GPS2
ActiveSummary
GPS2 has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €449k and a net result of €53k. Equity is shrinking by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 43% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+2
Solvency56▼-17
Growth30=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity short (current ratio 0.1 against 0.1 in 2024; short-term debt: 68.2% and cash: 0% of total assets), and 69.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 →
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
30.7%
Return on assets
3.6%
Age of the figures
9 mo
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
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 28-04-2026, 94 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
94 d early
2024
59 d early
2023
71 d early
2022
84 d early
2021
18 d early
2020
74 d early
2019
80 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€478k▲ 19.8%
2021 · €399k
2018: €524k
2019: €525k▲ +0.2% vs 2018highest in 5 years
2020: €520k▼ -0.8% vs 2019
2021: €399k▼ -23.4% vs 2020lowest in 5 years
2022: €478k▲ +19.8% vs 2021
2018 → 2022
EBIT margin
34.1%▲ 17.2pp
2021 · 16.9%
2018: 38.8%highest in 5 years
2019: 23.0%▼ -40.8% vs 2018
2020: 25.4%▲ +10.5% vs 2019
2021: 16.9%▼ -33.6% vs 2020lowest in 5 years
2022: 34.1%▲ +102% vs 2021
2018 → 2022
Net result
€53k▲ 131%
2024 · €23k
2018: €145khighest in 8 years
2019: €86k▼ -40.8% vs 2018
2020: €103k▲ +19.1% vs 2019
2021: €43k▼ -57.8% vs 2020
2022: €120k▲ +178% vs 2021
2023: €30k▼ -74.8% vs 2022
2024: €23k▼ -24.2% vs 2023lowest in 8 years
2025: €53k▲ +131% vs 2024
2018 → 2025
Working capital
€-892k▼ 33.8%
2024 · €-666k
2018: €82k
2019: €244k▲ +196% vs 2018highest in 8 years
2020: €-66k▼ -127% vs 2019
2021: €-84k▼ -26.4% vs 2020
2022: €-198k▼ -136% vs 2021
2023: €-110k▲ +44.2% vs 2022
2024: €-666k▼ -504% vs 2023
2025: €-892k▼ -33.8% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€399k-€478k▲ 19.8%
2021: €399k
2022: €478k▲ +19.8% vs 2021
Equity€772k-€892k▲ 15.6%€922k▲ 3.4%€695k▼ 24.6%€449k▼ 35.5%
2021: €772k
2022: €892k▲ +15.6% vs 2021
2023: €922k▲ +3.4% vs 2022highest in 5 years
2024: €695k▼ -24.6% vs 2023
2025: €449k▼ -35.5% vs 2024lowest in 5 years
Operating result€67k-€163k▲ 142%€53k▼ 67.4%€35k▼ 33.5%€94k▲ 167%
2021: €67k
2022: €163k▲ +142% vs 2021highest in 5 years
2023: €53k▼ -67.4% vs 2022
2024: €35k▼ -33.5% vs 2023lowest in 5 years
2025: €94k▲ +167% vs 2024
Net result€43k-€120k▲ 178%€30k▼ 74.8%€23k▼ 24.2%€53k▲ 131%
2021: €43k
2022: €120k▲ +178% vs 2021highest in 5 years
2023: €30k▼ -74.8% vs 2022
2024: €23k▼ -24.2% vs 2023lowest in 5 years
2025: €53k▲ +131% vs 2024
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 167% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.46M
Fixed assets
€1.36M ▼ 1.2%
Current assets
€103k ▲ 40.5%
Equity and liabilities €1.46M
Equity
€449k ▼ 35.5%
Provisions
€628 ▼ 25.0%
Debt
€1.01M ▲ 34.6%
Debt's share of the balance-sheet total rises from 51.9% to 69.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€176k▲
2024 · €91k
Cash flow
€135k▲
2024 · €79k
Current ratio
0.10▲
2024 · 0.10
Debt to equity
2.25▲
2024 · 1.08
ROE
11.9%▲
2024 · 3.3%
ROA
3.6%▲
2024 · 1.6%
Interest coverage
7.51▼
2024 · 19.13
Debt ≤ 1 year
€995k▲
2024 · €740k
Income taxes
€18k▲
2024 · €8k
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 · 2025 against 2024 · 56 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.45M€1.46M▲
Formation expenses20€0€0=
Fixed assets21/28€1.37M€1.36M▼
Tangible fixed assets22/27€1.37M€1.36M▼
Land and buildings22€1.26M€1.25M▼
Plant, machinery and equipment23€113k€106k▼
Current assets29/58€73k€103k▲
