GHLM
ActiveGHLM has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €60k and a net result of €-17k. Equity is shrinking by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 34% of 56 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
17
/ 100
Critical▼ -26 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-41
Solvency28▼-18
Growth32▼-20
Stability100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.22 against 1.34 in 2024), and 81.6% of the assets are financed with debt.
Credit advice 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 32
Relative position
BE, all sectors
reference
Sector 32
lower
← 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 2025Solvency, return and age of the figures
Solvency
18.4%
Return on assets
-5.1%
Age of the figures
11 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
28 d late
2022
2 d early
2021
2 d early
2020
1 d early
2019
on the day
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
05-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€60k▼ 21.9%
2024 · €77k
2023: €71k
2024: €77k
2023 → 2025
Total assets
€328k▲ 8.6%
2024 · €302k
2023: €311k
2024: €302k
2023 → 2025
Net result
€-17k
2024 · €6k
2023: €15k
2024: €6k
2023 → 2025
Working capital
€60k▼ 21.2%
2024 · €76k
2023: €68k
2024: €76k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€71k-€77k▲ 9.0%€60k▼ 21.9%
Operating result€19k-€10k▼ 48.0%€-17k
Net result€15k-€6k▼ 57.3%€-17k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €17k after €10k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €328k
Fixed assets
€3k▼ 23.4%
Current assets
€325k▲ 9.0%
Equity and liabilities €328k
Equity
€60k▼ 21.9%
Debt
€268k▲ 19.1%
The debt ratio rises from 74.5% to 81.6%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-14k▼
2024 · €12k
Cash flow
€-15k▼
2024 · €9k
Solvency
18.4%▼
2024 · 25.5%
Current ratio
1.22▼
2024 · 1.34
Quick ratio
0.23▲
2024 · 0.13
Debt / equity
4.44▲
2024 · 2.92
ROE
-28.0%▼
2024 · 8.2%
ROA
-5.1%▼
2024 · 2.1%
Interest coverage
-93.03▼
2024 · -21.26
Debt
€268k▲
2024 · €225k
Debt ≤ 1 year
€266k▲
2024 · €223k
Income taxes
€0▼
2024 · €4k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Total assets
20/58€302k€328k▲
Fixed assets
21/28€4k€3k▼
Intangible fixed assets
21€580€364▼
Tangible fixed assets
22/27€3k€2k▼
Current assets
29/58€299k€325k▲
Stocks & contracts in progress
3€270k€264k▼
Amounts receivable within one year
40/41€5k€45k▲
Cash & bank
54/58€23k€15k▼
Total equity & liabilities
10/49€302k€328k▲
Equity
10/15€77k€60k▼
Contributions / capital
10/11€25k€25k=
Reserves
13€31k€31k=
Accumulated profits (losses)
14€21k€4k▼
Amounts payable
17/49€225k€268k▲
Amounts payable within one year
42/48€223k€266k▲
Trade debts payable within one year
44€10k€23k▲
Income statement
Code20242025
Gross operating margin
9900€13k€-13k▼
Operating result
9901€10k€-17k▼
Financial income
75€1€0▼
Financial charges
65€-577€156▲
Result before taxes
9903€10k€-17k▼
Income taxes
67/77€4k€0▼
Net result for the period
9904€6k€-17k▼
Result to be appropriated
9905€6k€-17k▼
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet €-17k ▼365%
Net result drops to €-17k, the lowest in the series.
28-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
20-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 20 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Comparable companies · same sector, comparable size
Similar companies · same sector, comparable size
MERTENS
BE 0445.883.561
Vorst · Eq €64k
DE SMEDERIJ
BE 0862.171.038
Brasschaat · Eq €33k
KRIATE
BE 0760.723.191
Halle · Eq €31k
DRYBOOMS
BE 0739.564.028
Jette · Eq €18k
LA CENTRALE D'ACHATS LITURGIQUES
BE 0478.098.053
Wezembeek-Oppem · Eq €219k
Of 79 companies in sector 32124 we hold annual accounts for 11. 8 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded07-06-2017
Fiscal year end30-09
Trade name NL
Mère et Fille
Activities, NACEBEL
32124Other manufacturing
32130Manufacture of imitation jewellery and related articles
46480Wholesale trade
47770Retail sale of watches and jewellery
74111Design of textile patterns, clothing, jewellery, furniture and decorative items
95250Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 18-07-2026. Scores and ratios are computed by Checked and are not a credit decision.