Glanzer
ActiveSummary
Glanzer has been active since 1971 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €564k and a net result of €272k. Equity is shrinking by ~3.1% per year across the filed fiscal years. Its solvency ranks better than 45% of 1208 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▲+2
Solvency62▲+1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 1.51 against 1.43 in 2024; short-term debt: 62.6% and cash: 35.7% of total assets), but 62.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 81
Relative position
BE, all sectors
reference
Services to buildings and landscape activities (NACE 81)
about 79% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
37.4%
Return on assets
18%
Age of the figures
9 mo
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
30 d early
2023
28 d late
2022
on the day
2021
32 d late
2020
1 d early
2019
31 d early
← 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
€564k▲ 4.1%
2024 · €542k
2018: €676k
2019: €864k▲ +27.8% vs 2018highest in 8 years
2020: €292k▼ -66.2% vs 2019lowest in 8 years
2021: €617k▲ +111% vs 2020
2022: €832k▲ +34.9% vs 2021
2023: €545k▼ -34.5% vs 2022
2024: €542k▼ -0.6% vs 2023
2025: €564k▲ +4.1% vs 2024
2018 → 2025
Total assets
€1.51M▲ 0.2%
2024 · €1.50M
2018: €1.92M
2019: €2.04M▲ +6.4% vs 2018
2020: €2.20M▲ +8.0% vs 2019
2021: €2.40M▲ +8.8% vs 2020
2022: €2.49M▲ +4.0% vs 2021highest in 8 years
2023: €1.90M▼ -23.7% vs 2022
2024: €1.50M▼ -21.0% vs 2023lowest in 8 years
2025: €1.51M▲ +0.2% vs 2024
2018 → 2025
Net result
€272k▲ 10.2%
2024 · €247k
2018: €182k
2019: €188k▲ +3.3% vs 2018
2020: €103k▼ -45.1% vs 2019lowest in 8 years
2021: €324k▲ +215% vs 2020highest in 8 years
2022: €215k▼ -33.7% vs 2021
2023: €213k▼ -0.8% vs 2022
2024: €247k▲ +15.6% vs 2023
2025: €272k▲ +10.2% vs 2024
2018 → 2025
Working capital
€478k▲ 15.2%
2024 · €415k
2018: €470k
2019: €628k▲ +33.8% vs 2018highest in 8 years
2020: €-370k▼ -159% vs 2019lowest in 8 years
2021: €-160k▲ +56.7% vs 2020
2022: €29k▲ +118% vs 2021
2023: €414k▲ +1319% vs 2022
2024: €415k▲ +0.2% vs 2023
2025: €478k▲ +15.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€617k-€832k▲ 34.9%€545k▼ 34.5%€542k▼ 0.6%€564k▲ 4.1%
2021: €617k
2022: €832k▲ +34.9% vs 2021highest in 5 years
2023: €545k▼ -34.5% vs 2022
2024: €542k▼ -0.6% vs 2023lowest in 5 years
2025: €564k▲ +4.1% vs 2024
Operating result€332k-€328k▼ 1.3%€317k▼ 3.4%€353k▲ 11.5%€390k▲ 10.4%
2021: €332k
2022: €328k▼ -1.3% vs 2021
2023: €317k▼ -3.4% vs 2022lowest in 5 years
2024: €353k▲ +11.5% vs 2023
2025: €390k▲ +10.4% vs 2024highest in 5 years
Net result€324k-€215k▼ 33.7%€213k▼ 0.8%€247k▲ 15.6%€272k▲ 10.2%
2021: €324khighest in 5 years
2022: €215k▼ -33.7% vs 2021
2023: €213k▼ -0.8% vs 2022lowest in 5 years
2024: €247k▲ +15.6% vs 2023
2025: €272k▲ +10.2% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 10% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.51M
Fixed assets
€86k ▼ 32.3%
Current assets
€1.42M ▲ 3.3%
Equity and liabilities €1.51M
Equity
€564k ▲ 4.1%
Debt
€944k ▼ 1.9%
Debt's share of the balance-sheet total falls from 64.0% to 62.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€433k▲
2024 · €414k
Cash flow
€315k▲
2024 · €308k
Current ratio
1.51▲
2024 · 1.43
Quick ratio
1.50▲
2024 · 1.43
Debt to equity
1.67▼
2024 · 1.77
ROE
48.2%▲
2024 · 45.5%
ROA
18.0%▲
2024 · 16.4%
Interest coverage
74.74▲
2024 · 49.89
Debt ≤ 1 year
€944k▼
2024 · €962k
Income taxes
€113k▲
2024 · €98k
Staff costs
€4.11M▲
2024 · €4.06M
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 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.50M€1.51M▲
Fixed assets21/28€127k€86k▼
Intangible fixed assets21€107k€71k▼
Tangible fixed assets22/27€20k€15k▼
Land and buildings22€8k€7k▼
Plant, machinery and equipment23€6k€3k▼
Furniture and vehicles24€7k€5k▼
Other tangible fixed assets26€0-
Financial fixed assets28€506€506=
Current assets29/58€1.38M€1.42M▲
Stocks and contracts in progress3€5k€3k▼
Stocks30/36€5k€3k▼
Amounts receivable within one year40/41€914k€879k▼
