GARDEC-V.J.
ActiveGARDEC-V.J. has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.09M and a net result of €282k. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 15% of 149 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
55
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability62▲+10
Solvency38=
Growth62▲+21
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 1.91 against 1.61 in 2024; short-term debt: 46.2% and cash: 1.8% of total assets), but 86.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 33
Relative position
BE, all sectors
reference
Sector 33
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
13.4%
Return on assets
3.5%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 149 sector peers (2025).
NBB · sector comparisonPosition among 149 sector peers
Solvency
better than 15%
← 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 22-01-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
4 d late
2023
161 d late
2022
on the day
2021
3 d early
2020
2 d early
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close22-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€17.46M▲ 35.9%
2024 · €12.85M
2019: €9.05M
2020: €9.64M
2021: €7.53M
2022: €9.67M
2023: €13.88M
2024: €12.85M
2019 → 2025
EBIT margin
3.2%▲ 0.6pp
2024 · 2.5%
2019: 2.7%
2020: 0.5%
2021: 1.1%
2022: 2.4%
2023: 2.0%
2024: 2.5%
2019 → 2025
Net result
€282k▲ 120%
2024 · €128k
2019: €144k
2020: €2k
2021: €29k
2022: €127k
2023: €136k
2024: €128k
2019 → 2025
Working capital
€3.42M▲ 24.6%
2024 · €2.74M
2019: €854k
2020: €639k
2021: €677k
2022: €1.31M
2023: €3.18M
2024: €2.74M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€7.53M-€9.67M▲ 28.4%€13.88M▲ 43.5%€12.85M▼ 7.4%€17.46M▲ 35.9%
Equity€1.01M-€1.03M▲ 1.9%€1.06M▲ 2.7%€1.08M▲ 1.9%€1.09M▲ 1.1%
Operating result€86k-€234k▲ 174%€272k▲ 15.9%€327k▲ 20.2%€552k▲ 68.8%
Net result€29k-€127k▲ 335%€136k▲ 6.8%€128k▼ 5.9%€282k▲ 120%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 69% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.17M
Fixed assets
€979k▼ 9.4%
Current assets
€7.19M▼ 0.4%
Equity and liabilities €8.17M
Equity
€1.09M▲ 1.1%
Debt
€7.08M▼ 1.9%
The debt ratio falls from 87.0% to 86.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€916k▲
2024 · €547k
Cash flow
€646k▲
2024 · €348k
Solvency
13.4%▲
2024 · 13.0%
Current ratio
1.91▲
2024 · 1.61
Quick ratio
1.69▲
2024 · 0.92
Debt / equity
6.48▼
2024 · 6.68
ROE
25.8%▲
2024 · 11.9%
ROA
3.5%▲
2024 · 1.5%
Interest coverage
7.09▲
2024 · 4.70
Debt
€7.08M▼
2024 · €7.21M
Debt ≤ 1 year
€3.77M▼
2024 · €4.47M
Debt > 1 year
€3.30M▲
2024 · €2.74M
Income taxes
€129k▲
2024 · €66k
Staff costs
€4.93M▲
2024 · €4.53M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€8.29M€8.17M▼
Fixed assets21/28€1.08M€979k▼
Tangible fixed assets22/27€1.06M€957k▼
Plant, machinery and equipment23€222k€309k▲
Furniture and vehicles24€496k€353k▼
Leasing and similar rights25€313k€280k▼
Other tangible fixed assets26€28k€15k▼
Financial fixed assets28€21k€22k▲
Other financial fixed assets284/8€21k€22k▲
Amounts receivable and cash guarantees285/8€21k€22k▲
Current assets29/58€7.21M€7.19M▼
Stocks and contracts in progress3€3.09M€819k▼
Stocks30/36€415k€319k▼
Goods purchased for resale34€415k€319k▼
Contracts in progress37€2.67M€500k▼
Amounts receivable within one year40/41€3.99M€6.12M▲
Trade receivables40€3.30M€5.94M▲
Other amounts receivable41€689k€184k▼
Cash at bank and in hand54/58€131k€149k▲
Deferred charges and accrued income490/1€9k€98k▲
Equity and liabilities
Total equity and liabilities10/49€8.29M€8.17M▼
Equity10/15€1.08M€1.09M▲
Contributions10/11€150k€150k=
Capital10€150k€150k=
Issued capital100€150k€150k=
Reserves13€930k€943k▲
Non-distributable reserves130/1€15k€15k=
Legal reserve130€15k€15k=
Distributable reserves133€915k€928k▲
Amounts payable17/49€7.21M€7.08M▼
Amounts payable after more than one year17€2.74M€3.30M▲
Financial debts170/4€338k€3.30M▲
Leasing and similar obligations172€215k€195k▼
Credit institutions173€122k€110k▼
Other loans174-€3.00M
Other amounts payable178/9€2.40M€0▼
Amounts payable within one year42/48€4.47M€3.77M▼
Current portion of amounts payable after more than one year42€124k€115k▼
Financial debts43€1.12M€1.13M▲
Credit institutions430/8€1.12M€1.13M▲
Trade debts44€2.25M€1.51M▼
Suppliers440/4€2.25M€1.51M▼
Advances received on contracts in progress46-€2k
Taxes, remuneration and social security45€869k€740k▼
Taxes450/3€83k€212k▲
Remuneration and social security454/9€786k€527k▼
Other amounts payable47/48€108k€270k▲
