Equity
€635,862 ▲ 11.5%
GSF ENGINEERING has made a profit in every financial year since 2020.
GSF ENGINEERING
Overview
Lifetime
5 annual accounts with figures on one time axispeak €449,990 (2021)
€164,597▲ 28.3%
peak €252,181 (2020)
€65,456▲ 275%
peak €635,862 (2024)
€635,862▲ 11.5%
€854,107▼ 13.1%
peak 0.8 FTE (2020)
-not published
Board2 names since 2020
2 directors and 1 other
Documentsfilings and deeds
29-08-202529 days late
2024micro format
Gross margin from €128,249 to €164,597Result from €17,477 to €65,456Investments €439,230Cash from €14,209 to €82,333
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Key points
from the 2024 annual accountsTurnover
≈ €410,000 estimated
The micro format states no turnover.
Investments
€439,230 4.9 × depreciation
Green is investment, beige is depreciation.
Filings
5 annual accounts 103 days past the deadline
2025 accounts not filed: deadline was 31-07-2026.
Starting capital
€10,000 200 shares
Position in the sector
€635,862
More equity than 95% of companies in other professional activities. Sector median €41,665 · 4,288 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 5,047 companies had the same profile as GSF ENGINEERING has now. Each dot stands for 13 companies, two years later.
94.0%
were still trading
3.8%
stopped another way
2.2%
went bankrupt
Test of the method
The method was tested on the 497,448 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 5,047 companies, not a prediction for GSF ENGINEERING. 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
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Signals
6 signals are hidden.
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Board and ownership
Chair
Director, since 03-02-2020
- 100 sharesdeed of 12-02-2020
- 100 sharesdeed of 12-02-2020
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0742851041
Incorporation
Founding capital of €10,000, 200 shares · Founders: and · Appointments: (statutory director) and (statutory director) · published on 12-02-2020 · Gazette deed
First establishment
Chaussée de Charleroi,Gd-M. 283, Gembloux
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Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GSF ENGINEERING Gembloux | €1.5m | €164,597 | 42.7% | - |
| TD Consultancy Services Sint-Martens-Latem | €1.4m | €180,329 | 98.6% | - |
| IPWal Gembloux | €1.1m | €114,522 | 9.4% | - |
| WE GREEN INVEST Ixelles | €1.6m | €260,222 | 29.9% | - |
| ACUSTICA Meise | €1.7m | €236,664 | 17.8% | - |
| PLFA Roeselare | €1.7m | €158,229 | 69.6% | - |
| VALMEA Uccle | €1.5m | €266,805 | 15.1% | - |
These companies have the same main activity as GSF ENGINEERING: other professional, scientific and technical activities (NACE 74999). They are comparable in size and age: total assets between €1.1m and €1.7m, founded between 2017 and 2020.
Official details
Source: KBO- Status
- Active since 03-02-2020Normal situation
- Activity
- Other professional, scientific and technical activitiesNACE 74999and 7 others
- Joint committee
- 209White-collar workers in metal manufacturing · annual accounts 2023
- Establishment unit
- 2.300.228.4055030 Gembloux, since 03-02-2020
- Financial year end
- 31 December
- Peppol
- Reachable since 20-11-2020
Annual accounts 2024
- €164,597▲ 28.3%
- €65,456▲ 275%
- €635,862▲ 11.5%
- €1.5m▼ 4.1%
- Employeeson 31-12-2024
- 2
- Filing
- Filed on 29-08-2025
Insights on GSF ENGINEERING
GSF ENGINEERING files the micro format. That format states no turnover. The gross margin fell from €410,378 in 2020 to €164,597 in 2024.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2024
micro format, filed on 29-08-2025, 29 days late2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 11 November 2026.
€164,597
▲ 28.3%
€73,411
▲ 432%
€163,163
▲ 136%
€155,208
▲ 113%
42.7%
▲ 6.0 percentage points
1.34
▼ 0.20
Money flows
no detail for 2024Balance sheet
balance sheet total €1.5m on 31-12-2024What the company ownsHow it is paid for
in euro
in euro
Position in the sector
42.7%
Higher than 43% of 4,285 companies in 2024.
1.34
Higher than 36% of 4,125 companies in 2024.
4.4%
Higher than 39% of 4,160 companies in 2024.
GSF ENGINEERING
Middle half of the sector
80% of the sector
Micro accounts in other professional activities (NACE 74)
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter
Staff
€973
Staff costs divided by the average number of full-time equivalents.
