GRAMACO
ActiveSummary
GRAMACO has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.3m and a net result of €66,720. Equity is growing by ~7.7% per year across the filed fiscal years. Its solvency ranks better than 66% of 286 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability73▲+3
Solvency83▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100,000 at 30 days acceptable
Liquidity ample (current ratio 2.56 against 2.06 in 2024; short-term debt: 27.5% and cash: 14.1% of total assets), and 41.6% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
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
58.4%
Return on assets
3%
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 23
Relative position
BE, all sectors
reference
Manufacture of other non-metallic mineral products (NACE 23)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
29 d late
2023
29 d late
2022
17 d late
2021
6 d early
2020
46 d late
2019
20 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 23 days after the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 34% 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file What other support did companies like this one receive, and it did not?Subsidy mirror How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€2.5m
EBIT margin
11.1%
Net result
€66,720▲ 364%
2024 · €14,388
Working capital
€941,472▲ 33.0%
2024 · €707,752
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€138,001▼ 43.2%€157,733▲ 14.3%€59,408▼ 62.3%€33,554▼ 43.5%€102,638▲ 206%
Net result€87,150▼ 59.4%€95,942▲ 10.1%€20,091▼ 79.1%€14,388▼ 28.4%€66,720▲ 364%
EBIT margin
Equity€1.1m▲ 8.8%€1.2m▲ 8.9%€1.2m▲ 1.7%€1.2m▲ 1.2%€1.3m▲ 5.5%
Total assets€2.9m▲ 7.8%€2.9m▲ 1.8%€2.5m▼ 14.1%€2.2m▼ 11.7%€2.2m▼ 1.3%
Debt€1.8m▲ 7.3%€1.8m▼ 2.5%€1.3m▼ 24.8%€1.0m▼ 23.5%€913,131▼ 9.5%
Working capital€634,390▲ 24.9%€722,827▲ 13.9%€610,841▼ 15.5%€707,752▲ 15.9%€941,472▲ 33.0%
Staff (FTE)8.6▲ 4.9%9.2▲ 7.0%10.7▲ 16.3%11.6▲ 8.4%12.4▲ 6.9%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 206% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€647,979 ▼ 23.6%
Current assets
€1.5m ▲ 12.5%
Equity and liabilities €2.2m
Equity
€1.3m ▲ 5.5%
Debt
€913,131 ▼ 9.5%
Debt's share of the balance-sheet total falls from 45.4% to 41.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€315,074▲
2024 · €274,895
Cash flow
€279,156▲
2024 · €255,728
Current ratio
2.56▲
2024 · 2.06
Quick ratio
1.80▲
2024 · 1.32
Debt to equity
0.71▼
2024 · 0.83
ROE
5.2%▲
2024 · 1.2%
ROA
3.0%▲
2024 · 0.6%
Interest coverage
61.31▲
2024 · 21.02
Debt ≤ 1 year
€603,033▼
2024 · €665,711
Debt > 1 year
€220,310▼
2024 · €285,639
Income taxes
€38,627▲
2024 · €18,467
Staff costs
€834,593▲
2024 · €743,997
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €487,890 | €582,823 | €693,115 | €743,997 | €834,593 | ▲ 12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €247,457 | €335,173 | €269,359 | €241,340 | €212,436 | ▼ 12.0% |
| Other operating charges640/8 | €26,034 | €22,604 | €29,253 | €26,456 | €24,646 | ▼ 6.8% |
| Non-recurring operating charges66A | - | - | - | - | €3,938 | - |
| Gross operating margin9900 | €899,382 | €1.1m | €1.1m | €1.0m | €1.2m | ▲ 12.7% |
| Operating profit (loss)9901 | €138,001 | €157,733 | €59,408 | €33,554 | €102,638 | ▲ 206% |
