GRACIEN
ActiveSummary
GRACIEN has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €325,345 and a net result of -€2,517. Equity is growing by ~4.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability61▼-20
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24,000 at 30 days acceptable
Liquidity ample (current ratio 3.07 against 3.07 in 2023; short-term debt: 11.1% and cash: 3.9% of total assets), and 11.5% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
88.5%
Return on assets
-0.7%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
22 d early
2023
22 d early
2022
42 d early
2021
4 d early
2020
32 d early
2019
11 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 23 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 9 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2024, micro schema
Equity
€325,345▼ 0.8%
2023 · €327,862
Total assets
€367,529▲ 0.2%
2023 · €366,813
Net result
-€2,517
2023 · €36,676
Working capital
€83,973▲ 8.1%
2023 · €77,700
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€10,549▼ 76.0%€30,268▲ 187%-€10,200€48,004-€1,027
Net result€6,564within the sector's middle half▼ 78.0%€21,651within the sector's middle half▲ 230%-€12,084below the sector's middle half€36,676above the sector's middle half-€2,517within the sector's middle half
Equity€281,620above the sector's middle half▲ 2.4%€303,270above the sector's middle half▲ 7.7%€291,186above the sector's middle half▼ 4.0%€327,862above the sector's middle half▲ 12.6%€325,345above the sector's middle half▼ 0.8%
Total assets€311,452within the sector's middle half▼ 5.4%€319,621above the sector's middle half▲ 2.6%€327,186above the sector's middle half▲ 2.4%€366,813above the sector's middle half▲ 12.1%€367,529above the sector's middle half▲ 0.2%
Debt€29,833▼ 45.0%€16,351▼ 45.2%€36,000▲ 120%€38,951▲ 8.2%€42,183▲ 8.3%
Working capital€40,441within the sector's middle half▲ 53.2%€61,320within the sector's middle half▲ 51.6%€50,656within the sector's middle half▼ 17.4%€77,700within the sector's middle half▲ 53.4%€83,973within the sector's middle half▲ 8.1%
Solvency90.4%above the sector's middle half▲ 6.9pp94.9%above the sector's middle half▲ 4.5pp89.0%above the sector's middle half▼ 5.9pp89.4%above the sector's middle half▲ 0.4pp88.5%above the sector's middle half▼ 0.9pp
Current ratio2.36within the sector's middle half▲ 0.824.75above the sector's middle half▲ 2.392.46within the sector's middle half▼ 2.293.07above the sector's middle half▲ 0.613.07above the sector's middle half▼ 0.01
Return on assets (ROA)2.1%within the sector's middle half▼ 6.9pp6.8%within the sector's middle half▲ 4.7pp-3.7%below the sector's middle half▼ 10.5pp10.0%within the sector's middle half▲ 13.7pp-0.7%within the sector's middle half▼ 10.7pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €1,027 after €48,004 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €367,529
Fixed assets
€242,922 ▼ 3.5%
Current assets
€124,607 ▲ 8.2%
Equity and liabilities €367,529
Equity
€325,345 ▼ 0.8%
Debt
€42,183 ▲ 8.3%
Debt's share of the balance-sheet total rises from 10.6% to 11.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€8,770▼
2023 · €58,251
Cash flow
€7,280▼
2023 · €46,924
Quick ratio
2.15▲
2023 · 2.01
Debt to equity
0.13▲
2023 · 0.12
ROE
-0.8%▼
2023 · 11.2%
Interest coverage
5.18▼
2023 · 68.20
Debt ≤ 1 year
€40,633▲
2023 · €37,501
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 12,321 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,945 | €9,548 | €9,657 | €10,248 | €9,797 | ▼ 4.4% |
| Other operating charges640/8 | - | €4,209 | €4,842 | €7,170 | €7,469 | ▲ 4.2% |
| Gross operating margin9900 | €29,142 | €44,025 | €4,299 | €65,422 | €16,238 | ▼ 75.2% |
| Operating profit (loss)9901 | €10,549 | €30,268 | -€10,200 | €48,004 | -€1,027 | ▼ 102% |
| Financial income75/76B | - | €1,025 | €130 | €112 | €204 | ▲ 82.9% |
| Recurring financial income75 | €183 | €1,025 | €130 | €112 | €204 | ▲ 82.9% |
| Financial charges65/66B | - | €1,378 | €2,014 | €854 | €1,694 | ▲ 98.3% |
| Recurring financial charges65 | €1,540 | €1,378 | €2,014 | €854 | €1,694 | ▲ 98.3% |
| Profit (loss) for the period before taxes9903 | €9,191 | €29,915 | -€12,084 | €47,261 | -€2,517 | ▼ 105% |
| Income taxes67/77 | €2,627 | €8,264 | - | €10,585 | - | - |
| Profit (loss) for the period9904 | €6,564 | €21,651 | -€12,084 | €36,676 | -€2,517 | ▼ 107% |
| Profit (loss) for the period to be appropriated9905 | €6,564 | €21,651 | -€12,084 | €36,676 | -€2,517 | ▼ 107% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €311,452 | €319,621 | €327,186 | €366,813 | €367,529 | ▲ 0.2% |
| Fixed assets21/28 | €241,179 | €241,950 | €241,780 | €251,612 | €242,922 | ▼ 3.5% |
| Tangible fixed assets22/27 | €240,582 | €241,353 | €241,183 | €251,015 | €242,325 | ▼ 3.5% |
| Land and buildings22 | - | €228,357 | €233,088 | €241,455 | €234,354 | ▼ 2.9% |
