GERDO

Active Public limited companyfounded 2002active for 24 yearsOude Vijfstraat 6, 8760 TieltKBO/BCE: BE 0477.420.043

GERDO

Financial year 2025

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Annual accounts 2025

abbreviated format, filed on 26-02-2026, 63 days before the deadline

€1.4m

▼ 15.7%

€974,389

▼ 27.9%

€765,456

▼ 19.0%

€3.7m

▲ 3.1%

66.8%

▲ 7.6 percentage points

3.06

▲ 0.12

Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €5.8m. Estimated: probably between €3.5m and €9.9m.

Balance sheet

balance sheet total €6.4m on 30-09-2025

What the company ownsHow it is paid for

in €m

in euro

Position in the sector

Compare with sector

66.8%

Higher than 73% of 9,902 companies in 2025.

3.06

Higher than 72% of 9,665 companies in 2025.

12.0%

Higher than 79% of 9,780 companies in 2025.

GERDO Middle half of the sector 80% of the sector Abbreviated accounts in wholesale trade (NACE 46)

Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter · Staff: middle half

Staff

€53,882

Staff costs divided by the average number of full-time equivalents.

-3 people

people who joined people who left

In 2025, 54 people joined and 57 left.

Filed annual accounts

as filed with the National Bank, click a year to choose it

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Balance sheet: assets
`20/58`	6.4m	6.3m	5.5m	4.8m	3.5m	3.4m	2.9m	2.7m	2.2m	2.1m	2.2m	1.9m	1.9m	2.3m	2.0m	1.7m	1.5m	1.4m	1.3m
`21/28`	851,526	876,337	939,018	979,656	742,300	773,687	194,096	153,411	73,721	87,851	112,735	73,932	97,368	141,688	94,763	105,227	72,475	106,005	106,144
`21`	747	1,067	1,387	0	171	342	513	740	1,104	2,152	7,140	13,035	14,195	15,601	641	-	-	-	-
`22/27`	849,539	874,030	936,391	978,416	740,889	771,863	192,101	151,190	71,136	84,218	104,114	59,416	81,692	124,606	92,641	103,745	70,994	104,523	104,663
`22`	471,340	505,708	736,587	770,955	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`23`	38,419	50,668	68,605	69,923	87,744	66,383	89,591	65,827	31,261	16,092	13,410	16,123	19,822	24,973	25,905	12,437	20,733	28,271	33,660
`24`	308,982	292,223	113,140	136,637	150,004	182,854	98,326	78,940	31,214	58,612	86,271	37,527	54,772	91,202	61,657	89,635	42,045	61,403	49,399
`26`	30,798	25,430	18,060	900	503,141	522,627	4,184	6,423	8,661	9,514	4,433	5,765	7,098	8,431	5,079	1,673	8,215	14,850	21,603
`28`	1,240	1,240	1,240	1,240	1,240	1,482	1,482	1,482	1,482	1,482	1,482	1,482	1,482	1,482	1,482	1,482	1,482	1,482	1,482
`29/58`	5.5m	5.5m	4.5m	3.8m	2.8m	2.6m	2.7m	2.5m	2.1m	2.0m	2.1m	1.8m	1.8m	2.2m	1.9m	1.6m	1.5m	1.3m	1.1m
`29`	-	-	-	-	-	-	-	-	-	-	-	-	20,000	20,000	20,000	-	56,800	56,800	24,000
`291`	-	-	-	-	-	-	-	-	-	-	-	-	20,000	20,000	20,000	-	56,800	56,800	24,000
`3`	21,789	25,716	13,333	10,146	8,236	13,190	13,900	17,193	18,207	18,455	23,408	11,812	11,040	7,586	5,238	7,070	12,877	-	9,260
`30/36`	21,789	25,716	13,333	10,146	8,236	13,190	13,900	17,193	18,207	18,455	23,408	11,812	11,040	7,586	5,238	7,070	12,877	-	9,260
`40/41`	2.1m	2.7m	2.0m	2.4m	954,892	1.3m	1.3m	1.1m	766,839	844,079	1.3m	726,886	563,843	885,728	876,311	713,067	562,034	711,242	542,853
`40`	1.9m	2.6m	1.9m	2.3m	908,169	1.3m	1.2m	933,893	525,379	592,056	1.0m	521,965	338,639	620,194	623,343	512,408	343,443	525,186	393,374
`41`	188,367	132,626	105,355	149,192	46,722	59,304	135,764	170,568	241,460	252,023	252,739	204,921	225,204	265,534	252,968	200,660	218,591	186,056	149,479
`50/53`	2.8m	2.4m	1.8m	631,544	642,968	556,093	556,117	556,177	306,044	305,855	294,839	57,079	95,085	103,640	103,378	73,528	86,484	86,164	36,000
