GISEL
ActiveSummary
GISEL has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.26M and a net result of €33k. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 92% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity ample (current ratio 9.53 against 9.54 in 2024; short-term debt: 3.9% and cash: 9.2% of total assets), and 8.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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
91.6%
Return on assets
2.4%
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 26-02-2026, 155 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
155 d early
2024
48 d early
2023
29 d late
2022
28 d late
2021
12 d early
2020
11 d early
2019
28 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, micro schema
Equity
€1.26M▲ 2.7%
2024 · €1.23M
2018: €1.15Mlowest in 8 years
2019: €1.16M▲ +0.9% vs 2018
2020: €1.17M▲ +0.5% vs 2019
2021: €1.18M▲ +0.6% vs 2020
2022: €1.19M▲ +0.7% vs 2021
2023: €1.20M▲ +1.5% vs 2022
2024: €1.23M▲ +1.8% vs 2023
2025: €1.26M▲ +2.7% vs 2024highest in 8 years
2018 → 2025
Total assets
€1.37M▲ 1.5%
2024 · €1.35M
2018: €1.44Mhighest in 8 years
2019: €1.41M▼ -2.3% vs 2018
2020: €1.40M▼ -0.8% vs 2019
2021: €1.38M▼ -1.4% vs 2020
2022: €1.35M▼ -1.8% vs 2021lowest in 8 years
2023: €1.36M▲ +0.2% vs 2022
2024: €1.35M▼ -0.2% vs 2023
2025: €1.37M▲ +1.5% vs 2024
2018 → 2025
Net result
€33k▲ 54.5%
2024 · €21k
2018: €61khighest in 8 years
2019: €10k▼ -83.8% vs 2018
2020: €6k▼ -38.1% vs 2019lowest in 8 years
2021: €7k▲ +16.2% vs 2020
2022: €8k▲ +19.1% vs 2021
2023: €18k▲ +107% vs 2022
2024: €21k▲ +21.4% vs 2023
2025: €33k▲ +54.5% vs 2024
2018 → 2025
Working capital
€454k▲ 8.9%
2024 · €416k
2018: €288k
2019: €296k▲ +2.5% vs 2018
2020: €253k▼ -14.4% vs 2019lowest in 8 years
2021: €271k▲ +7.2% vs 2020
2022: €336k▲ +23.8% vs 2021
2023: €373k▲ +11.0% vs 2022
2024: €416k▲ +11.7% vs 2023
2025: €454k▲ +8.9% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.18M-€1.19M▲ 0.7%€1.20M▲ 1.5%€1.23M▲ 1.8%€1.26M▲ 2.7%
2021: €1.18Mlowest in 5 years
2022: €1.19M▲ +0.7% vs 2021
2023: €1.20M▲ +1.5% vs 2022
2024: €1.23M▲ +1.8% vs 2023
2025: €1.26M▲ +2.7% vs 2024highest in 5 years
Operating result€13k-€2k▼ 87.0%€9k▲ 429%€13k▲ 41.1%€37k▲ 182%
2021: €13k
2022: €2k▼ -87.0% vs 2021lowest in 5 years
2023: €9k▲ +429% vs 2022
2024: €13k▲ +41.1% vs 2023
2025: €37k▲ +182% vs 2024highest in 5 years
Net result€7k-€8k▲ 19.1%€18k▲ 107%€21k▲ 21.4%€33k▲ 54.5%
2021: €7klowest in 5 years
2022: €8k▲ +19.1% vs 2021
2023: €18k▲ +107% vs 2022
2024: €21k▲ +21.4% vs 2023
2025: €33k▲ +54.5% vs 2024highest in 5 years
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 182% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.37M
Fixed assets
€867k ▼ 2.4%
Current assets
€507k ▲ 8.9%
Equity and liabilities €1.37M
Equity
€1.26M ▲ 2.7%
Debt
€115k ▼ 10.1%
Debt's share of the balance-sheet total falls from 9.5% to 8.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€78k▲
2024 · €57k
Cash flow
€74k▲
2024 · €65k
Current ratio
9.53=
2024 · 9.54
Debt to equity
0.09▼
2024 · 0.10
ROE
2.6%▲
2024 · 1.7%
ROA
2.4%▲
2024 · 1.6%
Interest coverage
18.82▲
2024 · 14.25
Debt ≤ 1 year
€53k▲
2024 · €49k
Debt > 1 year
€62k▼
2024 · €80k
Income taxes
€19k▲
2024 · €13k
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 · 45 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.35M€1.37M▲
