GDS Immo
Open bankruptcyA bankruptcy procedure is open for GDS Immo according to publications in the Belgian State Gazette; curator: YSABELLE ENSCH.
Summary
The file additionally contains 4 interim measures and 1 judicial reorganisation. The 2023 annual accounts show equity of €1.9m and a net result of -€152,796.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- French-language Enterprise Court of Brussels
- Declared bankrupt
- 3 November 2025
- Supervising judge
- Paul Vanderhoeven
- Official Gazette
- 07-11-2025 (pdf) ↗search the document for 2025/146018
Deadlines
- Appeal or third-party opposition until
- passed on 22 November 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 3 December 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 10 December 2025Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 3 November 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Ysabelle EnschAvenue Louise 349 B 17, 1050 Ixellesyensch@ensch.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Two signals.
+raises risk
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Real estate agency activities sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, full schema
Turnover
€252,450
EBIT margin
-14.8%
Net result
-€152,796▼ 76.5%
2022 · -€86,577
Working capital
-€943,245▼ 6.4%
2022 · -€886,132
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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
Line20192020202120222023
Turnover
Operating result-€30,532▲ 18.3%-€13,951▲ 54.3%€10,148-€95,622-€41,521▲ 56.6%
Net result-€34,665▲ 9.8%-€21,895below the sector's middle half▲ 36.8%-€5,705within the sector's middle half▲ 73.9%-€86,577below the sector's middle half▼ 1,418%-€152,796below the sector's middle half▼ 76.5%
EBIT margin
Equity€530,582▼ 6.1%€509,696above the sector's middle half▼ 3.9%€503,992above the sector's middle half▼ 1.1%€2.1mwithin the sector's middle half▲ 308%€1.9mwithin the sector's middle half▼ 7.4%
Total assets€582,886▼ 7.3%€543,288within the sector's middle half▼ 6.8%€551,275within the sector's middle half▲ 1.5%€3.3mwithin the sector's middle half▲ 496%€3.1mwithin the sector's middle half▼ 4.4%
Debt€52,304▼ 17.5%€33,592▼ 35.8%€47,283▲ 40.8%€1.2m▲ 2,503%€1.2m▲ 0.7%
Working capital€41,080▲ 55.2%€69,901within the sector's middle half▲ 70.2%€110,895within the sector's middle half▲ 58.6%-€886,132below the sector's middle half-€943,245below the sector's middle half▼ 6.4%
Solvency91.0%▲ 1.1pp93.8%above the sector's middle half▲ 2.8pp91.4%above the sector's middle half▼ 2.4pp62.5%above the sector's middle half▼ 28.9pp60.5%within the sector's middle half▼ 2.0pp
Current ratio1.79▲ 0.373.13above the sector's middle half▲ 1.353.38above the sector's middle half▲ 0.250.28below the sector's middle half▼ 3.100.23below the sector's middle half▼ 0.05
Return on assets (ROA)-5.9%▲ 0.2pp-4.0%below the sector's middle half▲ 1.9pp-1.0%within the sector's middle half▲ 3.0pp-2.6%below the sector's middle half▼ 1.6pp-4.9%below the sector's middle half▼ 2.2pp
Staff (FTE)21.6within the sector's middle half▼ 20.0%1▼ 37.5%
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €41,521 in 2023 against €95,622 in 2022; the loss shrinks.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €3.1m
Fixed assets
€2.9m ▼ 3.0%
Current assets
€287,622 ▼ 16.5%
Equity and liabilities €3.1m
Equity
€1.9m ▼ 7.4%
Debt
€1.2m ▲ 0.7%
Debt's share of the balance-sheet total rises from 37.5% to 39.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€50,953▲
2022 · -€2,655
Cash flow
-€60,322▼
2022 · €6,389
Debt to equity
0.65▲
2022 · 0.60
ROE
-8.0%▼
2022 · -4.2%
Interest coverage
0.42▲
2022 · -1.32
Debt ≤ 1 year
€1.2m=
2022 · €1.2m
Income taxes
€3,128▲
2022 · €220
Staff costs
€4,570▼
2022 · €57,633
