GESTA-TEC
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 38 filings
Turnover
≈ €350,000
Estimated: probably between €270,000 and €510,000
EBIT margin
Not included in this filing
Net result
€28,516▲ 1.8%
2024 · €28,014
Working capital
€311,129▲ 15.7%
2024 · €268,840
In the rankings
#3 oldest company in Libin, Construction sector#9 company by equity in Libin, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€49,009
▼ 2.5%
2025
20182025
Net result
€28,516
▲ 1.8%
2025
middle half of the sector
20182025
Equity
€402,886
▲ 7.6%
2025
middle half of the sector
20182025
Total assets
€731,394
▼ 4.3%
2025
middle half of the sector
20182025
Debt
€328,509
▼ 15.7%
2025
20182025
Working capital
€311,129
▲ 15.7%
2025
middle half of the sector
20182025
Solvency
55.1%
▲ 6.1pp
2025
middle half of the sector
20182025
Current ratio
2.17
▲ 0.30
2025
middle half of the sector
20182025
Return on assets (ROA)
3.9%
▲ 0.2pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€15,364-€15,579▲ 1.4%€18,719▲ 20.2%€11,715▼ 37.4%€36,753▲ 214%€44,777▲ 21.8%€50,244▲ 12.2%€49,009▼ 2.5%
Net result€3,719-€3,842▲ 3.3%€5,092within the sector's middle half▲ 32.5%€2,758within the sector's middle half▼ 45.8%€36,510above the sector's middle half▲ 13×€20,152within the sector's middle half▼ 44.8%€28,014within the sector's middle half▲ 39.0%€28,516within the sector's middle half▲ 1.8%
Equity€278,002-€281,844▲ 1.4%€286,936above the sector's middle half▲ 1.8%€289,694above the sector's middle half▲ 1.0%€326,204above the sector's middle half▲ 12.6%€346,356within the sector's middle half▲ 6.2%€374,370within the sector's middle half▲ 8.1%€402,886within the sector's middle half▲ 7.6%
Total assets€796,400-€614,879▼ 22.8%€558,240above the sector's middle half▼ 9.2%€557,135above the sector's middle half▼ 0.2%€690,003above the sector's middle half▲ 23.8%€767,869within the sector's middle half▲ 11.3%€764,273within the sector's middle half▼ 0.5%€731,394within the sector's middle half▼ 4.3%
Debt€518,398-€333,035▼ 35.8%€271,304▼ 18.5%€267,441▼ 1.4%€363,799▲ 36.0%€421,513▲ 15.9%€389,903▼ 7.5%€328,509▼ 15.7%
Working capital€225,594-€219,828▼ 2.6%€207,463above the sector's middle half▼ 5.6%€221,519above the sector's middle half▲ 6.8%€198,207above the sector's middle half▼ 10.5%€234,378within the sector's middle half▲ 18.2%€268,840within the sector's middle half▲ 14.7%€311,129within the sector's middle half▲ 15.7%
Solvency34.9%-45.8%▲ 10.9pp51.4%within the sector's middle half▲ 5.6pp52.0%within the sector's middle half▲ 0.6pp47.3%within the sector's middle half▼ 4.7pp45.1%within the sector's middle half▼ 2.2pp49.0%within the sector's middle half▲ 3.9pp55.1%within the sector's middle half▲ 6.1pp
Current ratio1.63-2.16▲ 0.532.45within the sector's middle half▲ 0.282.40within the sector's middle half▼ 0.041.77within the sector's middle half▼ 0.631.74within the sector's middle half▼ 0.031.87within the sector's middle half▲ 0.132.17within the sector's middle half▲ 0.30
Return on assets (ROA)0.5%-0.6%▲ 0.2pp0.9%within the sector's middle half▲ 0.3pp0.5%below the sector's middle half▼ 0.4pp5.3%within the sector's middle half▲ 4.8pp2.6%within the sector's middle half▼ 2.7pp3.7%within the sector's middle half▲ 1.0pp3.9%within the sector's middle half▲ 0.2pp
Staff (FTE)5.9-7.2▲ 22.0%3above the sector's middle half▼ 58.3%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 2% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €731,394
Fixed assets
€153,224 ▼ 17.8%
Current assets
€578,170 =
Equity and liabilities €731,394
Equity
€402,886 ▲ 7.6%
Debt
€328,509 ▼ 15.7%
Debt's share of the balance-sheet total falls from 51.0% to 44.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€80,187▼
2024 · €82,157
Cash flow
€59,694▼
2024 · €59,927
Quick ratio
2.05▲
2024 · 1.85
Debt to equity
0.82▼
2024 · 1.04
ROE
7.1%▼
2024 · 7.5%
Interest coverage
9.05▲
2024 · 7.89
Debt ≤ 1 year
€267,041▼
2024 · €309,107
Debt > 1 year
€61,468▼
2024 · €80,796
