GAPWORKS
ActiveSummary
GAPWORKS has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €324,389 and a net result of €2,076. Equity has been shrinking by about 4.1% per year since 2018. Its solvency ranks better than 84% of 3,387 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 16-02-2009 Normal situation
- Activity
- Computer programming NACE 62100and 4 others
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2025
- Establishment unit
- 2.176.301.304 9990 Maldegem, since 16-02-2009
- Financial year end
- 31 December
- Peppol
- Reachable since 18-12-2025
Board and ownership
- DE NEVE PhilipDirector · until 2024
- LAMPAERT ChristianneDirector · until 2024
- Christiane Lampaert50%annual accounts 2017
- Philip De Neve50%annual accounts 2017
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €134,120
- ▲ 74.6%
- Turnover
- ≈ €210,000
- estimated
- Profit
- €2,076
- Equity
- €324,389
- ▲ 0.6%
- Total assets
- €386,160
- ▲ 3.0%
- Employees on 31-12-2025
- 2
- =
Score breakdownraises risk1 of the last 3 accounts latelowers riskLiquidity: current ratio 5.76, cash €149,308Equity €324,389 (84.0% of total assets)Sector: Computer programming, consultancy and related activities (NACE 62)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 62, micro). It does better than 85% of them on solvency, 84% on liquidity, 28% on profitability and 44% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 19 days after the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 17 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a profit of €2,546, after a loss of €36,410 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 2 | 2 |
| full-time | 1 | 1 | 2 | 1 |
| part-time | 0 | 0 | 0 | 1 |
| in full-time equivalents | 1 | 1 | 2 | 1.4 |
| Average over the year, in full-time equivalents | 1.4 | 1.4 | 1.7 | 1.6 |
| On a permanent contract | 1 | 1 | 1 | 1 |
| Joined | 1 | 1 | 1 | - |
| Left | 1 | 1 | 0 | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,132 | €21,690 | - | €7,021 | €27,998 |
| Intangible fixed assets | - | - | - | €10,444 | - |
| Depreciation and write-downs of the year | €5,152 | €2,462 | €2,603 | €5,241 | €13,004 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €25,000 awarded · €12,500 paidComparable companies
These companies have the same main activity as GAPWORKS: computer programming (NACE 62100). They are comparable in size and age: total assets between €273,000 and €460,000, founded between 2004 and 2014.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| GAPWORKS Maldegem | 2009 | €386,160 | €324,389 | €134,120 | €2,076 | 1.6 | 2025 |
| CAPTIC Gent | 2004 | €273,480 | €79,751 | €142,774 | €11,490 | 2 | 2025 |
| CimPro Sint-Niklaas | 2007 | €311,290 | €122,457 | €91,283 | -€6,262 | 1 | 2025 |
| AULIVE Software Ieper | 2009 | €308,863 | €85,846 | €151,604 | €1,858 | 2 | 2025 |
| Vertigo creative studio Antwerpen | 2012 | €333,548 | €40,619 | €115,468 | €19,841 | 1.6 | 2025 |
| Incubate Brussel | 2012 | €459,895 | -€24,186 | €179,687 | €28,099 | 1 | 2025 |
| TBSCG Belgium Watermaal-Bosvoorde | 2014 | €323,166 | -€632,401 | €141,636 | -€96,036 | 2 | 2025 |
They were chosen from the 9,111 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 10,904 companies had the same profile as GAPWORKS has now. Two years later, 0.7% had gone bankrupt and 95.1% were still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
That fits the bankruptcy probability of GAPWORKS itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 10,904 companies, not a prediction for GAPWORKS. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6,000 | €5,367 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €91,834 | €96,141 | €104,810 | €107,535 | €118,100 | ▲ 9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,763 | €5,276 | €5,833 | €5,152 | €2,462 | €2,603 | €5,241 | €13,004 | ▲ 148% |
