GSM
ActiveGSM has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €494k and a net result of €110k. Equity is growing by ~23.2% per year across the filed fiscal years. Its solvency ranks better than 40% of 16426 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
83
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability83▲+3
Solvency76▼-8
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 3.16 against 4.35 in 2024; short-term debt: 13.9% and cash: 15.9% of total assets), and 49.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 86
Relative position
BE, all sectors
reference
Sector 86
lower
← 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
50.6%
Return on assets
11.3%
Age of the figures
18 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 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
1 d early
2022
on the day
2021
31 d early
2020
23 d late
2019
1 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close17-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€494k▲ 0.8%
2024 · €490k
2019: €80k
2020: €162k
2021: €255k
2022: €346k
2023: €415k
2024: €490k
2019 → 2025
Total assets
€975k▲ 17.2%
2024 · €832k
2019: €206k
2020: €287k
2021: €324k
2022: €389k
2023: €807k
2024: €832k
2019 → 2025
Net result
€110k▲ 43.5%
2024 · €77k
2019: €81k
2020: €83k
2021: €95k
2022: €92k
2023: €71k
2024: €77k
2019 → 2025
Working capital
€292k▲ 11.9%
2024 · €261k
2019: €-4k
2020: €37k
2021: €95k
2022: €184k
2023: €209k
2024: €261k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€255k-€346k▲ 35.7%€415k▲ 20.0%€490k▲ 18.1%€494k▲ 0.8%
Operating result€130k-€129k▼ 0.6%€105k▼ 18.9%€126k▲ 20.5%€169k▲ 34.1%
Net result€95k-€92k▼ 2.3%€71k▼ 23.4%€77k▲ 8.2%€110k▲ 43.5%
Turnover and EBIT margin not published: the micro 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 34% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €975k
Fixed assets
€548k▲ 11.0%
Current assets
€427k▲ 26.1%
Equity and liabilities €975k
Equity
€494k▲ 0.8%
Debt
€481k▲ 40.7%
The debt ratio rises from 41.1% to 49.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€179k▲
2024 · €146k
Cash flow
€120k▲
2024 · €96k
Solvency
50.6%▼
2024 · 58.9%
Current ratio
3.16▼
2024 · 4.35
Quick ratio
3.16▼
2024 · 4.35
Debt / equity
0.98▲
2024 · 0.70
ROE
22.3%▲
2024 · 15.6%
ROA
11.3%▲
2024 · 9.2%
Interest coverage
14.04▲
2024 · 9.92
Debt
€481k▲
2024 · €342k
Debt ≤ 1 year
€135k▲
2024 · €78k
Debt > 1 year
€340k▲
2024 · €260k
Income taxes
€55k▲
2024 · €41k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€832k€975k▲
Fixed assets21/28€493k€548k▲
Tangible fixed assets22/27€23k€78k▲
Plant, machinery and equipment23€4k€2k▼
Furniture and vehicles24€4k€62k▲
Other tangible fixed assets26€15k€13k▼
Financial fixed assets28€470k€470k=
Current assets29/58€339k€427k▲
Amounts receivable after more than one year29€260k€159k▼
Other amounts receivable291€260k€159k▼
Amounts receivable within one year40/41€42k€108k▲
Trade receivables40€17k€6k▼
Other amounts receivable41€25k€102k▲
Cash at bank and in hand54/58€35k€155k▲
Deferred charges and accrued income490/1€2k€6k▲
Equity and liabilities
Total equity and liabilities10/49€832k€975k▲
Equity10/15€490k€494k▲
Contributions10/11€6k€6k=
Reserves13€438k€442k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€436k€440k▲
Profit (loss) carried forward14€46k€46k=
Amounts payable17/49€342k€481k▲
Amounts payable after more than one year17€260k€340k▲
Financial debts170/4€260k€340k▲
Amounts payable within one year42/48€78k€135k▲
Current portion of amounts payable after more than one year42€46k€82k▲
Trade debts44€27k€28k▲
Suppliers440/4€27k€28k▲
Taxes, remuneration and social security45€2k€25k▲
Taxes450/3€2k€25k▲
Other amounts payable47/48€3k€0▼
Accrued charges and deferred income492/3€5k€7k▲
Income statement
Code20242025
Non-recurring operating income76A-€20k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€20k€10k▼
Other operating charges640/8€2k€4k▲
Gross operating margin9900€148k€183k▲
Operating profit (loss)9901€126k€169k▲
Financial income75/76B€7k€8k▲
Recurring financial income75€7k€8k▲
Financial charges65/66B€15k€13k▼
Recurring financial charges65€15k€13k▼
Profit (loss) for the period before taxes9903€118k€164k▲
Income taxes67/77€41k€55k▲
Profit (loss) for the period9904€77k€110k▲
Profit (loss) for the period to be appropriated9905€77k€110k▲
Appropriation of the result
Profit (loss) to be appropriated9906€122k€156k▲
Profit (loss) brought forward from the previous period14P€46k€46k=
Transfer from equity791/2-€106k
Transfer to equity691/2€75k€110k▲
To other reserves6921€75k€110k▲
Profit to be distributed694/7€2k€106k▲
Return on contributions (dividend)694€2k€106k▲
The notes to these accounts (16 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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Highest result since 2019net €110k ▲43.5%
Operating result €169k, net result €110k, both a record.
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Weakest financial yearnet €71k ▼23.4%
Net result drops to €71k, the lowest in the series; recovery starts the following year.
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Liquidity doublescurrent ratio 5.96
Current ratio from 2.73 to 5.96; short-term debt falls from €55k to €37k.
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Equity above €200kEq €255k ▲57.6%
3 profitable years in a row build equity to €255k.
2020
23-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 23 days late
31-03
Financial
Equity above €150kEq €162k ▲101%
2 profitable years in a row build equity to €162k.
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
20-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
20-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Herentals · 1 establishment unit since 2013
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.
Wijngaard(HRT) 332200 HerentalsGround area
2,249 m²
Building footprint
300 m²
Volume, LiDAR
728 m³
Parcel 13011B0651/00D002, Flanders · tallest building 7.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
GSM
since 20132.217.780.383
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13011B0651/00D002 | Flanders | 2,249 m² | 1 · 300 m² | 7.3 m · 1 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 5,992 EUR awarded · 5,896 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 300 EUR | 300 EUR |
| 2024 | 1 | 1,308 EUR | 1,212 EUR |
| 2023 | 1 | 2,144 EUR | 2,594 EUR |
| 2022 | 1 | 2,240 EUR | 1,790 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 12,690 companies in sector 86951 we hold annual accounts for 2,137. 1,054 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded21-03-2013
Fiscal year end31-03
Activities, NACEBEL
86905Human health activities
86951Physiotherapy
86230Dental practice
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.