GSTD IMMO
ActiveSummary
GSTD IMMO has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €117,978 and a net result of €37,620. Equity is growing by about 42% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €117,978
- Profit
- €37,620
- GUÉRIN StéphaneDirector
- TERRASI AntoninoDirector
Why 93raises riskLiquidity: current ratio 0.16, cash €21,913lowers riskSize: total assets €2.4mNo main activity registeredFigures for financial year 2025 (filed 26-06-2026)Show the evidence
Checked score
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 (no NACE code, small): better than 17% on solvency, 59% on liquidity, 60% on profitability and 91% on growth.
The bankruptcy probability was computed on 26-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average on the deadline day; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Equity above €100,000equity €117,978 ▲46.8%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 17% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 1,603 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 96.1% are still going.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,603 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €232,988 | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €2,592 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €19,095 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €84,126 | €99,213 | €99,213 | €92,361 | €207,886 | €146,137 | €156,173 | ▲ 6.9% |
| Other operating charges640/8 | - | - | - | €2,180 | €2,211 | €3,111 | €3,631 | €3,772 | ▲ 3.9% |
| Gross operating margin9900 | -€11,185 | €91,854 | €112,881 | €200,652 | €213,893 | €223,311 | €246,290 | €272,589 | ▲ 10.7% |
| Operating profit (loss)9901 | -€12,474 | €5,586 | €11,503 | €99,259 | €119,321 | €12,314 | €96,522 | €112,644 | ▲ 16.7% |
| Financial income75/76B | - | - | - | - | - | - | - | €253 | - |
| Recurring financial income75 | €188 | - | - | - | - | - | - | €253 | - |
| Financial charges65/66B | - | - | - | €24,986 | €22,662 | €42,647 | €57,517 | €62,737 | ▲ 9.1% |
| Recurring financial charges65 | €32,222 | €34,518 | €28,125 | €24,986 | €22,662 | €42,647 | €57,517 | €62,737 | ▲ 9.1% |
| Profit (loss) for the period before taxes9903 | -€44,508 | -€28,932 | -€16,622 | €74,273 | €96,659 | -€30,333 | €39,005 | €50,160 | ▲ 28.6% |
| Income taxes67/77 | - | - | - | - | €17,598 | - | €2,418 | €12,540 | ▲ 419% |
| Profit (loss) for the period9904 | -€44,508 | -€28,932 | -€16,622 | €74,273 | €79,061 | -€30,333 | €36,587 | €37,620 | ▲ 2.8% |
| Profit (loss) for the period to be appropriated9905 | -€44,508 | -€28,932 | -€16,622 | €74,273 | €79,061 | -€30,333 | €36,587 | €37,620 | ▲ 2.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.9m | €1.8m | €1.7m | €1.6m | €1.6m | €2.2m | €2.5m | €2.4m | ▼ 3.3% |
| Fixed assets21/28 | €1.8m | €1.8m | €1.7m | €1.6m | €1.5m | €2.2m | €2.5m | €2.4m | ▼ 3.3% |
| Tangible fixed assets22/27 | €1.8m | €1.8m | €1.7m | €1.6m | €1.5m | €2.2m | €2.5m | €2.4m | ▼ 3.3% |
| Land and buildings22 | - | - | - | €1.6m | €1.5m | €2.2m | €2.5m | €2.4m | ▼ 3.3% |
| Assets under construction and advance payments27 | - | - | - | €0.02m | €0.05m | - | - | - | - |
| Current assets29/58 | €0.08m | €0.005m | €0.009m | €0.006m | €0.07m | €0.03m | €0.03m | €0.03m | ▼ 3.0% |
| Amounts receivable within one year40/41 | €0.07m | - | - | - | €0.07m | - | €0.003m | €0.003m | ▲ 1.9% |
| Trade receivables40 | - | - | - | - | - | - | €0.001m | €180 | ▼ 69.0% |
| Other amounts receivable41 | - | - | - | - | €0.07m | - | €0.003m | €0.003m | ▲ 17.8% |
| Current investments50/53 | - | - | - | - | €0.001m | - | - | - | - |
| Cash at bank and in hand54/58 | €0.01m | €0.003m | €0.007m | €0.004m | - | €0.02m | €0.02m | €0.02m | ▼ 4.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.003m | €0.003m | €0.003m | €0.003m | ▲ 2.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.9m | €1.8m | €1.7m | €1.6m | €1.6m | €2.2m | €2.5m | €2.4m | ▼ 3.3% |
| Equity10/15 | -€0.03m | -€0.06m | -€0.08m | -€0.005m | €0.07m | €0.04m | €0.08m | €0.1m | ▲ 46.8% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | -€0.05m | -€0.08m | -€0.1m | -€0.02m | €0.06m | €0.03m | €0.06m | €0.1m | ▲ 60.9% |
| Amounts payable17/49 | €1.9m | €1.8m | €1.8m | €1.6m | €1.5m | €2.2m | €2.5m | €2.3m | ▼ 5.0% |
| Amounts payable after more than one year17 | €1.6m | €1.5m | €1.6m | €1.5m | €1.4m | €2.1m | €2.3m | €2.1m | ▼ 5.9% |
| Financial debts170/4 | - | - | - | €1.1m | €0.9m | €1.5m | €1.7m | €1.5m | ▼ 10.3% |
