GERMY
ActiveSummary
GERMY has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €389,874 and a net result of €86,816. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 57% of 13484 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▼-2
Solvency64▼-36
Growth58=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 2.26 against 8.29 in 2024; short-term debt: 13.4% and cash: 3.3% of total assets), but 61% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more 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
39%
Return on assets
8.7%
Age of the figures
12 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
18202122232425
2018 to 2025 · latest year €389,874
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 23-02-2026, 66 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
66 d early
2024
on the day
2023
4 d early
2022
31 d early
2021
2 d early
2020
4 d early
2018
64 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 24 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€389,874▲ 20.9%
2024 · €322,468
Total assets
€1.0m▲ 171%
2024 · €369,720
Net result
€86,816▲ 120%
2024 · €39,377
Working capital
€169,728▼ 41.5%
2024 · €290,163
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-€115,351▼ 177%-€26,759▲ 76.8%€55,206€29,502▼ 46.6%€107,027▲ 263%
Net result-€109,699▼ 478%-€11,107▲ 89.9%€51,942€39,377▼ 24.2%€86,816▲ 120%
Equity€242,255▼ 31.2%€231,149▼ 4.6%€283,091▲ 22.5%€322,468▲ 13.9%€389,874▲ 20.9%
Total assets€378,741▼ 13.4%€372,167▼ 1.7%€325,707▼ 12.5%€369,720▲ 13.5%€1.0m▲ 171%
Debt€136,485▲ 60.2%€141,018▲ 3.3%€42,616▼ 69.8%€47,252▲ 10.9%€610,897▲ 1,193%
Working capital€212,357▼ 23.1%€198,547▼ 6.5%€245,832▲ 23.8%€290,163▲ 18.0%€169,728▼ 41.5%
Staff (FTE)20.13.5▼ 82.6%3.5=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 263% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€696,739 ▲ 1,652%
Current assets
€304,033 ▼ 7.9%
Equity and liabilities €1.0m
Equity
€389,874 ▲ 20.9%
Debt
€610,897 ▲ 1,193%
Debt's share of the balance-sheet total rises from 12.8% to 61.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€130,877▲
2024 · €47,882
Cash flow
€110,665▲
2024 · €57,757
Current ratio
2.26▼
2024 · 8.29
Quick ratio
2.22▼
2024 · 8.04
Debt to equity
1.57▲
2024 · 0.15
ROE
22.3%▲
2024 · 12.2%
ROA
8.7%▼
2024 · 10.7%
Interest coverage
7.31▼
2024 · 48.14
Debt ≤ 1 year
€134,305▲
2024 · €39,786
Debt > 1 year
€476,592▲
2024 · €7,466
Income taxes
€2,357▲
2024 · €1,000
Staff costs
€174,912▲
2024 · €154,507
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €68,719 | €159,089 | €147,790 | €154,507 | €174,912 | ▲ 13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,097 | €23,374 | €20,291 | €18,380 | €23,849 | ▲ 29.8% |
| Other operating charges640/8 | €3,075 | €2,070 | €4,489 | €9,648 | €5,565 | ▼ 42.3% |
| Gross operating margin9900 | -€20,460 | €157,774 | €227,776 | €212,037 | €311,353 | ▲ 46.8% |
| Operating profit (loss)9901 | -€115,351 | -€26,759 | €55,206 | €29,502 | €107,027 | ▲ 263% |
| Financial income75/76B | €7,800 | €18,324 | €44 | €11,870 | €41 | ▼ 99.7% |
| Recurring financial income75 | €7,800 | €18,324 | €44 | €11,870 | €41 | ▼ 99.7% |
| Financial charges65/66B | €2,147 | €2,672 | €3,308 | €995 | €17,896 | ▲ 1,699% |
| Recurring financial charges65 | €2,147 | €2,672 | €3,308 | €995 | €17,896 | ▲ 1,699% |
| Profit (loss) for the period before taxes9903 | -€109,698 | -€11,107 | €51,942 | €40,377 | €89,173 | ▲ 121% |
| Income taxes67/77 | €1 | - | - | €1,000 | €2,357 | ▲ 136% |
| Profit (loss) for the period9904 | -€109,699 | -€11,107 | €51,942 | €39,377 | €86,816 | ▲ 120% |
| Profit (loss) for the period to be appropriated9905 | -€109,699 | -€11,107 | €51,942 | €39,377 | €86,816 | ▲ 120% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €378,741 | €372,167 | €325,707 | €369,720 | €1.0m | ▲ 171% |
| Fixed assets21/28 | €70,207 | €54,238 | €46,528 | €39,771 | €696,739 | ▲ 1,652% |
| Intangible fixed assets21 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €70,207 | €54,238 | €46,528 | €39,771 | €696,739 | ▲ 1,652% |
| Land and buildings22 | - | - | - | - | €663,526 | - |
| Plant, machinery and equipment23 | €14,539 | €13,454 | €18,803 | €25,104 | €23,553 | ▼ 6.2% |
| Other tangible fixed assets26 | €55,668 | €40,784 | €27,725 | €14,667 | €9,660 | ▼ 34.1% |
| Current assets29/58 | €308,534 | €317,930 | €279,179 | €329,949 | €304,033 | ▼ 7.9% |
| Stocks and contracts in progress3 | €9,000 | €9,000 | €9,000 | €9,930 | €6,430 | ▼ 35.2% |
