GBHT Holding
ActiveSummary
GBHT Holding has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €339,577 and a net result of €388,427. Equity is shrinking by ~42.6% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 46% of 14462 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
What they do
Renting and operating of own or leased residential real estate, excluding social housing
NACE 68201
1 site
How big
€1.4mtotal assets 2025
- Equity
- €339,577
- Profit
- €388,427
Turnover not published (abridged schema)
Who decides
Accounts 92 d early0 of 6 deeds read
Why 85+ Lower-failure-rate sector+ Annual accounts: healthy financial profile+ Long track record+ Lower-risk legal formLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+49
Solvency49▲+29
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity tight (current ratio 1.14 against 0.06 in 2024; short-term debt: 48.3% and cash: 55% of total assets), and 75.8% 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○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
24.2%
Return on assets
27.7%
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 28-01-2026, 92 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
92 d early
2024
29 d early
2023
16 d early
2022
5 d early
2021
47 d early
2020
28 d early
2019
37 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 36 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed 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 1 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close01-10-2026 today30-04-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Back to profitnet €388,427
- Liquidity times 19current ratio 1.14
Financials
Fiscal year 2025Total assets €1.4mProfit €388,427Solvency 24.2%Liquidity 1.14
Total assets
€1.4m▲ 52.5%
2019 - 2025
Net result
€388,427
2019 - 2025
Equity
€339,577
2019 - 2025
Solvency
24.2%▲ 29.5pp
2019 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€0.04m-€0.04m▼ 17.9%-€0.04m▲ 2.1%-€0.005m▲ 88.5%€0.5m
Net result-€0.05mbelow the sector's middle half-€0.05mbelow the sector's middle half▼ 8.7%-€0.06mbelow the sector's middle half▼ 11.2%-€0.02mbelow the sector's middle half▲ 58.3%€0.4mabove the sector's middle half
Equity€0.08mwithin the sector's middle half▼ 36.5%€0.03mwithin the sector's middle half▼ 62.4%-€0.03mbelow the sector's middle half-€0.05mbelow the sector's middle half▼ 91.0%€0.3mabove the sector's middle half
Total assets€1.3mabove the sector's middle half▼ 24.1%€1.2mabove the sector's middle half▼ 8.5%€1.0mwithin the sector's middle half▼ 19.4%€0.9mwithin the sector's middle half▼ 5.1%€1.4mabove the sector's middle half▲ 52.5%
Debt€1.2m▼ 23.2%€1.2m▼ 5.0%€1.0m▼ 15.1%€1.0m▼ 2.7%€0.9m▼ 3.9%
Working capital-€0.5mbelow the sector's middle half▲ 43.3%-€0.5mbelow the sector's middle half▲ 1.0%-€0.7mbelow the sector's middle half▼ 24.8%-€0.6mbelow the sector's middle half▲ 4.6%€0.1mwithin the sector's middle half
Solvency6.1%within the sector's middle half▼ 1.2pp2.5%below the sector's middle half▼ 3.6pp-2.6%below the sector's middle half▼ 5.1pp-5.3%below the sector's middle half▼ 2.7pp24.2%within the sector's middle half▲ 29.5pp
Current ratio0.19below the sector's middle half▲ 0.160.20below the sector's middle half▲ 0.010.02below the sector's middle half▼ 0.190.06below the sector's middle half▲ 0.051.14within the sector's middle half▲ 1.08
Return on assets (ROA)-3.5%below the sector's middle half▼ 3.7pp-4.2%below the sector's middle half▼ 0.7pp-5.7%below the sector's middle half▼ 1.6pp-2.5%within the sector's middle half▲ 3.2pp27.7%above the sector's middle half▲ 30.2pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €535,321 after a loss of €4,840 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€628,283 ▼ 28.5%
Current assets
€775,257 ▲ 1,770%
Equity and liabilities €1.4m
Equity
€339,577
Provisions
€132,996
Debt
€930,967
Debt finances 66.3% of the balance-sheet total.
