GARKA
ActiveSummary
GARKA has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.34M and a net result of €862k. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 54% of 9040 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+6
Solvency72▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity ample (current ratio 1.81 against 1.79 in 2023; short-term debt: 52.6% and cash: 53.1% of total assets), but 52.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← 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 2024Solvency, return and age of the figures
Solvency
47.4%
Return on assets
30.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
57 d late
2022
31 d early
2021
57 d late
2020
24 d late
2019
49 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€1.34M▲ 1.7%
2023 · €1.32M
2018: €790klowest in 7 years
2019: €1.08M▲ +36.3% vs 2018
2020: €1.35M▲ +25.0% vs 2019highest in 7 years
2021: €1.18M▼ -12.1% vs 2020
2022: €1.26M▲ +6.6% vs 2021
2023: €1.32M▲ +4.8% vs 2022
2024: €1.34M▲ +1.7% vs 2023
2018 → 2024
Total assets
€2.83M▲ 2.7%
2023 · €2.76M
2018: €1.97Mlowest in 7 years
2019: €2.00M▲ +1.6% vs 2018
2020: €2.12M▲ +5.8% vs 2019
2021: €2.57M▲ +21.3% vs 2020
2022: €2.99M▲ +16.4% vs 2021highest in 7 years
2023: €2.76M▼ -7.6% vs 2022
2024: €2.83M▲ +2.7% vs 2023
2018 → 2024
Net result
€862k▲ 53.8%
2023 · €560k
2018: €404k
2019: €387k▼ -4.2% vs 2018
2020: €270k▼ -30.3% vs 2019lowest in 7 years
2021: €562k▲ +108% vs 2020
2022: €628k▲ +11.8% vs 2021
2023: €560k▼ -10.8% vs 2022
2024: €862k▲ +53.8% vs 2023highest in 7 years
2018 → 2024
Working capital
€1.21M▲ 7.1%
2023 · €1.13M
2018: €680klowest in 7 years
2019: €1.01M▲ +47.9% vs 2018
2020: €1.31M▲ +30.3% vs 2019highest in 7 years
2021: €1.19M▼ -9.6% vs 2020
2022: €1.09M▼ -8.1% vs 2021
2023: €1.13M▲ +3.8% vs 2022
2024: €1.21M▲ +7.1% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.35M-€1.18M▼ 12.1%€1.26M▲ 6.6%€1.32M▲ 4.8%€1.34M▲ 1.7%
2020: €1.35Mhighest in 5 years
2021: €1.18M▼ -12.1% vs 2020lowest in 5 years
2022: €1.26M▲ +6.6% vs 2021
2023: €1.32M▲ +4.8% vs 2022
2024: €1.34M▲ +1.7% vs 2023
Operating result€412k-€605k▲ 46.8%€666k▲ 10.1%€598k▼ 10.2%€882k▲ 47.5%
2020: €412klowest in 5 years
2021: €605k▲ +46.8% vs 2020
2022: €666k▲ +10.1% vs 2021
2023: €598k▼ -10.2% vs 2022
2024: €882k▲ +47.5% vs 2023highest in 5 years
Net result€270k-€562k▲ 108%€628k▲ 11.8%€560k▼ 10.8%€862k▲ 53.8%
2020: €270klowest in 5 years
2021: €562k▲ +108% vs 2020
2022: €628k▲ +11.8% vs 2021
2023: €560k▼ -10.8% vs 2022
2024: €862k▲ +53.8% vs 2023highest in 5 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 48% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.83M
Fixed assets
€132k ▼ 30.8%
Current assets
€2.70M ▲ 5.2%
Equity and liabilities €2.83M
Equity
€1.34M ▲ 1.7%
Debt
€1.49M ▲ 3.7%
Debt's share of the balance-sheet total rises from 52.1% to 52.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€971k▲
2023 · €676k
Cash flow
€951k▲
2023 · €638k
Current ratio
1.81▲
2023 · 1.79
Quick ratio
1.63▲
2023 · 1.62
Debt to equity
1.11▲
2023 · 1.09
ROE
64.1%▲
2023 · 42.4%
ROA
30.4%▲
2023 · 20.3%
Interest coverage
45.13▲
2023 · 30.95
Debt ≤ 1 year
€1.49M▲
2023 · €1.44M
Income taxes
€13k▼
2023 · €27k
Staff costs
€276k▼
2023 · €307k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 55 lines
Balance sheet
Code20232024
Assets
Total assets20/58€2.76M€2.83M▲
Fixed assets21/28€191k€132k▼
Tangible fixed assets22/27€191k€132k▼
Plant, machinery and equipment23€181k€125k▼
Furniture and vehicles24€10k€7k▼
Financial fixed assets28€50€50=
Current assets29/58€2.57M€2.70M▲
Stocks and contracts in progress3€236k€274k▲
Stocks30/36€236k€274k▲
Amounts receivable within one year40/41€1.06M€843k▼
Trade receivables40€935k€830k▼
Other amounts receivable41€124k€13k▼
Current investments50/53€80k€80k=
Cash at bank and in hand54/58€1.19M€1.51M▲
