GFC CONSTRUCT
ActiveSummary
GFC CONSTRUCT has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €34k and a net result of €6k. Equity is growing by ~8.4% per year across the filed fiscal years. Its solvency ranks better than 59% of 36375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability66▲+10
Solvency80▲+32
Growth60▼-8
Track record100
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 2.18 against 1.29 in 2023; short-term debt: 45.3% and cash: 38.5% of total assets), and 45.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
54.7%
Return on assets
9.6%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-06-2025, 31 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
31 d early
2023
47 d late
2022
31 d early
2021
34 d early
2020
33 d early
2019
9 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€271k▼ 29.8%
2023 · €387k
2019: €150klowest in 6 years
2020: €360k▲ +140% vs 2019
2021: €292k▼ -18.9% vs 2020
2022: €299k▲ +2.5% vs 2021
2023: €387k▲ +29.4% vs 2022highest in 6 years
2024: €271k▼ -29.8% vs 2023
2019 → 2024
EBIT margin
4.4%▲ 3.6pp
2023 · 0.8%
2019: 1.8%
2020: 0.4%▼ -75.0% vs 2019lowest in 6 years
2021: 1.3%▲ +197% vs 2020
2022: 1.1%▼ -13.1% vs 2021
2023: 0.8%▼ -26.8% vs 2022
2024: 4.4%▲ +425% vs 2023highest in 6 years
2019 → 2024
Net result
€6k▲ 174%
2023 · €2k
2018: €39khighest in 7 years
2019: €843▼ -97.9% vs 2018
2020: €626▼ -25.8% vs 2019lowest in 7 years
2021: €2k▲ +184% vs 2020
2022: €2k▲ +18.8% vs 2021
2023: €2k▲ +3.0% vs 2022
2024: €6k▲ +174% vs 2023
2018 → 2024
Working capital
€33k▲ 22.2%
2023 · €27k
2018: €19k
2019: €12k▼ -34.0% vs 2018lowest in 7 years
2020: €14k▲ +15.3% vs 2019
2021: €16k▲ +13.2% vs 2020
2022: €22k▲ +33.2% vs 2021
2023: €27k▲ +26.9% vs 2022
2024: €33k▲ +22.2% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€360k-€292k▼ 18.9%€299k▲ 2.5%€387k▲ 29.4%€271k▼ 29.8%
2020: €360k
2021: €292k▼ -18.9% vs 2020
2022: €299k▲ +2.5% vs 2021
2023: €387k▲ +29.4% vs 2022highest in 5 years
2024: €271k▼ -29.8% vs 2023lowest in 5 years
Equity€22k-€24k▲ 8.1%€26k▲ 8.9%€28k▲ 8.4%€34k▲ 21.2%
2020: €22klowest in 5 years
2021: €24k▲ +8.1% vs 2020
2022: €26k▲ +8.9% vs 2021
2023: €28k▲ +8.4% vs 2022
2024: €34k▲ +21.2% vs 2023highest in 5 years
Operating result€2k-€4k▲ 141%€3k▼ 10.9%€3k▼ 5.3%€12k▲ 269%
2020: €2klowest in 5 years
2021: €4k▲ +141% vs 2020
2022: €3k▼ -10.9% vs 2021
2023: €3k▼ -5.3% vs 2022
2024: €12k▲ +269% vs 2023highest in 5 years
Net result€626-€2k▲ 184%€2k▲ 18.8%€2k▲ 3.0%€6k▲ 174%
2020: €626lowest in 5 years
2021: €2k▲ +184% vs 2020
2022: €2k▲ +18.8% vs 2021
2023: €2k▲ +3.0% vs 2022
2024: €6k▲ +174% vs 2023highest in 5 years
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 2024; 2024 is 269% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €62k
Fixed assets
€731 ▼ 11.9%
Current assets
€62k ▼ 49.8%
Equity and liabilities €62k
Equity
€34k ▲ 21.2%
Debt
€28k ▼ 70.4%
Debt's share of the balance-sheet total falls from 77.2% to 45.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€12k▲
2023 · €7k
Cash flow
€6k▲
2023 · €6k
Current ratio
2.18▲
2023 · 1.29
Debt to equity
0.83▼
2023 · 3.39
ROE
17.5%▲
2023 · 7.7%
ROA
9.6%▲
2023 · 1.8%
Interest coverage
22.85▼
2023 · 24.65
Debt ≤ 1 year
€28k▼
2023 · €95k
Income taxes
€2k▲
2023 · €779
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 · 2024 against 2023 · 42 lines
Balance sheet
Code20232024
Assets
Total assets20/58€124k€62k▼
Fixed assets21/28€830€731▼
Tangible fixed assets22/27€330€231▼
Plant, machinery and equipment23€330€231▼
Financial fixed assets28€500€500=
Current assets29/58€123k€62k▼
Amounts receivable within one year40/41€87k€34k▼
