GESTBEL
ActiveSummary
GESTBEL has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €81k and a net result of €40k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 49% of 8692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+26
Solvency76▲+36
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 2.38 against 1.24 in 2024; short-term debt: 42% and cash: 28.1% of total assets), and 48.8% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
51.2%
Return on assets
25.3%
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 31-08-2026, 31 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
31 d late
2024
139 d late
2023
31 d late
2022
92 d late
2021
26 d late
2020
27 d late
2019
119 d late
← 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, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€40k▲ 2.2%
2024 · €39k
2018: €4klowest in 8 years
2019: €9k▲ +139% vs 2018
2020: €23k▲ +159% vs 2019
2021: €46k▲ +97.7% vs 2020
2022: €47k▲ +1.5% vs 2021highest in 8 years
2023: €44k▼ -6.4% vs 2022
2024: €39k▼ -9.7% vs 2023
2025: €40k▲ +2.2% vs 2024
2018 → 2025
Working capital
€92k▲ 78.5%
2024 · €51k
2018: €-26klowest in 8 years
2019: €-17k▲ +34.2% vs 2018
2020: €6k▲ +134% vs 2019
2021: €60k▲ +928% vs 2020
2022: €108k▲ +79.0% vs 2021
2023: €152k▲ +40.5% vs 2022highest in 8 years
2024: €51k▼ -66.1% vs 2023
2025: €92k▲ +78.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€52k-€98k▲ 90.0%€142k▲ 44.3%€41k▼ 71.1%€81k▲ 98.0%
2021: €52k
2022: €98k▲ +90.0% vs 2021
2023: €142k▲ +44.3% vs 2022highest in 5 years
2024: €41k▼ -71.1% vs 2023lowest in 5 years
2025: €81k▲ +98.0% vs 2024
Operating result€46k-€46k▲ 1.1%€51k▲ 9.7%€53k▲ 4.5%€55k▲ 2.6%
2021: €46klowest in 5 years
2022: €46k▲ +1.1% vs 2021
2023: €51k▲ +9.7% vs 2022
2024: €53k▲ +4.5% vs 2023
2025: €55k▲ +2.6% vs 2024highest in 5 years
Net result€46k-€47k▲ 1.5%€44k▼ 6.4%€39k▼ 9.7%€40k▲ 2.2%
2021: €46k
2022: €47k▲ +1.5% vs 2021highest in 5 years
2023: €44k▼ -6.4% vs 2022
2024: €39k▼ -9.7% vs 2023lowest in 5 years
2025: €40k▲ +2.2% vs 2024
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 3% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €159k
Equity
€81k ▲ 98.0%
Debt
€77k ▼ 65.7%
Debt's share of the balance-sheet total falls from 84.6% to 48.8%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
2.38▲
2024 · 1.24
Debt to equity
0.95▼
2024 · 5.50
ROE
49.5%▼
2024 · 95.8%
ROA
25.3%▲
2024 · 14.8%
Debt ≤ 1 year
€67k▼
2024 · €215k
Income taxes
€14k▲
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 · 34 lines
Balance sheet
Code20242025
Assets
Total assets20/58€266k€159k▼
Current assets29/58€266k€159k▼
Amounts receivable within one year40/41€86k€103k▲
Trade receivables40€86k€103k▲
Cash at bank and in hand54/58€174k€44k▼
Deferred charges and accrued income490/1€6k€11k▲
Equity and liabilities
Total equity and liabilities10/49€266k€159k▼
Equity10/15€41k€81k▲
Contributions10/11€7k€7k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€32k€72k▲
Amounts payable17/49€225k€77k▼
Amounts payable within one year42/48€215k€67k▼
Trade debts44€72k€59k▼
Suppliers440/4€72k€59k▼
Taxes, remuneration and social security45€3k€7k▲
Taxes450/3€3k€7k▲
Other amounts payable47/48€140k€0▼
Accrued charges and deferred income492/3€10k€11k▲
Income statement
Code20242025
Other operating charges640/8€7k€11k▲
Gross operating margin9900€60k€66k▲
Operating profit (loss)9901€53k€55k▲
Financial charges65/66B€495€507▲
Recurring financial charges65€495€507▲
Profit (loss) for the period before taxes9903€53k€54k▲
Income taxes67/77€13k€14k▲
Profit (loss) for the period9904€39k€40k▲
Profit (loss) for the period to be appropriated9905€39k€40k▲
Appropriation of the result
Profit (loss) to be appropriated9906€172k€72k▼
Profit (loss) brought forward from the previous period14P€133k€32k▼
Profit to be distributed694/7€140k€0▼
Return on contributions (dividend)694€140k€0▼
The notes to these accounts (1 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 |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €6k | €1k | €12k | €7k | €11k | ▲ 61.5% |
| Gross operating margin9900 | €52k | €48k | €63k | €60k | €66k | ▲ 9.5% |
| Operating profit (loss)9901 | €46k | €46k | €51k | €53k | €55k | ▲ 2.6% |
| Financial income75/76B | - | €261 | - | - | - | - |
| Recurring financial income75 | - | €261 | - | - | - | - |
| Financial charges65/66B | €114 | €152 | €477 | €495 | €507 | ▲ 2.5% |
| Recurring financial charges65 | €114 | €152 | €477 | €495 | €507 | ▲ 2.5% |
| Profit (loss) for the period before taxes9903 | €46k | €47k | €50k | €53k | €54k | ▲ 2.6% |
| Income taxes67/77 | - | - | €7k | €13k | €14k | ▲ 3.6% |
| Profit (loss) for the period9904 | €46k | €47k | €44k | €39k | €40k | ▲ 2.2% |
| Profit (loss) for the period to be appropriated9905 | €46k | €47k | €44k | €39k | €40k | ▲ 2.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €82k | €152k | €230k | €266k | €159k | ▼ 40.5% |
| Current assets29/58 | €82k | €152k | €230k | €266k | €159k | ▼ 40.5% |
| Amounts receivable within one year40/41 | €42k | €62k | €81k | €86k | €103k | ▲ 19.5% |
| Trade receivables40 | €42k | €62k | €81k | €86k | €103k | ▲ 19.5% |
| Other amounts receivable41 | - | €190 | - | - | - | - |
| Cash at bank and in hand54/58 | €41k | €85k | €143k | €174k | €44k | ▼ 74.4% |
| Deferred charges and accrued income490/1 | €56 | €6k | €6k | €6k | €11k | ▲ 82.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €82k | €152k | €230k | €266k | €159k | ▼ 40.5% |
| Equity10/15 | €52k | €98k | €142k | €41k | €81k | ▲ 98.0% |
