GALATE
ActiveSummary
GALATE has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €136k and a net result of €-16k. Equity remains stable across the filed fiscal years (±2.1% per year). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability34▲+25
Solvency73▼-21
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8k at 30 days acceptable
Liquidity ample (current ratio 1.62 against 1.28 in 2023; short-term debt: 10% and cash: 15% of total assets), but 52.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
47.5%
Return on assets
-5.5%
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 €-16k
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 25-06-2025, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
36 d early
2023
15 d early
2022
38 d early
2021
37 d early
2020
53 d early
2019
52 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€136k▼ 10.4%
2023 · €152k
2018: €171k
2019: €171k▲ +0.3% vs 2018
2020: €172k▲ +0.7% vs 2019highest in 7 years
2021: €172k▼ -0.1% vs 2020
2022: €170k▼ -1.2% vs 2021
2023: €152k▼ -10.4% vs 2022
2024: €136k▼ -10.4% vs 2023lowest in 7 years
2018 → 2024
Total assets
€287k▲ 30.2%
2023 · €221k
2018: €173klowest in 7 years
2019: €173k▲ +0.1% vs 2018
2020: €175k▲ +0.9% vs 2019
2021: €173k▼ -0.7% vs 2020
2022: €177k▲ +2.0% vs 2021
2023: €221k▲ +24.8% vs 2022
2024: €287k▲ +30.2% vs 2023highest in 7 years
2018 → 2024
Net result
€-16k▲ 9.5%
2023 · €-18k
2018: €1khighest in 7 years
2019: €521▼ -57.4% vs 2018
2020: €1k▲ +123% vs 2019
2021: €-227▼ -120% vs 2020
2022: €-2k▼ -845% vs 2021
2023: €-18k▼ -720% vs 2022lowest in 7 years
2024: €-16k▲ +9.5% vs 2023
2018 → 2024
Working capital
€18k▲ 143%
2023 · €7k
2018: €19k
2019: €29k▲ +56.6% vs 2018
2020: €40k▲ +37.2% vs 2019
2021: €49k▲ +24.0% vs 2020
2022: €50k▲ +2.0% vs 2021highest in 7 years
2023: €7k▼ -85.5% vs 2022lowest in 7 years
2024: €18k▲ +143% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€172k-€172k▼ 0.1%€170k▼ 1.2%€152k▼ 10.4%€136k▼ 10.4%
2020: €172khighest in 5 years
2021: €172k▼ -0.1% vs 2020
2022: €170k▼ -1.2% vs 2021
2023: €152k▼ -10.4% vs 2022
2024: €136k▼ -10.4% vs 2023lowest in 5 years
Operating result€2k-€30▼ 98.2%€-2k€-16k▼ 740%€-13k▲ 15.9%
2020: €2khighest in 5 years
2021: €30▼ -98.2% vs 2020
2022: €-2k▼ -6363% vs 2021
2023: €-16k▼ -740% vs 2022lowest in 5 years
2024: €-13k▲ +15.9% vs 2023
Net result€1k-€-227€-2k▼ 845%€-18k▼ 720%€-16k▲ 9.5%
2020: €1khighest in 5 years
2021: €-227▼ -120% vs 2020
2022: €-2k▼ -845% vs 2021
2023: €-18k▼ -720% vs 2022lowest in 5 years
2024: €-16k▲ +9.5% vs 2023
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 €13k in 2024 against €16k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €287k
Fixed assets
€241k ▲ 28.9%
Current assets
€47k ▲ 37.6%
Equity and liabilities €287k
Equity
€136k ▼ 10.4%
Debt
€151k ▲ 121%
Debt's share of the balance-sheet total rises from 30.9% to 52.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€7k▲
2023 · €-2k
Cash flow
€4k▲
2023 · €-3k
Current ratio
1.62▲
2023 · 1.28
Debt to equity
1.10▲
2023 · 0.45
ROE
-11.7%▼
2023 · -11.6%
ROA
-5.5%▲
2023 · -8.0%
Interest coverage
2.60▲
2023 · -0.92
Debt ≤ 1 year
€29k▲
2023 · €26k
Debt > 1 year
€120k▲
2023 · €40k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 38 lines
Balance sheet
Code20232024
Assets
Total assets20/58€221k€287k▲
Fixed assets21/28€187k€241k▲
Tangible fixed assets22/27€187k€241k▲
Land and buildings22€103k€93k▼
Plant, machinery and equipment23€83k€147k▲
Current assets29/58€34k€47k▲
Cash at bank and in hand54/58€28k€43k▲
Deferred charges and accrued income490/1€6k€4k▼
Equity and liabilities
Total equity and liabilities10/49€221k€287k▲
Equity10/15€152k€136k▼
Contributions10/11€124k€124k=
Capital10€124k€124k=
Issued capital100€124k€124k=
Reserves13€12k€12k=
Non-distributable reserves130/1€12k€12k=
Legal reserve130€12k€12k=
Profit (loss) carried forward14€16k€85▼
Amounts payable17/49€68k€151k▲
Amounts payable after more than one year17€40k€120k▲
Financial debts170/4€40k€120k▲
Amounts payable within one year42/48€26k€29k▲
Trade debts44€26k€27k▲
Suppliers440/4€26k€27k▲
Taxes, remuneration and social security45-€600
Taxes450/3-€600
Other amounts payable47/48-€1k
Accrued charges and deferred income492/3€2k€2k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€20k▲
Other operating charges640/8€5k€5k▲
Gross operating margin9900€4k€12k▲
Operating profit (loss)9901€-16k€-13k▲
Financial charges65/66B€2k€3k▲
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€-18k€-16k▲
Profit (loss) for the period9904€-18k€-16k▲
Profit (loss) for the period to be appropriated9905€-18k€-16k▲