Trade receivables40€87k€33k▼
Other amounts receivable41-€2k
Cash at bank and in hand54/58€1k€24k▲
Deferred charges and accrued income490/1€35k€3k▼
Equity and liabilities
Total equity and liabilities10/49€124k€62k▼
Equity10/15€28k€34k▲
Contributions10/11€8k€8k=
Profit (loss) carried forward14€20k€26k▲
Amounts payable17/49€95k€28k▼
Amounts payable within one year42/48€95k€28k▼
Current portion of amounts payable after more than one year42€452-
Financial debts43€5k€1k▼
Credit institutions430/8€5k€1k▼
Trade debts44€76k€20k▼
Suppliers440/4€58k€15k▼
Bills of exchange payable441€19k€6k▼
Taxes, remuneration and social security45€3k€2k▼
Taxes450/3€2k€2k▼
Remuneration and social security454/9€900-
Other amounts payable47/48€10k€4k▼
Income statement
Code20232024
Turnover70€387k€271k▼
Goods, raw materials, services and sundry goods60/61€379k€258k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€99▼
Other operating charges640/8€739€1k▲
Gross operating margin9900€8k€13k▲
Operating profit (loss)9901€3k€12k▲
Financial charges65/66B€278€4k▲
Recurring financial charges65€278€526▲
Non-recurring financial charges66B-€3k
Profit (loss) for the period before taxes9903€3k€8k▲
Income taxes67/77€779€2k▲
Profit (loss) for the period9904€2k€6k▲
Profit (loss) for the period to be appropriated9905€2k€6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€20k€26k▲
Profit (loss) brought forward from the previous period14P€18k€20k▲
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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €360k | €292k | €299k | €387k | €271k | ▼ 29.8% |
| Goods, raw materials, services and sundry goods60/61 | - | €274k | €282k | €379k | €258k | ▼ 31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €13k | €13k | €4k | €99 | ▼ 97.3% |
| Other operating charges640/8 | - | €743 | €474 | €739 | €1k | ▲ 80.3% |
| Gross operating margin9900 | €15k | €17k | €17k | €8k | €13k | ▲ 75.9% |
| Operating profit (loss)9901 | €2k | €4k | €3k | €3k | €12k | ▲ 269% |
| Financial income75/76B | - | - | €0 | - | - | - |
| Recurring financial income75 | €781 | - | €0 | - | - | - |
| Financial charges65/66B | - | €722 | €548 | €278 | €4k | ▲ 1,223% |
| Recurring financial charges65 | €993 | €722 | €548 | €278 | €526 | ▲ 89.3% |
| Non-recurring financial charges66B | - | - | - | - | €3k | - |
| Profit (loss) for the period before taxes9903 | €1k | €3k | €3k | €3k | €8k | ▲ 179% |
| Income taxes67/77 | €755 | €1k | €753 | €779 | €2k | ▲ 193% |
| Profit (loss) for the period9904 | €626 | €2k | €2k | €2k | €6k | ▲ 174% |
| Profit (loss) for the period to be appropriated9905 | €626 | €2k | €2k | €2k | €6k | ▲ 174% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €84k | €80k | €83k | €124k | €62k | ▼ 49.5% |
| Fixed assets21/28 | €29k | €17k | €4k | €830 | €731 | ▼ 11.9% |
| Tangible fixed assets22/27 | €29k | €16k | €4k | €330 | €231 | ▼ 29.9% |
| Plant, machinery and equipment23 | - | - | €429 | €330 | €231 | ▼ 29.9% |
| Furniture and vehicles24 | - | €16k | €4k | - | - | - |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €55k | €63k | €79k | €123k | €62k | ▼ 49.8% |
| Amounts receivable within one year40/41 | €52k | €56k | €38k | €87k | €34k | ▼ 60.2% |
| Trade receivables40 | - | €55k | €38k | €87k | €33k | ▼ 62.0% |
| Other amounts receivable41 | - | €1k | - | - | €2k | - |
| Cash at bank and in hand54/58 | €1k | €4k | €38k | €1k | €24k | ▲ 1,844% |
| Deferred charges and accrued income490/1 | - | €3k | €3k | €35k | €3k | ▼ 91.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €84k | €80k | €83k | €124k | €62k | ▼ 49.5% |
| Equity10/15 | €22k | €24k | €26k | €28k | €34k | ▲ 21.2% |
