GES@
Open bankruptcyA bankruptcy procedure is open for GES@ according to publications in the Belgian State Gazette; curator: XAVIER IBARRONDO LASA.
Summary
The file additionally contains 1 administrative flag. The 2023 annual accounts show equity of €97,088 and a net result of €23,944.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Walloon Brabant
- Declared bankrupt
- 27 November 2025
- Supervising judge
- Jean Pierre Riquet
- Official Gazette
- 03-12-2025 (pdf) ↗search the document for 2025/149973
Deadlines
- Appeal or third-party opposition until
- passed on 18 December 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 27 December 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 8 January 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 27 November 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Xavier Ibarrondo LasaOff.Park Green Alley, Rue Du Panier Vert 70, 1400 Nivellesxavier.ibarrondo@novalis.law
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 31-08-2024, 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
not confirmed
2024
not filed
2023
31 d late
2022
74 d late
2021
31 d early
2020
39 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 1 day after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Are there other customers at risk in your own list?List enrichment
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2023, micro schema
Equity
€97,088▲ 32.7%
2022 · €73,144
Total assets
€198,251▼ 5.6%
2022 · €210,004
Net result
€23,944▼ 36.5%
2022 · €37,699
Working capital
€57,635▲ 91.1%
2022 · €30,154
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
Line20192020202120222023
Operating result€27,666▲ 330%€92,194▲ 233%€91,764▼ 0.5%€53,394▼ 41.8%€29,687▼ 44.4%
Net result€21,231€77,914▲ 267%€80,856▲ 3.8%€37,699▼ 53.4%€23,944▼ 36.5%
Equity€6,675€44,589▲ 568%€80,445▲ 80.4%€73,144▼ 9.1%€97,088▲ 32.7%
Total assets€211,214▲ 42.3%€223,176▲ 5.7%€287,973▲ 29.0%€210,004▼ 27.1%€198,251▼ 5.6%
Debt€204,539▲ 27.8%€178,587▼ 12.7%€207,529▲ 16.2%€136,860▼ 34.1%€101,164▼ 26.1%
Working capital-€8,026▲ 65.2%€38,378-€13,638€30,154€57,635▲ 91.1%
Staff (FTE)9.611.7▲ 21.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2023 is 44% below 2022.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €198,251
Fixed assets
€39,453 ▼ 8.2%
Current assets
€158,798 ▼ 4.9%
Equity and liabilities €198,251
Equity
€97,088 ▲ 32.7%
Debt
€101,164 ▼ 26.1%
Debt's share of the balance-sheet total falls from 65.2% to 51.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€31,259▼
2022 · €63,188
Cash flow
€25,516▼
2022 · €47,494
Current ratio
1.57▲
2022 · 1.22
Debt to equity
1.04▼
2022 · 1.87
ROE
24.7%▼
2022 · 51.5%
ROA
12.1%▼
2022 · 18.0%
Interest coverage
17.92▼
2022 · 28.46
Debt ≤ 1 year
€101,164▼
2022 · €136,860
Income taxes
€4,464▼
2022 · €13,691
Staff costs
€295,626▲
2022 · €245,449
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €143,641 | €245,449 | €295,626 | ▲ 20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,631 | €4,525 | €21,741 | €9,794 | €1,572 | ▼ 84.0% |
| Other operating charges640/8 | - | - | €3,308 | - | €734 | - |
| Non-recurring operating charges66A | - | - | - | €52,504 | €1,878 | ▼ 96.4% |
| Gross operating margin9900 | €155,703 | €200,959 | €260,455 | €361,140 | €329,497 | ▼ 8.8% |
| Operating profit (loss)9901 | €27,666 | €92,194 | €91,764 | €53,394 | €29,687 | ▼ 44.4% |
| Financial income75/76B | - | - | €1 | €218 | €466 | ▲ 114% |
| Recurring financial income75 | €6,348 | €319 | €1 | €218 | €466 | ▲ 114% |
| Financial charges65/66B | - | - | €1,177 | €2,220 | €1,744 | ▼ 21.4% |
| Recurring financial charges65 | €4,461 | €4,760 | €1,177 | €2,220 | €1,744 | ▼ 21.4% |
| Profit (loss) for the period before taxes9903 | €29,553 | €87,753 | €90,588 | €51,391 | €28,408 | ▼ 44.7% |
| Income taxes67/77 | €8,323 | €9,839 | €9,733 | €13,691 | €4,464 | ▼ 67.4% |
| Profit (loss) for the period9904 | €21,231 | €77,914 | €80,856 | €37,699 | €23,944 | ▼ 36.5% |
| Profit (loss) for the period to be appropriated9905 | €21,231 | €77,914 | €80,856 | €37,699 | €23,944 | ▼ 36.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €211,214 | €223,176 | €287,973 | €210,004 | €198,251 | ▼ 5.6% |
| Fixed assets21/28 | €14,701 | €6,211 | €94,083 | €42,990 | €39,453 | ▼ 8.2% |
