GERFOR
ActiveSummary
GERFOR has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €135k and a net result of €6k. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 84% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▼-1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity ample (current ratio 3.46 against 3.17 in 2024; short-term debt: 22.3% and cash: 19.1% of total assets), and 22.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
77.7%
Return on assets
3.6%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €135k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
60 d late
2023
59 d late
2022
31 d late
2021
30 d late
2020
25 d late
2019
24 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€135k▲ 4.8%
2024 · €129k
Total assets
€173k▲ 5.6%
2024 · €164k
Net result
€6k▼ 12.7%
2024 · €7k
Working capital
€95k▲ 22.8%
2024 · €77k
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€3k€3k▼ 2.1%€9k▲ 227%€9k▲ 1.4%€7k▼ 26.2%
Net result€2k€975▼ 52.6%€6k▲ 516%€7k▲ 18.0%€6k▼ 12.7%
Equity€115k▲ 1.8%€116k▲ 0.9%€122k▲ 5.2%€129k▲ 5.8%€135k▲ 4.8%
Total assets€143k▲ 8.4%€141k▼ 0.9%€153k▲ 8.4%€164k▲ 7.2%€173k▲ 5.6%
Debt€28k▲ 47.3%€26k▼ 7.8%€32k▲ 22.7%€36k▲ 12.7%€39k▲ 8.4%
Working capital€113k▲ 2.8%€114k▲ 1.3%€121k▲ 5.7%€77k▼ 36.0%€95k▲ 22.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 26% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €173k
Fixed assets
€40k ▼ 22.3%
Current assets
€134k ▲ 18.3%
Equity and liabilities €173k
Equity
€135k ▲ 4.8%
Debt
€39k ▲ 8.4%
Debt's share of the balance-sheet total rises from 21.7% to 22.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€19k▲
2024 · €18k
Cash flow
€18k▲
2024 · €15k
Current ratio
3.46▲
2024 · 3.17
Debt to equity
0.29▲
2024 · 0.28
ROE
4.6%▼
2024 · 5.5%
ROA
3.6%▼
2024 · 4.3%
Interest coverage
97.69▼
2024 · 170.95
Debt ≤ 1 year
€39k▲
2024 · €36k
Income taxes
€637▼
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €981 | €521 | €521 | €8k | €12k | ▲ 48.8% |
| Other operating charges640/8 | €901 | €955 | €1,000 | €941 | €864 | ▼ 8.1% |
| Gross operating margin9900 | €5k | €4k | €11k | €19k | €20k | ▲ 7.8% |
| Operating profit (loss)9901 | €3k | €3k | €9k | €9k | €7k | ▼ 26.2% |
| Financial income75/76B | €8 | - | €0 | €11 | €23 | ▲ 100% |
| Recurring financial income75 | €8 | - | €0 | €11 | €23 | ▲ 100% |
| Financial charges65/66B | €75 | €119 | €105 | €104 | €197 | ▲ 90.1% |
| Recurring financial charges65 | €75 | €119 | €105 | €104 | €197 | ▲ 90.1% |
| Profit (loss) for the period before taxes9903 | €3k | €3k | €9k | €9k | €7k | ▼ 27.3% |
| Income taxes67/77 | €803 | €2k | €3k | €2k | €637 | ▼ 72.4% |
| Profit (loss) for the period9904 | €2k | €975 | €6k | €7k | €6k | ▼ 12.7% |
| Profit (loss) for the period to be appropriated9905 | €2k | €975 | €6k | €7k | €6k | ▼ 12.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €143k | €141k | €153k | €164k | €173k | ▲ 5.6% |
| Fixed assets21/28 | €2k | €1k | €869 | €51k | €40k | ▼ 22.3% |
| Tangible fixed assets22/27 | €2k | €1k | €869 | €51k | €40k | ▼ 22.3% |
| Furniture and vehicles24 | €2k | €1k | €869 | €51k | €40k | ▼ 22.3% |
| Current assets29/58 | €141k | €140k | €152k | €113k | €134k | ▲ 18.3% |
| Amounts receivable within one year40/41 | €109k | €118k | €125k | €103k | €98k | ▼ 4.8% |
| Trade receivables40 | €109k | €116k | €112k | €103k | €98k | ▼ 4.8% |
| Other amounts receivable41 | - | €2k | €13k | - | - | - |
| Cash at bank and in hand54/58 | €30k | €20k | €25k | €8k | €33k | ▲ 323% |
| Deferred charges and accrued income490/1 | €1k | €2k | €3k | €2k | €2k | ▲ 16.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €143k | €141k | €153k | €164k | €173k | ▲ 5.6% |
| Equity10/15 | €115k | €116k | €122k | €129k | €135k | ▲ 4.8% |
| Contributions10/11 | €75k | €75k | €75k | €75k | €75k | = |
| Reserves13 | €20k | €20k | €26k | €33k | €40k | ▲ 18.5% |
| Non-distributable reserves130/1 | €20k | €20k | €20k | €20k | €20k | = |
| Reserves not available under the articles1311 | €2k | €2k | €20k | €20k | €20k | = |
| Other1319 | €18k | €18k | - | - | - | - |
| Distributable reserves133 | - | - | €6k | €13k | €19k | ▲ 47.3% |
| Profit (loss) carried forward14 | €19k | €20k | €20k | €20k | €20k | = |
| Amounts payable17/49 | €28k | €26k | €32k | €36k | €39k | ▲ 8.4% |
| Amounts payable within one year42/48 | €28k | €26k | €32k | €36k | €39k | ▲ 8.4% |
| Trade debts44 | €6k | €3k | €1k | €3k | €536 | ▼ 81.4% |
| Suppliers440/4 | €6k | €3k | €1k | €3k | €536 | ▼ 81.4% |
| Taxes, remuneration and social security45 | €19k | €20k | €27k | €26k | €33k | ▲ 30.4% |
| Taxes450/3 | €15k | €16k | €19k | €13k | €15k | ▲ 22.1% |
| Remuneration and social security454/9 | €4k | €4k | €8k | €13k | €18k | ▲ 38.5% |
| Other amounts payable47/48 | €3k | €3k | €3k | €7k | €5k | ▼ 34.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2k | €975 | €6k | €7k | €6k | ▼ 12.7% |
| + Depreciation and write-downs630 | €981 | €521 | €521 | €8k | €12k | ▲ 48.8% |
| Operating cash flow (approximation) | €3k | €1k | €7k | €15k | €18k | ▲ 20.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-59k | €-791 | ▲ 98.7% |
| Change in cash | - | €-10k | €5k | €-17k | €25k | ▲ 247% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Highest result since 2018net €7k ▲18%
Operating result €9k, net result €7k, both a record.
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 59 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2019
31-12
Financial
Liquidity doublescurrent ratio 12.21
Current ratio from 5.42 to 12.21; short-term debt falls from €27k to €11k.
03-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 3 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 29 days late
2017
29-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 121 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Tervuren · 1 establishment unit since 1998
Ground area
7,470 m²
Building footprint
647 m²
Volume, LiDAR
2,615 m³
2 parcels, Flanders · tallest building 13.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Lodderhoekstraat 17, 3078 Kortenberg
since 19982.087.180.969
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24302F0145/00P002 | Flanders | 4,091 m² | 1 · 209 m² | 13.2 m · 3 fl. |
| 24026A0398/00B000 | Flanders | 3,379 m² | 1 · 438 m² | 13.8 m |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 11,756 companies in sector 68310 we hold annual accounts for 6,904. 5,253 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded12-01-1998
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
Scores and ratios are computed by Checked and are not a credit decision.