MAISON GILSON
ActiveSummary
MAISON GILSON has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €301,493 and a net result of -€98,731. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 11% of 5071 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability37▲+10
Solvency32▼-2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity short (current ratio 0.85 against 0.84 in 2024; short-term debt: 82.5% and cash: 0.8% of total assets), and 92.7% of the assets are financed with debt.
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Signals
Seven 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 -€98,731
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 5071 sector peers (2025).
NBB · sector comparisonPosition among 5071 sector peers
Solvency
better than 11%
← weakest
strongest →
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
25 d late
2023
35 d early
2022
47 d early
2021
40 d early
2020
80 d early
2019
37 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 32 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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. Usually files around 27 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 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 Is the workforce growing, and do people stay?Employer check 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
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Financials · fiscal year 2025, full schema
In the rankings
#3 company by total assets in Blegny, Wholesale and retail trade sector#6 employer in Blegny, Wholesale and retail trade sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€98,731▲ 56.3%
2024 · -€226,155
Working capital
-€511,354▲ 10.1%
2024 · -€568,495
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€134,435▲ 81.7%€190,019▲ 41.3%€236,658▲ 24.5%€120,749▼ 49.0%€187,574▲ 55.3%
Net result€32,342within the sector's middle half▲ 110%€17,266within the sector's middle half▼ 46.6%€15,160within the sector's middle half▼ 12.2%-€226,155below the sector's middle half-€98,731below the sector's middle half▲ 56.3%
Equity€293,983within the sector's middle half▲ 12.4%€311,249within the sector's middle half▲ 5.9%€626,379within the sector's middle half▲ 101%€400,224within the sector's middle half▼ 36.1%€301,493below the sector's middle half▼ 24.7%
Total assets€2.7mwithin the sector's middle half▲ 18.3%€3.4mwithin the sector's middle half▲ 23.9%€4.1mwithin the sector's middle half▲ 20.0%€4.2mwithin the sector's middle half▲ 4.2%€4.1mwithin the sector's middle half▼ 2.7%
Debt€2.4m▲ 19.0%€3.1m▲ 26.0%€3.4m▲ 11.7%€3.8m▲ 11.6%€3.8m▼ 0.4%
Working capital€74,007below the sector's middle half▼ 27.5%€121,480within the sector's middle half▲ 64.1%-€378,604below the sector's middle half-€568,495below the sector's middle half▼ 50.2%-€511,354below the sector's middle half▲ 10.1%
Solvency10.8%below the sector's middle half▼ 0.6pp9.2%below the sector's middle half▼ 1.6pp15.4%below the sector's middle half▲ 6.2pp9.5%below the sector's middle half▼ 6.0pp7.3%below the sector's middle half▼ 2.1pp
Current ratio1.03below the sector's middle half▼ 0.021.04below the sector's middle half▲ 0.010.89below the sector's middle half▼ 0.160.84below the sector's middle half▼ 0.050.85below the sector's middle half▲ 0.01
Return on assets (ROA)1.2%within the sector's middle half▲ 0.5pp0.5%below the sector's middle half▼ 0.7pp0.4%within the sector's middle half▼ 0.1pp-5.4%below the sector's middle half▼ 5.7pp-2.4%below the sector's middle half▲ 3.0pp
Staff (FTE)15.2within the sector's middle half▲ 16.9%17.6within the sector's middle half▲ 15.8%16.6within the sector's middle half▼ 5.7%16.3within the sector's middle half▼ 1.8%16.1within the sector's middle half▼ 1.2%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 55% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.1m
Fixed assets
€1.2m ▼ 2.6%
Current assets
€2.9m ▼ 2.8%
Equity and liabilities €4.1m
Equity
€301,493 ▼ 24.7%
Debt
€3.8m ▼ 0.4%
Debt's share of the balance-sheet total rises from 90.5% to 92.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€393,159▲
2024 · €294,248
Cash flow
€106,854▲
2024 · -€52,656
Quick ratio
0.43▼
2024 · 0.44
Debt to equity
12.63▲
2024 · 9.56
ROE
-32.7%▲
2024 · -56.5%
Interest coverage
2.50▲
2024 · 1.74
Debt ≤ 1 year
€3.4m▼
2024 · €3.5m
Debt > 1 year
€415,387▲
2024 · €270,977
Income taxes
€1,199▲
2024 · €493
Staff costs
€1.1m▼
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,104 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 94% are still going.
