GTS
ActiveSummary
The computed 12-month bankruptcy probability of GTS is 5.7% (elevated). The 2024 annual accounts show negative equity (€-11k) and a net result of €-7k. Equity is shrinking by ~64.4% per year across the filed fiscal years. Its solvency ranks better than 8% of 6720 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-19
Solvency0▼-11
Growth32=
Track record100
Bankruptcy probability, 12 months
5.7%
Elevated
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.52 against 0.51 in 2023; short-term debt: 147.6% and cash: 1.7% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · 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 2024Solvency, return and age of the figures
Solvency
-47.6%
Return on assets
-32.6%
Age of the figures
21 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
2021222324
2020 to 2024 · latest year €-11k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-08-2025, 25 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
25 d late
2023
4 d early
2022
30 d late
2021
19 d early
2020
25 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-11k▼ 216%
2023 · €-3k
2020: €8khighest in 5 years
2021: €-6k▼ -174% vs 2020
2022: €705▲ +111% vs 2021
2023: €-3k▼ -572% vs 2022
2024: €-11k▼ -216% vs 2023lowest in 5 years
2020 → 2024
Total assets
€22k▼ 5.2%
2023 · €23k
2020: €76khighest in 5 years
2021: €41k▼ -45.5% vs 2020
2022: €38k▼ -7.4% vs 2021
2023: €23k▼ -39.1% vs 2022
2024: €22k▼ -5.2% vs 2023lowest in 5 years
2020 → 2024
Net result
€-7k▼ 78.2%
2023 · €-4k
2020: €5k
2021: €-14k▼ -372% vs 2020lowest in 5 years
2022: €7k▲ +147% vs 2021highest in 5 years
2023: €-4k▼ -159% vs 2022
2024: €-7k▼ -78.2% vs 2023
2020 → 2024
Working capital
€-16k▼ 20.3%
2023 · €-13k
2020: €-13khighest in 5 years
2021: €-19k▼ -48.3% vs 2020lowest in 5 years
2022: €-15k▲ +18.5% vs 2021
2023: €-13k▲ +14.4% vs 2022
2024: €-16k▼ -20.3% vs 2023
2020 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€8k-€-6k€705€-3k€-11k▼ 216%
2020: €8khighest in 5 years
2021: €-6k▼ -174% vs 2020
2022: €705▲ +111% vs 2021
2023: €-3k▼ -572% vs 2022
2024: €-11k▼ -216% vs 2023lowest in 5 years
Operating result€8k-€-13k€9k€-2k€-7k▼ 197%
2020: €8k
2021: €-13k▼ -263% vs 2020lowest in 5 years
2022: €9k▲ +168% vs 2021highest in 5 years
2023: €-2k▼ -125% vs 2022
2024: €-7k▼ -197% vs 2023
Net result€5k-€-14k€7k€-4k€-7k▼ 78.2%
2020: €5k
2021: €-14k▼ -372% vs 2020lowest in 5 years
2022: €7k▲ +147% vs 2021highest in 5 years
2023: €-4k▼ -159% vs 2022
2024: €-7k▼ -78.2% vs 2023
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7k in 2024 against €2k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €22k
Fixed assets
€5k ▼ 46.8%
Current assets
€17k ▲ 24.6%
Key figures and ratios
EBITDA
€-2k▼
2023 · €5k
Cash flow
€-2k▼
2023 · €3k
Solvency
-47.6%▼
2023 · -14.3%
Current ratio
0.52▲
2023 · 0.51
Debt to equity
-3.10▲
2023 · -7.99
ROA
-32.6%▼
2023 · -17.3%
Interest coverage
-2.55▼
2023 · 2.30
Debt
€33k▲
2023 · €27k
Debt ≤ 1 year
€33k▲
2023 · €27k
Income taxes
€193▲
2023 · €-233
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 41 lines
Balance sheet
Code20232024
Assets
Total assets20/58€23k€22k▼
Fixed assets21/28€10k€5k▼
Tangible fixed assets22/27€10k€151▼
Furniture and vehicles24€10k€151▼
Financial fixed assets28-€5k
Current assets29/58€14k€17k▲
Amounts receivable within one year40/41€11k€17k▲
Trade receivables40€9k€8k▼
Other amounts receivable41€2k€9k▲
Cash at bank and in hand54/58€3k€372▼
Deferred charges and accrued income490/1€0-
Equity and liabilities
Total equity and liabilities10/49€23k€22k▼
Equity10/15€-3k€-11k▼
Contributions10/11€3k€3k=
Reserves13€5k€5k=
Distributable reserves133€5k€5k=
Profit (loss) carried forward14€-11k€-19k▼
Amounts payable17/49€27k€33k▲
Amounts payable after more than one year17€0-
Financial debts170/4€0-
Amounts payable within one year42/48€27k€33k▲
Current portion of amounts payable after more than one year42€723€0▼
Trade debts44€21k€31k▲
Suppliers440/4€21k€31k▲
Taxes, remuneration and social security45€5k€2k▼
Taxes450/3€3k€2k▼
Remuneration and social security454/9€2k€0▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€5k▼
Other operating charges640/8€608€8k▲
Gross operating margin9900€5k€6k▲
Operating profit (loss)9901€-2k€-7k▼
Financial income75/76B€9€325▲
Recurring financial income75€9€325▲
Financial charges65/66B€2k€734▼
Recurring financial charges65€2k€734▼
Profit (loss) for the period before taxes9903€-4k€-7k▼
Income taxes67/77€-233€193▲
Profit (loss) for the period9904€-4k€-7k▼
Profit (loss) for the period to be appropriated9905€-4k€-7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-11k€-19k▼
