GESIM
ActiveSummary
GESIM has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €2.3m and a net result of €56,418. Equity is growing by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 51% of 4814 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability43▼-35
Solvency57▼-19
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €140,000 at 30 days acceptable
Liquidity ample (current ratio 2.43 against 0.76 in 2023; short-term debt: 24.9% and cash: 1.2% of total assets), but 67.8% of the assets are financed with debt.
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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
Real estate activities (NACE 68)
about 43% fewer 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
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
32.2%
Return on assets
0.8%
Age of the figures
21 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 08-07-2025, 23 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
23 d early
2023
49 d early
2022
47 d early
2021
37 d early
2020
51 d early
2019
28 d early
← 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 39 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
€33,632▼ 91.1%
2022 · €378,524
EBIT margin
-35.4%▼ 20.7pp
2022 · -14.7%
Net result
€56,418▼ 95.7%
2023 · €1.3m
Working capital
€2.6m
2023 · -€482,127
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
Line20202021202220232024
Turnover€389,769▼ 9.2%€555,699▲ 42.6%€378,524▼ 31.9%€33,632▼ 91.1%
Operating result€87,260▲ 4.9%€50,105▼ 42.6%-€55,467-€11,893▲ 78.6%€129,249
Net result€43,544▼ 32.6%€25,059▼ 42.5%-€80,498€1.3m€56,418▼ 95.7%
EBIT margin22.4%▲ 3.0pp9.0%▼ 13.4pp-14.7%▼ 23.7pp-35.4%▼ 20.7pp
Equity€1.0m▲ 4.4%€1.1m▲ 2.4%€976,955▼ 7.6%€2.3m▲ 133%€2.3m▲ 2.5%
Total assets€3.7m▼ 4.1%€3.5m▼ 5.3%€4.4m▲ 26.6%€4.5m▲ 1.3%€7.3m▲ 62.4%
Debt€2.7m▼ 7.1%€2.4m▼ 8.4%€3.4m▲ 41.4%€2.2m▼ 36.2%€4.9m▲ 125%
Working capital€476,908▼ 23.2%-€26,095-€477,228▼ 1,729%-€482,127▼ 1.0%€2.6m
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €129,249 after a loss of €11,893 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €7.3m
Fixed assets
€2.9m ▼ 3.4%
Current assets
€4.4m ▲ 193%
Equity and liabilities €7.3m
Equity
€2.3m ▲ 2.5%
Debt
€4.9m ▲ 125%
Debt's share of the balance-sheet total rises from 49.0% to 67.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€186,569▲
2023 · €46,657
Cash flow
€113,738▼
2023 · €1.4m
Current ratio
2.43▲
2023 · 0.76
Quick ratio
0.05▲
2023 · 0.03
Debt to equity
2.11▲
2023 · 0.96
ROE
2.4%▼
2023 · 57.2%
ROA
0.8%▼
2023 · 29.2%
Interest coverage
2.81▲
2023 · 2.00
Debt ≤ 1 year
€1.8m▼
2023 · €2.0m
Debt > 1 year
€3.1m▲
2023 · €204,790
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,832 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 98% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.1%
went bankrupt
2.0%
stopped otherwise
98%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 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 1,832 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €555,699 | €452,778 | €116,753 | €420,799 | ▲ 260% |
| Turnover70 | €389,769 | €555,699 | €378,524 | €33,632 | - | - |
| Other operating income74 | - | - | €60,866 | €83,121 | €93,895 | ▲ 13.0% |
| Non-recurring operating income76A | - | - | €13,388 | - | €326,904 | - |
| Operating charges60/66A | - | €505,594 | €508,245 | €128,646 | €291,550 | ▲ 127% |
| Goods for resale, raw materials and consumables60 | - | €412,430 | €299,766 | €26,275 | €0 | ▼ 100% |
| Purchases600/8 | - | €132,950 | €632,000 | €22,000 | €2.9m | ▲ 12,882% |
| Change in stocks: decrease (increase)609 | - | €279,480 | -€332,234 | €4,275 | -€2.9m | ▼ 66,907% |
