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GRAWECO

Active
Coöperatieve vennootschap met onbeperkte aansprakelijkheidfounded 199729 yrs activeIvo Cornelisstraat 1, 2845 Niel, BelgiumKBO/BCE: BE 0460.678.932
Summary

GRAWECO has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€88,548) and a net result of -€22,813. Equity is shrinking by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 304 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

Risk analysisWatch ReportCompare
GRAWECOActiveChecked score 54/100
Risk analysis ReportCompare

Overview

Activity
Cutting, shaping and finishing of stone
NACE 23700NACE 45450
#8 oldest company in Niel, Manufacturing sector1 site
Size
€199,605total assets 2025
Equity
-€88,548
Loss
-€22,813
Turnover not published (abridged schema)
Financial health
54 Fair Checked score 2025
Bankruptcy chance 12 m
0.8%
Structure
Accounts filed 34 d late0 of 3 deeds read
Why 54Capped at 59: negative equity- Negative equity -€88,548- Loss of €22,813, the second in a row (FY 2025)+ Size: total assets €199,605+ Sector Manufacture of other non-metallic mineral products (NACE 23)Show the evidence

Checked score

Score 2025
54 / 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 22% of its sector peers (NACE 23, micro)
Performance against the sector, not lower risk
Negative equity caps the score at 59. Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency 0=
equity -44.4% of total assets
Liquidity 66+2
short-term debt 6.2% · cash 13.1%
Profitability 4-2
return on assets -11.4%
Bankruptcy probability, 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%

About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (851 companies)
Last 24 months 11-2024: 0.7% 12-2024: 0.7%● 0.0% vs 11-2024 01-2025: 0.7%▼ -1.7% vs 12-2024 02-2025: 0.7%● 0.0% vs 01-2025 03-2025: 0.7%▼ -0.1% vs 02-2025 04-2025: 0.7%▼ -2.6% vs 03-2025 05-2025: 0.7%▲ +0.9% vs 04-2025 06-2025: 0.6%▼ -5.0% vs 05-2025lowest value 07-2025: 0.8%▲ +18.1% vs 06-2025 08-2025: 1.1%▲ +42.0% vs 07-2025 09-2025: 0.7%▼ -30.8% vs 08-2025 10-2025: 0.8%▲ +2.8% vs 09-2025 11-2025: 0.8%● 0.0% vs 10-2025 12-2025: 0.8%● 0.0% vs 11-2025 01-2026: 0.8%▼ -1.2% vs 12-2025 02-2026: 0.7%▼ -2.8% vs 01-2026 03-2026: 0.7%▼ -2.4% vs 02-2026 04-2026: 0.7%▲ +0.3% vs 03-2026 05-2026: 0.7%▲ +1.4% vs 04-2026 06-2026: 0.7%▼ -2.6% vs 05-2026 07-2026: 0.8%▲ +9.9% vs 06-2026 08-2026: 1.1%▲ +36.1% vs 07-2026 09-2026: 1.1%▲ +1.4% vs 08-2026highest value 10-2026: 0.8%▼ -27.5% vs 09-2026
  • Size: total assets €199,605 lowers the probability for this profile
  • Negative equity -€88,548 raises the probability
  • Loss of €22,813, the second in a row (FY 2025) raises the probability
  • Sector Manufacture of other non-metallic mineral products (NACE 23) lowers the probability
No credit on open account
Liquidity ample (current ratio 10.48 against 11.19 in 2024; short-term debt: 6.2% and cash: 13.1% of total assets), but equity is negative.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 23, micro). Better than this share of them on solvency 3%, liquidity 69%, profitability 8%, growth against the median 10%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Size: total assets €199,605
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Negative equity -€88,548
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Loss of €22,813, the second in a row (FY 2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Sector Manufacture of other non-metallic mineral products (NACE 23)
In the bankruptcy model this factor lowers the probability.
KBO
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025
Equity per financial year
1819202122232425
2018 to 2025 · latest year -€88,548
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-09-2026, 34 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filings
Deviation from the deadline
2025
34 d late
2024
4 d late
2023
26 d late
2022
25 d late
2021
31 d late
2020
30 d late
2019
27 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 25 days after the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 34% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 27 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
03-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · abbreviated…
  2. Annual accounts filedfiscal year 2024 · micro…
  3. Annual accounts filedfiscal year 2023 · micro…

Key points

  • Risk: Negative equityfiscal year 2025: debts exceed assets -€88,548 View
  • Risk: 3 loss-making years in a rowloss fiscal year 2025 -€22,813 View
  • Caution: Among the weakest 5% on solvencysector median 44.3% · 304 companies -44.4% View

By topic

Financials

Fiscal year
2025
Total assets
€199,605
Loss
-€22,813
Solvency
-44.4%
Total assets▼ 11.8%
Net result
20182025
Go to Financials

Timeline

Events
13
Since
2017
Next accounts
by 31-07-2027
  1. 03-09-2026Annual accounts filed
  2. 04-08-2025Annual accounts filed
  3. 26-08-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Coöperatieve vennootschap met onbeperkte aansprakelijkheid
Activity
Cutting, shaping and finishing of stoneNACE 23700
Founded
16-05-1997
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

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