GALLENCO
ActiveSummary
GALLENCO has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €178,707 and a net result of €163,960. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 10% of 7461 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability80▲+13
Solvency35=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity tight (current ratio 1.42 against 1.22 in 2023; short-term debt: 36.5% and cash: 3.8% of total assets), and 90.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 7461 sector peers (2024).
NBB · sector comparisonPosition among 7461 sector peers
Solvency
better than 10%
← weakest
strongest →
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 07-05-2025, 85 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
85 d early
2023
148 d early
2022
60 d early
2021
78 d late
2020
31 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 6 accounts on average 21 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#6 company by total assets in Nieuwpoort, Construction sector#9 oldest company in Nieuwpoort, Construction sector
Equity
€178,707▲ 2.3%
2023 · €174,747
Total assets
€1.9m▲ 2.8%
2023 · €1.8m
Net result
€163,960
2023 · -€29,207
Working capital
€282,983▲ 76.0%
2023 · €160,745
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€455,562▲ 334%€237,433▼ 47.9%€216,993▼ 8.6%-€16,077€182,656
Net result€441,493above the sector's middle half▲ 350%€225,586above the sector's middle half▼ 48.9%€205,457above the sector's middle half▼ 8.9%-€29,207below the sector's middle half€163,960above the sector's middle half
Equity€131,910within the sector's middle half▼ 2.6%€132,496within the sector's middle half▲ 0.4%€203,953within the sector's middle half▲ 53.9%€174,747within the sector's middle half▼ 14.3%€178,707within the sector's middle half▲ 2.3%
Total assets€1.4mwithin the sector's middle half▲ 43.6%€1.0mwithin the sector's middle half▼ 30.2%€2.0mabove the sector's middle half▲ 95.7%€1.8mabove the sector's middle half▼ 7.3%€1.9mabove the sector's middle half▲ 2.8%
Debt€1.3m▲ 50.9%€869,420▼ 33.3%€1.8m▲ 102%€1.6m▼ 6.4%€1.7m▲ 2.9%
Working capital€771,975above the sector's middle half▲ 35.6%€412,979within the sector's middle half▼ 46.5%€376,311within the sector's middle half▼ 8.9%€160,745within the sector's middle half▼ 57.3%€282,983within the sector's middle half▲ 76.0%
Solvency9.2%below the sector's middle half▼ 4.4pp13.2%below the sector's middle half▲ 4.0pp10.4%below the sector's middle half▼ 2.8pp9.6%below the sector's middle half▼ 0.8pp9.6%below the sector's middle half▼ 0.1pp
Current ratio3.19above the sector's middle half▼ 0.242.56within the sector's middle half▼ 0.631.50within the sector's middle half▼ 1.061.22within the sector's middle half▼ 0.291.42within the sector's middle half▲ 0.20
Return on assets (ROA)30.8%above the sector's middle half▲ 20.9pp22.5%above the sector's middle half▼ 8.3pp10.5%within the sector's middle half▼ 12.0pp-1.6%below the sector's middle half▼ 12.1pp8.8%within the sector's middle half▲ 10.4pp
Staff (FTE)5.7within the sector's middle half▲ 11.8%5.5within the sector's middle half▼ 3.5%5.2within the sector's middle half▼ 5.5%6.3within the sector's middle half▲ 21.2%8within the sector's middle half▲ 27.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €182,656 after a loss of €16,077 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.9m
Fixed assets
€905,170 ▼ 0.8%
Current assets
€964,761 ▲ 6.5%
Equity and liabilities €1.9m
Equity
€178,707 ▲ 2.3%
Debt
€1.7m ▲ 2.9%
Debt's share of the balance-sheet total rises from 90.4% to 90.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€416,265▲
2023 · €200,726
Cash flow
€397,568▲
2023 · €187,596
Quick ratio
0.87▼
2023 · 0.88
Debt to equity
9.46▲
2023 · 9.41
ROE
91.7%▲
2023 · -16.7%
Interest coverage
22.92▲
2023 · 12.94
Debt ≤ 1 year
€681,778▼
2023 · €745,017
Debt > 1 year
€1.0m▲
2023 · €894,651
Income taxes
€1,442▲
2023 · €601
Staff costs
€626,982▲
2023 · €439,837
