GCS

Inactive

KBO/BCE: BE 0860.636.656

GCS was declared bankrupt on 17-11-2022 (Ondernemingsrechtbank Antwerpen, afdeling Antwerpen); the bankruptcy was closed for insufficient assets by judgment of 07-01-2025, published in the Belgian State Gazette on 31-01-2025.

Summary

Inactive; last annual accounts for fiscal year 2021.

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Signals

Three signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Prior bankruptcy

Earlier bankruptcy on record in the Belgian State Gazette, no current open procedure.

Belgian State Gazette

Two or more financial years not filed

Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.

NBB · 10 filings

Position against the passed deadline

31-12-2022 close31-07-2023 deadline24-09-2026 today

Latest accounts filed on time

The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 18-07-2022, 13 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

not filed

2023

not filed

2022

not filed

2021

13 d early

2020

2 d early

2019

17 d early

← before the deadline after the deadline →

Checked, nothing found (1)

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2021, micro schema

Equity

€84k▼ 24.2%

2020 · €111k

2018: €88k 2019: €123k 2020: €111k

2018 → 2021

Total assets

€509k▼ 5.3%

2020 · €538k

2018: €590k 2019: €565k 2020: €538k

2018 → 2021

Net result

€-27k▼ 120%

2020 · €-12k

2018: €2k 2019: €35k 2020: €-12k

2018 → 2021

Working capital

€-78k▼ 67.5%

2020 · €-46k

2018: €-40k 2019: €-45k 2020: €-46k

2018 → 2021

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2018201920202021Trend

Equity€88k-€123k▲ 39.8%€111k▼ 9.9%€84k▼ 24.2%

Operating result€18k-€71k▲ 300%€2k▼ 97.2%€-18k

Net result€2k-€35k▲ 1,403%€-12k€-27k▼ 120%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2021: a loss of €18k after €2k in 2020, the lowest result in the available series.

Balance-sheet composition

2021 in colour, 2020 as the grey bar beneath

Assets €509k

90.0%

10%

Fixed assets €458k ▼ 6.2%

Current assets €51k ▲ 3.5%

Equity and liabilities €509k

16.5%

83.5%

Equity €84k ▼ 24.2%

Debt €425k ▼ 0.4%

Debt's share of the balance-sheet total rises from 79.4% to 83.5%. Equity and debt are lower.

Key figures and ratios

2021 value · change against 2020

EBITDA

€13k▼

2020 · €32k

Cash flow

€5k▼

2020 · €18k

Current ratio

0.40▼

2020 · 0.51

Debt to equity

5.05▲

2020 · 2.98

ROE

-32.0%▼

2020 · -11.0%

ROA

-5.3%▼

2020 · -2.3%

Interest coverage

1.36

Debt ≤ 1 year

€128k▲

2020 · €95k

Debt > 1 year

€296k▼

2020 · €331k

Income taxes

€-499▼

2020 · €3k

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Filed annual accounts As filed with the NBB · 2021 against 2020 · 50 lines

Balance sheet Code20202021

Assets

Total assets20/58€538k€509k▼

Fixed assets21/28€489k€458k▼

Tangible fixed assets22/27€484k€454k▼

Land and buildings22-€366k

Plant, machinery and equipment23-€494

Furniture and vehicles24-€19k

Other tangible fixed assets26-€69k

Financial fixed assets28€4k€4k=

Current assets29/58€49k€51k▲

Amounts receivable within one year40/41€28k€30k▲

Trade receivables40-€1k

Other amounts receivable41-€29k

Current investments50/53€14k€20k▲

Cash at bank and in hand54/58€3k-

Deferred charges and accrued income490/1-€1k

Equity and liabilities

Total equity and liabilities10/49€538k€509k▼

Equity10/15€111k€84k▼

Contributions10/11-€19k

Reserves13€92k€66k▼

Non-distributable reserves130/1-€2k

Reserves not available under the articles1311-€2k

Distributable reserves133-€64k

Amounts payable17/49€427k€425k▼

Amounts payable after more than one year17€331k€296k▼

Financial debts170/4-€296k

Amounts payable within one year42/48€95k€128k▲

Current portion of amounts payable after more than one year42-€39k

Financial debts43-€2k

Credit institutions430/8-€2k

Trade debts44€34k€31k▼

Suppliers440/4-€31k

Taxes, remuneration and social security45-€20k

Taxes450/3-€15k

Remuneration and social security454/9-€4k

Other amounts payable47/48-€37k

Accrued charges and deferred income492/3-€610

Income statement Code20202021

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30k€32k▲

Other operating charges640/8-€5k

Gross operating margin9900€40k€18k▼

Operating profit (loss)9901€2k€-18k▼

Financial income75/76B-€929

Recurring financial income75€301€929▲

Financial charges65/66B-€10k

Recurring financial charges65€11k€10k▼

Profit (loss) for the period before taxes9903€-9k€-27k▼

Income taxes67/77€3k€-499▼

Profit (loss) for the period9904€-12k€-27k▼

Profit (loss) for the period to be appropriated9905€-12k€-27k▼

Appropriation of the result

Profit (loss) to be appropriated9906-€-27k

Transfer from equity791/2-€27k

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 15Signals 2Financial 3Filings 10

2025

31-01

Bankruptcy Bankruptcy closure (insufficient assets)

Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · GCS BV WIJNEGEMBAAN 11, 2520 RANST · event 07-01-2025

2022

23-11

Bankruptcy Opening

Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · GCS BV WIJNEGEMBAAN 11, 2520 RANST · event 17-11-2022

18-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Weakest financial yearnet €-27k

Net result drops to €-27k, the lowest in the series.

29-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

14-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

31-12

Financial Highest result since 2018net €35k ▲1403%

Operating result €71k, net result €35k, both a record.

31-12

Financial Equity above €100kEq €123k ▲39.8%

2 profitable years in a row build equity to €123k.

15-07

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

31-08

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 31 days late

2017

28-08

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 28 days late

2016

14-07

NBB filing Annual accounts filed

fiscal year 2015 · abbreviated schema

Show earlier events

2015

29-06

NBB filing Annual accounts filed

fiscal year 2014 · abbreviated schema

2014

15-07

NBB filing Annual accounts filed

fiscal year 2013 · abbreviated schema

2013

27-06

NBB filing Annual accounts filed

fiscal year 2012 · abbreviated schema

SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

3 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

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.

Insolvency mandates

1 mandate

Role	Name	Tenure
Curator	GUY VANHOUCKE ANSELMOSTRAAT 2, 2018 ANTWERPEN 1 ↔ Also on 105 other cases	17-11-2022 → 07-01-2025