Trade receivables40€788k€773k▼
Other amounts receivable41€126k€106k▼
Cash at bank and in hand54/58€449k€538k▲
Deferred charges and accrued income490/1€9k€2k▼
Equity and liabilities
Total equity and liabilities10/49€1.50M€1.51M▲
Equity10/15€542k€564k▲
Contributions10/11€62k€62k=
Reserves13€427k€477k▲
Tax-exempt reserves132€227k€227k=
Distributable reserves133€200k€250k▲
Profit (loss) carried forward14€53k€25k▼
Amounts payable17/49€962k€944k▼
Amounts payable after more than one year17€275-
Financial debts170/4€275-
Amounts payable within one year42/48€962k€944k▼
Current portion of amounts payable after more than one year42€51k€275▼
Financial debts43€34k-
Credit institutions430/8€34k-
Trade debts44€78k€62k▼
Suppliers440/4€78k€62k▼
Taxes, remuneration and social security45€548k€631k▲
Taxes450/3€38k€70k▲
Remuneration and social security454/9€510k€561k▲
Other amounts payable47/48€250k€250k=
Income statement
Code20242025
Remuneration, social security and pensions62€4.06M€4.11M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€61k€43k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€5k€4k▼
Other operating charges640/8€1k€1k▲
Gross operating margin9900€4.48M€4.55M▲
Operating profit (loss)9901€353k€390k▲
Financial income75/76B€323€479▲
Recurring financial income75€323€479▲
Financial charges65/66B€8k€6k▼
Recurring financial charges65€8k€6k▼
Profit (loss) for the period before taxes9903€345k€385k▲
Income taxes67/77€98k€113k▲
Profit (loss) for the period9904€247k€272k▲
Profit (loss) for the period to be appropriated9905€247k€272k▲
Appropriation of the result
Profit (loss) to be appropriated9906€303k€325k▲
Profit (loss) brought forward from the previous period14P€56k€53k▼
Transfer to equity691/2-€50k
To other reserves6921-€50k
Profit to be distributed694/7€250k€250k=
Return on contributions (dividend)694€250k€250k=
Social balance
Average headcount (FTE)908785.086.0▲
The notes to these accounts (15 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €3.66M | €3.68M | €3.99M | €4.06M | €4.11M | ▲ 1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63k | €65k | €63k | €61k | €43k | ▼ 29.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €-7k | - | €4k | €5k | €4k | ▼ 20.2% |
| Other operating charges640/8 | €8k | €1k | €1k | €1k | €1k | ▲ 8.8% |
| Gross operating margin9900 | €4.06M | €4.07M | €4.37M | €4.48M | €4.55M | ▲ 1.5% |
| Operating profit (loss)9901 | €332k | €328k | €317k | €353k | €390k | ▲ 10.4% |
| Financial income75/76B | €101k | €212 | €6k | €323 | €479 | ▲ 48.3% |
| Recurring financial income75 | €101k | €212 | €6k | €323 | €479 | ▲ 48.3% |
| Financial charges65/66B | €17k | €24k | €20k | €8k | €6k | ▼ 30.2% |
| Recurring financial charges65 | €17k | €24k | €20k | €8k | €6k | ▼ 30.2% |
| Profit (loss) for the period before taxes9903 | €416k | €305k | €302k | €345k | €385k | ▲ 11.5% |
| Income taxes67/77 | €92k | €89k | €88k | €98k | €113k | ▲ 14.6% |
| Profit (loss) for the period9904 | €324k | €215k | €213k | €247k | €272k | ▲ 10.2% |
| Profit (loss) for the period to be appropriated9905 | €324k | €215k | €213k | €247k | €272k | ▲ 10.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.40M | €2.49M | €1.90M | €1.50M | €1.51M | ▲ 0.2% |
| Fixed assets21/28 | €981k | €929k | €183k | €127k | €86k | ▼ 32.3% |
| Intangible fixed assets21 | €252k | €203k | €155k | €107k | €71k | ▼ 33.6% |
| Tangible fixed assets22/27 | €28k | €25k | €27k | €20k | €15k | ▼ 26.5% |
| Land and buildings22 | - | - | €9k | €8k | €7k | ▼ 17.7% |
| Plant, machinery and equipment23 | €22k | €12k | €5k | €6k | €3k | ▼ 43.7% |
| Furniture and vehicles24 | €4k | €13k | €13k | €7k | €5k | ▼ 22.2% |
| Other tangible fixed assets26 | €1k | - | - | €0 | - | - |
| Financial fixed assets28 | €702k | €701k | €631 | €506 | €506 | = |
| Current assets29/58 | €1.42M | €1.57M | €1.72M | €1.38M | €1.42M | ▲ 3.3% |
| Stocks and contracts in progress3 | €5k | €4k | €5k | €5k | €3k | ▼ 46.2% |
