Equity
€24,355 ▼ 78.9%
Equity fell in 2025 from €115,373 to €24,355.
GembaS
Overview
Lifetime
3 annual accounts with figures on one time axispeak €80,272 (2025)
€80,272▲ 3.2%
peak €60,974 (2024)
€59,365▼ 2.6%
peak €115,373 (2024)
€24,355▼ 78.9%
€195,145▲ 513%
Board1 name since 2022
1 directorKESTENS Stefaan
Documentsfilings and deeds
10-08-2026102 days late
2025micro format
Dividend €150,000Equity from €115,373 to €24,355Debts from €31,814 to €195,145Investments €21,661
Key points
from the 2025 annual accountsDebts
€195,145 89% of the balance sheet
Financial debts 9%Taxes and wages 22%Other 70%
Of this, €178,145 falls due within a year.
Investments
€21,864 5.8 × depreciation
Green is investment, beige is depreciation.
Liquidity
1.12 was 4.58 in 2024
Short-term debts rose from €31,814 to €178,145.
Filings
3 annual accounts 102 days
Latest accounts filed late: after the legal deadline.
Position in the sector
11.1%
Lower solvency than 82% of companies in head offices and management consultancy. Sector median 55.5% · 39,364 companies.
Checked score
55
Fair
Financially stronger than 39% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: 1.5% to 4.2%
A confirmed filing finding caps the score at 59.
Bankruptcy probability within 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%lowest value
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.2%▲ +0.1 percentage points vs 04-2025
06-2025: 0.3%▲ +0.1 percentage points vs 05-2025
07-2025: 0.6%▲ +0.3 percentage points vs 06-2025
08-2025: 0.6%● unchanged vs 07-2025
09-2025: 0.8%▲ +0.2 percentage points vs 08-2025
10-2025: 1.3%▲ +0.5 percentage points vs 09-2025highest value
11-2025: 1.3%● unchanged vs 10-2025highest value
12-2025: 0.3%▼ -1.0 percentage point vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.3%● unchanged vs 01-2026
03-2026: 0.3%● unchanged vs 02-2026
04-2026: 0.3%● unchanged vs 03-2026
05-2026: 0.3%● unchanged vs 04-2026
06-2026: 0.3%● unchanged vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.3%● unchanged vs 07-2026
09-2026: 0.3%● unchanged vs 08-2026
10-2026: 0.3%● unchanged vs 09-2026
11-2026: 0.3%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Capped at 59: a confirmed filing finding
Last filed accounts filed 102 days late; 3 of the last 3 accounts late
lowers risk
Sector: Activities of head offices; management consultancy activities (NACE 70)
Liquidity: current ratio 1.12, cash €97,224
Size: total assets €219,500
Calculation
The band follows from the bankruptcy probability. 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 70, micro). It does better than 17% of them on solvency, 46% on liquidity, 84% on profitability and 7% on growth.
The bankruptcy probability was computed on 08-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-09-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 7,976 companies had the same profile as GembaS has now. Each dot stands for 20 companies, two years later.
94.3%
were still trading
1.8%
stopped another way
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of GembaS itself is lower: 0.3% within 12 months. It rests on far more data about GembaS than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,976 companies, not a prediction for GembaS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €1,000 on 30-day terms, only on tighter conditions: the latest accounts were filed more than 90 days after the deadline
Liquidity is tight, with a current ratio of 1.12 (4.58 in 2024), below the usual 1.5. Short-term debt is 81.2% and cash 44.3% of total assets. 88.9% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 39364 sector peers (2025).
NBB · sector comparisonPosition among 39364 sector peers
Solvency
better than 17%
← weakest
strongest →
raises risk · 2025 accounts filed 102 days late
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 10-08-2026, 102 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 3 filingsDeviation from the deadline
2025
102 days late
2024
203 days late
2023
113 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 139 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 22 August (3 of the last 3 accounts filed within 89 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end09-11-2026 today30-04-2027 deadline
Board and ownership
- KESTENS Stefaan 50 sharesdeed of 28-12-2022
- AMERIJCKX Elien 50 sharesdeed of 28-12-2022
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0795355458
Incorporation
Founding capital of €3,000, 100 shares · Founders: KESTENS Stefaan and AMERIJCKX Elien · Appointment: KESTENS Stefaan (director) · published on 28-12-2022 · Gazette deed
First establishment
Valerius De Saedeleerstraat 28, Aalst
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GembaS Aalst | €219,500 | €80,272 | 11.1% | - |
| JDN Consult Aalst | €225,883 | €82,896 | 89.2% | - |
| PDV Consulting Aalst | €218,976 | €79,844 | 64.9% | - |
| Bubo Bubo Consult Aalst | €178,834 | €89,571 | 95.3% | - |
| Avannti Laarne | €216,775 | €77,491 | 93.5% | - |
| TITO Zulte | €207,843 | €80,755 | 86.1% | - |
| ALGOTEC Destelbergen | €212,405 | €82,943 | 71.8% | - |
These companies have the same main activity as GembaS: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €179,000 and €226,000, founded between 2022 and 2023.
