Equity
GERMA has made a profit without a break since 2007.
GERMA has made a profit without a break since 2007.
Green is investment, beige is depreciation.
The 2017 accounts came 14 days late. The other nine of the last ten were filed on time.
The dashed line is the sector median: 0.4% across 26,895 companies (NACE 46, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 90% of them on solvency, 98% on liquidity, 74% on profitability and 66% on growth.
The bankruptcy probability was computed on 06-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
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).
In July 2024, 20,137 companies had the same profile as GERMA has now. Each dot stands for 51 companies, two years later.
That fits the bankruptcy probability of GERMA itself: < 0.1% within 12 months.
The method was tested on the 497,447 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 20,137 companies, not a prediction for GERMA. 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.
Liquidity is ample, with a current ratio of 22.01 (27.24 in 2024), above the usual 1.5. Short-term debt is 3.9% and cash 46.2% of total assets. 3.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 34 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
GERMA files the micro format. That format states no turnover. The gross margin rose from €689 in 2006 to €74,708 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €220,000. Estimated: probably between €150,000 and €390,000.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
491,285 | 440,177 | 401,258 | 314,026 | 253,773 | 238,837 | 203,884 | 198,584 | 190,251 | 225,158 | 205,481 | 190,287 | 134,552 | 129,330 | 192,508 | 128,360 | 139,487 | 110,530 | 102,761 | 92,054 | |
21/28 |
69,756 | 3,233 | 4,516 | 2,349 | 11,822 | 17,694 | 26,541 | 41,023 | 19,107 | 32,578 | 46,049 | 31,342 | 186 | 12,466 | 24,188 | 35,759 | 52,817 | 312 | 520 | 6,963 | |
22/27 |
69,756 | 3,233 | 4,516 | 2,349 | 11,822 | 17,694 | 26,541 | 41,023 | 19,107 | 32,578 | 46,049 | 31,342 | 186 | 12,466 | 24,188 | 35,759 | 52,817 | 312 | 520 | 6,963 | |
23 |
1,647 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
24 |
68,109 | 3,233 | 4,516 | 2,349 | 11,822 | 17,694 | 26,541 | 41,023 | 19,107 | 32,578 | 46,049 | 31,342 | 186 | 12,466 | 24,188 | 35,759 | 52,817 | 312 | 520 | - | |
29/58 |
421,529 | 436,945 | 396,742 | 311,677 | 241,950 | 221,143 | 177,344 | 157,561 | 171,145 | 192,580 | 159,432 | 158,945 | 134,366 | 116,864 | 168,320 | 92,601 | 86,670 | 110,218 | 102,241 | 85,091 | |
3 |
27,010 | 29,202 | 29,526 | 31,563 | 36,539 | 34,631 | 35,169 | 31,900 | 40,680 | 43,274 | 45,804 | 47,286 | 48,962 | 39,651 | 43,858 | 39,471 | 34,680 | 44,123 | 42,539 | 37,745 | |
30/36 |
27,010 | 29,202 | 29,526 | 31,563 | 36,539 | 34,631 | 35,169 | 31,900 | 40,680 | 43,274 | 45,804 | 47,286 | 48,962 | 39,651 | 43,858 | 39,471 | 34,680 | 44,123 | 42,539 | 37,745 | |
40/41 |
165,881 | 106,341 | 142,666 | 177,898 | 149,245 | 82,588 | 105,785 | 106,619 | 123,798 | 94,446 | 68,840 | 78,070 | 80,096 | 68,276 | 104,338 | 32,569 | 51,693 | 62,988 | 57,337 | 45,056 | |
40 |
