GEDES
ActiveSummary
GEDES has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €705,475 and a net result of €153,547. Equity is growing by ~30.7% per year across the filed fiscal years. Its solvency ranks better than 53% of 8160 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▼-3
Solvency72▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 2.93 against 4.68 in 2024; short-term debt: 17.4% and cash: 18.5% of total assets), but 53.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
46.7%
Return on assets
10.2%
Age of the figures
12 mo
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-03-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
21 d early
2023
25 d early
2022
33 d early
2021
33 d early
2020
21 d early
2019
31 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 28 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money How does this company compare with its sector?Sector benchmark
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€705,475▲ 22.3%
2024 · €576,928
Total assets
€1.5m▲ 3.7%
2024 · €1.5m
Net result
€153,547▼ 15.4%
2024 · €181,502
Working capital
€505,458▼ 1.3%
2024 · €512,367
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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€24,796€125,573▲ 406%€345,093▲ 175%€284,712▼ 17.5%€252,389▼ 11.4%
Net result-€3,732below the sector's middle half▲ 95.2%€106,077within the sector's middle half€224,136above the sector's middle half▲ 111%€181,502above the sector's middle half▼ 19.0%€153,547above the sector's middle half▼ 15.4%
Equity€65,214below the sector's middle half▼ 5.4%€171,290within the sector's middle half▲ 163%€395,427within the sector's middle half▲ 131%€576,928within the sector's middle half▲ 45.9%€705,475within the sector's middle half▲ 22.3%
Total assets€1.4mwithin the sector's middle half▼ 4.7%€1.5mwithin the sector's middle half▲ 7.9%€1.5mwithin the sector's middle half▲ 3.6%€1.5mwithin the sector's middle half▼ 3.7%€1.5mwithin the sector's middle half▲ 3.7%
Debt€1.3m▼ 4.7%€1.3m▲ 0.1%€1.1m▼ 13.3%€879,403▼ 21.3%€804,782▼ 8.5%
Working capital€41,643below the sector's middle half▼ 59.3%€164,449within the sector's middle half▲ 295%€381,811within the sector's middle half▲ 132%€512,367within the sector's middle half▲ 34.2%€505,458within the sector's middle half▼ 1.3%
Solvency4.8%below the sector's middle half=11.7%below the sector's middle half▲ 6.9pp26.1%within the sector's middle half▲ 14.4pp39.6%within the sector's middle half▲ 13.5pp46.7%within the sector's middle half▲ 7.1pp
Current ratio1.10below the sector's middle half▼ 0.111.36within the sector's middle half▲ 0.262.17within the sector's middle half▲ 0.814.68above the sector's middle half▲ 2.512.93within the sector's middle half▼ 1.75
Return on assets (ROA)-0.3%below the sector's middle half▲ 5.2pp7.3%within the sector's middle half▲ 7.5pp14.8%above the sector's middle half▲ 7.6pp12.5%above the sector's middle half▼ 2.4pp10.2%within the sector's middle half▼ 2.3pp
Staff (FTE)0.3below the sector's middle half0.1below the sector's middle half▼ 66.7%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or 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 11% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€742,662 ▼ 7.7%
Current assets
€767,595 ▲ 17.8%
Equity and liabilities €1.5m
Equity
€705,475 ▲ 22.3%
Debt
€804,782 ▼ 8.5%
Debt's share of the balance-sheet total falls from 60.4% to 53.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€320,064▼
2024 · €346,672
Cash flow
€221,222▼
2024 · €243,461
Quick ratio
2.55▼
2024 · 4.01
Debt to equity
1.14▼
2024 · 1.52
ROE
21.8%▼
2024 · 31.5%
Interest coverage
15.78▲
2024 · 12.69
Debt ≤ 1 year
€262,138▲
2024 · €139,374
Debt > 1 year
€542,645▼
2024 · €740,029
Income taxes
€85,022▲
2024 · €79,382
Staff costs
€18,498▲
2024 · €14,190
