GUSA
ActiveSummary
GUSA has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €343k and a net result of €-1k. Equity is shrinking by ~9.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+4
Solvency60▲+2
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23k at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.01 in 2024; short-term debt: 20% and cash: 0.1% of total assets), and 65.4% of the assets are financed with debt.
Credit check for your own amount and term
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-1k
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
3 d early
2023
15 d early
2022
9 d late
2021
19 d late
2020
4 d early
2019
9 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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€343k▼ 0.3%
2024 · €344k
2018: €287klowest in 8 years
2019: €574k▲ +100% vs 2018highest in 8 years
2020: €556k▼ -3.1% vs 2019
2021: €507k▼ -8.7% vs 2020
2022: €457k▼ -10.0% vs 2021
2023: €373k▼ -18.2% vs 2022
2024: €344k▼ -7.8% vs 2023
2025: €343k▼ -0.3% vs 2024
2018 → 2025
Total assets
€994k▼ 4.7%
2024 · €1.04M
2018: €677klowest in 8 years
2019: €1.03M▲ +52.0% vs 2018
2020: €1.63M▲ +58.2% vs 2019highest in 8 years
2021: €1.53M▼ -5.8% vs 2020
2022: €1.41M▼ -8.3% vs 2021
2023: €1.11M▼ -21.1% vs 2022
2024: €1.04M▼ -5.9% vs 2023
2025: €994k▼ -4.7% vs 2024
2018 → 2025
Net result
€-1k▲ 96.5%
2024 · €-29k
2018: €-24k
2019: €287k▲ +1278% vs 2018highest in 8 years
2020: €-18k▼ -106% vs 2019
2021: €-49k▼ -171% vs 2020
2022: €-50k▼ -3.9% vs 2021
2023: €-83k▼ -64.9% vs 2022lowest in 8 years
2024: €-29k▲ +65.2% vs 2023
2025: €-1k▲ +96.5% vs 2024
2018 → 2025
Working capital
€-197k▲ 11.8%
2024 · €-224k
2018: €-274klowest in 8 years
2019: €229k▲ +184% vs 2018highest in 8 years
2020: €109k▼ -52.5% vs 2019
2021: €97k▼ -11.3% vs 2020
2022: €81k▼ -15.8% vs 2021
2023: €-230k▼ -383% vs 2022
2024: €-224k▲ +2.7% vs 2023
2025: €-197k▲ +11.8% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€507k-€457k▼ 10.0%€373k▼ 18.2%€344k▼ 7.8%€343k▼ 0.3%
2021: €507khighest in 5 years
2022: €457k▼ -10.0% vs 2021
2023: €373k▼ -18.2% vs 2022
2024: €344k▼ -7.8% vs 2023
2025: €343k▼ -0.3% vs 2024lowest in 5 years
Operating result€-54k-€-44k▲ 19.4%€-60k▼ 37.6%€-28k▲ 53.0%€-662▲ 97.7%
2021: €-54k
2022: €-44k▲ +19.4% vs 2021
2023: €-60k▼ -37.6% vs 2022lowest in 5 years
2024: €-28k▲ +53.0% vs 2023
2025: €-662▲ +97.7% vs 2024highest in 5 years
Net result€-49k-€-50k▼ 3.9%€-83k▼ 64.9%€-29k▲ 65.2%€-1k▲ 96.5%
2021: €-49k
2022: €-50k▼ -3.9% vs 2021
2023: €-83k▼ -64.9% vs 2022lowest in 5 years
2024: €-29k▲ +65.2% vs 2023
2025: €-1k▲ +96.5% vs 2024highest in 5 years
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 €662 in 2025 against €28k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €994k
Fixed assets
€992k ▼ 4.8%
Current assets
€2k ▲ 48.3%
Equity and liabilities €994k
Equity
€343k ▼ 0.3%
Provisions
€92k ▼ 3.9%
Debt
€559k ▼ 7.4%
Debt's share of the balance-sheet total falls from 57.8% to 56.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€50k▲
2024 · €32k
Cash flow
€50k▲
2024 · €31k
Current ratio
0.01▲
2024 · 0.01
Debt to equity
1.63▼
2024 · 1.75
ROE
-0.3%▲
2024 · -8.4%
ROA
-0.1%▲
2024 · -2.8%
Interest coverage
15.64▲
2024 · 9.72
Debt ≤ 1 year
€199k▼
2024 · €225k
Debt > 1 year
€358k▼
2024 · €378k
Income taxes
€820▼
2024 · €1k
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 · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.04M€994k▼
Fixed assets21/28€1.04M€992k▼
Tangible fixed assets22/27€1.04M€991k▼
Land and buildings22€1.01M€979k▼
Plant, machinery and equipment23€812€895▲
Furniture and vehicles24€21k€11k▼
Other tangible fixed assets26€8k-
Financial fixed assets28€1k€1k=
Current assets29/58€1k€2k▲
Cash at bank and in hand54/58€1k€1k▲
