Equity
€54,793 ▼ 13.4%
GSB CONSTRUCT paid out €7,800 in dividends. That is 181% of the 2025 profit.
GSB CONSTRUCT
Lifetime
9 annual accounts with figures on one time axispeak €40,115 (2024)
€38,250▼ 4.6%
lowest -€4,332 (2020)
€4,307▼ 78.6%
peak €63,286 (2024)
€54,793▼ 13.4%
€28,130▼ 0.7%
peak 1 FTE (2020)
-not published
Board2 names since 2019
1 directorBALA Gezim.
Documentsfilings and deeds
20-10-202511 days before the deadline
2025micro format
Result from €20,146 to €4,307Dividend €7,800Equity from €63,286 to €54,793Cash from €46,208 to €3,977
Key points
from the 2025 annual accountsChecked score
64
Healthy
Financially stronger than 37% of micro companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.3% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025lowest value
05-2025: 0.1%● unchanged vs 04-2025lowest value
06-2025: 0.1%● unchanged vs 05-2025lowest value
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.2%▲ +0.1 percentage points vs 09-2025
11-2025: 0.8%▲ +0.6 percentage points vs 10-2025
12-2025: 0.8%● unchanged vs 11-2025
01-2026: 0.8%● unchanged vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.8%● unchanged vs 05-2026
07-2026: 0.8%● unchanged vs 06-2026
08-2026: 0.8%● unchanged vs 07-2026
09-2026: 0.8%● unchanged vs 08-2026
10-2026: 1.1%▲ +0.3 percentage points vs 09-2026
11-2026: 1.3%▲ +0.2 percentage points vs 10-2026highest value
Financial strengthStrong
Score breakdown
raises risk
Figures for financial year 2025 (filed on 20-10-2025)
Size: total assets €82,923
Sector: Specialised construction activities (NACE 43)
1 financial year not filed after the legal deadline
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 72% of them on solvency, 31% on liquidity, 22% on profitability and 22% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-03-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 34,693 companies had the same profile as GSB CONSTRUCT has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
The bankruptcy probability of GSB CONSTRUCT itself is higher: 1.3% within 12 months. It rests on far more data about GSB CONSTRUCT than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for GSB CONSTRUCT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €3,500 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 2.85 (3.07 in 2024), above the usual 1.5. Short-term debt is 33.6% and cash 4.8% of total assets. 33.9% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
raises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 20-10-2025, 11 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2026
not filed
2025
11 days early
2024
6 days early
2023
1 day early
2022
7 days late
2021
3 days late
2020
2 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 2 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0646800156
Amendment of the articles · Legal-form change · Resignations & appointments
General meeting of 26-12-2023 · Gazette deed
Registered office moved within Evere
Transfer of shares from PAPDAN Szabolcs Otto to BALA Gezim · New registered office: Allées de Provence 42, 1140 Evere · Previous registered office: Rue Frans Pepermans 70, 1140 Evere · General meeting of 04-10-2019 · Gazette deed
Incorporation
published on 22-01-2016 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GSB CONSTRUCT Evere | €82,923 | €38,250 | 66.1% | - |
| AZH EXPORT Molenbeek-Saint-Jean | €85,997 | €44,225 | 50.8% | - |
| CONSTRUFORT Uccle | €85,767 | €36,878 | 22.9% | - |
| M.C. Interconstruct Anderlecht | €79,023 | €43,704 | 47.8% | - |
| Kees Oostvogels Greenhouses Rijkevorsel | €81,916 | €39,054 | 75.9% | - |
| APART POOLS Brasschaat | €77,102 | €40,290 | 52.0% | - |
| SCAFF - FIX Antwerp | €89,020 | €34,649 | 58.7% | - |
These companies have the same main activity as GSB CONSTRUCT: other specialised construction activities (NACE 43990). They are comparable in size and age: total assets between €77,100 and €89,000, founded between 2014 and 2016.
Official details
Source: KBO- Status
- Active since 20-01-2016Normal situation
- Activity
- Other specialised construction activitiesNACE 43990
- Establishment unit
- 2.249.661.1171140 Evere, since 20-01-2016
- Financial year end
- 31 March
- Peppol
- Reachable since 15-12-2025
Annual accounts to 31-03-2025
- €82,923▼ 9.5%
- Employeeson 31-03-2025
- 1
- Filing
- Filed on 20-10-2025
Insights on GSB CONSTRUCT
GSB CONSTRUCT files the micro format. That format states no turnover. The gross margin rose from €7,977 in 2017 to €38,250 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about GSB CONSTRUCT
- What is the company number of GSB CONSTRUCT?
- The company number of GSB CONSTRUCT is 0646.800.156. The VAT number is the same number with BE in front: BE 0646.800.156.
- Where is GSB CONSTRUCT based?
- The registered office is at Provencewandelwegen 42, 1140 Evere.Company details
- What does GSB CONSTRUCT do?
- According to the KBO register, the main activity is other specialised construction activities (NACE 43990).
- What is the legal form of GSB CONSTRUCT?
- GSB CONSTRUCT is a private limited company (BV).
- When was GSB CONSTRUCT founded?
- GSB CONSTRUCT was founded on 20-01-2016.
- Is GSB CONSTRUCT still active?
- Yes, GSB CONSTRUCT is an active enterprise in the KBO register.
- How many employees does GSB CONSTRUCT have?
- GSB CONSTRUCT had an average of 0.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of GSB CONSTRUCT?
- The turnover in financial year 2025 is ≈ €330,000. This figure is estimated from the gross margin of €38,250 and 93 comparable companies (NACE 43990). It probably lies between €220,000 and €590,000.
- Is GSB CONSTRUCT profitable?
- In financial year 2025, GSB CONSTRUCT made a profit of €4,307.
- Where can I find the annual accounts of GSB CONSTRUCT?
- GSB CONSTRUCT filed 9 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
Next steps
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