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 34,679 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €21,166 | - |
| Remuneration, social security and pensions62 | - | €3,889 | €611 | €14,190 | €18,498 | ▲ 30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €57,388 | €62,071 | €62,732 | €61,960 | €67,675 | ▲ 9.2% |
| Other operating charges640/8 | - | €692 | €9,433 | €8,211 | €14,958 | ▲ 82.2% |
| Non-recurring operating charges66A | - | €62 | €100 | €108 | €53 | ▼ 51.0% |
| Gross operating margin9900 | €88,279 | €192,287 | €417,969 | €369,181 | €353,572 | ▼ 4.2% |
| Operating profit (loss)9901 | €24,796 | €125,573 | €345,093 | €284,712 | €252,389 | ▼ 11.4% |
| Financial income75/76B | - | €2,733 | €6,632 | €3,485 | €6,461 | ▲ 85.4% |
| Recurring financial income75 | €5,386 | €2,733 | €6,632 | €3,485 | €6,461 | ▲ 85.4% |
| Financial charges65/66B | - | €15,385 | €29,118 | €27,314 | €20,281 | ▼ 25.8% |
| Recurring financial charges65 | €33,700 | €15,385 | €29,118 | €27,314 | €20,281 | ▼ 25.8% |
| Profit (loss) for the period before taxes9903 | -€3,518 | €112,920 | €322,607 | €260,883 | €238,569 | ▼ 8.6% |
| Income taxes67/77 | €214 | €6,844 | €98,471 | €79,382 | €85,022 | ▲ 7.1% |
| Profit (loss) for the period9904 | -€3,732 | €106,077 | €224,136 | €181,502 | €153,547 | ▼ 15.4% |
| Profit (loss) for the period to be appropriated9905 | -€3,732 | €106,077 | €224,136 | €181,502 | €153,547 | ▼ 15.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.5m | €1.5m | €1.5m | €1.5m | ▲ 3.7% |
| Fixed assets21/28 | €906,954 | €840,803 | €804,575 | €804,590 | €742,662 | ▼ 7.7% |
| Intangible fixed assets21 | €3,129 | €1,565 | - | - | - | - |
| Tangible fixed assets22/27 | €894,773 | €830,187 | €795,523 | €795,538 | €733,611 | ▼ 7.8% |
| Land and buildings22 | - | €606,288 | €578,656 | €551,024 | €523,392 | ▼ 5.0% |
| Plant, machinery and equipment23 | - | €219,607 | €213,872 | €242,816 | €209,619 | ▼ 13.7% |
| Furniture and vehicles24 | - | €4,292 | €2,995 | €1,698 | €600 | ▼ 64.7% |
| Financial fixed assets28 | €9,052 | €9,052 | €9,052 | €9,052 | €9,052 | = |
| Current assets29/58 | €446,085 | €619,206 | €708,204 | €651,741 | €767,595 | ▲ 17.8% |
| Stocks and contracts in progress3 | €171,544 | €96,459 | €95,283 | €92,543 | €99,929 | ▲ 8.0% |
| Stocks30/36 | - | €96,459 | €95,283 | €92,543 | €99,929 | ▲ 8.0% |
| Amounts receivable within one year40/41 | €173,823 | €208,147 | €222,067 | €333,408 | €388,289 | ▲ 16.5% |
| Trade receivables40 | - | €208,147 | €221,955 | €251,304 | €360,430 | ▲ 43.4% |
| Other amounts receivable41 | - | - | €113 | €82,104 | €27,859 | ▼ 66.1% |
| Cash at bank and in hand54/58 | €100,718 | €314,599 | €390,853 | €225,791 | €279,377 | ▲ 23.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.5m | €1.5m | €1.5m | €1.5m | ▲ 3.7% |
| Equity10/15 | €65,214 | €171,290 | €395,427 | €576,928 | €705,475 | ▲ 22.3% |
| Contributions10/11 | - | €76,470 | €76,470 | €76,470 | €76,470 | = |
| Outside capital11 | - | €76,470 | €76,470 | €76,470 | €76,470 | = |
| Other1109/19 | - | €76,470 | €76,470 | €76,470 | €76,470 | = |
| Reserves13 | €27,624 | €93,924 | €318,060 | €499,560 | €628,060 | ▲ 25.7% |
| Non-distributable reserves130/1 | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | €764 | €764 | €764 | €764 | = |
| Distributable reserves133 | - | €91,300 | €317,296 | €498,796 | €627,296 | ▲ 25.8% |
| Profit (loss) carried forward14 | -€38,880 | €896 | €896 | €898 | €945 | ▲ 5.2% |
| Amounts payable17/49 | €1.3m | €1.3m | €1.1m | €879,403 | €804,782 | ▼ 8.5% |
| Amounts payable after more than one year17 | €883,383 | €833,961 | €790,959 | €740,029 | €542,645 | ▼ 26.7% |
| Financial debts170/4 | - | €833,961 | €790,959 | €740,029 | €542,645 | ▼ 26.7% |
| Amounts payable within one year42/48 | €404,442 | €454,757 | €326,393 | €139,374 | €262,138 | ▲ 88.1% |
