GF IMMO
ActiveSummary
GF IMMO has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €245k and a net result of €8k. Equity remains stable across the filed fiscal years (±1.4% per year). Its solvency ranks better than 42% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36▲+4
Solvency48▲+3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 8.93 against 3.01 in 2024; short-term debt: 6% and cash: 0.9% of total assets), but 76.7% of the assets are financed with debt.
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Signals
Six 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 · 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
23.3%
Return on assets
0.7%
Age of the figures
9 mo
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 09-07-2026, 22 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
22 d early
2024
61 d late
2023
51 d late
2022
72 d late
2021
10 d late
2020
19 d late
2019
59 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
26-09-2026 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 How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Roughly what is this company worth?Value indication
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€8k▲ 208%
2024 · €2k
Working capital
€497k▲ 6.5%
2024 · €467k
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€24k▼ 55.0%€-106k€8k€23k▲ 171%€24k▲ 4.3%
Net result€20k▼ 60.9%€-100k€-8k▲ 92.4%€2k€8k▲ 208%
Equity€343k▲ 6.3%€243k▼ 29.1%€235k▼ 3.1%€238k▲ 1.0%€245k▲ 3.2%
Total assets€594k▲ 8.4%€1.19M▲ 99.3%€1.12M▼ 5.6%€1.20M▲ 7.6%€1.05M▼ 12.6%
Debt€180k▲ 16.9%€870k▲ 384%€813k▼ 6.5%€898k▲ 10.4%€741k▼ 17.5%
Working capital€550k▲ 0.8%€55k▼ 90.1%€474k▲ 767%€467k▼ 1.5%€497k▲ 6.5%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 4% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.05M
Fixed assets
€491k ▼ 2.5%
Current assets
€560k ▼ 19.9%
Equity and liabilities €1.05M
Equity
€245k ▲ 3.2%
Provisions
€65k ▼ 3.5%
Debt
€741k ▼ 17.5%
Debt's share of the balance-sheet total falls from 74.6% to 70.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€37k▲
2024 · €36k
Cash flow
€20k▲
2024 · €15k
Current ratio
8.93▲
2024 · 3.01
Quick ratio
1.28▲
2024 · 1.00
Debt to equity
3.02▼
2024 · 3.78
ROE
3.1%▲
2024 · 1.0%
ROA
0.7%▲
2024 · 0.2%
Interest coverage
1.96▲
2024 · 1.57
Debt ≤ 1 year
€63k▼
2024 · €232k
Debt > 1 year
€678k▲
2024 · €666k
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €387 | €13k | €13k | €13k | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €98k | - | - | - | - |
| Other operating charges640/8 | €1k | €2k | €384 | €5k | €4k | ▼ 33.0% |
| Gross operating margin9900 | €25k | €-5k | €22k | €41k | €40k | ▼ 2.0% |
| Operating profit (loss)9901 | €24k | €-106k | €8k | €23k | €24k | ▲ 4.3% |
| Financial income75/76B | €9k | €8k | €2k | - | - | - |
| Recurring financial income75 | €9k | €8k | €2k | - | - | - |
| Financial charges65/66B | €2k | €2k | €21k | €23k | €19k | ▼ 18.1% |
| Recurring financial charges65 | €2k | €2k | €21k | €23k | €19k | ▼ 18.1% |
| Profit (loss) for the period before taxes9903 | €31k | €-100k | €-10k | €75 | €5k | ▲ 6,830% |
| Transfer from deferred taxes780 | - | €72 | €2k | €2k | €2k | = |
| Income taxes67/77 | €11k | €-14 | - | - | - | - |
| Profit (loss) for the period9904 | €20k | €-100k | €-8k | €2k | €8k | ▲ 208% |
| Transfer from tax-exempt reserves789 | - | €215 | €7k | €7k | €7k | = |
| Profit (loss) for the period to be appropriated9905 | €20k | €-99k | €-400 | €10k | €15k | ▲ 53.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €594k | €1.19M | €1.12M | €1.20M | €1.05M | ▼ 12.6% |
| Fixed assets21/28 | - | €530k | €517k | €504k | €491k | ▼ 2.5% |
| Tangible fixed assets22/27 | - | €530k | €517k | €504k | €491k | ▼ 2.5% |
| Land and buildings22 | - | €530k | €517k | €504k | €491k | ▼ 2.5% |
| Current assets29/58 | €594k | €655k | €602k | €699k | €560k | ▼ 19.9% |
| Amounts receivable after more than one year29 | €168k | €118k | - | - | - | - |
| Trade receivables290 | €10k | €10k | - | - | - | - |
| Other amounts receivable291 | €158k | €108k | - | - | - | - |
| Stocks and contracts in progress3 | €419k | €428k | €448k | €467k | €480k | ▲ 2.7% |
| Stocks30/36 | €419k | €428k | €448k | €467k | €480k | ▲ 2.7% |
| Amounts receivable within one year40/41 | €4k | €89k | €72k | €206k | €71k | ▼ 65.7% |
