GORDON PROJECTS
ActiveSummary
The computed 12-month bankruptcy probability of GORDON PROJECTS is 3.1% (moderate). The 2025 annual accounts show negative equity (€-61k) and a net result of €-7k. Equity is shrinking by ~9.8% per year across the filed fiscal years. The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability15=
Solvency0▼-9
Growth58=
Track record100
Bankruptcy probability, 12 months
3.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.78 against 0.86 in 2024; short-term debt: 128.2% and cash: 78.8% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-28.2%
Return on assets
-3.2%
Age of the figures
12 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
18192021222425
2018 to 2025 · latest year €-61k
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-05-2026, 27 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 · 8 filingsDeviation from the deadline
2025
27 d late
2024
16 d late
2022
30 d late
2021
1 d early
2020
31 d late
2019
on the day
2018
on the day
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-61k▼ 12.8%
2024 · €-54k
2018: €-28k
2019: €-48k▼ -72.9% vs 2018
2020: €-27k▲ +44.2% vs 2019
2021: €-9k▲ +67.6% vs 2020highest value
2022: €-106k▼ -1124% vs 2021lowest value
2024: €-54k
2025: €-61k▼ -12.8% vs 2024
2018 → 2025
Total assets
€215k▼ 37.0%
2024 · €342k
2018: €716khighest value
2019: €716k● -0.0% vs 2018
2020: €375k▼ -47.6% vs 2019
2021: €461k▲ +22.8% vs 2020
2022: €348k▼ -24.5% vs 2021
2024: €342k
2025: €215k▼ -37.0% vs 2024lowest value
2018 → 2025
Net result
€-7k▲ 30.7%
2024 · €-10k
2018: €-12k
2019: €-20k▼ -69.1% vs 2018
2020: €21k▲ +205% vs 2019highest value
2021: €18k▼ -14.6% vs 2020
2022: €-98k▼ -639% vs 2021lowest value
2024: €-10k
2025: €-7k▲ +30.7% vs 2024
2018 → 2025
Working capital
€-61k▼ 12.0%
2024 · €-55k
2018: €265k
2019: €444k▲ +67.9% vs 2018highest value
2020: €173k▼ -61.0% vs 2019
2021: €149k▼ -14.1% vs 2020
2022: €-110k▼ -174% vs 2021lowest value
2024: €-55k
2025: €-61k▼ -12.0% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220242025Trend
Equity€-27k-€-9k▲ 67.6%€-106k▼ 1,124%€-54k▲ 49.4%€-61k▼ 12.8%
2020: €-27k
2021: €-9k▲ +67.6% vs 2020highest value
2022: €-106k▼ -1124% vs 2021lowest value
2024: €-54k
2025: €-61k▼ -12.8% vs 2024
Operating result€2k-€21k▲ 972%€-78k€-7k▲ 91.6%€-7k▼ 3.6%
2020: €2k
2021: €21k▲ +972% vs 2020highest value
2022: €-78k▼ -465% vs 2021lowest value
2024: €-7k
2025: €-7k▼ -3.6% vs 2024
Net result€21k-€18k▼ 14.6%€-98k€-10k▲ 89.8%€-7k▲ 30.7%
2020: €21khighest value
2021: €18k▼ -14.6% vs 2020
2022: €-98k▼ -639% vs 2021lowest value
2024: €-10k
2025: €-7k▲ +30.7% 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 stays negative: a loss of €7k in 2025 against €7k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €215k
Fixed assets
€500 ▼ 59.5%
Current assets
€215k ▼ 37.0%
Key figures and ratios
EBITDA
€-6k▼
2024 · €-5k
Cash flow
€-6k▲
2024 · €-9k
Solvency
-28.2%▼
2024 · -15.7%
Current ratio
0.78▼
2024 · 0.86
Debt to equity
-4.54▲
2024 · -7.35
ROA
-3.2%▼
2024 · -2.9%
Interest coverage
-61.90▼
2024 · -1.61
Debt
€276k▼
2024 · €395k
Debt ≤ 1 year
€276k▼
2024 · €395k
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 · 30 lines
Balance sheet
Code20242025
Assets
Total assets20/58€342k€215k▼
Fixed assets21/28€1k€500▼
Tangible fixed assets22/27€736-
Furniture and vehicles24€736-
Financial fixed assets28€500€500=
Current assets29/58€340k€215k▼
Amounts receivable within one year40/41€45k€45k=
Trade receivables40€45k€45k=
Cash at bank and in hand54/58€295k€170k▼
Equity and liabilities
Total equity and liabilities10/49€342k€215k▼
Equity10/15€-54k€-61k▼
Contributions10/11€50k€50k=
Profit (loss) carried forward14€-104k€-111k▼
Amounts payable17/49€395k€276k▼
Amounts payable within one year42/48€395k€276k▼
Trade debts44€24k€25k▲
Suppliers440/4€24k€25k▲
Other amounts payable47/48€371k€251k▼
Accrued charges and deferred income492/3€387-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€736▼
Other operating charges640/8€690€312▼
Gross operating margin9900€-5k€-6k▼
Operating profit (loss)9901€-7k€-7k▼
Financial charges65/66B€3k€98▼
Recurring financial charges65€3k€98▼
Profit (loss) for the period before taxes9903€-10k€-7k▲
Profit (loss) for the period9904€-10k€-7k▲
Profit (loss) for the period to be appropriated9905€-10k€-7k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-104k€-111k▼
