GECODI
ActiveSummary
GECODI has been active since 1996 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €312,448 and a net result of -€5,121. Equity is growing by about 13% per year across the filed financial years. Its solvency ranks better than 95% of 8,541 sector peers (NACE 73, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Overview
- Equity
- €312,448
- Loss
- -€5,121
Why 81raises risk1 change of registered office in 24 monthsSize: total assets €326,592lowers riskSector: Advertising, market research and public relations activities (NACE 73)Equity €312,448 (95.7% of total assets)Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 73, micro): better than 87% on solvency, 41% on liquidity, 19% on profitability and 39% on growth.
The bankruptcy probability was computed on 26-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 27 days after the deadline; the sector median (NACE 73) for financial year 2024 is 6 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Registered officeRegistered-office move · Power of…
- Weakest financial yearnet -€5,121
Financials · financial year 2025, micro format
2025 annual accounts filed late (25 days) Filed on 25 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00048041.
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result stays negative: a loss of €17,322 in 2025 against €12,974 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 73, Advertising, market research and public relations activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 12,322 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90.3% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 12,322 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,460 | €1,460 | €1,948 | €4,441 | €4,699 | €3,698 | €5,315 | ▲ 43.7% |
| Other operating charges640/8 | - | - | - | €1,821 | €548 | €482 | €524 | ▲ 8.8% |
| Gross operating margin9900 | €46,114 | €22,280 | €17,350 | €92,840 | €106,338 | -€8,794 | -€11,482 | ▼ 30.6% |
| Operating profit (loss)9901 | €42,724 | €20,575 | €15,402 | €86,577 | €101,090 | -€12,974 | -€17,322 | ▼ 33.5% |
| Financial income75/76B | - | - | - | €11,192 | €12,910 | €14,012 | €8,221 | ▼ 41.3% |
| Recurring financial income75 | €10,645 | €12,174 | €13,424 | €11,192 | €12,910 | €14,012 | €8,221 | ▼ 41.3% |
| Financial charges65/66B | - | - | - | €2,573 | €3,121 | €1,707 | €3,174 | ▲ 85.9% |
| Recurring financial charges65 | €2,244 | €3,166 | €3,015 | €2,573 | €3,121 | €1,707 | €3,174 | ▲ 85.9% |
| Profit (loss) for the period before taxes9903 | €51,126 | €29,584 | €25,811 | €95,196 | €110,880 | -€669 | -€12,274 | ▼ 1,735% |
| Income taxes67/77 | €16,820 | €10,968 | €8,395 | €22,231 | €27,634 | €2,312 | -€7,153 | - |
| Profit (loss) for the period9904 | €34,306 | €18,616 | €17,416 | €72,966 | €83,246 | -€2,981 | -€5,121 | ▼ 71.8% |
| Profit (loss) for the period to be appropriated9905 | €34,306 | €18,616 | €17,416 | €72,966 | €83,246 | -€2,981 | -€5,121 | ▼ 71.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €201,805 | €249,214 | €291,238 | €364,811 | €434,536 | €379,816 | €326,592 | ▼ 14.0% |
| Fixed assets21/28 | €2,599 | €1,139 | €8,459 | €11,954 | €4,148 | €451 | €16,395 | ▲ 36× |
| Tangible fixed assets22/27 | €2,599 | €1,139 | €8,459 | €11,954 | €4,148 | €451 | €16,395 | ▲ 36× |
| Furniture and vehicles24 | - | - | - | €10,304 | €3,031 | - | €15,944 | - |
| Other tangible fixed assets26 | - | - | - | €1,650 | €1,117 | €451 | €451 | = |
| Current assets29/58 | €199,206 | €248,075 | €282,778 | €352,857 | €430,388 | €379,366 | €310,198 | ▼ 18.2% |
| Amounts receivable within one year40/41 | €143,014 | €183,584 | €218,100 | €247,658 | €227,704 | €159,320 | €189,317 | ▲ 18.8% |
| Trade receivables40 | - | - | - | €68,584 | €50,422 | €10,012 | €11,018 | ▲ 10.1% |
| Other amounts receivable41 | - | - | - | €179,074 | €177,282 | €149,309 | €178,298 | ▲ 19.4% |
