Giselan
ActiveSummary
The computed 12-month bankruptcy probability of Giselan is 7.2% (elevated). The 2025 annual accounts show negative equity (-€426,975) and a net result of -€105,741. Equity has been shrinking by about 21% per year since 2018. The company has been active since 1968 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active Normal situation
- Activity
- “De aan- en verkoop van alle breigoederen,merceriën,modeartikelen,lederwaren,confectieartikelen,evenals de fabricatie van dezelfde artikelen en alle…” (deed in Dutch)From the articles, 3 activitiesNo NACE code in the KBO yet
- Joint committees
- 100 Aanvullend Paritair Comité voor de werklieden
- 201 Paritair Comité voor de zelfstandige kleinhandel · annual accounts 2025
- Establishment unit
- 2.000.686.960 9320 Aalst, since 01-11-1965
- Financial year end
- 31 December
- Peppol
- Reachable since 01-12-2025
Board and ownership
- Verdoodt AnneManaging director
- Verbeiren BartDirector · since 06-05-2022
- Verdoodt MargrietDirector · since 06-05-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- 7.2%
- Gross margin
- €57,944
- ▼ 73.1%
- Turnover
- ≈ €160,000
- estimated
- Loss
- €105,741
- Equity
- -€426,975
- ▼ 32.9%
- Total assets
- €826,029
- ▼ 13.3%
- Staff
- 2.7 FTE
- =
- Negative equity on 31-12-2025
Score breakdownraises riskNegative equity -€426,975Loss of €105,741 (financial year 2025)No main activity registeredLiquidity: current ratio 0.01, cash €1,959, halvedShow the evidence
Checked score
About 7 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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 (no NACE code, micro). It does better than 5% of them on solvency, 3% on liquidity, 9% on profitability and 13% on growth.
The bankruptcy probability was computed on 01-11-2026 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. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 23 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 09-07-2026 at the NBB all 49 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is a loss of €82,460, after a profit of €30,321 in 2024. It is the lowest result since 2021.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 3 | 3 | - |
| full-time | 1 | 1 | 1 | 1 | - |
| part-time | 2 | 2 | 2 | 2 | - |
| in full-time equivalents | 2.7 | 2.7 | 2.7 | 2.7 | - |
| Average over the year, in full-time equivalents | 2.7 | 2.7 | 2.7 | 2.7 | 0.6 |
| On a permanent contract | 3 | 3 | 3 | 3 | - |
| Joined | - | - | - | - | 0 |
| Left | - | - | - | - | 3 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €6,690 | €3,093 | - | - | - |
| Depreciation and write-downs of the year | €31,259 | €29,927 | €18,583 | €18,583 | €7,787 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Companies with the same profile, two years later
Historical observationIn July 2024, 6,619 companies had the same profile as Giselan has now. Two years later, 4.5% had gone bankrupt and 84.5% were still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
Another 1.0% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Giselan itself is higher: 7.2% within 12 months. It rests on far more data about Giselan 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 6,619 companies, not a prediction for Giselan. 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €143,840 | €3,620 | €0 | - | €7,744 | - |
| Remuneration, social security and pensions62 | - | - | - | €103,680 | €140,848 | €146,605 | €152,104 | €115,188 | ▼ 24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,273 | €31,494 | €32,015 | €31,259 | €29,927 | €18,583 | €18,583 | €7,787 | ▼ 58.1% |
| Other operating charges640/8 | - | - | - | €10,514 | €10,773 | €10,305 | €14,755 | €17,429 | ▲ 18.1% |
| Non-recurring operating charges66A | - | - | - | - | - | €330 | €0 | - | - |
| Gross operating margin9900 | €130,631 | €110,609 | €6,632 | €221,877 | €108,871 | €139,069 | €215,762 | €57,944 | ▼ 73.1% |
| Operating profit (loss)9901 | -€66,745 | -€112,785 | -€117,445 | €76,423 | -€72,677 | -€36,754 | €30,321 | -€82,460 | - |
| Financial income75/76B | - | - | - | €4,256 | €4,939 | €2,878 | €2,734 | €178 | ▼ 93.5% |
| Recurring financial income75 | €5,904 | €5,046 | €7,660 | €4,256 | €4,939 | €2,878 | €2,734 | €178 | ▼ 93.5% |
| Financial charges65/66B | - | - | - | €23,393 | €20,914 | €20,564 | €25,174 | €23,750 | ▼ 5.7% |
| Recurring financial charges65 | €25,599 | €25,041 | €26,945 | €23,393 | €20,914 | €20,564 | €25,174 | €23,750 | ▼ 5.7% |
