GUST PROJECTS
ActiveSummary
GUST PROJECTS has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €243,578 and a net result of €20,444. Equity is growing by ~36.8% per year across the filed fiscal years. Its solvency ranks better than 47% of 37969 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability74▼-4
Solvency80▲+3
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity short (current ratio 0.14 against 0.06 in 2023; short-term debt: 34.6% and cash: 2.3% of total assets), and 45.4% of the assets are financed with debt.
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Signals
Three 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-07-2025, 13 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
13 d early
2023
8 d early
2022
39 d early
2021
33 d early
2020
31 d early
2019
44 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 28 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€243,578▲ 8.4%
2023 · €224,634
Total assets
€445,910▲ 3.5%
2023 · €430,767
Net result
€20,444▼ 86.8%
2023 · €154,946
Working capital
-€132,886▲ 8.8%
2023 · -€145,660
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€16,483▼ 67.3%€12,819▼ 22.2%€5,778▼ 54.9%€7,659▲ 32.6%€33,745▲ 341%
Net result€9,667within the sector's middle half▼ 70.6%€7,038within the sector's middle half▼ 27.2%€2,056below the sector's middle half▼ 70.8%€154,946above the sector's middle half▲ 7,436%€20,444within the sector's middle half▼ 86.8%
Equity€60,594within the sector's middle half▲ 19.0%€67,632within the sector's middle half▲ 11.6%€69,688within the sector's middle half▲ 3.0%€224,634within the sector's middle half▲ 222%€243,578above the sector's middle half▲ 8.4%
Total assets€274,679within the sector's middle half▼ 4.7%€257,980within the sector's middle half▼ 6.1%€249,449within the sector's middle half▼ 3.3%€430,767within the sector's middle half▲ 72.7%€445,910within the sector's middle half▲ 3.5%
Debt€214,085▼ 9.8%€190,348▼ 11.1%€179,761▼ 5.6%€155,776▼ 13.3%€154,066▼ 1.1%
Working capital€20,731within the sector's middle half▲ 17.4%€23,573within the sector's middle half▲ 13.7%€20,226within the sector's middle half▼ 14.2%-€145,660below the sector's middle half-€132,886below the sector's middle half▲ 8.8%
Solvency22.1%below the sector's middle half▲ 4.4pp26.2%within the sector's middle half▲ 4.2pp27.9%within the sector's middle half▲ 1.7pp52.1%within the sector's middle half▲ 24.2pp54.6%within the sector's middle half▲ 2.5pp
Current ratio1.56within the sector's middle half▲ 0.181.86within the sector's middle half▲ 0.301.65within the sector's middle half▼ 0.210.06below the sector's middle half▼ 1.590.14below the sector's middle half▲ 0.07
Return on assets (ROA)3.5%within the sector's middle half▼ 7.9pp2.7%within the sector's middle half▼ 0.8pp0.8%below the sector's middle half▼ 1.9pp36.0%above the sector's middle half▲ 35.1pp4.6%within the sector's middle half▼ 31.4pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 341% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €445,910
Fixed assets
€424,730 ▲ 1.0%
Current assets
€21,180 ▲ 109%
Equity and liabilities €445,910
Equity
€243,578 ▲ 8.4%
Provisions
€48,266 ▼ 4.2%
Debt
€154,066 ▼ 1.1%
Debt's share of the balance-sheet total falls from 36.2% to 34.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€51,636▲
2023 · €12,484
Cash flow
€38,335▼
2023 · €159,771
Debt to equity
0.63▼
2023 · 0.69
ROE
8.4%▼
2023 · 69.0%
Interest coverage
10.35▲
2023 · 3.42
Debt ≤ 1 year
€154,066▼
2023 · €155,776
Income taxes
€10,440▲
2023 · €1,910
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,049 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.0%
went bankrupt
3.7%
stopped otherwise
94%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,049 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,213 | €9,958 | €10,039 | €4,825 | €17,891 | ▲ 271% |
| Other operating charges640/8 | - | €1,941 | €1,623 | €50,543 | €1,675 | ▼ 96.7% |
| Non-recurring operating charges66A | - | - | €0 | €0 | €0 | ▼ 100% |
| Gross operating margin9900 | €28,332 | €24,718 | €17,440 | €63,027 | €53,311 | ▼ 15.4% |
| Operating profit (loss)9901 | €16,483 | €12,819 | €5,778 | €7,659 | €33,745 | ▲ 341% |
| Financial income75/76B | - | €16 | €30 | €203,209 | €38 | ▼ 100.0% |
| Recurring financial income75 | €102 | €16 | €30 | €20 | €38 | ▲ 87.0% |
| Non-recurring financial income76B | - | - | - | €203,189 | €0 | ▼ 100% |
| Financial charges65/66B | - | €3,086 | €2,856 | €3,655 | €4,990 | ▲ 36.5% |
| Recurring financial charges65 | €3,284 | €3,086 | €2,856 | €3,655 | €4,990 | ▲ 36.5% |
| Profit (loss) for the period before taxes9903 | €13,301 | €9,749 | €2,952 | €207,213 | €28,793 | ▼ 86.1% |
| Transfer from deferred taxes780 | - | - | - | €440 | €2,091 | ▲ 375% |
| Transfer to deferred taxes680 | - | - | - | €50,797 | €0 | ▼ 100% |
| Income taxes67/77 | €3,634 | €2,711 | €896 | €1,910 | €10,440 | ▲ 447% |
