GFisco
ActiveSummary
GFisco has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €43,923 and a net result of -€36,893. Equity is growing by ~18.5% per year across the filed fiscal years. Its solvency ranks better than 23% of 12829 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability10▼-67
Solvency49▼-8
Growth52=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.45 against 1.7 in 2024; short-term debt: 46.8% and cash: 23.1% of total assets), and 76% 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2025Solvency, return and age of the figures
Solvency
24%
Return on assets
-20.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 12829 sector peers (2025).
NBB · sector comparisonPosition among 12829 sector peers
Solvency
better than 23%
← weakest
strongest →
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 06-07-2026, 25 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
25 d early
2024
27 d early
2023
23 d early
2022
42 d early
2021
16 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 27 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
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. Usually files around 6 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€43,923▼ 45.7%
2024 · €80,816
Total assets
€182,754▼ 27.8%
2024 · €253,235
Net result
-€36,893
2024 · €15,954
Working capital
€38,950▼ 35.8%
2024 · €60,651
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€59,655-€47,504▼ 20.4%€42,480▼ 10.6%€26,929▼ 36.6%€36,445▲ 35.3%
Net result€49,591within the sector's middle half-€31,154within the sector's middle half▼ 37.2%€29,117within the sector's middle half▼ 6.5%€15,954within the sector's middle half▼ 45.2%-€36,893below the sector's middle half
Equity€27,091below the sector's middle half-€53,245within the sector's middle half▲ 96.5%€74,862within the sector's middle half▲ 40.6%€80,816within the sector's middle half▲ 8.0%€43,923within the sector's middle half▼ 45.7%
Total assets€162,617within the sector's middle half-€254,433within the sector's middle half▲ 56.5%€235,140within the sector's middle half▼ 7.6%€253,235within the sector's middle half▲ 7.7%€182,754within the sector's middle half▼ 27.8%
Debt€135,526-€201,188▲ 48.4%€160,278▼ 20.3%€172,419▲ 7.6%€138,831▼ 19.5%
Working capital€9,966below the sector's middle half-€27,618within the sector's middle half▲ 177%€58,813within the sector's middle half▲ 113%€60,651within the sector's middle half▲ 3.1%€38,950within the sector's middle half▼ 35.8%
Solvency16.7%below the sector's middle half-20.9%below the sector's middle half▲ 4.3pp31.8%within the sector's middle half▲ 10.9pp31.9%within the sector's middle half▲ 0.1pp24.0%below the sector's middle half▼ 7.9pp
Current ratio1.13below the sector's middle half-1.35within the sector's middle half▲ 0.211.85within the sector's middle half▲ 0.501.70within the sector's middle half▼ 0.141.45within the sector's middle half▼ 0.25
Return on assets (ROA)30.5%above the sector's middle half-12.2%within the sector's middle half▼ 18.3pp12.4%within the sector's middle half▲ 0.1pp6.3%within the sector's middle half▼ 6.1pp-20.2%below the sector's middle half▼ 26.5pp
Staff (FTE)1.6-3.7▲ 131%2.9▼ 21.6%2.8▼ 3.4%2.9▲ 3.6%
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
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 35% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €182,754
Fixed assets
€58,189 ▼ 45.4%
Current assets
€124,565 ▼ 15.1%
Equity and liabilities €182,754
Equity
€43,923 ▼ 45.7%
Debt
€138,831 ▼ 19.5%
Debt's share of the balance-sheet total rises from 68.1% to 76.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€84,816▲
2024 · €73,745
Cash flow
€11,478▼
2024 · €62,770
Debt to equity
3.16▲
2024 · 2.13
ROE
-84.0%▼
2024 · 19.7%
Interest coverage
1.16▼
2024 · 13.36
Debt ≤ 1 year
€85,615▼
2024 · €86,036
Debt > 1 year
€53,216▼
2024 · €84,129
Income taxes
€179▼
2024 · €6,630
Staff costs
€121,166▼
2024 · €143,141
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,133 companies that looked in July 2024 the way this one looks now, 6.4% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
6.4%
went bankrupt
6.6%
stopped otherwise
86%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,133 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €53,829 | €128,203 | €89,370 | €143,141 | €121,166 | ▼ 15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,443 | €35,386 | €40,356 | €46,816 | €48,372 | ▲ 3.3% |
| Other operating charges640/8 | €3,598 | €287 | €1,199 | €924 | €758 | ▼ 18.0% |
| Gross operating margin9900 | €134,526 | €211,379 | €173,404 | €217,810 | €206,741 | ▼ 5.1% |
| Operating profit (loss)9901 | €59,655 | €47,504 | €42,480 | €26,929 | €36,445 | ▲ 35.3% |
| Financial income75/76B | €8 | €19 | €190 | €1,175 | €119 | ▼ 89.9% |
| Recurring financial income75 | €8 | €19 | €190 | €1,175 | €119 | ▼ 89.9% |
| Financial charges65/66B | €1,084 | €2,810 | €3,772 | €5,520 | €73,278 | ▲ 1,228% |
| Recurring financial charges65 | €1,084 | €2,810 | €3,772 | €5,520 | €73,278 | ▲ 1,228% |
| Profit (loss) for the period before taxes9903 | €58,579 | €44,713 | €38,897 | €22,584 | -€36,715 | ▼ 263% |
| Income taxes67/77 | €8,988 | €13,559 | €9,781 | €6,630 | €179 | ▼ 97.3% |
