GORWELL ENGINEERING
ActiveSummary
GORWELL ENGINEERING has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €574,056 and a net result of €94,636. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 85% of 17090 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▼-2
Solvency100=
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 7.98 against 7.13 in 2024; short-term debt: 11.7% and cash: 74.4% of total assets), and 11.7% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer 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 2025Solvency, return and age of the figures
Solvency
88.3%
Return on assets
14.6%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €574,056
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
15 d early
2023
51 d early
2022
56 d early
2021
53 d early
2020
51 d early
2019
29 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#2 oldest company in Keerbergen, Telecoms and IT sector
Equity
€574,056▲ 19.7%
2024 · €479,420
Total assets
€649,985▲ 18.2%
2024 · €549,801
Net result
€94,636▲ 6.9%
2024 · €88,559
Working capital
€529,729▲ 22.8%
2024 · €431,415
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€54,454▲ 73.9%€1,112▼ 98.0%€76,219▲ 6,753%€123,407▲ 61.9%€132,369▲ 7.3%
Net result€36,402▲ 97.4%€2,407▼ 93.4%€52,829▲ 2,095%€88,559▲ 67.6%€94,636▲ 6.9%
Equity€606,025▲ 6.4%€608,432▲ 0.4%€390,861▼ 35.8%€479,420▲ 22.7%€574,056▲ 19.7%
Total assets€645,537▲ 3.4%€662,311▲ 2.6%€452,304▼ 31.7%€549,801▲ 21.6%€649,985▲ 18.2%
Debt€39,511▼ 28.0%€53,879▲ 36.4%€61,443▲ 14.0%€70,381▲ 14.5%€75,929▲ 7.9%
Working capital€516,261▲ 9.7%€537,675▲ 4.1%€339,256▼ 36.9%€431,415▲ 27.2%€529,729▲ 22.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 7% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €649,985
Fixed assets
€44,327 ▼ 7.7%
Current assets
€605,658 ▲ 20.7%
Equity and liabilities €649,985
Equity
€574,056 ▲ 19.7%
Debt
€75,929 ▲ 7.9%
Debt's share of the balance-sheet total falls from 12.8% to 11.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€136,046▲
2024 · €127,288
Cash flow
€98,314▲
2024 · €92,440
Current ratio
7.98▲
2024 · 7.13
Quick ratio
7.68▲
2024 · 6.77
Debt to equity
0.13▼
2024 · 0.15
ROE
16.5%▼
2024 · 18.5%
ROA
14.6%▼
2024 · 16.1%
Interest coverage
161.68▼
2024 · 463.20
Debt ≤ 1 year
€75,929▲
2024 · €70,381
Income taxes
€37,629▲
2024 · €35,308
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €5,269 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,506 | €19,715 | €19,421 | €3,881 | €3,678 | ▼ 5.2% |
| Other operating charges640/8 | €1,041 | €1,284 | €1,165 | €1,197 | €1,234 | ▲ 3.1% |
| Gross operating margin9900 | €75,000 | €22,111 | €96,804 | €128,485 | €137,281 | ▲ 6.8% |
| Operating profit (loss)9901 | €54,454 | €1,112 | €76,219 | €123,407 | €132,369 | ▲ 7.3% |
| Financial income75/76B | - | €5,648 | €505 | €735 | €738 | ▲ 0.5% |
| Recurring financial income75 | - | €5,648 | €505 | €735 | €738 | ▲ 0.5% |
| Financial charges65/66B | €2,037 | €920 | €1,410 | €275 | €841 | ▲ 206% |
| Recurring financial charges65 | €2,037 | €920 | €1,410 | €275 | €841 | ▲ 206% |
| Profit (loss) for the period before taxes9903 | €52,417 | €5,841 | €75,314 | €123,866 | €132,265 | ▲ 6.8% |
| Income taxes67/77 | €16,015 | €3,434 | €22,486 | €35,308 | €37,629 | ▲ 6.6% |
| Profit (loss) for the period9904 | €36,402 | €2,407 | €52,829 | €88,559 | €94,636 | ▲ 6.9% |
| Profit (loss) for the period to be appropriated9905 | €36,402 | €2,407 | €52,829 | €88,559 | €94,636 | ▲ 6.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €645,537 | €662,311 | €452,304 | €549,801 | €649,985 | ▲ 18.2% |
| Fixed assets21/28 | €89,765 | €71,026 | €51,605 | €48,005 | €44,327 | ▼ 7.7% |
| Tangible fixed assets22/27 | €89,765 | €71,026 | €51,605 | €48,005 | €44,327 | ▼ 7.7% |
| Land and buildings22 | €57,524 | €54,200 | €50,875 | €47,551 | €44,227 | ▼ 7.0% |
| Plant, machinery and equipment23 | €915 | €1,441 | €730 | €453 | €100 | ▼ 78.0% |
| Furniture and vehicles24 | €31,326 | €15,385 | €0 | - | - | - |
| Current assets29/58 | €555,772 | €591,286 | €400,699 | €501,796 | €605,658 | ▲ 20.7% |
