GLOBAL PROGRAM MANAGEMENT
ActiveSummary
The annual accounts of GLOBAL PROGRAM MANAGEMENT for fiscal year 2025 show a net loss of 95% of total assets. The 2025 annual accounts show equity of €121k and a net result of €-119k. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 95% of 31791 sector peers (fiscal year 2025). The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
59
/ 100
Fair
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-63
Solvency100=
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 23.74 against 11.49 in 2024; short-term debt: 3% and cash: 41.7% of total assets), and 3% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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
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
97%
Return on assets
-95.3%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-119k
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
4 d late
2023
30 d late
2022
25 d early
2021
31 d late
2020
2 d late
2019
62 d late
← 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, micro schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€121k▼ 49.6%
2024 · €240k
2018: €210k
2019: €210k● 0.0% vs 2018
2020: €200k▼ -4.9% vs 2019
2021: €219k▲ +9.6% vs 2020
2022: €235k▲ +7.5% vs 2021
2023: €251k▲ +6.8% vs 2022highest in 8 years
2024: €240k▼ -4.7% vs 2023
2025: €121k▼ -49.6% vs 2024lowest in 8 years
2018 → 2025
Total assets
€125k▼ 52.0%
2024 · €260k
2018: €225k
2019: €225k● 0.0% vs 2018
2020: €218k▼ -3.2% vs 2019
2021: €257k▲ +17.7% vs 2020
2022: €272k▲ +6.1% vs 2021highest in 8 years
2023: €267k▼ -2.0% vs 2022
2024: €260k▼ -2.7% vs 2023
2025: €125k▼ -52.0% vs 2024lowest in 8 years
2018 → 2025
Net result
€-119k▼ 902%
2024 · €-12k
2018: €19k
2019: €-51k▼ -372% vs 2018
2020: €-51k● -0.0% vs 2019
2021: €31k▲ +161% vs 2020highest in 8 years
2022: €16k▼ -47.7% vs 2021
2023: €16k▼ -1.7% vs 2022
2024: €-12k▼ -174% vs 2023
2025: €-119k▼ -902% vs 2024lowest in 8 years
2018 → 2025
Working capital
€86k▼ 55.3%
2024 · €193k
2018: €205k
2019: €212k▲ +3.3% vs 2018
2020: €201k▼ -5.3% vs 2019
2021: €218k▲ +8.6% vs 2020
2022: €239k▲ +9.6% vs 2021highest in 8 years
2023: €190k▼ -20.4% vs 2022
2024: €193k▲ +1.4% vs 2023
2025: €86k▼ -55.3% 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€219k-€235k▲ 7.5%€251k▲ 6.8%€240k▼ 4.7%€121k▼ 49.6%
2021: €219k
2022: €235k▲ +7.5% vs 2021
2023: €251k▲ +6.8% vs 2022highest in 5 years
2024: €240k▼ -4.7% vs 2023
2025: €121k▼ -49.6% vs 2024lowest in 5 years
Operating result€40k-€24k▼ 39.6%€24k▼ 1.9%€-9k€-119k▼ 1,223%
2021: €40khighest in 5 years
2022: €24k▼ -39.6% vs 2021
2023: €24k▼ -1.9% vs 2022
2024: €-9k▼ -138% vs 2023
2025: €-119k▼ -1223% vs 2024lowest in 5 years
Net result€31k-€16k▼ 47.7%€16k▼ 1.7%€-12k€-119k▼ 902%
2021: €31khighest in 5 years
2022: €16k▼ -47.7% vs 2021
2023: €16k▼ -1.7% vs 2022
2024: €-12k▼ -174% vs 2023
2025: €-119k▼ -902% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €119k in 2025 against €9k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €125k
Fixed assets
€35k ▼ 28.2%
Current assets
€90k ▼ 57.4%
Equity and liabilities €125k
Equity
€121k ▼ 49.6%
Debt
€4k ▼ 81.0%
Debt's share of the balance-sheet total falls from 7.7% to 3.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-105k▼
2024 · €6k
Cash flow
€-104k▼
2024 · €3k
Current ratio
23.74▲
2024 · 11.49
Debt to equity
0.03▼
2024 · 0.08
ROE
-98.3%▼
2024 · -4.9%
ROA
-95.3%▼
2024 · -4.6%
Interest coverage
-451.84▼