161,077 | 98,580 | 142,666 | 177,898 | 149,245 | 82,588 | 105,785 | 104,705 | 119,704 | 90,432 | 62,156 | 69,642 | 77,933 | 65,262 | 103,516 | 31,747 | 51,029 | 62,988 | 57,337 | 45,056 | |
41 |
4,804 | 7,762 | - | - | - | - | - | 1,915 | 4,094 | 4,013 | 6,684 | 8,428 | 2,163 | 3,014 | 822 | 822 | 664 | - | - | - | |
50/53 |
0 | 250,000 | 150,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
54/58 |
227,181 | 50,558 | 74,550 | 102,216 | 56,166 | 103,924 | 36,390 | 19,041 | 6,667 | 54,861 | 43,200 | 32,337 | 3,101 | 5,880 | 18,006 | 20,561 | 297 | 2,794 | 633 | 400 | |
490/1 |
1,457 | 843 | - | - | - | - | - | - | - | - | 1,588 | 1,252 | 2,207 | 3,057 | 2,118 | - | - | 313 | 1,732 | 1,890 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
491,285 | 440,177 | 401,258 | 314,026 | 253,773 | 238,837 | 203,884 | 198,584 | 190,251 | 225,158 | 205,481 | 190,287 | 134,552 | 129,330 | 192,508 | 128,360 | 139,487 | 110,530 | 102,761 | 92,054 | |
10/15 |
472,137 | 424,134 | 367,517 | 285,799 | 232,099 | 179,394 | 125,846 | 89,402 | 58,687 | 45,069 | 24,124 | 3,812 | -5,209 | -11,879 | -24,330 | -26,883 | -27,783 | -30,855 | -38,189 | -41,486 | |
10/11 |
18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 14,874 | 14,874 | 14,874 | 14,874 | 14,874 | 14,874 | |
100 |
- | - | - | - | - | - | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | 18,592 | |
101 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 3,718 | 3,718 | 3,718 | 3,718 | 3,718 | 3,718 | |
13 |
453,545 | 405,542 | 348,925 | 267,207 | 213,507 | 160,802 | 107,254 | 70,810 | 40,095 | 26,477 | 5,532 | - | - | - | - | - | - | - | - | - | |
130/1 |
- | - | - | 1,859 | 1,859 | 1,859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,859 | 1,859 | 1,859 | 1,859 | 1,859 | - | - | - | - | - | - | - | - | - | |
1311 |
- | - | - | 1,859 | 1,859 | 1,859 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
133 |
453,545 | 405,542 | 348,925 | 265,348 | 211,648 | 158,942 | 105,395 | 68,951 | 38,236 | 24,618 | 3,673 | - | - | - | - | - | - | - | - | - | |
14 |
- | - | - | - | - | - | - | - | - | - | - | -14,780 | -23,801 | -30,471 | -39,204 | -41,757 | -42,657 | -45,729 | -53,063 | -56,360 | |
17/49 |
19,148 | 16,043 | 33,741 | 28,227 | 21,674 | 59,443 | 78,039 | 109,182 | 131,564 | 180,089 | 181,357 | 186,475 | 139,761 | 141,209 | 216,838 | 155,243 | 167,270 | 141,385 | 140,950 | 133,540 | |
17 |
- | - | - | - | - | - | - | - | 1,359 | 12,158 | 26,526 | 23,356 | - | 8,391 | 17,987 | 30,214 | 41,936 | 3,067 | 6,966 | 18,480 | |
170/4 |
- | - | - | - | - | - | - | - | 1,359 | 12,158 | 26,526 | 23,356 | - | 8,391 | 17,987 | 30,214 | 41,936 | 3,067 | 6,966 | 18,480 | |
42/48 |
19,148 | 16,043 | 33,741 | 28,227 | 21,674 | 59,443 | 78,039 | 109,182 | 130,205 | 167,931 | 154,831 | 163,119 | 139,761 | 132,818 | 198,851 | 125,029 | 125,334 | 138,212 | 133,984 | 115,060 | |
42 |
- | - | - | - | - | - | - | 1,359 | 10,799 | 14,368 | 14,013 | 8,592 | 8,391 | 9,596 | 12,245 | 11,722 | 14,292 | 3,899 | 11,514 | 10,725 | |
43 |
1,119 | 659 | - | - | - | - | - | - | 13,750 | 18,333 | 18,341 | 10,000 | 10,000 | - | 1,667 | 5,000 | 16,262 | - | - | 6,279 | |
430/8 |
- | - | - | - | - | - | - | - | 13,750 | 18,333 | 18,341 | 10,000 | 10,000 | - | 1,667 | 5,000 | 16,262 | - | - | 6,279 | |
