GRAMO
ActiveSummary
GRAMO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €27.1m and a net result of €3.6m. Equity is growing by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 95% of 9619 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability83▲+39
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity short (current ratio 0.68 against 0.32 in 2023; short-term debt: 10.5% and cash: 1% of total assets), and 11.4% of the assets are financed with debt.
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Signals
Four 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more 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 2024Solvency, return and age of the figures
Solvency
88.6%
Return on assets
11.7%
Age of the figures
21 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-06-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d early
2023
23 d early
2022
34 d early
2021
37 d early
2020
23 d early
2019
32 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 31 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
In the rankings
#4 company by equity in Roeselare, Wholesale and retail trade sector#8 company by total assets in Roeselare, Wholesale and retail trade sector
Equity
€27.1m▲ 15.1%
2023 · €23.5m
Total assets
€30.6m▲ 1.4%
2023 · €30.2m
Net result
€3.6m▼ 35.8%
2023 · €5.6m
Working capital
-€1.0m▲ 73.2%
2023 · -€3.8m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20202021202220232024
Operating result€686,604▼ 1.5%€461,855▼ 32.7%€566,785▲ 22.7%€224,957▼ 60.3%€3.1m▲ 1,267%
Net result€20,643within the sector's middle half▼ 98.2%€981,410above the sector's middle half▲ 4,654%€910,989above the sector's middle half▼ 7.2%€5.6mabove the sector's middle half▲ 510%€3.6mabove the sector's middle half▼ 35.8%
Equity€16.1mabove the sector's middle half▲ 0.1%€17.1mabove the sector's middle half▲ 6.1%€18.0mabove the sector's middle half▲ 5.3%€23.5mabove the sector's middle half▲ 30.9%€27.1mabove the sector's middle half▲ 15.1%
Total assets€55.8mabove the sector's middle half▲ 0.7%€56.2mabove the sector's middle half▲ 0.8%€58.1mabove the sector's middle half▲ 3.3%€30.2mabove the sector's middle half▼ 48.1%€30.6mabove the sector's middle half▲ 1.4%
Debt€39.7m▲ 0.9%€39.2m▼ 1.4%€40.1m▲ 2.5%€6.6m▼ 83.5%€3.5m▼ 47.5%
Working capital-€27.7m▲ 0.2%-€27.9m▼ 0.8%-€27.1m▲ 3.0%-€3.8m▲ 86.0%-€1.0m▲ 73.2%
Solvency28.8%within the sector's middle half▼ 0.2pp30.4%within the sector's middle half▲ 1.5pp31.0%within the sector's middle half▲ 0.6pp78.0%above the sector's middle half▲ 47.1pp88.6%above the sector's middle half▲ 10.6pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 1,267% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €30.6m
Fixed assets
€28.4m =
Current assets
€2.2m ▲ 23.4%
Equity and liabilities €30.6m
Equity
€27.1m ▲ 15.1%
Debt
€3.5m ▼ 47.5%
Debt's share of the balance-sheet total falls from 22.0% to 11.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3.1m▲
2023 · €225,700
Cash flow
€3.6m▼
2023 · €5.6m
Current ratio
0.68▲
2023 · 0.32
Debt to equity
0.13▼
2023 · 0.28
ROE
13.2%▼
2023 · 23.6%
ROA
11.7%▼
2023 · 18.4%
Interest coverage
11.35▲
2023 · 0.21
Debt ≤ 1 year
€3.2m▼
2023 · €5.6m
Income taxes
€161,942
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €51 | €563 | €742 | €822 | ▲ 10.8% |
| Other operating charges640/8 | - | €111 | €112 | €247 | €241 | ▼ 2.3% |
| Non-recurring operating charges66A | - | - | €1,174 | €0 | - | - |
| Gross operating margin9900 | €686,713 | €462,017 | €568,635 | €225,946 | €3.1m | ▲ 1,261% |
| Operating profit (loss)9901 | €686,604 | €461,855 | €566,785 | €224,957 | €3.1m | ▲ 1,267% |
| Financial income75/76B | - | €1.2m | €1.4m | €6.4m | €923,394 | ▼ 85.6% |
| Recurring financial income75 | €3,194 | €1.2m | €1.4m | €6.4m | €923,394 | ▼ 85.6% |
| Financial charges65/66B | - | €705,530 | €1.1m | €1.1m | €271,042 | ▼ 74.8% |
| Recurring financial charges65 | €669,155 | €705,530 | €1.1m | €1.1m | €271,042 | ▼ 74.8% |
| Profit (loss) for the period before taxes9903 | €20,643 | €981,410 | €910,989 | €5.6m | €3.7m | ▼ 32.9% |
| Income taxes67/77 | - | - | - | - | €161,942 | - |
| Profit (loss) for the period9904 | €20,643 | €981,410 | €910,989 | €5.6m | €3.6m | ▼ 35.8% |
| Profit (loss) for the period to be appropriated9905 | €20,643 | €981,410 | €910,989 | €5.6m | €3.6m | ▼ 35.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €55.8m | €56.2m | €58.1m | €30.2m | €30.6m | ▲ 1.4% |
| Fixed assets21/28 | €53.2m | €53.5m | €54.1m | €28.4m | €28.4m | = |
