Equity
GRCS has made a profit without a break since 2020.
In July 2024, 34,721 companies had the same profile as GRCS has now. Each dot stands for 87 companies, two years later.
The method was tested on the 497,762 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,721 companies, not a prediction for GRCS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| GRCS Kasterlee | €55,150 | €24,287 | 84.7% | - |
| CONNECT TO Wezembeek-Oppem | €58,558 | €24,406 | 52.4% | - |
| META COMMUNICATIONS Andenne | €49,464 | €24,290 | 12.5% | - |
| Archon Limited Hasselt | €57,243 | €21,625 | 9.7% | - |
| PRIXO Pittem | €50,986 | €29,731 | -181.0% | - |
| Tired of Trees Haaltert | €61,744 | €26,389 | 45.9% | - |
| ERVEL Antwerp | €69,049 | €26,460 | 67.9% | - |
These companies have the same main activity as GRCS: computer programming (NACE 62100). They are comparable in size and age: total assets between €49,500 and €69,000, founded between 2014 and 2016.
GRCS files the micro format. That format states no turnover. The gross margin fell from €40,716 in 2016 to €24,287 in 2025.
The balance sheet grew most in 2021 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €130,000. Estimated: probably between €70,000 and €250,000.
Higher than 81% of 22,044 companies in 2025.
Higher than 75% of 21,344 companies in 2025.
Higher than 41% of 21,535 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
55,150 | 60,228 | 92,563 | 109,945 | 126,430 | 69,340 | 70,982 | 120,548 | 85,823 | 75,388 | |
21/28 |
12,828 | 21,688 | 34,098 | 46,508 | 58,918 | 10,859 | 10,627 | 21,037 | 31,487 | 42,372 | |
21 |
- | - | - | - | - | - | 114 | 1,481 | 2,848 | 4,215 | |
22/27 |
12,828 | 21,688 | 34,098 | 46,508 | 58,918 | 10,859 | 10,513 | 19,556 | 28,638 | 38,156 | |
23 |
179 | 421 | 663 | 906 | 1,148 | - | - | - | - | - | |
24 |
5,968 | 13,750 | 25,082 | 36,415 | 47,747 | - | 699 | 9,092 | 17,524 | 26,391 | |
26 |
6,681 | 7,516 | 8,352 | 9,188 | 10,023 | 10,859 | 9,813 | 10,464 | 11,115 | 11,765 | |
29/58 |
42,322 | 38,541 | 58,465 | 63,436 | 67,512 | 58,481 | 60,355 | 99,511 | 54,336 | 33,017 | |
40/41 |
18,609 | 13,784 | 11,146 | 15,543 | 14,831 | 17,795 | 19,427 | 11,760 | 51,523 | 21,339 | |
40 |
0 | 10,408 | 7,770 | 8,700 | 12,266 | 14,783 | 9,550 | 9,340 | 43,047 | 10,405 | |
41 |
18,609 | 3,376 | 3,376 | 6,843 | 2,565 | 3,013 | 9,877 | 2,420 | 8,476 | 10,934 | |
50/53 |
- | 0 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | - | - | |
54/58 |
23,343 | 24,714 | 27,319 | 27,894 | 32,681 | 19,606 | 20,928 | 67,751 | 2,813 | 11,678 | |
490/1 |
369 | 43 | - | - | 0 | 1,079 | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
55,150 | 60,228 | 92,563 | 109,945 | 126,430 | 69,340 | 70,982 | 120,548 | 85,823 | 75,388 | |
10/15 |
46,691 | 33,036 | 57,083 | 57,083 | 74,380 | 52,695 | 20,380 | 11,451 | 40,127 | 14,225 | |
10/11 |
20,460 | 20,460 | 20,460 | 18,600 | 18,600 | 18,600 | 18,600 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | 12,400 | 12,400 | 12,400 | |
13 |
26,231 | 12,576 | 36,623 | 38,483 | 55,780 | 34,095 | 1,860 | 5,251 | 33,927 | 8,025 | |
