Equity
-€77,217
Debts exceed assets in financial year 2025.
GHEURY
Lifetime
20 annual accounts with figures on one time axis, 25 filings since 2001peak €228,300 (2021)
€107,921▲ 196%
lowest -€171,403 (2024)
€2,330▲ €173,733
peak €481,473 (2021)
-€77,217▲ €2,330
€354,964▼ 12.7%
peak 3 FTE (2009)
-not published
Board1 name since 2000
1 directorRaphaël GHEURY
Documentsfilings and deeds
30-10-202691 days late
2025micro format
Gross margin from €36,416 to €107,921Back to profit: €2,330Cash from €13,342 to €30,243
Key points
from the 2025 annual accountsResult
€2,330 €2,330
Back in profit in 2025, after a loss of €171,403 in 2024.
Turnover
≈ €540,000 estimated
The accounts state no turnover.
Debts
€354,964 128% of the balance sheet
Financial debts 23%Suppliers 39%Taxes and wages 30%Other 8%
Of this, €273,391 falls due within a year.
Filings
25 annual accounts 91 days
Latest accounts filed late: after the legal deadline.
Position in the sector
-€77,217
Less equity than 93% of companies in wholesale trade. Sector median €56,491 · 13,830 companies.
Checked score
54
Fair
Financially stronger than 27% of micro companies in wholesale trade (NACE 46)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
1.1% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.2%
01-2025: 2.2%● unchanged vs 12-2024
02-2025: 1.1%▼ -1.1 percentage points vs 01-2025
03-2025: 1.1%● unchanged vs 02-2025
04-2025: 1.1%● unchanged vs 03-2025
05-2025: 1.1%● unchanged vs 04-2025
06-2025: 1.1%● unchanged vs 05-2025lowest value
07-2025: 1.2%▲ +0.1 percentage points vs 06-2025
08-2025: 1.7%▲ +0.5 percentage points vs 07-2025
09-2025: 1.8%▲ +0.1 percentage points vs 08-2025
10-2025: 2.3%▲ +0.5 percentage points vs 09-2025
11-2025: 3.6%▲ +1.3 percentage points vs 10-2025highest value
12-2025: 3.6%● unchanged vs 11-2025
01-2026: 3.5%▼ -0.1 percentage points vs 12-2025
02-2026: 3.5%● unchanged vs 01-2026
03-2026: 3.4%▼ -0.1 percentage points vs 02-2026
04-2026: 3.4%● unchanged vs 03-2026
05-2026: 3.2%▼ -0.2 percentage points vs 04-2026
06-2026: 3.2%● unchanged vs 05-2026
07-2026: 3.2%● unchanged vs 06-2026
08-2026: 3.6%▲ +0.4 percentage points vs 07-2026
09-2026: 3.5%▼ -0.1 percentage points vs 08-2026
10-2026: 1.1%▼ -2.4 percentage points vs 09-2026
11-2026: 1.1%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Capped at 59: negative equity
Last filed accounts filed 91 days late; 3 of the last 3 accounts late
Negative equity -€77,217
lowers risk
Founded in 2000
Size: total assets €277,747
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 46, micro). It does better than 6% of them on solvency, 14% on liquidity, 37% on profitability and 50% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% 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, 1,449 companies had the same profile as GHEURY has now. Each dot stands for 4 companies, two years later.
92.2%
were still trading
4.8%
stopped another way
2.5%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GHEURY itself: 1.1% within 12 months.
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 1,449 companies, not a prediction for GHEURY. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.72 (0.83 in 2024), below 1. Short-term debt is 98.4% and cash 10.9% of total assets. Equity is negative.
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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 · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 13800 sector peers (2025).
NBB · sector comparisonPosition among 13800 sector peers
Solvency
better than 14%
← weakest
strongest →
raises risk · 2025 accounts filed 91 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-10-2026, 91 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 · 10 filingsDeviation from the deadline
2025
91 days late
2024
92 days late
2023
61 days late
2022
61 days late
2021
16 days late
2020
25 days late
2019
31 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 54 days after the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 1 October (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0472989717
Registered-office move
Director in office: Raphaël GHEURY · General meeting of 05-12-2022 · Gazette deed
First establishment
Rue des Theysses 1, Héron
Incorporation
published on 18-10-2000 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GHEURY Ohey | €277,747 | €107,921 | -27.8% | - |
| EIBKON Sint-Pieters-Leeuw | €328,184 | €108,782 | 57.0% | - |
| SWITCH LIGHTING STORE Malmedy | €403,300 | €95,503 | -21.2% | 4.1 |
| TERSEC Aalter | €177,222 | €114,968 | 25.7% | - |
| DOMOTECHNOLOGY Herentals | €326,047 | €181,026 | 37.6% | - |
| COMPAGNY FOR THE IMPROVEMENT OF PRODUCTION Genappe | €212,037 | €75,230 | 81.3% | - |
| DELTA REFRIGERATION Herstal | €448,167 | €132,353 | 96.3% | - |
These companies have the same main activity as GHEURY: wholesale of electrical equipment, including installation materials (NACE 46643). They are comparable in size and age: total assets between €177,000 and €448,000, founded between 1997 and 2002.
Official details
Source: KBO- Status
- Active since 10-10-2000Normal situation
- Activity
- Wholesale of electrical equipment, including installation materialsNACE 46643and 1 other
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.094.059.6554218 Héron, since 17-10-2000
- Financial year end
- 31 December
- Peppol
- Reachable since 23-10-2025
Insights on GHEURY
GHEURY files the micro format. That format states no turnover. The gross margin fell from €151,853 in 2006 to €107,921 in 2025.
The balance sheet grew most from 2007 to 2009 through fixed assets.
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 GHEURY
- What is the company number of GHEURY?
- The company number of GHEURY is 0472.989.717. The VAT number is the same number with BE in front: BE 0472.989.717.
- Where is GHEURY based?
- The registered office is at Rue Saint-Mort 38, 5351 Ohey.Company details
- What does GHEURY do?
- According to the KBO register, the main activity is wholesale of electrical equipment, including installation materials (NACE 46643).
- What is the legal form of GHEURY?
- GHEURY is a private limited company (pre-2019) (BVBA).
- When was GHEURY founded?
- GHEURY was founded on 10-10-2000.
- Is GHEURY still active?
- Yes, GHEURY is an active enterprise in the KBO register.
- How many employees does GHEURY have?
- GHEURY had an average of 1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does GHEURY fall under?
- In its 2025 annual accounts, GHEURY states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of GHEURY?
- The turnover in financial year 2025 is ≈ €540,000. This figure is estimated from the gross margin of €107,921 and 59 comparable companies (NACE 46). It probably lies between €260,000 and €990,000.
- Is GHEURY profitable?
- In financial year 2025, GHEURY made a profit of €2,330.
- Where can I find the annual accounts of GHEURY?
- GHEURY filed 25 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of GHEURY due?
- GHEURY must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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