GESTBEL
ActiveSummary
GESTBEL has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €81,179 and a net result of €40,178. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 49% of 8737 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+26
Solvency76▲+36
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity ample (current ratio 2.38 against 1.24 in 2024; short-term debt: 42% and cash: 28.1% of total assets), and 48.8% of the assets are financed with debt.
Credit check for your own amount and term
Open the credit simulator : see how the verdict changes with amount, term and advance.
Signals
Five 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
51.2%
Return on assets
25.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
139 d late
2023
31 d late
2022
92 d late
2021
26 d late
2020
27 d late
2019
119 d late
← 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 66 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€40,178▲ 2.2%
2024 · €39,294
Working capital
€91,882▲ 78.5%
2024 · €51,479
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
Line20212022202320242025
Operating result€45,917▲ 97.9%€46,400▲ 1.1%€50,902▲ 9.7%€53,199▲ 4.5%€54,573▲ 2.6%
Net result€45,803▲ 97.7%€46,508▲ 1.5%€43,524▼ 6.4%€39,294▼ 9.7%€40,178▲ 2.2%
Equity€51,675▲ 780%€98,183▲ 90.0%€141,707▲ 44.3%€41,001▼ 71.1%€81,179▲ 98.0%
Total assets€82,499▲ 169%€152,472▲ 84.8%€229,691▲ 50.6%€266,366▲ 16.0%€158,528▼ 40.5%
Debt€30,824▲ 24.1%€54,288▲ 76.1%€87,984▲ 62.1%€225,365▲ 156%€77,349▼ 65.7%
Working capital€60,362▲ 928%€108,068▲ 79.0%€151,798▲ 40.5%€51,479▼ 66.1%€91,882▲ 78.5%
Why a figure moved sharply
- 2024 Equity -71% on 2023. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 3% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €158,528
Equity
€81,179 ▲ 98.0%
Debt
€77,349 ▼ 65.7%
Debt's share of the balance-sheet total falls from 84.6% to 48.8%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
2.38▲
2024 · 1.24
Debt to equity
0.95▼
2024 · 5.50
ROE
49.5%▼
2024 · 95.8%
ROA
25.3%▲
2024 · 14.8%
Debt ≤ 1 year
€66,646▼
2024 · €214,887
Income taxes
€13,888▲
2024 · €13,410
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
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 0.1% 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 31,324 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €5,703 | €1,111 | €12,491 | €7,120 | €11,499 | ▲ 61.5% |
| Gross operating margin9900 | €51,620 | €47,511 | €63,393 | €60,319 | €66,071 | ▲ 9.5% |
| Operating profit (loss)9901 | €45,917 | €46,400 | €50,902 | €53,199 | €54,573 | ▲ 2.6% |
| Financial income75/76B | - | €261 | - | - | - | - |
| Recurring financial income75 | - | €261 | - | - | - | - |
| Financial charges65/66B | €114 | €152 | €477 | €495 | €507 | ▲ 2.5% |
| Recurring financial charges65 | €114 | €152 | €477 | €495 | €507 | ▲ 2.5% |
| Profit (loss) for the period before taxes9903 | €45,803 | €46,508 | €50,424 | €52,704 | €54,065 | ▲ 2.6% |
| Income taxes67/77 | - | - | €6,901 | €13,410 | €13,888 | ▲ 3.6% |
| Profit (loss) for the period9904 | €45,803 | €46,508 | €43,524 | €39,294 | €40,178 | ▲ 2.2% |
| Profit (loss) for the period to be appropriated9905 | €45,803 | €46,508 | €43,524 | €39,294 | €40,178 | ▲ 2.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €82,499 | €152,472 | €229,691 | €266,366 | €158,528 | ▼ 40.5% |
| Current assets29/58 | €82,499 | €152,472 | €229,691 | €266,366 | €158,528 | ▼ 40.5% |
| Amounts receivable within one year40/41 | €41,615 | €61,712 | €80,628 | €86,458 | €103,325 | ▲ 19.5% |
| Trade receivables40 | €41,615 | €61,522 | €80,628 | €86,458 | €103,325 | ▲ 19.5% |
| Other amounts receivable41 | - | €190 | - | - | - | - |
| Cash at bank and in hand54/58 | €40,829 | €85,217 | €143,402 | €174,016 | €44,481 | ▼ 74.4% |
| Deferred charges and accrued income490/1 | €56 | €5,543 | €5,661 | €5,892 | €10,722 | ▲ 82.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €82,499 | €152,472 | €229,691 | €266,366 | €158,528 | ▼ 40.5% |
| Equity10/15 | €51,675 | €98,183 | €141,707 | €41,001 | €81,179 | ▲ 98.0% |
| Contributions10/11 | €7,000 | €7,000 | €7,000 | €7,000 | €7,000 | = |
| Reserves13 | €2,100 | €2,100 | €2,100 | €2,100 | €2,100 | = |
| Non-distributable reserves130/1 | €2,100 | €2,100 | €2,100 | €2,100 | €2,100 | = |
| Reserves not available under the articles1311 | €2,100 | €2,100 | €2,100 | €2,100 | €2,100 | = |
| Profit (loss) carried forward14 | €42,575 | €89,083 | €132,607 | €31,901 | €72,079 | ▲ 126% |
| Amounts payable17/49 | €30,824 | €54,288 | €87,984 | €225,365 | €77,349 | ▼ 65.7% |
| Amounts payable within one year42/48 | €22,137 | €44,403 | €77,894 | €214,887 | €66,646 | ▼ 69.0% |
| Trade debts44 | €22,137 | €44,403 | €70,993 | €71,526 | €59,396 | ▼ 17.0% |
| Suppliers440/4 | €22,137 | €44,403 | €70,993 | €71,526 | €59,396 | ▼ 17.0% |
| Taxes, remuneration and social security45 | - | - | €6,901 | €3,362 | €7,250 | ▲ 116% |
| Taxes450/3 | - | - | €6,901 | €3,362 | €7,250 | ▲ 116% |
| Other amounts payable47/48 | - | - | - | €140,000 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €8,687 | €9,885 | €10,091 | €10,478 | €10,703 | ▲ 2.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €45,803 | €46,508 | €43,524 | €39,294 | €40,178 | ▲ 2.2% |
| Operating cash flow (approximation) | €45,803 | €46,508 | €43,524 | €39,294 | €40,178 | ▲ 2.2% |
| Change in cash | - | €44,388 | €58,186 | €30,614 | -€129,535 | ▼ 523% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
27-03
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
13-03
State Gazette act
General meeting · Board meeting
Director resignation · Director discharge
2025
17-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 139 days late
2024
14-11
State Gazette act
Board meeting · Power of attorney
Registered-office move · General meeting
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 31 days late
2023
31-12
Financial
Equity above €100,000Eq €141,707 ▲44.3%
6 profitable years in a row build equity to €141,707.
