General Development
ActiveSummary
General Development has been active since 1972 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €82,732 and a net result of €9,040. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 12% of 6,167 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 20-11-1972 Normal situation
- Activity
- Wholesale of cars and light vans (up to 3.5 tonnes) NACE 46711and 2 others
- Establishment unit
- 2.022.767.625 1000 Brussel, since 06-03-1976
- Financial year end
- 30 September
- Peppol
- Reachable since 22-12-2025
Board and ownership
- Martin Van JeunManaging director
- Philippe CHABEAUManaging director
- Evgeni RADULOVDirector
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Turnover
- €110,968
- ▲ 15.5%
- Profit
- €9,040
- ▲ 445%
- Equity
- €82,732
- ▲ 12.3%
- Total assets
- €920,098
- ▼ 7.5%
Score breakdownraises riskLiquidity: current ratio 0.37, cash €2,450Equity €82,732 (9.0% of total assets)lowers riskSize: turnover €110,968, total assets €920,098Founded in 1972Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 46, micro). It does better than 23% of them on solvency, 39% on liquidity, 27% on profitability and 72% on growth.
The bankruptcy probability was computed on 01-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 1 day before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 28-04-2026 PDF all 42 filings
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is a loss of €25,802, after a profit of €15,649 in 2024. It is the lowest result since 2021.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €303,000 | €66,702 | €15,892 | €17,525 |
| Depreciation and write-downs of the year | €11,102 | €15,617 | €24,934 | €29,881 | €33,268 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as General Development: wholesale of cars and light vans (up to 3.5 tonnes) (NACE 46711). They are comparable in size and age: total assets between €446,000 and €1.2m, founded between 1969 and 1987.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| General Development Elsene | 1972 | €0.9m | €0.08m | €0.07m | €0.1m | €0.009m | - | 2025 |
| Facar Sint-Jans-Molenbeek | 1987 | €1.2m | €0.7m | €0.06m | - | -€0.02m | 0.5 | 2025 |
| Raemaekers Diest | 1969 | €0.9m | €0.5m | €0.2m | - | €0.03m | 0 | 2025 |
| BERTHELS Diest | 1974 | €0.5m | €0.4m | €0.05m | - | €0.02m | - | 2025 |
| DIMMA DESIGN Liège | 1983 | €1.0m | €0.3m | €0.2m | - | €0.01m | - | 2025 |
| SOLIBEX Anderlecht | 1986 | €0.4m | €0.3m | €0.08m | - | €0.04m | - | 2025 |
| DEGECO Evere | 1969 | €1.0m | €0.7m | €0.3m | - | -€0.06m | 4.2 | 2025 |
They were chosen from the 1,143 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 1,217 companies had the same profile as General Development has now. Two years later, 1.5% had gone bankrupt and 96.0% were still going.
- Small
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
That fits the bankruptcy probability of General Development itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,445 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 1,217 companies, not a prediction for General Development. 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €57,618 | €53,719 | €52,897 | €69,491 | €78,194 | €96,038 | €110,968 | ▲ 15.5% |
| Non-recurring operating income76A | - | - | - | - | €5,460 | €9,101 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €29,907 | €34,658 | €26,437 | €32,235 | €40,828 | ▲ 26.7% |
| Remuneration, social security and pensions62 | - | - | - | €294 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,895 | €3,113 | €11,102 | €15,617 | €24,934 | €29,881 | €33,268 | ▲ 11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €5,984 | €23,543 | €54,417 | ▲ 131% |
| Other operating charges640/8 | - | - | €24,290 | €42,594 | €9,718 | €3,832 | €4,706 | ▲ 22.8% |
| Gross operating margin9900 | €331,214 | €10,015 | €22,990 | €34,833 | €57,217 | €72,904 | €66,588 | ▼ 8.7% |
| Operating profit (loss)9901 | €159,476 | -€27,742 | -€12,402 | -€23,671 | €16,581 | €15,649 | -€25,802 | - |
| Financial income75/76B | - | - | €663 | €3,141 | €104 | €6 | €36 | ▲ 508% |
| Recurring financial income75 | €8,294 | €317 | €663 | €3,141 | €104 | €6 | €36 | ▲ 508% |
| Financial charges65/66B | - | - | €9,580 | €12,357 | €17,757 | €13,995 | €13,681 | ▼ 2.2% |
| Recurring financial charges65 | €29,268 | €10,640 | €9,580 | €12,357 | €17,757 | €13,995 | €13,681 | ▼ 2.2% |
| Profit (loss) for the period before taxes9903 | €138,503 | -€52,779 | -€21,320 | -€32,887 | -€1,073 | €1,660 | -€39,448 | - |
| Transfer from deferred taxes780 | - | - | €157,700 | - | - | - | €48,488 | - |
| Profit (loss) for the period9904 | €34,247 | €3,993 | €136,380 | -€32,887 | -€1,073 | €1,660 | €9,040 | ▲ 445% |
| Transfer from tax-exempt reserves789 | - | - | €416,328 | - | - | - | €120,080 | - |
| Profit (loss) for the period to be appropriated9905 | -€220,999 | €3,993 | €552,709 | -€32,887 | -€1,073 | €1,660 | €129,120 | ▲ 78× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.6m | €0.7m | €0.7m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 7.5% |
