GARS
ActiveFrom the official registers: KBO 2 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
GARS has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19,320 and a net result of -€2,373. The computed 12-month bankruptcy probability is 1.0% (low).
Financials · financial year 2025, micro format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00497791.
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 28-08-2026
- Format
- micro format
- Reference
- 2026-00497791
2024 to 2025, 2 financial years
The operating result for 2025 is a loss of €2,150, smaller than the loss of €3,056 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.
Use the arrow keys on the chart for the figures per year.
Companies with the same profile, two years later
Historical observationIn July 2024, 3,223 companies had the same profile as GARS has now. Two years later, 3.4% had gone bankrupt and 87.8% were still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GARS itself: 1.0% within 12 months.
Test of the method
The method was tested on the 497,445 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 3,223 companies, not a prediction for GARS. 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 | 2024 | 2025 | Change |
|---|---|---|---|
| Other operating charges640/8 | €1,308 | €462 | ▼ 64.7% |
| Gross operating margin9900 | -€1,749 | -€1,688 | ▲ 3.4% |
| Operating profit (loss)9901 | -€3,056 | -€2,150 | ▲ 29.7% |
| Financial charges65/66B | €251 | €223 | ▼ 11.2% |
| Recurring financial charges65 | €251 | €223 | ▼ 11.2% |
| Profit (loss) for the period before taxes9903 | -€3,307 | -€2,373 | ▲ 28.3% |
| Profit (loss) for the period9904 | -€3,307 | -€2,373 | ▲ 28.3% |
| Profit (loss) for the period to be appropriated9905 | -€3,307 | -€2,373 | ▲ 28.3% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €21,693 | €19,942 | ▼ 8.1% |
| Current assets29/58 | €21,693 | €19,942 | ▼ 8.1% |
| Cash at bank and in hand54/58 | €21,693 | €19,942 | ▼ 8.1% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €21,693 | €19,942 | ▼ 8.1% |
| Equity10/15 | €21,693 | €19,320 | ▼ 10.9% |
| Contributions10/11 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | -€3,307 | -€5,680 | ▼ 71.7% |
| Amounts payable17/49 | - | €622 | - |
| Amounts payable within one year42/48 | - | €622 | - |
| Other amounts payable47/48 | - | €622 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€3,307 | -€2,373 | ▲ 28.3% |
| Operating cash flow (approximation) | -€3,307 | -€2,373 | ▲ 28.3% |
| Change in cash | - | -€1,751 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.