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 92 days late
2022
31-12
Financial
Highest result since 2018net €46,508 ▲1.5%
Net result €46,508, the highest in the series.
25-10
State Gazette act
Incorporation · Founder
Founding capital · Bank account
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
31-12
Financial
Liquidity triplescurrent ratio 3.73
Current ratio from 1.24 to 3.73; short-term debt falls from €24,835 to €22,137.
Show earlier events
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
05-05
State Gazette act
Auditor appointment · Permanent representative
Director discharge · Director resignation
30-04
State Gazette act
Auditor appointment · Permanent representative
Mandate compensation · Director discharge
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 119 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
12-07
State Gazette act
General meeting · Director appointment
Director resignation · Director discharge
2018
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 60 days late
2017
15-12
State Gazette act
General meeting · Director reappointment
Permanent representative · Board meeting
04-12
State Gazette act
General meeting · Director reappointment
Director appointment · Board meeting
04-12
State Gazette act
General meeting · Director reappointment
Board meeting
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
2016
18-02
State Gazette act
General meeting · Director reappointment
Permanent representative · Mandate compensation
2013
06-12
State Gazette act
General meeting · Capital
Director appointment · Director resignation
2012
18-09
State Gazette act
General meeting · Capital
Approval · Auditor appointment
14-09
State Gazette act
General meeting · Capital
Statutes amendment
20-08
State Gazette act
General meeting · Approval
Auditor reappointment · Permanent representative
05-06
State Gazette act
General meeting · Capital
Permanent representative · Statutes amendment
16-05
State Gazette act
General meeting · Capital
Approval · Director reappointment
2011
08-12
State Gazette act
General meeting · Capital
Approval · Director reappointment
28-11
State Gazette act
General meeting · Capital
Approval · Director reappointment
2010
03-12
State Gazette act
General meeting · Capital
Auditor appointment · Permanent representative
02-08
State Gazette act
General meeting · Capital increase
Capital decrease · Capital
2009
30-07
State Gazette act
General meeting · Capital
Approval · Auditor appointment
2006
14-04
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
14-04
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
2005
27-09
State Gazette act
General meeting · Statutes amendment
Director resignation · Director discharge
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
6 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, Liège · 1 establishment unit since 2005
Ground area
4,768 m²
Parcel 62814C0393/00V002, Wallonia. Linked by address, not a title deed.
140
companies at this address
See who is registered here
1 establishment unit
Rue des Guillemins 139, 4000 Liège
since 20052.148.280.378
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62814C0393/00V002 | Wallonia | 4,768 m² | - | - |
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 ownerChain of control
- BELGO LEO HOLDING
- GESTBEL
Highest known parent: BELGO LEO HOLDING. The sources do not say who stands above it.
Owners 1
- BELGO LEO HOLDINGparent98%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
4 connected companiesThis company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
ARDENT BETTING
Shared director
→
BIGB GAMING
Shared director
→
CIRCUS SERVICES
Shared director
→
TECHNO1
Shared director
→
Ownership & control
5 board mandatesBoard mandates of this companythis company sits on their board5
33 locations
3 locations
1 location
1 location
1 location
Similar companies · same sector, comparable size
Chatterjee Consulting
BE 0733.945.154
Hove · Eq €81,177
Person'Elle
BE 0680.429.561
Grobbendonk · Eq €81,176
GVA MANAGEMENT
BE 0764.509.260
Beersel · Eq €81,188
Depivan
BE 0792.827.520
Staden · Eq €81,190
DR4PROJECT
BE 0671.544.064
Kapellen · Eq €81,167
Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 40,142 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-07-2005
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
E-mail
info@ardent-re.be
Phone
042321952
E-invoicing
Reachable via Peppol
Peppol ID
0208:0875277223
Also
9925:BE0875277223
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.