GUSIM
InactiveSignals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline01-10-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 14-05-2024, 78 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
78 d early
2022
60 d early
2021
108 d early
2020
99 d early
2019
65 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 82 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2023, abbreviated schema
Equity
€360,684▲ 8.0%
2022 · €333,998
Total assets
€2.7m▲ 0.9%
2022 · €2.7m
Net result
€26,686▲ 86.2%
2022 · €14,330
Working capital
-€167,401▼ 246%
2022 · -€48,340
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20192020202120222023
Operating result€51,482▼ 3.5%€52,761▲ 2.5%€56,244▲ 6.6%€55,752▼ 0.9%€66,924▲ 20.0%
Net result€22,362▼ 2.3%€25,740▲ 15.1%€29,389▲ 14.2%€14,330▼ 51.2%€26,686▲ 86.2%
Equity€264,540▲ 9.2%€290,279▲ 9.7%€319,668▲ 10.1%€333,998▲ 4.5%€360,684▲ 8.0%
Total assets€1.7m▼ 0.8%€1.7m▼ 0.5%€1.7m▲ 0.1%€2.7m▲ 61.7%€2.7m▲ 0.9%
Debt€1.4m▼ 2.5%€1.4m▼ 2.4%€1.4m▼ 2.0%€2.4m▲ 75.2%€2.4m▼ 0.1%
Working capital€695,779▼ 2.0%€684,083▼ 1.7%€674,950▼ 1.3%-€48,340-€167,401▼ 246%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2023; 2023 is 20% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €2.7m
Fixed assets
€548,972 ▲ 41.3%
Current assets
€2.2m ▼ 5.9%
Equity and liabilities €2.7m
Equity
€360,684 ▲ 8.0%
Debt
€2.4m ▼ 0.1%
Debt's share of the balance-sheet total falls from 87.7% to 86.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€85,796▲
2022 · €77,109
Cash flow
€45,558▲
2022 · €35,687
Current ratio
0.93▼
2022 · 0.98
Quick ratio
0.39▼
2022 · 0.45
Debt to equity
6.60▼
2022 · 7.13
ROE
7.4%▲
2022 · 4.3%
ROA
1.0%▲
2022 · 0.5%
Interest coverage
2.81▲
2022 · 2.13
Debt ≤ 1 year
€2.4m▼
2022 · €2.4m
Income taxes
€9,714▲
2022 · €5,216
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,357 | €21,357 | €21,357 | €21,357 | €18,872 | ▼ 11.6% |
| Other operating charges640/8 | - | - | €1,769 | €1,502 | €17,905 | ▲ 1,092% |
| Gross operating margin9900 | €81,283 | €83,614 | €79,370 | €78,611 | €103,701 | ▲ 31.9% |
| Operating profit (loss)9901 | €51,482 | €52,761 | €56,244 | €55,752 | €66,924 | ▲ 20.0% |
| Financial charges65/66B | - | - | €16,156 | €36,205 | €30,524 | ▼ 15.7% |
| Recurring financial charges65 | €19,766 | €17,652 | €16,156 | €36,205 | €30,524 | ▼ 15.7% |
| Profit (loss) for the period before taxes9903 | €31,716 | €35,110 | €40,087 | €19,546 | €36,400 | ▲ 86.2% |
| Income taxes67/77 | €9,354 | €9,370 | €10,698 | €5,216 | €9,714 | ▲ 86.2% |
| Profit (loss) for the period9904 | €22,362 | €25,740 | €29,389 | €14,330 | €26,686 | ▲ 86.2% |
| Profit (loss) for the period to be appropriated9905 | €22,362 | €25,740 | €29,389 | €14,330 | €26,686 | ▲ 86.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.7m | €1.7m | €2.7m | €2.7m | ▲ 0.9% |
| Fixed assets21/28 | €452,671 | €431,314 | €409,957 | €388,600 | €548,972 | ▲ 41.3% |
| Tangible fixed assets22/27 | €452,671 | €431,314 | €409,957 | €388,600 | €548,972 | ▲ 41.3% |
| Land and buildings22 | - | - | €409,957 | €388,600 | €548,972 | ▲ 41.3% |
| Current assets29/58 | €1.2m | €1.2m | €1.3m | €2.3m | €2.2m | ▼ 5.9% |
| Stocks and contracts in progress3 | €1.2m | €1.2m | €1.3m | €1.3m | €1.3m | ▲ 0.1% |
| Stocks30/36 | - | - | €1.3m | €1.3m | €1.3m | ▲ 0.1% |
