GARNIWAT
GARNIWAT has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €49k and a net result of €-4k. Equity is growing by ~81.3% per year across the filed fiscal years. Its solvency ranks better than 28% of 10877 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
| Equity | €49k |
| Net result | €-4k |
| Staff (FTE) | 2.3 |
| Better than sector | 28% |
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
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).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 13.3% | 42.6% | |
| Net result | €-4k | €6k | |
| Equity | €49k | €60k | |
| Gross operating margin | €142k | €29k | |
| Staff costs | €98k | €37k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | €32k | €34k | €24k | €7k |
| Net profit | €-4k | €-10k | €-17k | €-34k |
| Cash flow | €17k | €13k | €7k | €-8k |
| Staff costs | €98k | €90k | €91k | €101k |
| Income taxes | €2k | €1k | €1k | €1k |
| Dividends | - | - | - | - |
| Total assets | €367k | €373k | €430k | €411k |
| Equity | €49k | €53k | €13k | €-19k |
| Debt | €318k | €320k | €416k | €430k |
| of which ≤ 1y | €316k | €311k | €401k | €410k |
| of which > 1y | €2k | €9k | €15k | €20k |
| Working capital | €10k | €2k | €-31k | €-80k |
| Employees (FTE) | 2.3 | 2.0 | 2.0 | 2.2 |
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 1.03 | 1.01 | 0.92 | 0.81 |
| Quick ratio | 0.45 | 0.46 | 0.49 | 0.39 |
| Working capital ratio | 2.8% | 0.6% | -7.2% | -19.3% |
| Solvency | 13.3% | 14.2% | 3.1% | -4.7% |
| Debt / equity | 6.55 | 6.04 | 31.19 | -22.43 |
| Long-term debt ratio | 0.05 | 0.17 | 1.12 | -1.06 |
| Interest coverage | 1.95 | 1.73 | 1.36 | 0.40 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -1.2% | -2.8% | -4.1% | -8.3% |
| ROE | -9.1% | -19.5% | -130.9% | 177.7% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Full annual accounts (26 line items)
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €367k | €373k | €430k | €411k |
| Fixed assets | 21/28 | €41k | €60k | €59k | €81k |
| Intangible fixed assets | 21 | €0 | €0 | €0 | €0 |
| Tangible fixed assets | 22/27 | €41k | €60k | €59k | €81k |
| Financial fixed assets | 28 | €68 | €68 | €68 | €34 |
| Current assets | 29/58 | €326k | €313k | €370k | €330k |
| Stocks & contracts in progress | 3 | €183k | €171k | €173k | €170k |
| Amounts receivable within one year | 40/41 | €88k | €81k | €87k | €106k |
| Cash & bank | 54/58 | €26k | €39k | €79k | €27k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €367k | €373k | €430k | €411k |
| Equity | 10/15 | €49k | €53k | €13k | €-19k |
| Contributions / capital | 10/11 | €119k | €119k | €69k | €19k |
| Reserves | 13 | €53k | €53k | €53k | €53k |
| Accumulated profits (losses) | 14 | €-123k | €-119k | €-108k | €-91k |
| Amounts payable | 17/49 | €318k | €320k | €416k | €430k |
| Amounts payable after one year | 17 | €2k | €9k | €15k | €20k |
| Amounts payable within one year | 42/48 | €316k | €311k | €401k | €410k |
| Trade debts payable within one year | 44 | €19k | €22k | €24k | €52k |
| Income statement | |||||
| Gross operating margin | 9900 | €142k | €132k | €125k | €122k |
| Operating result | 9901 | €11k | €10k | €-215 | €-19k |
| Financial income | 75 | €2k | €354 | €2k | €5k |
| Financial charges | 65 | €17k | €19k | €18k | €19k |
| Result before taxes | 9903 | €-3k | €-9k | €-16k | €-33k |
| Income taxes | 67/77 | €2k | €1k | €1k | €1k |
| Net result for the period | 9904 | €-4k | €-10k | €-17k | €-34k |
| Result to be appropriated | 9905 | €-4k | €-10k | €-17k | €-34k |
| NACE primary | Wholesale trade(46442) |
| Legal form | Private limited company(610) |
| Incorporation | 15-12-1982 |
| Status | Active |
| Postal code | 3545 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71020B0090/00D000 | Flanders | 6,292 m² | 1 · 3,015 m² | 7.6 m · 1 fl. |
25-01-2024 Publication in the Belgian Official Gazette, Minor change
Technical details
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}| Legal nameNL | GARNIWAT |