GLASS INVEST
ActiveSummary
GLASS INVEST has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €15.13M and a net result of €-144k. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 81% of 5989 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability36▼-25
Solvency97▲+2
Growth35=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €22k at 30 days only on tighter terms
Liquidity short (current ratio 0.6 against 6.44 in 2023; short-term debt: 3% and cash: 0% of total assets), and 28.4% 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
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 · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 14-11-2025, 106 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
106 d late
2023
26 d early
2022
33 d early
2021
40 d early
2020
23 d early
2019
49 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€228k▼ 44.1%
2023 · €408k
2018: €704k
2022: €943khighest value
2023: €408k▼ -56.7% vs 2022
2024: €228k▼ -44.1% vs 2023lowest value
2018 → 2024
EBIT margin
30.8%▼ 23.4pp
2023 · 54.3%
2018: 75.2%highest value
2022: 55.9%
2023: 54.3%▼ -2.9% vs 2022
2024: 30.8%▼ -43.2% vs 2023lowest value
2018 → 2024
Net result
€-144k
2023 · €2.02M
2018: €5.13Mhighest in 7 years
2019: €145k▼ -97.2% vs 2018
2020: €1.28M▲ +781% vs 2019
2021: €2.54M▲ +98.1% vs 2020
2022: €211k▼ -91.7% vs 2021
2023: €2.02M▲ +855% vs 2022
2024: €-144k▼ -107% vs 2023lowest in 7 years
2018 → 2024
Working capital
€-253k
2023 · €2.31M
2018: €2.35Mhighest in 7 years
2019: €1.78M▼ -24.2% vs 2018
2020: €-174k▼ -110% vs 2019
2021: €1.73M▲ +1091% vs 2020
2022: €2.10M▲ +21.7% vs 2021
2023: €2.31M▲ +10.3% vs 2022
2024: €-253k▼ -111% vs 2023lowest in 7 years
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€943k€408k▼ 56.7%€228k▼ 44.1%
2022: €943khighest in 3 years
2023: €408k▼ -56.7% vs 2022
2024: €228k▼ -44.1% vs 2023lowest in 3 years
Equity€10.50M-€13.04M▲ 24.2%€13.25M▲ 1.6%€15.27M▲ 15.2%€15.13M▼ 0.9%
2020: €10.50Mlowest in 5 years
2021: €13.04M▲ +24.2% vs 2020
2022: €13.25M▲ +1.6% vs 2021
2023: €15.27M▲ +15.2% vs 2022highest in 5 years
2024: €15.13M▼ -0.9% vs 2023
Operating result€522k-€531k▲ 1.8%€527k▼ 0.8%€221k▼ 58.0%€70k▼ 68.3%
2020: €522k
2021: €531k▲ +1.8% vs 2020highest in 5 years
2022: €527k▼ -0.8% vs 2021
2023: €221k▼ -58.0% vs 2022
2024: €70k▼ -68.3% vs 2023lowest in 5 years
Net result€1.28M-€2.54M▲ 98.1%€211k▼ 91.7%€2.02M▲ 855%€-144k
2020: €1.28M
2021: €2.54M▲ +98.1% vs 2020highest in 5 years
2022: €211k▼ -91.7% vs 2021
2023: €2.02M▲ +855% vs 2022
2024: €-144k▼ -107% vs 2023lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2024 is 68% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €21.13M
Fixed assets
€20.75M ▲ 9.0%
Current assets
€381k ▼ 86.1%
Equity and liabilities €21.13M
Equity
€15.13M ▼ 0.9%
Debt
€6.01M ▼ 7.8%
Debt's share of the balance-sheet total falls from 29.9% to 28.4%. Equity and debt are lower.
