GDW Innovations
ActiveSummary
GDW Innovations has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €168,555 and a net result of €40,339. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 28% of 17213 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+6
Solvency55▼-21
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity short (current ratio 0.13 against 0.45 in 2024; short-term debt: 69.7% and cash: 5.5% of total assets), and 69.7% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
30.3%
Return on assets
7.2%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €168,555
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
27 d late
2023
30 d late
2022
30 d late
2021
16 d late
2020
16 d late
2019
6 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 20 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
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
28-09-2026 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 check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€168,555▲ 31.5%
2024 · €128,216
Total assets
€557,054▲ 123%
2024 · €249,574
Net result
€40,339▲ 15.5%
2024 · €34,934
Working capital
-€338,489▼ 403%
2024 · -€67,327
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related 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
Line20212022202320242025
Operating result€72€925▲ 1,182%-€2,461€34,934€40,413▲ 15.7%
Net result€72below the sector's middle half€925below the sector's middle half▲ 1,189%-€2,461below the sector's middle half€34,934within the sector's middle half€40,339within the sector's middle half▲ 15.5%
Equity€19,819below the sector's middle half▲ 0.4%€20,743below the sector's middle half▲ 4.7%€93,283within the sector's middle half▲ 350%€128,216within the sector's middle half▲ 37.4%€168,555above the sector's middle half▲ 31.5%
Total assets€20,514below the sector's middle half▲ 3.1%€21,434below the sector's middle half▲ 4.5%€102,173within the sector's middle half▲ 377%€249,574within the sector's middle half▲ 144%€557,054above the sector's middle half▲ 123%
Debt€695▲ 379%€691▼ 0.7%€8,890▲ 1,187%€121,358▲ 1,265%€388,499▲ 220%
Working capital€19,819within the sector's middle half▲ 0.4%€20,743within the sector's middle half▲ 4.7%€46,739within the sector's middle half▲ 125%-€67,327below the sector's middle half-€338,489below the sector's middle half▼ 403%
Solvency96.6%above the sector's middle half▼ 2.7pp96.8%above the sector's middle half▲ 0.2pp91.3%above the sector's middle half▼ 5.5pp51.4%within the sector's middle half▼ 39.9pp30.3%within the sector's middle half▼ 21.1pp
Current ratio29.50above the sector's middle half31.03above the sector's middle half▲ 1.546.26above the sector's middle half▼ 24.780.45below the sector's middle half▼ 5.810.13below the sector's middle half▼ 0.32
Return on assets (ROA)0.3%below the sector's middle half▲ 5.3pp4.3%within the sector's middle half▲ 4.0pp-2.4%below the sector's middle half▼ 6.7pp14.0%within the sector's middle half▲ 16.4pp7.2%within the sector's middle half▼ 6.8pp
Staff (FTE)0.22▲ 900%
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related 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 2023 the operating result has climbed two years in a row; 2025 is 16% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €557,054
Fixed assets
€507,045 ▲ 159%
Current assets
€50,009 ▼ 7.4%
Equity and liabilities €557,054
Equity
€168,555 ▲ 31.5%
Debt
€388,499 ▲ 220%
Debt's share of the balance-sheet total rises from 48.6% to 69.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€128,767▲
2024 · €80,084
Cash flow
€128,694▲
2024 · €80,084
Debt to equity
2.30▲
2024 · 0.95
ROE
23.9%▼
2024 · 27.2%
Interest coverage
1759.83
Debt ≤ 1 year
€388,499▲
2024 · €121,358
Staff costs
€109,486▲
2024 · €6,824
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,679 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.8%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
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 34,679 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €6,824 | €109,486 | ▲ 1,504% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €11,636 | €45,150 | €88,354 | ▲ 95.7% |
| Other operating charges640/8 | €368 | €358 | €415 | €956 | €39 | ▼ 96.0% |
| Gross operating margin9900 | €441 | €1,283 | €9,590 | €87,865 | €238,292 | ▲ 171% |
| Operating profit (loss)9901 | €72 | €925 | -€2,461 | €34,934 | €40,413 | ▲ 15.7% |
| Financial charges65/66B | €0 | - | - | - | €73 | - |
| Recurring financial charges65 | €0 | - | - | - | €73 | - |
| Profit (loss) for the period before taxes9903 | €72 | €925 | -€2,461 | €34,934 | €40,339 | ▲ 15.5% |
| Profit (loss) for the period9904 | €72 | €925 | -€2,461 | €34,934 | €40,339 | ▲ 15.5% |
