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GKW

Active
Private limited companyfounded 2005active for 21 yearsEssenestraat 20, 1740 Ternat, BelgiumKBO/BCE: BE 0876.638.686
Summary

GKW has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €7.9m and a net result of €584,283. Equity is growing by about 8.9% per year across the filed financial years. Its solvency ranks better than 36% of 2,435 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Risk analysisFollow ReportCompare
GKWActiveChecked score 67/100
Risk analysis ReportCompare

Overview

Activity
Other specialised construction activities
NACE 43990Construction of utility projects for electricity and telecommunications NACE 42220
2nd largest employer in Ternat, Construction sector3 sites
Size
€38.2mturnover 2025
Staff
116.8 FTE
Equity
€7.9m
Profit
€584,283
Financial health
67 Healthy Checked score 2025
Bankruptcy probabilitywithin 12 months
0.9%
Structure
  • AGA MANAGEMENTDirector
  • AHMALIZEDirector
  • GOCEN & BENLIDirector
2025 accounts filed 66 days late1 of 10 deeds summarised
Why 67raises riskLast filed accounts filed 66 days late; 1 of the last 3 lateLiquidity: current ratio 1.72, cash €305,360, halvedSector: Specialised construction activities (NACE 43)lowers riskFounded in 2005Show the evidence

Checked score

Score 2025
67 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 49% of its sector peers (NACE 43, medium-sized)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Average
Solvency 58+2
equity 32.8% of total assets
Liquidity 26-1
short-term debt 50.3% · cash 1.3%
Profitability 66+2
return on assets 2.4%
Bankruptcy probability, 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%

About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (243 companies, NACE 43, medium-sized)
Last 24 months 11-2024: 0.5% 12-2024: 0.5%● unchanged vs 11-2024 01-2025: 0.5%● unchanged vs 12-2024 02-2025: 0.4%▼ -0.1 percentage points vs 01-2025 03-2025: 0.4%● unchanged vs 02-2025 04-2025: 0.5%▲ +0.1 percentage points vs 03-2025 05-2025: 0.5%● unchanged vs 04-2025 06-2025: 0.5%● unchanged vs 05-2025 07-2025: 0.7%▲ +0.2 percentage points vs 06-2025 08-2025: 0.4%▼ -0.3 percentage points vs 07-2025 09-2025: 0.4%● unchanged vs 08-2025 10-2025: 0.4%● unchanged vs 09-2025 11-2025: 0.4%● unchanged vs 10-2025 12-2025: 0.4%● unchanged vs 11-2025 01-2026: 0.4%● unchanged vs 12-2025 02-2026: 0.4%● unchanged vs 01-2026lowest value 03-2026: 0.4%● unchanged vs 02-2026lowest value 04-2026: 0.4%● unchanged vs 03-2026 05-2026: 0.5%▲ +0.1 percentage points vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.5%● unchanged vs 06-2026 08-2026: 1.2%▲ +0.7 percentage points vs 07-2026 09-2026: 1.5%▲ +0.3 percentage points vs 08-2026highest value 10-2026: 0.9%▼ -0.6 percentage points vs 09-2026
Credit of up to €500,000 on 30-day terms is acceptable
Liquidity ample (current ratio 1.72, compared with 1.39 in 2024, above the usual 1.5; short-term debt: 50.3% and cash: 1.3% of total assets), but 67.2% of the assets are financed with debt and provisions.
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 43, medium-sized): better than 48% on solvency, 33% on liquidity, 54% on profitability and 60% on growth.

The bankruptcy probability was computed on 26-10-2026 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

Five signals.
lowers riskraises risk
raises risk · Last filed accounts filed 66 days late; 1 of the last 3 late
NBB · filings
raises risk · Liquidity: current ratio 1.72, cash €305,360, halved
NBB · annual accounts
lowers risk · Founded in 2005
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · Sector: Specialised construction activities (NACE 43)
KBO
raises risk · 2025 accounts filed 66 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-10-2026, 66 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filings
Deviation from the deadline
2025
66 days late
2024
24 days early
2023
19 days early
2022
29 days late
2021
12 days late
2020
2 days early
2019
2 days 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 9 days after the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 12 August (4 of the last 5 filed years within 36 days of that day).
Companies Code · seven months
Where today falls in the filing period
27-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Annual accounts filedfinancial year 2024 · full…
  3. Annual accounts filedfinancial year 2023 · full…

Key points

  • Positive: Result rose in 2025from €169,448 to €584,283 ▲ 245% View
  • Positive: Among the best 6% on equitysector median €460,461 · 2,435 companies €7.9m View
  • Caution: Latest accounts filed lateafter the legal deadline 66 days View
  • Positive: 8 profitable years in a rowprofit 2025: €584,283 8 years View
  • Known shareholdersaccounts at 31-12-2025 100% View
  • Flemish supportawarded from 2022 to 2025 €62,229 View

By topic

Financials

Financial year
2025
Turnover
€38.2m
Profit
€584,283
Solvency
32.8%
Turnover▲ 8.0%
Net result
20192025
Go to Financials

Board & ownership

Board
3 members
Known shareholders
100%
  • AGA MANAGEMENTDirector
  • AHMALIZEDirector
  • GOCEN & BENLIDirector
Go to Board & ownership

Timeline

Events
23
Since
2007
Next accounts
by 31-07-2027
  1. 31-12-2023Weakest financial year
  2. 29-08-2023Annual accounts filed
  3. 19-07-2023Resignations: AHMALIZE, GOCEN & BENLI and AGA…
Go to Timeline

Company details

Sites
3
Legal form
Private limited company
Activity
Other specialised construction activitiesNACE 43990
Founded
03-10-2005
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
15
Who signs
Each director alone
Annual meeting
Third Friday of June at 17:00
Purpose
“Het uitvoeren van grand- en graafwerken,alsmede het trekken en leggen van allerhande…” (deed in Dutch)
Go to Articles of association

Key facts about GKW

What is the company number of GKW?
0876.638.686. In Belgium the VAT number is the company number with BE in front: BE 0876.638.686.
Where is GKW based?
The registered office is at Essenestraat 20, 1740 Ternat.Company details
What does GKW do?
According to the KBO register, the main activity is other specialised construction activities (NACE 43990).
What is the legal form of GKW?
Private limited company (BV).
When was GKW founded?
On 03-10-2005.
Is GKW still active?
Yes, GKW is an active enterprise in the KBO register.
How many employees does GKW have?
On average 116.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of GKW?
€38.2m in financial year 2025, according to the filed annual accounts.
Is GKW profitable?
In financial year 2025, GKW made a profit of €584,283.
Where can I find the annual accounts of GKW?
GKW filed 19 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of GKW due?
By 31-07-2027, for financial year 2026.Timeline

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