ACTIVE

GNAP

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Financial year 2025 · closed on 31/12/2025

Net result

226,7 k €

-17.2% YoY

Revenue

6,5 M €

Equity

6,4 M €

+3.7% YoY

Workforce

24,6 ETP

-8.6% YoY

What does GNAP do?

GNAP is a Private limited company incorporated in 1986. Its registered office is in Saint-Gilles. It employs on average 24,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0428.322.702

Incorporation

16/01/1986

Legal form

Private limited company

Registered office

Avenue Louise 17
1060 Saint-Gilles · BruxellesSee on map

Contributed capital

5 588 738,00 €

Latest accounts

31/12/2025

Average workforce

24,6 ETP

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2006
Income statement
Revenue	6,5 M €		–		–		–		–		–		–		–		–		5,9 M €	+0.5%	5,8 M €	+13.4%	5,1 M €	-2.8%	5,3 M €	+9.9%	4,8 M €	+1.7%	4,7 M €	+3.2%	4,6 M €	+8.2%	4,2 M €	+3.5%	4,1 M €	+160%	1,6 M €
EBITDA	505,1 k €	-6.7%	541,4 k €	+46.5%	369,7 k €	+11.0%	332,9 k €	+4.9%	317,3 k €	+420%	61 k €	-87.0%	470,5 k €	+109%	225,6 k €	-69.8%	747,1 k €	+189%	258,9 k €	+420%	-81 k €	-149%	166,7 k €	-51.1%	341,1 k €	+76.8%	193 k €	-0.7%	194,3 k €	-35.3%	300,4 k €	+865%	31,1 k €	+115%	-203,9 k €	-489%	52,4 k €
Operating result	213,8 k €	-15.9%	254,2 k €	+125%	113,2 k €	+44.2%	78,5 k €	+49.5%	52,5 k €	+126%	-203,8 k €	-221%	168,9 k €	+38.5%	122 k €	-73.1%	453,8 k €	+820%	-63 k €	+85.8%	-444,2 k €	-6.6%	-416,5 k €	-3484%	-11,6 k €	+91.4%	-135,7 k €	-271%	-36,6 k €	-186%	42,7 k €	+111%	-392,4 k €	+29.3%	-554,9 k €	-1687%	35 k €
Net result	226,7 k €	-17.2%	273,8 k €	+116%	126,7 k €	+77.9%	71,2 k €	+55.7%	45,7 k €	+122%	-209,1 k €	-228%	162,9 k €	+40.9%	115,6 k €	-73.9%	442,6 k €	+767%	-66,4 k €	+85.0%	-441,5 k €	+37.1%	-702,3 k €	-284%	381,2 k €	+169%	-556 k €	-1759%	33,5 k €	-87.4%	265,8 k €	+168%	-392,3 k €	+23.4%	-511,8 k €	-2229%	24 k €
Balance sheet
Equity	6,4 M €	+3.7%	6,1 M €	+4.7%	5,9 M €	+2.2%	5,7 M €	+1.3%	5,7 M €	+0.8%	5,6 M €	-3.6%	5,8 M €	+2.9%	5,7 M €	+2.1%	5,6 M €	+8.7%	5,1 M €	-1.3%	5,2 M €	-7.9%	5,6 M €	-0.1%	5,6 M €	+7.2%	5,3 M €	-9.6%	5,8 M €	+0.5%	5,8 M €	+4.7%	5,5 M €	+308%	1,4 M €	+195%	459,1 k €
Total assets	7,4 M €	+1.7%	7,3 M €	+10.5%	6,6 M €	+3.9%	6,4 M €	+1.9%	6,2 M €	-4.9%	6,6 M €	-9.7%	7,3 M €	+5.3%	6,9 M €	+5.5%	6,5 M €	-2.5%	6,7 M €	-0.6%	6,7 M €	-3.7%	7 M €	-0.8%	7,1 M €	+3.0%	6,8 M €	+3.3%	6,6 M €	-1.8%	6,8 M €	-3.3%	7 M €	+127%	3,1 M €	+137%	1,3 M €
Cash	264,7 k €	-29.8%	377,2 k €	-52.6%	794,9 k €	+4.3%	762,2 k €	-3.0%	785,7 k €	+13.2%	694,3 k €	-28.5%	970,7 k €	+20.5%	805,5 k €	+11.7%	721,1 k €	-21.6%	920,2 k €	+9.5%	840,1 k €	+125%	373,3 k €	+51.9%	245,8 k €	-14.2%	286,4 k €	+1.8%	281,4 k €	-34.9%	432,1 k €	-3.1%	445,7 k €	+1147%	35,8 k €	+46.0%	24,5 k €
Debts	1 M €	-7.9%	1,1 M €	+58.7%	706,4 k €	+24.1%	569,3 k €	+6.7%	533,5 k €	-38.0%	860,9 k €	-37.3%	1,4 M €	+19.6%	1,1 M €	+32.9%	864,4 k €	-41.5%	1,5 M €	-4.0%	1,5 M €	+14.2%	1,3 M €	-4.3%	1,4 M €	-10.8%	1,6 M €	+97.5%	799,4 k €	-15.7%	948,7 k €	-33.4%	1,4 M €	-16.4%	1,7 M €	+103%	841,4 k €
Other
Workforce	24,6 ETP	-8.6%	26,9 ETP	+4.3%	25,8 ETP	+2.0%	25,3 ETP	+2.4%	24,7 ETP	-8.2%	26,9 ETP	-22.5%	34,7 ETP	+0.3%	34,6 ETP	-5.7%	36,7 ETP	+11.2%	33,0 ETP	-7.6%	35,7 ETP	+4.4%	34,2 ETP	+2.1%	33,5 ETP	+11.7%	30,0 ETP	-0.7%	30,2 ETP	-5.9%	32,1 ETP	+2.6%	31,3 ETP	+4.7%	29,9 ETP	+73.8%	17,2 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 21 ended

