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Graindorge

Active Private limited companyfounded 1992active for 34 yearsQuai du Halage 12, 4400 FlémalleKBO/BCE: BE 0446.785.166
Graindorge
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Overview

Lifetime

20 annual accounts with figures on one time axis, 34 filings since 1992
peak €914,296 (2022)
€670,742▼ 9.7%
lowest -€69,952 (2025)
-€69,952▼ €54,453
peak €526,246 (2023)
€429,537▼ 15.5%
€705,215▼ 10.0%
peak 13.1 FTE (2021)
11.3 FTE▼ 11.7%
Board1 name since 2005
1 directorGRAINDORGE Stéphane
Documentsfilings and deeds
17-07-202614 days before the deadline
2025abbreviated format
Loss of €69,952Staff from 12.8 FTE to 11.3 FTEDividend €38,000Equity from €508,317 to €429,537Cash from €129,941 to €56,084

Key points

from the 2025 annual accounts

Equity

€429,537 ▼ 15.5%
508,3172024-69,952Loss-38,000Dividend+29,172Other429,5372025

Graindorge paid out €38,000 in dividends in a year with a loss of €69,952.

Result

-€69,952 ▼ 351%
-€15,5002024-€70,0002025

The result fell in 2025 from -€15,499 to -€69,952.

Investments

€9,269 0.1 × depreciation
20212022202320242025

Green is investment, beige is depreciation.

Staff

11 employees on 31-12-2025
9620217112022872023442024462025

In 2025, 4 people joined and 6 left.

Filings

34 annual accounts since 1992
AprilJune31 JulyOctober200020102020

The 2016 accounts came 17 days late. The other nine of the last ten were filed on time.

Position in the sector

-€69,952

Lower net result than 95% of companies in specialised construction. Sector median €26,691 · 9,959 companies.

Checked score

68
Healthy
Financially stronger than 38% of small companies in specialised construction (NACE 43)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.3% across 2,647 companies (NACE 43, small).

About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.4% 01-2025: 0.4%● unchanged vs 12-2024 02-2025: 0.4%● unchanged vs 01-2025 03-2025: 0.4%● unchanged vs 02-2025 04-2025: 0.4%● unchanged vs 03-2025 05-2025: 0.4%● unchanged vs 04-2025 06-2025: 0.4%● unchanged vs 05-2025lowest value 07-2025: 0.5%▲ +0.1 percentage points vs 06-2025 08-2025: 0.5%● unchanged vs 07-2025 09-2025: 0.5%● unchanged vs 08-2025 10-2025: 0.5%● unchanged vs 09-2025 11-2025: 0.5%● unchanged vs 10-2025 12-2025: 0.5%● unchanged vs 11-2025 01-2026: 0.5%● unchanged vs 12-2025 02-2026: 0.5%● unchanged vs 01-2026 03-2026: 0.5%● unchanged vs 02-2026 04-2026: 0.5%● unchanged vs 03-2026 05-2026: 0.5%● unchanged vs 04-2026 06-2026: 0.5%● unchanged vs 05-2026 07-2026: 0.5%● unchanged vs 06-2026 08-2026: 0.8%▲ +0.3 percentage points vs 07-2026highest value 09-2026: 0.8%● unchanged vs 08-2026highest value 10-2026: 0.8%● unchanged vs 09-2026highest value 11-2026: 0.8%● unchanged vs 10-2026highest value

Financial strength
Average

63-1equity 37.9% of total assets
48-8short-term debt 22.8% · cash 4.9%
46-15return on assets -6.2%

Score breakdown

raises risk
Sector: Specialised construction activities (NACE 43)
Loss of €69,952, the second in a row (financial year 2025)
Size: turnover €1.7m, 11.3 FTE, total assets €1.1m
lowers risk
Founded in 1992
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 43, small). It does better than 50% of them on solvency, 55% on liquidity, 21% on profitability and 26% on growth.

The bankruptcy probability was computed on 08-11-2026 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 low class on 30-06-2025, 0.8% 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, 8,617 companies had the same profile as Graindorge has now. Each dot stands for 22 companies, two years later.

94.2%
were still trading
5.2%
stopped another way
0.4%
went bankrupt
  • Small
  • 20 years or older
  • solvency 30% or more
  • a small loss

Another 0.2% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of Graindorge itself is higher: 0.8% within 12 months. It rests on far more data about Graindorge than the profile alone.