Profit (loss) brought forward from the previous period14P€-7k€-11k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €168 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €5k | €7k | €7k | €5k | ▼ 32.2% |
| Other operating charges640/8 | - | €8k | €1k | €608 | €8k | ▲ 1,198% |
| Non-recurring operating charges66A | - | €5k | €0 | - | - | - |
| Gross operating margin9900 | €22k | €4k | €17k | €5k | €6k | ▲ 12.7% |
| Operating profit (loss)9901 | €8k | €-13k | €9k | €-2k | €-7k | ▼ 197% |
| Financial income75/76B | - | - | - | €9 | €325 | ▲ 3,469% |
| Recurring financial income75 | - | - | - | €9 | €325 | ▲ 3,469% |
| Financial charges65/66B | - | €1k | €2k | €2k | €734 | ▼ 64.3% |
| Recurring financial charges65 | €934 | €1k | €2k | €2k | €734 | ▼ 64.3% |
| Profit (loss) for the period before taxes9903 | €7k | €-14k | €7k | €-4k | €-7k | ▼ 63.9% |
| Income taxes67/77 | €2k | €436 | €204 | €-233 | €193 | ▲ 183% |
| Profit (loss) for the period9904 | €5k | €-14k | €7k | €-4k | €-7k | ▼ 78.2% |
| Profit (loss) for the period to be appropriated9905 | €5k | €-14k | €7k | €-4k | €-7k | ▼ 78.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €76k | €41k | €38k | €23k | €22k | ▼ 5.2% |
| Fixed assets21/28 | €48k | €19k | €17k | €10k | €5k | ▼ 46.8% |
| Tangible fixed assets22/27 | €48k | €19k | €17k | €10k | €151 | ▼ 98.4% |
| Furniture and vehicles24 | - | €19k | €17k | €10k | €151 | ▼ 98.4% |
| Financial fixed assets28 | - | - | - | - | €5k | - |
| Current assets29/58 | €28k | €22k | €22k | €14k | €17k | ▲ 24.6% |
| Amounts receivable within one year40/41 | €25k | €21k | €14k | €11k | €17k | ▲ 56.4% |
| Trade receivables40 | - | €21k | €14k | €9k | €8k | ▼ 13.5% |
| Other amounts receivable41 | - | - | €98 | €2k | €9k | ▲ 401% |
| Cash at bank and in hand54/58 | €443 | €1k | €7k | €3k | €372 | ▼ 87.6% |
| Deferred charges and accrued income490/1 | - | - | €999 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €76k | €41k | €38k | €23k | €22k | ▼ 5.2% |
| Equity10/15 | €8k | €-6k | €705 | €-3k | €-11k | ▼ 216% |
| Contributions10/11 | - | €3k | €3k | €3k | €3k | = |
| Reserves13 | €5k | €5k | €5k | €5k | €5k | = |
| Distributable reserves133 | - | €5k | €5k | €5k | €5k | = |
| Profit (loss) carried forward14 | €308 | €-14k | €-7k | €-11k | €-19k | ▼ 63.4% |
| Amounts payable17/49 | €67k | €47k | €37k | €27k | €33k | ▲ 22.5% |
| Amounts payable after more than one year17 | €27k | €6k | €723 | €0 | - | - |
| Financial debts170/4 | - | €6k | €723 | €0 | - | - |
| Amounts payable within one year42/48 | €40k | €41k | €37k | €27k | €33k | ▲ 22.5% |
| Current portion of amounts payable after more than one year42 | - | - | €3k | €723 | €0 | ▼ 100% |
| Trade debts44 | €28k | €30k | €23k | €21k | €31k | ▲ 48.1% |
| Suppliers440/4 | - | €30k | €23k | €21k | €31k | ▲ 48.1% |
| Taxes, remuneration and social security45 | - | €9k | €11k | €5k | €2k | ▼ 63.1% |
| Taxes450/3 | - | €9k | €9k | €3k | €2k | ▼ 34.6% |
| Remuneration and social security454/9 | - | €58 | €2k | €2k | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €2k | €0 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5k | €-14k | €7k | €-4k | €-7k | ▼ 78.2% |
| + Depreciation and write-downs630 | €7k | €5k | €7k | €7k | €5k | ▼ 32.2% |
| Operating cash flow (approximation) | €13k | €-10k | €14k | €3k | €-2k | ▼ 185% |
| Investment in fixed assets (approximation) | - | €24k | €-5k | €0 | €-176 | - |
| Change in cash | - | €987 | €5k | €-4k | €-3k | ▲ 31.4% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
27-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-14k
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
06-07
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.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 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, Turnhout · 1 establishment unit since 2020
Ground area
435 m²
Building footprint
130 m²
Volume, LiDAR
763 m³
Parcel 13040C1763/00D002, Flanders · tallest building 9.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GTS
since 20202.298.843.778
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13040C1763/00D002 | Flanders | 435 m² | 1 · 130 m² | 9.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,590 companies in sector 49410 we hold annual accounts for 8,199. 594 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-01-2020
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
Scores and ratios are computed by Checked and are not a credit decision.