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €45,000 | - | - |
| Remuneration, social security and pensions62 | - | - | €48,378 | €57,633 | €4,570 | ▼ 92.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €49,264 | €48,895 | €49,031 | €92,967 | €92,474 | ▼ 0.5% |
| Other operating charges640/8 | - | - | €5,237 | €6,307 | €5,452 | ▼ 13.5% |
| Gross operating margin9900 | €82,603 | €89,629 | €112,795 | €61,284 | €60,975 | ▼ 0.5% |
| Operating profit (loss)9901 | -€30,532 | -€13,951 | €10,148 | -€95,622 | -€41,521 | ▲ 56.6% |
| Financial income75/76B | - | - | €1,272 | €11,276 | €13,815 | ▲ 22.5% |
| Recurring financial income75 | €157 | €649 | €1,272 | €11,276 | €13,815 | ▲ 22.5% |
| Financial charges65/66B | - | - | €1,763 | €2,011 | €121,962 | ▲ 5,964% |
| Recurring financial charges65 | €1,540 | €1,093 | €1,763 | €2,011 | €121,962 | ▲ 5,964% |
| Profit (loss) for the period before taxes9903 | -€31,915 | -€14,395 | €9,657 | -€86,357 | -€149,668 | ▼ 73.3% |
| Income taxes67/77 | €2,750 | €7,500 | €15,361 | €220 | €3,128 | ▲ 1,323% |
| Profit (loss) for the period9904 | -€34,665 | -€21,895 | -€5,705 | -€86,577 | -€152,796 | ▼ 76.5% |
| Transfer from tax-exempt reserves789 | - | - | €46,540 | €19,392 | - | - |
| Profit (loss) for the period to be appropriated9905 | €11,875 | €24,644 | €40,835 | -€67,186 | -€152,796 | ▼ 127% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €582,886 | €543,288 | €551,275 | €3.3m | €3.1m | ▼ 4.4% |
| Fixed assets21/28 | €489,507 | €440,613 | €393,844 | €2.9m | €2.9m | ▼ 3.0% |
| Tangible fixed assets22/27 | €489,507 | €440,613 | €393,844 | €1.7m | €1.6m | ▼ 5.1% |
| Land and buildings22 | - | - | €388,363 | €1.7m | €1.6m | ▼ 5.1% |
| Furniture and vehicles24 | - | - | €5,482 | €3,325 | €3,099 | ▼ 6.8% |
| Financial fixed assets28 | - | - | - | €1.2m | €1.2m | = |
| Current assets29/58 | €93,379 | €102,676 | €157,430 | €344,428 | €287,622 | ▼ 16.5% |
| Stocks and contracts in progress3 | €13,544 | €8,663 | €7,683 | - | - | - |
| Stocks30/36 | - | - | €7,683 | - | - | - |
| Amounts receivable within one year40/41 | €15,577 | €20,947 | €44,883 | €342,364 | €286,639 | ▼ 16.3% |
| Trade receivables40 | - | - | €22,974 | €422 | €1,917 | ▲ 354% |
| Other amounts receivable41 | - | - | €21,908 | €341,942 | €284,723 | ▼ 16.7% |
| Cash at bank and in hand54/58 | €57,629 | €65,189 | €98,138 | €786 | €113 | ▼ 85.6% |
| Deferred charges and accrued income490/1 | - | - | €6,726 | €1,278 | €869 | ▼ 32.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €582,886 | €543,288 | €551,275 | €3.3m | €3.1m | ▼ 4.4% |
| Equity10/15 | €530,582 | €509,696 | €503,992 | €2.1m | €1.9m | ▼ 7.4% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | €62,000 | €62,000 | €62,000 | = |
| Revaluation surpluses12 | - | - | €372,317 | €2.0m | €2.0m | = |
| Reserves13 | €4,575 | €5,805 | €6,678 | €6,678 | €6,678 | = |
| Non-distributable reserves130/1 | - | - | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | - | €478 | €478 | €478 | = |
| Profit (loss) carried forward14 | -€1,389 | €23,035 | €62,997 | -€4,189 | -€156,985 | ▼ 3,648% |
| Amounts payable17/49 | €52,304 | €33,592 | €47,283 | €1.2m | €1.2m | ▲ 0.7% |
| Amounts payable within one year42/48 | €52,299 | €32,775 | €46,535 | €1.2m | €1.2m | = |
| Current portion of amounts payable after more than one year42 | - | - | €5,751 | €1.2m | €1.2m | = |
| Financial debts43 | - | - | - | €6,962 | €22,369 | ▲ 221% |
| Credit institutions430/8 | - | - | - | €6,962 | €22,369 | ▲ 221% |
| Trade debts44 | €32,100 | €7,326 | €21,326 | - | - | - |
| Suppliers440/4 | - | - | €21,326 | - | - | - |
| Taxes, remuneration and social security45 | - | - | €19,211 | €15,100 | - | - |
| Taxes450/3 | - | - | €15,197 | €15,100 | - | - |
| Remuneration and social security454/9 | - | - | €4,014 | - | - | - |