| Trade receivables40 | €1k | €84k | €8k | - | - | - |
| Other amounts receivable41 | €3k | €5k | €64k | €206k | €71k | ▼ 65.7% |
| Cash at bank and in hand54/58 | €3k | €13k | €53k | €19k | €10k | ▼ 49.7% |
| Deferred charges and accrued income490/1 | €172 | €7k | €28k | €7k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €594k | €1.19M | €1.12M | €1.20M | €1.05M | ▼ 12.6% |
| Equity10/15 | €343k | €243k | €235k | €238k | €245k | ▲ 3.2% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | €62k | €62k | = |
| Issued capital100 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €281k | €280k | €273k | €266k | €259k | ▼ 2.7% |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €6k | €6k | = |
| Tax-exempt reserves132 | €216k | €216k | €209k | €202k | €195k | ▼ 3.5% |
| Distributable reserves133 | €58k | €58k | €58k | €58k | €58k | = |
| Profit (loss) carried forward14 | - | €-99k | €-100k | €-90k | €-76k | ▲ 16.3% |
| Provisions and deferred taxes16 | €72k | €72k | €70k | €67k | €65k | ▼ 3.5% |
| Deferred taxes168 | €72k | €72k | €70k | €67k | €65k | ▼ 3.5% |
| Amounts payable17/49 | €180k | €870k | €813k | €898k | €741k | ▼ 17.5% |
| Amounts payable after more than one year17 | €135k | €269k | €682k | €666k | €678k | ▲ 1.9% |
| Financial debts170/4 | €135k | €269k | €682k | €666k | €678k | ▲ 1.9% |
| Amounts payable within one year42/48 | €45k | €601k | €128k | €232k | €63k | ▼ 73.0% |
| Current portion of amounts payable after more than one year42 | - | - | €16k | €20k | €18k | ▼ 11.9% |
| Trade debts44 | €3k | €506k | €2k | €3k | - | - |
| Suppliers440/4 | €3k | €506k | €2k | €3k | - | - |
| Taxes, remuneration and social security45 | €13k | €10k | €656 | €656 | - | - |
| Taxes450/3 | €13k | €10k | €656 | €656 | - | - |
| Other amounts payable47/48 | €29k | €84k | €109k | €209k | €45k | ▼ 78.3% |
| Accrued charges and deferred income492/3 | - | - | €3k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20k | €-100k | €-8k | €2k | €8k | ▲ 208% |
| + Depreciation and write-downs630 | - | €387 | €13k | €13k | €13k | = |
| Operating cash flow (approximation) | €20k | €-99k | €5k | €15k | €20k | ▲ 33.3% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - |
| Change in cash | - | €10k | €40k | €-34k | €-10k | ▲ 71.8% |
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
09-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity triplescurrent ratio 8.93
Current ratio from 3.01 to 8.93; short-term debt falls from €232k to €63k.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
31-12
Financial
Back to profitnet €2k
Net result €2k after 2 loss-making years.
20-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 51 days late
2023
31-12
Financial
Liquidity quadruplescurrent ratio 4.72
Current ratio from 1.09 to 4.72; short-term debt falls from €601k to €128k.
11-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 72 days late
2022
31-12
Financial
Weakest financial yearnet €-100k
Net result drops to €-100k, the lowest in the series; recovery starts the following year.
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 10 days late
2021
19-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 19 days late
2020
31-12
Financial
Liquidity times 9current ratio 178.61
Current ratio from 20.01 to 178.61; short-term debt falls from €26k to €3k.
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 59 days late
Show earlier events
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
19-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 19 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, Braine-l'Alleud · 1 establishment unit since 2003
Ground area
321 m²
Building footprint
185 m²
Volume, LiDAR
1,126 m³
Parcel 25014A0619/02_000, Wallonia · tallest building 11.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
GF IMMO SA
since 20032.126.994.026
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25014A0619/02_000 | Wallonia | 321 m² | 1 · 185 m² | 11.7 m · 2 fl. |
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 7,326 companies in sector 68110 we hold annual accounts for 5,385. 3,853 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded11-12-2002
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
Scores and ratios are computed by Checked and are not a credit decision.