GITEL
ActiveSummary
GITEL has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €256,321 and a net result of €18,771. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 95% of 14173 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+15
Solvency100=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23,000 at 30 days acceptable
Liquidity ample (current ratio 23.77 against 72.28 in 2024; short-term debt: 1.3% and cash: 27.7% of total assets), and 1.7% of the assets are financed with debt.
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Signals
Five 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
98.3%
Return on assets
7.2%
Age of the figures
9 mo
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 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
14 d early
2023
54 d early
2022
54 d early
2021
61 d early
2020
47 d early
2019
38 d early
← 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 46 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€256,321▲ 7.9%
2024 · €237,550
Total assets
€260,821▲ 7.5%
2024 · €242,683
Net result
€18,771
2024 · -€10,570
Working capital
€78,186▲ 13.9%
2024 · €68,641
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€9,960€208-€19,798-€10,962▲ 44.6%€18,403
Net result-€10,005€160-€19,570-€10,570▲ 46.0%€18,771
Equity€267,529▼ 3.6%€267,689▲ 0.1%€248,119▼ 7.3%€237,550▼ 4.3%€256,321▲ 7.9%
Total assets€272,997▼ 5.4%€271,905▼ 0.4%€257,190▼ 5.4%€242,683▼ 5.6%€260,821▲ 7.5%
Debt€5,468▼ 50.5%€4,216▼ 22.9%€9,071▲ 115%€5,133▼ 43.4%€4,500▼ 12.3%
Working capital€118,780▲ 6.6%€118,982▲ 0.2%€102,098▼ 14.2%€68,641▼ 32.8%€78,186▲ 13.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €18,403 after a loss of €10,962 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €260,821
Fixed assets
€179,201 ▲ 3.5%
Current assets
€81,620 ▲ 17.3%
Equity and liabilities €260,821
Equity
€256,321 ▲ 7.9%
Debt
€4,500 ▼ 12.3%
Debt's share of the balance-sheet total falls from 2.1% to 1.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€39,626▲
2024 · €9,280
Cash flow
€39,995▲
2024 · €9,672
Current ratio
23.77▼
2024 · 72.28
Debt to equity
0.02▼
2024 · 0.02
ROE
7.3%▲
2024 · -4.4%
ROA
7.2%▲
2024 · -4.4%
Interest coverage
880.58▲
2024 · 213.33
Debt ≤ 1 year
€3,434▲
2024 · €963
Debt > 1 year
€0▼
2024 · €3,300
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,553 | €20,052 | €20,070 | €20,242 | €21,223 | ▲ 4.8% |
| Other operating charges640/8 | €10,539 | €10,921 | €11,824 | €12,369 | €12,895 | ▲ 4.3% |
| Gross operating margin9900 | €19,132 | €31,181 | €12,096 | €21,648 | €52,521 | ▲ 143% |
| Operating profit (loss)9901 | -€9,960 | €208 | -€19,798 | -€10,962 | €18,403 | ▲ 268% |
| Financial income75/76B | - | - | €268 | €436 | €413 | ▼ 5.2% |
| Recurring financial income75 | - | - | €268 | €436 | €413 | ▼ 5.2% |
| Financial charges65/66B | €45 | €48 | €40 | €44 | €45 | ▲ 3.4% |
| Recurring financial charges65 | €45 | €48 | €40 | €44 | €45 | ▲ 3.4% |
| Profit (loss) for the period before taxes9903 | -€10,005 | €160 | -€19,570 | -€10,570 | €18,771 | ▲ 278% |
| Profit (loss) for the period9904 | -€10,005 | €160 | -€19,570 | -€10,570 | €18,771 | ▲ 278% |
| Profit (loss) for the period to be appropriated9905 | -€10,005 | €160 | -€19,570 | -€10,570 | €18,771 | ▲ 278% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €272,997 | €271,905 | €257,190 | €242,683 | €260,821 | ▲ 7.5% |
| Fixed assets21/28 | €153,261 | €152,246 | €151,160 | €173,079 | €179,201 | ▲ 3.5% |
| Tangible fixed assets22/27 | €153,261 | €152,246 | €151,160 | €173,079 | €179,201 | ▲ 3.5% |
| Land and buildings22 | €86,853 | €86,853 | €86,853 | €86,853 | €86,853 | = |
| Plant, machinery and equipment23 | €66,408 | €65,393 | €64,307 | €86,226 | €92,348 | ▲ 7.1% |
| Current assets29/58 | €119,736 | €119,658 | €106,030 | €69,604 | €81,620 | ▲ 17.3% |
| Amounts receivable within one year40/41 | €8,057 | €3,886 | €79 | €202 | €1,642 | ▲ 712% |
| Trade receivables40 | - | €3,886 | €0 | - | - | - |
| Other amounts receivable41 | €8,057 | €0 | €79 | €202 | €1,642 | ▲ 712% |
| Current investments50/53 | €60,557 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €43,603 | €106,066 | €98,042 | €62,488 | €72,174 | ▲ 15.5% |
