GCM CONSTRUCT
ActiveSummary
The annual accounts of GCM CONSTRUCT for financial year 2025 show a net loss of 72% of the equity at the start of that year. The 2025 annual accounts show equity of €5,146 and a net result of -€13,530. Equity has been shrinking by about 19% per year since 2020. If that trend continues, it turns negative around financial year 2027. Its solvency ranks better than 10% of 2,334 sector peers (NACE 25, financial year 2025). The company has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.0% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 11-06-2010 Normal situation
- Activity
- Forging of metal NACE 25401and 5 others
- Establishment unit
- 2.189.611.682 2200 Herentals, since 22-06-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 29-07-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 1.0%
- Gross margin
- €75,948
- Turnover
- ≈ €230,000
- estimated
- Loss
- €13,530
- ▼ 81.3%
- Equity
- €5,146
- ▼ 72.4%
- Total assets
- €1.2m
- ▲ 10.3%
- 2025 accounts filed 28 days after the deadline
Score breakdownraises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLast filed accounts filed 28 days late; 2 of the last 3 accounts lateSector: Manufacture of fabricated metal products, except machinery and equipment (NACE 25)Equity €5,146 (0.4% of total assets)lowers riskSize: total assets €1.2mShow the evidence
Checked score
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 25, micro). It does better than 8% of them on solvency, 45% on liquidity, 16% on profitability and 5% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 6 accounts on average 27 days after the deadline. In the sector (NACE 25), the median for financial year 2024 was 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00443635.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 6 filings
Every figure per financial year
The operating result for 2025 is a profit of €28,690, after a loss of €39,595 in 2024. It is the highest result since 2020.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | - | - | - | €900,000 |
| Carrying value of the mortgaged assets | - | - | - | - | €1.1m |
| Carrying value of the other pledged assets | €14,608 | €7,304 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5,999 | €8,759 | €499,204 | €585,121 | €128,888 |
| Financial fixed assets | - | - | €0 | - | €3,240 |
| Depreciation and write-downs of the year | €15,973 | €16,942 | €12,132 | €33,964 | €45,694 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €19,913 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,137 | €15,973 | €16,942 | €12,132 | €33,964 | €45,694 | ▲ 34.5% |
| Other operating charges640/8 | - | €1,308 | €1,140 | €42,418 | €1,557 | €1,564 | ▲ 0.5% |
| Gross operating margin9900 | €34,470 | €45,962 | €46,215 | €24,627 | -€4,074 | €75,948 | - |
| Operating profit (loss)9901 | €17,322 | €28,681 | €28,133 | -€29,923 | -€39,595 | €28,690 | - |
| Financial income75/76B | - | €15 | €9 | €0 | €800 | €0 | ▼ 100% |
| Recurring financial income75 | - | €15 | €9 | €0 | €800 | €0 | ▼ 100% |
| Financial charges65/66B | - | €186 | €139 | €4,484 | €33,196 | €41,958 | ▲ 26.4% |
| Recurring financial charges65 | €481 | €186 | €139 | €4,484 | €33,196 | €41,958 | ▲ 26.4% |
| Profit (loss) for the period before taxes9903 | €16,841 | €28,509 | €28,003 | -€34,407 | -€71,990 | -€13,268 | ▲ 81.6% |
| Income taxes67/77 | €4,855 | €7,255 | €7,355 | €230 | €255 | €262 | ▲ 2.8% |
| Profit (loss) for the period9904 | €11,987 | €21,255 | €20,648 | -€34,637 | -€72,245 | -€13,530 | ▲ 81.3% |
| Profit (loss) for the period to be appropriated9905 | €11,987 | €21,255 | €20,648 | -€34,637 | -€72,245 | -€13,530 | ▲ 81.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €0.1m | €0.1m | €0.1m | €0.6m | €1.1m | €1.2m | ▲ 10.3% |
| Fixed assets21/28 | €0.04m | €0.03m | €0.02m | €0.5m | €1.1m | €1.1m | ▲ 8.2% |
| Tangible fixed assets22/27 | €0.04m | €0.03m | €0.02m | €0.5m | €1.1m | €1.1m | ▲ 7.9% |
| Land and buildings22 | - | - | - | €0.5m | €1.0m | €1.1m | ▲ 7.7% |
| Plant, machinery and equipment23 | - | €0.005m | €0.009m | €0.01m | €0.01m | €0.01m | ▲ 42.7% |
| Furniture and vehicles24 | - | €0.02m | €0.01m | €0.002m | €0.003m | €0.001m | ▼ 46.8% |
