GITS
ActiveSummary
The computed 12-month bankruptcy probability of GITS is 1.8% (moderate). For GITS, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show negative equity (-€70,919) and a net result of -€1,823. Equity is shrinking by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 5% of 33680 sector peers (fiscal year 2023). The company has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability38▼-6
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2023Solvency, return and age of the figures
Solvency
-29.6%
Return on assets
-0.8%
Age of the figures
38 mo
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
Specialised construction activities (NACE 43)
about 85% more 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
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-07-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-07-2024 close28-02-2025 deadline28-09-2026 today
raises risk · Filed more than 90 days late
The financial year that closed on 31-07-2023 was due by 29-02-2024 and was filed on 02-12-2024, 277 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
277 d late
2022
638 d late
2021
1003 d late
2020
19 d late
2019
171 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 422 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2023, micro schema
Equity
-€70,919▼ 2.6%
2022 · -€69,096
Total assets
€239,570▼ 3.0%
2022 · €247,091
Net result
-€1,823▲ 44.4%
2022 · -€3,280
Working capital
-€77,871▲ 5.5%
2022 · -€82,436
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line20192020202120222023
Operating result-€1,491-€313-€6,012€821€1,275▲ 55.2%
Net result-€4,324--€2,898below the sector's middle half▲ 33.0%-€9,258below the sector's middle half▼ 219%-€3,280below the sector's middle half▲ 64.6%-€1,823below the sector's middle half▲ 44.4%
Equity-€53,659--€56,558below the sector's middle half▼ 5.4%-€65,815below the sector's middle half▼ 16.4%-€69,096below the sector's middle half▼ 5.0%-€70,919below the sector's middle half▼ 2.6%
Total assets€256,531-€256,673below the sector's middle half▲ 0.1%€252,991within the sector's middle half▼ 1.4%€247,091within the sector's middle half▼ 2.3%€239,570within the sector's middle half▼ 3.0%
Debt€310,190-€313,231▲ 1.0%€318,806▲ 1.8%€316,187▼ 0.8%€310,488▼ 1.8%
Working capital-€104,473--€94,772below the sector's middle half▲ 9.3%-€91,432below the sector's middle half▲ 3.5%-€82,436below the sector's middle half▲ 9.8%-€77,871below the sector's middle half▲ 5.5%
Solvency-20.9%--22.0%below the sector's middle half▼ 1.1pp-26.0%below the sector's middle half▼ 4.0pp-28.0%below the sector's middle half▼ 1.9pp-29.6%below the sector's middle half▼ 1.6pp
Current ratio0.66-0.70below the sector's middle half▲ 0.030.71below the sector's middle half▲ 0.020.74below the sector's middle half▲ 0.030.75below the sector's middle half▲ 0.01
Return on assets (ROA)-1.7%--1.1%below the sector's middle half▲ 0.6pp-3.7%below the sector's middle half▼ 2.5pp-1.3%below the sector's middle half▲ 2.3pp-0.8%below the sector's middle half▲ 0.6pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed two years in a row; 2023 is 55% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €239,570
Fixed assets
€6,953 ▼ 47.9%
Current assets
€232,617 ▼ 0.5%
Key figures and ratios
EBITDA
€7,663▼
2022 · €13,097
Cash flow
€4,565▼
2022 · €8,995
Quick ratio
0.54▲
2022 · 0.51
Debt to equity
-4.38▲
2022 · -4.58
Interest coverage
2.42▼
2022 · 3.18
Debt ≤ 1 year
€310,488▼
2022 · €316,187
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,598 | €12,598 | €12,599 | €12,276 | €6,388 | ▼ 48.0% |
| Other operating charges640/8 | - | - | €9,774 | €4,803 | €5,293 | ▲ 10.2% |
| Gross operating margin9900 | €28,773 | €16,247 | €16,361 | €17,900 | €12,956 | ▼ 27.6% |
| Operating profit (loss)9901 | -€1,491 | €313 | -€6,012 | €821 | €1,275 | ▲ 55.2% |
| Financial income75/76B | - | - | €1 | €16 | €66 | ▲ 304% |
| Recurring financial income75 | €17 | €8 | €1 | €16 | €66 | ▲ 304% |
| Financial charges65/66B | - | - | €3,247 | €4,118 | €3,164 | ▼ 23.2% |
| Recurring financial charges65 | €2,849 | €3,220 | €3,247 | €4,118 | €3,164 | ▼ 23.2% |
| Profit (loss) for the period before taxes9903 | -€4,324 | -€2,898 | -€9,258 | -€3,280 | -€1,823 | ▲ 44.4% |
| Profit (loss) for the period9904 | -€4,324 | -€2,898 | -€9,258 | -€3,280 | -€1,823 | ▲ 44.4% |
| Profit (loss) for the period to be appropriated9905 | -€4,324 | -€2,898 | -€9,258 | -€3,280 | -€1,823 | ▲ 44.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €256,531 | €256,673 | €252,991 | €247,091 | €239,570 | ▼ 3.0% |
