GF CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of GF CONSTRUCT is 2.2% (moderate). The 2025 annual accounts show equity of €17k and a net result of €596. Equity is shrinking by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 41% of 7500 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability66▼-34
Solvency61▼-25
Growth32=
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity ample (current ratio 1.74 against 2.38 in 2024; short-term debt: 34.2% and cash: 28.2% of total assets), but 64.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
2122232425
2021 to 2025 · latest year €17k
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 · 5 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
28 d late
2022
30 d late
2021
29 d late
← before the deadline
after the deadline →
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
25-09-2026 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 Hiring this company for building work? Recognition, activities and what to check first.Contractor check Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Financials · fiscal year 2025, micro schema
Equity
€17k▲ 3.7%
2024 · €16k
Total assets
€47k▲ 75.4%
2024 · €27k
Net result
€596▼ 95.9%
2024 · €14k
Working capital
€12k▼ 18.1%
2024 · €15k
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€27k-€4k▼ 85.4%€-23k€15k€1k▼ 93.2%
Net result€18k-€2k▼ 90.2%€-23k€14k€596▼ 95.9%
Equity€23k-€25k▲ 7.7%€2k▼ 92.5%€16k▲ 756%€17k▲ 3.7%
Total assets€85k-€109k▲ 28.1%€36k▼ 66.9%€27k▼ 25.7%€47k▲ 75.4%
Debt€62k-€84k▲ 35.8%€34k▼ 59.2%€11k▼ 69.1%€30k▲ 186%
Working capital€20k-€23k▲ 13.6%€-562€15k€12k▼ 18.1%
Staff (FTE)2.6-3.7▲ 42.3%2.4▼ 35.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 93% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €47k
Fixed assets
€19k ▲ 1,002%
Current assets
€28k ▲ 11.6%
Equity and liabilities €47k
Equity
€17k ▲ 3.7%
Debt
€30k ▲ 186%
Debt's share of the balance-sheet total rises from 39.4% to 64.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€4k▼
2024 · €16k
Cash flow
€3k▼
2024 · €15k
Current ratio
1.74▼
2024 · 2.38
Quick ratio
1.70▼
2024 · 2.18
Debt to equity
1.79▲
2024 · 0.65
ROE
3.5%▼
2024 · 88.3%
ROA
1.3%▼
2024 · 53.6%
Interest coverage
5.46▼
2024 · 29.29
Debt ≤ 1 year
€16k▲
2024 · €11k
Debt > 1 year
€14k
Income taxes
€184▼
2024 · €244
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €22k | €14k | - | - |
| Remuneration, social security and pensions62 | €134k | €196k | €134k | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €11k | €7k | €602 | €3k | ▲ 333% |
| Other operating charges640/8 | €3k | €1k | €1k | €3k | €2k | ▼ 45.1% |
| Non-recurring operating charges66A | €4k | - | - | - | - | - |
| Gross operating margin9900 | €178k | €212k | €120k | €19k | €5k | ▼ 72.0% |
| Operating profit (loss)9901 | €27k | €4k | €-23k | €15k | €1k | ▼ 93.2% |
| Financial income75/76B | €20 | €7 | €100 | €0 | €412 | ▲ 89,465% |
| Recurring financial income75 | €20 | €7 | €100 | €0 | €412 | ▲ 89,465% |
| Financial charges65/66B | €955 | €620 | €570 | €538 | €667 | ▲ 23.9% |
| Recurring financial charges65 | €955 | €620 | €570 | €538 | €667 | ▲ 23.9% |
| Profit (loss) for the period before taxes9903 | €26k | €3k | €-23k | €15k | €780 | ▼ 94.7% |
| Income taxes67/77 | €8k | €2k | €218 | €244 | €184 | ▼ 24.7% |
| Profit (loss) for the period9904 | €18k | €2k | €-23k | €14k | €596 | ▼ 95.9% |
| Profit (loss) for the period to be appropriated9905 | €18k | €2k | €-23k | €14k | €596 | ▼ 95.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €85k | €109k | €36k | €27k | €47k | ▲ 75.4% |
| Fixed assets21/28 | €21k | €12k | €6k | €2k | €19k | ▲ 1,002% |
| Tangible fixed assets22/27 | €21k | €12k | €6k | €2k | €19k | ▲ 1,168% |
| Plant, machinery and equipment23 | €14k | €8k | €2k | €2k | €14k | ▲ 829% |
