Summary
GewELF is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €20,031 and a net result of -€6,891. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 44% of 9,754 sector peers (NACE 64, financial year 2025). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-02-2019 Normal situation
- Activity
- Activities of holding companies NACE 64210and 3 others
- Establishment unit
- 2.286.136.877 8540 Deerlijk, since 21-02-2019
- Financial year end
- 30 June
- Peppol
- Reachable since 24-11-2025
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts to 30-06-2025
- Loss
- €6,891
- ▲ 12.7%
- Equity
- €20,031
- ▼ 25.6%
- Total assets
- €45,145
- ▲ 3.8%
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
1 signal.
neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
1 day early
2024
14 days early
2023
31 days early
2022
22 days late
2021
1 day early
2020
4 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 5 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 30 January (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end02-11-2026 today31-01-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 6 filings
Equity
€20,031▼ 25.6%
2024 · €26,921
Net result
-€6,891▼ 12.7%
2024 · -€6,112
Total assets
€45,145▲ 3.8%
2024 · €43,495
Solvency
44.4%▼ 17.5pp
2024 · 61.9%
Trend over the years
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result for 2025 is a loss of €6,883, larger than the loss of €5,917 in 2024.
Operating result-€6,883
2025
Net result-€6,891
2025
Total assets€45,145
2025
Equity€20,031
2025
Debt€25,114
2025
Working capital€32,671
2025
Return on assets (ROA)-15.3%
2025
Solvency44.4%
2025
Current ratio3.75
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€47,789--€31,968▲ 33.1%-€19,094▲ 40.3%€184,723-€5,917-€6,883▼ 16.3%
Net result-€61,613below the sector's middle half--€52,713below the sector's middle half▲ 14.4%-€39,842below the sector's middle half▲ 24.4%€168,602above the sector's middle half-€6,112below the sector's middle half-€6,891below the sector's middle half▼ 12.7%
Equity-€49,213below the sector's middle half--€101,927below the sector's middle half▼ 107%-€141,769below the sector's middle half▼ 39.1%€33,033below the sector's middle half€26,921below the sector's middle half▼ 18.5%€20,031below the sector's middle half▼ 25.6%
Total assets€529,510within the sector's middle half-€517,109within the sector's middle half▼ 2.3%€501,856within the sector's middle half▼ 2.9%€55,425below the sector's middle half▼ 89.0%€43,495below the sector's middle half▼ 21.5%€45,145below the sector's middle half▲ 3.8%
Debt€578,723-€619,036▲ 7.0%€643,625▲ 4.0%€22,392▼ 96.5%€16,574▼ 26.0%€25,114▲ 51.5%
Working capital-€45,815below the sector's middle half--€86,066below the sector's middle half▼ 87.9%-€104,405below the sector's middle half▼ 21.3%€46,340within the sector's middle half€38,895within the sector's middle half▼ 16.1%€32,671within the sector's middle half▼ 16.0%
Solvency-9.3%below the sector's middle half--19.7%below the sector's middle half▼ 10.4pp-28.2%below the sector's middle half▼ 8.5pp59.6%within the sector's middle half▲ 87.8pp61.9%within the sector's middle half▲ 2.3pp44.4%within the sector's middle half▼ 17.5pp
Current ratio0.15below the sector's middle half-0.07below the sector's middle half▼ 0.080.02below the sector's middle half▼ 0.057.48above the sector's middle half▲ 7.4612.65above the sector's middle half▲ 5.183.75within the sector's middle half▼ 8.90
Return on assets (ROA)-11.6%below the sector's middle half--10.2%below the sector's middle half▲ 1.4pp-7.9%below the sector's middle half▲ 2.3pp304.2%above the sector's middle half▲ 312.1pp-14.1%below the sector's middle half▼ 318.3pp-15.3%below the sector's middle half▼ 1.2pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €45,145
Fixed assets
€595 ▼ 52.8%
Current assets
€44,550 ▲ 5.5%
Equity and liabilities €45,145
Equity
€20,031 ▼ 25.6%
Debt
€25,114 ▲ 51.5%
Debt's share of the balance-sheet total rises from 38.1% to 55.6%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-34.4%▼
2024 · -22.7%
Debt ≤ 1 year
€11,878▲
2024 · €3,338
Income taxes
€0▲
2024 · -€65
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €577,500 | - | - | - |
| Carrying value of the mortgaged assets | €499,991 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €2,000 | - | - |
| Depreciation and write-downs of the year | €10,805 | €71 | €667 | €667 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,948 | €10,805 | €10,805 | €71 | €667 | €667 | = |
| Other operating charges640/8 | - | - | €3,932 | €39,553 | €3,099 | €513 | ▼ 83.4% |
| Gross operating margin9900 | -€20,284 | -€16,654 | -€4,357 | €224,347 | -€2,151 | -€5,703 | ▼ 165% |
| Operating profit (loss)9901 | -€47,789 | -€31,968 | -€19,094 | €184,723 | -€5,917 | -€6,883 | ▼ 16.3% |
| Financial charges65/66B | - | - | €20,748 | €12,121 | €260 | €8 | ▼ 97.0% |
| Recurring financial charges65 | €13,824 | €20,745 | €20,748 | €12,121 | €260 | €8 | ▼ 97.0% |
| Profit (loss) for the period before taxes9903 | -€61,613 | -€52,713 | -€39,842 | €172,602 | -€6,176 | -€6,891 | ▼ 11.6% |
