Equity
€149,035 ▲ 9.9%
GF 3 has made a profit in every financial year since 2017.
GF 3
Lifetime
8 annual accounts with figures on one time axispeak €475,327 (2023)
€464,673▼ 2.2%
peak €98,796 (2021)
€13,422▼ 8.5%
peak €149,035 (2024)
€149,035▲ 9.9%
€987,728▲ 19.0%
peak 8.4 FTE (2018)
-not published
Board5 names since 2021
1 directorLaurent MASSET
Owners
100%GF1 - IMMO
Documentsfilings and deeds
08-12-2025130 days late
2024micro format
Debts from €830,018 to €987,728Investments €422,575Cash from €74,988 to €151,259
Key points
from the 2024 annual accountsTurnover
≈ €1.1m estimated
The accounts state no turnover.
Debts
€987,728 87% of the balance sheet
Financial debts 41%Suppliers 18%Taxes and wages 28%Other 14%
Of this, €594,177 falls due within a year.
Investments
€414,775 14.0 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 984.4% higher than in 2023.
Filings
8 annual accounts 100 days past the deadline
2025 accounts not filed: deadline was 31-07-2026.
Position in the sector
€149,035
More equity than 86% of companies in food and beverage service. Sector median €27,772 · 18,772 companies.
Checked score
49
Fair
Financially stronger than 39% of micro companies in food and beverage service (NACE 56)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
3.8% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 23,796 companies (NACE 56, micro).
About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.5%
01-2025: 2.5%● unchanged vs 12-2024
02-2025: 2.5%● unchanged vs 01-2025
03-2025: 2.5%● unchanged vs 02-2025
04-2025: 2.7%▲ +0.2 percentage points vs 03-2025
05-2025: 3.1%▲ +0.4 percentage points vs 04-2025
06-2025: 3.2%▲ +0.1 percentage points vs 05-2025
07-2025: 3.4%▲ +0.2 percentage points vs 06-2025
08-2025: 4.2%▲ +0.8 percentage points vs 07-2025
09-2025: 5.0%▲ +0.8 percentage points vs 08-2025highest value
10-2025: 3.6%▼ -1.4 percentage points vs 09-2025
11-2025: 3.7%▲ +0.1 percentage points vs 10-2025
12-2025: 4.2%▲ +0.5 percentage points vs 11-2025
01-2026: 1.8%▼ -2.4 percentage points vs 12-2025lowest value
02-2026: 1.8%● unchanged vs 01-2026
03-2026: 1.9%▲ +0.1 percentage points vs 02-2026
04-2026: 1.9%● unchanged vs 03-2026
05-2026: 2.0%▲ +0.1 percentage points vs 04-2026
06-2026: 2.0%● unchanged vs 05-2026
07-2026: 2.2%▲ +0.2 percentage points vs 06-2026
08-2026: 2.4%▲ +0.2 percentage points vs 07-2026
09-2026: 2.7%▲ +0.3 percentage points vs 08-2026
10-2026: 3.8%▲ +1.1 percentage points vs 09-2026
11-2026: 3.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Figures for financial year 2024 (filed on 08-12-2025)
1 financial year not filed after the legal deadline; last filed accounts filed 130 days late; 2 of the last 3 accounts late
Sector: Food and beverage service activities (NACE 56)
lowers risk
Size: total assets €1.1m
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 56, micro). It does better than 36% of them on solvency, 35% on liquidity, 31% on profitability and 56% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2024.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 4,107 companies had the same profile as GF 3 has now. Each dot stands for 11 companies, two years later.
98.0%
were still trading
0.9%
stopped another way
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of GF 3 itself is higher: 3.8% within 12 months. It rests on far more data about GF 3 than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,107 companies, not a prediction for GF 3. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €7,000 on 30-day terms, only on tighter conditions: an expected filing is missing beyond Checked's processing allowance
Liquidity is tight, with a current ratio of 1.02 (1.1 in 2023), below the usual 1.5. Short-term debt is 52.3% and cash 13.3% of total assets. 86.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
raises risk · Annual accounts not filed
The financial year that closed on 31-12-2025 was due at the National Bank by 31-07-2026. Nothing is on record, 100 days later.
NBB · 8 filingsPosition against the passed deadline
31-12-2025 year end31-07-2026 deadline08-11-2026 today
raises risk · 2024 accounts filed 130 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-12-2025, 130 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 8 filingsDeviation from the deadline
2025
not filed
2024
130 days late
2023
61 days late
2022
25 days late
2021
31 days late
2020
30 days late
2019
92 days late
← 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 62 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (1)
Board and ownership
- GF1 - IMMO 100%score 84equity €1.9m (2025) · 2025 annual accounts of GF1 - IMMO
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0653731894
Registered office moved to Nandrin
New registered office: Route du Condroz, 211 à 4550 Nandrin · Previous registered office: Boulevard d'Avroy 134 boite 4 · Resignations: GF INVEST MANAGEMENT SRL (director) and GULDMAN SACHS SRL (director) · General meeting of 28-07-2023 · Gazette deed
2 directors appointed, 2 managers resigning
Resignations: GULDENTOPS (manager) and FRANCHI (manager) · Appointments: GF INVEST MANAGEMENT (director) and GULDMAN SACHS (director) · Permanent representatives: Grégory Franchi and Maxime Guldentops · General meeting of 17-05-2023 · Gazette deed
First establishment
JACOB'S RESTAURANT, Route du Condroz 211, Nandrin
Comparable companies
same main activity, similar in size and ageThese companies have the same main activity as GF 3: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €1m and €1.2m, founded between 2015 and 2017.
Official details
Source: KBO- Status
- Active since 02-05-2016Normal situation
- Activity
- Full-service restaurantsNACE 56111and 1 other
- Establishment unit
- 2.262.728.7974550 Nandrin, since 01-04-2017
- Financial year end
- 31 December
- Peppol
- Reachable since 09-12-2025
Insights on GF 3
GF 3 files the micro format. That format states no turnover. The gross margin rose from €256,164 in 2017 to €464,673 in 2024.
The balance sheet grew most from 2023 to 2024 through fixed assets.
GF1 - IMMO holds all the shares. In 2023, four directors stepped down.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about GF 3
- What is the company number of GF 3?
- The company number of GF 3 is 0653.731.894. The VAT number is the same number with BE in front: BE 0653.731.894.
- Where is GF 3 based?
- The registered office is at Route du Condroz 211, 4550 Nandrin.Company details
- What does GF 3 do?
- According to the KBO register, the main activity is full-service restaurants (NACE 56111).
- What is the legal form of GF 3?
- GF 3 is a private limited company (BV).
- When was GF 3 founded?
- GF 3 was founded on 02-05-2016.
- Is GF 3 still active?
- Yes, GF 3 is an active enterprise in the KBO register.
- How many employees does GF 3 have?
- GF 3 had an average of 7.6 full-time equivalents in financial year 2022, according to the filed annual accounts.Financials
- What is the turnover of GF 3?
- The turnover in financial year 2024 is ≈ €1.1m. This figure is estimated from the gross margin of €464,673 and 41 comparable companies (NACE 56111). It probably lies between €960,000 and €1.3m.
- Is GF 3 profitable?
- In financial year 2024, GF 3 made a profit of €13,422.
- Where can I find the annual accounts of GF 3?
- GF 3 filed 8 annual accounts with the National Bank of Belgium, the latest for financial year 2024.
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