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GRADES

Active Private limited company (pre-2019)founded 1991active for 35 yearsMechelsesteenweg 15, 3012 LeuvenKBO/BCE: BE 0443.146.775
GRADES
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Overview

Lifetime

20 annual accounts with figures on one time axis, 35 filings since 1991
peak €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 accounts

Equity

€62,923 ▲ 47.2%

GRADES has made a profit without a break since 2022.

Turnover

≈ €140,000 estimated

The micro format states no turnover.

Staff

1 employees on 31-12-2025
012021562023662024222025

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
AprilJune31 JulyOctober200020102020

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 strength
Strong

75+17equity 49.7% of total assets
54+16short-term debt 28.2% · cash 12.3%
89-5return on assets 15.9%

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
  • Micro
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more

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.

The companies in ten equal groups, from the lowest to the highest expected share
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 · Founded in 1991
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
raises risk · Last filed accounts filed 9 days late; 2 of the last 3 accounts late
NBB · filings
lowers risk · Liquidity: current ratio 1.75, cash €15,619
NBB · annual accounts
lowers risk · Figures for financial year 2025 (filed on 09-08-2026)
NBB · annual accounts
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 2025
Equity 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 filings
Deviation 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 months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

DR
Desmet Rose Marie A
Director, since 29-03-2001
GS
Grauwels Stefaan
Director, since 29-03-2001
Board & ownership

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
All 43 events

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
Company details

Annual accounts 2025

€57,411▼ 32.2%
€20,174▼ 21.6%
€62,923▲ 47.2%
€126,706▼ 1.4%
Employeeson 31-12-2025
1=
Filing
Filed on 09-08-2026
Financials

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.

Financials

Annual accounts 2025

micro format, filed on 09-08-2026, 9 days late
€57,411
▼ 32.2%
€28,015
▼ 22.5%
€20,174
▼ 21.6%
€26,764
▲ 519%
49.7%
▲ 16.4 percentage points
1.75
▲ 0.66

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €140,000. Estimated: probably between €110,000 and €160,000.

Balance sheet

balance sheet total €126,706 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

49.7%

Higher than 68% of 5,754 companies in 2025.

1.75

Higher than 67% of 5,318 companies in 2025.

15.9%

Higher than 75% of 5,363 companies in 2025.

GRADES Middle half of the sector 80% of the sector Micro accounts in personal services (NACE 96)

Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Staff

€12,798

Staff costs divided by the average number of full-time equivalents.

level

people who joined people who left

In 2025, 2 people joined and 2 left.

