GSA CONSTRUCT
Open bankruptcyFrom the official registers: KBO 5 annual accounts at the National Bank publications in the Belgian Official Gazette
Overview
Information for creditors
Open bankruptcy
Source: Belgian Official Gazette
Declared bankrupt on 30 June 2025 · trustee Philippe-Robert Schreder · a claim can no longer be filed
View the file in RegSol ↗The procedure
- Court
- Enterprise Court of Hainaut, Charleroi division
- Supervising judge
- Nathalie Briquet
- Official Gazette
- 04-07-2025 (pdf) ↗search the document for 2025/129656
Deadlines
- Provisional date payments stopped
- 30 June 2025A later judgment can still change the date.art. XX.105, Code of Economic Law
- Appeal or third-party opposition until
- passed on 19 July 2025That is fifteen days after the publication in the Official Gazette.art. XX.108, Code of Economic Law
- File the claim in RegSol, the Belgian insolvency register, until
- passed on 30 July 2025art. XX.104 and XX.155, Code of Economic Law
- First verification report
- passed on 27 August 2025Reclaim goods that are still yours, such as goods delivered under retention of title, before this day.art. XX.104 and XX.194, Code of Economic Law
- Late claim until
- passed on 30 June 2026A late claim shares only in what has not yet been paid out. You bear the costs of that claim.art. XX.165, Code of Economic Law
Trustee
- Philippe-Robert SchrederChaussee De Montigny, 89/A, 6060 Gilly (Charleroi)pr.schreder@avocat.be
Steps for a creditor
- The deadlines to file your claim have passed, including for a late claim. That was possible until a year after the judgment.
- Ask the trustee whether anything will still be paid out and whether your claim was admitted.
- Follow the file in RegSol. The trustee's reports appear there.
- Ask your accountant about the VAT on the unpaid invoices. In a bankruptcy it can be recovered, subject to conditions.
A late claim was possible until a year after the judgment (art. XX.165, Code of Economic Law). That deadline has passed too.
The judgment is more than a year old. A claim can no longer be filed, not even late. The trustee knows whether anything will still be paid out.
Follow
Follow this bankruptcy and you are notified the next morning if it is closed or reversed.
This is general information, not legal advice. If in doubt, the trustee, your lawyer or your accountant can help.Creditor guide for this company
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Overview
Official details
KBO- Status
- Open bankruptcy registered since 23-05-2019
- Activity
- General construction of residential buildings NACE 41001
- Establishment unit
- 2.289.696.777 6200 Châtelet, since 05-06-2019
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Financial position
No score
Annual accounts 2023
- Gross margin
- €682,078
- ▲ 58.8%
- Turnover
- ≈ €1.5m
- estimated
- Profit
- €41,008
- ▲ 21.9%
- Equity
- €89,422
- ▲ 84.7%
- Total assets
- €774,360
- ▲ 88.4%
- Staff
- 12.6 FTE
- ▲ 41.6%
Filed on 30-08-2024PDF
Financials
Financials · financial year 2023, full format
2023 annual accounts filed 30 days after the deadline Filed on 30 August 2024, deadline 31 July 2024 (7 months after the close on 31 December 2023, Companies Code art. 3:10). Source: NBB, 2024-00417885.
Annual accounts 2023 filed on 30-08-2024 PDF all 5 filings
Turnover
≈ €1.5m
Estimated: probably between €1.2m and €2.2m
EBIT margin
Not included in this filing
Net result
€41,008▲ 21.9%
2022 · €33,642
Working capital
€191,199▲ 213%
2022 · €61,086
Trend over the years
2019 to 2023, 5 financial years
The operating result for 2023 is 59% higher than in 2022 and the highest since 2019. It is the second rise in a row, after the fall in 2021.
