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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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 0 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
GAM from Waimes, company number BE0472111569, closed financial year 2025 with a result of € -46,334 after tax. For that financial year GAM recorded a gross margin of € -9,494 and equity of € 132,526. Compared with financial year 2024, the result moved from € -27,067 to € -46,334. 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 September 18, 2026.
€ 132,526
▼ 26% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -46,334
▼ 71 % more loss than in 2024
Profit after tax over the fiscal year.
€ 1,873
▲ € 1,843 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -15,474.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 12,348
▼ 2% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 4,339
▼ 40% 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 | |
|---|---|---|---|---|---|
| Gross margin | € 153,912 | € 4,742 | € 15,999 | € -9,494 | ▼ € 25,493 |
| Profit after taxes | € 120,995 | € -57,295 | € -27,067 | € -46,334 | ▼ € 19,267 |
| Equity | € 263,222 | € 205,927 | € 178,860 | € 132,526 | ▼ 26% |
| Total debts | € 388,393 | € 406,515 | € 412,083 | € 444,582 | ▲ 8% |
| Cash | € 1,378 | € 6 | € 29 | € 1,873 | ▲ € 1,843 |
| Land & buildings | € 736,868 | € 698,539 | € 674,382 | € 654,727 | ▼ 3% |
| Retained profit | € 115,222 | € 57,927 | € 30,860 | € -15,474 | ▼ € 46,334 |
| Balance sheet total | € 766,185 | € 720,078 | € 691,998 | € 670,239 | ▼ 3% |
Key figures of GAM, 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 GAM?
What happened at GAM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 46,334. filed late Source: NBB ↗
- Gery, François LE GRELLE stepped down as director. NBB
- Simon PIRONT stepped down as director. NBB
- Gery, François LE GRELLE became a director. NBB
- Simon PIRONT became a director. NBB
- New establishment in Waimes. KBO
- Start of the company according to the CBE. KBO
In short
From € 120,995 profit in 2022 to € 46,334 loss in 2025.
Paid € 4,339 in corporate taxes since 2022.
Best year ever: 2022, with € 120,995 profit.
Management
Directors
According to the 2025 annual accounts
Gery, François LE GRELLE
Director
since 2020 · until 2025
since 2019 · until 2025
Establishments
Establishment units
Physical locations of this company
Rue de la Gare 44 box d
4950 Waimes
Rue de la Gare 44 box D
4950 Waimes
Active since 11 August 2000
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0472.111.569
- VAT number
- BE 0472.111.569
- Registered office
- Rue de la Gare 44 bus d, 4950 Waimes
- Names & denominations
- GAM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 14 June 2000
- Peppol
- Active · Active since 27 Jan 2026