GULLIVER
ActiveSummary
GULLIVER has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €534k and a net result of €33k. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 85% of 4178 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability56▼-22
Solvency98▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 3.67 against 3.39 in 2024; short-term debt: 26.5% and cash: 52.2% of total assets), and 26.5% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
73.5%
Return on assets
4.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 d early
2024
29 d early
2023
30 d late
2022
33 d early
2021
31 d late
2020
3 d early
2019
31 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Accepting this client? The AML file with identity, beneficial owners and sanctions lists.AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed Is this a good employer? Staff, turnover and training against the sector.Employer check
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€33k▼ 37.8%
2024 · €54k
Working capital
€515k▲ 11.8%
2024 · €461k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€105k▲ 3,377%€112k▲ 6.3%€48k▼ 57.0%€65k▲ 35.1%€44k▼ 32.0%
Net result€85k▲ 1,085%€85k▲ 0.1%€41k▼ 51.3%€54k▲ 30.8%€33k▼ 37.8%
Equity€420k▲ 23.3%€505k▲ 20.1%€537k▲ 6.2%€500k▼ 6.7%€534k▲ 6.7%
Total assets€474k▲ 18.7%€613k▲ 29.5%€660k▲ 7.7%€703k▲ 6.5%€727k▲ 3.3%
Debt€53k▼ 8.4%€108k▲ 104%€124k▲ 14.6%€203k▲ 63.8%€193k▼ 5.0%
Working capital€403k▲ 27.1%€489k▲ 21.5%€492k▲ 0.5%€461k▼ 6.4%€515k▲ 11.8%
Staff (FTE)1=1=1=2▲ 100%2.2▲ 10.0%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 32% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €727k
Fixed assets
€19k ▼ 62.6%
Current assets
€708k ▲ 8.3%
Equity and liabilities €727k
Equity
€534k ▲ 6.7%
Debt
€193k ▼ 5.0%
Debt's share of the balance-sheet total falls from 28.9% to 26.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€46k▼
2024 · €79k
Cash flow
€36k▼
2024 · €68k
Current ratio
3.67▲
2024 · 3.39
Quick ratio
2.50▲
2024 · 2.16
Debt to equity
0.36▼
2024 · 0.41
ROE
6.3%▼
2024 · 10.8%
ROA
4.6%▼
2024 · 7.7%
Interest coverage
3.80▼
2024 · 19.25
Debt ≤ 1 year
€193k▼
2024 · €193k
Debt > 1 year
€0▼
2024 · €10k
Income taxes
€15k▼
2024 · €22k
Staff costs
€99k▲
2024 · €90k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €39k | €46k | €48k | €90k | €99k | ▲ 10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €10k | €19k | €14k | €2k | ▼ 84.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €-1k | €-5k | €10k | €-12k | €-12k | ▼ 1.0% |
| Other operating charges640/8 | €2k | €1k | €4k | €892 | €864 | ▼ 3.2% |
| Non-recurring operating charges66A | - | - | - | - | €8k | - |
| Gross operating margin9900 | €154k | €165k | €129k | €157k | €141k | ▼ 10.1% |
| Operating profit (loss)9901 | €105k | €112k | €48k | €65k | €44k | ▼ 32.0% |
| Financial income75/76B | €7k | €12k | €14k | €14k | €17k | ▲ 16.3% |
| Recurring financial income75 | €7k | €12k | €14k | €14k | €17k | ▲ 16.3% |
| Financial charges65/66B | €3k | €3k | €4k | €4k | €12k | ▲ 198% |
| Recurring financial charges65 | €3k | €3k | €4k | €4k | €12k | ▲ 198% |
| Profit (loss) for the period before taxes9903 | €109k | €121k | €58k | €75k | €49k | ▼ 35.2% |
| Income taxes67/77 | €24k | €36k | €17k | €22k | €15k | ▼ 28.8% |
| Profit (loss) for the period9904 | €85k | €85k | €41k | €54k | €33k | ▼ 37.8% |
| Profit (loss) for the period to be appropriated9905 | €85k | €85k | €41k | €54k | €33k | ▼ 37.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €474k | €613k | €660k | €703k | €727k | ▲ 3.3% |
| Fixed assets21/28 | €18k | €22k | €62k | €50k | €19k | ▼ 62.6% |
| Tangible fixed assets22/27 | €18k | €21k | €61k | €49k | €18k | ▼ 63.5% |
| Furniture and vehicles24 | €18k | €10k | €51k | €40k | €3k | ▼ 93.5% |
| Other tangible fixed assets26 | - | €12k | €10k | €9k | €15k | ▲ 68.9% |
| Financial fixed assets28 | €674 | €674 | €674 | €674 | €674 | = |
| Current assets29/58 | €455k | €591k | €598k | €654k | €708k | ▲ 8.3% |
| Stocks and contracts in progress3 | €197k | €173k | €229k | €237k | €227k | ▼ 4.4% |
