GCS GROUP
ActiveSummary
The computed 12-month bankruptcy probability of GCS GROUP is 2.3% (moderate). The 2025 annual accounts show equity of €222,885 and a net result of €75,813. Equity is growing by ~52.9% per year across the filed fiscal years. Its solvency ranks better than 27% of 1886 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+7
Solvency46▲+5
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity short (current ratio 0.8 against 0.76 in 2024; short-term debt: 53.7% and cash: 4.9% of total assets), and 78.6% 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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
21.4%
Return on assets
7.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-04-2026, 98 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
98 d early
2024
42 d late
2023
83 d late
2022
70 d late
2021
49 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 29 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 18 September (4 of the last 5 filed years within 35 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€222,885▲ 51.5%
2024 · €147,072
Total assets
€1.0m▲ 13.7%
2024 · €914,287
Net result
€75,813▲ 305%
2024 · €18,715
Working capital
-€111,407▼ 14.4%
2024 · -€97,404
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, 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
Line20212022202320242025
Operating result€37,579-€20,389▼ 45.7%€140,425▲ 589%€70,605▼ 49.7%€126,879▲ 79.7%
Net result€26,022above the sector's middle half-€14,301within the sector's middle half▼ 45.0%€87,879within the sector's middle half▲ 514%€18,715within the sector's middle half▼ 78.7%€75,813within the sector's middle half▲ 305%
Equity€41,022within the sector's middle half-€40,478below the sector's middle half▼ 1.3%€128,357below the sector's middle half▲ 217%€147,072below the sector's middle half▲ 14.6%€222,885within the sector's middle half▲ 51.5%
Total assets€145,211within the sector's middle half-€154,159below the sector's middle half▲ 6.2%€817,856within the sector's middle half▲ 431%€914,287within the sector's middle half▲ 11.8%€1.0mwithin the sector's middle half▲ 13.7%
Debt€104,189-€113,681▲ 9.1%€689,499▲ 507%€767,215▲ 11.3%€816,819▲ 6.5%
Working capital-€11,396below the sector's middle half--€68,078below the sector's middle half▼ 497%-€180,444below the sector's middle half▼ 165%-€97,404below the sector's middle half▲ 46.0%-€111,407below the sector's middle half▼ 14.4%
Solvency28.2%within the sector's middle half-26.3%within the sector's middle half▼ 2.0pp15.7%below the sector's middle half▼ 10.6pp16.1%below the sector's middle half▲ 0.4pp21.4%within the sector's middle half▲ 5.4pp
Current ratio0.84within the sector's middle half-0.40below the sector's middle half▼ 0.430.52below the sector's middle half▲ 0.120.76below the sector's middle half▲ 0.230.80below the sector's middle half▲ 0.04
Return on assets (ROA)17.9%within the sector's middle half-9.3%within the sector's middle half▼ 8.6pp10.7%above the sector's middle half▲ 1.5pp2.0%within the sector's middle half▼ 8.7pp7.3%within the sector's middle half▲ 5.2pp
Staff (FTE)0.3-6.5within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 80% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€592,315 ▼ 2.3%
Current assets
€447,390 ▲ 45.3%
Equity and liabilities €1.0m
Equity
€222,885 ▲ 51.5%
Debt
€816,819 ▲ 6.5%
Debt's share of the balance-sheet total falls from 83.9% to 78.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€316,942▲
2024 · €216,529
Cash flow
€265,875▲
2024 · €164,639
Debt to equity
3.66▼
2024 · 5.22
ROE
34.0%▲
2024 · 12.7%
Interest coverage
14.00▲
2024 · 9.43
Debt ≤ 1 year
€558,797▲
2024 · €405,367
Debt > 1 year
€258,022▼
2024 · €361,848
Income taxes
€28,428▼
2024 · €28,955
Staff costs
€645,907▲
2024 · €378,378
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,684 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.3%
went bankrupt
1.2%
stopped otherwise
