GIBOSTAR
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 07-10-2026 at the NBB all 17 filings
Equity
€110,912▼ 24.1%
2025 · €146,182
Total assets
€123,642▼ 34.3%
2025 · €188,177
Net result
-€35,270
2025 · €16,646
Working capital
€34,654▼ 47.4%
2025 · €65,901
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
-€35,271
2026
20192026
Net result
-€35,270
2026
20192026
Equity
€110,912
▼ 24.1%
2026
20192026
Total assets
€123,642
▼ 34.3%
2026
20192026
Debt
€12,731
▼ 69.7%
2026
20192026
Working capital
€34,654
▼ 47.4%
2026
20192026
Solvency
89.7%
▲ 12.0pp
2026
20192026
Current ratio
3.73
▲ 1.16
2026
20192026
Return on assets (ROA)
-28.5%
▼ 37.4pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€41,340-€52,765▲ 27.6%-€4,555€9,004€27,560▲ 206%€31,999▲ 16.1%€23,608▼ 26.2%-€35,271
Net result€32,415-€41,215▲ 27.1%-€3,432below the sector's middle half€5,562within the sector's middle half€22,051within the sector's middle half▲ 296%€22,843within the sector's middle half▲ 3.6%€16,646within the sector's middle half▼ 27.1%-€35,270
Equity€155,211-€155,873▲ 0.4%€151,889above the sector's middle half▼ 2.6%€128,328within the sector's middle half▼ 15.5%€135,541within the sector's middle half▲ 5.6%€158,107above the sector's middle half▲ 16.6%€146,182within the sector's middle half▼ 7.5%€110,912▼ 24.1%
Total assets€224,925-€236,142▲ 5.0%€155,591within the sector's middle half▼ 34.1%€168,163within the sector's middle half▲ 8.1%€172,932within the sector's middle half▲ 2.8%€172,466within the sector's middle half▼ 0.3%€188,177within the sector's middle half▲ 9.1%€123,642▼ 34.3%
Debt€69,714-€80,269▲ 15.1%€3,701▼ 95.4%€39,835▲ 976%€37,391▼ 6.1%€14,359▼ 61.6%€41,995▲ 192%€12,731▼ 69.7%
Working capital€60,944-€65,647▲ 7.7%€51,411within the sector's middle half▼ 21.7%€34,056within the sector's middle half▼ 33.8%€47,620within the sector's middle half▲ 39.8%€73,843within the sector's middle half▲ 55.1%€65,901within the sector's middle half▼ 10.8%€34,654▼ 47.4%
Solvency69.0%-66.0%▼ 3.0pp97.6%above the sector's middle half▲ 31.6pp76.3%within the sector's middle half▼ 21.3pp78.4%above the sector's middle half▲ 2.1pp91.7%above the sector's middle half▲ 13.3pp77.7%within the sector's middle half▼ 14.0pp89.7%▲ 12.0pp
Current ratio2.16-2.01▼ 0.1614.89above the sector's middle half▲ 12.881.86within the sector's middle half▼ 13.032.29within the sector's middle half▲ 0.436.15above the sector's middle half▲ 3.862.57within the sector's middle half▼ 3.583.73▲ 1.16
Return on assets (ROA)14.4%-17.5%▲ 3.0pp-2.2%below the sector's middle half▼ 19.7pp3.3%within the sector's middle half▲ 5.5pp12.8%within the sector's middle half▲ 9.4pp13.2%within the sector's middle half▲ 0.5pp8.8%within the sector's middle half▼ 4.4pp-28.5%▼ 37.4pp
above
within
below
The sector band is the middle half of the companies in Computing infrastructure, data processing, hosting and other information service activities (NACE 63). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a loss of €35,271, after a profit of €23,608 in 2025. It is the lowest result since 2022.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €123,642
Fixed assets
€76,282 ▼ 5.0%
Current assets
€47,360 ▼ 56.1%
Equity and liabilities €123,642
Equity
€110,912 ▼ 24.1%
Debt
€12,731 ▼ 69.7%
