G.B.S. RECYCLING
ActiveSummary
The computed 12-month bankruptcy probability of G.B.S. RECYCLING is 1.8% (moderate). The 2024 annual accounts show equity of €1.27M and a net result of €134k. Equity is growing by ~16% per year across the filed fiscal years. Its solvency ranks better than 87% of 9038 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
72
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability80▼-5
Solvency100▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
1.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity ample (current ratio 7.96 against 3.67 in 2023; short-term debt: 10% and cash: 5.9% of total assets), and 17.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
Sector 46
higher
← 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 2024Solvency, return and age of the figures
Solvency
82.1%
Return on assets
8.7%
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 29-06-2025, 32 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
not confirmed
2024
32 d early
2023
30 d early
2022
4 d late
2021
31 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€1.27M▲ 11.8%
2023 · €1.14M
2021: €772k
2022: €938k
2023: €1.14M
2021 → 2024
Total assets
€1.55M▲ 1.4%
2023 · €1.53M
2021: €1.13M
2022: €1.34M
2023: €1.53M
2021 → 2024
Net result
€134k▼ 32.5%
2023 · €198k
2021: €600k
2022: €165k
2023: €198k
2021 → 2024
Working capital
€1.08M▲ 36.2%
2023 · €790k
2021: €408k
2022: €479k
2023: €790k
2021 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Equity€772k-€938k▲ 21.4%€1.14M▲ 21.1%€1.27M▲ 11.8%
Operating result€777k-€187k▼ 76.0%€252k▲ 34.8%€158k▼ 37.1%
Net result€600k-€165k▼ 72.4%€198k▲ 19.9%€134k▼ 32.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 37% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.55M
Fixed assets
€316k ▼ 28.0%
Current assets
€1.23M ▲ 13.3%
Equity and liabilities €1.55M
Equity
€1.27M ▲ 11.8%
Debt
€276k ▼ 29.0%
Debt's share of the balance-sheet total falls from 25.5% to 17.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€455k▲
2023 · €424k
Cash flow
€431k▲
2023 · €371k
Current ratio
7.96▲
2023 · 3.67
Debt to equity
0.22▼
2023 · 0.34
ROE
10.5%▼
2023 · 17.5%
ROA
8.7%▼
2023 · 13.0%
Interest coverage
322.22▲
2023 · 138.93
Debt ≤ 1 year
€154k▼
2023 · €296k
Debt > 1 year
€122k▲
2023 · €93k
Income taxes
€39k▼
2023 · €63k
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 · 45 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.53M€1.55M▲
Fixed assets21/28€439k€316k▼
Tangible fixed assets22/27€438k€314k▼
Plant, machinery and equipment23€354k€153k▼
Furniture and vehicles24€84k€162k▲
Financial fixed assets28€2k€2k=
Current assets29/58€1.09M€1.23M▲
Amounts receivable after more than one year29€593k€756k▲
Trade receivables290€593k€756k▲
Amounts receivable within one year40/41€488k€377k▼
Trade receivables40€482k€369k▼
Other amounts receivable41€6k€9k▲
Cash at bank and in hand54/58€1k€91k▲
Deferred charges and accrued income490/1€3k€5k▲
Equity and liabilities
Total equity and liabilities10/49€1.53M€1.55M▲
Equity10/15€1.14M€1.27M▲
Contributions10/11€12k€12k=
Reserves13€1k€1k=
Non-distributable reserves130/1€1k€1k=
Reserves not available under the articles1311€1k€1k=
Profit (loss) carried forward14€1.12M€1.26M▲
Amounts payable17/49€389k€276k▼
Amounts payable after more than one year17€93k€122k▲
Other amounts payable178/9€93k€122k▲
Amounts payable within one year42/48€296k€154k▼
Current portion of amounts payable after more than one year42€13k-
Trade debts44€166k€65k▼
Suppliers440/4€166k€65k▼
Taxes, remuneration and social security45€117k€89k▼
Taxes450/3€117k€89k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€173k€297k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€70k€36k▼
Other operating charges640/8€16k€5k▼
Gross operating margin9900€510k€497k▼
Operating profit (loss)9901€252k€158k▼
Financial income75/76B€13k€16k▲
Recurring financial income75€13k€16k▲
Financial charges65/66B€3k€1k▼
Recurring financial charges65€3k€1k▼
Profit (loss) for the period before taxes9903€261k€173k▼
Income taxes67/77€63k€39k▼
Profit (loss) for the period9904€198k€134k▼
Profit (loss) for the period to be appropriated9905€198k€134k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.12M€1.26M▲
Profit (loss) brought forward from the previous period14P€924k€1.12M▲
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €134k ▼32.5%
Net result drops to €134k, the lowest in the series.
31-12
Financial
Liquidity doublescurrent ratio 7.96
Current ratio from 3.67 to 7.96; short-term debt falls from €296k to €154k.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €1MEq €1.14M ▲21.1%
3 profitable years in a row build equity to €1.14M.
04-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 4 days late
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Zottegem · 2 establishment units since 2020
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Keistraat 59620 ZottegemGround area
1.2 ha
Building footprint
1,804 m²
Volume, LiDAR
5,737 m³
2 parcels, Flanders · tallest building 7.0 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
G.B.S. RECYCLING
since 20202.304.370.996
Wassenhovestraat 1, 9620 Zottegem
since 20262.392.215.879
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41023A1349/00C000 | Flanders | 9,998 m² | 1 · 830 m² | - |
| 41023A0744/00T000 | Flanders | 2,075 m² | 1 · 974 m² | 7.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteZottegem
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Of 126 companies in sector 46879 we hold annual accounts for 58. 38 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-07-2020
Fiscal year end31-12
Activities, NACEBEL 2025
46879Wholesale trade
43110Demolition
77399Renting and leasing of other machinery, equipment and tangible goods
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.