Equity and liabilities
Total equity and liabilities10/49€2.76M€2.83M▲
Equity10/15€1.32M€1.34M▲
Contributions10/11€19k€19k=
Reserves13€1.30M€1.32M▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€20k€20k=
Distributable reserves133€1.28M€1.30M▲
Profit (loss) carried forward14€2k€4k▲
Amounts payable17/49€1.44M€1.49M▲
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€1.44M€1.49M▲
Current portion of amounts payable after more than one year42€5k€0▼
Trade debts44€858k€612k▼
Suppliers440/4€858k€612k▼
Taxes, remuneration and social security45€74k€38k▼
Taxes450/3€27k€2k▼
Remuneration and social security454/9€47k€37k▼
Other amounts payable47/48€500k€840k▲
Income statement
Code20232024
Remuneration, social security and pensions62€307k€276k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€78k€89k▲
Other operating charges640/8€8k€4k▼
Gross operating margin9900€991k€1.25M▲
Operating profit (loss)9901€598k€882k▲
Financial income75/76B€12k€15k▲
Recurring financial income75€12k€15k▲
Financial charges65/66B€22k€22k▼
Recurring financial charges65€22k€22k▼
Profit (loss) for the period before taxes9903€588k€875k▲
Income taxes67/77€27k€13k▼
Profit (loss) for the period9904€560k€862k▲
Transfer from tax-exempt reserves789€0-
Profit (loss) for the period to be appropriated9905€560k€862k▲
Appropriation of the result
Profit (loss) to be appropriated9906€562k€864k▲
Profit (loss) brought forward from the previous period14P€2k€2k▲
Transfer to equity691/2€60k€20k▼
To other reserves6921€60k€20k▼
Profit to be distributed694/7€500k€840k▲
Directors or managers695€500k€840k▲
Social balance
Average headcount (FTE)90875.54.3▼
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €5k | €0 | - | - | - |
| Remuneration, social security and pensions62 | - | €284k | €216k | €307k | €276k | ▼ 10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €87k | €57k | €51k | €78k | €89k | ▲ 13.8% |
| Other operating charges640/8 | - | €5k | €6k | €8k | €4k | ▼ 54.8% |
| Non-recurring operating charges66A | - | €0 | - | - | - | - |
| Gross operating margin9900 | €766k | €951k | €938k | €991k | €1.25M | ▲ 26.2% |
| Operating profit (loss)9901 | €412k | €605k | €666k | €598k | €882k | ▲ 47.5% |
| Financial income75/76B | - | €13k | €8k | €12k | €15k | ▲ 25.7% |
| Recurring financial income75 | €987 | €13k | €8k | €12k | €15k | ▲ 25.7% |
| Financial charges65/66B | - | €26k | €29k | €22k | €22k | ▼ 1.5% |
| Recurring financial charges65 | €17k | €26k | €29k | €22k | €22k | ▼ 1.5% |
| Profit (loss) for the period before taxes9903 | €396k | €592k | €645k | €588k | €875k | ▲ 48.9% |
| Income taxes67/77 | €126k | €30k | €17k | €27k | €13k | ▼ 51.7% |
| Profit (loss) for the period9904 | €270k | €562k | €628k | €560k | €862k | ▲ 53.8% |
| Transfer from tax-exempt reserves789 | - | €178k | €178k | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €287k | €740k | €806k | €560k | €862k | ▲ 53.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.12M | €2.57M | €2.99M | €2.76M | €2.83M | ▲ 2.7% |
| Fixed assets21/28 | €92k | €22k | €174k | €191k | €132k | ▼ 30.8% |
| Tangible fixed assets22/27 | €92k | €22k | €174k | €191k | €132k | ▼ 30.8% |
| Plant, machinery and equipment23 | - | €22k | €161k | €181k | €125k | ▼ 30.8% |
| Furniture and vehicles24 | - | €401 | €13k | €10k | €7k | ▼ 29.9% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €2.02M | €2.54M | €2.81M | €2.57M | €2.70M | ▲ 5.2% |
| Stocks and contracts in progress3 | €88k | €96k | €222k | €236k | €274k | ▲ 15.8% |
| Stocks30/36 | - | €96k | €222k | €236k | €274k | ▲ 15.8% |
| Amounts receivable within one year40/41 | €766k | €1.22M | €1.44M | €1.06M | €843k | ▼ 20.4% |
| Trade receivables40 | - | €725k | €1.02M | €935k | €830k | ▼ 11.2% |
| Other amounts receivable41 | - | €499k | €423k | €124k | €13k | ▼ 89.3% |
