GEXHAM
ActiveSummary
GEXHAM has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €384,954 and a net result of €100,740. Equity is growing by ~48.1% per year across the filed fiscal years. Its solvency ranks better than 68% of 4613 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability89▲+13
Solvency86▲+11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 3.26 against 1.63 in 2024; short-term debt: 11.8% and cash: 25% of total assets), and 38.6% of the assets are financed with debt.
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Show the recommended maximum : and 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
61.4%
Return on assets
16.1%
Age of the figures
18 mo
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 · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-11-2025, 30 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 · 7 filingsDeviation from the deadline
2025
30 d late
2024
30 d late
2023
30 d late
2022
30 d late
2021
3 d late
2020
30 d late
2019
29 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 26 days after 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 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 30 November (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close28-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€100,740▲ 187%
2024 · €35,042
Working capital
€166,928▲ 205%
2024 · €54,663
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€49,840▼ 44.5%€111,489▲ 124%€159,767▲ 43.3%€55,544▼ 65.2%€155,068▲ 179%
Net result€27,838within the sector's middle half▼ 63.3%€80,655within the sector's middle half▲ 190%€102,832within the sector's middle half▲ 27.5%€35,042within the sector's middle half▼ 65.9%€100,740within the sector's middle half▲ 187%
Equity€65,685within the sector's middle half▲ 73.6%€146,340within the sector's middle half▲ 123%€249,172within the sector's middle half▲ 70.3%€284,214within the sector's middle half▲ 14.1%€384,954within the sector's middle half▲ 35.4%
Total assets€583,512below the sector's middle half▼ 4.2%€553,570below the sector's middle half▼ 5.1%€557,537below the sector's middle half▲ 0.7%€565,774below the sector's middle half▲ 1.5%€626,884below the sector's middle half▲ 10.8%
Debt€478,827▼ 16.2%€382,230▼ 20.2%€308,365▼ 19.3%€281,560▼ 8.7%€241,930▼ 14.1%
Working capital-€123,480within the sector's middle half▲ 37.3%-€56,389within the sector's middle half▲ 54.3%€11,984within the sector's middle half€54,663within the sector's middle half▲ 356%€166,928within the sector's middle half▲ 205%
Solvency11.3%within the sector's middle half▲ 5.0pp26.4%within the sector's middle half▲ 15.2pp44.7%within the sector's middle half▲ 18.3pp50.2%within the sector's middle half▲ 5.5pp61.4%within the sector's middle half▲ 11.2pp
Current ratio0.41below the sector's middle half▲ 0.120.60within the sector's middle half▲ 0.191.13within the sector's middle half▲ 0.531.63within the sector's middle half▲ 0.503.26within the sector's middle half▲ 1.63
Return on assets (ROA)4.8%within the sector's middle half▼ 7.7pp14.6%above the sector's middle half▲ 9.8pp18.4%above the sector's middle half▲ 3.9pp6.2%above the sector's middle half▼ 12.3pp16.1%above the sector's middle half▲ 9.9pp
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
The operating result recovers in 2025; 2025 is 179% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €626,884
Fixed assets
€386,039 ▼ 8.9%
Current assets
€240,846 ▲ 69.7%
Equity and liabilities €626,884
Equity
€384,954 ▲ 35.4%
Debt
€241,930 ▼ 14.1%
Debt's share of the balance-sheet total falls from 49.8% to 38.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€196,075▲
2024 · €96,075
Cash flow
€141,747▲
2024 · €75,574
Debt to equity
0.63▼
2024 · 0.99
ROE
26.2%▲
2024 · 12.3%
Interest coverage
54.28▲
2024 · 16.24
Debt ≤ 1 year
€73,917▼
2024 · €87,288
Debt > 1 year
€168,013▼
2024 · €192,048
Income taxes
€52,632▲
2024 · €15,396
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,810 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 97% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
3.1%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% 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 17,810 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,756 | €40,335 | €42,002 | €40,531 | €41,007 | ▲ 1.2% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€14,000 | -€25,000 | - | - | - |
| Other operating charges640/8 | - | €5,247 | €6,006 | €7,059 | €5,679 | ▼ 19.5% |
| Gross operating margin9900 | €132,471 | €143,071 | €182,776 | €103,134 | €201,754 | ▲ 95.6% |
| Operating profit (loss)9901 | €49,840 | €111,489 | €159,767 | €55,544 | €155,068 | ▲ 179% |
| Financial income75/76B | - | - | - | €810 | €1,916 | ▲ 136% |
| Recurring financial income75 | - | - | - | €810 | €1,916 | ▲ 136% |
| Financial charges65/66B | - | €6,204 | €6,265 | €5,916 | €3,612 | ▼ 38.9% |
| Recurring financial charges65 | €11,816 | €6,204 | €6,265 | €5,916 | €3,612 | ▼ 38.9% |
| Profit (loss) for the period before taxes9903 | €38,024 | €105,286 | €153,502 | €50,438 | €153,372 | ▲ 204% |
| Income taxes67/77 | €10,186 | €24,631 | €50,670 | €15,396 | €52,632 | ▲ 242% |
| Profit (loss) for the period9904 | €27,838 | €80,655 | €102,832 | €35,042 | €100,740 | ▲ 187% |
