GBRC
InactiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 22-09-2025 PDF all 17 filings
Turnover
≈ €27,000
Estimated: probably between €11,000 and €66,000
Total assets
€9.3m▲ 2.1%
2024 · €9.1m
Net result
€241,157▼ 76.0%
2024 · €1.0m
Working capital
€9.3m▲ 3.0%
2024 · €9.0m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€9,223
2025
20192025
Net result
€241,157
▼ 76.0%
2025
20192025
Equity
€9.3m
▲ 2.7%
2025
20192025
Total assets
€9.3m
▲ 2.1%
2025
20192025
Debt
€0
▼ 100%
2025
20192025
Working capital
€9.3m
▲ 3.0%
2025
20192025
Staff (FTE)
0
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.7m-€0.7m▲ 8.9%€0.8m▲ 14.0%€0.9m▲ 6.3%€0.7m▼ 24.9%€0.9m▲ 41.1%-€0.009m
Net result€0.5m-€0.7m▲ 55.5%€1.0m▲ 43.4%€0.8m▼ 18.2%€0.5m▼ 44.3%€1.0m▲ 120%€0.2m▼ 76.0%
Equity€5.0m-€5.7m▲ 13.9%€6.7m▲ 17.5%€7.6m▲ 12.2%€8.0m▲ 6.0%€9.0m▲ 12.5%€9.3m▲ 2.7%
Total assets€5.3m-€5.9m▲ 12.2%€7.0m▲ 17.3%€7.7m▲ 10.4%€8.1m▲ 4.7%€9.1m▲ 12.5%€9.3m▲ 2.1%
Debt€0.3m-€0.2m▼ 20.4%€0.2m▲ 13.3%€0.1m▼ 41.2%€0.05m▼ 66.2%€0.05m▲ 5.7%€0▼ 100%
Working capital€5.0m-€5.7m▲ 14.7%€6.7m▲ 17.7%€7.5m▲ 12.4%€8.0m▲ 6.2%€9.0m▲ 12.7%€9.3m▲ 3.0%
Staff (FTE)0
The operating result for 2025 is a loss of €9,223, after a profit of €942,101 in 2024. It is the lowest result since 2021.
Large changes and their cause
- 2025 Net result -76% on 2024. This financial year ran 11 months, the previous one 12.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Key figures and ratios
EBITDA
-€9,223▼
2024 · €948,661
Cash flow
€241,157▼
2024 · €1.0m
Solvency
100.0%▲
2024 · 99.5%
Debt to equity
0.00▼
2024 · 0.01
ROE
2.6%▼
2024 · 11.1%
ROA
2.6%▼
2024 · 11.1%
Interest coverage
-1.71▼
2024 · 6.77
Debt ≤ 1 year
€0▼
2024 · €49,848
Income taxes
€113,250▼
2024 · €323,919
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €0.003m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.03m | €0.03m | €0.007m | €0.007m | €0.001m | €0.007m | €0 | ▼ 100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.006m | €0 | - | - |
| Other operating charges640/8 | - | - | - | €0.04m | €0.004m | €0.03m | €0.01m | ▼ 48.8% |
| Gross operating margin9900 | €0.7m | €0.8m | €0.9m | €0.9m | €0.7m | €1.0m | €0.004m | ▼ 99.6% |
| Operating profit (loss)9901 | €0.7m | €0.7m | €0.8m | €0.9m | €0.7m | €0.9m | -€0.009m | - |
| Financial income75/76B | - | - | - | €0.3m | €0.03m | €0.5m | €0.4m | ▼ 30.0% |
| Recurring financial income75 | €0.05m | €0.3m | €0.5m | €0.3m | €0.03m | €0.5m | €0.4m | ▼ 30.0% |
| Financial charges65/66B | - | - | - | €0.03m | €0.02m | €0.1m | €0.005m | ▼ 96.1% |
| Recurring financial charges65 | €0.02m | €0.007m | €0.02m | €0.03m | €0.02m | €0.1m | €0.005m | ▼ 96.1% |
| Profit (loss) for the period before taxes9903 | €0.7m | €1.0m | €1.3m | €1.1m | €0.7m | €1.3m | €0.4m | ▼ 73.3% |
| Income taxes67/77 | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.3m | €0.1m | ▼ 65.0% |
| Profit (loss) for the period9904 | €0.5m | €0.7m | €1.0m | €0.8m | €0.5m | €1.0m | €0.2m | ▼ 76.0% |
| Profit (loss) for the period to be appropriated9905 | €0.5m | €0.7m | €1.0m | €0.8m | €0.5m | €1.0m | €0.2m | ▼ 76.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €5.3m | €5.9m | €7.0m | €7.7m | €8.1m | €9.1m | €9.3m | ▲ 2.1% |
| Fixed assets21/28 | €0.09m | €0.06m | €0.05m | €0.05m | €0.04m | €0.03m | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €0.09m | €0.06m | €0.05m | €0.05m | €0.04m | €0.03m | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €0.001m | €210 | €0 | - | - |