Amounts receivable within one year40/41€36k€101k▲
Trade receivables40€29k€91k▲
Other amounts receivable41€7k€9k▲
Current investments50/53€34k€716▼
Cash at bank and in hand54/58€48€48=
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€1.45M€1.46M▲
Equity10/15€695k€449k▼
Contributions10/11€100k€100k=
Capital10€100k€100k=
Issued capital100€100k€100k=
Reserves13€249k€249k▼
Non-distributable reserves130/1€10k€10k=
Legal reserve130€10k€10k=
Tax-exempt reserves132€15k€14k▼
Distributable reserves133€225k€225k=
Profit (loss) carried forward14€346k€100k▼
Provisions and deferred taxes16€837€628▼
Deferred taxes168€837€628▼
Amounts payable17/49€751k€1.01M▲
Amounts payable after more than one year17€3k-
Other amounts payable178/9€3k-
Amounts payable within one year42/48€740k€995k▲
Trade debts44€248k€86k▼
Suppliers440/4€248k€86k▼
Taxes, remuneration and social security45€326-
Taxes450/3€326-
Other amounts payable47/48€491k€909k▲
Accrued charges and deferred income492/3€7k€15k▲
Income statement
Code20242025
Non-recurring operating income76A€4k€18k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€56k€81k▲
Other operating charges640/8€70k€72k▲
Non-recurring operating charges66A-€697
Gross operating margin9900€161k€249k▲
Operating profit (loss)9901€35k€94k▲
Financial income75/76B€65-
Recurring financial income75€65-
Financial charges65/66B€5k€23k▲
Recurring financial charges65€5k€23k▲
Profit (loss) for the period before taxes9903€31k€71k▲
Transfer from deferred taxes780€209€209=
Income taxes67/77€8k€18k▲
Profit (loss) for the period9904€23k€53k▲
Transfer from tax-exempt reserves789€406€406=
Profit (loss) for the period to be appropriated9905€23k€54k▲
Appropriation of the result
Profit (loss) to be appropriated9906€596k€400k▼
Profit (loss) brought forward from the previous period14P€572k€346k▼
Profit to be distributed694/7€250k€300k▲
Return on contributions (dividend)694€250k€300k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €416k | €512k | - | - | - | - |
| Turnover70 | €399k | €478k | - | - | - | - |
| Other operating income74 | €17k | €1k | - | - | - | - |
| Non-recurring operating income76A | - | €32k | - | €4k | €18k | ▲ 374% |
| Operating charges60/66A | €349k | €349k | - | - | - | - |
| Services and other goods61 | €237k | €229k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €53k | €59k | €62k | €56k | €81k | ▲ 45.3% |
| Other operating charges640/8 | €60k | €61k | €67k | €70k | €72k | ▲ 3.6% |
| Non-recurring operating charges66A | - | - | - | - | €697 | - |
| Gross operating margin9900 | - | - | €182k | €161k | €249k | ▲ 54.4% |
| Operating profit (loss)9901 | €67k | €163k | €53k | €35k | €94k | ▲ 167% |
| Financial income75/76B | €62 | - | - | €65 | - | - |
| Recurring financial income75 | €62 | - | - | €65 | - | - |
| Income from current assets751 | €62 | - | - | - | - | - |
| Financial charges65/66B | €633 | €3k | €13k | €5k | €23k | ▲ 390% |
| Recurring financial charges65 | €633 | €3k | €10k | €5k | €23k | ▲ 390% |
| Debt charges650 | €424 | €2k | - | - | - | - |
| Other financial charges652/9 | €208 | €231 | - | - | - | - |
| Non-recurring financial charges66B | €0 | - | €3k | - | - | - |
| Profit (loss) for the period before taxes9903 | €67k | €160k | €40k | €31k | €71k | ▲ 132% |
| Transfer from deferred taxes780 | €209 | €209 | €209 | €209 | €209 | = |
| Income taxes67/77 | €24k | €40k | €10k | €8k | €18k | ▲ 129% |
| Taxes670/3 | €24k | €40k | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | - | €0 | - | - | - | - |
| Profit (loss) for the period9904 | €43k | €120k | €30k | €23k | €53k | ▲ 131% |
