GRAFLINE
ActiveSummary
GRAFLINE has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €193,127 and a net result of €55,898. Equity is growing by ~25.5% per year across the filed fiscal years. Its solvency ranks better than 63% of 315 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▲+11
Solvency77▲+3
Growth78=
Track record94
Bankruptcy probability, 12 months
1.4%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity ample (current ratio 1.66 against 1.72 in 2024; short-term debt: 40.4% and cash: 34.2% of total assets), and 47.8% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
52.2%
Return on assets
15.1%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 18
Relative position
BE, all sectors
reference
Printing and reproduction of recorded media (NACE 18)
about 11% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 31-07-2026, 0 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
on the day
2024
7 d early
2023
8 d early
2022
3 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 38% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€193,127▲ 19.0%
2024 · €162,229
Total assets
€370,162▲ 12.6%
2024 · €328,744
Net result
€55,898▲ 149%
2024 · €22,441
Working capital
€98,397▲ 17.5%
2024 · €83,764
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, 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
Line2022202320242025
Operating result-€44,281-€96,719€33,099▼ 65.8%€67,642▲ 104%
Net result-€47,570below the sector's middle half-€85,359above the sector's middle half€22,441within the sector's middle half▼ 73.7%€55,898above the sector's middle half▲ 149%
Equity€54,430within the sector's middle half-€139,788within the sector's middle half▲ 157%€162,229above the sector's middle half▲ 16.1%€193,127within the sector's middle half▲ 19.0%
Total assets€136,126within the sector's middle half-€292,807within the sector's middle half▲ 115%€328,744above the sector's middle half▲ 12.3%€370,162within the sector's middle half▲ 12.6%
Debt€81,696-€153,019▲ 87.3%€166,515▲ 8.8%€177,036▲ 6.3%
Working capital€35,860within the sector's middle half-€95,279above the sector's middle half▲ 166%€83,764within the sector's middle half▼ 12.1%€98,397within the sector's middle half▲ 17.5%
Solvency40.0%within the sector's middle half-47.7%within the sector's middle half▲ 7.8pp49.3%within the sector's middle half▲ 1.6pp52.2%within the sector's middle half▲ 2.8pp
Current ratio1.88within the sector's middle half-2.14within the sector's middle half▲ 0.261.72within the sector's middle half▼ 0.411.66within the sector's middle half▼ 0.07
Return on assets (ROA)-34.9%below the sector's middle half-29.2%above the sector's middle half▲ 64.1pp6.8%within the sector's middle half▼ 22.3pp15.1%above the sector's middle half▲ 8.3pp
Staff (FTE)1-1.4▲ 40.0%3.9▲ 179%2.9within the sector's middle half▼ 25.6%
above
within
below
the middle half (P25 to P75) of NACE 18, Printing and reproduction of recorded media, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 104% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €369,651
Fixed assets
€121,640 ▼ 5.1%
Current assets
€248,010 ▲ 24.4%
Equity and liabilities €370,162
Equity
€193,127 ▲ 19.0%
Debt
€177,036 ▲ 6.3%
Debt's share of the balance-sheet total falls from 50.7% to 47.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€96,996▲
2024 · €56,465
Cash flow
€85,252▲
2024 · €45,807
Debt to equity
0.92▼
2024 · 1.03
ROE
28.9%▲
2024 · 13.8%
Interest coverage
35.63▲
2024 · 13.51
Debt ≤ 1 year
€149,614▲
2024 · €115,660
Debt > 1 year
€25,303▼
2024 · €47,742
Income taxes
€9,028▲
2024 · €6,481
Staff costs
€122,114▼
2024 · €135,277
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 39,276 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
2.2%
stopped otherwise
96%
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 1.4% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 39,276 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €1,189 | - | - |
| Remuneration, social security and pensions62 | €24,854 | €53,162 | €135,277 | €122,114 | ▼ 9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,874 | €11,450 | €23,366 | €29,354 | ▲ 25.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €6,467 | -€74 | ▼ 101% |
| Other operating charges640/8 | €181 | €1,307 | €1,966 | €1,468 | ▼ 25.3% |
| Non-recurring operating charges66A | €2,500 | - | - | - | - |
| Gross operating margin9900 | -€9,872 | €162,637 | €200,175 | €220,505 | ▲ 10.2% |
| Operating profit (loss)9901 | -€44,281 | €96,719 | €33,099 | €67,642 | ▲ 104% |
| Financial income75/76B | €1 | €43 | €1 | €6 | ▲ 321% |
| Recurring financial income75 | €1 | €43 | €1 | €6 | ▲ 321% |
| Financial charges65/66B | €3,291 | €2,235 | €4,179 | €2,723 | ▼ 34.8% |
| Recurring financial charges65 | €3,291 | €2,235 | €4,179 | €2,723 | ▼ 34.8% |
| Profit (loss) for the period before taxes9903 | -€47,570 | €94,526 | €28,922 | €64,926 | ▲ 124% |
| Income taxes67/77 | - | €9,168 | €6,481 | €9,028 | ▲ 39.3% |
| Profit (loss) for the period9904 | -€47,570 | €85,359 | €22,441 | €55,898 | ▲ 149% |
| Profit (loss) for the period to be appropriated9905 | -€47,570 | €85,359 | €22,441 | €55,898 | ▲ 149% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €136,126 | €292,807 | €328,744 | €370,162 | ▲ 12.6% |
| Formation expenses20 | €2,354 | €1,740 | €1,126 | €512 | ▼ 54.5% |
| Fixed assets21/28 | €56,949 | €112,065 | €128,194 | €121,640 | ▼ 5.1% |
| Intangible fixed assets21 | €0 | - | - | €3,525 | - |
| Tangible fixed assets22/27 | €52,149 | €107,265 | €123,394 | €113,315 | ▼ 8.2% |
| Land and buildings22 | €9,254 | €32,919 | €46,988 | €43,429 | ▼ 7.6% |
| Plant, machinery and equipment23 | €41,172 | €72,246 | €59,456 | €55,447 | ▼ 6.7% |
| Furniture and vehicles24 | €1,722 | €2,100 | €16,950 | €12,815 | ▼ 24.4% |
| Other tangible fixed assets26 | - | - | - | €1,624 | - |
| Financial fixed assets28 | €4,800 | €4,800 | €4,800 | €4,800 | = |
| Current assets29/58 | €76,823 | €179,003 | €199,424 | €248,010 | ▲ 24.4% |
| Amounts receivable within one year40/41 | €53,180 | €74,794 | €57,749 | €113,096 | ▲ 95.8% |
| Trade receivables40 | €53,180 | €74,794 | €57,749 | €102,096 | ▲ 76.8% |
| Other amounts receivable41 | - | - | - | €11,000 | - |
| Cash at bank and in hand54/58 | €22,295 | €100,392 | €135,946 | €126,464 | ▼ 7.0% |
| Deferred charges and accrued income490/1 | €1,348 | €3,817 | €5,729 | €8,450 | ▲ 47.5% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €136,126 | €292,807 | €328,744 | €370,162 | ▲ 12.6% |
| Equity10/15 | €54,430 | €139,788 | €162,229 | €193,127 | ▲ 19.0% |
| Contributions10/11 | €102,000 | €102,000 | €102,000 | €102,000 | = |
| Capital10 | - | - | - | €102,000 | - |
| Issued capital100 | - | - | - | €102,000 | - |
| Profit (loss) carried forward14 | -€47,570 | €37,788 | €60,229 | €91,127 | ▲ 51.3% |
| Amounts payable17/49 | €81,696 | €153,019 | €166,515 | €177,036 | ▲ 6.3% |
| Amounts payable after more than one year17 | €40,733 | €69,294 | €47,742 | €25,303 | ▼ 47.0% |
| Financial debts170/4 | €40,733 | €69,294 | €47,742 | €25,303 | ▼ 47.0% |
| Amounts payable within one year42/48 | €40,963 | €83,725 | €115,660 | €149,614 | ▲ 29.4% |
| Current portion of amounts payable after more than one year42 | €11,234 | €20,702 | €21,552 | €22,439 | ▲ 4.1% |
| Trade debts44 | €22,930 | €40,806 | €50,350 | €55,014 | ▲ 9.3% |
| Suppliers440/4 | €22,930 | €40,806 | €50,350 | €55,014 | ▲ 9.3% |
| Taxes, remuneration and social security45 | €6,799 | €22,217 | €43,383 | €46,806 | ▲ 7.9% |
| Taxes450/3 | €3,481 | €14,535 | €28,011 | €24,333 | ▼ 13.1% |
| Remuneration and social security454/9 | €3,318 | €7,682 | €15,372 | €22,473 | ▲ 46.2% |
| Other amounts payable47/48 | - | - | €375 | €25,354 | ▲ 6,661% |
| Accrued charges and deferred income492/3 | - | - | €3,112 | €2,119 | ▼ 31.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€47,570 | €85,359 | €22,441 | €55,898 | ▲ 149% |
| + Depreciation and write-downs630 | €6,874 | €11,450 | €23,366 | €29,354 | ▲ 25.6% |
| Operating cash flow (approximation) | -€40,697 | €96,808 | €45,807 | €85,252 | ▲ 86.1% |
| Investment in fixed assets (approximation) | - | -€66,565 | -€39,496 | -€22,800 | ▲ 42.3% |
| Change in cash | - | €78,097 | €35,554 | -€9,482 | ▼ 127% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Equity above €150,000Eq €162,229 ▲16.1%
2 profitable years in a row build equity to €162,229.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €85,359
Net result €85,359 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €139,788 ▲157%
Equity rises from €54,430 to €139,788.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · 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, Gembloux · 2 establishment units since 2021
Ground area
6,614 m²
Building footprint
2,475 m²
Volume, LiDAR
16,857 m³
2 parcels, Wallonia · tallest building 12.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
GRAFLINE
since 20212.324.284.603
Grafline
since 20222.328.201.423
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25006C0331/00N000 | Wallonia | 6,168 m² | 1 · 2,304 m² | 12.8 m · 2 fl. |
| 92056E0307/00L000 | Wallonia | 446 m² | 1 · 170 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,597 companies in sector 18120 we hold annual accounts for 809. 625 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
Founded27-10-2021
Fiscal year end31-12
Activities, NACEBEL 2025
18120Other printing
70200Business and other management consultancy
74120Graphic design and visual communication
E-invoicing
Reachable via Peppol
Peppol ID
0208:0776583285
Registered
16-11-2021
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.