GITS
ActiveSummary
The computed 12-month bankruptcy probability of GITS is 9.2% (elevated). For GITS, one annual filing is missing. The 2024 annual accounts show negative equity (-€64,551) and a net result of €6,368. Equity has been shrinking by about 4.4% per year since 2019. Its solvency ranks better than 5% of 35,969 sector peers (NACE 43, financial year 2024). The company has been active since 1993 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 30-12-1993 Normal situation
- Activity
- Installation of electric heating, air conditioning, cooling and ventilation NACE 43222and 1 other
- Establishment unit
- 2.065.184.834 9300 Aalst, since 20-01-1994
- Financial year end
- 31 July
- Peppol
- Reachable since 01-06-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 9.2%
2024 figures too old to score
Annual accounts to 31-07-2024
- Gross margin
- €35,544
- ▲ 174%
- Turnover
- ≈ €210,000
- estimated
- Profit
- €6,368
- Equity
- -€64,551
- ▲ 9.0%
- Total assets
- €252,121
- ▲ 5.2%
- Negative equity on 31-07-2024
- 2025 accounts not filed, 248 days past the deadline
Signalsraises riskFigures for financial year 2024 (filed on 24-06-2026)1 financial year not filed after the legal deadline; last filed accounts filed 481 days late; 3 of the last 3 accounts lateSector: Specialised construction activities (NACE 43)Annual accounts not filed2024 accounts filed 481 days latelowers riskFounded in 1993Show the evidence
Bankruptcy probability
No current score
Figures too old
The latest figures are for FY 2024. They are too old for a current score.
Bankruptcy probability: Elevated
Filing: One annual filing is missing
Financial strength, FY 2024 · tick: 2023
Weak
Solvency
0=
equity -25.6% of total assets
Liquidity
1-2
short-term debt 125.6% · cash 1.0%
Profitability
39+1
return on assets 2.5%
Bankruptcy probability within 12 months
9.2%
Elevated
0%0.5%1.5%4%10%≥ 25%
About 9 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 7.8%
01-2025: 3.3%▼ -4.5 percentage points vs 12-2024lowest value
02-2025: 3.6%▲ +0.3 percentage points vs 01-2025
03-2025: 4.0%▲ +0.4 percentage points vs 02-2025
04-2025: 4.4%▲ +0.4 percentage points vs 03-2025
05-2025: 4.8%▲ +0.4 percentage points vs 04-2025
06-2025: 4.7%▼ -0.1 percentage points vs 05-2025
07-2025: 5.5%▲ +0.8 percentage points vs 06-2025
08-2025: 9.1%▲ +3.6 percentage points vs 07-2025
09-2025: 9.1%● unchanged vs 08-2025
10-2025: 9.7%▲ +0.6 percentage points vs 09-2025
11-2025: 8.8%▼ -0.9 percentage points vs 10-2025
12-2025: 8.8%● unchanged vs 11-2025
01-2026: 8.8%● unchanged vs 12-2025
02-2026: 8.8%● unchanged vs 01-2026
03-2026: 11.1%▲ +2.3 percentage points vs 02-2026
04-2026: 11.3%▲ +0.2 percentage points vs 03-2026highest value
05-2026: 11.3%● unchanged vs 04-2026highest value
06-2026: 11.2%▼ -0.1 percentage points vs 05-2026
07-2026: 9.0%▼ -2.2 percentage points vs 06-2026
08-2026: 9.0%● unchanged vs 07-2026
09-2026: 9.0%● unchanged vs 08-2026
10-2026: 9.2%▲ +0.2 percentage points vs 09-2026
11-2026: 9.2%● unchanged vs 10-2026
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Signals
Six signals.
lowers riskraises risk
raises risk · Annual accounts not filed
The financial year that closed on 31-07-2025 was due at the National Bank by 28-02-2026. Nothing is on record, 248 days later.