| Transfer from tax-exempt reserves789 | €406 | €406 | €406 | €406 | €406 | = |
| Profit (loss) for the period to be appropriated9905 | €44k | €121k | €31k | €23k | €54k | ▲ 129% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.00M | €1.12M | €1.15M | €1.45M | €1.46M | ▲ 0.9% |
| Formation expenses20 | - | - | €0 | €0 | €0 | - |
| Fixed assets21/28 | €880k | €1.10M | €1.04M | €1.37M | €1.36M | ▼ 1.2% |
| Tangible fixed assets22/27 | €880k | €1.10M | €1.04M | €1.37M | €1.36M | ▼ 1.2% |
| Land and buildings22 | €806k | €973k | €923k | €1.26M | €1.25M | ▼ 0.8% |
| Plant, machinery and equipment23 | €74k | €128k | €120k | €113k | €106k | ▼ 6.3% |
| Current assets29/58 | €122k | €16k | €104k | €73k | €103k | ▲ 40.5% |
| Amounts receivable within one year40/41 | €121k | €15k | €101k | €36k | €101k | ▲ 176% |
| Trade receivables40 | €104k | €11k | €101k | €29k | €91k | ▲ 212% |
| Other amounts receivable41 | €17k | €5k | - | €7k | €9k | ▲ 29.4% |
| Current investments50/53 | - | - | €1k | €34k | €716 | ▼ 97.9% |
| Cash at bank and in hand54/58 | €447 | €447 | €48 | €48 | €48 | = |
| Deferred charges and accrued income490/1 | - | - | €2k | €3k | €2k | ▼ 22.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.00M | €1.12M | €1.15M | €1.45M | €1.46M | ▲ 0.9% |
| Equity10/15 | €772k | €892k | €922k | €695k | €449k | ▼ 35.5% |
| Contributions10/11 | €100k | €100k | €100k | €100k | €100k | = |
| Capital10 | €100k | €100k | €100k | €100k | €100k | = |
| Issued capital100 | €100k | €100k | €100k | €100k | €100k | = |
| Reserves13 | €251k | €250k | €250k | €249k | €249k | ▼ 0.2% |
| Non-distributable reserves130/1 | €10k | €10k | €10k | €10k | €10k | = |
| Legal reserve130 | €10k | €10k | €10k | €10k | €10k | = |
| Tax-exempt reserves132 | €16k | €16k | €15k | €15k | €14k | ▼ 2.8% |
| Distributable reserves133 | €225k | €225k | €225k | €225k | €225k | = |
| Profit (loss) carried forward14 | €421k | €542k | €572k | €346k | €100k | ▼ 71.2% |
| Provisions and deferred taxes16 | €1k | €1k | €1k | €837 | €628 | ▼ 25.0% |
| Deferred taxes168 | €1k | €1k | €1k | €837 | €628 | ▼ 25.0% |
| Amounts payable17/49 | €229k | €223k | €224k | €751k | €1.01M | ▲ 34.6% |
| Amounts payable after more than one year17 | €3k | €3k | €3k | €3k | - | - |
| Other amounts payable178/9 | €3k | €3k | €3k | €3k | - | - |
| Amounts payable within one year42/48 | €206k | €214k | €214k | €740k | €995k | ▲ 34.5% |
| Trade debts44 | €131k | €29k | €39k | €248k | €86k | ▼ 65.3% |
| Suppliers440/4 | €131k | €29k | €39k | €248k | €86k | ▼ 65.3% |
| Taxes, remuneration and social security45 | - | - | €326 | €326 | - | - |
| Taxes450/3 | - | - | €326 | €326 | - | - |
| Other amounts payable47/48 | €74k | €185k | €174k | €491k | €909k | ▲ 84.9% |
| Accrued charges and deferred income492/3 | €20k | €6k | €6k | €7k | €15k | ▲ 111% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €43k | €120k | €30k | €23k | €53k | ▲ 131% |
| + Depreciation and write-downs630 | €53k | €59k | €62k | €56k | €81k | ▲ 45.3% |
| Operating cash flow (approximation) | €96k | €179k | €92k | €79k | €135k | ▲ 70.4% |
| Investment in fixed assets (approximation) | - | €-279k | €-5k | €-386k | €-64k | ▲ 83.3% |
| Change in cash | - | €0 | €-399 | €0 | €0 | - |
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
11-09
State Gazette act
Reappointments: COGE4 SRL, FINAWIRS SA and BDOPermanent representatives: Germain PORTIER, Raphaël GRIMONT and 2 others · Resignations: GP IMMO, FINAWIRS SA and COGE4 SRL11 facts ▸
State Gazette act
Reappointments: COGE4 SRL, FINAWIRS SA and BDO
Permanent representatives: Germain PORTIER, Raphaël GRIMONT and 2 others · Resignations: GP IMMO, FINAWIRS SA and COGE4 SRL11 facts ▸