Operating result€65,332
2023
Net result€41,008
2023
Total assets€774,360
2023
Equity€89,422
2023
Debt€684,938
2023
Working capital€191,199
2023
Return on assets (ROA)5.3%
2023
Solvency11.5%
2023
Current ratio1.34
2023
Staff (FTE)12.6
2023
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023
Operating result€4,980-€28,181▲ 466%-€11,572€41,042€65,332▲ 59.2%
Net result€2,294-€23,273within the sector's middle half▲ 914%-€14,795below the sector's middle half€33,642within the sector's middle half€41,008within the sector's middle half▲ 21.9%
Equity€6,294-€29,567within the sector's middle half▲ 370%€14,772within the sector's middle half▼ 50.0%€48,414below the sector's middle half▲ 228%€89,422within the sector's middle half▲ 84.7%
Total assets€69,954-€98,635within the sector's middle half▲ 41.0%€203,206within the sector's middle half▲ 106%€411,022within the sector's middle half▲ 102%€774,360within the sector's middle half▲ 88.4%
Debt€63,660-€69,068▲ 8.5%€188,434▲ 173%€362,607▲ 92.4%€684,938▲ 88.9%
Working capital€2,923-€26,721within the sector's middle half▲ 814%€12,550within the sector's middle half▼ 53.0%€61,086within the sector's middle half▲ 387%€191,199within the sector's middle half▲ 213%
Solvency9.0%-30.0%within the sector's middle half▲ 21.0pp7.3%below the sector's middle half▼ 22.7pp11.8%below the sector's middle half▲ 4.5pp11.5%below the sector's middle half▼ 0.2pp
Current ratio1.10-1.61within the sector's middle half▲ 0.511.07within the sector's middle half▼ 0.541.19within the sector's middle half▲ 0.121.34within the sector's middle half▲ 0.15
Return on assets (ROA)3.3%-23.6%above the sector's middle half▲ 20.3pp-7.3%below the sector's middle half▼ 30.9pp8.2%within the sector's middle half▲ 15.5pp5.3%within the sector's middle half▼ 2.9pp
Staff (FTE)0.5-2.1within the sector's middle half▲ 320%4.2▲ 100%8.9within the sector's middle half▲ 112%12.6within the sector's middle half▲ 41.6%
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €774,360
Fixed assets
€17,149 ▼ 28.8%
Current assets
€757,211 ▲ 95.7%
Equity and liabilities €774,360
Equity
€89,422 ▲ 84.7%
Debt
€684,938 ▲ 88.9%
Debt's share of the balance-sheet total rises from 88.2% to 88.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€73,729▲
2022 · €44,870
Cash flow
€49,406▲
2022 · €37,470
Quick ratio
1.26▲
2022 · 1.08
Debt to equity
7.66▲
2022 · 7.49
ROE
45.9%▼
2022 · 69.5%
Interest coverage
5.34▼
2022 · 6.20
Debt ≤ 1 year
€566,012▲
2022 · €325,839
Debt > 1 year
€107,362▲
2022 · €34,047
Income taxes
€10,515▲
2022 · €294
Staff costs
€598,960▲
2022 · €377,404
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,697 | - | - | - |
| Remuneration, social security and pensions62 | - | - | €121,268 | €377,404 | €598,960 | ▲ 58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,409 | €9,775 | €3,314 | €3,828 | €8,398 | ▲ 119% |
| Other operating charges640/8 | - | - | €4,413 | €7,205 | €9,388 | ▲ 30.3% |
| Gross operating margin9900 | €37,047 | €99,852 | €117,424 | €429,480 | €682,078 | ▲ 58.8% |
| Operating profit (loss)9901 | €4,980 | €28,181 | -€11,572 | €41,042 | €65,332 | ▲ 59.2% |
| Financial income75/76B | - | - | €1,359 | €131 | €4 | ▼ 96.7% |
| Recurring financial income75 | €21 | €866 | €1,359 | €131 | €4 | ▼ 96.7% |
| Financial charges65/66B | - | - | €3,955 | €7,238 | €13,813 | ▲ 90.9% |
| Recurring financial charges65 | €1,207 | €2,147 | €3,955 | €7,238 | €13,813 | ▲ 90.9% |
| Profit (loss) for the period before taxes9903 | €3,794 | €26,901 | -€14,168 | €33,936 | €51,523 | ▲ 51.8% |
| Income taxes67/77 | €1,500 | €3,628 | €627 | €294 | €10,515 | ▲ 36× |
| Profit (loss) for the period9904 | €2,294 | €23,273 | -€14,795 | €33,642 | €41,008 | ▲ 21.9% |
| Profit (loss) for the period to be appropriated9905 | €2,294 | €23,273 | -€14,795 | €33,642 | €41,008 | ▲ 21.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €69,954 | €98,635 | €203,206 | €411,022 | €774,360 | ▲ 88.4% |
| Fixed assets21/28 | €37,722 | €28,247 | €7,582 | €24,097 | €17,149 | ▼ 28.8% |
| Tangible fixed assets22/27 | €37,722 | €27,947 | €6,482 | €22,336 | €15,388 | ▼ 31.1% |
| Plant, machinery and equipment23 | - | - | €1,277 | €1,992 | €2,679 | ▲ 34.5% |
| Furniture and vehicles24 | - | - | €5,205 | €20,344 | €12,709 | ▼ 37.5% |
| Financial fixed assets28 | - | €300 | €1,100 | €1,761 | €1,761 | = |
| Current assets29/58 | €32,232 | €70,388 | €195,624 | €386,925 | €757,211 | ▲ 95.7% |
| Stocks and contracts in progress3 | - | - | - | €36,014 | €44,023 | ▲ 22.2% |
| Stocks30/36 | - | - | - | €36,014 | €44,023 | ▲ 22.2% |
| Amounts receivable within one year40/41 | €28,347 | €37,449 | €159,035 | €308,661 | €698,492 | ▲ 126% |
| Trade receivables40 | - | - | €130,378 | €297,424 | €695,968 | ▲ 134% |