Accrued charges and deferred income492/3€5k€0▼
Income statement
Code20242025
Operating income70/76A€13.46M€15.39M▲
Turnover70€12.85M€17.46M▲
Change in stocks of work in progress, finished goods and contracts in progress71€531k€-2.17M▼
Other operating income74€82k€102k▲
Non-recurring operating income76A€0€4k▲
Operating charges60/66A€13.14M€14.84M▲
Goods for resale, raw materials and consumables60€5.74M€6.54M▲
Purchases600/8€5.69M€6.45M▲
Change in stocks: decrease (increase)609€52k€96k▲
Services and other goods61€2.44M€2.59M▲
Remuneration, social security and pensions62€4.53M€4.93M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€220k€364k▲
Other operating charges640/8€26k€34k▲
Non-recurring operating charges66A€184k€375k▲
Operating profit (loss)9901€327k€552k▲
Financial income75/76B-€15
Recurring financial income75-€15
Other financial income752/9-€15
Financial charges65/66B€133k€141k▲
Recurring financial charges65€133k€141k▲
Debt charges650€116k€129k▲
Other financial charges652/9€17k€12k▼
Profit (loss) for the period before taxes9903€194k€411k▲
Income taxes67/77€66k€129k▲
Taxes670/3€66k€129k▲
Profit (loss) for the period9904€128k€282k▲
Profit (loss) for the period to be appropriated9905€128k€282k▲
Appropriation of the result
Profit (loss) to be appropriated9906€128k€282k▲
Transfer to equity691/2€20k€12k▼
To other reserves6921€20k€12k▼
Profit to be distributed694/7€108k€270k▲
Return on contributions (dividend)694€108k€270k▲
Social balance
Average headcount (FTE)908743.045.7▲
The notes to these accounts (79 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
22-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
Financial
Highest result since 2019net €282k ▲120%
Operating result €552k, net result €282k, both a record.
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 4 days late
2024
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 161 days late
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
28-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-06
Financial
Weakest financial yearnet €2k ▼98.8%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
30-01
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-01
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2024
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
19-11-2024
Ellen D’hoedt: Resigned as Director
19-11-2024
H.NCD BEHEER: Resigned as Director
19-11-2024
SEASITE: Resigned as Director
29-02-2024
Dirk Verscheure: Resigned as Director
16-02-2023
Ellen D’hoedt: Resigned as Director
16-02-2023
H.NCD BEHEER: Resigned as Director
16-02-2023
H.NCD BEHEER: Resigned as Managing director
16-02-2023
SEASITE: Resigned as Director
16-02-2023
Dirk Verscheure: Resigned as Director
04-07-2014
H.NCD: Resigned as Director
13-04-2011
Dieter D'hoedt: Resigned as Director
Location & real-estate footprint
Registered office, Brugge · 3 establishment units since 1986
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Boomkorstraat 88380 BruggeGround area
4.2 ha
Building footprint
5,446 m²
Volume, LiDAR
51,492 m³
3 parcels, Flanders · tallest building 13.5 m, ±4 floors. Linked by address, not a title deed.
3 establishment units
GARDEC vj
since 19862.028.648.694
Groenlandstraat 99, 8380 Brugge
since 20162.253.367.408
Kiwiweg 90, 8380 Brugge
since 20162.253.367.804
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31812P0542/00E000 | Flanders | 2.8 ha | 1 · 3,831 m² | 13.5 m · 4 fl. |
| 31812P0361/00V004 | Flanders | 1.3 ha | 1 · 1,173 m² | 6.2 m · 2 fl. |
| 31812P0361/00R002 | Flanders | 783 m² | 1 · 442 m² | 8.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 9 entries · 64,869 EUR awarded · 66,904 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 14,313 EUR | 14,313 EUR |
| 2024 | 2 | 17,036 EUR | 18,258 EUR |
| 2023 | 2 | 14,618 EUR | 15,753 EUR |
| 2022 | 2 | 18,902 EUR | 18,580 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
Recognitions · licences · registrations
Dual-learning approval
2 live approvals · 5 endedLasser-monteerder (vwo)
Lasser-monteerder duaal (so)
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Of 298 companies in sector 33150 we hold annual accounts for 159. 98 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-12-1985
Fiscal year end30-06
Activities, NACEBEL
33150Repair, maintenance and installation of machinery and equipment
35110Production of electricity from non-renewable sources
49410Freight transport by road
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.