GLUECOM
ActiveSummary
GLUECOM has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.00M and a net result of €1.58M. Equity is growing by ~6.7% per year across the filed fiscal years. Its solvency ranks better than 37% of 267 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
73
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+6
Solvency65=
Growth71▼-2
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €290k at 30 days acceptable
Liquidity tight (current ratio 1.31 against 1.33 in 2024; short-term debt: 54.9% and cash: 3.6% of total assets), and 60.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 20
Relative position
BE, all sectors
reference
Sector 20
lower
← 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
39.6%
Return on assets
15.6%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-08-2026, 29 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.
NBB · 10 filingsDeviation from the deadline
2025
29 d late
2024
3 d early
2023
18 d early
2022
30 d late
2021
4 d early
2020
75 d early
2019
24 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€18.54M▼ 2.6%
2024 · €19.03M
2018: €10.97M
2019: €11.39M
2020: €10.38M
2021: €13.51M
2022: €16.08M
2023: €16.57M
2024: €19.03M
2018 → 2025
EBIT margin
12.5%▲ 2.7pp
2024 · 9.8%
2018: 1.4%
2019: 1.6%
2020: 2.3%
2021: 4.8%
2022: 6.2%
2023: 4.7%
2024: 9.8%
2018 → 2025
Net result
€1.58M▲ 28.4%
2024 · €1.23M
2018: €51k
2019: €72k
2020: €123k
2021: €447k
2022: €703k
2023: €454k
2024: €1.23M
2018 → 2025
Working capital
€1.70M▲ 0.5%
2024 · €1.69M
2018: €1.65M
2019: €1.90M
2020: €2.03M
2021: €2.28M
2022: €1.63M
2023: €1.88M
2024: €1.69M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€13.51M-€16.08M▲ 19.0%€16.57M▲ 3.0%€19.03M▲ 14.9%€18.54M▼ 2.6%
Equity€3.65M-€3.75M▲ 2.8%€3.98M▲ 6.1%€4.00M▲ 0.5%€4.00M=
Operating result€644k-€990k▲ 53.8%€778k▼ 21.4%€1.87M▲ 140%€2.31M▲ 23.8%
Net result€447k-€703k▲ 57.3%€454k▼ 35.4%€1.23M▲ 171%€1.58M▲ 28.4%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 24% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.11M
Fixed assets
€2.86M ▼ 7.2%
Current assets
€7.25M ▲ 5.3%
Equity and liabilities €10.11M
Equity
€4.00M =
Provisions
€240k ▲ 20.0%
Debt
€5.87M ▲ 1.8%
Debt's share of the balance-sheet total rises from 57.8% to 58.1%. Debt is higher.
Key figures and ratios
EBITDA
€2.78M▲
2024 · €2.30M
Cash flow
€2.04M▲
2024 · €1.66M
Current ratio
1.31▼
2024 · 1.33
Quick ratio
0.84▲
2024 · 0.83
Debt to equity
1.47▲
2024 · 1.44
ROE
39.4%▲
2024 · 30.7%
ROA
15.6%▲
2024 · 12.3%
Interest coverage
22.86▲
2024 · 15.41
Debt ≤ 1 year
€5.55M▲
2024 · €5.19M
Debt > 1 year
€310k▼
2024 · €566k
Income taxes
€585k▲
2024 · €451k
Staff costs
€1.88M▼
2024 · €1.96M
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 · 99 lines
Balance sheet
Code20242025
Assets
Total assets20/58€9.96M€10.11M▲
Fixed assets21/28€3.08M€2.86M▼
Intangible fixed assets21€569k€416k▼
Tangible fixed assets22/27€2.50M€2.43M▼
Land and buildings22€1.29M€1.31M▲
Plant, machinery and equipment23€922k€904k▼
Furniture and vehicles24€188k€129k▼
Leasing and similar rights25€37k€31k▼
Other tangible fixed assets26€58k€61k▲
Financial fixed assets28€9k€9k=
Affiliated companies280/1€19€19=
Participating interests280€19€19=
Other financial fixed assets284/8€9k€9k=
Shares284€273€273=
Amounts receivable and cash guarantees285/8€9k€9k=
Current assets29/58€6.89M€7.25M▲
Amounts receivable after more than one year29€3k-
Other amounts receivable291€3k-
Stocks and contracts in progress3€2.60M€2.61M▲
Stocks30/36€2.60M€2.61M▲
Raw materials and consumables30/31€1.05M€966k▼
Work in progress32€198k€64k▼
Finished goods33€499k€506k▲
Goods purchased for resale34€848k€1.07M▲
Amounts receivable within one year40/41€3.87M€4.24M▲
Trade receivables40€3.42M€3.72M▲
Other amounts receivable41€457k€517k▲
Cash at bank and in hand54/58€381k€364k▼
Deferred charges and accrued income490/1€30k€42k▲
Equity and liabilities
Total equity and liabilities10/49€9.96M€10.11M▲
Equity10/15€4.00M€4.00M=
Contributions10/11€625k€625k=
Capital10€625k€625k=
Issued capital100€625k€625k=
Revaluation surpluses12€1.19M€1.14M▼
Reserves13€2.18M€2.23M▲
Non-distributable reserves130/1€63k€63k=
Legal reserve130€63k€63k=
Tax-exempt reserves132€434k€434k=
Distributable reserves133€1.69M€1.73M▲
Provisions and deferred taxes16€200k€240k▲
Provisions for liabilities and charges160/5€200k€240k▲
Major repairs and maintenance162€200k€200k=
Other liabilities and charges164/5€0€40k▲
