GILCO
ActiveSummary
GILCO has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.1m and a net result of €326,948. Equity is growing by ~9.8% per year across the filed fiscal years. Its solvency ranks better than 92% of 31942 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+12
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity ample (current ratio 34.38 against 15.71 in 2024; short-term debt: 2.6% and cash: 72.4% of total assets), and 6.5% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
93.5%
Return on assets
28.8%
Age of the figures
9 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
12 d late
2023
29 d late
2022
30 d late
2021
24 d late
2020
31 d late
2019
54 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 26 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€1.1m▼ 22.5%
2024 · €1.4m
Total assets
€1.1m▼ 24.2%
2024 · €1.5m
Net result
€326,948▲ 39.2%
2024 · €234,953
Working capital
€990,202▼ 21.1%
2024 · €1.3m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€113,513▼ 15.5%€327,270▲ 188%€257,227▼ 21.4%€324,897▲ 26.3%€459,246▲ 41.4%
Net result€81,263within the sector's middle half▼ 13.8%€225,377above the sector's middle half▲ 177%€180,209above the sector's middle half▼ 20.0%€234,953above the sector's middle half▲ 30.4%€326,948above the sector's middle half▲ 39.2%
Equity€1.0mwithin the sector's middle half▲ 8.4%€1.3mabove the sector's middle half▲ 21.5%€1.5mabove the sector's middle half▲ 14.2%€1.4mabove the sector's middle half▼ 5.7%€1.1mabove the sector's middle half▼ 22.5%
Total assets€1.1mwithin the sector's middle half▲ 5.1%€1.4mabove the sector's middle half▲ 21.6%€1.6mabove the sector's middle half▲ 16.4%€1.5mabove the sector's middle half▼ 5.0%€1.1mabove the sector's middle half▼ 24.2%
Debt€24,159▼ 52.9%€39,704▲ 64.3%€81,246▲ 105%€85,282▲ 5.0%€29,661▼ 65.2%
Working capital€980,310above the sector's middle half▲ 11.2%€1.2mabove the sector's middle half▲ 25.7%€1.4mabove the sector's middle half▲ 10.4%€1.3mabove the sector's middle half▼ 7.8%€990,202above the sector's middle half▼ 21.1%
Solvency93.9%above the sector's middle half▲ 2.9pp93.9%above the sector's middle half▼ 0.1pp92.1%above the sector's middle half▼ 1.8pp91.4%above the sector's middle half▼ 0.7pp93.5%above the sector's middle half▲ 2.1pp
Current ratio41.71above the sector's middle half▲ 23.4832.05above the sector's middle half▼ 9.6618.51above the sector's middle half▼ 13.5415.71above the sector's middle half▼ 2.8034.38above the sector's middle half▲ 18.67
Return on assets (ROA)7.3%within the sector's middle half▼ 1.6pp16.6%within the sector's middle half▲ 9.3pp11.4%within the sector's middle half▼ 5.2pp15.7%within the sector's middle half▲ 4.3pp28.8%within the sector's middle half▲ 13.1pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2022 Net result +177% on 2021. The accounts now follow the micro schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 41% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€115,535 ▼ 27.2%
Current assets
€1.0m ▼ 23.9%
Equity and liabilities €1.1m
Equity
€1.1m ▼ 22.5%
Provisions
€43,637 =
Debt
€29,661 ▼ 65.2%
Debt's share of the balance-sheet total falls from 5.7% to 2.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€486,015▲
2024 · €369,819
Cash flow
€353,717▲
2024 · €279,875
Debt to equity
0.03▼
2024 · 0.06
ROE
30.8%▲
2024 · 17.2%
Interest coverage
213.86▼
