GALCOM
ActiveSummary
The computed 12-month bankruptcy probability of GALCOM is 2.0% (moderate). The 2025 annual accounts show negative equity (€-1.16M) and a net result of €-20k. Equity is growing by ~4.4% per year across the filed fiscal years. The company has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability27▼-5
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.06 against 6.73 in 2024; short-term debt: 8.5% and cash: 14.3% of total assets), but equity is negative.
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Signals
Six 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 2025Solvency, return and age of the figures
Solvency
-128.4%
Return on assets
-2.2%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-1.16M
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 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 d early
2024
40 d early
2023
30 d early
2022
46 d early
2021
30 d early
2020
98 d early
2019
63 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-20k
2024 · €2k
Working capital
€82k▼ 67.4%
2024 · €251k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€-104k€558k€100k▼ 82.2%€134k▲ 34.8%€112k▼ 16.3%
Net result€-236k€425k€-32k€2k€-20k
Equity€-1.54M▼ 18.1%€-1.11M▲ 27.6%€-1.15M▼ 2.9%€-1.14M▲ 0.2%€-1.16M▼ 1.7%
Total assets€598k▼ 22.8%€958k▲ 60.2%€928k▼ 3.1%€921k▼ 0.7%€907k▼ 1.6%
Debt€2.14M▲ 2.9%€2.07M▼ 3.1%€2.07M▲ 0.1%€2.07M▼ 0.4%€2.07M▲ 0.3%
Working capital€104k▼ 43.3%€390k▲ 276%€321k▼ 17.7%€251k▼ 21.8%€82k▼ 67.4%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 16% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €907k
Fixed assets
€748k ▲ 19.5%
Current assets
€159k ▼ 46.2%
Key figures and ratios
EBITDA
€178k▼
2024 · €199k
Cash flow
€46k▼
2024 · €67k
Solvency
-128.4%▼
2024 · -124.2%
Current ratio
2.06▼
2024 · 6.73
Debt to equity
-1.78▲
2024 · -1.81
ROA
-2.2%▼
2024 · 0.2%
Interest coverage
1.35▼
2024 · 1.51
Debt ≤ 1 year
€77k▲
2024 · €44k
Debt > 1 year
€1.90M=
2024 · €1.90M
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €103k | €80k | €70k | €65k | €66k | ▲ 2.3% |
| Other operating charges640/8 | €22k | €22k | €25k | €26k | €27k | ▲ 3.1% |
| Gross operating margin9900 | €21k | €659k | €195k | €225k | €206k | ▼ 8.7% |
| Operating profit (loss)9901 | €-104k | €558k | €100k | €134k | €112k | ▼ 16.3% |
| Financial income75/76B | €3 | - | - | - | - | - |
| Recurring financial income75 | €3 | - | - | - | - | - |
| Non-recurring financial income76B | €3 | - | - | - | - | - |
| Financial charges65/66B | €132k | €132k | €132k | €132k | €132k | = |
| Recurring financial charges65 | €132k | €132k | €132k | €132k | €132k | = |
| Non-recurring financial charges66B | €132k | €132k | €132k | - | - | - |
| Profit (loss) for the period before taxes9903 | €-236k | €425k | €-32k | €2k | €-20k | ▼ 968% |
| Profit (loss) for the period9904 | €-236k | €425k | €-32k | €2k | €-20k | ▼ 968% |
| Profit (loss) for the period to be appropriated9905 | €-236k | €425k | €-32k | €2k | €-20k | ▼ 968% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €598k | €958k | €928k | €921k | €907k | ▼ 1.6% |
| Fixed assets21/28 | €494k | €524k | €565k | €626k | €748k | ▲ 19.5% |
| Tangible fixed assets22/27 | €492k | €523k | €565k | €626k | €747k | ▲ 19.5% |
| Land and buildings22 | €489k | €518k | €461k | €513k | €642k | ▲ 25.1% |
| Furniture and vehicles24 | €3k | €5k | €101k | €110k | €104k | ▼ 6.2% |
| Other tangible fixed assets26 | - | - | €2k | €2k | €2k | ▼ 12.4% |
| Financial fixed assets28 | €1k | €1k | €500 | €500 | €500 | = |
