GANAR
ActiveSummary
The computed 12-month bankruptcy probability of GANAR is 2.0% (moderate). The 2024 annual accounts show equity of €44,699 and a net result of €34,411. Equity is growing by ~22% per year across the filed fiscal years. Its solvency ranks better than 78% of 36381 sector peers (fiscal year 2024). The company has been active since 1992 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+12
Solvency98▼-2
Growth78▲+26
Track record92
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,500 at 30 days acceptable
Liquidity ample (current ratio 89.24 against 49.73 in 2023; short-term debt: 1.1% and cash: 24.7% of total assets), and 27.4% of the assets are financed with debt.
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Signals
Six 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
28 d late
2023
50 d late
2022
88 d late
2021
254 d late
2020
613 d late
2019
152 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 198 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
UBO non-compliance
History
Go further with this company
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Financials · fiscal year 2024, micro schema
Equity
€44,699▲ 10.9%
2023 · €40,288
Total assets
€61,558▲ 50.2%
2023 · €40,991
Net result
€34,411▲ 316%
2023 · €8,262
Working capital
€57,444▲ 67.6%
2023 · €34,270
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-€37€45,287-€1,123€10,444€42,513▲ 307%
Net result-€37below the sector's middle half€44,252above the sector's middle half-€1,173below the sector's middle half€8,262within the sector's middle half€34,411above the sector's middle half▲ 316%
Equity€8,947below the sector's middle half▼ 0.4%€33,199within the sector's middle half▲ 271%€32,026within the sector's middle half▼ 3.5%€40,288within the sector's middle half▲ 25.8%€44,699within the sector's middle half▲ 10.9%
Total assets€9,443below the sector's middle half▼ 38.4%€54,046below the sector's middle half▲ 472%€33,532below the sector's middle half▼ 38.0%€40,991below the sector's middle half▲ 22.2%€61,558below the sector's middle half▲ 50.2%
Debt€496▼ 92.2%€20,847▲ 4,102%€1,507▼ 92.8%€703▼ 53.3%€16,859▲ 2,297%
Working capital€8,947within the sector's middle half▼ 0.4%€33,199within the sector's middle half▲ 271%€32,026within the sector's middle half▼ 3.5%€34,270within the sector's middle half▲ 7.0%€57,444within the sector's middle half▲ 67.6%
Solvency94.7%above the sector's middle half▲ 36.2pp61.4%within the sector's middle half▼ 33.3pp95.5%above the sector's middle half▲ 34.1pp98.3%above the sector's middle half▲ 2.8pp72.6%above the sector's middle half▼ 25.7pp
Current ratio19.03above the sector's middle half▲ 16.622.59within the sector's middle half▼ 16.4422.26above the sector's middle half▲ 19.6749.73above the sector's middle half▲ 27.4789.24above the sector's middle half▲ 39.52
Return on assets (ROA)-0.4%below the sector's middle half▼ 62.2pp81.9%above the sector's middle half▲ 82.3pp-3.5%below the sector's middle half▼ 85.4pp20.2%above the sector's middle half▲ 23.7pp55.9%above the sector's middle half▲ 35.7pp
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 micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 307% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €61,558
Fixed assets
€3,463 ▼ 42.5%
Current assets
€58,095 ▲ 66.1%
Equity and liabilities €61,558
Equity
€44,699 ▲ 10.9%
Debt
€16,859 ▲ 2,297%
Debt's share of the balance-sheet total rises from 1.7% to 27.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€45,068▲
2023 · €12,870
Cash flow
€36,966▲
2023 · €10,688
Debt to equity
0.38▲
2023 · 0.02
ROE
77.0%▲
2023 · 20.5%
Debt ≤ 1 year
€651▼
2023 · €703
Income taxes
€8,102▲
2023 · €2,182
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,371 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 31,371 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €2,426 | €2,555 | ▲ 5.3% |
| Other operating charges640/8 | €250 | - | - | - | - | - |
| Gross operating margin9900 | €213 | €45,287 | -€1,123 | €12,870 | €45,068 | ▲ 250% |
| Operating profit (loss)9901 | -€37 | €45,287 | -€1,123 | €10,444 | €42,513 | ▲ 307% |
| Financial charges65/66B | - | - | €50 | - | - | - |
| Recurring financial charges65 | - | - | €50 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€37 | €45,287 | -€1,173 | €10,444 | €42,513 | ▲ 307% |
| Income taxes67/77 | - | €1,035 | - | €2,182 | €8,102 | ▲ 271% |
| Profit (loss) for the period9904 | -€37 | €44,252 | -€1,173 | €8,262 | €34,411 | ▲ 316% |