| Deferred charges and accrued income490/1 | €7,519 | €9,706 | €7,908 | €6,914 | €7,805 | ▲ 12.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €272,997 | €271,905 | €257,190 | €242,683 | €260,821 | ▲ 7.5% |
| Equity10/15 | €267,529 | €267,689 | €248,119 | €237,550 | €256,321 | ▲ 7.9% |
| Contributions10/11 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Capital10 | - | - | €250,000 | €250,000 | €250,000 | = |
| Issued capital100 | - | - | €250,000 | €250,000 | €250,000 | = |
| Outside capital11 | €250,000 | €250,000 | €0 | - | - | - |
| Other1109/19 | €250,000 | €250,000 | €0 | - | - | - |
| Reserves13 | €50,310 | €50,310 | €50,310 | €50,310 | €50,310 | = |
| Non-distributable reserves130/1 | €49,579 | €49,579 | €49,579 | €49,579 | €49,579 | = |
| Legal reserve130 | - | - | €49,579 | €49,579 | €49,579 | = |
| Reserves not available under the articles1311 | €49,579 | €49,579 | €0 | - | - | - |
| Distributable reserves133 | €731 | €731 | €731 | €731 | €731 | = |
| Profit (loss) carried forward14 | -€32,781 | -€32,621 | -€52,190 | -€62,760 | -€43,989 | ▲ 29.9% |
| Amounts payable17/49 | €5,468 | €4,216 | €9,071 | €5,133 | €4,500 | ▼ 12.3% |
| Amounts payable after more than one year17 | €3,300 | €3,300 | €3,300 | €3,300 | €0 | ▼ 100% |
| Other amounts payable178/9 | €3,300 | €3,300 | €3,300 | €3,300 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €956 | €676 | €3,932 | €963 | €3,434 | ▲ 257% |
| Trade debts44 | €413 | €0 | €3,300 | €258 | €3,434 | ▲ 1,229% |
| Suppliers440/4 | €413 | €0 | €3,300 | €258 | €3,434 | ▲ 1,229% |
| Other amounts payable47/48 | €542 | €676 | €631 | €705 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €1,213 | €240 | €1,839 | €870 | €1,066 | ▲ 22.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,005 | €160 | -€19,570 | -€10,570 | €18,771 | ▲ 278% |
| + Depreciation and write-downs630 | €18,553 | €20,052 | €20,070 | €20,242 | €21,223 | ▲ 4.8% |
| Operating cash flow (approximation) | €8,548 | €20,212 | €501 | €9,672 | €39,995 | ▲ 313% |
| Investment in fixed assets (approximation) | - | -€19,038 | -€18,984 | -€42,160 | -€27,346 | ▲ 35.1% |
| Change in cash | - | €62,463 | -€8,024 | -€35,554 | €9,685 | ▲ 127% |
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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €18,771
Net result €18,771 after 2 loss-making years.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 72.28
Current ratio from 26.97 to 72.28; short-term debt falls from €3,932 to €963.
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€19,570
Net result drops to -€19,570, the lowest in the series; recovery starts the following year.
07-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €160
Net result €160 after one loss-making year.
31-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity times 11current ratio 125.29
Current ratio from 11.08 to 125.29; short-term debt falls from €11,055 to €956.
14-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €1,769
Net result €1,769 after one loss-making year.
Show earlier events
23-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
17-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-06
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.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Aalst
Ground area
176 m²
Building footprint
122 m²
Volume, LiDAR
824 m³
Parcel 41303D0749/00B003, Flanders · tallest building 11.3 m, ±3 floors. Linked by address, not a title deed.
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41303D0749/00B003 | Flanders | 176 m² | 1 · 122 m² | 11.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
BAGRO
BE 0435.015.801
Gent · Eq €256,201
EMILAR
BE 0457.921.855
Heist-op-den-Berg · Eq €256,179
LOUISE BONTE INVEST
BE 0891.673.983
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FRUY IMMO
BE 0743.554.290
Kuurne · Eq €256,097
CATIMO
BE 0464.313.363
Ukkel · Eq €256,648
Of 12,042 companies in sector 68203 we hold annual accounts for 5,993. 4,364 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded06-10-1989
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.