NBB · 10 filingsPosition against the passed deadline
31-07-2025 year end28-02-2026 deadline03-11-2026 today
raises risk · 2024 accounts filed 481 days late
The financial year that closed on 31-07-2024 was due by 28-02-2025 and was filed on 24-06-2026, 481 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
481 days late
2023
277 days late
2022
638 days late
2021
1003 days late
2020
19 days late
2019
171 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 432 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (1)
Financials
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 28 February 2026 The financial year closed on 31 July 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 3 November 2026.
Annual accounts 2024 filed on 24-06-2026 at the NBB all 30 filings
Turnover
≈ €210,000
Estimated: probably between €150,000 and €240,000
Total assets
€252,121▲ 5.2%
2023 · €239,570
Net result
€6,368
2023 · -€1,823
Working capital
-€69,446▲ 10.8%
2023 · -€77,871
Multi-year overview
2019 to 2024, 6 financial yearsOperating result
€28,251
▲ 22×
2024
20192024
Net result
€6,368
2024
middle half of the sector
20192024
Equity
-€64,551
▲ 9.0%
2024
lowest quarter of the sector
20192024
Total assets
€252,121
▲ 5.2%
2024
middle half of the sector
20192024
Debt
€316,672
▲ 2.0%
2024
20192024
Working capital
-€69,446
▲ 10.8%
2024
lowest quarter of the sector
20192024
Solvency
-25.6%
▲ 4.0pp
2024
lowest quarter of the sector
20192024
Current ratio
0.78
▲ 0.03
2024
lowest quarter of the sector
20192024
Return on assets (ROA)
2.5%
▲ 3.3pp
2024
middle half of the sector
20192024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202220232024
Operating result-€1,491-€313-€6,012€821€1,275▲ 55.2%€28,251▲ 22×
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%€6,368within the sector's middle half
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%-€64,551below the sector's middle half▲ 9.0%
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%€252,121within the sector's middle half▲ 5.2%
Debt€310,190-€313,231▲ 1.0%€318,806▲ 1.8%€316,187▼ 0.8%€310,488▼ 1.8%€316,672▲ 2.0%
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%-€69,446below the sector's middle half▲ 10.8%
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-25.6%below the sector's middle half▲ 4.0pp
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▲ 0.010.78below the sector's middle half▲ 0.03
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▲ 0.6pp2.5%within the sector's middle half▲ 3.3pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2024 is over 22 times that of 2023 and the highest since 2020. It is the third rise in a row, after the fall in 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €252,121
Fixed assets
€4,895 ▼ 29.6%
Current assets
€247,226 ▲ 6.3%
Equity and liabilities
Equity-€64,551
Debt€316,672
Equity is negative. Debt (€316,672) exceeds the balance-sheet total (€252,121).
Key figures and ratios
EBITDA
€30,309▲
2023 · €7,663
Cash flow
€8,426▲
2023 · €4,565
Quick ratio
0.51▼
2023 · 0.54
Interest coverage
2.00▼
2023 · 2.42
Debt ≤ 1 year
€316,672▲
2023 · €310,488
Income taxes
€7,470
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,598 | €12,598 | €12,599 | €12,276 | €6,388 | €2,058 | ▼ 67.8% |
| Other operating charges640/8 | - | - | €9,774 | €4,803 | €5,293 | €5,235 | ▼ 1.1% |
| Gross operating margin9900 | €28,773 | €16,247 | €16,361 | €17,900 | €12,956 | €35,544 | ▲ 174% |