`54/58`	545,332	329,948	681,310	733,265	1.1m	708,601	850,267	813,372	1.0m	860,614	474,792	1.0m	1.1m	1.1m	850,501	767,373	741,933	475,260	525,438
`490/1`	24,534	9,269	26,144	7,928	28,635	-	483	10,540	15,166	10,540	10,540	244	-	386	2,983	2,502	-	-	6,345
Balance sheet: equity and liabilities
`10/49`	6.4m	6.3m	5.5m	4.8m	3.5m	3.4m	2.9m	2.7m	2.2m	2.1m	2.2m	1.9m	1.9m	2.3m	2.0m	1.7m	1.5m	1.4m	1.3m
`10/15`	4.2m	3.7m	3.1m	2.4m	1.9m	1.5m	1.0m	1.8m	1.7m	1.5m	1.4m	1.3m	1.4m	1.5m	1.5m	1.3m	1.2m	1.1m	845,267
`10/11`	62,000	62,000	62,000	62,000	62,000	62,000	62,000	1.1m	1.1m	1.1m	1.1m	1.1m	62,000	62,000	156,573	156,573	156,573	156,573	156,573
`10`	62,000	62,000	62,000	62,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`100`	62,000	62,000	62,000	62,000	62,000	62,000	62,000	1.1m	1.1m	1.1m	1.1m	1.1m	62,000	62,000	156,573	156,573	156,573	156,573	156,573
`13`	4.2m	3.7m	3.0m	2.4m	1.8m	1.4m	939,878	671,080	570,039	437,266	306,032	206,005	1.3m	1.4m	1.3m	1.1m	1.1m	940,826	688,694
`130/1`	-	0	21,412	21,412	21,412	25,737	-	-	-	-	-	-	-	-	-	-	-	-	-
`130`	-	0	21,412	21,412	21,412	25,737	25,737	25,737	20,853	14,215	23,310	18,985	15,657	15,657	15,657	15,657	15,657	15,657	15,657
`132`	1.4m	1.1m	1.4m	983,584	794,134	429,528	159,157	155,786	152,416	152,416	152,416	138,894	138,894	224,649	340,118	355,118	355,330	343,042	211,554
`133`	2.8m	2.5m	1.6m	1.4m	1.0m	954,983	754,984	489,557	396,770	270,636	130,306	48,126	1.2m	1.2m	981,899	779,177	688,840	582,127	461,482
`14`	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`16`	-	0	13,607	13,607	13,607	13,607	13,607	18,607	76,500	71,973	61,348	50,723	49,051	40,881	36,108	28,006	57,353	43,936	24,746
`160/5`	-	0	13,607	13,607	13,607	13,607	13,607	18,607	76,500	71,973	61,348	50,723	49,051	40,881	36,108	28,006	57,262	43,564	24,092
`162`	-	0	13,607	13,607	13,607	13,607	13,607	18,607	76,500	-	-	-	-	-	-	-	-	-	-
`168`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	91	373	654
`17/49`	2.1m	2.6m	2.4m	2.3m	1.6m	1.9m	1.9m	868,467	476,086	521,156	740,808	524,543	481,239	750,110	422,819	334,236	258,850	294,136	380,028
`17`	289,448	720,720	801,248	881,041	883,495	1.0m	600,000	120,000	44,994	120,000	63,000	74,989	85,655	126,651	42,666	58,667	-	-	-
`170/4`	289,448	370,720	451,248	531,041	383,495	432,030	-	-	-	-	-	-	10,666	26,666	42,666	58,667	-	-	-
`178/9`	0	350,000	350,000	350,000	500,000	600,000	600,000	120,000	44,994	120,000	63,000	74,989	74,989	99,985	-	-	-	-	-
`42/48`	1.8m	1.9m	1.6m	1.4m	684,568	876,127	1.3m	745,467	425,046	397,906	674,558	443,975	391,684	619,425	376,223	269,470	254,135	289,504	371,854
`42`	81,272	80,529	79,793	79,064	48,534	48,074	-	-	-	-	-	10,666	16,000	16,000	16,000	16,000	-	-	1,817
`44`	1.2m	1.5m	1.2m	1.1m	417,722	654,353	602,855	637,909	301,554	283,532	585,377	228,068	265,577	507,492	256,922	207,699	137,003	183,381	283,012
`440/4`	1.2m	1.5m	1.2m	1.1m	417,722	654,353	602,855	637,909	301,554	283,532	585,377	228,068	265,577	507,492	256,922	207,699	137,003	183,381	283,012
`45`	125,669	119,651	200,833	148,893	160,217	58,239	188,721	102,707	110,372	107,175	83,613	188,666	33,322	66,397	51,586	43,725	61,951	24,123	23,035
`450/3`	75,674	72,056	164,637	115,449	126,427	37,819	159,963	79,194	85,490	79,125	52,296	161,668	8,036	43,147	28,195	12,655	33,840	10,202	7,732
`454/9`	49,996	47,595	36,196	33,444	33,791	20,420	28,758	23,513	24,882	28,050	31,316	26,998	25,286	23,250	23,391	31,071	28,111	13,921	15,302
`47/48`	362,432	106,737	95,472	75,489	58,094	115,460	506,695	4,851	13,120	7,199	5,569	16,574	76,786	29,536	51,715	2,045	55,180	82,000	63,990
`492/3`	21,142	5,049	17,523	14,762	19,968	3,250	3,000	3,000	6,045	3,250	3,250	5,580	3,900	4,034	3,930	6,100	4,715	4,632	8,174