- Small
- 20 years or older
- solvency under 10%
- a small loss
1.8%
went bankrupt
3.6%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 1,104 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 | €863,628 | €1.0m | €1.1m | €1.1m | €1.1m | ▼ 7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €89,100 | €87,695 | €112,857 | €173,499 | €205,585 | ▲ 18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €8,912 | -€4,398 | €12,911 | €772 | -€57,465 | ▼ 7,540% |
| Other operating charges640/8 | €17,613 | €10,538 | €19,329 | €21,044 | €81,517 | ▲ 287% |
| Gross operating margin9900 | €1.1m | €1.3m | €1.5m | €1.5m | €1.5m | ▲ 1.1% |
| Operating profit (loss)9901 | €134,435 | €190,019 | €236,658 | €120,749 | €187,574 | ▲ 55.3% |
| Financial income75/76B | €762 | €158 | €799 | €263 | €1,822 | ▲ 592% |
| Recurring financial income75 | €762 | €158 | €799 | €263 | €1,016 | ▲ 286% |
| Non-recurring financial income76B | - | - | - | - | €807 | - |
| Financial charges65/66B | €81,895 | €149,926 | €198,244 | €346,674 | €286,927 | ▼ 17.2% |
| Recurring financial charges65 | €81,895 | €84,246 | €133,449 | €169,092 | €157,258 | ▼ 7.0% |
| Non-recurring financial charges66B | - | €65,680 | €64,795 | €177,582 | €129,670 | ▼ 27.0% |
| Profit (loss) for the period before taxes9903 | €53,302 | €40,251 | €39,214 | -€225,662 | -€97,531 | ▲ 56.8% |
| Income taxes67/77 | €20,960 | €22,985 | €24,054 | €493 | €1,199 | ▲ 143% |
| Profit (loss) for the period9904 | €32,342 | €17,266 | €15,160 | -€226,155 | -€98,731 | ▲ 56.3% |
| Transfer from tax-exempt reserves789 | €13,500 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €45,842 | €17,266 | €15,160 | -€226,155 | -€98,731 | ▲ 56.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €3.4m | €4.1m | €4.2m | €4.1m | ▼ 2.7% |
| Formation expenses20 | €520 | €0 | - | - | - | - |
| Fixed assets21/28 | €308,865 | €300,663 | €1.1m | €1.3m | €1.2m | ▼ 2.6% |
| Intangible fixed assets21 | €37,878 | €50,077 | €124,191 | €145,291 | €131,887 | ▼ 9.2% |
| Tangible fixed assets22/27 | €270,252 | €249,851 | €998,540 | €1.1m | €1.1m | ▼ 1.7% |
| Land and buildings22 | - | - | €680,333 | €628,778 | €577,222 | ▼ 8.2% |
| Plant, machinery and equipment23 | €13,534 | €10,408 | €18,178 | €39,438 | €36,666 | ▼ 7.0% |
| Furniture and vehicles24 | €23,767 | €18,386 | €25,497 | €35,601 | €25,325 | ▼ 28.9% |
| Leasing and similar rights25 | €20,760 | €24,082 | €14,130 | €146,412 | €220,243 | ▲ 50.4% |
| Other tangible fixed assets26 | €212,191 | €196,975 | €240,302 | €235,001 | €200,235 | ▼ 14.8% |
| Assets under construction and advance payments27 | - | - | €20,100 | €31,297 | €37,557 | ▲ 20.0% |
| Financial fixed assets28 | €735 | €735 | €735 | €870 | €870 | = |
| Current assets29/58 | €2.4m | €3.1m | €2.9m | €3.0m | €2.9m | ▼ 2.8% |
| Stocks and contracts in progress3 | €1.3m | €1.4m | €1.3m | €1.4m | €1.4m | ▲ 0.9% |
| Stocks30/36 | €1.3m | €1.4m | €1.3m | €1.4m | €1.4m | ▲ 0.9% |
| Amounts receivable within one year40/41 | €1.0m | €1.6m | €1.5m | €1.4m | €1.4m | ▼ 2.1% |
| Trade receivables40 | €1.0m | €1.2m | €1.3m | €1.2m | €1.1m | ▼ 3.2% |
| Other amounts receivable41 | €1,110 | €434,420 | €234,537 | €265,458 | €272,920 | ▲ 2.8% |
| Cash at bank and in hand54/58 | €39,601 | €45,328 | €34,400 | €51,092 | €32,065 | ▼ 37.2% |
| Deferred charges and accrued income490/1 | €24,477 | €35,223 | €54,405 | €69,356 | €23,718 | ▼ 65.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €3.4m | €4.1m | €4.2m | €4.1m | ▼ 2.7% |
| Equity10/15 | €293,983 | €311,249 | €626,379 | €400,224 | €301,493 | ▼ 24.7% |
| Contributions10/11 | €187,000 | €187,000 | €205,600 | €205,600 | €205,600 | = |
| Capital10 | €187,000 | €187,000 | €205,600 | €205,600 | €205,600 | = |
| Issued capital100 | €187,000 | €187,000 | €205,600 | €205,600 | €205,600 | = |
| Revaluation surpluses12 | - | - | €407,318 | €407,318 | €300,827 | ▼ 26.1% |
| Reserves13 | €59,700 | €60,600 | €10,400 | €10,400 | €10,400 | = |
| Non-distributable reserves130/1 | €8,700 | €9,600 | €10,400 | €10,400 | €10,400 | = |
