Active BE 0422.099.854Public limited companyOpen bankruptcy

Genisol

Rabotstraat 113 ·9940 Evergem, Belgium· 44 yrs active

Sector: Installatie van isolatie (43230)

Conclusion Checked

A bankruptcy procedure is open for Genisol according to publications in the Belgian State Gazette. The file additionally contains 2 judicial reorganisations. The 2024 annual accounts show negative equity (€-1.27M) and a net result of €-1.80M.

Based on the State Gazette, CBE and 7 annual accounts.

Key figures

Equity	€-1.27M
Net result	€-1.80M
Staff (FTE)	35.3
Better than sector	5%

Snowflake analysis 5 of 5 axes measured · computed by Checked

21 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0

Profitability 33

Solvency 51

Growth 22

Stability 0

Bankruptcy probability (12 mo) Checked model v1 · free

Bankruptcy opened

A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.

Risk Assessment rule-based

70 / 100

Severe riskRegister: open bankruptcy

This score counts publications in the Belgian State Gazette only. The KBO register additionally records legal situation 050 for this company; it does not feed the figure above.

Components

· 2 judicial reorganisations (+20)

· Open bankruptcy (+50)

Trust signals 2 signals

Register: open bankruptcy

The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.

Open bankruptcy

Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.

Administrative Flags 0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Health barometer FY 2024 · computed

0 / 100 Critical

050100

Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

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Computed by Checked from the NBB filing for FY 2024 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.

Financial overview10 NBB filings

Annual accounts filed on 01-08-2025 with the NBB · fiscal year 2024 · volledig

RevenueOperating resultNet result

Sector comparison

Fiscal year 2024 · NACE 43, Specialised construction · compared within the same schema type (full schema)

Metric	This company	Sector median	Position in the sector
Solvency	-31.6%	36.6%	better than 5% of 498 sector peers
Net result	€-1.80M	€19k	better than 5% of 496 sector peers
Equity	€-1.27M	€90k	better than 5% of 498 sector peers
Staff costs	€2.00M	€148k	higher than 94% of 330 sector peers
Employees (FTE)	35.3	4.3	better than 92% of 261 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Revenue

€3.04M

-54.6% 18-24

EBITDA

€-1.92M

-2178.5% 18-24

Net profit

€-1.80M

-741.0% 18-24

Cash flow

€-1.73M

-1163.9% 18-24

Total assets

€4.00M

-16.6% 18-24

Equity

€-1.27M

- 18-24

Working capital

€933k

-45.9% 18-24

Employees (FTE)

35

-15.6% 18-24

Staff costs

€2.00M

-17.2% 18-24

Income taxes

€2k

-34.1% 18-24

Debt

€5.27M

+23.5% 18-24

Debt ≤ 1y

€2.95M

+2.0% 18-24

Debt > 1y

€2.24M

+63.7% 18-24

Current ratio

1.32

-17.5% 18-24

Quick ratio

0.67

-28.4% 18-24

Solvency

-31.6%

- 18-24

Debt / equity

-4.16

- 18-24

ROE

142.4%

- 18-24

ROA

-45.0%

-908.8% 18-24

Net margin

-59.3%

-1753.6% 18-24

EBITDA margin

-63.2%

-4921.6% 18-24

Interest coverage

-10.55

-783.9% 18-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	volledig
Revenue	€3.04M
EBITDA	€-1.92M
Net profit	€-1.80M
Cash flow	€-1.73M
Staff costs	€2.00M
Income taxes	€2k
Dividends	-
Total assets	€4.00M
Equity	€-1.27M
Debt	€5.27M
of which ≤ 1y	€2.95M
of which > 1y	€2.24M
Working capital	€933k
Employees (FTE)	35.3

Ratios (computed)

	2024
Current ratio	1.32
Quick ratio	0.67
Working capital ratio	23.3%
Solvency	-31.6%
Debt / equity	-4.16
Long-term debt ratio	-1.77
Interest coverage	-10.55
Gross margin	22.3%
Net margin	-59.3%
ROA	-45.0%
ROE	142.4%
EBITDA margin	-63.2%
Days sales outstanding	118d
Days payable outstanding	298d
Inventory turnover	1.25
Days inventory (DSI)	293d

Balance-sheet composition 2024

Assets

Fixed assets €117k · 2.9% Current assets €3.89M · 97.1%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€4.00M
Fixed assets	21/28	€117k
Intangible fixed assets	21	€15k
Tangible fixed assets	22/27	€93k
Financial fixed assets	28	€8k
Current assets	29/58	€3.89M
Stocks & contracts in progress	3	€1.89M
Amounts receivable within one year	40/41	€1.78M
Cash & bank	54/58	€13k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€4.00M
Equity	10/15	€-1.27M
Contributions / capital	10/11	€1.53M
Reserves	13	€214k
Accumulated profits (losses)	14	€-3.00M
Amounts payable	17/49	€5.27M
Amounts payable after one year	17	€2.24M
Amounts payable within one year	42/48	€2.95M
Trade debts payable within one year	44	€1.93M
Income statement
Turnover	70	€3.04M
Operating result	9901	€-2.00M
Financial income	75	€418k
Financial charges	65	€221k
Result before taxes	9903	€-1.80M
Income taxes	67/77	€2k
Net result for the period	9904	€-1.80M
Result to be appropriated	9905	€-1.80M

You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates2 persons

Role	Name	Tenure	Source
Curator	GEERT DEFREYNE KORTRIJKSESTEENWEG 361, 9000 GENT	21-04-2026 → present	Belgian State Gazette
Curator	LAURENCE CARAMIN HOFKOUTERSTRAAT 5, 9890 GAVERE	21-04-2026 → present	Belgian State Gazette

Legal Structure

NACE primary	Installatie van isolatie(43230)
Legal form	Public limited company(014)
Incorporation	06-11-1981
Status	Active
Postal code	9940
First BS signal	17-09-2025
Latest BS signal	07-05-2026

Establishment units 1 location

GENISOL

Rabotstraat 113, 9940 EvergemGroothandel in auto's en lichte bestelwagens (= 3,5 ton)

since 19822.019.505.851

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44302E1468/00R002	Flanders	1.0 ha	1 · 484 m²	7.3 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 13 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2026

07-05-2026

Bankruptcy Opening

Ondernemingsrechtbank Gent, afdeling Gent · GENISOL NV, RABOTSTRAAT 113, 9940 EVERGEM · event 21-04-2026

29-04-2026

Judicial reorganisation Transfer under judicial authority

Ondernemingsrechtbank Gent · transfert_judiciaire

2025

17-09-2025

Judicial reorganisation Transfer under judicial authority

Ondernemingsrechtbank Gent · transfert_judiciaire · event 10-09-2025

01-08-2025