GDW Security
ActiveGDW Security has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.02M and a net result of €1.09M. Equity is growing by ~4.5% per year across the filed fiscal years. Its solvency ranks better than 53% of 7426 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2024
94
/ 100
Excellent▼ -6 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability100=
Solvency83▼-11
Growth78=
Stability100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €190k at 30 days acceptable
Liquidity ample (current ratio 1.68 against 1.89 in 2023), but 54.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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
Sector 43
higher
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
45.7%
Return on assets
24.6%
Age of the figures
20 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-07-2025, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
25 d early
2023
on the day
2022
31 d late
2021
39 d early
2020
1 d early
2019
9 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€2.02M▲ 1.8%
2023 · €1.98M
2018: €1.30M
2019: €1.57M
2020: €1.91M
2021: €1.97M
2022: €1.98M
2023: €1.98M
2018 → 2024
Total assets
€4.41M▲ 16.3%
2023 · €3.79M
2018: €2.36M
2019: €2.98M
2020: €3.38M
2021: €3.51M
2022: €3.33M
2023: €3.79M
2018 → 2024
Net result
€1.09M▲ 64.7%
2023 · €659k
2018: €338k
2019: €334k
2020: €455k
2021: €316k
2022: €435k
2023: €659k
2018 → 2024
Working capital
€1.41M▼ 7.5%
2023 · €1.52M
2018: €952k
2019: €1.16M
2020: €1.45M
2021: €1.51M
2022: €1.47M
2023: €1.52M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€1.91M-€1.97M▲ 3.5%€1.98M▲ 0.2%€1.98M▲ 0.2%€2.02M▲ 1.8%
Operating result€507k-€422k▼ 16.9%€566k▲ 34.2%€874k▲ 54.4%€1.38M▲ 58.4%
Net result€455k-€316k▼ 30.6%€435k▲ 37.6%€659k▲ 51.6%€1.09M▲ 64.7%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 58% above 2023 and is the highest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €4.41M
Fixed assets
€925k▲ 68.3%
Current assets
€3.48M▲ 7.5%
Equity and liabilities €4.41M
Equity
€2.02M▲ 1.8%
Debt
€2.39M▲ 32.1%
The debt ratio rises from 47.7% to 54.3%: debt grows faster than equity.
Key figures and ratios
EBITDA
€1.62M▲
2023 · €1.10M
Cash flow
€1.32M▲
2023 · €884k
Solvency
45.7%▼
2023 · 52.3%
Current ratio
1.68▼
2023 · 1.89
Quick ratio
1.55▼
2023 · 1.74
Debt / equity
1.19▲
2023 · 0.91
ROE
53.8%▲
2023 · 33.3%
ROA
24.6%▲
2023 · 17.4%
Interest coverage
136.88▲
2023 · 53.20
Debt
€2.39M▲
2023 · €1.81M
Debt ≤ 1 year
€2.07M▲
2023 · €1.72M
Debt > 1 year
€313k▲
2023 · €92k
Income taxes
€339k▲
2023 · €213k
Staff costs
€2.84M▲
2023 · €2.74M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€3.79M€4.41M▲
Fixed assets21/28€549k€925k▲
Intangible fixed assets21€39k€30k▼
Tangible fixed assets22/27€508k€893k▲
Land and buildings22€108k€99k▼
Plant, machinery and equipment23€9k€9k▼
Furniture and vehicles24€363k€612k▲
Other tangible fixed assets26€28k€173k▲
Financial fixed assets28€2k€2k=
Current assets29/58€3.24M€3.48M▲
Stocks and contracts in progress3€248k€276k▲
Stocks30/36€248k€276k▲
Amounts receivable within one year40/41€788k€918k▲
Trade receivables40€596k€744k▲
Other amounts receivable41€192k€174k▼
Current investments50/53€1.84M€1.79M▼
Cash at bank and in hand54/58€340k€456k▲
Deferred charges and accrued income490/1€29k€49k▲
Equity and liabilities
Total equity and liabilities10/49€3.79M€4.41M▲
Equity10/15€1.98M€2.02M▲
Contributions10/11€85k€85k=
Capital10€85k€85k=
Issued capital100€85k€85k=
Reserves13€1.90M€1.93M▲
Non-distributable reserves130/1€68k€68k=
Legal reserve130€68k€68k=
Distributable reserves133€1.83M€1.86M▲
Amounts payable17/49€1.81M€2.39M▲
Amounts payable after more than one year17€92k€313k▲
Financial debts170/4€92k€313k▲
Amounts payable within one year42/48€1.72M€2.07M▲
Current portion of amounts payable after more than one year42€122k€152k▲
Financial debts43€62k-
Other loans439€62k-
Trade debts44€460k€368k▼
Suppliers440/4€460k€368k▼
Advances received on contracts in progress46€112k€170k▲
Taxes, remuneration and social security45€307k€332k▲
Taxes450/3€1k€2k▲
Remuneration and social security454/9€305k€331k▲
Other amounts payable47/48€655k€1.05M▲
Accrued charges and deferred income492/3-€6k
Income statement
Code20232024
Remuneration, social security and pensions62€2.74M€2.84M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€225k€235k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-1k€1k▲
Other operating charges640/8€8k€8k▼
Gross operating margin9900€3.84M€4.46M▲
Operating profit (loss)9901€874k€1.38M▲
Financial income75/76B€19k€51k▲
Recurring financial income75€19k€51k▲
Financial charges65/66B€21k€12k▼
Recurring financial charges65€21k€12k▼
Profit (loss) for the period before taxes9903€872k€1.42M▲
Income taxes67/77€213k€339k▲
Profit (loss) for the period9904€659k€1.09M▲
Profit (loss) for the period to be appropriated9905€659k€1.09M▲
Appropriation of the result
Profit (loss) to be appropriated9906€659k€1.09M▲
Transfer to equity691/2€4k€35k▲
To other reserves6921€4k€35k▲
Profit to be distributed694/7€655k€1.05M▲
Return on contributions (dividend)694€605k€950k▲
Directors or managers695€50k-
Employees696-€100k
Social balance
Average headcount (FTE)908734.936.3▲
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
06-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €1.09M ▲64.7%
Operating result €1.38M, net result €1.09M, both a record.
31-12
Financial
Equity above €2MEq €2.02M ▲1.8%
7 profitable years in a row build equity to €2.02M.
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €316k ▼30.6%
Net result drops to €316k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
04-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
11-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 11 days late
2016
15-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
11 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, Machelen (Brab.) · 1 establishment unit since 1986
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.
Haachtsesteenweg 561831 Machelen (Brab.)Ground area
1,937 m²
Building footprint
301 m²
Volume, LiDAR
1,542 m³
Parcel 23015A0267/00C003, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GDW Security
since 19862.035.098.206
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23015A0267/00C003 | Flanders | 1,937 m² | 1 · 300 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
2022 to 2025 · 4 entries · 11,019 EUR awarded · 10,333 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,037 EUR | 1,066 EUR |
| 2024 | 1 | 1,714 EUR | 3,529 EUR |
| 2023 | 1 | 4,115 EUR | 2,585 EUR |
| 2022 | 1 | 3,153 EUR | 3,153 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
4 categoriesGDW Security NV35390
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Of 22,729 companies in sector 43211 we hold annual accounts for 10,274. 2,865 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded02-10-1986
Fiscal year end31-12
Abbreviation NL
G.D.W.
Activities, NACEBEL
43211General electrical installation work
45310
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.