GOETHALS
ActiveSummary
GOETHALS has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €596k and a net result of €47k. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 75% of 36375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability76▼-2
Solvency94▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity ample (current ratio 2.29 against 2.1 in 2023; short-term debt: 21.8% and cash: 29.9% of total assets), and 30.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
69.2%
Return on assets
5.5%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-06-2025, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
38 d early
2023
34 d early
2022
34 d early
2021
37 d early
2020
32 d early
2019
32 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€596k▲ 8.7%
2023 · €548k
2018: €272klowest in 7 years
2019: €291k▲ +6.8% vs 2018
2020: €367k▲ +26.0% vs 2019
2021: €431k▲ +17.6% vs 2020
2022: €487k▲ +13.0% vs 2021
2023: €548k▲ +12.6% vs 2022
2024: €596k▲ +8.7% vs 2023highest in 7 years
2018 → 2024
Total assets
€861k▲ 4.7%
2023 · €822k
2018: €628k
2019: €616k▼ -1.8% vs 2018lowest in 7 years
2020: €763k▲ +23.9% vs 2019
2021: €900k▲ +18.0% vs 2020
2022: €919k▲ +2.1% vs 2021highest in 7 years
2023: €822k▼ -10.5% vs 2022
2024: €861k▲ +4.7% vs 2023
2018 → 2024
Net result
€47k▼ 22.6%
2023 · €61k
2018: €19klowest in 7 years
2019: €19k▲ +3.9% vs 2018
2020: €76k▲ +293% vs 2019highest in 7 years
2021: €64k▼ -14.9% vs 2020
2022: €56k▼ -13.1% vs 2021
2023: €61k▲ +9.5% vs 2022
2024: €47k▼ -22.6% vs 2023
2018 → 2024
Working capital
€241k▲ 24.3%
2023 · €194k
2018: €209k
2019: €222k▲ +6.0% vs 2018
2020: €-30k▼ -114% vs 2019lowest in 7 years
2021: €-13k▲ +56.8% vs 2020
2022: €59k▲ +551% vs 2021
2023: €194k▲ +229% vs 2022
2024: €241k▲ +24.3% vs 2023highest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€367k-€431k▲ 17.6%€487k▲ 13.0%€548k▲ 12.6%€596k▲ 8.7%
2020: €367klowest in 5 years
2021: €431k▲ +17.6% vs 2020
2022: €487k▲ +13.0% vs 2021
2023: €548k▲ +12.6% vs 2022
2024: €596k▲ +8.7% vs 2023highest in 5 years
Operating result€98k-€108k▲ 9.8%€83k▼ 23.1%€95k▲ 14.4%€69k▼ 27.3%
2020: €98k
2021: €108k▲ +9.8% vs 2020highest in 5 years
2022: €83k▼ -23.1% vs 2021
2023: €95k▲ +14.4% vs 2022
2024: €69k▼ -27.3% vs 2023lowest in 5 years
Net result€76k-€64k▼ 14.9%€56k▼ 13.1%€61k▲ 9.5%€47k▼ 22.6%
2020: €76khighest in 5 years
2021: €64k▼ -14.9% vs 2020
2022: €56k▼ -13.1% vs 2021
2023: €61k▲ +9.5% vs 2022
2024: €47k▼ -22.6% vs 2023lowest 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 falls in 2024; 2024 is 27% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €861k
Fixed assets
€432k ▼ 4.5%
Current assets
€429k ▲ 15.9%
Equity and liabilities €861k
Equity
€596k ▲ 8.7%
Debt
€265k ▼ 3.3%
Debt's share of the balance-sheet total falls from 33.3% to 30.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€89k▼
2023 · €114k
Cash flow
€68k▼
2023 · €80k
Current ratio
2.29▲
2023 · 2.10
Quick ratio
1.44▼
2023 · 2.10
Debt to equity
0.44▼
2023 · 0.50
ROE
8.0%▼
2023 · 11.2%
ROA
5.5%▼
2023 · 7.5%
Interest coverage
20.67▲
2023 · 11.31
Debt ≤ 1 year
€188k▲
2023 · €176k
Debt > 1 year
€77k▼
2023 · €98k
Income taxes
€19k▼
2023 · €25k
Staff costs
€2k▼
2023 · €118k
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 · 2024 against 2023 · 49 lines
Balance sheet
Code20232024
Assets
Total assets20/58€822k€861k▲
Fixed assets21/28€452k€432k▼
Tangible fixed assets22/27€451k€430k▼
Land and buildings22€426k€411k▼
Plant, machinery and equipment23€12k€9k▼
Furniture and vehicles24€13k€10k▼
Financial fixed assets28€1k€1k=
Current assets29/58€370k€429k▲
Stocks and contracts in progress3€0€158k▲
