Giltec Plus
ActiveFrom the official registers: KBO 12 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
Giltec Plus has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31,145 and a net result of €23,958. Equity is shrinking by about 11% per year across the filed financial years. Its solvency ranks better than 56% of 13,692 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Official details
KBO- Status
- Active since 12-07-2010 Normal situation
- Legal form
- Private limited company
- Registered office
- Nieuwenhovelaan 23, 8020 Oostkamp
- Activity
- Wholesale trade NACE 46641and 4 others
- Establishment unit
- 2.190.507.844 8020 Oostkamp, since 12-08-2010
- Financial year end
- 30 June
- Peppol
- Reachable since 15-05-2025
Who decides
- Louis GielenDirector · since 17-12-2013
- Varunee NantachaiDirector · since 17-12-2013
How it is doing
- Bankruptcy probabilitywithin 12 months
- 0.3%
- Gross margin
- €34,114
- ▲ 10.7%
- Turnover
- ≈ €220,000
- estimated
- Profit
- €23,958
- ▲ 9.9%
- Equity
- €31,145
- ▼ 16.2%
- Total assets
- €63,931
- ▲ 11.4%
Why 86raises riskSize: total assets €63,931Liquidity: current ratio 1.91, cash €3,187, halvedlowers riskFounded in 2010Equity €31,145 (48.7% of total assets)Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro): better than 56% on solvency, 28% on liquidity, 95% on profitability and 21% on growth.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 38 days before the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
Annual accounts 2025
- Financial year ended
- 30-06-2025
- Filed on
- 16-01-2026
- Format
- micro format
- Reference
- 2026-00008856
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result recovers in 2025; 2025 is 12% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 34,693 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95.3% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 34,693 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €983 | €1,170 | €2,821 | €3,221 | €3,217 | €1,255 | €1,038 | ▼ 17.2% |
| Other operating charges640/8 | - | - | - | €193 | €195 | €205 | €221 | ▲ 7.6% |
| Gross operating margin9900 | -€7,251 | €9,001 | €35,548 | €44,834 | €86,782 | €30,820 | €34,114 | ▲ 10.7% |
| Operating profit (loss)9901 | -€8,341 | €7,831 | €32,537 | €41,421 | €83,371 | €29,360 | €32,855 | ▲ 11.9% |
| Financial income75/76B | - | - | - | €463 | €538 | €913 | €590 | ▼ 35.3% |
| Recurring financial income75 | - | - | - | €463 | €538 | €913 | €590 | ▼ 35.3% |
| Financial charges65/66B | - | - | - | €509 | €2,409 | €715 | €881 | ▲ 23.2% |
| Recurring financial charges65 | €239 | €335 | €1,283 | €509 | €2,409 | €715 | €881 | ▲ 23.2% |
| Profit (loss) for the period before taxes9903 | -€8,581 | €7,495 | €31,254 | €41,375 | €81,500 | €29,558 | €32,565 | ▲ 10.2% |
| Income taxes67/77 | - | - | €8,669 | €11,332 | €21,535 | €7,764 | €8,606 | ▲ 10.9% |
| Profit (loss) for the period9904 | -€8,581 | €7,495 | €22,585 | €30,043 | €59,965 | €21,794 | €23,958 | ▲ 9.9% |
| Profit (loss) for the period to be appropriated9905 | -€8,581 | €7,495 | €22,585 | €30,043 | €59,965 | €21,794 | €23,958 | ▲ 9.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €56,879 | €65,097 | €94,411 | €115,189 | €99,396 | €57,391 | €63,931 | ▲ 11.4% |
| Fixed assets21/28 | €1,095 | €6,554 | €4,653 | €5,093 | €1,877 | €622 | €1,179 | ▲ 89.5% |
| Tangible fixed assets22/27 | €1,095 | €6,554 | €4,653 | €5,093 | €1,877 | €622 | €1,179 | ▲ 89.5% |
| Furniture and vehicles24 | - | - | - | €5,093 | €1,877 | €622 | €1,179 | ▲ 89.5% |
| Current assets29/58 | €55,784 | €58,543 | €89,758 | €110,096 | €97,519 | €56,768 | €62,752 | ▲ 10.5% |
| Stocks and contracts in progress3 | €10,694 | €8,320 | €17,337 | €23,063 | €34,555 | €29,878 | €29,354 | ▼ 1.8% |
| Stocks30/36 | - | - | - | €23,063 | €34,555 | €29,878 | €29,354 | ▼ 1.8% |
| Amounts receivable within one year40/41 | €2,494 | €4,020 | €12,528 | €22,911 | €38,047 | €16,521 | €29,554 | ▲ 78.9% |
| Trade receivables40 | - | - | - | €10,448 | €24,568 | €320 | €12,083 | ▲ 38× |
| Other amounts receivable41 | - | - | - | €12,462 | €13,479 | €16,201 | €17,471 | ▲ 7.8% |
| Cash at bank and in hand54/58 | €42,442 | €45,756 | €59,448 | €63,665 | €24,739 | €9,852 | €3,187 | ▼ 67.7% |
| Deferred charges and accrued income490/1 | - | - | - | €458 | €178 | €518 | €656 | ▲ 26.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €56,879 | €65,097 | €94,411 | €115,189 | €99,396 | €57,391 | €63,931 | ▲ 11.4% |
| Equity10/15 | €55,304 | €62,799 | €65,384 | €35,427 | €35,392 | €37,186 | €31,145 | ▼ 16.2% |
