GM-a
ActiveSummary
GM-a has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €187,467 and a net result of €54,534. Equity is growing by ~20.4% per year across the filed fiscal years. Its solvency ranks better than 62% of 3521 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▼-8
Solvency87▼-13
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €16,000 at 30 days acceptable
Liquidity ample (current ratio 2.36 against 6.54 in 2024; short-term debt: 37.7% and cash: 55.6% of total assets), and 37.7% of the assets are financed with debt.
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Signals
Five 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 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer 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
62.3%
Return on assets
18.1%
Age of the figures
9 mo
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
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
58 d early
2023
34 d early
2022
49 d early
2021
31 d early
2020
29 d early
2019
27 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 29 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
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. Usually files around 28 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€187,467▼ 8.3%
2024 · €204,434
Total assets
€300,949▲ 24.7%
2024 · €241,288
Net result
€54,534▼ 8.0%
2024 · €59,244
Working capital
€154,132▼ 24.5%
2024 · €204,074
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€30,575▲ 163%€65,609▲ 115%€55,898▼ 14.8%€84,158▲ 50.6%€78,842▼ 6.3%
Net result€21,374within the sector's middle half▲ 172%€44,443above the sector's middle half▲ 108%€37,455above the sector's middle half▼ 15.7%€59,244above the sector's middle half▲ 58.2%€54,534above the sector's middle half▼ 8.0%
Equity€83,292within the sector's middle half▲ 15.8%€115,734above the sector's middle half▲ 39.0%€153,190above the sector's middle half▲ 32.4%€204,434above the sector's middle half▲ 33.5%€187,467above the sector's middle half▼ 8.3%
Total assets€109,132within the sector's middle half▲ 22.5%€157,407within the sector's middle half▲ 44.2%€167,005within the sector's middle half▲ 6.1%€241,288above the sector's middle half▲ 44.5%€300,949above the sector's middle half▲ 24.7%
Debt€25,840▲ 50.6%€41,673▲ 61.3%€13,815▼ 66.8%€36,854▲ 167%€113,482▲ 208%
Working capital€83,292above the sector's middle half▲ 23.2%€115,969above the sector's middle half▲ 39.2%€152,638above the sector's middle half▲ 31.6%€204,074above the sector's middle half▲ 33.7%€154,132above the sector's middle half▼ 24.5%
Solvency76.3%above the sector's middle half▼ 4.4pp73.5%above the sector's middle half▼ 2.8pp91.7%above the sector's middle half▲ 18.2pp84.7%above the sector's middle half▼ 7.0pp62.3%within the sector's middle half▼ 22.4pp
Current ratio4.22above the sector's middle half▼ 0.723.80above the sector's middle half▼ 0.4212.05above the sector's middle half▲ 8.256.54above the sector's middle half▼ 5.512.36within the sector's middle half▼ 4.18
Return on assets (ROA)19.6%within the sector's middle half▲ 10.8pp28.2%above the sector's middle half▲ 8.6pp22.4%within the sector's middle half▼ 5.8pp24.6%within the sector's middle half▲ 2.1pp18.1%within the sector's middle half▼ 6.4pp
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 6% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €300,949
Fixed assets
€33,336 ▲ 9,178%
Current assets
€267,613 ▲ 11.1%
Equity and liabilities €300,949
Equity
€187,467 ▼ 8.3%
Debt
€113,482 ▲ 208%
Debt's share of the balance-sheet total rises from 15.3% to 37.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€79,436▼
2024 · €84,351
Cash flow
€55,128▼
2024 · €59,437
Debt to equity
0.61▲
2024 · 0.18
ROE
29.1%▲
2024 · 29.0%
Interest coverage
171.16▼
2024 · 373.02
Debt ≤ 1 year
€113,482▲
2024 · €36,854
Income taxes
€24,592▲
2024 · €24,528
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,696 companies that looked in July 2024 the way this one looks now, 0.7% 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
0.7%
went bankrupt
3.9%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 34,696 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €11,000 | €6,389 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,336 | - | €26 | €193 | €594 | ▲ 208% |
| Other operating charges640/8 | €482 | €6,245 | €6,525 | €597 | €612 | ▲ 2.5% |
| Non-recurring operating charges66A | €483 | €562 | - | - | - | - |
| Gross operating margin9900 | €35,876 | €72,417 | €62,449 | €84,948 | €80,048 | ▼ 5.8% |
| Operating profit (loss)9901 | €30,575 | €65,609 | €55,898 | €84,158 | €78,842 | ▼ 6.3% |
| Financial income75/76B | €460 | €377 | €0 | €36 | €747 | ▲ 1,972% |
| Recurring financial income75 | €460 | €377 | €0 | €36 | €747 | ▲ 1,972% |
| Financial charges65/66B | €277 | €264 | €631 | €423 | €464 | ▲ 9.7% |
| Recurring financial charges65 | €277 | €264 | €631 | €226 | €464 | ▲ 105% |
| Non-recurring financial charges66B | - | - | - | €197 | - | - |