2024 · 22.64
Debt ≤ 1 year
€4k▼
2024 · €18k
Income taxes
€177▼
2024 · €3k
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 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€260k€125k▼
Fixed assets21/28€48k€35k▼
Tangible fixed assets22/27€48k€34k▼
Plant, machinery and equipment23-€2k
Furniture and vehicles24€48k€32k▼
Financial fixed assets28€380€380=
Current assets29/58€211k€90k▼
Amounts receivable within one year40/41€28k€35k▲
Trade receivables40€14k€5k▼
Other amounts receivable41€14k€31k▲
Cash at bank and in hand54/58€181k€52k▼
Deferred charges and accrued income490/1€3k€3k▼
Equity and liabilities
Total equity and liabilities10/49€260k€125k▼
Equity10/15€240k€121k▼
Contributions10/11€19k€19k=
Reserves13€221k€142k▼
Distributable reserves133€221k€142k▼
Profit (loss) carried forward14€80€-40k▼
Amounts payable17/49€20k€4k▼
Amounts payable within one year42/48€18k€4k▼
Trade debts44€777€4k▲
Suppliers440/4€777€4k▲
Advances received on contracts in progress46€14k€0▼
Taxes, remuneration and social security45€3k€177▼
Taxes450/3€3k€177▼
Accrued charges and deferred income492/3€2k€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€14k▼
Other operating charges640/8€3k€1k▼
Gross operating margin9900€9k€-104k▼
Operating profit (loss)9901€-9k€-119k▼
Financial income75/76B€121€916▲
Recurring financial income75€121€916▲
Financial charges65/66B€271€232▼
Recurring financial charges65€271€232▼
Profit (loss) for the period before taxes9903€-9k€-119k▼
Income taxes67/77€3k€177▼
Profit (loss) for the period9904€-12k€-119k▼
Profit (loss) for the period to be appropriated9905€-12k€-119k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-12k€-119k▼
Profit (loss) brought forward from the previous period14P€62€80▲
Transfer from equity791/2€12k€79k▲
Transfer to equity691/2€0-
To other reserves6921€0-
The notes to these accounts (16 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 | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €232 | €968 | €6k | €15k | €14k | ▼ 5.3% |
| Other operating charges640/8 | €533 | €1k | €2k | €3k | €1k | ▼ 69.5% |
| Gross operating margin9900 | €41k | €26k | €31k | €9k | €-104k | ▼ 1,195% |
| Operating profit (loss)9901 | €40k | €24k | €24k | €-9k | €-119k | ▼ 1,223% |
| Financial income75/76B | €20 | €1 | €4 | €121 | €916 | ▲ 657% |
| Recurring financial income75 | €20 | €1 | €4 | €121 | €916 | ▲ 657% |
| Financial charges65/66B | €226 | €248 | €252 | €271 | €232 | ▼ 14.4% |
| Recurring financial charges65 | €226 | €248 | €252 | €271 | €232 | ▼ 14.4% |
| Profit (loss) for the period before taxes9903 | €40k | €24k | €23k | €-9k | €-119k | ▼ 1,194% |
| Income taxes67/77 | €8k | €7k | €7k | €3k | €177 | ▼ 93.4% |
| Profit (loss) for the period9904 | €31k | €16k | €16k | €-12k | €-119k | ▼ 902% |
| Profit (loss) for the period to be appropriated9905 | €31k | €16k | €16k | €-12k | €-119k | ▼ 902% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €257k | €272k | €267k | €260k | €125k | ▼ 52.0% |
| Fixed assets21/28 | €3k | €4k | €63k | €48k | €35k | ▼ 28.2% |
| Tangible fixed assets22/27 | €2k | €4k | €63k | €48k | €34k | ▼ 28.5% |
| Plant, machinery and equipment23 | - | - | - | - | €2k | - |
| Furniture and vehicles24 | €2k | €4k | €63k | €48k | €32k | ▼ 32.5% |
| Other tangible fixed assets26 | €0 | - | - | - | - | - |
| Financial fixed assets28 | €380 | €380 | €380 | €380 | €380 | = |
| Current assets29/58 | €254k | €268k | €204k | €211k | €90k | ▼ 57.4% |
