GRAVE MICHAEL
ActiveSummary
GRAVE MICHAEL has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €203,043 and a net result of €26,060. Equity is growing by ~21.7% per year across the filed fiscal years. Its solvency ranks better than 37% of 36378 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability74▼-11
Solvency61▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.3 against 1.01 in 2023; short-term debt: 22% and cash: 3.8% of total assets), and 64.5% 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+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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
35.5%
Return on assets
4.6%
Age of the figures
24 mo
raises risk · Annual accounts not filed
The financial year that closed on 30-09-2025 was due at the National Bank by 30-04-2026. Nothing is on record, 153 days later.
NBB · 10 filingsPosition against the passed deadline
30-09-2025 close30-04-2026 deadline30-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 29-04-2025, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
1 d early
2023
4 d early
2022
2 d early
2021
202 d late
2020
30 d early
2019
18 d late
← 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 after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2024, micro schema
Equity
€203,043▲ 14.7%
2023 · €176,984
Total assets
€571,885▼ 13.8%
2023 · €663,253
Net result
€26,060▼ 69.1%
2023 · €84,209
Working capital
€38,130▲ 1,135%
2023 · €3,087
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€41,139▲ 13.0%€41,913▲ 1.9%€54,994▲ 31.2%€125,187▲ 128%€67,404▼ 46.2%
Net result€14,909within the sector's middle half▼ 4.1%€19,669within the sector's middle half▲ 31.9%€27,428within the sector's middle half▲ 39.4%€84,209above the sector's middle half▲ 207%€26,060within the sector's middle half▼ 69.1%
Equity€90,678within the sector's middle half▲ 13.7%€110,347within the sector's middle half▲ 21.7%€137,774within the sector's middle half▲ 24.9%€176,984above the sector's middle half▲ 28.5%€203,043above the sector's middle half▲ 14.7%
Total assets€529,363above the sector's middle half▼ 4.1%€571,153above the sector's middle half▲ 7.9%€520,110within the sector's middle half▼ 8.9%€663,253above the sector's middle half▲ 27.5%€571,885above the sector's middle half▼ 13.8%
Debt€438,685▼ 7.1%€460,807▲ 5.0%€382,335▼ 17.0%€486,270▲ 27.2%€368,842▼ 24.1%
Working capital€12,144within the sector's middle half€16,935within the sector's middle half▲ 39.5%€32,903below the sector's middle half▲ 94.3%€3,087below the sector's middle half▼ 90.6%€38,130within the sector's middle half▲ 1,135%
Solvency17.1%below the sector's middle half▲ 2.7pp19.3%below the sector's middle half▲ 2.2pp26.5%within the sector's middle half▲ 7.2pp26.7%within the sector's middle half▲ 0.2pp35.5%within the sector's middle half▲ 8.8pp
Current ratio1.08below the sector's middle half▲ 0.121.08below the sector's middle half=1.21within the sector's middle half▲ 0.131.01below the sector's middle half▼ 0.201.30within the sector's middle half▲ 0.29
Return on assets (ROA)2.8%within the sector's middle half=3.4%within the sector's middle half▲ 0.6pp5.3%within the sector's middle half▲ 1.8pp12.7%within the sector's middle half▲ 7.4pp4.6%within the sector's middle half▼ 8.1pp
Staff (FTE)2within the sector's middle half=2=2.3within the sector's middle half▲ 15.0%1▼ 56.5%1.5▲ 50.0%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 46% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €571,885
Fixed assets
€408,184 ▼ 8.7%
Current assets
€163,701 ▼ 24.2%
Equity and liabilities €571,885
Equity
€203,043 ▲ 14.7%
Debt
€368,842 ▼ 24.1%
Debt's share of the balance-sheet total falls from 73.3% to 64.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€119,085▼
2023 · €155,754
Cash flow
€77,741▼
2023 · €114,776
Quick ratio
0.67▲
2023 · 0.66
Debt to equity
