ACTIVE

GST RECYCLING

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Financial year 2025 · Closed on 31/12/2025

Net result135,7 k €+8,3 %over 1 year
Revenue3,2 M €-4,9 %over 1 year
Equity2,3 M €+5,4 %over 1 year
Workforce6,8 ETP-22,7 %over 1 year

Identity

Source · BCE/KBO

GST RECYCLING is a Private limited company incorporated in 2004. Its main activity is: Treatment and disposal of non-hazardous waste. Its registered office is in Houthulst. It employs on average 6,8 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0866.714.103
Incorporation
10/08/2004
Legal form
Private limited company
Registered office
Poelkapellestraat 18
8650 Houthulst · FlandreSee on map
Contributed capital
100 000,00 €
Latest accounts
31/12/2025
Average workforce
6,8 ETP
Joint committees (2)
  • 142
  • 14204
Signals
ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 21 filings

Trend over 19 financial years

20252024202320222021
Income statement
Revenue3,2 M €3,4 M €3,3 M €2,8 M €2,6 M €
EBITDA902,2 k €988,8 k €1,2 M €1 M €1,2 M €
Operating result210,9 k €213,9 k €266,7 k €166,4 k €353 k €
Net result135,7 k €125,3 k €164,2 k €102,2 k €160,7 k €
Balance sheet
Equity2,3 M €2,2 M €2,1 M €2 M €1,9 M €
Total assets5,9 M €6 M €5,6 M €6,4 M €6,2 M €
Cash180,5 k €195,1 k €276,2 k €216,3 k €223,9 k €
Debts3,6 M €3,7 M €3,4 M €4,3 M €4,3 M €
Other
Workforce6,8 ETP8,8 ETP9,2 ETP10,6 ETP9,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

1 active · 4 ended

Active mandates

Xavier GARWIG

Director

Active

Ended mandates

Jeannine LEFIEF

Manager · until 27 juin 2013

Ended
Jeannine LEFIEF

Manager

Ended
Steven GARWIG

Manager

Ended
Xavier GARWIG

Manager

Ended

Other companies at this address

Poelkapellestraat 18 8650 Houthulst
CompanyCBE no.
GARWIG● Active
0417.150.280
GARWIG LOGISTICS● Active
0827.893.218

Full financial information

Source · NBB
202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date31/08/202629/08/202530/08/202431/08/202331/08/202230/08/2021
General meeting25/06/202628/08/202530/08/202431/08/202329/08/202230/08/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 21 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202525/06/202631/08/2026DutchPDF
Full model31/12/202428/08/202529/08/2025DutchPDF
Full model31/12/202330/08/202430/08/2024DutchPDF
Full model31/12/202231/08/202331/08/2023DutchPDF
Full model31/12/202129/08/202231/08/2022DutchPDF
Full model31/12/202030/08/202130/08/2021DutchPDF
Full model31/12/201922/08/202027/08/2020DutchPDF
Full modelCorrection31/12/201823/07/202017/08/2020DutchPDF
Full model31/12/201830/08/201931/08/2019DutchPDF
Abridged model31/12/201714/09/201824/09/2018DutchPDF
Abridged model31/12/201626/04/201720/07/2017DutchPDF
Abridged model31/12/201523/06/201630/08/2016DutchPDF
Abridged model31/12/201425/06/201513/08/2015DutchPDF
Abridged model31/12/201326/06/201424/07/2014DutchPDF
Abridged model31/12/201227/06/201302/07/2013DutchPDF
Abridged model31/12/201128/06/201207/08/2012DutchPDF
Abridged model30/06/201023/12/201004/01/2011DutchPDF
Abridged model30/06/200924/12/200905/01/2010DutchPDF
Abridged model30/06/200826/12/200830/12/2008DutchPDF
Abridged model30/06/200727/12/200721/01/2008DutchPDF
Abridged model30/06/200628/12/200602/01/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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

1 active · 4 ended

Active mandates

Xavier GARWIG

Director

Active

Ended mandates

Jeannine LEFIEF

Manager · until 27 juin 2013

Ended
Jeannine LEFIEF

Manager

Ended
Steven GARWIG

Manager

Ended
Xavier GARWIG

Manager

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates02/01/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates23/07/2013
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other03/08/2011
    BOEKJAAR
    PDF
  • Other18/08/2004
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    PDF

Similar companies

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

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025135,7 k €↑
  2. 2024
    Annual accounts 2024125,3 k €↓
  3. 2023
    Annual accounts 2023164,2 k €↑
  4. 2022
    Annual accounts 2022102,2 k €↓
  5. 2021
    Annual accounts 2021160,7 k €↑
  6. 2020
    Annual accounts 202073,2 k €↓
  7. 2019
    Annual accounts 2019203,6 k €↑
  8. 2018
    Annual accounts 201884,7 k €↓
  9. 2017
    Annual accounts 2017655,5 k €↑
  10. 2016
    Annual accounts 2016119,3 k €↑
  11. 2015
    Annual accounts 2015105,1 k €↑
  12. 2014
    Annual accounts 201442,5 k €↓
  13. 2013
    Annual accounts 201397,3 k €↓
  14. 2012
    Annual accounts 2012140,7 k €↓
  15. 2011
    Annual accounts 2011603,6 k €↑
  16. 2010
    Annual accounts 2010516,3 k €↑
  17. 2009
    Annual accounts 20095,8 k €↑
  18. 2008
    Annual accounts 2008-694,7 k €↓
  19. 2007
    Annual accounts 2007-281,5 k €
  20. 10/08/2004
    IncorporationPrivate limited company