GLM
ActiveSummary
The computed 12-month bankruptcy probability of GLM is 2.5% (moderate). The 2025 annual accounts show equity of €47k and a net result of €30k. Equity is growing by ~87% per year across the filed fiscal years. Its solvency ranks better than 9% of 7838 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability45▲+15
Solvency31▲+4
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity short (current ratio 0.37 against 0.48 in 2024; short-term debt: 14.5% and cash: 0.7% of total assets), and 94.4% 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
Specialised construction activities (NACE 43)
about 85% 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
5.6%
Return on assets
3.5%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 7838 sector peers (2025).
NBB · sector comparisonPosition among 7838 sector peers
Solvency
better than 9%
← weakest
strongest →
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 30-07-2026, 1 day ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
1 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
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€30k▲ 1,716%
2024 · €2k
2023: €11k
2024: €2k▼ -85.6% vs 2023lowest in 3 years
2025: €30k▲ +1716% vs 2024highest in 3 years
2023 → 2025
Working capital
€-78k▼ 54.2%
2024 · €-51k
2023: €9khighest in 3 years
2024: €-51k▼ -696% vs 2023
2025: €-78k▼ -54.2% vs 2024lowest in 3 years
2023 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€16k-€18k▲ 10.0%€47k▲ 165%
2023: €16klowest in 3 years
2024: €18k▲ +10.0% vs 2023
2025: €47k▲ +165% vs 2024highest in 3 years
Operating result€18k-€24k▲ 32.4%€67k▲ 187%
2023: €18klowest in 3 years
2024: €24k▲ +32.4% vs 2023
2025: €67k▲ +187% vs 2024highest in 3 years
Net result€11k-€2k▼ 85.6%€30k▲ 1,716%
2023: €11k
2024: €2k▼ -85.6% vs 2023lowest in 3 years
2025: €30k▲ +1716% vs 2024highest in 3 years
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 187% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €851k
Fixed assets
€806k ▲ 0.3%
Current assets
€45k ▼ 2.5%
Equity and liabilities €851k
Equity
€47k ▲ 165%
Debt
€804k ▼ 3.4%
Debt's share of the balance-sheet total falls from 97.9% to 94.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€71k▲
2024 · €26k
Cash flow
€33k▲
2024 · €4k
Current ratio
0.37▼
2024 · 0.48
Debt to equity
16.96▼
2024 · 46.51
ROE
62.3%▲
2024 · 9.1%
ROA
3.5%▲
2024 · 0.2%
Interest coverage
2.66▲
2024 · 1.29
Debt ≤ 1 year
€123k▲
2024 · €97k
Debt > 1 year
€676k▼
2024 · €734k
Income taxes
€11k▲
2024 · €2k
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 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€850k€851k▲
Fixed assets21/28€804k€806k▲
Tangible fixed assets22/27€8k€10k▲
Plant, machinery and equipment23€5k€8k▲
Furniture and vehicles24€3k€2k▼
Financial fixed assets28€796k€796k=
Current assets29/58€46k€45k▼
Amounts receivable within one year40/41€35k€37k▲
Trade receivables40€35k€37k▲
Other amounts receivable41-€894
Cash at bank and in hand54/58€9k€6k▼
Deferred charges and accrued income490/1€2k€1k▼
Equity and liabilities
Total equity and liabilities10/49€850k€851k▲
Equity10/15€18k€47k▲
Contributions10/11€5k€5k=
Reserves13€13k€42k▲
Distributable reserves133€13k€42k▲
Amounts payable17/49€832k€804k▼
Amounts payable after more than one year17€734k€676k▼
Financial debts170/4€676k€634k▼
Other amounts payable178/9€58k€43k▼
Amounts payable within one year42/48€97k€123k▲
Current portion of amounts payable after more than one year42€56k€57k▲
Trade debts44€16k€26k▲
Suppliers440/4€16k€26k▲
Taxes, remuneration and social security45€15k€22k▲
Taxes450/3€15k€22k▲
Other amounts payable47/48€10k€18k▲
Accrued charges and deferred income492/3€1k€4k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€4k▲
Other operating charges640/8€440€1k▲
Gross operating margin9900€27k€72k▲
Operating profit (loss)9901€24k€67k▲
Financial income75/76B€2€0▼
Recurring financial income75€2€0▼
Financial charges65/66B€20k€27k▲
Recurring financial charges65€20k€27k▲
Profit (loss) for the period before taxes9903€3k€41k▲
Income taxes67/77€2k€11k▲
Profit (loss) for the period9904€2k€30k▲