| Legal reserve130 | €8,700 | €9,600 | €10,400 | €10,400 | €10,400 | = |
| Distributable reserves133 | €51,000 | €51,000 | - | - | - | - |
| Profit (loss) carried forward14 | €47,283 | €63,649 | €3,060 | -€223,094 | -€215,334 | ▲ 3.5% |
| Amounts payable17/49 | €2.4m | €3.1m | €3.4m | €3.8m | €3.8m | ▼ 0.4% |
| Amounts payable after more than one year17 | €88,186 | €107,306 | €116,021 | €270,977 | €415,387 | ▲ 53.3% |
| Financial debts170/4 | €88,186 | €107,306 | €116,021 | €270,977 | €415,387 | ▲ 53.3% |
| Amounts payable within one year42/48 | €2.3m | €3.0m | €3.3m | €3.5m | €3.4m | ▼ 3.9% |
| Current portion of amounts payable after more than one year42 | €136,543 | €168,342 | €228,826 | €138,733 | €261,837 | ▲ 88.7% |
| Financial debts43 | €837,885 | €911,010 | €1.1m | €950,099 | €886,517 | ▼ 6.7% |
| Credit institutions430/8 | €837,885 | €911,010 | €1.1m | €950,099 | €886,517 | ▼ 6.7% |
| Trade debts44 | €1.1m | €1.4m | €1.6m | €1.5m | €1.0m | ▼ 29.4% |
| Suppliers440/4 | €1.1m | €1.4m | €1.6m | €1.5m | €1.0m | ▼ 29.4% |
| Taxes, remuneration and social security45 | €297,576 | €445,714 | €351,655 | €955,560 | €1.2m | ▲ 23.7% |
| Taxes450/3 | €170,874 | €306,997 | €194,954 | €638,976 | €871,966 | ▲ 36.5% |
| Remuneration and social security454/9 | €126,702 | €138,717 | €156,701 | €316,584 | €310,466 | ▼ 1.9% |
| Other amounts payable47/48 | €8,430 | €15,126 | €23,472 | €27,941 | €31,707 | ▲ 13.5% |
| Accrued charges and deferred income492/3 | €1,223 | €3,589 | €2,461 | €22,991 | €1,771 | ▼ 92.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,342 | €17,266 | €15,160 | -€226,155 | -€98,731 | ▲ 56.3% |
| + Depreciation and write-downs630 | €89,100 | €87,695 | €112,857 | €173,499 | €205,585 | ▲ 18.5% |
| Operating cash flow (approximation) | €121,442 | €104,961 | €128,017 | -€52,656 | €106,854 | ▲ 303% |
| Investment in fixed assets (approximation) | - | -€79,493 | -€935,660 | -€312,720 | -€172,903 | ▲ 44.7% |
| Change in cash | - | €5,727 | -€10,928 | €16,691 | -€19,027 | ▼ 214% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
25-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 25 days late
2024
31-12
Financial
Weakest financial yearnet -€226,155
Net result drops to -€226,155, the lowest in the series; recovery starts the following year.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €500,000Eq €626,379 ▲101%
6 profitable years in a row build equity to €626,379.
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
12-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Highest result since 2018net €34,149 ▲214%
Net result €34,149, the highest in the series.
31-12
Financial
Equity above €200,000Eq €246,239 ▲183%
2 profitable years in a row build equity to €246,239.
03-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
06-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 6 days late
2017
21-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 21 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, Blégny · 1 establishment unit since 1995
Ground area
3,344 m²
Building footprint
161 m²
Volume, LiDAR
943 m³
Parcel 62095A0088/00B000, Wallonia · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue Légipont 12, 4671 Blégny
since 19952.072.512.292
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62095A0088/00B000 | Wallonia | 3,344 m² | 1 · 161 m² | 8.6 m · 2 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.
Structure & network
Owners and holdings
2 ownersChain of control
- DHEUR
- MAISON GILSON
Highest known parent: DHEUR. The sources do not say who stands above it.
Owners 2
- DHEURparent100%
- LRJ HOLDINGparent100%
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBlégny2.072.512.292
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Of 2,499 companies in sector 46649 we hold annual accounts for 1,761. 1,340 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded14-07-1995
Fiscal year end31-12
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0455546246
Registered
05-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.