Income statement
`76A`	0	50,000	250	-	0	12,000	3,000	-	-	-	13,974	500	-	7,500	1,446	-	32,821	2,000	-
`9900`	1.4m	1.7m	1.4m	1.1m	1.0m	948,989	633,701	323,039	395,658	396,524	388,105	307,643	333,141	448,746	426,549	319,290	360,101	482,837	269,729
`62`	285,574	221,521	195,503	175,881	187,623	148,784	146,011	131,973	133,602	128,352	158,170	109,367	138,498	131,541	146,901	155,745	129,012	90,900	85,472
`630`	115,860	84,442	71,309	113,262	109,481	100,887	69,107	68,655	39,810	45,742	66,449	62,641	52,999	70,772	46,786	61,593	63,769	67,596	56,254
`631/4`	-267,923	-326	-1,398	0	-5,341	-	-	16,000	-	-8,216	8,216	-	169,515	89,243	-	10,566	-	17,567	-
`635/8`	0	-13,607	-	-	-	-	-5,000	-57,893	5,119	10,625	10,625	1,672	8,170	4,773	8,101	-29,256	13,698	19,472	-50,908
`640/8`	283,414	7,869	10,094	7,112	7,686	3,140	5,686	4,297	4,194	19,761	6,251	5,427	10,630	5,771	9,279	8,914	10,550	11,076	4,896
`66A`	-	0	176	10,462	6,405	1,499	7,505	-	-	-	4,385	-	-	-	883	-	270	2,321	-
`9901`	974,389	1.4m	1.1m	842,597	708,924	694,678	410,392	160,008	212,933	200,260	138,394	128,535	-46,671	146,647	215,481	111,727	143,072	276,227	174,015
`75/76B`	106,792	55,104	43,673	26,011	16,411	12,657	16,813	14,610	7,825	8,445	17,709	15,015	13,413	5,676	8,098	4,626	9,254	9,950	10,797
`75`	106,792	55,104	43,673	26,011	16,411	12,657	16,813	14,610	7,825	8,445	17,709	15,015	13,413	5,676	8,098	4,626	9,254	9,950	10,797
`65/66B`	36,429	-17,656	16,332	87,012	28,635	33,088	7,335	10,187	9,358	-519	19,357	40,562	11,922	6,825	4,233	4,218	4,103	3,509	2,493
`65`	36,429	-17,656	16,332	87,012	28,635	33,088	7,335	10,187	9,358	-519	19,357	40,562	11,922	6,825	4,233	4,218	4,103	3,509	2,493
`9903`	1.0m	1.4m	1.1m	781,597	696,701	674,248	419,870	164,430	211,399	209,224	146,334	103,489	-45,180	152,998	219,910	112,136	180,773	282,346	182,319
`67/77`	279,296	478,160	311,287	244,011	191,312	202,254	149,472	63,390	78,626	77,989	46,307	36,933	-2,608	36,625	32,188	22,101	42,054	41,996	24,440
`9904`	765,456	945,394	799,471	537,586	505,389	471,994	270,398	101,041	132,773	131,234	100,027	66,556	-42,572	116,373	187,722	90,126	139,001	240,632	158,161
`789`	315,750	688,000	-	-	-	-	-	-	-	-	-	-	85,868	-	-	212	658	658	658
`689`	547,300	421,000	421,000	189,450	421,000	270,371	3,371	3,371	-	-	13,522	-	113	7,531	75,000	-	12,946	120,645	79,409
`9905`	533,906	1.2m	378,471	348,136	84,389	201,623	267,027	97,670	132,773	131,234	86,506	66,556	43,183	108,843	112,722	90,337	126,713	120,645	79,409
Appropriation of the result
`9906`	533,906	1.2m	378,471	348,136	84,389	201,623	267,027	97,670	132,773	131,234	86,506	66,556	43,183	108,843	112,722	90,337	126,713	120,645	79,409
`791/2`	265,427	271,009	157,895	0	142,784	-	-	-	-	-	-	-	-	-	-	-	-	-	-
`691/2`	533,906	1.2m	378,471	348,136	140,783	199,999	265,427	97,670	132,773	131,234	86,506	49,956	43,183	108,843	112,722	90,337	106,713	120,645	79,409
`6920`	-	-	-	-	-	-	-	4,884	6,639	6,562	4,325	3,328	-	-	-	-	-	-	-
`6921`	533,906	1.2m	378,471	348,136	140,783	199,999	265,427	92,786	126,135	124,672	82,181	46,628	43,183	108,843	112,722	90,337	106,713	120,645	79,409
`694/7`	265,427	271,009	157,895	0	86,390	1,624	1,600	-	-	-	-	16,600	-	-	-	-	20,000	-	-
`694`	265,427	271,009	157,895	0	86,390	1,624	1,600	-	-	-	-	16,600	-	-	-	-	20,000	-	-
Social balance sheet
`9087`	5.3	5	4.9	4.6	5.5	4.5	4	3.1	3.8	2.3	3.7	2.6	3.1	3.1	3.5	3.8	3.3	4.5	2.6
Hours worked`1013`	7,900	5,321	6,241	6,865	8,306	6,421	6,256	1,728	2,597	2,063	6,783	5,136	6,281	5,791	6,798	7,024	5,971	4,728	4,662
Document	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF	PDF