Deferred charges and accrued income490/1€88€443▲
Equity and liabilities
Total equity and liabilities10/49€1.04M€994k▼
Equity10/15€344k€343k▼
Contributions10/11€149k€149k=
Capital10€149k€149k=
Issued capital100€149k€149k=
Reserves13€293k€282k▼
Non-distributable reserves130/1€15k€15k=
Legal reserve130€15k€15k=
Tax-exempt reserves132€278k€267k▼
Profit (loss) carried forward14€-97k€-87k▲
Provisions and deferred taxes16€96k€92k▼
Deferred taxes168€96k€92k▼
Amounts payable17/49€603k€559k▼
Amounts payable after more than one year17€378k€358k▼
Financial debts170/4€312k€292k▼
Other amounts payable178/9€66k€66k=
Amounts payable within one year42/48€225k€199k▼
Current portion of amounts payable after more than one year42€20k€22k▲
Trade debts44€2k€4k▲
Suppliers440/4€2k€4k▲
Taxes, remuneration and social security45€2k€2k▼
Taxes450/3€2k€2k▼
Other amounts payable47/48€200k€171k▼
Accrued charges and deferred income492/3-€1k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€60k€51k▼
Other operating charges640/8€9k€6k▼
Gross operating margin9900€41k€56k▲
Operating profit (loss)9901€-28k€-662▲
Financial income75/76B€27-
Recurring financial income75€27-
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€-31k€-4k▲
Transfer from deferred taxes780€4k€4k=
Income taxes67/77€1k€820▼
Profit (loss) for the period9904€-29k€-1k▲
Transfer from tax-exempt reserves789€10k€10k=
Profit (loss) for the period to be appropriated9905€-18k€9k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-97k€-87k▲
Profit (loss) brought forward from the previous period14P€-78k€-97k▼
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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59k | €59k | €60k | €60k | €51k | ▼ 15.4% |
| Other operating charges640/8 | €9k | €6k | €13k | €9k | €6k | ▼ 33.0% |
| Gross operating margin9900 | €14k | €22k | €13k | €41k | €56k | ▲ 38.1% |
| Operating profit (loss)9901 | €-54k | €-44k | €-60k | €-28k | €-662 | ▲ 97.7% |
| Financial income75/76B | €12k | €25 | - | €27 | - | - |
| Recurring financial income75 | €12k | €25 | - | €27 | - | - |
| Financial charges65/66B | €10k | €10k | €25k | €3k | €3k | ▼ 2.4% |
| Recurring financial charges65 | €10k | €10k | €25k | €3k | €3k | ▼ 2.4% |
| Profit (loss) for the period before taxes9903 | €-53k | €-53k | €-85k | €-31k | €-4k | ▲ 87.7% |
| Transfer from deferred taxes780 | €5k | €4k | €3k | €4k | €4k | = |
| Income taxes67/77 | €387 | €916 | €905 | €1k | €820 | ▼ 30.5% |
| Profit (loss) for the period9904 | €-49k | €-50k | €-83k | €-29k | €-1k | ▲ 96.5% |
| Transfer from tax-exempt reserves789 | €13k | €10k | €8k | €10k | €10k | = |
| Profit (loss) for the period to be appropriated9905 | €-36k | €-40k | €-75k | €-18k | €9k | ▲ 151% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.53M | €1.41M | €1.11M | €1.04M | €994k | ▼ 4.7% |
| Fixed assets21/28 | €1.21M | €1.15M | €1.10M | €1.04M | €992k | ▼ 4.8% |
| Tangible fixed assets22/27 | €1.21M | €1.15M | €1.10M | €1.04M | €991k | ▼ 4.8% |
| Land and buildings22 | €1.11M | €1.08M | €1.04M | €1.01M | €979k | ▼ 3.2% |
| Plant, machinery and equipment23 | €6k | €4k | €2k | €812 | €895 | ▲ 10.3% |
| Furniture and vehicles24 | €57k | €41k | €39k | €21k | €11k | ▼ 44.7% |
| Other tangible fixed assets26 | €34k | €25k | €17k | €8k | - | - |
| Financial fixed assets28 | - | - | - | €1k | €1k | = |
| Current assets29/58 | €329k | €260k | €8k | €1k | €2k | ▲ 48.3% |
| Amounts receivable within one year40/41 | €121 | - | - | - | - | - |
| Trade receivables40 | €121 | - | - | - | - | - |
| Current investments50/53 | €320k | €253k | - | - | - | - |
| Cash at bank and in hand54/58 | €8k | €6k | €7k | €1k | €1k | ▲ 18.8% |
