ACTIVE

G.S.E.I.

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Financial year 2025 · closed on 31/12/2025

Net result

650,9 €

-92.2% YoY

Gross margin

23,6 k €

+4.8% YoY

Equity

1 M €

+0.1% YoY

What does G.S.E.I. do?

G.S.E.I. is a Public limited company incorporated in 1988. Its main activity is: Development of building projects. Its registered office is in Walcourt.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0433.029.873

Incorporation

06/01/1988

Legal form

Public limited company

Registered office

Rue Bel Horizon(Thy) 24
5651 Walcourt · WallonieSee on map

Contributed capital

811 550,00 €

Latest accounts

31/12/2025

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 70111Activities of head offices

Joint committees (1)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	23,6 k €	+4.8%	22,5 k €	+12.4%	20 k €	-5.3%	21,1 k €	+2.2%	20,7 k €	-6.1%	22 k €	-9.8%	24,4 k €	-43.5%	43,2 k €	-14.7%	50,6 k €	+48.3%	34,1 k €	+20.1%	28,4 k €	-18.7%	35 k €	+12.8%	31 k €	+89.0%	16,4 k €	-73.2%	61,3 k €	+10.9%	55,2 k €	-25.2%	73,8 k €	-19.0%	91,1 k €	+17.6%	77,5 k €
EBITDA	14,8 k €	+38.9%	10,7 k €	-20.0%	13,3 k €	-11.3%	15,1 k €	+2.2%	14,7 k €	-0.5%	14,8 k €	-20.8%	18,7 k €	-50.3%	37,6 k €	-14.5%	43,9 k €	+53.7%	28,6 k €	+124%	12,7 k €	-56.0%	29 k €	+15.9%	25 k €	+133%	10,7 k €	-80.4%	54,7 k €	+8.3%	50,5 k €	-16.1%	60,2 k €	-17.2%	72,7 k €	+26.4%	57,5 k €
Operating result	-11,4 k €	+2.0%	-11,6 k €	-53400%	-21,8 €	-101%	3,4 k €	+32.3%	2,6 k €	-25.6%	3,4 k €	-53.0%	7,3 k €	-74.2%	28,4 k €	-15.7%	33,7 k €	+92.7%	17,5 k €	+787%	2 k €	-88.1%	16,6 k €	+23.8%	13,4 k €	+270%	-7,9 k €	-122%	36 k €	+13.6%	31,7 k €	-23.2%	41,3 k €	-23.2%	53,8 k €	+101%	26,8 k €
Net result	650,9 €	-92.2%	8,3 k €	-0.6%	8,4 k €	+2187%	-400,6 €	-121%	1,9 k €	-47.9%	3,6 k €	-17.1%	4,4 k €	-78.5%	20,4 k €	-17.0%	24,6 k €	+49.4%	16,5 k €	-57.5%	38,7 k €	-23.8%	50,8 k €	+167%	19,1 k €	+69.5%	11,3 k €	-69.1%	36,5 k €	+15.2%	31,7 k €	-31.8%	46,5 k €	+0.9%	46,1 k €	+101%	23 k €
Balance sheet
Equity	1 M €	+0.1%	1 M €	+0.8%	1 M €	+0.8%	1 M €	-0.0%	1 M €	+0.6%	1 M €	+0.4%	1 M €	+0.4%	1 M €	+2.1%	984,8 k €	+2.6%	960,2 k €	+1.7%	943,7 k €	+92.2%	491 k €	-45.5%	900,2 k €	+2.2%	881,1 k €	+1.3%	869,9 k €	+4.4%	833,4 k €	+4.0%	801,7 k €	+6.2%	755,3 k €	+6.5%	709,2 k €
Total assets	1 M €	-0.2%	1 M €	+0.6%	1 M €	-0.0%	1 M €	+1.0%	1 M €	+0.5%	1 M €	-0.6%	1 M €	+0.4%	1 M €	+2.3%	1 M €	+2.9%	975,4 k €	-0.1%	976,6 k €	+71.0%	571,1 k €	-36.6%	900,9 k €	+2.1%	882,4 k €	+0.5%	877,9 k €	+4.0%	844,3 k €	+4.1%	810,9 k €	+5.1%	771,9 k €	+5.9%	728,9 k €
Cash	225,4 k €	+126%	100 k €	-39.8%	166 k €	-74.8%	659,7 k €	-5.1%	695,2 k €	-16.3%	831 k €	+6.4%	781,3 k €	+9.1%	716,3 k €	-4.3%	748,4 k €	+9.2%	685,6 k €	-2.3%	701,8 k €	+222%	218 k €	-59.4%	536,5 k €	+3.2%	520,1 k €	+8.5%	479,3 k €	+1710%	26,5 k €	+44.8%	18,3 k €	+16.3%	15,7 k €	+177%	5,7 k €
Debts	2,9 k €	-33.0%	4,3 k €	-36.1%	6,8 k €	-55.2%	15,1 k €	+269%	4,1 k €	-15.4%	4,8 k €	-64.6%	13,7 k €	+0.8%	13,6 k €	+27.0%	10,7 k €	+67.1%	6,4 k €	-72.9%	23,5 k €	-66.5%	70,2 k €	+9440%	735,7 €	-42.3%	1,3 k €	-84.1%	8 k €	-26.8%	10,9 k €	+19.8%	9,1 k €	-45.1%	16,6 k €	-15.5%	19,7 k €
Other
Workforce	–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		0,3 ETP	-40.0%	0,5 ETP	+66.7%	0,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Monique BOURTEMBOURG

