GESAN
InactiveGESAN was declared bankrupt on 16-02-2023 (Ondernemingsrechtbank Gent, afdeling Kortrijk); the bankruptcy was closed for insufficient assets by judgment of 10-03-2026, published in the Belgian State Gazette on 16-03-2026.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 30-09-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 8 filingsPosition against the passed deadline
30-09-2022 close30-04-2023 deadline28-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2021 was due by 30-04-2022 and was filed on 23-03-2022, 38 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
not filed
2022
not filed
2021
38 d early
2020
23 d early
2019
8 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 23 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2021, micro schema
Equity
-€1,163
2020 · €21,063
Total assets
€22,116▼ 42.4%
2020 · €38,410
Net result
-€22,226
2020 · €15,654
Working capital
€1,023▼ 87.0%
2020 · €7,890
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
Line2018201920202021
Operating result€10,958-€3,222▼ 70.6%€16,989▲ 427%-€21,931
Net result€8,822-€1,533▼ 82.6%€15,654▲ 921%-€22,226
Equity€4,676-€6,209▲ 32.8%€21,063▲ 239%-€1,163
Total assets€35,650-€28,606▼ 19.8%€38,410▲ 34.3%€22,116▼ 42.4%
Debt€30,973-€22,397▼ 27.7%€17,346▼ 22.5%€23,279▲ 34.2%
Working capital-€13,888--€7,303▲ 47.4%€7,890€1,023▼ 87.0%
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 2021: a loss of €21,931 after €16,989 in 2020, the lowest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €22,116
Fixed assets
€10,597 ▼ 21.7%
Current assets
€11,519 ▼ 53.7%
Key figures and ratios
EBITDA
-€18,502▼
2020 · €20,463
Cash flow
-€18,798▼
2020 · €19,128
Solvency
-5.3%▼
2020 · 54.8%
Current ratio
1.10▼
2020 · 1.46
Quick ratio
0.98▼
2020 · 1.32
Debt to equity
-10.59
ROA
-100.5%▼
2020 · 40.8%
Debt ≤ 1 year
€10,496▼
2020 · €16,979
Debt > 1 year
€12,324
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,131 | €4,095 | €3,474 | €3,428 | ▼ 1.3% |
| Gross operating margin9900 | €18,406 | €8,622 | €25,763 | -€17,921 | ▼ 170% |
| Operating profit (loss)9901 | €10,958 | €3,222 | €16,989 | -€21,931 | ▼ 229% |
| Recurring financial income75 | €1,159 | €624 | €516 | €169 | ▼ 67.2% |
| Recurring financial charges65 | €888 | €881 | €675 | €465 | ▼ 31.1% |
| Profit (loss) for the period before taxes9903 | €11,229 | €2,965 | €16,830 | -€22,226 | ▼ 232% |
| Income taxes67/77 | €2,407 | €1,432 | €1,176 | - | - |
| Profit (loss) for the period9904 | €8,822 | €1,533 | €15,654 | -€22,226 | ▼ 242% |
| Profit (loss) for the period to be appropriated9905 | €8,822 | €1,533 | €15,654 | -€22,226 | ▼ 242% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €35,650 | €28,606 | €38,410 | €22,116 | ▼ 42.4% |
| Fixed assets21/28 | €19,954 | €15,859 | €13,540 | €10,597 | ▼ 21.7% |
| Intangible fixed assets21 | €18,600 | €15,500 | €12,400 | €9,300 | ▼ 25.0% |
| Tangible fixed assets22/27 | €1,354 | €359 | €1,140 | €1,297 | ▲ 13.8% |
| Current assets29/58 | €15,695 | €12,747 | €24,870 | €11,519 | ▼ 53.7% |
| Stocks and contracts in progress3 | €1,954 | €2,618 | €2,447 | €1,223 | ▼ 50.0% |
| Amounts receivable within one year40/41 | €913 | €1,273 | €1,176 | €9,275 | ▲ 689% |
| Cash at bank and in hand54/58 | €2,578 | €832 | €12,085 | €423 | ▼ 96.5% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €35,650 | €28,606 | €38,410 | €22,116 | ▼ 42.4% |
| Equity10/15 | €4,676 | €6,209 | €21,063 | -€1,163 | ▼ 106% |
| Contributions10/11 | €1,000 | €1,000 | - | - | - |
| Reserves13 | €11,458 | €11,458 | €20,063 | €11,458 | ▼ 42.9% |
| Profit (loss) carried forward14 | -€7,782 | -€6,249 | -€7,782 | -€13,621 | ▼ 75.0% |
| Amounts payable17/49 | €30,973 | €22,397 | €17,346 | €23,279 | ▲ 34.2% |
| Amounts payable after more than one year17 | - | - | - | €12,324 | - |
| Amounts payable within one year42/48 | €29,583 | €20,050 | €16,979 | €10,496 | ▼ 38.2% |
| Trade debts44 | €26,926 | €18,401 | €15,674 | €9,836 | ▼ 37.2% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,822 | €1,533 | €15,654 | -€22,226 | ▼ 242% |
| + Depreciation and write-downs630 | €4,131 | €4,095 | €3,474 | €3,428 | ▼ 1.3% |
| Operating cash flow (approximation) | €12,953 | €5,628 | €19,128 | -€18,798 | ▼ 198% |
| Investment in fixed assets (approximation) | - | €0 | -€1,155 | -€485 | ▲ 58.0% |
| Change in cash | - | -€1,745 | €11,252 | -€11,662 | ▼ 204% |
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
16-03
Bankruptcy
Bankruptcy closure (insufficient assets)
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 10-03-2026
2023
22-02
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Kortrijk · event 16-02-2023
2022
23-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet -€22,226
Net result drops to -€22,226, the lowest in the series.
07-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Highest result since 2018net €15,654 ▲921%
Operating result €16,989, net result €15,654, both a record.
30-09
Financial
Liquidity doublescurrent ratio 1.46
Current ratio from 0.64 to 1.46; short-term debt falls from €20,050 to €16,979.
22-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
26-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
19-04
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
26-01
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | FRANK HEFFINCK MEENSESTEENWEG 347,
8501 BISSEGEM |
16-02-2023 → 10-03-2026 |