2024 · 356.84
Debt ≤ 1 year
€29,661▼
2024 · €85,282
Income taxes
€148,018▲
2024 · €113,094
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 20,129 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,617 | €28,864 | €34,497 | €44,922 | €26,769 | ▼ 40.4% |
| Other operating charges640/8 | €12,603 | €6,119 | €4,802 | €4,839 | €5,120 | ▲ 5.8% |
| Non-recurring operating charges66A | - | €939 | €0 | - | €42,961 | - |
| Gross operating margin9900 | €160,733 | €363,192 | €296,527 | €374,658 | €534,096 | ▲ 42.6% |
| Operating profit (loss)9901 | €113,513 | €327,270 | €257,227 | €324,897 | €459,246 | ▲ 41.4% |
| Financial income75/76B | €144 | €0 | €1,901 | €24,187 | €17,992 | ▼ 25.6% |
| Recurring financial income75 | €144 | €0 | €1,901 | €24,187 | €17,992 | ▼ 25.6% |
| Financial charges65/66B | €101 | €137 | €1,159 | €1,036 | €2,273 | ▲ 119% |
| Recurring financial charges65 | €101 | €137 | €1,159 | €1,036 | €2,273 | ▲ 119% |
| Profit (loss) for the period before taxes9903 | €113,556 | €327,133 | €257,969 | €348,048 | €474,966 | ▲ 36.5% |
| Income taxes67/77 | €32,293 | €101,755 | €77,760 | €113,094 | €148,018 | ▲ 30.9% |
| Profit (loss) for the period9904 | €81,263 | €225,377 | €180,209 | €234,953 | €326,948 | ▲ 39.2% |
| Profit (loss) for the period to be appropriated9905 | €81,263 | €225,377 | €180,209 | €234,953 | €326,948 | ▲ 39.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €1.4m | €1.6m | €1.5m | €1.1m | ▼ 24.2% |
| Fixed assets21/28 | €110,855 | €83,777 | €138,935 | €158,698 | €115,535 | ▼ 27.2% |
| Tangible fixed assets22/27 | €110,791 | €83,777 | €138,935 | €158,698 | €115,535 | ▼ 27.2% |
| Land and buildings22 | €83,138 | €62,920 | €69,180 | €104,634 | €75,252 | ▼ 28.1% |
| Plant, machinery and equipment23 | €12,410 | €10,708 | €9,006 | €7,304 | €5,602 | ▼ 23.3% |
| Furniture and vehicles24 | €2,588 | €1,194 | €51,463 | €40,068 | €29,274 | ▼ 26.9% |
| Other tangible fixed assets26 | €12,655 | €8,955 | €9,286 | €6,692 | €5,407 | ▼ 19.2% |
| Financial fixed assets28 | €64 | €0 | - | - | - | - |
| Current assets29/58 | €1.0m | €1.3m | €1.4m | €1.3m | €1.0m | ▼ 23.9% |
| Amounts receivable within one year40/41 | €28,504 | €0 | €138,748 | €119,502 | €17,111 | ▼ 85.7% |
| Trade receivables40 | €17,272 | €0 | €138,748 | €119,502 | €5,445 | ▼ 95.4% |
| Other amounts receivable41 | €11,232 | €0 | - | - | €11,666 | - |
| Current investments50/53 | - | - | €347,881 | €928,824 | €178,393 | ▼ 80.8% |
| Cash at bank and in hand54/58 | €975,888 | €1.3m | €948,906 | €285,532 | €822,350 | ▲ 188% |
| Deferred charges and accrued income490/1 | - | - | €3,452 | €6,072 | €2,010 | ▼ 66.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €1.4m | €1.6m | €1.5m | €1.1m | ▼ 24.2% |
| Equity10/15 | €1.0m | €1.3m | €1.5m | €1.4m | €1.1m | ▼ 22.5% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1.0m | €1.3m | €1.4m | €1.4m | €1.1m | ▼ 22.6% |
| Non-distributable reserves130/1 | €1,855 | €1,855 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,855 | €1,855 | €0 | - | - | - |
| Distributable reserves133 | €1.0m | €1.3m | €1.4m | €1.4m | €1.1m | ▼ 22.6% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Provisions and deferred taxes16 | €43,637 | €43,637 | €43,637 | €43,637 | €43,637 | = |
| Provisions for liabilities and charges160/5 | €43,637 | €43,637 | €43,637 | €43,637 | €43,637 | = |