| Stocks30/36 | €197k | €173k | €229k | €237k | €227k | ▼ 4.4% |
| Amounts receivable within one year40/41 | €11k | €11k | €8k | €11k | €1k | ▼ 90.2% |
| Trade receivables40 | €6k | €11k | €8k | €11k | €724 | ▼ 93.4% |
| Other amounts receivable41 | €5k | €37 | - | - | €345 | - |
| Current investments50/53 | €180k | €350k | €318k | €98k | €98k | ▼ 0.4% |
| Cash at bank and in hand54/58 | €67k | €54k | €40k | €303k | €380k | ▲ 25.1% |
| Deferred charges and accrued income490/1 | - | €4k | €4k | €4k | €4k | ▼ 18.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €474k | €613k | €660k | €703k | €727k | ▲ 3.3% |
| Equity10/15 | €420k | €505k | €537k | €500k | €534k | ▲ 6.7% |
| Contributions10/11 | €152k | €152k | €152k | €62k | €62k | = |
| Capital10 | €152k | €152k | €152k | - | - | - |
| Issued capital100 | €152k | €152k | €152k | - | - | - |
| Reserves13 | €268k | €353k | €385k | €438k | €472k | ▲ 7.6% |
| Non-distributable reserves130/1 | €13k | €15k | €113k | €98k | €98k | = |
| Legal reserve130 | €13k | €15k | €15k | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0 | - | - |
| Own shares acquired1312 | - | - | €98k | €98k | €98k | = |
| Distributable reserves133 | €255k | €338k | €272k | €341k | €374k | ▲ 9.8% |
| Amounts payable17/49 | €53k | €108k | €124k | €203k | €193k | ▼ 5.0% |
| Amounts payable after more than one year17 | - | - | €18k | €10k | €0 | ▼ 100% |
| Financial debts170/4 | - | - | €18k | €10k | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €52k | €102k | €106k | €193k | €193k | ▼ 0.1% |
| Current portion of amounts payable after more than one year42 | €3k | €4k | €11k | €11k | €4k | ▼ 66.5% |
| Trade debts44 | €15k | €19k | €29k | €27k | €35k | ▲ 32.5% |
| Suppliers440/4 | €15k | €19k | €29k | €27k | €35k | ▲ 32.5% |
| Taxes, remuneration and social security45 | €28k | €79k | €65k | €66k | €59k | ▼ 10.6% |
| Taxes450/3 | €23k | €72k | €58k | €55k | €47k | ▼ 15.4% |
| Remuneration and social security454/9 | €5k | €7k | €7k | €11k | €12k | ▲ 13.5% |
| Other amounts payable47/48 | €6k | €120 | €1k | €89k | €95k | ▲ 6.6% |
| Accrued charges and deferred income492/3 | €750 | €7k | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €85k | €85k | €41k | €54k | €33k | ▼ 37.8% |
| + Depreciation and write-downs630 | €9k | €10k | €19k | €14k | €2k | ▼ 84.0% |
| Operating cash flow (approximation) | €94k | €95k | €60k | €68k | €36k | ▼ 47.3% |
| Investment in fixed assets (approximation) | - | €-14k | €-59k | €-2k | €29k | ▲ 2,020% |
| Change in cash | - | €-13k | €-14k | €264k | €76k | ▼ 71.2% |
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
Next filing, fiscal year 2026, expected by
2026
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €85k ▲0.1%
Operating result €112k, net result €85k, both a record.
31-12
Financial
Equity above €500kEq €505k ▲20.1%
3 profitable years in a row build equity to €505k.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
30-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €-16k
Net result drops to €-16k, the lowest in the series; recovery starts the following year.
07-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 7 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Brussel · 1 establishment unit since 1994
Ground area
590 m²
Building footprint
546 m²
Volume, LiDAR
12,835 m³
2 parcels, Brussels · tallest building 29.2 m, ±9 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
GULLIVER SA
since 19942.065.499.687
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0090/00H002 | Brussels | 456 m² | 1 · 385 m² | 29.1 m · 9 fl. |
| 21807G0088/00W002 | Brussels | 134 m² | 1 · 161 m² | 20.8 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
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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Of 6,498 companies in sector 47716 we hold annual accounts for 2,439. 1,422 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
Founded14-01-1994
Fiscal year end31-12
Activities, NACEBEL 2025
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
Scores and ratios are computed by Checked and are not a credit decision.