GAVEL
ActiveSummary
GAVEL has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €29.4m and a net result of €1.2m. Equity is growing by ~4% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability23▼-1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,900,000 at 30 days acceptable
Liquidity ample (current ratio 8.82 against 5.52 in 2024; short-term debt: 3.7% and cash: 3.9% of total assets), and 10.1% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
89.9%
Return on assets
3.6%
Age of the figures
12 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
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-03-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
34 d early
2023
8 d early
2022
41 d early
2021
38 d early
2020
29 d early
2019
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 31 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 26 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€29.4m▲ 4.2%
2024 · €28.2m
Total assets
€32.7m▼ 0.7%
2024 · €32.9m
Net result
€1.2m▼ 7.1%
2024 · €1.3m
Working capital
€9.4m▲ 6.8%
2024 · €8.8m
Trend over the years
In euros
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€30,002▲ 36.1%€4.2m▲ 14,010%€192,278▼ 95.5%-€119,105-€114,684▲ 3.7%
Net result€423,862▲ 4.3%€8.3m▲ 1,850%€1.4m▼ 83.0%€1.3m▼ 9.2%€1.2m▼ 7.1%
Equity€17.3m▼ 21.0%€25.5m▲ 47.9%€26.9m▲ 5.5%€28.2m▲ 4.7%€29.4m▲ 4.2%
Total assets€23.6m▲ 1.4%€30.7m▲ 30.1%€31.9m▲ 3.8%€32.9m▲ 3.3%€32.7m▼ 0.7%
Debt€6.4m▲ 341%€5.2m▼ 18.1%€4.9m▼ 4.9%€4.7m▼ 4.4%€3.3m▼ 30.0%
Working capital€1.3m▼ 15.6%€14.4m▲ 1,028%€15.7m▲ 8.6%€8.8m▼ 43.9%€9.4m▲ 6.8%
Staff (FTE)000
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €114,684 in 2025 against €119,105 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32.7m
Fixed assets
€22.1m ▼ 0.4%
Current assets
€10.6m ▼ 1.4%
Equity and liabilities €32.7m
Equity
€29.4m ▲ 4.2%
Debt
€3.3m ▼ 30.0%
Debt's share of the balance-sheet total falls from 14.4% to 10.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€37,845▲
2024 · -€43,804
Cash flow
€1.3m▼
2024 · €1.4m
Current ratio
8.82▲
2024 · 5.52
Debt to equity
0.11▼
2024 · 0.17
ROE
4.0%▼
2024 · 4.5%
ROA
3.6%▼
2024 · 3.9%
Interest coverage
-1.01▲
2024 · -1.28
Debt ≤ 1 year
€1.2m▼
2024 · €1.9m
Debt > 1 year
€2.1m▼
2024 · €2.8m
Income taxes
€0▼
2024 · €498
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €4.4m | €305,128 | €0 | €3,322 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,303 | €181,914 | €67,686 | €75,302 | €76,839 | ▲ 2.0% |
| Other operating charges640/8 | - | €26,135 | €36,921 | €31,957 | €30,849 | ▼ 3.5% |
| Gross operating margin9900 | €83,909 | €4.4m | €296,885 | -€11,846 | -€6,997 | ▲ 40.9% |
| Operating profit (loss)9901 | €30,002 | €4.2m | €192,278 | -€119,105 | -€114,684 | ▲ 3.7% |
| Financial income75/76B | - | €4.1m | €1.3m | €1.4m | €1.3m | ▼ 6.4% |
| Recurring financial income75 | €414,287 | €2.6m | €1.3m | €1.4m | €1.3m | ▼ 6.4% |
| Non-recurring financial income76B | - | €1.5m | €0 | - | - | - |
| Financial charges65/66B | - | €95,992 | €112,163 | €34,322 | €37,415 | ▲ 9.0% |
| Recurring financial charges65 | €20,427 | €95,992 | €112,163 | €34,322 | €37,415 | ▲ 9.0% |
| Profit (loss) for the period before taxes9903 | €423,862 | €8.3m | €1.4m | €1.3m | €1.2m | ▼ 7.1% |
| Income taxes67/77 | - | - | €0 | €498 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €423,862 | €8.3m | €1.4m | €1.3m | €1.2m | ▼ 7.1% |
| Profit (loss) for the period to be appropriated9905 | €423,862 | €8.3m | €1.4m | €1.3m | €1.2m | ▼ 7.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €23.6m | €30.7m | €31.9m | €32.9m | €32.7m | ▼ 0.7% |
| Fixed assets21/28 | €20.4m | €13.9m | €13.9m | €22.2m | €22.1m | ▼ 0.4% |
| Tangible fixed assets22/27 | €1.6m | €2.7m | €2.8m | €2.8m | €2.7m | ▼ 2.9% |
| Land and buildings22 | - | €1.7m | €1.7m | €1.7m | €1.6m | ▼ 4.2% |
| Furniture and vehicles24 | - | €38,278 | €36,940 | €36,578 | €37,454 | ▲ 2.4% |
| Other tangible fixed assets26 | - | €985,147 | €1.0m | €1.0m | €1.0m | ▼ 0.8% |
| Financial fixed assets28 | €18.8m | €11.1m | €11.1m | €19.4m | €19.4m | = |
| Current assets29/58 | €3.2m | €16.8m | €18.0m | €10.7m | €10.6m | ▼ 1.4% |
| Amounts receivable within one year40/41 | €37,419 | €687,888 | €252,871 | €827,101 | €584,075 | ▼ 29.4% |
| Trade receivables40 | - | €1,002 | €0 | €50,350 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €686,886 | €252,871 | €776,751 | €584,075 | ▼ 24.8% |
| Current investments50/53 | €3.1m | €15.2m | €16.5m | €8.4m | €8.7m | ▲ 3.5% |
| Cash at bank and in hand54/58 | €90,099 | €938,272 | €1.2m | €1.5m | €1.3m | ▼ 16.1% |