Fixed assets21/28€888k€867k▼
Tangible fixed assets22/27€623k€604k▼
Land and buildings22€622k€586k▼
Plant, machinery and equipment23€1k€869▼
Furniture and vehicles24€318€17k▲
Financial fixed assets28€265k€263k▼
Current assets29/58€465k€507k▲
Amounts receivable within one year40/41€304k€108k▼
Trade receivables40€15k€5k▼
Other amounts receivable41€289k€104k▼
Current investments50/53-€264k
Cash at bank and in hand54/58€150k€127k▼
Deferred charges and accrued income490/1€11k€8k▼
Equity and liabilities
Total equity and liabilities10/49€1.35M€1.37M▲
Equity10/15€1.23M€1.26M▲
Contributions10/11€12k€12k=
Reserves13€1.21M€1.25M▲
Tax-exempt reserves132€86€86=
Distributable reserves133€1.21M€1.25M▲
Amounts payable17/49€128k€115k▼
Amounts payable after more than one year17€80k€62k▼
Financial debts170/4€80k€62k▼
Amounts payable within one year42/48€49k€53k▲
Current portion of amounts payable after more than one year42€23k€17k▼
Trade debts44€5k€9k▲
Suppliers440/4€5k€9k▲
Taxes, remuneration and social security45€19k€21k▲
Taxes450/3€19k€21k▲
Other amounts payable47/48€2k€7k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€44k€41k▼
Other operating charges640/8€6k€6k▲
Gross operating margin9900€63k€84k▲
Operating profit (loss)9901€13k€37k▲
Financial income75/76B€26k€20k▼
Recurring financial income75€26k€20k▼
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€35k€52k▲
Income taxes67/77€13k€19k▲
Profit (loss) for the period9904€21k€33k▲
Profit (loss) for the period to be appropriated9905€21k€33k▲
Appropriation of the result
Profit (loss) to be appropriated9906€21k€33k▲
Transfer to equity691/2€21k€33k▲
To other reserves6921€21k€33k▲
The notes to these accounts (14 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €11k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €52k | €52k | €44k | €44k | €41k | ▼ 6.5% |
| Other operating charges640/8 | €6k | €6k | €6k | €6k | €6k | ▲ 1.9% |
| Gross operating margin9900 | €72k | €60k | €60k | €63k | €84k | ▲ 32.9% |
| Operating profit (loss)9901 | €13k | €2k | €9k | €13k | €37k | ▲ 182% |
| Financial income75/76B | €152 | €17k | €20k | €26k | €20k | ▼ 23.4% |
| Recurring financial income75 | €152 | €17k | €20k | €26k | €20k | ▼ 23.4% |
| Financial charges65/66B | €2k | €2k | €2k | €4k | €4k | ▲ 3.2% |
| Recurring financial charges65 | €2k | €2k | €2k | €4k | €4k | ▲ 3.2% |
| Profit (loss) for the period before taxes9903 | €11k | €17k | €27k | €35k | €52k | ▲ 50.6% |
| Income taxes67/77 | €4k | €8k | €10k | €13k | €19k | ▲ 44.5% |
| Profit (loss) for the period9904 | €7k | €8k | €18k | €21k | €33k | ▲ 54.5% |
| Profit (loss) for the period to be appropriated9905 | €7k | €8k | €18k | €21k | €33k | ▲ 54.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.38M | €1.35M | €1.36M | €1.35M | €1.37M | ▲ 1.5% |
| Fixed assets21/28 | €1.06M | €977k | €933k | €888k | €867k | ▼ 2.4% |
| Tangible fixed assets22/27 | €764k | €712k | €668k | €623k | €604k | ▼ 3.0% |
| Land and buildings22 | €754k | €709k | €665k | €622k | €586k | ▼ 5.7% |
| Plant, machinery and equipment23 | €2k | €2k | €1k | €1k | €869 | ▼ 19.4% |
| Furniture and vehicles24 | €7k | €1k | €865 | €318 | €17k | ▲ 5,318% |
| Financial fixed assets28 | €295k | €265k | €265k | €265k | €263k | ▼ 0.9% |
