GSA SERVICES

Active

Private limited companyfounded 20215 yrs activeRue de la Résistance 26/1, 4681 Oupeye, BelgiumKBO/BCE: BE 0764.415.329

The file of GSA SERVICES contains 2 historical bankruptcy publications, as published in the Belgian State Gazette. The computed 12-month bankruptcy probability is 2.9% (moderate). The 2024 annual accounts show equity of €216k and a net result of €-133k. Equity is growing by ~28.9% per year across the filed fiscal years. Its solvency ranks better than 45% of 76 sector peers (fiscal year 2024).

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Checked score

Score 2024

37 / 100

Weak

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability2▼-98

Solvency47▼-12

Growth52▼-26

Track record79

Bankruptcy probability, 12 months

2.9% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €7k at 30 days only on tighter terms

Liquidity short (current ratio 0.93 against 1.51 in 2023; short-term debt: 33.1% and cash: 5.4% of total assets), and 78.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 30

Relative position

BE, all sectors

reference

Sector 30

higher

← fewer bankruptcies more bankruptcies →

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 2024

Solvency, return and age of the figures

Solvency

21.6%

Return on assets

-13.2%

Age of the figures

21 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Prior bankruptcy

Earlier bankruptcy on record in the Belgian State Gazette, no current open procedure.

Belgian State Gazette

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-09-2025, 61 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 · 4 filings

Deviation from the deadline

2025

not confirmed

2024

61 d late

2023

92 d late

2022

157 d late

2021

522 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€216k▼ 38.0%

2023 · €349k

2021: €128k 2022: €76k 2023: €349k

2021 → 2024

Total assets

€1.00M▼ 3.5%

2023 · €1.04M

2021: €675k 2022: €684k 2023: €1.04M

2021 → 2024

Net result

€-133k

2023 · €272k

2021: €-72k 2022: €-51k 2023: €272k

2021 → 2024

Working capital

€-22k

2023 · €112k

2021: €-749 2022: €-60k 2023: €112k

2021 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2021202220232024Trend

Equity€128k-€76k▼ 40.3%€349k▲ 356%€216k▼ 38.0%

Operating result€-67k-€-40k▲ 41.0%€317k€-68k

Net result€-72k-€-51k▲ 28.6%€272k€-133k

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2024: a loss of €68k after €317k in 2023, the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €1.00M

69.1%

30.9%

Fixed assets €692k▼ 2.0%

Current assets €309k▼ 6.7%

Equity and liabilities €1.00M

21.6%

78.4%

Equity €216k▼ 38.0%

Debt €785k▲ 14.0%

The debt ratio rises from 66.4% to 78.4%. Equity is lower and debt is higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€-25k▼

2023 · €347k

Cash flow

€-90k▼

2023 · €302k

Solvency

21.6%▼

2023 · 33.6%

Current ratio

0.93▼

2023 · 1.51

Quick ratio

0.93▼

2023 · 1.51

Debt / equity

3.63▲

2023 · 1.98

ROE

-61.4%▼

2023 · 78.1%

ROA

-13.2%▼

2023 · 26.2%

Interest coverage

-2.43▼

2023 · 20.29

Debt

€785k▲

2023 · €689k

Debt ≤ 1 year

€331k▲

2023 · €219k

Debt > 1 year

€451k▼

2023 · €470k

Income taxes

€62k▲

2023 · €31k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€1.04M€1.00M▼

Fixed assets21/28€706k€692k▼

Tangible fixed assets22/27€706k€692k▼

Land and buildings22€623k€622k▼

Furniture and vehicles24€84k€70k▼

Current assets29/58€331k€309k▼

Amounts receivable within one year40/41€293k€254k▼

Trade receivables40€30k€84k▲

Other amounts receivable41€263k€170k▼

Cash at bank and in hand54/58€37k€54k▲

Deferred charges and accrued income490/1€2k€1k▼

Equity and liabilities

Total equity and liabilities10/49€1.04M€1.00M▼

Equity10/15€349k€216k▼

Contributions10/11€200k€200k=

Profit (loss) carried forward14€149k€16k▼

Amounts payable17/49€689k€785k▲

Amounts payable after more than one year17€470k€451k▼

Financial debts170/4€470k€445k▼

Other amounts payable178/9-€6k

Amounts payable within one year42/48€219k€331k▲

Current portion of amounts payable after more than one year42€24k€43k▲

Financial debts43€64k€19k▼

Credit institutions430/8€64k€19k▼

Trade debts44€48k€97k▲

Suppliers440/4€48k€97k▲

Taxes, remuneration and social security45€83k€172k▲

Taxes450/3€83k€172k▲

Other amounts payable47/48€0-

Accrued charges and deferred income492/3€0€3k▲

Income statement Code20232024

Non-recurring operating income76A€2k€0▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€30k€43k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-52k€66k▲

Other operating charges640/8€13k€9k▼

Non-recurring operating charges66A€120k€0▼

Gross operating margin9900€428k€50k▼

Operating profit (loss)9901€317k€-68k▼

Financial income75/76B€3k€8k▲

Recurring financial income75€3k€8k▲

Financial charges65/66B€17k€10k▼

Recurring financial charges65€17k€10k▼

Profit (loss) for the period before taxes9903€303k€-71k▼

Income taxes67/77€31k€62k▲

Profit (loss) for the period9904€272k€-133k▼

Profit (loss) for the period to be appropriated9905€272k€-133k▼

Appropriation of the result

Profit (loss) to be appropriated9906€149k€16k▼

Profit (loss) brought forward from the previous period14P€-124k€149k▲

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 10Signals 2Financial 4Filings 4

2025

30-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 61 days late

22-05

Bankruptcy Bankruptcy reversal

Tribunal de l’entreprise de Liège, division Liège · GSA SERVICES SRL RUE DE LA RESISTANCE 26, 4681 HERMALLE-SOUS-ARGENT. déclarée le 7 avril 2025 · event 19-05-2025

11-04

Bankruptcy Opening

Tribunal de l’entreprise de Liège, division Liège · GSA SERVICES SRL RUE DE LA RESISTANCE 26, 4681 HERMALLE-SOUS-ARGENTEAU · event 07-04-2025

2024

31-12

Financial Weakest financial yearnet €-133k ▼149%

Net result drops to €-133k, the lowest in the series.

31-10

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 92 days late

04-01

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 157 days late

04-01

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 522 days late

2023

31-12

Financial Back to profitnet €272k

Net result €272k after 2 loss-making years.

31-12

Financial Liquidity triplescurrent ratio 1.51

Current ratio from 0.47 to 1.51.

31-12

Financial Equity above €200kEq €349k ▲356%

Equity rises from €76k to €349k.

SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

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, Oupeye · 1 establishment unit since 2021

establishment The establishment unit on the map

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.

Rue de la Résistance 26/14681 Oupeye

Ground area

41 m²

Parcel 62049A1205/00W000, Wallonia. Linked by address, not a title deed.

1 establishment unit

Rue de la Résistance 26, 4681 Oupeye

Activities auxiliary to financial services and insurance activities

since 20212.314.705.258

1 parcel

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62049A1205/00W000	Wallonia	41 m²	-	-

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Insolvency mandates

2 mandates

Role	Name	Tenure
Curator	ALAIN BODEUS QUAI DE ROME 19/8, 4000 LIEGE 1- ↔ Also on 92 other cases	07-04-2025 → present
Curator	JEAN-PHILIPPE RENAUD QUAI DES ARDENNES 65, 4020 LIEGE 2	07-04-2025 → present