Debt's share of the balance-sheet total falls from 22.3% to 10.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€31,270▼
2025 · €27,609
Cash flow
-€31,269▼
2025 · €20,647
Debt to equity
0.11▼
2025 · 0.29
ROE
-31.8%▼
2025 · 11.4%
Interest coverage
-54.38▼
2025 · 56.43
Debt ≤ 1 year
€12,706▼
2025 · €41,992
Income taxes
€133▼
2025 · €6,474
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,374 | €6,374 | €6,211 | €6,074 | €6,069 | €4,001 | €4,001 | €4,001 | = |
| Other operating charges640/8 | - | - | - | €3,484 | €2,406 | €2,030 | €1,771 | €1,785 | ▲ 0.8% |
| Gross operating margin9900 | €48,674 | €62,007 | €15,272 | €18,562 | €36,036 | €38,030 | €29,380 | -€29,485 | - |
| Operating profit (loss)9901 | €41,340 | €52,765 | -€4,555 | €9,004 | €27,560 | €31,999 | €23,608 | -€35,271 | - |
| Financial income75/76B | - | - | - | €998 | €722 | €277 | €1 | €708 | ▲ 824× |
| Recurring financial income75 | €804 | €688 | €1,346 | €998 | €722 | €277 | €1 | €708 | ▲ 824× |
| Financial charges65/66B | - | - | - | €115 | €155 | €95 | €489 | €575 | ▲ 17.5% |
| Recurring financial charges65 | €584 | €394 | €226 | €115 | €155 | €95 | €489 | €575 | ▲ 17.5% |
| Profit (loss) for the period before taxes9903 | €41,560 | €53,059 | -€3,435 | €9,887 | €28,127 | €32,181 | €23,120 | -€35,137 | - |
| Income taxes67/77 | €9,145 | €11,844 | -€4 | €4,325 | €6,077 | €9,338 | €6,474 | €133 | ▼ 97.9% |
| Profit (loss) for the period9904 | €32,415 | €41,215 | -€3,432 | €5,562 | €22,051 | €22,843 | €16,646 | -€35,270 | - |
| Profit (loss) for the period to be appropriated9905 | €32,415 | €41,215 | -€3,432 | €5,562 | €22,051 | €22,843 | €16,646 | -€35,270 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €224,925 | €236,142 | €155,591 | €168,163 | €172,932 | €172,466 | €188,177 | €123,642 | ▼ 34.3% |
| Fixed assets21/28 | €111,599 | €105,226 | €100,479 | €94,404 | €88,285 | €84,284 | €80,283 | €76,282 | ▼ 5.0% |
| Tangible fixed assets22/27 | €111,549 | €105,176 | €100,429 | €94,354 | €88,285 | €84,284 | €80,283 | €76,282 | ▼ 5.0% |
| Land and buildings22 | - | - | - | €94,354 | €88,285 | €84,284 | €80,283 | €76,282 | ▼ 5.0% |
| Furniture and vehicles24 | - | - | - | €0 | - | - | - | - | - |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €0 | - | - | - | - |
| Current assets29/58 | €113,325 | €130,916 | €55,112 | €73,759 | €84,647 | €88,182 | €107,894 | €47,360 | ▼ 56.1% |
| Amounts receivable within one year40/41 | €69,709 | €62,288 | €15,495 | €20,814 | €23,020 | €30,715 | €37,429 | €24,481 | ▼ 34.6% |
| Trade receivables40 | - | - | - | €15,279 | €19,096 | €30,710 | €29,903 | €17,401 | ▼ 41.8% |
| Other amounts receivable41 | - | - | - | €5,535 | €3,923 | €4 | €7,526 | €7,080 | ▼ 5.9% |
| Current investments50/53 | - | - | - | - | - | - | €16,210 | €18,610 | ▲ 14.8% |
| Cash at bank and in hand54/58 | €41,903 | €66,726 | €37,669 | €52,385 | €60,114 | €56,194 | €53,428 | €3,956 | ▼ 92.6% |
| Deferred charges and accrued income490/1 | - | - | - | €560 | €1,514 | €1,273 | €827 | €314 | ▼ 62.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €224,925 | €236,142 | €155,591 | €168,163 | €172,932 | €172,466 | €188,177 | €123,642 | ▼ 34.3% |