| Profit (loss) for the period before taxes9903 | €30,758 | €65,722 | €55,267 | €83,772 | €79,125 | ▼ 5.5% |
| Income taxes67/77 | €9,384 | €21,280 | €17,812 | €24,528 | €24,592 | ▲ 0.3% |
| Profit (loss) for the period9904 | €21,374 | €44,443 | €37,455 | €59,244 | €54,534 | ▼ 8.0% |
| Profit (loss) for the period to be appropriated9905 | €21,374 | €44,443 | €37,455 | €59,244 | €54,534 | ▼ 8.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €109,132 | €157,407 | €167,005 | €241,288 | €300,949 | ▲ 24.7% |
| Fixed assets21/28 | - | - | €552 | €359 | €33,336 | ▲ 9,178% |
| Tangible fixed assets22/27 | - | - | €552 | €359 | €33,336 | ▲ 9,178% |
| Furniture and vehicles24 | - | - | €552 | €359 | €1,179 | ▲ 228% |
| Other tangible fixed assets26 | - | - | - | - | €32,157 | - |
| Current assets29/58 | €109,132 | €157,407 | €166,453 | €240,928 | €267,613 | ▲ 11.1% |
| Amounts receivable within one year40/41 | €17,009 | €22,705 | €27,230 | €40,243 | €98,404 | ▲ 145% |
| Trade receivables40 | €8,500 | €20,225 | €23,900 | €32,461 | €33,263 | ▲ 2.5% |
| Other amounts receivable41 | €8,509 | €2,480 | €3,330 | €7,782 | €65,141 | ▲ 737% |
| Cash at bank and in hand54/58 | €90,546 | €132,207 | €137,457 | €199,040 | €167,460 | ▼ 15.9% |
| Deferred charges and accrued income490/1 | €1,577 | €2,495 | €1,766 | €1,646 | €1,749 | ▲ 6.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €109,132 | €157,407 | €167,005 | €241,288 | €300,949 | ▲ 24.7% |
| Equity10/15 | €83,292 | €115,734 | €153,190 | €204,434 | €187,467 | ▼ 8.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €48,783 | €80,783 | €117,783 | €139,783 | €118,283 | ▼ 15.4% |
| Non-distributable reserves130/1 | €1,283 | €1,283 | €1,283 | - | - | - |
| Reserves not available under the articles1311 | €1,283 | €1,283 | €1,283 | - | - | - |
| Distributable reserves133 | €47,500 | €79,500 | €116,500 | €139,783 | €118,283 | ▼ 15.4% |
| Profit (loss) carried forward14 | €28,309 | €28,751 | €29,207 | €58,451 | €62,985 | ▲ 7.8% |
| Amounts payable17/49 | €25,840 | €41,673 | €13,815 | €36,854 | €113,482 | ▲ 208% |
| Amounts payable within one year42/48 | €25,840 | €41,438 | €13,815 | €36,854 | €113,482 | ▲ 208% |
| Trade debts44 | €482 | €11,044 | €2,326 | €14,262 | €20,981 | ▲ 47.1% |
| Suppliers440/4 | €482 | €11,044 | €2,326 | €14,262 | €20,981 | ▲ 47.1% |
| Taxes, remuneration and social security45 | €15,358 | €18,394 | €6,887 | €14,592 | €21,001 | ▲ 43.9% |
| Taxes450/3 | €15,358 | €18,394 | €6,887 | €14,592 | €21,001 | ▲ 43.9% |
| Other amounts payable47/48 | €10,000 | €12,000 | €4,603 | €8,000 | €71,500 | ▲ 794% |
| Accrued charges and deferred income492/3 | - | €234 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,374 | €44,443 | €37,455 | €59,244 | €54,534 | ▼ 8.0% |
| + Depreciation and write-downs630 | €4,336 | - | €26 | €193 | €594 | ▲ 208% |
| Operating cash flow (approximation) | €25,709 | €44,443 | €37,481 | €59,437 | €55,128 | ▼ 7.2% |
| Investment in fixed assets (approximation) | - | - | - | €0 | -€33,570 | - |
| Change in cash | - | €41,661 | €5,250 | €61,583 | -€31,580 | ▼ 151% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €59,244 ▲58.2%
Operating result €84,158, net result €59,244, both a record.
31-12
Financial
Equity above €200,000Eq €204,434 ▲33.5%
7 profitable years in a row build equity to €204,434.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 12.05
Current ratio from 3.80 to 12.05; short-term debt falls from €41,438 to €13,815.
31-12
Financial
Equity above €150,000Eq €153,190 ▲32.4%
6 profitable years in a row build equity to €153,190.
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100,000Eq €115,734 ▲39%
5 profitable years in a row build equity to €115,734.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €7,861 ▼9.7%
Net result drops to €7,861, the lowest in the series; recovery starts the following year.
Show earlier events
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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, Ottignies-Louvain-la-Neuve · 1 establishment unit since 2011
Ground area
518 m²
Building footprint
129 m²
Volume, LiDAR
996 m³
2 parcels, Wallonia · tallest building 9.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
GM-a SC SPRL
since 20112.196.688.229
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25112D0216/00N000 | Wallonia | 279 m² | 1 · 60 m² | 9.2 m · 3 fl. |
| 25386B0088/00Z002 | Wallonia | 239 m² | 1 · 69 m² | 9.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 14,138 companies in sector 74201 we hold annual accounts for 2,616. 2,151 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
Founded01-03-2011
Fiscal year end31-12
Activities, NACEBEL 2025
74201Photography, excluding press photography
71111Activities of building architects
Contact
E-mail
mathygregory@gmail.comWavre
Phone
0476/68.73.76Wavre
E-invoicing
Reachable via Peppol
Peppol ID
0208:0834140810
Also
9925:BE0834140810
Registered
19-06-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.