The accounts for 5 older financial years (2002-2006) were filed as documents without figures as data, scans for example.

The notes to these accounts have 21 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 26-02-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

Financial year	Type	Filed	Reference	Document
30-09-2025	abbreviated format	26-02-2026	2026-00046558	PDF
30-09-2024	abbreviated format	21-02-2025	2025-00037385	PDF
30-09-2023	abbreviated format	12-02-2024	2024-00029119	PDF
30-09-2022	abbreviated format	09-03-2023	2023-00037408	PDF
30-09-2021	abbreviated format	11-02-2022	2022-05400018	PDF
30-09-2020	abbreviated format	10-03-2021	2021-07400051	PDF
30-09-2019	abbreviated format	13-02-2020	2020-04800401	PDF
30-09-2018	abbreviated format	15-02-2019	2019-05000564	PDF
30-09-2017	abbreviated format	09-02-2018	2018-04600570	PDF
30-09-2016	abbreviated format	08-03-2017	2017-06000294	PDF
30-09-2015	abbreviated format	25-03-2016	2016-08100051	PDF
30-09-2014	abbreviated format	31-03-2015	2015-08500544	PDF
30-09-2013	abbreviated format	10-03-2014	2014-06100524	PDF
30-09-2012	abbreviated format	24-04-2013	2013-09600154	PDF
30-09-2011	abbreviated format	30-03-2012	2012-07400175	PDF
30-09-2010	abbreviated format	25-02-2011	2011-04300161	PDF
30-09-2009	abbreviated format	17-02-2010	2010-04800122	PDF
30-09-2008	abbreviated format	03-03-2009	2009-07100220	PDF
30-09-2007	abbreviated format	29-05-2008	2008-16300334	PDF
30-09-2006	abbreviated format	26-03-2007	2007-08700981	PDF
30-09-2005	abbreviated format	17-02-2006	2006-05104034	PDF
30-09-2004	abbreviated format	08-04-2005	2005-11102709	PDF
30-09-2003	abbreviated format	16-02-2004	2004-04601430	PDF
30-09-2002	abbreviated format	09-04-2003	2003-10404920	PDF

