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 37 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
43 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
GILBO from Sint-Martens-Latem, company number BE0438857593, closed financial year 2025 with a result of € 1.2 million after tax. For that financial year GILBO recorded revenue of € 3.4 million and equity of € 22.1 million. Compared with financial year 2024, the result moved from € 1.5 million to € 1.2 million. The company is profitable. 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 September 8, 2026.
€ 22.1 million
▲ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.2 million
▼ 25% vs 2024
Profit after tax over the fiscal year.
€ 408,973
▼ 24% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 500,000 paid out
43 % of the profit went to the shareholders, mostly to STRACO RE (60 % of the shares). That is where the money ends up.
People and assets in 2025
€ 1,272
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 8 million
▼ 16% vs 2024
€ 1.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 825,622
▲ 154% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 303 days on average.
€ 173,906
▼ 15% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 3,973,586 | € 3,926,074 | € 3,899,626 | € 3,376,500 | ▼ 13% |
| Profit after taxes | € 1,625,160 | € -762,863 | € 1,539,537 | € 1,154,886 | ▼ 25% |
| Equity | € 28,621,420 | € 20,358,557 | € 21,398,094 | € 22,052,980 | ▲ 3% |
| Total debts | € 14,053,310 | € 12,547,172 | € 11,344,309 | € 10,326,867 | ▼ 9% |
| Cash | € 7,071,670 | € 1,764,019 | € 541,333 | € 408,973 | ▼ 24% |
| Retained profit | € 28,409,604 | € 20,146,741 | € 21,186,279 | € 21,841,165 | ▲ 3% |
| Dividend | € 500,000 | € 7,500,000 | € 500,000 | € 500,000 | |
| Bank debt | € 12,424,297 | € 10,953,346 | € 9,482,395 | € 8,011,444 | ▼ 16% |
| Balance sheet total | € 43,618,998 | € 33,816,965 | € 33,620,606 | € 33,225,012 | ▼ 1% |
Key figures of GILBO, 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 GILBO?
What happened at GILBO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- ELIAS WHEMAB BV stepped down as director. NBB
- DONA BV stepped down as director. NBB
- ViBel BV stepped down as director. NBB
- TICACONSULT BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.2 million (▼ 25% vs 2024). filed late Source: NBB ↗
- ELIAS WHEMAB BV became a director. NBB
- DONA BV became a director. NBB
- ViBel BV became a director. NBB
In short
From € 1.6 million profit in 2022 to € 1.2 million profit in 2025.
Paid € 2.1 million in corporate taxes since 2022.
Best year ever: 2022, with € 1.6 million profit.
Paid out € 9 million in dividends to the owners in total.
Management
The stake of STRACO RE, ELIAS WHEMAB comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
GILBOThe shares are held by STRACO RE (60%) and ELIAS WHEMAB (20%). It owns Magellan IP and Grico itself.
Directors
According to the 2025 annual accounts
Director · represented by Bart Elias
Also active at: NEDCO, Van Durme - Van Boxstael, DUBO, NEWTOWN TRAGEL, STRACO RE
since 2023 · until 2029
Director · represented by William Nagels
since 2023 · until 2029
Director · represented by Carl-Philip de Villegas de Clercamp
Also active at: NEDCO, TER DOENAERT, Immo V.V.L. Leuven, IMMOCOR, LES FOUGERES, IMMOGRADA, VM Weggevoerdenlaan ComCo, VAN MARCKE PROPERTIES +44 more
since 2022 · until 2028
Director · represented by Erik Van Den Eynden
Also active at: NEDCO, Immo V.V.L. Leuven, IMMOCOR, LES FOUGERES, IMMOGRADA, HANSIMMO, ODEBRECHT, IMMO WATERLOO 66 +16 more
since 2022 · until 2028
Shareholders
60%
20%
Participations
Magellan IP
Grico
Establishments
Establishment units
Physical locations of this company
Kortrijksesteenweg 157
9830 Sint-Martens-Latem
Brusselsesteenweg 197
9090 Merelbeke-Melle
Active since 17 January 1990
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 43 companies are registered at this address.
All companies at this address →NEDCO same network
€ 771,291 revenue · 2025
PATIGNY
€ 1.2 million revenue · 2025
Immo V.V.L. Leuven same network
€ 4 million revenue · 2025
HET SWYN ofte OUDE HAVEN
€ 13,595 gross margin · 2025
IMMOCOR same network
€ -8,147 gross margin · 2025
+38 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
- 0438.857.593
- VAT number
- BE 0438.857.593
- Registered office
- Kortrijksesteenweg 157, 9830 Sint-Martens-Latem
- Names & denominations
- GILBO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 30 October 1989
- Peppol
- Active · Active since 15 Jul 2025
- Activities · NACE
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