GFAC
ActiveSummary
GFAC has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €166k and a net result of €15k. Equity is growing by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 83% of 524 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability44▼-8
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days acceptable
Liquidity ample (current ratio 9.6 against 7.7 in 2024; short-term debt: 8.9% and cash: 75.1% of total assets), and 9.4% of the assets are financed with debt.
Credit check for your own amount and term
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 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% 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
90.6%
Return on assets
8%
Age of the figures
9 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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-06-2026, 60 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
60 d early
2024
50 d early
2023
42 d early
2022
28 d early
2021
41 d early
2020
45 d early
2019
39 d early
← 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
Financials · fiscal year 2025, micro schema
Equity
€166k▲ 9.7%
2024 · €151k
2018: €83klowest in 8 years
2019: €110k▲ +32.0% vs 2018
2020: €138k▲ +25.3% vs 2019
2021: €130k▼ -5.7% vs 2020
2022: €116k▼ -10.9% vs 2021
2023: €131k▲ +13.4% vs 2022
2024: €151k▲ +15.2% vs 2023
2025: €166k▲ +9.7% vs 2024highest in 8 years
2018 → 2025
Total assets
€183k▲ 4.1%
2024 · €176k
2018: €94klowest in 8 years
2019: €130k▲ +38.5% vs 2018
2020: €146k▲ +12.3% vs 2019
2021: €139k▼ -4.9% vs 2020
2022: €155k▲ +11.9% vs 2021
2023: €150k▼ -3.5% vs 2022
2024: €176k▲ +17.8% vs 2023
2025: €183k▲ +4.1% vs 2024highest in 8 years
2018 → 2025
Net result
€15k▼ 26.6%
2024 · €20k
2018: €11k
2019: €39k▲ +265% vs 2018highest in 8 years
2020: €28k▼ -28.1% vs 2019
2021: €-8k▼ -128% vs 2020lowest in 8 years
2022: €3k▲ +135% vs 2021
2023: €16k▲ +459% vs 2022
2024: €20k▲ +28.7% vs 2023
2025: €15k▼ -26.6% vs 2024
2018 → 2025
Working capital
€140k▲ 15.0%
2024 · €122k
2018: €76klowest in 8 years
2019: €121k▲ +58.0% vs 2018
2020: €137k▲ +13.4% vs 2019
2021: €130k▼ -5.2% vs 2020
2022: €116k▼ -10.7% vs 2021
2023: €130k▲ +12.8% vs 2022
2024: €122k▼ -6.4% vs 2023
2025: €140k▲ +15.0% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€130k-€116k▼ 10.9%€131k▲ 13.4%€151k▲ 15.2%€166k▲ 9.7%
2021: €130k
2022: €116k▼ -10.9% vs 2021lowest in 5 years
2023: €131k▲ +13.4% vs 2022
2024: €151k▲ +15.2% vs 2023
2025: €166k▲ +9.7% vs 2024highest in 5 years
Operating result€37k-€57k▲ 53.4%€59k▲ 4.1%€58k▼ 0.9%€61k▲ 4.6%
2021: €37klowest in 5 years
2022: €57k▲ +53.4% vs 2021
2023: €59k▲ +4.1% vs 2022
2024: €58k▼ -0.9% vs 2023
2025: €61k▲ +4.6% vs 2024highest in 5 years
Net result€-8k-€3k€16k▲ 459%€20k▲ 28.7%€15k▼ 26.6%
2021: €-8klowest in 5 years
2022: €3k▲ +135% vs 2021
2023: €16k▲ +459% vs 2022
2024: €20k▲ +28.7% vs 2023highest in 5 years
2025: €15k▼ -26.6% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 5% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €183k
Fixed assets
€27k ▼ 25.5%
Current assets
€157k ▲ 11.7%
Equity and liabilities €183k
Equity
€166k ▲ 9.7%
Debt
€17k ▼ 30.1%
Debt's share of the balance-sheet total falls from 14.0% to 9.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€70k▲
2024 · €67k
Cash flow
€24k▼
2024 · €28k
Current ratio
9.60▲
2024 · 7.70
Debt to equity
0.10▼
2024 · 0.16
ROE
8.8%▼
2024 · 13.2%
ROA
8.0%▼
2024 · 11.4%
Interest coverage
1.78▼
2024 · 2.33
Debt ≤ 1 year
€16k▼
2024 · €18k
