Equity
€62,923 ▲ 47.2%
GRADES has made a profit without a break since 2022.
GRADES
Lifetime
20 annual accounts with figures on one time axis, 35 filings since 1991peak €107,825 (2023)
€57,411▼ 32.2%
lowest -€25,173 (2020)
€20,174▼ 21.6%
peak €80,327 (2012)
€62,923▲ 47.2%
€63,783▼ 25.6%
peak 1.6 FTE (2020)
-not published
Board2 names since 2001
2 directorsDesmet Rose Marie A and 1 other
Documentsfilings and deeds
09-08-20269 days late
2025micro format
Gross margin from €84,685 to €57,411Equity from €42,749 to €62,923Debts from €85,691 to €63,783Cash from €5,889 to €15,619
Key points
from the 2025 annual accountsTurnover
≈ €140,000 estimated
The micro format states no turnover.
Staff
1 employees on 31-12-2025
In 2025, 2 people joined and 2 left.
Liquidity
1.75 was 1.09 in 2024
Short-term debts fell from €49,529 to €35,710.
Filings
35 annual accounts since 1991
Nine of the last ten came late. The 2018 accounts came latest: 84 days after the end of the period.
Position in the sector
€20,174
Higher net result than 80% of companies in personal services. Sector median €2,798 · 5,761 companies.
Checked score
93
Excellent
Financially stronger than 71% of micro companies in personal services (NACE 96)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.7% across 7,626 companies (NACE 96, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025lowest value
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.3%▲ +0.1 percentage points vs 07-2025
09-2025: 0.4%▲ +0.1 percentage points vs 08-2025
10-2025: 0.4%● unchanged vs 09-2025
11-2025: 0.4%● unchanged vs 10-2025
12-2025: 0.4%● unchanged vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.4%● unchanged vs 03-2026
05-2026: 0.4%● unchanged vs 04-2026
06-2026: 0.5%▲ +0.1 percentage points vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.9%▲ +0.4 percentage points vs 07-2026highest value
09-2026: 0.2%▼ -0.7 percentage points vs 08-2026
10-2026: 0.2%● unchanged vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 9 days late; 2 of the last 3 accounts late
lowers risk
Founded in 1991
Liquidity: current ratio 1.75, cash €15,619
Figures for financial year 2025 (filed on 09-08-2026)
Calculation
The band follows from the bankruptcy probability. 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 96, micro). It does better than 68% of them on solvency, 57% on liquidity, 77% on profitability and 81% on growth.
The bankruptcy probability was computed on 10-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as GRADES has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GRADES itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for GRADES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €5,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.75 (1.09 in 2024), above the usual 1.5. Short-term debt is 28.2% and cash 12.3% of total assets. However, 50.3% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €62,923
raises risk · 2025 accounts filed 9 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-08-2026, 9 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
9 days late
2024
47 days late
2023
68 days late
2022
2 days late
2021
12 days late
2020
9 days late
2019
13 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 23 days after the deadline. In the sector (NACE 96), the median for financial year 2024 was on the deadline day, and 48% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 12 August (4 of the last 5 accounts filed within 35 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
DR
Desmet Rose Marie A
Director, since 29-03-2001
GS
Grauwels Stefaan
Director, since 29-03-2001
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0443146775
First establishment
KAPSALON ROSY, Mechelsesteenweg 15, Leuven
Incorporation
published on 13-03-1991 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GRADES Leuven | €126,706 | €57,411 | 49.7% | - |
| GOMINA ESTHETIQUE Aywaille | €135,765 | €66,520 | 13.5% | - |
| Style et Tendance Herve | €118,345 | €47,450 | 74.5% | - |
| PHARON Kortrijk | €140,135 | €52,571 | 91.6% | - |
| SANDRA SCHOENMAKERS Dilbeek | €160,672 | €47,603 | 36.0% | - |
| Coiffure Per Noi Tienen | €147,412 | €76,689 | 35.7% | - |
| HAIR FASHION SORAYA Kampenhout | €97,588 | €74,754 | 82.6% | - |
These companies have the same main activity as GRADES: hairdressing and barber services (NACE 96210). They are comparable in size and age: total assets between €97,600 and €161,000, founded between 1989 and 2000.
Official details
Source: KBO- Status
- Active since 18-02-1991Normal situation
- Activity
- Hairdressing and barber servicesNACE 96210
- Joint committee
- 314Hairdressing and beauty care · annual accounts 2025
- Establishment unit
- 2.051.820.1153012 Leuven, since 11-03-1991
- Financial year end
- 31 December
- Peppol
- Reachable since 21-11-2025
Insights on GRADES
GRADES files the micro format. That format states no turnover. The gross margin rose from €29,857 in 2006 to €57,411 in 2025.
The balance sheet grew most from 2022 to 2024 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about GRADES
- What is the company number of GRADES?
- The company number of GRADES is 0443.146.775. The VAT number is the same number with BE in front: BE 0443.146.775.
- Where is GRADES based?
- The registered office is at Mechelsesteenweg 15, 3012 Leuven.Company details
- What does GRADES do?
- According to the KBO register, the main activity is hairdressing and barber services (NACE 96210).
- What is the legal form of GRADES?
- GRADES is a private limited company (pre-2019) (BVBA).
- When was GRADES founded?
- GRADES was founded on 18-02-1991.
- Is GRADES still active?
- Yes, GRADES is an active enterprise in the KBO register.
- How many employees does GRADES have?
- GRADES had an average of 0.8 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does GRADES fall under?
- In its 2025 annual accounts, GRADES states joint committee 314 (Hairdressing and beauty care).
- What is the turnover of GRADES?
- The turnover in financial year 2025 is ≈ €140,000. This figure is estimated from the gross margin of €57,411 and 34 comparable companies (NACE 962). It probably lies between €110,000 and €160,000.
- Is GRADES profitable?
- In financial year 2025, GRADES made a profit of €20,174.
- Where can I find the annual accounts of GRADES?
- GRADES filed 35 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of GRADES due?
- GRADES must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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