Key figures and ratios
Key figures and ratios
EBITDA
€577,842▲
2024 · €76,619
Cash flow
€430,948▲
2024 · €58,190
Debt to equity
2.74
ROE
114.4%
Interest coverage
42.10▲
2024 · 4.19
Debt ≤ 1 year
€677,217▲
2024 · €671,305
Debt > 1 year
€253,750▼
2024 · €288,750
Income taxes
€172▲
2024 · €160
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,609 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.0%
went bankrupt
2.1%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,609 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €531,985 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €141,872 | €119,977 | €91,113 | €81,458 | €42,521 | ▼ 47.8% |
| Other operating charges640/8 | - | €12,872 | €20,320 | €20,254 | €4,018 | ▼ 80.2% |
| Non-recurring operating charges66A | - | - | €19,883 | - | - | - |
| Gross operating margin9900 | €118,662 | €90,000 | €89,368 | €96,872 | €581,860 | ▲ 501% |
| Operating profit (loss)9901 | -€36,350 | -€42,850 | -€41,947 | -€4,840 | €535,321 | ▲ 11,161% |
| Financial income75/76B | - | €0 | - | - | - | - |
| Recurring financial income75 | €0 | €0 | - | - | - | - |
| Financial charges65/66B | - | €7,124 | €13,628 | €18,269 | €13,726 | ▼ 24.9% |
| Recurring financial charges65 | €10,003 | €7,124 | €13,628 | €18,269 | €13,726 | ▼ 24.9% |
| Profit (loss) for the period before taxes9903 | -€46,352 | -€49,974 | -€55,576 | -€23,109 | €521,594 | ▲ 2,357% |
| Transfer to deferred taxes680 | - | - | - | - | €132,996 | - |
| Income taxes67/77 | €190 | €171 | €163 | €160 | €172 | ▲ 7.4% |
| Profit (loss) for the period9904 | -€46,137 | -€50,145 | -€55,739 | -€23,268 | €388,427 | ▲ 1,769% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €398,988 | - |
| Profit (loss) for the period to be appropriated9905 | -€44,922 | -€50,145 | -€55,739 | -€23,268 | -€10,562 | ▲ 54.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.2m | €1.0m | €0.9m | €1.4m | ▲ 52.5% |
| Fixed assets21/28 | €1.2m | €1.1m | €1.0m | €0.9m | €0.6m | ▼ 28.5% |
| Intangible fixed assets21 | €0.2m | €0.1m | €0.1m | €0.09m | €0.07m | ▼ 25.0% |
| Tangible fixed assets22/27 | €1.0m | €0.9m | €0.8m | €0.8m | €0.6m | ▼ 28.9% |
| Land and buildings22 | - | €0.9m | €0.8m | €0.8m | €0.6m | ▼ 28.5% |
| Plant, machinery and equipment23 | - | €0.007m | - | €0.001m | €0.001m | ▼ 34.6% |
| Furniture and vehicles24 | - | €0.03m | €0.02m | €0.005m | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | €0.01m | - | - | - | - |
| Current assets29/58 | €0.1m | €0.1m | €0.01m | €0.04m | €0.8m | ▲ 1,770% |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.007m | €0.04m | €0.8m | ▲ 1,956% |
| Deferred charges and accrued income490/1 | - | €0.01m | €0.004m | €0.004m | €0.003m | ▼ 15.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.2m | €1.0m | €0.9m | €1.4m | ▲ 52.5% |
| Equity10/15 | €0.08m | €0.03m | -€0.03m | -€0.05m | €0.3m | ▲ 795% |
| Contributions10/11 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Capital10 | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Issued capital100 | - | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.5m | ▲ 352% |
| Non-distributable reserves130/1 | - | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Legal reserve130 | - | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Tax-exempt reserves132 | - | €0.04m | €0.04m | €0.04m | €0.4m | ▲ 908% |
| Profit (loss) carried forward14 | -€0.7m | -€0.7m | -€0.8m | -€0.8m | -€0.8m | ▼ 1.3% |
| Provisions and deferred taxes16 | - | - | - | - | €0.1m | - |
| Deferred taxes168 | - | - | - | - | €0.1m | - |
| Amounts payable17/49 | €1.2m | €1.2m | €1.0m | €1.0m | €0.9m | ▼ 3.9% |