Debt > 1 year
€944▼
2024 · €6k
Income taxes
€7k▼
2024 · €10k
Staff costs
€12k▲
2024 · €12k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€176k€183k▲
Fixed assets21/28€36k€27k▼
Tangible fixed assets22/27€36k€27k▼
Furniture and vehicles24€36k€27k▼
Current assets29/58€140k€157k▲
Amounts receivable within one year40/41€14k€19k▲
Trade receivables40€14k€16k▲
Other amounts receivable41€0€3k▲
Cash at bank and in hand54/58€127k€138k▲
Equity and liabilities
Total equity and liabilities10/49€176k€183k▲
Equity10/15€151k€166k▲
Contributions10/11€6k€6k=
Reserves13€61k€75k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€60k€73k▲
Profit (loss) carried forward14€84k€85k▲
Amounts payable17/49€25k€17k▼
Amounts payable after more than one year17€6k€944▼
Financial debts170/4€6k€944▼
Amounts payable within one year42/48€18k€16k▼
Current portion of amounts payable after more than one year42€5k€6k▲
Trade debts44€287€635▲
Suppliers440/4€287€635▲
Taxes, remuneration and social security45€9k€10k▲
Taxes450/3€9k€10k▲
Other amounts payable47/48€3k€244▼
Income statement
Code20242025
Non-recurring operating income76A€452€0▼
Remuneration, social security and pensions62€12k€12k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€9k▲
Other operating charges640/8€2k€994▼
Gross operating margin9900€81k€83k▲
Operating profit (loss)9901€58k€61k▲
Financial income75/76B€237€552▲
Recurring financial income75€237€552▲
Financial charges65/66B€29k€39k▲
Recurring financial charges65€29k€39k▲
Profit (loss) for the period before taxes9903€30k€22k▼
Income taxes67/77€10k€7k▼
Profit (loss) for the period9904€20k€15k▼
Profit (loss) for the period to be appropriated9905€20k€15k▼
Appropriation of the result
Profit (loss) to be appropriated9906€103k€99k▼
Profit (loss) brought forward from the previous period14P€83k€84k▲
Transfer to equity691/2€19k€13k▼
To other reserves6921€19k€13k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €452 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | €10k | €10k | €12k | €12k | €12k | ▲ 2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €713 | €339 | €272 | €8k | €9k | ▲ 11.3% |
| Other operating charges640/8 | €842 | €851 | €1k | €2k | €994 | ▼ 59.6% |
| Gross operating margin9900 | €48k | €68k | €72k | €81k | €83k | ▲ 3.1% |
| Operating profit (loss)9901 | €37k | €57k | €59k | €58k | €61k | ▲ 4.6% |
| Financial income75/76B | €98 | €0 | €0 | €237 | €552 | ▲ 133% |
| Recurring financial income75 | €98 | €0 | €0 | €237 | €552 | ▲ 133% |
| Financial charges65/66B | €45k | €53k | €36k | €29k | €39k | ▲ 38.1% |
| Recurring financial charges65 | €45k | €53k | €36k | €29k | €39k | ▲ 38.1% |
| Profit (loss) for the period before taxes9903 | €-8k | €4k | €22k | €30k | €22k | ▼ 26.2% |
| Income taxes67/77 | €253 | €736 | €7k | €10k | €7k | ▼ 25.4% |
| Profit (loss) for the period9904 | €-8k | €3k | €16k | €20k | €15k | ▼ 26.6% |
| Profit (loss) for the period to be appropriated9905 | €-8k | €3k | €16k | €20k | €15k | ▼ 26.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €139k | €155k | €150k | €176k | €183k | ▲ 4.1% |
| Fixed assets21/28 | €577 | €238 | €1k | €36k | €27k | ▼ 25.5% |
| Tangible fixed assets22/27 | €577 | €238 | €1k | €36k | €27k | ▼ 25.5% |
| Furniture and vehicles24 | €577 | €238 | €1k | €36k | €27k | ▼ 25.5% |
| Current assets29/58 | €138k | €155k | €149k | €140k | €157k | ▲ 11.7% |
| Amounts receivable within one year40/41 | €16k | €16k | €14k | €14k | €19k | ▲ 40.3% |
