GESIRA
ActiveSummary
GESIRA has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.5m and a net result of €445,590. Equity is growing by ~20.6% per year across the filed fiscal years. Its solvency ranks better than 36% of 4616 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+3
Solvency49▲+7
Growth64▼-3
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity short (current ratio 0.03 against 0.02 in 2024; short-term debt: 6.5% and cash: 0.1% of total assets), and 76.1% 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 2025Solvency, return and age of the figures
Solvency
23.9%
Return on assets
7%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
17 d late
2024
17 d early
2023
37 d early
2022
32 d early
2021
24 d early
2020
11 d early
2019
30 d early
← 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 19 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 (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. Usually files around 7 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€285,615▼ 6.7%
2024 · €306,089
EBIT margin
98.7%▲ 15.4pp
2024 · 83.3%
Net result
€445,590▲ 34.9%
2024 · €330,189
Working capital
-€399,270▲ 29.5%
2024 · -€566,357
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€275,433€275,433=€275,433=€306,089▲ 11.1%€285,615▼ 6.7%
Operating result€173,903▼ 2.7%€199,385▲ 14.7%€177,808▼ 10.8%€254,957▲ 43.4%€281,884▲ 10.6%
Net result€110,228within the sector's middle half▼ 21.4%€704,277above the sector's middle half▲ 539%€330,162above the sector's middle half▼ 53.1%€330,189above the sector's middle half=€445,590above the sector's middle half▲ 34.9%
EBIT margin63.1%72.4%▲ 9.3pp64.6%▼ 7.8pp83.3%▲ 18.7pp98.7%▲ 15.4pp
Equity€112,058within the sector's middle half▼ 79.9%€681,335within the sector's middle half▲ 508%€911,497within the sector's middle half▲ 33.8%€1.1mwithin the sector's middle half▲ 17.6%€1.5mwithin the sector's middle half▲ 41.6%
Total assets€6.2mwithin the sector's middle half▲ 983%€6.2mwithin the sector's middle half▼ 0.3%€6.4mwithin the sector's middle half▲ 3.4%€6.4mwithin the sector's middle half▼ 0.5%€6.4mwithin the sector's middle half▼ 0.2%
Debt€6.1m▲ 37,991%€5.5m▼ 9.6%€5.5m▼ 0.3%€5.3m▼ 3.5%€4.8m▼ 8.7%
Working capital-€1.8mbelow the sector's middle half-€334,841below the sector's middle half▲ 81.3%-€431,552below the sector's middle half▼ 28.9%-€566,357below the sector's middle half▼ 31.2%-€399,270below the sector's middle half▲ 29.5%
Solvency1.8%below the sector's middle half▼ 95.4pp11.0%within the sector's middle half▲ 9.2pp14.2%within the sector's middle half▲ 3.2pp16.8%within the sector's middle half▲ 2.6pp23.9%within the sector's middle half▲ 7.0pp
Current ratio0.07below the sector's middle half▼ 29.970.28below the sector's middle half▲ 0.210.07below the sector's middle half▼ 0.210.02below the sector's middle half▼ 0.050.03below the sector's middle half▲ 0.01
Return on assets (ROA)1.8%within the sector's middle half▼ 22.7pp11.4%above the sector's middle half▲ 9.6pp5.2%above the sector's middle half▼ 6.2pp5.2%above the sector's middle half=7.0%above the sector's middle half▲ 1.8pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.4m
Fixed assets
€6.3m ▼ 0.2%
Current assets
€14,362 ▼ 0.5%
Equity and liabilities €6.4m
Equity
€1.5m ▲ 41.6%
Debt
€4.8m ▼ 8.7%
Debt's share of the balance-sheet total falls from 83.2% to 76.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€295,059▲
2024 · €268,132
Cash flow
€458,765▲
2024 · €343,364
Debt to equity
3.19▼
2024 · 4.94
ROE
29.4%▼
2024 · 30.8%
Interest coverage
2.93▲
2024 · 2.60
Debt ≤ 1 year
€413,633▼
2024 · €580,792
Debt > 1 year
€4.4m▼
2024 · €4.7m
Income taxes
€45,695▲
2024 · €37,773
