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GPLUS

Active
Private limited companyfounded 200026 years activeRue de Renory 111, 4031 Liège, BelgiumKBO/BCE: BE 0470.120.693
Summary

The computed 12-month bankruptcy probability of GPLUS is 1.9% (moderate). The 2025 annual accounts show equity of €40,319 and a net result of €21,423. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 18% of 15,602 sector peers (NACE 69, fiscal year 2025). The company has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals.

Financials · fiscal year 2025, micro schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€21,423▲ 363%
2024 · €4,629
Working capital
€28,689
2024 · -€10,170
Trend over the years

2021 to 2025, 5 fiscal years 2018 to 2025, 7 fiscal years

After the dip in 2022 the operating result has climbed three years in a row; 2025 is 238% above 2024 and is the highest result in the available series.

What the company sold each fiscal year and what was left of it. A loss stands below the zero line.

Operating result€46,822 2025 Net result€21,423 2025

Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the fiscal year before
favourable unfavourable
Line2018201920212022202320242025
Operating result-€12,023-€30,496€5,666-€570▼ 89.9%€3,418▲ 499%€13,873▲ 306%€46,822▲ 238%
Net result-€10,980-€27,887€5,829below the sector's middle half-€347below the sector's middle half▼ 94.0%€1,537below the sector's middle half▲ 343%€4,629below the sector's middle half▲ 201%€21,423within the sector's middle half▲ 363%
Equity€41,477-€54,363▲ 31.1%€62,383within the sector's middle half-€62,730within the sector's middle half▲ 0.6%€64,267within the sector's middle half▲ 2.5%€18,896below the sector's middle half▼ 70.6%€40,319within the sector's middle half▲ 113%
Total assets€62,363-€106,640▲ 71.0%€112,527within the sector's middle half-€114,202within the sector's middle half▲ 1.5%€187,213within the sector's middle half▲ 63.9%€168,532within the sector's middle half▼ 10.0%€241,477within the sector's middle half▲ 43.3%
Debt€20,886-€52,277▲ 150%€50,144-€51,472▲ 2.6%€122,946▲ 139%€149,636▲ 21.7%€201,159▲ 34.4%
Working capital€34,293-€48,049▲ 40.1%€54,435within the sector's middle half-€55,850within the sector's middle half▲ 2.6%€56,995within the sector's middle half▲ 2.1%-€10,170below the sector's middle half€28,689within the sector's middle half
Solvency66.5%-51.0%▼ 15.5pp55.4%within the sector's middle half-54.9%within the sector's middle half▼ 0.5pp34.3%within the sector's middle half▼ 20.6pp11.2%below the sector's middle half▼ 23.1pp16.7%below the sector's middle half▲ 5.5pp
Current ratio2.64-1.92▼ 0.722.93within the sector's middle half-2.52within the sector's middle half▼ 0.412.10within the sector's middle half▼ 0.420.89below the sector's middle half▼ 1.211.52within the sector's middle half▲ 0.64
Return on assets (ROA)-17.6%-26.2%▲ 43.8pp5.2%within the sector's middle half-0.3%below the sector's middle half▼ 4.9pp0.8%below the sector's middle half▲ 0.5pp2.7%below the sector's middle half▲ 1.9pp8.9%within the sector's middle half▲ 6.1pp
above within below the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €241,477
Fixed assets €157,914 ▲ 76.5%
Current assets €83,564 ▲ 5.7%
Equity and liabilities €241,477
Equity €40,319 ▲ 113%
Debt €201,159 ▲ 34.4%
Debt's share of the balance-sheet total falls from 88.8% to 83.3%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€71,007▲
2024 · €28,492
Cash flow
€45,608▲
2024 · €19,248
Debt to equity
4.99▼
2024 · 7.92
ROE
53.1%▲
2024 · 24.5%
Interest coverage
4.55▲
2024 · 2.98
Debt ≤ 1 year
€54,875▼
2024 · €89,231
Debt > 1 year
€146,284▲
2024 · €60,405
Income taxes
€9,800▲
2024 · €2,449
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 3,818 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 95% are still going.

