GLADIS
ActiveSummary
GLADIS has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €794k and a net result of €79k. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 54% of 10407 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▲+10
Solvency66=
Growth66=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity tight (current ratio 1.1 against 1.12 in 2024; short-term debt: 46.4% and cash: 25.4% of total assets), and 59.5% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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
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
40.5%
Return on assets
4.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-09-2026, 52 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
52 d late
2024
14 d early
2023
26 d late
2022
28 d late
2021
3 d early
2020
28 d late
2019
66 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
History
Financials · fiscal year 2025, abbreviated schema
Turnover
€6.74M▲ 6.1%
2023 · €6.35M
EBIT margin
2.6%▲ 1.0pp
2023 · 1.6%
Net result
€79k▼ 10.0%
2024 · €88k
Working capital
€89k▼ 11.8%
2024 · €101k
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
Turnover€6.18M€6.03M▼ 2.4%€6.35M▲ 5.3%€6.74M▲ 6.1%
Operating result€245k▼ 2.3%€116k▼ 52.7%€100k▼ 13.8%€176k▲ 76.3%€153k▼ 12.7%
Net result€152k▼ 2.6%€54k▼ 64.5%€41k▼ 24.3%€88k▲ 116%€79k▼ 10.0%
EBIT margin4.0%1.9%▼ 2.0pp1.6%▼ 0.3pp2.6%▲ 1.0pp
Equity€741k▲ 25.8%€795k▲ 7.3%€796k▲ 0.1%€839k▲ 5.4%€794k▼ 5.4%
Total assets€2.59M▲ 7.6%€2.33M▼ 10.1%€2.15M▼ 7.8%€2.04M▼ 5.1%€1.96M▼ 3.9%
Debt€1.85M▲ 1.7%€1.53M▼ 17.0%€1.35M▼ 12.0%€1.20M▼ 11.3%€1.17M▼ 2.8%
Working capital€219k▲ 89.2%€148k▼ 32.4%€98k▼ 34.0%€101k▲ 3.2%€89k▼ 11.8%
Staff (FTE)16.9▲ 1.2%17.2▲ 1.8%15.7▼ 8.7%15.9▲ 1.3%16.4▲ 3.1%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 13% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.96M
Fixed assets
€961k ▼ 13.6%
Current assets
€997k ▲ 7.9%
Equity and liabilities €1.96M
Equity
€794k ▼ 5.4%
Debt
€1.17M ▼ 2.8%
Debt's share of the balance-sheet total rises from 58.8% to 59.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€330k▼
2024 · €397k
Cash flow
€257k▼
2024 · €309k
Current ratio
1.10▼
2024 · 1.12
Quick ratio
0.71▼
2024 · 0.77
Debt to equity
1.47▲
2024 · 1.43
ROE
10.0%▼
2024 · 10.5%
ROA
4.1%▼
2024 · 4.3%
Interest coverage
8.23▼
2024 · 13.08
Debt ≤ 1 year
€909k▲
2024 · €824k
Debt > 1 year
€250k▼
2024 · €360k
Income taxes
€36k▼
2024 · €57k
Staff costs
€631k▲
2024 · €608k
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 |
|---|---|---|---|---|---|---|
| Turnover70 | €6.18M | €6.03M | €6.35M | €6.74M | - | - |
| Goods, raw materials, services and sundry goods60/61 | €5.18M | €5.10M | €5.40M | €5.71M | - | - |
| Remuneration, social security and pensions62 | €537k | €590k | €599k | €608k | €631k | ▲ 3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €195k | €202k | €220k | €221k | €177k | ▼ 19.8% |
| Other operating charges640/8 | €27k | €26k | €32k | €32k | €30k | ▼ 6.9% |
| Gross operating margin9900 | €1.00M | €933k | €951k | €1.04M | €991k | ▼ 4.4% |
| Operating profit (loss)9901 | €245k | €116k | €100k | €176k | €153k | ▼ 12.7% |
| Financial income75/76B | €14k | €532 | €357 | €369 | €2k | ▲ 572% |
| Recurring financial income75 | €994 | €532 | €357 | €369 | €2k | ▲ 572% |
| Non-recurring financial income76B | €13k | - | - | - | - | - |
| Financial charges65/66B | €42k | €37k | €34k | €30k | €40k | ▲ 32.5% |
| Recurring financial charges65 | €42k | €37k | €34k | €30k | €40k | ▲ 32.5% |
| Profit (loss) for the period before taxes9903 | €217k | €79k | €66k | €146k | €116k | ▼ 20.6% |
| Income taxes67/77 | €65k | €25k | €25k | €57k | €36k | ▼ 36.9% |
| Profit (loss) for the period9904 | €152k | €54k | €41k | €88k | €79k | ▼ 10.0% |
| Profit (loss) for the period to be appropriated9905 | €152k | €54k | €41k | €88k | €79k | ▼ 10.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.59M | €2.33M | €2.15M | €2.04M | €1.96M | ▼ 3.9% |
| Fixed assets21/28 | €1.52M | €1.40M | €1.28M | €1.11M | €961k | ▼ 13.6% |
| Intangible fixed assets21 | €1k | €501 | - | - | - | - |
| Tangible fixed assets22/27 | €1.52M | €1.40M | €1.28M | €1.11M | €960k | ▼ 13.6% |
| Land and buildings22 | €1.03M | €954k | €892k | €822k | €744k | ▼ 9.5% |
| Plant, machinery and equipment23 | €479k | €433k | €363k | €261k | €197k | ▼ 24.8% |
| Furniture and vehicles24 | €13k | €15k | €20k | €28k | €19k | ▼ 31.8% |
| Financial fixed assets28 | €940 | €940 | €940 | €940 | €940 | = |
| Current assets29/58 | €1.07M | €925k | €870k | €925k | €997k | ▲ 7.9% |