| Profit (loss) for the period to be appropriated9905 | -€37 | €44,252 | -€1,173 | €8,262 | €34,411 | ▲ 316% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9,443 | €54,046 | €33,532 | €40,991 | €61,558 | ▲ 50.2% |
| Fixed assets21/28 | - | - | - | €6,018 | €3,463 | ▼ 42.5% |
| Tangible fixed assets22/27 | - | - | - | €6,018 | €3,463 | ▼ 42.5% |
| Plant, machinery and equipment23 | - | - | - | €1,685 | €1,296 | ▼ 23.1% |
| Furniture and vehicles24 | - | - | - | €4,333 | €2,167 | ▼ 50.0% |
| Current assets29/58 | €9,443 | €54,046 | €33,532 | €34,973 | €58,095 | ▲ 66.1% |
| Amounts receivable within one year40/41 | €1,939 | €39,681 | €20,751 | €15,995 | €42,921 | ▲ 168% |
| Trade receivables40 | - | €33,434 | €15,797 | €6,942 | €30,066 | ▲ 333% |
| Other amounts receivable41 | €1,939 | €6,247 | €4,954 | €9,053 | €12,855 | ▲ 42.0% |
| Cash at bank and in hand54/58 | €7,504 | €7,813 | €8,503 | €17,372 | €15,174 | ▼ 12.7% |
| Deferred charges and accrued income490/1 | - | €6,552 | €4,278 | €1,606 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9,443 | €54,046 | €33,532 | €40,991 | €61,558 | ▲ 50.2% |
| Equity10/15 | €8,947 | €33,199 | €32,026 | €40,288 | €44,699 | ▲ 10.9% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €8,672 | €32,924 | €32,924 | €41,186 | €45,597 | ▲ 10.7% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Distributable reserves133 | €6,813 | €31,065 | €31,065 | €39,327 | €43,738 | ▲ 11.2% |
| Profit (loss) carried forward14 | -€18,317 | -€18,317 | -€19,490 | -€19,490 | -€19,490 | = |
| Amounts payable17/49 | €496 | €20,847 | €1,507 | €703 | €16,859 | ▲ 2,297% |
| Amounts payable within one year42/48 | €496 | €20,847 | €1,507 | €703 | €651 | ▼ 7.4% |
| Trade debts44 | €496 | €847 | €1,507 | €703 | €651 | ▼ 7.4% |
| Suppliers440/4 | €496 | €847 | €1,507 | €703 | €651 | ▼ 7.4% |
| Other amounts payable47/48 | - | €20,000 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €16,208 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€37 | €44,252 | -€1,173 | €8,262 | €34,411 | ▲ 316% |
| + Depreciation and write-downs630 | - | - | - | €2,426 | €2,555 | ▲ 5.3% |
| Operating cash flow (approximation) | -€37 | €44,252 | -€1,173 | €10,688 | €36,966 | ▲ 246% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | €309 | €689 | €8,870 | -€2,198 | ▼ 125% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
25-10
KBO administration
UBO non-compliance
event 14-10-2024
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 50 days late
2023
31-12
Financial
Back to profitnet €8,262
Net result €8,262 after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 49.73
Current ratio from 22.26 to 49.73; short-term debt falls from €1,507 to €703.
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 88 days late
11-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 254 days late
05-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 613 days late
2022
31-12
Financial
Weakest financial yearnet -€1,173
Net result drops to -€1,173, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 9current ratio 22.26
Current ratio from 2.59 to 22.26; short-term debt falls from €20,847 to €1,507.
2021
31-12
Financial
Back to profitnet €44,252
Net result €44,252 after one loss-making year.
2020
31-12
Financial
Liquidity times 8current ratio 19.03
Current ratio from 2.41 to 19.03; short-term debt falls from €6,358 to €496.
Show earlier events
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 152 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 21 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
24-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 24 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Lokeren · 1 establishment unit since 1992
Ground area
675 m²
Building footprint
239 m²
Volume, LiDAR
1,187 m³
2 parcels, Flanders · tallest building 13.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
GANAR
since 19922.059.792.129
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46014A0634/00X004 | Flanders | 368 m² | 1 · 149 m² | 13.9 m · 3 fl. |
| 46382B1699/00E000 | Flanders | 307 m² | 1 · 90 m² | 3.4 m |
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.
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Of 8,464 companies in sector 43120 we hold annual accounts for 3,234. 2,447 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 (pre-2019)
Founded01-10-1992
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0448361912
Also
9925:BE0448361912
Registered
03-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.