GARMAR
ActiveSummary
GARMAR has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-246k) and a net result of €-59k. Equity is shrinking by ~45% per year across the filed fiscal years. Its solvency ranks better than 8% of 7453 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
23
/ 100
Critical
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability12▼-2
Solvency1▼-7
Growth58=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.06 against 0.06 in 2024; short-term debt: 118.7% and cash: 0.3% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-23.5%
Return on assets
-5.7%
Age of the figures
15 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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-246k
raises risk · Filed more than 90 days late
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 03-09-2026, 215 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
215 d late
2024
580 d late
2023
on the day
2022
13 d late
2021
15 d late
2020
15 d late
2019
18 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-59k▼ 31.7%
2024 · €-45k
2019: €-98k
2020: €-89k
2021: €-119k
2022: €-55k
2023: €-39k
2024: €-45k
2019 → 2025
Working capital
€-1.17M▼ 1.1%
2024 · €-1.16M
2019: €-270k
2020: €-332k
2021: €-489k
2022: €-1.06M
2023: €-1.11M
2024: €-1.16M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-47k-€-102k▼ 116%€-141k▼ 38.1%€-186k▼ 32.0%€-246k▼ 31.9%
Operating result€-98k-€-46k▲ 53.7%€-38k▲ 16.4%€-44k▼ 15.8%€-59k▼ 33.2%
Net result€-119k-€-55k▲ 53.9%€-39k▲ 28.9%€-45k▼ 15.8%€-59k▼ 31.7%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €59k in 2025 against €44k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.04M
Fixed assets
€975k ▼ 4.5%
Current assets
€69k ▼ 12.2%
Key figures and ratios
EBITDA
€-9k▼
2024 · €-3k
Cash flow
€-9k▼
2024 · €-4k
Solvency
-23.5%▼
2024 · -16.9%
Current ratio
0.06▼
2024 · 0.06
Quick ratio
0.04▼
2024 · 0.05
Debt to equity
-5.25▲
2024 · -6.91
ROA
-5.7%▼
2024 · -4.1%
Interest coverage
-46.29▼
2024 · -4.89
Debt
€1.29M▲
2024 · €1.29M
Debt ≤ 1 year
€1.24M▲
2024 · €1.24M
Debt > 1 year
€50k=
2024 · €50k
Income taxes
€488▲
2024 · €425
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 · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.10M€1.04M▼
Fixed assets21/28€1.02M€975k▼
Tangible fixed assets22/27€1.02M€975k▼
Land and buildings22€588k€557k▼
Furniture and vehicles24€43k€37k▼
Other tangible fixed assets26€390k€381k▼
Financial fixed assets28€115€115=
Current assets29/58€79k€69k▼
Stocks and contracts in progress3€20k€20k=
Stocks30/36€20k€20k=
Amounts receivable within one year40/41€59k€46k▼
Trade receivables40€57k€46k▼
Other amounts receivable41€2k€630▼
Cash at bank and in hand54/58€276€3k▲
Equity and liabilities
Total equity and liabilities10/49€1.10M€1.04M▼
Equity10/15€-186k€-246k▼
Contributions10/11€368k€368k=
Reserves13€68k€68k=
Non-distributable reserves130/1€68k€68k=
Reserves not available under the articles1311€68k€68k=
Profit (loss) carried forward14€-622k€-681k▼
Amounts payable17/49€1.29M€1.29M▲
Amounts payable after more than one year17€50k€50k=
Other amounts payable178/9€50k€50k=
Amounts payable within one year42/48€1.24M€1.24M▲
Trade debts44€4k€10k▲
Suppliers440/4€4k€10k▲
Taxes, remuneration and social security45€1k€2k▲
Taxes450/3€1k€2k▲
Other amounts payable47/48€1.23M€1.23M▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€41k€50k▲
Other operating charges640/8€12k€25k▲
Gross operating margin9900€9k€16k▲
Operating profit (loss)9901€-44k€-59k▼
Financial income75/76B-€0
Recurring financial income75-€0
Financial charges65/66B€574€190▼
Recurring financial charges65€574€190▼
Profit (loss) for the period before taxes9903€-45k€-59k▼
Income taxes67/77€425€488▲
Profit (loss) for the period9904€-45k€-59k▼
Profit (loss) for the period to be appropriated9905€-45k€-59k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-622k€-681k▼
Profit (loss) brought forward from the previous period14P€-577k€-622k▼
The notes to these accounts (11 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
03-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 215 days late
03-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 580 days late
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
13-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 13 days late
2022
15-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 15 days late
2021
30-06
Financial
Weakest financial yearnet €-119k
Net result drops to €-119k, the lowest in the series; recovery starts the following year.
15-02
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 15 days late
2020
18-02
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 18 days late
2019
19-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 19 days late
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2017
27-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Namur · 1 establishment unit since 2007
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.
Rue Pierre du Diable(JB) 55100 NamurGround area
1,815 m²
Building footprint
176 m²
Parcel 92322E0056/00A000, Wallonia. Linked by address, not a title deed.
1 establishment unit
GARMAR
since 20072.162.968.257
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92322E0056/00A000indicative | Wallonia | 1,815 m² | 1 · 176 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Renovatie- & Bouwwerken Dekkers
BE 0802.968.077
Rijkevorsel · Eq €71,502
C.B. COMPANY
BE 0431.969.506
Manhay · Eq €71,529
URBAN CONSTRUCT
BE 0826.986.168
Sint-Lambrechts-Woluwe · Eq €71,480
BOUWWERKEN BYNENS
BE 0887.849.116
Bilzen-Hoeselt · Eq €71,550
TK BUILDING
BE 0758.748.747
Ravels · Eq €71,475
Of 29,797 companies in sector 41001 we hold annual accounts for 16,049. 13,251 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded22-05-2007
Fiscal year end30-06
Activities, NACEBEL 2025
41001General construction of residential buildings
68203Renting and operating of own or leased non-residential real estate, excluding land
68122Development of non-residential building projects
43990Other specialised construction activities
71121Engineering and related technical consultancy, excluding land surveyors
77120Rental and leasing activities
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryPhone:081/30.73.42