130/1 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | 0 | 1,860 | 1,860 | 1,860 | - | - | - | - | |
133 |
26,231 | 12,576 | 36,623 | 36,623 | 53,920 | 32,235 | - | 3,391 | 32,067 | 6,165 | |
14 |
0 | 0 | 0 | 0 | 0 | - | -80 | - | - | - | |
17/49 |
8,459 | 27,193 | 35,480 | 52,862 | 52,050 | 16,645 | 50,602 | 109,097 | 45,696 | 61,163 | |
17 |
0 | 2,301 | 11,451 | 20,515 | 29,492 | - | 6,511 | 13,499 | 20,366 | 27,117 | |
170/4 |
0 | 2,301 | 11,451 | 20,515 | 29,492 | - | 6,511 | 13,499 | 20,366 | 27,117 | |
42/48 |
8,459 | 24,892 | 24,029 | 32,347 | 22,558 | 16,645 | 44,090 | 95,598 | 25,330 | 34,046 | |
42 |
6,683 | 9,150 | 9,064 | 8,978 | 8,893 | 6,511 | 6,987 | 6,868 | 6,751 | 6,635 | |
44 |
1,776 | 1,137 | 547 | 1,768 | 4,979 | 3,964 | 1,895 | 2,218 | 943 | 5,713 | |
440/4 |
1,776 | 1,137 | 547 | 1,768 | 4,979 | 3,964 | 1,895 | 2,218 | 943 | 5,713 | |
45 |
0 | 8,146 | 2,601 | 1,596 | 2,406 | 10 | 1,844 | 2,461 | 21 | 57 | |
450/3 |
0 | 6,652 | 1,108 | 1,596 | 2,406 | 10 | 1,844 | 2,461 | 21 | 57 | |
454/9 |
0 | 1,493 | 1,493 | - | - | - | - | - | - | - | |
47/48 |
0 | 6,459 | 11,817 | 20,005 | 6,280 | 6,159 | 33,365 | 84,052 | 17,615 | 21,641 | |
| Income statement | |||||||||||
9900 |
24,287 | 59,892 | 44,085 | 39,481 | 48,043 | 43,585 | 22,013 | 65,320 | 49,717 | 40,716 | |
630 |
13,021 | 12,410 | 12,410 | 12,410 | 9,813 | 1,618 | 10,410 | 10,450 | 10,885 | 21,817 | |
640/8 |
937 | 826 | 838 | 766 | 1,195 | 448 | 1,030 | 1,018 | 714 | 1,454 | |
66A |
- | - | - | - | - | - | - | - | - | 4,767 | |
9901 |
10,329 | 46,657 | 30,836 | 26,305 | 37,035 | 41,520 | 10,573 | 53,852 | 38,118 | 17,444 | |
75/76B |
0 | 15 | 12 | 1 | 15,937 | 82 | 176 | 12 | 55 | 33 | |
75 |
0 | 15 | 12 | 1 | 100 | 82 | 176 | 12 | 55 | 33 | |
76B |
- | - | - | 0 | 15,837 | - | - | - | - | - | |
65/66B |
355 | 493 | 643 | 550 | 852 | 430 | 544 | 629 | 601 | 5,085 | |
65 |
355 | 493 | 643 | 550 | 852 | 430 | 544 | 629 | 601 | 318 | |
66B |
- | - | - | - | - | - | - | - | - | 4,767 | |
9903 |
9,974 | 46,178 | 30,206 | 25,755 | 52,120 | 41,171 | 10,205 | 53,235 | 37,572 | 12,392 | |
67/77 |
2,778 | 20,708 | 8,389 | 11,052 | 10,435 | 8,857 | 13,676 | 11,911 | 11,669 | 4,367 | |
9904 |
7,197 | 25,470 | 21,817 | 14,703 | 41,685 | 32,315 | -3,471 | 41,324 | 25,902 | 8,025 | |
9905 |
7,197 | 25,470 | 21,817 | 14,703 | 41,685 | 32,315 | -3,471 | 41,324 | 25,902 | 8,025 | |
| Appropriation of the result | |||||||||||
9906 |
13,655 | 25,470 | 21,817 | 14,703 | 41,685 | 32,235 | -3,471 | 41,324 | 25,902 | 8,025 | |
14P |
6,459 | - | - | - | 0 | - | - | - | - | - | |
791/2 |
0 | 36,600 | 1,860 | 32,000 | - | - | 3,391 | 28,676 | - | - | |
691/2 |
13,655 | 12,553 | 1,860 | 14,703 | 41,685 | 32,235 | - | - | 25,902 | 8,025 | |
691 |
- | 0 | 1,860 | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
13,655 | 12,553 | 0 | 14,703 | 41,685 | 32,235 | - | - | 25,902 | 6,165 | |
694/7 |
0 | 49,518 | 21,817 | 32,000 | 0 | - | - | 70,000 | - | - | |
694 |
0 | 49,518 | 21,817 | 32,000 | 0 | - | - | 70,000 | - | - | |
| Document | |||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 28-08-2026.