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 928 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
4.5%
stopped otherwise
93%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 928 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €5,871 | €17,219 | - | €34,770 | - |
| Remuneration, social security and pensions62 | - | €297,712 | €292,804 | €439,837 | €626,982 | ▲ 42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €93,509 | €108,867 | €162,934 | €216,803 | €233,608 | ▲ 7.8% |
| Other operating charges640/8 | - | €17,614 | €12,909 | €13,780 | €13,190 | ▼ 4.3% |
| Gross operating margin9900 | €851,390 | €661,625 | €685,641 | €654,343 | €1.1m | ▲ 61.5% |
| Operating profit (loss)9901 | €455,562 | €237,433 | €216,993 | -€16,077 | €182,656 | ▲ 1,236% |
| Financial income75/76B | - | €3,005 | €1,403 | €2,982 | €910 | ▼ 69.5% |
| Recurring financial income75 | €4,613 | €3,005 | €1,403 | €2,982 | €910 | ▼ 69.5% |
| Financial charges65/66B | - | €5,912 | €12,155 | €15,511 | €18,164 | ▲ 17.1% |
| Recurring financial charges65 | €7,115 | €5,912 | €12,155 | €15,511 | €18,164 | ▲ 17.1% |
| Profit (loss) for the period before taxes9903 | €453,060 | €234,526 | €206,241 | -€28,606 | €165,402 | ▲ 678% |
| Income taxes67/77 | €11,567 | €8,940 | €784 | €601 | €1,442 | ▲ 140% |
| Profit (loss) for the period9904 | €441,493 | €225,586 | €205,457 | -€29,207 | €163,960 | ▲ 661% |
| Profit (loss) for the period to be appropriated9905 | €445,791 | €225,586 | €205,457 | -€29,207 | €163,960 | ▲ 661% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.0m | €2.0m | €1.8m | €1.9m | ▲ 2.8% |
| Fixed assets21/28 | €310,246 | €324,825 | €838,609 | €912,497 | €905,170 | ▼ 0.8% |
| Intangible fixed assets21 | - | - | €23,795 | €24,304 | €22,857 | ▼ 6.0% |
| Tangible fixed assets22/27 | €310,096 | €324,675 | €814,664 | €888,143 | €879,312 | ▼ 1.0% |
| Plant, machinery and equipment23 | - | €73,635 | €302,439 | €374,694 | €325,804 | ▼ 13.0% |
| Furniture and vehicles24 | - | €58,007 | €345,363 | €342,659 | €243,349 | ▼ 29.0% |
| Leasing and similar rights25 | - | €143,488 | €61,731 | €78,004 | €238,394 | ▲ 206% |
| Other tangible fixed assets26 | - | €49,546 | €105,132 | €92,786 | €71,766 | ▼ 22.7% |
| Financial fixed assets28 | €150 | €150 | €150 | €50 | €3,000 | ▲ 5,900% |
| Current assets29/58 | €1.1m | €677,091 | €1.1m | €905,762 | €964,761 | ▲ 6.5% |
| Amounts receivable after more than one year29 | - | €28,332 | - | €15,198 | - | - |
| Other amounts receivable291 | - | €28,332 | - | €15,198 | - | - |
| Stocks and contracts in progress3 | €125,050 | €251,578 | €346,409 | €253,151 | €370,611 | ▲ 46.4% |
| Stocks30/36 | - | €151,131 | €225,121 | €253,151 | €311,908 | ▲ 23.2% |
| Contracts in progress37 | - | €100,447 | €121,288 | - | €58,703 | - |
| Amounts receivable within one year40/41 | €468,281 | €319,659 | €705,912 | €510,878 | €491,125 | ▼ 3.9% |
| Trade receivables40 | - | €269,327 | €485,408 | €457,531 | €421,732 | ▼ 7.8% |
| Other amounts receivable41 | - | €50,332 | €220,504 | €53,347 | €69,393 | ▲ 30.1% |
| Current investments50/53 | €9,699 | €9,699 | €19,906 | €19,906 | €19,906 | = |
| Cash at bank and in hand54/58 | €58,443 | €59,542 | €43,711 | €96,559 | €70,905 | ▼ 26.6% |
| Deferred charges and accrued income490/1 | - | €8,281 | €6,171 | €10,069 | €12,213 | ▲ 21.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.0m | €2.0m | €1.8m | €1.9m | ▲ 2.8% |
| Equity10/15 | €131,910 | €132,496 | €203,953 | €174,747 | €178,707 | ▲ 2.3% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €113,318 | €113,904 | €185,361 | €156,155 | €160,115 | ▲ 2.5% |
| Non-distributable reserves130/1 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves not available under the articles1311 | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Distributable reserves133 | - | €103,904 | €175,361 | €146,155 | €150,115 | ▲ 2.7% |
| Amounts payable17/49 | €1.3m | €869,420 | €1.8m | €1.6m | €1.7m | ▲ 2.9% |
