Gemini Research
ActiveGemini Research has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.38M and a net result of €18k. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 64% of 4829 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability61▲+11
Solvency60▲+2
Growth68=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18k at 30 days acceptable
Liquidity short (current ratio 0.07 against 0.06 in 2023), and 51.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
48.7%
Return on assets
0.6%
Age of the figures
20 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-06-2025, 44 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
44 d early
2023
75 d early
2022
7 d early
2021
30 d late
2020
61 d late
2019
45 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema
Turnover
€184k▲ 4.0%
2023 · €177k
2018: €140k
2019: €218k
2020: €157k
2021: €157k
2022: €157k
2023: €177k
2018 → 2024
EBIT margin
30.2%▲ 3.2pp
2023 · 27.1%
2018: -38.1%
2019: 15.0%
2020: 27.0%
2021: 24.3%
2022: 24.0%
2023: 27.1%
2018 → 2024
Net result
€18k▲ 133%
2023 · €8k
2018: €-78k
2019: €408
2020: €12k
2021: €7k
2022: €7k
2023: €8k
2018 → 2024
Working capital
€-108k▲ 82.9%
2023 · €-635k
2018: €-504k
2019: €-506k
2020: €-502k
2021: €-560k
2022: €-575k
2023: €-635k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€157k-€157k=€157k=€177k▲ 12.6%€184k▲ 4.0%
Equity€1.33M-€1.34M▲ 0.5%€1.35M▲ 0.5%€1.36M▲ 0.6%€1.38M▲ 1.4%
Operating result€42k-€38k▼ 10.1%€38k▼ 1.1%€48k▲ 27.1%€56k▲ 16.2%
Net result€12k-€7k▼ 39.8%€7k▲ 3.7%€8k▲ 7.8%€18k▲ 133%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 16% above 2023 and is the highest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.82M
Fixed assets
€2.82M▼ 3.1%
Current assets
€8k▼ 77.7%
Equity and liabilities €2.82M
Equity
€1.38M▲ 1.4%
Debt
€1.45M▼ 8.6%
The debt ratio falls from 53.9% to 51.3%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€145k▲
2023 · €135k
Cash flow
€108k▲
2023 · €94k
Solvency
48.7%▲
2023 · 46.1%
Current ratio
0.07▲
2023 · 0.06
Quick ratio
0.07▲
2023 · 0.06
Debt / equity
1.05▼
2023 · 1.17
ROE
1.3%▲
2023 · 0.6%
ROA
0.6%▲
2023 · 0.3%
Interest coverage
3.89▲
2023 · 3.36
Debt
€1.45M▼
2023 · €1.59M
Debt ≤ 1 year
€117k▼
2023 · €673k
Debt > 1 year
€1.33M▲
2023 · €914k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€2.94M€2.82M▼
Fixed assets21/28€2.91M€2.82M▼
Tangible fixed assets22/27€2.91M€2.82M▼
Land and buildings22€2.91M€2.82M▼
Assets under construction and advance payments27€0-
Current assets29/58€38k€8k▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€5k€2k▼
Trade receivables40€5k€2k▼
Other amounts receivable41€0-
Cash at bank and in hand54/58€33k€7k▼
Equity and liabilities
Total equity and liabilities10/49€2.94M€2.82M▼
Equity10/15€1.36M€1.38M▲
Contributions10/11€76k€76k=
Capital10€76k€76k=
Issued capital100€76k€76k=
Revaluation surpluses12€451k€451k=
Reserves13€169k€169k=
Non-distributable reserves130/1€8k€8k=
Legal reserve130€8k€8k=
Tax-exempt reserves132€51k€51k=
Distributable reserves133€111k€111k=
Profit (loss) carried forward14€660k€678k▲
Amounts payable17/49€1.59M€1.45M▼
Amounts payable after more than one year17€914k€1.33M▲
Financial debts170/4€914k€814k▼
Credit institutions173€914k€814k▼
Other amounts payable178/9-€519k
Amounts payable within one year42/48€673k€117k▼
Current portion of amounts payable after more than one year42€98k€100k▲
Trade debts44€960€17k▲
Suppliers440/4€960€17k▲
Advances received on contracts in progress46€64k€0▼
Taxes, remuneration and social security45€5k€0▼
Taxes450/3€5k€0▼
Other amounts payable47/48€504k€0▼
Income statement
Code20232024
Operating income70/76A€177k€184k▲
Turnover70€177k€184k▲
Other operating income74€78€0▼
Operating charges60/66A€129k€128k▼
Services and other goods61€23k€19k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€87k€90k▲
Other operating charges640/8€19k€20k▲
Operating profit (loss)9901€48k€56k▲
Financial charges65/66B€40k€37k▼
Recurring financial charges65€40k€37k▼
Debt charges650€40k€37k▼
Profit (loss) for the period before taxes9903€8k€18k▲
Profit (loss) for the period9904€8k€18k▲
Profit (loss) for the period to be appropriated9905€8k€18k▲
Appropriation of the result
Profit (loss) to be appropriated9906€660k€678k▲
Profit (loss) brought forward from the previous period14P€652k€660k▲
The notes to these accounts (29 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €18k ▲133%
Operating result €56k, net result €18k, both a record.
17-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 61 days late
2020
14-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 45 days late
2019
31-12
Financial
Back to profitnet €408
Net result €408 after one loss-making year.
24-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 85 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
07-11-2025
Bishnu Prasad Agrawal: Resigned as Director
01-07-2025
Vedprakash Lata: Resigned as Director
01-02-2019
Ram Krishan Prajapati: Resigned as Director
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2016
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Waterwilgweg 62050 AntwerpenGround area
2,093 m²
Building footprint
481 m²
Volume, LiDAR
812 m³
Parcel 11813N0223/00E003, Flanders · tallest building 12.1 m. Linked by address, not a title deed.
1 establishment unit
Gemini Research NV
since 20162.301.870.673
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11813N0223/00E003 | Flanders | 2,093 m² | 1 · 481 m² | 12.1 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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 11,974 companies in sector 68203 we hold annual accounts for 5,947. 3,895 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded14-09-2016
Fiscal year end31-12
Activities, NACEBEL
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.