GUSTAVE
ActiveSummary
GUSTAVE has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €667k and a net result of €-5k. Equity is growing by ~13.9% per year across the filed fiscal years. Its solvency ranks better than 91% of 19356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability18▲+1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 9.28 against 9.88 in 2023; short-term debt: 10.8% and cash: 40.2% of total assets), and 10.8% of the assets are financed with debt.
Credit check for your own amount and term
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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
89.2%
Return on assets
-0.6%
Age of the figures
21 mo
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 24-06-2025, 37 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
37 d early
2022
47 d early
2021
32 d early
2020
33 d early
2019
42 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€667k▼ 0.7%
2023 · €671k
2018: €-17klowest in 7 years
2019: €204k▲ +1333% vs 2018
2020: €664k▲ +226% vs 2019
2021: €690k▲ +3.8% vs 2020highest in 7 years
2022: €682k▼ -1.1% vs 2021
2023: €671k▼ -1.5% vs 2022
2024: €667k▼ -0.7% vs 2023
2018 → 2024
Total assets
€747k=
2023 · €747k
2018: €201klowest in 7 years
2019: €524k▲ +161% vs 2018
2020: €774k▲ +47.6% vs 2019highest in 7 years
2021: €761k▼ -1.6% vs 2020
2022: €755k▼ -0.9% vs 2021
2023: €747k▼ -1.0% vs 2022
2024: €747k● +0.0% vs 2023
2018 → 2024
Net result
€-5k▲ 53.3%
2023 · €-10k
2018: €-14klowest in 7 years
2019: €220k▲ +1654% vs 2018
2020: €461k▲ +109% vs 2019highest in 7 years
2021: €25k▼ -94.5% vs 2020
2022: €-8k▼ -131% vs 2021
2023: €-10k▼ -31.1% vs 2022
2024: €-5k▲ +53.3% vs 2023
2018 → 2024
Working capital
€666k▼ 0.7%
2023 · €671k
2018: €-17klowest in 7 years
2019: €204k▲ +1333% vs 2018
2020: €664k▲ +226% vs 2019
2021: €690k▲ +3.8% vs 2020highest in 7 years
2022: €682k▼ -1.1% vs 2021
2023: €671k▼ -1.6% vs 2022
2024: €666k▼ -0.7% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€664k-€690k▲ 3.8%€682k▼ 1.1%€671k▼ 1.5%€667k▼ 0.7%
2020: €664klowest in 5 years
2021: €690k▲ +3.8% vs 2020highest in 5 years
2022: €682k▼ -1.1% vs 2021
2023: €671k▼ -1.5% vs 2022
2024: €667k▼ -0.7% vs 2023
Operating result€621k-€37k▼ 94.1%€-4k€-6k▼ 46.1%€-5k▲ 18.4%
2020: €621khighest in 5 years
2021: €37k▼ -94.1% vs 2020
2022: €-4k▼ -112% vs 2021
2023: €-6k▼ -46.1% vs 2022lowest in 5 years
2024: €-5k▲ +18.4% vs 2023
Net result€461k-€25k▼ 94.5%€-8k€-10k▼ 31.1%€-5k▲ 53.3%
2020: €461khighest in 5 years
2021: €25k▼ -94.5% vs 2020
2022: €-8k▼ -131% vs 2021
2023: €-10k▼ -31.1% vs 2022lowest in 5 years
2024: €-5k▲ +53.3% vs 2023
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 €5k in 2024 against €6k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €747k
Fixed assets
€357 ▼ 37.4%
Current assets
€747k =
Equity and liabilities €747k
Equity
€667k ▼ 0.7%
Debt
€80k ▲ 6.5%
Debt's share of the balance-sheet total rises from 10.1% to 10.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-5k▲
2023 · €-6k
Cash flow
€-5k▲
2023 · €-10k
Current ratio
9.28▼
2023 · 9.88
Debt to equity
0.12▲
2023 · 0.11
ROE
-0.7%▲
2023 · -1.5%
ROA
-0.6%▲
2023 · -1.4%
Interest coverage
-0.82▲
2023 · -1.49
Debt ≤ 1 year
€80k▲
2023 · €76k
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 · 2024 against 2023 · 34 lines
Balance sheet
Code20232024
Assets
Total assets20/58€747k€747k=
Fixed assets21/28€570€357▼
Tangible fixed assets22/27€570€357▼
Plant, machinery and equipment23€570€357▼
Current assets29/58€746k€747k=
Amounts receivable within one year40/41€4k€7k▲
Other amounts receivable41€4k€7k▲
Current investments50/53-€440k
Cash at bank and in hand54/58€742k€300k▼
Equity and liabilities
Total equity and liabilities10/49€747k€747k=
Equity10/15€671k€667k▼
Contributions10/11€20k€20k=
Reserves13€651k€647k▼
Distributable reserves133€651k€647k▼
Amounts payable17/49€76k€80k▲
Amounts payable within one year42/48€76k€80k▲
Trade debts44-€57
Suppliers440/4-€57
Taxes, remuneration and social security45€1k€2k▲
Taxes450/3€1k€2k▲
Other amounts payable47/48€74k€79k▲
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€67€213▲
Other operating charges640/8€524€505▼
Gross operating margin9900€-6k€-4k▲
Operating profit (loss)9901€-6k€-5k▲
Financial income75/76B-€6k
Recurring financial income75-€6k
Financial charges65/66B€4k€6k▲
Recurring financial charges65€4k€6k▲
Profit (loss) for the period before taxes9903€-10k€-5k▲
Profit (loss) for the period9904€-10k€-5k▲
Profit (loss) for the period to be appropriated9905€-10k€-5k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-10k€-5k▲
