GERU
ActiveThe file of GERU contains 2 historical bankruptcy publications, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 2.0% (moderate). The 2024 annual accounts show negative equity (-€237,701) and a net result of -€19,332. Equity remains stable across the filed fiscal years (±2.4% per year). Its solvency ranks better than 5% of 2439 sector peers (fiscal year 2024).
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-100
Solvency0=
Growth52▼-26
Track record85
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.04 against 0.18 in 2023; cash: 8.6% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Return on assets
-176.6%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% 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
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€237,701
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 02-07-2025, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
29 d early
2023
22 d early
2022
1 d late
2021
9 d late
2020
3 d late
2019
19 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 3 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€237,701▼ 8.9%
2023 · -€218,369
Total assets
€10,948▼ 77.4%
2023 · €48,370
Net result
-€19,332
2023 · €14,854
Working capital
-€236,063▼ 10.5%
2023 · -€213,631
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€25,779▼ 11.0%€8,238▼ 68.0%€33,290▲ 304%€16,877▼ 49.3%-€18,900
Net result€7,499within the sector's middle half▼ 71.2%€7,083within the sector's middle half▼ 5.5%-€5,230below the sector's middle half€14,854within the sector's middle half-€19,332below the sector's middle half
Equity-€235,076below the sector's middle half▲ 3.1%-€227,992below the sector's middle half▲ 3.0%-€233,222below the sector's middle half▼ 2.3%-€218,369below the sector's middle half▲ 6.4%-€237,701below the sector's middle half▼ 8.9%
Total assets€8,332below the sector's middle half▼ 28.1%€8,113below the sector's middle half▼ 2.6%€26,871below the sector's middle half▲ 231%€48,370below the sector's middle half▲ 80.0%€10,948below the sector's middle half▼ 77.4%
Debt€243,407▼ 4.2%€236,105▼ 3.0%€260,093▲ 10.2%€266,738▲ 2.6%€248,648▼ 6.8%
Working capital-€186,106below the sector's middle half▼ 45.0%-€211,469below the sector's middle half▼ 13.6%-€233,222below the sector's middle half▼ 10.3%-€213,631below the sector's middle half▲ 8.4%-€236,063below the sector's middle half▼ 10.5%
Solvency-867.9%below the sector's middle half-451.5%below the sector's middle half▲ 416.5pp
Current ratio0.04below the sector's middle half▼ 0.040.04below the sector's middle half▼ 0.010.10below the sector's middle half▲ 0.070.18below the sector's middle half▲ 0.080.04below the sector's middle half▼ 0.14
Return on assets (ROA)90.0%above the sector's middle half▼ 134.7pp87.3%above the sector's middle half▼ 2.7pp-19.5%below the sector's middle half▼ 106.8pp30.7%above the sector's middle half▲ 50.2pp-176.6%below the sector's middle half▼ 207.3pp
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €18,900 after €16,877 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10,948
Fixed assets
€873 ▼ 38.7%
Current assets
€10,075 ▼ 78.5%
Key figures and ratios
EBITDA
-€17,849▼
2023 · €17,107
Cash flow
-€18,281▼
2023 · €15,083
Debt to equity
-1.05▲
2023 · -1.22
Interest coverage
-41.29▼
2023 · 8.45
Debt ≤ 1 year
€246,138▼
2023 · €260,577
A ratio outside any meaningful range has been withheld (balance sheet total €10,948, equity -€237,701).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,940 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.0%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,940 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €230 | €1,051 | ▲ 358% |
| Other operating charges640/8 | - | €3,358 | €795 | €4,067 | €2,342 | ▼ 42.4% |
| Non-recurring operating charges66A | - | €345 | - | - | - | - |
| Gross operating margin9900 | €27,723 | €11,941 | €34,085 | €21,174 | -€15,508 | ▼ 173% |
| Operating profit (loss)9901 | €25,779 | €8,238 | €33,290 | €16,877 | -€18,900 | ▼ 212% |
| Financial income75/76B | - | €77 | - | €1 | €1 | ▼ 7.1% |
| Recurring financial income75 | €30 | €77 | - | €1 | €1 | ▼ 7.1% |
| Financial charges65/66B | - | €1,232 | €38,520 | €2,024 | €432 | ▼ 78.6% |
| Recurring financial charges65 | €18,310 | €1,232 | €38,520 | €2,024 | €432 | ▼ 78.6% |
| Profit (loss) for the period before taxes9903 | €7,499 | €7,083 | -€5,230 | €14,854 | -€19,332 | ▼ 230% |
| Profit (loss) for the period9904 | €7,499 | €7,083 | -€5,230 | €14,854 | -€19,332 | ▼ 230% |
| Profit (loss) for the period to be appropriated9905 | €7,499 | €7,083 | -€5,230 | €14,854 | -€19,332 | ▼ 230% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8,332 | €8,113 | €26,871 | €48,370 | €10,948 | ▼ 77.4% |