| Profit (loss) for the period9904 | €9,667 | €7,038 | €2,056 | €154,946 | €20,444 | ▼ 86.8% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,320 | €6,273 | ▲ 375% |
| Transfer to tax-exempt reserves689 | - | - | - | €152,392 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €9,667 | €7,038 | €2,056 | €3,875 | €26,717 | ▲ 589% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €274,679 | €257,980 | €249,449 | €430,767 | €445,910 | ▲ 3.5% |
| Fixed assets21/28 | €217,059 | €207,101 | €198,123 | €420,651 | €424,730 | ▲ 1.0% |
| Tangible fixed assets22/27 | €217,059 | €207,101 | €198,123 | €420,651 | €424,730 | ▲ 1.0% |
| Land and buildings22 | - | €204,923 | €196,811 | €402,334 | €410,111 | ▲ 1.9% |
| Plant, machinery and equipment23 | - | €1,306 | €101 | €0 | - | - |
| Furniture and vehicles24 | - | €872 | €1,211 | €18,317 | €14,620 | ▼ 20.2% |
| Current assets29/58 | €57,619 | €50,879 | €51,326 | €10,116 | €21,180 | ▲ 109% |
| Stocks and contracts in progress3 | - | €16,459 | - | - | - | - |
| Contracts in progress37 | - | €16,459 | - | - | - | - |
| Amounts receivable within one year40/41 | €35,767 | €12,503 | €12,181 | €5,733 | €11,093 | ▲ 93.5% |
| Trade receivables40 | - | €11,430 | €12,181 | €5,445 | €10,890 | ▲ 100% |
| Other amounts receivable41 | - | €1,074 | - | €288 | €203 | ▼ 29.6% |
| Cash at bank and in hand54/58 | €21,853 | €21,787 | €30,139 | €4,320 | €10,087 | ▲ 134% |
| Deferred charges and accrued income490/1 | - | €130 | €9,005 | €63 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €274,679 | €257,980 | €249,449 | €430,767 | €445,910 | ▲ 3.5% |
| Equity10/15 | €60,594 | €67,632 | €69,688 | €224,634 | €243,578 | ▲ 8.4% |
| Contributions10/11 | - | €18,000 | €18,000 | €18,000 | €18,000 | = |
| Reserves13 | €42,594 | €49,632 | €51,688 | €206,634 | €225,578 | ▲ 9.2% |
| Tax-exempt reserves132 | - | - | - | €151,071 | €144,798 | ▼ 4.2% |
| Distributable reserves133 | - | €49,632 | €51,688 | €55,563 | €80,780 | ▲ 45.4% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Provisions and deferred taxes16 | - | - | - | €50,357 | €48,266 | ▼ 4.2% |
| Deferred taxes168 | - | - | - | €50,357 | €48,266 | ▼ 4.2% |
| Amounts payable17/49 | €214,085 | €190,348 | €179,761 | €155,776 | €154,066 | ▼ 1.1% |
| Amounts payable after more than one year17 | €177,197 | €163,042 | €148,661 | €0 | - | - |
| Financial debts170/4 | - | €163,042 | €148,661 | €0 | - | - |
| Amounts payable within one year42/48 | €36,888 | €27,306 | €31,100 | €155,776 | €154,066 | ▼ 1.1% |
| Current portion of amounts payable after more than one year42 | - | €14,154 | €14,381 | €0 | €100,000 | - |
| Trade debts44 | €608 | €35 | €487 | €2,592 | €1,236 | ▼ 52.3% |
| Suppliers440/4 | - | €35 | €487 | €2,592 | €1,236 | ▼ 52.3% |
| Taxes, remuneration and social security45 | - | €850 | €6,105 | €14,090 | €13,456 | ▼ 4.5% |
| Taxes450/3 | - | €850 | €6,105 | €14,090 | €13,456 | ▼ 4.5% |
| Other amounts payable47/48 | - | €12,267 | €10,128 | €139,094 | €39,374 | ▼ 71.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,667 | €7,038 | €2,056 | €154,946 | €20,444 | ▼ 86.8% |
| + Depreciation and write-downs630 | €10,213 | €9,958 | €10,039 | €4,825 | €17,891 | ▲ 271% |
| Operating cash flow (approximation) | €19,880 | €16,996 | €12,095 | €159,771 | €38,335 | ▼ 76.0% |
| Investment in fixed assets (approximation) | - | €0 | -€1,061 | -€227,353 | -€21,970 | ▲ 90.3% |
| Change in cash | - | -€65 | €8,352 | -€25,820 | €5,768 | ▲ 122% |
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
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2019net €154,946 ▲7,436%
Net result €154,946, the highest in the series.
31-12
Financial
Equity above €200,000Eq €224,634 ▲222%
5 profitable years in a row build equity to €224,634.
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €2,056 ▼70.8%
Net result drops to €2,056, the lowest in the series; recovery starts the following year.
28-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · 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, Knokke-Heist · 1 establishment unit since 2018
Ground area
190 m²
Building footprint
190 m²
Volume, LiDAR
3,309 m³
Parcel 31336H0088/00A000, Flanders · tallest building 22.1 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
GUST PROJECTS
since 20182.273.267.551
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31336H0088/00A000 | Flanders | 190 m² | 1 · 190 m² | 22.1 m · 6 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 82,642 companies in sector 70200 we hold annual accounts for 52,629. 39,057 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
Founded15-02-2018
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68121Development of residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0690666229
Also
9925:BE0690666229
Registered
20-02-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.