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 5 % of short-term debt in 2025; threshold 65 %.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
GF from Mouscron, company number BE0452441454, closed financial year 2025 with a result of € 579,064 after tax. For that financial year GF recorded a gross margin of € 869,351 and equity of € -227,300. Compared with financial year 2024, the result moved from € -171,522 to € 579,064. Profitable, and profit is growing. 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 31, 2026.
€ -227,300
▲ € 579,064 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 579,064
▲ still € 171,522 loss in 2024
Profit after tax over the fiscal year.
€ 263,709
▼ 68% 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 € -289,300.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 35,825
▲ 86% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 41,378 | € -268,224 | € -7,946 | € 869,351 | ▲ € 877,297 |
| Profit after taxes | € -91,494 | € -482,761 | € -171,522 | € 579,064 | ▲ € 750,586 |
| Equity | € -152,081 | € -634,842 | € -806,364 | € -227,300 | ▲ € 579,064 |
| Total debts | € 2,334,178 | € 9,030,937 | € 10,009,727 | € 8,970,354 | ▼ 10% |
| Cash | € 20,361 | € 10,096 | € 823,562 | € 263,709 | ▼ 68% |
| Land & buildings | € 2,053,412 | € 1,976,769 | € 1,900,127 | € 1,125,438 | ▼ 41% |
| Retained profit | € -214,081 | € -696,842 | € -868,364 | € -289,300 | ▲ € 579,064 |
| Bank debt | € 1,000,000 | € 6,250,000 | € 0 | € 0 | |
| Balance sheet total | € 2,182,097 | € 8,396,095 | € 9,203,363 | € 8,976,108 | ▼ 2% |
Key figures of GF, 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 GF?
What happened at GF in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- François Garwig stepped down as director. NBB
- Marie-Paule Duchez stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 579,064. filed late Source: NBB ↗
- François Garwig became a director. NBB
- Marie-Paule Duchez became a director. NBB
- New establishment in Mouscron. KBO
- Start of the company according to the CBE. KBO
In short
From € 91,494 loss in 2022 to € 579,064 profit in 2025.
Best year ever: 2025, with € 579,064 profit.
Management
Directors
According to the 2025 annual accounts
since 2021 · until 2027
Marie-Paule Duchez
Managing director
since 2021 · until 2027
Establishments
Establishment units
Physical locations of this company
Verroestkruisstraat(D) 23
7711 Mouscron
Roncevalstraat(D) 5
7711 Mouscron
Active since 4 May 1994
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
- 0452.441.454
- VAT number
- BE 0452.441.454
- Registered office
- Verroestkruisstraat(D) 23, 7711 Mouscron
- Names & denominations
- GF
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 10 March 1994
- Peppol
- Not registered