GES-L
ActiveSummary
GES-L has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€186,151) and a net result of €19,739. Equity is shrinking by ~8% per year across the filed fiscal years. Its solvency ranks better than 5% of 7814 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.14 against 0.02 in 2024; short-term debt: 700.2% and cash: 74.8% of total assets), and equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-600.2%
Return on assets
63.6%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 7814 sector peers (2025).
NBB · sector comparisonPosition among 7814 sector peers
Solvency
better than 5%
← weakest
strongest →
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
30 d early
2023
30 d late
2022
31 d late
2021
31 d late
2020
181 d late
2019
119 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 56 days after 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 (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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€19,739
2024 · -€8,913
Working capital
-€187,597▲ 12.6%
2024 · -€214,632
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, 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
Line20212022202320242025
Operating result-€16,689▲ 19.7%-€9,915▲ 40.6%-€16,321▼ 64.6%-€8,748▲ 46.4%€19,914
Net result-€16,866below the sector's middle half▲ 20.4%-€10,016below the sector's middle half▲ 40.6%-€16,456below the sector's middle half▼ 64.3%-€8,913below the sector's middle half▲ 45.8%€19,739within the sector's middle half
Equity-€170,232below the sector's middle half▼ 11.0%-€180,248below the sector's middle half▼ 5.9%-€196,976below the sector's middle half▼ 9.3%-€205,889below the sector's middle half▼ 4.5%-€186,151below the sector's middle half▲ 9.6%
Total assets€39,516below the sector's middle half▼ 21.6%€32,965below the sector's middle half▼ 16.6%€22,163below the sector's middle half▼ 32.8%€12,213below the sector's middle half▼ 44.9%€31,012below the sector's middle half▲ 154%
Debt€209,748▲ 2.9%€213,213▲ 1.7%€219,139▲ 2.8%€218,103▼ 0.5%€217,163▼ 0.4%
Working capital-€206,120▼ 3.2%-€206,246▼ 0.1%-€213,016▼ 3.3%-€214,632▼ 0.8%-€187,597▲ 12.6%
Solvency-430.8%below the sector's middle half▼ 126.4pp-546.8%below the sector's middle half▼ 116.0pp-888.8%below the sector's middle half▼ 342.0pp-600.2%below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €19,914 after a loss of €8,748 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €31,012
Fixed assets
€1,446 ▼ 83.5%
Current assets
€29,566 ▲ 752%
Key figures and ratios
EBITDA
€27,210▲
2024 · -€1,451
Cash flow
€27,035▲
2024 · -€1,617
Current ratio
0.14▲
2024 · 0.02
Debt to equity
-1.17▼
2024 · -1.06
ROA
63.6%▲
2024 · -73.0%
Interest coverage
154.15▲
2024 · -8.79
Debt ≤ 1 year
€217,163▼
2024 · €218,103
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,799 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 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% | 1.6% |
| 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 74% 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 3,799 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,659 | €9,807 | €9,979 | €7,297 | €7,297 | = |
| Other operating charges640/8 | €1,586 | €1,932 | €1,653 | €1,757 | €1,761 | ▲ 0.2% |
| Gross operating margin9900 | -€4,444 | €1,824 | -€4,689 | €305 | €28,971 | ▲ 9,389% |
| Operating profit (loss)9901 | -€16,689 | -€9,915 | -€16,321 | -€8,748 | €19,914 | ▲ 328% |
| Financial income75/76B | €4 | €9 | - | - | €1 | - |
| Recurring financial income75 | €4 | €9 | - | - | €1 | - |
| Financial charges65/66B | €181 | €110 | €135 | €165 | €177 | ▲ 6.9% |
| Recurring financial charges65 | €181 | €110 | €135 | €165 | €177 | ▲ 6.9% |
| Profit (loss) for the period before taxes9903 | -€16,866 | -€10,016 | -€16,456 | -€8,913 | €19,739 | ▲ 321% |
| Profit (loss) for the period9904 | -€16,866 | -€10,016 | -€16,456 | -€8,913 | €19,739 | ▲ 321% |