| Trade receivables40 | €13k | €16k | €14k | €14k | €16k | ▲ 21.4% |
| Other amounts receivable41 | €2k | €264 | €145 | €0 | €3k | - |
| Cash at bank and in hand54/58 | €122k | €139k | €134k | €127k | €138k | ▲ 8.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €139k | €155k | €150k | €176k | €183k | ▲ 4.1% |
| Equity10/15 | €130k | €116k | €131k | €151k | €166k | ▲ 9.7% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €44k | €27k | €42k | €61k | €75k | ▲ 21.7% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €42k | €25k | €41k | €60k | €73k | ▲ 22.4% |
| Profit (loss) carried forward14 | €80k | €83k | €83k | €84k | €85k | ▲ 1.6% |
| Amounts payable17/49 | €8k | €39k | €18k | €25k | €17k | ▼ 30.1% |
| Amounts payable after more than one year17 | - | - | - | €6k | €944 | ▼ 85.4% |
| Financial debts170/4 | - | - | - | €6k | €944 | ▼ 85.4% |
| Amounts payable within one year42/48 | €8k | €39k | €18k | €18k | €16k | ▼ 10.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €5k | €6k | ▲ 4.4% |
| Trade debts44 | €2k | €2k | €196 | €287 | €635 | ▲ 121% |
| Suppliers440/4 | €2k | €2k | €196 | €287 | €635 | ▲ 121% |
| Taxes, remuneration and social security45 | €6k | €7k | €10k | €9k | €10k | ▲ 4.7% |
| Taxes450/3 | €6k | €7k | €8k | €9k | €10k | ▲ 4.7% |
| Remuneration and social security454/9 | - | - | €2k | - | - | - |
| Other amounts payable47/48 | - | €30k | €8k | €3k | €244 | ▼ 92.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-8k | €3k | €16k | €20k | €15k | ▼ 26.6% |
| + Depreciation and write-downs630 | €713 | €339 | €272 | €8k | €9k | ▲ 11.3% |
| Operating cash flow (approximation) | €-7k | €3k | €16k | €28k | €24k | ▼ 15.6% |
| Investment in fixed assets (approximation) | - | €0 | €-1k | €-43k | €0 | ▲ 100% |
| Change in cash | - | €17k | €-4k | €-8k | €11k | ▲ 243% |
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
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €150kEq €151k ▲15.2%
3 profitable years in a row build equity to €151k.
19-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 8.19
Current ratio from 3.95 to 8.19; short-term debt falls from €39k to €18k.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series; recovery starts the following year.
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
22-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €39k ▲265%
Net result €39k, the highest in the series.
Show earlier events
31-12
Financial
Equity above €100kEq €110k ▲32%
2 profitable years in a row build equity to €110k.
11-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
11-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Beyne-Heusay · 1 establishment unit since 2010
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue Grand'Route 2974610 Beyne-Heusay1 establishment unit
GFAC
since 20102.188.121.644
Recognitions · licences · registrations
Legal Entity Identifier
549300OMI8D3TBZKCO29
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Of 762 companies in sector 72101 we hold annual accounts for 481. 312 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
Founded07-05-2010
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
72101Research and development on biotechnology
71121Engineering and related technical consultancy, excluding land surveyors
71209Other technical testing and analysis
72109Other research and development on natural sciences
73300Public relations and communication consultancy
Scores and ratios are computed by Checked and are not a credit decision.