GMSC
ActiveSummary
The computed 12-month bankruptcy probability of GMSC is 1.8% (moderate). The 2025 annual accounts show equity of €2k and a net result of €8k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 788 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency31▼-49
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Five 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 78
Relative position
BE, all sectors
reference
Employment activities (NACE 78)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 788 sector peers (2025).
NBB · sector comparisonPosition among 788 sector peers
Solvency
better than 19%
← 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 24-04-2026, 98 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
98 d early
2024
28 d early
2023
26 d early
2022
27 d early
2021
34 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, micro schema
Equity
€2k▼ 94.5%
2024 · €36k
2021: €4k
2022: €19k▲ +373% vs 2021
2023: €1k▼ -92.4% vs 2022lowest in 5 years
2024: €36k▲ +2465% vs 2023highest in 5 years
2025: €2k▼ -94.5% vs 2024
2021 → 2025
Total assets
€31k▼ 52.5%
2024 · €66k
2021: €33k
2022: €34k▲ +0.9% vs 2021
2023: €16k▼ -51.6% vs 2022lowest in 5 years
2024: €66k▲ +306% vs 2023highest in 5 years
2025: €31k▼ -52.5% vs 2024
2021 → 2025
Net result
€8k▼ 76.1%
2024 · €35k
2021: €-26klowest in 5 years
2022: €15k▲ +156% vs 2021
2023: €-17k▼ -217% vs 2022
2024: €35k▲ +303% vs 2023highest in 5 years
2025: €8k▼ -76.1% vs 2024
2021 → 2025
Working capital
€-4k
2024 · €31k
2021: €-18klowest in 5 years
2022: €4k▲ +125% vs 2021
2023: €-6k▼ -238% vs 2022
2024: €31k▲ +610% vs 2023highest in 5 years
2025: €-4k▼ -114% vs 2024
2021 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€4k-€19k▲ 373%€1k▼ 92.4%€36k▲ 2,465%€2k▼ 94.5%
2021: €4k
2022: €19k▲ +373% vs 2021
2023: €1k▼ -92.4% vs 2022lowest in 5 years
2024: €36k▲ +2465% vs 2023highest in 5 years
2025: €2k▼ -94.5% vs 2024
Operating result€-26k-€15k€-17k€37k€11k▼ 69.1%
2021: €-26klowest in 5 years
2022: €15k▲ +157% vs 2021
2023: €-17k▼ -215% vs 2022
2024: €37k▲ +318% vs 2023highest in 5 years
2025: €11k▼ -69.1% vs 2024
Net result€-26k-€15k€-17k€35k€8k▼ 76.1%
2021: €-26klowest in 5 years
2022: €15k▲ +156% vs 2021
2023: €-17k▼ -217% vs 2022
2024: €35k▲ +303% vs 2023highest in 5 years
2025: €8k▼ -76.1% vs 2024
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 69% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €31k
Fixed assets
€6k ▲ 19.5%
Current assets
€25k ▼ 58.7%
Equity and liabilities €31k
Equity
€2k ▼ 94.5%
Debt
€29k ▼ 0.8%
Debt's share of the balance-sheet total rises from 44.8% to 93.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€15k▼
2024 · €42k
Cash flow
€12k▼
2024 · €40k
Current ratio
0.85▼
2024 · 2.05
Debt to equity
14.62▲
2024 · 0.81
ROE
415.8%▲
2024 · 96.1%
ROA
26.6%▼
2024 · 53.0%
Interest coverage
88.13▼
2024 · 218.00
Debt ≤ 1 year
€29k▼
2024 · €29k
Income taxes
€3k▲
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 · 39 lines
Balance sheet
Code20242025
Assets
Total assets20/58€66k€31k▼
Fixed assets21/28€5k€6k▲
Intangible fixed assets21€2k€4k▲
Tangible fixed assets22/27€3k€2k▼
Furniture and vehicles24€3k€2k▼
Current assets29/58€60k€25k▼
Amounts receivable within one year40/41€17k€20k▲
Trade receivables40€17k€19k▲
Other amounts receivable41€0€768▲
Cash at bank and in hand54/58€42k€5k▼
Deferred charges and accrued income490/1€2k€498▼
Equity and liabilities
Total equity and liabilities10/49€66k€31k▼
Equity10/15€36k€2k▼
Contributions10/11€30k€2k▼
Profit (loss) carried forward14€6k€0▼
Amounts payable17/49€29k€29k▼
Amounts payable within one year42/48€29k€29k▼
Trade debts44€7k€17k▲
Suppliers440/4€7k€17k▲
Advances received on contracts in progress46€777€0▼
Taxes, remuneration and social security45€8k€4k▼
Taxes450/3€8k€4k▼
Other amounts payable47/48€13k€8k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€4k▼
Other operating charges640/8€387€400▲
Gross operating margin9900€43k€16k▼
Operating profit (loss)9901€37k€11k▼
Financial income75/76B€1€0▼
Recurring financial income75€1€0▼
Financial charges65/66B€195€173▼
Recurring financial charges65€195€173▼
Profit (loss) for the period before taxes9903€37k€11k▼
Income taxes67/77€2k€3k▲
Profit (loss) for the period9904€35k€8k▼
Profit (loss) for the period to be appropriated9905€35k€8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€6k€15k▲
Profit (loss) brought forward from the previous period14P€-29k€6k▲
Profit to be distributed694/7-€15k
Return on contributions (dividend)694-€15k