| Operating profit (loss)9901 | -€1,491 | €313 | -€6,012 | €821 | €1,275 | €28,251 | ▲ 22× |
| Financial income75/76B | - | - | €1 | €16 | €66 | €716 | ▲ 986% |
| Recurring financial income75 | €17 | €8 | €1 | €16 | €66 | €716 | ▲ 986% |
| Financial charges65/66B | - | - | €3,247 | €4,118 | €3,164 | €15,128 | ▲ 378% |
| Recurring financial charges65 | €2,849 | €3,220 | €3,247 | €4,118 | €3,164 | €15,128 | ▲ 378% |
| Profit (loss) for the period before taxes9903 | -€4,324 | -€2,898 | -€9,258 | -€3,280 | -€1,823 | €13,838 | - |
| Income taxes67/77 | - | - | - | - | - | €7,470 | - |
| Profit (loss) for the period9904 | -€4,324 | -€2,898 | -€9,258 | -€3,280 | -€1,823 | €6,368 | - |
| Profit (loss) for the period to be appropriated9905 | -€4,324 | -€2,898 | -€9,258 | -€3,280 | -€1,823 | €6,368 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €256,531 | €256,673 | €252,991 | €247,091 | €239,570 | €252,121 | ▲ 5.2% |
| Fixed assets21/28 | €50,813 | €38,215 | €25,616 | €13,341 | €6,953 | €4,895 | ▼ 29.6% |
| Tangible fixed assets22/27 | €49,539 | €36,941 | €24,342 | €12,066 | €5,678 | €3,620 | ▼ 36.2% |
| Land and buildings22 | - | - | €23,812 | €11,801 | €5,678 | €3,620 | ▼ 36.2% |
| Plant, machinery and equipment23 | - | - | €530 | €265 | - | - | - |
| Financial fixed assets28 | €1,274 | €1,274 | €1,274 | €1,274 | €1,274 | €1,274 | = |
| Current assets29/58 | €205,718 | €218,458 | €227,374 | €233,750 | €232,617 | €247,226 | ▲ 6.3% |
| Stocks and contracts in progress3 | €64,002 | €69,189 | €79,749 | €74,043 | €65,457 | €84,331 | ▲ 28.8% |
| Stocks30/36 | - | - | €79,749 | €74,043 | €65,457 | €84,331 | ▲ 28.8% |
| Amounts receivable within one year40/41 | €141,131 | €147,228 | €144,637 | €154,713 | €162,206 | €160,370 | ▼ 1.1% |
| Trade receivables40 | - | - | €125,850 | €136,438 | €142,272 | €133,762 | ▼ 6.0% |
| Other amounts receivable41 | - | - | €18,787 | €18,274 | €19,934 | €26,608 | ▲ 33.5% |
| Cash at bank and in hand54/58 | €584 | €1,696 | €2,599 | €4,690 | €4,954 | €2,526 | ▼ 49.0% |
| 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 | €252,121 | ▲ 5.2% |
| Equity10/15 | -€53,659 | -€56,558 | -€65,815 | -€69,096 | -€70,919 | -€64,551 | ▲ 9.0% |
| Contributions10/11 | €19,000 | - | €19,000 | €19,000 | €19,000 | €19,000 | = |
| Reserves13 | €9,993 | €9,993 | €9,993 | €9,993 | €9,993 | €9,993 | = |
| Non-distributable reserves130/1 | - | - | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Reserves not available under the articles1311 | - | - | €1,900 | €1,900 | €1,900 | €1,900 | = |
| Distributable reserves133 | - | - | €8,093 | €8,093 | €8,093 | €8,093 | = |
| Profit (loss) carried forward14 | -€82,653 | -€85,551 | -€94,809 | -€98,089 | -€99,912 | -€93,544 | ▲ 6.4% |
| Amounts payable17/49 | €310,190 | €313,231 | €318,806 | €316,187 | €310,488 | €316,672 | ▲ 2.0% |
| Amounts payable within one year42/48 | €310,190 | €313,231 | €318,806 | €316,187 | €310,488 | €316,672 | ▲ 2.0% |
| Financial debts43 | - | - | €25,181 | €23,946 | €17,987 | €24,544 | ▲ 36.5% |
| Credit institutions430/8 | - | - | €25,181 | €23,946 | €17,987 | €24,544 | ▲ 36.5% |
| Trade debts44 | €6,747 | €6,064 | €2,150 | €411 | €598 | €2,554 | ▲ 327% |
| Suppliers440/4 | - | - | €2,150 | €411 | €598 | €2,554 | ▲ 327% |
| Other amounts payable47/48 | - | - | €291,475 | €291,830 | €291,904 | €289,573 | ▼ 0.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,324 | -€2,898 | -€9,258 | -€3,280 | -€1,823 | €6,368 | - |