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 8,617 companies, not a prediction for Graindorge. 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 €25,000 on 30-day terms is acceptable

Liquidity is tight, with a current ratio of 1.3 (1.38 in 2024), below the usual 1.5. Short-term debt is 22.8% and cash 4.9% of total assets. 62.1% 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 riskneutral
raises risk · Sector: Specialised construction activities (NACE 43)
KBO
raises risk · Loss of €69,952, the second in a row (financial year 2025)
NBB · annual accounts
lowers risk · Founded in 1992
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 · Size: turnover €1.7m, 11.3 FTE, total assets €1.1m
Companies of this size fail more often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
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 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€69,952
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 filings
Deviation from the deadline
2025
14 days early
2024
58 days early
2023
43 days early
2022
45 days early
2021
54 days early
2020
39 days early
2019
15 days early
← 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 38 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% 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 16 June (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
09-11-2026 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

GS
GRAINDORGE Stéphane
Director, since 01-01-2005
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0446785166
Amendment of the articles · Legal-form change · Resignations & appointments “La société pourra également constituer un patrimoine mobilier et immobilier, ce qui comprend notamment…” (deed in French) · Gazette deed
First establishment Quai du Halage 12, Flémalle
Incorporation published on 25-03-1992 · Gazette deed
All 46 events

Comparable companies

same main activity, similar in size and age
Company
Graindorge Flémalle €1.1m €670,742 37.9% 11.3
KLIMA-VANDENBROUCKE Kortrijk €1.2m €784,736 28.1% 10.5
MOREAU Amay €1.1m €867,656 37.3% 11.3
EDISON Burdinne €1.4m €799,445 31.6% 14.4
CLIMAFROID Visé €0.9m €502,525 46.5% 9.3
D.M. SYNERGIE Oupeye €0.8m €628,267 87.8% 10.3
DELBRASSINE WAREMME Waremme €0.9m €849,457 77.0% 11.7

These companies have the same main activity as Graindorge: installation of electric heating, air conditioning, cooling and ventilation (NACE 43222). They are comparable in size and age: total assets between €784,000 and €1.4m, founded between 1984 and 1999.

Official details

Source: KBO
Status
Active since 04-03-1992Normal situation
Activity
Installation of electric heating, air conditioning, cooling and ventilationNACE 43222and 2 others
Joint committee
149.01Electricians: installation and distribution · annual accounts 2025
Establishment unit
2.056.765.7294400 Flémalle, since 27-03-1992
Financial year end
31 December
Peppol
Reachable since 03-07-2025
Company details

Annual accounts 2025

€1.7m▼ 4.3%
€69,952▲ 351%
€429,537▼ 15.5%
€1.1m▼ 12.1%
Employeeson 31-12-2025
11▼ 15.4%
Filing
Filed on 17-07-2026, 14 days before the end of the filing period
Financials

Insights on Graindorge

Graindorge files the abbreviated format. That format states no turnover. The gross margin rose from €296,708 in 2006 to €670,742 in 2025.

The balance sheet grew most from 2019 to 2021 through fixed assets.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

abbreviated format, filed on 17-07-2026, 14 days before the deadline
€1.7m
▼ 4.3%
-€58,488
▼ €56,200
€71,710
▼ 42.8%
€60,246
▼ 46.3%
37.9%
▼ 1.5 percentage points
1.30
▼ 0.08

Money flows

of every €100 of turnover, €4.22 was lost in 2025

Balance sheet

balance sheet total €1.1m on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

37.9%

Higher than 42% of 9,967 companies in 2025.

1.30

Higher than 33% of 9,830 companies in 2025.

-6.2%

Higher than 11% of 9,899 companies in 2025.

Graindorge Middle half of the sector 80% of the sector Abbreviated accounts in specialised construction (NACE 43)

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

Staff

€52,242

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

-2 people

people who joined people who left

In 2025, 4 people joined and 6 left. Training hours in 2025: 2,601.