| Amounts payable after more than one year17 | €950,290 | €605,108 | €1.0m | €894,651 | €1.0m | ▲ 12.7% |
| Financial debts170/4 | - | €165,114 | €438,844 | €434,951 | €425,921 | ▼ 2.1% |
| Other amounts payable178/9 | - | €439,995 | €571,613 | €459,700 | €582,266 | ▲ 26.7% |
| Amounts payable within one year42/48 | €352,599 | €264,112 | €745,798 | €745,017 | €681,778 | ▼ 8.5% |
| Current portion of amounts payable after more than one year42 | - | €87,679 | €248,284 | €258,052 | €258,872 | ▲ 0.3% |
| Financial debts43 | - | €10 | €125,000 | €125,000 | €48,268 | ▼ 61.4% |
| Credit institutions430/8 | - | €10 | €125,000 | €125,000 | €48,268 | ▼ 61.4% |
| Trade debts44 | €162,802 | €110,428 | €341,407 | €252,339 | €342,370 | ▲ 35.7% |
| Suppliers440/4 | - | €110,428 | €341,407 | €252,339 | €342,370 | ▲ 35.7% |
| Taxes, remuneration and social security45 | - | €65,995 | €31,107 | €34,339 | €32,268 | ▼ 6.0% |
| Taxes450/3 | - | €42,539 | €22,758 | €18,977 | €4,198 | ▼ 77.9% |
| Remuneration and social security454/9 | - | €23,456 | €8,349 | €15,362 | €28,070 | ▲ 82.7% |
| Other amounts payable47/48 | - | - | - | €75,287 | - | - |
| Accrued charges and deferred income492/3 | - | €200 | €510 | €3,845 | €1,259 | ▼ 67.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €441,493 | €225,586 | €205,457 | -€29,207 | €163,960 | ▲ 661% |
| + Depreciation and write-downs630 | €93,509 | €108,867 | €162,934 | €216,803 | €233,608 | ▲ 7.8% |
| Operating cash flow (approximation) | €535,002 | €334,453 | €368,392 | €187,596 | €397,568 | ▲ 112% |
| Investment in fixed assets (approximation) | - | -€123,446 | -€676,718 | -€290,691 | -€226,281 | ▲ 22.2% |
| Change in cash | - | €1,099 | -€15,832 | €52,849 | -€25,654 | ▼ 149% |
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
07-05
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €163,960
Net result €163,960 after one loss-making year.
05-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet -€29,207
Net result drops to -€29,207, the lowest in the series; recovery starts the following year.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €200,000Eq €203,953 ▲53.9%
5 profitable years in a row build equity to €203,953.
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 78 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €441,493 ▲350%
Operating result €455,562, net result €441,493, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 61 days late
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
14-09
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 45 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Nieuwpoort · 1 establishment unit since 1990
Ground area
8,134 m²
Building footprint
3,093 m²
Volume, LiDAR
23,875 m³
2 parcels, Flanders · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Stationslaan 13, 8620 Nieuwpoort
since 19902.049.723.529
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38021B0352/00B000 | Flanders | 4,928 m² | 1 · 2,774 m² | 11.1 m · 3 fl. |
| 38016A0027/02E000 | Flanders | 3,205 m² | 1 · 319 m² | 8.6 m · 1 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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 7,525 EUR awarded · 7,190 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 3,268 EUR | 3,173 EUR |
| 2024 | 1 | 3,195 EUR | 3,249 EUR |
| 2023 | 1 | 1,062 EUR | 768 EUR |
Recognitions · licences · registrations
Recognised contractor
4 categoriesGALLENCO BV43808
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Of 4,269 companies in sector 43230 we hold annual accounts for 1,241. 998 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-09-1990
Fiscal year end31-12
Activities, NACEBEL 2025
43230Insulation installation
41003General construction of other non-residential buildings
68122Development of non-residential building projects
43120Site preparation
43350Other building finishing work
43410Roofing work
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0441616650
Also
9925:BE0441616650
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.