  • Micro
  • 20 years or older
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more
1.0% went bankrupt
3.7% stopped otherwise
95% still going

A further 0.2% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 1.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,472 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 3,818 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet Code20242025
Assets
Total assets20/58€168,532€241,477▲
Fixed assets21/28€89,471€157,914▲
Intangible fixed assets21€21,479€51,130▲
Tangible fixed assets22/27€67,991€106,783▲
Land and buildings22€61,191€106,362▲
Plant, machinery and equipment23€934-
Furniture and vehicles24-€421
Leasing and similar rights25€5,866-
Current assets29/58€79,061€83,564▲
Amounts receivable after more than one year29€55,000€25,000▼
Other amounts receivable291€55,000€25,000▼
Amounts receivable within one year40/41€20,133€56,428▲
Trade receivables40€6,035€41,027▲
Other amounts receivable41€14,098€15,400▲
Cash at bank and in hand54/58€2,861-
Deferred charges and accrued income490/1€1,067€2,136▲
Equity and liabilities
Total equity and liabilities10/49€168,532€241,477▲
Equity10/15€18,896€40,319▲
Contributions10/11€6,450€6,450=
Reserves13€1,900€22,900▲
Distributable reserves133€1,900€22,900▲
Profit (loss) carried forward14€10,546€10,969▲
Amounts payable17/49€149,636€201,159▲
Amounts payable after more than one year17€60,405€146,284▲
Financial debts170/4€60,405€146,284▲
Amounts payable within one year42/48€89,231€54,875▼
Current portion of amounts payable after more than one year42€10,480€13,116▲
Financial debts43-€3,717
Credit institutions430/8-€3,717
Trade debts44€6,175€5,876▼
Suppliers440/4€6,175€5,876▼
Taxes, remuneration and social security45€18,976€31,572▲
Taxes450/3€18,976€31,572▲
Other amounts payable47/48€53,599€594▼
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14,620€24,185▲
Other operating charges640/8€1,962€1,732▼
Non-recurring operating charges66A€2,560€4,034▲
Gross operating margin9900€33,015€76,773▲
Operating profit (loss)9901€13,873€46,822▲
Financial income75/76B€2,750-
Recurring financial income75€2,750-
Financial charges65/66B€9,545€15,600▲
Recurring financial charges65€9,545€15,600▲
Profit (loss) for the period before taxes9903€7,077€31,223▲
Income taxes67/77€2,449€9,800▲
Profit (loss) for the period9904€4,629€21,423▲
Profit (loss) for the period to be appropriated9905€4,629€21,423▲
Appropriation of the result
Profit (loss) to be appropriated9906€60,546€31,969▼
Profit (loss) brought forward from the previous period14P€55,917€10,546▼
Transfer to equity691/2-€21,000
To other reserves6921-€21,000
Profit to be distributed694/7€50,000-
Return on contributions (dividend)694€50,000-

