Summary
GLADIATOR is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €5.0m and a net result of €344,490. Equity has been growing by about 18% per year since 2018. Its solvency ranks better than 93% of 40 sector peers (NACE 65, financial year 2025). The company has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 14-01-2013 Normal situation
- Activity
- Insurance, reinsurance and pension funding, except compulsory social security NACE 65200
- Establishment unit
- 2.216.282.427 5310 Eghezée, since 14-01-2013
- Financial year end
- 31 December
- Peppol
- Reachable since 05-05-2026
Board and ownership
Board
- ELSALIEManaging director · permanent representative Sébastien Croegaert
- AquiliusDirector
Shareholders
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Profit
- €344,490
- ▼ 35.4%
- Equity
- €5.0m
- ▲ 175%
- Total assets
- €5.4m
- ▲ 148%
SignalsneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
1 signal.
neutral
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 15-05-2026, 77 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
77 days early
2024
70 days early
2023
8 days early
2022
89 days early
2021
76 days early
2020
68 days early
2019
30 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 60 days before the deadline. In the sector (NACE 65), the median for financial year 2024 was 29 days before the deadline, and 28% 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 16 May (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 15-05-2026 PDF all 13 filings
Equity
€5.0m▲ 175%
2024 · €1.8m
Net result
€344,490▼ 35.4%
2024 · €533,005
Total assets
€5.4m▲ 148%
2024 · €2.2m
Solvency
92.1%▲ 9.2pp
2024 · 82.9%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€5,419
▼ 95.7%
2025
20182025
Net result
€344,490
▼ 35.4%
2025
middle half of the sector
20182025
Equity
€5.0m
▲ 175%
2025
highest quarter of the sector
20182025
Total assets
€5.4m
▲ 148%
2025
highest quarter of the sector
20182025
Debt
€429,410
▲ 14.5%
2025
20182025
Working capital
-€423,993
▼ 15.3%
2025
lowest quarter of the sector
20182025
Solvency
92.1%
▲ 9.2pp
2025
highest quarter of the sector
20182025
Current ratio
0.01
▲ 0.01
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
6.3%
▼ 17.9pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.06m-€0.06m▲ 8.9%€0.02m▼ 75.0%€0.003m▼ 78.6%€0.04m▲ 13×-€0.002m-€0.003m▼ 14.6%-€0.005m▼ 95.7%
Net result€0.2m-€0.2m▼ 19.9%€0.1mwithin the sector's middle half▼ 24.8%€0.1mwithin the sector's middle half▼ 18.9%€0.2mabove the sector's middle half▲ 126%€0.2mabove the sector's middle half▼ 14.7%€0.5mabove the sector's middle half▲ 150%€0.3mwithin the sector's middle half▼ 35.4%
Equity€1.0m-€1.2m▲ 18.3%€0.9mwithin the sector's middle half▼ 25.2%€1.0mwithin the sector's middle half▲ 11.2%€2.2mabove the sector's middle half▲ 125%€1.7mabove the sector's middle half▼ 24.2%€1.8mabove the sector's middle half▲ 10.2%€5.0mabove the sector's middle half▲ 175%
Total assets€1.7m-€1.9m▲ 11.7%€1.6mwithin the sector's middle half▼ 15.7%€1.5mwithin the sector's middle half▼ 1.8%€2.4mabove the sector's middle half▲ 52.1%€2.3mabove the sector's middle half▼ 3.7%€2.2mwithin the sector's middle half▼ 3.0%€5.4mabove the sector's middle half▲ 148%
Debt€0.7m-€0.7m▲ 2.2%€0.7m▲ 0.3%€0.6m▼ 17.9%€0.2m▼ 70.5%€0.6m▲ 260%€0.4m▼ 38.6%€0.4m▲ 14.5%
Working capital-€0.3m--€0.2m▲ 33.1%-€0.6mbelow the sector's middle half▼ 160%-€0.4mbelow the sector's middle half▲ 21.3%-€0.1mbelow the sector's middle half▲ 70.0%-€0.6mbelow the sector's middle half▼ 334%-€0.4mbelow the sector's middle half▲ 37.3%-€0.4mbelow the sector's middle half▼ 15.3%
Solvency59.1%-62.6%▲ 3.5pp55.5%within the sector's middle half▼ 7.1pp62.8%above the sector's middle half▲ 7.3pp92.8%above the sector's middle half▲ 30.0pp73.0%above the sector's middle half▼ 19.7pp82.9%above the sector's middle half▲ 9.9pp92.1%above the sector's middle half▲ 9.2pp
Current ratio0.50-0.66▲ 0.160.13below the sector's middle half▼ 0.530.14below the sector's middle half▲ 0.010.17below the sector's middle half▲ 0.020.03below the sector's middle half▼ 0.140.00below the sector's middle half▼ 0.030.01below the sector's middle half▲ 0.01
Return on assets (ROA)13.5%-9.7%▼ 3.8pp8.7%within the sector's middle half▼ 1.0pp7.1%within the sector's middle half▼ 1.5pp10.6%within the sector's middle half▲ 3.5pp9.4%within the sector's middle half▼ 1.2pp24.3%above the sector's middle half▲ 14.9pp6.3%within the sector's middle half▼ 17.9pp
above
within
below
The sector band is the middle half of the companies in Insurance, reinsurance and pension funding, except compulsory social security (NACE 65). 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 2025 is a loss of €5,419, larger than the loss of €2,769 in 2024. It is the lowest result since 2021.
