GLAS EXPRESS
ActiveSummary
GLAS EXPRESS has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €907,658 and a net result of €489,517. Equity is growing by ~21.1% per year across the filed fiscal years. Its solvency ranks better than 89% of 7461 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+2
Solvency100▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity ample (current ratio 5.44 against 2.97 in 2023; short-term debt: 15.4% and cash: 65.4% of total assets), and 18.7% of the assets are financed with debt.
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Signals
Four 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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 2024Solvency, return and age of the figures
Solvency
81.3%
Return on assets
43.8%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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
not confirmed
2024
29 d late
2023
31 d late
2022
32 d late
2021
30 d late
2020
30 d late
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 30 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€907,658▲ 36.4%
2023 · €665,204
Total assets
€1.1m▲ 15.2%
2023 · €970,077
Net result
€489,517▲ 119%
2023 · €223,458
Working capital
€763,438▲ 38.0%
2023 · €553,273
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€91,481▼ 17.3%€110,939▲ 21.3%€142,535▲ 28.5%€299,599▲ 110%€643,418▲ 115%
Net result€41,400within the sector's middle half▼ 55.5%€99,214within the sector's middle half▲ 140%€103,326within the sector's middle half▲ 4.1%€223,458above the sector's middle half▲ 116%€489,517above the sector's middle half▲ 119%
Equity€342,529within the sector's middle half▲ 13.7%€441,743within the sector's middle half▲ 29.0%€441,743within the sector's middle half=€665,204within the sector's middle half▲ 50.6%€907,658above the sector's middle half▲ 36.4%
Total assets€464,066within the sector's middle half=€575,112within the sector's middle half▲ 23.9%€821,856within the sector's middle half▲ 42.9%€970,077within the sector's middle half▲ 18.0%€1.1mwithin the sector's middle half▲ 15.2%
Debt€121,537▼ 25.4%€133,369▲ 9.7%€380,113▲ 185%€304,873▼ 19.8%€209,429▼ 31.3%
Working capital€325,210within the sector's middle half▲ 17.8%€334,535within the sector's middle half▲ 2.9%€381,408within the sector's middle half▲ 14.0%€553,273above the sector's middle half▲ 45.1%€763,438above the sector's middle half▲ 38.0%
Solvency73.8%above the sector's middle half▲ 8.9pp76.8%above the sector's middle half▲ 3.0pp53.7%within the sector's middle half▼ 23.1pp68.6%above the sector's middle half▲ 14.8pp81.3%above the sector's middle half▲ 12.7pp
Current ratio5.61above the sector's middle half▲ 1.254.54above the sector's middle half▼ 1.072.20within the sector's middle half▼ 2.342.97above the sector's middle half▲ 0.775.44above the sector's middle half▲ 2.47
Return on assets (ROA)8.9%within the sector's middle half▼ 11.1pp17.3%above the sector's middle half▲ 8.3pp12.6%above the sector's middle half▼ 4.7pp23.0%above the sector's middle half▲ 10.5pp43.8%above the sector's middle half▲ 20.8pp
Staff (FTE)6.4within the sector's middle half▼ 13.5%7.5within the sector's middle half▲ 17.2%9within the sector's middle half▲ 20.0%8.8within the sector's middle half▼ 2.2%9.8above the sector's middle half▲ 11.4%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2024 is 115% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.1m
Fixed assets
€181,725 ▲ 33.8%
Current assets
€935,362 ▲ 12.1%
Equity and liabilities €1.1m
Equity
€907,658 ▲ 36.4%
Debt
€209,429 ▼ 31.3%
Debt's share of the balance-sheet total falls from 31.4% to 18.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€681,147▲
2023 · €321,466
Cash flow
€527,246▲
2023 · €245,325
Quick ratio
5.21▲
2023 · 2.84
Debt to equity
0.23▼
2023 · 0.46
ROE
53.9%▲
2023 · 33.6%
Interest coverage
75.31▲
2023 · 71.11
Debt ≤ 1 year
€171,924▼
2023 · €281,015
Debt > 1 year
€37,505▲
2023 · €23,858
Income taxes
€179,646▲
2023 · €81,719
Staff costs
€706,273▲
2023 · €589,636
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,679 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €456,903 | €427,552 | €589,636 | €706,273 | ▲ 19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,595 | €42,286 | €37,493 | €21,867 | €37,729 | ▲ 72.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €27,601 | - | - | - |
| Other operating charges640/8 | - | €6,053 | €8,391 | €7,095 | €8,306 | ▲ 17.1% |
| Gross operating margin9900 | €561,856 | €616,181 | €643,572 | €918,197 | €1.4m | ▲ 52.0% |
| Operating profit (loss)9901 | €91,481 | €110,939 | €142,535 | €299,599 | €643,418 | ▲ 115% |
| Financial income75/76B | - | €14,464 | €7,950 | €10,099 | €34,789 | ▲ 244% |
| Recurring financial income75 | €13,787 | €14,464 | €7,950 | €10,099 | €34,789 | ▲ 244% |
| Financial charges65/66B | - | €2,123 | €2,102 | €4,521 | €9,044 | ▲ 100% |
| Recurring financial charges65 | €2,480 | €2,123 | €2,102 | €4,521 | €9,044 | ▲ 100% |
| Profit (loss) for the period before taxes9903 | €102,788 | €123,280 | €148,383 | €305,177 | €669,163 | ▲ 119% |
| Income taxes67/77 | €61,388 | €24,066 | €45,057 | €81,719 | €179,646 | ▲ 120% |
| Profit (loss) for the period9904 | €41,400 | €99,214 | €103,326 | €223,458 | €489,517 | ▲ 119% |
