Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 4 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
GERMINA from Gent, company number BE0400041064, closed financial year 2025 with a result of € 1.4 million after tax. For that financial year GERMINA recorded a gross margin of € 2.5 million and equity of € 4.7 million. Compared with financial year 2024, the result moved from € 150,907 to € 1.4 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.
€ 4.7 million
▲ 41% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.4 million
▲ € 1.2 million vs 2024
Profit after tax over the fiscal year.
€ 14,415
▲ 189% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 4.3 million.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
€ 3.8 million
▼ 34% vs 2024
€ 743,368 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 39,061
▼ 77% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 100,000
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 238,690 | € 669,959 | € 880,147 | € 2,527,944 | ▲ 187% |
| Profit after taxes | € 79,815 | € -160,324 | € 150,907 | € 1,355,812 | ▲ € 1.2 million |
| Equity | € 1,673,368 | € 3,395,974 | € 3,306,881 | € 4,662,694 | ▲ 41% |
| Total debts | € 4,516,958 | € 6,356,663 | € 6,361,304 | € 5,692,435 | ▼ 11% |
| Cash | € 180,105 | € 30,672 | € 4,987 | € 14,415 | ▲ 189% |
| Land & buildings | € 1,031,771 | € 9,023,699 | € 8,515,377 | € 7,687,801 | ▼ 10% |
| Retained profit | € 1,603,368 | € 3,032,123 | € 2,943,030 | € 4,298,843 | ▲ 46% |
| Dividend | € 0 | € 0 | € 240,000 | € 0 | ▼ 100% |
| Bank debt | € 2,656,517 | € 5,291,211 | € 5,794,556 | € 3,837,128 | ▼ 34% |
| Balance sheet total | € 6,457,562 | € 10,159,549 | € 9,668,186 | € 10,355,129 | ▲ 7% |
Key figures of GERMINA, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to GERMINA?
What happened at GERMINA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Guy Laroy stepped down as director. NBB
- Euro Candy NV stepped down as director. NBB
- Els Laroy stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.4 million (▲ € 1.2 million vs 2024). filed late Source: NBB ↗
- Guy Laroy became a director. NBB
- Euro Candy NV became a director. NBB
- Els Laroy became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 79,815 profit in 2022 to € 1.4 million profit in 2025.
Paid € 914,731 in corporate taxes since 2022.
Best year ever: 2025, with € 1.4 million profit.
Paid out € 240,000 in dividends to the owners in total.
Management
The shares are held by Euro Candy NV (100%).
Directors
According to the 2025 annual accounts
Guy Laroy
Director
Owns 20% via Euro Candy NV
Also active at: EURO CANDY, LAROY GROUP, CEDE, NATURAL PET, LAROY GLOBAL PET NUTRITION AND CARE
since 2022 · until 2028
Managing director · represented by Laroy Carlos
Also active at: VEEVOEDERS A. LAROY, LAROY GROUP, CEDE, NATURAL PET, Flamingo Pet Products
since 2022 · until 2028
Els Laroy
Managing director
Owns 20% via Euro Candy NV
Also active at: EURO CANDY, LAROY GROUP, LAROY GLOBAL PET NUTRITION AND CARE
since 2022 · until 2028
Shareholders
Euro Candy NV · holding of Els Laroy
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Industrieweg 98
9032 Gent
Kleindokkaai 1
9000 Gent
Active since 1 October 1933
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Certifications & Partners
Hosting & Email
Email provider
Microsoft 365
Hosting
DSTNY-BACKBONE International Backbone, BE
Domain
Domain
laroygroup.com
Registered
2015-01-16
Registrar
Instra Corporation Pty Ltd.
Expires
2031-01-16
Website info
Features
Security
Details
- Company number
- 0400.041.064
- VAT number
- BE 0400.041.064
- Registered office
- Industrieweg 98, 9032 Gent
- Names & denominations
- GERMINA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 19 Feb 2026
- Contact
- laroygroup.com
- Activities · NACE
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