GEWI
ActiveSummary
GEWI has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €298,077 and a net result of -€13,300. Equity is growing by ~9.6% per year across the filed fiscal years. Its solvency ranks better than 65% of 10519 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability39▼-9
Solvency76▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity ample (current ratio 1.87 against 1.77 in 2024; short-term debt: 37.8% and cash: 2.1% of total assets), and 48.6% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
41 d early
2023
20 d early
2022
8 d late
2021
2 d early
2020
4 d early
2019
33 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 11 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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 12 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€298,077▼ 4.3%
2024 · €311,378
Total assets
€580,261▼ 4.0%
2024 · €604,489
Net result
-€13,300▼ 3,522%
2024 · -€367
Working capital
€192,032▼ 11.8%
2024 · €217,713
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€122,882▲ 105%€25,612▼ 79.2%€7,459▼ 70.9%€13,928▲ 86.7%-€1,422
Net result€86,606within the sector's middle half▲ 105%€12,857within the sector's middle half▼ 85.2%-€2,342below the sector's middle half-€367below the sector's middle half▲ 84.3%-€13,300below the sector's middle half▼ 3,522%
Equity€301,230within the sector's middle half▲ 40.4%€314,087within the sector's middle half▲ 4.3%€311,745within the sector's middle half▼ 0.7%€311,378within the sector's middle half▼ 0.1%€298,077within the sector's middle half▼ 4.3%
Total assets€566,837within the sector's middle half▼ 10.6%€606,193within the sector's middle half▲ 6.9%€577,591within the sector's middle half▼ 4.7%€604,489within the sector's middle half▲ 4.7%€580,261within the sector's middle half▼ 4.0%
Debt€265,607▼ 36.6%€292,106▲ 10.0%€265,846▼ 9.0%€293,112▲ 10.3%€282,184▼ 3.7%
Working capital€146,548within the sector's middle half▲ 9.2%€183,899within the sector's middle half▲ 25.5%€202,099within the sector's middle half▲ 9.9%€217,713within the sector's middle half▲ 7.7%€192,032within the sector's middle half▼ 11.8%
Solvency53.1%within the sector's middle half▲ 19.3pp51.8%within the sector's middle half▼ 1.3pp54.0%within the sector's middle half▲ 2.2pp51.5%within the sector's middle half▼ 2.5pp51.4%within the sector's middle half▼ 0.1pp
Current ratio1.55within the sector's middle half▲ 0.221.63within the sector's middle half▲ 0.081.81within the sector's middle half▲ 0.181.77within the sector's middle half▼ 0.031.87within the sector's middle half▲ 0.10
Return on assets (ROA)15.3%above the sector's middle half▲ 8.6pp2.1%within the sector's middle half▼ 13.2pp-0.4%below the sector's middle half▼ 2.5pp-0.1%below the sector's middle half▲ 0.3pp-2.3%below the sector's middle half▼ 2.2pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €1,422 after €13,928 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €580,261
Fixed assets
€168,759 ▲ 61.7%
Current assets
€411,502 ▼ 17.7%
Equity and liabilities €580,261
Equity
€298,077 ▼ 4.3%
Debt
€282,184 ▼ 3.7%
Debt's share of the balance-sheet total rises from 48.5% to 48.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€28,205▼
2024 · €39,273
Cash flow
€16,326▼
2024 · €24,978
Quick ratio
0.14▼
2024 · 0.43
Debt to equity
0.95▲
2024 · 0.94
ROE
-4.5%▼
2024 · -0.1%
Interest coverage
2.81▼
2024 · 3.54
Debt ≤ 1 year
€219,471▼
2024 · €282,394
Debt > 1 year
€62,713▲
2024 · €10,718
Income taxes
€3,455▼
2024 · €6,563
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,688 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
0.5%
went bankrupt
5.4%
stopped otherwise
94%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,662 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% | 1.7% |
| 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 75% 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 2,688 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,987 | - | - | - | €8,075 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,931 | €26,903 | €27,246 | €25,345 | €29,627 | ▲ 16.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€7,899 | - | - |
| Other operating charges640/8 | €1,474 | €1,749 | €1,480 | €1,441 | €1,199 | ▼ 16.8% |
| Non-recurring operating charges66A | - | - | - | €27 | - | - |
| Gross operating margin9900 | €142,287 | €54,264 | €36,185 | €32,842 | €29,404 | ▼ 10.5% |
| Operating profit (loss)9901 | €122,882 | €25,612 | €7,459 | €13,928 | -€1,422 | ▼ 110% |
| Financial income75/76B | €9,206 | €3,016 | €3,417 | €3,363 | €1,603 | ▼ 52.3% |
| Recurring financial income75 | €9,206 | €3,016 | €3,417 | €3,363 | €1,603 | ▼ 52.3% |
| Financial charges65/66B | €8,458 | €6,456 | €9,159 | €11,095 | €10,026 | ▼ 9.6% |
| Recurring financial charges65 | €8,458 | €6,445 | €9,149 | €11,090 | €10,026 | ▼ 9.6% |
| Non-recurring financial charges66B | - | €11 | €10 | €5 | - | - |
| Profit (loss) for the period before taxes9903 | €123,630 | €22,171 | €1,717 | €6,195 | -€9,845 | ▼ 259% |
