GLAGO
ActiveSummary
GLAGO has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-103k) and a net result of €-6k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 1747 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability58▲+44
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.21 in 2024; short-term debt: 244.1% and cash: 17.1% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-144.1%
Return on assets
-8.6%
Age of the figures
9 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-103k
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
42 d late
2023
8 d late
2022
31 d early
2021
11 d early
2020
11 d early
2019
on the day
← 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
Financials · fiscal year 2025, abbreviated schema
Equity
€-103k▼ 6.3%
2024 · €-97k
2018: €13k
2019: €25k▲ +92.2% vs 2018
2020: €33k▲ +35.7% vs 2019highest in 8 years
2021: €14k▼ -58.9% vs 2020
2022: €-75k▼ -652% vs 2021
2023: €-90k▼ -19.6% vs 2022
2024: €-97k▼ -7.3% vs 2023
2025: €-103k▼ -6.3% vs 2024lowest in 8 years
2018 → 2025
Total assets
€71k▲ 1.8%
2024 · €70k
2018: €91k
2019: €84k▼ -6.8% vs 2018
2020: €68k▼ -19.3% vs 2019lowest in 8 years
2021: €136k▲ +99.7% vs 2020
2022: €155k▲ +14.2% vs 2021highest in 8 years
2023: €127k▼ -18.4% vs 2022
2024: €70k▼ -44.6% vs 2023
2025: €71k▲ +1.8% vs 2024
2018 → 2025
Net result
€-6k▲ 6.8%
2024 · €-7k
2018: €12khighest in 8 years
2019: €12k▼ -3.1% vs 2018
2020: €9k▼ -25.6% vs 2019
2021: €-20k▼ -324% vs 2020
2022: €-89k▼ -354% vs 2021lowest in 8 years
2023: €-15k▲ +83.4% vs 2022
2024: €-7k▲ +55.4% vs 2023
2025: €-6k▲ +6.8% vs 2024
2018 → 2025
Working capital
€-155k▼ 16.9%
2024 · €-133k
2018: €-34k
2019: €-31k▲ +9.5% vs 2018
2020: €-18k▲ +43.0% vs 2019
2021: €-4k▲ +75.7% vs 2020highest in 8 years
2022: €-120k▼ -2684% vs 2021
2023: €-127k▼ -5.8% vs 2022
2024: €-133k▼ -4.5% vs 2023
2025: €-155k▼ -16.9% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€14k-€-75k€-90k▼ 19.6%€-97k▼ 7.3%€-103k▼ 6.3%
2021: €14khighest in 5 years
2022: €-75k▼ -652% vs 2021
2023: €-90k▼ -19.6% vs 2022
2024: €-97k▼ -7.3% vs 2023
2025: €-103k▼ -6.3% vs 2024lowest in 5 years
Operating result€-19k-€-66k▼ 254%€-21k▲ 67.5%€-22k▼ 4.8%€-6k▲ 72.9%
2021: €-19k
2022: €-66k▼ -254% vs 2021lowest in 5 years
2023: €-21k▲ +67.5% vs 2022
2024: €-22k▼ -4.8% vs 2023
2025: €-6k▲ +72.9% vs 2024highest in 5 years
Net result€-20k-€-89k▼ 354%€-15k▲ 83.4%€-7k▲ 55.4%€-6k▲ 6.8%
2021: €-20k
2022: €-89k▼ -354% vs 2021lowest in 5 years
2023: €-15k▲ +83.4% vs 2022
2024: €-7k▲ +55.4% vs 2023
2025: €-6k▲ +6.8% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €6k in 2025 against €22k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €71k
Fixed assets
€52k ▲ 45.3%
Current assets
€19k ▼ 43.7%
Key figures and ratios
EBITDA
€9k▲
2024 · €-16k
Cash flow
€9k▲
2024 · €-263
Solvency
-144.1%▼
2024 · -138.0%
Current ratio
0.11▼
2024 · 0.21
Debt to equity
-1.69▲
2024 · -1.72
ROA
-8.6%▲
2024 · -9.4%
Interest coverage
105.91▲
2024 · 1.02
Debt
€174k▲
2024 · €167k
Debt ≤ 1 year
€174k▲
2024 · €167k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 38 lines
Balance sheet
Code20242025
Assets
Total assets20/58€70k€71k▲
Fixed assets21/28€36k€52k▲
Tangible fixed assets22/27€36k€52k▲
Land and buildings22€899€14k▲