| Stocks30/36 | €9,000 | €9,000 | €9,000 | €9,930 | €6,430 | ▼ 35.2% |
| Amounts receivable within one year40/41 | €288,674 | €296,992 | €251,391 | €273,408 | €187,641 | ▼ 31.4% |
| Trade receivables40 | €600 | - | - | €52,213 | €5,588 | ▼ 89.3% |
| Other amounts receivable41 | €288,074 | €296,992 | €251,391 | €221,195 | €182,052 | ▼ 17.7% |
| Current investments50/53 | - | - | €1,808 | €1,832 | €77,385 | ▲ 4,124% |
| Cash at bank and in hand54/58 | €10,570 | €11,938 | €16,980 | €44,778 | €32,577 | ▼ 27.2% |
| Deferred charges and accrued income490/1 | €290 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €378,741 | €372,167 | €325,707 | €369,720 | €1.0m | ▲ 171% |
| Equity10/15 | €242,255 | €231,149 | €283,091 | €322,468 | €389,874 | ▲ 20.9% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Outside capital11 | - | - | €18,592 | €18,592 | €18,592 | = |
| Share premium1100/10 | - | - | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €21,269 | €21,269 | €21,269 | €21,269 | €1,859 | ▼ 91.3% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Legal reserve130 | - | - | - | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | €19,410 | €19,410 | €19,410 | €19,410 | - | - |
| Profit (loss) carried forward14 | €202,394 | €191,288 | €243,230 | €282,607 | €369,423 | ▲ 30.7% |
| Amounts payable17/49 | €136,485 | €141,018 | €42,616 | €47,252 | €610,897 | ▲ 1,193% |
| Amounts payable after more than one year17 | €40,309 | €21,636 | €9,268 | €7,466 | €476,592 | ▲ 6,284% |
| Financial debts170/4 | €40,309 | €21,636 | €5,403 | €3,600 | €472,726 | ▲ 13,031% |
| Advances received on contracts in progress176 | - | - | €3,866 | €3,866 | €3,866 | = |
| Amounts payable within one year42/48 | €96,177 | €119,383 | €33,347 | €39,786 | €134,305 | ▲ 238% |
| Current portion of amounts payable after more than one year42 | €4,163 | €4,223 | €4,283 | €1,803 | €16,598 | ▲ 821% |
| Trade debts44 | €31,641 | €32,287 | €12,883 | €27,309 | €91,607 | ▲ 235% |
| Suppliers440/4 | €31,641 | €32,287 | €12,883 | €27,309 | €91,607 | ▲ 235% |
| Advances received on contracts in progress46 | €45,015 | €65,590 | - | - | - | - |
| Taxes, remuneration and social security45 | €15,358 | €17,283 | €16,182 | €10,674 | €26,100 | ▲ 145% |
| Taxes450/3 | €2,790 | - | €3,949 | €323 | €7,536 | ▲ 2,230% |
| Remuneration and social security454/9 | €12,568 | €17,283 | €12,233 | €10,351 | €18,564 | ▲ 79.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€109,699 | -€11,107 | €51,942 | €39,377 | €86,816 | ▲ 120% |
| + Depreciation and write-downs630 | €23,097 | €23,374 | €20,291 | €18,380 | €23,849 | ▲ 29.8% |
| Operating cash flow (approximation) | -€86,602 | €12,268 | €72,234 | €57,757 | €110,665 | ▲ 91.6% |
| Investment in fixed assets (approximation) | - | -€7,405 | -€12,581 | -€11,623 | -€680,817 | ▼ 5,757% |
| Change in cash | - | €1,368 | €5,043 | €27,798 | -€12,201 | ▼ 144% |
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
23-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2018net €86,816 ▲120%
Operating result €107,027, net result €86,816, both a record.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €51,942
Net result €51,942 after 3 loss-making years.
30-09
Financial
Liquidity triplescurrent ratio 8.37
Current ratio from 2.66 to 8.37; short-term debt falls from €119,383 to €33,347.
30-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet -€109,699
Net result drops to -€109,699, the lowest in the series; recovery starts the following year.
26-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
25-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 8 days late
2017
31-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
31-12
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Antwerpen · 1 establishment unit since 2002
Ground area
455 m²
Building footprint
441 m²
Volume, LiDAR
3,049 m³
Parcel 11007B0110/00V000, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
MASK-ARA
since 20022.095.671.439
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11007B0110/00V000 | Flanders | 455 m² | 1 · 441 m² | 9.4 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteAntwerpen2.095.671.439
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Of 14,006 companies in sector 56301 we hold annual accounts for 4,889. 2,308 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
Founded08-06-2001
Fiscal year end30-09
Activities, NACEBEL 2025
56111Full-service restaurants
56301Cafés and bars
Scores and ratios are computed by Checked and are not a credit decision.