Stocks30/36€0€158k▲
Amounts receivable within one year40/41€20k€12k▼
Trade receivables40€6k€5k▼
Other amounts receivable41€14k€8k▼
Cash at bank and in hand54/58€350k€257k▼
Deferred charges and accrued income490/1€0€1k▲
Equity and liabilities
Total equity and liabilities10/49€822k€861k▲
Equity10/15€548k€596k▲
Contributions10/11€19k€19k=
Reserves13€529k€577k▲
Distributable reserves133€529k€577k▲
Amounts payable17/49€274k€265k▼
Amounts payable after more than one year17€98k€77k▼
Financial debts170/4€98k€77k▼
Amounts payable within one year42/48€176k€188k▲
Current portion of amounts payable after more than one year42€21k€21k▼
Trade debts44€11k€29k▲
Suppliers440/4€11k€29k▲
Taxes, remuneration and social security45€9k€3k▼
Taxes450/3€8k€3k▼
Remuneration and social security454/9€2k€0▼
Other amounts payable47/48€134k€135k▲
Income statement
Code20232024
Non-recurring operating income76A€3k€0▼
Remuneration, social security and pensions62€118k€2k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€21k▲
Other operating charges640/8€4k€3k▼
Non-recurring operating charges66A€8k€0▼
Gross operating margin9900€243k€94k▼
Operating profit (loss)9901€95k€69k▼
Financial income75/76B€2k€2k▲
Recurring financial income75€2k€2k▲
Financial charges65/66B€10k€4k▼
Recurring financial charges65€10k€4k▼
Profit (loss) for the period before taxes9903€86k€67k▼
Income taxes67/77€25k€19k▼
Profit (loss) for the period9904€61k€47k▼
Profit (loss) for the period to be appropriated9905€61k€47k▼
Appropriation of the result
Profit (loss) to be appropriated9906€61k€47k▼
Transfer to equity691/2€61k€47k▼
To other reserves6921€61k€47k▼
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | €413 | €3k | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €214k | €221k | €118k | €2k | ▼ 98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €22k | €40k | €19k | €21k | ▲ 7.1% |
| Other operating charges640/8 | - | €4k | €3k | €4k | €3k | ▼ 24.3% |
| Non-recurring operating charges66A | - | €19k | €0 | €8k | €0 | ▼ 100% |
| Gross operating margin9900 | €316k | €368k | €346k | €243k | €94k | ▼ 61.3% |
| Operating profit (loss)9901 | €98k | €108k | €83k | €95k | €69k | ▼ 27.3% |
| Financial income75/76B | - | €524 | €2k | €2k | €2k | ▲ 42.9% |
| Recurring financial income75 | €4k | €524 | €2k | €2k | €2k | ▲ 42.9% |
| Financial charges65/66B | - | €12k | €5k | €10k | €4k | ▼ 57.0% |
| Recurring financial charges65 | €16k | €12k | €5k | €10k | €4k | ▼ 57.0% |
| Profit (loss) for the period before taxes9903 | €86k | €96k | €79k | €86k | €67k | ▼ 22.5% |
| Income taxes67/77 | €10k | €31k | €23k | €25k | €19k | ▼ 22.4% |
| Profit (loss) for the period9904 | €76k | €64k | €56k | €61k | €47k | ▼ 22.6% |
| Profit (loss) for the period to be appropriated9905 | €76k | €64k | €56k | €61k | €47k | ▼ 22.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €763k | €900k | €919k | €822k | €861k | ▲ 4.7% |
| Fixed assets21/28 | €535k | €566k | €547k | €452k | €432k | ▼ 4.5% |
| Tangible fixed assets22/27 | €534k | €565k | €546k | €451k | €430k | ▼ 4.5% |
| Land and buildings22 | - | €452k | €440k | €426k | €411k | ▼ 3.3% |
| Plant, machinery and equipment23 | - | €0 | €1k | €12k | €9k | ▼ 22.7% |
| Furniture and vehicles24 | - | €113k | €105k | €13k | €10k | ▼ 26.8% |
| Financial fixed assets28 | €1k | €1k | €1k | €1k | €1k | = |
| Current assets29/58 | €228k | €335k | €372k | €370k | €429k | ▲ 15.9% |
| Stocks and contracts in progress3 | - | €162k | €218k | €0 | €158k | - |
| Stocks30/36 | - | €162k | €218k | €0 | €158k | - |
| Amounts receivable within one year40/41 | €40k | €17k | €10k | €20k | €12k | ▼ 36.8% |