Subsidies and aid

Flemish government 2022 to 2024, 4 entries, €5,841 awarded, €5,841 paid

Subsidies ecologisch en veilig transport (discontinued)

€3,000

Vlaams opleidingsverlof (VOV)

€2,428

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

€413

Year	Entries	Awarded	Paid
2024	1	€53	€53
2023	2	€2,788	€2,788
2022	1	€3,000	€3,000

Key figures and ratios

per financial year, computed from the annual accounts

2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
1.1m	1.4m	1.2m	955,859	818,405	795,565	479,500	228,662	252,742	246,001	204,843	191,177	6,328	217,419	262,268	173,321	206,841	343,823	230,269
881,316	1.0m	870,780	650,848	614,870	572,881	339,505	169,696	172,583	176,976	166,476	129,197	10,427	187,145	234,509	151,719	202,770	308,228	214,415
91,049	218,271	30,846	379,180	112,809	682,883	119,107	148,345	25,679	20,858	106,730	39,205	8,679	117,697	37,949	94,345	32,939	67,457	25,199
215,384	-351,361	-51,955	-382,589	407,253	-141,666	36,895	-226,276	179,034	385,823	-533,526	-102,684	-31,582	292,083	83,128	25,441	266,673	-50,178	-
3.7m	3.6m	3.0m	2.4m	2.1m	1.7m	1.4m	1.8m	1.7m	1.6m	1.4m	1.4m	1.4m	1.5m	1.5m	1.3m	1.2m	1.0m	772,043
66.8%	59.2%	56.2%	50.8%	54.1%	43.3%	34.3%	66.6%	75.1%	72.1%	63.6%	69.4%	72.1%	65.6%	76.5%	78.3%	79.4%	76.4%	67.6%
3.06	2.94	2.90	2.63	4.02	2.99	2.10	3.36	5.05	5.13	3.10	4.06	4.60	3.49	4.94	5.80	5.75	4.59	3.08
3.04	2.92	2.89	2.63	4.01	2.98	2.09	3.33	5.01	5.08	3.07	4.04	4.57	3.47	4.93	5.78	5.69	4.59	3.05
0.50	0.69	0.78	0.96	0.84	1.30	1.90	0.49	0.29	0.34	0.53	0.40	0.35	0.50	0.28	0.26	0.21	0.27	0.45
18.0%	25.2%	26.0%	22.1%	26.7%	32.1%	27.0%	5.7%	8.0%	8.6%	7.1%	5.1%	-3.1%	7.7%	12.6%	6.9%	11.4%	21.9%	18.7%
12.0%	14.9%	14.6%	11.2%	14.5%	13.9%	9.3%	3.8%	6.0%	6.2%	4.5%	3.5%	-2.2%	5.1%	9.6%	5.4%	9.1%	16.8%	12.7%
29.93	-81.29	70.70	10.99	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item	30-09-2025	30-09-2024	30-09-2023	30-09-2022
Employees at the balance-sheet date	3	6	4	5
full-time	3	3	3	5
part-time	0	3	1	0
in full-time equivalents	3	4.5	3.1	5
	5.3	5	4.9	4.6
On a permanent contract	3	6	3	4
Joined	54	51	48	22
Left	57	49	0	22

Source: social balance sheet in the 2022 to 2025 annual accounts

Investments

fixed assets acquired

Item	30-09-2025	30-09-2024	30-09-2023	30-09-2022
Tangible fixed assets	€91,049	€218,271	€29,246	€379,180
Intangible fixed assets	-	-	€1,600	-
	€115,860	€84,442	€71,309	€113,262

Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)

Insights on GERDO

The operating result for 2025 is 28% lower than in 2024 and the lowest since 2022.

Debt's share of the balance-sheet total falls from 40.8% to 33.2%. Equity is higher and debt is lower.

Next steps

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Annual accounts 2025

Balance sheet

Change in equityin €m

Change in cashin euro

Position in the sector

Solvency66.8%

Current ratio3.06

Return on assets12.0%

Staff

Staff cost per FTE€53,882

Joined and left-3 people

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2022 to 2024, 4 entries, €5,841 awarded, €5,841 paid

Key figures and ratios

Social balance sheet

Investments

Insights on GERDO

Next steps

in €m

in euro

66.8%

3.06

12.0%

€53,882

-3 people