| Profit (loss) for the period to be appropriated9905 | €72 | €925 | -€2,461 | €34,934 | €40,339 | ▲ 15.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €20,514 | €21,434 | €102,173 | €249,574 | €557,054 | ▲ 123% |
| Fixed assets21/28 | - | - | €46,544 | €195,543 | €507,045 | ▲ 159% |
| Intangible fixed assets21 | - | - | €46,544 | €195,543 | €507,045 | ▲ 159% |
| Current assets29/58 | €20,514 | €21,434 | €55,629 | €54,031 | €50,009 | ▼ 7.4% |
| Amounts receivable within one year40/41 | - | €1,885 | €20,706 | €20,207 | €19,013 | ▼ 5.9% |
| Trade receivables40 | - | €1,815 | €11,979 | €1,815 | €19,013 | ▲ 948% |
| Other amounts receivable41 | - | €70 | €8,727 | €18,392 | - | - |
| Current investments50/53 | - | - | - | €33,825 | - | - |
| Cash at bank and in hand54/58 | €20,514 | €19,549 | €34,923 | - | €30,855 | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €141 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €20,514 | €21,434 | €102,173 | €249,574 | €557,054 | ▲ 123% |
| Equity10/15 | €19,819 | €20,743 | €93,283 | €128,216 | €168,555 | ▲ 31.5% |
| Contributions10/11 | €80,000 | €80,000 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €1,946 | €1,946 | - | €28,216 | €68,555 | ▲ 143% |
| Non-distributable reserves130/1 | €97 | €97 | - | - | - | - |
| Reserves not available under the articles1311 | €97 | €97 | - | - | - | - |
| Distributable reserves133 | €1,848 | €1,848 | - | €28,216 | €68,555 | ▲ 143% |
| Profit (loss) carried forward14 | -€62,127 | -€61,202 | -€6,717 | - | - | - |
| Amounts payable17/49 | €695 | €691 | €8,890 | €121,358 | €388,499 | ▲ 220% |
| Amounts payable within one year42/48 | €695 | €691 | €8,890 | €121,358 | €388,499 | ▲ 220% |
| Trade debts44 | €600 | €600 | €8,890 | €37,834 | €30,156 | ▼ 20.3% |
| Suppliers440/4 | €600 | €600 | €8,890 | €37,834 | €30,156 | ▼ 20.3% |
| Taxes, remuneration and social security45 | €5 | - | - | €3,524 | €23,343 | ▲ 562% |
| Taxes450/3 | €5 | - | - | - | €2,353 | - |
| Remuneration and social security454/9 | - | - | - | €3,524 | €20,989 | ▲ 496% |
| Other amounts payable47/48 | €91 | €91 | - | €80,000 | €335,000 | ▲ 319% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €72 | €925 | -€2,461 | €34,934 | €40,339 | ▲ 15.5% |
| + Depreciation and write-downs630 | - | - | €11,636 | €45,150 | €88,354 | ▲ 95.7% |
| Operating cash flow (approximation) | €72 | €925 | €9,175 | €80,084 | €128,694 | ▲ 60.7% |
| Investment in fixed assets (approximation) | - | - | - | -€194,150 | -€399,856 | ▼ 106% |
| Change in cash | - | -€965 | €15,374 | - | - | - |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
31-12
Financial
Highest result since 2018net €40,339 ▲15.5%
Operating result €40,413, net result €40,339, both a record.
31-12
Financial
Equity above €150,000Eq €168,555 ▲31.5%
2 profitable years in a row build equity to €168,555.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Back to profitnet €34,934
Net result €34,934 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €128,216 ▲37.4%
Equity rises from €93,283 to €128,216.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
16-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 16 days late
2021
31-12
Financial
Back to profitnet €72
Net result €72 after 3 loss-making years.
16-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 16 days late
2020
25-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
24-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 24 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
7 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, Gent · 1 establishment unit since 2008
Ground area
3,210 m²
Building footprint
1,933 m²
Volume, LiDAR
45,420 m³
2 parcels, Flanders · tallest building 36.4 m, ±10 floors. Linked by address, not a title deed.
1 establishment unit
Gasmeterlaan 191, 9000 Gent
since 20082.173.575.505
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44807G0052/00X002 | Flanders | 2,315 m² | 1 · 1,571 m² | 36.4 m · 10 fl. |
| 44807G0155/00C004 | Flanders | 895 m² | 1 · 362 m² | 11.0 m · 3 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.
Similar companies · same sector, comparable size
Kicopro
BE 0794.802.063
Brussel · Eq €168,449
Rothko
BE 0787.559.628
Tessenderlo-Ham · Eq €168,367
SOLUCO
BE 0829.377.021
Lokeren · Eq €168,353
ARTE SJOK
BE 0475.344.441
Antwerpen · Eq €168,878
VanB
BE 0648.699.475
Oudergem · Eq €168,924
Of 16,911 companies in sector 62100 we hold annual accounts for 8,786. 6,796 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
Founded12-09-2008
Fiscal year end31-12
Legal name NL
Interaictive
Activities, NACEBEL 2025
62100Computer programming
62900Other information technology and computer services
62200Computer consultancy and computer facilities management
E-invoicing
Reachable via Peppol
Peppol ID
0208:0806310322
Registered
25-03-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.