| Profit (loss) for the period to be appropriated9905 | €27,838 | €80,655 | €102,832 | €35,042 | €100,740 | ▲ 187% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €583,512 | €553,570 | €557,537 | €565,774 | €626,884 | ▲ 10.8% |
| Fixed assets21/28 | €497,120 | €468,332 | €452,896 | €423,824 | €386,039 | ▼ 8.9% |
| Tangible fixed assets22/27 | €497,120 | €468,332 | €452,896 | €423,824 | €386,039 | ▼ 8.9% |
| Land and buildings22 | - | €378,912 | €379,982 | €357,882 | €333,056 | ▼ 6.9% |
| Furniture and vehicles24 | - | €5,747 | €1,966 | €4,688 | €6,396 | ▲ 36.4% |
| Other tangible fixed assets26 | - | €83,674 | €70,949 | €61,255 | €46,586 | ▼ 23.9% |
| Current assets29/58 | €86,392 | €85,238 | €104,641 | €141,950 | €240,846 | ▲ 69.7% |
| Amounts receivable within one year40/41 | €6,377 | €6,657 | €10,836 | €83,189 | €83,920 | ▲ 0.9% |
| Trade receivables40 | - | €6,657 | €10,836 | €47,302 | €48,621 | ▲ 2.8% |
| Other amounts receivable41 | - | - | - | €35,887 | €35,300 | ▼ 1.6% |
| Cash at bank and in hand54/58 | €80,015 | €78,581 | €93,805 | €58,761 | €156,925 | ▲ 167% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €583,512 | €553,570 | €557,537 | €565,774 | €626,884 | ▲ 10.8% |
| Equity10/15 | €65,685 | €146,340 | €249,172 | €284,214 | €384,954 | ▲ 35.4% |
| Contributions10/11 | - | €18,600 | €18,600 | €20,460 | €20,460 | = |
| Reserves13 | - | €1,860 | €101,860 | €135,000 | €235,000 | ▲ 74.1% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | €100,000 | €135,000 | €235,000 | ▲ 74.1% |
| Profit (loss) carried forward14 | €45,225 | €125,880 | €128,712 | €128,754 | €129,494 | ▲ 0.6% |
| Provisions and deferred taxes16 | €39,000 | €25,000 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | €25,000 | - | - | - | - |
| Major repairs and maintenance162 | - | €25,000 | - | - | - | - |
| Amounts payable17/49 | €478,827 | €382,230 | €308,365 | €281,560 | €241,930 | ▼ 14.1% |
| Amounts payable after more than one year17 | €261,929 | €239,000 | €215,708 | €192,048 | €168,013 | ▼ 12.5% |
| Financial debts170/4 | - | €239,000 | €215,708 | €192,048 | €168,013 | ▼ 12.5% |
| Amounts payable within one year42/48 | €209,872 | €141,627 | €92,657 | €87,288 | €73,917 | ▼ 15.3% |
| Current portion of amounts payable after more than one year42 | - | €22,929 | €23,292 | €23,660 | €24,035 | ▲ 1.6% |
| Trade debts44 | €22,251 | €25,586 | €16,185 | €466 | €10,493 | ▲ 2,151% |
| Suppliers440/4 | - | €25,586 | €16,185 | €466 | €10,493 | ▲ 2,151% |
| Taxes, remuneration and social security45 | - | €11,319 | €27,152 | €15,500 | €33,000 | ▲ 113% |
| Taxes450/3 | - | €11,319 | €27,152 | €15,500 | €33,000 | ▲ 113% |
| Other amounts payable47/48 | - | €81,793 | €26,029 | €47,661 | €6,390 | ▼ 86.6% |
| Accrued charges and deferred income492/3 | - | €1,603 | - | €2,225 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,838 | €80,655 | €102,832 | €35,042 | €100,740 | ▲ 187% |
| + Depreciation and write-downs630 | €39,756 | €40,335 | €42,002 | €40,531 | €41,007 | ▲ 1.2% |
| Operating cash flow (approximation) | €67,594 | €120,990 | €144,834 | €75,574 | €141,747 | ▲ 87.6% |
| Investment in fixed assets (approximation) | - | -€11,547 | -€26,567 | -€11,459 | -€3,221 | ▲ 71.9% |
| Change in cash | - | -€1,435 | €15,224 | -€35,044 | €98,164 | ▲ 380% |
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
2025
30-11
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 30 days late
31-03
Financial
Liquidity doublescurrent ratio 3.26
Current ratio from 1.63 to 3.26; short-term debt falls from €87,288 to €73,917.
2024
30-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 30 days late
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
31-03
Financial
Highest result since 2019net €102,832 ▲27.5%
Operating result €159,767, net result €102,832, both a record.
31-03
Financial
Equity above €200,000Eq €249,172 ▲70.3%
5 profitable years in a row build equity to €249,172.
2022
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
31-03
Financial
Equity above €100,000Eq €146,340 ▲123%
4 profitable years in a row build equity to €146,340.
2021
03-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 3 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 30 days late
2019
29-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 29 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, Liège · 1 establishment unit since 2014
Ground area
556 m²
Building footprint
185 m²
Volume, LiDAR
1,918 m³
2 parcels, Wallonia · tallest building 18.2 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Allée des Barbeaux 5, 4920 Aywaille
since 20142.231.775.604
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62098I0203/00R006 | Wallonia | 422 m² | 1 · 99 m² | 6.3 m · 2 fl. |
| 62805B0314/00D004 ProtectedMonument · Site or landscape |
Wallonia | 134 m² | 1 · 86 m² | 18.2 m · 6 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 1,530 companies in sector 68322 we hold annual accounts for 745. 492 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
Founded19-04-2014
Fiscal year end31-03
Activities, NACEBEL 2025
68322Real estate appraisal on a fee or contract basis
71111Activities of building architects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0550768770
Also
9925:BE0550768770
Registered
16-07-2025
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.