| Other operating charges640/8 | - | - | - | €1,957 | €2,393 | €1,525 | €458 | €470 | ▲ 2.6% |
| Gross operating margin9900 | €129,958 | €216,486 | €166,741 | €115,767 | €31,951 | €74,804 | €76,824 | €134,120 | ▲ 74.6% |
| Operating profit (loss)9901 | €42,127 | €120,673 | €67,899 | €16,825 | -€69,046 | -€34,134 | -€36,410 | €2,546 | - |
| Financial income75/76B | - | - | - | €24 | €159 | €1,641 | €1,311 | €505 | ▼ 61.4% |
| Recurring financial income75 | €259 | €50 | €199 | €24 | €159 | €1,641 | €1,311 | €505 | ▼ 61.4% |
| Financial charges65/66B | - | - | - | €1,303 | €1,197 | €672 | €1,280 | €666 | ▼ 48.0% |
| Recurring financial charges65 | €2,174 | €2,328 | €1,745 | €1,303 | €1,197 | €672 | €1,280 | €666 | ▼ 48.0% |
| Profit (loss) for the period before taxes9903 | €40,212 | €118,395 | €66,353 | €15,546 | -€70,084 | -€33,166 | -€36,379 | €2,386 | - |
| Income taxes67/77 | €11,857 | €34,378 | €20,240 | €5,552 | €387 | €294 | €709 | €310 | ▼ 56.3% |
| Profit (loss) for the period9904 | €28,355 | €84,017 | €46,113 | €9,994 | -€70,471 | -€33,459 | -€37,088 | €2,076 | - |
| Profit (loss) for the period to be appropriated9905 | €28,355 | €84,017 | €46,113 | €9,994 | -€70,471 | -€33,459 | -€37,088 | €2,076 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €398,018 | €495,132 | €552,909 | €563,937 | €440,000 | €421,716 | €374,977 | €386,160 | ▲ 3.0% |
| Fixed assets21/28 | €11,329 | €8,932 | €5,902 | €3,882 | €5,477 | €2,874 | €15,097 | €30,091 | ▲ 99.3% |
| Intangible fixed assets21 | €5,620 | €3,746 | €1,873 | - | - | - | €8,276 | €4,795 | ▼ 42.1% |
| Tangible fixed assets22/27 | €5,710 | €5,186 | €4,029 | €3,882 | €5,477 | €2,874 | €6,821 | €25,296 | ▲ 271% |
| Land and buildings22 | - | - | - | €3,700 | - | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | - | €5,477 | €2,874 | €1,203 | €14 | ▼ 98.9% |
| Furniture and vehicles24 | - | - | - | €182 | - | - | €5,618 | €18,505 | ▲ 229% |
| Other tangible fixed assets26 | - | - | - | - | - | - | - | €6,778 | - |
| Current assets29/58 | €386,689 | €486,199 | €547,007 | €560,055 | €434,523 | €418,842 | €359,880 | €356,069 | ▼ 1.1% |
| Amounts receivable within one year40/41 | €199,918 | €254,148 | €214,204 | €218,555 | €124,366 | €203,945 | €215,752 | €191,083 | ▼ 11.4% |
| Trade receivables40 | - | - | - | €213,666 | €114,270 | €192,952 | €204,940 | €172,412 | ▼ 15.9% |
| Other amounts receivable41 | - | - | - | €4,890 | €10,097 | €10,993 | €10,812 | €18,671 | ▲ 72.7% |
| Current investments50/53 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Cash at bank and in hand54/58 | €105,358 | €220,081 | €318,496 | €328,020 | €283,591 | €202,888 | €128,225 | €149,308 | ▲ 16.4% |
| Deferred charges and accrued income490/1 | - | - | - | €3,480 | €16,566 | €2,008 | €5,903 | €5,678 | ▼ 3.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €398,018 | €495,132 | €552,909 | €563,937 | €440,000 | €421,716 | €374,977 | €386,160 | ▲ 3.0% |
| Equity10/15 | €323,207 | €407,224 | €453,337 | €463,331 | €392,860 | €359,401 | €322,313 | €324,389 | ▲ 0.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €291,541 | €371,541 | €411,541 | €419,541 | €389,541 | €387,681 | €387,681 | €387,681 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €417,681 | €387,681 | €387,681 | €387,681 | €387,681 | = |
| Profit (loss) carried forward14 | €13,066 | €17,083 | €23,196 | €25,190 | -€15,281 | -€46,880 | -€83,968 | -€81,892 | ▲ 2.5% |
| Amounts payable17/49 | €74,811 | €87,908 | €99,572 | €100,606 | €47,140 | €62,315 | €52,664 | €61,771 | ▲ 17.3% |
| Amounts payable within one year42/48 | €74,811 | €87,908 | €99,572 | €100,606 | €47,140 | €62,315 | €52,664 | €61,771 | ▲ 17.3% |
| Trade debts44 | €29,457 | €28,844 | €14,690 | €26,970 | €30,710 | €18,233 | €38,227 | €42,278 | ▲ 10.6% |
| Suppliers440/4 | - | - | - | €26,970 | €30,710 | €18,233 | €38,227 | €42,278 | ▲ 10.6% |
