GBTEC
ActiveSummary
GBTEC has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €153,808 and a net result of €31,303. Equity is growing by ~45% per year across the filed fiscal years. Its solvency ranks better than 64% of 36380 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability84▲+3
Solvency84▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 2.34 against 2.25 in 2023; short-term debt: 8.3% and cash: 13.8% of total assets), and 41.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
36 d early
2022
59 d early
2021
39 d early
2020
2 d early
2019
56 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 38 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€153,808▲ 25.6%
2023 · €122,505
Total assets
€261,816▲ 8.9%
2023 · €240,464
Net result
€31,303▲ 33.2%
2023 · €23,501
Working capital
€29,371▼ 26.1%
2023 · €39,720
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€15,908▼ 16.3%€30,702▲ 93.0%€42,168▲ 37.3%€35,425▼ 16.0%€40,323▲ 13.8%
Net result€14,812within the sector's middle half▲ 19.0%€20,695within the sector's middle half▲ 39.7%€32,275above the sector's middle half▲ 56.0%€23,501within the sector's middle half▼ 27.2%€31,303above the sector's middle half▲ 33.2%
Equity€46,034within the sector's middle half▲ 47.4%€66,729within the sector's middle half▲ 45.0%€99,004within the sector's middle half▲ 48.4%€122,505within the sector's middle half▲ 23.7%€153,808above the sector's middle half▲ 25.6%
Total assets€215,131within the sector's middle half▲ 4.3%€213,465within the sector's middle half▼ 0.8%€283,592within the sector's middle half▲ 32.9%€240,464within the sector's middle half▼ 15.2%€261,816within the sector's middle half▲ 8.9%
Debt€169,097▼ 3.4%€146,736▼ 13.2%€184,588▲ 25.8%€117,959▼ 36.1%€108,008▼ 8.4%
Working capital-€2,223▲ 79.0%€11,074€21,659▲ 95.6%€39,720▲ 83.4%€29,371▼ 26.1%
Solvency21.4%within the sector's middle half▲ 6.3pp31.3%within the sector's middle half▲ 9.9pp34.9%within the sector's middle half▲ 3.7pp50.9%within the sector's middle half▲ 16.0pp58.7%within the sector's middle half▲ 7.8pp
Staff (FTE)1within the sector's middle half=1=1=0.7▼ 30.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 14% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €261,816
Fixed assets
€210,587 ▲ 24.7%
Current assets
€51,229 ▼ 28.4%
Equity and liabilities €261,816
Equity
€153,808 ▲ 25.6%
Debt
€108,008 ▼ 8.4%
Debt's share of the balance-sheet total falls from 49.1% to 41.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€64,015▲
2023 · €48,999
Cash flow
€54,995▲
2023 · €37,075
Current ratio
2.34▲
2023 · 2.25
Debt to equity
0.70▼
2023 · 0.96
ROE
20.4%▲
2023 · 19.2%
ROA
12.0%▲
2023 · 9.8%
Interest coverage
25.23▲
2023 · 18.02
Debt ≤ 1 year
€21,859▼
2023 · €31,873
Debt > 1 year
€86,130▲
2023 · €86,086
Income taxes
€6,540▼
2023 · €9,370
Staff costs
€528▼
2023 · €41,217
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 34,679 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €49,542 | €42,988 | €41,217 | €528 | ▼ 98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,859 | €14,482 | €16,158 | €13,575 | €23,692 | ▲ 74.5% |
| Other operating charges640/8 | - | €878 | €784 | €2,546 | €937 | ▼ 63.2% |
| Gross operating margin9900 | €79,371 | €95,604 | €102,097 | €92,763 | €65,480 | ▼ 29.4% |
| Operating profit (loss)9901 | €15,908 | €30,702 | €42,168 | €35,425 | €40,323 | ▲ 13.8% |
| Financial income75/76B | - | €59 | €141 | €164 | €57 | ▼ 65.4% |
| Recurring financial income75 | €212 | €59 | €141 | €164 | €57 | ▼ 65.4% |
| Financial charges65/66B | - | €2,852 | €3,320 | €2,719 | €2,537 | ▼ 6.7% |
| Recurring financial charges65 | €2,587 | €2,852 | €3,320 | €2,719 | €2,537 | ▼ 6.7% |
| Profit (loss) for the period before taxes9903 | €16,033 | €27,908 | €38,989 | €32,871 | €37,843 | ▲ 15.1% |
| Income taxes67/77 | €1,221 | €7,213 | €6,714 | €9,370 | €6,540 | ▼ 30.2% |
| Profit (loss) for the period9904 | €14,812 | €20,695 | €32,275 | €23,501 | €31,303 | ▲ 33.2% |
| Profit (loss) for the period to be appropriated9905 | €14,812 | €20,695 | €32,275 | €23,501 | €31,303 | ▲ 33.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €215,131 | €213,465 | €283,592 | €240,464 | €261,816 | ▲ 8.9% |
| Fixed assets21/28 | €158,986 | €168,013 | €202,956 | €168,871 | €210,587 | ▲ 24.7% |
| Tangible fixed assets22/27 | €158,986 | €168,013 | €202,956 | €168,871 | €210,466 | ▲ 24.6% |
| Land and buildings22 | - | €141,727 | €137,852 | €133,977 | €130,101 | ▼ 2.9% |
| Plant, machinery and equipment23 | - | €2,365 | €2,101 | €1,837 | €1,574 | ▼ 14.4% |
| Furniture and vehicles24 | - | €7,692 | €48,829 | €16,160 | €63,103 | ▲ 290% |