| Trade receivables40 | - | €2k | €738 | €6k | €5k | ▼ 25.0% |
| Other amounts receivable41 | - | €15k | €9k | €14k | €8k | ▼ 42.2% |
| Cash at bank and in hand54/58 | €184k | €152k | €141k | €350k | €257k | ▼ 26.6% |
| Deferred charges and accrued income490/1 | - | €3k | €4k | €0 | €1k | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €763k | €900k | €919k | €822k | €861k | ▲ 4.7% |
| Equity10/15 | €367k | €431k | €487k | €548k | €596k | ▲ 8.7% |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €348k | €412k | €468k | €529k | €577k | ▲ 9.0% |
| Non-distributable reserves130/1 | - | €2k | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €0 | - | - | - |
| Distributable reserves133 | - | €410k | €468k | €529k | €577k | ▲ 9.0% |
| Amounts payable17/49 | €397k | €469k | €432k | €274k | €265k | ▼ 3.3% |
| Amounts payable after more than one year17 | €138k | €122k | €119k | €98k | €77k | ▼ 21.2% |
| Financial debts170/4 | - | €122k | €119k | €98k | €77k | ▼ 21.2% |
| Amounts payable within one year42/48 | €258k | €348k | €313k | €176k | €188k | ▲ 6.6% |
| Current portion of amounts payable after more than one year42 | - | €41k | €21k | €21k | €21k | ▼ 1.3% |
| Trade debts44 | €35k | €32k | €44k | €11k | €29k | ▲ 158% |
| Suppliers440/4 | - | €32k | €44k | €11k | €29k | ▲ 158% |
| Advances received on contracts in progress46 | - | €7k | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | €31k | €14k | €9k | €3k | ▼ 69.2% |
| Taxes450/3 | - | €28k | €11k | €8k | €3k | ▼ 62.0% |
| Remuneration and social security454/9 | - | €3k | €3k | €2k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €236k | €233k | €134k | €135k | ▲ 0.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €76k | €64k | €56k | €61k | €47k | ▼ 22.6% |
| + Depreciation and write-downs630 | €11k | €22k | €40k | €19k | €21k | ▲ 7.1% |
| Operating cash flow (approximation) | €87k | €87k | €96k | €80k | €68k | ▼ 15.5% |
| Investment in fixed assets (approximation) | - | €-53k | €-21k | €76k | €0 | ▼ 100% |
| Change in cash | - | €-31k | €-12k | €210k | €-93k | ▼ 144% |
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
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €500kEq €548k ▲12.6%
6 profitable years in a row build equity to €548k.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €76k ▲293%
Net result €76k, the highest in the series.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
28-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
5 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, Waregem · 1 establishment unit since 2002
Ground area
191 m²
Parcel 34035A0356/00X004, Flanders. Linked by address, not a title deed.
1 establishment unit
Spinnerijstraat 47D, 8793 Waregem
since 20022.131.949.043
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34035A0356/00X004 | Flanders | 191 m² | - | - |
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.
Similar companies · same sector, comparable size
ETABLISSEMENTS FONTAINE YVAN
BE 0449.351.015
Nivelles · Eq €596,658
SERINCHAMPS
BE 0441.915.964
Elsene · Eq €600,163
MAHDANI
BE 0444.695.312
Tournai · Eq €600,656
MAGNABOSCO PEINTURES ET DECORATION
BE 0450.819.079
Chaudfontaine · Eq €601,185
Tunet
BE 0834.685.493
Maldegem · Eq €589,932
Of 7,863 companies in sector 43341 we hold annual accounts for 2,663. 1,353 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
Founded26-02-2001
Fiscal year end31-12
Activities, NACEBEL 2025
43341Painting of buildings
43230Insulation installation
81220Other building cleaning and industrial cleaning
Scores and ratios are computed by Checked and are not a credit decision.