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 126,706128,44075,35068,03164,71069,65559,56560,55945,58761,64873,08567,860109,51796,68796,24169,93568,83372,67459,64065,244
21/28 64,23274,58826,98622,95632,20743,66822,47019,07617,23726,66535,27926,12310,29015,29216,66413,13120,63033,67130,89638,739
22/27 64,23274,58826,98622,95632,20743,66822,47019,07617,23726,66535,27926,12310,29015,29216,66413,13120,63033,67130,89638,739
22 19,78522,30912,373-----------------
23 -2886811,1572075275864683308431,2581,0138961,6062,0711,3666501,1081,583141
24 6,9691,9059,62116,47121,55127,5692,4523561,3912,3762,07220,2141,1972,1602,144-----
25 34,06745,423--3,984---------------
26 3,4114,6634,3115,3276,4657,6027,4792,3153,7775,8388,4714,8968,19711,52612,4494,76710,13515,26320,96726,079
29/58 62,47453,85248,36445,07532,50225,98837,09541,48328,35034,98337,80641,73799,22781,39579,57756,80448,20339,00328,74426,505
3 9,8279,8279,8279,8279,8279,8279,8279,8279,8279,08215,98015,98015,98016,22915,91612,8709,9828,7407,5496,692
30/36 9,8279,8279,8279,8279,8279,8279,8279,8279,8279,08215,98015,98015,98016,22915,91612,8709,9828,7407,5496,692
40/41 36,25237,38618,1679,2814,78614,97620,49219,1696,93916,11215,0662,40677,93754,54643,30233,52930,19624,00213,07116,951
40 1,169-----1,102-638170----------
41 35,08337,38618,1679,2814,78614,97619,39019,1696,30115,94215,0662,40677,93754,54643,30233,52930,19624,00213,07116,951
54/58 15,6195,88919,30724,85916,8732254,99610,85111,5849,7896,76023,3514,86910,62020,35910,4058,0256,2617,1332,862
490/1 7767501,0641,1071,0169601,7801,636----441-----991-
Balance sheet: equity and liabilities
10/49 126,706128,44075,35068,03164,71069,65559,56560,55945,58761,64873,08567,860109,51796,68796,24169,93568,83372,67459,64065,244
10/15 62,92342,74937,02313,0211,06912,53237,70533,80422,14327,69433,29138,59733,91380,32767,09151,57144,26338,74129,55616,751
10/11 18,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,750
100 ------18,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,75018,750
13 10,69210,69210,69210,69210,69210,69210,69210,69210,69210,69210,69210,69210,69210,69210,69210,69210,64310,2179,7348,817
130/1 1,8751,8751,8751,8751,8751,875--------------
130 ------1,8751,8751,8751,8751,8751,8751,8751,8751,8751,8751,8261,400917-
1311 1,8751,8751,8751,8751,8751,875--------------
132 2,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,0002,000
133 6,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,8176,817
14 33,48113,3077,581-16,421-28,373-16,9108,2634,362-7,299-1,7483,8499,1554,47150,88537,64922,12914,8709,7741,072-10,816
17/49 63,78385,69138,32755,01063,64157,12421,86026,75623,44433,95439,79429,26375,60416,36029,15018,36424,57033,93330,08448,493
17 28,07336,1636,63016,76631,81124,62510,53614,3316,30013,72921,0187023,4266,0168,8074,1067,60612,8276,54016,001
170/4 28,07336,1636,63016,76631,81124,62510,53614,3316,30013,72921,0187023,4266,0168,8074,1067,60612,8276,54016,001
42/48 35,71049,52931,69638,24331,83032,49911,32512,42417,14420,22518,77628,56172,17810,34419,35114,25816,96421,10623,54432,492
