G.G.-Projects · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of G.G.-Projects is 1.8% (moderate). The 2024 annual accounts show equity of €385k and a net result of €70k. Equity is growing by ~25.8% per year across the filed fiscal years. Its solvency ranks better than 62% of 3838 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 5 annual accounts.

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2023 and 2024).

View the result trend

Growing equity

Equity grew over 2022-2024. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 17 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 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.

How we compute the deadline

The year end is derived from 5 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	26-08-2025	26 d late	2025-00402437
31-12-2023	31-07-2024	14-08-2024	14 d late	2024-00344425
31-12-2022	31-07-2023	30-08-2023	30 d late	2023-00375128
31-12-2021	31-07-2022	16-08-2022	16 d late	2022-20289224
31-12-2020	31-07-2021	15-06-2021	46 d early	2021-20300449

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2019, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

1.8% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

Turnover€955k

EBIT margin9.4%

Net result€70k+172.1%

Working capital€263k+4.2%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 26-08-2025 with the NBB · fiscal year 2024 · micro

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~25.8%/year over 5 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 41, Construction of buildings · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	49.8%	39.5%	better than 62% of 3838 sector peers
Net result	€70k	€9k	better than 94% of 3834 sector peers
Equity	€385k	€29k	better than 95% of 3843 sector peers
Gross operating margin	€192k	€26k	better than 95% of 3831 sector peers
Staff costs	€57k	€16k	higher than 75% of 1129 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P62

Stable position over 2020-2024 · n=495-3838

Net result P94

Stable position over 2020-2024 · n=493-3834

Equity P95

Stable position over 2020-2024 · n=498-3843

Gross operating margin P95

Stable position over 2020-2024 · n=494-3831

Describes the position versus peers, not a forecast.

Revenue

€955k

- 20-24

EBITDA

€127k

+53.2% 20-24

Net profit

€70k

+172.1% 20-24

Cash flow

€97k

+63.7% 20-24

Total assets

€774k

+8.4% 20-24

Equity

€385k

+22.1% 20-24

Working capital

€263k

+4.2% 20-24

Employees (FTE)

1

0.0% 20-24

Show 14 other metrics

Staff costs

€57k

-4.1% 20-24

Income taxes

€27k

+155.9% 20-24

Debt

€388k

-2.5% 20-24

Debt ≤ 1y

€155k

-57.0% 20-24

Debt > 1y

€233k

+517.0% 20-24

Current ratio

2.70

+58.7% 20-24

Quick ratio

1.64

+610.1% 20-24

Solvency

49.8%

+12.6% 20-24

Debt / equity

1.01

-20.1% 20-24

ROE

18.1%

+122.9% 20-24

ROA

9.0%

+151.0% 20-24

Net margin

6.3%

- 20-24

EBITDA margin

10.9%

- 20-24

Interest coverage

19.45

+245.1% 20-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€127k
Net profit	€70k
Cash flow	€97k
Staff costs	€57k
Income taxes	€27k
Dividends	-
Total assets	€774k
Equity	€385k
Debt	€388k
of which ≤ 1y	€155k
of which > 1y	€233k
Working capital	€263k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	2.70
Quick ratio	1.64
Working capital ratio	34.0%
Solvency	49.8%
Debt / equity	1.01
Long-term debt ratio	0.61
Interest coverage	19.45
Gross margin	-
Net margin	-
ROA	9.0%
ROE	18.1%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €356k · 46.0% Current assets €418k · 54.0%

Equity & liabilities

Equity €385k · 49.8% Debt €388k · 50.2%

Full annual accounts (25 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€774k
Fixed assets	21/28	€356k
Tangible fixed assets	22/27	€355k
Financial fixed assets	28	€530
Current assets	29/58	€418k
Stocks & contracts in progress	3	€164k
Amounts receivable within one year	40/41	€42k
Cash & bank	54/58	€208k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€774k
Equity	10/15	€385k
Contributions / capital	10/11	€19k
Reserves	13	€227k
Accumulated profits (losses)	14	€140k
Amounts payable	17/49	€388k
Amounts payable after one year	17	€233k
Amounts payable within one year	42/48	€155k
Trade debts payable within one year	44	€67k
Income statement
Gross operating margin	9900	€192k
Operating result	9901	€100k
Financial income	75	€3k
Financial charges	65	€7k
Result before taxes	9903	€97k
Income taxes	67/77	€27k
Net result for the period	9904	€70k
Result to be appropriated	9905	€70k

This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

94 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Establishment units

1 location

G.G.-Projects

Cijnsstraat 37, 9880 AalterOntwikkeling van residentiële bouwprojecten

since 20192.287.624.739

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area1,386 m²

Buildings1

Building footprint165 m²

Volume (LiDAR)654 m³

Tallest building5.5 m · ±1 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)