Equity
€9,957 from €281,436 in 2017
Equity fell by 96% in 8 years.
GAMMATHERM
Lifetime
15 annual accounts with figures on one time axispeak €149,782 (2010)
-€56,021▼ €83,345
lowest -€74,601 (2025)
-€74,601▼ €64,242
peak €281,436 (2017)
€9,957▼ 88.2%
€132,011▲ 16.2%
peak 1 FTE (2010)
-not published
Board4 names since 2009
2 directorsLECLERCQ Vincent and 1 other
Documentsfilings and deeds
29-01-20262 days before the deadline
2025micro format
Gross margin from €27,324 to -€56,021Loss of €74,601Equity from €84,558 to €9,957Debts from €113,591 to €132,011Cash from €27,958 to €6,750
Key points
from the 2025 annual accountsResult
-€74,601 ▼ 620%
The result fell in 2025 from -€10,359 to -€74,601.
Debts
€132,011 93% of the balance sheet
Suppliers 3%Taxes and wages 0%Other 97%
Investments
€7,383 2.2 × depreciation
Green is investment, beige is depreciation.
Liquidity
0.55 was 1.09 in 2024
Short-term debts rose from €113,591 to €132,011.
Position in the sector
-€74,601
Lower net result than 95% of companies in wholesale trade. Sector median €5,616 · 13,806 companies.
Checked score
53
Fair
Financially stronger than 10% of micro companies in wholesale trade (NACE 46)
Probability in this band: 1.5% to 4.2%
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59.
Bankruptcy probability within 12 months
1.0% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,888 companies (NACE 46, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%lowest value
01-2025: 0.3%● unchanged vs 12-2024
02-2025: 0.6%▲ +0.3 percentage points vs 01-2025
03-2025: 0.6%● unchanged vs 02-2025
04-2025: 0.6%● unchanged vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.6%● unchanged vs 06-2025
08-2025: 0.6%● unchanged vs 07-2025
09-2025: 0.6%● unchanged vs 08-2025
10-2025: 0.7%▲ +0.1 percentage points vs 09-2025
11-2025: 0.8%▲ +0.1 percentage points vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 2.0%▲ +1.2 percentage points vs 01-2026highest value
03-2026: 2.0%● unchanged vs 02-2026highest value
04-2026: 1.0%▼ -1.0 percentage point vs 03-2026
05-2026: 1.0%● unchanged vs 04-2026
06-2026: 1.0%● unchanged vs 05-2026
07-2026: 1.0%● unchanged vs 06-2026
08-2026: 1.0%● unchanged vs 07-2026
09-2026: 1.0%● unchanged vs 08-2026
10-2026: 1.0%● unchanged vs 09-2026
11-2026: 1.0%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year
Loss of €74,601, the second in a row (financial year 2025)
Equity €9,957 (7.0% of total assets)
lowers risk
Size: total assets €141,968
Founded in 2009
Calculation
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 46, micro). It does better than 21% of them on solvency, 8% on liquidity, 6% on profitability and 5% on growth.
The bankruptcy probability was computed on 08-11-2026 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 30-06-2025.
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).
Comparable companies, two years later
In July 2024, 642 companies had the same profile as GAMMATHERM has now. Each dot stands for 2 companies, two years later.
89.9%
were still trading
5.5%
stopped another way
3.6%
went bankrupt
Another 1.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GAMMATHERM itself: 1.0% within 12 months.
Test of the method
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 642 companies, not a prediction for GAMMATHERM. 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.
Credit verdict
Credit of up to €500 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.55 (1.09 in 2024), below 1. Short-term debt is 93% and cash 4.8% of total assets. 93% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€74,601
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 13800 sector peers (2025).
NBB · sector comparisonPosition among 13800 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 29-01-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 days early
2024
3 days late
2023
5 days early
2022
36 days early
2021
11 days early
2020
28 days early
2019
3 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 12 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 26 January (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end09-11-2026 today31-01-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0821408470
Registered office moved to Remicourt
New registered office: Avenue Delmotte 15, 4350 Remicourt · Change of role: LECLERCQ Vincent, from statutory manager to director · Resignation: GEUNS Stéphanie (manager) · General meeting of 08-03-2024 · Gazette deed
First establishment
Av. Maurice Delmotte 15, Remicourt
Resignation: Denys DEVADDER (director)
General meeting of 14-06-2020 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GAMMATHERM Remicourt | €141,968 | -€56,021 | 7.0% | - |
| SOLARDIS Mechelen | €97,996 | -€2,430 | 71.1% | - |
| ECOFLAMME COMMERCIAL Bièvre | €154,738 | -€3,022 | -52.3% | - |
| ProTeam Balen | €209,769 | -€5,015 | 16.0% | - |
| NOVA CURA LASER ESTHETICA Diepenbeek | €125,671 | -€7,033 | -45.7% | - |
| INTERBO-LACROIX Gingelom | €365,797 | €125 | 99.5% | - |
| ORCHEL BELGIUM Mons | €61,198 | -€786 | -4.5% | 0 |
These companies have the same main activity as GAMMATHERM: wholesale trade (NACE 46842). They are comparable in size and age: total assets between €61,200 and €366,000, founded between 2002 and 2015.
Official details
Source: KBO- Status
- Active since 14-12-2009Normal situation
- Activity
- Wholesale tradeNACE 46842and 2 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 30-06-2022
- Establishment unit
- 2.357.962.2114350 Remicourt, since 15-03-2024
- Financial year end
- 30 June
- Peppol
- Reachable since 16-12-2025
Annual accounts to 30-06-2025
- €141,968▼ 28.4%
- Filing
- Filed on 29-01-2026, 2 days before the end of the filing period
Insights on GAMMATHERM
GAMMATHERM files the micro format. That format states no turnover. The gross margin fell from €149,782 in 2010 to -€56,021 in 2025.
The balance sheet grew most from 2015 to 2017 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about GAMMATHERM
- What is the company number of GAMMATHERM?
- The company number of GAMMATHERM is 0821.408.470. The VAT number is the same number with BE in front: BE 0821.408.470.
- Where is GAMMATHERM based?
- The registered office is at Av. Maurice Delmotte 15, 4350 Remicourt.Company details
- What does GAMMATHERM do?
- According to the KBO register, the main activity is wholesale trade (NACE 46842).
- What is the legal form of GAMMATHERM?
- GAMMATHERM is a private limited company (BV).
- When was GAMMATHERM founded?
- GAMMATHERM was founded on 14-12-2009.
- Is GAMMATHERM still active?
- Yes, GAMMATHERM is an active enterprise in the KBO register.
- How many employees does GAMMATHERM have?
- GAMMATHERM had an average of 1 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- Which joint committee does GAMMATHERM fall under?
- In its 30-06-2022 annual accounts, GAMMATHERM states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of GAMMATHERM?
- The annual accounts for financial year 2025 state no turnover. In financial year 2022 turnover was €353,820.
- Is GAMMATHERM profitable?
- In financial year 2025, GAMMATHERM made a loss of €74,601.
- Where can I find the annual accounts of GAMMATHERM?
- GAMMATHERM filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of GAMMATHERM due?
- GAMMATHERM must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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