| Equity10/15 | €155,211 | €155,873 | €151,889 | €128,328 | €135,541 | €158,107 | €146,182 | €110,912 | ▼ 24.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €106,860 | €115,860 | €138,360 | €125,789 | €91,789 | ▼ 27.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €105,000 | €114,000 | €138,360 | €125,789 | €91,789 | ▼ 27.0% |
| Profit (loss) carried forward14 | €132,266 | €133,480 | €130,049 | €2,040 | €805 | €1,147 | €1,793 | €523 | ▼ 70.8% |
| Investment grants15 | - | - | - | €828 | €276 | - | - | - | - |
| Amounts payable17/49 | €69,714 | €80,269 | €3,701 | €39,835 | €37,391 | €14,359 | €41,995 | €12,731 | ▼ 69.7% |
| Amounts payable after more than one year17 | €17,333 | €15,000 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €52,381 | €65,269 | €3,701 | €39,703 | €37,027 | €14,339 | €41,992 | €12,706 | ▼ 69.7% |
| Trade debts44 | €4,786 | €3,573 | €1,647 | €389 | €1,448 | €1,797 | €852 | €1,436 | ▲ 68.6% |
| Suppliers440/4 | - | - | - | €389 | €1,448 | €1,797 | €852 | €1,436 | ▲ 68.6% |
| Taxes, remuneration and social security45 | - | - | - | €19,314 | €13,843 | €11,164 | €19,750 | €10,396 | ▼ 47.4% |
| Taxes450/3 | - | - | - | €18,863 | €12,898 | €11,069 | €17,504 | €4,666 | ▼ 73.3% |
| Remuneration and social security454/9 | - | - | - | €451 | €945 | €95 | €2,246 | €5,730 | ▲ 155% |
| Other amounts payable47/48 | - | - | - | €20,000 | €21,737 | €1,378 | €21,391 | €875 | ▼ 95.9% |
| Accrued charges and deferred income492/3 | - | - | - | €132 | €364 | €20 | €3 | €24 | ▲ 744% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,415 | €41,215 | -€3,432 | €5,562 | €22,051 | €22,843 | €16,646 | -€35,270 | - |
| + Depreciation and write-downs630 | €6,374 | €6,374 | €6,211 | €6,074 | €6,069 | €4,001 | €4,001 | €4,001 | = |
| Operating cash flow (approximation) | €38,789 | €47,589 | €2,779 | €11,637 | €28,120 | €26,844 | €20,647 | -€31,269 | - |
| Investment in fixed assets (approximation) | - | €0 | -€1,464 | €0 | €50 | €0 | €0 | €0 | - |
| Change in cash | - | €24,823 | -€29,057 | €14,716 | €7,729 | -€3,920 | -€2,766 | -€49,472 | ▼ 1,689% |
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, 4,805 companies had the same profile as GIBOSTAR has now. Two years later, 88.1% were still going and 2.0% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
88.1%
was still going
9.8%
stopped otherwise
2.0%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of GIBOSTAR itself is lower: 0.3% within 12 months. It rests on far more data about GIBOSTAR than the profile alone.
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 4,805 companies, not a prediction for GIBOSTAR. 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.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 07-10-2026 | 2026-00550751 | |
| 31-03-2025 | micro format | 18-10-2025 | 2025-00544976 | |
| 31-03-2024 | micro format | 14-10-2024 | 2024-00505538 | |
| 31-03-2023 | micro format | 11-10-2023 | 2023-00481978 | |
| 31-03-2022 | micro format | 06-10-2022 | 2022-20452126 | |
| 31-03-2021 | micro format | 24-11-2021 | 2021-78200373 | |
| 31-03-2020 | micro format | 30-11-2020 | 2020-73800210 | |
| 31-03-2019 | micro format | 18-11-2019 | 2019-73800269 | |
| 31-03-2018 | micro format | 28-11-2018 | 2018-73200147 | |
| 31-03-2017 | micro format | 31-10-2017 | 2017-68700304 |