| Contributions10/11 | €20,000 | - | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €33,304 | €40,799 | €43,384 | €13,427 | €13,392 | €15,186 | €9,145 | ▼ 39.8% |
| Amounts payable17/49 | €1,575 | €2,297 | €29,027 | €79,762 | €64,004 | €20,204 | €32,786 | ▲ 62.3% |
| Amounts payable within one year42/48 | €1,575 | €2,297 | €29,027 | €79,762 | €64,004 | €20,204 | €32,786 | ▲ 62.3% |
| Trade debts44 | €1,575 | €2,297 | €358 | €8,430 | €469 | €204 | €2,786 | ▲ 14× |
| Suppliers440/4 | - | - | - | €8,430 | €469 | €204 | €2,786 | ▲ 14× |
| Taxes, remuneration and social security45 | - | - | - | €11,332 | €3,535 | €0 | - | - |
| Taxes450/3 | - | - | - | €11,332 | €3,535 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €60,000 | €60,000 | €20,000 | €30,000 | ▲ 50.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,581 | €7,495 | €22,585 | €30,043 | €59,965 | €21,794 | €23,958 | ▲ 9.9% |
| + Depreciation and write-downs630 | €983 | €1,170 | €2,821 | €3,221 | €3,217 | €1,255 | €1,038 | ▼ 17.2% |
| Operating cash flow (approximation) | -€7,598 | €8,665 | €25,406 | €33,264 | €63,182 | €23,049 | €24,996 | ▲ 8.4% |
| Investment in fixed assets (approximation) | - | -€6,629 | -€920 | -€3,661 | €0 | €0 | -€1,595 | - |
| Change in cash | - | €3,314 | €13,692 | €4,217 | -€38,925 | -€14,887 | -€6,665 | ▲ 55.2% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 16-01-2026 | 2026-00008856 | |
| 30-06-2024 | micro format | 09-01-2025 | 2025-00002455 | |
| 30-06-2023 | micro format | 19-12-2023 | 2023-00531438 | |
| 30-06-2022 | micro format | 03-01-2023 | 2023-20551724 | |
| 30-06-2021 | micro format | 13-01-2022 | 2022-00900117 | |
| 30-06-2020 | micro format | 15-12-2020 | 2020-75700481 | |
| 30-06-2019 | micro format | 31-10-2019 | 2019-72500056 | |
| 30-06-2018 | micro format | 26-10-2018 | 2018-70400271 | |
| 30-06-2017 | micro format | 25-10-2017 | 2017-67900189 | |
| 30-06-2016 | abbreviated format | 30-09-2016 | 2016-63500548 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Louis Gielen |
|
| Varunee Nantachai |
|
How the board is organised
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Natuurlijke personen of rechtspersonen,al dan niet aandeelhouder, een of meer”
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Algemene vergadering beslissende in vormen vereist voor statutenwijziging, op elk moment”
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Een of meerdere vereffenaars aanduiden,bevoegdheden omlijnen,vergoeding bepalen, bestuurder(s) in functie aangewezen als vereffenaar(s)…”
Articles of association, deed of 05-04-2023 (in Dutch)
Owners and capital
Capital and shareholders
- 05-04-2023 Converted to unavailable equity
Other provisions of the articles of association
- Other provisionsRules from the articles on subjects other than the board, the shares, the purpose and the meetings.
- Other provision: “Een of meerdere commissarissen, drie jaar”Other provision: “Toegang algemene vergadering, effectenhouder”Other provision: “Bestemming winst-reserves, verminderd met overgedragen verlies of vermeerderd met overgedragen winst”Liquidation distribution: “Goederen in natura zelfde wijze verdeeld, netto actief onder alle aandeelhouders naar verhouding aantal aandelen”
Articles of association, deed of 05-04-2023 (in Dutch)
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
05-04
Gazette deed
Resignations: Louis Gielen (manager and director) and Varunee Nantachai (manager and director)Appointments: Louis Gielen (director) and Varunee Nantachai (director) · Legal form clause · Purpose change15 facts ▸
- General meeting, 31-03-2023
- Legal form clause, “behouden, besloten vennootschap” (deed in Dutch)
- Other provision, “kennisname verslag bestuurder over voorgestelde voorwerpswijziging en goedkeuring, kennisname zonder opmerkingen en goedkeuring” (deed in Dutch)
- Purpose change
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Amendment of the articles, 2
- Amendment of the articles
- Capital
- Director resignation, Louis Gielen (manager and director)
- Director resignation, Varunee Nantachai (manager and director)
- Director appointment, Louis Gielen (director)
- Director appointment, Varunee Nantachai (director)
- +3 further facts in this act
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Who it is
KBO recordWhere it is based
What it does
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBScores and ratios are computed by Checked and are not a credit decision.
