Checked.be
Active
BE 0465.692.941Private limited company
GRAPPA
Alpenroosbaan 23 ·2900 Schoten, Belgium· 27 yrs active
Sector: Renting and leasing of other machinery, equipment and tangible goods
(77399)
Conclusion
GRAPPA has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €53k and a net result of €31k. Equity is shrinking by ~12.9% per year across the filed fiscal years. Its solvency ranks better than 22% of 891 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €53k |
| Net result | €31k |
| Staff (FTE) | 2 |
| Better than sector | 22% |
Financial profile
63
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
51
Profitability
100
Solvency
8
Growth
58
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1999, 27 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
51
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€3k
estimate, not credit advice
Score history
43
2021
51
2022
2
2023
2
2024
51
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 0.37 (< 1.0)
-10
Quick ratio
Quick ratio 0.37 (< 0.6)
-5
Leverage
Debt/equity 7.25 (> 3.0)
-10
Profitability
ROE 59% (≥ 10%)
+10
Interest coverage
Interest coverage 5.7× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Equity growth
Equity growing YoY
+3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 16-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~12.9%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 77, Rental and leasing activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 12.1% | 37.4% | |
| Net result | €31k | €19k | |
| Equity | €53k | €286k | |
| Gross operating margin | €213k | €184k | |
| Staff costs | €147k | €159k |
€64k
+1675.8%
21-25
€31k
-
21-25
€53k
-
21-25
€439k
+15.1%
21-25
€53k
+13.7%
21-25
€-111k
+4.2%
21-25
2
0.0%
21-25
€147k
+32.6%
21-25
€316
-6.0%
21-25
€386k
+15.3%
21-25
€176k
+28.1%
21-25
€194k
+6.0%
21-25
0.37
+132.5%
21-25
0.37
+132.5%
21-25
12.1%
-1.3%
21-25
7.25
+1.5%
21-25
59.0%
-
21-25
7.2%
-
21-25
5.73
+1610.8%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - | - |
| EBITDA | €64k | €4k | €11k | €86k | €43k |
| Net profit | €31k | €-20k | €-18k | €57k | €14k |
| Cash flow | €53k | €-4k | €-2k | €72k | €28k |
| Staff costs | €147k | €111k | €140k | €169k | €93k |
| Income taxes | €316 | €336 | €301 | €2k | €1k |
| Dividends | - | - | - | - | - |
| Total assets | €439k | €381k | €392k | €485k | €402k |
| Equity | €53k | €47k | €67k | €85k | €78k |
| Debt | €386k | €334k | €326k | €400k | €324k |
| of which ≤ 1y | €176k | €137k | €121k | €172k | €176k |
| of which > 1y | €194k | €183k | €191k | €216k | €138k |
| Working capital | €-111k | €-115k | €-99k | €-74k | €-143k |
| Employees (FTE) | 2.0 | 2.0 | 2.3 | 3.0 | 3.9 |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 0.37 | 0.16 | 0.18 | 0.57 | 0.19 |
| Quick ratio | 0.37 | 0.16 | 0.18 | 0.57 | 0.19 |
| Working capital ratio | -25.2% | -30.3% | -25.3% | -15.3% | -35.6% |
| Solvency | 12.1% | 12.3% | 17.0% | 17.5% | 19.5% |
| Debt / equity | 7.25 | 7.15 | 4.88 | 4.72 | 4.14 |
| Long-term debt ratio | 3.64 | 3.91 | 2.87 | 2.55 | 1.76 |
| Interest coverage | 5.73 | 0.33 | 0.86 | 7.11 | 3.16 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 7.2% | -5.2% | -4.6% | 11.7% | 3.4% |
| ROE | 59.0% | -42.5% | -27.1% | 66.8% | 17.4% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €439k | €381k | €392k | €485k | €402k |
| Fixed assets | 21/28 | €373k | €359k | €370k | €386k | €369k |
| Intangible fixed assets | 21 | €369 | - | - | - | - |
| Tangible fixed assets | 22/27 | €372k | €358k | €370k | €386k | €368k |
| Financial fixed assets | 28 | €800 | €800 | €800 | €800 | €800 |
| Current assets | 29/58 | €66k | €22k | €22k | €98k | €33k |
| Amounts receivable within one year | 40/41 | €18k | €20k | €18k | €92k | €30k |
