Summary
GERNIM is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €10.4m and a net result of €2.5m. Equity is growing by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 63% of 2451 sector peers (fiscal year 2025). The company has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
5 d late
2024
29 d early
2023
42 d early
2022
7 d early
2021
31 d early
2020
51 d early
2019
125 d late
← 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 4 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
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. Usually files around 2 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#2 oldest company in the province of Namur, Financial services sector#5 company by equity in Rochefort
Equity
€10.4m▲ 30.2%
2024 · €8.0m
Net result
€2.5m▲ 485%
2024 · €420,419
Total assets
€13.9m▲ 21.2%
2024 · €11.5m
Solvency
74.8%▲ 5.2pp
2024 · 69.6%
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€767,632€488,981▼ 36.3%€122,790▼ 74.9%€344,000▲ 180%€539,413▲ 56.8%
Net result€304,110within the sector's middle half▼ 60.5%€1.1mabove the sector's middle half▲ 258%€240,299within the sector's middle half▼ 77.9%€420,419within the sector's middle half▲ 75.0%€2.5mabove the sector's middle half▲ 485%
Equity€6.3mwithin the sector's middle half▲ 5.1%€7.3mwithin the sector's middle half▲ 17.4%€7.6mwithin the sector's middle half▲ 3.3%€8.0mwithin the sector's middle half▲ 5.5%€10.4mwithin the sector's middle half▲ 30.2%
Total assets€9.9mwithin the sector's middle half▼ 6.8%€10.7mwithin the sector's middle half▲ 8.6%€11.1mwithin the sector's middle half▲ 3.9%€11.5mwithin the sector's middle half▲ 3.4%€13.9mwithin the sector's middle half▲ 21.2%
Debt€1.7m▼ 40.6%€1.6m▼ 5.5%€1.7m▲ 10.2%€1.7m▼ 4.9%€1.5m▼ 7.8%
Working capital€5.7mabove the sector's middle half▼ 5.3%€6.2mabove the sector's middle half▲ 7.7%€6.4mabove the sector's middle half▲ 3.9%€7.0mabove the sector's middle half▲ 8.7%€9.3mabove the sector's middle half▲ 33.3%
Solvency63.4%within the sector's middle half▲ 7.2pp68.6%within the sector's middle half▲ 5.2pp68.1%within the sector's middle half▼ 0.4pp69.6%within the sector's middle half▲ 1.4pp74.8%within the sector's middle half▲ 5.2pp
Current ratio12.66above the sector's middle half▼ 3.9617.69above the sector's middle half▲ 5.0312.44above the sector's middle half▼ 5.2519.13above the sector's middle half▲ 6.6923.69above the sector's middle half▲ 4.57
Return on assets (ROA)3.1%within the sector's middle half▼ 4.2pp10.2%above the sector's middle half▲ 7.1pp2.2%within the sector's middle half▼ 8.0pp3.7%within the sector's middle half▲ 1.5pp17.6%above the sector's middle half▲ 14.0pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 57% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.9m
Fixed assets
€4.2m ▲ 2.0%
Current assets
€9.7m ▲ 31.9%
Equity and liabilities €13.9m
Equity
€10.4m ▲ 30.2%
Provisions
€2.0m ▲ 8.0%
Debt
€1.5m ▼ 7.8%
Debt's share of the balance-sheet total falls from 14.3% to 10.9%. Equity is higher and debt is lower.