| Other amounts receivable41 | - | - | €28,656 | €11,237 | €2,524 | ▼ 77.5% |
| Cash at bank and in hand54/58 | €2,783 | €24,484 | €22,864 | €30,143 | €6,250 | ▼ 79.3% |
| Deferred charges and accrued income490/1 | - | - | €13,725 | €12,107 | €8,445 | ▼ 30.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €69,954 | €98,635 | €203,206 | €411,022 | €774,360 | ▲ 88.4% |
| Equity10/15 | €6,294 | €29,567 | €14,772 | €48,414 | €89,422 | ▲ 84.7% |
| Contributions10/11 | €4,000 | - | €4,000 | €4,000 | €4,000 | = |
| Profit (loss) carried forward14 | €2,294 | €25,567 | €10,772 | €44,414 | €85,422 | ▲ 92.3% |
| Amounts payable17/49 | €63,660 | €69,068 | €188,434 | €362,607 | €684,938 | ▲ 88.9% |
| Amounts payable after more than one year17 | €34,351 | €25,401 | €5,360 | €34,047 | €107,362 | ▲ 215% |
| Financial debts170/4 | - | - | €5,360 | €34,047 | €107,362 | ▲ 215% |
| Amounts payable within one year42/48 | €29,309 | €43,667 | €183,074 | €325,839 | €566,012 | ▲ 73.7% |
| Current portion of amounts payable after more than one year42 | - | - | €3,657 | €14,700 | €24,209 | ▲ 64.7% |
| Trade debts44 | €18,226 | €23,828 | €162,602 | €221,864 | €452,376 | ▲ 104% |
| Suppliers440/4 | - | - | €162,602 | €221,864 | €452,376 | ▲ 104% |
| Taxes, remuneration and social security45 | - | - | €16,815 | €89,275 | €89,034 | ▼ 0.3% |
| Taxes450/3 | - | - | €4,690 | - | €53,643 | - |
| Remuneration and social security454/9 | - | - | €12,125 | €89,275 | €35,390 | ▼ 60.4% |
| Other amounts payable47/48 | - | - | - | - | €394 | - |
| Accrued charges and deferred income492/3 | - | - | - | €2,722 | €11,563 | ▲ 325% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,294 | €23,273 | -€14,795 | €33,642 | €41,008 | ▲ 21.9% |
| + Depreciation and write-downs630 | €7,409 | €9,775 | €3,314 | €3,828 | €8,398 | ▲ 119% |
| Operating cash flow (approximation) | €9,703 | €33,048 | -€11,481 | €37,470 | €49,406 | ▲ 31.9% |
| Investment in fixed assets (approximation) | - | -€300 | €17,352 | -€20,343 | -€1,450 | ▲ 92.9% |
| Change in cash | - | €21,701 | -€1,620 | €7,278 | -€23,893 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | full format | 30-08-2024 | 2024-00417885 | |
| 31-12-2022 | full format | 29-08-2023 | 2023-00402633 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20388204 | |
| 31-12-2020 | micro format | 24-08-2021 | 2021-56300325 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-50200098 |
Board & ownership
Directors
Directors
1 director
Sigona Adriano
Current
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Trustee | Philippe-Robert Schreder Chaussee De Montigny, 89/A, 6060 Gilly (Charleroi) |
30-06-2025 → present |
Owners and capital
Owners
Network & group
GSA CONSTRUCT shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of GSA CONSTRUCT. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
2025
04-07
Bankruptcy
Opening
Enterprise Court of Hainaut, Charleroi division · judgment of 30-06-2025
2024
30-08
financial year 2023 · full format · 30 days late
2023
31-12
Financial
Highest result from 2019 to 2023net €41,008 ▲21.9%
The operating result of €65,332 and the net result of €41,008 are both a record.
29-08
financial year 2022 · full format · 29 days late
23-03
Gazette deed
Registered officeRegistered-office move2 points ▸
Gazette deed
Registered office
Registered-office move2 points ▸
- General meeting, 28-02-2023
- Registered-office move, Rue Emile Vandervelde,201 6200 Bouffioulx
2022
31-12
Financial
Back to profitnet €33,642
The net result is €33,642, after one loss-making year.
31-08
financial year 2021 · micro format · 31 days late
2021
31-12
Financial
Weakest financial yearnet -€14,795
The net result drops to -€14,795, the lowest from 2019 to 2023.
24-08
financial year 2020 · micro format · 24 days late
2020
31-08
financial year 2019 · micro format · 31 days late
SignalFinancial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Opening faillissement
- Last annual accounts
- financial year to 31 December 2023
- Legal form
- Private limited company
- Active since
- 23 May 2019
Register details
Identity
Name
GSA CONSTRUCT in French
Enterprise number
0727.422.992
Entity type
Legal entity
Registered office and establishments
Registered office
Rue Emile Vandervelde 201, 6200 Châtelet, Belgium
Establishments
1 establishment unit since 2019
Activities
NACEBEL 202541001
General construction of residential buildings main activity
Invoicing and payment
VAT number
BE 0727.422.992
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Cannot be placed on the map
This address was not found in the Belgian address register (BOSA BEST).
Rue Emile Vandervelde 2016200 Châtelet1 establishment unit
GSA CONSTRUCT
since 2019unit number 2.289.696.777