Profit (loss) brought forward from the previous period14P€-94k€-104k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €368 | €1k | €736 | ▼ 33.3% |
| Other operating charges640/8 | - | €146k | €11k | €690 | €312 | ▼ 54.7% |
| Gross operating margin9900 | €5k | €167k | €-67k | €-5k | €-6k | ▼ 20.6% |
| Operating profit (loss)9901 | €2k | €21k | €-78k | €-7k | €-7k | ▼ 3.6% |
| Financial income75/76B | - | €21k | €22k | - | - | - |
| Recurring financial income75 | - | €13 | €1 | - | - | - |
| Non-recurring financial income76B | - | €21k | €22k | - | - | - |
| Financial charges65/66B | - | €25k | €41k | €3k | €98 | ▼ 97.1% |
| Recurring financial charges65 | €16k | €25k | €41k | €3k | €98 | ▼ 97.1% |
| Profit (loss) for the period before taxes9903 | €21k | €18k | €-98k | €-10k | €-7k | ▲ 30.7% |
| Profit (loss) for the period9904 | €21k | €18k | €-98k | €-10k | €-7k | ▲ 30.7% |
| Profit (loss) for the period to be appropriated9905 | €21k | €18k | €-98k | €-10k | €-7k | ▲ 30.7% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €375k | €461k | €348k | €342k | €215k | ▼ 37.0% |
| Fixed assets21/28 | - | €500 | €3k | €1k | €500 | ▼ 59.5% |
| Tangible fixed assets22/27 | - | - | €3k | €736 | - | - |
| Furniture and vehicles24 | - | - | €3k | €736 | - | - |
| Financial fixed assets28 | - | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €375k | €460k | €345k | €340k | €215k | ▼ 37.0% |
| Stocks and contracts in progress3 | €274k | €299k | €299k | - | - | - |
| Stocks30/36 | - | €299k | €299k | - | - | - |
| Amounts receivable within one year40/41 | €66k | - | €45k | €45k | €45k | = |
| Trade receivables40 | - | - | €45k | €45k | €45k | = |
| Cash at bank and in hand54/58 | €35k | €161k | €311 | €295k | €170k | ▼ 42.6% |
| Deferred charges and accrued income490/1 | - | - | €207 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €375k | €461k | €348k | €342k | €215k | ▼ 37.0% |
| Equity10/15 | €-27k | €-9k | €-106k | €-54k | €-61k | ▼ 12.8% |
| Contributions10/11 | €50k | €50k | €50k | €50k | €50k | = |
| Profit (loss) carried forward14 | €-77k | €-59k | €-156k | €-104k | €-111k | ▼ 6.7% |
| Amounts payable17/49 | €402k | €470k | €455k | €395k | €276k | ▼ 30.2% |
| Amounts payable after more than one year17 | €200k | €158k | - | - | - | - |
| Financial debts170/4 | - | €158k | - | - | - | - |
| Amounts payable within one year42/48 | €202k | €312k | €455k | €395k | €276k | ▼ 30.2% |
| Current portion of amounts payable after more than one year42 | - | €80k | €56k | - | - | - |
| Trade debts44 | €10k | €54k | €29k | €24k | €25k | ▲ 2.7% |
| Suppliers440/4 | - | €54k | €29k | €24k | €25k | ▲ 2.7% |
| Other amounts payable47/48 | - | €177k | €369k | €371k | €251k | ▼ 32.3% |
| Accrued charges and deferred income492/3 | - | - | - | €387 | - | - |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21k | €18k | €-98k | €-10k | €-7k | ▲ 30.7% |
| + Depreciation and write-downs630 | - | - | €368 | €1k | €736 | ▼ 33.3% |
| Operating cash flow (approximation) | €21k | €18k | €-97k | €-9k | €-6k | ▲ 30.4% |
| Investment in fixed assets (approximation) | - | - | €-3k | - | €0 | - |
| Change in cash | - | €127k | €-161k | - | €-126k | - |
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
27-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 16 days late
2023
30-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
30-09
Financial
Weakest financial yearnet €-98k
Net result drops to €-98k, the lowest in the series; recovery starts the following year.
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
30-09
Financial
Back to profitnet €21k
Net result €21k after 2 loss-making years.
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Brussel
Ground area
1,228 m²
Building footprint
529 m²
Volume, LiDAR
8,602 m³
Parcel 21807G0218/00E016, Brussels · tallest building 24.9 m, ±7 floors. Linked by address, not a title deed.
94
companies at this address
See who is registered here
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0218/00E016 | Brussels | 1,228 m² | 1 · 529 m² | 24.9 m · 7 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.
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded11-07-2016
Fiscal year end30-09
Scores and ratios are computed by Checked and are not a credit decision.