Key figures and ratios
ROE
23.6%▲
2024 · 5.3%
Debt ≤ 1 year
€410,695▲
2024 · €385,611
Debt > 1 year
€5,120▼
2024 · €12,520
Income taxes
€228,872▲
2024 · €131,670
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €247,618 | €218,287 | €373 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €121,291 | €221,302 | €8,531 | €8,531 | €9,217 | ▲ 8.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €53,809 | -€207,429 | €21,637 | €37,300 | €209,319 | ▲ 461% |
| Other operating charges640/8 | €30,680 | €28,388 | €28,450 | €30,236 | €31,726 | ▲ 4.9% |
| Gross operating margin9900 | €973,412 | €531,242 | €181,408 | €420,067 | €789,675 | ▲ 88.0% |
| Operating profit (loss)9901 | €767,632 | €488,981 | €122,790 | €344,000 | €539,413 | ▲ 56.8% |
| Financial income75/76B | €6,718 | €854,883 | €189,146 | €208,244 | €2.1m | ▲ 902% |
| Recurring financial income75 | €6,718 | €110,075 | €189,146 | €208,244 | €2.1m | ▲ 902% |
| Non-recurring financial income76B | - | €744,808 | - | - | - | - |
| Financial charges65/66B | €273,999 | €3,072 | €235 | €155 | -€75 | ▼ 148% |
| Recurring financial charges65 | €26,128 | €3,072 | €235 | €155 | -€75 | ▼ 148% |
| Non-recurring financial charges66B | €247,871 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €500,351 | €1.3m | €311,701 | €552,089 | €2.6m | ▲ 376% |
| Transfer from deferred taxes780 | - | - | - | - | €61,897 | - |
| Transfer to deferred taxes680 | €61,897 | €54,572 | - | - | - | - |
| Income taxes67/77 | €134,344 | €197,528 | €71,402 | €131,670 | €228,872 | ▲ 73.8% |
| Profit (loss) for the period9904 | €304,110 | €1.1m | €240,299 | €420,419 | €2.5m | ▲ 485% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €185,691 | - |
| Transfer to tax-exempt reserves689 | €185,691 | €163,715 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €118,419 | €924,977 | €240,299 | €420,419 | €2.6m | ▲ 529% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.9m | €10.7m | €11.1m | €11.5m | €13.9m | ▲ 21.2% |
| Fixed assets21/28 | €3.6m | €4.1m | €4.1m | €4.1m | €4.2m | ▲ 2.0% |
| Tangible fixed assets22/27 | €1.1m | €887,712 | €879,555 | €871,024 | €954,112 | ▲ 9.5% |
| Land and buildings22 | €1.1m | €887,712 | €879,555 | €871,024 | €879,756 | ▲ 1.0% |
| Assets under construction and advance payments27 | - | - | - | - | €74,356 | - |
| Financial fixed assets28 | €2.5m | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Current assets29/58 | €6.2m | €6.6m | €7.0m | €7.4m | €9.7m | ▲ 31.9% |
| Amounts receivable within one year40/41 | €245,714 | €97,466 | €338,606 | €139,151 | €330,057 | ▲ 137% |
| Trade receivables40 | €1,407 | €78,556 | €333,356 | €103,112 | €203,049 | ▲ 96.9% |
| Other amounts receivable41 | €244,307 | €18,910 | €5,250 | €36,039 | €127,008 | ▲ 252% |
| Current investments50/53 | €5.3m | €5.8m | €6.2m | €7.0m | €8.5m | ▲ 20.4% |
| Cash at bank and in hand54/58 | €679,574 | €692,517 | €470,116 | €202,230 | €933,885 | ▲ 362% |
| Deferred charges and accrued income490/1 | €315 | - | €2 | €3 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.9m | €10.7m | €11.1m | €11.5m | €13.9m | ▲ 21.2% |
| Equity10/15 | €6.3m | €7.3m | €7.6m | €8.0m | €10.4m | ▲ 30.2% |
| Contributions10/11 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Capital10 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Issued capital100 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Reserves13 | €5.8m | €6.9m | €7.1m | €7.5m | €10.0m | ▲ 33.5% |
| Non-distributable reserves130/1 | €145,050 | €145,050 | €145,050 | €145,050 | €145,050 | = |
| Legal reserve130 | €145,050 | €145,050 | €145,050 | €145,050 | €145,050 | = |
| Tax-exempt reserves132 | €185,691 | €349,406 | €349,406 | €349,406 | €163,715 | ▼ 53.1% |
| Distributable reserves133 | €5.5m | €6.4m | €6.7m | €7.0m | €9.7m | ▲ 38.6% |
| Profit (loss) carried forward14 | €20,126 | €20,103 | €35,402 | €105,821 | €11,093 | ▼ 89.5% |
