GESAF INDUSTRY
ActiveGESAF INDUSTRY has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €13.61M and a net result of €2.23M. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 62% of 4829 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
66
/ 100
Healthy▼ -26 vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability94▼-1
Solvency59▼-11
Growth81▼-4
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €190k at 30 days acceptable
Liquidity short (current ratio 0.61 against 1.15 in 2023), and 55.1% of the assets are financed with debt.
Credit advice for your own amount and term
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 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
44.9%
Return on assets
7.4%
Age of the figures
20 mo
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 27-06-2025, 34 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
16 d early
2022
12 d early
2021
1 d late
2020
3 d early
2019
16 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, full schema, statutory
Turnover
€1.94M▲ 5.9%
2023 · €1.83M
2019: €895k
2020: €896k
2021: €944k
2022: €2.20M
2023: €1.83M
2019 → 2024
EBIT margin
95.0%▲ 70.7pp
2023 · 24.3%
2019: 58.0%
2020: 59.1%
2021: 53.7%
2022: 45.7%
2023: 24.3%
2019 → 2024
Net result
€2.23M▼ 4.0%
2023 · €2.32M
2019: €376k
2020: €386k
2021: €398k
2022: €671k
2023: €2.32M
2019 → 2024
Working capital
€-544k
2023 · €205k
2019: €2.15M
2020: €2.76M
2021: €3.15M
2022: €381k
2023: €205k
2019 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€896k-€944k▲ 5.4%€2.20M▲ 133%€1.83M▼ 16.7%€1.94M▲ 5.9%
Equity€9.87M-€12.96M▲ 31.4%€13.50M▲ 4.1%€13.68M▲ 1.4%€13.61M▼ 0.5%
Operating result€529k-€507k▼ 4.2%€1.01M▲ 98.8%€446k▼ 55.8%€1.85M▲ 314%
Net result€386k-€398k▲ 3.0%€671k▲ 68.5%€2.32M▲ 247%€2.23M▼ 4.0%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 314% above 2023 and is the highest year so far.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €30.34M
Fixed assets
€29.49M▲ 1.2%
Current assets
€846k▼ 46.6%
Equity and liabilities €30.34M
Equity
€13.61M▼ 0.5%
Provisions
€285k
Debt
€16.44M▼ 3.5%
The debt ratio falls from 55.4% to 54.2%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€2.02M▲
2023 · €669k
Cash flow
€2.41M▼
2023 · €2.55M
Solvency
44.9%▲
2023 · 44.6%
Current ratio
0.61▼
2023 · 1.15
Quick ratio
0.61▼
2023 · 1.15
Debt / equity
1.21▼
2023 · 1.24
ROE
16.4%▼
2023 · 17.0%
ROA
7.4%▼
2023 · 7.6%
Interest coverage
4.45▲
2023 · 2.08
Debt
€16.44M▼
2023 · €17.03M
Debt ≤ 1 year
€1.39M▲
2023 · €1.38M
Debt > 1 year
€14.98M▼
2023 · €15.58M
Income taxes
€32k▲
2023 · €-33k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€30.72M€30.34M▼
Fixed assets21/28€29.13M€29.49M▲
Tangible fixed assets22/27€3.98M€4.34M▲
Land and buildings22€3.98M€3.74M▼
Plant, machinery and equipment23€7k€25k▲
Assets under construction and advance payments27-€575k
Financial fixed assets28€25.15M€25.15M=
Affiliated companies280/1€25.15M€25.15M=
Participating interests280€25.15M€25.15M=
Current assets29/58€1.58M€846k▼
Amounts receivable after more than one year29€250k€250k=
Other amounts receivable291€250k€250k=
Amounts receivable within one year40/41€358k€496k▲
Trade receivables40€51k€143k▲
Other amounts receivable41€307k€353k▲
Cash at bank and in hand54/58€975k€100k▼
Deferred charges and accrued income490/1€2k€799▼
Equity and liabilities
Total equity and liabilities10/49€30.72M€30.34M▼
Equity10/15€13.68M€13.61M▼
Contributions10/11€4.07M€4.07M=
Capital10€4.07M€4.07M=
Issued capital100€4.07M€4.07M=
Reserves13€5.04M€3.73M▼
Non-distributable reserves130/1€407k€407k=
Legal reserve130€407k€407k=
Tax-exempt reserves132-€855k
Distributable reserves133€4.63M€2.47M▼
Profit (loss) carried forward14€4.58M€5.81M▲
