GS CONSTRUCTION
ActiveSummary
GS CONSTRUCTION has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €369k and a net result of €37k. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 33% of 1290 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
53
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability45▼-4
Solvency45▲+6
Growth67=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
Liquidity tight (current ratio 1.03 against 1.03 in 2023; short-term debt: 66.6% and cash: 10.6% of total assets), and 80.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 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
not confirmed
2024
29 d late
2023
29 d late
2022
25 d late
2021
30 d late
2020
25 d late
2019
40 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€4.55M▼ 2.4%
2022 · €4.66M
2018: €3.84M
2019: €3.68M
2020: €3.00M
2021: €4.12M
2022: €4.66M
2018 → 2023
EBIT margin
2.8%▲ 0.6pp
2022 · 2.2%
2018: 1.3%
2019: 1.8%
2020: 2.2%
2021: 1.7%
2022: 2.2%
2018 → 2023
Net result
€37k▼ 28.5%
2023 · €52k
2018: €16k
2019: €17k
2020: €4k
2021: €20k
2022: €50k
2023: €52k
2018 → 2024
Working capital
€43k▼ 11.4%
2023 · €48k
2018: €-106k
2019: €-87k
2020: €-48k
2021: €-446
2022: €29k
2023: €48k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€3.00M-€4.12M▲ 37.1%€4.66M▲ 13.2%€4.55M▼ 2.4%
Equity€210k-€230k▲ 9.7%€280k▲ 21.7%€332k▲ 18.5%€369k▲ 11.1%
Operating result€66k-€70k▲ 5.5%€103k▲ 46.4%€127k▲ 23.9%€159k▲ 24.9%
Net result€4k-€20k▲ 362%€50k▲ 145%€52k▲ 3.7%€37k▼ 28.5%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2024 is 25% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.86M
Fixed assets
€562k ▼ 5.7%
Current assets
€1.30M ▼ 25.4%
Equity and liabilities €1.89M
Equity
€369k ▲ 11.1%
Provisions
€1k ▼ 14.3%
Debt
€1.52M ▼ 25.7%
Debt's share of the balance-sheet total falls from 86.0% to 80.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€310k▲
2023 · €230k
Cash flow
€188k▲
2023 · €155k
Current ratio
1.03▲
2023 · 1.03
Quick ratio
0.85▲
2023 · 0.60
Debt to equity
4.11▼
2023 · 6.16
ROE
10.1%▼
2023 · 15.7%
ROA
2.0%▼
2023 · 2.2%
Interest coverage
2.84▼
2023 · 3.82
Debt ≤ 1 year
€1.26M▼
2023 · €1.69M
Debt > 1 year
€258k▼
2023 · €347k
Income taxes
€25k▲
2023 · €17k
Staff costs
€1.46M▼
2023 · €1.54M
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 · 70 lines
Balance sheet
Code20232024
Assets
Total assets20/58€2.37M€1.89M▼
Formation expenses20€35k€24k▼
Fixed assets21/28€596k€562k▼
Intangible fixed assets21€0€0=
Tangible fixed assets22/27€545k€511k▼
Land and buildings22€0€0=
Plant, machinery and equipment23€68k€84k▲
Furniture and vehicles24€43k€75k▲
Leasing and similar rights25€434k€352k▼
Other tangible fixed assets26€0€0=
Financial fixed assets28€51k€51k=
Current assets29/58€1.74M€1.30M▼
Stocks and contracts in progress3€727k€237k▼
Stocks30/36€624k€152k▼
Contracts in progress37€103k€85k▼
Amounts receivable within one year40/41€556k€852k▲
Trade receivables40€489k€652k▲
Other amounts receivable41€67k€200k▲
Cash at bank and in hand54/58€436k€199k▼
Deferred charges and accrued income490/1€23k€11k▼
Equity and liabilities
Total equity and liabilities10/49€2.37M€1.89M▼
Equity10/15€332k€369k▲
Contributions10/11€64k€64k=
Capital10€64k€64k=
Issued capital100€64k€64k=
Reserves13€185k€185k=
Non-distributable reserves130/1€13k€13k=
Legal reserve130€6k€6k=
Reserves not available under the articles1311€6k€6k=
Tax-exempt reserves132€9k€9k=
Distributable reserves133€163k€163k=
Profit (loss) carried forward14€81k€118k▲
Investment grants15€2k€1k▼
Provisions and deferred taxes16€1k€1k▼
Deferred taxes168€1k€1k▼
Amounts payable17/49€2.04M€1.52M▼
Amounts payable after more than one year17€347k€258k▼
Financial debts170/4€347k€258k▼
Amounts payable within one year42/48€1.69M€1.26M▼
Current portion of amounts payable after more than one year42€138k€149k▲
Financial debts43€605k€465k▼
Credit institutions430/8€605k€465k▼
Trade debts44€709k€543k▼
Suppliers440/4€709k€543k▼
Taxes, remuneration and social security45€229k€88k▼
Taxes450/3€113k€29k▼
Remuneration and social security454/9€116k€59k▼
Other amounts payable47/48€12k€10k▼
Accrued charges and deferred income492/3€686€2k▲
Income statement
Code20232024
Turnover70€4.55M-
Non-recurring operating income76A€2k€7k▲
Goods, raw materials, services and sundry goods60/61€3.53M-
Remuneration, social security and pensions62€1.54M€1.46M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€103k€151k▲
Other operating charges640/8€19k€15k▼
Non-recurring operating charges66A-€11k
Gross operating margin9900€1.79M€1.79M=
Operating profit (loss)9901€127k€159k▲
Financial income75/76B€2k€13k▲
Recurring financial income75€2k€13k▲
Financial charges65/66B€60k€109k▲
Recurring financial charges65€60k€109k▲
Profit (loss) for the period before taxes9903€69k€63k▼
Transfer from deferred taxes780€167€167=
Income taxes67/77€17k€25k▲
Profit (loss) for the period9904€52k€37k▼
Profit (loss) for the period to be appropriated9905€52k€37k▼
Appropriation of the result
Profit (loss) to be appropriated9906€81k€118k▲
Profit (loss) brought forward from the previous period14P€29k€81k▲
Social balance
Average headcount (FTE)908736.332.1▼
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
31-12
Financial
Highest result since 2018net €52k ▲3.7%
Net result €52k, the highest in the series.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 25 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 25 days late
2020
31-12
Financial
Weakest financial yearnet €4k ▼74%
Net result drops to €4k, the lowest in the series; recovery starts the following year.
09-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 40 days late
2019
31-12
Financial
Equity above €200kEq €205k ▲8.9%
2 profitable years in a row build equity to €205k.
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 24 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
2016
23-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
10 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, Waimes · 1 establishment unit since 1986
Ground area
6,652 m²
Building footprint
197 m²
Volume, LiDAR
1,559 m³
Parcel 63552C0047/00D000, Wallonia · tallest building 9.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
GS CONSTRUCTION
since 19862.029.032.934
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63552C0047/00D000 | Wallonia | 6,652 m² | 1 · 196 m² | 9.9 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
15 categoriesGS CONSTRUCTION SA18055
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DE BLOCK G.
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Of 29,779 companies in sector 41001 we hold annual accounts for 16,044. 10,326 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
Founded03-01-1986
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
32990Other manufacturing not elsewhere classified
42110Construction of roads and motorways
46831Wholesale of construction materials, general range
47551Retail sale of household furniture
68110Buying and selling of own real estate
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:info@gs-construction.be
Phone:0496141966