GATES DISTRIBUTION CENTER
ActiveSummary
GATES DISTRIBUTION CENTER has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €77k and a net result of €404k. Equity is shrinking by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 11% of 925 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
59
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability68▲+6
Solvency27▼-10
Growth54▼-11
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity short (current ratio 0.79 against 1.08 in 2024; short-term debt: 94.5% and cash: 25.4% of total assets), and 98.2% of the assets are financed with debt.
Credit check 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 82
Relative position
BE, all sectors
reference
Sector 82
lower
← fewer bankruptcies
more bankruptcies →
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
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
1.8%
Return on assets
9.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 925 sector peers (2025).
NBB · sector comparisonPosition among 925 sector peers
Solvency
better than 11%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
57 d late
2023
58 d late
2022
102 d late
2021
467 d late
2020
822 d late
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€13.67M▲ 13.3%
2024 · €12.06M
2018: €10.48M
2019: €10.84M
2023: €11.18M
2024: €12.06M
2018 → 2025
EBIT margin
4.6%▲ 1.0pp
2024 · 3.6%
2018: 5.0%
2019: 4.9%
2023: 1.9%
2024: 3.6%
2018 → 2025
Net result
€404k▼ 7.3%
2024 · €436k
2018: €342k
2019: €340k
2023: €239k
2024: €436k
2018 → 2025
Working capital
€-842k
2024 · €817k
2018: €369k
2019: €837k
2023: €8.52M
2024: €817k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202320242025Trend
Turnover€10.48M-€10.84M▲ 3.5%€11.18M▲ 3.1%€12.06M▲ 7.9%€13.67M▲ 13.3%
Equity€1.21M-€1.55M▲ 28.0%€8.94M▲ 475%€1.37M▼ 84.6%€77k▼ 94.4%
Operating result€523k-€528k▲ 0.9%€214k▼ 59.4%€436k▲ 104%€630k▲ 44.4%
Net result€342k-€340k▼ 0.7%€239k▼ 29.7%€436k▲ 82.4%€404k▼ 7.3%
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 44% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.23M
Fixed assets
€1.07M ▲ 57.4%
Current assets
€3.15M ▼ 71.9%
Equity and liabilities €4.23M
Equity
€77k ▼ 94.4%
Debt
€4.15M ▼ 60.6%
Debt's share of the balance-sheet total rises from 88.5% to 98.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€791k▲
2024 · €584k
Cash flow
€565k▼
2024 · €584k
Current ratio
0.79▼
2024 · 1.08
Debt to equity
53.97▲
2024 · 7.67
ROE
525.7%▲
2024 · 31.7%
ROA
9.6%▲
2024 · 3.7%
Interest coverage
106.36▼
2024 · 386.57
Debt ≤ 1 year
€3.99M▼
2024 · €10.41M
Income taxes
€246k▲
2024 · €143k
Staff costs
€7.95M▲
2024 · €6.58M
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 · 61 lines
Balance sheet
Code20242025
Assets
Total assets20/58€11.91M€4.23M▼
Fixed assets21/28€682k€1.07M▲
Intangible fixed assets21€101k€160k▲
Tangible fixed assets22/27€580k€913k▲
Land and buildings22€127k€290k▲
Plant, machinery and equipment23€146k€116k▼
Furniture and vehicles24€14k€11k▼
Assets under construction and advance payments27€292k€496k▲
Current assets29/58€11.23M€3.15M▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€10.44M€1.82M▼
Trade receivables40€3.02M€1.26M▼
Other amounts receivable41€7.42M€562k▼
Cash at bank and in hand54/58€471k€1.07M▲
Deferred charges and accrued income490/1€316k€259k▼
Equity and liabilities
Total equity and liabilities10/49€11.91M€4.23M▼
Equity10/15€1.37M€77k▼
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€1.30M€8k▼
Amounts payable17/49€10.53M€4.15M▼
Amounts payable within one year42/48€10.41M€3.99M▼
Trade debts44€1.12M€1.07M▼
Suppliers440/4€1.12M€1.07M▼
Taxes, remuneration and social security45€1.28M€1.22M▼
Taxes450/3€106k€0▼
Remuneration and social security454/9€1.18M€1.22M▲
Other amounts payable47/48€8.00M€1.70M▼
Accrued charges and deferred income492/3€126k€154k▲
Income statement
Code20242025
Operating income70/76A€12.16M€13.67M▲
Turnover70€12.06M€13.67M▲
Other operating income74€97k€0▼
Operating charges60/66A€11.73M€13.04M▲
Services and other goods61€4.96M€4.79M▼
Remuneration, social security and pensions62€6.58M€7.95M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€148k€161k▲
Other operating charges640/8€37k€150k▲
Non-recurring operating charges66A€3k€0▼
Operating profit (loss)9901€436k€630k▲
Financial income75/76B€144k€29k▼
Recurring financial income75€144k€29k▼
Income from current assets751€144k€29k▼
Financial charges65/66B€2k€10k▲
Recurring financial charges65€2k€10k▲
Debt charges650-€7k
Other financial charges652/9€2k€2k▲
Profit (loss) for the period before taxes9903€579k€650k▲
Income taxes67/77€143k€246k▲
Taxes670/3€143k€246k▲
Tax adjustments and reversals of tax provisions77€0-
Profit (loss) for the period9904€436k€404k▼
Profit (loss) for the period to be appropriated9905€436k€404k▼
Appropriation of the result
Profit (loss) to be appropriated9906€9.30M€1.71M▼
Profit (loss) brought forward from the previous period14P€8.87M€1.30M▼
Profit to be distributed694/7€8.00M€1.70M▼
Return on contributions (dividend)694€8.00M€1.70M▼
Social balance
Average headcount (FTE)9087110.8124.1▲
The notes to these accounts (57 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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 57 days late
2024
31-12
Financial
Highest result since 2018net €436k ▲82.4%
Net result €436k, the highest in the series.
27-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 58 days late
2023
31-12
Financial
Weakest financial yearnet €239k ▼29.7%
Net result drops to €239k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 4.49
Current ratio from 1.45 to 4.49.
31-12
Financial
Equity above €5MEq €8.94M ▲475%
3 profitable years in a row build equity to €8.94M.
10-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 102 days late
10-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 467 days late
31-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 822 days late
2020
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-06
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
18 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, Aalst · 2 establishment units since 1995
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.
Korte Keppestraat 219320 AalstGround area
6.7 ha
Building footprint
2.1 ha
Volume, LiDAR
273,689 m³
2 parcels, Flanders · tallest building 58.8 m, ±9 floors. Linked by address, not a title deed.
2 establishment units
Korte Keppestraat 21, 9320 Aalst
since 19952.071.530.416
GATES DISTRIBUTION CENTER I
since 19962.071.530.515
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44813A0527/00D000 | Flanders | 5.0 ha | 1 · 1.9 ha | 13.6 m · 4 fl. |
| 41342B0932/00D000 | Flanders | 1.7 ha | 1 · 2,128 m² | 58.8 m · 9 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 8 entries · 39,463 EUR awarded · 38,668 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | -1,609 EUR | 490 EUR |
| 2024 | 3 | 9,093 EUR | 6,199 EUR |
| 2023 | 2 | 22,285 EUR | 22,285 EUR |
| 2022 | 1 | 9,694 EUR | 9,694 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
Werkbaarheidscheque (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 304 companies in sector 82920 we hold annual accounts for 198. 108 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 formPublic limited company
Founded31-03-1995
Fiscal year end31-12
Activities, NACEBEL 2025
52100Warehousing and storage
82920Office administrative, office support and other business support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 29 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.