| Tangible fixed assets22/27 | - | €1,714 | €1,483 | €2,340 | €1,518 | ▼ 35.1% |
| Plant, machinery and equipment23 | - | - | - | €1,360 | €1,040 | ▼ 23.5% |
| Furniture and vehicles24 | - | €1,714 | €1,483 | €981 | €478 | ▼ 51.2% |
| Financial fixed assets28 | €53.2m | €53.5m | €54.1m | €28.4m | €28.4m | = |
| Current assets29/58 | €2.6m | €2.7m | €4.1m | €1.8m | €2.2m | ▲ 23.4% |
| Amounts receivable within one year40/41 | €972,315 | €537,060 | €75,348 | €1.3m | €459,233 | ▼ 63.8% |
| Trade receivables40 | - | €277,559 | €25,410 | €41,140 | €83,255 | ▲ 102% |
| Other amounts receivable41 | - | €259,501 | €49,938 | €1.2m | €375,978 | ▼ 69.4% |
| Current investments50/53 | - | - | - | - | €1.4m | - |
| Cash at bank and in hand54/58 | €1.6m | €2.2m | €4.0m | €507,954 | €311,367 | ▼ 38.7% |
| Deferred charges and accrued income490/1 | - | - | - | €1,061 | €24,510 | ▲ 2,211% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €55.8m | €56.2m | €58.1m | €30.2m | €30.6m | ▲ 1.4% |
| Equity10/15 | €16.1m | €17.1m | €18.0m | €23.5m | €27.1m | ▲ 15.1% |
| Contributions10/11 | - | €12.0m | €12.0m | €12.0m | €12.0m | = |
| Reserves13 | €4.1m | €5.1m | €6.0m | €11.5m | €15.1m | ▲ 30.9% |
| Non-distributable reserves130/1 | - | €202,845 | €248,395 | €0 | - | - |
| Reserves not available under the articles1311 | - | €202,845 | €248,395 | €0 | - | - |
| Distributable reserves133 | - | €4.9m | €5.7m | €11.5m | €15.1m | ▲ 30.9% |
| Amounts payable17/49 | €39.7m | €39.2m | €40.1m | €6.6m | €3.5m | ▼ 47.5% |
| Amounts payable after more than one year17 | €8.9m | €8.0m | €8.0m | €0 | - | - |
| Financial debts170/4 | - | €8.0m | €8.0m | €0 | - | - |
| Amounts payable within one year42/48 | €30.3m | €30.6m | €31.1m | €5.6m | €3.2m | ▼ 42.4% |
| Current portion of amounts payable after more than one year42 | - | €0 | - | - | - | - |
| Trade debts44 | €57,790 | €57,398 | €51,388 | €151,490 | €82,075 | ▼ 45.8% |
| Suppliers440/4 | - | €57,398 | €51,388 | €151,490 | €82,075 | ▼ 45.8% |
| Taxes, remuneration and social security45 | - | €19,453 | €4,018 | €2,477 | €7,115 | ▲ 187% |
| Taxes450/3 | - | €19,453 | €4,018 | €2,477 | €7,115 | ▲ 187% |
| Other amounts payable47/48 | - | €30.5m | €31.1m | €5.4m | €3.1m | ▼ 42.4% |
| Accrued charges and deferred income492/3 | - | €549,364 | €994,442 | €1.1m | €269,085 | ▼ 74.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,643 | €981,410 | €910,989 | €5.6m | €3.6m | ▼ 35.8% |
| + Depreciation and write-downs630 | - | €51 | €563 | €742 | €822 | ▲ 10.8% |
| Operating cash flow (approximation) | €20,643 | €981,461 | €911,552 | €5.6m | €3.6m | ▼ 35.8% |
| Investment in fixed assets (approximation) | - | -€320,033 | -€532,272 | €25.7m | €0 | ▼ 100% |
| Change in cash | - | €554,525 | €1.8m | -€3.5m | -€196,587 | ▲ 94.3% |
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
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Equity above €25mEq €27.1m ▲15.1%
7 profitable years in a row build equity to €27.1m.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €5.6m ▲510%
Net result €5.6m, the highest in the series.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €20,643 ▼98.2%
Net result drops to €20,643, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
22-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 22 days late
2018
26-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
25-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
27-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Roeselare · 1 establishment unit since 2008
Ground area
3,352 m²
Building footprint
257 m²
Volume, LiDAR
1,835 m³
Parcel 36505C0985/00H000, Flanders · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
GRAMO
since 20082.175.072.075
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36505C0985/00H000 | Flanders | 3,352 m² | 1 · 257 m² | 10.2 m · 3 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 2
-
50%
-
7.61%
According to the 2024 annual accounts of GRAMO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
9676003TEUHAW538SS90
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Of 1,719 companies in sector 47521 we hold annual accounts for 1,288. 142 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
Founded11-12-2008
Fiscal year end31-12
Activities, NACEBEL 2025
47521Retail sale of hardware, building materials, paint and glass (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0808448676
Also
9925:BE0808448676
Registered
15-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.