GERBAR
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00428106.
Annual accounts 2025 filed on 25-08-2026 at the NBB all 38 filings
Equity
-€18,785▼ 6.3%
2024 · -€17,671
Total assets
€98,642=
2024 · €98,676
Net result
-€1,114▼ 8.6%
2024 · -€1,025
Working capital
-€117,285▼ 1.0%
2024 · -€116,171
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€1,004
▼ 4.2%
2025
20182025
Net result
-€1,114
▼ 8.6%
2025
20182025
Equity
-€18,785
▼ 6.3%
2025
20182025
Total assets
€98,642
=
2025
20182025
Debt
€117,427
▲ 0.9%
2025
20182025
Working capital
-€117,285
▼ 1.0%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€6,500--€628-€1▲ 99.8%-€828▼ 65,578%-€666▲ 19.6%-€2,390▼ 259%-€964▲ 59.7%-€1,004▼ 4.2%
Net result€6,370--€757-€143▲ 81.1%-€968▼ 576%-€812▲ 16.1%-€2,505▼ 208%-€1,025▲ 59.1%-€1,114▼ 8.6%
Equity-€11,461--€12,218▼ 6.6%-€12,361▼ 1.2%-€13,329▼ 7.8%-€14,141▼ 6.1%-€16,646▼ 17.7%-€17,671▼ 6.2%-€18,785▼ 6.3%
Total assets€98,618-€98,607=€100,194▲ 1.6%€98,777▼ 1.4%€99,199▲ 0.4%€99,332▲ 0.1%€98,676▼ 0.7%€98,642=
Debt€110,079-€110,825▲ 0.7%€112,555▲ 1.6%€112,106▼ 0.4%€113,340▲ 1.1%€115,978▲ 2.3%€116,347▲ 0.3%€117,427▲ 0.9%
Working capital-€109,872--€110,629▼ 0.7%-€110,861▼ 0.2%-€111,829▼ 0.9%-€112,641▼ 0.7%-€115,146▼ 2.2%-€116,171▼ 0.9%-€117,285▼ 1.0%
The operating result for 2025 is a loss of €1,004, larger than the loss of €964 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €98,642
Fixed assets
€98,500 =
Current assets
€142 ▼ 19.5%
Equity and liabilities
Equity-€18,785
Debt€117,427
Equity is negative. Debt (€117,427) exceeds the balance-sheet total (€98,642).
Key figures and ratios
Solvency
-19.0%▼
2024 · -17.9%
Current ratio
0.00▼
2024 · 0.00
ROA
-1.1%▼
2024 · -1.0%
Debt ≤ 1 year
€117,427▲
2024 · €116,347
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €197 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €348 | €348 | €731 | €451 | €877 | ▲ 94.4% |
| Gross operating margin9900 | €6,500 | -€628 | €3,292 | -€480 | -€318 | -€1,658 | -€513 | -€127 | ▲ 75.2% |
| Operating profit (loss)9901 | €6,500 | -€628 | -€1 | -€828 | -€666 | -€2,390 | -€964 | -€1,004 | ▼ 4.2% |
| Financial income75/76B | - | - | - | - | - | - | €0 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | - | - | - | - | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €141 | €146 | €115 | €62 | €109 | ▲ 77.8% |
| Recurring financial charges65 | €130 | €129 | €142 | €141 | €146 | €115 | €62 | €109 | ▲ 77.8% |
| Profit (loss) for the period before taxes9903 | €6,370 | -€757 | -€143 | -€968 | -€812 | -€2,505 | -€1,025 | -€1,114 | ▼ 8.6% |
| Profit (loss) for the period9904 | €6,370 | -€757 | -€143 | -€968 | -€812 | -€2,505 | -€1,025 | -€1,114 | ▼ 8.6% |
| Profit (loss) for the period to be appropriated9905 | €6,370 | -€757 | -€143 | -€968 | -€812 | -€2,505 | -€1,025 | -€1,114 | ▼ 8.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €98,618 | €98,607 | €100,194 | €98,777 | €99,199 | €99,332 | €98,676 | €98,642 | = |
| Fixed assets21/28 | €98,500 | €98,500 | €98,500 | €98,500 | €98,500 | €98,500 | €98,500 | €98,500 | = |
