ACTIVE

GCEF

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Financial year 2025 · closed on 31/12/2025

Net result

21 k €

-17.2% YoY

Gross margin

56,2 k €

-35.0% YoY

Equity

93,5 k €

+19.1% YoY

What does GCEF do?

GCEF is a Private limited company incorporated in 1998. Its main activity is: Accounting, bookkeeping and auditing activities; tax consultancy. Its registered office is in Lasne.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0463.411.065

Incorporation

20/05/1998

Legal form

Private limited company

Registered office

Avenue Henry Boucquéau 3
1380 Lasne · WallonieSee on map

Contributed capital

15 183,64 €

Latest accounts

31/12/2025

Activities (NACE)

69201Accounting, bookkeeping and auditing activities; tax consultancy· main 69202Accounting, bookkeeping and auditing activities; tax consultancy 74121Specialised design activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	56,2 k €	-35.0%	86,5 k €	+75.2%	49,4 k €	-15.6%	58,5 k €	+13.0%	51,7 k €	+3.1%	50,2 k €	+20.1%	41,8 k €	+2.4%	40,8 k €	-2.8%	42 k €	+16.3%	36,1 k €	+13.7%	31,7 k €	-10.3%	35,4 k €	+49.0%	23,8 k €	-3.5%	24,6 k €	+60.2%	15,4 k €	+14.0%	13,5 k €	-6.3%	14,4 k €	+54.8%	9,3 k €	+1.7%	9,1 k €	+16.5%	7,8 k €
EBITDA	28,2 k €	-53.5%	60,5 k €	+135%	25,7 k €	-28.7%	36 k €	+23.8%	29,1 k €	+4.9%	27,7 k €	+32.2%	21 k €	+2.1%	20,6 k €	+8.0%	19 k €	-6.2%	20,3 k €	-31.9%	29,8 k €	-18.3%	36,5 k €	+65.8%	22 k €	-5.4%	23,3 k €	+71.2%	13,6 k €	+37.1%	9,9 k €	-30.1%	14,2 k €	+61.0%	8,8 k €	-0.8%	8,9 k €	+13.4%	7,8 k €
Operating result	31,4 k €	-14.7%	36,9 k €	+69.4%	21,8 k €	+0.3%	21,7 k €	+5.2%	20,6 k €	-2.5%	21,1 k €	+73.6%	12,2 k €	+7.7%	11,3 k €	-9.9%	12,6 k €	+13.8%	11 k €	-50.6%	22,3 k €	-16.9%	26,9 k €	+76.3%	15,2 k €	+32.0%	11,5 k €	+132%	5 k €	+45.7%	3,4 k €	-50.4%	6,9 k €	+419%	1,3 k €	-60.2%	3,3 k €	-28.4%	4,7 k €
Net result	21 k €	-17.2%	25,4 k €	+68.2%	15,1 k €	-2.9%	15,6 k €	+8.2%	14,4 k €	-3.6%	14,9 k €	+67.4%	8,9 k €	+5.6%	8,4 k €	-11.9%	9,6 k €	+6.1%	9 k €	-50.2%	18,1 k €	-15.0%	21,3 k €	+51.4%	14,1 k €	+51.6%	9,3 k €	+138%	3,9 k €	+108%	1,9 k €	-65.5%	5,5 k €	+616%	-1,1 k €	-257%	675 €	-64.8%	1,9 k €
Balance sheet
Equity	93,5 k €	+19.1%	78,5 k €	+18.7%	66,1 k €	+0.1%	66 k €	+9.2%	60,5 k €	+11.8%	54,1 k €	+19.7%	45,2 k €	+24.6%	36,3 k €	+30.3%	27,9 k €	+27.9%	21,8 k €	+10.3%	19,7 k €	+56.7%	12,6 k €	+101%	6,3 k €	+188%	2,2 k €	-0.4%	2,2 k €	+5.4%	2,1 k €	+133%	888,5 €	+153%	-1,7 k €	-7.0%	-1,6 k €	+59.6%	-3,9 k €
Total assets	164,5 k €	+10.6%	148,8 k €	+40.9%	105,6 k €	+1.1%	104,5 k €	+7.4%	97,3 k €	+5.3%	92,4 k €	+30.9%	70,6 k €	+37.6%	51,3 k €	+6.0%	48,4 k €	-2.7%	49,7 k €	-3.6%	51,5 k €	+17.4%	43,9 k €	+24.2%	35,4 k €	+24.5%	28,4 k €	+6.7%	26,6 k €	+31.2%	20,3 k €	-10.6%	22,7 k €	-10.5%	25,3 k €	-16.7%	30,4 k €	-14.0%	35,4 k €
Cash	73,4 k €	+11.8%	65,6 k €	+20.1%	54,6 k €	-23.7%	71,6 k €	+14.5%	62,5 k €	+12.7%	55,5 k €	+117%	25,6 k €	+7.7%	23,8 k €	+15.6%	20,5 k €	-14.1%	23,9 k €	+13.2%	21,1 k €	-11.0%	23,7 k €	+71.6%	13,8 k €	+24.8%	11,1 k €	+26.0%	8,8 k €	+217%	2,8 k €	-7.2%	3 k €	-9.9%	3,3 k €	+70.7%	1,9 k €	-49.0%	3,8 k €
Debts	71 k €	+1.1%	70,3 k €	+78.1%	39,4 k €	+2.6%	38,4 k €	+4.5%	36,8 k €	-3.8%	38,3 k €	+50.8%	25,4 k €	+80.6%	14 k €	-25.0%	18,7 k €	-28.3%	26,1 k €	-12.9%	30 k €	+1.7%	29,5 k €	+21.5%	24,3 k €	+13.4%	21,4 k €	+10.6%	19,4 k €	+32.0%	14,7 k €	-31.9%	21,6 k €	-19.5%	26,8 k €	-16.3%	32 k €	-18.0%	39 k €
Other
Workforce	–		–		0,5 ETP		–		0,5 ETP	-50.0%	1,0 ETP	0.0%	1,0 ETP	+100%	0,5 ETP	0.0%	0,5 ETP		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

VALERIE DEMAERSCHALK

Manager

Active

Ended mandates

VALERIE DEMAERSCHALK

Mandate

Ended

VALERIE DEMAERSCHALK

Director

Ended

At this address

Other companies at this address

Company	CBE no.
GENERAL INVEST● Active	0469.362.610
HEAT LIFE● Active	0828.639.326
MALU & CO.● Active	0463.515.686

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro 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	21/08/2026	27/08/2025	18/08/2024	18/06/2023	01/08/2022	22/06/2021
General meeting	26/05/2026	27/05/2025	28/05/2024	30/05/2023	31/05/2022	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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	26/05/2026	21/08/2026	French	PDF
Micro model	31/12/2024	27/05/2025	27/08/2025	French	PDF
Abridged model	31/12/2023	28/05/2024	18/08/2024	French	PDF
Abridged model	31/12/2022	30/05/2023	18/06/2023	French	PDF
Abridged model	31/12/2021	31/05/2022	01/08/2022	French	PDF
Abridged model	31/12/2020	25/05/2021	22/06/2021	French	PDF
Abridged model	31/12/2019	26/05/2020	24/08/2020	French	PDF
Abridged model	31/12/2018	28/05/2019	18/06/2019	French	PDF
Abridged model	31/12/2017	29/05/2018	13/06/2018	French	PDF
Abridged model	31/12/2016	23/05/2017	28/06/2017	French	PDF
Abridged model	31/12/2015	15/06/2016	25/08/2016	French	PDF
Abridged model	31/12/2014	10/06/2015	20/08/2015	French	PDF
Abridged model	31/12/2013	11/06/2014	17/08/2014	French	PDF
Abridged model	31/12/2012	11/06/2013	26/07/2013	French	PDF
Abridged model	31/12/2011	11/06/2012	26/07/2012	French	PDF
Abridged model	31/12/2010	31/05/2011	27/07/2011	French	PDF
Abridged model	31/12/2009	10/06/2010	06/07/2010	French	PDF
Abridged model	31/12/2008	10/06/2009	22/06/2009	French	PDF
Abridged model	31/12/2007	10/06/2008	22/07/2008	French	PDF
Abridged model	31/12/2006	10/06/2007	19/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

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 · 2 ended

Active mandates

VALERIE DEMAERSCHALK

Manager

Active

Ended mandates

VALERIE DEMAERSCHALK

Mandate

Ended

VALERIE DEMAERSCHALK

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates29/11/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DIVERS - OBJET - DEMISSIONS, NOMINATIONS
PDF
Other28/03/2007
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 202521 k €↓
2024
Annual accounts 202425,4 k €↑
2023
Annual accounts 202315,1 k €↓
2022
Annual accounts 202215,6 k €↑
2021
Annual accounts 202114,4 k €↓
2020
Annual accounts 202014,9 k €↑
2019
Annual accounts 20198,9 k €↑
2018
Annual accounts 20188,4 k €↓
2017
Annual accounts 20179,6 k €↑
2016
Annual accounts 20169 k €↓
2015
Annual accounts 201518,1 k €↓
2014
Annual accounts 201421,3 k €↑
2013
Annual accounts 201314,1 k €↑
2012
Annual accounts 20129,3 k €↑
2011
Annual accounts 20113,9 k €↑
2010
Annual accounts 20101,9 k €↓
2009
Annual accounts 20095,5 k €↑
2008
Annual accounts 2008-1,1 k €↓
2007
Annual accounts 2007675 €↓
2006
Annual accounts 20061,9 k €
20/05/1998
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

GCEF

Overview

What does GCEF do?

Trend over 20 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