439 |
1,119 | 659 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
44 |
2,283 | 966 | 2,819 | 7,987 | 3,017 | 40,713 | 61,376 | 98,802 | 78,971 | 90,140 | 78,403 | 100,355 | 83,189 | 95,804 | 137,721 | 83,204 | 80,931 | 89,501 | 79,775 | 58,237 | |
440/4 |
2,283 | 966 | 2,819 | 7,987 | 3,017 | 40,713 | 61,376 | 98,802 | 78,971 | 90,140 | 78,403 | 100,355 | 83,189 | 95,804 | 137,721 | 83,204 | 80,931 | 89,501 | 79,775 | 58,237 | |
45 |
15,746 | 14,418 | 29,196 | 18,627 | 14,074 | 12,443 | 14,829 | 6,620 | 4,926 | 670 | - | - | 4,591 | 11,078 | 25,499 | 8,435 | 5,083 | 10,152 | 4,231 | 5,092 | |
450/3 |
15,746 | 14,418 | 29,196 | 18,627 | 14,074 | 12,443 | 14,829 | 6,620 | 4,926 | 670 | - | - | 4,591 | 11,078 | 25,499 | 8,435 | 5,083 | 10,152 | 4,231 | 5,092 | |
47/48 |
- | 0 | 1,726 | 1,614 | 4,582 | 6,286 | 1,834 | 2,400 | 21,759 | 44,420 | 44,074 | 44,172 | 33,590 | 16,340 | 21,719 | 16,668 | 8,766 | 34,660 | 38,464 | 34,727 | |
492/3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 106 | - | - | |
| Income statement | |||||||||||||||||||||
76A |
413 | 0 | 500 | - | - | - | - | - | - | - | - | 2,500 | - | - | - | 500 | 100 | - | - | - | |
9900 |
74,708 | 87,834 | 127,550 | 96,026 | 93,722 | 92,259 | 78,503 | 77,619 | 42,391 | 54,006 | 55,498 | 27,383 | 29,300 | 31,715 | 31,212 | 24,687 | 32,498 | 21,984 | 18,625 | 689 | |
62 |
974 | 598 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
630 |
6,125 | 1,284 | 1,119 | 9,473 | 9,003 | 8,847 | 14,482 | 14,482 | 13,471 | 13,471 | 13,471 | 8,022 | 12,280 | 12,280 | 12,094 | 12,058 | 13,343 | 208 | 7,310 | 7,186 | |
631/4 |
605 | - | - | - | 863 | - | - | - | -348 | -4,072 | 4,072 | - | - | - | 348 | - | - | - | - | - | |
640/8 |
1,023 | 1,213 | 1,420 | 1,317 | 1,309 | 1,960 | 1,493 | 2,532 | 1,555 | 1,692 | 1,997 | 2,171 | 1,599 | 1,644 | 2,735 | 2,641 | 3,870 | 2,473 | 3,686 | 4,478 | |
66A |
- | - | - | - | - | - | - | 3,835 | 348 | 4,071 | - | - | - | - | - | 1,694 | - | - | - | - | |
9901 |
65,982 | 84,739 | 125,010 | 85,236 | 82,546 | 81,453 | 62,528 | 56,769 | 27,365 | 38,843 | 35,958 | 17,190 | 15,421 | 17,791 | 16,035 | 9,988 | 15,285 | 19,303 | 7,629 | -10,975 | |
75/76B |
8,427 | 2,852 | 565 | 217 | 118 | 113 | 237 | - | 50 | 1,075 | 20 | 23 | 509 | 243 | 207 | 101 | 106 | 204 | 360 | 156 | |
75 |
8,427 | 2,852 | 565 | 217 | 118 | 113 | 237 | - | 50 | 1,075 | 20 | 23 | 509 | 243 | 207 | 101 | 106 | 204 | 360 | 156 | |
65/66B |
70 | 24 | 69 | 64 | 77 | 142 | 162 | 247 | 711 | 1,150 | 1,553 | 1,574 | 1,415 | 2,286 | 4,602 | 3,575 | 2,826 | 2,081 | 2,490 | 3,065 | |
65 |
70 | 24 | 69 | 64 | 77 | 142 | 162 | 247 | 711 | 1,150 | 1,553 | 1,574 | 1,415 | 2,286 | 4,602 | 3,575 | 2,826 | 2,081 | 2,490 | 3,065 | |
9903 |
74,339 | 87,567 | 125,506 | 85,389 | 82,587 | 81,424 | 62,603 | 56,523 | 26,704 | 38,768 | 34,425 | 18,139 | 14,515 | 15,748 | 11,640 | 5,320 | 12,665 | 17,426 | 5,499 | -13,884 | |
67/77 |
26,336 | 30,950 | 43,787 | 31,689 | 29,882 | 27,876 | 26,160 | 25,808 | 13,086 | 17,823 | 14,113 | 9,118 | 7,845 | 7,015 | 9,087 | 4,420 | 9,593 | 10,092 | 2,202 | - | |
9904 |
48,003 | 56,617 | 81,719 | 53,700 | 52,705 | 53,548 | 36,444 | 30,715 | 13,618 | 20,945 | 20,312 | 9,021 | 6,670 | 8,733 | 2,553 | 900 | 3,072 | 7,334 | 3,297 | -13,884 | |
