GAPF IMMO
ActiveSummary
GAPF IMMO has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€86,706) and a net result of -€20,303. The computed 12-month bankruptcy probability is 1.5% (low).
Overview
- Equity
- -€86,706
- Loss
- -€20,303
Why 54raises riskCapped at 59: negative equityLiquidity: current ratio 0.00Founded in 2023lowers riskSize: total assets €300,250No main activity registeredShow the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 (no NACE code, micro): better than 5% on solvency, 55% on liquidity, 17% on profitability and 13% on growth.
The bankruptcy probability was computed on 27-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 2 accounts on average 27 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Annual accounts filedfinancial year 2024 · micro…
- IncorporationAppointments: LEROY Geert Leonard Maria…
Financials · financial year 2025, micro format
2024 to 2025, 2 financial years
The operating result stays negative: a loss of €7,317 in 2025 against €58,525 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 1,555 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 91.6% are still going.
- Micro
- 2 to 5 years old
- negative equity
- a small loss
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.5% 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 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 1,555 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,000 | - | - |
| Other operating charges640/8 | €386 | €3,333 | ▲ 763% |
| Gross operating margin9900 | -€22,139 | -€3,984 | ▲ 82.0% |
| Operating profit (loss)9901 | -€58,525 | -€7,317 | ▲ 87.5% |
| Financial charges65/66B | €10,877 | €12,986 | ▲ 19.4% |
| Recurring financial charges65 | €10,877 | €12,986 | ▲ 19.4% |
| Profit (loss) for the period before taxes9903 | -€69,403 | -€20,303 | ▲ 70.7% |
| Profit (loss) for the period9904 | -€69,403 | -€20,303 | ▲ 70.7% |
| Profit (loss) for the period to be appropriated9905 | -€69,403 | -€20,303 | ▲ 70.7% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €300,573 | €300,250 | ▼ 0.1% |
| Fixed assets21/28 | €300,000 | €300,000 | = |
| Tangible fixed assets22/27 | €300,000 | €300,000 | = |
| Land and buildings22 | €300,000 | €300,000 | = |
| Current assets29/58 | €573 | €250 | ▼ 56.3% |
| Amounts receivable within one year40/41 | - | €250 | - |
| Trade receivables40 | - | €250 | - |
| Cash at bank and in hand54/58 | €573 | - | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €300,573 | €300,250 | ▼ 0.1% |
| Equity10/15 | -€66,403 | -€86,706 | ▼ 30.6% |
| Contributions10/11 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | -€69,403 | -€89,706 | ▼ 29.3% |
| Amounts payable17/49 | €366,975 | €386,956 | ▲ 5.4% |
| Amounts payable after more than one year17 | €273,771 | €257,912 | ▼ 5.8% |
| Financial debts170/4 | €273,771 | €257,912 | ▼ 5.8% |
| Amounts payable within one year42/48 | €93,204 | €129,043 | ▲ 38.5% |
| Current portion of amounts payable after more than one year42 | €15,219 | €15,859 | ▲ 4.2% |
| Financial debts43 | - | €814 | - |
| Credit institutions430/8 | - | €814 | - |
| Trade debts44 | €1,815 | €676 | ▼ 62.8% |
| Suppliers440/4 | €1,815 | €676 | ▼ 62.8% |
| Other amounts payable47/48 | €76,170 | €111,695 | ▲ 46.6% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€69,403 | -€20,303 | ▲ 70.7% |
| + Depreciation and write-downs630 | €36,000 | - | - |
| Operating cash flow (approximation) | -€33,403 | -€20,303 | ▲ 39.2% |
| Investment in fixed assets (approximation) | - | €0 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 09-01-2026 | 2026-00006198 |
| 30-06-2024 | micro format | 30-12-2024 | 2025-00630572 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| LEROY Frauke |
|
| LEROY Geert Leonard Maria |
|
Owners and capital
Capital and shareholders
- LEROY Geert Leonard Maria founder
- LEROY Frauke founder
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 03-07-2023 Incorporation · €3,000 · 100 shares
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
History
Acts, filings and financial milestones
03-07
Gazette deed
IncorporationAppointments: LEROY Geert Leonard Maria (director) and LEROY Frauke (director) · Founding capital · Founder10 facts ▸
- Incorporation, 27-06-2023
- Founding capital, €3,000
- Founder, LEROY Geert Leonard Maria
- Founder, LEROY Frauke
- Registered office clause, “1861 Meise (Wolvertem),Jan Hammeneckerstraat 46” (deed in Dutch)
- Pre-incorporation commitments, “takeover, alle verbintenissen,verplichtingen en activiteiten door comparanten in naam en voor rekening van vennootschap in oprichting” (deed in Dutch)