| Taxes, remuneration and social security45 | - | - | - | €16,162 | €16,418 | €43,265 | €12,475 | €12,674 | ▲ 1.6% |
| Taxes450/3 | - | - | - | €1,306 | €741 | €27,432 | €363 | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | - | €14,856 | €15,677 | €15,832 | €12,112 | €12,674 | ▲ 4.6% |
| Other amounts payable47/48 | - | - | - | €57,474 | €12 | €817 | €1,962 | €6,818 | ▲ 248% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,355 | €84,017 | €46,113 | €9,994 | -€70,471 | -€33,459 | -€37,088 | €2,076 | - |
| + Depreciation and write-downs630 | €4,763 | €5,276 | €5,833 | €5,152 | €2,462 | €2,603 | €5,241 | €13,004 | ▲ 148% |
| Operating cash flow (approximation) | €33,118 | €89,293 | €51,947 | €15,146 | -€68,008 | -€30,856 | -€31,847 | €15,080 | - |
| Investment in fixed assets (approximation) | - | -€2,879 | -€2,803 | -€3,132 | -€4,057 | €0 | -€17,464 | -€27,998 | ▼ 60.3% |
| Change in cash | - | €114,723 | €98,415 | €9,525 | -€44,430 | -€80,702 | -€74,663 | €21,083 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-06-2026 | 2026-00220099 | NBB |
| 31-12-2024 | abbreviated format | 27-08-2025 | 2025-00416389 | |
| 31-12-2023 | abbreviated format | 08-10-2024 | 2024-00499304 | |
| 31-12-2022 | micro format | 08-08-2023 | 2023-00319437 | |
| 31-12-2021 | micro format | 10-08-2022 | 2022-20281247 | |
| 31-12-2020 | micro format | 26-08-2021 | 2021-54200122 | |
| 31-12-2019 | micro format | 21-08-2020 | 2020-43600150 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-41700274 | |
| 31-12-2017 | micro format | 27-07-2018 | 2018-40500427 | |
| 31-12-2016 | micro format | 18-08-2017 | 2017-45300015 |
Board & ownership
Directors
Owners and capital
Shareholders
2 ownersOwners 2
- Christiane Lampaertnatural personSourceown accounts 201750%
- Philip De Nevenatural personSourceown accounts 201750%
Capital transactions
- LAMPAERT Chistianne
- 03-01-2024 Converted to unavailable equity
- 03-01-2024 Converted to available equity
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| DE NEVE Philip |
|
| LAMPAERT Christianne |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Voorzitter ondernemingsrechtbank zoals in kort geding, gespreid vier jaar telkens 20% uiterlijk 6,12,24,36,48 maanden na aangetekend…”
Articles of association, deed of 03-01-2024 (in Dutch)
Network & group
Connections & network
See the function holders in the KBO register.
Timeline
Acts, filings and financial milestones
03-01
Gazette deed
Changes of role: DE NEVE Philip (statutory director) and LAMPAERT Christianne (opvolgend statutair bestuurder)Legal-form conversion · Amendment of the articles · Purpose change31 points ▸
- General meeting, 19-12-2023
- Legal-form conversion, “besloten vennootschap(BV)” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Other provision, “verslag bestuursorgaan over voorgestelde wijziging voorwerp artikel 5:101 WVV”, 19-12-2023 (deed in Dutch)
- Purpose change
- Kind of shares, “onderverdeling bestaande honderd(100)aandelen in twee soorten”, 50 (deed in Dutch)
- Other provision, “verantwoording opdeling aandelen in soort A en B, creatie soorten vereist opdat derden geen stemrecht zouden verkrijgen op algemene vergadering” (deed in Dutch)
- Other provision, “afstand verslag bedrijfsrevisor, geen financiele invloed creatie soorten” (deed in Dutch)
- Other provision, “notaris, termijn_15_dagen_art_5:83_5:84_niet_nageleefd” (deed in Dutch)
- Other provision, “geen bezwaar voldoende ingelicht, alle aanwezige aandeelhouders” (deed in Dutch)
- Other provision, “geen opmerkingen op verslagen, inhoud verslagen” (deed in Dutch)
- Other provision, “vooraf afschrift ontvangen en kennisgenomen, voorzitter en notaris” (deed in Dutch)
- The act holds 19 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 43503H1317/00X002 | Flanders | 1,095 m² | 1 · 192 m² | 10.9 m · 3 |
| 43502D0018/00G000 | Flanders | 636 m² | 1 · 214 m² | 8.6 m · 2 |