Plant, machinery and equipment23€17k€24k▲
Furniture and vehicles24€18k€14k▼
Current assets29/58€34k€19k▼
Amounts receivable within one year40/41€5k€5k▲
Trade receivables40-€4k
Other amounts receivable41€5k€1k▼
Cash at bank and in hand54/58€28k€12k▼
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€70k€71k▲
Equity10/15€-97k€-103k▼
Contributions10/11€6k€6k=
Outside capital11€6k€6k=
Other1109/19€6k€6k=
Profit (loss) carried forward14€-103k€-109k▼
Amounts payable17/49€167k€174k▲
Amounts payable within one year42/48€167k€174k▲
Trade debts44€730€10k▲
Suppliers440/4€730€10k▲
Taxes, remuneration and social security45-€1k
Taxes450/3-€1k
Other amounts payable47/48€166k€163k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€15k▲
Other operating charges640/8€891€3k▲
Gross operating margin9900€-15k€12k▲
Operating profit (loss)9901€-22k€-6k▲
Financial income75/76B-€12
Recurring financial income75-€12
Financial charges65/66B€-16k€85▲
Recurring financial charges65€-16k€85▲
Profit (loss) for the period before taxes9903€-7k€-6k▲
Profit (loss) for the period9904€-7k€-6k▲
Profit (loss) for the period to be appropriated9905€-7k€-6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-103k€-109k▼
Profit (loss) brought forward from the previous period14P€-96k€-103k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €666 | €4k | €9k | €6k | €15k | ▲ 139% |
| Other operating charges640/8 | €1k | €1k | €653 | €891 | €3k | ▲ 262% |
| Gross operating margin9900 | €-17k | €-60k | €-11k | €-15k | €12k | ▲ 181% |
| Operating profit (loss)9901 | €-19k | €-66k | €-21k | €-22k | €-6k | ▲ 72.9% |
| Financial income75/76B | - | €0 | - | - | €12 | - |
| Recurring financial income75 | - | €0 | - | - | €12 | - |
| Financial charges65/66B | €1k | €23k | €-7k | €-16k | €85 | ▲ 101% |
| Recurring financial charges65 | €1k | €23k | €-7k | €-16k | €85 | ▲ 101% |
| Profit (loss) for the period before taxes9903 | €-20k | €-89k | €-15k | €-7k | €-6k | ▲ 6.8% |
| Profit (loss) for the period9904 | €-20k | €-89k | €-15k | €-7k | €-6k | ▲ 6.8% |
| Profit (loss) for the period to be appropriated9905 | €-20k | €-89k | €-15k | €-7k | €-6k | ▲ 6.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €136k | €155k | €127k | €70k | €71k | ▲ 1.8% |
| Fixed assets21/28 | €18k | €44k | €37k | €36k | €52k | ▲ 45.3% |
| Intangible fixed assets21 | €16k | €12k | €9k | - | - | - |
| Tangible fixed assets22/27 | €2k | €32k | €27k | €36k | €52k | ▲ 45.3% |
| Land and buildings22 | - | €1k | €1k | €899 | €14k | ▲ 1,457% |
| Plant, machinery and equipment23 | - | €7k | €5k | €17k | €24k | ▲ 41.0% |
| Furniture and vehicles24 | €2k | €19k | €16k | €18k | €14k | ▼ 20.7% |
| Other tangible fixed assets26 | - | €5k | €5k | - | - | - |
| Current assets29/58 | €118k | €111k | €90k | €34k | €19k | ▼ 43.7% |
| Amounts receivable within one year40/41 | €9k | €13k | €4k | €5k | €5k | ▲ 4.5% |
| Trade receivables40 | - | €10k | €3k | - | €4k | - |
| Other amounts receivable41 | €9k | €3k | €1k | €5k | €1k | ▼ 72.7% |
| Current investments50/53 | €91k | €91k | €72k | - | - | - |
| Cash at bank and in hand54/58 | €4k | €6k | €12k | €28k | €12k | ▼ 56.3% |