| Income taxes67/77 | - | - | - | €4,000 | -€65 | €0 | - |
| Profit (loss) for the period9904 | -€61,613 | -€52,713 | -€39,842 | €168,602 | -€6,112 | -€6,891 | ▼ 12.7% |
| Profit (loss) for the period to be appropriated9905 | -€61,613 | -€52,713 | -€39,842 | €168,602 | -€6,112 | -€6,891 | ▼ 12.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €529,510 | €517,109 | €501,856 | €55,425 | €43,495 | €45,145 | ▲ 3.8% |
| Fixed assets21/28 | €521,601 | €510,796 | €499,991 | €1,929 | €1,262 | €595 | ▼ 52.8% |
| Tangible fixed assets22/27 | €521,601 | €510,796 | €499,991 | €1,929 | €1,262 | €595 | ▼ 52.8% |
| Land and buildings22 | - | - | €499,991 | €0 | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €1,929 | €1,262 | €595 | ▼ 52.8% |
| Current assets29/58 | €7,909 | €6,313 | €1,864 | €53,496 | €42,233 | €44,550 | ▲ 5.5% |
| Amounts receivable within one year40/41 | €2,653 | €677 | €870 | €19,628 | €34,153 | €36,329 | ▲ 6.4% |
| Trade receivables40 | - | - | €0 | €272 | €0 | - | - |
| Other amounts receivable41 | - | - | €870 | €19,356 | €34,153 | €36,329 | ▲ 6.4% |
| Cash at bank and in hand54/58 | €4,792 | €5,148 | €293 | €33,868 | €8,080 | €8,220 | ▲ 1.7% |
| Deferred charges and accrued income490/1 | - | - | €702 | €0 | - | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €529,510 | €517,109 | €501,856 | €55,425 | €43,495 | €45,145 | ▲ 3.8% |
| Equity10/15 | -€49,213 | -€101,927 | -€141,769 | €33,033 | €26,921 | €20,031 | ▼ 25.6% |
| Contributions10/11 | €12,400 | - | €12,400 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | - | - | - | €14,433 | €14,433 | €14,433 | = |
| Distributable reserves133 | - | - | - | €14,433 | €14,433 | €14,433 | = |
| Profit (loss) carried forward14 | -€61,613 | -€114,327 | -€154,169 | €0 | -€6,112 | -€13,002 | ▼ 113% |
| Amounts payable17/49 | €578,723 | €619,036 | €643,625 | €22,392 | €16,574 | €25,114 | ▲ 51.5% |
| Amounts payable after more than one year17 | €525,000 | €525,000 | €525,000 | €0 | - | - | - |
| Financial debts170/4 | - | - | €525,000 | €0 | - | - | - |
| Amounts payable within one year42/48 | €53,723 | €92,378 | €106,270 | €7,156 | €3,338 | €11,878 | ▲ 256% |
| Trade debts44 | €15,512 | €716 | €2,943 | €0 | - | €166 | - |
| Suppliers440/4 | - | - | €2,943 | €0 | - | €166 | - |
| Taxes, remuneration and social security45 | - | - | - | €4,000 | €0 | €8,374 | - |
| Taxes450/3 | - | - | - | €4,000 | €0 | €6,374 | - |
| Remuneration and social security454/9 | - | - | - | - | - | €2,000 | - |
| Other amounts payable47/48 | - | - | €103,326 | €3,156 | €3,338 | €3,338 | = |
| Accrued charges and deferred income492/3 | - | - | €12,355 | €15,236 | €13,236 | €13,236 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€61,613 | -€52,713 | -€39,842 | €168,602 | -€6,112 | -€6,891 | ▼ 12.7% |
| + Depreciation and write-downs630 | €26,948 | €10,805 | €10,805 | €71 | €667 | €667 | = |
| Operating cash flow (approximation) | -€34,665 | -€41,909 | -€29,038 | €168,673 | -€5,445 | -€6,224 | ▼ 14.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €497,991 | €0 | €0 | - |
| Change in cash | - | €357 | -€4,855 | €33,575 | -€25,788 | €140 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00031713 | |
| 30-06-2024 | micro format | 17-01-2025 | 2025-00006851 | |
| 30-06-2023 | micro format | 31-12-2023 | 2024-00540594 | |
| 30-06-2022 | micro format | 22-02-2023 | 2023-00031142 | |
| 30-06-2021 | micro format | 30-01-2022 | 2022-04800101 | |
| 30-06-2020 | micro format | 27-01-2021 | 2021-01800529 |
Board & ownership
Directors
Directors
1 director, last change in 2023
VERHAEGHE Gilles
Current
Director (not named in the articles) · in office according to the act of 13-02-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 30-01-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“3. Ingeval er slechts één bestuurder is, zal hij de bovengenoemde machten uitoefenen en kan hij dezelfde bevoegdheidsoverdrachten doen…”
deed of 13-02-2023Owners and capital
Capital transactions
Capital over time
- 13-02-2023 Capital stated in the deed · 186 shares
Articles of association
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Ondernemingsrechtbank bij eenzijdig verzoekschrift artikelen 1025 en volgende Gerechtelijk Wetboek indien niet alle schuldeisers integraal…”
Articles of association, deed of 13-02-2023 (in Dutch)
Network & group
GewELF shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of GewELF. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
30-01
micro format · 1 day before the deadline
2025
17-01
micro format · 14 days before the deadline
2024
13-08
Gazette deed
Registered office moved from Deerlijk to Kortrijk2 points ▸
Gazette deed
Registered office moved from Deerlijk to Kortrijk
2 points ▸
- Registered-office move, O.-L.Vrouwestraat(Kor)2,8500 Kortrijk
- Board meeting, 01-06-2024
2023
31-12
micro format · 31 days before the deadline
30-06
Financial
Back to profitnet €168,602
The net result is €168,602, after 3 loss-making years.