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 1.1m1.3m1.2m1.3m1.3m541,798439,641318,232248,031237,016264,691298,018273,948327,688349,265358,467375,553442,957423,736457,513
20 --0-----------------
21/28 798,744920,056874,452856,640558,93680,71356,76034,36517,64511,74736,41962,94850,71160,98976,64790,333113,212141,076139,709161,771
21 -0000000------------
22/27 798,244919,556873,952856,140558,43680,58956,63634,24117,52111,62336,29562,82450,58752,02567,68381,369104,248132,112130,745153,318
22 592,974629,346651,794640,096441,273000-2,7773,2654,3635,4626,5607,6588,7579,85510,95312,05210,250
23 2,7477,10714,21022,34324,8942,1861,6874,4866,6921,125-0183429127-9062,8466,1195,172
24 184,463259,113178,027157,85150,48830,69225,17611,4119,9026,51732,70847,91123,64812,99617,11419,08429,21343,29428,42343,162
26 18,06023,99029,92035,85141,78147,71129,77218,3449271,20432210,55021,29432,03942,78453,52864,27375,01884,15194,734
28 5005005005005001241241241241241241241248,9648,9648,9648,9648,9648,9648,453
29/58 336,008371,408353,091432,815708,959461,085382,881283,867230,386225,269228,272235,070223,237266,700272,618268,134262,341301,881284,028295,742
29 ----000-------------
291 ----000-------------
3 127,704139,344147,085151,14195,80581,72867,23080,64179,34285,069153,744163,199161,327156,734139,232160,895175,922195,509155,405147,323
30/36 127,704139,344147,085151,14195,80581,72867,23080,64179,34285,069153,744163,199161,327156,734139,232160,895175,922195,509155,405147,323
40/41 137,64989,768101,721141,852175,43378,181205,182101,67786,06045,4891,09463,07852,385100,264120,229104,51469,81496,845117,511121,544
40 108,74363,92249,387112,637101,40539,205141,76577,69071,56930,521-55,78746,74899,426114,709104,51467,01890,99797,953111,910
41 28,90525,84752,33429,21574,02738,97663,41823,98714,49114,9681,0947,2915,6378385,520-2,7965,84919,5589,634
54/58 56,084129,94190,465127,053419,498300,176109,46997,83361,89493,96669,6574,2006,3998,78310,8701,69810,84828,78525,308
490/1 14,57212,35513,81912,76818,2231,0001,0003,7163,0907463,7774,5943,1269192,2881,0265,7579,5262,3261,567
Balance sheet: equity and liabilities
10/49 1.1m1.3m1.2m1.3m1.3m541,798439,641318,232248,031237,016264,691298,018273,948327,688349,265358,467375,553442,957423,736457,513
10/15 429,537508,317526,246475,567332,363156,938151,247130,04981,74661,34855,62840,14238,23976,66188,38582,50464,681106,65997,870109,339
10/11 18,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,600
100 ------18,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,600
13 373,350438,210478,210427,560284,360109,360103,72583,72535,72535,72535,72515,72515,72565,72565,72545,72545,72585,72578,72590,725
130/1 --01,8601,8601,860--------------
130 ------1,8601,8601,8601,8601,8601,8601,8601,8601,8601,8601,8601,8601,8601,860
1311 --01,8601,8601,860--------------
132 -----08,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,8658,865
133 373,350438,210478,210425,700282,500107,50093,00073,00025,00025,00025,0005,0005,00055,00055,00035,00035,00075,00068,00080,000
14 -29,15613,93629,43629,40729,40328,97828,92327,72427,4227,0231,3045,8183,914-7,6644,06018,1803572,33554515
15 66,74237,570------------------
17/49 705,215783,148701,297813,888935,532384,860288,394188,183166,285175,668209,063257,876235,710251,028260,881275,963310,871336,298325,867348,173
17 441,692512,069449,601490,373497,26178,10386,957---22,96143,92933,46230,19542,86645,35064,42889,87763,92678,612
170/4 441,692512,069449,601490,373497,26178,10386,957---22,96143,92933,46230,19542,86645,35064,42889,87763,92678,612