Director · since 28 décembre 2023

Active

Ended mandates

Monique BOURTEMBOURG

Director

Ended

MONIQUE BOURTEMBOURG

Administrator - manager

Ended

MONIQUE BOURTEMBOURG

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	26/05/2026	26/06/2025	16/05/2024	05/06/2023	17/05/2022	21/05/2021
General meeting	15/05/2026	15/05/2025	15/05/2024	15/05/2023	16/05/2022	20/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	15/05/2026	26/05/2026	French	PDF
Micro model	31/12/2024	15/05/2025	26/06/2025	French	PDF
Micro model	31/12/2023	15/05/2024	16/05/2024	French	PDF
Micro model	31/12/2022	15/05/2023	05/06/2023	French	PDF
Micro model	31/12/2021	16/05/2022	17/05/2022	French	PDF
Micro model	31/12/2020	20/05/2021	21/05/2021	French	PDF
Micro model	31/12/2019	21/05/2020	23/06/2020	French	PDF
Micro model	31/12/2018	16/05/2019	20/05/2019	French	PDF
Micro model	31/12/2017	17/05/2018	22/05/2018	French	PDF
Micro model	31/12/2016	18/05/2017	19/05/2017	French	PDF
Abridged model	31/12/2015	19/05/2016	20/05/2016	French	PDF
Abridged model	31/12/2014	21/05/2015	22/05/2015	French	PDF
Abridged model	31/12/2013	15/05/2014	28/07/2014	French	PDF
Abridged model	31/12/2012	16/05/2013	02/07/2013	French	PDF
Abridged model	31/12/2011	18/05/2012	25/05/2012	French	PDF
Abridged model	31/12/2010	19/05/2011	19/07/2011	French	PDF
Abridged model	31/12/2009	15/05/2010	14/07/2010	French	PDF
Abridged model	31/12/2008	15/05/2009	28/08/2009	French	PDF
Abridged model	31/12/2007	15/05/2008	07/07/2008	French	PDF
Abridged model	31/12/2006	30/06/2007	30/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 1 active · 3 ended

Active mandates

Monique BOURTEMBOURG

Director · since 28 décembre 2023

Active

Ended mandates

Monique BOURTEMBOURG

Director

Ended

MONIQUE BOURTEMBOURG

Administrator - manager

Ended

MONIQUE BOURTEMBOURG

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates17/01/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Capital / shares14/02/2014
CAPITAL, ACTIONS
PDF
Capital / shares12/01/2012
CAPITAL, ACTIONS
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 2025650,9 €↓
2024
Annual accounts 20248,3 k €↓
2023
Annual accounts 20238,4 k €↑
2022
Annual accounts 2022-400,6 €↓
2021
Annual accounts 20211,9 k €↓
2019
Annual accounts 20193,6 k €↓
2018
Annual accounts 20184,4 k €↓
2017
Annual accounts 201720,4 k €↓
2016
Annual accounts 201624,6 k €↑
2015
Annual accounts 201516,5 k €↓
2014
Annual accounts 201438,7 k €↓
2013
Annual accounts 201350,8 k €↑
2012
Annual accounts 201219,1 k €↑
2011
Annual accounts 201111,3 k €↓
2010
Annual accounts 201036,5 k €↑
2009
Annual accounts 200931,7 k €↓
2008
Annual accounts 200846,5 k €↑
2007
Annual accounts 200746,1 k €↑
2006
Annual accounts 200623 k €
06/01/1988
IncorporationPublic 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

G.S.E.I.

Overview

What does G.S.E.I. do?

Trend over 19 financial years

Indicative valuation

Board of directors

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