| Other amounts payable47/48 | - | - | €248 | €248 | €248 | = |
| Accrued charges and deferred income492/3 | - | - | €748 | - | €8,700 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€34,665 | -€21,895 | -€5,705 | -€86,577 | -€152,796 | ▼ 76.5% |
| + Depreciation and write-downs630 | €49,264 | €48,895 | €49,031 | €92,967 | €92,474 | ▼ 0.5% |
| Operating cash flow (approximation) | €14,600 | €26,999 | €43,327 | €6,389 | -€60,322 | ▼ 1,044% |
| Investment in fixed assets (approximation) | - | €0 | -€2,263 | -€2.6m | -€5,491 | ▲ 99.8% |
| Change in cash | - | €7,560 | €32,949 | -€97,352 | -€672 | ▲ 99.3% |
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
2025
07-11
Bankruptcy
Opening
Tribunal de l’entreprise francophone de Bruxelles · event 03-11-2025
26-09
Interim measure
Provisional administrator
Tribunal de l’entreprise francophone de Bruxelles · EMILIE MICHEL
19-09
Interim measure
Provisional administrator
Tribunal de l’entreprise francophone de Bruxelles · ALAIN HENDERICKX
19-09
Interim measure
Provisional administrator
Tribunal de l’entreprise francophone de Bruxelles · EMMANUELLE BOUILLON
15-04
Interim measure
Provisional administrator
Tribunal de l’entreprise francophone de Bruxelles · Nicholas OUCHINSKY
25-02
Judicial reorganisation
Court officer appointed
Tribunal de l’entreprise francophone de Bruxelles
2024
08-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 100 days late
2023
31-12
Financial
Weakest financial yearnet -€152,796
Net result drops to -€152,796, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Equity above €2mEq €2.1m ▲308%
Equity rises from €503,992 to €2.1m.
16-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 19 days late
Show earlier events
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 27 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 60 days late
2016
25-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
28-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 28 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts
We know of 9 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
9 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, Elsene · 1 establishment unit since 1972
Ground area
3,191 m²
Building footprint
944 m²
Volume, LiDAR
35,380 m³
2 parcels, Brussels, Flanders · tallest building 45.4 m, ±14 floors. Linked by address, not a title deed.
98
companies at this address
See who is registered here
1 establishment unit
Waterloose Steenweg 258, 1640 Sint-Genesius-Rode
since 19722.006.987.903
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22552E0043/00E045 | Flanders | 2,213 m² | 1 · 55 m² | 11.6 m · 1 fl. |
| 21807G0123/00P004 | Brussels | 977 m² | 1 · 890 m² | 45.4 m · 14 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
5 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | YSABELLE ENSCH AVENUE LOUISE 349 B 17,
1050 IXELLES |
03-11-2025 → present |
| Interim administrator | EMILIE MICHEL | 26-09-2025 → present |
| Interim administrator | ALAIN HENDERICKX | 19-09-2025 → present |
| Interim administrator | EMMANUELLE BOUILLON | 19-09-2025 → present |
| Interim administrator | Nicholas OUCHINSKY | 15-04-2025 → present |
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2023 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2023 annual accounts of GDS Immo and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 11,757 companies in sector 68310 we hold annual accounts for 6,914. 2,844 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-01-1972
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
68321Property management for co-owned buildings (syndics)
68322Real estate appraisal on a fee or contract basis
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.