| + Depreciation and write-downs630 | €12,598 | €12,598 | €12,599 | €12,276 | €6,388 | €2,058 | ▼ 67.8% |
| Operating cash flow (approximation) | €8,275 | €9,700 | €3,341 | €8,995 | €4,565 | €8,426 | ▲ 84.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €1,112 | €903 | €2,091 | €263 | -€2,428 | - |
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 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-07-2024 | micro format | 24-06-2026 | 2026-00208396 | |
| 31-07-2023 | micro format | 02-12-2024 | 2024-00607920 | |
| 31-07-2022 | micro format | 27-11-2024 | 2024-00607405 | |
| 31-07-2021 | micro format | 27-11-2024 | 2024-00607404 | |
| 31-07-2020 | abbreviated format | 19-03-2021 | 2021-08000450 | |
| 31-07-2019 | abbreviated format | 18-08-2020 | 2020-43400254 | |
| 31-07-2018 | abbreviated format | 12-03-2019 | 2019-07100465 | |
| 31-07-2017 | abbreviated format | 16-10-2018 | 2018-69500309 | |
| 31-07-2016 | abbreviated format | 28-02-2017 | 2017-05600067 | |
| 31-07-2015 | abbreviated format | 25-11-2016 | 2016-68900093 |
Board & ownership
Directors
Directors
1 director
Podevyn Frank
Current
Director · listed in the 2024 annual accounts, filed on 24-06-2026
Owners and capital
Owners
Network & group
GITS shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of GITS. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
2026
24-06
micro format · 481 days late
2024
02-12
micro format · 277 days late
27-11
micro format · 638 days late
27-11
micro format · 1003 days late
31-07
Financial
Back to profitnet €6,368
The net result is €6,368, after 5 loss-making years.
2021
31-07
Financial
Weakest financial yearnet -€9,258
The net result drops to -€9,258, the lowest from 2019 to 2024. It recovers the following year.
19-03
abbreviated format · 19 days late
2020
18-08
abbreviated format · 171 days late
2019
12-03
abbreviated format · 12 days late
2018
16-10
abbreviated format · 230 days late
2017
28-02
abbreviated format · on the deadline day
2016
25-11
abbreviated format · 270 days late
1994
26-01
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
GITS in Dutch
Enterprise number
0451.648.331
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
30-12-1993
Entity type
Legal entity
Registered office and establishments
Registered office
Hammestraat 36, 9300 Aalst, Belgium
Establishment unit
GITS, Weverijstraat 13, 9300 Aalst since 20-01-1994 · unit number 2.065.184.8343320001 Installation of industrial machinery and equipment
Activities
NACEBEL 202543222
Installation of electric heating, air conditioning, cooling and ventilation main activity
41001
General construction of residential buildings
Codes under NACEBEL 2008
43222
Specialised construction activities main activity
41201
General construction of buildings
Codes under NACEBEL 2003
45331
main activity
45211
Invoicing and payment
VAT number
BE 0451.648.331
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0451.648.331
Financial year and general meeting
Accounts at the NBBFinancial year end
31-07
Sites & property
Location
Buildings and parcels at the addresses
Ground area
3,139 m²
Building footprint
913 m²
Building volume
5,665 m³
Tallest building: 11.5 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 41303D0114/00A000 | Flanders | 2,357 m² | 1 · 783 m² | 9.2 m · 2 |
| 41303D0749/00N003 | Flanders | 782 m² | 1 · 130 m² | 11.5 m · 2 |