| Pensions and similar obligations160 | €43,637 | €43,637 | €43,637 | €43,637 | €43,637 | = |
| Amounts payable17/49 | €24,159 | €39,704 | €81,246 | €85,282 | €29,661 | ▼ 65.2% |
| Amounts payable within one year42/48 | €24,083 | €39,704 | €77,752 | €85,282 | €29,661 | ▼ 65.2% |
| Trade debts44 | €16,011 | €11,847 | €8,817 | €6,965 | €8,903 | ▲ 27.8% |
| Suppliers440/4 | €16,011 | €11,847 | €8,817 | €6,965 | €8,903 | ▲ 27.8% |
| Taxes, remuneration and social security45 | €8,072 | €27,849 | €66,560 | €72,619 | €20,759 | ▼ 71.4% |
| Taxes450/3 | €8,072 | €27,849 | €66,560 | €72,619 | €20,759 | ▼ 71.4% |
| Other amounts payable47/48 | - | €8 | €2,376 | €5,699 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €76 | €0 | €3,494 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €81,263 | €225,377 | €180,209 | €234,953 | €326,948 | ▲ 39.2% |
| + Depreciation and write-downs630 | €34,617 | €28,864 | €34,497 | €44,922 | €26,769 | ▼ 40.4% |
| Operating cash flow (approximation) | €115,880 | €254,241 | €214,707 | €279,875 | €353,717 | ▲ 26.4% |
| Investment in fixed assets (approximation) | - | -€1,786 | -€89,655 | -€64,685 | €16,394 | ▲ 125% |
| Change in cash | - | €296,505 | -€323,487 | -€663,374 | €536,818 | ▲ 181% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €326,948 ▲39.2%
Operating result €459,246, net result €326,948, both a record.
31-12
Financial
Liquidity doublescurrent ratio 34.38
Current ratio from 15.71 to 34.38; short-term debt falls from €85,282 to €29,661.
12-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 12 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 24 days late
2021
31-12
Financial
Weakest financial yearnet €81,263 ▼13.8%
Net result drops to €81,263, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 41.71
Current ratio from 18.23 to 41.71; short-term debt falls from €51,179 to €24,083.
31-12
Financial
Equity above €1mEq €1.0m ▲8.4%
4 profitable years in a row build equity to €1.0m.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
23-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 54 days late
Show earlier events
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 28 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
2 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, Oud-Heverlee · 1 establishment unit since 2004
Ground area
4,132 m²
Building footprint
358 m²
Volume, LiDAR
687 m³
2 parcels, Flanders · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GILCO
since 20042.136.869.616
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12404F0536/00F000 | Flanders | 3,001 m² | 1 · 200 m² | - |
| 24086A0179/00A000 | Flanders | 1,131 m² | 1 · 158 m² | 7.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
6994004WVPP1SM4O7X83
Similar companies · same sector, comparable size
SF HOLDING BELGIUM
BE 0793.234.425
Tournai · Eq €1,062,117
BLUE BEECH ADVISORY
BE 0680.539.033
Schoten · Eq €1,062,240
C-Consulting
BE 0674.437.931
Sint-Martens-Latem · Eq €1,061,897
DSF HOLDING
BE 0537.845.105
Brussel · Eq €1,061,864
SOGESER
BE 0822.733.214
Ham-sur-Heure-Nalinnes · Eq €1,061,862
Of 82,642 companies in sector 70200 we hold annual accounts for 52,626. 27,214 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded16-02-2004
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0863449161
Also
9925:BE0863449161
Registered
25-11-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.