| Stocks and contracts in progress3 | €20,843 | €17,120 | €28,714 | €25,393 | €22,591 | ▼ 11.0% |
| Stocks30/36 | €20,843 | €17,120 | €28,714 | €25,393 | €22,591 | ▼ 11.0% |
| Amounts receivable within one year40/41 | €13,575 | €17,283 | €25,322 | €18,234 | €32,278 | ▲ 77.0% |
| Trade receivables40 | €13,575 | €15,982 | €25,322 | €4,966 | €18,310 | ▲ 269% |
| Other amounts receivable41 | - | €1,301 | €0 | €13,268 | €13,968 | ▲ 5.3% |
| Current investments50/53 | €70,698 | €64,000 | €64,000 | €64,000 | €64,000 | = |
| Cash at bank and in hand54/58 | €445,043 | €487,298 | €278,822 | €390,260 | €483,808 | ▲ 24.0% |
| Deferred charges and accrued income490/1 | €5,613 | €5,585 | €3,841 | €3,908 | €2,981 | ▼ 23.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €645,537 | €662,311 | €452,304 | €549,801 | €649,985 | ▲ 18.2% |
| Equity10/15 | €606,025 | €608,432 | €390,861 | €479,420 | €574,056 | ▲ 19.7% |
| Contributions10/11 | €289,000 | €289,000 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €317,025 | €319,432 | €372,261 | €460,820 | €555,456 | ▲ 20.5% |
| Non-distributable reserves130/1 | €13,422 | - | - | - | - | - |
| Reserves not available under the articles1311 | €13,422 | - | - | - | - | - |
| Distributable reserves133 | €303,603 | €319,432 | €372,261 | €460,820 | €555,456 | ▲ 20.5% |
| Amounts payable17/49 | €39,511 | €53,879 | €61,443 | €70,381 | €75,929 | ▲ 7.9% |
| Amounts payable within one year42/48 | €39,511 | €53,611 | €61,443 | €70,381 | €75,929 | ▲ 7.9% |
| Current portion of amounts payable after more than one year42 | €1,720 | - | - | - | - | - |
| Trade debts44 | €11,549 | €16,446 | €9,085 | €8,678 | €6,364 | ▼ 26.7% |
| Suppliers440/4 | €11,549 | €16,446 | €9,085 | €8,678 | €6,364 | ▼ 26.7% |
| Advances received on contracts in progress46 | - | - | - | - | €514 | - |
| Taxes, remuneration and social security45 | €17,381 | €15,058 | €16,900 | €16,960 | €19,271 | ▲ 13.6% |
| Taxes450/3 | €15,581 | €11,122 | €14,686 | €14,797 | €17,108 | ▲ 15.6% |
| Remuneration and social security454/9 | €1,800 | €3,936 | €2,214 | €2,163 | €2,163 | = |
| Other amounts payable47/48 | €8,861 | €22,106 | €35,458 | €44,743 | €49,780 | ▲ 11.3% |
| Accrued charges and deferred income492/3 | - | €268 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36,402 | €2,407 | €52,829 | €88,559 | €94,636 | ▲ 6.9% |
| + Depreciation and write-downs630 | €19,506 | €19,715 | €19,421 | €3,881 | €3,678 | ▼ 5.2% |
| Operating cash flow (approximation) | €55,908 | €22,122 | €72,249 | €92,440 | €98,314 | ▲ 6.4% |
| Investment in fixed assets (approximation) | - | -€976 | €0 | -€281 | €0 | ▲ 100% |
| Change in cash | - | €42,255 | -€208,476 | €111,438 | €93,548 | ▼ 16.1% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €94,636 ▲6.9%
Operating result €132,369, net result €94,636, both a record.
31-12
Financial
Equity above €500,000Eq €574,056 ▲19.7%
8 profitable years in a row build equity to €574,056.
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
10-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €2,407 ▼93.4%
Net result drops to €2,407, the lowest in the series; recovery starts the following year.
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
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, Keerbergen · 1 establishment unit since 2002
Ground area
1,485 m²
Building footprint
191 m²
Volume, LiDAR
1,330 m³
Parcel 24472F0267/00R000, Flanders · tallest building 10.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
GORWELL ENGINEERING
since 20022.076.313.308
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24472F0267/00R000 | Flanders | 1,485 m² | 1 · 191 m² | 10.2 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.
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Of 3,211 companies in sector 62900 we hold annual accounts for 1,742. 1,050 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
Founded07-03-1996
Fiscal year end31-12
Activities, NACEBEL 2025
62900Other information technology and computer services
Scores and ratios are computed by Checked and are not a credit decision.