| Other amounts payable178/9 | - | - | - | €0.4m | €0.5m | €0.6m | €0.6m | €0.6m | ▲ 7.2% |
| Amounts payable within one year42/48 | €0.3m | €0.4m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 3.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 3.0% |
| Trade debts44 | €0.02m | €0.003m | €0.001m | €0.001m | €0.003m | €0.004m | €0.002m | €123 | ▼ 93.8% |
| Suppliers440/4 | - | - | - | €0.001m | €0.003m | €0.004m | €0.002m | €123 | ▼ 93.8% |
| Taxes, remuneration and social security45 | - | - | - | - | €0.004m | €0.004m | - | €0.003m | - |
| Taxes450/3 | - | - | - | - | €0.004m | €0.004m | - | €0.003m | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.001m | €0.02m | €0.03m | ▲ 22.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€44,508 | -€28,932 | -€16,622 | €74,273 | €79,061 | -€30,333 | €36,587 | €37,620 | ▲ 2.8% |
| + Depreciation and write-downs630 | - | €84,126 | €99,213 | €99,213 | €92,361 | €207,886 | €146,137 | €156,173 | ▲ 6.9% |
| Operating cash flow (approximation) | -€44,508 | €55,194 | €82,591 | €173,486 | €171,422 | €177,553 | €182,724 | €193,793 | ▲ 6.1% |
| Investment in fixed assets (approximation) | - | -€46,352 | -€3,363 | -€24,200 | -€24,200 | -€901,447 | -€435,547 | -€72,579 | ▲ 83.3% |
| Change in cash | - | -€8,750 | €4,511 | -€3,610 | - | - | -€1,386 | -€1,008 | ▲ 27.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 26-06-2026 | 2026-00229165 |
| 31-12-2024 | micro format | 25-08-2025 | 2025-00400749 |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00412911 |
| 31-12-2022 | micro format | 17-07-2023 | 2023-00263892 |
| 31-12-2021 | micro format | 05-07-2022 | 2022-20151700 |
| 31-12-2020 | micro format | 14-07-2021 | 2021-35100257 |
| 31-12-2019 | micro format | 09-09-2020 | 2020-52700167 |
| 31-12-2018 | micro format | 27-08-2019 | 2019-51700482 |
| 31-12-2017 | micro format | 28-08-2018 | 2018-52500391 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| GUÉRIN Stéphane |
|
| TERRASI Antonino |
|
Owners and capital
Capital and shareholders
- DUMONT Julien, Jean, Patrick 25 shares
- GÉRIN Stéphane 25 shares
- SCORY Philippe 25 shares
- TERRASI Antonino 25 shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 15-01-2024 Converted to unavailable equity · €18,600
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
History
Acts, filings and financial milestones
15-01
Gazette deed
Appointments: GUÉRIN Stéphane (administrateur non statutaire) and TERRASI Antonino (administrateur non statutaire)Resignations: GUÉRIN Stéphane (director) and TERRASI Antonino (director) · Shareholding · Capital18 facts ▸
- General meeting, 27-12-2023
- Shareholding, 25 (4 times)
- Other provision, “état civil et cohabitation légale, célibataire” (deed in French)
- Other provision, “état civil, marié” (deed in French) (2 times)
- Other provision, “état civil et cohabitation légale, divorcé” (deed in French)
- Capital
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Other provision, “article par article, adoption quatrieme resolution” (deed in French)
- Other provision, “unanimite, dossier societe” (deed in French)
- Registered office clause, “rue de la Brasserie”, 31, “unanimite” (deed in French)
- Director appointment, GUÉRIN Stéphane (administrateur non statutaire)
- +6 further facts in this act
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 27 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 57071A0758/00E000 | Wallonia | 3,739 m² | 1 · 236 m² | 10.7 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “D’investissements immobiliers pour équipements communautaires et services au public à vocation sociale; La prise de participation directe ou…” (deed in French)
10 activities (deed in French)
- D’investissements immobiliers pour équipements communautaires et services au public à vocation sociale.
- La prise de participation directe ou indirecte dans toutes affaires, entreprises (commerciales, industrielles, financières, mobilières et immobilières) ou sociétés; la détention de titres représentatifs du capital desdites affaires, entreprises ou sociétés, ou de tous droits de souscription, d’options, de warrants, etc... L’investissement, la souscription, la prise ferme, le placement, la vente, l’achat et la négociation d’actions, parts, obligations, certificats, crédits, monnaies et autres valeurs mobilières émises par des entreprises belges ou étrangères, qu’elles aient ou non la forme de sociétés commerciales, bureau d’administration, institutions ou associations et qu’elles aient ou non un statut juridique (semi-) public.
