GM CONSTRUCT
Open bankruptcyA bankruptcy procedure is open for GM CONSTRUCT according to publications in the Belgian State Gazette. The 2024 annual accounts show equity of €27k and a net result of €-37k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 · 7 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
92 d early
2022
63 d late
2021
153 d late
2020
90 d late
2019
26 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Turnover
€162k▲ 154%
2019 · €64k
2018: €16k
2019: €64k
2018 → 2020
EBIT margin
15.3%▼ 14.0pp
2019 · 29.3%
2018: 2.1%
2019: 29.3%
2018 → 2020
Net result
€-37k
2023 · €17k
2018: €153
2019: €14k
2020: €19k
2021: €-1k
2022: €15k
2023: €17k
2018 → 2024
Working capital
€16k▼ 70.9%
2023 · €54k
2018: €154
2019: €14k
2020: €32k
2021: €29k
2022: €46k
2023: €54k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€162k-
Equity€33k-€32k▼ 3.7%€47k▲ 48.2%€64k▲ 36.1%€27k▼ 58.0%
Operating result€25k-€-518€20k€25k▲ 24.2%€-36k
Net result€19k-€-1k€15k€17k▲ 11.0%€-37k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €36k after €25k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €38k
Fixed assets
€11k▲ 12.1%
Current assets
€27k▼ 70.5%
Equity and liabilities €38k
Equity
€27k▼ 58.0%
Debt
€11k▼ 69.9%
The debt ratio falls from 36.0% to 28.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-33k▼
2023 · €28k
Cash flow
€-33k▼
2023 · €20k
Solvency
71.2%▲
2023 · 64.0%
Current ratio
2.45▼
2023 · 2.50
Quick ratio
2.45▼
2023 · 2.50
Debt / equity
0.40▼
2023 · 0.56
ROE
-138.1%▼
2023 · 26.5%
ROA
-98.3%▼
2023 · 17.0%
Interest coverage
-10.00▼
2023 · 7.21
Debt
€11k▼
2023 · €36k
Debt ≤ 1 year
€11k▼
2023 · €36k
Income taxes
€162▼
2023 · €7k
Staff costs
€6k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€100k€38k▼
Fixed assets21/28€10k€11k▲
Tangible fixed assets22/27€10k€11k▲
Furniture and vehicles24€10k€11k▲
Current assets29/58€90k€27k▼
Amounts receivable within one year40/41€84k€20k▼
Trade receivables40€7k€4k▼
Other amounts receivable41€78k€16k▼
Cash at bank and in hand54/58€4k€5k▲
Deferred charges and accrued income490/1€1k€2k▲
Equity and liabilities
Total equity and liabilities10/49€100k€38k▼
Equity10/15€64k€27k▼
Contributions10/11€1€1=
Reserves13€64k€64k=
Non-distributable reserves130/1€14k€14k=
Reserves not available under the articles1311€14k€14k=
Distributable reserves133€50k€50k=
Profit (loss) carried forward14-€-37k
Amounts payable17/49€36k€11k▼
Amounts payable within one year42/48€36k€11k▼
Trade debts44€23k€3k▼
Suppliers440/4€23k€3k▼
Taxes, remuneration and social security45€13k€7k▼
Taxes450/3€13k€7k▼
Income statement
Code20232024
Non-recurring operating income76A€111€11k▲
Remuneration, social security and pensions62-€6k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€4k▲
Other operating charges640/8€751€237▼
Gross operating margin9900€29k€-27k▼
Operating profit (loss)9901€25k€-36k▼
Financial income75/76B€3k€3k▼
Recurring financial income75€3k€3k▼
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€24k€-37k▼
Income taxes67/77€7k€162▼
Profit (loss) for the period9904€17k€-37k▼
Profit (loss) for the period to be appropriated9905€17k€-37k▼
Appropriation of the result
Profit (loss) to be appropriated9906€17k€-37k▼
Transfer to equity691/2€17k-
To other reserves6921€17k-
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
21-05
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Hasselt · GM CONSTRUCT BV RING- LAAN 15 BUS 1, 3550 HEUSDEN (LIMB.) · event 15-05-2025
2024
31-12
Financial
Weakest financial yearnet €-37k ▼319%
Net result drops to €-37k, the lowest in the series.
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
02-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 63 days late
2022
31-12
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 153 days late
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 90 days late
2020
31-12
Financial
Highest result since 2018net €19k ▲39.4%
Net result €19k, the highest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
2019
31-12
Financial
Liquidity doublescurrent ratio 2.74
Current ratio from 1.26 to 2.74.
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 92 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Heusden-Zolder · 1 establishment unit since 2018
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.
Ringlaan 153550 Heusden-ZolderGround area
2,338 m²
Building footprint
178 m²
Volume, LiDAR
1,747 m³
Parcel 71065B0205/00V000, Flanders · tallest building 15.3 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
GM CONSTRUCT
since 20182.279.077.554
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71065B0205/00V000 | Flanders | 2,337 m² | 1 · 178 m² | 15.3 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | TOM ARTS JAARBEURSLAAN 19/31, 3600 GENK- |
15-05-2025 → present |
| Curator | GEERT RENIERS JAARBEURSLAAN 19/31,
3600 GENK |
15-05-2025 → present |
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Of 15,529 companies in sector 43990 we hold annual accounts for 7,423. 5,563 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded19-06-2018
Fiscal year end31-12
Activities, NACEBEL
43990Other specialised construction activities
43999Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.