Official details
Source: KBO- Status
- Active since 23-12-2022Normal situation
- Activity
- Business and other management consultancyNACE 70200and 4 others
- Establishment unit
- 2.343.258.8909300 Aalst, since 23-12-2022
- Financial year end
- 30 September
- Peppol
- Reachable since 12-12-2025
Annual accounts to 30-09-2025
- €80,272▲ 3.2%
- ≈ €160,000estimated
- €59,365▼ 2.6%
- €24,355▼ 78.9%
- €219,500▲ 49.1%
- Filing
- Filed on 10-08-2026
Insights on GembaS
GembaS files the micro format. That format states no turnover. The gross margin rose from €65,412 in 2023 to €80,272 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 10-08-2026, 102 days late€80,272
▲ 3.2%
€76,176
▼ 1.7%
€59,365
▼ 2.6%
€22,015
▼ 80.7%
11.1%
▼ 67.3 percentage points
1.12
▼ 3.46
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €160,000. Estimated: probably between €120,000 and €210,000.
Balance sheet
balance sheet total €219,500 on 30-09-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
11.1%
Higher than 17% of 39,364 companies in 2025.
1.12
Higher than 29% of 38,048 companies in 2025.
27.0%
Higher than 68% of 38,520 companies in 2025.
GembaS
Middle half of the sector
80% of the sector
Micro accounts in head offices and management consultancy (NACE 70)
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
219,500 | 147,187 | 84,193 | |
21/28 |
19,340 | 1,438 | - | |
22/27 |
19,340 | 1,438 | - | |
24 |
19,340 | 1,438 | - | |
29/58 |
200,160 | 145,749 | 84,193 | |
40/41 |
102,936 | 16,540 | 3,404 | |
40 |
0 | 16,536 | 3,404 | |
41 |
102,936 | 4 | - | |
54/58 |
97,224 | 128,060 | 80,788 | |
490/1 |
0 | 1,148 | - | |
| Balance sheet: equity and liabilities | ||||
10/49 |
219,500 | 147,187 | 84,193 | |
10/15 |
24,355 | 115,373 | 54,398 | |
10/11 |
3,000 | 3,000 | 3,000 | |
13 |
0 | 112,373 | 51,000 | |
133 |
0 | 112,373 | 51,000 | |
14 |
21,355 | 0 | 398 | |
17/49 |
195,145 | 31,814 | 29,794 | |
17 |
17,000 | - | - | |
170/4 |
17,000 | - | - | |
42/48 |
178,145 | 31,814 | 29,794 | |
44 |
- | 1,133 | 3,386 | |
440/4 |
- | 1,133 | 3,386 | |
45 |
42,189 | 27,864 | 25,889 | |
450/3 |
42,189 | 27,864 | 25,889 | |
47/48 |
135,956 | 2,817 | 520 | |
| Income statement | ||||
9900 |
80,272 | 77,814 | 65,412 | |
630 |
3,759 | 204 | - | |
640/8 |
337 | 141 | 402 | |
9901 |
76,176 | 77,470 | 65,010 | |
75/76B |
353 | 2 | - | |
75 |
353 | 2 | - | |
65/66B |
164 | 109 | 50 | |
65 |
164 | 109 | 50 | |
9903 |
76,365 | 77,363 | 64,960 | |
67/77 |
17,000 | 16,389 | 13,562 | |
9904 |
59,365 | 60,974 | 51,398 | |
9905 |
59,365 | 60,974 | 51,398 | |
| Appropriation of the result | ||||
9906 |
59,365 | 61,373 | 51,398 | |
14P |
0 | 398 | - | |
791/2 |
111,990 | - | - | |
691/2 |
- | 61,373 | 51,000 | |
6921 |
- | 61,373 | 51,000 | |
694/7 |
150,000 | - | - | |
694 |
150,000 | - | - | |
| Document | ||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 10-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 79,935 | 77,674 | - | ||
| 63,124 | 61,178 | - | ||
| 21,864 | 1,641 | - | ||
| -30,836 | 47,272 | - | ||
| 22,015 | 113,935 | 54,398 | ||
| 11.1% | 78.4% | 64.6% | ||
| 1.12 | 4.58 | 2.83 | ||
| 8.01 | 0.28 | 0.55 | ||
| 243.7% | 52.8% | 94.5% | ||
| 27.0% | 41.4% | 61.0% | ||
| over 100 | over 100 | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 |
|---|---|---|---|
| Tangible fixed assets | €21,864 | €1,641 | - |
| €3,759 | €204 | - |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on GembaS
The operating result for 2025 is 2% lower than in 2024.