+2 people
people who joined
people who left
In 2024, 2 people joined and nobody left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
1.5m | 1.6m | 1.5m | 976,689 | 528,395 | |
21/28 |
413,483 | 64,005 | 117,604 | 54,437 | 29,904 | |
21 |
352,773 | - | - | - | - | |
22/27 |
60,710 | 64,005 | 117,604 | 54,437 | 29,904 | |
23 |
0 | 39,674 | 79,736 | 1,571 | 2,238 | |
24 |
60,710 | 24,332 | 37,869 | 52,867 | 27,666 | |
29/58 |
1.1m | 1.5m | 1.4m | 922,251 | 498,491 | |
3 |
309,442 | 823,000 | 630,000 | - | - | |
30/36 |
309,442 | 823,000 | 630,000 | - | - | |
40/41 |
684,559 | 651,187 | 409,027 | 790,755 | 307,914 | |
40 |
634,626 | 474,948 | 273,068 | 725,000 | 301,571 | |
41 |
49,933 | 176,239 | 135,959 | 65,756 | 6,343 | |
54/58 |
82,333 | 14,209 | 353,579 | 131,191 | 190,119 | |
490/1 |
151 | 1,047 | 2,060 | 305 | 458 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
1.5m | 1.6m | 1.5m | 976,689 | 528,395 | |
10/15 |
635,862 | 570,406 | 552,929 | 513,987 | 262,181 | |
10/11 |
10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
13 |
625,862 | 560,406 | 542,929 | 503,987 | 252,181 | |
133 |
625,862 | 560,406 | 542,929 | 503,987 | 252,181 | |
17/49 |
854,107 | 983,042 | 959,340 | 462,702 | 266,214 | |
17 |
33,852 | - | 12,232 | 29,380 | 17,622 | |
170/4 |
33,852 | - | 12,232 | 29,380 | 17,622 | |
42/48 |
806,002 | 969,042 | 939,108 | 421,321 | 226,592 | |
42 |
12,014 | 12,232 | 17,148 | 23,939 | 5,891 | |
44 |
581,293 | 843,972 | 773,843 | 92,770 | 44,080 | |
440/4 |
581,293 | 843,972 | 773,843 | 92,770 | 44,080 | |
45 |
4,182 | 31,705 | 148,117 | 304,612 | 176,622 | |
450/3 |
1,334 | 23,561 | 132,370 | 288,300 | 168,701 | |
454/9 |
2,848 | 8,144 | 15,747 | 16,312 | 7,921 | |
47/48 |
208,512 | 81,133 | - | 0 | - | |
492/3 |
14,252 | 14,000 | 8,000 | 12,000 | 22,000 | |
| Income statement | ||||||
70 |
- | - | 895,930 | - | - | |
9900 |
164,597 | 128,249 | 206,690 | 449,990 | 410,378 | |
60/61 |
- | - | 689,240 | - | - | |
62 |
487 | 58,363 | 74,557 | 71,231 | 40,995 | |
630 |
89,752 | 55,346 | 55,079 | 15,117 | 1,656 | |
640/8 |
947 | 753 | 1,611 | 213 | - | |
9901 |
73,411 | 13,787 | 75,444 | 363,430 | 367,727 | |
75/76B |
2,535 | 21,743 | 3,582 | 5,774 | - | |
75 |
2,535 | 21,743 | 3,582 | 5,774 | - | |
65/66B |
6,910 | 7,424 | 22,260 | 2,956 | 833 | |
65 |
6,910 | 7,424 | 22,260 | 2,956 | 833 | |
9903 |
69,036 | 28,106 | 56,766 | 366,247 | 366,894 | |
67/77 |
3,580 | 10,629 | 17,824 | 114,441 | 114,713 | |
9904 |
65,456 | 17,477 | 38,942 | 251,806 | 252,181 | |
9905 |
65,456 | 17,477 | 38,942 | 251,806 | 252,181 | |
| Appropriation of the result | ||||||
9906 |
65,456 | 17,477 | 38,942 | 251,806 | 252,181 | |
691/2 |
65,456 | 17,477 | 38,942 | 251,806 | 252,181 | |
6921 |
65,456 | 17,477 | 38,942 | 251,806 | 252,181 | |
| Social balance sheet | ||||||
9087 |
0.5 | 0.8 | - | - | 0.8 | |
Hours worked1013 |
611 | 1,523 | - | - | 1,581 | |
| Document | ||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 29-08-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 29-08-2025 | 2025-00480287 | |
| 31-12-2023 | micro format | 26-09-2024 | 2024-00475055 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00402469 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20422442 | |
| 31-12-2020 | micro format | 13-09-2021 | 2021-67100350 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| 163,163 | 69,132 | 130,522 | 378,547 | 369,383 | ||
| 155,208 | 72,823 | 94,021 | 266,923 | 253,837 | ||
| 439,230 | 1,747 | 118,245 | 39,651 | 31,559 | ||
| 68,124 | -339,370 | 222,388 | -58,928 | - | ||
| 270,483 | 520,401 | 455,557 | 500,930 | 271,899 | ||
| - | - | 8.4% | - | - | ||
| 42.7% | 36.7% | 36.6% | 52.6% | 49.6% | ||
| 1.34 | 1.54 | 1.49 | 2.19 | 2.20 | ||
| 0.95 | 0.69 | 0.81 | 2.19 | 2.20 | ||
| 1.34 | 1.72 | 1.74 | 0.90 | 1.02 | ||
| 10.3% | 3.1% | 7.0% | 49.0% | 96.2% | ||
| 4.4% | 1.1% | 2.6% | 25.8% | 47.7% | ||
| 23.61 | 9.31 | 5.86 | over 100 | - | ||
| - | - | 111 days | - | - | ||
| - | - | 410 days | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2024 | 31-12-2023 |
