Summary
GM De Souter is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €20,460 and a net result of €144,585. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 7% of 5585 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 7% of 5585 sector peers (2025).
NBB · sector comparisonPosition among 5585 sector peers
Solvency
better than 7%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 10-03-2026, 51 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
51 d early
2024
47 d early
2023
50 d early
2022
59 d early
2021
46 d early
2020
56 d early
2019
24 d early
← 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 48 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 12 March (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€20,460=
2024 · €20,460
Net result
€144,585▼ 0.3%
2024 · €145,064
Total assets
€706,460▼ 22.8%
2024 · €915,355
Solvency
2.9%▲ 0.7pp
2024 · 2.2%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line20212022202320242025
Operating result€110,254▲ 7.2%€151,226▲ 37.2%€62,468▼ 58.7%€205,895▲ 230%€200,155▼ 2.8%
Net result€81,183above the sector's middle half▲ 4.6%€106,243above the sector's middle half▲ 30.9%€34,552within the sector's middle half▼ 67.5%€145,064within the sector's middle half▲ 320%€144,585within the sector's middle half▼ 0.3%
Equity€248,995within the sector's middle half▲ 48.4%€155,239within the sector's middle half▼ 37.7%€20,460below the sector's middle half▼ 86.8%€20,460below the sector's middle half=€20,460below the sector's middle half=
Total assets€638,105within the sector's middle half▲ 86.7%€1.1mabove the sector's middle half▲ 67.6%€910,903within the sector's middle half▼ 14.8%€915,355within the sector's middle half▲ 0.5%€706,460within the sector's middle half▼ 22.8%
Debt€389,110▲ 124%€914,328▲ 135%€890,443▼ 2.6%€894,895▲ 0.5%€686,000▼ 23.3%
Working capital€168,699above the sector's middle half▲ 6.7%-€46,586below the sector's middle half-€236,984below the sector's middle half▼ 409%-€289,416below the sector's middle half▼ 22.1%-€54,460within the sector's middle half▲ 81.2%
Solvency39.0%within the sector's middle half▼ 10.1pp14.5%below the sector's middle half▼ 24.5pp2.2%below the sector's middle half▼ 12.3pp2.2%below the sector's middle half=2.9%below the sector's middle half▲ 0.7pp
Current ratio7.36above the sector's middle half▼ 10.860.83within the sector's middle half▼ 6.530.23below the sector's middle half▼ 0.590.24below the sector's middle half▲ 0.010.74within the sector's middle half▲ 0.50
Return on assets (ROA)12.7%within the sector's middle half▼ 10.0pp9.9%within the sector's middle half▼ 2.8pp3.8%within the sector's middle half▼ 6.1pp15.8%above the sector's middle half▲ 12.1pp20.5%above the sector's middle half▲ 4.6pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €706,460
Fixed assets
€547,490 ▼ 33.4%
Current assets
€158,970 ▲ 69.5%
Equity and liabilities €706,460
Equity
€20,460 =
Debt
€686,000 ▼ 23.3%
Debt's share of the balance-sheet total falls from 97.8% to 97.1%. Debt is lower.
Key figures and ratios
ROE
706.7%▼
2024 · 709.0%
Debt ≤ 1 year
€213,430▼
2024 · €383,195
Debt > 1 year
€472,570▼
2024 · €511,700
Income taxes
€45,175▼
2024 · €52,153
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,423 | €5,741 | €16,772 | €16,646 | €24,239 | ▲ 45.6% |
| Other operating charges640/8 | - | €259 | €740 | €3,142 | €5,467 | ▲ 74.0% |
| Non-recurring operating charges66A | - | €2,297 | €0 | - | - | - |
| Gross operating margin9900 | €116,388 | €159,523 | €79,979 | €225,682 | €229,861 | ▲ 1.9% |
| Operating profit (loss)9901 | €110,254 | €151,226 | €62,468 | €205,895 | €200,155 | ▼ 2.8% |
| Financial income75/76B | - | €0 | €224 | €1,328 | €290 | ▼ 78.2% |
| Recurring financial income75 | €6 | €0 | €224 | €1,328 | €290 | ▼ 78.2% |
| Financial charges65/66B | - | €7,336 | €14,267 | €10,006 | €10,685 | ▲ 6.8% |
| Recurring financial charges65 | €7,702 | €7,336 | €14,267 | €10,006 | €10,685 | ▲ 6.8% |
| Profit (loss) for the period before taxes9903 | €102,558 | €143,890 | €48,425 | €197,217 | €189,760 | ▼ 3.8% |
| Income taxes67/77 | €21,375 | €37,647 | €13,873 | €52,153 | €45,175 | ▼ 13.4% |
| Profit (loss) for the period9904 | €81,183 | €106,243 | €34,552 | €145,064 | €144,585 | ▼ 0.3% |
| Profit (loss) for the period to be appropriated9905 | €81,183 | €106,243 | €34,552 | €145,064 | €144,585 | ▼ 0.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €638,105 | €1.1m | €910,903 | €915,355 | €706,460 | ▼ 22.8% |
| Fixed assets21/28 | €442,879 | €845,994 | €838,222 | €821,576 | €547,490 | ▼ 33.4% |
| Tangible fixed assets22/27 | €442,879 | €549,571 | €541,799 | €525,153 | €547,490 | ▲ 4.3% |