| Financial fixed assets28 | €98,500 | €98,500 | €98,500 | €98,500 | €98,500 | €98,500 | €98,500 | €98,500 | = |
| Current assets29/58 | €118 | €107 | €1,694 | €277 | €699 | €832 | €176 | €142 | ▼ 19.5% |
| Cash at bank and in hand54/58 | €118 | €107 | €1,694 | €277 | €699 | €832 | €176 | €142 | ▼ 19.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €98,618 | €98,607 | €100,194 | €98,777 | €99,199 | €99,332 | €98,676 | €98,642 | = |
| Equity10/15 | -€11,461 | -€12,218 | -€12,361 | -€13,329 | -€14,141 | -€16,646 | -€17,671 | -€18,785 | ▼ 6.3% |
| Contributions10/11 | €23,750 | €23,750 | €23,750 | €23,750 | €23,750 | €23,750 | €23,750 | €23,750 | = |
| Capital10 | - | - | - | €23,750 | - | - | - | - | - |
| Issued capital100 | - | - | - | €23,750 | - | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | €23,750 | €23,750 | €23,750 | - | - |
| Share premium1100/10 | - | - | - | - | - | €23,750 | €23,750 | - | - |
| Other1109/19 | - | - | - | - | €23,750 | - | - | - | - |
| Reserves13 | €4,667 | €4,667 | €4,667 | €4,667 | €4,667 | €4,667 | €4,667 | €4,667 | = |
| Non-distributable reserves130/1 | - | - | - | €620 | €620 | €620 | €620 | €620 | = |
| Legal reserve130 | - | - | - | €620 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €620 | €620 | €620 | €620 | = |
| Distributable reserves133 | - | - | - | €4,047 | €4,047 | €4,047 | €4,047 | €4,047 | = |
| Profit (loss) carried forward14 | -€39,878 | -€40,635 | -€40,778 | -€41,746 | -€42,558 | -€45,063 | -€46,088 | -€47,202 | ▼ 2.4% |
| Amounts payable17/49 | €110,079 | €110,825 | €112,555 | €112,106 | €113,340 | €115,978 | €116,347 | €117,427 | ▲ 0.9% |
| Amounts payable within one year42/48 | €109,990 | €110,736 | €112,555 | €112,106 | €113,340 | €115,978 | €116,347 | €117,427 | ▲ 0.9% |
| Trade debts44 | €454 | - | - | €313 | €348 | €385 | €755 | €187 | ▼ 75.2% |
| Suppliers440/4 | - | - | - | €313 | €348 | €385 | €755 | €187 | ▼ 75.2% |
| Other amounts payable47/48 | - | - | - | €111,793 | €112,993 | €115,593 | €115,593 | €117,240 | ▲ 1.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,370 | -€757 | -€143 | -€968 | -€812 | -€2,505 | -€1,025 | -€1,114 | ▼ 8.6% |
| Operating cash flow (approximation) | €6,370 | -€757 | -€143 | -€968 | -€812 | -€2,505 | -€1,025 | -€1,114 | ▼ 8.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€11 | €1,587 | -€1,416 | €422 | €132 | -€655 | -€34 | ▲ 94.8% |
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 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-08-2026 | 2026-00428106 | |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00475334 | |
| 31-12-2023 | micro format | 31-08-2024 | 2024-00454749 | |
| 31-12-2022 | micro format | 24-08-2023 | 2023-00399135 | |
| 31-12-2021 | micro format | 12-08-2022 | 2022-20292986 | |
| 31-12-2020 | micro format | 05-08-2021 | 2021-45900349 | |
| 31-12-2019 | micro format | 02-09-2020 | 2020-50000258 | |
| 31-12-2018 | micro format | 23-09-2019 | 2019-65300326 | |
| 31-12-2017 | micro format | 18-09-2018 | 2018-63300307 | |
| 31-12-2016 | micro format | 21-08-2017 | 2017-45800484 |