|---|---|---|
| Employees at the balance-sheet date | 2 | - |
| full-time | 2 | - |
| in full-time equivalents | 2 | - |
| 0.5 | 0.8 | |
| Joined | 2 | - |
| Left | 0 | - |
Source: social balance sheet in the 2023 to 2024 annual accounts
Investments
fixed assets acquired| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | €53,227 | €1,747 | €118,245 | €39,651 |
| Intangible fixed assets | €386,003 | - | - | - |
| €89,752 | €55,346 | €55,079 | €15,117 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Insights on GSF ENGINEERING
The operating result for 2024 is 5.3 times that of 2023. It is a recovery after the fall in 2023.
Debt's share of the balance-sheet total falls from 63.3% to 57.3%. Equity is higher and debt is lower.
Board & ownership
Board
2 directors, since incorporationChair and statutory director
chair appointed by deed of 12-02-2020
statutory director since 03-02-2020
listed in the 2024 annual accounts, filed on 29-08-2025
Statutory director
since 03-02-2020
term without a fixed end
listed in the 2024 annual accounts, filed on 29-08-2025
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Mandates through the years
2 names, the dashed line is todayStatutory director, Chair
Statutory director
LeadershipBoardEarlierend not dated
Mandates as a list
-
- Statutory director, from 03-02-2020 to date
- Managing director, appointed by deed of 12-02-2020, last mentioned in 2020
- Chair, appointed by deed of 12-02-2020, still in office
-
- Statutory director, from 03-02-2020 to date
- Managing director, appointed by deed of 12-02-2020, last mentioned in 2020
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Control
Founders
,
This company
GSF ENGINEERING
Equity €635,862
Profit €65,456 in 2024
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Capital
- Contribution
- €10,000
- Shares
- 200
- Contribution per share
- €50
- Equity per share
- €3,179 in 2024
- Source
- deed of 12-02-2020
Articles of association
deed of 12-02-2020 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Thursday of May at 18:00
Shareholders
At incorporation
deed of 12-02-2020 ↗
- 100 shares (50%) · €5,000
- 100 shares (50%) · €5,000
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Network & group
No group
GSF ENGINEERING has no parent and no holdings in its annual accounts.
The LEI register names no parent.
Connections & network
2 connected companiesThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
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Linked via shared directors
via and · Director (not named in the articles) · deed of 05-01-2024
Founded in 2018 · total assets €1.7m (2024) · accounts filed late
via · Director (not named in the articles) · deed of 26-01-2022
Founded in 2022 · total assets €545,561 (2024) · accounts filed late
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Timeline
Timeline
10 events since 2020Filings
Financial
Establishments
2020202220242026
2025
Annual accounts 2024 filed PDFmicro format · 29 days late
2024
Annual accounts 2023 filed PDFmicro format · 57 days late
2023
Weakest financial year net €17,477 ▼55.1% The net result drops to €17,477, the lowest from 2020 to 2024. It recovers the following year.
Annual accounts 2022 filed PDFmicro format · 30 days late
2022
Annual accounts 2021 filed PDFmicro format · 31 days late
2021
Equity above €500,000 equity €513,987 ▲96% With a profit in every financial year since 2020, equity grows to €513,987.
Annual accounts 2020 filed PDFmicro format · 44 days late
2020
Registered in the Peppol Directory Reachable for e-invoices through 0208:0742851041
IncorporationFounding capital of €10,000, 200 shares · Founders: and · Appointments: (statutory director) and (statutory director) · published on 12-02-20209 points ▸
- Founder,
- Founder,
- Founding capital, €10,000, 200 shares
- 200 shares
- Director appointment, (statutory director)
- Director appointment, (statutory director)
- Director appointment, (chair)
- Director appointment, (managing director)
- Director appointment, (managing director)
- The deed holds 3 more points.