| Financial income75/76B | €3,667 | €3,078 | €1,548 | €12,378 | €7,849 | ▼ 36.6% |
| Recurring financial income75 | €3,667 | €3,078 | €1,548 | €12,378 | €7,849 | ▼ 36.6% |
| Financial charges65/66B | €33,978 | €28,844 | €16,190 | €13,077 | €5,139 | ▼ 60.7% |
| Recurring financial charges65 | €33,978 | €25,295 | €16,190 | €13,077 | €5,139 | ▼ 60.7% |
| Non-recurring financial charges66B | - | €3,549 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €107,691 | €131,967 | €44,766 | €32,855 | €105,347 | ▲ 221% |
| Income taxes67/77 | €20,541 | €36,025 | €24,675 | €18,467 | €38,627 | ▲ 109% |
| Profit (loss) for the period9904 | €87,150 | €95,942 | €20,091 | €14,388 | €66,720 | ▲ 364% |
| Transfer from tax-exempt reserves789 | €13,813 | €13,813 | €13,813 | €13,813 | €13,813 | = |
| Profit (loss) for the period to be appropriated9905 | €100,963 | €109,756 | €33,904 | €28,201 | €80,533 | ▲ 186% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.9m | €2.9m | €2.5m | €2.2m | €2.2m | ▼ 1.3% |
| Fixed assets21/28 | €1.5m | €1.2m | €1.1m | €847,643 | €647,979 | ▼ 23.6% |
| Intangible fixed assets21 | €876 | - | - | - | - | - |
| Tangible fixed assets22/27 | €1.5m | €1.2m | €1.1m | €847,643 | €647,979 | ▼ 23.6% |
| Land and buildings22 | €932,740 | €809,077 | €722,507 | €657,463 | €561,927 | ▼ 14.5% |
| Plant, machinery and equipment23 | €488,235 | €346,110 | €256,915 | €139,918 | €52,277 | ▼ 62.6% |
| Furniture and vehicles24 | €49,173 | €75,351 | €72,461 | €50,262 | €33,774 | ▼ 32.8% |
| Current assets29/58 | €1.4m | €1.7m | €1.5m | €1.4m | €1.5m | ▲ 12.5% |
| Stocks and contracts in progress3 | €401,963 | €519,678 | €535,860 | €491,829 | €460,788 | ▼ 6.3% |
| Stocks30/36 | €401,963 | €519,678 | €535,860 | €491,829 | €460,788 | ▼ 6.3% |
| Amounts receivable within one year40/41 | €697,131 | €789,129 | €753,820 | €701,947 | €721,649 | ▲ 2.8% |
| Trade receivables40 | €616,052 | €652,412 | €612,670 | €656,077 | €672,235 | ▲ 2.5% |
| Other amounts receivable41 | €81,078 | €136,717 | €141,150 | €45,870 | €49,414 | ▲ 7.7% |
| Current investments50/53 | - | - | - | €25,172 | €25,172 | = |
| Cash at bank and in hand54/58 | €295,507 | €370,571 | €148,955 | €123,921 | €308,400 | ▲ 149% |
| Deferred charges and accrued income490/1 | €12,681 | €19,265 | €25,294 | €30,595 | €28,497 | ▼ 6.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.9m | €2.9m | €2.5m | €2.2m | €2.2m | ▼ 1.3% |
| Equity10/15 | €1.1m | €1.2m | €1.2m | €1.2m | €1.3m | ▲ 5.5% |
| Contributions10/11 | €420,206 | €420,206 | €420,206 | €420,206 | €420,206 | = |
| Capital10 | €420,206 | €420,206 | €420,206 | €420,206 | €420,206 | = |
| Issued capital100 | €420,206 | €420,206 | €420,206 | €420,206 | €420,206 | = |
| Reserves13 | €459,318 | €445,505 | €431,692 | €417,878 | €404,065 | ▼ 3.3% |
| Non-distributable reserves130/1 | €42,021 | €42,021 | €42,021 | €42,021 | €42,021 | = |
| Legal reserve130 | €42,021 | €42,021 | €42,021 | €42,021 | €42,021 | = |
| Tax-exempt reserves132 | €82,879 | €69,066 | €55,253 | €41,440 | €27,627 | ▼ 33.3% |
| Distributable reserves133 | €334,418 | €334,418 | €334,418 | €334,418 | €334,418 | = |
| Profit (loss) carried forward14 | €202,689 | €312,445 | €346,349 | €374,550 | €455,083 | ▲ 21.5% |
| Amounts payable17/49 | €1.8m | €1.8m | €1.3m | €1.0m | €913,131 | ▼ 9.5% |