Key figures and ratios
Current ratio
0.60▼
2023 · 6.44
Debt to equity
0.40▼
2023 · 0.43
ROE
-1.0%▼
2023 · 13.2%
ROA
-0.7%▼
2023 · 9.3%
Debt ≤ 1 year
€634k▲
2023 · €426k
Debt > 1 year
€5.37M▼
2023 · €6.09M
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 · 66 lines
Balance sheet
Code20232024
Assets
Total assets20/58€21.79M€21.13M▼
Fixed assets21/28€19.05M€20.75M▲
Financial fixed assets28€19.05M€20.75M▲
Affiliated companies280/1€19.05M€20.75M▲
Participating interests280€19.05M€19.05M=
Amounts receivable281€0€1.70M▲
Other financial fixed assets284/8€0-
Amounts receivable and cash guarantees285/8€0-
Current assets29/58€2.74M€381k▼
Amounts receivable after more than one year29€360k€360k=
Other amounts receivable291€360k€360k=
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€2.14M€11k▼
Trade receivables40€5k€11k▲
Other amounts receivable41€2.13M€0▼
Cash at bank and in hand54/58€241k€10k▼
Equity and liabilities
Total equity and liabilities10/49€21.79M€21.13M▼
Equity10/15€15.27M€15.13M▼
Contributions10/11€4.00M€4.00M=
Capital10€4.00M€4.00M=
Issued capital100€4.00M€4.00M=
Reserves13€303k€303k=
Non-distributable reserves130/1€303k€303k=
Legal reserve130€303k€303k=
Profit (loss) carried forward14€10.97M€10.82M▼
Amounts payable17/49€6.52M€6.01M▼
Amounts payable after more than one year17€6.09M€5.37M▼
Financial debts170/4€6.09M€5.37M▼
Credit institutions173€3.74M€3.11M▼
Other loans174€2.36M€2.27M▼
Amounts payable within one year42/48€426k€634k▲
Current portion of amounts payable after more than one year42€362k€539k▲
Trade debts44€43k€15k▼
Suppliers440/4€43k€15k▼
Taxes, remuneration and social security45€21k€4k▼
Taxes450/3€21k€4k▼
Other amounts payable47/48€0€76k▲
Accrued charges and deferred income492/3€0-
Income statement
Code20232024
Operating income70/76A€408k€228k▼
Turnover70€408k€228k▼
Other operating income74€0-
Operating charges60/66A€187k€158k▼
Services and other goods61€185k€157k▼
Other operating charges640/8€1k€1k▲
Operating profit (loss)9901€221k€70k▼
Financial income75/76B€2.14M€89k▼
Recurring financial income75€2.14M€89k▼
Income from financial fixed assets750€2.05M€0▼
Income from current assets751€91k€82k▼
Other financial income752/9€3k€7k▲
Non-recurring financial income76B€0-
Financial charges65/66B€348k€303k▼
Recurring financial charges65€348k€303k▼
Debt charges650€348k€303k▼
Other financial charges652/9€771€338▼
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€2.02M€-144k▼
Income taxes67/77€0-
Taxes670/3€0-
Tax adjustments and reversals of tax provisions77€0-
Profit (loss) for the period9904€2.02M€-144k▼
Profit (loss) for the period to be appropriated9905€2.02M€-144k▼
Appropriation of the result
Profit (loss) to be appropriated9906€11.07M€10.82M▼
Profit (loss) brought forward from the previous period14P€9.05M€10.97M▲
Transfer to equity691/2€102k€0▼
To the legal reserve6920€102k€0▼
The notes to these accounts (42 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €1.10M | €408k | €228k | ▼ 44.1% |
| Turnover70 | - | - | €943k | €408k | €228k | ▼ 44.1% |
| Other operating income74 | - | - | €158k | €0 | - | - |
| Operating charges60/66A | - | - | €574k | €187k | €158k | ▼ 15.5% |
| Services and other goods61 | - | - | €573k | €185k | €157k | ▼ 15.6% |
| Other operating charges640/8 | - | €969 | €970 | €1k | €1k | ▲ 1.5% |