| Stocks and contracts in progress3 | €310k | €306k | €316k | €290k | €349k | ▲ 20.2% |
| Stocks30/36 | €310k | €306k | €316k | €290k | €349k | ▲ 20.2% |
| Amounts receivable within one year40/41 | €86k | €96k | €119k | €71k | €139k | ▲ 94.4% |
| Trade receivables40 | €62k | €31k | €55k | €34k | €129k | ▲ 285% |
| Other amounts receivable41 | €24k | €66k | €64k | €38k | €9k | ▼ 75.0% |
| Cash at bank and in hand54/58 | €664k | €518k | €430k | €562k | €497k | ▼ 11.7% |
| Deferred charges and accrued income490/1 | €7k | €6k | €5k | €614 | €13k | ▲ 2,029% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.59M | €2.33M | €2.15M | €2.04M | €1.96M | ▼ 3.9% |
| Equity10/15 | €741k | €795k | €796k | €839k | €794k | ▼ 5.4% |
| Contributions10/11 | €57k | €57k | €57k | €57k | €57k | = |
| Reserves13 | €679k | €729k | €729k | €769k | €719k | ▼ 6.5% |
| Non-distributable reserves130/1 | €14k | €14k | €14k | €14k | €14k | = |
| Reserves not available under the articles1311 | €14k | €14k | €14k | €14k | €14k | = |
| Distributable reserves133 | €665k | €715k | €715k | €755k | €705k | ▼ 6.6% |
| Profit (loss) carried forward14 | €5k | €9k | €10k | €13k | €18k | ▲ 33.6% |
| Amounts payable17/49 | €1.85M | €1.53M | €1.35M | €1.20M | €1.17M | ▼ 2.8% |
| Amounts payable after more than one year17 | €981k | €750k | €573k | €360k | €250k | ▼ 30.8% |
| Financial debts170/4 | €981k | €750k | €573k | €360k | €250k | ▼ 30.8% |
| Amounts payable within one year42/48 | €847k | €777k | €772k | €824k | €909k | ▲ 10.3% |
| Current portion of amounts payable after more than one year42 | €224k | €231k | €228k | €210k | €125k | ▼ 40.4% |
| Trade debts44 | €432k | €476k | €439k | €441k | €540k | ▲ 22.4% |
| Suppliers440/4 | €432k | €476k | €439k | €441k | €540k | ▲ 22.4% |
| Taxes, remuneration and social security45 | €191k | €70k | €65k | €127k | €118k | ▼ 7.1% |
| Taxes450/3 | €105k | €16k | €10k | €74k | €57k | ▼ 23.1% |
| Remuneration and social security454/9 | €86k | €54k | €55k | €54k | €62k | ▲ 14.8% |
| Other amounts payable47/48 | - | - | €40k | €45k | €125k | ▲ 178% |
| Accrued charges and deferred income492/3 | €21k | €7k | €5k | €14k | €7k | ▼ 49.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €152k | €54k | €41k | €88k | €79k | ▼ 10.0% |
| + Depreciation and write-downs630 | €195k | €202k | €220k | €221k | €177k | ▼ 19.8% |
| Operating cash flow (approximation) | €347k | €256k | €261k | €309k | €257k | ▼ 17.0% |
| Investment in fixed assets (approximation) | - | €-81k | €-93k | €-57k | €-26k | ▲ 55.2% |
| Change in cash | - | €-146k | €-87k | €132k | €-66k | ▼ 150% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
More with these figures Sector benchmark What changed Value indication
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
21-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 52 days late
2025
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 26 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
28-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 28 days late
2020
31-12
Financial
Highest result since 2018net €156k ▲228%
Operating result €250k, net result €156k, both a record.
31-12
Financial
Equity above €500kEq €589k ▲28.6%
2 profitable years in a row build equity to €589k.
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 66 days late
2019
31-12
Financial
Back to profitnet €48k
Net result €48k after one loss-making year.
23-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 54 days late
2018
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 50 days late
2017
20-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 51 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Couvin · 2 establishment units since 2002
Ground area
2.0 ha
Building footprint
1,477 m²
Parcel 93039B0096/00A004, Wallonia. Linked by address, not a title deed.
2 establishment units
SPAR
since 20022.131.435.042
.
since 20202.309.697.583
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93039B0096/00A004 | Wallonia | 2.0 ha | 1 · 1,477 m² | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteCouvin2.131.435.042
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Of 12,954 companies in sector 47120 we hold annual accounts for 2,189. 951 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-07-2002
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
47120Other non-specialised retail sale
47300Retail sale of automotive fuel
47512Retail sale of household textiles and bedding
47621Retail sale of newspapers and periodicals
47711Retail sale of women's outerwear
Scores and ratios are computed by Checked and are not a credit decision.