| Cash & bank | 54/58 | €43k | €140 | €1k | €4k | €1k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €439k | €381k | €392k | €485k | €402k |
| Equity | 10/15 | €53k | €47k | €67k | €85k | €78k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €35k | €2k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €0 | €26k | €46k | €64k | €58k |
| Amounts payable | 17/49 | €386k | €334k | €326k | €400k | €324k |
| Amounts payable after one year | 17 | €194k | €183k | €191k | €216k | €138k |
| Amounts payable within one year | 42/48 | €176k | €137k | €121k | €172k | €176k |
| Trade debts payable within one year | 44 | €22k | €4k | €22k | €21k | €36k |
| Income statement | ||||||
| Gross operating margin | 9900 | €213k | €120k | €157k | €256k | €137k |
| Operating result | 9901 | €43k | €-12k | €-5k | €70k | €28k |
| Financial income | 75 | €9 | €4k | €54 | €279 | - |
| Financial charges | 65 | €11k | €11k | €13k | €12k | €14k |
| Result before taxes | 9903 | €32k | €-20k | €-18k | €59k | €15k |
| Income taxes | 67/77 | €316 | €336 | €301 | €2k | €1k |
| Net result for the period | 9904 | €31k | €-20k | €-18k | €57k | €14k |
| Result to be appropriated | 9905 | €31k | €-20k | €-18k | €57k | €14k |
Directors & mandates
Directors derived from a single State Gazette act, under verification
All 3 current directors first appear in the same act (24402910). Founders or capital subscribers may have been counted as directors here; the real board composition is being verified.
Current directors & mandates
-
LONESOME COWBOY BVLegal entityStatutair bestuurderState Gazette act 24402910 (05-06-2024)Current05-06-2024 → present
-
Luc WYNSVast vertegenwoordiger van lonesome cowboy bvState Gazette act 24402910 (05-06-2024)Current05-06-2024 → present
-
WYNS JonasPlaatsvervangend (statutair) bestuurderState Gazette act 24402910 (05-06-2024)Current05-06-2024 → present
Legal Structure
| NACE primary | Renting and leasing of other machinery, equipment and tangible goods(77399) |
| Legal form | Private limited company(610) |
| Incorporation | 23-03-1999 |
| Status | Active |
| Postal code | 2900 |
Establishment units
GRAPPA / Diamond City Records/The Greenroom
since 19992.090.958.031
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11040A0032/00V076 | Flanders | 3,111 m² | 1 · 488 m² | 8.0 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €31k
Net result €31k after 2 loss-making years.
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-20k
Net result drops to €-20k, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
05-06
State Gazette act
Director changes
v3.2
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2021net €57k ▲317%
Operating result €70k, net result €57k, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 1
updated 2 years ago
2024
05-06-2024 3 directors appointed
- LONESOME COWBOY BV, Statutair bestuurder
- Luc WYNS, Vast vertegenwoordiger van lonesome cowboy bv
- WYNS Jonas, Plaatsvervangend (statutair) bestuurder
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_in",
"role": "statutair bestuurder",
"person": {
"rrn": null,
"name": "LONESOME COWBOY BV",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "vast vertegenwoordiger van LONESOME COWBOY BV",
"person": {
"rrn": null,
"name": "Luc WYNS",
"address": null,
"birth_date": null
}
},
{
"kind": "director_in",
"role": "plaatsvervangend (statutair) bestuurder",
"person": {
"rrn": null,
"name": "WYNS Jonas",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0465.692.941",
"name_full": "GRAPPA"
}
}Credit advice
Company registry (CBE)
Activities
Video and film production, excluding cinema and television films59113Renting and leasing of other machinery, equipment and tangible goods773999211371340
Names & trade names
| Legal nameNL | GRAPPA |
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