| Deferred charges and accrued income490/1 | €15k | €1k | €2k | €1k | €2k | ▲ 34.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €136k | €155k | €127k | €70k | €71k | ▲ 1.8% |
| Equity10/15 | €14k | €-75k | €-90k | €-97k | €-103k | ▼ 6.3% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Outside capital11 | €6k | €6k | €6k | €6k | €6k | = |
| Other1109/19 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €7k | - | - | - | - | - |
| Distributable reserves133 | €7k | - | - | - | - | - |
| Profit (loss) carried forward14 | - | €-82k | €-96k | €-103k | €-109k | ▼ 6.0% |
| Amounts payable17/49 | €122k | €231k | €217k | €167k | €174k | ▲ 4.4% |
| Amounts payable within one year42/48 | €122k | €231k | €217k | €167k | €174k | ▲ 4.4% |
| Trade debts44 | €725 | €5k | €284 | €730 | €10k | ▲ 1,265% |
| Suppliers440/4 | €725 | €5k | €284 | €730 | €10k | ▲ 1,265% |
| Taxes, remuneration and social security45 | €2k | - | €2k | - | €1k | - |
| Taxes450/3 | €52 | - | €2k | - | €1k | - |
| Remuneration and social security454/9 | €2k | - | - | - | - | - |
| Other amounts payable47/48 | €120k | €225k | €214k | €166k | €163k | ▼ 1.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-20k | €-89k | €-15k | €-7k | €-6k | ▲ 6.8% |
| + Depreciation and write-downs630 | €666 | €4k | €9k | €6k | €15k | ▲ 139% |
| Operating cash flow (approximation) | €-19k | €-85k | €-5k | €-263 | €9k | ▲ 3,514% |
| Investment in fixed assets (approximation) | - | €-31k | €-2k | €-6k | €-31k | ▼ 470% |
| Change in cash | - | €2k | €6k | €16k | €-16k | ▼ 198% |
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
Next filing, fiscal year 2026, expected by
2026
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
11-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 42 days late
2024
08-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-89k
Net result drops to €-89k, the lowest in the series; recovery starts the following year.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 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, Ichtegem · 1 establishment unit since 2014
Ground area
5,586 m²
Building footprint
175 m²
Volume, LiDAR
806 m³
Parcel 35003B0058/02L000, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GLAGO
since 20142.232.560.314
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35003B0058/02L000 | Flanders | 5,586 m² | 1 · 175 m² | 7.8 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 4,842 EUR awarded · 4,842 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 342 EUR | 342 EUR |
| 2023 | 1 | 4,500 EUR | 4,500 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteIchtegem2.232.560.314
Legal Entity Identifier
8755008CFOH30KZ1VS71
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Of 1,960 companies in sector 01430 we hold annual accounts for 742. 380 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
Founded23-06-2014
Fiscal year end31-12
Activities, NACEBEL 2025
01430Raising of horses and other equines
56112Limited-service restaurants, excluding mobile food services
70200Business and other management consultancy
82990Other business support services
Contact
Website
www.goodwifi.be
E-mail
vincentgoegebeur@telenet.be
Phone
0479 522 442
E-mail
vincent.goegebeur@gmail.comIchtegem
Scores and ratios are computed by Checked and are not a credit decision.