GAZGAN
ActiveGAZGAN has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-72k) and a net result of €-4k. Equity is shrinking by ~19.8% per year across the filed fiscal years. Its solvency ranks better than 9% of 26043 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2024
28
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability23▼-8
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.22 against 0.22 in 2023; short-term debt: 209.5% 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○neutral
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 2024Solvency, return and age of the figures
Solvency
-109.5%
Return on assets
-5.8%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← 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
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-72k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2025, 31 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d late
2023
30 d late
2022
31 d late
2021
31 d late
2020
26 d late
2019
90 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€-72k▼ 5.6%
2023 · €-68k
2018: €33k
2019: €-12k
2020: €-61k
2021: €-60k
2022: €-67k
2023: €-68k
2018 → 2024
Total assets
€66k▼ 4.5%
2023 · €69k
2018: €182k
2019: €141k
2020: €121k
2021: €100k
2022: €81k
2023: €69k
2018 → 2024
Net result
€-4k▼ 100%
2023 · €-2k
2018: €-12k
2019: €-44k
2020: €-50k
2021: €2k
2022: €-7k
2023: €-2k
2018 → 2024
Working capital
€-108k▼ 0.4%
2023 · €-107k
2018: €22k
2019: €-25k
2020: €-82k
2021: €-86k
2022: €-105k
2023: €-107k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€-61k-€-60k▲ 2.9%€-67k▼ 11.6%€-68k▼ 2.9%€-72k▼ 5.6%
Operating result€-48k-€5k€-6k€-2k▲ 70.3%€-4k▼ 100%
Net result€-50k-€2k€-7k€-2k▲ 72.4%€-4k▼ 100%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4k in 2024 against €2k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €66k
Fixed assets
€36k▼ 8.7%
Current assets
€30k▲ 0.9%
Key figures and ratios
EBITDA
€-2k
Cash flow
€-2k
Solvency
-109.5%▼
2023 · -99.0%
Current ratio
0.22▲
2023 · 0.22
Quick ratio
0.00▲
2023 · 0.00
Debt / equity
-1.91▲
2023 · -2.01
ROA
-5.8%▼
2023 · -2.8%
Debt
€138k▲
2023 · €138k
Debt ≤ 1 year
€138k▲
2023 · €138k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€69k€66k▼
Fixed assets21/28€39k€36k▼
Tangible fixed assets22/27€39k€36k▼
Plant, machinery and equipment23€1k-
Other tangible fixed assets26€38k€36k▼
Current assets29/58€30k€30k▲
Stocks and contracts in progress3€30k€30k=
Stocks30/36€30k€30k=
Amounts receivable within one year40/41-€285
Other amounts receivable41-€285
Equity and liabilities
Total equity and liabilities10/49€69k€66k▼
Equity10/15€-68k€-72k▼
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€-89k€-93k▼
Amounts payable17/49€138k€138k▲
Amounts payable within one year42/48€138k€138k▲
Trade debts44€2k-
Suppliers440/4€2k-
Other amounts payable47/48€136k€138k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€2k
Other operating charges640/8€348€387▲
Non-recurring operating charges66A-€1k
Gross operating margin9900€-2k€-64▲
Operating profit (loss)9901€-2k€-4k▼
Financial income75/76B€0-
Recurring financial income75€0-
Profit (loss) for the period before taxes9903€-2k€-4k▼
Profit (loss) for the period9904€-2k€-4k▼
Profit (loss) for the period to be appropriated9905€-2k€-4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-89k€-93k▼
Profit (loss) brought forward from the previous period14P€-87k€-89k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €2k
Net result €2k after 3 loss-making years.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Weakest financial yearnet €-50k
Net result drops to €-50k, the lowest in the series; recovery starts the following year.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 29 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 30 days late
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, Pepingen · 1 establishment unit since 2002
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.
Steenweg op Elingen(P) 71670 PepingenGround area
1,792 m²
Building footprint
761 m²
Volume, LiDAR
4,740 m³
2 parcels, Flanders · tallest building 12.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
THE COSY COTTAGE
since 20022.100.573.107
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23064B0466/00A000 | Flanders | 912 m² | 1 · 611 m² | 12.1 m · 2 fl. |
| 22004C0660/00X000 | Flanders | 880 m² | 1 · 150 m² | 7.8 m · 2 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
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Of 4,245 companies in sector 47789 we hold annual accounts for 1,020. 721 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-03-2002
Fiscal year end31-12
Activities, NACEBEL
47789Other retail sale of new goods
52498
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.