| Services and other goods61 | - | €25,541 | €37,774 | €23,403 | €47,960 | ▲ 105% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,353 | €40,228 | €45,210 | €58,550 | €57,320 | ▼ 2.1% |
| Other operating charges640/8 | - | €27,395 | €125,495 | €20,418 | €186,270 | ▲ 812% |
| Operating profit (loss)9901 | €87,260 | €50,105 | -€55,467 | -€11,893 | €129,249 | ▲ 1,187% |
| Financial income75/76B | - | - | - | €1.3m | - | - |
| Recurring financial income75 | - | - | - | €1.3m | - | - |
| Income from financial fixed assets750 | - | - | - | €1.3m | - | - |
| Financial charges65/66B | - | €15,924 | €25,031 | €25,570 | €72,831 | ▲ 185% |
| Recurring financial charges65 | €16,277 | €15,924 | €25,031 | €25,570 | €72,831 | ▲ 185% |
| Debt charges650 | €13,228 | €11,880 | €19,347 | €23,367 | €66,383 | ▲ 184% |
| Other financial charges652/9 | - | €4,044 | €5,684 | €2,203 | €6,448 | ▲ 193% |
| Profit (loss) for the period before taxes9903 | €70,983 | €34,181 | -€80,498 | €1.3m | €56,418 | ▼ 95.7% |
| Income taxes67/77 | €27,439 | €9,122 | - | - | - | - |
| Taxes670/3 | - | €9,122 | - | - | - | - |
| Profit (loss) for the period9904 | €43,544 | €25,059 | -€80,498 | €1.3m | €56,418 | ▼ 95.7% |
| Profit (loss) for the period to be appropriated9905 | €43,544 | €25,059 | -€80,498 | €1.3m | €56,418 | ▼ 95.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.7m | €3.5m | €4.4m | €4.5m | €7.3m | ▲ 62.4% |
| Fixed assets21/28 | €2.0m | €2.3m | €2.9m | €3.0m | €2.9m | ▼ 3.4% |
| Tangible fixed assets22/27 | €620,682 | €772,406 | €1.3m | €1.3m | €1.1m | ▼ 14.4% |
| Land and buildings22 | - | €579,434 | €1.3m | €1.3m | €1.1m | ▼ 14.4% |
| Plant, machinery and equipment23 | - | €1,020 | €680 | €340 | - | - |
| Assets under construction and advance payments27 | - | €191,952 | - | - | - | - |
| Financial fixed assets28 | €1.4m | €1.5m | €1.6m | €1.7m | €1.8m | ▲ 4.6% |
| Affiliated companies280/1 | - | €1.4m | €1.6m | €1.7m | €1.8m | ▲ 4.7% |
| Participating interests280 | - | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Amounts receivable281 | - | - | €150,000 | €235,000 | €314,000 | ▲ 33.6% |
| Other financial fixed assets284/8 | - | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Shares284 | - | €37,184 | €37,184 | €37,184 | €37,184 | = |
| Current assets29/58 | €1.7m | €1.2m | €1.5m | €1.5m | €4.4m | ▲ 193% |
| Stocks and contracts in progress3 | €1.4m | €1.1m | €1.4m | €1.4m | €4.3m | ▲ 198% |
| Stocks30/36 | - | €1.1m | €1.4m | €1.4m | €4.3m | ▲ 198% |
| Property held for sale35 | - | €1.1m | €1.4m | €1.4m | €4.3m | ▲ 198% |
| Amounts receivable within one year40/41 | - | - | - | - | €628 | - |
| Trade receivables40 | - | - | - | - | €628 | - |
| Cash at bank and in hand54/58 | €248,166 | €116,787 | €20,525 | €56,497 | €88,956 | ▲ 57.5% |
| Deferred charges and accrued income490/1 | - | €2,268 | €2,194 | €2,329 | €4,113 | ▲ 76.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.7m | €3.5m | €4.4m | €4.5m | €7.3m | ▲ 62.4% |
| Equity10/15 | €1.0m | €1.1m | €976,955 | €2.3m | €2.3m | ▲ 2.5% |
| Contributions10/11 | €347,051 | €347,051 | €347,051 | €347,051 | €347,051 | = |
| Capital10 | - | €347,051 | €347,051 | €347,051 | €347,051 | = |
| Issued capital100 | - | €347,051 | €347,051 | €347,051 | €347,051 | = |
| Reserves13 | €154,351 | €154,351 | €154,351 | €154,351 | €154,351 | = |
| Non-distributable reserves130/1 | - | €34,705 | €34,705 | €34,705 | €34,705 | = |
| Legal reserve130 | - | €34,705 | €34,705 | €34,705 | €34,705 | = |
| Distributable reserves133 | - | €119,646 | €119,646 | €119,646 | €119,646 | = |
| Profit (loss) carried forward14 | €530,992 | €556,051 | €475,553 | €1.8m | €1.8m | ▲ 3.2% |