| Provisions and deferred taxes16 | €1.9m | €1.8m | €1.8m | €1.8m | €2.0m | ▲ 8.0% |
| Provisions for liabilities and charges160/5 | €1.9m | €1.7m | €1.7m | €1.7m | €1.9m | ▲ 12.1% |
| Major repairs and maintenance162 | €300,000 | - | - | - | - | - |
| Other liabilities and charges164/5 | €1.6m | €1.7m | €1.7m | €1.7m | €1.9m | ▲ 12.1% |
| Deferred taxes168 | €61,897 | €116,469 | €116,469 | €116,469 | €54,572 | ▼ 53.1% |
| Amounts payable17/49 | €1.7m | €1.6m | €1.7m | €1.7m | €1.5m | ▼ 7.8% |
| Amounts payable after more than one year17 | €12,450 | €11,000 | €11,000 | €12,520 | €5,120 | ▼ 59.1% |
| Other amounts payable178/9 | €12,450 | €11,000 | €11,000 | €12,520 | €5,120 | ▼ 59.1% |
| Amounts payable within one year42/48 | €492,959 | €370,997 | €562,257 | €385,611 | €410,695 | ▲ 6.5% |
| Current portion of amounts payable after more than one year42 | €0 | - | - | - | - | - |
| Financial debts43 | - | €3,013 | €172 | - | - | - |
| Credit institutions430/8 | - | €3,013 | €172 | - | - | - |
| Trade debts44 | €11,124 | €479 | €132,363 | €717 | €1,852 | ▲ 158% |
| Suppliers440/4 | €11,124 | €479 | €132,363 | €717 | €1,852 | ▲ 158% |
| Taxes, remuneration and social security45 | €131,500 | €17,072 | €16,850 | €34,264 | €18,115 | ▼ 47.1% |
| Taxes450/3 | €131,500 | €17,072 | €16,850 | €34,264 | €18,115 | ▼ 47.1% |
| Other amounts payable47/48 | €350,335 | €350,433 | €412,872 | €350,630 | €390,728 | ▲ 11.4% |
| Accrued charges and deferred income492/3 | €1.2m | €1.2m | €1.2m | €1.3m | €1.1m | ▼ 11.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €304,110 | €1.1m | €240,299 | €420,419 | €2.5m | ▲ 485% |
| + Depreciation and write-downs630 | €121,291 | €221,302 | €8,531 | €8,531 | €9,217 | ▲ 8.0% |
| Operating cash flow (approximation) | €425,401 | €1.3m | €248,830 | €428,950 | €2.5m | ▲ 476% |
| Investment in fixed assets (approximation) | - | -€743,095 | -€374 | €0 | -€92,305 | - |
| Change in cash | - | €12,943 | -€222,401 | -€267,886 | €731,655 | ▲ 373% |
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
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 5 days late
2025
31-12
Financial
Highest result since 2018net €2.5m ▲485%
Net result €2.5m, the highest in the series.
31-12
Financial
Equity above €10mEq €10.4m ▲30.2%
8 profitable years in a row build equity to €10.4m.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €240,299 ▼77.9%
Net result drops to €240,299, the lowest in the series; recovery starts the following year.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Liquidity times 5current ratio 16.62
Current ratio from 3.05 to 16.62; short-term debt falls from €2.2m to €388,668.
03-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 125 days late
2019
31-12
Financial
Equity above €5mEq €5.2m ▲56.9%
2 profitable years in a row build equity to €5.2m.
Show earlier events
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 16 days late
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
No directors read yet: 0 of 7 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Rochefort
Ground area
847 m²
Building footprint
183 m²
Parcel 91114A1486/00N002, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91114A1486/00N002 | Wallonia | 846 m² | 1 · 183 m² | - |
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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
99.99%
According to the 2025 annual accounts of GERNIM and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
2549008T7AGLJYXSTZ27
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Of 24,721 companies in this sector we hold annual accounts for 19,804. 5,947 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded21-02-1989
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID
0208:0436809608
Registered
29-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.