Large changes and their cause
- 2024 Net result +150% on 2023. The accounts now follow the full format, last year the micro format.
- 2022 Net result +126% on 2021. The accounts now follow the micro format, last year the full format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.4m
Fixed assets
€5.4m ▲ 148%
Current assets
€5,416 ▲ 17×
Equity and liabilities €5.4m
Equity
€5.0m ▲ 175%
Debt
€429,410 ▲ 14.5%
Debt's share of the balance-sheet total falls from 17.1% to 7.9%. Equity and debt are higher.
Key figures and ratios
ROE
6.9%▼
2024 · 29.3%
Debt ≤ 1 year
€429,410▲
2024 · €368,013
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts guaranteed by Belgian public bodies | - | - | - | - | €2,360 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €4,069 | - | - | - |
| Depreciation and write-downs of the year | €16,214 | €990 | €945 | €814 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €1 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,611 | €16,094 | €16,612 | €16,214 | €990 | €945 | €814 | - | - |
| Other operating charges640/8 | - | - | - | €899 | €1,231 | - | - | - | - |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €577 | - |
| Gross operating margin9900 | €71,289 | €78,260 | €32,717 | €20,339 | €43,419 | -€1,470 | -€1,955 | -€4,842 | ▼ 148% |
| Operating profit (loss)9901 | €55,373 | €60,299 | €15,085 | €3,225 | €41,198 | -€2,415 | -€2,769 | -€5,419 | ▼ 95.7% |
| Financial income75/76B | - | - | - | €132,511 | €213,032 | €217,026 | €537,950 | €350,000 | ▼ 34.9% |
| Recurring financial income75 | €198,551 | €140,333 | €168,315 | €132,511 | €213,032 | €217,026 | €537,950 | €350,000 | ▼ 34.9% |
| Financial charges65/66B | - | - | - | €15,288 | €7,421 | €109 | €91 | €91 | ▼ 0.2% |
| Recurring financial charges65 | €13,221 | €25,868 | €31,957 | €15,288 | €7,421 | €109 | €91 | €91 | ▼ 0.2% |
| Profit (loss) for the period before taxes9903 | €240,703 | €174,764 | €151,442 | €120,448 | €246,810 | €214,501 | €535,090 | €344,490 | ▼ 35.6% |
| Income taxes67/77 | €15,017 | -€6,108 | €15,384 | €10,079 | -€2,730 | €1,541 | €2,085 | - | - |
| Profit (loss) for the period9904 | €225,686 | €180,872 | €136,058 | €110,369 | €249,540 | €212,960 | €533,005 | €344,490 | ▼ 35.4% |
| Profit (loss) for the period to be appropriated9905 | €225,686 | €180,872 | €136,058 | €110,369 | €249,540 | €212,960 | €533,005 | €344,490 | ▼ 35.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.7m | €1.9m | €1.6m | €1.5m | €2.4m | €2.3m | €2.2m | €5.4m | ▲ 148% |
| Formation expenses20 | - | - | - | - | - | - | - | €0 | - |
| Fixed assets21/28 | €1.3m | €1.4m | €1.5m | €1.5m | €2.3m | €2.2m | €2.2m | €5.4m | ▲ 148% |
| Intangible fixed assets21 | - | - | - | €0 | - | - | - | €0 | - |
| Tangible fixed assets22/27 | €0.04m | €0.04m | €0.03m | €0.01m | €0.005m | €0.004m | €0.003m | - | - |
| Land and buildings22 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | - | - |
| Plant, machinery and equipment23 | - | - | - | - | - | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.004m | €0.003m | €0.002m | - | - |
| Financial fixed assets28 | €1.3m | €1.4m | €1.5m | €1.5m | €2.3m | €2.2m | €2.2m | €5.4m | ▲ 148% |
| Current assets29/58 | €0.3m | €0.4m | €0.09m | €0.08m | €0.03m | €0.02m | €327 | €0.005m | ▲ 17× |
| Amounts receivable after more than one year29 | - | - | - | €0.005m | - | - | - | - | - |
| Trade receivables290 | - | - | - | €0.005m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.06m | €0.09m | €0.04m | €0.05m | €0.02m | €88 | €241 | - | - |
| Trade receivables40 | - | - | - | €0.04m | €0.02m | - | - | - | - |
| Other amounts receivable41 | - | - | - | €0.007m | €0.008m | €88 | €241 | - | - |
| Cash at bank and in hand54/58 | €0.3m | €0.3m | €0.03m | €0.03m | €0.001m | €0.02m | €85 | €0.005m | ▲ 64× |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.003m | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.7m | €1.9m | €1.6m | €1.5m | €2.4m | €2.3m | €2.2m | €5.4m | ▲ 148% |
| Equity10/15 | €1.0m | €1.2m | €0.9m | €1.0m | €2.2m | €1.7m | €1.8m | €5.0m | ▲ 175% |
