GDS
ActiveSummary
GDS has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28,003 and a net result of -€8,741. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 34% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability53▼-21
Solvency58▼-10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity tight (current ratio 1.21 against 1.32 in 2024; short-term debt: 49.5% and cash: 25.8% of total assets), and 67.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
32.7%
Return on assets
-10.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
2 d early
2023
27 d late
2022
58 d late
2021
23 d late
2020
31 d late
2019
17 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 22 days after 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 (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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
In the rankings
#3 oldest company in Boom, Construction sector
Equity
€28,003▼ 23.8%
2024 · €36,744
Total assets
€85,759=
2024 · €85,780
Net result
-€8,741
2024 · €3,729
Working capital
€8,999▲ 4.2%
2024 · €8,638
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
Line20212022202320242025
Operating result€1,770▼ 88.0%-€4,516€54,640€7,804▼ 85.7%-€8,107
Net result-€1,836below the sector's middle half-€6,380below the sector's middle half▼ 248%€41,003above the sector's middle half€3,729within the sector's middle half▼ 90.9%-€8,741below the sector's middle half
Equity-€1,607below the sector's middle half-€7,988below the sector's middle half▼ 397%€33,015within the sector's middle half€36,744within the sector's middle half▲ 11.3%€28,003within the sector's middle half▼ 23.8%
Total assets€129,294within the sector's middle half▲ 5.9%€139,331within the sector's middle half▲ 7.8%€56,572below the sector's middle half▼ 59.4%€85,780within the sector's middle half▲ 51.6%€85,759within the sector's middle half=
Debt€130,866▲ 7.6%€147,319▲ 12.6%€23,557▼ 84.0%€49,036▲ 108%€57,756▲ 17.8%
Working capital€3,360▼ 57.4%-€14,375€22,863€8,638▼ 62.2%€8,999▲ 4.2%
Solvency-1.2%below the sector's middle half▼ 1.4pp-5.7%below the sector's middle half▼ 4.5pp58.4%within the sector's middle half▲ 64.1pp42.8%within the sector's middle half▼ 15.5pp32.7%within the sector's middle half▼ 10.2pp
Staff (FTE)0.8
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 turns negative in 2025: a loss of €8,107 after €7,804 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €85,759
Fixed assets
€34,287 ▼ 32.2%
Current assets
€51,472 ▲ 46.1%
Equity and liabilities €85,759
Equity
€28,003 ▼ 23.8%
Debt
€57,756 ▲ 17.8%
Debt's share of the balance-sheet total rises from 57.2% to 67.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€5,148▼
2024 · €23,761
Cash flow
€4,514▼
2024 · €19,686
Current ratio
1.21▼
2024 · 1.32
Debt to equity
2.06▲
2024 · 1.33
ROE
-31.2%▼
2024 · 10.1%
ROA
-10.2%▼
2024 · 4.3%
Interest coverage
5.58▼
2024 · 10.02
Debt ≤ 1 year
€42,473▲
2024 · €26,596
Debt > 1 year
€15,283▼
2024 · €22,440
Income taxes
€231▼
2024 · €2,056
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,827 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.5%
went bankrupt
14%
stopped otherwise
84%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 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 5,827 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,203 | - |
| Remuneration, social security and pensions62 | €37,041 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,059 | €26,059 | €5,698 | €15,957 | €13,255 | ▼ 16.9% |
| Other operating charges640/8 | €1,110 | €1,138 | €2,989 | €1,562 | €1,767 | ▲ 13.1% |
| Gross operating margin9900 | €65,980 | €22,681 | €63,327 | €25,324 | €6,915 | ▼ 72.7% |
| Operating profit (loss)9901 | €1,770 | -€4,516 | €54,640 | €7,804 | -€8,107 | ▼ 204% |
| Financial income75/76B | €931 | €1,337 | €287 | €352 | €520 | ▲ 47.6% |
| Recurring financial income75 | €931 | €1,337 | €287 | €352 | €520 | ▲ 47.6% |
| Financial charges65/66B | €4,817 | €3,236 | €1,803 | €2,372 | €923 | ▼ 61.1% |
| Recurring financial charges65 | €4,817 | €3,236 | €1,803 | €2,372 | €923 | ▼ 61.1% |
| Profit (loss) for the period before taxes9903 | -€2,116 | -€6,415 | €53,124 | €5,784 | -€8,510 | ▼ 247% |
| Transfer from deferred taxes780 | €280 | €35 | - | - | - | - |
| Income taxes67/77 | - | - | €12,121 | €2,056 | €231 | ▼ 88.8% |
| Profit (loss) for the period9904 | -€1,836 | -€6,380 | €41,003 | €3,729 | -€8,741 | ▼ 334% |
| Transfer from tax-exempt reserves789 | €1,092 | €103 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€744 | -€6,277 | €41,003 | €3,729 | -€8,741 | ▼ 334% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €129,294 | €139,331 | €56,572 | €85,780 | €85,759 | = |
| Fixed assets21/28 | €38,217 | €19,588 | €14,580 | €50,546 | €34,287 | ▼ 32.2% |
| Tangible fixed assets22/27 | €38,217 | €12,158 | €13,380 | €49,346 | €33,087 | ▼ 32.9% |
| Plant, machinery and equipment23 | €484 | - | - | €4,271 | €3,235 | ▼ 24.3% |
| Furniture and vehicles24 | €17,013 | €12,158 | €13,380 | €45,074 | €29,852 | ▼ 33.8% |
