Manufactured by A. Gouy - Place de la Gare, 31 à Namur, Belgium.
M. Gouy produced bicycles under the Belgica brand and was an agent for Victoria and DKW motorcycles until the 1970s.
Prior to WWII he produced, or marketed rebadged, small machines under the name "The Villiers". These motorcycles were assembled using 98cc Villiers and Sachs engines. It has been suggested that he also used the brand name Gouy.
Source: Pascal Gratien