| Stocks30/36 | €5k | €4k | €5k | €5k | €3k | ▼ 46.2% |
| Amounts receivable within one year40/41 | €825k | €772k | €1.02M | €914k | €879k | ▼ 3.8% |
| Trade receivables40 | €609k | €649k | €642k | €788k | €773k | ▼ 1.9% |
| Other amounts receivable41 | €216k | €123k | €380k | €126k | €106k | ▼ 15.5% |
| Cash at bank and in hand54/58 | €583k | €781k | €675k | €449k | €538k | ▲ 19.7% |
| Deferred charges and accrued income490/1 | €4k | €8k | €19k | €9k | €2k | ▼ 78.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.40M | €2.49M | €1.90M | €1.50M | €1.51M | ▲ 0.2% |
| Equity10/15 | €617k | €832k | €545k | €542k | €564k | ▲ 4.1% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Reserves13 | €527k | €727k | €427k | €427k | €477k | ▲ 11.7% |
| Tax-exempt reserves132 | €227k | €227k | €227k | €227k | €227k | = |
| Distributable reserves133 | €300k | €500k | €200k | €200k | €250k | ▲ 25.0% |
| Profit (loss) carried forward14 | €27k | €43k | €56k | €53k | €25k | ▼ 53.0% |
| Amounts payable17/49 | €1.78M | €1.66M | €1.36M | €962k | €944k | ▼ 1.9% |
| Amounts payable after more than one year17 | €204k | €126k | €52k | €275 | - | - |
| Financial debts170/4 | €204k | €126k | €52k | €275 | - | - |
| Amounts payable within one year42/48 | €1.58M | €1.54M | €1.31M | €962k | €944k | ▼ 1.9% |
| Current portion of amounts payable after more than one year42 | €156k | €88k | €74k | €51k | €275 | ▼ 99.5% |
| Financial debts43 | €114k | €114k | €34k | €34k | - | - |
| Credit institutions430/8 | €114k | €114k | €34k | €34k | - | - |
| Trade debts44 | €109k | €86k | €130k | €78k | €62k | ▼ 20.8% |
| Suppliers440/4 | €109k | €86k | €130k | €78k | €62k | ▼ 20.8% |
| Taxes, remuneration and social security45 | €492k | €531k | €558k | €548k | €631k | ▲ 15.2% |
| Taxes450/3 | €29k | €61k | €32k | €38k | €70k | ▲ 82.3% |
| Remuneration and social security454/9 | €463k | €471k | €526k | €510k | €561k | ▲ 10.1% |
| Other amounts payable47/48 | €706k | €717k | €510k | €250k | €250k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €324k | €215k | €213k | €247k | €272k | ▲ 10.2% |
| + Depreciation and write-downs630 | €63k | €65k | €63k | €61k | €43k | ▼ 29.2% |
| Operating cash flow (approximation) | €387k | €280k | €276k | €308k | €315k | ▲ 2.4% |
| Investment in fixed assets (approximation) | - | €-12k | €683k | €-6k | €-2k | ▲ 67.5% |
| Change in cash | - | €198k | €-105k | €-226k | €88k | ▲ 139% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
01-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 32 days late
2021
31-12
Financial
Highest result since 2018net €324k ▲215%
Net result €324k, the highest in the series.
31-12
Financial
Equity above €500kEq €617k ▲111%
4 profitable years in a row build equity to €617k.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €103k ▼45.1%
Net result drops to €103k, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 13 acts read
About the unread acts
We know of 13 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
13 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, Zandhoven · 1 establishment unit since 1971
Ground area
982 m²
Building footprint
200 m²
Volume, LiDAR
845 m³
Parcel 11033B0420/00K000, Flanders · tallest building 7.4 m, ±1 floor. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Kleinheide 24, 2242 Zandhoven
since 19712.036.208.162
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11033B0420/00K000 | Flanders | 982 m² | 1 · 200 m² | 7.4 m · 1 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 · 1 entry · 252 EUR awarded · 252 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 252 EUR | 252 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 6,997 companies in sector 81220 we hold annual accounts for 2,414. 1,318 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
Founded01-07-1971
Fiscal year end31-12
Activities, NACEBEL 2025
81220Other building cleaning and industrial cleaning
Scores and ratios are computed by Checked and are not a credit decision.