| Land and buildings22 | - | €540,767 | €537,247 | €523,033 | €508,818 | ▼ 2.7% |
| Plant, machinery and equipment23 | - | €0 | - | - | - | - |
| Furniture and vehicles24 | - | €7,158 | €3,096 | €855 | €1,534 | ▲ 79.4% |
| Leasing and similar rights25 | - | - | - | - | €36,062 | - |
| Other tangible fixed assets26 | - | €1,646 | €1,456 | €1,265 | €1,075 | ▼ 15.1% |
| Financial fixed assets28 | - | €296,423 | €296,423 | €296,423 | €0 | ▼ 100% |
| Current assets29/58 | €195,225 | €223,572 | €72,681 | €93,779 | €158,970 | ▲ 69.5% |
| Amounts receivable within one year40/41 | €8 | €4,299 | €1,735 | €0 | €73,990 | - |
| Trade receivables40 | - | €3,946 | €0 | - | €73,990 | - |
| Other amounts receivable41 | - | €353 | €1,735 | €0 | - | - |
| Current investments50/53 | - | - | €50,000 | €25,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €193,253 | €214,078 | €19,694 | €66,682 | €82,098 | ▲ 23.1% |
| Deferred charges and accrued income490/1 | - | €5,195 | €1,252 | €2,097 | €2,882 | ▲ 37.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €638,105 | €1.1m | €910,903 | €915,355 | €706,460 | ▼ 22.8% |
| Equity10/15 | €248,995 | €155,239 | €20,460 | €20,460 | €20,460 | = |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €230,395 | €136,639 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | €134,779 | €0 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €389,110 | €914,328 | €890,443 | €894,895 | €686,000 | ▼ 23.3% |
| Amounts payable after more than one year17 | €362,583 | €644,170 | €578,551 | €511,700 | €472,570 | ▼ 7.6% |
| Financial debts170/4 | - | €644,170 | €578,551 | €511,700 | €472,570 | ▼ 7.6% |
| Amounts payable within one year42/48 | €26,527 | €270,158 | €309,665 | €383,195 | €213,430 | ▼ 44.3% |
| Current portion of amounts payable after more than one year42 | - | €64,439 | €63,194 | €66,851 | €76,590 | ▲ 14.6% |
| Trade debts44 | €2,898 | €1,567 | €1,988 | €2,021 | €1,920 | ▼ 5.0% |
| Suppliers440/4 | - | €1,567 | €1,988 | €2,021 | €1,920 | ▼ 5.0% |
| Taxes, remuneration and social security45 | - | €3,535 | €3,612 | €26,774 | €20,052 | ▼ 25.1% |
| Taxes450/3 | - | €3,535 | €3,612 | €26,774 | €20,052 | ▼ 25.1% |
| Other amounts payable47/48 | - | €200,616 | €240,871 | €287,549 | €114,868 | ▼ 60.1% |
| Accrued charges and deferred income492/3 | - | - | €2,227 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €81,183 | €106,243 | €34,552 | €145,064 | €144,585 | ▼ 0.3% |
| + Depreciation and write-downs630 | €5,423 | €5,741 | €16,772 | €16,646 | €24,239 | ▲ 45.6% |
| Operating cash flow (approximation) | €86,605 | €111,984 | €51,323 | €161,710 | €168,825 | ▲ 4.4% |
| Investment in fixed assets (approximation) | - | -€408,856 | -€8,999 | €0 | €249,847 | - |
| Change in cash | - | €20,825 | -€194,384 | €46,988 | €15,416 | ▼ 67.2% |
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
10-03
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
14-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Highest result since 2019net €145,064 ▲320%
Operating result €205,895, net result €145,064, both a record.
11-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Weakest financial yearnet €34,552 ▼67.5%
Net result drops to €34,552, the lowest in the series; recovery starts the following year.
02-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
15-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Equity above €200,000Eq €248,995 ▲48.4%
3 profitable years in a row build equity to €248,995.
05-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Equity above €150,000Eq €167,813 ▲86%
2 profitable years in a row build equity to €167,813.
06-04
NBB filing
Annual accounts filed
fiscal year 2019 · 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, Schelle · 1 establishment unit since 2018
Ground area
547 m²
Building footprint
125 m²
Volume, LiDAR
792 m³
Parcel 11038B0026/00Y000, Flanders · tallest building 11.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GM De Souter
since 20182.280.977.566
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11038B0026/00Y000 | Flanders | 547 m² | 1 · 125 m² | 11.3 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 30-09-2024 list no shareholders, and no other source names one.
Holdings 1
-
3%
According to the annual accounts to 30-09-2024 of GM De Souter and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,800. 7,470 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
Founded02-10-2018
Fiscal year end30-09
Activities, NACEBEL 2025
64210Activities of holding companies
70100Activities of head offices
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0707646474
Also
9925:BE0707646474
Registered
24-11-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.