- General meeting, 24-04-2026
- Director reappointment, COGE4 SRL (managing director)
- Permanent representative, Germain PORTIER (permanent representative)
- Director reappointment, FINAWIRS SA (managing director)
- Permanent representative, Raphaël GRIMONT (permanent representative)
- Director resignation, GP IMMO (managing director)
- Director resignation, FINAWIRS SA (managing director)
- Director resignation, COGE4 SRL (day-to-day manager)
- Permanent representative, Pierre PORTIER (permanent representative)
- Permanent representative, Paul PORTIER (permanent representative)
- Auditor reappointment, BDO
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
02-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €23k ▼24.2%
Net result drops to €23k, the lowest in the series; recovery starts the following year.
21-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
08-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
18-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
12-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Liquidity times 9current ratio 11.51
Current ratio from 1.28 to 11.51; short-term debt falls from €294k to €23k.
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
15-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
15-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 17 acts read
About the unread acts
Of the 17 Belgian State Gazette acts we know for this company, 1 has been read. The other 16 have not 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
2 directors, last change in 2026
CoGe4
CurrentManaging director · Private limited company · perm. rep.: Germain PORTIER
FINAWIRS
CurrentManaging director · Public limited company · perm. rep.: Raphaël GRIMONT
24-04-2026
CoGe4: Resigned as Day-to-day manager
24-04-2026
FINAWIRS: Reappointed as Managing director
24-04-2026
GPImmo: Resigned as Managing director
Not every act has been read: a resignation may be missing here
16 of this company's 17 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Flémalle · 1 establishment unit since 2014
Ground area
1,543 m²
Building footprint
397 m²
Volume, LiDAR
2,456 m³
Parcel 62007A0161/00G000, Wallonia · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
21
companies at this address
See who is registered here
1 establishment unit
GPS2
since 20142.230.508.268
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62007A0161/00G000 | Wallonia | 1,543 m² | 1 · 397 m² | 8.7 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.
Statutory auditor
1 auditor| BDOCurrent Auditor · represented by Christian SCHMETZ | 11-09-2026 → present |
Structure & network
Connections & network
4 connected companiesThis company
Company
Director
Shareholding
Click a node to look further, drag to arrange, scroll to zoom.
Linked via shared directors
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Shared corporate director
→
Similar companies · same sector, comparable size
LES SAISONS DU COEUR
BE 0883.351.779
Herstal · Eq €448,649
Claerhout 96 Office Centre
BE 0443.478.159
Gent · Eq €448,755
IMMO MARMA
BE 0839.015.950
Ternat · Eq €448,809
PHILIPPAERTS IMMO
BE 0833.394.997
Alken · Eq €447,932
GEATUEZ
BE 1019.441.096
Mechelen · Eq €447,807
Of 12,041 companies in sector 68203 we hold annual accounts for 5,989. 4,420 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
Founded24-10-2013
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Contact
E-mail
la@group-portier.beFlémalle
Phone
04/273.72.00Flémalle
Fax
04/275.65.09Flémalle
Scores and ratios are computed by Checked and are not a credit decision.