Summary
GECUMAN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €18,600 and a net result of €33,697. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 14% of 8074 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 8074 sector peers (2025).
NBB · sector comparisonPosition among 8074 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-04-2026, 120 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
120 d early
2024
87 d early
2023
34 d early
2022
25 d early
2021
122 d early
2020
38 d early
2019
24 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 64 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€18,600▼ 90.1%
2024 · €188,414
Net result
€33,697▼ 15.0%
2024 · €39,659
Total assets
€243,444▼ 9.8%
2024 · €269,866
Solvency
7.6%▼ 62.2pp
2024 · 69.8%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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€104,394▼ 13.0%€138,423▲ 32.6%€171,618▲ 24.0%€50,078▼ 70.8%€45,303▼ 9.5%
Net result€83,401above the sector's middle half▼ 10.1%€110,953above the sector's middle half▲ 33.0%€132,514above the sector's middle half▲ 19.4%€39,659within the sector's middle half▼ 70.1%€33,697within the sector's middle half▼ 15.0%
Equity€84,728within the sector's middle half▼ 51.9%€125,681within the sector's middle half▲ 48.3%€205,255within the sector's middle half▲ 63.3%€188,414within the sector's middle half▼ 8.2%€18,600below the sector's middle half▼ 90.1%
Total assets€287,660within the sector's middle half▲ 34.3%€217,715within the sector's middle half▼ 24.3%€281,843within the sector's middle half▲ 29.5%€269,866within the sector's middle half▼ 4.2%€243,444within the sector's middle half▼ 9.8%
Debt€202,931▲ 435%€92,034▼ 54.6%€76,588▼ 16.8%€81,452▲ 6.4%€224,844▲ 176%
Working capital€83,809▼ 52.5%€118,145▲ 41.0%€198,088▲ 67.7%€183,500▼ 7.4%€13,998▼ 92.4%
Solvency29.5%within the sector's middle half▼ 52.8pp57.7%within the sector's middle half▲ 28.3pp72.8%within the sector's middle half▲ 15.1pp69.8%within the sector's middle half▼ 3.0pp7.6%below the sector's middle half▼ 62.2pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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 has fallen two years in a row; 2025 is 10% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €243,444
Fixed assets
€5,620 ▲ 14.4%
Current assets
€237,825 ▼ 10.2%
Equity and liabilities €243,444
Equity
€18,600 ▼ 90.1%
Debt
€224,844 ▲ 176%
Debt's share of the balance-sheet total rises from 30.2% to 92.4%. Equity is lower and debt is higher.
Key figures and ratios
ROE
181.2%▲
2024 · 21.0%
ROA
13.8%▼
2024 · 14.7%
Debt ≤ 1 year
€223,827▲
2024 · €81,452
Income taxes
€9,609▼
2024 · €10,750
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €15,297 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €198 | €1,025 | €1,876 | €2,254 | €2,613 | ▲ 15.9% |
| Other operating charges640/8 | - | €472 | €592 | €657 | €1,026 | ▲ 56.1% |
| Gross operating margin9900 | €105,063 | €139,920 | €174,086 | €52,990 | €48,941 | ▼ 7.6% |
| Operating profit (loss)9901 | €104,394 | €138,423 | €171,618 | €50,078 | €45,303 | ▼ 9.5% |
| Financial income75/76B | - | €5,697 | €1,899 | €3,238 | €2,999 | ▼ 7.4% |
| Recurring financial income75 | €0 | €5,697 | €1,899 | €3,238 | €2,999 | ▼ 7.4% |
| Financial charges65/66B | - | €1,592 | €1,396 | €2,907 | €4,995 | ▲ 71.8% |
| Recurring financial charges65 | -€430 | €1,592 | €1,396 | €2,907 | €4,995 | ▲ 71.8% |
| Profit (loss) for the period before taxes9903 | €104,824 | €142,528 | €172,121 | €50,409 | €43,307 | ▼ 14.1% |
| Income taxes67/77 | €21,424 | €31,575 | €39,606 | €10,750 | €9,609 | ▼ 10.6% |
| Profit (loss) for the period9904 | €83,401 | €110,953 | €132,514 | €39,659 | €33,697 | ▼ 15.0% |
| Profit (loss) for the period to be appropriated9905 | €83,401 | €110,953 | €132,514 | €39,659 | €33,697 | ▼ 15.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €287,660 | €217,715 | €281,843 | €269,866 | €243,444 | ▼ 9.8% |