First establishment Chaussée de Charleroi,Gd-M. 283, Gembloux
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Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
On 3 February 2020, GSF ENGINEERING was incorporated as a private limited company by two natural persons, with a starting capital of €10,000.12 Of the 2 current board members, 2 have served since 2020.3 Total assets went from €528,395 in 2020 to €1.5m in 2024 and headcount from 0.8 to 0.5 full-time equivalents.4
Company details
Identity
- Enterprise number
- 0742.851.041
- VAT number
- BE 0742.851.041
- Peppol ID
- 0208:0742851041
- LEI code
- 648800107GCRZNWPP474 live in the LEI register
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 03-02-2020
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Last Thursday of May at 18:00deed of 12-02-2020 (in French)
- Peppol
- Reachable since 20-11-2020Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- GSF ENGINEERING in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 12-02-2020 (in French)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Région Wallonne”deed of 12-02-2020 (in French)
Activities
NACEBEL 2025VAT activities
74999
Other professional, scientific and technical activities main activity
Social security (RSZ) activities
61200
Telecommunications resale and intermediation services main activity
Joint committees annual accounts 2023
JC 209
White-collar workers in metal manufacturing
Codes under NACEBEL 2008
VAT activities
74909
Other professional, scientific and technical activities main activity
26120
Manufacture of computer, electronic and optical products
47430
Retail trade
62020
IT consultancy
71121
Engineering activities
72190
Scientific research and development
74109
Other professional, scientific and technical activities
Social security (RSZ) activities
61900
Telecommunications main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Toutes activités liées à la recherche et au développement dans le domaine de l'électronique,de la mécanique,de l'informatique,de l'énergie…”deed of 12-02-2020 (in French)
15 activities
- Toutes activités liées à la recherche et au développement dans le domaine de l'électronique,de la mécanique,de l'informatique,de l'énergie verte,de l'audio-visuel,de l'optique et tous autres domaines
- La création de tous logiciels
- La commercialisation,par le biais d'octroi de licence,de vente ou autrement,de brevets d'invention,dessins et modèles,marques,droit d'auteur,noms de domaines,noms commerciaux
- La fabrication,la construction,le montage,l'achat,l'importation,la vente,l'exportation,la location de tous matériaux,produits,machines,circuits,outillages
- La prestation de tous services de consultance et d'assistance à des sociétés liées ou toutes autres sociétés
- La conception,la réalisation,la transformation,la production,la sous-traitance,la distribution,la location,la commercialisation,en gros ou au détail,de tous objets,marchandises
- Acquérir,vendre,échanger,mettre en location,louer,sous-louer,exploiter,entretenir tous biens immobiliers dont notamment des maisons,appartements,bureaux,magasins,terrains,terres,parking et domaines,de même que des fonds de commerce,et accomplir toutes opérations de financement
- Faire toutes activités de construction,démolition,transformation,rénovation d'immeubles
- Faire leur aménagement,leur décoration,les prendre ou les donner en caution,prendre ou donner des droits d'emphytéose ou de superficie,faire tous travaux en vue de rendre des immeubles rentables,lotir des terrains,procéder à l'urbanisation d'un bien,créer la voirie nécessaire,conclure tout contrat de leasing,etc.
- Louer,sous-louer,acquérir des droits réels ou la pleine propriété de tout immeuble dans le but soit d'y établir son siège social,un siège d'exploitation,ou d'y loger ses dirigeants et les membres de leur famille à titre de résidence principale
- Faire toutes opérations commerciales,industrielles,immobilières,mobilières ou financières,se rattachant directement ou indirectement à son objet social
- Pourvoir,en tant qu'administrateur ou autrement,à l'administration,à la supervision,et au contrôle de toutes sociétés liées/filiales ou avec lesquelles il existe un lien de participation et toutes autres
- Exercer les fonctions de liquidateur dans d'autres sociétés
- Par apport en espèces ou en nature,par fusion,souscription,participation,intervention financière ou autrement,prendre des participations dans toutes autres sociétés,existantes ou à créer,tant en Belgique qu'à l'étranger
- Se porter caution,donner toute sûreté personnelle ou réelle en faveur de toute personne ou société,liée ou non,et consentir tous prêts ou garanties pour des prêts consentis par des tiers à ces sociétés liées ou filiales ou avec lesquelles il existe un lien de participation et toutes autres,sous quelque forme et pour quelque durée que ce soit
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Chaussée de Charleroi,Gd-M. 283 registered office 5030 Gembloux | 03-02-2020 | 2.300.228.405 |