1.82▼
2023 · 2.75
ROE
12.8%▼
2023 · 47.6%
Interest coverage
8.15▼
2023 · 11.24
Debt ≤ 1 year
€125,571▼
2023 · €212,912
Debt > 1 year
€243,271▼
2023 · €273,358
Income taxes
€26,780▼
2023 · €30,740
Staff costs
€68,757▼
2023 · €71,948
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.7%
went bankrupt
4.0%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 1.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 10,905 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €24,000 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | €96,844 | €90,765 | €71,948 | €68,757 | ▼ 4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,038 | €29,847 | €25,736 | €30,567 | €51,681 | ▲ 69.1% |
| Other operating charges640/8 | - | €3,439 | €3,452 | €2,591 | €10,548 | ▲ 307% |
| Gross operating margin9900 | €177,910 | €172,043 | €174,947 | €230,294 | €198,390 | ▼ 13.9% |
| Operating profit (loss)9901 | €41,139 | €41,913 | €54,994 | €125,187 | €67,404 | ▼ 46.2% |
| Financial income75/76B | - | €0 | €55 | €3,622 | €47 | ▼ 98.7% |
| Recurring financial income75 | €407 | €0 | €55 | €3,622 | €47 | ▼ 98.7% |
| Financial charges65/66B | - | €15,445 | €15,515 | €13,860 | €14,610 | ▲ 5.4% |
| Recurring financial charges65 | €21,305 | €15,445 | €15,515 | €13,860 | €14,610 | ▲ 5.4% |
| Profit (loss) for the period before taxes9903 | €20,241 | €26,468 | €39,534 | €114,949 | €52,840 | ▼ 54.0% |
| Income taxes67/77 | €5,331 | €6,799 | €12,106 | €30,740 | €26,780 | ▼ 12.9% |
| Profit (loss) for the period9904 | €14,909 | €19,669 | €27,428 | €84,209 | €26,060 | ▼ 69.1% |
| Transfer from tax-exempt reserves789 | - | €4,500 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €14,909 | €24,169 | €27,428 | €84,209 | €26,060 | ▼ 69.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €529,363 | €571,153 | €520,110 | €663,253 | €571,885 | ▼ 13.8% |
| Fixed assets21/28 | €370,625 | €353,315 | €331,356 | €447,254 | €408,184 | ▼ 8.7% |
| Intangible fixed assets21 | - | €1,757 | €1,095 | €433 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €370,625 | €351,559 | €330,261 | €446,820 | €408,184 | ▼ 8.6% |
| Land and buildings22 | - | €336,133 | €322,242 | €322,316 | €304,055 | ▼ 5.7% |
| Plant, machinery and equipment23 | - | €2,072 | €1,470 | €868 | €550 | ▼ 36.6% |
| Furniture and vehicles24 | - | €9,772 | €6,548 | €123,635 | €103,579 | ▼ 16.2% |
| Leasing and similar rights25 | - | €3,582 | €0 | - | - | - |
| Current assets29/58 | €158,738 | €217,838 | €188,754 | €216,000 | €163,701 | ▼ 24.2% |
| Stocks and contracts in progress3 | €3,885 | €52,875 | €51,463 | €74,587 | €80,002 | ▲ 7.3% |
| Stocks30/36 | - | €12,875 | €12,875 | €12,875 | €12,875 | = |
| Contracts in progress37 | - | €40,000 | €38,588 | €61,712 | €67,127 | ▲ 8.8% |
| Amounts receivable within one year40/41 | €133,143 | €147,704 | €116,889 | €75,346 | €53,366 | ▼ 29.2% |
| Trade receivables40 | - | €136,429 | €84,842 | €29,929 | €33,575 | ▲ 12.2% |
| Other amounts receivable41 | - | €11,275 | €32,047 | €45,418 | €19,792 | ▼ 56.4% |
| Cash at bank and in hand54/58 | €20,249 | €17,259 | €18,585 | €62,861 | €21,681 | ▼ 65.5% |
| Deferred charges and accrued income490/1 | - | €0 | €1,818 | €3,205 | €8,651 | ▲ 170% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €529,363 | €571,153 | €520,110 | €663,253 | €571,885 | ▼ 13.8% |
| Equity10/15 | €90,678 | €110,347 | €137,774 | €176,984 | €203,043 | ▲ 14.7% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €72,078 | €91,747 | €119,174 | €158,384 | €184,443 | ▲ 16.5% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €89,887 | €117,314 | €156,524 | €182,583 | ▲ 16.6% |
| Profit (loss) carried forward14 | - | €0 | - | €0 | €0 | - |
| Amounts payable17/49 | €438,685 | €460,807 | €382,335 | €486,270 | €368,842 | ▼ 24.1% |
| Amounts payable after more than one year17 | €292,091 | €259,904 | €226,484 | €273,358 | €243,271 | ▼ 11.0% |
