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 58 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 149.8 to 116.8.
Financials
Financial year 2025
GKW from Ternat, company number BE0876638686, closed financial year 2025 with a result of € 584,283 after tax. For that financial year GKW recorded revenue of € 38.2 million and equity of € 7.9 million. Compared with financial year 2024, the result moved from € 169,448 to € 584,283. Profitable, and profit is growing. 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 October 5, 2026.
€ 7.9 million
▲ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 584,283
▲ 245% vs 2024
Profit after tax over the fiscal year.
€ 305,360
▼ 73% 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 € 7.9 million.
People and assets in 2025
116.8
▼ 17.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 7.4 million
▲ 2% vs 2024
€ 63,000 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.
€ 2.1 million
▼ 39% vs 2024
Of which on lease € 1.8 million.
Debts at end 2025
€ 8.6 million
▼ 18% vs 2024
€ 1.7 million is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 4.8 million
▼ 16% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 74 days on average.
€ 215,015
▲ 124% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 36,249,664 | € 32,293,211 | € 35,325,058 | € 38,168,707 | ▲ 8% |
| Profit after taxes | € 710,665 | € 132 | € 169,448 | € 584,283 | ▲ 245% |
| Equity | € 7,162,119 | € 7,162,251 | € 7,331,700 | € 7,915,982 | ▲ 8% |
| Total debts | € 12,640,095 | € 17,677,307 | € 16,254,485 | € 13,622,214 | ▼ 16% |
| Cash | € 1,306,392 | € 1,387,526 | € 1,114,509 | € 305,360 | ▼ 73% |
| Land & buildings | € 73,728 | € 67,363 | € 61,794 | € 62,234 | ▲ 1% |
| Retained profit | € 7,112,119 | € 7,112,251 | € 7,281,700 | € 7,865,982 | ▲ 8% |
| Dividend | € 358,435 | € 0 | € 0 | € 0 | |
| Bank debt | € 7,557,280 | € 12,182,196 | € 10,521,297 | € 8,645,728 | ▼ 18% |
| Balance sheet total | € 19,802,214 | € 24,839,558 | € 23,586,184 | € 24,138,196 | ▲ 2% |
| Employees (FTE) | 163.9 | 149.8 | 134.2 | 116.8 | ▼ 17.4 |
Key figures of GKW, 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 GKW?
What happened at GKW in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 584,283 (▲ 245% vs 2024). filed late Source: NBB ↗
- New establishment in Gent. KBO
- New establishment in Ternat. KBO
- Gocen & Benli BV became a director. NBB
- Ahmalize BV became a director. NBB
- AGA Management BV became a director. NBB
- New establishment in Ternat. KBO
- Start of the company according to the CBE. KBO
In short
From € 710,665 profit in 2022 to € 584,283 profit in 2025.
Paid € 812,861 in corporate taxes since 2022.
Best year ever: 2022, with € 710,665 profit.
Paid out € 358,435 in dividends to the owners in total.
Management
Behind GKW are Gocen & Benli BV, Ahmalize BV and AGA Management BV. The shares are held by Ahmed Gocen (34%), Huseyin Gocen (33%) and Nuri Göcen (33%).
Directors
According to the 2025 annual accounts
since 2017
Director · represented by Gocen Ahmed
Also active at: D.M. CABLES, INSTALLATIONS GENERALES ELECTRICITE, TELEDISTRIBUTION ET CHAUFFAGE, ZEAL PROJECTS, ZEAL INVEST, Zeal Construct, UVR
since 2017
Director · represented by Göcen Nuri
since 2017
Shareholders
Ahmed Gocen
34%
Huseyin Gocen
33%
Nuri Göcen
33%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Essenestraat 20
1740 Ternat
Industrielaan 27
1740 Ternat
Active since 1 August 2022
Boeierstraat 46
9000 Gent
Active since 1 January 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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
- 0876.638.686
- VAT number
- BE 0876.638.686
- Registered office
- Essenestraat 20, 1740 Ternat
- Names & denominations
- GKW
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 3 October 2005
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Bouw van civieltechnische werken voor elektriciteit en telecommunicatie
Aanleg van pijpleidingen, telecommunicatieleidingen en hoogspanningsleidingen
Overige gespecialiseerde werkzaamheden in de bouw
Overige gespecialiseerde bouwactiviteiten, neg
Overige gespecialiseerde bouwwerkzaamheden