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €290,183 | €292,033 | €291,157 | €335,646 | €339,237 | ▲ 1.1% |
| Turnover70 | €275,433 | €275,433 | €275,433 | €306,089 | €285,615 | ▼ 6.7% |
| Other operating income74 | €14,750 | €16,600 | €15,724 | €29,558 | €53,622 | ▲ 81.4% |
| Operating charges60/66A | €116,280 | €92,648 | €113,349 | €80,690 | €57,353 | ▼ 28.9% |
| Services and other goods61 | €35,076 | €56,105 | €36,312 | €39,845 | €15,639 | ▼ 60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €46,970 | €16,072 | €54,023 | €13,175 | €13,175 | = |
| Other operating charges640/8 | €19,645 | €20,471 | €23,014 | €27,670 | €28,538 | ▲ 3.1% |
| Non-recurring operating charges66A | €14,590 | - | - | - | - | - |
| Operating profit (loss)9901 | €173,903 | €199,385 | €177,808 | €254,957 | €281,884 | ▲ 10.6% |
| Financial income75/76B | - | €605,000 | €239,947 | €216,874 | €309,945 | ▲ 42.9% |
| Recurring financial income75 | - | €605,000 | €239,947 | €216,874 | €309,945 | ▲ 42.9% |
| Income from financial fixed assets750 | - | €605,000 | €239,944 | €216,870 | €309,944 | ▲ 42.9% |
| Income from current assets751 | - | - | €2 | €4 | €1 | ▼ 86.1% |
| Financial charges65/66B | €26,933 | €62,487 | €56,562 | €103,868 | €100,544 | ▼ 3.2% |
| Recurring financial charges65 | €26,933 | €62,487 | €56,562 | €103,868 | €100,544 | ▼ 3.2% |
| Debt charges650 | - | €62,317 | €55,811 | €103,210 | €100,544 | ▼ 2.6% |
| Other financial charges652/9 | €26,933 | €170 | €751 | €658 | - | - |
| Profit (loss) for the period before taxes9903 | €146,970 | €741,897 | €361,193 | €367,963 | €491,286 | ▲ 33.5% |
| Income taxes67/77 | €36,742 | €37,620 | €31,031 | €37,773 | €45,695 | ▲ 21.0% |
| Taxes670/3 | €36,973 | €37,620 | €31,031 | €37,773 | €45,695 | ▲ 21.0% |
| Tax adjustments and reversals of tax provisions77 | €230 | - | - | - | - | - |
| Profit (loss) for the period9904 | €110,228 | €704,277 | €330,162 | €330,189 | €445,590 | ▲ 34.9% |
| Profit (loss) for the period to be appropriated9905 | €110,228 | €704,277 | €330,162 | €330,189 | €445,590 | ▲ 34.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.2m | €6.2m | €6.4m | €6.4m | €6.4m | ▼ 0.2% |
| Fixed assets21/28 | €6.1m | €6.1m | €6.4m | €6.4m | €6.3m | ▼ 0.2% |
| Tangible fixed assets22/27 | €45,290 | €29,218 | €333,009 | €319,834 | €306,659 | ▼ 4.1% |
| Land and buildings22 | €29,218 | €29,218 | €333,009 | €319,834 | €306,659 | ▼ 4.1% |
| Plant, machinery and equipment23 | €16,072 | - | - | - | - | - |
| Financial fixed assets28 | €6.0m | €6.0m | €6.0m | €6.0m | €6.0m | = |
| Affiliated companies280/1 | - | €6.0m | €6.0m | €6.0m | €6.0m | = |
| Participating interests280 | - | €6.0m | €6.0m | €6.0m | €6.0m | = |
| Companies linked by participating interests282/3 | €6.0m | - | - | - | - | - |
| Participating interests282 | €6.0m | - | - | - | - | - |
| Current assets29/58 | €131,268 | €129,870 | €32,473 | €14,435 | €14,362 | ▼ 0.5% |
| Amounts receivable within one year40/41 | €9,102 | €39,952 | €5,419 | €6,843 | €2,868 | ▼ 58.1% |
| Trade receivables40 | €4,654 | €39,952 | €1,841 | €5,359 | €1,354 | ▼ 74.7% |
| Other amounts receivable41 | €4,448 | - | €3,578 | €1,484 | €1,514 | ▲ 2.0% |
| Current investments50/53 | - | - | €686 | - | - | - |
| Other investments51/53 | - | - | €686 | - | - | - |
| Cash at bank and in hand54/58 | €122,166 | €83,127 | €26,369 | €870 | €8,767 | ▲ 908% |
| Deferred charges and accrued income490/1 | - | €6,791 | - | €6,722 | €2,728 | ▼ 59.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.2m | €6.2m | €6.4m | €6.4m | €6.4m | ▼ 0.2% |
| Equity10/15 | €112,058 | €681,335 | €911,497 | €1.1m | €1.5m | ▲ 41.6% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | €43,858 | €613,135 | €843,297 | €1.0m | €1.4m | ▲ 44.4% |