| Current portion of amounts payable after more than one year42 | - | €48,252 | €44,222 | €30,867 | €31,277 | ▲ 1.3% |
| Financial debts43 | - | €100,000 | - | - | - | - |
| Credit institutions430/8 | - | €100,000 | - | - | - | - |
| Trade debts44 | €248,546 | €229,620 | €152,125 | €67,003 | €168,366 | ▲ 151% |
| Suppliers440/4 | - | €229,620 | €152,125 | €67,003 | €168,366 | ▲ 151% |
| Taxes, remuneration and social security45 | - | €37,227 | €126,352 | €41,504 | €62,495 | ▲ 50.6% |
| Taxes450/3 | - | €34,474 | €126,352 | €34,663 | €52,994 | ▲ 52.9% |
| Remuneration and social security454/9 | - | €2,753 | - | €6,840 | €9,501 | ▲ 38.9% |
| Other amounts payable47/48 | - | €39,658 | €3,694 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,732 | €106,077 | €224,136 | €181,502 | €153,547 | ▼ 15.4% |
| + Depreciation and write-downs630 | €57,388 | €62,071 | €62,732 | €61,960 | €67,675 | ▲ 9.2% |
| Operating cash flow (approximation) | €53,656 | €168,148 | €286,868 | €243,461 | €221,222 | ▼ 9.1% |
| Investment in fixed assets (approximation) | - | €4,080 | -€26,504 | -€61,975 | -€5,747 | ▲ 90.7% |
| Change in cash | - | €213,881 | €76,254 | -€165,063 | €53,586 | ▲ 132% |
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
30-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
09-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Liquidity doublescurrent ratio 4.68
Current ratio from 2.17 to 4.68; short-term debt falls from €326,393 to €139,374.
30-09
Financial
Equity above €500,000Eq €576,928 ▲45.9%
3 profitable years in a row build equity to €576,928.
05-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Highest result since 2018net €224,136 ▲111%
Operating result €345,093, net result €224,136, both a record.
30-09
Financial
Equity above €200,000Eq €395,427 ▲131%
2 profitable years in a row build equity to €395,427.
28-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Back to profitnet €106,077
Net result €106,077 after 2 loss-making years.
30-09
Financial
Equity above €150,000Eq €171,290 ▲163%
Equity rises from €65,214 to €171,290.
28-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Show earlier events
2020
30-09
Financial
Weakest financial yearnet -€78,396
Net result drops to -€78,396, the lowest in the series; recovery starts the following year.
30-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Back to profitnet €28,407
Net result €28,407 after one loss-making year.
03-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
15-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Wingene · 1 establishment unit since 2008
Ground area
1,869 m²
Building footprint
634 m²
Volume, LiDAR
2,241 m³
Parcel 37018C0207/00C002, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GEDES BVBA
since 20082.170.439.237
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37018C0207/00C002 | Flanders | 1,869 m² | 1 · 634 m² | 9.4 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 188 EUR awarded · 188 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 188 EUR | 188 EUR |
Similar companies · same sector, comparable size
Liu Jo Benelux
BE 0695.861.667
Antwerpen · Eq €705,291
VANIOS
BE 0694.734.883
Villers-la-Ville · Eq €665,003
Tremdecor
BE 0503.864.124
Tremelo · Eq €622,670
HURRAY DISTRIBUTION
BE 0546.764.650
Sint-Niklaas · Eq €799,851
TOP - CHOICE
BE 0433.035.219
Wielsbeke · Eq €608,213
Of 235 companies in sector 46419 we hold annual accounts for 130. 66 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
Founded11-03-2008
Fiscal year end30-09
Activities, NACEBEL 2025
46419Wholesale trade
47714Retail trade
47120Other non-specialised retail sale
Contact
Website
www.gedes.be
E-mail
info@gedes.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0896374822
Registered
24-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.