Income taxes
€11,797▼
2024 · €12,495
Staff costs
€4,033▲
2024 · -€369
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 |
|---|---|
| Joined | 5 |
| Left | 5 |
Source: social balance sheet in the 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €80,534 | €17,071 | €40,228 | €40,236 |
| Intangible fixed assets | €2,600 | - | - | - | - |
| Financial fixed assets | - | - | €510 | - | - |
| Depreciation and write-downs of the year | €22,570 | €17,955 | €34,117 | €31,913 | €31,178 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €8,403 | - |
| Remuneration, social security and pensions62 | - | - | - | €103,684 | €54,450 | €5,599 | -€369 | €4,033 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,369 | €21,641 | €20,653 | €22,570 | €17,955 | €34,117 | €31,913 | €31,178 | ▼ 2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €989 | - |
| Other operating charges640/8 | - | - | - | €4,199 | €4,704 | €5,816 | €7,559 | €5,138 | ▼ 32.0% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €16,253 | €6,895 | ▼ 57.6% |
| Gross operating margin9900 | €215,832 | €256,593 | €145,749 | €142,168 | €113,862 | €90,309 | €105,600 | €97,242 | ▼ 7.9% |
| Operating profit (loss)9901 | €15,364 | €15,579 | €18,719 | €11,715 | €36,753 | €44,777 | €50,244 | €49,009 | ▼ 2.5% |
| Financial income75/76B | - | - | - | €4,444 | €22,100 | €0 | €676 | €169 | ▼ 75.0% |
| Recurring financial income75 | €313 | €1,477 | €427 | €1,193 | €100 | €0 | €676 | €169 | ▼ 75.0% |
| Non-recurring financial income76B | - | - | - | €3,251 | €22,000 | - | - | - | - |
| Financial charges65/66B | - | - | - | €11,248 | €10,731 | €11,644 | €10,411 | €8,865 | ▼ 14.8% |
| Recurring financial charges65 | €11,868 | €11,236 | €12,770 | €11,248 | €10,731 | €11,644 | €10,411 | €8,865 | ▼ 14.8% |
| Profit (loss) for the period before taxes9903 | €3,809 | €5,819 | €6,826 | €4,911 | €48,122 | €33,134 | €40,509 | €40,313 | ▼ 0.5% |
| Income taxes67/77 | €90 | €1,977 | €1,734 | €2,154 | €11,612 | €12,982 | €12,495 | €11,797 | ▼ 5.6% |
| Profit (loss) for the period9904 | €3,719 | €3,842 | €5,092 | €2,758 | €36,510 | €20,152 | €28,014 | €28,516 | ▲ 1.8% |
| Profit (loss) for the period to be appropriated9905 | €3,719 | €3,842 | €5,092 | €2,758 | €36,510 | €20,152 | €28,014 | €28,516 | ▲ 1.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €796,400 | €614,879 | €558,240 | €557,135 | €690,003 | €767,869 | €764,273 | €731,394 | ▼ 4.3% |
| Fixed assets21/28 | €214,471 | €205,716 | €207,244 | €177,812 | €234,863 | €218,327 | €186,326 | €153,224 | ▼ 17.8% |
| Intangible fixed assets21 | - | €4,992 | €3,744 | €2,496 | €1,248 | €0 | - | - | - |
| Tangible fixed assets22/27 | €213,972 | €200,225 | €203,001 | €174,817 | €233,116 | €217,318 | €185,317 | €152,714 | ▼ 17.6% |
| Land and buildings22 | - | - | - | €168,182 | €202,017 | €179,601 | €157,187 | €134,772 | ▼ 14.3% |
| Plant, machinery and equipment23 | - | - | - | €877 | €364 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €5,758 | €30,736 | €37,716 | €28,130 | €17,942 | ▼ 36.2% |
| Financial fixed assets28 | €499 | €499 | €499 | €499 | €499 | €1,009 | €1,009 | €510 | ▼ 49.5% |
| Current assets29/58 | €581,929 | €409,163 | €350,996 | €379,323 | €455,140 | €549,542 | €577,947 | €578,170 | = |
| Stocks and contracts in progress3 | €30,154 | €26,293 | €16,113 | €64,453 | €11,815 | €1,546 | €5,455 | €31,132 | ▲ 471% |
| Stocks30/36 | - | - | - | €15,753 | €11,815 | €1,546 | €5,455 | €7,247 | ▲ 32.9% |
| Contracts in progress37 | - | - | - | €48,700 | - | - | - | €23,885 | - |
| Amounts receivable within one year40/41 | €498,006 | €328,208 | €256,782 | €299,623 | €404,440 | €538,772 | €531,001 | €532,401 | ▲ 0.3% |
| Trade receivables40 | - | - | - | €117,080 | €167,209 | €230,475 | €131,893 | €146,829 | ▲ 11.3% |
| Other amounts receivable41 | - | - | - | €182,543 | €237,232 | €308,297 | €399,107 | €385,571 | ▼ 3.4% |
