Grayship
ActiveSummary
Grayship has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €216k and a net result of €55k. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 92% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability99▲+12
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity ample (current ratio 13.81 against 3.87 in 2024; short-term debt: 6.5% and cash: 21.5% of total assets), and 6.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
93.5%
Return on assets
24%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 9 filingsDeviation from the deadline
2025
31 d late
2024
14 d early
2023
20 d early
2022
61 d late
2021
31 d early
2020
88 d early
2019
77 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€216k▲ 19.6%
2024 · €181k
2018: €136k
2019: €129k▼ -5.6% vs 2018
2020: €86k▼ -33.2% vs 2019lowest in 8 years
2021: €148k▲ +72.7% vs 2020
2022: €291k▲ +95.9% vs 2021highest in 8 years
2023: €196k▼ -32.6% vs 2022
2024: €181k▼ -7.9% vs 2023
2025: €216k▲ +19.6% vs 2024
2018 → 2025
Total assets
€231k▼ 0.6%
2024 · €232k
2018: €164k
2019: €135k▼ -17.5% vs 2018lowest in 8 years
2020: €232k▲ +71.6% vs 2019
2021: €219k▼ -5.4% vs 2020
2022: €450k▲ +105% vs 2021highest in 8 years
2023: €297k▼ -34.0% vs 2022
2024: €232k▼ -21.8% vs 2023
2025: €231k▼ -0.6% vs 2024
2018 → 2025
Net result
€55k▲ 62.3%
2024 · €34k
2018: €45k
2019: €-8k▼ -117% vs 2018
2020: €-43k▼ -463% vs 2019lowest in 8 years
2021: €62k▲ +246% vs 2020
2022: €142k▲ +128% vs 2021highest in 8 years
2023: €91k▼ -36.4% vs 2022
2024: €34k▼ -62.4% vs 2023
2025: €55k▲ +62.3% vs 2024
2018 → 2025
Working capital
€192k▲ 29.2%
2024 · €148k
2018: €136k
2019: €129k▼ -5.6% vs 2018
2020: €89k▼ -31.0% vs 2019lowest in 8 years
2021: €148k▲ +67.1% vs 2020
2022: €280k▲ +88.6% vs 2021highest in 8 years
2023: €188k▼ -32.7% vs 2022
2024: €148k▼ -21.2% vs 2023
2025: €192k▲ +29.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€148k-€291k▲ 95.9%€196k▼ 32.6%€181k▼ 7.9%€216k▲ 19.6%
2021: €148klowest in 5 years
2022: €291k▲ +95.9% vs 2021highest in 5 years
2023: €196k▼ -32.6% vs 2022
2024: €181k▼ -7.9% vs 2023
2025: €216k▲ +19.6% vs 2024
Operating result€79k-€186k▲ 137%€104k▼ 44.4%€45k▼ 56.6%€76k▲ 68.4%
2021: €79k
2022: €186k▲ +137% vs 2021highest in 5 years
2023: €104k▼ -44.4% vs 2022
2024: €45k▼ -56.6% vs 2023lowest in 5 years
2025: €76k▲ +68.4% vs 2024
Net result€62k-€142k▲ 128%€91k▼ 36.4%€34k▼ 62.4%€55k▲ 62.3%
2021: €62k
2022: €142k▲ +128% vs 2021highest in 5 years
2023: €91k▼ -36.4% vs 2022
2024: €34k▼ -62.4% vs 2023lowest in 5 years
2025: €55k▲ +62.3% vs 2024
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 recovers in 2025; 2025 is 68% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €231k
Fixed assets
€24k ▼ 24.7%
Current assets
€207k ▲ 3.3%
Equity and liabilities €231k
Equity
€216k ▲ 19.6%
Debt
€15k ▼ 71.0%
Debt's share of the balance-sheet total falls from 22.3% to 6.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€84k▲
2024 · €48k
Cash flow
€63k▲
2024 · €37k
Current ratio
13.81▲
2024 · 3.87
Debt to equity
0.07▼
2024 · 0.29
ROE
25.6%▲
2024 · 18.9%
ROA
24.0%▲
2024 · 14.7%
Interest coverage
94.22▲
2024 · 6.86
Debt ≤ 1 year
€15k▼
2024 · €52k
Income taxes
€21k▲
2024 · €13k
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 · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€232k€231k▼
Fixed assets21/28€32k€24k▼
Intangible fixed assets21€29k€23k▼
Tangible fixed assets22/27€3k€1k▼
Plant, machinery and equipment23€2k€293▼
Furniture and vehicles24€2k€1k▼
Financial fixed assets28€0-
Current assets29/58€200k€207k▲
Amounts receivable after more than one year29€0-