| Tangible fixed assets22/27 | €12,062 | €6,116 | €91,444 | €8,116 | €4,567 | ▼ 43.7% |
| Plant, machinery and equipment23 | - | - | €3,666 | €6,139 | €4,567 | ▼ 25.6% |
| Furniture and vehicles24 | - | - | €87,779 | €1,978 | - | - |
| Financial fixed assets28 | €2,639 | €95 | €2,639 | €34,873 | €34,886 | = |
| Current assets29/58 | €196,513 | €216,965 | €193,891 | €167,015 | €158,798 | ▼ 4.9% |
| Amounts receivable within one year40/41 | €155,634 | €180,737 | €109,783 | €163,594 | €135,131 | ▼ 17.4% |
| Trade receivables40 | - | - | €109,783 | €162,541 | €124,719 | ▼ 23.3% |
| Other amounts receivable41 | - | - | - | €1,053 | €10,412 | ▲ 889% |
| Cash at bank and in hand54/58 | €40,879 | €36,028 | €83,848 | €3,421 | €23,668 | ▲ 592% |
| Deferred charges and accrued income490/1 | - | - | €260 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €211,214 | €223,176 | €287,973 | €210,004 | €198,251 | ▼ 5.6% |
| Equity10/15 | €6,675 | €44,589 | €80,445 | €73,144 | €97,088 | ▲ 32.7% |
| Contributions10/11 | €62,000 | - | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €500 | €500 | €6,200 | €6,200 | €6,200 | = |
| Non-distributable reserves130/1 | - | - | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€55,825 | -€17,911 | €12,245 | €4,944 | €28,888 | ▲ 484% |
| Amounts payable17/49 | €204,539 | €178,587 | €207,529 | €136,860 | €101,164 | ▼ 26.1% |
| Amounts payable within one year42/48 | €204,539 | €178,587 | €207,529 | €136,860 | €101,164 | ▼ 26.1% |
| Financial debts43 | - | - | - | €197 | - | - |
| Credit institutions430/8 | - | - | - | €197 | - | - |
| Trade debts44 | €147,912 | €105,600 | €105,105 | €35,869 | €56,270 | ▲ 56.9% |
| Suppliers440/4 | - | - | €105,105 | €35,869 | €56,270 | ▲ 56.9% |
| Taxes, remuneration and social security45 | - | - | €53,861 | €55,794 | €44,894 | ▼ 19.5% |
| Taxes450/3 | - | - | €35,781 | €28,822 | €9,691 | ▼ 66.4% |
| Remuneration and social security454/9 | - | - | €18,080 | €26,972 | €35,202 | ▲ 30.5% |
| Other amounts payable47/48 | - | - | €48,562 | €45,000 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,231 | €77,914 | €80,856 | €37,699 | €23,944 | ▼ 36.5% |
| + Depreciation and write-downs630 | €6,631 | €4,525 | €21,741 | €9,794 | €1,572 | ▼ 84.0% |
| Operating cash flow (approximation) | €27,862 | €82,439 | €102,597 | €47,494 | €25,516 | ▼ 46.3% |
| Investment in fixed assets (approximation) | - | €3,965 | -€109,613 | €41,299 | €1,965 | ▼ 95.2% |
| Change in cash | - | -€4,851 | €47,820 | -€80,427 | €20,247 | ▲ 125% |
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
2026
06-07
KBO administration
Address struck
Drève Richelle 161 L’adresse du siège Drève Richelle 161 1410 Die Sitzadresse Drève Richelle 161 1410
1410 Waterloo werd doorgehaald met ingang Waterloo · event 21-06-2026
2025
03-12
Bankruptcy
Opening
Tribunal de l’entreprise du Brabant wallon · event 27-11-2025
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
13-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 74 days late
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €80,856 ▲3.8%
Net result €80,856, the highest in the series.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €21,231
Net result €21,231 after one loss-making year.
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
13-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
29-06
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Waterloo · 1 establishment unit since 2001
Ground area
1.0 ha
Building footprint
1,772 m²
Volume, LiDAR
33,713 m³
Parcel 25763M0621/00F000, Wallonia · tallest building 22.9 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
GES@
since 20012.192.857.620
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25763M0621/00F000indicative | Wallonia | 1.0 ha | 1 · 1,772 m² | 22.9 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | XAVIER IBARRONDO LASA OFF.PARK GREEN ALLEY,
RUE DU PANIER VERT 70, 1400 NIVELLES- |
27-11-2025 → present |
Identification & contact
Identification
Legal formPublic limited company
Founded26-03-2001
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0474362068
Also
9925:BE0474362068
Registered
22-12-2025
The company is no longer active; its Peppol card can remain until its access point withdraws it.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.