GLAS
ActiveSummary
The computed 12-month bankruptcy probability of GLAS is 2.4% (moderate). The 2025 annual accounts show equity of €212k and a net result of €316k. Equity is growing by ~24.4% per year across the filed fiscal years. Its solvency ranks better than 18% of 7777 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency42▼-21
Growth78=
Track record100
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity short (current ratio 0.93 against 1.78 in 2024; short-term debt: 62.1% and cash: 26.6% of total assets), and 83% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
17%
Return on assets
25.3%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 7777 sector peers (2025).
NBB · sector comparisonPosition among 7777 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 17-12-2025, 134 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
134 d early
2024
51 d early
2023
15 d early
2022
24 d early
2021
88 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€212k▼ 36.5%
2024 · €334k
2021: €90k
2022: €188k
2023: €327k
2024: €334k
2021 → 2025
Total assets
€1.25M▲ 42.7%
2024 · €876k
2021: €423k
2022: €549k
2023: €772k
2024: €876k
2021 → 2025
Net result
€316k▲ 44.4%
2024 · €219k
2021: €83k
2022: €115k
2023: €139k
2024: €219k
2021 → 2025
Working capital
€-52k
2024 · €174k
2021: €47k
2022: €89k
2023: €183k
2024: €174k
2021 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€90k-€188k▲ 109%€327k▲ 73.7%€334k▲ 2.1%€212k▼ 36.5%
Operating result€93k-€153k▲ 64.2%€192k▲ 25.5%€304k▲ 58.6%€450k▲ 48.1%
Net result€83k-€115k▲ 38.6%€139k▲ 20.3%€219k▲ 57.9%€316k▲ 44.4%
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 has risen four years in a row; 2025 is 48% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.25M
Fixed assets
€526k ▲ 9.6%
Current assets
€724k ▲ 82.7%
Equity and liabilities €1.25M
Equity
€212k ▼ 36.5%
Debt
€1.04M ▲ 91.4%
Debt's share of the balance-sheet total rises from 61.9% to 83.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€534k▲
2024 · €365k
Cash flow
€400k▲
2024 · €280k
Current ratio
0.93▼
2024 · 1.78
Debt to equity
4.89▲
2024 · 1.62
ROE
149.1%▲
2024 · 65.6%
ROA
25.3%▲
2024 · 25.0%
Interest coverage
46.13▲
2024 · 31.84
Debt ≤ 1 year
€776k▲
2024 · €222k
Debt > 1 year
€262k▼
2024 · €308k
Income taxes
€123k▲
2024 · €74k
Staff costs
€437k▲
2024 · €184k
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 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€876k€1.25M▲
Fixed assets21/28€480k€526k▲
Tangible fixed assets22/27€480k€521k▲
Land and buildings22€281k€273k▼
Plant, machinery and equipment23€38k€38k▼
Furniture and vehicles24€161k€210k▲
Financial fixed assets28-€5k
Current assets29/58€396k€724k▲
Amounts receivable within one year40/41€198k€378k▲
Trade receivables40€186k€328k▲
Other amounts receivable41€12k€49k▲
Cash at bank and in hand54/58€192k€333k▲
Deferred charges and accrued income490/1€6k€14k▲
Equity and liabilities
Total equity and liabilities10/49€876k€1.25M▲
Equity10/15€334k€212k▼
Contributions10/11€7k€7k=
Reserves13€327k€205k▼
Distributable reserves133€327k€205k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€542k€1.04M▲
Amounts payable after more than one year17€308k€262k▼
Financial debts170/4€308k€262k▼
Amounts payable within one year42/48€222k€776k▲
Current portion of amounts payable after more than one year42€77k€76k▼
Financial debts43-€45k
Credit institutions430/8-€45k
Trade debts44€94k€175k▲
Suppliers440/4€94k€175k▲
Advances received on contracts in progress46€1k€0▼
Taxes, remuneration and social security45€18k€43k▲
Taxes450/3€4k€69▼
Remuneration and social security454/9€14k€42k▲
Other amounts payable47/48€33k€438k▲
Accrued charges and deferred income492/3€12k€0▼
Income statement
Code20242025
Remuneration, social security and pensions62€184k€437k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€61k€84k▲
Other operating charges640/8€10k€12k▲
Non-recurring operating charges66A-€41k
Gross operating margin9900€559k€1.02M▲
Operating profit (loss)9901€304k€450k▲
Financial income75/76B€41€376▲
Recurring financial income75€41€376▲
Financial charges65/66B€11k€12k▲
Recurring financial charges65€11k€12k▲
Profit (loss) for the period before taxes9903€293k€439k▲
Income taxes67/77€74k€123k▲
Profit (loss) for the period9904€219k€316k▲
Profit (loss) for the period to be appropriated9905€219k€316k▲
Appropriation of the result
Profit (loss) to be appropriated9906€219k€316k▲
Transfer from equity791/2-€327k
Transfer to equity691/2€7k€205k▲
To other reserves6921€7k€205k▲
Profit to be distributed694/7€212k€438k▲
Return on contributions (dividend)694€212k€396k▲
Directors or managers695-€42k
Social balance
Average headcount (FTE)90873.23.2=
The notes to these accounts (27 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
17-12
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-09
Financial
Highest result since 2021net €316k ▲44.4%
Operating result €450k, net result €316k, both a record.
10-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
15-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Equity above €200kEq €327k ▲73.7%
3 profitable years in a row build equity to €327k.
06-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Equity above €150kEq €188k ▲109%
2 profitable years in a row build equity to €188k.
01-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Rotselaar · 2 establishment units since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Drielindenstraat 163110 RotselaarGround area
1.7 ha
Building footprint
5,090 m²
Volume, LiDAR
31,310 m³
3 parcels, Flanders · tallest building 12.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
GLAS
since 20202.303.308.550
Glasworx
since 20262.393.762.832
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24094C0758/00G000 | Flanders | 8,083 m² | 1 · 2,581 m² | 12.8 m · 2 fl. |
| 24033C0180/00E004 | Flanders | 7,483 m² | 1 · 2,420 m² | 5.9 m · 1 fl. |
| 24094C0712/00N000 | Flanders | 1,216 m² | 1 · 89 m² | 9.1 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 2
3 of 3 parcels 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
2022 · 1 entry · 72 EUR awarded · 72 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 72 EUR | 72 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
GLASHANDEL CLAES
BE 0436.194.746
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7AVHR
BE 0402.030.158
Ukkel · Eq €206,502
GLASWERKEN LUC BLOCKX
BE 0820.965.042
Arendonk · Eq €221,372
GLAS ATELJEE
BE 0889.907.989
Waasmunster · Eq €221,992
VITRERIE FERNANDEZ
BE 0446.411.222
Verviers · Eq €201,332
Of 489 companies in sector 43343 we hold annual accounts for 294. 248 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded18-05-2020
Fiscal year end30-09
Activities, NACEBEL 2025
43343Specialised construction activities
43320Joinery installation
47521Retail sale of hardware, building materials, paint and glass (general range)
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryWebsite:www.glaswerken-glas.be