| Current assets29/58 | €319k | €376k | €423k | €465k | €507k | ▲ 8.9% |
| Amounts receivable within one year40/41 | €190k | €213k | €239k | €304k | €108k | ▼ 64.4% |
| Trade receivables40 | €25k | €17k | €19k | €15k | €5k | ▼ 68.5% |
| Other amounts receivable41 | €165k | €196k | €219k | €289k | €104k | ▼ 64.2% |
| Current investments50/53 | - | - | - | - | €264k | - |
| Cash at bank and in hand54/58 | €120k | €152k | €177k | €150k | €127k | ▼ 15.6% |
| Deferred charges and accrued income490/1 | €8k | €11k | €8k | €11k | €8k | ▼ 32.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.38M | €1.35M | €1.36M | €1.35M | €1.37M | ▲ 1.5% |
| Equity10/15 | €1.18M | €1.19M | €1.20M | €1.23M | €1.26M | ▲ 2.7% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €1.17M | €1.17M | €1.19M | €1.21M | €1.25M | ▲ 2.7% |
| Tax-exempt reserves132 | €86 | €86 | €86 | €86 | €86 | = |
| Distributable reserves133 | €1.17M | €1.17M | €1.19M | €1.21M | €1.25M | ▲ 2.7% |
| Amounts payable17/49 | €199k | €167k | €152k | €128k | €115k | ▼ 10.1% |
| Amounts payable after more than one year17 | €152k | €126k | €101k | €80k | €62k | ▼ 21.7% |
| Financial debts170/4 | €152k | €126k | €101k | €80k | €62k | ▼ 21.7% |
| Amounts payable within one year42/48 | €47k | €40k | €51k | €49k | €53k | ▲ 9.0% |
| Current portion of amounts payable after more than one year42 | €29k | €26k | €25k | €23k | €17k | ▼ 24.3% |
| Trade debts44 | €10k | €2k | €8k | €5k | €9k | ▲ 82.3% |
| Suppliers440/4 | €10k | €2k | €8k | €5k | €9k | ▲ 82.3% |
| Taxes, remuneration and social security45 | €8k | €11k | €15k | €19k | €21k | ▲ 7.6% |
| Taxes450/3 | €8k | €11k | €15k | €19k | €21k | ▲ 7.6% |
| Other amounts payable47/48 | €444 | €2k | €2k | €2k | €7k | ▲ 234% |
| Accrued charges and deferred income492/3 | - | €178 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7k | €8k | €18k | €21k | €33k | ▲ 54.5% |
| + Depreciation and write-downs630 | €52k | €52k | €44k | €44k | €41k | ▼ 6.5% |
| Operating cash flow (approximation) | €59k | €60k | €62k | €65k | €74k | ▲ 13.3% |
| Investment in fixed assets (approximation) | - | €30k | €0 | €0 | €-20k | - |
| Change in cash | - | €32k | €24k | €-27k | €-23k | ▲ 13.6% |
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
26-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €6k ▼38.1%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Geraardsbergen · 1 establishment unit since 2008
Ground area
1,486 m²
Building footprint
567 m²
Volume, LiDAR
3,374 m³
2 parcels, Flanders · tallest building 12.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Gisel
since 20082.235.251.370
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41056B0080/00K000 | Flanders | 1,286 m² | 1 · 363 m² | 7.7 m · 2 fl. |
| 41031A0276/00P000 | Flanders | 200 m² | 1 · 204 m² | 12.0 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
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
Legal Entity Identifier
6488QWXQ2AM851767Y73
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Of 7,321 companies in sector 68110 we hold annual accounts for 5,384. 3,075 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-07-2008
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
69102Activities of notaries
Scores and ratios are computed by Checked and are not a credit decision.