GDM
ActiveSummary
GDM has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €187,112 and a net result of -€2,807. Equity has been shrinking by about 3.5% per year since 2019. Its solvency ranks better than 21% of 9,883 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-09-2008 Normal situation
- Activity
- Other specialised construction activities NACE 43990
- Establishment unit
- 2.174.240.449 9280 Lebbeke, since 01-10-2008
- Financial year end
- 30 June
- Peppol
- Reachable since 22-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €57,072
- ▲ 387%
- Turnover
- ≈ €300,000
- estimated
- Loss
- €2,807
- ▼ 97.4%
- Equity
- €187,112
- ▼ 1.5%
- Total assets
- €946,001
- ▼ 3.7%
Score breakdownraises riskSector: Specialised construction activities (NACE 43)lowers riskSize: total assets €946,001Founded in 2008Figures for financial year 2025 (filed on 08-01-2026)Show the evidence
Checked score
About 3 in 1,000 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 43, micro). It does better than 21% of them on solvency, 15% on liquidity, 23% on profitability and 32% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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 7 accounts on average 33 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 07-01-2026 PDF all 17 filings
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is a profit of €10,581, after a loss of €120,168 in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €67,872 | - | - | - |
| Depreciation and write-downs of the year | €38,680 | €42,720 | €39,225 | €38,922 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as GDM: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €799,000 and €1.3m, founded between 2004 and 2010.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| GDM Lebbeke | 2008 | €0.9m | €0.2m | €0.06m | -€0.003m | - | 2025 |
| M&M PROJECTS Wavre | 2008 | €0.8m | €0.6m | €0.06m | €0.05m | - | 2025 |
| ZIMCONSTRUCT Ukkel | 2010 | €0.9m | €0.2m | €0.06m | €0.02m | - | 2025 |
| Les Frères Piscine Chaudfontaine | 2006 | €1.0m | €0.5m | €0.07m | €0.009m | - | 2024 |
| CRISTIAN RENOV TOUT Anderlecht | 2008 | €0.8m | €0.4m | €0.07m | €0.004m | - | 2025 |
| Greenson Merelbeke-Melle | 2009 | €0.8m | €0.6m | €0.08m | €0.02m | 0.3 | 2025 |
| R.dc Aalter | 2004 | €1.3m | €0.7m | €0.05m | €0.02m | 0 | 2025 |
They were chosen from the 7,010 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 1,423 companies had the same profile as GDM has now. Two years later, 1.0% had gone bankrupt and 96.5% were still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GDM itself: 0.3% 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 1,423 companies, not a prediction for GDM. 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €40,807 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,813 | €26,967 | €37,737 | €38,680 | €42,720 | €39,225 | €38,922 | ▼ 0.8% |
| Other operating charges640/8 | - | - | - | - | - | €92,668 | €7,570 | ▼ 91.8% |
| Gross operating margin9900 | €58,939 | €476,048 | €81,888 | €73,548 | €69,513 | €11,725 | €57,072 | ▲ 387% |
| Operating profit (loss)9901 | €20,126 | €449,081 | €2,699 | -€5,938 | €26,793 | -€120,168 | €10,581 | - |
| Financial charges65/66B | - | - | - | €15,987 | €14,590 | €13,405 | €13,388 | ▼ 0.1% |
| Recurring financial charges65 | €6,698 | €5,888 | €5,031 | €15,987 | €14,590 | €13,405 | €13,388 | ▼ 0.1% |
| Profit (loss) for the period before taxes9903 | €13,428 | €443,193 | -€2,332 | -€21,925 | €12,203 | -€133,573 | -€2,807 | ▲ 97.9% |
| Transfer from deferred taxes780 | - | - | - | €3,810 | - | €71,258 | - | - |
| Income taxes67/77 | €43 | €18,303 | €10,259 | - | €3,065 | €45,909 | - | - |
| Profit (loss) for the period9904 | €13,385 | €341,753 | -€8,483 | -€18,115 | €9,138 | -€108,224 | -€2,807 | ▲ 97.4% |
| Transfer from tax-exempt reserves789 | - | - | - | €11,430 | - | €207,577 | - | - |
| Profit (loss) for the period to be appropriated9905 | €13,385 | €98,864 | €3,519 | -€6,685 | €9,138 | €99,353 | -€2,807 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €1.1m | €1.2m | €1.2m | €1.2m | €1.0m | €0.9m | ▼ 3.7% |
| Fixed assets21/28 | €0.6m | €0.5m | €0.7m | €0.7m | €0.7m | €0.6m | €0.5m | ▼ 6.8% |
