GIEL
ActiveSummary
GIEL has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.53M and a net result of €183k. Equity is growing by ~14.9% per year across the filed fiscal years. Its solvency ranks better than 15% of 2045 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
57
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability64▼-2
Solvency40▲+1
Growth61▼-20
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €85k at 30 days acceptable
Liquidity tight (current ratio 1.01 against 0.98 in 2024; short-term debt: 55.4% and cash: 12.2% of total assets), and 85.5% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
14.5%
Return on assets
1.7%
Age of the figures
15 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 2045 sector peers (2025).
NBB · sector comparisonPosition among 2045 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-01-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
8 d early
2023
11 d early
2022
13 d early
2021
28 d early
2020
8 d early
2019
25 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€25.10M▲ 10.2%
2024 · €22.77M
2023: €19.48M
2024: €22.77M
2023 → 2025
EBIT margin
1.5%▼ 0.6pp
2024 · 2.1%
2023: 2.9%
2024: 2.1%
2023 → 2025
Net result
€183k▼ 44.8%
2024 · €332k
2019: €329k
2020: €284k
2021: €479k
2022: €498k
2023: €485k
2024: €332k
2019 → 2025
Working capital
€81k
2024 · €-106k
2019: €89k
2020: €207k
2021: €274k
2022: €181k
2023: €349k
2024: €-106k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€19.48M€22.77M▲ 16.9%€25.10M▲ 10.2%
Equity€986k-€1.40M▲ 41.9%€1.41M▲ 0.7%€1.52M▲ 7.9%€1.53M▲ 0.4%
Operating result€529k-€659k▲ 24.6%€556k▼ 15.7%€478k▼ 13.9%€384k▼ 19.6%
Net result€479k-€498k▲ 3.8%€485k▼ 2.6%€332k▼ 31.6%€183k▼ 44.8%
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 20% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.52M
Fixed assets
€4.61M ▼ 2.8%
Current assets
€5.90M ▼ 9.0%
Equity and liabilities €10.52M
Equity
€1.53M ▲ 0.4%
Debt
€8.99M ▼ 7.4%
Debt's share of the balance-sheet total falls from 86.5% to 85.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.84M▼
2024 · €1.85M
Cash flow
€1.64M▼
2024 · €1.70M
Current ratio
1.01▲
2024 · 0.98
Quick ratio
0.99▲
2024 · 0.96
Debt to equity
5.89▼
2024 · 6.39
ROE
12.0%▼
2024 · 21.8%
ROA
1.7%▼
2024 · 3.0%
Interest coverage
13.74▼
2024 · 17.92
Debt ≤ 1 year
€5.82M▼
2024 · €6.59M
Debt > 1 year
€3.15M▲
2024 · €3.10M
Income taxes
€82k▲
2024 · €75k
Staff costs
€2.13M▲
2024 · €1.72M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 86 lines
Balance sheet
Code20242025
Assets
Total assets20/58€11.23M€10.52M▼
Fixed assets21/28€4.75M€4.61M▼
Tangible fixed assets22/27€4.73M€4.58M▼
Land and buildings22€281k€245k▼
Plant, machinery and equipment23€789k€706k▼
Furniture and vehicles24€2.09M€1.56M▼
Leasing and similar rights25€1.35M€1.38M▲
Other tangible fixed assets26€215k€693k▲
Financial fixed assets28€14k€33k▲
Other financial fixed assets284/8€14k€33k▲
Shares284€3k€3k=
Amounts receivable and cash guarantees285/8€11k€30k▲
Current assets29/58€6.49M€5.90M▼
Stocks and contracts in progress3€155k€167k▲
Stocks30/36€155k€167k▲
Raw materials and consumables30/31€155k€167k▲
Amounts receivable within one year40/41€5.68M€4.38M▼
Trade receivables40€5.31M€4.18M▼
Other amounts receivable41€369k€196k▼
Cash at bank and in hand54/58€536k€1.28M▲
Deferred charges and accrued income490/1€117k€83k▼
Equity and liabilities
Total equity and liabilities10/49€11.23M€10.52M▼
Equity10/15€1.52M€1.53M▲
Contributions10/11€19k€19k=
Reserves13€1.31M€1.40M▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Tax-exempt reserves132€75k€75k=
Distributable reserves133€1.24M€1.33M▲
Profit (loss) carried forward14€187k€106k▼
Amounts payable17/49€9.71M€8.99M▼
Amounts payable after more than one year17€3.10M€3.15M▲
Financial debts170/4€3.10M€3.15M▲
Leasing and similar obligations172€1.24M€1.09M▼
Credit institutions173€1.52M€1.82M▲
Other loans174€344k€239k▼
Amounts payable within one year42/48€6.59M€5.82M▼
Current portion of amounts payable after more than one year42€1.06M€1.18M▲
Financial debts43-€126k
Credit institutions430/8-€20k
Other loans439-€106k
Trade debts44€4.99M€3.98M▼
Suppliers440/4€4.99M€3.98M▼
Advances received on contracts in progress46-€4k
Taxes, remuneration and social security45€319k€370k▲
Taxes450/3€79k€61k▼
Remuneration and social security454/9€240k€309k▲
Other amounts payable47/48€225k€171k▼
