GARCO
ActiveSummary
For GARCO, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show negative equity (-€24,324) and a net result of €893. Equity is shrinking by ~4.7% per year across the filed fiscal years. The company has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability69▼-8
Solvency12=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2023Solvency, return and age of the figures
Solvency
-12.7%
Return on assets
0.5%
Age of the figures
33 mo
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 · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline28-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 18-11-2024, 110 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
110 d late
2022
61 d late
2021
61 d late
2020
91 d late
2019
102 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 85 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
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Financials · fiscal year 2023, micro schema
Equity
-€24,324▲ 3.5%
2022 · -€25,216
Total assets
€190,944▼ 1.0%
2022 · €192,823
Net result
€893▼ 92.9%
2022 · €12,573
Working capital
-€20,694▼ 32.4%
2022 · -€15,624
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result€1,524▼ 58.1%-€23,652€2,923€12,621▲ 332%€948▼ 92.5%
Net result€1,524▼ 57.5%-€23,678€2,849€12,573▲ 341%€893▼ 92.9%
Equity-€16,961▲ 8.2%-€40,639▼ 140%-€37,790▲ 7.0%-€25,216▲ 33.3%-€24,324▲ 3.5%
Total assets€236,035▲ 4.8%€225,160▼ 4.6%€199,943▼ 11.2%€192,823▼ 3.6%€190,944▼ 1.0%
Debt€252,996▲ 3.8%€265,799▲ 5.1%€237,733▼ 10.6%€218,039▼ 8.3%€215,268▼ 1.3%
Working capital-€28,394▲ 40.3%-€45,897▼ 61.6%-€56,417▼ 22.9%-€15,624▲ 72.3%-€20,694▼ 32.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2023; 2023 is 92% below 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €190,944
Fixed assets
€189,771 ▼ 1.6%
Current assets
€1,173 ▲ 8,342%
Key figures and ratios
EBITDA
€3,985▼
2022 · €18,696
Cash flow
€3,931▼
2022 · €18,649
Solvency
-12.7%▲
2022 · -13.1%
Current ratio
0.05▲
2022 · 0.00
Debt to equity
-8.85▼
2022 · -8.65
ROA
0.5%▼
2022 · 6.5%
Interest coverage
72.59▼
2022 · 393.19
Debt ≤ 1 year
€21,867▲
2022 · €15,638
Debt > 1 year
€193,401▼
2022 · €202,401
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,260 | €6,075 | €6,075 | €6,075 | €3,038 | ▼ 50.0% |
| Other operating charges640/8 | - | - | €8,151 | €8,347 | €14,262 | ▲ 70.9% |
| Gross operating margin9900 | €13,694 | -€9,189 | €17,149 | €27,043 | €18,248 | ▼ 32.5% |
| Operating profit (loss)9901 | €1,524 | -€23,652 | €2,923 | €12,621 | €948 | ▼ 92.5% |
| Financial charges65/66B | - | - | €74 | €48 | €55 | ▲ 15.5% |
| Recurring financial charges65 | - | €26 | €74 | €48 | €55 | ▲ 15.5% |
| Profit (loss) for the period before taxes9903 | €1,524 | -€23,678 | €2,849 | €12,573 | €893 | ▼ 92.9% |
| Profit (loss) for the period9904 | €1,524 | -€23,678 | €2,849 | €12,573 | €893 | ▼ 92.9% |
| Profit (loss) for the period to be appropriated9905 | €1,524 | -€23,678 | €2,849 | €12,573 | €893 | ▼ 92.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €236,035 | €225,160 | €199,943 | €192,823 | €190,944 | ▼ 1.0% |
| Fixed assets21/28 | €211,035 | €204,960 | €198,885 | €192,809 | €189,771 | ▼ 1.6% |
| Tangible fixed assets22/27 | €211,035 | €204,960 | €198,885 | €192,809 | €189,771 | ▼ 1.6% |
| Land and buildings22 | - | - | €198,885 | €192,809 | €189,771 | ▼ 1.6% |
| Current assets29/58 | €25,000 | €20,200 | €1,058 | €14 | €1,173 | ▲ 8,342% |
| Amounts receivable within one year40/41 | €25,000 | €20,200 | - | - | - | - |
| Cash at bank and in hand54/58 | - | - | €1,058 | €14 | €1,173 | ▲ 8,342% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €236,035 | €225,160 | €199,943 | €192,823 | €190,944 | ▼ 1.0% |
| Equity10/15 | -€16,961 | -€40,639 | -€37,790 | -€25,216 | -€24,324 | ▲ 3.5% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €62,586 | €62,586 | €62,586 | €62,586 | €62,586 | = |
| Non-distributable reserves130/1 | - | - | €407 | €407 | €407 | = |
| Legal reserve130 | - | - | €407 | €407 | €407 | = |
| Distributable reserves133 | - | - | €62,179 | €62,179 | €62,179 | = |
| Profit (loss) carried forward14 | -€141,547 | -€165,225 | -€162,376 | -€149,803 | -€148,910 | ▲ 0.6% |
| Amounts payable17/49 | €252,996 | €265,799 | €237,733 | €218,039 | €215,268 | ▼ 1.3% |
| Amounts payable after more than one year17 | €199,602 | €199,702 | €180,258 | €202,401 | €193,401 | ▼ 4.4% |
| Financial debts170/4 | - | - | €180,258 | €202,401 | €193,401 | ▼ 4.4% |
| Amounts payable within one year42/48 | €53,394 | €66,097 | €57,475 | €15,638 | €21,867 | ▲ 39.8% |
| Financial debts43 | - | - | €2,593 | €2,593 | €2,593 | = |
| Credit institutions430/8 | - | - | €2,593 | €2,593 | €2,593 | = |
| Trade debts44 | €14,984 | €27,684 | €29,558 | €8,372 | €14,600 | ▲ 74.4% |
| Suppliers440/4 | - | - | €29,558 | €8,372 | €14,600 | ▲ 74.4% |
| Other amounts payable47/48 | - | - | €25,324 | €4,673 | €4,673 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,524 | -€23,678 | €2,849 | €12,573 | €893 | ▼ 92.9% |
| + Depreciation and write-downs630 | €4,260 | €6,075 | €6,075 | €6,075 | €3,038 | ▼ 50.0% |
| Operating cash flow (approximation) | €5,784 | -€17,603 | €8,924 | €18,649 | €3,931 | ▼ 78.9% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | ▼ 100% |
| Change in cash | - | - | - | -€1,044 | €1,159 | ▲ 211% |
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
2024
18-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 110 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Highest result since 2018net €12,573 ▲341%
Operating result €12,621, net result €12,573, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-12
Financial
Back to profitnet €2,849
Net result €2,849 after one loss-making year.
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 91 days late
2020
31-12
Financial
Weakest financial yearnet -€23,678
Net result drops to -€23,678, the lowest in the series; recovery starts the following year.
10-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 102 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
07-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 342 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Mechelen · 1 establishment unit since 1991
Ground area
163 m²
Building footprint
163 m²
Volume, LiDAR
888 m³
Parcel 12403D0283/00M000, Flanders · tallest building 14.3 m, ±1 floor. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
GARCO
since 19912.052.429.631
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12403D0283/00M000 | Flanders | 163 m² | 1 · 163 m² | 14.3 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPublic limited company
Founded02-01-1991
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0442907146
Also
9925:BE0442907146
Registered
12-12-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.