| Fixed assets21/28 | - | - | - | €1,423 | €873 | ▼ 38.7% |
| Tangible fixed assets22/27 | - | - | - | €1,423 | €873 | ▼ 38.7% |
| Furniture and vehicles24 | - | - | - | €1,423 | €873 | ▼ 38.7% |
| Current assets29/58 | €8,332 | €8,113 | €26,871 | €46,946 | €10,075 | ▼ 78.5% |
| Amounts receivable within one year40/41 | €5,654 | €7,303 | €24,691 | €34,914 | €6,412 | ▼ 81.6% |
| Trade receivables40 | - | €7,278 | €24,691 | €34,914 | €6,412 | ▼ 81.6% |
| Other amounts receivable41 | - | €25 | - | - | - | - |
| Cash at bank and in hand54/58 | €908 | €262 | €1,571 | €9,242 | €942 | ▼ 89.8% |
| Deferred charges and accrued income490/1 | - | €548 | €609 | €2,790 | €2,720 | ▼ 2.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8,332 | €8,113 | €26,871 | €48,370 | €10,948 | ▼ 77.4% |
| Equity10/15 | -€235,076 | -€227,992 | -€233,222 | -€218,369 | -€237,701 | ▼ 8.9% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €66,187 | €66,187 | €66,187 | €66,187 | €66,187 | = |
| Tax-exempt reserves132 | - | €66,187 | €66,187 | €66,187 | €66,187 | = |
| Profit (loss) carried forward14 | -€321,262 | -€314,179 | -€319,409 | -€304,555 | -€323,887 | ▼ 6.3% |
| Amounts payable17/49 | €243,407 | €236,105 | €260,093 | €266,738 | €248,648 | ▼ 6.8% |
| Amounts payable after more than one year17 | €48,969 | €14,650 | - | - | - | - |
| Financial debts170/4 | - | €14,650 | - | - | - | - |
| Amounts payable within one year42/48 | €194,438 | €219,582 | €260,093 | €260,577 | €246,138 | ▼ 5.5% |
| Current portion of amounts payable after more than one year42 | - | €126,420 | - | - | - | - |
| Financial debts43 | - | €25,564 | - | - | - | - |
| Credit institutions430/8 | - | €25,564 | - | - | - | - |
| Trade debts44 | €11,469 | €4,741 | €2,543 | €2,387 | €2,566 | ▲ 7.5% |
| Suppliers440/4 | - | €4,741 | €2,543 | €2,387 | €2,566 | ▲ 7.5% |
| Taxes, remuneration and social security45 | - | €10,412 | €15,556 | €13,935 | €2,093 | ▼ 85.0% |
| Taxes450/3 | - | €9,738 | €15,556 | €13,935 | €2,093 | ▼ 85.0% |
| Remuneration and social security454/9 | - | €674 | - | - | - | - |
| Other amounts payable47/48 | - | €52,445 | €241,995 | €244,254 | €241,480 | ▼ 1.1% |
| Accrued charges and deferred income492/3 | - | €1,874 | - | €6,161 | €2,510 | ▼ 59.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,499 | €7,083 | -€5,230 | €14,854 | -€19,332 | ▼ 230% |
| + Depreciation and write-downs630 | - | - | - | €230 | €1,051 | ▲ 358% |
| Operating cash flow (approximation) | €7,499 | €7,083 | -€5,230 | €15,083 | -€18,281 | ▼ 221% |
| Investment in fixed assets (approximation) | - | - | - | - | -€500 | - |
| Change in cash | - | -€646 | €1,309 | €7,671 | -€8,299 | ▼ 208% |
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
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€19,332
Net result drops to -€19,332, the lowest in the series.
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €14,854
Net result €14,854 after one loss-making year.
01-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 1 day late
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
2021
03-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 3 days late
17-03
Bankruptcy
Bankruptcy reversal
Ondernemingsrechtbank Leuven
12-02
Bankruptcy
Opening
Ondernemingsrechtbank Leuven · event 04-02-2021
2020
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
31-12
Financial
Highest result since 2018net €26,020 ▲259%
Net result €26,020, the highest in the series.
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
Show earlier events
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 23 days late
2016
02-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 2 days late
SignalFinancial 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, Begijnendijk
Ground area
720 m²
Building footprint
91 m²
Volume, LiDAR
439 m³
Parcel 24010C0181/00G002, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24010C0181/00G002 | Flanders | 720 m² | 1 · 91 m² | 7.8 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.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | JAN DE RIECK FONTEINSTRAAT 1A, 3000 LEUVEN- |
04-02-2021 → 17-03-2021 |
| Curator | SAM RENIERS FONTEINSTRAAT 1A,
3000 LEUVEN |
04-02-2021 → 17-03-2021 |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 981 companies in sector 25401 we hold annual accounts for 407. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded22-02-2013
Fiscal year end31-12
Activities, NACEBEL 2025
25401Forging of metal
25620Manufacture of fabricated metal products, except machinery and equipment
25639Manufacture of fabricated metal products, except machinery and equipment
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0518897342
Also
9925:BE0518897342
Registered
01-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.