| Contributions10/11 | €0.6m | €0.6m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Revaluation surpluses12 | - | - | - | - | €1.0m | €1.0m | €1.0m | €4.2m | ▲ 341% |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | - | - | - | - |
| Other1319 | - | - | - | €0.01m | €0.01m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | €0.3m | €0.4m | €0.4m | €0.5m | €0.7m | €0.2m | €0.4m | €0.3m | ▼ 22.6% |
| Amounts payable17/49 | €0.7m | €0.7m | €0.7m | €0.6m | €0.2m | €0.6m | €0.4m | €0.4m | ▲ 14.5% |
| Amounts payable after more than one year17 | €0.02m | €0.03m | €0.02m | €0.009m | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.009m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €0.7m | €0.5m | €0.2m | €0.6m | €0.4m | €0.4m | ▲ 16.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.008m | - | - | - | - | - |
| Financial debts43 | - | - | - | €0.002m | €0.003m | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0.002m | €0.003m | - | - | - | - |
| Trade debts44 | €0.002m | €0.003m | €0.006m | €0.01m | €0.001m | €400 | €0.001m | €0.002m | ▲ 202% |
| Suppliers440/4 | - | - | - | €0.01m | €0.001m | €400 | €118 | €0.002m | ▲ 20× |
| Bills of exchange payable441 | - | - | - | - | - | - | €0.001m | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.02m | - | €0.002m | €50 | ▼ 97.6% |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | - | €0.002m | €50 | ▼ 97.6% |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.1m | €0.6m | €0.4m | €0.4m | ▲ 16.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.04m | €0.007m | €0.007m | €0.007m | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | €0.5m | €0.3m | ▼ 35.4% |
| + Depreciation and write-downs630 | €0.01m | €0.02m | €0.02m | €0.02m | €0.001m | €0.001m | €0.001m | - | - |
| Operating cash flow (approximation) | €0.2m | €0.2m | €0.2m | €0.1m | €0.3m | €0.2m | €0.5m | €0.3m | ▼ 35.5% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€0.07m | €0 | -€0.9m | €0.07m | €0.05m | -€3.2m | - |
| Change in cash | - | €0.06m | -€0.3m | -€0.006m | -€0.02m | €0.02m | -€0.02m | €0.005m | - |
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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 15-05-2026 | 2026-00112242 | |
| 31-12-2024 | full format | 22-05-2025 | 2025-00102332 | |
| 31-12-2023 | micro format | 23-07-2024 | 2024-00272548 | |
| 31-12-2022 | micro format | 03-05-2023 | 2023-00076890 | |
| 31-12-2021 | full format | 16-05-2022 | 2022-20029431 | |
| 31-12-2020 | full format | 24-05-2021 | 2021-15000458 | |
| 31-12-2019 | full format | 01-07-2020 | 2020-24300108 | |
| 31-12-2018 | full format | 08-05-2019 | 2019-12800359 | |
| 31-12-2017 | full format | 03-05-2018 | 2018-12000307 | |
| 31-12-2016 | full format | 30-06-2017 | 2017-26900205 |
Board & ownership
Directors
Directors
1 director, 1 in day-to-day management, last change in 2024
Board 1
Aquilius
Current
Director · appointed in the act of 23-12-2022 · Legal entity
Day-to-day management 1
ELSALIE
Current
Managing director · appointed in the act of 23-12-2022 · Private limited company · permanent representative: Sébastien Croegaert
Permanent representatives 1
Sébastien Croegaert
Current
Permanent representative · appointed in the act of 23-12-2022 · for ELSALIE
Owners and capital
Shareholders
2 ownersOwners 2
- Equity €11.6m Profit of €56,813 in 2025 (profit of €1.3m in 2024)30%
- Sourceaccounts AQUILIUS 2025Equity €1.5m Profit of €65,439 in 2025 (profit of €153,133 in 2024) Checked score 9130%
Mandate history
7 people, 2 in office
- Board
- Day-to-day management
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| Aquilius |
|
| ELSALIE |
|
| ALIXILA |
|
| Aquilus Sri |
|
| CROEGAERT Sébastien |
|
| Denis HECQ |
|
| Philippe-Antoine Carette |
|
Network & group
Board mandates elsewhere
2 board mandatesBoard mandates of GLADIATORGLADIATOR sits on their board2
2 locations
1 location
Connections & network
3 connected companiesTimeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
15-05
full format · 77 days before the deadline
2025
31-12
Financial
Equity above €5mequity €5.0m ▲175%
With a profit in every financial year since 2018, equity grows to €5.0m.