42/48 258,672268,955245,666257,621438,271306,757201,437185,935166,146175,668184,526213,125201,597219,306218,015229,113243,008244,030261,878269,475
42 70,377106,61966,48584,17760,98033,95725,543--5,20320,96828,60117,54413,49420,15019,07826,96828,47714,68624,573
43 10,09500020,87220,85220,8656,6675,0003,3703,70764,15567,96965,56050,07234,53649,56564,75621,93921,507
430/8 10,09500020,87220,85220,8656,6675,0003,3703,70764,15567,96965,56050,07234,53649,56548,4845,6675,234
439 -----------------16,27316,27316,273
44 67,47966,37391,99398,573254,014159,36570,104102,33048,07780,51777,53060,31757,25974,42877,78081,35078,75483,631148,454163,568
440/4 67,47966,37391,99398,573254,014159,36570,104102,33048,07780,51777,53060,31757,25974,42877,78081,35078,75483,631148,454163,568
46 -----006,991------------
45 72,72269,12580,22569,70898,05970,90168,60956,06572,35244,71639,16214,50213,26339,45224,31228,61625,88524,97134,62120,788
450/3 7,2176,34716,35614,52414,2799,49620,07418,14329,21415,18713,9491,6544,7297,4642,3565,6644,3973,9199,359538
454/9 65,50462,77863,86955,18383,77961,40648,53537,92243,13829,52825,21412,8488,53431,98821,95622,95221,48921,05225,26220,250
47/48 38,00026,8376,9635,1644,34821,68316,31613,88340,71741,86343,15945,55045,56226,37245,70165,53361,83442,19542,17839,039
492/3 4,8502,1246,03065,895--02,248138-1,5768226511,527-1,5003,4362,3916387
Income statement
70 1.7m1.7m2.1m2.2m2.2m1.6m2.0m-------------
9900 670,742742,480798,325914,296888,308525,105473,089445,560371,347302,179240,675203,089196,674267,993261,105246,334182,402223,472252,338296,708
60/61 1.0m1.1m1.4m1.3m1.4m1.1m1.5m-------------
62 590,330603,850605,134629,188622,117484,435419,270347,152314,254263,053176,969160,439185,943248,850206,428190,249177,508165,733224,634264,941
630 130,198127,648101,56888,42430,15716,50916,85011,8097,5116,45327,96728,58521,80217,39718,25722,87928,42231,62929,70739,335
631/4 --------1,857-1631,678-3426,824-------
640/8 8,70213,2708,1776,5038,8345,6835,4917,56913,64810,7905,3247,56414,1893,24817,7984,7856,0144,1455,3935,001
9901 -58,488-2,28883,446190,181227,20118,47831,47880,88736,09720,20530,4146,160-32,085-1,50218,62228,421-29,54221,964-7,395-12,569
75/76B 3,9722,9923661544966341,442125701161501193648961,4043991332616,3811,027
75 3,9722,9923661544966341,442125701161501193648961,4043991332616,3811,027
65/66B 14,98315,82811,00210,7197,7073,4992,4822,7921,7553,3363,9285,4255,4438,98110,84710,99812,56913,43510,24410,159
65 14,98315,82811,00210,7197,7073,4992,4822,7921,7553,3363,9285,4255,4438,98110,84710,99812,56913,43510,24410,159
9903 -69,499-15,12472,811179,616219,99015,61330,43978,22035,04316,88526,635854-37,164-9,5879,17917,823-41,9788,790-11,258-21,701
67/77 45337622,13336,41144,5659,9229,24022,91814,64411,16511,149-1,0501,2582,1373,298000212-13
9904 -69,952-15,49950,678143,205175,4245,69121,19955,30220,3985,72015,4861,904-38,422-11,7245,88117,823-41,9788,790-11,470-21,688
789 -----8,865--------------
9905 -69,952-15,49950,678143,205175,42414,55621,19955,30220,3985,72015,4861,904-38,422-11,7245,88117,823-41,9788,790-11,470-21,688
Appropriation of the result
9906 -56,01613,93680,086172,607204,40343,47848,92382,72427,4227,02321,3045,818-46,086-7,66424,06018,180-39,6439,335-11,455-14,985
14P 13,93629,43629,40729,40328,978---------------
791/2 64,86040,000----------50,000---40,000-12,00015,000
691/2 --50,650143,200175,00014,50020,00048,000--20,000---20,000--7,000--
6921 --50,650143,200175,00014,50020,00048,000--20,000---20,000--7,000--
694/7 38,00040,000-----7,000------------
694 38,00040,000-----7,000------------
Social balance sheet
9087 11.312.81212.913.110.38776.64.44.865.65.75.356.26.27.7