| Contributions10/11 | €7k | €7k | €7k | €7k | €7k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €43k | €89k | €133k | €32k | €72k | ▲ 126% |
| Amounts payable17/49 | €31k | €54k | €88k | €225k | €77k | ▼ 65.7% |
| Amounts payable within one year42/48 | €22k | €44k | €78k | €215k | €67k | ▼ 69.0% |
| Trade debts44 | €22k | €44k | €71k | €72k | €59k | ▼ 17.0% |
| Suppliers440/4 | €22k | €44k | €71k | €72k | €59k | ▼ 17.0% |
| Taxes, remuneration and social security45 | - | - | €7k | €3k | €7k | ▲ 116% |
| Taxes450/3 | - | - | €7k | €3k | €7k | ▲ 116% |
| Other amounts payable47/48 | - | - | - | €140k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €9k | €10k | €10k | €10k | €11k | ▲ 2.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €46k | €47k | €44k | €39k | €40k | ▲ 2.2% |
| Operating cash flow (approximation) | €46k | €47k | €44k | €39k | €40k | ▲ 2.2% |
| Change in cash | - | €44k | €58k | €31k | €-130k | ▼ 523% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
27-03
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
13-03
State Gazette act
General meeting · Board meeting
Director resignation · Director discharge
2025
17-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 139 days late
2024
14-11
State Gazette act
Board meeting · Power of attorney
Registered-office move · General meeting
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 31 days late
2023
31-12
Financial
Equity above €100kEq €142k ▲44.3%
6 profitable years in a row build equity to €142k.
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 92 days late
2022
31-12
Financial
Highest result since 2018net €47k ▲1.5%
Net result €47k, the highest in the series.
25-10
State Gazette act
Incorporation · Founder
Founding capital · Bank account
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 26 days late
2021
31-12
Financial
Liquidity triplescurrent ratio 3.73
Current ratio from 1.24 to 3.73; short-term debt falls from €25k to €22k.
Show earlier events
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
05-05
State Gazette act
Auditor appointment · Permanent representative
Director discharge · Director resignation
30-04
State Gazette act
Auditor appointment · Permanent representative
Mandate compensation · Director discharge
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 119 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 31 days late
12-07
State Gazette act
General meeting · Director appointment
Director resignation · Director discharge
2018
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 60 days late
2017
15-12
State Gazette act
General meeting · Director reappointment
Permanent representative · Board meeting
04-12
State Gazette act
General meeting · Director reappointment
Director appointment · Board meeting
04-12
State Gazette act
General meeting · Director reappointment
Board meeting
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 30 days late
2016
18-02
State Gazette act
General meeting · Director reappointment
Permanent representative · Mandate compensation
2013
06-12
State Gazette act
General meeting · Capital
Director appointment · Director resignation
2012
18-09
State Gazette act
General meeting · Capital
Approval · Auditor appointment
14-09
State Gazette act
General meeting · Capital
Statutes amendment
20-08
State Gazette act
General meeting · Approval
Auditor reappointment · Permanent representative
05-06
State Gazette act
General meeting · Capital
Permanent representative · Statutes amendment
16-05
State Gazette act
General meeting · Capital
Approval · Director reappointment
2011
08-12
State Gazette act
General meeting · Capital
Approval · Director reappointment
28-11
State Gazette act
General meeting · Capital
Approval · Director reappointment
2010
03-12
State Gazette act
General meeting · Capital
Auditor appointment · Permanent representative
02-08
State Gazette act
General meeting · Capital increase
Capital decrease · Capital
2009
30-07
State Gazette act
General meeting · Capital
Approval · Auditor appointment
2006
14-04
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
14-04
State Gazette act
General meeting · Director resignation
Director discharge · Director appointment
2005
27-09
State Gazette act
General meeting · Statutes amendment
Director resignation · Director discharge
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
6 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, Liège · 1 establishment unit since 2005
Ground area
4,768 m²
Parcel 62814C0393/00V002, Wallonia. Linked by address, not a title deed.
140
companies at this address
See who is registered here
1 establishment unit
Rue des Guillemins 139, 4000 Liège
since 20052.148.280.378
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62814C0393/00V002 | Wallonia | 4,768 m² | - | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
4 connected companiesThis company
Company
Director
Shareholding
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Linked via shared directors
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Ownership & control
5 board mandatesBoard mandates of this companythis company sits on their board5
33 locations
3 locations
1 location
1 location
1 location
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 40,150 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
Founded14-07-2005
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
E-mail
info@ardent-re.be
Phone
042321952
Scores and ratios are computed by Checked and are not a credit decision.