| Other tangible fixed assets26 | - | - | - | €0.002m | €0.002m | €0.002m | ▼ 8.6% |
| Financial fixed assets28 | €0.004m | €0.004m | €0.004m | €0.004m | €0 | €0.003m | - |
| Current assets29/58 | €0.07m | €0.08m | €0.1m | €0.07m | €0.04m | €0.06m | ▲ 70.9% |
| Amounts receivable within one year40/41 | €0.04m | €0.02m | €0.05m | €0.06m | €0.03m | €0.05m | ▲ 58.5% |
| Trade receivables40 | - | €0.02m | €0.05m | €0.02m | €0.03m | €0.05m | ▲ 70.2% |
| Other amounts receivable41 | - | €0.001m | €0.005m | €0.04m | €0.004m | €0.003m | ▼ 18.5% |
| Cash at bank and in hand54/58 | €0.02m | €0.06m | €0.05m | €0.02m | €0.004m | €0.01m | ▲ 185% |
| Deferred charges and accrued income490/1 | - | €0.002m | €0.001m | €0.001m | €0.001m | €0.002m | ▲ 7.8% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €0.1m | €0.1m | €0.1m | €0.6m | €1.1m | €1.2m | ▲ 10.3% |
| Equity10/15 | €0.08m | €0.1m | €0.1m | €0.09m | €0.02m | €0.005m | ▼ 72.4% |
| Contributions10/11 | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Reserves13 | €0.08m | €0.1m | €0.1m | €0.09m | €0.02m | €0.004m | ▼ 77.6% |
| Distributable reserves133 | - | €0.1m | €0.1m | €0.09m | €0.02m | €0.004m | ▼ 77.6% |
| Amounts payable17/49 | €0.03m | €0.01m | €0.003m | €0.5m | €1.1m | €1.2m | ▲ 11.8% |
| Amounts payable after more than one year17 | €0.007m | €0.002m | €0 | €0.4m | €1.0m | €1.1m | ▲ 7.2% |
| Financial debts170/4 | - | €0.002m | €0 | €0.4m | €1.0m | €1.1m | ▲ 7.2% |
| Amounts payable within one year42/48 | €0.02m | €0.01m | €0.003m | €0.1m | €0.08m | €0.1m | ▲ 65.6% |
| Current portion of amounts payable after more than one year42 | - | €0.005m | €0.002m | €0 | €0.03m | €0.05m | ▲ 44.6% |
| Trade debts44 | €0.009m | €0.003m | €0.002m | €0.1m | €0.03m | €0.05m | ▲ 60.6% |
| Suppliers440/4 | - | €0.003m | €0.002m | €0.1m | €0.03m | €0.05m | ▲ 60.6% |
| Taxes, remuneration and social security45 | - | €0.004m | €157 | €0.001m | €0.002m | €0.006m | ▲ 269% |
| Taxes450/3 | - | €0.003m | €157 | €0 | €310 | €0.006m | ▲ 19× |
| Remuneration and social security454/9 | - | €0.001m | €0 | €0.001m | €0.001m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €0 | - | - | €0.02m | €0.04m | ▲ 95.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,987 | €21,255 | €20,648 | -€34,637 | -€72,245 | -€13,530 | ▲ 81.3% |
| + Depreciation and write-downs630 | €16,137 | €15,973 | €16,942 | €12,132 | €33,964 | €45,694 | ▲ 34.5% |
| Operating cash flow (approximation) | €28,123 | €37,228 | €37,590 | -€22,506 | -€38,281 | €32,164 | - |
| Investment in fixed assets (approximation) | - | -€5,999 | -€6,372 | -€499,204 | -€580,646 | -€132,128 | ▲ 77.2% |
| Change in cash | - | €34,400 | -€4,621 | -€39,014 | -€10,738 | €7,891 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 912 companies had the same profile as GCM CONSTRUCT has now. Two years later, 95.3% were still going and 2.4% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency under 10%
- a small loss
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GCM CONSTRUCT itself: 1.0% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 912 companies, not a prediction for GCM CONSTRUCT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-08-2026 | 2026-00443635 | |
| 31-12-2024 | micro format | 31-08-2025 | 2025-00457492 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00481440 | |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00402352 | |
| 31-12-2021 | micro format | 08-08-2022 | 2022-20275874 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-42700363 |
Board & ownership
Directors
Owners and capital
Owners
Network & group
GCM CONSTRUCT shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of GCM CONSTRUCT. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
22-10
Gazette deed
Registered office moved within HerentalsNew registered office: Laarstraat 15, 2200 Herentals · Previous registered office: Klein Gent 2/01, 2200 Herentals2 points ▸
- Board meeting, 01-08-2024
- Registered-office move, Laarstraat 15, 2200 Herentals
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0826.821.862
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 13027D0103/00R002 | Flanders | 1,953 m² | 1 · 1,322 m² | 9.6 m |