42 12,37316,64310,13615,04416,01510,4343,7953,7407,4297,2897,8532,7242,5902,4635,7733,1534,8757,2169,46114,885
43 -----6,003-----------946516147
430/8 -----6,003-----------946516147
44 4,6402,4034,3368,0496,57913,1533,4915,1153,5868,4716,2736,8855,2852,5071,3063,0685,9084,0293,0884,154
440/4 4,6402,4034,3368,0496,57913,1533,4915,1153,5868,4716,2736,8855,2852,5071,3063,0685,9084,0293,0884,154
45 18,69716,48317,22415,1509,2362,9084,0383,5696,1294,4654,6507,63616,8035,37412,2728,0376,1818,91510,4795,306
450/3 18,19016,48317,22413,9186,5772,9083,2753,4233,4691,8444,1345,24616,8034,51012,2727,9856,1818,91510,4795,306
454/9 507--1,2322,658-7621462,6592,6225162,390-864-52----
47/48 -14,000---------11,31647,500------8,000
492/3 --------------992-----
Income statement
76A -1,545-13,4745,0509,700252,390--6,581720-1071,701-9244,915--
9900 57,41184,685107,825102,31957,76325,02357,56172,56465,19249,20948,03965,86464,12649,73142,70233,96536,23532,57334,24229,857
62 10,23928,46271,35673,23953,31641,95243,22949,69459,28242,46443,69449,10045,29027,30914,47410,93411,4247,0591,976232
630 16,72316,2519,17112,04912,0848,6088,2927,52610,20411,14313,85310,3716,0286,2839,74310,53013,76213,63310,46011,875
640/8 2,4343,8404831,4211,1633268251,8611,2511,6121,1975591,3394426387171,3751,129878940
66A -------------258------
9901 28,01536,13326,81515,610-8,800-25,8635,21513,484-5,545-6,011-10,7055,83411,46915,69717,84711,7849,67410,75220,92816,810
75/76B 1,8961,5217324886231,6801,6451,0979371,9051492,8595,5304,3963,15057636--
75 1,8961,5217324886231,6801,6451,0979371,9051492,8595,5304,3963,15057636--
65/66B 3,2293,9621,2763,8973,0518291,6251,1086871,3421,2482,2461,8672,2112,0021,2942,1332,1152,5942,990
65 3,2293,9621,2763,8973,0518291,6251,1086871,3421,2482,2461,8672,2112,0021,2942,1332,1152,5942,990
9903 26,68333,69126,27112,200-11,229-25,0125,23513,473-5,294-5,447-5,2237,16715,13217,73120,69610,5478,52813,55818,33413,820
67/77 6,5087,9652,2692482341621,3341,812257150832,4831,5464,4955,1763,2393,0064,3735,5291,975
9904 20,17425,72624,00211,952-11,463-25,1733,90111,660-5,551-5,597-5,3064,68413,58613,23615,5207,3085,5229,18512,80511,845
9905 20,17425,72624,00211,952-11,463-25,1733,90111,660-5,551-5,597-5,3064,68413,58613,23615,5207,3085,5229,18512,80511,845
Appropriation of the result
9906 33,48133,3077,581-16,421-28,373-16,9108,2634,362-7,299-1,7483,8499,15564,47150,88537,64922,17815,29610,2571,989-2,816
14P 13,3077,581-16,421-28,373-16,910---------------
691/2 ---------------49426483917-
6920 ---------------49426483917-
694/7 -20,000----------60,000------8,000
694 -20,000----------50,000-------
695 ------------10,000------8,000
Social balance sheet
9087 0.81.31.41.51.51.61.21.41.51.51.51.31.30.90.50.30.31.10.70.1
Hours worked1013 8757652,5292,6742,0401,7401,8112,0922,6851,7771,5912,2872,3491,5438046247421,77777699
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 15 older financial years (1991-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 09-08-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 9 days after the deadline. Filed on 9 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00389047.