Other amounts receivable291€0-
Amounts receivable within one year40/41€37k€20k▼
Trade receivables40€32k€18k▼
Other amounts receivable41€5k€3k▼
Current investments50/53€130k€136k▲
Cash at bank and in hand54/58€27k€50k▲
Deferred charges and accrued income490/1€6k€742▼
Equity and liabilities
Total equity and liabilities10/49€232k€231k▼
Equity10/15€181k€216k▲
Contributions10/11€19k€19k=
Reserves13€162k€197k▲
Distributable reserves133€162k€197k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€52k€15k▼
Amounts payable within one year42/48€52k€15k▼
Current portion of amounts payable after more than one year42€3k€0▼
Trade debts44€16k€7k▼
Suppliers440/4€16k€7k▼
Taxes, remuneration and social security45€13k€8k▼
Taxes450/3€13k€8k▼
Other amounts payable47/48€20k€0▼
Accrued charges and deferred income492/3€37€37=
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€8k▲
Other operating charges640/8€505€1k▲
Gross operating margin9900€48k€85k▲
Operating profit (loss)9901€45k€76k▲
Financial income75/76B€9k€2k▼
Recurring financial income75€9k€2k▼
Financial charges65/66B€7k€888▼
Recurring financial charges65€7k€888▼
Profit (loss) for the period before taxes9903€47k€77k▲
Income taxes67/77€13k€21k▲
Profit (loss) for the period9904€34k€55k▲
Profit (loss) for the period to be appropriated9905€34k€55k▲
Appropriation of the result
Profit (loss) to be appropriated9906€34k€55k▲
Transfer from equity791/2€50k€20k▼
Transfer to equity691/2€34k€55k▲
To other reserves6921€34k€55k▲
Profit to be distributed694/7€50k€20k▼
Return on contributions (dividend)694€50k€20k▼
The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €3k | €5k | €3k | €8k | ▲ 167% |
| Other operating charges640/8 | €646 | €490 | €553 | €505 | €1k | ▲ 178% |
| Gross operating margin9900 | €79k | €189k | €109k | €48k | €85k | ▲ 75.6% |
| Operating profit (loss)9901 | €79k | €186k | €104k | €45k | €76k | ▲ 68.4% |
| Financial income75/76B | €4k | €14k | €27k | €9k | €2k | ▼ 78.2% |
| Recurring financial income75 | €4k | €14k | €27k | €9k | €2k | ▼ 78.2% |
| Financial charges65/66B | €11k | €13k | €13k | €7k | €888 | ▼ 87.3% |
| Recurring financial charges65 | €11k | €13k | €13k | €7k | €888 | ▼ 87.3% |
| Profit (loss) for the period before taxes9903 | €71k | €187k | €117k | €47k | €77k | ▲ 62.5% |
| Income taxes67/77 | €8k | €45k | €26k | €13k | €21k | ▲ 63.2% |
| Profit (loss) for the period9904 | €62k | €142k | €91k | €34k | €55k | ▲ 62.3% |
| Profit (loss) for the period to be appropriated9905 | €62k | €142k | €91k | €34k | €55k | ▲ 62.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €219k | €450k | €297k | €232k | €231k | ▼ 0.6% |
| Fixed assets21/28 | - | €11k | €8k | €32k | €24k | ▼ 24.7% |
| Intangible fixed assets21 | - | - | - | €29k | €23k | ▼ 21.1% |
| Tangible fixed assets22/27 | - | €6k | €3k | €3k | €1k | ▼ 56.5% |
| Plant, machinery and equipment23 | - | €2k | €3k | €2k | €293 | ▼ 80.5% |
| Furniture and vehicles24 | - | €4k | €0 | €2k | €1k | ▼ 36.4% |
| Financial fixed assets28 | - | €5k | €5k | €0 | - | - |
| Current assets29/58 | €219k | €439k | €289k | €200k | €207k | ▲ 3.3% |
| Amounts receivable after more than one year29 | - | - | €25k | €0 | - | - |
| Other amounts receivable291 | - | - | €25k | €0 | - | - |
| Amounts receivable within one year40/41 | €60k | €100k | €46k | €37k | €20k | ▼ 45.1% |
| Trade receivables40 | €54k | €82k | €42k | €32k | €18k | ▼ 44.5% |
| Other amounts receivable41 | €6k | €17k | €4k | €5k | €3k | ▼ 49.0% |
| Current investments50/53 | €59k | €72k | €143k | €130k | €136k | ▲ 4.4% |
| Cash at bank and in hand54/58 | €101k | €263k | €73k | €27k | €50k | ▲ 82.3% |
