According to sources, authorities have already begun auditing at least nine companies affiliated with Giannis Kourtakis.
The European Public Prosecutor’s Office is conducting a full investigation into the activities of publisher and journalist Giannis Kourtakis, following complaints about his potential involvement in the misappropriation of EU funds, including programs for migrant meals and recycling houses.
Authorities have reportedly started examining at least nine companies under Kourtakis’ control, as well as three others where he serves as liquidator, with one company drawing particular attention.
That company is GK Property Management, a firm described as “performing miracles,” originally based in an apartment building in Agioi Anargyroi and now on Syngrou Avenue.
Business activities
GK was founded in July 2020 with the business activities of property management for a fee or under contract, buying and selling owned properties, leasing, and managing owned or rented properties.
Subsequently, through two amendments to its articles of association, the company expanded into:
- Electricity production from photovoltaic systems
- Electricity distribution services
- Construction work for power generation units
- Electricity generation from wind energy conversion
- Business management consulting services
- Strategic management consulting services
- Financial management consulting services (excluding corporate tax matters)
- Other business consulting services
The miracle of profitability and profit margins
What is striking is the company’s growth trajectory:
2020: Zero revenue.
2021: Revenue of €950,000, with net profit of €460,000, corresponding to a net profit margin of ~50%.
2022: Revenue rises to €2.43 million, net profit €1.2 million, maintaining a 50% profit margin.
2023: Revenue drops to €1.22 million, net profit €363,000, with a reduced margin.
2024: Revenue soars to €5.47 million, with net profit after taxes of €3.276 million, representing an extraordinary net profit margin of 60%.
In just four years, the company achieved post-tax net profits of €5.3 million; a truly remarkable figure.
Discrepancies and unusual details
Examining the 2024 board report, the company states that it invested approximately €1 million in properties that year.
Discrepancies and unusual details Examining the 2024 board report, the company states that it invested approximately €1 million in properties that year.
Current assets are €1.3 million, while equity stands at €1.36 million.
Strangely, although equity is €1.36 million, shareholder deposits are €134,000, up from €88,000 in 2023, without being recorded as capital, suggesting informal lending, which does not align with standard accounting logic.
The company has no formal debt.
www.bankingnews.gr
Authorities have reportedly started examining at least nine companies under Kourtakis’ control, as well as three others where he serves as liquidator, with one company drawing particular attention.
That company is GK Property Management, a firm described as “performing miracles,” originally based in an apartment building in Agioi Anargyroi and now on Syngrou Avenue.
Business activities
GK was founded in July 2020 with the business activities of property management for a fee or under contract, buying and selling owned properties, leasing, and managing owned or rented properties.
Subsequently, through two amendments to its articles of association, the company expanded into:
- Electricity production from photovoltaic systems
- Electricity distribution services
- Construction work for power generation units
- Electricity generation from wind energy conversion
- Business management consulting services
- Strategic management consulting services
- Financial management consulting services (excluding corporate tax matters)
- Other business consulting services
The miracle of profitability and profit margins
What is striking is the company’s growth trajectory:
2020: Zero revenue.
2021: Revenue of €950,000, with net profit of €460,000, corresponding to a net profit margin of ~50%.
2022: Revenue rises to €2.43 million, net profit €1.2 million, maintaining a 50% profit margin.
2023: Revenue drops to €1.22 million, net profit €363,000, with a reduced margin.
2024: Revenue soars to €5.47 million, with net profit after taxes of €3.276 million, representing an extraordinary net profit margin of 60%.
In just four years, the company achieved post-tax net profits of €5.3 million; a truly remarkable figure.
Discrepancies and unusual details
Examining the 2024 board report, the company states that it invested approximately €1 million in properties that year.
Discrepancies and unusual details Examining the 2024 board report, the company states that it invested approximately €1 million in properties that year.
Current assets are €1.3 million, while equity stands at €1.36 million.
Strangely, although equity is €1.36 million, shareholder deposits are €134,000, up from €88,000 in 2023, without being recorded as capital, suggesting informal lending, which does not align with standard accounting logic.
The company has no formal debt.
www.bankingnews.gr
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