GECOO
Open bankruptcyA bankruptcy procedure is open for GECOO according to publications in the Belgian State Gazette; curator: Yves PYNAERT.
Summary
The 2024 annual accounts show equity of €43k and a net result of €-18k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2024 was due by 31-01-2025 and was filed on 17-01-2025, 14 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
not filed
2024
14 d early
2023
19 d early
2022
15 d early
2021
5 d early
2020
4 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€43k▼ 52.2%
2023 · €91k
2020: €21klowest in 5 years
2021: €59k▲ +184% vs 2020
2022: €73k▲ +23.1% vs 2021
2023: €91k▲ +24.6% vs 2022highest in 5 years
2024: €43k▼ -52.2% vs 2023
2020 → 2024
Total assets
€83k▼ 37.8%
2023 · €134k
2020: €80klowest in 5 years
2021: €108k▲ +34.6% vs 2020
2022: €107k▼ -0.8% vs 2021
2023: €134k▲ +24.6% vs 2022highest in 5 years
2024: €83k▼ -37.8% vs 2023
2020 → 2024
Net result
€-18k
2023 · €38k
2020: €18k
2021: €38k▲ +115% vs 2020highest in 5 years
2022: €14k▼ -64.3% vs 2021
2023: €38k▲ +177% vs 2022
2024: €-18k▼ -147% vs 2023lowest in 5 years
2020 → 2024
Working capital
€30k▼ 59.2%
2023 · €73k
2020: €-949lowest in 5 years
2021: €40k▲ +4338% vs 2020
2022: €55k▲ +36.1% vs 2021
2023: €73k▲ +32.6% vs 2022highest in 5 years
2024: €30k▼ -59.2% vs 2023
2020 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€21k-€59k▲ 184%€73k▲ 23.1%€91k▲ 24.6%€43k▼ 52.2%
2020: €21klowest in 5 years
2021: €59k▲ +184% vs 2020
2022: €73k▲ +23.1% vs 2021
2023: €91k▲ +24.6% vs 2022highest in 5 years
2024: €43k▼ -52.2% vs 2023
Operating result€27k-€53k▲ 95.2%€21k▼ 60.2%€50k▲ 136%€-17k
2020: €27k
2021: €53k▲ +95.2% vs 2020highest in 5 years
2022: €21k▼ -60.2% vs 2021
2023: €50k▲ +136% vs 2022
2024: €-17k▼ -134% vs 2023lowest in 5 years
Net result€18k-€38k▲ 115%€14k▼ 64.3%€38k▲ 177%€-18k
2020: €18k
2021: €38k▲ +115% vs 2020highest in 5 years
2022: €14k▼ -64.3% vs 2021
2023: €38k▲ +177% vs 2022
2024: €-18k▼ -147% vs 2023lowest in 5 years
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 2024: a loss of €17k after €50k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €83k
Fixed assets
€14k ▼ 40.3%
Current assets
€69k ▼ 37.2%
Equity and liabilities €83k
Equity
€43k ▼ 52.2%
Debt
€40k ▼ 7.0%
Debt's share of the balance-sheet total rises from 31.9% to 47.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-8k▼
2023 · €58k
Cash flow
€-9k▼
2023 · €46k
Current ratio
1.75▼
2023 · 2.92
Debt to equity
0.91▲
2023 · 0.47
ROE
-41.2%▼
2023 · 41.7%
ROA
-21.6%▼
2023 · 28.4%
Interest coverage
-34.61▼
2023 · 184.37
Debt ≤ 1 year
€40k▲
2023 · €38k
Income taxes
€634▼
2023 · €11k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 44 lines
Balance sheet
Code20232024
Assets
Total assets20/58€134k€83k▼
Fixed assets21/28€23k€14k▼
Tangible fixed assets22/27€23k€14k▼
Plant, machinery and equipment23€6k€5k▼
Furniture and vehicles24€17k€9k▼
Current assets29/58€110k€69k▼
Amounts receivable within one year40/41€57k€51k▼
Trade receivables40€57k€42k▼
Other amounts receivable41-€9k
Cash at bank and in hand54/58€53k€18k▼
Equity and liabilities
Total equity and liabilities10/49€134k€83k▼
Equity10/15€91k€43k▼
Contributions10/11€3k€3k=
Reserves13€88k€58k▼
Distributable reserves133€88k€58k▼
Profit (loss) carried forward14-€-18k
Amounts payable17/49€43k€40k▼
Amounts payable after more than one year17€5k-
Financial debts170/4€5k-
Amounts payable within one year42/48€38k€40k▲
Current portion of amounts payable after more than one year42€6k€5k▼
Trade debts44€7k€3k▼
Suppliers440/4€7k€3k▼
Taxes, remuneration and social security45€15k€7k▼
Taxes450/3€15k€7k▼
Other amounts payable47/48€10k€25k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9k€9k▲
Other operating charges640/8€850€743▼
Gross operating margin9900€59k€-7k▼
Operating profit (loss)9901€50k€-17k▼
Financial income75/76B-€5
Recurring financial income75-€5
Financial charges65/66B€316€224▼
Recurring financial charges65€316€224▼
Profit (loss) for the period before taxes9903€49k€-17k▼
Income taxes67/77€11k€634▼
Profit (loss) for the period9904€38k€-18k▼
Profit (loss) for the period to be appropriated9905€38k€-18k▼
Appropriation of the result
Profit (loss) to be appropriated9906€38k€-18k▼
Transfer from equity791/2-€30k
Transfer to equity691/2€18k-
To other reserves6921€18k-
Profit to be distributed694/7€20k€30k▲
Return on contributions (dividend)694€20k€30k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5k | €10k | €11k | €9k | €9k | ▲ 9.5% |
| Other operating charges640/8 | - | - | €963 | €850 | €743 | ▼ 12.6% |
| Gross operating margin9900 | €33k | €64k | €33k | €59k | €-7k | ▼ 112% |
| Operating profit (loss)9901 | €27k | €53k | €21k | €50k | €-17k | ▼ 134% |