30-06
Financial
Liquidity more than 426 timescurrent ratio 7.48
The current ratio rises from 0.02 to 7.48. Short-term debt falls from €106,270 to €7,156.
22-02
micro format · 22 days late
13-02
Gazette deed
Registered office moved to DeerlijkResignation: VERHAEGHE Gilles (director) · Reappointment: VERHAEGHE Gilles (director) · Amendment of the articles12 points ▸
Gazette deed
Registered office moved to Deerlijk
Resignation: VERHAEGHE Gilles (director) · Reappointment: VERHAEGHE Gilles (director) · Amendment of the articles12 points ▸
- Amendment of the articles, mentioned 2 times in the deed
- Capital
- Other provision, “beschikbare eigen vermogensrekening” (deed in Dutch)
- Director resignation, VERHAEGHE Gilles (director (not named in the articles))
- Director reappointment, VERHAEGHE Gilles (director (not named in the articles))
- Board rule, 1, “niet-statutair bestuurders” (deed in Dutch)
- Registered-office move, 8540 Deerlijk, Breestraat 66
- Other provision, “Gent,afdeling Kortrijk, 8500 Kortrijk,Pervijzestraat 9” (deed in Dutch)
- General meeting, 07-02-2023
- Capital conversion, “TWEEDE BESLUIT, artikel 39,§2,tweede lid wet 2019-03-23” (deed in Dutch)
- Other provision, “verslag-voorstel-voorwerpwijziging, DERDE BESLUIT” (deed in Dutch)
- Purpose change
2022
30-01
micro format · 1 day before the deadline
2021
27-01
micro format · 4 days before the deadline
2019
25-02
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
GewELF in Dutch
Enterprise number
0721.425.820
Legal form
Private limited company
Status
Active, normale toestand
Founded
21-02-2019
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 13-02-2023 (in Dutch)Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 13-02-2023 (in Dutch)Registered office and establishments
Registered office
O.-L.-Vrouwestraat(Kor) 2, 8500 Kortrijk, Belgium
1 former office
- 8540 Deerlijk until 01-06-2024 · act of 13-08-2024
Establishment unit
GewELF, Breestraat 66, 8540 Deerlijk since 21-02-2019 · unit number 2.286.136.87746190 Agents in non-specialised wholesale trade
Activities
NACEBEL 202564210
Activities of holding companies main activity
68201
Renting and operating of own or leased residential real estate, excluding social housing
82100
Office administrative and support services
82990
Other business support services
Codes under NACEBEL 2008
64200
Holdings main activity
68201
Real estate activities
82110
Office administrative, office support and other business support activities
82990
Other business support services
Invoicing and payment
VAT number
BE 0721.425.820
Financial year and general meeting
Accounts at the NBBFinancial year end
30-06
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Friday of December at 11:00
deed of 13-02-2023 (in Dutch)Environmental permits
1 application in Flanders since 2020 · 1 granted
Verbouwen en/of uitbreiden met functiewijziging en met wijziging van aantal woongelegenheden
Source: Omgevingsloket Vlaanderen.
Sites & property
Location
Buildings and parcels at the addresses
Ground area
1,212 m²
Building footprint
684 m²
Building volume
4,086 m³
Tallest building: 12.8 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 34009B0846/00L002 | Flanders | 1,162 m² | 1 · 633 m² | 8.8 m · 2 |
| 34353H0139/00A000 | Flanders | 51 m² | 1 · 51 m² | 12.8 m · 3 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.