| Fixed assets21/28 | €919 | €7,537 | €7,167 | €4,913 | €5,620 | ▲ 14.4% |
| Tangible fixed assets22/27 | €919 | €7,537 | €7,167 | €4,913 | €5,620 | ▲ 14.4% |
| Furniture and vehicles24 | - | €7,537 | €7,167 | €4,913 | €5,620 | ▲ 14.4% |
| Current assets29/58 | €286,740 | €210,178 | €274,676 | €264,953 | €237,825 | ▼ 10.2% |
| Amounts receivable within one year40/41 | €15,096 | €14,525 | €14,520 | €48,712 | €15,857 | ▼ 67.4% |
| Trade receivables40 | - | €14,520 | €14,520 | €47,118 | €15,040 | ▼ 68.1% |
| Other amounts receivable41 | - | €5 | €0 | €1,594 | €817 | ▼ 48.8% |
| Current investments50/53 | €44,595 | €0 | - | - | - | - |
| Cash at bank and in hand54/58 | €225,147 | €190,195 | €257,128 | €169,462 | €188,479 | ▲ 11.2% |
| Deferred charges and accrued income490/1 | - | €5,459 | €3,028 | €46,779 | €33,488 | ▼ 28.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €287,660 | €217,715 | €281,843 | €269,866 | €243,444 | ▼ 9.8% |
| Equity10/15 | €84,728 | €125,681 | €205,255 | €188,414 | €18,600 | ▼ 90.1% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €66,128 | €107,081 | €186,655 | €169,814 | €0 | ▼ 100% |
| Distributable reserves133 | - | €107,081 | €186,655 | €169,814 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €202,931 | €92,034 | €76,588 | €81,452 | €224,844 | ▲ 176% |
| Amounts payable within one year42/48 | €202,931 | €92,034 | €76,588 | €81,452 | €223,827 | ▲ 175% |
| Financial debts43 | - | €9,782 | €1,975 | €300 | €1,031 | ▲ 244% |
| Credit institutions430/8 | - | €9,782 | €1,975 | €300 | €1,031 | ▲ 244% |
| Trade debts44 | €372 | €731 | €742 | €3,118 | €1,435 | ▼ 54.0% |
| Suppliers440/4 | - | €731 | €742 | €3,118 | €1,435 | ▼ 54.0% |
| Taxes, remuneration and social security45 | - | €4,449 | €2,767 | €4,751 | €2,020 | ▼ 57.5% |
| Taxes450/3 | - | €4,449 | €2,767 | €4,751 | €2,020 | ▼ 57.5% |
| Other amounts payable47/48 | - | €77,071 | €71,104 | €73,283 | €219,342 | ▲ 199% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,017 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €83,401 | €110,953 | €132,514 | €39,659 | €33,697 | ▼ 15.0% |
| + Depreciation and write-downs630 | €198 | €1,025 | €1,876 | €2,254 | €2,613 | ▲ 15.9% |
| Operating cash flow (approximation) | €83,598 | €111,978 | €134,390 | €41,913 | €36,310 | ▼ 13.4% |
| Investment in fixed assets (approximation) | - | -€7,643 | -€1,506 | €0 | -€3,319 | - |
| Change in cash | - | -€34,952 | €66,933 | -€87,666 | €19,018 | ▲ 122% |
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
02-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
05-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €132,514 ▲19.4%
Operating result €171,618, net result €132,514, both a record.
31-12
Financial
Equity above €200,000Eq €205,255 ▲63.3%
6 profitable years in a row build equity to €205,255.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100,000Eq €125,681 ▲48.3%
5 profitable years in a row build equity to €125,681.
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €150,000Eq €176,328 ▲111%
3 profitable years in a row build equity to €176,328.
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
08-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Lommel · 1 establishment unit since 2018
Ground area
985 m²
Building footprint
164 m²
Volume, LiDAR
928 m³
Parcel 72020C1288/00N000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GECUMAN
since 20182.277.209.414
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72020C1288/00N000 | Flanders | 985 m² | 1 · 164 m² | 8.8 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.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,799. 7,170 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
Founded28-06-2018
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0698936765
Also
9925:BE0698936765
Registered
16-04-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.