| Profit (loss) for the period before taxes9903 | -€86,440 | -€132,780 | -€136,729 | €57,287 | -€88,652 | -€54,439 | €7,881 | -€106,031 | - |
| Income taxes67/77 | €302 | €299 | €289 | €305 | €215 | €232 | €608 | -€290 | - |
| Profit (loss) for the period9904 | -€86,741 | -€133,080 | -€137,018 | €56,982 | -€88,867 | -€54,672 | €7,272 | -€105,741 | - |
| Profit (loss) for the period to be appropriated9905 | -€86,741 | -€133,080 | -€137,018 | €56,982 | -€88,867 | -€54,672 | €7,272 | -€105,741 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.6m | €1.3m | €1.3m | €1.1m | €1.0m | €1.0m | €1.0m | €0.8m | ▼ 13.3% |
| Fixed assets21/28 | €1.4m | €1.1m | €1.0m | €0.9m | €0.9m | €0.8m | €0.8m | €0.8m | ▼ 0.9% |
| Tangible fixed assets22/27 | €1.4m | €1.1m | €1.0m | €0.9m | €0.9m | €0.8m | €0.8m | €0.8m | ▼ 0.9% |
| Land and buildings22 | - | - | - | €0.9m | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 0.9% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Furniture and vehicles24 | - | - | - | €0.003m | €0.005m | €0.003m | €0.002m | €0.001m | ▼ 55.7% |
| Financial fixed assets28 | €0.002m | €98 | €98 | €0 | - | - | - | - | - |
| Current assets29/58 | €0.3m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.1m | €0.008m | ▼ 94.0% |
| Stocks and contracts in progress3 | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.08m | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | €0.2m | €0.1m | €0.1m | €0.08m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €444 | €0.001m | €0.002m | €0.001m | €480 | €0.001m | €0.002m | €0.001m | ▼ 58.7% |
| Trade receivables40 | - | - | - | €0 | - | €208 | €0.001m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €0.001m | €480 | €448 | €0.001m | €0.001m | ▼ 29.8% |
| Cash at bank and in hand54/58 | €0.01m | €0.01m | €0.02m | €0.06m | €0.04m | €0.04m | €0.04m | €0.002m | ▼ 95.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.007m | €0.006m | €0.008m | €0.007m | €0.005m | ▼ 27.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.6m | €1.3m | €1.3m | €1.1m | €1.0m | €1.0m | €1.0m | €0.8m | ▼ 13.3% |
| Equity10/15 | €0.03m | -€0.1m | -€0.2m | -€0.2m | -€0.3m | -€0.3m | -€0.3m | -€0.4m | ▼ 32.9% |
| Contributions10/11 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Capital10 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Issued capital100 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Reserves13 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Non-distributable reserves130/1 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Legal reserve130 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Distributable reserves133 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Profit (loss) carried forward14 | -€0.8m | -€0.9m | -€1.1m | -€1.0m | -€1.1m | -€1.1m | -€1.1m | -€1.2m | ▼ 9.3% |
| Amounts payable17/49 | €1.6m | €1.4m | €1.6m | €1.3m | €1.3m | €1.4m | €1.3m | €1.3m | ▼ 1.7% |
| Amounts payable after more than one year17 | €0.06m | €0.05m | €0.1m | €0.08m | €0.06m | €0.05m | €0.05m | €0.05m | = |
| Financial debts170/4 | - | - | - | €0.08m | €0.06m | €0.05m | €0.05m | €0.05m | = |
| Amounts payable within one year42/48 | €1.6m | €1.3m | €1.5m | €1.2m | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 1.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.02m | €0.007m | €0 | - | - |
| Financial debts43 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 15.5% |
| Credit institutions430/8 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 15.5% |
| Trade debts44 | €0.05m | €0.05m | €0.08m | €0.02m | €0.05m | €0.09m | €0.006m | €0.002m | ▼ 60.8% |
| Suppliers440/4 | - | - | - | €0.02m | €0.05m | €0.09m | €0.006m | €0.002m | ▼ 60.8% |
| Advances received on contracts in progress46 | - | - | - | €0.002m | €0.006m | €0.005m | €0.002m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.03m | €0.04m | €0.04m | €0.006m | ▼ 86.0% |
| Taxes450/3 | - | - | - | €0.01m | €0.008m | €0.01m | €0.02m | €0.006m | ▼ 61.0% |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.02m | €0.03m | €0.03m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | ▼ 1.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | €0.001m | €0.001m | €0.001m | €0.003m | ▲ 398% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€86,741 | -€133,080 | -€137,018 | €56,982 | -€88,867 | -€54,672 | €7,272 | -€105,741 | - |