| Deferred charges and accrued income490/1 | - | €3,853 | €4,886 | €10,664 | €55,221 | ▲ 418% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €23.6m | €30.7m | €31.9m | €32.9m | €32.7m | ▼ 0.7% |
| Equity10/15 | €17.3m | €25.5m | €26.9m | €28.2m | €29.4m | ▲ 4.2% |
| Contributions10/11 | €13.5m | €13.5m | €13.5m | €13.5m | €13.5m | = |
| Capital10 | - | €13.5m | €13.5m | €13.5m | €13.5m | = |
| Issued capital100 | - | €13.5m | €13.5m | €13.5m | €13.5m | = |
| Outside capital11 | - | €25,459 | €25,459 | €25,459 | €25,459 | = |
| Share premium1100/10 | - | €25,459 | €25,459 | €25,459 | €25,459 | = |
| Reserves13 | €2.0m | €2.0m | €2.0m | €2.0m | €2.0m | = |
| Non-distributable reserves130/1 | - | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Legal reserve130 | - | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Distributable reserves133 | - | €655,374 | €655,374 | €655,374 | €655,374 | = |
| Profit (loss) carried forward14 | €1.7m | €10.0m | €11.4m | €12.7m | €13.9m | ▲ 9.3% |
| Amounts payable17/49 | €6.4m | €5.2m | €4.9m | €4.7m | €3.3m | ▼ 30.0% |
| Amounts payable after more than one year17 | €4.4m | €2.8m | €2.7m | €2.8m | €2.1m | ▼ 23.5% |
| Financial debts170/4 | - | €2.8m | €2.7m | €2.8m | €2.1m | ▼ 23.5% |
| Amounts payable within one year42/48 | €1.9m | €2.4m | €2.3m | €1.9m | €1.2m | ▼ 38.3% |
| Current portion of amounts payable after more than one year42 | - | €0 | - | €400,000 | €400,000 | = |
| Trade debts44 | €1,574 | €0 | €1,969 | €50,645 | €2,102 | ▼ 95.8% |
| Suppliers440/4 | - | €0 | €1,969 | €50,645 | €2,102 | ▼ 95.8% |
| Advances received on contracts in progress46 | - | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €183 | €3,322 | €3,322 | €0 | ▼ 100% |
| Taxes450/3 | - | €183 | €3,322 | €3,322 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €2.4m | €2.3m | €1.5m | €799,546 | ▼ 46.5% |
| Accrued charges and deferred income492/3 | - | €868 | €0 | €26,184 | €998 | ▼ 96.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €423,862 | €8.3m | €1.4m | €1.3m | €1.2m | ▼ 7.1% |
| + Depreciation and write-downs630 | €45,303 | €181,914 | €67,686 | €75,302 | €76,839 | ▲ 2.0% |
| Operating cash flow (approximation) | €469,166 | €8.4m | €1.5m | €1.4m | €1.3m | ▼ 6.6% |
| Investment in fixed assets (approximation) | - | €6.3m | -€107,432 | -€8.3m | €2,412 | ▲ 100% |
| Change in cash | - | €848,172 | €259,649 | €322,897 | -€244,799 | ▼ 176% |
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
Next filing, fiscal year 2026, expected by
2026
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
22-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Highest result since 2018net €8.3m ▲1,850%
Operating result €4.2m, net result €8.3m, both a record.
30-09
Financial
Liquidity quadruplescurrent ratio 7.00
Current ratio from 1.66 to 7.00.
30-09
Financial
Equity above €25mEq €25.5m ▲47.9%
3 profitable years in a row build equity to €25.5m.
23-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
01-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Back to profitnet €406,425
Net result €406,425 after one loss-making year.
26-03
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Weakest financial yearnet -€717,175
Net result drops to -€717,175, the lowest in the series; recovery starts the following year.
Show earlier events
30-09
Financial
Liquidity quadruplescurrent ratio 47.05
Current ratio from 11.08 to 47.05; short-term debt falls from €196,162 to €63,886.
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
10 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, Antwerpen · 1 establishment unit since 1999
Ground area
4,953 m²
Building footprint
4,254 m²
Volume, LiDAR
64,385 m³
Parcel 11811L3665/00X000, Flanders · tallest building 29.2 m, ±6 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
Leopold de Waelplaats 28, 2000 Antwerpen
since 19992.089.869.057
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11811L3665/00X000 | Flanders | 4,953 m² | 1 · 4,254 m² | 29.2 m · 6 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-09-2025 list no shareholders, and no other source names one.
Holdings 1
-
16.53%
According to the annual accounts to 30-09-2025 of GAVEL and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
967600M0BL7M5D3OSN47
Identification & contact
Identification
Legal formPublic limited company
Founded26-11-1998
Fiscal year end30-09
E-invoicing
Reachable via Peppol
Peppol ID
0208:0464679389
Also
9925:BE0464679389
Registered
05-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.