Germagas
ActiveSummary
Germagas has been active since 1970 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €536k and a net result of €57k. Equity is growing by ~8.6% per year across the filed fiscal years. Its solvency ranks better than 62% of 7777 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
75
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability76▲+34
Solvency79▲+9
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 2.64 against 2.0 in 2024; short-term debt: 27.3% and cash: 18.5% of total assets), and 45.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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
54.2%
Return on assets
5.8%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 22-10-2025, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
27 d late
2023
on the day
2022
9 d late
2021
3 d late
2019
31 d late
2018
63 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close24-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€1.48M
EBIT margin
0.5%
Net result
€57k
2024 · €-10k
2018: €-5k
2019: €41k
2021: €197k
2022: €33k
2023: €28k
2024: €-10k
2018 → 2025
Working capital
€441k▲ 12.7%
2024 · €392k
2018: €288k
2019: €302k
2021: €439k
2022: €408k
2023: €404k
2024: €392k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€494k-€497k▲ 0.6%€500k▲ 0.6%€490k▼ 1.9%€536k▲ 9.5%
Operating result€310k-€65k▼ 78.9%€45k▼ 30.4%€3k▼ 92.5%€95k▲ 2,685%
Net result€197k-€33k▼ 83.4%€28k▼ 14.8%€-10k€57k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 2,685% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €989k
Fixed assets
€278k ▼ 11.9%
Current assets
€711k ▼ 9.2%
Equity and liabilities €989k
Equity
€536k ▲ 9.5%
Debt
€453k ▼ 25.6%
Debt's share of the balance-sheet total falls from 55.4% to 45.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€140k▲
2024 · €46k
Cash flow
€102k▲
2024 · €33k
Current ratio
2.64▲
2024 · 2.00
Quick ratio
2.24▲
2024 · 1.72
Debt to equity
0.84▼
2024 · 1.24
ROE
10.6%▲
2024 · -2.0%
ROA
5.8%▲
2024 · -0.9%
Interest coverage
6.48▲
2024 · 2.87
Debt ≤ 1 year
€270k▼
2024 · €391k
Debt > 1 year
€183k▼
2024 · €217k
Income taxes
€24k▲
2024 · €2k
Staff costs
€575k▲
2024 · €516k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 59 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.10M€989k▼
Fixed assets21/28€315k€278k▼
Tangible fixed assets22/27€315k€278k▼
Land and buildings22€246k€229k▼
Plant, machinery and equipment23€4k€3k▼
Furniture and vehicles24€10k€11k▲
Leasing and similar rights25€56k€35k▼
Financial fixed assets28€164€164=
Current assets29/58€783k€711k▼
Stocks and contracts in progress3€112k€106k▼
Stocks30/36€112k€106k▼
Contracts in progress37€0-
Amounts receivable within one year40/41€524k€345k▼
Trade receivables40€451k€285k▼
Other amounts receivable41€73k€60k▼
Current investments50/53€64k€65k▲
Cash at bank and in hand54/58€72k€183k▲
Deferred charges and accrued income490/1€11k€12k▲
Equity and liabilities
Total equity and liabilities10/49€1.10M€989k▼
Equity10/15€490k€536k▲
Contributions10/11€19k€19k=
Reserves13€481k€525k▲
Tax-exempt reserves132€5k€5k=
Distributable reserves133€476k€520k▲
Profit (loss) carried forward14€-10k€-7k▲
Amounts payable17/49€608k€453k▼
Amounts payable after more than one year17€217k€183k▼
Financial debts170/4€217k€183k▼
Amounts payable within one year42/48€391k€270k▼
Current portion of amounts payable after more than one year42€41k€26k▼
Trade debts44€304k€193k▼
Suppliers440/4€304k€193k▼
Taxes, remuneration and social security45€26k€45k▲
Taxes450/3€2k€9k▲
Remuneration and social security454/9€25k€36k▲
Other amounts payable47/48€20k€6k▼
Income statement
Code20242025
Non-recurring operating income76A€125€14k▲
Remuneration, social security and pensions62€516k€575k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€43k€45k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€9k€29k▲
Gross operating margin9900€572k€744k▲
Operating profit (loss)9901€3k€95k▲
Financial income75/76B€5k€8k▲
Recurring financial income75€5k€8k▲
Financial charges65/66B€16k€22k▲
Recurring financial charges65€16k€22k▲
Profit (loss) for the period before taxes9903€-8k€81k▲
Income taxes67/77€2k€24k▲
Profit (loss) for the period9904€-10k€57k▲
Profit (loss) for the period to be appropriated9905€-10k€57k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-10k€48k▲
Profit (loss) brought forward from the previous period14P-€-10k
Transfer from equity791/2-€11k
Transfer to equity691/2€0€55k▲
To other reserves6921€0€55k▲
Profit to be distributed694/7€0€11k▲
Return on contributions (dividend)694€0€11k▲
Social balance
Average headcount (FTE)90878.08.6▲
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
State Gazette act
Registered officeRegistered-office move2 facts ▸
State Gazette act
Registered office
Registered-office move2 facts ▸
- Board meeting, 30-07-2026
- Registered-office move, 8560 Wevelgem (Gullegem), Drieslaan 86
2025
22-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Back to profitnet €57k
Net result €57k after one loss-making year.
31-03
Financial
Equity above €500kEq €536k ▲9.5%
Equity rises from €490k to €536k.
2024
27-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 27 days late
31-03
Financial
Weakest financial yearnet €-10k ▼134%
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
09-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 9 days late
2021
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 3 days late
31-03
Financial
Highest result since 2018net €197k ▲377%
Operating result €310k, net result €197k, both a record.
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
2019
31-12
Financial
Back to profitnet €41k
Net result €41k after one loss-making year.
Show earlier events
29-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
31-05
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Wevelgem · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Drieslaan 868560 WevelgemGround area
1,275 m²
Building footprint
566 m²
Volume, LiDAR
2,993 m³
2 parcels, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GERMAGAS
since 20062.154.906.171
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34012A0405/00T000 | Flanders | 1,147 m² | 1 · 450 m² | 6.3 m · 2 fl. |
| 34012D0063/00D000 | Flanders | 128 m² | 1 · 116 m² | 11.2 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 3,000 EUR awarded · 3,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,000 EUR | 1,000 EUR |
| 2024 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Hinderpremie bij openbare werken
Premie kwalificerend werkplekleren
Recognitions · licences · registrations
Dual-learning approval
2 live approvals · 3 endedSanitaire en verwarmingsinstallaties duaal (so)
Vakman installatietechnieken (vwo)
Show 3 ended approvals
Monteur sanitaire en verwarmingsinstallaties duaal (so)
Monteur centrale verwarming (so)
Sanitair installateur (so)
Similar companies · same sector, comparable size
HESA
BE 0864.101.140
Lebbeke · Eq €536,224
ACKE DIETER & RUDDY
BE 0428.960.328
Wevelgem · Eq €536,023
CREFFIER BATIMENT
BE 0476.497.157
Beyne-Heusay · Eq €536,780
RACCORD LWW
BE 0648.607.920
Deerlijk · Eq €535,056
ETABLISSEMENTS LEON STIERS
BE 0434.197.239
Nivelles · Eq €538,443
Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 3,920 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-05-1970
Fiscal year end31-03
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
47300Retail sale of automotive fuel
46431Wholesale of electrical household appliances and audio-video equipment
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.