| Amounts payable after more than one year17 | €970,499 | €717,360 | €403,532 | €285,639 | €220,310 | ▼ 22.9% |
| Financial debts170/4 | €970,499 | €717,360 | €403,532 | €285,639 | €220,310 | ▼ 22.9% |
| Amounts payable within one year42/48 | €772,893 | €975,815 | €853,087 | €665,711 | €603,033 | ▼ 9.4% |
| Current portion of amounts payable after more than one year42 | €251,237 | €275,350 | €183,271 | €121,010 | €50,328 | ▼ 58.4% |
| Trade debts44 | €515,992 | €639,514 | €625,595 | €486,527 | €443,759 | ▼ 8.8% |
| Suppliers440/4 | €515,992 | €639,514 | €625,595 | €486,527 | €443,759 | ▼ 8.8% |
| Taxes, remuneration and social security45 | €3,174 | €56,380 | €33,335 | €24,782 | €77,303 | ▲ 212% |
| Taxes450/3 | €529 | €16,004 | €10,347 | €472 | €21,929 | ▲ 4,546% |
| Remuneration and social security454/9 | €2,645 | €40,377 | €22,987 | €24,310 | €55,373 | ▲ 128% |
| Other amounts payable47/48 | €2,490 | €4,571 | €10,886 | €33,391 | €31,643 | ▼ 5.2% |
| Accrued charges and deferred income492/3 | €52,700 | €57,850 | €60,946 | €57,122 | €89,787 | ▲ 57.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €87,150 | €95,942 | €20,091 | €14,388 | €66,720 | ▲ 364% |
| + Depreciation and write-downs630 | €247,457 | €335,173 | €269,359 | €241,340 | €212,436 | ▼ 12.0% |
| Operating cash flow (approximation) | €334,607 | €431,115 | €289,450 | €255,728 | €279,156 | ▲ 9.2% |
| Investment in fixed assets (approximation) | - | -€94,689 | -€90,703 | -€37,101 | -€12,772 | ▲ 65.6% |
| Change in cash | - | €75,064 | -€221,616 | -€25,035 | €184,480 | ▲ 837% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 26 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet €14,388 ▼28.4%
Net result drops to €14,388, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 29 days late
2023
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 17 days late
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1mEq €1.1m ▲8.8%
4 profitable years in a row build equity to €1.1m.
15-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 46 days late
2020
20-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 20 days late
2019
31-12
Financial
Highest result since 2018net €238,513 ▲82%
Operating result €275,474, net result €238,513, both a record.
24-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Londerzeel · 1 establishment unit since 2001
Ground area
7,278 m²
Building footprint
2,981 m²
Volume, LiDAR
16,547 m³
Parcel 23045D0161/00C000, Flanders · tallest building 6.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Autostrade 50, 1840 Londerzeel
since 20012.100.261.816
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23045D0161/00C000 | Flanders | 7,278 m² | 1 · 2,981 m² | 6.5 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 · 3,192 EUR awarded · 3,192 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 3,192 EUR | 3,192 EUR |
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Of 737 companies in sector 23700 we hold annual accounts for 489. 329 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded09-02-2001
Fiscal year end31-12
Activities, NACEBEL 2025
23700Cutting, shaping and finishing of stone
43331Floor and wall tiling
Scores and ratios are computed by Checked and are not a credit decision.