| Income taxes67/77 | €37,024 | €9,315 | €4,060 | €6,563 | €3,455 | ▼ 47.3% |
| Profit (loss) for the period9904 | €86,606 | €12,857 | -€2,342 | -€367 | -€13,300 | ▼ 3,522% |
| Profit (loss) for the period to be appropriated9905 | €86,606 | €12,857 | -€2,342 | -€367 | -€13,300 | ▼ 3,522% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €566,837 | €606,193 | €577,591 | €604,489 | €580,261 | ▼ 4.0% |
| Fixed assets21/28 | €155,651 | €130,188 | €124,481 | €104,382 | €168,759 | ▲ 61.7% |
| Tangible fixed assets22/27 | €155,651 | €130,188 | €124,481 | €104,382 | €168,759 | ▲ 61.7% |
| Land and buildings22 | €7,433 | €5,330 | €3,226 | €1,315 | €455 | ▼ 65.4% |
| Plant, machinery and equipment23 | €11,856 | €6,157 | €17,328 | €17,521 | €15,976 | ▼ 8.8% |
| Furniture and vehicles24 | €136,362 | €118,701 | €103,926 | €85,547 | €152,328 | ▲ 78.1% |
| Current assets29/58 | €411,186 | €476,005 | €453,110 | €500,107 | €411,502 | ▼ 17.7% |
| Stocks and contracts in progress3 | €307,584 | €405,577 | €358,013 | €377,948 | €381,361 | ▲ 0.9% |
| Stocks30/36 | €307,584 | €405,577 | €358,013 | €377,948 | €381,361 | ▲ 0.9% |
| Amounts receivable within one year40/41 | €19,539 | €9,625 | €17,030 | €9,819 | €12,133 | ▲ 23.6% |
| Other amounts receivable41 | €19,539 | €9,625 | €17,030 | €9,819 | €12,133 | ▲ 23.6% |
| Cash at bank and in hand54/58 | €80,237 | €56,551 | €73,463 | €107,737 | €12,019 | ▼ 88.8% |
| Deferred charges and accrued income490/1 | €3,826 | €4,252 | €4,604 | €4,604 | €5,990 | ▲ 30.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €566,837 | €606,193 | €577,591 | €604,489 | €580,261 | ▼ 4.0% |
| Equity10/15 | €301,230 | €314,087 | €311,745 | €311,378 | €298,077 | ▼ 4.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €101,860 | €114,717 | €114,717 | €114,717 | €114,717 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €100,000 | €112,857 | €112,857 | €112,857 | €112,857 | = |
| Profit (loss) carried forward14 | €193,170 | €193,170 | €190,828 | €190,461 | €177,161 | ▼ 7.0% |
| Amounts payable17/49 | €265,607 | €292,106 | €265,846 | €293,112 | €282,184 | ▼ 3.7% |
| Amounts payable after more than one year17 | €969 | - | €14,835 | €10,718 | €62,713 | ▲ 485% |
| Financial debts170/4 | €969 | - | €14,835 | €10,718 | €62,713 | ▲ 485% |
| Amounts payable within one year42/48 | €264,638 | €292,106 | €251,011 | €282,394 | €219,471 | ▼ 22.3% |
| Current portion of amounts payable after more than one year42 | €64,645 | €51,941 | €53,943 | €54,117 | €18,823 | ▼ 65.2% |
| Financial debts43 | - | €25,000 | €25,000 | €25,000 | - | - |
| Credit institutions430/8 | - | €25,000 | €25,000 | €25,000 | - | - |
| Trade debts44 | €44,511 | €60,653 | €39,882 | €68,475 | €61,869 | ▼ 9.6% |
| Suppliers440/4 | €44,511 | €60,653 | €39,882 | €68,475 | €61,869 | ▼ 9.6% |
| Taxes, remuneration and social security45 | €33,072 | €30,637 | €9,130 | €11,543 | €12,229 | ▲ 5.9% |
| Taxes450/3 | €33,072 | €30,637 | €9,130 | €11,543 | €12,229 | ▲ 5.9% |
| Other amounts payable47/48 | €122,410 | €123,875 | €123,056 | €123,258 | €126,550 | ▲ 2.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €86,606 | €12,857 | -€2,342 | -€367 | -€13,300 | ▼ 3,522% |
| + Depreciation and write-downs630 | €17,931 | €26,903 | €27,246 | €25,345 | €29,627 | ▲ 16.9% |
| Operating cash flow (approximation) | €104,537 | €39,760 | €24,904 | €24,978 | €16,326 | ▼ 34.6% |
| Investment in fixed assets (approximation) | - | -€1,440 | -€21,539 | -€5,247 | -€94,003 | ▼ 1,692% |
| Change in cash | - | -€23,686 | €16,912 | €34,273 | -€95,717 | ▼ 379% |
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
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€13,300
Net result drops to -€13,300, the lowest in the series.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 8 days late
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €86,606 ▲105%
Operating result €122,882, net result €86,606, both a record.
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €200,000Eq €214,624 ▲24.4%
3 profitable years in a row build equity to €214,624.
02-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 33 days late
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Koksijde · 1 establishment unit since 2012
Ground area
1,633 m²
Building footprint
702 m²
Volume, LiDAR
3,285 m³
2 parcels, Flanders · tallest building 9.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Absolutely golf & Fashion
since 20122.205.898.576
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38001C0404/00R003 | Flanders | 1,540 m² | 1 · 609 m² | 5.6 m · 2 fl. |
| 38343A0557/00A000 | Flanders | 93 m² | 1 · 93 m² | 9.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,314 companies in sector 47639 we hold annual accounts for 624. 461 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
Founded11-01-2012
Fiscal year end31-12
Activities, NACEBEL 2025
47639Retail sale of other sporting goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0842616927
Also
9925:BE0842616927
Registered
17-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.