 | 240,379 | 596,518 | 402,560 | 223,990 | 41,873 | |
14P |
379 | 18 | 402,560 | 223,990 | 41,873 | - | |
694/7 |
200,000 | 240,000 | 596,500 | - | - | - | |
694 |
200,000 | 240,000 | 596,500 | - | - | - | |
| Social balance sheet | |||||||
9087 |
1 | - | - | - | - | - | |
Hours worked1013 |
1,497 | - | - | - | - | - | |
| Document | |||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-07-2026 | 2026-00342975 | |
| 31-12-2024 | micro format | 31-08-2025 | 2025-00473385 | |
| 31-12-2023 | micro format | 14-09-2024 | 2024-00465685 | |
| 31-12-2022 | micro format | 06-09-2023 | 2023-00439143 | |
| 31-12-2021 | micro format | 29-09-2022 | 2022-20444487 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-63200283 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 345,366 | 318,462 | 252,477 | 235,807 | 241,101 | 52,804 | ||
| 276,979 | 253,844 | 199,353 | 179,745 | 182,842 | 42,119 | ||
| 326,123 | 51,903 | 41,412 | 3,624 | 0 | 2,899 | ||
| -73,878 | 95,694 | -533,507 | 253,659 | 227,712 | - | ||
| 75,484 | -73,435 | -35,376 | 403,183 | 227,062 | 44,220 | ||
| 0.7% | 1.9% | 0.7% | 70.9% | 61.6% | 37.0% | ||
| 1.21 | 0.73 | 0.95 | 3.41 | 2.59 | 1.55 | ||
| - | 51.07 | - | 0.41 | 0.62 | 1.70 | ||
| - | - | - | 43.8% | 79.5% | 89.3% | ||
| 26.0% | 85.8% | 27.3% | 31.0% | 49.0% | 33.1% | ||
| over 100 | over 100 | over 100 | 97.73 | 99.53 | - |
A ratio outside any meaningful range has been withheld (balance sheet total €771,116, equity €5,633).
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 1 |
| in full-time equivalents | 1 |
| 1 | |
| On a permanent contract | 1 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €25,000 | - | - | - | - |
| €417,000 | - | - | - | - | |
| Carrying value of the mortgaged assets | €191,906 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €326,123 | €51,903 | €41,412 | €3,624 | - |
| €76,726 | €13,483 | €5,395 | €1,175 | €725 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 12% lower than in 2024.
Debt's share of the balance-sheet total rises from 98.1% to 99.3%. Equity and debt are higher.
GABELI has no parent and no holdings in its annual accounts.
| LOTUS CARS BELGIUM
registered office since 26-08-2022 · founded in 2022 · accounts filed late |
5 FTE (2024) 0790.132.009 |
| ATLAS TECHNOLOGY SOLUTIONS BELGIUM
registered office since 12-09-2016 · founded in 2016 |
16 FTE (2025) 0662.507.822 |
| D.M.K.
registered office since 10-11-2000 · founded in 1989 |
total assets €6.1m (2025) 0438.060.215 |
| STEPHANE BUISSERET
registered office since 25-10-1996 · founded in 1996 |
total assets €3.4m (2025) 0459.103.770 |
| VF BIOSCIENCE
registered office since 11-09-2015 · founded in 2015 |
total assets €2.3m (2025) 0636.963.762 |
| CNL
registered office since 06-08-2002 · founded in 2002 |
total assets €1.5m (2025) 0477.842.190 |
| THE GOOD FOOD COMPANY
registered office since 18-01-2016 · founded in 2016 |
4.2 FTE (2025) 0646.705.631 |
| AsErFaPa
registered office since 05-12-2023 · founded in 2023 |
total assets €962,632 (2025) 1003.021.273 |
| VNF HOLDING
registered office since 19-09-2019 · founded in 2019 |
total assets €927,335 (2025) 0734.663.746 |
| CMS Holding
registered office since 12-12-2023 · founded in 2023 |
total assets €884,569 (2025) 1003.277.037 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
GABELI was incorporated on 21 August 2020 as a private limited company by one natural person, with a starting capital of €5,000.12 The registered office was moved to Ixelles in 2025.3 The board currently has 2 members. BEERLANDT Hans Navruz Johan has served longest, since 2020.4 Total assets rose from €126,610 in 2020 to €771,116 in 2025.5
| Establishment | Since | Unit number |
|---|---|---|
| Waaglaan 61 registered office 1050 Ixelles | 26-08-2020 | 2.306.067.211 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21446D0182/00C006 | 1,078 m² | 1 · 743 m² | 20.9 m · 6 |
If something looks wrong or is missing, please tell us.