| Tangible fixed assets22/27 | €0.6m | €0.5m | €0.7m | €0.7m | €0.7m | €0.6m | €0.5m | ▼ 6.8% |
| Land and buildings22 | - | - | - | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 6.2% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.007m | €0.003m | - | - |
| Current assets29/58 | €0.2m | €0.7m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▲ 0.7% |
| Stocks and contracts in progress3 | €489 | - | - | €0.01m | €0.04m | €0.01m | €0.01m | = |
| Stocks30/36 | - | - | - | €0.01m | €0.04m | €0.01m | €0.01m | = |
| Amounts receivable within one year40/41 | €0.2m | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▲ 2.0% |
| Trade receivables40 | - | - | - | €0.2m | €0.2m | €0.06m | €0.08m | ▲ 20.9% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 1.9% |
| Cash at bank and in hand54/58 | €0.02m | €0.1m | €0.01m | €0.008m | €0.008m | €0.03m | €0.03m | ▼ 13.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | - | €0.001m | €239 | ▼ 73.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €1.1m | €1.2m | €1.2m | €1.2m | €1.0m | €0.9m | ▼ 3.7% |
| Equity10/15 | -€0.01m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 1.5% |
| Contributions10/11 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 1.5% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.2m | €0.2m | - | - | - |
| Distributable reserves133 | - | - | - | €0.08m | €0.08m | €0.2m | €0.2m | ▼ 1.5% |
| Profit (loss) carried forward14 | -€0.02m | - | - | -€0.007m | - | - | - | - |
| Provisions and deferred taxes16 | - | €0.08m | €0.08m | €0.08m | €0.07m | - | - | - |
| Deferred taxes168 | - | - | - | €0.08m | €0.07m | - | - | - |
| Amounts payable17/49 | €0.8m | €0.7m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 4.2% |
| Amounts payable after more than one year17 | €0.3m | €0.2m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 11.2% |
| Financial debts170/4 | - | - | - | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 11.2% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 0.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 2.1% |
| Trade debts44 | €0.02m | €0.009m | €0.003m | €0.02m | €0.01m | €0.02m | €0.01m | ▼ 28.7% |
| Suppliers440/4 | - | - | - | €0.02m | €0.01m | €0.02m | €0.01m | ▼ 28.7% |
| Taxes, remuneration and social security45 | - | - | - | - | €0.005m | €0.05m | €0.003m | ▼ 93.0% |
| Taxes450/3 | - | - | - | - | €0.005m | €0.05m | €0.003m | ▼ 93.0% |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 11.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.005m | €0.001m | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,385 | €341,753 | -€8,483 | -€18,115 | €9,138 | -€108,224 | -€2,807 | ▲ 97.4% |
| + Depreciation and write-downs630 | €38,813 | €26,967 | €37,737 | €38,680 | €42,720 | €39,225 | €38,922 | ▼ 0.8% |
| Operating cash flow (approximation) | €52,198 | €368,720 | €29,254 | €20,565 | €51,858 | -€68,999 | €36,115 | - |
| Investment in fixed assets (approximation) | - | €81,338 | -€242,624 | -€67,872 | €0 | €39,850 | €0 | ▼ 100% |
| Change in cash | - | €93,931 | -€96,413 | -€6,478 | -€836 | €22,851 | -€4,026 | - |
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 |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 07-01-2026 | 2026-00003585 | |
| 30-06-2024 | abbreviated format | 23-12-2024 | 2024-00626299 | |
| 30-06-2023 | abbreviated format | 14-12-2023 | 2023-00527699 | |
| 30-06-2022 | abbreviated format | 20-01-2023 | 2023-00000797 | |
| 30-06-2021 | micro format | 22-12-2021 | 2021-81100041 | |
| 30-06-2020 | abbreviated format | 06-01-2021 | 2021-00400205 | |
| 30-06-2019 | abbreviated format | 16-12-2019 | 2019-76600172 | |
| 30-06-2018 | abbreviated format | 20-12-2018 | 2018-75500587 | |
| 30-06-2017 | abbreviated format | 20-12-2017 | 2017-72500601 | |
| 30-06-2016 | abbreviated format | 09-01-2017 | 2017-00700256 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 25-01-2024 Converted to unavailable equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Wim Achtergael |
|
| Ann-Gaëlle Ceulemans |
|
| Micheline Vastenavondt |
|
Network & group
GDM shares no director with another company.
