GI’S EFFECT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 02-04-2026 PDF all 3 filings
Every figure per financial year
The operating result for 2025 is a profit of €111,531, after a loss of €29,404 in 2024. It is the highest result since 2023.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €16,061 | - | €14,350 |
| Depreciation and write-downs of the year | €1,552 | €5,353 | €7,275 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Turnover70 | - | - | €1.1m | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €1.0m | - |
| Remuneration, social security and pensions62 | - | €0.002m | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.002m | €0.005m | €0.007m | ▲ 35.9% |
| Other operating charges640/8 | €0.005m | €0.002m | €0.005m | ▲ 141% |
| Gross operating margin9900 | €0.04m | -€0.02m | €0.1m | - |
| Operating profit (loss)9901 | €0.04m | -€0.03m | €0.1m | - |
| Financial charges65/66B | €0.001m | €0.001m | €307 | ▼ 55.3% |
| Recurring financial charges65 | €0.001m | €0.001m | €307 | ▼ 55.3% |
| Profit (loss) for the period before taxes9903 | €0.04m | -€0.03m | €0.1m | - |
| Income taxes67/77 | €0.007m | - | €0.02m | - |
| Profit (loss) for the period9904 | €0.03m | -€0.03m | €0.09m | - |
| Profit (loss) for the period to be appropriated9905 | €0.03m | -€0.03m | €0.09m | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €58,889 | €36,811 | €141,186 | ▲ 284% |
| Fixed assets21/28 | €14,509 | €9,156 | €16,231 | ▲ 77.3% |
| Tangible fixed assets22/27 | €14,509 | €9,156 | €16,231 | ▲ 77.3% |
| Furniture and vehicles24 | €14,509 | €9,156 | €16,231 | ▲ 77.3% |
| Current assets29/58 | €44,380 | €27,655 | €124,955 | ▲ 352% |
| Amounts receivable within one year40/41 | €37,387 | €8,999 | €93,167 | ▲ 935% |
| Trade receivables40 | €14,839 | €2,210 | €73,842 | ▲ 33× |
| Other amounts receivable41 | €22,548 | €6,789 | €19,325 | ▲ 185% |
| Cash at bank and in hand54/58 | €6,993 | €18,656 | €31,788 | ▲ 70.4% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €58,889 | €36,811 | €141,186 | ▲ 284% |
| Equity10/15 | €34,368 | €4,276 | €98,930 | ▲ 23× |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Contributions outside capital11 | €5,000 | €5,000 | €5,000 | = |
| Other1109/19 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €29,368 | -€724 | €93,930 | - |
| Amounts payable17/49 | €24,521 | €32,535 | €42,256 | ▲ 29.9% |
| Amounts payable within one year42/48 | €24,521 | €32,535 | €42,256 | ▲ 29.9% |
| Trade debts44 | €14,966 | €14,761 | €13,228 | ▼ 10.4% |
| Suppliers440/4 | €14,966 | €14,761 | €13,228 | ▼ 10.4% |
| Taxes, remuneration and social security45 | €8,950 | €7,450 | €16,600 | ▲ 123% |
| Taxes450/3 | €8,950 | €7,450 | €16,600 | ▲ 123% |
| Other amounts payable47/48 | €605 | €10,324 | €12,427 | ▲ 20.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,368 | -€30,092 | €94,654 | - |
| + Depreciation and write-downs630 | €1,552 | €5,353 | €7,275 | ▲ 35.9% |
| Operating cash flow (approximation) | €30,920 | -€24,739 | €101,929 | - |
| Investment in fixed assets (approximation) | - | €0 | -€14,350 | - |
| Change in cash | - | €11,663 | €13,132 | ▲ 12.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as GI’S EFFECT has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GI’S EFFECT itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 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 39,278 companies, not a prediction for GI’S EFFECT. 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.