| Furniture and vehicles24 | €7k | €4k | €4k | - | €5k | - |
| Financial fixed assets28 | €225 | €225 | €225 | €225 | - | - |
| Current assets29/58 | €64k | €97k | €30k | €25k | €28k | ▲ 11.6% |
| Stocks and contracts in progress3 | €15k | €32k | €10k | €2k | €680 | ▼ 66.7% |
| Stocks30/36 | - | €7k | €5k | €2k | €680 | ▼ 66.7% |
| Contracts in progress37 | €15k | €25k | €5k | - | - | - |
| Amounts receivable within one year40/41 | €22k | €18k | €12k | €5k | €12k | ▲ 137% |
| Trade receivables40 | €17k | €300 | €7k | €3k | €7k | ▲ 166% |
| Other amounts receivable41 | €5k | €18k | €6k | €2k | €4k | ▲ 98.2% |
| Cash at bank and in hand54/58 | €26k | €44k | €2k | €16k | €13k | ▼ 15.6% |
| Deferred charges and accrued income490/1 | €2k | €2k | €5k | €2k | €2k | ▼ 1.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €85k | €109k | €36k | €27k | €47k | ▲ 75.4% |
| Equity10/15 | €23k | €25k | €2k | €16k | €17k | ▲ 3.7% |
| Contributions10/11 | €5k | €5k | €5k | €5k | €5k | = |
| Reserves13 | €18k | €18k | €18k | €18k | €18k | = |
| Distributable reserves133 | €18k | €18k | €18k | €18k | €18k | = |
| Profit (loss) carried forward14 | - | €2k | €-22k | €-7k | €-7k | ▲ 8.3% |
| Amounts payable17/49 | €62k | €84k | €34k | €11k | €30k | ▲ 186% |
| Amounts payable after more than one year17 | €17k | €9k | €1k | - | €14k | - |
| Financial debts170/4 | €17k | €9k | €1k | - | €14k | - |
| Amounts payable within one year42/48 | €44k | €74k | €30k | €11k | €16k | ▲ 52.5% |
| Current portion of amounts payable after more than one year42 | €8k | €8k | €8k | €1k | €6k | ▲ 379% |
| Trade debts44 | €3k | €43k | €8k | €5k | €6k | ▲ 23.0% |
| Suppliers440/4 | €3k | €43k | €8k | €5k | €6k | ▲ 23.0% |
| Taxes, remuneration and social security45 | €25k | €23k | €14k | €4k | €3k | ▼ 6.2% |
| Taxes450/3 | €11k | €13k | €13k | €3k | €3k | ▲ 5.7% |
| Remuneration and social security454/9 | €13k | €10k | €1k | €412 | - | - |
| Other amounts payable47/48 | €8k | €379 | €508 | €563 | €332 | ▼ 41.1% |
| Accrued charges and deferred income492/3 | €1k | €1k | €3k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18k | €2k | €-23k | €14k | €596 | ▼ 95.9% |
| + Depreciation and write-downs630 | €10k | €11k | €7k | €602 | €3k | ▲ 333% |
| Operating cash flow (approximation) | €29k | €12k | €-16k | €15k | €3k | ▼ 78.6% |
| Investment in fixed assets (approximation) | - | €-2k | €-2k | €4k | €-20k | ▼ 580% |
| Change in cash | - | €19k | €-42k | €14k | €-2k | ▼ 118% |
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 · micro schema · 31 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Back to profitnet €14k
Net result €14k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 2.38
Current ratio from 0.98 to 2.38; short-term debt falls from €30k to €11k.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Weakest financial yearnet €-23k
Net result drops to €-23k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, La Louvière · 1 establishment unit since 2021
Ground area
835 m²
Building footprint
145 m²
Parcel 55038C0328/00X002, Wallonia. Linked by address, not a title deed.
1 establishment unit
GF construction SRL
since 20212.311.382.217
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55038C0328/00X002 | Wallonia | 835 m² | 1 · 145 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.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,039. 11,055 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
Founded18-12-2020
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
68121Development of residential building projects
43110Demolition
43310Plastering work
43320Joinery installation
43422Screed work
Contact
E-mail
francois.guillaume@hotmail.comLa Louvière
Phone
+32494375990La Louvière
Scores and ratios are computed by Checked and are not a credit decision.