| Deferred charges and accrued income490/1 | €1k | €1k | €1k | €88 | €443 | ▲ 401% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.53M | €1.41M | €1.11M | €1.04M | €994k | ▼ 4.7% |
| Equity10/15 | €507k | €457k | €373k | €344k | €343k | ▼ 0.3% |
| Contributions10/11 | €149k | €149k | €149k | €149k | €149k | = |
| Capital10 | €149k | €149k | €149k | €149k | €149k | = |
| Issued capital100 | €149k | €149k | €149k | €149k | €149k | = |
| Reserves13 | €358k | €311k | €303k | €293k | €282k | ▼ 3.6% |
| Non-distributable reserves130/1 | €15k | €15k | €15k | €15k | €15k | = |
| Legal reserve130 | €15k | €15k | €15k | €15k | €15k | = |
| Tax-exempt reserves132 | €307k | €296k | €288k | €278k | €267k | ▼ 3.8% |
| Distributable reserves133 | €37k | - | - | - | - | - |
| Profit (loss) carried forward14 | - | €-3k | €-78k | €-97k | €-87k | ▲ 9.8% |
| Provisions and deferred taxes16 | €106k | €102k | €99k | €96k | €92k | ▼ 3.9% |
| Deferred taxes168 | €106k | €102k | €99k | €96k | €92k | ▼ 3.9% |
| Amounts payable17/49 | €921k | €848k | €636k | €603k | €559k | ▼ 7.4% |
| Amounts payable after more than one year17 | €689k | €669k | €399k | €378k | €358k | ▼ 5.4% |
| Financial debts170/4 | €603k | €583k | €333k | €312k | €292k | ▼ 6.6% |
| Other amounts payable178/9 | €86k | €86k | €66k | €66k | €66k | = |
| Amounts payable within one year42/48 | €232k | €179k | €238k | €225k | €199k | ▼ 11.4% |
| Current portion of amounts payable after more than one year42 | €21k | €20k | €20k | €20k | €22k | ▲ 8.5% |
| Trade debts44 | €241 | €2k | €5k | €2k | €4k | ▲ 74.1% |
| Suppliers440/4 | €241 | €2k | €5k | €2k | €4k | ▲ 74.1% |
| Taxes, remuneration and social security45 | €387 | €916 | €2k | €2k | €2k | ▼ 4.8% |
| Taxes450/3 | €387 | €916 | €2k | €2k | €2k | ▼ 4.8% |
| Other amounts payable47/48 | €210k | €156k | €211k | €200k | €171k | ▼ 14.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-49k | €-50k | €-83k | €-29k | €-1k | ▲ 96.5% |
| + Depreciation and write-downs630 | €59k | €59k | €60k | €60k | €51k | ▼ 15.4% |
| Operating cash flow (approximation) | €11k | €8k | €-24k | €31k | €50k | ▲ 59.6% |
| Investment in fixed assets (approximation) | - | €0 | €-15k | €-1k | €-924 | ▲ 11.2% |
| Change in cash | - | €-2k | €521 | €-5k | €199 | ▲ 104% |
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
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-83k
Net result drops to €-83k, the lowest in the series; recovery starts the following year.
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 9 days late
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
22-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €287k
Net result €287k after one loss-making year.
31-12
Financial
Liquidity times 123current ratio 1.91
Current ratio from 0.02 to 1.91; short-term debt falls from €279k to €251k.
31-12
Financial
Equity above €500kEq €574k ▲100%
Equity rises from €287k to €574k.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 57 days late
2017
12-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 43 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Antwerpen · 1 establishment unit since 1991
Ground area
4,909 m²
Building footprint
2,973 m²
Volume, LiDAR
70,359 m³
Parcel 11802B0059/00G002, Flanders · tallest building 31.0 m, ±10 floors. Linked by address, not a title deed.
1 establishment unit
Entrepotkaai 4 A 22, 2000 Antwerpen
since 19912.051.983.233
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11802B0059/00G002 | Flanders | 4,909 m² | 1 · 2,973 m² | 31.0 m · 10 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.
Recognitions · licences · registrations
Legal Entity Identifier
875500NO6TF8DNYIA366
Identification & contact
Identification
Legal formPublic limited company
Founded07-03-1991
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.