GRASSCO
ActiveThe file of GRASSCO contains 2 historical bankruptcy publications, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 3.6% (moderate). The 2024 annual accounts show negative equity (€-33k) and a net result of €-80k. Equity is shrinking by ~69.7% per year across the filed fiscal years. Its solvency ranks better than 6% of 240 sector peers (fiscal year 2024).
Checked score
Score 2024
Axes · tick = 2023
Profitability0=
Solvency4▲+4
Growth58=
Track record79
Bankruptcy probability, 12 months
3.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.85 against 0.53 in 2023; short-term debt: 112.7% and cash: 42.7% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-21.3%
Return on assets
-51.2%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 38
Relative position
BE, all sectors
reference
Waste collection, recovery and disposal activities (NACE 38)
about 10% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
222324
2022 to 2024 · latest year €-33k
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 30-07-2025, 1 day ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
1 d early
2023
15 d early
2022
233 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, abbreviated schema
Equity
€-33k▲ 70.6%
2023 · €-113k
2022: €85khighest in 3 years
2023: €-113k▼ -234% vs 2022lowest in 3 years
2024: €-33k▲ +70.6% vs 2023
2022 → 2024
Total assets
€156k▲ 8.8%
2023 · €143k
2022: €613khighest in 3 years
2023: €143k▼ -76.6% vs 2022lowest in 3 years
2024: €156k▲ +8.8% vs 2023
2022 → 2024
Net result
€-80k▲ 59.6%
2023 · €-198k
2022: €-555klowest in 3 years
2023: €-198k▲ +64.4% vs 2022
2024: €-80k▲ +59.6% vs 2023highest in 3 years
2022 → 2024
Working capital
€-26k▲ 72.9%
2023 · €-98k
2022: €47khighest in 3 years
2023: €-98k▼ -308% vs 2022lowest in 3 years
2024: €-26k▲ +72.9% vs 2023
2022 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202220232024Trend
Equity€85k-€-113k€-33k▲ 70.6%
2022: €85khighest in 3 years
2023: €-113k▼ -234% vs 2022lowest in 3 years
2024: €-33k▲ +70.6% vs 2023
Operating result€-555k-€-201k▲ 63.7%€-80k▲ 60.3%
2022: €-555klowest in 3 years
2023: €-201k▲ +63.7% vs 2022
2024: €-80k▲ +60.3% vs 2023highest in 3 years
Net result€-555k-€-198k▲ 64.4%€-80k▲ 59.6%
2022: €-555klowest in 3 years
2023: €-198k▲ +64.4% vs 2022
2024: €-80k▲ +59.6% vs 2023highest in 3 years
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €80k in 2024 against €201k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €155k
Fixed assets
€5k ▼ 83.3%
Current assets
€150k ▲ 37.0%
Key figures and ratios
EBITDA
€-77k▲
2023 · €-198k
Cash flow
€-77k▲
2023 · €-195k
Solvency
-21.3%▲
2023 · -79.0%
Current ratio
0.85▲
2023 · 0.53
Quick ratio
0.84▲
2023 · 0.52
Debt to equity
-5.69▼
2023 · -2.27
ROA
-51.2%▲
2023 · -138.0%
Interest coverage
-11703.71▲
2023 · -1321080.00
Debt
€189k▼
2023 · €257k
Debt ≤ 1 year
€176k▼
2023 · €207k
Debt > 1 year
€13k▼
2023 · €50k
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 · 2024 against 2023 · 42 lines
Balance sheet
Code20232024
Assets
Total assets20/58€143k€156k▲
Formation expenses20€2k€1k▼
Fixed assets21/28€32k€5k▼
Tangible fixed assets22/27€7k€5k▼
Plant, machinery and equipment23€7k€5k▼
Financial fixed assets28€25k€600▼
Current assets29/58€109k€150k▲
Stocks and contracts in progress3€994€994=
Stocks30/36€994€994=
Amounts receivable within one year40/41€73k€81k▲
Trade receivables40€73k€53k▼
Other amounts receivable41€50€28k▲
Cash at bank and in hand54/58€27k€67k▲
Deferred charges and accrued income490/1€8k€1k▼
Equity and liabilities
Total equity and liabilities10/49€143k€156k▲
Equity10/15€-113k€-33k▲
Contributions10/11€640k€800k▲
Profit (loss) carried forward14€-753k€-833k▼
Amounts payable17/49€257k€189k▼
Amounts payable after more than one year17€50k€13k▼
Other amounts payable178/9€50k€13k▼
Amounts payable within one year42/48€207k€176k▼
Trade debts44€151k€149k▼
Suppliers440/4€151k€149k▼
Taxes, remuneration and social security45€9k€0▼
Taxes450/3€9k€0▼
Other amounts payable47/48€48k€27k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k=
Other operating charges640/8€11k€8k▼
Non-recurring operating charges66A€0-
Gross operating margin9900€-187k€-69k▲
Operating profit (loss)9901€-201k€-80k▲
Financial income75/76B€3k€107▼
Recurring financial income75€3k€107▼
Financial charges65/66B€0€7▲
Recurring financial charges65€0€7▲
Profit (loss) for the period before taxes9903€-198k€-80k▲
Profit (loss) for the period9904€-198k€-80k▲
Profit (loss) for the period to be appropriated9905€-198k€-80k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-753k€-833k▼