97%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.3% 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 497,338 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% | 1.9% |
| 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 2,684 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €13,466 | €14,595 | €150,417 | €378,378 | €645,907 | ▲ 70.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,293 | €18,290 | €87,175 | €145,924 | €190,062 | ▲ 30.2% |
| Other operating charges640/8 | €4,151 | €19,268 | €6,264 | €10,846 | €30,078 | ▲ 177% |
| Gross operating margin9900 | €81,488 | €72,542 | €384,281 | €605,753 | €992,926 | ▲ 63.9% |
| Operating profit (loss)9901 | €37,579 | €20,389 | €140,425 | €70,605 | €126,879 | ▲ 79.7% |
| Financial income75/76B | €4 | €6 | - | €26 | - | - |
| Recurring financial income75 | €4 | €6 | - | €26 | - | - |
| Financial charges65/66B | €3,883 | €6,094 | €19,445 | €22,960 | €22,638 | ▼ 1.4% |
| Recurring financial charges65 | €3,883 | €6,094 | €19,445 | €22,960 | €22,638 | ▼ 1.4% |
| Profit (loss) for the period before taxes9903 | €33,700 | €14,301 | €120,980 | €47,671 | €104,241 | ▲ 119% |
| Income taxes67/77 | €7,679 | €0 | €33,101 | €28,955 | €28,428 | ▼ 1.8% |
| Profit (loss) for the period9904 | €26,022 | €14,301 | €87,879 | €18,715 | €75,813 | ▲ 305% |
| Profit (loss) for the period to be appropriated9905 | €26,022 | €14,301 | €87,879 | €18,715 | €75,813 | ▲ 305% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €145,211 | €154,159 | €817,856 | €914,287 | €1.0m | ▲ 13.7% |
| Fixed assets21/28 | €87,347 | €108,556 | €618,484 | €606,323 | €592,315 | ▼ 2.3% |
| Tangible fixed assets22/27 | €87,347 | €108,556 | €618,484 | €606,323 | €592,315 | ▼ 2.3% |
| Plant, machinery and equipment23 | - | - | €517 | €723 | €326 | ▼ 54.9% |
| Furniture and vehicles24 | €48,653 | €69,863 | €377,101 | €235,894 | €173,384 | ▼ 26.5% |
| Leasing and similar rights25 | €38,693 | €38,693 | €240,866 | €369,706 | €418,604 | ▲ 13.2% |
| Current assets29/58 | €57,864 | €45,603 | €199,371 | €307,963 | €447,390 | ▲ 45.3% |
| Amounts receivable within one year40/41 | €57,831 | €39,459 | €154,201 | €266,386 | €396,082 | ▲ 48.7% |
| Trade receivables40 | €51,362 | €17,869 | €102,690 | €219,828 | €383,869 | ▲ 74.6% |
| Other amounts receivable41 | €6,468 | €21,590 | €51,511 | €46,558 | €12,213 | ▼ 73.8% |
| Cash at bank and in hand54/58 | €34 | €6,144 | €45,170 | €41,577 | €51,307 | ▲ 23.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €145,211 | €154,159 | €817,856 | €914,287 | €1.0m | ▲ 13.7% |
| Equity10/15 | €41,022 | €40,478 | €128,357 | €147,072 | €222,885 | ▲ 51.5% |
| Contributions10/11 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Capital10 | €15,000 | - | - | - | - | - |
| Issued capital100 | €15,000 | - | - | - | - | - |
| Outside capital11 | - | €15,000 | - | - | - | - |
| Other1109/19 | - | €15,000 | - | - | - | - |
| Reserves13 | €26,022 | €25,478 | €113,900 | €132,616 | €132,616 | = |
| Non-distributable reserves130/1 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Legal reserve130 | €1,500 | €1,500 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,500 | €1,500 | €1,500 | = |
| Distributable reserves133 | €24,522 | €23,978 | €112,400 | €131,116 | €131,116 | = |
| Profit (loss) carried forward14 | - | - | -€544 | -€544 | €75,270 | ▲ 13,944% |
| Amounts payable17/49 | €104,189 | €113,681 | €689,499 | €767,215 | €816,819 | ▲ 6.5% |
| Amounts payable after more than one year17 | €34,929 | - | €309,684 | €361,848 | €258,022 | ▼ 28.7% |
| Financial debts170/4 | €34,929 | - | €309,684 | €361,848 | €258,022 | ▼ 28.7% |
| Amounts payable within one year42/48 | €69,261 | €113,681 | €379,815 | €405,367 | €558,797 | ▲ 37.8% |
| Current portion of amounts payable after more than one year42 | €22,701 | - | €68,426 | €183,962 | €251,749 | ▲ 36.8% |
| Trade debts44 | €25,597 | €13,971 | €77,449 | €66,374 | €120,317 | ▲ 81.3% |
| Suppliers440/4 | €25,597 | €13,971 | €77,449 | €66,374 | €120,317 | ▲ 81.3% |