| Profit (loss) for the period to be appropriated9905 | €41,400 | €99,214 | €103,326 | €223,458 | €489,517 | ▲ 119% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €464,066 | €575,112 | €821,856 | €970,077 | €1.1m | ▲ 15.2% |
| Fixed assets21/28 | €68,373 | €146,106 | €122,508 | €135,789 | €181,725 | ▲ 33.8% |
| Intangible fixed assets21 | €660 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €67,713 | €146,106 | €122,508 | €135,789 | €181,725 | ▲ 33.8% |
| Land and buildings22 | - | €108,643 | €108,728 | €98,837 | €87,404 | ▼ 11.6% |
| Plant, machinery and equipment23 | - | €36,983 | €13,780 | €10,265 | €74,630 | ▲ 627% |
| Furniture and vehicles24 | - | €480 | - | €26,687 | €19,691 | ▼ 26.2% |
| Current assets29/58 | €395,693 | €429,006 | €699,348 | €834,288 | €935,362 | ▲ 12.1% |
| Stocks and contracts in progress3 | €37,315 | €47,715 | €54,715 | €34,965 | €39,675 | ▲ 13.5% |
| Stocks30/36 | - | €47,715 | €54,715 | €34,965 | €39,675 | ▲ 13.5% |
| Amounts receivable within one year40/41 | €177,125 | €221,600 | €399,699 | €423,840 | €157,998 | ▼ 62.7% |
| Trade receivables40 | - | €189,082 | €351,218 | €276,002 | €157,443 | ▼ 43.0% |
| Other amounts receivable41 | - | €32,518 | €48,481 | €147,838 | €555 | ▼ 99.6% |
| Cash at bank and in hand54/58 | €171,560 | €151,043 | €244,934 | €375,483 | €731,022 | ▲ 94.7% |
| Deferred charges and accrued income490/1 | - | €8,648 | - | - | €6,667 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €464,066 | €575,112 | €821,856 | €970,077 | €1.1m | ▲ 15.2% |
| Equity10/15 | €342,529 | €441,743 | €441,743 | €665,204 | €907,658 | ▲ 36.4% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | - | - | - | - |
| Issued capital100 | - | €18,600 | - | - | - | - |
| Reserves13 | €61,115 | €422,546 | €423,143 | €646,604 | €889,058 | ▲ 37.5% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | - | - | - |
| Distributable reserves133 | - | €420,686 | €421,283 | €646,604 | €889,058 | ▲ 37.5% |
| Profit (loss) carried forward14 | €262,814 | €597 | - | - | - | - |
| Amounts payable17/49 | €121,537 | €133,369 | €380,113 | €304,873 | €209,429 | ▼ 31.3% |
| Amounts payable after more than one year17 | €51,054 | €36,686 | €53,623 | €23,858 | €37,505 | ▲ 57.2% |
| Financial debts170/4 | - | €36,686 | €53,623 | €23,858 | €37,505 | ▲ 57.2% |
| Amounts payable within one year42/48 | €70,483 | €94,471 | €317,940 | €281,015 | €171,924 | ▼ 38.8% |
| Current portion of amounts payable after more than one year42 | - | €39,368 | €29,476 | €30,936 | €33,519 | ▲ 8.3% |
| Trade debts44 | - | €45,437 | €162,241 | €204,026 | €34,760 | ▼ 83.0% |
| Suppliers440/4 | - | €45,437 | €162,241 | €204,026 | €34,760 | ▼ 83.0% |
| Taxes, remuneration and social security45 | - | €9,666 | €22,894 | €46,053 | €102,589 | ▲ 123% |
| Taxes450/3 | - | €2,711 | €14,932 | €26,946 | €59,634 | ▲ 121% |
| Remuneration and social security454/9 | - | €6,955 | €7,962 | €19,107 | €42,955 | ▲ 125% |
| Other amounts payable47/48 | - | - | €103,329 | - | €1,056 | - |
| Accrued charges and deferred income492/3 | - | €2,212 | €8,550 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,400 | €99,214 | €103,326 | €223,458 | €489,517 | ▲ 119% |
| + Depreciation and write-downs630 | €42,595 | €42,286 | €37,493 | €21,867 | €37,729 | ▲ 72.5% |
| Operating cash flow (approximation) | €83,995 | €141,500 | €140,819 | €245,325 | €527,246 | ▲ 115% |
| Investment in fixed assets (approximation) | - | -€120,019 | -€13,895 | -€35,148 | -€83,665 | ▼ 138% |
| Change in cash | - | -€20,517 | €93,891 | €130,549 | €355,539 | ▲ 172% |
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Highest result since 2018net €489,517 ▲119%
Operating result €643,418, net result €489,517, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 31 days late
2023
31-12
Financial
Equity above €500,000Eq €665,204 ▲50.6%
6 profitable years in a row build equity to €665,204.
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 32 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €41,400 ▼55.5%
Net result drops to €41,400, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
09-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 70 days late
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 22 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Bilzen-Hoeselt · 1 establishment unit since 2011
Ground area
1,265 m²
Building footprint
563 m²
Volume, LiDAR
3,125 m³
Parcel 73032G0484/00G002, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Glas Express
since 20112.195.797.017
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73032G0484/00G002 | Flanders | 1,265 m² | 1 · 563 m² | 9.5 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.
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Of 489 companies in sector 43343 we hold annual accounts for 294. 193 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
Founded28-01-2011
Fiscal year end31-12
Activities, NACEBEL 2025
43343Specialised construction activities
Contact
Phone
089/51.44.48
E-invoicing
Reachable via Peppol
Peppol ID
0208:0833244945
Also
9925:BE0833244945
Registered
19-03-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.