GSA INFRA
Active1 interim measureSummary
The file of GSA INFRA contains 1 interim measure, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 3.3% (moderate). The 2025 annual accounts show equity of €1.48M and a net result of €145k. Equity is growing by ~3.4% per year across the filed fiscal years. Its solvency ranks better than 45% of 7777 sector peers (fiscal year 2025).
Checked score
Score 2025
49
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability74▲+5
Solvency65▼-19
Growth52=
Track record80
Bankruptcy probability, 12 months
3.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days only on tighter terms
Liquidity ample (current ratio 1.61 against 1.92 in 2024; short-term debt: 60.1% and cash: 2.4% of total assets), but 60.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven 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
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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
39.8%
Return on assets
3.9%
Age of the figures
15 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
2 d early
2023
1 d early
2022
1 d early
2021
78 d late
2020
17 d early
2019
32 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close24-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.48M▲ 10.9%
2024 · €1.33M
2018: €927k
2019: €1.17M
2020: €1.31M
2021: €1.32M
2022: €1.32M
2023: €1.33M
2024: €1.33M
2018 → 2025
Total assets
€3.71M▲ 65.3%
2024 · €2.25M
2018: €2.00M
2019: €4.41M
2020: €6.48M
2021: €3.62M
2022: €3.64M
2023: €2.16M
2024: €2.25M
2018 → 2025
Net result
€145k▲ 3,819%
2024 · €4k
2018: €223k
2019: €234k
2020: €140k
2021: €1k
2022: €323
2023: €3k
2024: €4k
2018 → 2025
Working capital
€1.37M▲ 62.1%
2024 · €844k
2018: €902k
2019: €982k
2020: €1.16M
2021: €441k
2022: €466k
2023: €411k
2024: €844k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.32M-€1.32M=€1.33M▲ 0.2%€1.33M▲ 0.3%€1.48M▲ 10.9%
Operating result€52k-€16k▼ 69.9%€10k▼ 38.4%€12k▲ 28.3%€191k▲ 1,455%
Net result€1k-€323▼ 77.9%€3k▲ 687%€4k▲ 45.3%€145k▲ 3,819%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 1,455% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.71M
Fixed assets
€110k ▼ 77.3%
Current assets
€3.60M ▲ 105%
Equity and liabilities €3.71M
Equity
€1.48M ▲ 10.9%
Debt
€2.24M ▲ 144%
Debt's share of the balance-sheet total rises from 40.7% to 60.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€258k▲
2024 · €84k
Cash flow
€211k▲
2024 · €76k
Current ratio
1.61▼
2024 · 1.92
Debt to equity
1.52▲
2024 · 0.69
ROE
9.8%▲
2024 · 0.3%
ROA
3.9%▲
2024 · 0.2%
Interest coverage
48.45▲
2024 · 11.37
Debt ≤ 1 year
€2.23M▲
2024 · €915k
Income taxes
€102k▲
2024 · €15k
Staff costs
€1.59M▲
2024 · €1.39M
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 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.25M€3.71M▲
Fixed assets21/28€487k€110k▼
Tangible fixed assets22/27€52k€47k▼
Plant, machinery and equipment23€3k€2k▼
Furniture and vehicles24€49k€45k▼
Leasing and similar rights25€0-
Financial fixed assets28€434k€63k▼
Current assets29/58€1.76M€3.60M▲
Amounts receivable after more than one year29€67k€0▼
Other amounts receivable291€67k€0▼
Amounts receivable within one year40/41€1.65M€3.51M▲
Trade receivables40€1.52M€3.46M▲
Other amounts receivable41€139k€49k▼
Cash at bank and in hand54/58€19k€88k▲
Deferred charges and accrued income490/1€19k€93▼
Equity and liabilities
Total equity and liabilities10/49€2.25M€3.71M▲
Equity10/15€1.33M€1.48M▲
Contributions10/11€19k€19k=
Reserves13€1.31M€1.46M▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€1.31M€1.46M▲
Amounts payable17/49€915k€2.24M▲
Amounts payable within one year42/48€915k€2.23M▲
Current portion of amounts payable after more than one year42€0-
Financial debts43€31k€30k▼
Credit institutions430/8€31k€30k▼
Trade debts44€743k€990k▲
Suppliers440/4€743k€990k▲
Taxes, remuneration and social security45€141k€427k▲
Taxes450/3€11k€21k▲
Remuneration and social security454/9€131k€406k▲
Other amounts payable47/48-€786k
Accrued charges and deferred income492/3-€3k
Income statement
Code20242025
Non-recurring operating income76A€9k€0▼
Remuneration, social security and pensions62€1.39M€1.59M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€72k€67k▼
Other operating charges640/8€17k€202k▲
Non-recurring operating charges66A€0-
Gross operating margin9900€1.50M€2.05M▲
Operating profit (loss)9901€12k€191k▲
Financial income75/76B€14k€61k▲
Recurring financial income75€14k€61k▲
Financial charges65/66B€7k€5k▼
Recurring financial charges65€7k€5k▼
Profit (loss) for the period before taxes9903€19k€247k▲
Income taxes67/77€15k€102k▲
Profit (loss) for the period9904€4k€145k▲
Profit (loss) for the period to be appropriated9905€4k€145k▲
Appropriation of the result
Profit (loss) to be appropriated9906€4k€145k▲
Transfer to equity691/2€4k€145k▲
To other reserves6921€4k€145k▲
Social balance
Average headcount (FTE)908725.226.0▲
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
13-07
Interim measure
Provisional administrator
Ondernemingsrechtbank Gent
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 78 days late
30-06
Financial
Weakest financial yearnet €323 ▼77.9%
Net result drops to €323, the lowest in the series; recovery starts the following year.
2021
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
01-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 32 days late
2019
31-12
Financial
Highest result since 2018net €234k ▲4.7%
Operating result €348k, net result €234k, both a record.
31-12
Financial
Equity above €1MEq €1.17M ▲26.5%
2 profitable years in a row build equity to €1.17M.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
05-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Sint-Niklaas · 2 establishment units since 2009
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Europark-Oost 159100 Sint-NiklaasGround area
1.9 ha
Building footprint
4,987 m²
Volume, LiDAR
14,534 m³
2 parcels, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
GSA INFRA
since 20092.179.346.114
GSA INFRA
since 20222.332.424.287
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46442C0412/00P000 | Flanders | 1.1 ha | 1 · 2,910 m² | - |
| 46442C0428/00G000 | Flanders | 8,157 m² | 1 · 2,077 m² | 8.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 727 EUR awarded · 727 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 727 EUR | 727 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
3 categoriesGSA INFRA BV43770
Similar companies · same sector, comparable size
MKGro
BE 0866.422.806
Knokke-Heist · Eq €1,475,057
HECTOR VAN MOER EN ZONEN
BE 0464.694.930
Beveren-Kruibeke-Zwijndrecht · Eq €1,479,226
LARDOT CONSTRUCT
BE 0733.812.225
Namur · Eq €1,465,769
VERHEGGHE KOEN
BE 0480.285.107
Oostkamp · Eq €1,485,992
ANDEP
BE 0428.368.430
Deinze · Eq €1,462,251
Of 8,455 companies in sector 43120 we hold annual accounts for 3,233. 1,431 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-06-2009
Fiscal year end30-06
Activities, NACEBEL 2025
42220Construction of utility projects for electricity and telecommunications
43120Site preparation
43130Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.