2025 annual accounts filed 28 days after the deadline. Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00443703.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-08-2026 | 2026-00443703 | |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00401818 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00481239 | |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00408085 | |
| 31-12-2021 | micro format | 07-08-2022 | 2022-20274262 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-42700157 | |
| 31-12-2019 | micro format | 11-09-2020 | 2020-52300281 | |
| 31-12-2018 | micro format | 23-08-2019 | 2019-49100287 | |
| 31-12-2017 | micro format | 09-08-2018 | 2018-44500307 | |
| 31-12-2016 | abbreviated format | 24-07-2017 | 2017-35700354 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 23,350 | 59,067 | 43,246 | 38,715 | 46,848 | 43,137 | 20,983 | 64,302 | 49,003 | 39,261 | ||
| 20,217 | 37,880 | 34,227 | 27,113 | 51,498 | 33,932 | 6,939 | 51,774 | 36,787 | 29,842 | ||
| 4,161 | 0 | 0 | 0 | 57,872 | 1,850 | 0 | 0 | 0 | 63,234 | ||
| -1,370 | -2,605 | -575 | -4,787 | 13,075 | -1,322 | -46,823 | 64,938 | -8,864 | - | ||
| 33,863 | 13,649 | 34,436 | 31,089 | 44,954 | 41,835 | 16,265 | 3,913 | 29,007 | -1,030 | ||
| 84.7% | 54.9% | 61.7% | 51.9% | 58.8% | 76.0% | 28.7% | 9.5% | 46.8% | 18.9% | ||
| 5.00 | 1.55 | 2.43 | 1.96 | 2.99 | 3.51 | 1.37 | 1.04 | 2.15 | 0.97 | ||
| 0.18 | 0.82 | 0.62 | 0.93 | 0.70 | 0.32 | 2.48 | 9.53 | 1.14 | 4.30 | ||
| 15.4% | 77.1% | 38.2% | 25.8% | 56.0% | 61.3% | -17.0% | 360.9% | 64.6% | 56.4% | ||
| 13.0% | 42.3% | 23.6% | 13.4% | 33.0% | 46.6% | -4.9% | 34.3% | 30.2% | 10.6% | ||
| 65.78 | over 100 | 67.26 | 70.37 | 54.99 | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Carrying value of the other pledged assets | - | €21,688 | - | €29,408 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,161 | - | - | - | €57,872 |
| €13,021 | €12,410 | €12,410 | €12,410 | €9,813 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 78% lower than in 2024 and the lowest since 2016.
Debt's share of the balance-sheet total falls from 45.1% to 15.3%. Equity is higher and debt is lower.
GRCS has no parent and no holdings in its annual accounts. is the only director. GRCS shares no director with another company.
| Raeymaekers, Daan (sole trader)
establishment since 01-05-2025 |
founded in 2025 1022.539.752 |
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Zwaluwendreef 12 registered office 2460 Kasterlee | 27-02-2015 | 2.240.109.189 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 13018D0223/00H026 | 1,751 m² | 1 · 142 m² | 7.0 m · 2 |
If something looks wrong or is missing, please tell us.