| Plant, machinery and equipment23 | - | €7,783 | €5,302 | €9,188 | €7,030 | ▼ 23.5% |
| Furniture and vehicles24 | - | €4,693 | €2,347 | - | €643 | - |
| Other tangible fixed assets26 | - | €520 | €446 | €372 | €297 | ▼ 20.0% |
| Financial fixed assets28 | €597 | €597 | €597 | €597 | €597 | = |
| Current assets29/58 | €70,273 | €77,671 | €85,406 | €115,201 | €124,607 | ▲ 8.2% |
| Stocks and contracts in progress3 | €15,536 | €10,235 | €12,680 | €39,646 | €37,053 | ▼ 6.5% |
| Stocks30/36 | - | €10,235 | €12,680 | €39,646 | €37,053 | ▼ 6.5% |
| Amounts receivable within one year40/41 | €35,590 | €26,403 | €57,253 | €46,638 | €69,091 | ▲ 48.1% |
| Trade receivables40 | - | €19,297 | €25,516 | €33,555 | €36,009 | ▲ 7.3% |
| Other amounts receivable41 | - | €7,105 | €31,737 | €13,083 | €33,083 | ▲ 153% |
| Cash at bank and in hand54/58 | €17,394 | €41,033 | €13,083 | €25,183 | €14,465 | ▼ 42.6% |
| Deferred charges and accrued income490/1 | - | - | €2,389 | €3,734 | €3,997 | ▲ 7.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €311,452 | €319,621 | €327,186 | €366,813 | €367,529 | ▲ 0.2% |
| Equity10/15 | €281,620 | €303,270 | €291,186 | €327,862 | €325,345 | ▼ 0.8% |
| Contributions10/11 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Outside capital11 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Other1109/19 | - | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Reserves13 | €253,845 | €275,495 | €266,186 | €302,862 | €300,345 | ▼ 0.8% |
| Non-distributable reserves130/1 | - | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves not available under the articles1311 | - | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Tax-exempt reserves132 | - | €276 | €276 | €276 | €276 | = |
| Distributable reserves133 | - | €272,719 | €263,410 | €300,086 | €297,569 | ▼ 0.8% |
| Profit (loss) carried forward14 | €2,775 | €2,775 | - | - | - | - |
| Amounts payable17/49 | €29,833 | €16,351 | €36,000 | €38,951 | €42,183 | ▲ 8.3% |
| Amounts payable within one year42/48 | €29,833 | €16,351 | €34,750 | €37,501 | €40,633 | ▲ 8.4% |
| Current portion of amounts payable after more than one year42 | - | €8,313 | €8,364 | - | - | - |
| Financial debts43 | - | - | - | €8,026 | €7,964 | ▼ 0.8% |
| Credit institutions430/8 | - | - | - | €8,026 | €7,964 | ▼ 0.8% |
| Trade debts44 | €12,610 | €4,213 | €21,092 | €19,116 | €21,643 | ▲ 13.2% |
| Suppliers440/4 | - | €4,213 | €21,092 | €19,116 | €21,643 | ▲ 13.2% |
| Taxes, remuneration and social security45 | - | €707 | €4,264 | €9,395 | €7,225 | ▼ 23.1% |
| Taxes450/3 | - | €707 | €4,264 | €9,395 | €7,225 | ▼ 23.1% |
| Other amounts payable47/48 | - | €3,118 | €1,030 | €964 | €3,801 | ▲ 294% |
| Accrued charges and deferred income492/3 | - | - | €1,250 | €1,450 | €1,550 | ▲ 6.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,564 | €21,651 | -€12,084 | €36,676 | -€2,517 | ▼ 107% |
| + Depreciation and write-downs630 | €13,945 | €9,548 | €9,657 | €10,248 | €9,797 | ▼ 4.4% |
| Operating cash flow (approximation) | €20,509 | €31,199 | -€2,427 | €46,924 | €7,280 | ▼ 84.5% |
| Investment in fixed assets (approximation) | - | -€10,320 | -€9,487 | -€20,080 | -€1,106 | ▲ 94.5% |
| Change in cash | - | €23,639 | -€27,950 | €12,100 | -€10,718 | ▼ 189% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €36,676
Net result €36,676 after one loss-making year.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€12,084
Net result drops to -€12,084, the lowest in the series; recovery starts the following year.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 4.75
Current ratio from 2.36 to 4.75; short-term debt falls from €29,833 to €16,351.
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
20-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Merelbeke-Melle · 1 establishment unit since 1984
Ground area
2,260 m²
Building footprint
1,266 m²
Volume, LiDAR
5,518 m³
Parcel 44412B0187/00E008, Flanders · tallest building 7.4 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Gaversesteenweg 174, 9820 Merelbeke-Melle
since 19842.023.560.649
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44412B0187/00E008 | Flanders | 2,260 m² | 1 · 1,266 m² | 7.4 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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MERCKX ENGHIEN
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Perform
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Of 10,662 companies in sector 47811 we hold annual accounts for 5,227. 3,627 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded20-12-1983
Fiscal year end31-12
Activities, NACEBEL 2025
47811Retail sale of cars and light vans (up to 3.5 tonnes)
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0425045981
Also
9925:BE0425045981
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.