| Amounts receivable within one year40/41 | €22k | €22k | €40k | €28k | €35k | ▲ 27.0% |
| Trade receivables40 | €22k | €22k | €31k | €14k | €5k | ▼ 66.0% |
| Other amounts receivable41 | - | - | €9k | €14k | €31k | ▲ 115% |
| Current investments50/53 | €200k | €240k | €0 | - | - | - |
| Cash at bank and in hand54/58 | €30k | €4k | €156k | €181k | €52k | ▼ 71.2% |
| Deferred charges and accrued income490/1 | €2k | €1k | €8k | €3k | €3k | ▼ 8.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €257k | €272k | €267k | €260k | €125k | ▼ 52.0% |
| Equity10/15 | €219k | €235k | €251k | €240k | €121k | ▼ 49.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €200k | €217k | €233k | €221k | €142k | ▼ 35.8% |
| Non-distributable reserves130/1 | €2k | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €0 | - | - | - |
| Distributable reserves133 | €199k | €215k | €233k | €221k | €142k | ▼ 35.8% |
| Profit (loss) carried forward14 | €0 | €12 | €62 | €80 | €-40k | ▼ 49,993% |
| Amounts payable17/49 | €38k | €37k | €15k | €20k | €4k | ▼ 81.0% |
| Amounts payable within one year42/48 | €36k | €29k | €13k | €18k | €4k | ▼ 79.4% |
| Trade debts44 | €2k | €3k | €6k | €777 | €4k | ▲ 365% |
| Suppliers440/4 | €2k | €3k | €6k | €777 | €4k | ▲ 365% |
| Advances received on contracts in progress46 | - | - | - | €14k | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €14k | €12k | €8k | €3k | €177 | ▼ 94.5% |
| Taxes450/3 | €12k | €12k | €8k | €3k | €177 | ▼ 94.5% |
| Remuneration and social security454/9 | €2k | €0 | - | - | - | - |
| Other amounts payable47/48 | €19k | €13k | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €2k | €8k | €2k | €2k | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31k | €16k | €16k | €-12k | €-119k | ▼ 902% |
| + Depreciation and write-downs630 | €232 | €968 | €6k | €15k | €14k | ▼ 5.3% |
| Operating cash flow (approximation) | €31k | €17k | €22k | €3k | €-104k | ▼ 3,264% |
| Investment in fixed assets (approximation) | - | €-3k | €-65k | €0 | €-776 | - |
| Change in cash | - | €-26k | €151k | €25k | €-129k | ▼ 617% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-119k
Net result drops to €-119k, the lowest in the series.
31-12
Financial
Liquidity doublescurrent ratio 23.74
Current ratio from 11.49 to 23.74; short-term debt falls from €18k to €4k.
04-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Back to profitnet €31k
Net result €31k after 2 loss-making years.
31-12
Financial
Equity above €200kEq €219k ▲9.6%
Equity rises from €200k to €219k.
02-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 2 days late
2020
01-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 62 days late
2019
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · 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, Wavre · 1 establishment unit since 1998
Ground area
4,813 m²
Building footprint
100 m²
Volume, LiDAR
679 m³
Parcel 25055D0186/00L000, Wallonia · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue Arthur Hardy 15, 1300 Wavre
since 19982.089.162.442
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25055D0186/00L000 | Wallonia | 4,813 m² | 1 · 100 m² | 8.5 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 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,863 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
Founded28-10-1998
Fiscal year end31-12
Abbreviation FR
G.P.M.
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.