| Gross operating margin9900 | €523k | €532k | - | - | - | - |
| Operating profit (loss)9901 | €522k | €531k | €527k | €221k | €70k | ▼ 68.3% |
| Financial income75/76B | - | €2.54M | €751k | €2.14M | €89k | ▼ 95.8% |
| Recurring financial income75 | €1.22M | €2.53M | €35k | €2.14M | €89k | ▼ 95.8% |
| Income from financial fixed assets750 | - | - | €0 | €2.05M | €0 | ▼ 100% |
| Income from current assets751 | - | - | €35k | €91k | €82k | ▼ 9.0% |
| Other financial income752/9 | - | - | €0 | €3k | €7k | ▲ 113% |
| Non-recurring financial income76B | - | €3k | €716k | €0 | - | - |
| Financial charges65/66B | - | €515k | €999k | €348k | €303k | ▼ 13.0% |
| Recurring financial charges65 | €345k | €365k | €361k | €348k | €303k | ▼ 13.0% |
| Debt charges650 | - | - | €360k | €348k | €303k | ▼ 12.9% |
| Other financial charges652/9 | - | - | €483 | €771 | €338 | ▼ 56.1% |
| Non-recurring financial charges66B | - | €150k | €639k | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €1.33M | €2.55M | €279k | €2.02M | €-144k | ▼ 107% |
| Income taxes67/77 | €44k | €13k | €68k | €0 | - | - |
| Taxes670/3 | - | - | €68k | €0 | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | €90 | €0 | - | - |
| Profit (loss) for the period9904 | €1.28M | €2.54M | €211k | €2.02M | €-144k | ▼ 107% |
| Profit (loss) for the period to be appropriated9905 | €1.28M | €2.54M | €211k | €2.02M | €-144k | ▼ 107% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €20.43M | €22.02M | €22.31M | €21.79M | €21.13M | ▼ 3.0% |
| Fixed assets21/28 | €18.92M | €18.86M | €19.67M | €19.05M | €20.75M | ▲ 9.0% |
| Financial fixed assets28 | €18.92M | €18.86M | €19.67M | €19.05M | €20.75M | ▲ 9.0% |
| Affiliated companies280/1 | - | - | €19.19M | €19.05M | €20.75M | ▲ 9.0% |
| Participating interests280 | - | - | €19.05M | €19.05M | €19.05M | = |
| Amounts receivable281 | - | - | €140k | €0 | €1.70M | - |
| Companies linked by participating interests282/3 | - | - | €0 | - | - | - |
| Participating interests282 | - | - | €0 | - | - | - |
| Amounts receivable283 | - | - | €0 | - | - | - |
| Other financial fixed assets284/8 | - | - | €485k | €0 | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | €485k | €0 | - | - |
| Current assets29/58 | €1.52M | €3.16M | €2.64M | €2.74M | €381k | ▼ 86.1% |
| Amounts receivable after more than one year29 | - | - | - | €360k | €360k | = |
| Other amounts receivable291 | - | - | - | €360k | €360k | = |
| Stocks and contracts in progress3 | - | - | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €1.41M | €3.07M | €2.08M | €2.14M | €11k | ▼ 99.5% |
| Trade receivables40 | - | €0 | - | €5k | €11k | ▲ 132% |
| Other amounts receivable41 | - | €3.07M | €2.08M | €2.13M | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €106k | €88k | €562k | €241k | €10k | ▼ 95.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €20.43M | €22.02M | €22.31M | €21.79M | €21.13M | ▼ 3.0% |
| Equity10/15 | €10.50M | €13.04M | €13.25M | €15.27M | €15.13M | ▼ 0.9% |
| Contributions10/11 | €4.00M | €4.00M | €4.00M | €4.00M | €4.00M | = |
| Capital10 | - | €4.00M | €4.00M | €4.00M | €4.00M | = |
| Issued capital100 | - | €4.00M | €4.00M | €4.00M | €4.00M | = |
| Reserves13 | €64k | €191k | €202k | €303k | €303k | = |
| Non-distributable reserves130/1 | - | €191k | €202k | €303k | €303k | = |