The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2018201920212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,423€2,815€11,436€8,354€8,386€14,620€24,185▲ 65.4%
Other operating charges640/8--€4,695€1,954€4,897€1,962€1,732▼ 11.7%
Non-recurring operating charges66A--€840€1,468€1,688€2,560€4,034▲ 57.6%
Gross operating margin9900-€1,156€38,620€22,637€12,347€18,389€33,015€76,773▲ 133%
Operating profit (loss)9901-€12,023€30,496€5,666€570€3,418€13,873€46,822▲ 238%
Financial income75/76B--€3,789€3,250€3,250€2,750--
Recurring financial income75€2,800€3,750€3,789€3,250€3,250€2,750--
Financial charges65/66B--€1,767€2,411€3,855€9,545€15,600▲ 63.4%
Recurring financial charges65€1,757€1,394€1,767€2,411€3,855€9,545€15,600▲ 63.4%
Profit (loss) for the period before taxes9903-€10,980€32,852€7,689€1,410€2,813€7,077€31,223▲ 341%
Income taxes67/77-€4,965€1,860€1,063€1,275€2,449€9,800▲ 300%
Profit (loss) for the period9904-€10,980€27,887€5,829€347€1,537€4,629€21,423▲ 363%
Profit (loss) for the period to be appropriated9905-€10,980€27,887€5,829€347€1,537€4,629€21,423▲ 363%
Line2018201920212022202320242025Change
Assets
Total assets20/58€62,363€106,640€112,527€114,202€187,213€168,532€241,477▲ 43.3%
Fixed assets21/28€7,184€6,314€29,911€21,557€78,170€89,471€157,914▲ 76.5%
Intangible fixed assets21€0€0---€21,479€51,130▲ 138%
Tangible fixed assets22/27€7,088€6,314€29,911€21,557€78,170€67,991€106,783▲ 57.1%
Land and buildings22----€64,448€61,191€106,362▲ 73.8%
Plant, machinery and equipment23--€515--€934--
Furniture and vehicles24------€421-
Leasing and similar rights25--€29,396€21,557€13,722€5,866--
Financial fixed assets28€96€0------
Current assets29/58€55,179€100,326€82,616€92,645€109,043€79,061€83,564▲ 5.7%
Amounts receivable after more than one year29--€65,000€65,000€55,000€55,000€25,000▼ 54.5%
Other amounts receivable291--€65,000€65,000€55,000€55,000€25,000▼ 54.5%
Amounts receivable within one year40/41€5,179€22,494€15,761€25,474€53,788€20,133€56,428▲ 180%
Trade receivables40--€7,442€9,892€43,271€6,035€41,027▲ 580%
Other amounts receivable41--€8,320€15,582€10,518€14,098€15,400▲ 9.2%
Cash at bank and in hand54/58-€2,831---€2,861--
Deferred charges and accrued income490/1--€1,854€2,171€255€1,067€2,136▲ 100%
Equity and liabilities
Total equity and liabilities10/49€62,363€106,640€112,527€114,202€187,213€168,532€241,477▲ 43.3%
Equity10/15€41,477€54,363€62,383€62,730€64,267€18,896€40,319▲ 113%
Contributions10/11€6,450€6,450€6,450€6,450€6,450€6,450€6,450=
Reserves13€1,900€1,900€1,900€1,900€1,900€1,900€22,900▲ 1,105%
Non-distributable reserves130/1--€1,900€1,900----
Reserves not available under the articles1311--€1,900€1,900----
Distributable reserves133----€1,900€1,900€22,900▲ 1,105%
Profit (loss) carried forward14€33,127€46,013€54,033€54,380€55,917€10,546€10,969▲ 4.0%
Amounts payable17/49€20,886€52,277€50,144€51,472€122,946€149,636€201,159▲ 34.4%
Amounts payable after more than one year17--€21,963€14,677€70,898€60,405€146,284▲ 142%
Financial debts170/4--€21,963€14,677€70,898€60,405€146,284▲ 142%
Amounts payable within one year42/48€20,886€52,277€28,181€36,796€52,048€89,231€54,875▼ 38.5%
Current portion of amounts payable after more than one year42--€7,141€7,286€10,527€10,480€13,116▲ 25.1%
Financial debts43--€9,583€9,470€7,704-€3,717-
Credit institutions430/8--€9,583€9,470€7,704-€3,717-
Trade debts44€6,655€12,090€2,329€5,891€9,230€6,175€5,876▼ 4.8%
Suppliers440/4--€2,329€5,891€9,230€6,175€5,876▼ 4.8%
Taxes, remuneration and social security45--€9,127€14,148€24,586€18,976€31,572▲ 66.4%
Taxes450/3--€9,127€14,148€24,586€18,976€31,572▲ 66.4%
Other amounts payable47/48-----€53,599€594▼ 98.9%
Line2018201920212022202320242025Change
Profit (loss) for the period9904-€10,980€27,887€5,829€347€1,537€4,629€21,423▲ 363%
+ Depreciation and write-downs630€2,423€2,815€11,436€8,354€8,386€14,620€24,185▲ 65.4%
Operating cash flow (approximation)-€8,557€30,701€17,265€8,701€9,924€19,248€45,608▲ 137%
Investment in fixed assets (approximation)--€1,945-€0-€64,999-€25,920-€92,628▼ 257%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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