Checked.be
Active
BE 0894.191.827Private limited company
GVM Logistics
Wijntuinstraat 40 ·2330 Merksplas, Belgium· 18 yrs active
Sector: Warehousing and storage
(52100)
Conclusion
GVM Logistics has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €189k and a net result of €-21k. Equity is shrinking by ~7% per year across the filed fiscal years. Its solvency ranks better than 95% of 110 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €189k |
| Net result | €-21k |
| Better than sector | 95% |
| Active | 18 yrs |
Financial profile
57
/ 100
Mixed profile: strong on solvency, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
52
Profitability
0
Solvency
100
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2007, 18 years in business.
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.
Checked score
52
/ 100
Fair
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.
Indicative credit limit
€10k
estimate, not credit advice
Score history
93
2022
83
2023
70
2024
52
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 24.41 (≥ 1.5)
+10
Quick ratio
Quick ratio 24.41 (≥ 1.0)
+5
Leverage
Debt/equity 0.04 (< 1.0)
+10
Profitability
Negatieve ROE -11%
-10
Interest coverage
Interest coverage -7.1× (< 1.5×)
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 02-07-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~7%/year over 4 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 2025 · NACE 52, Warehousing and support activities for transportation · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 96.1% | 30.5% | |
| Net result | €-21k | €11k | |
| Equity | €189k | €28k | |
| Gross operating margin | €-3k | €36k | |
| Total assets | €196k | €99k |
€-5k
-
22-25
€-21k
-57.2%
22-25
€-6k
-
22-25
€196k
-15.2%
22-25
€189k
-9.9%
22-25
€180k
-6.2%
22-25
€211
-0.8%
22-25
€30k
-
22-25
€8k
-65.4%
22-25
€8k
-52.3%
22-25
€6k
-64.8%
22-25
24.41
+89.3%
22-25
24.41
+89.3%
22-25
96.1%
+6.3%
22-25
0.04
-61.6%
22-25
-11.0%
-74.5%
22-25
-10.6%
-85.5%
22-25
-7.14
-
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | €-5k | €2k | €39k | €51k |
| Net profit | €-21k | €-13k | €16k | €25k |
| Cash flow | €-6k | €2k | €31k | €39k |
| Staff costs | - | - | - | - |
| Income taxes | €211 | €212 | €8k | €11k |
| Dividends | - | - | €30k | - |
| Total assets | €196k | €232k | €298k | €308k |
| Equity | €189k | €209k | €222k | €237k |
| Debt | €8k | €22k | €76k | €71k |
| of which ≤ 1y | €8k | €16k | €58k | €42k |
| of which > 1y | - | €6k | €17k | €29k |
| Working capital | €180k | €192k | €201k | €212k |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 24.41 | 12.89 | 4.45 | 6.03 |
| Quick ratio | 24.41 | 12.89 | 4.45 | 6.03 |
| Working capital ratio | 91.7% | 82.8% | 67.5% | 68.9% |
| Solvency | 96.1% | 90.4% | 74.6% | 76.9% |
| Debt / equity | 0.04 | 0.11 | 0.34 | 0.30 |
| Long-term debt ratio | - | 0.03 | 0.08 | 0.12 |
| Interest coverage | -7.14 | 6.86 | 90.85 | 61.85 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -10.6% | -5.7% | 5.3% | 8.0% |
| ROE | -11.0% | -6.3% | 7.2% | 10.4% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €196k | €232k | €298k | €308k |
| Fixed assets | 21/28 | €9k | €24k | €39k | €54k |
| Tangible fixed assets | 22/27 | €9k | €24k | €39k | €54k |
| Current assets | 29/58 | €188k | €208k | €260k | €254k |
| Amounts receivable within one year | 40/41 | €29k | €34k | €105k | €90k |
| Cash & bank | 54/58 | €158k | €173k | €153k | €162k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €196k | €232k | €298k | €308k |
| Equity | 10/15 | €189k | €209k | €222k | €237k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k |
| Reserves | 13 | €170k | €191k | €204k | €145k |
| Accumulated profits (losses) | 14 | - | - | €0 | €73k |
| Amounts payable | 17/49 | €8k | €22k | €76k | €71k |
| Amounts payable after one year | 17 | - | €6k | €17k | €29k |
| Amounts payable within one year | 42/48 | €8k | €16k | €58k | €42k |
| Trade debts payable within one year | 44 | €1k | €3k | €15k | €15k |
| Income statement | |||||
| Gross operating margin | 9900 | €-3k | €8k | €41k | €53k |
| Operating result | 9901 | €-20k | €-13k | €24k | €36k |
| Financial income | 75 | - | €70 | €977 | €41 |
| Financial charges | 65 | €677 | €335 | €427 | €819 |
| Result before taxes | 9903 | €-21k | €-13k | €24k | €35k |
| Income taxes | 67/77 | €211 | €212 | €8k | €11k |
| Net result for the period | 9904 | €-21k | €-13k | €16k | €25k |
| Result to be appropriated | 9905 | €-21k | €-13k | €16k | €25k |
Legal Structure
| NACE primary | Warehousing and storage(52100) |
| Legal form | Private limited company(610) |
| Incorporation | 14-12-2007 |
| Status | Active |
| Postal code | 2330 |
Establishment units
GVM Logistics
since 20072.167.392.447
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13023I0425/00Y002 | Flanders | 700 m² | 1 · 103 m² | - |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-21k
Net result drops to €-21k, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 12.89
Current ratio from 4.45 to 12.89; short-term debt falls from €58k to €16k.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
08-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 39 days late
2019
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
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.
Belgian State Gazette reading coverage
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Warehousing and storage52100
Names & trade names
| Legal nameNL | GVM Logistics |
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