Transfer from equity791/2€10k€5k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €67 | €213 | ▲ 218% |
| Other operating charges640/8 | - | €479 | €1k | €524 | €505 | ▼ 3.6% |
| Gross operating margin9900 | €622k | €37k | €-3k | €-6k | €-4k | ▲ 22.6% |
| Operating profit (loss)9901 | €621k | €37k | €-4k | €-6k | €-5k | ▲ 18.4% |
| Financial income75/76B | - | - | - | - | €6k | - |
| Recurring financial income75 | - | - | - | - | €6k | - |
| Financial charges65/66B | - | €3k | €4k | €4k | €6k | ▲ 43.6% |
| Recurring financial charges65 | €7k | €3k | €4k | €4k | €6k | ▲ 43.6% |
| Profit (loss) for the period before taxes9903 | €615k | €33k | €-8k | €-10k | €-5k | ▲ 53.3% |
| Income taxes67/77 | €154k | €8k | €-94 | - | - | - |
| Profit (loss) for the period9904 | €461k | €25k | €-8k | €-10k | €-5k | ▲ 53.3% |
| Profit (loss) for the period to be appropriated9905 | €461k | €25k | €-8k | €-10k | €-5k | ▲ 53.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €774k | €761k | €755k | €747k | €747k | = |
| Fixed assets21/28 | - | - | - | €570 | €357 | ▼ 37.4% |
| Tangible fixed assets22/27 | - | - | - | €570 | €357 | ▼ 37.4% |
| Plant, machinery and equipment23 | - | - | - | €570 | €357 | ▼ 37.4% |
| Current assets29/58 | €774k | €761k | €755k | €746k | €747k | = |
| Stocks and contracts in progress3 | €385k | - | - | - | - | - |
| Amounts receivable within one year40/41 | €7k | €3k | €3k | €4k | €7k | ▲ 60.5% |
| Other amounts receivable41 | - | €3k | €3k | €4k | €7k | ▲ 60.5% |
| Current investments50/53 | - | - | - | - | €440k | - |
| Cash at bank and in hand54/58 | €382k | €759k | €752k | €742k | €300k | ▼ 59.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €774k | €761k | €755k | €747k | €747k | = |
| Equity10/15 | €664k | €690k | €682k | €671k | €667k | ▼ 0.7% |
| Contributions10/11 | - | €20k | €20k | €20k | €20k | = |
| Reserves13 | €644k | €670k | €662k | €651k | €647k | ▼ 0.7% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | €668k | €660k | €651k | €647k | ▼ 0.7% |
| Profit (loss) carried forward14 | €-37k | - | - | - | - | - |
| Amounts payable17/49 | €110k | €72k | €73k | €76k | €80k | ▲ 6.5% |
| Amounts payable within one year42/48 | €110k | €72k | €73k | €76k | €80k | ▲ 6.5% |
| Trade debts44 | €226 | - | €385 | - | €57 | - |
| Suppliers440/4 | - | - | €385 | - | €57 | - |
| Taxes, remuneration and social security45 | - | €888 | €848 | €1k | €2k | ▲ 44.3% |
| Taxes450/3 | - | - | - | €1k | €2k | ▲ 44.3% |
| Remuneration and social security454/9 | - | €888 | €848 | - | - | - |
| Other amounts payable47/48 | - | €71k | €71k | €74k | €79k | ▲ 5.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €461k | €25k | €-8k | €-10k | €-5k | ▲ 53.3% |
| + Depreciation and write-downs630 | - | - | - | €67 | €213 | ▲ 218% |
| Operating cash flow (approximation) | €461k | €25k | €-8k | €-10k | €-5k | ▲ 55.1% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | €377k | €-7k | €-9k | €-442k | ▼ 4,622% |
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
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €461k ▲109%
Operating result €621k, net result €461k, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 7.06
Current ratio from 1.63 to 7.06; short-term debt falls from €321k to €110k.
31-12
Financial
Equity above €500kEq €664k ▲226%
2 profitable years in a row build equity to €664k.
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €220k
Net result €220k after one loss-making year.
31-12
Financial
Equity above €200kEq €204k
Equity rises from €-17k to €204k.
29-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 13 days late
2017
19-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Bonheiden · 1 establishment unit since 2015
Ground area
2,038 m²
Building footprint
205 m²
Volume, LiDAR
354 m³
Parcel 12005D0156/00Y000, Flanders · tallest building 8.6 m. Linked by address, not a title deed.
1 establishment unit
GUSTAVE
since 20152.249.116.927
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12005D0156/00Y000 | Flanders | 2,038 m² | 1 · 205 m² | 8.6 m |
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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OPTIMUS INVEST
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SKAPAR
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 4,424 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
Founded22-12-2015
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
Scores and ratios are computed by Checked and are not a credit decision.