Hours worked1013 16,59818,83217,73620,97621,09215,00014,03211,88012,08210,9867,2607,4408,4969,4989,1888,6988,7629,55610,74412,234
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 14 older financial years (1992-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 21 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 17-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 abbreviated format 17-07-2026 2026-00304563 PDF
31-12-2024 full format 03-06-2025 2025-00115705 PDF
31-12-2023 full format 18-06-2024 2024-00142942 PDF
31-12-2022 full format 16-06-2023 2023-00130207 PDF
31-12-2021 full format 07-06-2022 2022-20049084 PDF
31-12-2020 full format 22-06-2021 2021-23100463 PDF
31-12-2019 full format 16-07-2020 2020-31100165 PDF
31-12-2018 micro format 18-07-2019 2019-35300492 PDF
31-12-2017 micro format 08-07-2018 2018-31400097 PDF
31-12-2016 micro format 17-08-2017 2017-44600538 PDF
31-12-2015 full format 29-08-2016 2016-52200183 PDF
31-12-2014 full format 08-08-2015 2015-40900409 PDF
31-12-2013 full format 20-08-2014 2014-44600070 PDF
31-12-2012 full format 09-08-2013 2013-41600177 PDF
31-12-2011 full format 27-08-2012 2012-46200112 PDF
31-12-2010 full format 20-06-2011 2011-18300454 PDF
31-12-2009 full format 27-08-2010 2010-47100177 PDF
31-12-2008 full format 27-08-2009 2009-64700276 PDF
31-12-2007 full format 21-08-2008 2008-59400150 PDF
31-12-2006 full format 28-08-2007 2007-64800398 PDF
31-12-2005 full format 17-08-2006 2006-64100648 PDF
31-12-2004 full format 21-06-2005 2005-30200989 PDF
31-12-2003 full format 29-07-2004 2004-55000963 PDF
31-12-2002 full format 25-07-2003 2003-51304955 PDF
31-12-2001 full format 03-07-2002 2002-33105235 PDF
31-12-2000 full format 09-08-2001 2001-49404494 PDF
31-12-1999 full format 22-06-2000 2000-26703419 PDF
31-12-1998 full format 06-07-1999 1999-30704007 PDF
31-12-1997 full format 23-06-1998 1998-21305289 PDF
31-12-1996 full format 10-06-1997 1997-13805046 PDF
31-12-1995 full format 12-06-1996 1996-15800398 PDF
31-12-1994 full format 13-07-1995 1995-39501300 PDF
31-12-1993 full format 29-06-1994 1994-22804237 PDF
31-12-1992 full format 12-07-1993 1993-25704786 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
71,710125,360185,015278,605257,35734,98748,32892,69643,60826,65858,38134,745-10,28215,89536,87951,300-1,11953,59322,31226,766
60,246112,149152,246231,629205,58122,20038,04967,11127,90912,17343,45330,489-16,6205,67324,13840,702-13,55640,41918,23717,647
9,269173,253130,148395,169513,14840,46339,24628,52820,2936,2731,43940,82120,3651,73921,845055845,32517,466119,573
-73,85739,475-36,588-292,444119,322190,70611,63635,939-32,07124,30865,458-2,199-2,384-2,0879,171-9,14910,846-8,784-16,523-
77,335102,453107,425175,194270,687154,327181,44497,93264,24049,60143,74521,94621,64047,39454,60439,02019,33357,85122,14926,267
-3.5%-0.1%4.0%8.8%10.4%1.1%1.6%-------------
37.9%39.4%42.9%36.9%26.2%29.0%34.4%40.9%33.0%25.9%21.0%13.5%14.0%23.4%25.3%23.0%17.2%24.1%23.1%23.9%
1.301.381.441.681.621.501.901.531.391.281.241.101.111.221.251.171.081.241.081.10
0.810.860.841.091.401.241.571.090.910.800.400.340.310.500.610.470.360.440.490.55
1.641.541.331.712.812.451.911.452.032.863.766.426.163.272.953.344.813.153.333.18
-16.3%-3.0%9.6%30.1%52.8%3.6%14.0%42.5%25.0%9.3%27.8%4.7%-100.5%-15.3%6.7%21.6%-64.9%8.2%-11.7%-19.8%
-6.2%-1.2%4.1%11.1%13.8%1.1%4.8%17.4%8.2%2.4%5.9%0.6%-14.0%-3.6%1.7%5.0%-11.2%2.0%-2.7%-4.7%
4.797.9216.8225.9933.39---------------
24 days13 days9 days19 days17 days9 days26 days-------------
24 days22 days25 days27 days68 days51 days17 days-------------