| Financial income75/76B | - | - | - | - | €5 | - |
| Recurring financial income75 | - | - | - | - | €5 | - |
| Financial charges65/66B | - | - | €417 | €316 | €224 | ▼ 29.1% |
| Recurring financial charges65 | €140 | €444 | €417 | €316 | €224 | ▼ 29.1% |
| Profit (loss) for the period before taxes9903 | €27k | €53k | €21k | €49k | €-17k | ▼ 135% |
| Income taxes67/77 | €9k | €14k | €7k | €11k | €634 | ▼ 94.5% |
| Profit (loss) for the period9904 | €18k | €38k | €14k | €38k | €-18k | ▼ 147% |
| Profit (loss) for the period to be appropriated9905 | €18k | €38k | €14k | €38k | €-18k | ▼ 147% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €80k | €108k | €107k | €134k | €83k | ▼ 37.8% |
| Fixed assets21/28 | €46k | €37k | €29k | €23k | €14k | ▼ 40.3% |
| Tangible fixed assets22/27 | €46k | €37k | €29k | €23k | €14k | ▼ 40.3% |
| Plant, machinery and equipment23 | - | - | €2k | €6k | €5k | ▼ 24.1% |
| Furniture and vehicles24 | - | - | €27k | €17k | €9k | ▼ 46.5% |
| Current assets29/58 | €35k | €71k | €78k | €110k | €69k | ▼ 37.2% |
| Amounts receivable within one year40/41 | €18k | €42k | €26k | €57k | €51k | ▼ 10.5% |
| Trade receivables40 | - | - | €26k | €57k | €42k | ▼ 27.0% |
| Other amounts receivable41 | - | - | - | - | €9k | - |
| Cash at bank and in hand54/58 | €17k | €29k | €52k | €53k | €18k | ▼ 66.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €80k | €108k | €107k | €134k | €83k | ▼ 37.8% |
| Equity10/15 | €21k | €59k | €73k | €91k | €43k | ▼ 52.2% |
| Contributions10/11 | €3k | - | €3k | €3k | €3k | = |
| Reserves13 | €18k | €56k | €70k | €88k | €58k | ▼ 33.6% |
| Distributable reserves133 | - | - | €70k | €88k | €58k | ▼ 33.6% |
| Profit (loss) carried forward14 | - | - | - | - | €-18k | - |
| Amounts payable17/49 | €59k | €49k | €34k | €43k | €40k | ▼ 7.0% |
| Amounts payable after more than one year17 | €24k | €18k | €11k | €5k | - | - |
| Financial debts170/4 | - | - | €11k | €5k | - | - |
| Amounts payable within one year42/48 | €36k | €31k | €23k | €38k | €40k | ▲ 4.9% |
| Current portion of amounts payable after more than one year42 | - | - | €6k | €6k | €5k | ▼ 24.0% |
| Trade debts44 | €3k | €1k | €3k | €7k | €3k | ▼ 64.0% |
| Suppliers440/4 | - | - | €3k | €7k | €3k | ▼ 64.0% |
| Taxes, remuneration and social security45 | - | - | €11k | €15k | €7k | ▼ 51.0% |
| Taxes450/3 | - | - | €11k | €15k | €7k | ▼ 51.0% |
| Other amounts payable47/48 | - | - | €2k | €10k | €25k | ▲ 161% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18k | €38k | €14k | €38k | €-18k | ▼ 147% |
| + Depreciation and write-downs630 | €5k | €10k | €11k | €9k | €9k | ▲ 9.5% |
| Operating cash flow (approximation) | €23k | €49k | €24k | €46k | €-9k | ▼ 119% |
| Investment in fixed assets (approximation) | - | €-1k | €-3k | €-2k | €0 | ▲ 100% |
| Change in cash | - | €13k | €23k | €1k | €-35k | ▼ 2,972% |
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
20-10
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 14-10-2025
17-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Weakest financial yearnet €-18k
Net result drops to €-18k, the lowest in the series.
12-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Highest result since 2020net €38k ▲115%
Operating result €53k, net result €38k, both a record.
30-06
Financial
Liquidity doublescurrent ratio 2.29
Current ratio from 0.97 to 2.29; short-term debt falls from €36k to €31k.
27-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Harelbeke · 1 establishment unit since 2019
Ground area
305 m²
Building footprint
70 m²
Volume, LiDAR
505 m³
Parcel 34323D0135/00W000, Flanders · tallest building 10.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GECOO
since 20192.290.904.725
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34323D0135/00W000 | Flanders | 305 m² | 1 · 70 m² | 10.5 m · 2 fl. |
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | Yves PYNAERT KORTRIJKSE HEERWEG 80, 8540 DEER-
LIJK |
14-10-2025 → present |
Public money · subsidies and aid
Flemish government
2022 · 1 entry · 2,667 EUR awarded · 2,667 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 2,667 EUR | 2,667 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 24,497 companies in sector 82990 we hold annual accounts for 9,406. 6,797 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
Founded08-07-2019
Fiscal year end30-06
Activities, NACEBEL 2025
82990Other business support services
27110Manufacture of electrical equipment
28210Manufacture of machinery and equipment not elsewhere classified
43211General electrical installation work
Contact
E-mail
Gecoo@telenet.be
Scores and ratios are computed by Checked and are not a credit decision.