| Amounts payable17/49 | €6.1m | €5.5m | €5.5m | €5.3m | €4.8m | ▼ 8.7% |
| Amounts payable after more than one year17 | €4.2m | €5.0m | €5.0m | €4.7m | €4.4m | ▼ 6.3% |
| Financial debts170/4 | €2.6m | €2.3m | €2.3m | €2.1m | €1.8m | ▼ 16.0% |
| Credit institutions173 | €2.6m | €2.3m | €2.3m | €2.1m | €1.8m | ▼ 16.0% |
| Other amounts payable178/9 | €1.6m | €2.7m | €2.7m | €2.5m | €2.6m | ▲ 2.0% |
| Amounts payable within one year42/48 | €1.9m | €464,711 | €464,026 | €580,792 | €413,633 | ▼ 28.8% |
| Current portion of amounts payable after more than one year42 | €192,349 | €287,992 | €302,598 | €340,560 | €342,924 | ▲ 0.7% |
| Financial debts43 | - | - | €30,000 | €10,142 | €10,095 | ▼ 0.5% |
| Credit institutions430/8 | - | - | €30,000 | €10,142 | €10,095 | ▼ 0.5% |
| Trade debts44 | €6,000 | €19,910 | €5,466 | €21,287 | €7,146 | ▼ 66.4% |
| Suppliers440/4 | €6,000 | €19,910 | €5,466 | €21,287 | €7,146 | ▼ 66.4% |
| Taxes, remuneration and social security45 | €22,308 | €21,809 | €15,942 | €8,802 | €23,467 | ▲ 167% |
| Taxes450/3 | €22,308 | €21,809 | €15,942 | €8,802 | €23,467 | ▲ 167% |
| Other amounts payable47/48 | €1.7m | €135,000 | €110,020 | €200,000 | €30,000 | ▼ 85.0% |
| Accrued charges and deferred income492/3 | €6,000 | €6,000 | - | €63,282 | €63,523 | ▲ 0.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €110,228 | €704,277 | €330,162 | €330,189 | €445,590 | ▲ 34.9% |
| + Depreciation and write-downs630 | €46,970 | €16,072 | €54,023 | €13,175 | €13,175 | = |
| Operating cash flow (approximation) | €157,197 | €720,349 | €384,185 | €343,364 | €458,765 | ▲ 33.6% |
| Investment in fixed assets (approximation) | - | €0 | -€363,314 | €0 | €0 | - |
| Change in cash | - | -€39,039 | -€56,758 | -€25,499 | €7,897 | ▲ 131% |
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
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 17 days late
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €1mEq €1.1m ▲17.6%
7 profitable years in a row build equity to €1.1m.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €704,277 ▲539%
Net result €704,277, the highest in the series.
31-12
Financial
Equity above €500,000Eq €681,335 ▲508%
5 profitable years in a row build equity to €681,335.
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Liquidity triplescurrent ratio 30.04
Current ratio from 10.51 to 30.04; short-term debt falls from €30,457 to €16,000.
31-12
Financial
Equity above €500,000Eq €556,830 ▲26.1%
3 profitable years in a row build equity to €556,830.
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
No directors read yet: 0 of 8 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Raeren · 1 establishment unit since 1991
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.
Roetgener Strasse 654730 Raeren1 establishment unit
GESIRA
since 19912.130.802.562
Structure & network
Owners and holdings
2 owners · 4 holdingsChain of control
- ERAWE
- GESIRA
Highest known parent: ERAWE. The sources do not say who stands above it.
Owners 2
- ERAWEparentSourceaccounts ERAWE 202594.98%
-
5%
Holdings 4
- Sourceown accounts 2025Equity €860,773Result €15,148100%
-
100%
-
55%
-
29.94%
According to the 2025 annual accounts of GESIRA 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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Company details
Identification
Legal formPublic limited company
Founded29-10-1991
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68201Renting and operating of own or leased residential real estate, excluding social housing
68204Real estate activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0445621166
Registered
22-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.