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 date1113131215
full-time1113121113
part-time--112
in full-time equivalents111312.811.814.1
11.312.81212.913.1
On a permanent contract111313129
Joined44879
Left647116
Training hours2,6013,856---

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

Securities and guarantees

on own assets and for others
Item20252024202320222021
Debts secured on the company's own assets€522,163€618,688€695,267€574,549€558,240
Mortgages, amount registered€50,000€50,000-€50,000€50,000
€425,000€425,000-€425,000€425,000
Carrying value of the mortgaged assets€592,974€629,346-€856,640€558,436

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€9,269€173,253€130,148€395,169€512,648
Financial fixed assets----€500
€130,198€127,648€101,568€88,424€30,157

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

Insights on Graindorge

The operating result for 2025 is a loss of €58,488, larger than the loss of €2,288 in 2024. It is the lowest result since 2006.

Debt's share of the balance-sheet total rises from 60.6% to 62.1%. Equity and debt are lower.

Board & ownership

Board

1 director
GRAINDORGE Stéphane
Director
since 01-01-2005
listed in the 2025 annual accounts, filed on 17-07-2026

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
GRAINDORGE Stéphane
Director
Board
Mandates as a list
  • GRAINDORGE Stéphane
    • Director, from 01-01-2005 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
€18,600
Source
2025 annual accounts

Articles of association

deed of 25-01-2023 (in French)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
“Pour moitié à charge du cédant et pour moitié à charge du ou des acquéreurs, proportionnellement au nombre d'actions acquises, tous cas de…”

Network & group

No group

Graindorge has no parent and no holdings in its annual accounts. GRAINDORGE Stéphane is the only director. Graindorge shares no director with another company.

Timeline

Timeline

46 events since 1992

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBabbreviated format · 14 days before the deadline
2025
Weakest financial year net -€69,952 The net result drops to -€69,952, the lowest from 2006 to 2025.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0446785166
Annual accounts 2024 filed PDFfull format · 58 days before the deadline
2024
Annual accounts 2023 filed PDFfull format · 43 days before the deadline
2023
Equity above €500,000 equity €526,246 ▲10.7% After 10 profitable years in a row, equity reaches €526,246.
Annual accounts 2022 filed PDFfull format · 45 days before the deadline
Amendment of the articles · Legal-form change · Resignations & appointments“La société pourra également constituer un patrimoine mobilier et immobilier, ce qui comprend notamment…” (deed in French)3 points ▸
  • 750 shares
  • Registered office clause, Quai du Halage, numéro 12/1, 4400 Flémalle
  • Purpose change, “La société pourra également constituer un patrimoine mobilier et immobilier, ce qui comprend notamment l'achat, l'échange, la vente, la prise en location et en…” (deed in French)
  • The deed holds 6 more points.