| Amounts payable17/49 | €2.7m | €2.4m | €3.4m | €2.2m | €4.9m | ▲ 125% |
| Amounts payable after more than one year17 | €1.4m | €1.2m | €1.5m | €204,790 | €3.1m | ▲ 1,421% |
| Financial debts170/4 | - | €1.2m | €1.5m | €204,790 | €3.1m | ▲ 1,421% |
| Credit institutions173 | - | €1.2m | €1.5m | €204,790 | €3.1m | ▲ 1,421% |
| Amounts payable within one year42/48 | €1.2m | €1.3m | €1.9m | €2.0m | €1.8m | ▼ 8.7% |
| Current portion of amounts payable after more than one year42 | - | €38,655 | €42,370 | €42,890 | €40,117 | ▼ 6.5% |
| Trade debts44 | - | €1,235 | €2,415 | €2,488 | €53 | ▼ 97.9% |
| Suppliers440/4 | - | €1,235 | €2,415 | €2,488 | €53 | ▼ 97.9% |
| Taxes, remuneration and social security45 | - | €28,066 | €9,122 | - | - | - |
| Taxes450/3 | - | €28,066 | €9,122 | - | - | - |
| Other amounts payable47/48 | - | €1.2m | €1.9m | €1.9m | €1.8m | ▼ 8.6% |
| Accrued charges and deferred income492/3 | - | €2,414 | €8,180 | €5,809 | €1,146 | ▼ 80.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43,544 | €25,059 | -€80,498 | €1.3m | €56,418 | ▼ 95.7% |
| + Depreciation and write-downs630 | €40,353 | €40,228 | €45,210 | €58,550 | €57,320 | ▼ 2.1% |
| Operating cash flow (approximation) | €83,897 | €65,287 | -€35,288 | €1.4m | €113,738 | ▼ 91.6% |
| Investment in fixed assets (approximation) | - | -€291,952 | -€735,369 | -€85,000 | €44,101 | ▲ 152% |
| Change in cash | - | -€131,379 | -€96,262 | €35,972 | €32,459 | ▼ 9.8% |
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
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Liquidity triplescurrent ratio 2.43
Current ratio from 0.76 to 2.43; short-term debt falls from €2.0m to €1.8m.
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €1.3m
Net result €1.3m after one loss-making year.
31-12
Financial
Equity above €2mEq €2.3m ▲133%
Equity rises from €976,955 to €2.3m.
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet -€80,498
Net result drops to -€80,498, the lowest in the series; recovery starts the following year.
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €1mEq €1.0m ▲4.4%
2 profitable years in a row build equity to €1.0m.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Back to profitnet €64,615
Net result €64,615 after one loss-making year.
Show earlier events
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
20-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
07-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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 · 1 establishment unit since 1987
Ground area
1.6 ha
Building footprint
1,758 m²
Volume, LiDAR
10,117 m³
Parcel 52342A0252/00V002, Wallonia · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
GESIM
since 19872.032.311.237
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52342A0252/00V002 | Wallonia | 1.6 ha | 1 · 1,758 m² | 10.8 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.
Structure & network
Owners and holdings
1 owner · 2 holdingsChain of control
- MANOKA
- K4K HOLDING
- GESIM
Highest known parent: MANOKA. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 2
-
100%
- IMMO PETIT MALGRASsubsidiaryEquity €242,506Result -€235100%
Stated earlier (1)
An older source named these holdings; newer accounts no longer list them.
-
8.57%
According to the 2024 annual accounts of GESIM and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 11,756 companies in sector 68310 we hold annual accounts for 6,907. 2,576 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded16-03-1987
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0430675545
Also
9925:BE0430675545
Registered
20-11-2020
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.