| Leasing and similar rights25 | - | €1,412 | €938 | €463 | - | - |
| Other tangible fixed assets26 | - | €14,818 | €13,236 | €16,434 | €15,687 | ▼ 4.5% |
| Financial fixed assets28 | - | - | - | - | €121 | - |
| Current assets29/58 | €56,145 | €45,452 | €80,637 | €71,593 | €51,229 | ▼ 28.4% |
| Stocks and contracts in progress3 | €4,538 | €3,000 | €9,216 | - | - | - |
| Stocks30/36 | - | €3,000 | €9,216 | - | - | - |
| Amounts receivable within one year40/41 | €24,228 | €23,483 | €53,968 | €13,529 | €14,172 | ▲ 4.8% |
| Trade receivables40 | - | €16,815 | €38,604 | €11,399 | €1,679 | ▼ 85.3% |
| Other amounts receivable41 | - | €6,669 | €15,364 | €2,130 | €12,493 | ▲ 486% |
| Cash at bank and in hand54/58 | €26,235 | €18,473 | €15,119 | €57,785 | €36,148 | ▼ 37.4% |
| Deferred charges and accrued income490/1 | - | €495 | €2,333 | €279 | €910 | ▲ 225% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €215,131 | €213,465 | €283,592 | €240,464 | €261,816 | ▲ 8.9% |
| Equity10/15 | €46,034 | €66,729 | €99,004 | €122,505 | €153,808 | ▲ 25.6% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,289 | €21,984 | €21,984 | €45,484 | €45,484 | = |
| Non-distributable reserves130/1 | - | €1,289 | €1,289 | €1,289 | - | - |
| Reserves not available under the articles1311 | - | €1,289 | €1,289 | €1,289 | - | - |
| Distributable reserves133 | - | €20,695 | €20,695 | €44,195 | €45,484 | ▲ 2.9% |
| Profit (loss) carried forward14 | €26,145 | €26,145 | €58,420 | €58,421 | €89,723 | ▲ 53.6% |
| Amounts payable17/49 | €169,097 | €146,736 | €184,588 | €117,959 | €108,008 | ▼ 8.4% |
| Amounts payable after more than one year17 | €110,729 | €112,358 | €125,610 | €86,086 | €86,130 | ▲ 0.1% |
| Financial debts170/4 | - | €112,358 | €125,610 | €86,086 | €86,130 | ▲ 0.1% |
| Amounts payable within one year42/48 | €58,368 | €34,377 | €58,978 | €31,873 | €21,859 | ▼ 31.4% |
| Current portion of amounts payable after more than one year42 | - | €15,107 | €21,273 | €12,529 | €16,566 | ▲ 32.2% |
| Trade debts44 | €29,724 | €10,618 | €28,635 | €14,784 | €4,479 | ▼ 69.7% |
| Suppliers440/4 | - | €10,618 | €28,635 | €14,784 | €4,479 | ▼ 69.7% |
| Taxes, remuneration and social security45 | - | €751 | €2,158 | €725 | €83 | ▼ 88.6% |
| Taxes450/3 | - | - | - | €642 | - | - |
| Remuneration and social security454/9 | - | €751 | €2,158 | €83 | €83 | = |
| Other amounts payable47/48 | - | €7,901 | €6,912 | €3,835 | €731 | ▼ 80.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | €20 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,812 | €20,695 | €32,275 | €23,501 | €31,303 | ▲ 33.2% |
| + Depreciation and write-downs630 | €13,859 | €14,482 | €16,158 | €13,575 | €23,692 | ▲ 74.5% |
| Operating cash flow (approximation) | €28,671 | €35,177 | €48,433 | €37,075 | €54,995 | ▲ 48.3% |
| Investment in fixed assets (approximation) | - | -€23,508 | -€51,100 | €20,510 | -€65,408 | ▼ 419% |
| Change in cash | - | -€7,762 | -€3,354 | €42,665 | -€21,637 | ▼ 151% |
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
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €150,000Eq €153,808 ▲25.6%
7 profitable years in a row build equity to €153,808.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €100,000Eq €122,505 ▲23.7%
6 profitable years in a row build equity to €122,505.
02-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €32,275 ▲56%
Operating result €42,168, net result €32,275, both a record.
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
05-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
12-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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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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, Incourt · 1 establishment unit since 2014
Ground area
1,147 m²
Building footprint
87 m²
Volume, LiDAR
511 m³
Parcel 25080B0262/00D000, Wallonia · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GBTEC
since 20142.233.702.043
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25080B0262/00D000 | Wallonia | 1,147 m² | 1 · 87 m² | 7.1 m · 2 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.
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Of 9,536 companies in sector 43222 we hold annual accounts for 5,669. 4,899 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded15-07-2014
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
Contact
E-mail
info@gbtec.be
Phone
0474/53.98.25
E-invoicing
Reachable via Peppol
Peppol ID
0208:0556811078
Also
9925:BE0556811078
Registered
16-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.