Profit (loss) brought forward from the previous period14P€-555k€-753k▼
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €3k | €3k | = |
| Other operating charges640/8 | €16k | €11k | €8k | ▼ 27.6% |
| Non-recurring operating charges66A | €13k | €0 | - | - |
| Gross operating margin9900 | €-523k | €-187k | €-69k | ▲ 63.2% |
| Operating profit (loss)9901 | €-555k | €-201k | €-80k | ▲ 60.3% |
| Financial income75/76B | €0 | €3k | €107 | ▼ 97.0% |
| Recurring financial income75 | €0 | €3k | €107 | ▼ 97.0% |
| Financial charges65/66B | €563 | €0 | €7 | ▲ 4,273% |
| Recurring financial charges65 | €563 | €0 | €7 | ▲ 4,273% |
| Profit (loss) for the period before taxes9903 | €-555k | €-198k | €-80k | ▲ 59.6% |
| Profit (loss) for the period9904 | €-555k | €-198k | €-80k | ▲ 59.6% |
| Profit (loss) for the period to be appropriated9905 | €-555k | €-198k | €-80k | ▲ 59.6% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €613k | €143k | €156k | ▲ 8.8% |
| Formation expenses20 | €3k | €2k | €1k | ▼ 36.4% |
| Fixed assets21/28 | €35k | €32k | €5k | ▼ 83.3% |
| Tangible fixed assets22/27 | €10k | €7k | €5k | ▼ 34.8% |
| Plant, machinery and equipment23 | €10k | €7k | €5k | ▼ 34.8% |
| Financial fixed assets28 | €25k | €25k | €600 | ▼ 97.6% |
| Current assets29/58 | €575k | €109k | €150k | ▲ 37.0% |
| Stocks and contracts in progress3 | €293k | €994 | €994 | = |
| Stocks30/36 | €293k | €994 | €994 | = |
| Amounts receivable within one year40/41 | €254k | €73k | €81k | ▲ 10.2% |
| Trade receivables40 | €239k | €73k | €53k | ▼ 27.6% |
| Other amounts receivable41 | €15k | €50 | €28k | ▲ 55,510% |
| Cash at bank and in hand54/58 | €19k | €27k | €67k | ▲ 144% |
| Deferred charges and accrued income490/1 | €8k | €8k | €1k | ▼ 85.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €613k | €143k | €156k | ▲ 8.8% |
| Equity10/15 | €85k | €-113k | €-33k | ▲ 70.6% |
| Contributions10/11 | €640k | €640k | €800k | ▲ 25.0% |
| Profit (loss) carried forward14 | €-555k | €-753k | €-833k | ▼ 10.6% |
| Amounts payable17/49 | €528k | €257k | €189k | ▼ 26.2% |
| Amounts payable after more than one year17 | - | €50k | €13k | ▼ 73.0% |
| Other amounts payable178/9 | - | €50k | €13k | ▼ 73.0% |
| Amounts payable within one year42/48 | €528k | €207k | €176k | ▼ 15.0% |
| Trade debts44 | €523k | €151k | €149k | ▼ 1.3% |
| Suppliers440/4 | €523k | €151k | €149k | ▼ 1.3% |
| Taxes, remuneration and social security45 | - | €9k | €0 | ▼ 100% |
| Taxes450/3 | - | €9k | €0 | ▼ 100% |
| Other amounts payable47/48 | €5k | €48k | €27k | ▼ 42.9% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €-555k | €-198k | €-80k | ▲ 59.6% |
| + Depreciation and write-downs630 | €4k | €3k | €3k | = |
| Operating cash flow (approximation) | €-552k | €-195k | €-77k | ▲ 60.6% |
| Investment in fixed assets (approximation) | - | €-687 | €24k | ▲ 3,550% |
| Change in cash | - | €8k | €39k | ▲ 395% |
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
2026
16-03
Bankruptcy
Bankruptcy reversal
Ondernemingsrechtbank Gent, afdeling Gent · event 10-03-2026
2025
08-09
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 02-09-2025
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
20-03
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 233 days late
SignalNBB filing
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Merelbeke-Melle · 2 establishment units since 2021
Ground area
3.2 ha
Building footprint
1.1 ha
Volume, LiDAR
134,801 m³
2 parcels, Flanders · tallest building 14.5 m, ±4 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
2 establishment units
GRASSCO
since 20212.322.790.110
GrassCo Production
since 20222.339.940.007
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41059A0209/00H000 | Flanders | 3.0 ha | 1 · 1.1 ha | 14.5 m · 4 fl. |
| 44040D0129/00A002 | Flanders | 1,425 m² | 1 · 99 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | KLAAS KOENTGES LEIEKAAI 25, 9000 GENT- |
02-09-2025 → 10-03-2026 |
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Of 978 companies in sector 38210 we hold annual accounts for 585. 272 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
Founded02-09-2021
Fiscal year end31-12
Activities, NACEBEL 2025
38210Materials recovery from waste
38330Waste collection, recovery and disposal activities
Contact
Phone
+32473651227
Website
www.grassco.beGeraardsbergen
E-mail
info@grassco.beGeraardsbergen
Phone
0032473651227Geraardsbergen
Scores and ratios are computed by Checked and are not a credit decision.