ACTIVE

GEM - EXCEL

Financial year 2025 · Closed on 31/12/2025

Net result-140,4 k €+5,5 %over 1 year

Gross margin60,5 k €+150,5 %over 1 year

Equity256,4 k €-35,4 %over 1 year

Identity

Source · BCE/KBO

GEM - EXCEL is a Public limited company incorporated in 2002. Its main activity is: Wholesale of other intermediate products. Its registered office is in Antwerpen.

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0478.805.163
Incorporation: 18/11/2002
Legal form: Public limited company
Registered office: Schupstraat 18/20
2018 Antwerpen · FlandreSee on map
Contributed capital: 62 500,00 €
Latest accounts: 31/12/2025

Activities (NACE)

46761Wholesale of other intermediate products· main 46861Wholesale trade, except of motor vehicles and motorcycles 51561Air transport

Signals

Positive EBITDAHealthy social debts

Financials

Source · NBB, 20 filings

Trend over 19 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	60,5 k €	+150%	-119,8 k €	-104%	-58,8 k €	-152%	113,9 k €	-59.5%	281,1 k €
EBITDA	19,5 k €	+112%	-156 k €	-8.4%	-143,9 k €	-273%	83,4 k €	+125%	-334,4 k €
Operating result	9,4 k €	+106%	-162 k €	-12.2%	-144,4 k €	-274%	82,9 k €	+125%	-335,3 k €
Net result	-140,4 k €	+5.5%	-148,6 k €	+2.8%	-152,9 k €	-303%	75,2 k €	+122%	-343,7 k €
Balance sheet
Equity	256,4 k €	-35.4%	396,7 k €	-27.2%	545,3 k €	-21.9%	698,2 k €	+12.1%	623 k €
Total assets	4 M €	-12.1%	4,6 M €	-2.9%	4,7 M €	-7.0%	5,1 M €	+3.5%	4,9 M €
Cash	129,4 k €	-20.6%	163,1 k €	-60.4%	412,2 k €	-51.6%	851,7 k €	-14.3%	994 k €
Debts	3,8 M €	-9.9%	4,2 M €	+0.3%	4,2 M €	-4.6%	4,4 M €	+2.3%	4,3 M €
Other
Workforce	–		1,0 ETP	-33.3%	1,5 ETP	-6.3%	1,6 ETP	0.0%	1,6 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
RACHEL SPITZER	Managing directorsince 01/01/2020
BENJAMIN SPITZER	Directorsince 26/06/2017

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
PINCHAS NECHEMJA KERNBERG	Managing director01/04/2015 → 2018 accounts
PINCHAS KERNBERG	Managing directorlisted until the 2014 accounts
MARC SPITZER	Managing director2013 accounts

Other companies at this address

Schupstraat 18/20 2018 Antwerpen

Company	CBE no.
BRON CORPORATION● Active	0802.958.575
KESSEL DIAMOND MANUFACTURING COMPANY● Active	0418.187.982
Masyco● Active	0415.015.389
RAINBOW INVESTMENTS● Active	0462.127.695
WERDI● Active	0547.992.194

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Micro 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	27/07/2026	26/06/2025	15/07/2024	27/06/2023	22/09/2022	22/10/2021
General meeting	25/06/2026	25/06/2025	25/06/2024	26/06/2023	25/06/2022	25/06/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	25/06/2026	27/07/2026	Dutch	PDF
Abridged model	31/12/2024	25/06/2025	26/06/2025	Dutch	PDF
Abridged model	31/12/2023	25/06/2024	15/07/2024	Dutch	PDF
Abridged model	31/12/2022	26/06/2023	27/06/2023	Dutch	PDF
Abridged model	31/12/2021	25/06/2022	22/09/2022	Dutch	PDF
Abridged model	31/12/2020	25/06/2021	22/10/2021	Dutch	PDF
Abridged model	31/12/2019	25/06/2020	31/07/2020	Dutch	PDF
Abridged model	31/12/2018	25/06/2019	18/07/2019	Dutch	PDF
Abridged model	31/12/2017	25/06/2018	26/06/2018	Dutch	PDF
Abridged model	31/12/2016	26/06/2017	13/07/2017	Dutch	PDF
Abridged model	31/12/2015	25/06/2016	31/08/2016	Dutch	PDF
Abridged model	31/12/2014	25/06/2015	30/07/2015	Dutch	PDF
Abridged model	31/12/2013	25/06/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	25/06/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	25/06/2012	01/08/2012	Dutch	PDF
Abridged model	31/12/2010	25/06/2011	19/07/2011	Dutch	PDF
Abridged model	31/12/2009	25/06/2010	30/07/2010	Dutch	PDF
Abridged model	31/12/2008	25/06/2009	28/08/2009	Dutch	PDF
Abridged model	31/12/2007	25/06/2008	30/07/2008	Dutch	PDF
Abridged model	31/12/2006	25/06/2007	11/09/2007	Dutch	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 3 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
RACHEL SPITZER	Managing directorsince 01/01/2020
BENJAMIN SPITZER	Directorsince 26/06/2017

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
PINCHAS NECHEMJA KERNBERG	Managing director01/04/2015 → 2018 accounts
PINCHAS KERNBERG	Managing directorlisted until the 2014 accounts
MARC SPITZER	Managing director2013 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates23/02/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Mandates18/02/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates26/10/2017
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring17/08/2016
ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring17/05/2016
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates03/08/2015
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares10/02/2012
KAPITAAL - AANDELEN
PDF
Mandates24/11/2011
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings19 filings

Mandates

RACHEL SPITZER

BENJAMIN SPITZER

PINCHAS NECHEMJA KERNBERG

PINCHAS KERNBERG

MARC SPITZER

2002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026

GEM - EXCEL

Schupstraat 18/20, 2018 Antwerp-2018

Managing director

Director

Managing director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Schupstraat 18/20, 2018 Antwerp-2018Current	accounts 2021 → 2025	Accounts 2025 · 2026-00349651

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
GEM - EXCELCurrent	accounts 2007 → 2025	Accounts 2025 · 2026-00349651

Events

2025
Annual accounts 2025-140,4 k €↑
2024
Annual accounts 2024-148,6 k €↑
2023
Annual accounts 2023-152,9 k €↓
2022
Annual accounts 202275,2 k €↑
2021
Annual accounts 2021-343,7 k €↓
2020
Annual accounts 2020-153,7 k €↓
2019
Annual accounts 201997,6 k €↓
2018
Annual accounts 2018488,1 k €↑
2017
Annual accounts 2017171,7 k €↓
2016
Annual accounts 2016251,3 k €↑
2015
Annual accounts 20158,1 k €↑
2014
Annual accounts 20147,6 k €↑
2013
Annual accounts 20135,4 k €↑
2012
Annual accounts 2012-15,2 k €↓
2011
Annual accounts 20114,1 k €↓
2010
Annual accounts 201011,6 k €↑
2009
Annual accounts 20092,5 k €↓
2008
Annual accounts 20082,5 k €↓
2007
Annual accounts 20076,5 k €
18/11/2002
IncorporationPublic limited company

GEM - EXCEL

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events