| + Depreciation and write-downs630 | €33,273 | €31,494 | €32,015 | €31,259 | €29,927 | €18,583 | €18,583 | €7,787 | ▼ 58.1% |
| Operating cash flow (approximation) | -€53,468 | -€101,586 | -€105,003 | €88,241 | -€58,940 | -€36,089 | €25,855 | -€97,954 | - |
| Investment in fixed assets (approximation) | - | €281,671 | -€5,073 | €119,568 | -€3,093 | €330 | €0 | €0 | - |
| Change in cash | - | €3,573 | €7,261 | €38,763 | -€21,888 | -€1,341 | €3,700 | -€37,746 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 09-07-2026 | 2026-00273276 | NBB |
| 31-12-2024 | abbreviated format | 24-06-2025 | 2025-00175668 | |
| 31-12-2023 | abbreviated format | 27-06-2024 | 2024-00182730 | |
| 31-12-2022 | abbreviated format | 27-06-2023 | 2023-00177996 | |
| 31-12-2021 | abbreviated format | 29-08-2022 | 2022-20408947 | |
| 31-12-2020 | abbreviated format | 22-07-2021 | 2021-38800524 | |
| 31-12-2019 | abbreviated format | 09-06-2020 | 2020-15500492 | |
| 31-12-2018 | abbreviated format | 11-04-2019 | 2019-10100004 | |
| 31-12-2017 | abbreviated format | 26-04-2018 | 2018-10700557 | |
| 31-12-2016 | abbreviated format | 27-06-2017 | 2017-23000430 |
Board & ownership
Directors
Day-to-day management 1
Owners and capital
Capital transactions
- 09-01-2024 Capital stated in the deed · €749,939.65 · 597 shares
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Verdoodt Anne |
|
| Verdoodt Margriet |
|
| Verbeiren Bart |
|
| Verdoodt Frans |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Bestuursorgaan, algemene vergadering kan mandaat te allen tijde zonder opgave van redenen met onmiddellijke ingang beëindigen”
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Bij wet bepaalde gevallen, besluit algemene vergadering beraadslagend op wijze door wet vereist”
Articles of association, deed of 09-01-2024 (in Dutch)
Network & group
Giselan shares no director with another company.
Companies at the same address
1 other companyConnections & network
3 current directorsThe network starts from the directors of Giselan. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
09-01
Gazette deed
Amendment of the articlesCapital · Registered office clause · Power of attorney6 points ▸
- General meeting, “9320 Aalst,Hogeweg 103, proces-verbaal van 2023-11-28” (deed in Dutch)
- Other provision, “WVV, Vaststelling inwerkingtreding WVV” (deed in Dutch)
- Amendment of the articles
- Capital, €749,939.65
- Registered office clause, “blijft gevestigd, 9320 Aalst,Hogeweg 103” (deed in Dutch)
- Power of attorney
06-12
Gazette deed
Resignation: Verdoodt Frans (director)Reappointments: Verdoodt Anne (director) and Verdoodt Margriet (director) · Appointment: Verbeiren Bart (director) · Director discharge12 points ▸
- General meeting, 18-08-2022
- Director resignation, Verdoodt Frans (director)
- Director discharge, Verdoodt Frans
- Director reappointment, Verdoodt Anne (director)
- Director reappointment, Verdoodt Margriet (director)
- Director appointment, Verbeiren Bart (director)
- Other provision, “aanvaarding mandaat en verklaring geen verhindering” (deed in Dutch)
- Board meeting, 18-08-2022
- Director reappointment, Verdoodt Anne (managing director)
- Board composition, Verdoodt Anne ((gedelegeerd) bestuurder)
- Board composition, Verdoodt Margriet (director)
- Board composition, Verbeiren Bart (director)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
3 activities
- De aan- en verkoop van alle breigoederen,merceriën,modeartikelen,lederwaren,confectieartikelen,evenals de fabricatie van dezelfde artikelen en alle andere welke ermede rechtstreeks of onrechtstreeks in verband staan,dit alles in de meest uitgebreide betekenis dezer woorden.
- De vennootschap mag zowel voor eigen rekening als voor rekening van derden,zowel in België als in het buitenland,alle handelingen verrichten die rechtstreeks of onrechtstreeks met haar voorwerp verband houden of die van aard zouden zijn de verwezenlijking of de uitbreiding ervan te vergemakkelijken.
- De vennootschap mag door middel van inbreng,inschrijving,fusie of om het even welke andere wijze deelnemen aan alle ondernemingen,verenigingen en vennootschappen,zowel in België als in het buitenland,die een gelijkaardig doen nastreven of waarvan het voorwerp in enig verband let het hare staat.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 41014A1252/00P000 | Flanders | 822 m² | 1 · 652 m² | 11.0 m · 1 |
| 41014A1135/00C002 | Flanders | 515 m² | 1 · 315 m² | 13.8 m · 4 |