Graeth
ActiveSummary
Graeth has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €187k and a net result of €56k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 47% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▲+46
Solvency50▲+9
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity tight (current ratio 1.34 against 1.19 in 2024; short-term debt: 74.5% and cash: 21.5% of total assets), and 74.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
25.5%
Return on assets
7.6%
Age of the figures
9 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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
31 d early
2023
14 d early
2022
12 d early
2021
2 d early
2020
30 d late
2019
52 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€187k▲ 42.6%
2024 · €131k
2018: €154k
2019: €194k▲ +25.8% vs 2018highest in 8 years
2020: €182k▼ -6.3% vs 2019
2021: €173k▼ -4.7% vs 2020
2022: €167k▼ -3.8% vs 2021
2023: €184k▲ +10.6% vs 2022
2024: €131k▼ -28.7% vs 2023lowest in 8 years
2025: €187k▲ +42.6% vs 2024
2018 → 2025
Total assets
€735k▼ 11.9%
2024 · €835k
2018: €760k
2019: €1.00M▲ +32.0% vs 2018
2020: €1.24M▲ +24.0% vs 2019highest in 8 years
2021: €1.16M▼ -6.6% vs 2020
2022: €980k▼ -15.7% vs 2021
2023: €788k▼ -19.6% vs 2022
2024: €835k▲ +5.9% vs 2023
2025: €735k▼ -11.9% vs 2024lowest in 8 years
2018 → 2025
Net result
€56k
2024 · €-53k
2018: €129khighest in 8 years
2019: €40k▼ -69.1% vs 2018
2020: €-12k▼ -131% vs 2019
2021: €-9k▲ +30.7% vs 2020
2022: €103k▲ +1311% vs 2021
2023: €18k▼ -82.9% vs 2022
2024: €-53k▼ -400% vs 2023lowest in 8 years
2025: €56k▲ +206% vs 2024
2018 → 2025
Working capital
€187k▲ 43.2%
2024 · €131k
2018: €-124klowest in 8 years
2019: €11k▲ +108% vs 2018
2020: €180k▲ +1617% vs 2019
2021: €170k▼ -5.5% vs 2020
2022: €165k▼ -3.4% vs 2021
2023: €183k▲ +11.2% vs 2022
2024: €131k▼ -28.6% vs 2023
2025: €187k▲ +43.2% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€173k-€167k▼ 3.8%€184k▲ 10.6%€131k▼ 28.7%€187k▲ 42.6%
2021: €173k
2022: €167k▼ -3.8% vs 2021
2023: €184k▲ +10.6% vs 2022
2024: €131k▼ -28.7% vs 2023lowest in 5 years
2025: €187k▲ +42.6% vs 2024highest in 5 years
Operating result€9k-€151k▲ 1,506%€44k▼ 71.1%€-30k€86k
2021: €9k
2022: €151k▲ +1506% vs 2021highest in 5 years
2023: €44k▼ -71.1% vs 2022
2024: €-30k▼ -168% vs 2023lowest in 5 years
2025: €86k▲ +386% vs 2024
Net result€-9k-€103k€18k▼ 82.9%€-53k€56k
2021: €-9k
2022: €103k▲ +1311% vs 2021highest in 5 years
2023: €18k▼ -82.9% vs 2022
2024: €-53k▼ -400% vs 2023lowest in 5 years
2025: €56k▲ +206% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €86k after a loss of €30k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €735k
Fixed assets
€318 ▼ 61.6%
Current assets
€735k ▼ 11.9%
Equity and liabilities €735k
Equity
€187k ▲ 42.6%
Debt
€548k ▼ 22.1%
Debt's share of the balance-sheet total falls from 84.3% to 74.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€86k▲
2024 · €-29k
Cash flow
€56k▲
2024 · €-52k
Current ratio
1.34▲
2024 · 1.19
Quick ratio
0.52▲
2024 · 0.26
Debt to equity
2.92▼
2024 · 5.35
ROE
29.9%▲
2024 · -40.3%
ROA
7.6%▲
2024 · -6.3%
Interest coverage
3.45▲
2024 · -1.28
Debt ≤ 1 year
€548k▼
2024 · €703k
Income taxes
€5k▲
2024 · €0
Staff costs
€0▼
2024 · €24
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines
Balance sheet
Code20242025
Assets
Total assets20/58€835k€735k▼
Fixed assets21/28€827€318▼
Tangible fixed assets22/27€827€318▼
Furniture and vehicles24€827€318▼
Current assets29/58€834k€735k▼
Stocks and contracts in progress3€651k€450k▼
Stocks30/36€651k€450k▼
Amounts receivable within one year40/41€130k€127k▼
Trade receivables40€0-
Other amounts receivable41€130k€127k▼
Cash at bank and in hand54/58€53k€158k▲
Equity and liabilities
Total equity and liabilities10/49€835k€735k▼
Equity10/15€131k€187k▲
Contributions10/11€150k€150k=
Reserves13€0-
Distributable reserves133€0-
Profit (loss) carried forward14€-19k€37k▲
Amounts payable17/49€703k€548k▼
Amounts payable within one year42/48€703k€548k▼
Financial debts43€447k€280k▼
Credit institutions430/8€447k€280k▼
Trade debts44€7k€18k▲
Suppliers440/4€7k€18k▲
Taxes, remuneration and social security45€0-
Taxes450/3€0-
Other amounts payable47/48€250k€250k=
Income statement
Code20242025
Remuneration, social security and pensions62€24€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€509€509=
Other operating charges640/8€56k€15k▼
Gross operating margin9900€27k€101k▲
Operating profit (loss)9901€-30k€86k▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€23k€25k▲
Recurring financial charges65€23k€25k▲
Profit (loss) for the period before taxes9903€-53k€61k▲
Income taxes67/77€0€5k▲
Profit (loss) for the period9904€-53k€56k▲
Profit (loss) for the period to be appropriated9905€-53k€56k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-53k€37k▲
Profit (loss) brought forward from the previous period14P€0€-19k▼
Transfer from equity791/2€34k€0▼
Transfer to equity691/2€0-
To other reserves6921€0-
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €44k | €45k | €37k | €24 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1k | €770 | €770 | €509 | €509 | = |
| Other operating charges640/8 | €2k | €2k | €1k | €56k | €15k | ▼ 73.3% |
| Gross operating margin9900 | €57k | €199k | €83k | €27k | €101k | ▲ 277% |
| Operating profit (loss)9901 | €9k | €151k | €44k | €-30k | €86k | ▲ 386% |
| Financial income75/76B | €139 | €2 | €5 | €0 | - | - |
| Recurring financial income75 | €139 | €2 | €5 | €0 | - | - |
| Financial charges65/66B | €18k | €17k | €19k | €23k | €25k | ▲ 8.6% |
| Recurring financial charges65 | €18k | €17k | €19k | €23k | €25k | ▲ 8.6% |
| Profit (loss) for the period before taxes9903 | €-8k | €134k | €24k | €-53k | €61k | ▲ 215% |
| Income taxes67/77 | €202 | €31k | €7k | €0 | €5k | - |
| Profit (loss) for the period9904 | €-9k | €103k | €18k | €-53k | €56k | ▲ 206% |
| Profit (loss) for the period to be appropriated9905 | €-9k | €103k | €18k | €-53k | €56k | ▲ 206% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.16M | €980k | €788k | €835k | €735k | ▼ 11.9% |
| Fixed assets21/28 | €3k | €2k | €1k | €827 | €318 | ▼ 61.6% |
| Tangible fixed assets22/27 | €3k | €2k | €1k | €827 | €318 | ▼ 61.6% |
| Furniture and vehicles24 | €3k | €2k | €1k | €827 | €318 | ▼ 61.6% |
| Current assets29/58 | €1.16M | €978k | €787k | €834k | €735k | ▼ 11.9% |
| Stocks and contracts in progress3 | €825k | €680k | €668k | €651k | €450k | ▼ 31.0% |
| Stocks30/36 | €825k | €680k | €668k | €651k | €450k | ▼ 31.0% |
| Amounts receivable within one year40/41 | €335k | €227k | €24k | €130k | €127k | ▼ 2.2% |
| Trade receivables40 | €0 | - | €856 | €0 | - | - |
| Other amounts receivable41 | €335k | €227k | €23k | €130k | €127k | ▼ 2.2% |
| Cash at bank and in hand54/58 | €30 | €72k | €95k | €53k | €158k | ▲ 200% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.16M | €980k | €788k | €835k | €735k | ▼ 11.9% |
| Equity10/15 | €173k | €167k | €184k | €131k | €187k | ▲ 42.6% |
| Contributions10/11 | €150k | €150k | €150k | €150k | €150k | = |
| Reserves13 | €23k | €15k | €34k | €0 | - | - |
| Non-distributable reserves130/1 | €15k | €15k | €0 | - | - | - |
| Reserves not available under the articles1311 | €15k | €15k | €0 | - | - | - |
| Distributable reserves133 | €8k | €0 | €34k | €0 | - | - |
| Profit (loss) carried forward14 | - | €2k | €0 | €-19k | €37k | ▲ 301% |
| Amounts payable17/49 | €989k | €814k | €604k | €703k | €548k | ▼ 22.1% |
| Amounts payable within one year42/48 | €989k | €814k | €604k | €703k | €548k | ▼ 22.1% |
| Financial debts43 | €636k | €449k | €447k | €447k | €280k | ▼ 37.4% |
| Credit institutions430/8 | €636k | €449k | €447k | €447k | €280k | ▼ 37.4% |
| Trade debts44 | €3k | €7k | €5k | €7k | €18k | ▲ 177% |
| Suppliers440/4 | €3k | €7k | €5k | €7k | €18k | ▲ 177% |
| Taxes, remuneration and social security45 | €8k | €39k | €37k | €0 | - | - |
| Taxes450/3 | €751 | €32k | €37k | €0 | - | - |
| Remuneration and social security454/9 | €7k | €7k | €0 | - | - | - |
| Other amounts payable47/48 | €343k | €319k | €115k | €250k | €250k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-9k | €103k | €18k | €-53k | €56k | ▲ 206% |
| + Depreciation and write-downs630 | €1k | €770 | €770 | €509 | €509 | = |
| Operating cash flow (approximation) | €-7k | €104k | €18k | €-52k | €56k | ▲ 208% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €72k | €23k | €-42k | €106k | ▲ 350% |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €56k
Net result €56k after one loss-making year.
31-12
Financial
Equity above €150kEq €187k ▲42.6%
Equity rises from €131k to €187k.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-53k
Net result drops to €-53k, the lowest in the series; recovery starts the following year.
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €103k
Net result €103k after 2 loss-making years.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
21-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 52 days late
2019
11-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 133 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Bree · 1 establishment unit since 2015
Ground area
2,335 m²
Building footprint
325 m²
Volume, LiDAR
1,559 m³
Parcel 72004B0004/00M002, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
22
companies at this address
See who is registered here
1 establishment unit
Graeth
since 20152.305.266.762
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72004B0004/00M002 | Flanders | 2,335 m² | 1 · 325 m² | 8.1 m · 2 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 2,343 EUR awarded · 2,343 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 2,343 EUR | 2,343 EUR |
Schemes
Vlaams opleidingsverlof (VOV)
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Of 9,693 companies in sector 68121 we hold annual accounts for 7,385. 5,335 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
Founded23-04-2015
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.