- Board rule, 2, “vergadering” (deed in Dutch)
- Director appointment, LEROY Geert Leonard Maria (director (not named in the articles))
- Director appointment, LEROY Frauke (director (not named in the articles))
- Other provision, “geen beletsel bestuursmandaat, niet getroffen door maatregel die zich tegen aanvaarding verzet” (deed in Dutch) (2 times)
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 28 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits
Source: Omgevingsloket Vlaanderen. Flanders only: Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23093B0176/00R002 | Flanders | 986 m² | 1 · 249 m² | 8.0 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Onderneming in onroerende goederen,vastgoedmakelaar,bemiddeling bij aankoop,verkoop,en verhuur van een onroerend goed voor een vast bedrag…” (deed in Dutch)
14 activities (deed in Dutch)
- Onderneming in onroerende goederen,vastgoedmakelaar,bemiddeling bij aankoop,verkoop,en verhuur van een onroerend goed voor een vast bedrag of op contractbasis,eveneens omvattende alle onroerende bewerkingen en bewerkingen van constructies,namelijk het verwerven,de verkoop en het inrichten van terreinen,inbegrepen hun verkaveling,het ontwerp,de constructie en het inrichten van infrastructuurwerken
- Het verwerven en de verkoop,de constructie,het slopen,het wijzigen en het inrichten van alle onroerende goederen,de handel en de vertegenwoordiging van alle uitrustingen en materialen en constructie;deze projectontwikkeling gaat over alle domeinen van de projecten en alle disciplines,zowel studie,advies,coördinatie,budgettering als uitvoering en verkoop
- De vennootschap mag zich eveneens bezighouden met bemiddeling inzake financieringen,alsook met expertises en schattingen,alsook het beheer van residentiële en niet-residentiële onroerende goederen voor een vast bedrag of op contractbasis,het uitoefenen van het mandaat als syndicus
- Syndicusschap van onroerende goederen in mede-eigendom
- Interieurinrichting en het verstrekken van advies met betrekking tot de inrichting van gebouwen
- Het aanleggen,het oordeelkundig beheer en het uitbreiden van een roerend en onroerend patrimonium
- Alle studies en operaties met betrekking tot alle onroerende goederen en rechten en tot alle roerende goederen en rechten welke daaruit voortvloeien,zoals de aankoop,de bouw,de verbouwing,de aanpassing,de huur en onderhuur,de ruiling,de verkoop en,in het algemeen,alle operaties die rechtstreeks of onrechtstreeks betrekking hebben op het beheer of het productief maken,voor zichzelf of voor anderen,van alle bebouwde of onbebouwde onroerende eigendommen
- Aankoop,verkoop en ruiling,het beheer en de valorisatie van alle verhandelbare waardepapieren,aandelen,obligaties,staatsfondsen en van alle roerende goederen en rechten
- Alle maatregelen treffen tot vrijwaring van haar rechten en alle,om het even welke verrichtingen uitvoeren,die rechtstreeks of onrechtstreeks aansluiten bij of bijdragen tot de bevordering van haar doel
- Investeren in roerende en onroerende goederen,zowel in blote eigendom,tijdelijk vruchtgebruik of volle eigendom in het kader van de exploitatie of/en als belegging
- Functie van bestuurder,vereffenaar of gemandateerde waarnemen evenals elke directiefunctie in ondernemingen
- Alle industriële-,handels-,financiële-,roerende en onroerende handelingen die rechtstreeks of onrechtstreeks bij het voorwerp aansluiten of er de verwezenlijking van kunnen bevorderen;alle verbintenissen aangaan,kredieten en leningen toestaan,zich voor derden borg stellen door goederen in hypotheek of in pand te geven,inclusief eigen handelszaak
- Voorwerp verwezenlijken zowel in België als in buitenland,op wijze die zij best geschikt acht
- Door middel van inbreng,samensmelting of om het even op welke wijze,deelnemen aan alle ondernemingen,die een gelijkaardig,aanvullend of verwant voorwerp nastreven
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- GAPF IMMO
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, administratieve zetels,agentschappen,werkhuizen,stapelplaatsen en bijkantoren in België of buitenland bij enkel besluit…” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, 1” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- “Artikel 15. Organisatie en bijeenroeping. Ieder jaar wordt een gewone algemene vergadering van aandeelhouders gehouden op de zetel, de…” (deed in Dutch)
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor