ACTIVE

GEFOR

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Financial year 2025 · closed on 30/09/2025

Net result

68,9 k €

+566.8% YoY

Revenue

1,5 M €

Equity

529,5 k €

+15.0% YoY

Workforce

4,4 ETP

-22.8% YoY

What does GEFOR do?

GEFOR is a Private limited company incorporated in 1999. Its main activity is: Test drilling and boring. Its registered office is in Grâce-Hollogne. It employs on average 4,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0465.949.693

Incorporation

27/04/1999

Legal form

Private limited company

Registered office

Rue de l'Informatique 3
4460 Grâce-Hollogne · WallonieSee on map

Contributed capital

326 700,00 €

Latest accounts

30/09/2025

Average workforce

4,4 ETP

Activities (NACE)

43130Test drilling and boring· main 43130Test drilling and boring 45120Sale of motor vehicles 43120Site preparation 43120Site preparation 43990Other specialised construction activities n.e.c.+1

Joint committees (3)

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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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
Revenue	1,5 M €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	278,7 k €	-0.7%	280,7 k €	-19.2%	347,5 k €	+349%	-139,4 k €	-115%	946,9 k €	+96.6%	481,7 k €	-16.5%	576,7 k €	+18.3%	487,4 k €	+36.7%	356,5 k €	-20.3%	447,2 k €	+116%	207,3 k €	-6.7%	222,2 k €	+9.5%	202,8 k €	+43.8%	141 k €	-47.1%	266,6 k €	-0.5%	267,9 k €	+64.7%	162,7 k €	+47.2%	110,5 k €	+119%	50,6 k €	+11.5%	45,4 k €
Operating result	101,3 k €	+129%	44,2 k €	-37.6%	70,8 k €	+115%	-465,6 k €	-166%	704,7 k €	+548%	108,8 k €	-43.3%	191,9 k €	+87.4%	102,4 k €	+40.2%	73 k €	-71.0%	252,2 k €	+261%	69,9 k €	+16.8%	59,9 k €	+1374%	4,1 k €	+106%	-64,3 k €	-1018%	7 k €	-80.9%	36,7 k €	+340%	-15,3 k €	-26.2%	-12,1 k €	-173%	16,5 k €	-33.9%	25 k €
Net result	68,9 k €	+567%	10,3 k €	-64.6%	29,2 k €	+107%	-439 k €	-188%	501,5 k €	+774%	57,4 k €	-44.1%	102,7 k €	+157%	40 k €	+103%	19,7 k €	-89.9%	195,5 k €	+458%	35 k €	+103%	17,2 k €	+146%	-37,5 k €	+48.1%	-72,1 k €	-1285%	6,1 k €	-69.8%	20,2 k €	+223%	-16,4 k €	+62.2%	-43,4 k €	-3415%	1,3 k €	-44.4%	2,4 k €
Balance sheet
Equity	529,5 k €	+15.0%	460,6 k €	+2.3%	450,2 k €	+6.9%	421 k €	-51.0%	860 k €	+86.4%	461,4 k €	+3.2%	446,9 k €	+15.1%	388,5 k €	+0.0%	388,4 k €	+5.3%	368,7 k €	+66.3%	221,7 k €	+25.5%	176,7 k €	+7.2%	164,8 k €	+53.1%	107,6 k €	-46.6%	201,4 k €	+3.0%	195,6 k €	+2.0%	191,8 k €	+20.5%	159,2 k €	+55.2%	102,5 k €	+1.3%	101,2 k €
Total assets	2,3 M €	-2.4%	2,4 M €	-8.1%	2,6 M €	-10.6%	2,9 M €	+15.3%	2,5 M €	+0.3%	2,5 M €	+2.4%	2,5 M €	+4.6%	2,4 M €	+1.8%	2,3 M €	+15.2%	2 M €	+31.5%	1,5 M €	-9.1%	1,7 M €	-1.8%	1,7 M €	-3.4%	1,8 M €	+70.2%	1 M €	-10.6%	1,2 M €	+23.1%	946 k €	-16.0%	1,1 M €	+215%	357 k €	-4.3%	373,2 k €
Cash	146,9 k €	-37.9%	236,5 k €	+142%	97,6 k €	-24.6%	129,4 k €	+146%	52,5 k €	-68.6%	167,4 k €	-3.5%	173,6 k €	+63.3%	106,3 k €	+111%	50,3 k €	-53.4%	107,9 k €	+180%	38,5 k €	-48.9%	75,3 k €	+20.3%	62,7 k €	+43.4%	43,7 k €	+18.0%	37 k €	+13.0%	32,8 k €	+161%	12,5 k €	-40.8%	21,2 k €	+332%	4,9 k €	-69.1%	15,9 k €
Debts	1,8 M €	-9.1%	1,9 M €	-10.3%	2,2 M €	-13.8%	2,5 M €	+54.4%	1,6 M €	-21.6%	2,1 M €	+2.3%	2 M €	+3.6%	1,9 M €	+1.4%	1,9 M €	+17.7%	1,6 M €	+25.3%	1,3 M €	-13.2%	1,5 M €	-3.1%	1,5 M €	-7.1%	1,7 M €	+98.1%	839 k €	-13.3%	968 k €	+28.5%	753,5 k €	-22.0%	966,6 k €	+280%	254,5 k €	-6.4%	271,9 k €
Other
Workforce	4,4 ETP	-22.8%	5,7 ETP	-34.5%	8,7 ETP	+14.5%	7,6 ETP	+40.7%	5,4 ETP	-19.4%	6,7 ETP	-5.6%	7,1 ETP	-4.1%	7,4 ETP	+1.4%	7,3 ETP	-5.2%	7,7 ETP	-1.3%	7,8 ETP	0.0%	7,8 ETP	+8.3%	7,2 ETP	-11.1%	8,1 ETP	+2.5%	7,9 ETP	+17.9%	6,7 ETP	+42.6%	4,7 ETP	+62.1%	2,9 ETP		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 3 active · 7 ended

Active mandates

Steven FORTHOMME

Director · since 21 mai 2025

Active

Mario MATHONET

Director · since 01 décembre 2023 · until 21 mai 2025

Active

Roger GHELEN

Director · since 01 décembre 2023 · until 21 mai 2025

Active

Ended mandates

Steven FORTHOMME

Administrateur · since 21 mai 2025

Ended

Mario MATHONET

Administrateur · since 01 décembre 2023 · until 21 mai 2025

Ended

Roger GEHLEN

Administrateur · since 01 décembre 2023 · until 21 mai 2025

Ended

Mario MATHONET

Mandate · since 15 mars 2008

Ended

At this address

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AM HYDROGAZ - COLAS● Active	0691.565.062
AM HYDROGAZ - TEGEC● Active	0691.787.964
ENTREPRISES HYDROGAZ● Active	0404.257.990
MEGABEL● Active	0453.890.813
René DERULLIEUX et fils● Active	0427.732.188
SM HYDROGAZ - AQUAFLUX● Active	0739.647.269
SM HYDROGAZ ROUSSEAUX● Active	0759.845.837
SM HYDROGAZ SA - FODETRA SA● Active	0834.869.003
SM HYDROGAZ - SODRAEP● Active	0739.642.222
SM HYDROGAZ TEGEC (HERON)● Active	0803.059.733
SM HYDROGAZ VERBRAEKEN INFRA● Active	0765.699.687
SM HYDROGAZ WILKIN GEHLEN● Active	0765.939.417

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	30/09/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	9 months	12 months	12 months	12 months	12 months	12 months
Filing date	09/04/2026	09/07/2025	24/06/2024	14/06/2023	30/06/2022	23/06/2021
General meeting	26/03/2026	19/06/2025	06/06/2024	01/06/2023	02/06/2022	03/06/2021
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
Abridged model	30/09/2025	26/03/2026	09/04/2026	French	PDF
Abridged model	31/12/2024	19/06/2025	09/07/2025	French	PDF
Abridged model	31/12/2023	06/06/2024	24/06/2024	French	PDF
Abridged model	31/12/2022	01/06/2023	14/06/2023	French	PDF
Abridged model	31/12/2021	02/06/2022	30/06/2022	French	PDF
Abridged model	31/12/2020	03/06/2021	23/06/2021	French	PDF
Abridged model	31/12/2019	04/06/2020	30/06/2020	French	PDF
Abridged model	31/12/2018	06/06/2019	21/10/2019	French	PDF
Abridged model	31/12/2017	07/06/2018	29/06/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	30/06/2017	French	PDF
Abridged model	31/12/2015	02/06/2016	28/06/2016	French	PDF
Abridged model	31/12/2014	04/06/2015	22/06/2015	French	PDF
Abridged model	31/12/2013	05/06/2014	12/06/2014	French	PDF
Abridged model	31/12/2012	06/06/2013	12/06/2013	French	PDF
Abridged model	31/12/2011	07/06/2012	22/06/2012	French	PDF
Abridged model	31/12/2010	03/06/2011	20/06/2011	French	PDF
Abridged model	31/12/2009	03/06/2010	17/06/2010	French	PDF
Abridged model	31/12/2008	04/06/2009	08/06/2009	French	PDF
Abridged model	31/12/2007	05/06/2008	25/06/2008	French	PDF
Abridged model	31/12/2006	12/05/2007	30/05/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 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 30/09/2025 · 3 active · 7 ended

Active mandates

Steven FORTHOMME

Director · since 21 mai 2025

Active

Mario MATHONET

Director · since 01 décembre 2023 · until 21 mai 2025

Active

Roger GHELEN

Director · since 01 décembre 2023 · until 21 mai 2025

Active

Ended mandates

Steven FORTHOMME

Administrateur · since 21 mai 2025

Ended

Mario MATHONET

Administrateur · since 01 décembre 2023 · until 21 mai 2025

Ended

Roger GEHLEN

Administrateur · since 01 décembre 2023 · until 21 mai 2025

Ended

Mario MATHONET

Mandate · since 15 mars 2008

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Other02/10/2025
ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Mandates06/06/2025
SIEGE SOCIAL - DEMISSIONS, NOMINATIONS
PDF
Mandates20/12/2023
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Capital / shares03/01/2014
CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Registered office06/02/2013
SIEGE SOCIAL
PDF
Mandates21/04/2008
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates15/01/2008
DEMISSIONS, NOMINATIONS
PDF
Mandates11/09/2007
SIEGE SOCIAL - DENOMINATION - OBJET
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 202568,9 k €↑
2024
Annual accounts 202410,3 k €↓
2023
Annual accounts 202329,2 k €↑
2022
Annual accounts 2022-439 k €↓
2021
Annual accounts 2021501,5 k €↑
2020
Annual accounts 202057,4 k €↓
2019
Annual accounts 2019102,7 k €↑
2018
Annual accounts 201840 k €↑
2017
Annual accounts 201719,7 k €↓
2016
Annual accounts 2016195,5 k €↑
2015
Annual accounts 201535 k €↑
2014
Annual accounts 201417,2 k €↑
2013
Annual accounts 2013-37,5 k €↑
2012
Annual accounts 2012-72,1 k €↓
2011
Annual accounts 20116,1 k €↓
2010
Annual accounts 201020,2 k €↑
2009
Annual accounts 2009-16,4 k €↑
2008
Annual accounts 2008-43,4 k €↓
2007
Annual accounts 20071,3 k €↓
2006
Annual accounts 20062,4 k €
27/04/1999
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

GEFOR

Overview

What does GEFOR 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