| Current investments50/53 | €80k | €80k | €80k | €80k | €80k | = |
| Cash at bank and in hand54/58 | €1.09M | €1.14M | €1.07M | €1.19M | €1.51M | ▲ 26.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.12M | €2.57M | €2.99M | €2.76M | €2.83M | ▲ 2.7% |
| Equity10/15 | €1.35M | €1.18M | €1.26M | €1.32M | €1.34M | ▲ 1.7% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €1.33M | €1.16M | €1.24M | €1.30M | €1.32M | ▲ 1.5% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Tax-exempt reserves132 | - | €198k | €20k | €20k | €20k | = |
| Distributable reserves133 | - | €960k | €1.22M | €1.28M | €1.30M | ▲ 1.6% |
| Profit (loss) carried forward14 | €661 | €5k | €2k | €2k | €4k | ▲ 106% |
| Amounts payable17/49 | €769k | €1.38M | €1.72M | €1.44M | €1.49M | ▲ 3.7% |
| Amounts payable after more than one year17 | €56k | €24k | €2k | €0 | - | - |
| Financial debts170/4 | - | €24k | €2k | €0 | - | - |
| Amounts payable within one year42/48 | €713k | €1.36M | €1.72M | €1.44M | €1.49M | ▲ 3.7% |
| Current portion of amounts payable after more than one year42 | - | €31k | €24k | €5k | €0 | ▼ 100% |
| Financial debts43 | - | €100k | €0 | - | - | - |
| Credit institutions430/8 | - | €100k | €0 | - | - | - |
| Trade debts44 | €452k | €466k | €1.11M | €858k | €612k | ▼ 28.6% |
| Suppliers440/4 | - | €466k | €1.11M | €858k | €612k | ▼ 28.6% |
| Taxes, remuneration and social security45 | - | €37k | €43k | €74k | €38k | ▼ 48.5% |
| Taxes450/3 | - | €0 | €17k | €27k | €2k | ▼ 93.7% |
| Remuneration and social security454/9 | - | €37k | €26k | €47k | €37k | ▼ 22.4% |
| Other amounts payable47/48 | - | €725k | €550k | €500k | €840k | ▲ 68.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €270k | €562k | €628k | €560k | €862k | ▲ 53.8% |
| + Depreciation and write-downs630 | €87k | €57k | €51k | €78k | €89k | ▲ 13.8% |
| Operating cash flow (approximation) | €357k | €619k | €679k | €638k | €951k | ▲ 49.0% |
| Investment in fixed assets (approximation) | - | €13k | €-203k | €-95k | €-30k | ▲ 68.4% |
| Change in cash | - | €55k | €-72k | €122k | €312k | ▲ 157% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €862k ▲53.8%
Operating result €882k, net result €862k, both a record.
26-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 57 days late
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
26-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 57 days late
2021
24-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 24 days late
2020
31-12
Financial
Weakest financial yearnet €270k ▼30.3%
Net result drops to €270k, the lowest in the series; recovery starts the following year.
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 49 days late
2019
31-12
Financial
Equity above €1MEq €1.08M ▲36.3%
2 profitable years in a row build equity to €1.08M.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 27 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 59 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Ninove · 1 establishment unit since 1993
Ground area
4,449 m²
Building footprint
1,973 m²
Volume, LiDAR
8,462 m³
Parcel 41362B0315/00N000, Flanders · tallest building 6.0 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Garka
since 19932.063.180.201
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41362B0315/00N000 | Flanders | 4,449 m² | 1 · 1,973 m² | 6.0 m · 2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteNinove2.063.180.201
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Of 1,423 companies in sector 46389 we hold annual accounts for 853. 426 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
Founded09-07-1991
Fiscal year end31-12
Activities, NACEBEL 2025
10890Manufacture of food products
46389Wholesale of other food products
Scores and ratios are computed by Checked and are not a credit decision.