Accrued charges and deferred income492/3€16k€23k▲
Income statement
Code20242025
Operating income70/76A€22.87M€25.32M▲
Turnover70€22.77M€25.10M▲
Other operating income74€96k€218k▲
Operating charges60/66A€22.39M€24.94M▲
Goods for resale, raw materials and consumables60€15.75M€18.16M▲
Purchases600/8€15.83M€18.17M▲
Change in stocks: decrease (increase)609€-72k€-11k▲
Services and other goods61€3.39M€3.09M▼
Remuneration, social security and pensions62€1.72M€2.13M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.37M€1.45M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€108k€77k▼
Other operating charges640/8€42k€31k▼
Non-recurring operating charges66A€0-
Operating profit (loss)9901€478k€384k▼
Financial income75/76B€38k€28k▼
Recurring financial income75€38k€28k▼
Other financial income752/9€38k€28k▼
Financial charges65/66B€110k€148k▲
Recurring financial charges65€110k€148k▲
Debt charges650€103k€134k▲
Other financial charges652/9€6k€14k▲
Profit (loss) for the period before taxes9903€407k€265k▼
Income taxes67/77€75k€82k▲
Taxes670/3€80k€85k▲
Tax adjustments and reversals of tax provisions77€5k€3k▼
Profit (loss) for the period9904€332k€183k▼
Profit (loss) for the period to be appropriated9905€332k€183k▼
Appropriation of the result
Profit (loss) to be appropriated9906€519k€370k▼
Profit (loss) brought forward from the previous period14P€187k€187k=
Transfer from equity791/2€0€116k▲
From reserves792€0€116k▲
Transfer to equity691/2€112k€204k▲
To other reserves6921€112k€204k▲
Profit to be distributed694/7€220k€176k▼
Return on contributions (dividend)694€0€116k▲
Directors or managers695€220k€60k▼
Social balance
Average headcount (FTE)908725.128.8▲
The notes to these accounts (88 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
Financial
Weakest financial yearnet €183k ▼44.8%
Net result drops to €183k, the lowest in the series.
23-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
20-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
18-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
Financial
Highest result since 2019net €498k ▲3.8%
Operating result €659k, net result €498k, both a record.
30-06
Financial
Equity above €1MEq €1.40M ▲41.9%
4 profitable years in a row build equity to €1.40M.
03-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
23-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Equity above €500kEq €611k ▲51.9%
2 profitable years in a row build equity to €611k.
06-01
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
25-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brecht · 1 establishment unit since 2008
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Vaartkant Rechts 52960 BrechtGround area
2.3 ha
Parcel 11043D0375/00A000, Flanders. Linked by address, not a title deed.
1 establishment unit
GIEL BVBA
since 20082.174.089.209
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11043D0375/00A000 | Flanders | 2.3 ha | - | - |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 45,584 EUR awarded · 44,950 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 29,490 EUR | 28,884 EUR |
| 2024 | 1 | 7,589 EUR | 7,500 EUR |
| 2023 | 2 | 3,050 EUR | 3,155 EUR |
| 2022 | 1 | 5,455 EUR | 5,411 EUR |
Schemes
Individueel Maatwerk
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Subsidies ecologisch en veilig transport (stopgezet)
Recognitions · licences · registrations
Recognised contractor
1 categoryGIEL BV41028
Similar companies · same sector, comparable size
BOGAERT LIQUID SOLUTIONS
BE 0454.310.683
Destelbergen · Eq €1.55M
Resitec
BE 0437.023.404
Ranst · Eq €1.46M
NIK DESIGN
BE 0502.984.095
Anderlecht · Eq €1.61M
V & D CONSTRUCT
BE 0479.083.394
Tongeren-Borgloon · Eq €1.37M
SOLIDBETON
BE 0428.612.118
Flémalle · Eq €1.33M
Of 751 companies in sector 43422 we hold annual accounts for 424. 147 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-10-2008
Fiscal year end30-06
Activities, NACEBEL 2025
43331Floor and wall tiling
43422Screed work
23610Manufacture of other non-metallic mineral products
43211General electrical installation work
43230Insulation installation
43429Specialised construction activities
43990Other specialised construction activities
46140Agents in the wholesale of industrial machinery, ships and aircraft
46150Agents in the wholesale of furniture, household goods and hardware
95220Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.