| Advances received on contracts in progress46 | - | - | - | - | €33,500 | - |
| Taxes, remuneration and social security45 | €14,548 | €5,948 | €51,767 | €116,053 | €127,596 | ▲ 9.9% |
| Taxes450/3 | €13,660 | €5,948 | €26,433 | €40,748 | €42,157 | ▲ 3.5% |
| Remuneration and social security454/9 | €888 | - | €25,334 | €75,306 | €85,439 | ▲ 13.5% |
| Other amounts payable47/48 | €6,415 | €93,762 | €182,173 | €38,978 | €25,634 | ▼ 34.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,022 | €14,301 | €87,879 | €18,715 | €75,813 | ▲ 305% |
| + Depreciation and write-downs630 | €26,293 | €18,290 | €87,175 | €145,924 | €190,062 | ▲ 30.2% |
| Operating cash flow (approximation) | €52,314 | €32,591 | €175,054 | €164,639 | €265,875 | ▲ 61.5% |
| Investment in fixed assets (approximation) | - | -€39,500 | -€597,104 | -€133,763 | -€176,054 | ▼ 31.6% |
| Change in cash | - | €6,110 | €39,026 | -€3,593 | €9,730 | ▲ 371% |
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
Next filing, fiscal year 2026, expected by
2026
04-08
State Gazette act
Resignation: MAYA MÜRSEL (director)Appointment: SARIER CELAL (énig bestuurder) · Share transfer · Shareholding6 facts ▸
State Gazette act
Resignation: MAYA MÜRSEL (director)
Appointment: SARIER CELAL (énig bestuurder) · Share transfer · Shareholding6 facts ▸
- General meeting, 20-07-2026
- Share transfer, MAYA MÜRSEL → SARIER CELAL
- Shareholding, 20-07-2026, 0
- Director resignation, MAYA MÜRSEL (director)
- Director discharge, MAYA MÜRSEL (director)
- Director appointment, SARIER CELAL (énig bestuurder)
24-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €200,000Eq €222,885 ▲51.5%
5 profitable years in a row build equity to €222,885.
11-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 42 days late
2024
22-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 83 days late
30-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 70 days late
2023
31-12
Financial
Highest result since 2021net €87,879 ▲514%
Operating result €140,425, net result €87,879, both a record.
31-12
Financial
Equity above €100,000Eq €128,357 ▲217%
3 profitable years in a row build equity to €128,357.
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
31-12
Financial
Weakest financial yearnet €14,301 ▼45%
Net result drops to €14,301, the lowest in the series; recovery starts the following year.
18-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 49 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
SARIER CELAL
CurrentÉnig bestuurder · since 20-07-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 2020
Ground area
300 m²
Building footprint
72 m²
Volume, LiDAR
406 m³
Parcel 44074B0567/00K011, Flanders · tallest building 9.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GCS GROUP
since 20202.298.556.243
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44074B0567/00K011 | Flanders | 300 m² | 1 · 72 m² | 9.1 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.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| SARIER CELAL |
|
| MAYA MÜRSEL |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Capital and shareholders
Shareholders according to the acts
Stated in the act
act of 04-08-2026 ↗
Share transfer
act of 04-08-2026 ↗
- MAYA MÜRSEL to SARIER CELAL 10 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 3,000 EUR awarded · 3,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 3,000 EUR | 3,000 EUR |
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Of 12,583 companies in sector 49410 we hold annual accounts for 8,204. 6,118 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
Founded28-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
81210General cleaning of buildings
81220Other building cleaning and industrial cleaning
Contact
E-mail
gcsgroupnv@hotmail.com
Phone
+32489861025
E-invoicing
Reachable via Peppol
Peppol ID
0208:0742591121
Also
9925:BE0742591121
Registered
07-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.