Companies at the same address
4 other companiesConnections & network
2 current directorsThe network starts from the directors of GDM. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
25-01
Gazette deed
Change of role: Wim Achtergael, from statutair zaakvoerder to directorReappointment: Wim Achtergael (statutair bestuurder) · Appointment: Ann-Gaëlle Ceulemans (director) · Capital conversion12 points ▸
- General meeting, 16-01-2024
- Other provision, “aanpassing statuten aan WVV en behoud rechtsvorm BV, statuten aanpassen” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “opheffing, statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Director resignation, Wim Achtergael (statutair zaakvoerder)
- Director reappointment, Wim Achtergael (statutair bestuurder)
- Director appointment, Wim Achtergael (director)
- Director appointment, Ann-Gaëlle Ceulemans (director)
- Amendment of the articles
- Capital
- Other provision, “statutair onbeschikbare eigen vermogensrekening, Nihil” (deed in Dutch)
- Registered office clause, “Poelstraat 50,9280 Lebbeke” (deed in Dutch)
09-12
Gazette deed
Registered office moved from Koksijde to LebbekeResignation: Micheline Vastenavondt (director) · Appointment: Achtergael Wim (director) · Permanent representative: Toon Huybrechts5 points ▸
- General meeting, 17-10-2022
- Director resignation, Micheline Vastenavondt (director)
- Director appointment, Achtergael Wim (director)
- Registered-office move, Poelstraat 50 te 9280 Lebbeke
- Permanent representative, Toon Huybrechts
Show earlier events
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
15 activities
- Alle timmerwerk en schrijnwerk (zowel hout,kunststof of andere materialen);
- Het aannemen en uitvoeren van alle werken in rechtstreeks of onrechtstreeks verband met schrijnwerk,timmerwerk en bouwafwerking,zowel binnen- als buitenafwerking en het verrichten van alle handelingen welke hiermede in verband staan zowel voor nieuwbouw als voor renovatie met inbegrip van: De installatie van al dan niet verplaatsbare tussenwanden,de bekleding van wanden,plafonds enzovoort; De installatie van garagepoorten,luiken,zonneblinden,traliewerk,enzovoort; De installatie van geblindeerde deuren en brandwerende deuren.
- Algemene bouwonderneming;
- Aannemersbedrijf voor het dichtmaken,uitvoering van dakbedekking en metalen van gebouwen;
- Het leggen van parketvloeren en het plaatsen van alle houten wand- en vloerbekledingen;
- De montage van serres,veranda's,enzovoort;
- Groot-en kleinhandel in decoratiemateriaal;
- Algemene coördinatie werkzaamheden;
- Binnenhuisactiviteiten;
- Isolatiewerken en aanbrengen van chape;
- Reinigen van gebouwen;
- Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het oordeelkundige beheer,uitbreiding,verfraaiing,transformatie van een eigen onroerend en roerend patrimonium zoals: Onroerende goederen en/of zakelijke rechten op onroerende goederen verwerven,laten bouwen,verbouwen,laten opschikken,laten uitrusten,ombouwen,verfraaien,in huur geven of nemen,in leasing geven of nemen,verkavelen,onderhouden,ontwikkelen en uitbaten,urbaniseren,vervreemden en ruilen met het oog op beheer,wederbelegging en opbrengst; zowel voor eigen rekening als voor rekening van derden in de ruimste zin; Beschikbare middelen beleggen in alle roerende goederen en waarden,een portefeuille van waarden beheren,en dienaangaande aankopen en verkopen verrichten.
- Deelnemen door inschrijving,inbreng,fusie,opslorping,samenwerking,financiële tussenkomst of afspraak in alle andere Belgische of buitenlandse vennootschappen,instellingen of ondernemingen,zonder onderscheid,ongeacht of zij opgericht zijn of nog moeten opgericht worden,wier maatschappelijk voorwerp gelijk,verwant,verknocht of analoog is of waarvan deelname of samenwerking kan bijdragen tot verwezenlijking voorwerp.
- Zich ten gunste van dezelfde vennootschappen borg stellen of aval verlenen,optreden als agent,vertegenwoordiger,voorschotten toestaan,krediet verlenen,hypothecaire en andere zekerheden verstrekken.
- De functie van voorzitter,zaakvoerder,bestuurder,commissaris of vereffenaar in een andere vennootschap uitoefenen,zo zij aan de voorwaarden daartoe voldoet.
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 0806.666.450
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 |
|---|---|---|---|---|
| 42011B1201/00A002 | Flanders | 2,195 m² | 1 · 189 m² | 8.4 m · 2 |