Profit (loss) for the period to be appropriated9905€2k€30k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2k€30k▲
Transfer from equity791/2€11k€13k▲
Transfer to equity691/2€13k€42k▲
To other reserves6921€13k€42k▲
The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €566 | €3k | €4k | ▲ 37.5% |
| Other operating charges640/8 | €136 | €440 | €1k | ▲ 142% |
| Gross operating margin9900 | €18k | €27k | €72k | ▲ 171% |
| Operating profit (loss)9901 | €18k | €24k | €67k | ▲ 187% |
| Financial income75/76B | - | €2 | €0 | ▼ 100% |
| Recurring financial income75 | - | €2 | €0 | ▼ 100% |
| Financial charges65/66B | €3k | €20k | €27k | ▲ 31.3% |
| Recurring financial charges65 | €3k | €20k | €27k | ▲ 31.3% |
| Profit (loss) for the period before taxes9903 | €15k | €3k | €41k | ▲ 1,170% |
| Income taxes67/77 | €3k | €2k | €11k | ▲ 611% |
| Profit (loss) for the period9904 | €11k | €2k | €30k | ▲ 1,716% |
| Profit (loss) for the period to be appropriated9905 | €11k | €2k | €30k | ▲ 1,716% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €53k | €850k | €851k | ▲ 0.2% |
| Fixed assets21/28 | €8k | €804k | €806k | ▲ 0.3% |
| Tangible fixed assets22/27 | €8k | €8k | €10k | ▲ 31.4% |
| Plant, machinery and equipment23 | €3k | €5k | €8k | ▲ 77.7% |
| Furniture and vehicles24 | €4k | €3k | €2k | ▼ 31.9% |
| Financial fixed assets28 | - | €796k | €796k | = |
| Current assets29/58 | €46k | €46k | €45k | ▼ 2.5% |
| Amounts receivable within one year40/41 | €13k | €35k | €37k | ▲ 7.0% |
| Trade receivables40 | €13k | €35k | €37k | ▲ 4.5% |
| Other amounts receivable41 | - | - | €894 | - |
| Cash at bank and in hand54/58 | €32k | €9k | €6k | ▼ 32.4% |
| Deferred charges and accrued income490/1 | €558 | €2k | €1k | ▼ 31.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €53k | €850k | €851k | ▲ 0.2% |
| Equity10/15 | €16k | €18k | €47k | ▲ 165% |
| Contributions10/11 | €5k | €5k | €5k | = |
| Reserves13 | €11k | €13k | €42k | ▲ 229% |
| Distributable reserves133 | €11k | €13k | €42k | ▲ 229% |
| Amounts payable17/49 | €37k | €832k | €804k | ▼ 3.4% |
| Amounts payable after more than one year17 | - | €734k | €676k | ▼ 7.8% |
| Financial debts170/4 | - | €676k | €634k | ▼ 6.2% |
| Other amounts payable178/9 | - | €58k | €43k | ▼ 26.1% |
| Amounts payable within one year42/48 | €37k | €97k | €123k | ▲ 27.1% |
| Current portion of amounts payable after more than one year42 | - | €56k | €57k | ▲ 2.1% |
| Trade debts44 | €27k | €16k | €26k | ▲ 65.4% |
| Suppliers440/4 | €27k | €16k | €26k | ▲ 65.4% |
| Taxes, remuneration and social security45 | €7k | €15k | €22k | ▲ 46.8% |
| Taxes450/3 | €7k | €15k | €22k | ▲ 46.8% |
| Other amounts payable47/48 | €3k | €10k | €18k | ▲ 77.8% |
| Accrued charges and deferred income492/3 | - | €1k | €4k | ▲ 216% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €2k | €30k | ▲ 1,716% |
| + Depreciation and write-downs630 | €566 | €3k | €4k | ▲ 37.5% |
| Operating cash flow (approximation) | €12k | €4k | €33k | ▲ 675% |
| Investment in fixed assets (approximation) | - | €-798k | €-6k | ▲ 99.2% |
| Change in cash | - | €-23k | €-3k | ▲ 87.0% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2023net €30k ▲1,716%
Operating result €67k, net result €30k, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €2k ▼85.6%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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, Oreye · 1 establishment unit since 2022
Ground area
1,341 m²
Building footprint
261 m²
Parcel 64056B0287/00H000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue de la Westrée 56, 4360 Oreye
since 20222.340.183.002
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64056B0287/00H000 | Wallonia | 1,341 m² | 1 · 261 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.
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Of 8,454 companies in sector 43120 we hold annual accounts for 3,231. 2,479 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
Founded29-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43130Specialised construction activities
81300Landscape service activities
Scores and ratios are computed by Checked and are not a credit decision.