ACTIVE

GM ASSOCIATION

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Financial year 2025 · Closed on 31/12/2025

Net result1,2 M €+118,1 %over 1 year

Gross margin2,9 M €+47,6 %over 1 year

Equity2,6 M €+93,2 %over 1 year

Workforce27,6 ETP

Identity

Source · BCE/KBO

GM ASSOCIATION is a Private limited company incorporated in 2018. Its main activity is: Manufacture of computers and peripheral equipment. Its registered office is in Genappe. It employs on average 27,6 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0715.399.546
Incorporation: 03/12/2018
Legal form: Private limited company
Registered office: Rue du Château 95
1470 Genappe · WallonieSee on map
Contributed capital: 12 400,00 €
Latest accounts: 31/12/2025
Average workforce: 27,6 ETP

Activities (NACE)

26200Manufacture of computers and peripheral equipment· main 47910Retail sale via mail order houses or via Internet 62020Computer consultancy activities 62200Computer programming, consultancy and related activities 47400Retail sale of information and communication equipment in specialised stores 61100Wired telecommunications activities+5

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 7 filings

Trend over 7 financial years

	2025		2024		2023		2022		2021
Income statement
Gross margin	2,9 M €	+47.6%	2 M €	+20.0%	1,6 M €	+269%	443,9 k €	+165%	167,7 k €
EBITDA	1,7 M €	+76.1%	990,8 k €	-14.8%	1,2 M €	+300%	290,4 k €	+77.3%	163,8 k €
Operating result	1,6 M €	+79.9%	910,1 k €	-19.2%	1,1 M €	+316%	270,7 k €	+75.6%	154,2 k €
Net result	1,2 M €	+118%	567,3 k €	-21.6%	723,8 k €	+269%	196,1 k €	+54.5%	126,9 k €
Balance sheet
Equity	2,6 M €	+93.2%	1,3 M €	+74.6%	760,2 k €	+72.8%	440 k €	+80.4%	243,9 k €
Total assets	13,5 M €	+129%	5,9 M €	+15.9%	5,1 M €	+203%	1,7 M €	+358%	365,3 k €
Cash	2,9 M €	+34.5%	2,2 M €	-20.3%	2,7 M €	+245%	796,9 k €	+2123%	35,8 k €
Debts	8,9 M €	+101%	4,5 M €	+9.2%	4,1 M €	+232%	1,2 M €	+909%	121,4 k €
Other
Workforce	27,6 ETP		–		–		–		–

Valuation

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
GAUTHIER IMANDT	Directorsince 22/02/2021
MATHIS CHARLIER	Director

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MATHIS CHARLIER HANCIAUX	Director22/02/2021 → 2021 accounts
GAETAN LIEKENS	Director03/12/2018 → 2020 accounts

Other companies at this address

Rue du Château 95 1470 Genappe

Company	CBE no.
GAUTHIER MATHIS IMMOBILIERE● Active	1003.532.603
ZandC Capital● Active	1041.419.120

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Abridged 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	27/08/2026	26/08/2025	30/08/2024	26/07/2023	18/07/2022	20/07/2021
General meeting	24/06/2026	25/06/2025	28/06/2024	28/06/2023	29/06/2022	30/06/2021
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, 7 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	24/06/2026	27/08/2026	French	PDF
Micro model	31/12/2024	25/06/2025	26/08/2025	French	PDF
Micro model	31/12/2023	28/06/2024	30/08/2024	French	PDF
Micro model	31/12/2022	28/06/2023	26/07/2023	French	PDF
Micro model	31/12/2021	29/06/2022	18/07/2022	French	PDF
Micro model	31/12/2020	30/06/2021	20/07/2021	French	PDF
Micro model	31/12/2019	24/06/2020	29/08/2020	French	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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.

Board of directors

Source · NBB, accounts to 31/12/2025

2 active · 2 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
GAUTHIER IMANDT	Directorsince 22/02/2021
MATHIS CHARLIER	Director

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
MATHIS CHARLIER HANCIAUX	Director22/02/2021 → 2021 accounts
GAETAN LIEKENS	Director03/12/2018 → 2020 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Other10/03/2025
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - DIVERS
PDF
Registered office05/02/2025
MAATSCHAPPELIJKE ZETEL - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates10/03/2021
DOEL - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Registered office23/02/2021
SIEGE SOCIAL
PDF
Other05/12/2018
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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

Filings7 filings

Mandates

GAUTHIER IMANDT

MATHIS CHARLIER

MATHIS CHARLIER HANCIAUX

GAETAN LIEKENS

201820192020202120222023202420252026

GM ASSOCIATION

Rue du Château 95, 1470 GenappeDa Vincilaan 1, 1930 Zaventem

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue du Château 95, 1470 GenappeCurrent	accounts 2024 → 2025	Accounts 2025 · 2026-00432548
Da Vincilaan 1, 1930 Zaventem	accounts 2021 → 2023	Accounts 2023 · 2024-00407495

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
GM ASSOCIATIONCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00432548

Events

2025
Annual accounts 20251,2 M €↑
2024
Annual accounts 2024567,3 k €↓
2023
Annual accounts 2023723,8 k €↑
2022
Annual accounts 2022196,1 k €↑
2021
Annual accounts 2021126,9 k €↑
2020
Annual accounts 202078,7 k €↑
2019
Annual accounts 201925,9 k €
03/12/2018
IncorporationPrivate limited company

GM ASSOCIATION

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