9905 |
48,003 | 56,617 | 81,719 | 53,700 | 52,705 | 53,548 | 36,444 | 30,715 | 13,618 | 20,945 | 20,312 | 9,021 | 6,670 | 8,733 | 2,553 | 900 | 3,072 | 7,334 | 3,297 | -13,884 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
48,003 | 56,617 | 81,719 | 53,700 | 52,705 | 53,548 | 36,444 | 30,715 | 13,618 | 20,945 | 5,532 | -14,780 | -23,801 | -30,471 | -39,204 | -41,757 | -42,657 | -45,729 | -53,063 | -56,360 | |
691/2 |
48,003 | 56,617 | 81,719 | 53,700 | 52,705 | 53,548 | 36,444 | 30,715 | 13,618 | 20,945 | 5,532 | - | - | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | 1,859 | - | - | - | - | - | - | - | - | - | |
6921 |
48,003 | 56,617 | 81,719 | 53,700 | 52,705 | 53,548 | 36,444 | 30,715 | 13,618 | 20,945 | 3,673 | - | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||||||||
The accounts for 15 older financial years (1991-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 11 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 22-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-06-2026 | 2026-00182328 | |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00187495 | |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00214818 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00165432 | |
| 31-12-2021 | micro format | 29-06-2022 | 2022-20133191 | |
| 31-12-2020 | micro format | 22-06-2021 | 2021-22700438 | |
| 31-12-2019 | micro format | 03-07-2020 | 2020-25700129 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-24600377 | |
| 31-12-2017 | micro format | 14-08-2018 | 2018-45600007 | |
| 31-12-2016 | micro format | 20-07-2017 | 2017-33600593 | |
| 31-12-2015 | abbreviated format | 14-06-2016 | 2016-17400221 | |
| 31-12-2014 | abbreviated format | 18-06-2015 | 2015-18400395 | |
| 31-12-2013 | abbreviated format | 10-07-2014 | 2014-28900002 | |
| 31-12-2012 | abbreviated format | 16-07-2013 | 2013-30800175 | |
| 31-12-2011 | abbreviated format | 26-06-2012 | 2012-21100451 | |
| 31-12-2010 | abbreviated format | 13-07-2011 | 2011-28800444 | |
| 31-12-2009 | abbreviated format | 27-07-2010 | 2010-34900074 | |
| 31-12-2008 | abbreviated format | 18-06-2009 | 2009-25100398 | |
| 31-12-2007 | abbreviated format | 30-06-2008 | 2008-32500203 | |
| 31-12-2006 | abbreviated format | 05-07-2007 | 2007-35900366 | |
| 31-12-2005 | abbreviated format | 20-06-2006 | 2006-27800837 | |
| 31-12-2004 | abbreviated format | 29-06-2005 | 2005-37001175 | |
| 31-12-2003 | abbreviated format | 29-06-2004 | 2004-34700830 | |
| 31-12-2002 | abbreviated format | 02-07-2003 | 2003-37202441 | |
| 31-12-2001 | abbreviated format | 28-06-2002 | 2002-30202872 | |
| 31-12-2000 | abbreviated format | 04-07-2001 | 2001-33404465 | |
| 31-12-1999 | abbreviated format | 27-06-2000 | 2000-29304579 | |
| 31-12-1998 | abbreviated format | 05-07-1999 | 1999-30102260 | |
| 31-12-1997 | abbreviated format | 16-06-1998 | 1998-18400921 | |
| 31-12-1996 | abbreviated format | 20-06-1997 | 1997-18300334 | |
| 31-12-1995 | abbreviated format | 28-06-1996 | 1996-27501198 | |
| 31-12-1994 | abbreviated format | 13-12-1995 | 1995-59800932 | |
| 31-12-1993 | abbreviated format | 21-11-1994 | 1994-47504113 | |
