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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 53 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
GL Hospitality from Hasselt, company number BE0411575651, closed financial year 2025 with a result of € -254,537 after tax. For that financial year GL Hospitality recorded revenue of € 898,400 and equity of € -801,434. Compared with financial year 2024, the result moved from € 30,340 to € -254,537. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 6, 2026.
€ -801,434
▼ € 254,537 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -254,537
▼ still € 30,340 profit in 2024
Profit after tax over the fiscal year.
€ 6,917
▼ 75% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -863,434.
People and assets in 2025
6.7
▲ 1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 539,117
▲ 6% vs 2024
€ 80,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 45,964
▼ 32% vs 2024
Of which on lease € 44,743.
Debts at end 2025
€ 5 million
▲ 3% vs 2024
€ 13,202 is repaid this year. At this pace the long-term loan is gone in ≈ 382 years.
€ 171,883
▲ 20% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 373 days on average.
€ 138,754
▲ 1% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 376,715 | € 408,190 | € 733,375 | € 898,400 | ▲ 23% |
| Gross margin | € 118,242 | € 222,768 | - | - | |
| Profit after taxes | € -80,517 | € -104,510 | € 30,340 | € -254,537 | ▼ € 284,877 |
| Equity | € -472,727 | € -577,237 | € -546,897 | € -801,434 | ▼ € 254,537 |
| Total debts | € 838,588 | € 783,329 | € 25,741,128 | € 26,674,707 | ▲ 4% |
| Cash | € 6,947 | € 4,974 | € 27,563 | € 6,917 | ▼ 75% |
| Retained profit | € -534,727 | € -639,237 | € -608,897 | € -863,434 | ▼ € 254,537 |
| Bank debt | € 2,854 | € 0 | € 4,907,654 | € 5,037,789 | ▲ 3% |
| Balance sheet total | € 365,861 | € 206,092 | € 25,194,231 | € 25,873,273 | ▲ 3% |
| Employees (FTE) | 2.1 | 3.8 | 5.7 | 6.7 | ▲ 1 |
Key figures of GL Hospitality, 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 GL Hospitality?
What happened at GL Hospitality in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- John LENAERS stepped down as director. NBB
- Ghislain LENAERS stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 254,537 (▼ € 284,877 vs 2024). filed late Source: NBB ↗
- John LENAERS became a director. NBB
- Ghislain LENAERS became a director. NBB
- New establishment in Hasselt. KBO
- Start of the company according to the CBE. KBO
In short
From € 80,517 loss in 2022 to € 254,537 loss in 2025.
Paid € 2,240 in corporate taxes since 2022.
Best year ever: 2024, with € 30,340 profit.
On average € 58,600 of value added per employee in 2023.
Management
The stake of Group GL comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
GL HospitalityThe shares are held by STAK ANDRATX (100%) and Group GL (100%). It owns PI-Hasselt, Brugge Hotel NV, Airhotel Liège SA, Limburg Hotel NV, Liège Hotel SA and Wavre Hotel SA itself.
Directors
According to the 2025 annual accounts
John LENAERS
Bestuurder
Owns 0.4% via Group GL
Also active at: ZUIDERRING INVEST, WEZEL, IMMO CURTIS, Algemene Ondernemingen G. LENAERS, GROUP GL International, GIROMA, BSL CONSTRUCT, MOBILEX +34 more
since 2021 · until 2027
Ghislain LENAERS
Bestuurder
Also active at: WINKELCENTRUM ZUIDERRING, ZUIDERRING INVEST, WEZEL, IMMO CURTIS, Algemene Ondernemingen G. LENAERS, GROUP GL International, GIROMA, BSL CONSTRUCT +34 more
since 2021 · until 2027
Shareholders
STAK ANDRATX
100%
Group GL · holding of John LENAERS
100%
Establishments
Establishment units
Physical locations of this company
Torenplein 8
3500 Hasselt
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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.
Details
- Company number
- 0411.575.651
- VAT number
- BE 0411.575.651
- Registered office
- Torenplein 8, 3500 Hasselt
- Names & denominations
- GL Hospitality
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 12 October 1971
- Peppol
- Active · Active since 2 Dec 2025
- Activities · NACE
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Holdings