| Current investments50/53 | €3,751 | €3,750 | €3,750 | €44,582 | €140,287 | €160,607 | €113,730 | ▼ 29.2% |
| Cash at bank and in hand54/58 | €6,620 | - | - | - | €2,437 | - | €4,346 | - |
| Deferred charges and accrued income490/1 | - | - | - | €60,617 | €59,959 | €59,439 | €2,805 | ▼ 95.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €201,805 | €249,214 | €291,238 | €364,811 | €434,536 | €379,816 | €326,592 | ▼ 14.0% |
| Equity10/15 | €154,016 | €172,632 | €190,047 | €263,013 | €320,549 | €317,569 | €312,448 | ▼ 1.6% |
| Contributions10/11 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Capital10 | - | - | - | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Issued capital100 | - | - | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Uncalled capital101 | - | - | - | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Reserves13 | €139,819 | €154,819 | €170,019 | €170,019 | €314,309 | €314,309 | €314,309 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Legal reserve130 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | - | - | - | €11,250 | €11,250 | €11,250 | €11,250 | = |
| Distributable reserves133 | - | - | - | €156,910 | €301,200 | €301,200 | €301,200 | = |
| Profit (loss) carried forward14 | €7,999 | €11,615 | €13,831 | €86,797 | €43 | -€2,938 | -€8,059 | ▼ 174% |
| Amounts payable17/49 | €47,790 | €76,582 | €101,190 | €101,798 | €113,986 | €62,247 | €14,145 | ▼ 77.3% |
| Amounts payable after more than one year17 | - | - | €3,376 | - | - | - | - | - |
| Amounts payable within one year42/48 | €47,790 | €76,582 | €97,814 | €101,798 | €113,986 | €62,247 | €14,145 | ▼ 77.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,405 | €6,063 | €6,023 | €5,978 | ▼ 0.8% |
| Financial debts43 | - | - | - | €8,654 | - | €3,858 | - | - |
| Credit institutions430/8 | - | - | - | €8,654 | - | €3,858 | - | - |
| Trade debts44 | €13,057 | €16,844 | €28,629 | €26,906 | €20,663 | €8,822 | €6,667 | ▼ 24.4% |
| Suppliers440/4 | - | - | - | €26,906 | €20,663 | €8,822 | €6,667 | ▼ 24.4% |
| Taxes, remuneration and social security45 | - | - | - | €56,833 | €62,836 | €43,545 | - | - |
| Taxes450/3 | - | - | - | €56,833 | €62,836 | €43,545 | - | - |
| Other amounts payable47/48 | - | - | - | - | €24,425 | - | €1,500 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,306 | €18,616 | €17,416 | €72,966 | €83,246 | -€2,981 | -€5,121 | ▼ 71.8% |
| + Depreciation and write-downs630 | €1,460 | €1,460 | €1,948 | €4,441 | €4,699 | €3,698 | €5,315 | ▲ 43.7% |
| Operating cash flow (approximation) | €35,766 | €20,076 | €19,364 | €77,407 | €87,946 | €717 | €194 | ▼ 73.0% |
| Investment in fixed assets (approximation) | - | €0 | -€9,269 | -€7,936 | €3,107 | €0 | -€21,259 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 25-02-2026 | 2026-00048041 |
| 30-06-2024 | micro format | 26-02-2025 | 2025-00043975 |
| 30-06-2023 | micro format | 29-02-2024 | 2024-00040378 |
| 30-06-2022 | micro format | 16-02-2023 | 2023-00028072 |
| 30-06-2021 | micro format | 25-02-2022 | 2022-06900359 |
| 30-06-2020 | micro format | 15-02-2021 | 2021-05600346 |
| 30-06-2019 | micro format | 23-03-2020 | 2020-07300401 |
| 30-06-2018 | micro format | 18-02-2019 | 2019-05600245 |
| 30-06-2017 | micro format | 13-02-2018 | 2018-04900276 |
| 30-06-2016 | full format | 23-01-2017 | 2017-02000342 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| PIERRARD Denis |
|
Owners and capital
Capital and shareholders
- 06-02-2024 Converted to unavailable equity
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
01-09
Gazette deed
Registered officeRegistered-office move · Power of attorney4 facts ▸
- Board meeting, 25-03-2025
- Registered-office move, Boulevard du Souverain 398 à 1160 Bruxelles
- Power of attorney, J.Jordens srl
- Power of attorney, Serge Solau
06-02
Gazette deed
Resignation: PIERRARD Denis (manager)Appointment: PIERRARD Denis (director) · Amendment of the articles · Capital conversion12 facts ▸
