GERMINA
ActiveSummary
GERMINA has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.66M and a net result of €1.36M. Equity is growing by ~4.8% per year across the filed fiscal years. Its solvency ranks better than 49% of 4867 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
76
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+14
Solvency70▲+11
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €350k at 30 days acceptable
Liquidity short (current ratio 0.8 against 0.32 in 2024; short-term debt: 24.2% and cash: 0.1% of total assets), and 55% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five 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
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
45%
Return on assets
13.1%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
29 d late
2023
8 d early
2022
60 d early
2021
46 d early
2020
33 d early
2019
15 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€1.36M▲ 798%
2024 · €151k
2018: €126k
2019: €-7k
2020: €131k
2021: €212k
2022: €80k
2023: €-160k
2024: €151k
2018 → 2025
Working capital
€-510k▲ 39.4%
2024 · €-841k
2018: €-88k
2019: €246k
2020: €-1.36M
2021: €427k
2022: €-1.49M
2023: €-472k
2024: €-841k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.59M-€1.67M▲ 5.0%€3.40M▲ 103%€3.31M▼ 2.6%€4.66M▲ 41.0%
Operating result€283k-€120k▼ 57.4%€-74k€400k€1.92M▲ 379%
Net result€212k-€80k▼ 62.4%€-160k€151k€1.36M▲ 798%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 379% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.36M
Fixed assets
€8.36M ▼ 9.8%
Current assets
€2.00M ▲ 395%
Equity and liabilities €10.36M
Equity
€4.66M ▲ 41.0%
Debt
€5.69M ▼ 10.5%
Debt's share of the balance-sheet total falls from 65.8% to 55.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€2.52M▲
2024 · €1.02M
Cash flow
€1.96M▲
2024 · €766k
Current ratio
0.80▲
2024 · 0.32
Debt to equity
1.22▼
2024 · 1.92
ROE
29.1%▲
2024 · 4.6%
ROA
13.1%▲
2024 · 1.6%
Interest coverage
24.80▲
2024 · 9.64
Debt ≤ 1 year
€2.51M▲
2024 · €1.24M
Debt > 1 year
€3.09M▼
2024 · €5.06M
Income taxes
€463k▲
2024 · €406k
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 · 61 lines
Balance sheet
Code20242025
Assets
Total assets20/58€9.67M€10.36M▲
Fixed assets21/28€9.26M€8.36M▼
Tangible fixed assets22/27€9.26M€8.36M▼
Land and buildings22€8.52M€7.69M▼
Plant, machinery and equipment23€750k€670k▼
Current assets29/58€403k€2.00M▲
Amounts receivable within one year40/41€375k€83k▼
Trade receivables40€95k€62k▼
Other amounts receivable41€280k€21k▼
Cash at bank and in hand54/58€5k€14k▲
Deferred charges and accrued income490/1€23k€1.90M▲
Equity and liabilities
Total equity and liabilities10/49€9.67M€10.36M▲
Equity10/15€3.31M€4.66M▲
Contributions10/11€364k€364k=
Capital10€364k€364k=
Issued capital100€364k€364k=
Reserves13€1.18M€1.18M=
Non-distributable reserves130/1€36k€36k=
Legal reserve130€36k€36k=
Tax-exempt reserves132€38k€38k=
Distributable reserves133€1.11M€1.11M=
Profit (loss) carried forward14€1.76M€3.12M▲
Provisions and deferred taxes16€0-
Provisions for liabilities and charges160/5€0-
Other liabilities and charges164/5€0-
Deferred taxes168€0-
Amounts payable17/49€6.36M€5.69M▼
Amounts payable after more than one year17€5.06M€3.09M▼
Financial debts170/4€5.06M€3.09M▼
Other amounts payable178/9€0-
Amounts payable within one year42/48€1.24M€2.51M▲
Current portion of amounts payable after more than one year42€732k€743k▲
Trade debts44€172k€39k▼
Suppliers440/4€172k€39k▼
Taxes, remuneration and social security45€100k€100k=
Taxes450/3€100k€100k=
Other amounts payable47/48€240k€1.63M▲
Accrued charges and deferred income492/3€54k€91k▲
Income statement
Code20242025
Non-recurring operating income76A-€1.58M
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€615k€600k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-152k€0▲
Other operating charges640/8€17k€12k▼
Gross operating margin9900€880k€2.53M▲
Operating profit (loss)9901€400k€1.92M▲
Financial income75/76B€7k€4k▼
Recurring financial income75€7k€4k▼
Financial charges65/66B€105k€101k▼
Recurring financial charges65€105k€101k▼
Profit (loss) for the period before taxes9903€302k€1.82M▲
Transfer from deferred taxes780€255k€0▼
Income taxes67/77€406k€463k▲
Profit (loss) for the period9904€151k€1.36M▲
Transfer from tax-exempt reserves789€478k€0▼
Profit (loss) for the period to be appropriated9905€629k€1.36M▲
Appropriation of the result
Profit (loss) to be appropriated9906€2.00M€3.12M▲
Profit (loss) brought forward from the previous period14P€1.37M€1.76M▲
Transfer to equity691/2€2k€0▼
To the legal reserve6920€2k€0▼
Profit to be distributed694/7€240k€0▼
Return on contributions (dividend)694€240k€0▼
Social balance
Average headcount (FTE)9087-0.0
The notes to these accounts (16 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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €1.36M ▲798%
Operating result €1.92M, net result €1.36M, both a record.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Back to profitnet €151k
Net result €151k after one loss-making year.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-160k ▼301%
Net result drops to €-160k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €2MEq €3.40M ▲103%
Equity rises from €1.67M to €3.40M.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity times 18current ratio 7.36
Current ratio from 0.42 to 7.36; short-term debt falls from €2.33M to €67k.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €131k
Net result €131k after one loss-making year.
Show earlier events
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
14-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
17-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 acts for this company are 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, Gent · 1 establishment unit since 1933
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.
Industrieweg 989032 GentGround area
2.2 ha
Building footprint
358 m²
Volume, LiDAR
1,862 m³
2 parcels, Flanders · tallest building 13.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Kleindokkaai 1, 9000 Gent
since 19332.004.001.192
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44074C0150/00R000 | Flanders | 2.0 ha | 1 · 63 m² | - |
| 44807G0728/02B014 | Flanders | 2,629 m² | 1 · 294 m² | 13.3 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.
Similar companies · same sector, comparable size
Aegten
BE 0414.385.384
Oudsbergen · Eq €4.67M
SEYNAVE ET FILS
BE 0425.109.230
Estaimpuis · Eq €4.70M
HAPRO
BE 0436.192.469
Wingene · Eq €4.47M
AGRO PRODUCTS EQUIPMENTS SERVICES
BE 0432.091.250
Sint-Katelijne-Waver · Eq €4.87M
AGRICAMP
BE 0446.951.254
Dessel · Eq €4.44M
Of 689 companies in sector 46216 we hold annual accounts for 476. 293 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 formPublic limited company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL 2025
46216Wholesale of agricultural produce and animal feed, general range
47789Other retail sale of new goods
Sources
Crossroads Bank for EnterprisesNational Bank · 48 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.