| Profit (loss) for the period to be appropriated9905 | -€16,866 | -€10,016 | -€16,456 | -€8,913 | €19,739 | ▲ 321% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €39,516 | €32,965 | €22,163 | €12,213 | €31,012 | ▲ 154% |
| Fixed assets21/28 | €35,997 | €26,190 | €16,040 | €8,743 | €1,446 | ▼ 83.5% |
| Tangible fixed assets22/27 | €35,997 | €26,190 | €16,040 | €8,743 | €1,446 | ▼ 83.5% |
| Furniture and vehicles24 | €344 | €344 | - | - | - | - |
| Other tangible fixed assets26 | €35,652 | €25,846 | €16,040 | €8,743 | €1,446 | ▼ 83.5% |
| Current assets29/58 | €3,519 | €6,774 | €6,124 | €3,471 | €29,566 | ▲ 752% |
| Amounts receivable within one year40/41 | €3,463 | €2,076 | €4,373 | €2,220 | €5,489 | ▲ 147% |
| Trade receivables40 | €1,325 | €434 | €2,052 | €1,168 | €4,048 | ▲ 247% |
| Other amounts receivable41 | €2,138 | €1,642 | €2,322 | €1,052 | €1,440 | ▲ 36.9% |
| Cash at bank and in hand54/58 | - | €3,879 | €913 | €388 | €23,183 | ▲ 5,871% |
| Deferred charges and accrued income490/1 | €57 | €820 | €837 | €863 | €895 | ▲ 3.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €39,516 | €32,965 | €22,163 | €12,213 | €31,012 | ▲ 154% |
| Equity10/15 | -€170,232 | -€180,248 | -€196,976 | -€205,889 | -€186,151 | ▲ 9.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €9,860 | €9,860 | €9,860 | €9,860 | €9,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €8,000 | €8,000 | €8,000 | €8,000 | €8,000 | = |
| Profit (loss) carried forward14 | -€198,692 | -€208,708 | -€225,436 | -€234,349 | -€214,611 | ▲ 8.4% |
| Amounts payable17/49 | €209,748 | €213,213 | €219,139 | €218,103 | €217,163 | ▼ 0.4% |
| Amounts payable within one year42/48 | €209,640 | €213,021 | €219,139 | €218,103 | €217,163 | ▼ 0.4% |
| Trade debts44 | €3,283 | €1,014 | €2,464 | €1,489 | €1,480 | ▼ 0.6% |
| Suppliers440/4 | €3,283 | €1,014 | €2,464 | €1,489 | €1,480 | ▼ 0.6% |
| Taxes, remuneration and social security45 | - | - | - | €476 | €6,463 | ▲ 1,258% |
| Taxes450/3 | - | - | - | €476 | €6,463 | ▲ 1,258% |
| Other amounts payable47/48 | €206,356 | €212,007 | €216,675 | €216,138 | €209,220 | ▼ 3.2% |
| Accrued charges and deferred income492/3 | €109 | €192 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€16,866 | -€10,016 | -€16,456 | -€8,913 | €19,739 | ▲ 321% |
| + Depreciation and write-downs630 | €10,659 | €9,807 | €9,979 | €7,297 | €7,297 | = |
| Operating cash flow (approximation) | -€6,207 | -€209 | -€6,477 | -€1,617 | €27,035 | ▲ 1,772% |
| Investment in fixed assets (approximation) | - | €0 | €172 | €0 | €0 | - |
| Change in cash | - | - | -€2,966 | -€525 | €22,794 | ▲ 4,444% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €19,739
Net result €19,739 after 7 loss-making years.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 181 days late
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 119 days late
2019
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 2 days late
2018
20-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 142 days late
26-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 483 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Visé · 1 establishment unit since 2004
Ground area
210 m²
Building footprint
111 m²
Volume, LiDAR
1,075 m³
Parcel 62108A0085/00T000, Wallonia · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
GES-L
since 20042.144.059.789
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62108A0085/00T000 | Wallonia | 210 m² | 1 · 111 m² | 11.1 m · 3 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.
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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 24,517 companies in sector 82990 we hold annual accounts for 9,421. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-11-2004
Fiscal year end31-12
Activities, NACEBEL 2025
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0869939748
Registered
12-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.