- Toute gestion, management, participation, assistance ou prise d’intérêts directs ou indirects dans des sociétés, entreprises, groupements, associations existantes ou encore à créer, de quelque forme ou objet que ce soit. La société peut prendre le pouvoir, exercer des fonctions d’administration, exercer un droit de regard et de contrôle sur toutes les sociétés liées, avec lesquelles l’un ou l’autre lien de participation existe, fournir des conseils et autres services de même nature que les activités de la société - lesquels services peuvent être fournis sur une base contractuelle ou statutaire et en la qualité de conseiller externe ou d’organe -. Elle peut accorder à ces sociétés tous les prêts et avances sous quelle forme et quelle durée que ce soit. La société peut également garantir tous les engagements des mêmes sociétés.
- La gestion d’un patrimoine immobilier et la location-financement de biens immeubles ainsi que toutes opérations qui, directement ou indirectement, sont en relation avec son objet et qui sont de nature à favoriser l’accroissement d’un patrimoine immobilier propre, tels que l’achat de biens immobiliers, la vente, la promotion, l’exploitation, l’entretien, le développement, l’administration, l’embellissement et la location de ces biens ainsi que la possibilité de se porter fort pour la bonne fin d’engagements pris par des tiers qui auraient la jouissance de ces biens immobiliers.
- L’achat, l’administration, la vente de toutes valeurs financières et boursières ainsi que de biens mobiliers, la prise de participation dans toutes sociétés belges ou étrangères et d’une manière plus générale toutes opérations de gestion du patrimoine mobilier ainsi constitué.
- Toutes activités de conseils en matière de gestion, de marketing, d’organisation financière, administrative ou autre, et de ressources humaines, à l’exclusion des activités réglementées par la loi du 4 décembre 1990 sur la gestion de fortune.
- La prestation de tous services dans le cadre de son objet.
- Toutes opérations relevant du commerce et de l’investissement immobiliers; la promotion immobilière; la prise de participations dans des investissements immobiliers.
- L’activité de marchand de biens; l’achat, l’échange, la vente, la prise en gage, la prise en location et en sous-location, ainsi que la cession en location et en sous-location, le tout avec ou sans option d’achat, l’exploitation et l’entretien de maisons, appartements, bureaux, magasins, fonds de commerce, terrains, terres et domaines, et de manière générale, de tous biens immobiliers, ainsi que toutes opérations de financement; les conseils et études en la matière. Elle pourra ériger toutes constructions pour son compte ou pour compte de tiers, en tant que maître de l’ouvrage ou entrepreneur général, et effectuer, éventuellement aux biens immobiliers, des transformations et mises en valeur ainsi que l’étude et l’aménagement de lotissements y compris la construction de routes et égouts; souscrire des engagements en tant que conseiller en construction (étude de génie civil et des divers équipements techniques des immeubles); acheter tous matériaux, signer tous contrats d’entreprises qui seraient nécessaires; réaliser toutes opérations de change, commission et courtage, ainsi que la gérance d’immeubles. Elle pourra exploiter tous entrepôts et magasins, acquérir, louer tous terrains, immeubles ou installations, transformer lesdits immeubles pour faciliter la réalisation de son objet.
- La société peut également, pour compte propre, acheter, assurer la mise en valeur, la gestion, la location et la sous-location d’immeubles bâtis ou non bâtis et notamment leur entretien, leur construction, leur réparation, leur transformation, leur aménagement, leur restauration, leur démolition ainsi que tous travaux de promotion et de réalisation immobilière. Elle peut s’intéresser par toutes voies dans toutes affaires, entreprises ou sociétés ayant en tout ou en partie un objet identique, analogue ou connexe au sien, ou qui sont de nature à favoriser le développement de son entreprise, et notamment exercer un mandat d’administrateur dans d’autres sociétés.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- GSTD IMMO
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, Article 2” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d'administration, 1” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Montant prix de cession ou d'adjudication, proportionnellement actions possédées sauf accord différent” (deed in French)“Montant du prix de cession ou d'adjudication, tous cas cession entre vifs à titre onéreux même vente publique volontaire ou ordonnée par…” (deed in French)“Donation entre vifs à personne autre que visées alinéa précédent, fixée par expert commun accord ou défaut président tribunal de…” (deed in French)“Mise en gage des actions, tout gage nantissement ou autres sûretés sur actions” (deed in French)“Cause incontestable d'exclusion de l'actionnaire cédant, sanction violation cession” (deed in French)“Transfert titres nominatifs, organe d'administration peut reconnaître et inscrire sur pièces établissant accord” (deed in French)“Cession action non libérée, cédant payé peut recourir contre cessionnaire et tout cessionnaire ultérieur” (deed in French)
- Share issue ruleHow and by whom new shares can be issued.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of June at 19:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Modifications statuts, dissolution” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Administrateurs en fonction comme liquidateurs, si aucun autre designe” (deed in French)1 more provision on this in the deed