GULCO
ActiveGULCO has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €291k and a net result of €-27k. Equity is shrinking by ~9.3% per year across the filed fiscal years. Its solvency ranks better than 67% of 13908 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency98▼-1
Growth52=
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17k at 30 days acceptable
Liquidity ample (current ratio 2.36 against 3.4 in 2024), and 46.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
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
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 2025Solvency, return and age of the figures
Solvency
53.1%
Return on assets
-4.9%
Age of the figures
15 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€27k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
on the day
2022
on the day
2021
86 d late
2020
43 d late
2019
303 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close15-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-27k▲ 25.6%
2024 · €-36k
2019: €110k
2020: €321k
2021: €145k
2022: €-60k
2023: €-44k
2024: €-36k
2019 → 2025
Working capital
€77k▼ 23.8%
2024 · €101k
2019: €101k
2020: €538k
2021: €193k
2022: €151k
2023: €121k
2024: €101k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€463k-€403k▼ 12.9%€359k▼ 11.0%€322k▼ 10.1%€291k▼ 9.8%
Operating result€-78k-€-42k▲ 45.9%€-42k▲ 1.1%€-34k▲ 18.0%€-29k▲ 15.1%
Net result€145k-€-60k€-44k▲ 26.1%€-36k▲ 17.9%€-27k▲ 25.6%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €29k in 2025 against €34k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €548k
Fixed assets
€414k▼ 5.1%
Current assets
€134k▼ 6.6%
Equity and liabilities €548k
Equity
€291k▼ 9.8%
Provisions
€48k▼ 3.1%
Debt
€209k▲ 0.6%
The debt ratio rises from 35.9% to 38.2%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€-4k▼
2024 · €-3k
Cash flow
€-2k▲
2024 · €-5k
Solvency
53.1%▼
2024 · 55.6%
Current ratio
2.36▼
2024 · 3.40
Quick ratio
2.36▼
2024 · 3.40
Debt / equity
0.72▲
2024 · 0.65
ROE
-9.3%▲
2024 · -11.2%
ROA
-4.9%▲
2024 · -6.2%
Interest coverage
-0.81▼
2024 · -0.66
Debt
€209k▲
2024 · €208k
Debt ≤ 1 year
€57k▲
2024 · €42k
Debt > 1 year
€153k▼
2024 · €166k
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€580k€548k▼
Fixed assets21/28€437k€414k▼
Tangible fixed assets22/27€437k€414k▼
Land and buildings22€425k€410k▼
Furniture and vehicles24€12k€4k▼
Current assets29/58€143k€134k▼
Amounts receivable after more than one year29€31k€31k=
Other amounts receivable291€31k€31k=
Amounts receivable within one year40/41€98k€50k▼
Trade receivables40€2k€422▼
Other amounts receivable41€96k€50k▼
Current investments50/53-€40k
Cash at bank and in hand54/58€11k€9k▼
Deferred charges and accrued income490/1€3k€4k▲
Equity and liabilities
Total equity and liabilities10/49€580k€548k▼
Equity10/15€322k€291k▼
Contributions10/11€327k€327k=
Capital10€327k€327k=
Issued capital100€327k€327k=
Reserves13€157k€153k▼
Non-distributable reserves130/1€3k€3k=
Legal reserve130€3k€3k=
Tax-exempt reserves132€147k€143k▼
Distributable reserves133€7k€7k=
Profit (loss) carried forward14€-162k€-189k▼
Provisions and deferred taxes16€49k€48k▼
Deferred taxes168€49k€48k▼
Amounts payable17/49€208k€209k▲
Amounts payable after more than one year17€166k€153k▼
Financial debts170/4€166k€153k▼
Amounts payable within one year42/48€42k€57k▲
Current portion of amounts payable after more than one year42€13k€13k▲
Trade debts44€4k€3k▼
Suppliers440/4€4k€3k▼
Advances received on contracts in progress46€3k-
Taxes, remuneration and social security45€2k€276▼
Taxes450/3€2k€276▼
Other amounts payable47/48€19k€40k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€32k€25k▼
Other operating charges640/8€8k€18k▲
Gross operating margin9900€6k€14k▲
Operating profit (loss)9901€-34k€-29k▲
Financial income75/76B€775€775=
Recurring financial income75€775€775=
Financial charges65/66B€4k€5k▲
Recurring financial charges65€4k€5k▲
Profit (loss) for the period before taxes9903€-38k€-33k▲
Transfer from deferred taxes780€2k€6k▲
Profit (loss) for the period9904€-36k€-27k▲
Transfer from tax-exempt reserves789€5k-
Profit (loss) for the period to be appropriated9905€-32k€-27k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-162k€-189k▼
Profit (loss) brought forward from the previous period14P€-130k€-162k▼
The notes to these accounts (5 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
2026
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Weakest financial yearnet €-60k ▼141%
Net result drops to €-60k, the lowest in the series; recovery starts the following year.
27-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 86 days late
2021
15-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 43 days late
2020
29-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 303 days late
30-06
Financial
Highest result since 2019net €321k ▲191%
Operating result €376k, net result €321k, both a record.
30-06
Financial
Liquidity times 6current ratio 8.80
Current ratio from 1.50 to 8.80; short-term debt falls from €202k to €69k.
30-06
Financial
Equity above €200kEq €475k ▲209%
2 profitable years in a row build equity to €475k.
28-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 483 days late
2019
01-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 366 days late
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 482 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Rixensart · 1 establishment unit since 1991
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.
Avenue Franklin Roosevelt 104/131330 RixensartGround area
2,737 m²
Building footprint
1,638 m²
Volume, LiDAR
1,023 m³
2 parcels, Brussels, Wallonia · tallest building 16.5 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
GULCO SA
since 19912.051.973.533
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25033B0525/00T002 | Wallonia | 2,544 m² | 1 · 1,570 m² | - |
| 21523B0939/00R103 | Brussels | 192 m² | 1 · 69 m² | 16.5 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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LIMBO
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IMMO TOP INVEST
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ROOSE-GEERTS
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Of 11,702 companies in sector 68310 we hold annual accounts for 6,876. 4,964 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded04-03-1991
Fiscal year end30-06
Activities, NACEBEL
68310Real estate agency activities
68311Real estate activities
70311
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
70220Business consulting
74142
77110Renting and leasing of cars and light motor vehicles
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.