| Current assets29/58 | €104k | €433k | €363k | €295k | €159k | ▼ 46.2% |
| Amounts receivable within one year40/41 | €4k | €10k | €12k | €18k | €8k | ▼ 57.9% |
| Trade receivables40 | €4k | €10k | €12k | €2k | €2k | ▲ 44.2% |
| Other amounts receivable41 | - | - | - | €17k | €5k | ▼ 68.3% |
| Cash at bank and in hand54/58 | €85k | €399k | €328k | €258k | €130k | ▼ 49.6% |
| Deferred charges and accrued income490/1 | €15k | €24k | €24k | €19k | €21k | ▲ 11.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €598k | €958k | €928k | €921k | €907k | ▼ 1.6% |
| Equity10/15 | €-1.54M | €-1.11M | €-1.15M | €-1.14M | €-1.16M | ▼ 1.7% |
| Contributions10/11 | €2.27M | €2.27M | €2.27M | €2.27M | €2.27M | = |
| Profit (loss) carried forward14 | €-3.81M | €-3.38M | €-3.41M | €-3.41M | €-3.43M | ▼ 0.6% |
| Amounts payable17/49 | €2.14M | €2.07M | €2.07M | €2.07M | €2.07M | ▲ 0.3% |
| Amounts payable after more than one year17 | €1.90M | €1.90M | €1.90M | €1.90M | €1.90M | = |
| Financial debts170/4 | €1.90M | €1.90M | €1.90M | €1.90M | €1.90M | = |
| Amounts payable within one year42/48 | €393 | €43k | €42k | €44k | €77k | ▲ 75.5% |
| Trade debts44 | €393 | €43k | €42k | €5k | €38k | ▲ 648% |
| Suppliers440/4 | €393 | €43k | €42k | €5k | €38k | ▲ 648% |
| Taxes, remuneration and social security45 | - | - | - | €39k | €39k | = |
| Taxes450/3 | - | - | - | €39k | €39k | = |
| Other amounts payable47/48 | - | - | - | - | €65 | - |
| Accrued charges and deferred income492/3 | €240k | €132k | €136k | €125k | €97k | ▼ 22.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-236k | €425k | €-32k | €2k | €-20k | ▼ 968% |
| + Depreciation and write-downs630 | €103k | €80k | €70k | €65k | €66k | ▲ 2.3% |
| Operating cash flow (approximation) | €-133k | €505k | €38k | €67k | €46k | ▼ 30.5% |
| Investment in fixed assets (approximation) | - | €-110k | €-111k | €-126k | €-188k | ▼ 49.7% |
| Change in cash | - | €314k | €-71k | €-70k | €-128k | ▼ 82.9% |
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
2026
04-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-12
Financial
Back to profitnet €425k
Net result €425k after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-12
Financial
Weakest financial yearnet €-236k
Net result drops to €-236k, the lowest in the series; recovery starts the following year.
30-12
Financial
Liquidity triplescurrent ratio 265.11
Current ratio from 96.46 to 265.11; short-term debt falls from €2k to €393.
23-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-12
Financial
Back to profitnet €327k
Net result €327k after 2 loss-making years.
30-12
Financial
Liquidity times 7current ratio 96.46
Current ratio from 13.94 to 96.46; short-term debt falls from €11k to €2k.
Show earlier events
28-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · full 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, Elsene · 1 establishment unit since 1987
Ground area
1,382 m²
Building footprint
1,014 m²
Volume, LiDAR
30,281 m³
2 parcels, Brussels · tallest building 45.1 m, ±13 floors. Linked by address, not a title deed.
15
companies at this address
See who is registered here
1 establishment unit
GALCOM SA
since 19872.031.535.732
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0123/00E004 | Brussels | 1,164 m² | 1 · 815 m² | 45.1 m · 13 fl. |
| 21443C0074/00G000 | Brussels | 217 m² | 1 · 199 m² | 18.3 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded26-03-1987
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.