| Current investments50/53 | €40,000 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €9,031 | €7,581 | €9,911 | €14,621 | €36,979 | €8,426 | €41,491 | €13,370 | ▼ 67.8% |
| Deferred charges and accrued income490/1 | - | - | - | €626 | €1,906 | €798 | - | €1,268 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €796,400 | €614,879 | €558,240 | €557,135 | €690,003 | €767,869 | €764,273 | €731,394 | ▼ 4.3% |
| Equity10/15 | €278,002 | €281,844 | €286,936 | €289,694 | €326,204 | €346,356 | €374,370 | €402,886 | ▲ 7.6% |
| Contributions10/11 | €19,000 | €19,000 | - | €19,000 | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €196,302 | €196,302 | €196,302 | €196,302 | €196,302 | €196,302 | €196,302 | €196,302 | = |
| Non-distributable reserves130/1 | - | - | - | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | - | - | - | €1,900 | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Distributable reserves133 | - | - | - | €194,402 | €194,402 | €194,402 | €194,402 | €194,402 | = |
| Profit (loss) carried forward14 | €62,700 | €66,542 | €71,634 | €74,391 | €110,901 | €131,054 | €159,068 | €187,583 | ▲ 17.9% |
| Amounts payable17/49 | €518,398 | €333,035 | €271,304 | €267,441 | €363,799 | €421,513 | €389,903 | €328,509 | ▼ 15.7% |
| Amounts payable after more than one year17 | €162,063 | €143,700 | €126,985 | €109,637 | €106,866 | €106,349 | €80,796 | €61,468 | ▼ 23.9% |
| Financial debts170/4 | - | - | - | €109,637 | €106,866 | €106,349 | €80,796 | €61,468 | ▼ 23.9% |
| Amounts payable within one year42/48 | €356,335 | €189,335 | €143,534 | €157,805 | €256,933 | €315,164 | €309,107 | €267,041 | ▼ 13.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €17,348 | €18,004 | €24,593 | €37,356 | €31,109 | ▼ 16.7% |
| Financial debts43 | - | - | - | €42,500 | €67,294 | €31,557 | €30,328 | €42,089 | ▲ 38.8% |
| Credit institutions430/8 | - | - | - | €42,500 | €67,294 | €31,557 | €30,328 | €42,089 | ▲ 38.8% |
| Trade debts44 | €230,924 | €77,771 | €38,693 | €76,977 | €121,265 | €164,450 | €146,374 | €105,147 | ▼ 28.2% |
| Suppliers440/4 | - | - | - | €76,977 | €121,265 | €164,450 | €146,374 | €105,147 | ▼ 28.2% |
| Taxes, remuneration and social security45 | - | - | - | €2,375 | €11,923 | €12,862 | - | €5,413 | - |
| Taxes450/3 | - | - | - | - | €11,612 | €11,126 | - | €4,294 | - |
| Remuneration and social security454/9 | - | - | - | €2,375 | €311 | €1,736 | - | €1,119 | - |
| Other amounts payable47/48 | - | - | - | €18,605 | €38,447 | €81,701 | €95,049 | €83,283 | ▼ 12.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,719 | €3,842 | €5,092 | €2,758 | €36,510 | €20,152 | €28,014 | €28,516 | ▲ 1.8% |
| + Depreciation and write-downs630 | €18,369 | €21,641 | €20,653 | €22,570 | €17,955 | €34,117 | €31,913 | €31,178 | ▼ 2.3% |
| Operating cash flow (approximation) | €22,087 | €25,483 | €25,745 | €25,328 | €54,465 | €54,270 | €59,927 | €59,694 | ▼ 0.4% |
| Investment in fixed assets (approximation) | - | -€12,886 | -€22,181 | €6,862 | -€75,006 | -€17,581 | €88 | €1,924 | ▲ 22× |
| Change in cash | - | -€1,450 | €2,330 | €4,709 | €22,358 | -€28,553 | €33,066 | -€28,122 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 14,766 companies had the same profile as GESTA-TEC has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GESTA-TEC itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for GESTA-TEC. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-06-2026 | 2026-00204998 | |
| 31-12-2024 | full format | 18-07-2025 | 2025-00291231 | |
| 31-12-2023 | full format | 27-06-2024 | 2024-00173954 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00161453 | |
| 31-12-2021 | micro format | 25-08-2022 | 2022-20315925 | |
| 31-12-2020 | micro format | 24-08-2021 | 2021-53000039 | |
| 31-12-2019 | micro format | 20-08-2020 | 2020-43000430 | |
| 31-12-2018 | micro format | 05-08-2019 | 2019-44500187 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-61500450 | |
| 31-12-2016 | full format | 13-07-2017 | 2017-31500566 |