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GGR

Active
Public limited companyfounded 200817 years activeVilvoordselaan 312, 1130 Brussel, BelgiumKBO/BCE: BE 0808.233.395
Summary

The computed 12-month bankruptcy probability of GGR is 4.5% (elevated). The 2024 annual accounts show equity of €3.3m and a net result of -€598,122. Equity is growing by ~75.8% per year across the filed fiscal years. Its solvency ranks better than 19% of 275 sector peers (NACE 38, fiscal year 2024). The company has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals.

Overview

Activity
Materials recovery from waste
NACE 38210
#8 company by total assets in the Brussels-Capital Region, Waste collection and treatment sector2 sites
Size
€31.7mturnover 2024
Staff
13.7 FTE
Equity
€3.3m
Loss
-€598,122
Financial health
37 Weak Checked score 2024
Bankruptcy probability, 12 months
4.5%
Structure
Parent
AFAR INVEST · 100%
Holdings
1
Auditor: SRL BMS & C°Accounts 68 days overdue1 of 8 deeds read
Why 37- Liquidity: current ratio 0.99, cash €33,552, halved- Figures for FY 2024 (filed 16-10-2025)- 1 financial year not filed after the legal deadline; latest accounts 70 days late; 2 of the last 3 late+ Founded in 2008Show the evidence

Checked score

Score 2024
37 / 100
Weak
Probability in this band: 4.2% to 15.0%
Financially better than 23% of its sector peers (NACE 38, small)
Financial strength · tick = 2023
Weak
Solvency 42=
equity 16.6% of total assets
Liquidity 21-15
short-term debt 57.1% · cash 0.2%
Profitability 32-10
return on assets -3.0%
Bankruptcy probability, 12 months
4.5% Elevated
0%0.5%1.5%4%10%≥ 25%

About 4 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (199 companies)
Last 24 months 11-2024: 1.9% 12-2024: 2.2%▲ +0.3 percentage points vs 11-2024 01-2025: 1.3%▼ -0.9 percentage points vs 12-2024 02-2025: 1.3%● unchanged vs 01-2025 03-2025: 1.3%● unchanged vs 02-2025 04-2025: 1.4%▲ +0.1 percentage points vs 03-2025 05-2025: 0.8%▼ -0.6 percentage points vs 04-2025lowest value 06-2025: 0.8%● unchanged vs 05-2025 07-2025: 0.9%▲ +0.1 percentage points vs 06-2025 08-2025: 1.3%▲ +0.4 percentage points vs 07-2025 09-2025: 1.6%▲ +0.3 percentage points vs 08-2025 10-2025: 2.1%▲ +0.5 percentage points vs 09-2025 11-2025: 2.2%▲ +0.1 percentage points vs 10-2025 12-2025: 2.2%● unchanged vs 11-2025 01-2026: 2.2%● unchanged vs 12-2025 02-2026: 2.2%● unchanged vs 01-2026 03-2026: 2.2%● unchanged vs 02-2026 04-2026: 2.1%▼ -0.1 percentage points vs 03-2026 05-2026: 2.1%● unchanged vs 04-2026 06-2026: 2.1%● unchanged vs 05-2026 07-2026: 2.3%▲ +0.2 percentage points vs 06-2026 08-2026: 3.1%▲ +0.8 percentage points vs 07-2026 09-2026: 3.5%▲ +0.4 percentage points vs 08-2026 10-2026: 4.5%▲ +1.0 percentage point vs 09-2026highest value
Credit up to €120,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.99 against 1.08 in 2023; short-term debt: 57.1% and cash: 0.2% of total assets), and 83.4% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 38, small): better than 21% on solvency, 10% on liquidity, 18% on profitability and 42% on growth.

The bankruptcy probability was computed on 07-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
−lowers risk+raises risk○neutral
raises risk · Liquidity: current ratio 0.99, cash €33,552, halved
NBB · annual accounts
raises risk · Figures for FY 2024 (filed 16-10-2025)
NBB · annual accounts
lowers risk · Founded in 2008
How long the company has existed counts in the probability; how much depends on the rest of its profile.
KBO
raises risk · 1 financial year not filed after the legal deadline; latest accounts 70 days late; 2 of the last 3 late
NBB · filings
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024
Net result per financial year
18192021222324
2018 to 2024 · latest year -€598,122
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 275 sector peers (2024).
NBB · sector comparison
Position among 275 sector peers
Solvency
better than 19%
← weakest strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-10-2025, 70 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
70 days late
2023
133 days late
2022
22 days late
2021
4 days late
2020
57 days early
2019
38 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 22 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
Checked from 2021 on.
KBO publications · our coverage
  1. Appointment: BMS & C° SRL (statutory…State Gazette act
  2. Annual accounts filedfiscal year 2024 · full…
  3. Weakest financial yearnet -€598,122

Key points

  • Caution: Among the weakest 10% on net resultsector median €123,002 · 274 companies -€598,122 View
  • Caution: Result fell in 2024from -€383,278 to -€598,122 ▼ 56.1% View
  • Caution: Accounts not fileddeadline was 31-07-2026 68 days late View
  • Controlled by AFAR INVESTitself parent of 1 companies 100% View
  • Caution: 2 loss-making years in a rowloss fiscal year 2024 -€598,122 View

By topic

Financials

Fiscal year
2024
Turnover
€31.7m
Loss
-€598,122
Solvency
16.6%
Turnover▲ 6.4%
Net result
20232024
Go to Financials

Timeline

Events
16
Since
2016
  1. 11-12-2024Annual accounts filed
  2. 22-08-2023Annual accounts filed
  3. 31-12-2022Highest result since 2018
Go to Timeline

Company details

Sites
2
Legal form
Public limited company
Activity
Materials recovery from wasteNACE 38210
Founded
05-12-2008
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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