| Legal reserve130 | - | €191k | €202k | €303k | €303k | = |
| Profit (loss) carried forward14 | €6.44M | €8.85M | €9.05M | €10.97M | €10.82M | ▼ 1.3% |
| Amounts payable17/49 | €9.93M | €8.98M | €9.06M | €6.52M | €6.01M | ▼ 7.8% |
| Amounts payable after more than one year17 | €8.24M | €7.54M | €8.51M | €6.09M | €5.37M | ▼ 11.8% |
| Financial debts170/4 | - | €7.54M | €8.51M | €6.09M | €5.37M | ▼ 11.8% |
| Subordinated loans170 | - | - | €0 | - | - | - |
| Credit institutions173 | - | - | €4.78M | €3.74M | €3.11M | ▼ 16.8% |
| Other loans174 | - | - | €3.73M | €2.36M | €2.27M | ▼ 3.9% |
| Amounts payable within one year42/48 | €1.69M | €1.43M | €540k | €426k | €634k | ▲ 49.0% |
| Current portion of amounts payable after more than one year42 | - | €921k | €0 | €362k | €539k | ▲ 49.2% |
| Trade debts44 | €39k | €21k | €27k | €43k | €15k | ▼ 65.2% |
| Suppliers440/4 | - | €21k | €27k | €43k | €15k | ▼ 65.2% |
| Taxes, remuneration and social security45 | - | €19k | €32k | €21k | €4k | ▼ 81.6% |
| Taxes450/3 | - | €19k | €32k | €21k | €4k | ▼ 81.6% |
| Other amounts payable47/48 | - | €471k | €480k | €0 | €76k | - |
| Accrued charges and deferred income492/3 | - | €5k | €10k | €0 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.28M | €2.54M | €211k | €2.02M | €-144k | ▼ 107% |
| Operating cash flow (approximation) | €1.28M | €2.54M | €211k | €2.02M | €-144k | ▼ 107% |
| Investment in fixed assets (approximation) | - | €56k | €-813k | €625k | €-1.70M | ▼ 373% |
| Change in cash | - | €-18k | €474k | €-321k | €-231k | ▲ 28.1% |
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
14-11
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 106 days late
2024
31-12
Financial
Weakest financial yearnet €-144k
Net result drops to €-144k, the lowest in the series.
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity doublescurrent ratio 4.89
Current ratio from 2.20 to 4.89; short-term debt falls from €1.43M to €540k.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity doublescurrent ratio 2.20
Current ratio from 0.90 to 2.20; short-term debt falls from €1.69M to €1.43M.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €10MEq €10.50M ▲13.9%
3 profitable years in a row build equity to €10.50M.
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Bornem · 1 establishment unit since 2016
Ground area
1.4 ha
Building footprint
3,163 m²
Volume, LiDAR
25,238 m³
Parcel 12007C0269/00S000, Flanders · tallest building 11.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Glass Invest N.V.
since 20162.261.279.737
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12007C0269/00S000 | Flanders | 1.4 ha | 1 · 3,163 m² | 11.1 m · 3 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
Ownership & control
1 parent companyControl over this companyparent company per the LEI register1
Bornem
controls
GLASS INVESTBE 0665.863.527
Recognitions · licences · registrations
Legal Entity Identifier
2549008FO91HHYHFOU93
Similar companies · same sector, comparable size
Of 29 companies in sector 46834 we hold annual accounts for 16. 2 are within a factor 10 of this equity. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-11-2016
Fiscal year end31-12
Activities, NACEBEL 2025
46834Wholesale trade
Scores and ratios are computed by Checked and are not a credit decision.