Open the deed in the Belgian Official Gazette

2022
Annual accounts 2021 filed PDFfull format · 54 days before the deadline
2021
Highest result from 2006 to 2025 net €175,424 ▲2,982% The operating result of €227,201 and the net result of €175,424 are both a record.
Equity above €200,000 equity €332,363 ▲112% After 8 profitable years in a row, equity reaches €332,363.
Annual accounts 2020 filed PDFfull format · 39 days before the deadline
2020
Annual accounts 2019 filed PDFfull format · 15 days before the deadline
2019
Equity above €150,000 equity €151,247 ▲16.3% After 6 profitable years in a row, equity reaches €151,247.
Annual accounts 2018 filed PDFmicro format · 13 days before the deadline
2018
Annual accounts 2017 filed PDFmicro format · 23 days before the deadline
2017
Annual accounts 2016 filed PDFmicro format · 17 days late
2016
Annual accounts 2015 filed PDFfull format · 29 days late
2015
Annual accounts 2014 filed PDFfull format · 8 days late
2014
Back to profit net €1,904 The net result is €1,904, after 2 loss-making years.
Annual accounts 2013 filed PDFfull format · 20 days late
2013
Annual accounts 2012 filed PDFfull format · 9 days late
2012
Annual accounts 2011 filed PDFfull format · 27 days late
2011
Annual accounts 2010 filed PDFfull format · 41 days before the deadline
2010
Back to profit net €17,823 The net result is €17,823, after one loss-making year.
Annual accounts 2009 filed PDFfull format · 27 days late
2009
Annual accounts 2008 filed PDFfull format · 27 days late
2008
Back to profit net €8,790 The net result is €8,790, after 2 loss-making years.
Annual accounts 2007 filed PDFfull format · 21 days late
2007
Annual accounts 2006 filed PDFfull format · 28 days late
2006
Annual accounts 2005 filed PDFfull format
2005
Annual accounts 2004 filed PDFfull format
2004
Annual accounts 2003 filed PDFfull format
2003
Annual accounts 2002 filed PDFfull format
2002
Annual accounts 2001 filed PDFfull format
2001
Annual accounts 2000 filed PDFfull format
2000
Annual accounts 1999 filed PDFfull format
1999
Annual accounts 1998 filed PDFfull format
1998
Annual accounts 1997 filed PDFfull format
1997
Annual accounts 1996 filed PDFfull format
1996
Annual accounts 1995 filed PDFfull format
1995
Annual accounts 1994 filed PDFfull format
1994
Annual accounts 1993 filed PDFfull format
1993
Annual accounts 1992 filed PDFfull format
1992
First establishment Quai du Halage 12, Flémalle
Incorporation published on 25-03-1992

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

Graindorge was incorporated on 4 March 1992.1 Turnover fell from €2.0m in 2019 to €1.7m in 2025 and headcount from 7 full-time equivalents in 2018 to 11.3 in 2025.2

  1. 1KBO register
  2. 2National Bank, annual accounts 2018, 2019 and 2025

Company details

Identity

Enterprise number
0446.785.166
VAT number
BE 0446.785.166
Peppol ID
0208:0446785166
Other Peppol ID
9925:BE0446785166
Legal form
Private limited company
Status
Active, normal situation
Founded
04-03-1992
Financial year
ends on 31 December
Peppol
Reachable since 03-07-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
Graindorge in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 25-01-2023 (in French)

Activities

NACEBEL 2025
VAT activities
43222 Installation of electric heating, air conditioning, cooling and ventilation main activity
28250 Manufacture of machinery and equipment not elsewhere classified
71121 Engineering and related technical consultancy, excluding land surveyors
Social security (RSZ) activities
43222 Installation of electric heating, air conditioning, cooling and ventilation main activity
Joint committees annual accounts 2025
JC 149.01 Electricians: installation and distribution
Codes under NACEBEL 2008
VAT activities
43222 Specialised construction activities main activity
28250 Manufacture of machinery and equipment not elsewhere classified
71121 Engineering activities
Social security (RSZ) activities
43222 Specialised construction activities main activity
Codes under NACEBEL 2003
VAT activities
45331 main activity
29230
Social security (RSZ) activities
45331 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“L'entreprise d'installation de ventilation et d'aération, de chauffage à air chaud, de conditionnement d'air et de tuyauterie industrielle…”
7 activities
  1. L'entreprise d'installation de ventilation et d'aération, de chauffage à air chaud, de conditionnement d'air et de tuyauterie industrielle
  2. L'entreprise de construction métallique, d'isolation thermique et acoustique
  3. Atelier de soudure
  4. Entreprise de sonorisation et d'éclairage pour disk-jockey, d'organisation de spectacles, de location de matériel de sonorisation
  5. La location d'entreposages frigorifiques
  6. La fabrication d'installations frigorifiques
  7. L'aménagement et transformation de magasins
deed of 25-01-2023 (in French)

Registered office and establishments

1 establishment
Establishment Since Unit number
Quai du Halage 12 registered office 4400 Flémalle 27-03-1992 2.056.765.729

Buildings and parcels at the address

Ground area
732 m²
Buildings
668 m²
Volume, LiDAR
9,769 m³
Tallest building
17.1 m
Buildings to scale, each on its own parcel
668 m², 17.1 m 668 m², 17.1 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
62037B0439/00F002731 m² 1 · 668 m² 17.1 m · 5

Invoicing and payment

Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0446.785.166

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