The notes to these accounts (8 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €8k | €7k | €6k | €4k | ▼ 31.1% |
| Other operating charges640/8 | €845 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €-17k | €23k | €-10k | €43k | €16k | ▼ 63.5% |
| Operating profit (loss)9901 | €-26k | €15k | €-17k | €37k | €11k | ▼ 69.1% |
| Financial income75/76B | - | €36 | €0 | €1 | €0 | ▼ 100% |
| Recurring financial income75 | - | €36 | €0 | €1 | €0 | ▼ 100% |
| Financial charges65/66B | €240 | €158 | €168 | €195 | €173 | ▼ 11.3% |
| Recurring financial charges65 | €240 | €158 | €168 | €195 | €173 | ▼ 11.3% |
| Profit (loss) for the period before taxes9903 | €-26k | €15k | €-17k | €37k | €11k | ▼ 69.4% |
| Income taxes67/77 | - | - | - | €2k | €3k | ▲ 53.8% |
| Profit (loss) for the period9904 | €-26k | €15k | €-17k | €35k | €8k | ▼ 76.1% |
| Profit (loss) for the period to be appropriated9905 | €-26k | €15k | €-17k | €35k | €8k | ▼ 76.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €33k | €34k | €16k | €66k | €31k | ▼ 52.5% |
| Fixed assets21/28 | €22k | €14k | €7k | €5k | €6k | ▲ 19.5% |
| Intangible fixed assets21 | €19k | €13k | €7k | €2k | €4k | ▲ 104% |
| Tangible fixed assets22/27 | €2k | €715 | €0 | €3k | €2k | ▼ 34.0% |
| Plant, machinery and equipment23 | €2k | €715 | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | €3k | €2k | ▼ 34.0% |
| Current assets29/58 | €11k | €19k | €9k | €60k | €25k | ▼ 58.7% |
| Amounts receivable within one year40/41 | €667 | €6k | €2k | €17k | €20k | ▲ 15.7% |
| Trade receivables40 | €409 | €6k | €2k | €17k | €19k | ▲ 11.2% |
| Other amounts receivable41 | €257 | €0 | €99 | €0 | €768 | - |
| Cash at bank and in hand54/58 | €3k | €11k | €4k | €42k | €5k | ▼ 88.2% |
| Deferred charges and accrued income490/1 | €7k | €2k | €3k | €2k | €498 | ▼ 74.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €33k | €34k | €16k | €66k | €31k | ▼ 52.5% |
| Equity10/15 | €4k | €19k | €1k | €36k | €2k | ▼ 94.5% |
| Contributions10/11 | €30k | €30k | €30k | €30k | €2k | ▼ 93.3% |
| Profit (loss) carried forward14 | €-26k | €-11k | €-29k | €6k | €0 | ▼ 100% |
| Amounts payable17/49 | €29k | €15k | €15k | €29k | €29k | ▼ 0.8% |
| Amounts payable within one year42/48 | €29k | €15k | €15k | €29k | €29k | ▼ 0.8% |
| Trade debts44 | €2k | €1k | €2k | €7k | €17k | ▲ 130% |
| Suppliers440/4 | €2k | €1k | €2k | €7k | €17k | ▲ 130% |
| Advances received on contracts in progress46 | - | €238 | €0 | €777 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €1k | €0 | €8k | €4k | ▼ 52.8% |
| Taxes450/3 | - | €1k | €0 | €8k | €4k | ▼ 52.8% |
| Other amounts payable47/48 | €28k | €12k | €13k | €13k | €8k | ▼ 35.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-26k | €15k | €-17k | €35k | €8k | ▼ 76.1% |
| + Depreciation and write-downs630 | €8k | €8k | €7k | €6k | €4k | ▼ 31.1% |
| Operating cash flow (approximation) | €-18k | €22k | €-10k | €40k | €12k | ▼ 70.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-3k | €-5k | ▼ 46.3% |
| Change in cash | - | €8k | €-7k | €38k | €-37k | ▼ 197% |
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
24-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €35k
Net result €35k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 2.05
Current ratio from 0.59 to 2.05.
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €15k
Net result €15k after one loss-making year.
31-12
Financial
Liquidity triplescurrent ratio 1.29
Current ratio from 0.39 to 1.29; short-term debt falls from €29k to €15k.
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · 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, Sint-Jans-Molenbeek · 1 establishment unit since 2020
Ground area
692 m²
Building footprint
979 m²
Volume, LiDAR
10,603 m³
Parcel 21526D0002/00E002, Brussels · tallest building 31.1 m. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
GMSC
since 20202.305.538.461
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21526D0002/00E002 | Brussels | 692 m² | 1 · 979 m² | 31.1 m |
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 2,362 companies in sector 78100 we hold annual accounts for 1,363. 231 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
Founded19-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
78100Employment placement agencies
70200Business and other management consultancy
78200Temporary employment agencies and other provision of personnel
96999Other personal services
Contact
Scores and ratios are computed by Checked and are not a credit decision.