Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 6 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2025.
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Busy address KBO
79 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
GHELAMCO INVEST from Ieper, company number BE0431572596, closed financial year 2025 with a result of € -12.4 million after tax. For that financial year GHELAMCO INVEST recorded revenue of € 38.6 million and equity of € 91.2 million. Compared with financial year 2024, the result moved from € -156.1 million to € -12.4 million. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 18, 2026.
€ 91.2 million
▼ 12% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -12.4 million
▲ 92 % less loss than in 2024
Profit after tax over the fiscal year.
€ 2.7 million
▼ 76% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -55.3 million.
People and assets in 2025
€ 22,564
▼ 2% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 121.9 million
▼ 53% vs 2024
€ 72.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 10.3 million
▲ 30% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 95 days on average.
€ 502,000
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 33,655,675 | € 15,961,433 | € 17,028,265 | € 38,572,562 | ▲ 127% |
| Profit after taxes | € -33,231,140 | € -17,357,557 | € -156,052,464 | € -12,416,906 | ▲ € 143.6 million |
| Equity | € 277,027,230 | € 259,669,673 | € 103,617,208 | € 91,200,303 | ▼ 12% |
| Total debts | € 445,432,731 | € 419,366,253 | € 395,186,529 | € 281,658,040 | ▼ 29% |
| Cash | € 106,425 | € 423,843 | € 11,281,988 | € 2,741,141 | ▼ 76% |
| Land & buildings | € 3,029,925 | € 1,917,895 | € 1,768,766 | € 1,686,984 | ▼ 5% |
| Retained profit | € 130,537,130 | € 113,179,573 | € -42,872,892 | € -55,289,797 | ▼ € 12.4 million |
| Bank debt | € 379,750,666 | € 303,878,660 | € 257,165,086 | € 121,908,439 | ▼ 53% |
| Balance sheet total | € 722,496,237 | € 679,035,926 | € 498,803,737 | € 372,967,618 | ▼ 25% |
Key figures of GHELAMCO INVEST, 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 GHELAMCO INVEST?
What happened at GHELAMCO INVEST in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Ghlobal BV stepped down as director. NBB
- Opus Terrae BV stepped down as director. NBB
- JINVEST BV BV stepped down as director. NBB
- Pure F BV stepped down as director. NBB
- Ghemic BV stepped down as director. NBB
- Sidlabz BV stepped down as director. NBB
- White Art Centre BV stepped down as director. NBB
- Corrected annual accounts filed for financial year 2025. filed late Source: NBB ↗
In short
From € 33.2 million loss in 2022 to € 12.4 million loss in 2025.
Paid € 2.8 million in corporate taxes since 2022.
Pays suppliers within 95 days on average.
A new publication or filing at GHELAMCO INVEST? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of GHELAMCO GROUP comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
GHELAMCO INVESTThe shares are held by GHELAMCO GROUP (86.2%). It owns 100% of Collaris BV, 100% of The White House Zoute, 100% of M. Van Steenwinkel, 100% of Green Energy Investments, 100% of D&Q and 100% of LPI Development itself.
Directors
According to the 2025 annual accounts
Director · represented by Karel De boeck
Also active at: LAMIFIL, WILLEMEN GROEP
since 2023 · until 2026
Director · represented by Marie-Julie Gheysens
Also active at: ROYAL ANTWERP FOOTBALL CLUB
since 2024 · until 2031
Managing director · represented by Paul Gheysens
Also active at: DOCK-SITE, R.H.R. - INDUSTRIES, THE WHITE HOUSE ZOUTE, SAFE HOLDING BELGIUM, Zeewind, MeetDistrict, PGP, De Nieuwe Filature +15 more
since 2024 · until 2031
Director · represented by Jürgen Ingels
Also active at: Certimed, MENSURA Service Externe de Prévention et de Protection au travail, VYNCKE, WILLEMEN GROEP, ITINERIS, FORTINVEST, BRIKZ, Firefly Ventures +5 more
since 2024 · until 2031
Director · represented by Michaël Gheysens
Also active at: SOGIMES, THE WHITE HOUSE ZOUTE, STEELCON, IMMOBILIERE COGIMES, MeetDistrict, VERBENA, CMI, LIGORA +4 more
since 2021 · until 2027
Director · represented by Philip Neyt
since 2024 · until 2031
since 2022 · until 2027
Shareholders
86.2%
Participations
100%
100%
100%
100%
Pine Projects
100%
100%
100%
100%
99 York Road Residences Ltd
100%
99 York Road Commercial Ltd
100%
100%
100%
100%
100%
100%
100%
99.9%
99.8%
99.8%
99.6%
99.6%
99.6%
99.6%
99.6%
99.6%
99.6%
99.6%
99.6%
99.6%
99.6%
99.6%
99.2%
99%
98.8%
85%
85%
50%
50%
50%
10.9%
Establishments
Establishment units
Physical locations of this company
Zwaanhofweg 10
8900 Ieper
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 79 companies are registered at this address.
All companies at this address →R.H.R. - INDUSTRIES same network
€ 272,092 gross margin · 2024
GARAGE S.O.S. same network
€ -10,621 gross margin · 2024
GHELAMCO
€ 549,961 revenue · 2024
SOGIMES same network
€ 4.7 million gross margin · 2025
IMMOBILIERE NORTH SEA PROPERTIES
€ -465,348 gross margin · 2024
+74 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0431.572.596
- VAT number
- BE 0431.572.596
- Registered office
- Zwaanhofweg 10, 8900 Ieper
- Names & denominations
- GHELAMCO INVEST
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 June 1987
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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