| Profit (loss) for the period9904 | €49,591 | €31,154 | €29,117 | €15,954 | -€36,893 | ▼ 331% |
| Profit (loss) for the period to be appropriated9905 | €49,591 | €31,154 | €29,117 | €15,954 | -€36,893 | ▼ 331% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €162,617 | €254,433 | €235,140 | €253,235 | €182,754 | ▼ 27.8% |
| Fixed assets21/28 | €78,581 | €147,381 | €107,027 | €106,548 | €58,189 | ▼ 45.4% |
| Intangible fixed assets21 | €73,282 | €142,323 | €103,723 | €103,063 | €55,463 | ▼ 46.2% |
| Tangible fixed assets22/27 | €3,399 | €3,116 | €1,360 | €1,532 | €760 | ▼ 50.4% |
| Furniture and vehicles24 | €3,399 | €3,116 | €1,360 | €1,532 | €760 | ▼ 50.4% |
| Financial fixed assets28 | €1,900 | €1,942 | €1,943 | €1,953 | €1,966 | ▲ 0.6% |
| Current assets29/58 | €84,036 | €107,052 | €128,114 | €146,687 | €124,565 | ▼ 15.1% |
| Amounts receivable within one year40/41 | €34,403 | €47,626 | €31,347 | €94,859 | €82,154 | ▼ 13.4% |
| Trade receivables40 | €34,403 | €47,626 | €31,347 | €67,963 | €81,240 | ▲ 19.5% |
| Other amounts receivable41 | - | - | - | €26,895 | €914 | ▼ 96.6% |
| Cash at bank and in hand54/58 | €47,214 | €57,862 | €77,186 | €47,682 | €42,135 | ▼ 11.6% |
| Deferred charges and accrued income490/1 | €2,419 | €1,564 | €19,581 | €4,146 | €276 | ▼ 93.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €162,617 | €254,433 | €235,140 | €253,235 | €182,754 | ▼ 27.8% |
| Equity10/15 | €27,091 | €53,245 | €74,862 | €80,816 | €43,923 | ▼ 45.7% |
| Contributions10/11 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Reserves13 | - | €26,154 | €26,154 | €26,154 | €26,154 | = |
| Distributable reserves133 | - | €26,154 | €26,154 | €26,154 | €26,154 | = |
| Profit (loss) carried forward14 | €25,591 | €25,591 | €47,208 | €53,162 | €16,269 | ▼ 69.4% |
| Amounts payable17/49 | €135,526 | €201,188 | €160,278 | €172,419 | €138,831 | ▼ 19.5% |
| Amounts payable after more than one year17 | €60,741 | €121,483 | €88,256 | €84,129 | €53,216 | ▼ 36.7% |
| Financial debts170/4 | €60,741 | €121,483 | €88,256 | €84,129 | €53,216 | ▼ 36.7% |
| Amounts payable within one year42/48 | €74,070 | €79,434 | €69,301 | €86,036 | €85,615 | ▼ 0.5% |
| Current portion of amounts payable after more than one year42 | €20,248 | €35,324 | €35,762 | €44,800 | €33,335 | ▼ 25.6% |
| Trade debts44 | €2,922 | €3,169 | €7,615 | €15,913 | €5,392 | ▼ 66.1% |
| Suppliers440/4 | €1,745 | €3,169 | €7,365 | €15,501 | €4,454 | ▼ 71.3% |
| Bills of exchange payable441 | €1,177 | - | €250 | €412 | €938 | ▲ 128% |
| Taxes, remuneration and social security45 | €25,894 | €34,826 | €17,685 | €25,323 | €13,697 | ▼ 45.9% |
| Taxes450/3 | €16,182 | €19,249 | €4,957 | €6,199 | - | - |
| Remuneration and social security454/9 | €9,712 | €15,578 | €12,729 | €19,125 | €13,697 | ▼ 28.4% |
| Other amounts payable47/48 | €25,006 | €6,115 | €8,237 | - | €33,190 | - |
| Accrued charges and deferred income492/3 | €715 | €271 | €2,721 | €2,253 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,591 | €31,154 | €29,117 | €15,954 | -€36,893 | ▼ 331% |
| + Depreciation and write-downs630 | €17,443 | €35,386 | €40,356 | €46,816 | €48,372 | ▲ 3.3% |
| Operating cash flow (approximation) | €67,034 | €66,540 | €69,473 | €62,770 | €11,478 | ▼ 81.7% |
| Investment in fixed assets (approximation) | - | -€104,186 | -€2 | -€46,337 | -€12 | ▲ 100.0% |
| Change in cash | - | €10,648 | €19,323 | -€29,503 | -€5,548 | ▲ 81.2% |
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
State Gazette act
Resignation: DESCY IMMO (director)Permanent representative: Séverine Descy3 facts ▸
State Gazette act
Resignation: DESCY IMMO (director)
Permanent representative: Séverine Descy3 facts ▸
- General meeting, 08-07-2026
- Director resignation, DESCY IMMO (director)
- Permanent representative, Séverine Descy (permanent representative)
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€36,893
Net result drops to -€36,893, the lowest in the series.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
1 of this company's 2 Belgian State Gazette acts has 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, Gembloux · 1 establishment unit since 2021
Ground area
6,706 m²
Building footprint
141 m²
2 parcels, Wallonia. Linked by address, not a title deed.
1 establishment unit
Gecofisca
since 20212.311.815.054
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25084C0363/00B000 | Wallonia | 6,207 m² | - | - |
| 92056B0012/00M000 | Wallonia | 499 m² | 1 · 141 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.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DESCY IMMO |
|
Recognitions · licences · registrations
Legal Entity Identifier
254900TNWAJT0JZDF459
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Of 12,174 companies in sector 69201 we hold annual accounts for 7,641. 5,761 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
Founded13-01-2021
Fiscal year end31-12
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
Contact
E-mail
info@gecofisca.com
Phone
081/58.08.54
E-invoicing
Reachable via Peppol
Peppol ID
0208:0761532548
Also
9925:BE0761532548
Registered
10-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.