| Financial debts170/4 | - | €259,904 | €226,484 | €273,358 | €243,271 | ▼ 11.0% |
| Amounts payable within one year42/48 | €146,595 | €200,903 | €155,852 | €212,912 | €125,571 | ▼ 41.0% |
| Current portion of amounts payable after more than one year42 | - | €31,773 | €33,420 | €48,475 | €49,307 | ▲ 1.7% |
| Trade debts44 | €90,769 | €140,642 | €83,081 | €81,155 | €51,249 | ▼ 36.9% |
| Suppliers440/4 | - | €140,642 | €83,081 | €81,155 | €51,249 | ▼ 36.9% |
| Taxes, remuneration and social security45 | - | €13,363 | €25,787 | €35,963 | €20,692 | ▼ 42.5% |
| Taxes450/3 | - | €9,629 | €21,905 | €28,679 | €8,442 | ▼ 70.6% |
| Remuneration and social security454/9 | - | €3,734 | €3,881 | €7,285 | €12,250 | ▲ 68.2% |
| Other amounts payable47/48 | - | €15,125 | €13,563 | €47,319 | €4,324 | ▼ 90.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,909 | €19,669 | €27,428 | €84,209 | €26,060 | ▼ 69.1% |
| + Depreciation and write-downs630 | €40,038 | €29,847 | €25,736 | €30,567 | €51,681 | ▲ 69.1% |
| Operating cash flow (approximation) | €54,948 | €49,516 | €53,163 | €114,776 | €77,741 | ▼ 32.3% |
| Investment in fixed assets (approximation) | - | -€12,537 | -€3,776 | -€146,465 | -€12,612 | ▲ 91.4% |
| Change in cash | - | -€2,989 | €1,326 | €44,276 | -€41,180 | ▼ 193% |
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
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Equity above €200,000Eq €203,043 ▲14.7%
7 profitable years in a row build equity to €203,043.
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2018net €84,209 ▲207%
Operating result €125,187, net result €84,209, both a record.
30-09
Financial
Equity above €150,000Eq €176,984 ▲28.5%
6 profitable years in a row build equity to €176,984.
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
18-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 202 days late
2021
30-09
Financial
Equity above €100,000Eq €110,347 ▲21.7%
4 profitable years in a row build equity to €110,347.
31-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
18-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 18 days late
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 4 days late
2017
07-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
15-04
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 2 acts read
About the unread acts
We know of 2 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
2 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, Zonnebeke · 1 establishment unit since 2009
Ground area
2,894 m²
Building footprint
185 m²
Volume, LiDAR
850 m³
Parcel 33037D0840/00C000, Flanders · tallest building 7.7 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
GRAVE MICHAEL
since 20092.179.641.072
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33037D0840/00C000 | Flanders | 2,894 m² | 1 · 185 m² | 7.7 m · 1 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
2024 to 2025 · 2 entries · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,000 EUR | 1,000 EUR |
| 2024 | 1 | 1,000 EUR | 1,000 EUR |
Recognitions · licences · registrations
Recognised contractor
5 categoriesGRAVE MICHAEL BV38401
Dual-learning approval
4 live approvalsElektrische installaties duaal (so)
Elektrotechnicus (vwo)
Elektrotechnicus duaal (so)
Elektrotechnisch installateur (vwo)
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Of 22,818 companies in sector 43211 we hold annual accounts for 10,336. 8,252 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
Founded15-07-2009
Fiscal year end30-09
Activities, NACEBEL 2025
43211General electrical installation work
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
46713Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0817126515
Also
9925:BE0817126515
Registered
20-10-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.