Financial year Type Filed Reference Document
31-12-2025 micro format 09-08-2026 2026-00389047 PDF
31-12-2024 micro format 16-09-2025 2025-00492219 PDF
31-12-2023 micro format 07-10-2024 2024-00495895 PDF
31-12-2022 micro format 02-08-2023 2023-00306365 PDF
31-12-2021 micro format 12-08-2022 2022-20284399 PDF
31-12-2020 micro format 09-08-2021 2021-46900318 PDF
31-12-2019 micro format 13-08-2020 2020-41000035 PDF
31-12-2018 micro format 23-10-2019 2019-71100011 PDF
31-12-2017 micro format 25-07-2018 2018-37400067 PDF
31-12-2016 micro format 09-08-2017 2017-42000392 PDF
31-12-2015 abbreviated format 10-08-2016 2016-41400356 PDF
31-12-2014 abbreviated format 10-08-2015 2015-40700358 PDF
31-12-2013 abbreviated format 29-09-2014 2014-60600369 PDF
31-12-2012 abbreviated format 09-08-2013 2013-41000347 PDF
31-12-2011 abbreviated format 26-10-2012 2012-61800408 PDF
31-12-2010 abbreviated format 11-08-2011 2011-39300548 PDF
31-12-2009 abbreviated format 29-07-2010 2010-36500311 PDF
31-12-2008 abbreviated format 07-08-2009 2009-55400376 PDF
31-12-2007 abbreviated format 08-08-2008 2008-55000052 PDF
31-12-2006 abbreviated format 24-07-2007 2007-46000031 PDF
31-12-2005 abbreviated format 23-11-2006 2006-88104413 PDF
31-12-2004 abbreviated format 12-08-2005 2005-64104802 PDF
31-12-2003 abbreviated format 30-09-2004 2004-68700259 PDF
31-12-2002 abbreviated format 21-10-2003 2003-75501377 PDF
31-12-2001 abbreviated format 26-09-2002 2002-58801668 PDF
31-12-2000 abbreviated format 15-06-2001 2001-21602490 PDF
31-12-1999 abbreviated format 14-08-2000 2000-51104162 PDF
31-12-1998 abbreviated format 29-06-1999 1999-25302613 PDF
31-12-1997 abbreviated format 01-07-1998 1998-27102585 PDF
31-12-1996 abbreviated format 30-06-1997 1997-22603554 PDF
31-12-1995 abbreviated format 10-10-1996 1996-47403713 PDF
31-12-1994 abbreviated format 30-06-1995 1995-33003305 PDF
31-12-1993 abbreviated format 11-08-1994 1994-35600342 PDF
31-12-1992 abbreviated format 07-07-1993 1993-23701580 PDF
31-12-1991 abbreviated format 29-06-1992 1992-16701068 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
44,73852,38335,98627,6593,284-17,25513,50721,0104,6595,1333,14816,20517,49721,98027,59022,31423,43624,38531,38828,685
36,89741,97633,17324,001621-16,56612,19319,1864,6535,5468,54715,05519,61419,51925,26317,83819,28422,81823,26523,720
6,36772,30813,2012,79762429,80511,68621,1047762,53042,38126,2041,0265,16819,8393,03172116,4092,617-
9,730-13,418-5,5537,98616,648-4,771-5,855-7331,7963,029-16,59118,482-5,751-9,7399,9542,3801,764-8724,271-
26,7644,32416,6686,832673-6,51125,77129,05911,20614,75819,03013,17627,04971,05160,22642,54631,23917,8975,200-5,987
49.7%33.3%49.1%19.1%1.7%18.0%63.3%55.8%48.6%44.9%45.6%56.9%31.0%83.1%69.7%73.7%64.3%53.3%49.6%25.7%
1.751.091.531.181.020.803.283.341.651.732.011.461.377.874.113.982.841.851.220.82
1.470.891.220.920.710.502.412.551.081.281.160.901.156.303.293.082.251.430.900.61
1.012.001.044.2259.534.560.580.791.061.231.200.762.230.200.430.360.560.881.022.89
32.1%60.2%64.8%91.8%--200.9%10.3%34.5%-25.1%-20.2%-15.9%12.1%40.1%16.5%23.1%14.2%12.5%23.7%43.3%70.7%
15.9%20.0%31.9%17.6%-17.7%-36.1%6.5%19.3%-12.2%-9.1%-7.3%6.9%12.4%13.7%16.1%10.4%8.0%12.6%21.5%18.2%
13.8613.2228.217.101.08---------------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item31-12-202531-12-202431-12-202331-12-202231-12-2021
Employees at the balance-sheet date11122
full-time11111
part-time---11
in full-time equivalents1111.61.5
0.81.31.41.51.5
On a permanent contract-1122
Joined265-0
Left266-1

Source: social balance sheet in the 2021 to 2025 annual accounts

Securities and guarantees

on own assets and for others
Item20252024202320222021
Carrying value of the other pledged assets--€8,455€13,795€23,119

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€6,367€72,308€13,201€2,797€624
€16,723€16,251€9,171€12,049€12,084

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on GRADES

The operating result for 2025 is 22% lower than in 2024.

Debt's share of the balance-sheet total falls from 66.7% to 50.3%. Equity is higher and debt is lower.

Board & ownership

Board

2 directors
Desmet Rose Marie A
Director
since 29-03-2001
listed in the 2025 annual accounts, filed on 09-08-2026
Grauwels Stefaan
Director
since 29-03-2001
listed in the 2025 annual accounts, filed on 09-08-2026

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today
Desmet Rose Marie A
Director
Grauwels Stefaan
Director
Board
Mandates as a list
  • Desmet Rose Marie A
    • Director, from 29-03-2001 to date
  • Grauwels Stefaan
    • Director, from 29-03-2001 to date

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€18,750
Source
2025 annual accounts

Network & group

No group

GRADES has no parent and no holdings in its annual accounts. GRADES shares no director with another company.

Timeline

Timeline

43 events since 1991

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · 9 days late
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0443146775
Annual accounts 2024 filed PDFmicro format · 47 days late
2024
Highest result from 2006 to 2025 net €25,726 ▲7.2% The operating result of €36,133 and the net result of €25,726 are both a record.
Annual accounts 2023 filed PDFmicro format · 68 days late
2023
Annual accounts 2022 filed PDFmicro format · 2 days late
2022
Back to profit net €11,952 The net result is €11,952, after 2 loss-making years.
Annual accounts 2021 filed PDFmicro format · 12 days late
2021
Annual accounts 2020 filed PDFmicro format · 9 days late
2020
Weakest financial year net -€25,173 The net result drops to -€25,173, the lowest from 2006 to 2025. It recovers the following year.
Annual accounts 2019 filed PDFmicro format · 13 days late
2019
Annual accounts 2018 filed PDFmicro format · 84 days late
2018
Back to profit net €11,660 The net result is €11,660, after 3 loss-making years.
Liquidity doubles current ratio 3.34 The current ratio rises from 1.65 to 3.34. Short-term debt falls from €17,144 to €12,424.
Annual accounts 2017 filed PDFmicro format · 6 days before the deadline
2017
Annual accounts 2016 filed PDFmicro format · 9 days late
2016
Annual accounts 2015 filed PDFabbreviated format · 10 days late
2015
Annual accounts 2014 filed PDFabbreviated format · 10 days late
2014
Annual accounts 2013 filed PDFabbreviated format · 60 days late
2013
Annual accounts 2012 filed PDFabbreviated format · 9 days late
2012
Annual accounts 2011 filed PDFabbreviated format · 87 days late
2011
Annual accounts 2010 filed PDFabbreviated format · 11 days late
2010
Annual accounts 2009 filed PDFabbreviated format · 2 days before the deadline
2009
Annual accounts 2008 filed PDFabbreviated format · 7 days late
2008
Annual accounts 2007 filed PDFabbreviated format · 8 days late
2007
Annual accounts 2006 filed PDFabbreviated format · 7 days before the deadline
2006
Annual accounts 2005 filed PDFabbreviated format
2005
Annual accounts 2004 filed PDFabbreviated format
2004
Annual accounts 2003 filed PDFabbreviated format
2003
Annual accounts 2002 filed PDFabbreviated format
2002
Annual accounts 2001 filed PDFabbreviated format
2001
Annual accounts 2000 filed PDFabbreviated format
2000
Annual accounts 1999 filed PDFabbreviated format
1999
Annual accounts 1998 filed PDFabbreviated format
1998
Annual accounts 1997 filed PDFabbreviated format
1997
Annual accounts 1996 filed PDFabbreviated format
1996
Annual accounts 1995 filed PDFabbreviated format
1995
Annual accounts 1994 filed PDFabbreviated format
1994
Annual accounts 1993 filed PDFabbreviated format
1993
Annual accounts 1992 filed PDFabbreviated format
1992
Annual accounts 1991 filed PDFabbreviated format
1991
First establishment KAPSALON ROSY, Mechelsesteenweg 15, Leuven
Incorporation published on 13-03-1991

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

GRADES was incorporated on 18 February 1991.1 The board currently has 2 members, 2 of whom have served since 2001.2 Total assets rose from €60,559 in 2018 to €126,706 in 2025 and headcount from 1.4 to 0.8 full-time equivalents.3

  1. 1KBO register
  2. 2National Bank, annual accounts 2025
  3. 3National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0443.146.775
VAT number
BE 0443.146.775
Peppol ID
0208:0443146775
Other Peppol ID
9925:BE0443146775
Legal form
Private limited company (pre-2019)
Status
Active, normal situation
Founded
18-02-1991
Financial year
ends on 31 December
Peppol
Reachable since 21-11-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
GRADES in Dutch
Entity type
Legal entity

Activities

NACEBEL 2025
VAT activities
96210 Hairdressing and barber services main activity
Social security (RSZ) activities
96210 Hairdressing and barber services main activity
Joint committees annual accounts 2025
JC 314 Hairdressing and beauty care
Codes under NACEBEL 2008
VAT activities
96021 Hairdressing main activity
Social security (RSZ) activities
96021 Hairdressing main activity
Codes under NACEBEL 2003
VAT activities
93021 main activity
Social security (RSZ) activities
93021 main activity

Registered office and establishments

1 establishment
Establishment Since Unit number
KAPSALON ROSY registered office Mechelsesteenweg 15, 3012 Leuven 11-03-1991 2.051.820.115

Buildings and parcels at the address

Ground area
161 m²
Buildings
103 m²
Volume, LiDAR
864 m³
Tallest building
10.7 m
Buildings to scale, each on its own parcel
103 m², 10.7 m 103 m², 10.7 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
24126D0341/00S003161 m² 1 · 103 m² 10.7 m · 3

Recognitions

Dual-learning approval

2 live approvals
Haarverzorging duaal (so)
approved · 2025 to 2030
Kapper (vwo)
approved · 2025 to 2030

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