22-05
full format · 70 days before the deadline
2024
31-12
Financial
Highest result from 2018 to 2025net €533,005 ▲150%
The net result of €533,005 is the highest of those years.
03-10
Gazette deed
Resignations: Alixila Srl (director) and Aquilus Sri (director)3 points ▸
Gazette deed
Resignations: Alixila Srl (director) and Aquilus Sri (director)
3 points ▸
- General meeting, 01-04-2024
- Director resignation, Alixila Srl (director)
- Director resignation, Aquilus Sri (director)
23-07
micro format · 8 days before the deadline
2023
03-05
micro format · 89 days before the deadline
2022
31-12
Financial
Equity above €2mequity €2.2m ▲125%
With a profit in every financial year since 2018, equity grows to €2.2m.
23-12
Gazette deed
Registered office moved from Warêt la Chaussée to LignyNew seat: rue du Comté 71 à 5140 Ligny · Previous seat: Grande Ruelle 48 à 5310 Warêt la Chaussée · Resignations: Denis HECQ, Sébastien Croegaert and Philippe-Antoine Carette10 points ▸
Gazette deed
Registered office moved from Warêt la Chaussée to Ligny
New seat: rue du Comté 71 à 5140 Ligny · Previous seat: Grande Ruelle 48 à 5310 Warêt la Chaussée · Resignations: Denis HECQ, Sébastien Croegaert and Philippe-Antoine Carette10 points ▸
- General meeting, 15-09-2022
- Director resignation, Denis HECQ (managing director)
- Director resignation, Sébastien Croegaert (director)
- Director resignation, Philippe-Antoine Carette (director)
- Director appointment, Elsalie (managing director)
- Permanent representative, Sébastien Croegaert
- Director appointment, Aquilius (director)
- Permanent representative, Philippe-Antoine Carette
- Permanent representative, François Bersez
- Registered-office move, rue du Comté 71 à 5140 Ligny
16-05
full format · 76 days before the deadline
2021
24-05
full format · 68 days before the deadline
2020
01-07
full format · 30 days before the deadline
Show earlier events
2019
31-12
Financial
Equity above €1mequity €1.2m ▲18.3%
With a profit in every financial year since 2018, equity grows to €1.2m.
08-05
full format · 84 days before the deadline
2018
03-05
full format · 89 days before the deadline
2017
30-06
full format · 31 days before the deadline
2013
25-01
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
GLADIATOR in French
Enterprise number
0502.438.521
Legal form
Public limited company
Status
Active, normale toestand
Founded
14-01-2013
Entity type
Legal entity
Registered office and establishments
Registered office
Rue du Comté, Ligny 71, 5140 Sombreffe, Belgium
1 former office
- Grande Ruelle 48, 5310 Warêt la until the act of 23-12-2022
Establishment unit
Grande Ruelle,Warêt 48, 5310 Eghezée since 14-01-2013 · unit number 2.216.282.427 64210 Activities of holding companies
Activities
NACEBEL 202565200
Insurance, reinsurance and pension funding, except compulsory social security main activity
Codes under NACEBEL 2008
65200
Insurance, reinsurance and pension funding, except compulsory social security main activity
Invoicing and payment
VAT number
BE 0502.438.521
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the addresses
Ground area
2,852 m²
Building footprint
219 m²
Building volume
1,626 m³
Tallest building: 9.5 m.
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 92133A0343/00C000 | Wallonia | 1,677 m² | 1 · 113 m² | 8.9 m · 2 |
| 92074A0136/00F000 | Wallonia | 1,174 m² | 1 · 106 m² | 9.5 m · 3 |