Appropriation of the result
Profit (loss) to be appropriated9906€16k€85▼
Profit (loss) brought forward from the previous period14P€34k€16k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €10k | €10k | €14k | €20k | ▲ 42.9% |
| Other operating charges640/8 | - | €4k | €4k | €5k | €5k | ▲ 3.8% |
| Gross operating margin9900 | €15k | €14k | €12k | €4k | €12k | ▲ 245% |
| Operating profit (loss)9901 | €2k | €30 | €-2k | €-16k | €-13k | ▲ 15.9% |
| Financial charges65/66B | - | €266 | €266 | €2k | €3k | ▲ 45.7% |
| Recurring financial charges65 | €83 | €266 | €266 | €2k | €3k | ▲ 45.7% |
| Profit (loss) for the period before taxes9903 | €2k | €-236 | €-2k | €-18k | €-16k | ▲ 9.5% |
| Income taxes67/77 | €415 | €-9 | - | - | - | - |
| Profit (loss) for the period9904 | €1k | €-227 | €-2k | €-18k | €-16k | ▲ 9.5% |
| Profit (loss) for the period to be appropriated9905 | €1k | €-227 | €-2k | €-18k | €-16k | ▲ 9.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €175k | €173k | €177k | €221k | €287k | ▲ 30.2% |
| Fixed assets21/28 | €133k | €123k | €120k | €187k | €241k | ▲ 28.9% |
| Tangible fixed assets22/27 | €133k | €123k | €120k | €187k | €241k | ▲ 28.9% |
| Land and buildings22 | - | €123k | €120k | €103k | €93k | ▼ 9.5% |
| Plant, machinery and equipment23 | - | - | - | €83k | €147k | ▲ 76.3% |
| Current assets29/58 | €42k | €50k | €57k | €34k | €47k | ▲ 37.6% |
| Cash at bank and in hand54/58 | €35k | €43k | €46k | €28k | €43k | ▲ 53.4% |
| Deferred charges and accrued income490/1 | - | €8k | €11k | €6k | €4k | ▼ 38.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €175k | €173k | €177k | €221k | €287k | ▲ 30.2% |
| Equity10/15 | €172k | €172k | €170k | €152k | €136k | ▼ 10.4% |
| Contributions10/11 | €124k | €124k | €124k | €124k | €124k | = |
| Capital10 | - | €124k | €124k | €124k | €124k | = |
| Issued capital100 | - | €124k | €124k | €124k | €124k | = |
| Reserves13 | €12k | €12k | €12k | €12k | €12k | = |
| Non-distributable reserves130/1 | - | €12k | €12k | €12k | €12k | = |
| Legal reserve130 | - | €12k | €12k | €12k | €12k | = |
| Profit (loss) carried forward14 | €36k | €36k | €34k | €16k | €85 | ▼ 99.5% |
| Amounts payable17/49 | €2k | €1k | €7k | €68k | €151k | ▲ 121% |
| Amounts payable after more than one year17 | - | - | - | €40k | €120k | ▲ 200% |
| Financial debts170/4 | - | - | - | €40k | €120k | ▲ 200% |
| Amounts payable within one year42/48 | €2k | €1k | €7k | €26k | €29k | ▲ 8.5% |
| Trade debts44 | €2k | €623 | €7k | €26k | €27k | ▲ 0.9% |
| Suppliers440/4 | - | €623 | €7k | €26k | €27k | ▲ 0.9% |
| Taxes, remuneration and social security45 | - | €421 | - | - | €600 | - |
| Taxes450/3 | - | €421 | - | - | €600 | - |
| Other amounts payable47/48 | - | - | - | - | €1k | - |
| Accrued charges and deferred income492/3 | - | €124 | €126 | €2k | €2k | ▲ 19.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1k | €-227 | €-2k | €-18k | €-16k | ▲ 9.5% |
| + Depreciation and write-downs630 | €10k | €10k | €10k | €14k | €20k | ▲ 42.9% |
| Operating cash flow (approximation) | €11k | €10k | €8k | €-3k | €4k | ▲ 221% |
| Investment in fixed assets (approximation) | - | €0 | €-7k | €-81k | €-74k | ▲ 8.7% |
| Change in cash | - | €8k | €3k | €-18k | €15k | ▲ 184% |
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
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-18k
Net result drops to €-18k, the lowest in the series; recovery starts the following year.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 48.36
Current ratio from 19.79 to 48.36; short-term debt falls from €2k to €1k.
08-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
09-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 1 day late
2018
25-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 10 days late
2016
25-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 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
9 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, Wavre · 1 establishment unit since 2000
Ground area
3,101 m²
Building footprint
262 m²
Volume, LiDAR
1,673 m³
Parcel 25006B0095/00B000, Wallonia · tallest building 18.9 m, ±2 floors. Linked by address, not a title deed.
27
companies at this address
See who is registered here
1 establishment unit
GALATE SA
since 20002.075.651.233
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25006B0095/00B000 | Wallonia | 3,101 m² | 1 · 262 m² | 18.9 m · 2 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.
Identification & contact
Identification
Legal formPublic limited company
Founded15-02-1996
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.