Amounts payable17/49€5.76M€5.87M▲
Amounts payable after more than one year17€566k€310k▼
Financial debts170/4€566k€310k▼
Leasing and similar obligations172€3k-
Credit institutions173€563k€310k▼
Amounts payable within one year42/48€5.19M€5.55M▲
Current portion of amounts payable after more than one year42€263k€257k▼
Financial debts43€1.82M€1.09M▼
Credit institutions430/8€1.82M€1.09M▼
Trade debts44€1.97M€1.70M▼
Suppliers440/4€1.97M€1.70M▼
Taxes, remuneration and social security45€366k€530k▲
Taxes450/3€129k€321k▲
Remuneration and social security454/9€237k€209k▼
Other amounts payable47/48€774k€1.98M▲
Accrued charges and deferred income492/3€3k€7k▲
Income statement
Code20242025
Operating income70/76A€19.19M€18.72M▼
Turnover70€19.03M€18.54M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-173k€-113k▲
Other operating income74€320k€294k▼
Non-recurring operating income76A€17k-
Operating charges60/66A€17.33M€16.41M▼
Goods for resale, raw materials and consumables60€11.99M€10.96M▼
Purchases600/8€11.81M€11.26M▼
Change in stocks: decrease (increase)609€187k€-296k▼
Services and other goods61€2.93M€2.85M▼
Remuneration, social security and pensions62€1.96M€1.88M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€431k€466k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-116€181k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-54k€40k▲
Other operating charges640/8€21k€32k▲
Non-recurring operating charges66A€39k€83▼
Operating profit (loss)9901€1.87M€2.31M▲
Financial income75/76B€26k€22k▼
Recurring financial income75€26k€22k▼
Income from financial fixed assets750€0-
Income from current assets751€22k€14k▼
Other financial income752/9€3k€7k▲
Financial charges65/66B€212k€169k▼
Recurring financial charges65€212k€169k▼
Debt charges650€149k€121k▼
Other financial charges652/9€63k€48k▼
Profit (loss) for the period before taxes9903€1.68M€2.16M▲
Income taxes67/77€451k€585k▲
Taxes670/3€451k€585k▲
Profit (loss) for the period9904€1.23M€1.58M▲
Profit (loss) for the period to be appropriated9905€1.23M€1.58M▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.23M€1.58M▲
Transfer from equity791/2€500k-
From reserves792€500k-
Transfer to equity691/2€518k-
To other reserves6921€518k-
Profit to be distributed694/7€1.21M€1.58M▲
Return on contributions (dividend)694€1.21M€1.58M▲
Social balance
Average headcount (FTE)908730.728.3▼
The notes to these accounts (88 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 29 days late
2025
31-12
Financial
Highest result since 2018net €1.58M ▲28.4%
Operating result €2.31M, net result €1.58M, both a record.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
13-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
17-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
07-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 20 acts read
About the unread acts
We know of 20 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
20 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, Lokeren · 2 establishment units since 1979
Ground area
8,079 m²
Building footprint
1.3 ha
Volume, LiDAR
98,126 m³
2 parcels, Flanders · tallest building 12.6 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Waterstraat 6, 9160 Lokeren
since 19792.015.729.185
MERCKX
since 20022.108.724.471
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46014A0198/00B000 | Flanders | 6,193 m² | 1 · 2,919 m² | 8.8 m · 2 fl. |
| 31807I0459/00G010 | Flanders | 1,886 m² | 1 · 9,792 m² | 12.6 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 8 entries · 457,142 EUR awarded · 279,394 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 1,628 EUR | 134,742 EUR |
| 2024 | 3 | 9,666 EUR | 142,758 EUR |
| 2023 | 1 | 1,001 EUR | 1,034 EUR |
| 2022 | 2 | 444,847 EUR | 860 EUR |
Schemes
Recyclagehub (steun voor ondernemingen die willen investeren in innovatieve recyclagetechnologieën om materiaalkringlopen te sluiten)
Subsidies voor internationaal ondernemen
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
5493008PRDL6OVVQ2L63
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Of 230 companies in sector 20590 we hold annual accounts for 169. 109 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 formPublic limited company
Founded19-01-1979
Fiscal year end31-12
Activities, NACEBEL 2025
20590Manufacture of chemicals and chemical products
Sources
Crossroads Bank for EnterprisesNational Bank · 46 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.