| Leasing and similar rights25 | €20,720 | - | - | - | - | - |
| Financial fixed assets28 | - | €7,430 | €1,200 | €1,200 | €1,200 | = |
| Current assets29/58 | €91,077 | €119,743 | €41,992 | €35,234 | €51,472 | ▲ 46.1% |
| Amounts receivable after more than one year29 | €2,000 | €2,000 | - | - | - | - |
| Other amounts receivable291 | €2,000 | €2,000 | - | - | - | - |
| Stocks and contracts in progress3 | - | €67,057 | - | - | - | - |
| Contracts in progress37 | - | €67,057 | - | - | - | - |
| Amounts receivable within one year40/41 | €58,656 | €26,340 | €23,167 | €15,888 | €25,789 | ▲ 62.3% |
| Trade receivables40 | €27,158 | €1,242 | €7,686 | €1,904 | €1,185 | ▼ 37.8% |
| Other amounts receivable41 | €31,498 | €25,097 | €15,480 | €13,984 | €24,603 | ▲ 75.9% |
| Cash at bank and in hand54/58 | €26,386 | €19,963 | €14,360 | €14,801 | €22,108 | ▲ 49.4% |
| Deferred charges and accrued income490/1 | €4,035 | €4,384 | €4,465 | €4,545 | €3,575 | ▼ 21.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €129,294 | €139,331 | €56,572 | €85,780 | €85,759 | = |
| Equity10/15 | -€1,607 | -€7,988 | €33,015 | €36,744 | €28,003 | ▼ 23.8% |
| Contributions10/11 | €19,564 | €19,564 | €19,564 | €19,564 | €19,564 | = |
| Reserves13 | €18,519 | €1,860 | €13,452 | €17,180 | €17,180 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | €103 | - | - | - | - | - |
| Distributable reserves133 | €16,556 | - | €13,452 | €17,180 | €17,180 | = |
| Profit (loss) carried forward14 | -€39,690 | -€29,411 | - | - | -€8,741 | - |
| Provisions and deferred taxes16 | €35 | - | - | - | - | - |
| Deferred taxes168 | €35 | - | - | - | - | - |
| Amounts payable17/49 | €130,866 | €147,319 | €23,557 | €49,036 | €57,756 | ▲ 17.8% |
| Amounts payable after more than one year17 | €43,149 | €13,201 | €4,428 | €22,440 | €15,283 | ▼ 31.9% |
| Financial debts170/4 | €43,149 | €13,201 | €4,428 | €22,440 | €15,283 | ▼ 31.9% |
| Amounts payable within one year42/48 | €87,717 | €134,118 | €19,129 | €26,596 | €42,473 | ▲ 59.7% |
| Current portion of amounts payable after more than one year42 | €28,474 | €29,949 | €4,743 | €10,617 | €8,042 | ▼ 24.3% |
| Trade debts44 | €59,243 | €39,639 | €14,386 | €13,953 | €32,405 | ▲ 132% |
| Suppliers440/4 | €59,243 | €39,639 | €14,386 | €13,953 | €32,405 | ▲ 132% |
| Advances received on contracts in progress46 | - | €64,531 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,026 | €2,026 | = |
| Taxes450/3 | - | - | - | €2,026 | €2,026 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,836 | -€6,380 | €41,003 | €3,729 | -€8,741 | ▼ 334% |
| + Depreciation and write-downs630 | €26,059 | €26,059 | €5,698 | €15,957 | €13,255 | ▼ 16.9% |
| Operating cash flow (approximation) | €24,224 | €19,679 | €46,701 | €19,686 | €4,514 | ▼ 77.1% |
| Investment in fixed assets (approximation) | - | -€7,430 | -€691 | -€51,922 | €3,004 | ▲ 106% |
| Change in cash | - | -€6,423 | -€5,602 | €441 | €7,306 | ▲ 1,557% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
31-12
Financial
Back to profitnet €41,003
Net result €41,003 after 2 loss-making years.
31-12
Financial
Liquidity doublescurrent ratio 2.20
Current ratio from 0.89 to 2.20; short-term debt falls from €134,118 to €19,129.
27-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 58 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 23 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €17,452
Net result €17,452 after 2 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 1.16
Current ratio from 0.34 to 1.16; short-term debt falls from €121,762 to €49,956.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
6 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, Boom · 1 establishment unit since 1984
Ground area
327 m²
Building footprint
115 m²
Parcel 11622C0472/00M004, Flanders · tallest building 0.2 m. Linked by address, not a title deed.
1 establishment unit
Hoek 25, 2850 Boom
since 19842.024.278.251
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11622C0472/00M004 | Flanders | 327 m² | 1 · 115 m² | 0.2 m |
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.
Public money · subsidies and aid
Flemish government
2025 · 1 entry · 424 EUR awarded · 275 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 424 EUR | 275 EUR |
Similar companies · same sector, comparable size
VAN BUGGENHOUT PATRICK
BE 0459.050.025
Aalst · Eq €28,050
Feryn Verwarming
BE 0717.969.551
Lichtervelde · Eq €28,073
Vandevelde Kenneth
BE 0734.974.443
Deinze · Eq €27,901
PAUL-AUGUSTIN THOORENS
BE 1030.582.735
Nivelles · Eq €28,107
VANDENBULCKE PETER
BE 0836.348.648
Wervik · Eq €28,135
Of 7,043 companies in sector 43221 we hold annual accounts for 3,473. 2,689 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
Founded12-01-1984
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43410Roofing work
Contact
E-mail
gdsbvba@telenet.beBoom
E-invoicing
Reachable via Peppol
Peppol ID
0208:0425502772
Also
9925:BE0425502772
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.