| Fixed assets21/28 | €50,813 | €38,215 | €25,616 | €13,341 | €6,953 | ▼ 47.9% |
| Tangible fixed assets22/27 | €49,539 | €36,941 | €24,342 | €12,066 | €5,678 | ▼ 52.9% |
| Land and buildings22 | - | - | €23,812 | €11,801 | €5,678 | ▼ 51.9% |
| Plant, machinery and equipment23 | - | - | €530 | €265 | - | - |
| Financial fixed assets28 | €1,274 | €1,274 | €1,274 | €1,274 | €1,274 | = |
| Current assets29/58 | €205,718 | €218,458 | €227,374 | €233,750 | €232,617 | ▼ 0.5% |
| Stocks and contracts in progress3 | €64,002 | €69,189 | €79,749 | €74,043 | €65,457 | ▼ 11.6% |
| Stocks30/36 | - | - | €79,749 | €74,043 | €65,457 | ▼ 11.6% |
| Amounts receivable within one year40/41 | €141,131 | €147,228 | €144,637 | €154,713 | €162,206 | ▲ 4.8% |
| Trade receivables40 | - | - | €125,850 | €136,438 | €142,272 | ▲ 4.3% |
| Other amounts receivable41 | - | - | €18,787 | €18,274 | €19,934 | ▲ 9.1% |
| Cash at bank and in hand54/58 | €584 | €1,696 | €2,599 | €4,690 | €4,954 | ▲ 5.6% |
| Deferred charges and accrued income490/1 | - | - | €389 | €304 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €256,531 | €256,673 | €252,991 | €247,091 | €239,570 | ▼ 3.0% |
| Equity10/15 | -€53,659 | -€56,558 | -€65,815 | -€69,096 | -€70,919 | ▼ 2.6% |
| Contributions10/11 | €19,000 | - | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €9,993 | €9,993 | €9,993 | €9,993 | €9,993 | = |
| Non-distributable reserves130/1 | - | - | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | - | - | €1,900 | €1,900 | €1,900 | = |
| Distributable reserves133 | - | - | €8,093 | €8,093 | €8,093 | = |
| Profit (loss) carried forward14 | -€82,653 | -€85,551 | -€94,809 | -€98,089 | -€99,912 | ▼ 1.9% |
| Amounts payable17/49 | €310,190 | €313,231 | €318,806 | €316,187 | €310,488 | ▼ 1.8% |
| Amounts payable within one year42/48 | €310,190 | €313,231 | €318,806 | €316,187 | €310,488 | ▼ 1.8% |
| Financial debts43 | - | - | €25,181 | €23,946 | €17,987 | ▼ 24.9% |
| Credit institutions430/8 | - | - | €25,181 | €23,946 | €17,987 | ▼ 24.9% |
| Trade debts44 | €6,747 | €6,064 | €2,150 | €411 | €598 | ▲ 45.4% |
| Suppliers440/4 | - | - | €2,150 | €411 | €598 | ▲ 45.4% |
| Other amounts payable47/48 | - | - | €291,475 | €291,830 | €291,904 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,324 | -€2,898 | -€9,258 | -€3,280 | -€1,823 | ▲ 44.4% |
| + Depreciation and write-downs630 | €12,598 | €12,598 | €12,599 | €12,276 | €6,388 | ▼ 48.0% |
| Operating cash flow (approximation) | €8,275 | €9,700 | €3,341 | €8,995 | €4,565 | ▼ 49.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €1,112 | €903 | €2,091 | €263 | ▼ 87.4% |
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
2024
02-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 277 days late
27-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 638 days late
27-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1003 days late
2021
31-07
Financial
Weakest financial yearnet -€9,258
Net result drops to -€9,258, the lowest in the series; recovery starts the following year.
19-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 19 days late
2020
18-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 171 days late
2019
12-03
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 12 days late
2018
16-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 230 days late
2017
28-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
25-11
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 270 days late
25-11
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 636 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Aalst · 1 establishment unit since 1994
Ground area
3,139 m²
Building footprint
913 m²
Volume, LiDAR
5,665 m³
2 parcels, Flanders · tallest building 11.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GITS
since 19942.065.184.834
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41303D0114/00A000 | Flanders | 2,357 m² | 1 · 783 m² | 9.2 m · 2 fl. |
| 41303D0749/00N003 | Flanders | 782 m² | 1 · 130 m² | 11.5 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 9,537 companies in sector 43222 we hold annual accounts for 5,668. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded30-12-1993
Fiscal year end31-07
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451648331
Also
9925:BE0451648331
Registered
01-06-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.