GEMKA
ActiveSummary
GEMKA has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €88,283 and a net result of €8,824. Equity is growing by ~8.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80=
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 2.17 against 2.01 in 2024; short-term debt: 11.9% and cash: 25.8% of total assets), and 12.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
87.3%
Return on assets
8.7%
Age of the figures
9 mo
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 09-05-2026, 83 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
83 d early
2024
77 d early
2023
69 d early
2022
76 d early
2021
75 d early
2020
72 d early
2019
73 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 75 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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
€88,283▲ 11.1%
2024 · €79,459
Total assets
€101,072▲ 15.7%
2024 · €87,385
Net result
€8,824▲ 10.2%
2024 · €8,008
Working capital
€14,076▲ 75.6%
2024 · €8,015
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€773▼ 83.1%€8,018▲ 937%€7,093▼ 11.5%€11,077▲ 56.2%€12,160▲ 9.8%
Net result€371▼ 93.4%€6,071▲ 1,536%€5,235▼ 13.8%€8,008▲ 53.0%€8,824▲ 10.2%
Equity€60,145▲ 0.6%€66,216▲ 10.1%€71,451▲ 7.9%€79,459▲ 11.2%€88,283▲ 11.1%
Total assets€97,528▼ 3.5%€106,104▲ 8.8%€89,417▼ 15.7%€87,385▼ 2.3%€101,072▲ 15.7%
Debt€37,383▼ 9.4%€39,888▲ 6.7%€17,966▼ 55.0%€7,926▼ 55.9%€12,789▲ 61.4%
Working capital-€22,644▼ 7.5%-€11,241▲ 50.4%-€5,743▲ 48.9%€8,015€14,076▲ 75.6%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 10% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €101,072
Fixed assets
€74,977 ▲ 4.9%
Current assets
€26,095 ▲ 63.7%
Equity and liabilities €101,072
Equity
€88,283 ▲ 11.1%
Debt
€12,789 ▲ 61.4%
Debt's share of the balance-sheet total rises from 9.1% to 12.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€18,323▲
2024 · €16,826
Cash flow
€14,987▲
2024 · €13,757
Current ratio
2.17▲
2024 · 2.01
Debt to equity
0.14▲
2024 · 0.10
ROE
10.0%▼
2024 · 10.1%
ROA
8.7%▼
2024 · 9.2%
Interest coverage
269.46▼
2024 · 580.21
Debt ≤ 1 year
€12,019▲
2024 · €7,926
Income taxes
€3,268▲
2024 · €3,040
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
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 0.7% 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 31,349 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,885 | €5,332 | €5,347 | €5,749 | €6,163 | ▲ 7.2% |
| Other operating charges640/8 | €2,349 | €2,397 | €2,678 | €2,740 | €2,811 | ▲ 2.6% |
| Gross operating margin9900 | €8,007 | €15,747 | €15,118 | €19,566 | €21,134 | ▲ 8.0% |
| Operating profit (loss)9901 | €773 | €8,018 | €7,093 | €11,077 | €12,160 | ▲ 9.8% |
| Financial charges65/66B | €23 | €24 | €61 | €29 | €68 | ▲ 134% |
| Recurring financial charges65 | €23 | €24 | €61 | €29 | €68 | ▲ 134% |
| Profit (loss) for the period before taxes9903 | €750 | €7,994 | €7,032 | €11,048 | €12,092 | ▲ 9.4% |
| Income taxes67/77 | €379 | €1,923 | €1,797 | €3,040 | €3,268 | ▲ 7.5% |
| Profit (loss) for the period9904 | €371 | €6,071 | €5,235 | €8,008 | €8,824 | ▲ 10.2% |
| Profit (loss) for the period to be appropriated9905 | €371 | €6,071 | €5,235 | €8,008 | €8,824 | ▲ 10.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €97,528 | €106,104 | €89,417 | €87,385 | €101,072 | ▲ 15.7% |
| Fixed assets21/28 | €82,789 | €77,457 | €77,194 | €71,444 | €74,977 | ▲ 4.9% |
| Tangible fixed assets22/27 | €82,789 | €77,457 | €77,194 | €71,444 | €74,977 | ▲ 4.9% |
| Land and buildings22 | €82,789 | €77,457 | €77,194 | €71,444 | €74,977 | ▲ 4.9% |
| Current assets29/58 | €14,739 | €28,647 | €12,223 | €15,941 | €26,095 | ▲ 63.7% |
| Cash at bank and in hand54/58 | €14,521 | €28,647 | €12,223 | €15,941 | €26,095 | ▲ 63.7% |
| Deferred charges and accrued income490/1 | €218 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €97,528 | €106,104 | €89,417 | €87,385 | €101,072 | ▲ 15.7% |
| Equity10/15 | €60,145 | €66,216 | €71,451 | €79,459 | €88,283 | ▲ 11.1% |
| Contributions10/11 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Capital10 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Issued capital100 | €30,987 | €30,987 | €30,987 | €30,987 | €30,987 | = |
| Reserves13 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Non-distributable reserves130/1 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Legal reserve130 | €3,099 | €3,099 | €3,099 | €3,099 | €3,099 | = |
| Profit (loss) carried forward14 | €26,059 | €32,130 | €37,365 | €45,373 | €54,197 | ▲ 19.4% |
| Amounts payable17/49 | €37,383 | €39,888 | €17,966 | €7,926 | €12,789 | ▲ 61.4% |
| Amounts payable within one year42/48 | €37,383 | €39,888 | €17,966 | €7,926 | €12,019 | ▲ 51.6% |
| Trade debts44 | - | - | €2,345 | - | €2,449 | - |
| Suppliers440/4 | - | - | €2,345 | - | €2,449 | - |
| Taxes, remuneration and social security45 | - | €1,923 | €1,797 | €3,040 | €3,268 | ▲ 7.5% |
| Taxes450/3 | - | €1,923 | €1,797 | €3,040 | €3,268 | ▲ 7.5% |
| Other amounts payable47/48 | €37,383 | €37,965 | €13,824 | €4,886 | €6,302 | ▲ 29.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | €770 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €371 | €6,071 | €5,235 | €8,008 | €8,824 | ▲ 10.2% |
| + Depreciation and write-downs630 | €4,885 | €5,332 | €5,347 | €5,749 | €6,163 | ▲ 7.2% |
| Operating cash flow (approximation) | €5,256 | €11,403 | €10,582 | €13,757 | €14,987 | ▲ 8.9% |
| Investment in fixed assets (approximation) | - | €0 | -€5,084 | €1 | -€9,696 | ▼ 969,700% |
| Change in cash | - | €14,126 | -€16,424 | €3,718 | €10,154 | ▲ 173% |
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
09-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €8,824 ▲10.2%
Operating result €12,160, net result €8,824, both a record.
15-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 2.01
Current ratio from 0.68 to 2.01; short-term debt falls from €17,966 to €7,926.
23-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
16-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
17-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €371 ▼93.4%
Net result drops to €371, the lowest in the series; recovery starts the following year.
20-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
19-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
22-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · 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, Sint-Niklaas · 1 establishment unit since 1998
Ground area
585 m²
Building footprint
169 m²
Volume, LiDAR
751 m³
Parcel 46447B0765/00D000, Flanders · tallest building 9.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Vlasstraat 29, 9100 Sint-Niklaas
since 19982.089.657.637
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46447B0765/00D000 | Flanders | 585 m² | 1 · 169 m² | 9.2 m · 1 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.
Identification & contact
Identification
Legal formPrivate limited company
Founded14-12-1998
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0464750556
Also
9925:BE0464750556
Registered
23-01-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.