| Contributions10/11 | - | €6k | €6k | €8k | €8k | = |
| Reserves13 | €2k | €2k | €2k | - | - | - |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Profit (loss) carried forward14 | €14k | €16k | €18k | €20k | €26k | ▲ 29.7% |
| Amounts payable17/49 | €62k | €56k | €57k | €95k | €28k | ▼ 70.4% |
| Amounts payable after more than one year17 | €21k | €9k | - | - | - | - |
| Financial debts170/4 | - | €9k | - | - | - | - |
| Amounts payable within one year42/48 | €41k | €47k | €57k | €95k | €28k | ▼ 70.4% |
| Current portion of amounts payable after more than one year42 | - | €12k | €9k | €452 | - | - |
| Financial debts43 | - | - | - | €5k | €1k | ▼ 73.4% |
| Credit institutions430/8 | - | - | - | €5k | €1k | ▼ 73.4% |
| Trade debts44 | €25k | €34k | €43k | €76k | €20k | ▼ 73.4% |
| Suppliers440/4 | - | €31k | €35k | €58k | €15k | ▼ 74.5% |
| Bills of exchange payable441 | - | €3k | €8k | €19k | €6k | ▼ 69.9% |
| Taxes, remuneration and social security45 | - | €779 | €6k | €3k | €2k | ▼ 29.8% |
| Taxes450/3 | - | €779 | €5k | €2k | €2k | ▼ 2.9% |
| Remuneration and social security454/9 | - | - | €830 | €900 | - | - |
| Other amounts payable47/48 | - | €176 | - | €10k | €4k | ▼ 58.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €626 | €2k | €2k | €2k | €6k | ▲ 174% |
| + Depreciation and write-downs630 | €13k | €13k | €13k | €4k | €99 | ▼ 97.3% |
| Operating cash flow (approximation) | €14k | €14k | €15k | €6k | €6k | ▲ 4.7% |
| Investment in fixed assets (approximation) | - | €0 | €-493 | €0 | €0 | - |
| Change in cash | - | €3k | €34k | €-37k | €23k | ▲ 161% |
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
2026
10-09
State Gazette act
Resignation: DSUDSURA MARIA (director)Appointment: DSUDSURA GHEORGHE (director) · Share transfer4 facts ▸
State Gazette act
Resignation: DSUDSURA MARIA (director)
Appointment: DSUDSURA GHEORGHE (director) · Share transfer4 facts ▸
- General meeting, 20-08-2026
- Director resignation, DSUDSURA MARIA (director)
- Director appointment, DSUDSURA GHEORGHE (director)
- Share transfer, DSUDSURA MARIA → DSUDSURA GHEORGHE
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 47 days late
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €626 ▼25.8%
Net result drops to €626, the lowest in the series; recovery starts the following year.
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
03-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 64 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
DSUDSURA GHEORGHE
CurrentDirector · since 10-09-2026
10-09-2026
DSUDSURA GHEORGHE: Appointed as Director
10-09-2026
DSUDSURA MARIA: Resigned as Director
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Le Roeulx · 1 establishment unit since 2017
Ground area
1,532 m²
Building footprint
101 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
GFC CONSTRUCT
since 20172.278.745.081
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 55035A0054/02R000 | Wallonia | 1,373 m² | - | - |
| 55024C0395/00T000 | Wallonia | 159 m² | 1 · 101 m² | - |
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.
Structure & network
Capital and shareholders
Shareholders according to the acts
Share transfer
act of 10-09-2026 ↗
- DSUDSURA MARIA to DSUDSURA GHEORGHE 5 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,420. 5,802 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
Founded11-10-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
43240Other construction installation
43320Joinery installation
43350Other building finishing work
Scores and ratios are computed by Checked and are not a credit decision.