GSW Technics

Active

Private limited companyfounded 20196 yrs activeHeuveneindeweg 74, 3520 Zonhoven, BelgiumKBO/BCE: BE 0735.824.380

The computed 12-month bankruptcy probability of GSW Technics is 2.4% (moderate). The 2024 annual accounts show equity of €14k and a net result of €17k. Equity is shrinking by ~33.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 40% of 36376 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

89 / 100

Excellent▲ +82 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100=

Solvency59▲+26

Growth32=

Stability100

Bankruptcy probability, 12 months

2.4% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €1k at 30 days acceptable

Liquidity tight (current ratio 1.01 against 0.1 in 2023), and 62% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

38%

Return on assets

47.7%

Age of the figures

20 mo

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-04-2025, 100 days ahead of the deadline.

NBB · 5 filings

Deviation from the deadline

2025

not confirmed

2024

100 d early

2023

65 d late

2022

32 d late

2021

25 d early

2020

5 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€14k

2023 · €-3k

2020: €23k 2021: €21k 2022: €10k 2023: €-3k

2020 → 2024

Total assets

€36k▲ 438%

2023 · €7k

2020: €52k 2021: €47k 2022: €42k 2023: €7k

2020 → 2024

Net result

€17k

2023 · €-14k

2020: €20k 2021: €-2k 2022: €-11k 2023: €-14k

2020 → 2024

Working capital

€209

2023 · €-9k

2020: €13k 2021: €5k 2022: €-311 2023: €-9k

2020 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€23k-€21k▼ 8.8%€10k▼ 51.6%€-3k€14k

Operating result€24k-€3k▼ 88.8%€-1k€-12k▼ 878%€20k

Net result€20k-€-2k€-11k▼ 438%€-14k▼ 25.3%€17k

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result returns to profit in 2024: €20k after a loss of €12k in 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €36k

37.4%

62.6%

Fixed assets €13k▲ 139%

Current assets €22k▲ 2,045%

Equity and liabilities €36k

38.0%

62.0%

Equity €14k

Debt €22k

Debt finances 62.0% of the balance-sheet total.

Key figures and ratios

2024 value · change against 2023

EBITDA

€24k▲

2023 · €-7k

Cash flow

€21k▲

2023 · €-9k

Solvency

38.0%▲

2023 · -52.3%

Current ratio

1.01▲

2023 · 0.10

Quick ratio

1.01▲

2023 · 0.10

Debt / equity

1.63▲

2023 · -2.91

ROE

125.6%▼

2023 · 396.0%

ROA

47.7%▲

2023 · -207.1%

Interest coverage

253.26▲

2023 · -4.06

Debt

€22k▲

2023 · €10k

Debt ≤ 1 year

€22k▲

2023 · €10k

Income taxes

€3k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€7k€36k▲

Fixed assets21/28€6k€13k▲

Tangible fixed assets22/27€6k€13k▲

Plant, machinery and equipment23€5k€2k▼

Furniture and vehicles24€927€12k▲

Current assets29/58€1k€22k▲

Amounts receivable within one year40/41€1k€20k▲

Trade receivables40-€10k

Other amounts receivable41€1k€10k▲

Cash at bank and in hand54/58-€2k

Deferred charges and accrued income490/1-€998

Equity and liabilities

Total equity and liabilities10/49€7k€36k▲

Equity10/15€-3k€14k▲

Contributions10/11€3k€3k=

Reserves13€20k€20k=

Distributable reserves133€20k€20k=

Profit (loss) carried forward14€-27k€-10k▲

Amounts payable17/49€10k€22k▲

Amounts payable within one year42/48€10k€22k▲

Trade debts44-€18k

Suppliers440/4-€18k

Taxes, remuneration and social security45€2k€4k▲

Taxes450/3€2k€4k▲

Other amounts payable47/48€8k-

Income statement Code20232024

Remuneration, social security and pensions62€860-

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€4k▼

Other operating charges640/8€238€580▲

Gross operating margin9900€-6k€25k▲

Operating profit (loss)9901€-12k€20k▲

Financial income75/76B-€142

Recurring financial income75-€142

Financial charges65/66B€2k€95▼

Recurring financial charges65€2k€95▼

Profit (loss) for the period before taxes9903€-14k€20k▲

Income taxes67/77-€3k

Profit (loss) for the period9904€-14k€17k▲

Profit (loss) for the period to be appropriated9905€-14k€17k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-27k€-10k▲

Profit (loss) brought forward from the previous period14P€-13k€-27k▼

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 8Financial 3Filings 5

2025

22-04

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

31-12

Financial Back to profitnet €17k

Net result €17k after 3 loss-making years.

31-12

Financial Liquidity times 10current ratio 1.01

Current ratio from 0.10 to 1.01.

04-10

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 65 days late

2023

31-12

Financial Weakest financial yearnet €-14k

Net result drops to €-14k, the lowest in the series; recovery starts the following year.

01-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 32 days late

2022

06-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

26-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2023

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

31-01-2023 Resigned as Director

Location & real-estate footprint

Registered office, Zonhoven · 1 establishment unit since 2019

establishment The establishment unit on the map

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.

Heuveneindeweg 743520 Zonhoven

Ground area

1,350 m²

Building footprint

132 m²

Volume, LiDAR