GRAVE MICHAEL
ActiveSummary
The computed 12-month bankruptcy probability of GRAVE MICHAEL is 3.8% (moderate). For GRAVE MICHAEL, one filing cycle of the annual accounts is missing. The 2024 annual accounts show equity of €203,043 and a net result of €26,060. Equity is growing by about 22% per year across the filed financial years. Its solvency ranks better than 37% of 35,978 sector peers (NACE 43, financial year 2024). The company has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 30 April 2026 Financial year closed on 30 September 2025; filing due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 13 October 2026.
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
2020 to 2024, 5 financial years 2019 to 2024, 6 financial years
The operating result falls in 2024; 2024 is 46% below 2023.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€67,404
2024
Net result€26,060
2024
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€571,885
2024
Equity€203,043
2024
Debt€368,842
2024
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€38,130
2024
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)4.6%
2024
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency35.5%
2024
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.30
2024
Average staff in full-time equivalents (FTE).
Staff (FTE)1.5
2024
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. 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 financial year before
favourable
unfavourable
Line201920202021202220232024
Operating result€36,417-€41,139▲ 13.0%€41,913▲ 1.9%€54,994▲ 31.2%€125,187▲ 128%€67,404▼ 46.2%
Net result€15,547-€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€79,768-€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€552,047-€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€472,279-€438,685▼ 7.1%€460,807▲ 5.0%€382,335▼ 17.0%€486,270▲ 27.2%€368,842▼ 24.1%
Working capital-€4,851-€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%
Solvency14.4%-17.1%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 ratio0.97-1.08below 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%-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)2-2within 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 of NACE 43, Specialised construction activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
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.
Annual accounts
| Line | 2019 | 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 | €53,630 | €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 | €189,292 | €177,910 | €172,043 | €174,947 | €230,294 | €198,390 | ▼ 13.9% |
| Operating profit (loss)9901 | €36,417 | €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 | €638 | €407 | €0 | €55 | €3,622 | €47 | ▼ 98.7% |
| Financial charges65/66B | - | - | €15,445 | €15,515 | €13,860 | €14,610 | ▲ 5.4% |
| Recurring financial charges65 | €17,879 | €21,305 | €15,445 | €15,515 | €13,860 | €14,610 | ▲ 5.4% |
| Profit (loss) for the period before taxes9903 | €19,175 | €20,241 | €26,468 | €39,534 | €114,949 | €52,840 | ▼ 54.0% |
| Income taxes67/77 | €3,629 | €5,331 | €6,799 | €12,106 | €30,740 | €26,780 | ▼ 12.9% |
| Profit (loss) for the period9904 | €15,547 | €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 | €15,547 | €14,909 | €24,169 | €27,428 | €84,209 | €26,060 | ▼ 69.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €552,047 | €529,363 | €571,153 | €520,110 | €663,253 | €571,885 | ▼ 13.8% |
| Fixed assets21/28 | €408,723 | €370,625 | €353,315 | €331,356 | €447,254 | €408,184 | ▼ 8.7% |
| Intangible fixed assets21 | €467 | - | €1,757 | €1,095 | €433 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €408,256 | €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 | €143,324 | €158,738 | €217,838 | €188,754 | €216,000 | €163,701 | ▼ 24.2% |
| Stocks and contracts in progress3 | €2,825 | €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 | €131,338 | €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 | €8,598 | €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 | €552,047 | €529,363 | €571,153 | €520,110 | €663,253 | €571,885 | ▼ 13.8% |
| Equity10/15 | €79,768 | €90,678 | €110,347 | €137,774 | €176,984 | €203,043 | ▲ 14.7% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €61,168 | €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 | €472,279 | €438,685 | €460,807 | €382,335 | €486,270 | €368,842 | ▼ 24.1% |
| Amounts payable after more than one year17 | €324,103 | €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 | €148,176 | €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 | €103,907 | €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 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,547 | €14,909 | €19,669 | €27,428 | €84,209 | €26,060 | ▼ 69.1% |
| + Depreciation and write-downs630 | €53,630 | €40,038 | €29,847 | €25,736 | €30,567 | €51,681 | ▲ 69.1% |
| Operating cash flow (approximation) | €69,177 | €54,948 | €49,516 | €53,163 | €114,776 | €77,741 | ▼ 32.3% |
| Investment in fixed assets (approximation) | - | -€1,941 | -€12,537 | -€3,776 | -€146,465 | -€12,612 | ▲ 91.4% |
| Change in cash | - | €11,651 | -€2,989 | €1,326 | €44,276 | -€41,180 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-09-2024 | micro format | 29-04-2025 | 2025-00091672 |
| 30-09-2023 | micro format | 26-04-2024 | 2024-00077754 |
| 30-09-2022 | abbreviated format | 28-04-2023 | 2023-00077457 |
| 30-09-2021 | micro format | 18-11-2022 | 2022-20527188 |
| 30-09-2020 | micro format | 31-03-2021 | 2021-09400056 |
| 30-09-2019 | micro format | 18-05-2020 | 2020-12300447 |
| 30-09-2018 | micro format | 29-04-2019 | 2019-11100215 |
| 30-09-2017 | micro format | 04-05-2018 | 2018-12100481 |
| 30-09-2016 | abbreviated format | 07-04-2017 | 2017-09200289 |
| 30-09-2015 | abbreviated format | 15-04-2016 | 2016-10000505 |
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Of the 22,585 active companies whose main activity is general electrical installation work (NACE 43211), figures are known for 10,445. 8,314 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €2,000 awarded · €2,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,000 | €1,000 |
| 2024 | 1 | €1,000 | €1,000 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.