Purpose, financial year and meetings according to the articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “De aan- en verkoop van allerlei machines; elektrische,pneumatische en hydraulische materialen en andere werktuigen in de ruimste zin van het…”
23 activities
- De aan- en verkoop van allerlei machines; elektrische,pneumatische en hydraulische materialen en andere werktuigen in de ruimste zin van het woord
- Bouw,onderhoud,herstel en assemblage van industriële machines
- Metaalconstructies
- Groot- en kleinhandel,handelsbemiddeling in machines voor huishoudelijk en industrieel gebruik
- Zij mag optreden als inkoopkantoor van alle goederen,commissiehandel,makelarij,vertegenwoordigingen en agentschappen,alles in de ruimste zin van het woord
- Het verwerven en aanhouden van participaties,in eender welke vorm,in alle bestaande of op te richten industriële,commerciële,financiële,landbouw- of immobiliënvennootschappen of –ondernemingen
- Het stimuleren,de planning en coördinatie van de ontwikkeling van de vennootschappen en ondernemingen,waarin ze een participatie aanhoudt
- Het deelnemen aan hun beheer,bestuur en toezicht alsmede het verlenen van technische,administratieve en financiële bijstand aan deze vennootschappen en ondernemingen
- Het beheren van een onroerend patrimonium en het valoriseren van dit patrimonium vooral door beheersdaden,zoals verhuring,dit alles in de ruimste zin van het woord en zonder dat een opsomming beperkend weze
- Het verwerven van participaties in eender welke vorm in alle bestaande of op te richten rechtspersonen en vennootschappen,het stimuleren,de planning,de coördinatie,de ontwikkeling van en de investering in rechtspersonen en ondernemingen waarin zij al of niet participatie aanhoudt
- Het toestaan van leningen en kredietopeningen aan rechtspersonen en ondernemingen of particulieren,onder om het even welke vorm; in dit kader kan zij zich ook borg stellen of haar aval verlenen,in de meest ruime zin,alle handels- en financiële operaties verrichten behalve die wettelijk voorbehouden zijn aan kredietinstellingen
- Het waarnemen van alle bestuursopdrachten en opdrachten van vereffenaars,het uitoefenen van opdrachten en functies
- Het verlenen van administratieve prestaties en computerservices
- De aan- en verkoop,in- en uitvoer,commissiehandel en vertegenwoordiging van om het even welke goederen,in ’t kort tussenpersoon in de handel
- Het aanleggen,het oordeelkundig uitbouwen en beheren van een onroerend vermogen; alle verrichtingen met betrekking tot onroerende goederen en onroerende zakelijke rechten zoals de huurfinanciering van onroerend goederen aan derden,het aankopen,verkopen,ruilen,bouwen,verbouwen,onderhouden,verhuren,huren,verkavelen,prospecteren en uitbaten van onroerende goederen
- De aan- en verkoop,huur en verhuur van roerende goederen,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit voorwerp in verband staan en die van aard zijn de opbrengst van de roerende en onroerende goederen te bevorderen,alsmede zich borg stellen voor het goede verloop van verbintenissen door derde personen aangegaan die het genot zouden hebben van deze roerende en onroerende goederen
- Het aanleggen,het oordeelkundig uitbouwen en beheren van een roerend patrimonium,alle verrichtingen met betrekking tot roerende goederen en rechten,van welke aard ook,zoals het verwerven door inschrijving of aankoop en het beheren van aandelen,obligaties,kasbons of andere roerende waarden,van welke vorm ook,van Belgische of buitenlandse,bestaande of nog op te richten rechtspersonen en ondernemingen
- De vennootschap mag alle verrichtingen stellen van commerciële,industriële,onroerende,roerende of financiële aard die rechtstreeks of onrechtstreeks met haar voorwerp verwant of verknocht zijn of de verwezenlijking ervan kunnen bevorderen
- De aankoop en verkoop,de huur en verhuur van aanhangwagens of trailers (voor dieren)
- De aankoop en verkoop,de huur en verhuur van kunst in de ruimste zin van het woord
- De aankoop en verkoop van kledij en accessoires in de ruimste zin van het woord
- De aankoop en verkoop van allerhande voedingsproducten en voedingssupplementen
- De aankoop en verkoop,de huur en verhuur van rollend materieel (o.a. fietsen)
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- GILTEC PLUS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, voor zover geen wijziging taalregime”
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Second Friday of December at 18:00
Articles of association, deed of 05-04-2023 (in Dutch)
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31403F0019/00Y000 | Flanders | 198 m² | 1 · 76 m² | 9.0 m · 3 |