Active mandates

Fabio Forni

Managing director · since 12 juin 2020 · until 26 mai 2026

Active

Michele Usuardi

Director · since 12 juin 2020 · until 26 mai 2026

Active

Vincenzo Prezioso

Managing director · since 12 juin 2020 · until 26 mai 2026

Active

Ended mandates

FABIO FORNI

Director · since 12 juin 2020 · until 25 mai 2026

Ended

FABIO FORNI

Director · since 12 juin 2020 · until 26 mai 2026

Ended

MICHELE USUARDI

Director · since 12 juin 2020 · until 25 mai 2026

Ended

VINCENZO PREZIOSO

Director · since 12 juin 2020 · until 25 mai 2026

Ended

At this address

Other companies at this address

Company	CBE no.
Association des Copropriétaires à Saint-Gilles Résidence Louiza - jordaanAvenue Louise, 17, Rue Jourdan, 2a, 4a et 4● Active	0873.206.371

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	09/07/2026	31/07/2025	29/07/2024	13/07/2023	26/07/2022	24/08/2021
General meeting	26/05/2026	23/06/2025	21/06/2024	07/06/2023	24/05/2022	25/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/05/2026	09/07/2026	French	PDF
Abridged model	31/12/2024	23/06/2025	31/07/2025	French	PDF
Abridged model	31/12/2023	21/06/2024	29/07/2024	French	PDF
Abridged model	31/12/2022	07/06/2023	13/07/2023	French	PDF
Abridged model	31/12/2021	24/05/2022	26/07/2022	French	PDF
Abridged modelCorrection	31/12/2020	25/05/2021	24/08/2021	French	PDF
Abridged model	31/12/2020	25/05/2021	11/06/2021	French	PDF
Abridged model	31/12/2019	12/06/2020	24/07/2020	French	PDF
Abridged model	31/12/2018	28/05/2019	24/07/2019	French	PDF
Abridged model	31/12/2017	22/05/2018	20/06/2018	French	PDF
Full model	31/12/2016	29/06/2017	27/07/2017	French	PDF
Full model	31/12/2015	24/05/2016	28/07/2016	French	PDF
Full model	31/12/2014	26/05/2015	01/07/2015	French	PDF
Full model	31/12/2013	16/06/2014	30/09/2014	French	PDF
Full model	31/12/2012	07/06/2013	23/07/2013	French	PDF
Full model	31/12/2011	04/06/2012	31/07/2012	French	PDF
Full model	31/12/2010	24/05/2011	25/07/2011	French	PDF
Full model	31/12/2009	25/05/2010	27/07/2010	French	PDF
Full model	31/12/2008	26/05/2009	23/07/2009	French	PDF
Full model	31/12/2007	27/05/2008	01/07/2008	French	PDF
Full model	31/12/2006	23/05/2007	19/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 21 ended

Active mandates

Fabio Forni

Managing director · since 12 juin 2020 · until 26 mai 2026

Active

Michele Usuardi

Director · since 12 juin 2020 · until 26 mai 2026

Active

Vincenzo Prezioso

Managing director · since 12 juin 2020 · until 26 mai 2026

Active

Ended mandates

FABIO FORNI

Director · since 12 juin 2020 · until 25 mai 2026

Ended

FABIO FORNI

Director · since 12 juin 2020 · until 26 mai 2026

Ended

MICHELE USUARDI

Director · since 12 juin 2020 · until 25 mai 2026

Ended

VINCENZO PREZIOSO

Director · since 12 juin 2020 · until 25 mai 2026

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates10/09/2026
Réélection des administrateurs - administrateurs délégués
PDF
Mandates26/08/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates15/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates15/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates03/01/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates05/11/2020
DEMISSIONS, NOMINATIONS - MODIFICATION FORME JURIDIQUE
PDF
Mandates27/03/2019
DEMISSIONS, NOMINATIONS
PDF
Mandates17/03/2016
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025226,7 k €↓
2024
Annual accounts 2024273,8 k €↑
2023
Annual accounts 2023126,7 k €↑
2022
Annual accounts 202271,2 k €↑
2021
Annual accounts 202145,7 k €↑
2020
Annual accounts 2020-209,1 k €↓
2019
Annual accounts 2019162,9 k €↑
2018
Annual accounts 2018115,6 k €↓
2017
Annual accounts 2017442,6 k €↑
2016
Annual accounts 2016-66,4 k €↑
2015
Annual accounts 2015-441,5 k €↑
2014
Annual accounts 2014-702,3 k €↓
2013
Annual accounts 2013381,2 k €↑
2012
Annual accounts 2012-556 k €↓
2011
Annual accounts 201133,5 k €↓
2010
Annual accounts 2010265,8 k €↑
2009
Annual accounts 2009-392,3 k €↑
2008
Annual accounts 2008-511,8 k €↓
2006
Annual accounts 200624 k €
16/01/1986
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

GNAP

Overview

What does GNAP do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline