Graindorge
ActiveSummary
Graindorge has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €430k and a net result of €-70k. Equity is growing by ~23.9% per year across the filed fiscal years. Its solvency ranks better than 42% of 7777 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability46▼-15
Solvency63▼-1
Growth43=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity tight (current ratio 1.3 against 1.38 in 2024; short-term debt: 22.8% and cash: 4.9% of total assets), and 62.1% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-70k
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
58 d early
2023
43 d early
2022
45 d early
2021
54 d early
2020
39 d early
2019
15 d early
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€1.66M▼ 4.3%
2024 · €1.73M
2019: €1.98M
2020: €1.64M
2021: €2.19M
2022: €2.17M
2023: €2.10M
2024: €1.73M
2019 → 2025
EBIT margin
-3.5%▼ 3.4pp
2024 · -0.1%
2019: 1.6%
2020: 1.1%
2021: 10.4%
2022: 8.8%
2023: 4.0%
2024: -0.1%
2019 → 2025
Net result
€-70k▼ 351%
2024 · €-15k
2018: €55k
2019: €21k
2020: €6k
2021: €175k
2022: €143k
2023: €51k
2024: €-15k
2018 → 2025
Working capital
€77k▼ 24.5%
2024 · €102k
2018: €98k
2019: €181k
2020: €154k
2021: €271k
2022: €175k
2023: €107k
2024: €102k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€2.19M-€2.17M▼ 0.7%€2.10M▼ 3.3%€1.73M▼ 17.6%€1.66M▼ 4.3%
Equity€332k-€476k▲ 43.1%€526k▲ 10.7%€508k▼ 3.4%€430k▼ 15.5%
Operating result€227k-€190k▼ 16.3%€83k▼ 56.1%€-2k€-58k▼ 2,456%
Net result€175k-€143k▼ 18.4%€51k▼ 64.6%€-15k€-70k▼ 351%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €58k in 2025 against €2k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.13M
Fixed assets
€799k ▼ 13.2%
Current assets
€336k ▼ 9.5%
Equity and liabilities €1.13M
Equity
€430k ▼ 15.5%
Debt
€705k ▼ 10.0%
Debt's share of the balance-sheet total rises from 60.6% to 62.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€72k▼
2024 · €125k
Cash flow
€60k▼
2024 · €112k
Current ratio
1.30▼
2024 · 1.38
Quick ratio
0.81▼
2024 · 0.86
Debt to equity
1.64▲
2024 · 1.54
ROE
-16.3%▼
2024 · -3.0%
ROA
-6.2%▼
2024 · -1.2%
Interest coverage
4.79▼
2024 · 7.92
Debt ≤ 1 year
€259k▼
2024 · €269k
Debt > 1 year
€442k▼
2024 · €512k
Income taxes
€453▲
2024 · €376
Staff costs
€590k▼
2024 · €604k
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 · 59 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.29M€1.13M▼
Fixed assets21/28€920k€799k▼
Intangible fixed assets21€0-
Tangible fixed assets22/27€920k€798k▼
Land and buildings22€629k€593k▼
Plant, machinery and equipment23€7k€3k▼
Furniture and vehicles24€259k€184k▼
Other tangible fixed assets26€24k€18k▼
Financial fixed assets28€500€500=
Current assets29/58€371k€336k▼
Stocks and contracts in progress3€139k€128k▼
Stocks30/36€139k€128k▼
Amounts receivable within one year40/41€90k€138k▲
Trade receivables40€64k€109k▲
Other amounts receivable41€26k€29k▲
Cash at bank and in hand54/58€130k€56k▼
Deferred charges and accrued income490/1€12k€15k▲
Equity and liabilities
Total equity and liabilities10/49€1.29M€1.13M▼
Equity10/15€508k€430k▼
Contributions10/11€19k€19k=
Reserves13€438k€373k▼
Distributable reserves133€438k€373k▼
Profit (loss) carried forward14€14k€-29k▼
Investment grants15€38k€67k▲
Amounts payable17/49€783k€705k▼
Amounts payable after more than one year17€512k€442k▼
Financial debts170/4€512k€442k▼
Amounts payable within one year42/48€269k€259k▼
Current portion of amounts payable after more than one year42€107k€70k▼
Financial debts43€0€10k▲
Credit institutions430/8€0€10k▲
Trade debts44€66k€67k▲
Suppliers440/4€66k€67k▲
Taxes, remuneration and social security45€69k€73k▲
Taxes450/3€6k€7k▲
Remuneration and social security454/9€63k€66k▲
Other amounts payable47/48€27k€38k▲
Accrued charges and deferred income492/3€2k€5k▲
Income statement
Code20242025
Turnover70€1.73M€1.66M▼
Goods, raw materials, services and sundry goods60/61€1.12M€1.04M▼
Remuneration, social security and pensions62€604k€590k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€128k€130k▲
Other operating charges640/8€13k€9k▼
Gross operating margin9900€742k€671k▼
Operating profit (loss)9901€-2k€-58k▼
Financial income75/76B€3k€4k▲
Recurring financial income75€3k€4k▲
Financial charges65/66B€16k€15k▼
Recurring financial charges65€16k€15k▼
Profit (loss) for the period before taxes9903€-15k€-69k▼
Income taxes67/77€376€453▲
Profit (loss) for the period9904€-15k€-70k▼
Profit (loss) for the period to be appropriated9905€-15k€-70k▼
Appropriation of the result
Profit (loss) to be appropriated9906€14k€-56k▼
Profit (loss) brought forward from the previous period14P€29k€14k▼
Transfer from equity791/2€40k€65k▲
Profit to be distributed694/7€40k€38k▼
Return on contributions (dividend)694€40k€38k▼
Social balance
Average headcount (FTE)908712.811.3▼
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet €-70k
Net result drops to €-70k, the lowest in the series.
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
18-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €500kEq €526k ▲10.7%
6 profitable years in a row build equity to €526k.
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €175k ▲2982%
Operating result €227k, net result €175k, both a record.
31-12
Financial
Equity above €200kEq €332k ▲112%
4 profitable years in a row build equity to €332k.
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Equity above €150kEq €151k ▲16.3%
2 profitable years in a row build equity to €151k.
Show earlier events
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Flémalle · 1 establishment unit since 1992
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Quai du Halage(Flh) 124400 FlémalleGround area
732 m²
Building footprint
668 m²
Volume, LiDAR
9,769 m³
Parcel 62037B0439/00F002, Wallonia · tallest building 17.1 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Quai du Halage(Flh) 12, 4400 Flémalle
since 19922.056.765.729
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62037B0439/00F002 | Wallonia | 731 m² | 1 · 668 m² | 17.1 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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MUERMANS
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,662. 4,195 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded04-03-1992
Fiscal year end31-12
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
28250Manufacture of machinery and equipment not elsewhere classified
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 34 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.