Provisions and deferred taxes16-€285k
Deferred taxes168-€285k
Amounts payable17/49€17.03M€16.44M▼
Amounts payable after more than one year17€15.58M€14.98M▼
Financial debts170/4€15.58M€14.98M▼
Subordinated loans170€864k€707k▼
Credit institutions173€4.27M€3.93M▼
Other loans174€10.44M€10.34M▼
Amounts payable within one year42/48€1.38M€1.39M▲
Current portion of amounts payable after more than one year42€1.03M€1.07M▲
Trade debts44€92k€144k▲
Suppliers440/4€92k€144k▲
Taxes, remuneration and social security45-€32k
Taxes450/3-€32k
Other amounts payable47/48€252k€142k▼
Accrued charges and deferred income492/3€76k€67k▼
Income statement
Code20232024
Operating income70/76A€1.99M€3.24M▲
Turnover70€1.83M€1.94M▲
Other operating income74€159k€156k▼
Non-recurring operating income76A-€1.14M
Operating charges60/66A€1.55M€1.39M▼
Services and other goods61€1.16M€1.04M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€223k€177k▼
Other operating charges640/8€169k€174k▲
Operating profit (loss)9901€446k€1.85M▲
Financial income75/76B€2.17M€1.16M▼
Recurring financial income75€2.17M€1.16M▼
Income from financial fixed assets750€2.17M€1.15M▼
Income from current assets751-€1k
Other financial income752/9€20€6k▲
Financial charges65/66B€324k€456k▲
Recurring financial charges65€324k€456k▲
Debt charges650€322k€455k▲
Other financial charges652/9€3k€1k▼
Profit (loss) for the period before taxes9903€2.29M€2.55M▲
Transfer to deferred taxes680-€285k
Income taxes67/77€-33k€32k▲
Taxes670/3€1k€32k▲
Tax adjustments and reversals of tax provisions77€34k-
Profit (loss) for the period9904€2.32M€2.23M▼
Transfer to tax-exempt reserves689-€855k
Profit (loss) for the period to be appropriated9905€2.32M€1.38M▼
Appropriation of the result
Profit (loss) to be appropriated9906€4.72M€5.95M▲
Profit (loss) brought forward from the previous period14P€2.39M€4.58M▲
Transfer from equity791/2-€2.16M
From reserves792-€2.16M
Profit to be distributed694/7€141k€2.30M▲
Return on contributions (dividend)694-€2.16M
Directors or managers695€141k€140k▼
The notes to these accounts (51 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
03-07
State Gazette act
Incorporation · Founder
Founding capital · Bank account
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · consolidated
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · consolidated
15-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
29-01
NBB filing
Annual accounts filed
fiscal year 2022 · consolidated
2023
31-12
Financial
Highest result since 2019net €2.32M ▲247%
Net result €2.32M, the highest in the series.
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
01-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 1 day late
2021
30-06
Financial
Equity above €10MEq €12.96M ▲31.4%
3 profitable years in a row build equity to €12.96M.
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
15-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
01-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 1 day late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Charleroi
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Tahon 16041 CharleroiGround area
687 m²
Building footprint
116 m²
Volume, LiDAR
643 m³
Parcel 52028C0038/00F000, Wallonia · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52028C0038/00F000 | Wallonia | 687 m² | 1 · 116 m² | 6.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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Of 11,974 companies in sector 68203 we hold annual accounts for 5,947. 1,551 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-05-2016
Fiscal year end31-12
Activities, NACEBEL
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 11 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.