| 31-12-1992 | abbreviated format | 10-09-1993 | 1993-35303101 | |
| 31-12-1991 | abbreviated format | 27-08-1992 | 1992-29701388 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 72,107 | 86,023 | 126,129 | 94,709 | 91,549 | 90,300 | 77,010 | 71,252 | 40,836 | 52,314 | 49,429 | 25,212 | 27,701 | 30,071 | 28,129 | 22,046 | 28,628 | 19,511 | 14,939 | -3,789 | ||
| 54,128 | 57,901 | 82,838 | 63,173 | 61,709 | 62,395 | 50,926 | 45,197 | 27,089 | 34,416 | 33,783 | 17,043 | 18,950 | 21,013 | 14,647 | 12,958 | 16,415 | 7,542 | 10,607 | -6,698 | ||
| 72,648 | 0 | 3,287 | 0 | 3,132 | 0 | 0 | 44,234 | 0 | -0 | 28,178 | 39,177 | 0 | 558 | 523 | -5,000 | 65,848 | 0 | 867 | - | ||
| 176,623 | -23,992 | -27,666 | 46,050 | -47,758 | 67,534 | 17,349 | 12,375 | -48,194 | 11,661 | 10,863 | 29,236 | -2,779 | -12,126 | -2,555 | 20,264 | -2,497 | 2,161 | 233 | - | ||
| 402,381 | 420,902 | 363,001 | 283,450 | 220,277 | 161,700 | 99,305 | 48,379 | 40,940 | 24,650 | 4,601 | -4,174 | -5,395 | -15,954 | -30,531 | -32,428 | -38,664 | -27,994 | -31,743 | -29,969 | ||
| 96.1% | 96.4% | 91.6% | 91.0% | 91.5% | 75.1% | 61.7% | 45.0% | 30.8% | 20.0% | 11.7% | 2.0% | -3.9% | -9.2% | -12.6% | -20.9% | -19.9% | -27.9% | -37.2% | -45.1% | ||
| 22.01 | 27.24 | 11.76 | 11.04 | 11.16 | 3.72 | 2.27 | 1.44 | 1.31 | 1.15 | 1.03 | 0.97 | 0.96 | 0.88 | 0.85 | 0.74 | 0.69 | 0.80 | 0.76 | 0.74 | ||
| 20.60 | 25.42 | 10.88 | 9.92 | 9.48 | 3.14 | 1.82 | 1.15 | 1.00 | 0.89 | 0.73 | 0.68 | 0.61 | 0.58 | 0.63 | 0.42 | 0.41 | 0.48 | 0.45 | 0.41 | ||
| 0.04 | 0.04 | 0.09 | 0.10 | 0.09 | 0.33 | 0.62 | 1.22 | 2.24 | 4.00 | 7.52 | 48.92 | - | - | - | - | - | - | - | - | ||
| 10.2% | 13.3% | 22.2% | 18.8% | 22.7% | 29.8% | 29.0% | 34.4% | 23.2% | 46.5% | 84.2% | 236.6% | - | - | - | - | - | - | - | - | ||
| 9.8% | 12.9% | 20.4% | 17.1% | 20.8% | 22.4% | 17.9% | 15.5% | 7.2% | 9.3% | 9.9% | 4.7% | 5.0% | 6.8% | 1.3% | 0.7% | 2.2% | 6.6% | 3.2% | -15.1% | ||
| over 100 | over 100 | over 100 | over 100 | over 100 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
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.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €72,648 | - | €3,287 | - | €3,132 |
| Financial fixed assets | €0 | - | - | - | - |
| €6,125 | €1,284 | €1,119 | €9,473 | €9,003 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 22% lower than in 2024 and the lowest since 2019. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 3.6% to 3.9%. Equity and debt are higher.
GERMA has no parent and no holdings in its annual accounts. VAN den BERGHE Marc Victor is the only director. GERMA shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
GERMA was incorporated on 1 November 1990.1 Since 1991, VAN den BERGHE Marc Victor has served as director.2 Total assets rose from €198,584 in 2018 to €491,285 in 2025.3
| Establishment | Since | Unit number |
|---|---|---|
| Wissenstraat 2 registered office 2880 Bornem 46720 Wholesale of motor vehicle parts and accessories | 07-05-1991 | 2.052.716.869 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 12015A0715/00C000 | 781 m² | 1 · 173 m² | 6.4 m · 1 |
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