Checked.be
Active
BE 0810.960.481Private limited company
GST
Gelderstraat 24 ·2270 Herenthout, Belgium· 17 yrs active
Sector: Sawmilling and planing of wood
(16110)
Conclusion
GST has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €11k and a net result of €3k. Equity is shrinking by ~23.3% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 13% of 263 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Based on the State Gazette, CBE and 6 annual accounts.
Key figures
| Equity | €11k |
| Net result | €3k |
| Staff (FTE) | 0.6 |
| Better than sector | 13% |
Financial profile
64
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
71
Profitability
100
Solvency
19
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2009, 17 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
71
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€1k
estimate, not credit advice
Score history
75
2020
22
2021
81
2022
66
2023
22
2024
71
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.09 (≥ 1.0)
+5
Leverage
Debt/equity 9.83 (> 3.0)
-10
Profitability
ROE 28% (≥ 10%)
+10
Interest coverage
Interest coverage 4.5× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 24-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
At this pace, equity would indicatively turn negative around fiscal year 2027, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 16, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 9.2% | 42.1% | |
| Net result | €3k | €28k | |
| Equity | €11k | €400k | |
| Gross operating margin | €35k | €294k | |
| Staff costs | €27k | €247k |
€8k
-
20-25
€3k
-
20-25
€5k
-
20-25
€124k
+11.8%
20-25
€11k
+38.0%
20-25
€10k
+70.9%
20-25
1
-66.7%
20-25
€27k
-
20-25
€284
-
20-25
€112k
+9.7%
20-25
€110k
+10.0%
20-25
€3k
-66.4%
20-25
1.09
+3.1%
20-25
0.63
+2.9%
20-25
9.2%
+23.4%
20-25
9.83
-20.5%
20-25
27.5%
-
20-25
2.5%
-
20-25
4.47
-
20-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €8k | €-21k | €16k | €26k | €-2k |
| Net profit | €3k | €-27k | €980 | €6k | €-21k |
| Cash flow | €5k | €-23k | €15k | €23k | €-5k |
| Staff costs | €27k | - | - | - | - |
| Income taxes | - | - | - | - | - |
| Dividends | - | - | - | - | - |
| Total assets | €124k | €110k | €122k | €115k | €132k |
| Equity | €11k | €8k | €36k | €35k | €28k |
| Debt | €112k | €102k | €86k | €80k | €104k |
| of which ≤ 1y | €110k | €100k | €84k | €78k | €98k |
| of which > 1y | - | - | - | - | €3k |
| Working capital | €10k | €6k | €29k | €19k | €374 |
| Employees (FTE) | 0.6 | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.09 | 1.06 | 1.35 | 1.24 | 1.00 |
| Quick ratio | 0.63 | 0.61 | 0.63 | 0.83 | 0.75 |
| Working capital ratio | 8.3% | 5.4% | 23.9% | 16.2% | 0.3% |
| Solvency | 9.2% | 7.5% | 29.2% | 30.2% | 21.3% |
| Debt / equity | 9.83 | 12.36 | 2.42 | 2.32 | 3.70 |
| Long-term debt ratio | - | - | - | - | 0.11 |
| Interest coverage | 4.47 | -14.13 | 9.07 | 8.87 | -0.65 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 2.5% | -24.7% | 0.8% | 5.6% | -16.0% |
| ROE | 27.5% | -330.0% | 2.8% | 18.7% | -75.0% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €124k | €110k | €122k | €115k | €132k |
| Fixed assets | 21/28 | €4k | €5k | €9k | €19k | €33k |
| Tangible fixed assets | 22/27 | €4k | €5k | €9k | €19k | €33k |
| Current assets | 29/58 | €120k | €106k | €113k | €96k | €99k |
| Stocks & contracts in progress | 3 | €51k | €45k | €60k | €32k | €25k |
| Amounts receivable within one year | 40/41 | €67k | €58k | €51k | €62k | €71k |
| Cash & bank | 54/58 | €345 | €208 | €6 | €357 | €2k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €124k | €110k | €122k | €115k | €132k |
| Equity | 10/15 | €11k | €8k | €36k | €35k | €28k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €2k | €2k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €-9k | €-12k | €15k | €14k | €8k |
| Amounts payable | 17/49 | €112k | €102k | €86k | €80k | €104k |
| Amounts payable after one year | 17 | - | - | - | - | €3k |
| Amounts payable within one year | 42/48 | €110k | €100k | €84k | €78k | €98k |
| Trade debts payable within one year | 44 | €46k | €39k | €29k | €35k | €54k |
| Income statement | ||||||
| Gross operating margin | 9900 | €35k | €-21k | €17k | €26k | €-2k |
| Operating result | 9901 | €6k | €-26k | €3k | €9k | €-18k |
| Financial income | 75 | €0 | €9 | €34 | €20 | - |
| Financial charges | 65 | €2k | €1k | €2k | €3k | €3k |
| Result before taxes | 9903 | €3k | €-27k | €980 | €6k | €-21k |
| Net result for the period | 9904 | €3k | €-27k | €980 | €6k | €-21k |
| Result to be appropriated | 9905 | €3k | €-27k | €980 | €6k | €-21k |
Directors & mandates
Current directors & mandates
-
GILS Daniel Frans AmelieDirectorState Gazette act 24434405 (07-10-2024)Current07-10-2024 → present
Legal Structure
| NACE primary | Sawmilling and planing of wood(16110) |
| Legal form | Private limited company(610) |
| Incorporation | 26-03-2009 |
| Status | Active |
| Postal code | 2270 |
Establishment units
GST
since 20092.178.536.658
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13012E0257/00M010 | Flanders | 1,132 m² | 1 · 195 m² | 8.8 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
31-12
Financial
Back to profitnet €3k
Net result €3k after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet €-27k ▼2886%
Net result drops to €-27k, the lowest in the series; recovery starts the following year.
07-10
State Gazette act
Director changes
v3.2
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
19-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 19 days late
2022
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
13-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 44 days late
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 26 days late
2019
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 24 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 1
updated 1 year ago
2024
07-10-2024 GILS Daniel Frans Amelie appointed as director
- GILS Daniel Frans Amelie, Bestuurder
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_in",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "GILS Daniel Frans Amelie",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0810.960.481",
"name_full": "GST"
}
}Credit advice
Company registry (CBE)
Activities
Sawmilling and planing of wood16110Manufacture of furniture31001Joinery installation43320
Names & trade names
| Legal nameNL | GST |
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