| Fixed assets21/28 | €0.4m | €0.5m | €0.5m | €0.8m | €0.9m | €0.9m | €0.8m | ▼ 1.8% |
| Tangible fixed assets22/27 | €0.4m | €0.5m | €0.5m | €0.8m | €0.9m | €0.9m | €0.8m | ▼ 1.8% |
| Land and buildings22 | - | - | €0.5m | €0.8m | €0.9m | €0.9m | €0.8m | ▼ 1.8% |
| Plant, machinery and equipment23 | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.08m | ▼ 41.4% |
| Stocks and contracts in progress3 | €0.01m | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | €0.1m | €0.08m | ▼ 41.2% |
| Trade receivables40 | - | - | €0.1m | €0.2m | €0.2m | €0.1m | €0.08m | ▼ 41.3% |
| Other amounts receivable41 | - | - | €0.004m | €0.005m | €0.001m | €152 | €133 | ▼ 12.7% |
| Cash at bank and in hand54/58 | €0.008m | €0.002m | €0.006m | €0.004m | €0.008m | €0.005m | €0.002m | ▼ 47.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.6m | €0.7m | €0.7m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 7.5% |
| Equity10/15 | -€0.2m | -€0.08m | €0.1m | €0.07m | €0.07m | €0.07m | €0.08m | ▲ 12.3% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Revaluation surpluses12 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.7m | €0.7m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 40.5% |
| Non-distributable reserves130/1 | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Legal reserve130 | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Tax-exempt reserves132 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 41.0% |
| Profit (loss) carried forward14 | -€1.1m | -€1.1m | -€0.6m | -€0.6m | -€0.6m | -€0.6m | -€0.5m | ▲ 20.9% |
| Provisions and deferred taxes16 | €0.3m | €0.3m | €0.1m | €0.1m | €0.1m | €0.1m | €0.06m | ▼ 46.5% |
| Deferred taxes168 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.06m | ▼ 46.5% |
| Amounts payable17/49 | €0.5m | €0.5m | €0.5m | €0.9m | €0.9m | €0.8m | €0.8m | ▼ 4.3% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.4m | €0.6m | €0.6m | €0.6m | €0.6m | ▼ 7.1% |
| Financial debts170/4 | - | - | €0.4m | €0.6m | €0.6m | €0.6m | €0.6m | ▼ 7.1% |
| Amounts payable within one year42/48 | €0.07m | €0.07m | €0.09m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 3.3% |
| Current portion of amounts payable after more than one year42 | - | - | €0.03m | €0.03m | €0.04m | €0.04m | €0.04m | ▲ 2.0% |
| Trade debts44 | - | - | €0.007m | €0.04m | €0.04m | €0.03m | €0.03m | ▲ 10.6% |
| Suppliers440/4 | - | - | €0.007m | €0.04m | €0.04m | €0.03m | €0.03m | ▲ 10.6% |
| Other amounts payable47/48 | - | - | €0.05m | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 2.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,247 | €3,993 | €136,380 | -€32,887 | -€1,073 | €1,660 | €9,040 | ▲ 445% |
| + Depreciation and write-downs630 | €19,895 | €3,113 | €11,102 | €15,617 | €24,934 | €29,881 | €33,268 | ▲ 11.3% |
| Operating cash flow (approximation) | €54,142 | €7,106 | €147,482 | -€17,271 | €23,861 | €31,541 | €42,308 | ▲ 34.1% |
| Investment in fixed assets (approximation) | - | -€128,875 | -€54,000 | -€303,000 | -€66,702 | -€15,892 | -€17,525 | ▼ 10.3% |
| Change in cash | - | -€5,941 | €3,454 | -€1,175 | €3,750 | -€3,477 | -€2,195 | ▲ 36.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 42 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | full format | 28-04-2026 | 2026-00094200 | |
| 30-09-2024 | full format | 27-04-2025 | 2025-00080575 | |
| 30-09-2023 | full format | 23-04-2024 | 2024-00067292 | |
| 30-09-2022 | full format | 26-04-2023 | 2023-00066483 | |
| 30-09-2021 | full format | 13-05-2022 | 2022-20026272 | |
| 30-09-2020 | full format | 30-04-2021 | 2021-12900277 | |
| 30-09-2019 | full format | 27-04-2020 | 2020-09900319 | |
| 30-09-2018 | full format | 30-04-2019 | 2019-11900187 | |
| 31-12-2016 | full format | 24-08-2017 | 2017-49400057 | |
| 31-12-2015 | full format | 29-08-2016 | 2016-54100388 |
Board & ownership
Directors
Board 1
Day-to-day management 2
Owners and capital
Owners
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Evgeni RADULOV |
|
| Martin Van Jeun |
|
| Philippe CHABEAU |
|
| Gregor HOLLAND |
|
Network & group
General Development shares no director with another company.
Companies at the same address
1 other companyConnections & network
1 current directorThe network starts from the directors of General Development. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
27-02
Gazette deed
Reappointments: Philippe CHABEAU (managing director) and Evgeni RADULOV (director)Resignation: Gregor HOLLAND (director) · Appointment: Martin Van Jeun (managing director)5 points ▸
- General meeting, 31-10-2023
- Director reappointment, Philippe CHABEAU (managing director)
- Director reappointment, Evgeni RADULOV (director)
- Director resignation, Gregor HOLLAND (director)
- Director appointment, Martin Van Jeun (managing director)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21808H0975/00G000 | Brussels | 566 m² | 1 · 223 m² | 24.8 m · 7 |
| 21447B0296/00M007 | Brussels | 139 m² | 1 · 84 m² | 18.9 m · 5 |