- General meeting, “procès-verbal reçu par notaire, assemblée générale extraordinaire” (deed in French)
- Amendment of the articles (2 times)
- Capital conversion, “Deuxième résolution, constat, article 39, §2, deuxième alinéa de la loi du 23-03-2019 introduisant le Code des sociétés et des associations et portant des dis…” (deed in French)
- Reserve release, “supprimer le compte de capitaux propres statutairement indisponible, rendre ces fonds disponibles pour distribution” (deed in French)
- Capital
- Other provision, “Pas d'application” (deed in French)
- Power of attorney, Laurent VANNESTE
- Director resignation, PIERRARD Denis (manager)
- Director appointment, PIERRARD Denis (director (not named in the articles))
- Director discharge, PIERRARD Denis
- Registered office clause, “1170 Watermael-Boitsfort,Boulevard du Souverain 36/15” (deed in French)
- Other provision, “unanimité décisions, toutes décisions prises à unanimité voix” (deed in French)
Show earlier events
About the unread acts
Of the 6 Belgian Official Gazette deeds we know for this company, 2 have been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21332B0493/00E028 | Brussels | 287 m² | 1 · 287 m² | 9.6 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “La prestation de tous services à fournir aux entreprises ou associations en matière de gestion administrative, financière, économique ou…” (deed in French)
7 activities (deed in French)
- La prestation de tous services à fournir aux entreprises ou associations en matière de gestion administrative, financière, économique ou sociale, d’études et de développement de marchés, la recherche de partenaires, l’organisation et le financement, tant en Belgique qu’à l’étranger, de toutes entreprises commerciales, civiles ou industrielles.
- Elle peut également accepter tous mandants d’administrateur dans toutes sociétés ou associations.
- Elle peut également effectuer toutes opérations d’acquisition de tous biens immobiliers.
- La société peut réaliser son objet pour son compte ou pour le compte d’un tiers, en tout lieu, de toutes les manières et selon les modalités qui lui paraissent les mieux appropriées.
- Elle peut faire toutes opérations commerciales, industrielles et financières, immobilières et mobilières, se rapportant directement ou indirectement à son objet ou susceptible de favoriser son développement.
- La société pourra prendre la direction et le contrôle, en sa qualité d’administrateur, liquidateur, ou autrement, de sociétés affiliées ou filiales et de département de sociétés, et leur prodiguer des avis.
- La société peut, par voie d’apport en espèces ou en natures, de fusion, de souscription, de participation, d’intervention financière ou autrement, prendre des participations dans d’autres sociétés ou entreprises existantes ou à créer, que ce soit en Belgique ou à l’étranger, dont l’objet serait semblable ou analogue au sien ou de nature à favoriser son objet.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- GECODI
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, Article 2” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, organe d'administration” (deed in French)“Administrateur, portée aux frais généraux, indépendamment des frais de représentation, voyages et déplacements” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, titulaires peuvent prendre connaissance relatif à leurs titres” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Article 8, proportionnellement au nombre d’actions qu’ils détiennent” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Tuesday of December at 18:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Prévues pour modifications statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Quelque cause et moment, désigner un ou plusieurs liquidateurs, déterminer pouvoirs et émoluments” (deed in French)