| Other tangible fixed assets26 | - | - | - | €0.04m | €0.04m | €0.03m | €0 | ▼ 100% |
| Current assets29/58 | €5.2m | €5.9m | €6.9m | €7.7m | €8.0m | €9.0m | €9.3m | ▲ 2.5% |
| Stocks and contracts in progress3 | €0.07m | €0.07m | €0.07m | €0.08m | €0.04m | €0 | - | - |
| Stocks30/36 | - | - | - | €0.08m | €0.04m | €0 | - | - |
| Amounts receivable within one year40/41 | €0.3m | €0.3m | €0.2m | €0.7m | €0.2m | €0.7m | €0.002m | ▼ 99.8% |
| Trade receivables40 | - | - | - | €0.2m | €0.06m | €0.7m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €0.5m | €0.2m | €0.001m | €0.002m | ▲ 59.6% |
| Current investments50/53 | €2.4m | €2.7m | €3.5m | €3.9m | €7.0m | €8.3m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €2.5m | €2.9m | €3.1m | €3.0m | €0.8m | €0.03m | €9.3m | ▲ 338× |
| Deferred charges and accrued income490/1 | - | - | - | €0 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €5.3m | €5.9m | €7.0m | €7.7m | €8.1m | €9.1m | €9.3m | ▲ 2.1% |
| Equity10/15 | €5.0m | €5.7m | €6.7m | €7.6m | €8.0m | €9.0m | €9.3m | ▲ 2.7% |
| Contributions10/11 | €1.7m | - | - | €1.7m | €1.7m | €1.7m | €1.7m | = |
| Reserves13 | €3.4m | €4.1m | €5.1m | €5.9m | €6.4m | €7.4m | €7.6m | ▲ 3.3% |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves not available under the articles1311 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Distributable reserves133 | - | - | - | €5.7m | €6.2m | €7.2m | €7.4m | ▲ 3.4% |
| Amounts payable17/49 | €0.3m | €0.2m | €0.2m | €0.1m | €0.05m | €0.05m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.3m | €0.2m | €0.2m | €0.1m | €0.05m | €0.05m | €0 | ▼ 100% |
| Trade debts44 | €0.1m | €0.1m | €0.2m | €0.08m | €0.04m | €0.01m | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €0.08m | €0.04m | €0.01m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.05m | €0 | €0.04m | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €0.05m | €0 | €0.04m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €0.02m | €0.01m | €0 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.5m | €0.7m | €1.0m | €0.8m | €0.5m | €1.0m | €0.2m | ▼ 76.0% |
| + Depreciation and write-downs630 | €0.03m | €0.03m | €0.007m | €0.007m | €0.001m | €0.007m | €0 | ▼ 100% |
| Operating cash flow (approximation) | €0.5m | €0.7m | €1.0m | €0.8m | €0.5m | €1.0m | €0.2m | ▼ 76.2% |
| Investment in fixed assets (approximation) | - | €0 | -€0.002m | €0 | €0.006m | €0 | €0.03m | - |
| Change in cash | - | €0.4m | €0.2m | -€0.1m | -€2.2m | -€0.8m | €9.2m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 28-08-2025 | abbreviated format | 22-09-2025 | 2025-00497248 | |
| 30-09-2024 | abbreviated format | 21-03-2025 | 2025-00051394 | |
| 30-09-2023 | abbreviated format | 21-03-2024 | 2024-00046829 | |
| 30-09-2022 | abbreviated format | 31-03-2023 | 2023-00049601 | |
| 30-09-2021 | abbreviated format | 24-03-2022 | 2022-08500436 | |
| 30-09-2020 | abbreviated format | 30-03-2021 | 2021-09100032 | |
| 30-09-2019 | abbreviated format | 21-03-2020 | 2020-07400312 | |
| 30-09-2018 | abbreviated format | 25-03-2019 | 2019-07800460 | |
| 30-09-2017 | abbreviated format | 24-03-2018 | 2018-08200097 | |
| 30-09-2016 | abbreviated format | 17-03-2017 | 2017-06700167 |