Debt's share of the balance-sheet total rises from 21.6% to 88.9%. Equity is lower and debt is higher.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
appointed by deed of 28-12-2022
term without a fixed end
listed in the 2024 annual accounts, filed on 19-11-2025
Mandates through the years
1 name, the dashed line is todayKESTENS Stefaan
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- KESTENS Stefaan
- Director (not named in the articles), appointed by deed of 28-12-2022, still in office
Control
Capital
- Contribution
- €3,000
- Shares
- 100
- Contribution per share
- €30
- Equity per share
- €244 in 2025
- Source
- deed of 28-12-2022
Articles of association
deed of 28-12-2022 (in Dutch)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Saturday of March at 20:00
Shareholders
At incorporation
deed of 28-12-2022 ↗
- KESTENS Stefaan 50 shares (50%) · €1,500
- AMERIJCKX Elien 50 shares (50%) · €1,500
Capital transactions
Capital over time
- 28-12-2022 Incorporation · €3,000 · 100 shares
- 28-12-2022 Incorporation · 100 shares
Network & group
No group
GembaS has no parent and no holdings in its annual accounts. KESTENS Stefaan is the only director. GembaS shares no director with another company.
Timeline
Timeline
8 events since 2022Filings
Financial
Establishments
20222023202420252026
Deadline for the 2026 accounts: 30-04-2027
2026
Annual accounts 2025 filed PDFmicro format · 102 days late
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0795355458
Annual accounts 2024 filed PDFmicro format · 203 days late
2024
Highest result from 2023 to 2025 net €60,974 ▲18.6% The operating result of €77,470 and the net result of €60,974 are both a record.
Equity above €100,000 equity €115,373 ▲112% With a profit in every financial year since 2023, equity grows to €115,373.
Annual accounts 2023 filed PDFmicro format · 113 days late
2022
IncorporationFounding capital of €3,000, 100 shares · Founders: KESTENS Stefaan and AMERIJCKX Elien · Appointment: KESTENS Stefaan (director) · published on 28-12-20228 points ▸
- Founder, KESTENS Stefaan
- Founder, AMERIJCKX Elien
- Founding capital, €3,000, 100 shares
- KESTENS Stefaan holds 50 shares
- AMERIJCKX Elien holds 50 shares
- 100 shares
- Registered office clause, Valerius De Saedeleerstraat 28, 9300 Aalst
- Director appointment, KESTENS Stefaan (director (not named in the articles))
- The deed holds 3 more points.
First establishment Valerius De Saedeleerstraat 28, Aalst
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
GembaS was incorporated on 23 December 2022 as a private limited company by two natural persons, with a starting capital of €3,000.12 KESTENS Stefaan is director of the company, appointed by deed of 28-12-2022.2 Total assets rose from €84,193 in 2023 to €219,500 in 2025.3
Company details
Identity
- Enterprise number
- 0795.355.458
- VAT number
- BE 0795.355.458
- Peppol ID
- 0208:0795355458
- Other Peppol ID
- 9925:BE0795355458
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 23-12-2022
- Financial year
- ends on 30 September
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Saturday of March at 20:00deed of 28-12-2022 (in Dutch)
- Peppol
- Reachable since 12-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- GembaS in Dutch
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 28-12-2022 (in Dutch)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Valerius De Saedeleerstraat 28, 9300 Aalst”deed of 28-12-2022 (in Dutch)
Activities
NACEBEL 202570200
Business and other management consultancy main activity
85599
Other education
Codes under NACEBEL 2008
70220
Business consulting main activity
62020
IT consultancy
70210
Activities of head offices; management consultancy activities
78100
Employment placement agencies
85599
Other education
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Het verlenen van diensten en praktische hulp inzake consultancy,adviesverlening,HR,administratieve prestaties,computerservices,public…”deed of 28-12-2022 (in Dutch)
3 activities
- Het verlenen van diensten en praktische hulp inzake consultancy,adviesverlening,HR,administratieve prestaties,computerservices,public relations,communicatie en andere zakelijke dienstverlening en dit in de meest ruime betekenis.
- Overige adviesbureaus op het gebied van bedrijfsvoering en beheer.
- Activiteiten van coaching zoals bijvoorbeeld taalcoach en allerhande aanverwante activiteiten,zoals lesgeven.
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Valerius De Saedeleerstraat 28 registered office 9300 Aalst | 23-12-2022 | 2.343.258.890 |
Buildings and parcels at the address
- Ground area
- 333 m²
- Buildings
- 125 m²
- Volume, LiDAR
- 966 m³
- Tallest building
- 13.0 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 41302C1018/00G005 | 333 m² | 1 · 125 m² | 13.0 m · 3 |