Active BE 0806.931.221Private limited company

GGX

Ter Voort 268 ·2260 Westerlo, Belgium· 17 yrs active

Sector: Other tax advisory services (69209)

Conclusion Checked

GGX has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €327k and a net result of €94k. Equity is growing by ~28.7% per year across the filed fiscal years. Its solvency ranks better than 70% of 204 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€327k
Net result	€94k
Better than sector	70%
Active	17 yrs

Financial profile 5 of 5 axes measured · computed by Checked

85 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 96

Profitability 100

Solvency 76

Growth 52

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.1% Very low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2008, 17 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

96 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€30k

estimate, not credit advice

Score history

58 2023

61 2024

96 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 1.05 (≥ 1.0) +5

Quick ratio Quick ratio 1.05 (≥ 1.0) +5

Leverage Debt/equity 0.79 (< 1.0) +10

Profitability ROE 29% (≥ 10%) +10

Interest coverage Interest coverage 12.2× (≥ 3×) +8

Profit trend Net profit up YoY +5

Equity growth Equity growing YoY +3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview16 NBB filings

Annual accounts filed on 23-12-2025 with the NBB · fiscal year 2025 · abbreviated schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~28.7%/year over 3 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 69, Legal and accounting activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	55.8%	23.6%	better than 70% of 204 sector peers
Net result	€94k	€169k	better than 35% of 204 sector peers
Equity	€327k	€195k	better than 61% of 204 sector peers
Gross operating margin	€96k	€579k	better than 22% of 204 sector peers
Total assets	€586k	€1.38M	better than 29% of 204 sector peers

EBITDA

€91k

+35.9% 23-25

Net profit

€94k

+27.0% 23-25

Cash flow

€98k

+25.0% 23-25

Total assets

€586k

+3.6% 23-25

Equity

€327k

+32.8% 23-25

Working capital

€7k

- 23-25

Staff costs

€202

- 23-25

Income taxes

€31k

+46.1% 23-25

Dividends

€13k

-0.8% 23-25

Debt

€259k

-19.0% 23-25

Debt ≤ 1y

€127k

-1.6% 23-25

Debt > 1y

€131k

-31.2% 23-25

Current ratio

1.05

+19.8% 23-25

Quick ratio

1.05

+19.8% 23-25

Solvency

55.8%

+28.2% 23-25

Debt / equity

0.79

-39.0% 23-25

ROE

28.8%

-4.4% 23-25

ROA

16.1%

+22.6% 23-25

Interest coverage

12.21

+62.4% 23-25

Figures by fiscal year and ratios

Highlight YoY changes (±10%)

Fiscal year	2025	2024	2023
Deposit	abbreviated schema	abbreviated schema	abbreviated schema
Revenue	-	-	-
EBITDA	€91k	€67k	€100k
Net profit	€94k	€74k	€106k
Cash flow	€98k	€78k	€111k
Staff costs	-	-	€202
Income taxes	€31k	€21k	€34k
Dividends	€13k	€14k	€15k
Total assets	€586k	€566k	€575k
Equity	€327k	€246k	€186k
Debt	€259k	€319k	€389k
of which ≤ 1y	€127k	€129k	€139k
of which > 1y	€131k	€191k	€250k
Working capital	€7k	€-15k	€-16k
Employees (FTE)	-	-	-

Ratios (computed)

	2025	2024	2023
Current ratio	1.05	0.88	0.88
Quick ratio	1.05	0.88	0.88
Working capital ratio	1.2%	-2.7%	-2.8%
Solvency	55.8%	43.5%	32.3%
Debt / equity	0.79	1.30	2.09
Long-term debt ratio	0.40	0.77	1.35
Interest coverage	12.21	7.52	12.29
Gross margin	-	-	-
Net margin	-	-	-
ROA	16.1%	13.1%	18.5%
ROE	28.8%	30.1%	57.3%
EBITDA margin	-	-	-
Days sales outstanding	-	-	-
Days payable outstanding	-	-	-
Inventory turnover	-	-	-
Days inventory (DSI)	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €453k · 77.2% Current assets €133k · 22.8%

Equity & liabilities

Equity €327k · 55.8% Debt €259k · 44.2%

Full annual accounts (23 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€586k	€566k	€575k
Fixed assets	21/28	€453k	€453k	€452k
Tangible fixed assets	22/27	€71k	€71k	€70k
Financial fixed assets	28	€382k	€382k	€382k
Current assets	29/58	€133k	€113k	€123k
Amounts receivable within one year	40/41	€26k	€48k	€65k
Cash & bank	54/58	€102k	€63k	€55k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€586k	€566k	€575k
Equity	10/15	€327k	€246k	€186k
Contributions / capital	10/11	€6k	€6k	€6k
Reserves	13	€321k	€240k	€180k
Amounts payable	17/49	€259k	€319k	€389k
Amounts payable after one year	17	€131k	€191k	€250k
Amounts payable within one year	42/48	€127k	€129k	€139k
Trade debts payable within one year	44	€1k	€3k	€1k
Income statement
Gross operating margin	9900	€96k	€68k	€101k
Operating result	9901	€87k	€63k	€95k
Financial income	75	€46k	€42k	€53k
Financial charges	65	€7k	€9k	€8k
Result before taxes	9903	€125k	€95k	€140k
Income taxes	67/77	€31k	€21k	€34k
Net result for the period	9904	€94k	€74k	€106k
Result to be appropriated	9905	€94k	€74k	€106k

Legal Structure

NACE primary	Other tax advisory services(69209)
Legal form	Private limited company(610)
Incorporation	06-10-2008
Status	Active
Postal code	2260

Establishment units 1 location

GGX

Ter Voort 268, 2260 WesterloWholesale trade

since 20122.216.622.224

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
13039A0109/00E000	Flanders	488 m²	1 · 101 m²	6.4 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 13Financial 2Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-01-2027

2025

23-12

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

19-01

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

30-06

Financial Weakest financial yearnet €74k ▼30.2%

Net result drops to €74k, the lowest in the series; recovery starts the following year.

30-06

Financial Equity above €200kEq €246k ▲32.7%

2 profitable years in a row build equity to €246k.

04-01

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

12-12

State Gazette act Capital & shares

Bieke Heyns

2022

29-12

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2021

29-12

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2020

29-12

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2019

19-12

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

24-01

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

27-01

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

15-01

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 3 acts read

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.

Belgisch Staatsblad, acts 1 acts

Capital history · 1

12-12-2023

Capital change

All acts · 1 updated 2 years ago

2023

12-12-2023 All shares are now held by a single shareholder Capital & shares·Bieke Heyns

Notary: Bieke Heyns · Herentals

Original publication ↗

Technical details

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  "notary": {
    "name": "Bieke Heyns",
    "firm_city": null,
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    "is_associated": false
  },
  "act_meta": {
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    "filing_date": "2023-12-08",
    "act_kind_objet": "Onderwerp akte:"
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  "decision": {
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  "bedrijfsrevisor": null,
  "subject_company": {
    "kbo": "0806.931.221",
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  "co_filed_documents": [],
  "shareholders_after": [],
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}

Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Accountants69201Other tax advisory services69209

Names & trade names

Legal nameNL

GGX

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