| Deferred charges and accrued income490/1 | - | €5k | €2k | €6k | €742 | ▼ 87.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €219k | €450k | €297k | €232k | €231k | ▼ 0.6% |
| Equity10/15 | €148k | €291k | €196k | €181k | €216k | ▲ 19.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €130k | €272k | €177k | €162k | €197k | ▲ 21.8% |
| Non-distributable reserves130/1 | €2k | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €0 | - | - | - | - |
| Distributable reserves133 | €128k | €272k | €177k | €162k | €197k | ▲ 21.8% |
| Profit (loss) carried forward14 | €0 | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €71k | €160k | €101k | €52k | €15k | ▼ 71.0% |
| Amounts payable within one year42/48 | €71k | €160k | €101k | €52k | €15k | ▼ 71.1% |
| Current portion of amounts payable after more than one year42 | - | €24k | €12k | €3k | €0 | ▼ 100% |
| Trade debts44 | €37k | €120k | €46k | €16k | €7k | ▼ 52.9% |
| Suppliers440/4 | €37k | €120k | €46k | €16k | €7k | ▼ 52.9% |
| Taxes, remuneration and social security45 | €0 | €15k | €13k | €13k | €8k | ▼ 40.0% |
| Taxes450/3 | €0 | €15k | €13k | €13k | €8k | ▼ 40.0% |
| Other amounts payable47/48 | €34k | €584 | €30k | €20k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €0 | - | - | €37 | €37 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €62k | €142k | €91k | €34k | €55k | ▲ 62.3% |
| + Depreciation and write-downs630 | - | €3k | €5k | €3k | €8k | ▲ 167% |
| Operating cash flow (approximation) | €62k | €145k | €95k | €37k | €63k | ▲ 70.7% |
| Investment in fixed assets (approximation) | - | - | €-1k | €-27k | €0 | ▲ 100% |
| Change in cash | - | €162k | €-190k | €-46k | €22k | ▲ 149% |
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
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Liquidity quadruplescurrent ratio 13.81
Current ratio from 3.87 to 13.81; short-term debt falls from €52k to €15k.
31-12
Financial
Equity above €200kEq €216k ▲19.6%
5 profitable years in a row build equity to €216k.
17-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Highest result since 2018net €142k ▲128%
Operating result €186k, net result €142k, both a record.
31-12
Financial
Equity above €200kEq €291k ▲95.9%
2 profitable years in a row build equity to €291k.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €62k
Net result €62k after 2 loss-making years.
31-12
Financial
Equity above €100kEq €148k ▲72.7%
Equity rises from €86k to €148k.
04-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
31-12
Financial
Weakest financial yearnet €-43k
Net result drops to €-43k, the lowest in the series; recovery starts the following year.
15-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity triplescurrent ratio 20.61
Current ratio from 5.93 to 20.61; short-term debt falls from €28k to €7k.
21-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Schilde · 1 establishment unit since 2016
Ground area
1,953 m²
Building footprint
262 m²
Volume, LiDAR
1,433 m³
Parcel 11039A0343/00L000, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Playablanca
since 20162.256.863.960
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11039A0343/00L000 | Flanders | 1,953 m² | 1 · 262 m² | 8.3 m · 2 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.
Recognitions · licences · registrations
Legal Entity Identifier
254900C3C62U5UYQQ871
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 39,555 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
Founded07-09-2016
Fiscal year end31-12
Abbreviation NL
Playablanca
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.