GARTHUS
ActiveGARTHUS has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €58k and a net result of €45k. Equity is growing by ~28.8% per year across the filed fiscal years. Its solvency ranks better than 27% of 31616 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
77
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability93▲+4
Solvency50=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity ample (current ratio 1.66 against 1.88 in 2024; short-term debt: 17.1% and cash: 19.1% of total assets), but 75% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
25%
Return on assets
19.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
28 d late
2024
27 d late
2023
50 d late
2022
30 d late
2021
29 d late
2020
221 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€58k▲ 3.4%
2024 · €57k
2020: €-1k
2021: €12k
2022: €36k
2023: €57k
2024: €57k
2020 → 2025
Total assets
€233k▲ 2.6%
2024 · €227k
2020: €207k
2021: €228k
2022: €244k
2023: €234k
2024: €227k
2020 → 2025
Net result
€45k▲ 18.6%
2024 · €38k
2020: €-3k
2021: €13k
2022: €24k
2023: €20k
2024: €38k
2020 → 2025
Working capital
€26k▲ 7.4%
2024 · €24k
2020: €-8k
2021: €-4k
2022: €12k
2023: €25k
2024: €24k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€12k-€36k▲ 198%€57k▲ 54.9%€57k=€58k▲ 3.4%
Operating result€22k-€35k▲ 56.4%€31k▼ 12.8%€53k▲ 71.5%€61k▲ 16.8%
Net result€13k-€24k▲ 81.4%€20k▼ 17.5%€38k▲ 87.5%€45k▲ 18.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 17% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €233k
Fixed assets
€167k▼ 4.7%
Current assets
€66k▲ 27.0%
Equity and liabilities €233k
Equity
€58k▲ 3.4%
Debt
€175k▲ 2.3%
The debt ratio falls from 75.2% to 75.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€70k▲
2024 · €61k
Cash flow
€53k▲
2024 · €46k
Solvency
25.0%▲
2024 · 24.8%
Current ratio
1.66▼
2024 · 1.88
Quick ratio
1.66▼
2024 · 1.88
Debt / equity
2.99▼
2024 · 3.03
ROE
76.2%▲
2024 · 66.4%
ROA
19.1%▲
2024 · 16.5%
Interest coverage
22.17▲
2024 · 17.35
Debt
€175k▲
2024 · €171k
Debt ≤ 1 year
€40k▲
2024 · €28k
Debt > 1 year
€135k▼
2024 · €143k
Income taxes
€14k▲
2024 · €11k
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€227k€233k▲
Fixed assets21/28€175k€167k▼
Tangible fixed assets22/27€175k€167k▼
Land and buildings22€174k€167k▼
Furniture and vehicles24€1k€627▼
Current assets29/58€52k€66k▲
Amounts receivable within one year40/41€24k€18k▼
Trade receivables40€16k€18k▲
Other amounts receivable41€8k-
Current investments50/53-€3k
Cash at bank and in hand54/58€27k€45k▲
Deferred charges and accrued income490/1€330€377▲
Equity and liabilities
Total equity and liabilities10/49€227k€233k▲
Equity10/15€57k€58k▲
Contributions10/11€2k€2k=
Outside capital11€2k-
Other1109/19€2k-
Profit (loss) carried forward14€55k€56k▲
Amounts payable17/49€171k€175k▲
Amounts payable after more than one year17€143k€135k▼
Financial debts170/4€143k€135k▼
Amounts payable within one year42/48€28k€40k▲
Current portion of amounts payable after more than one year42€8k€8k▲
Trade debts44€2k€797▼
Suppliers440/4€2k€797▼
Taxes, remuneration and social security45€17k€31k▲
Taxes450/3€17k€29k▲
Remuneration and social security454/9-€2k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k▼
Other operating charges640/8€370€868▲
Gross operating margin9900€61k€70k▲
Operating profit (loss)9901€53k€61k▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€49k€58k▲
Income taxes67/77€11k€14k▲
Profit (loss) for the period9904€38k€45k▲
Profit (loss) for the period to be appropriated9905€38k€45k▲
Appropriation of the result
Profit (loss) to be appropriated9906€92k€99k▲
Profit (loss) brought forward from the previous period14P€55k€55k=
Profit to be distributed694/7€38k€43k▲
Return on contributions (dividend)694€38k€43k▲
The notes to these accounts (7 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Highest result since 2020net €45k ▲18.6%
Operating result €61k, net result €45k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
19-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 50 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
09-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 221 days late
2021
31-12
Financial
Back to profitnet €13k
Net result €13k after one loss-making year.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Waterloo · 1 establishment unit since 2020
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.
Avenue des Quatre Saisons 141410 WaterlooGround area
1,094 m²
Building footprint
231 m²
Volume, LiDAR
1,698 m³
2 parcels, Flanders, Wallonia · tallest building 11.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
GARTHUS
since 20202.300.471.004
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25110B0431/00G002 | Wallonia | 728 m² | 1 · 174 m² | 8.4 m · 2 fl. |
| 22004B0079/00T005 | Flanders | 366 m² | 1 · 56 m² | 11.7 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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SCRIPTALIS
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Of 82,554 companies in sector 70200 we hold annual accounts for 52,573. 38,882 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded06-03-2020
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.