| Amounts receivable within one year40/41 | €646 | - | - | €979,000 | €917,500 | ▼ 6.3% |
| Other amounts receivable41 | - | - | - | €979,000 | €917,500 | ▼ 6.3% |
| Cash at bank and in hand54/58 | €10,545 | €2,142 | €8,292 | €87,464 | €5,022 | ▼ 94.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €5,266 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.7m | €1.7m | €2.7m | €2.7m | ▲ 0.9% |
| Equity10/15 | €264,540 | €290,279 | €319,668 | €333,998 | €360,684 | ▲ 8.0% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €64,974 | €64,974 | €94,364 | €94,364 | €94,364 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | €92,504 | €92,504 | €92,504 | = |
| Profit (loss) carried forward14 | €193,365 | €219,105 | €219,105 | €233,435 | €260,121 | ▲ 11.4% |
| Amounts payable17/49 | €1.4m | €1.4m | €1.4m | €2.4m | €2.4m | ▼ 0.1% |
| Amounts payable after more than one year17 | €883,657 | €825,118 | €765,238 | - | - | - |
| Financial debts170/4 | - | - | €765,238 | - | - | - |
| Amounts payable within one year42/48 | €538,083 | €563,148 | €595,036 | €2.4m | €2.4m | ▼ 0.7% |
| Current portion of amounts payable after more than one year42 | - | - | €59,677 | - | - | - |
| Financial debts43 | - | - | €235,000 | €2.1m | €2.1m | = |
| Credit institutions430/8 | - | - | €235,000 | €2.1m | €2.1m | = |
| Trade debts44 | €79 | €7,739 | €7,782 | €7,776 | - | - |
| Suppliers440/4 | - | - | €7,782 | €7,776 | - | - |
| Taxes, remuneration and social security45 | - | - | €20,078 | €16,223 | €21,255 | ▲ 31.0% |
| Taxes450/3 | - | - | €20,078 | €16,223 | €21,255 | ▲ 31.0% |
| Other amounts payable47/48 | - | - | €272,500 | €252,500 | €237,500 | ▼ 5.9% |
| Accrued charges and deferred income492/3 | - | - | - | €6,261 | €20,887 | ▲ 234% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,362 | €25,740 | €29,389 | €14,330 | €26,686 | ▲ 86.2% |
| + Depreciation and write-downs630 | €21,357 | €21,357 | €21,357 | €21,357 | €18,872 | ▼ 11.6% |
| Operating cash flow (approximation) | €43,719 | €47,097 | €50,746 | €35,687 | €45,558 | ▲ 27.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€179,245 | - |
| Change in cash | - | -€8,403 | €6,150 | €79,172 | -€82,441 | ▼ 204% |
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
2024
14-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €14,330 ▼51.2%
Net result drops to €14,330, the lowest in the series.
14-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €29,389 ▲14.2%
Net result €29,389, the highest in the series.
23-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
27-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
05-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
06-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 6 days late
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
20-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
2015
21-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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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Structure & network
Owners and holdings
1 ownerChain of control
- ALTRO MODO
- GUSIM
Highest known parent: ALTRO MODO. The sources do not say who stands above it.
Owners 1
- ALTRO MODOparentSourceaccounts ALTRO MODO 2023100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.