| Amounts payable after more than one year17 | €0.6m | €0.5m | €0.3m | €0.3m | €0.3m | ▼ 12.1% |
| Financial debts170/4 | - | €0.5m | €0.3m | €0.3m | €0.3m | ▼ 12.1% |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 0.9% |
| Current portion of amounts payable after more than one year42 | - | €0.06m | €0.04m | €0.04m | €0.04m | = |
| Trade debts44 | €0.002m | €0.01m | €0.001m | €0.001m | €0.01m | ▲ 669% |
| Suppliers440/4 | - | €0.01m | €0.001m | €0.001m | €0.01m | ▲ 669% |
| Taxes, remuneration and social security45 | - | €175 | €163 | €160 | €172 | ▲ 7.4% |
| Taxes450/3 | - | €175 | €163 | €160 | €172 | ▲ 7.4% |
| Other amounts payable47/48 | - | €0.6m | €0.6m | €0.6m | €0.6m | ▼ 0.4% |
| Accrued charges and deferred income492/3 | - | - | €0.001m | €0.009m | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€46,137 | -€50,145 | -€55,739 | -€23,268 | €388,427 | ▲ 1,769% |
| + Depreciation and write-downs630 | €141,872 | €119,977 | €91,113 | €81,458 | €42,521 | ▼ 47.8% |
| Operating cash flow (approximation) | €95,735 | €69,832 | €35,374 | €58,190 | €430,948 | ▲ 641% |
| Investment in fixed assets (approximation) | - | €0 | €19,883 | -€1,250 | €208,016 | ▲ 16,741% |
| Change in cash | - | €12,125 | -€116,369 | €30,314 | €734,421 | ▲ 2,323% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
FRABELL
BE 0536.698.030
Brugge · Eq €339,562
VANDEPUTTE INVEST
BE 0771.779.015
Eeklo · Eq €340,056
P.D.M.- INVEST
BE 0476.275.146
Oostkamp · Eq €338,970
MANAG'IN
BE 0475.633.956
Rixensart · Eq €338,482
INDUCOM
BE 0426.940.649
Ternat · Eq €338,399
Of 9,141 companies in this sector we hold annual accounts for 6,773. 5,018 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
15 eventsLatest 28-01-2026Next filing 30-04-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €388,427
Net result €388,427 after 4 loss-making years.
30-09
Financial
Liquidity times 19current ratio 1.14
Current ratio from 0.06 to 1.14.
30-09
Financial
Equity above €200,000Eq €339,577
Equity rises from -€48,850 to €339,577.
01-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
14-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Weakest financial yearnet -€55,739
Net result drops to -€55,739, the lowest in the series; recovery starts the following year.
25-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
14-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €3,307
Net result €3,307 after one loss-making year.
24-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
21-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
11-04
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 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Company details
Public limited company · founded 19-12-2008Year ends 30-09Peppol reachable1 site
Register details
Identification
Legal formPublic limited company
Founded19-12-2008
Fiscal year end30-09
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68310Real estate agency activities
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0808568640
Also
9925:BE0808568640
Registered
08-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Lokeren · 1 establishment unit since 2008
Ground area
1,797 m²
Building footprint
166 m²
Parcel 46014A0046/00G000, Flanders. Linked by address, not a title deed.
1 establishment unit
GBHT HOLDING
since 2008unit no. 2.175.238.757
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46014A0046/00G000 | Flanders | 1,796 m² | 1 · 166 m² | - |
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.
Go further with this company
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