GRD
ActiveSummary
The computed 12-month bankruptcy probability of GRD is 2.0% (moderate). The 2025 annual accounts show equity of €62,339 and a net result of €31,290. Equity has been growing by about 46% per year since 2023. Its solvency ranks better than 35% of 35,008 sector peers (NACE 43, financial year 2025). The company has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 22-06-2022 Normal situation
- Activity
- Roofing work NACE 43410and 4 others
- Establishment unit
- 2.333.250.965 1840 Londerzeel, since 22-06-2022
- Financial year end
- 31 December
- Peppol
- Reachable since 23-01-2026
Board and ownership
- ROELS GuntherDirector · since 21-06-2022
- LaurienMOONSDirector · since 01-01-2025
- ROELS Guntherfounderdeed of 24-06-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.0%
- Gross margin
- €70,512
- ▲ 110%
- Turnover
- ≈ €300,000
- estimated
- Profit
- €31,290
- ▲ 430%
- Equity
- €62,339
- ▲ 77.9%
- Total assets
- €187,786
- ▲ 36.7%
- 2025 accounts filed 31 days after the deadline
Score breakdownraises riskLast filed accounts filed 31 days late; 2 of the last 3 accounts lateFounded in 2022lowers riskLiquidity: current ratio 1.16, cash €27,780Figures for financial year 2025 (filed on 03-09-2026)Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 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% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 35% of them on solvency, 30% on liquidity, 75% on profitability and 89% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 3 accounts on average 31 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00497642.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is 4.7 times that of 2024 and the highest since 2023. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €86,671 | €26,669 | €26,217 |
| Depreciation and write-downs of the year | €13,297 | €21,801 | €28,317 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,297 | €21,801 | €28,317 | ▲ 29.9% |
| Other operating charges640/8 | €563 | €442 | €431 | ▼ 2.6% |
| Non-recurring operating charges66A | - | €2,445 | - | - |
| Gross operating margin9900 | €37,069 | €33,567 | €70,512 | ▲ 110% |
| Operating profit (loss)9901 | €23,209 | €8,878 | €41,764 | ▲ 370% |
| Financial income75/76B | - | €0 | €21 | ▲ 133× |
| Recurring financial income75 | - | €0 | €21 | ▲ 133× |
| Financial charges65/66B | €461 | €2,426 | €2,431 | ▲ 0.2% |
| Recurring financial charges65 | €461 | €2,426 | €2,431 | ▲ 0.2% |
| Profit (loss) for the period before taxes9903 | €22,748 | €6,452 | €39,354 | ▲ 510% |
| Income taxes67/77 | €3,600 | €552 | €8,065 | ▲ 15× |
| Profit (loss) for the period9904 | €19,149 | €5,900 | €31,290 | ▲ 430% |
| Profit (loss) for the period to be appropriated9905 | €19,149 | €5,900 | €31,290 | ▲ 430% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €164,736 | €137,359 | €187,786 | ▲ 36.7% |
| Fixed assets21/28 | €67,993 | €72,861 | €70,761 | ▼ 2.9% |
| Tangible fixed assets22/27 | €67,993 | €72,861 | €70,761 | ▼ 2.9% |
| Plant, machinery and equipment23 | €58,626 | €53,792 | €37,310 | ▼ 30.6% |
| Furniture and vehicles24 | €3,121 | €14,404 | €20,818 | ▲ 44.5% |
| Other tangible fixed assets26 | €6,246 | €4,666 | €12,633 | ▲ 171% |
| Current assets29/58 | €96,743 | €64,498 | €117,025 | ▲ 81.4% |
| Amounts receivable within one year40/41 | €61,597 | €22,091 | €84,304 | ▲ 282% |
| Trade receivables40 | €45,265 | €16,081 | €69,267 | ▲ 331% |
| Other amounts receivable41 | €16,333 | €6,011 | €15,037 | ▲ 150% |
| Cash at bank and in hand54/58 | €28,227 | €37,139 | €27,780 | ▼ 25.2% |
| Deferred charges and accrued income490/1 | €6,919 | €5,268 | €4,941 | ▼ 6.2% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €164,736 | €137,359 | €187,786 | ▲ 36.7% |
| Equity10/15 | €29,149 | €35,049 | €62,339 | ▲ 77.9% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | = |
| Profit (loss) carried forward14 | €19,149 | €25,049 | €52,339 | ▲ 109% |
| Amounts payable17/49 | €135,588 | €102,310 | €125,448 | ▲ 22.6% |
| Amounts payable after more than one year17 | €43,424 | €32,096 | €24,259 | ▼ 24.4% |
| Financial debts170/4 | €43,424 | €32,096 | €24,259 | ▼ 24.4% |
| Amounts payable within one year42/48 | €90,206 | €70,203 | €101,188 | ▲ 44.1% |
| Current portion of amounts payable after more than one year42 | €11,328 | €11,328 | €14,551 | ▲ 28.5% |
| Trade debts44 | €47,799 | €38,446 | €68,280 | ▲ 77.6% |
| Suppliers440/4 | €47,799 | €38,446 | €68,280 | ▲ 77.6% |
| Taxes, remuneration and social security45 | €5,400 | €5,412 | €4,410 | ▼ 18.5% |
| Taxes450/3 | €5,400 | €5,412 | €4,410 | ▼ 18.5% |
| Other amounts payable47/48 | €25,679 | €15,018 | €13,948 | ▼ 7.1% |
| Accrued charges and deferred income492/3 | €1,958 | €12 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,149 | €5,900 | €31,290 | ▲ 430% |
| + Depreciation and write-downs630 | €13,297 | €21,801 | €28,317 | ▲ 29.9% |
| Operating cash flow (approximation) | €32,446 | €27,702 | €59,606 | ▲ 115% |
| Investment in fixed assets (approximation) | - | -€26,669 | -€26,217 | ▲ 1.7% |
| Change in cash | - | €8,912 | -€9,359 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as GRD has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GRD itself: 2.0% within 12 months.
Test of the method
The method was tested on the 497,446 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 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 39,278 companies, not a prediction for GRD. 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.
Board & ownership
Directors
Owners and capital
Shareholders
- ROELS Gunther sole founder · 100% at incorporation
Capital transactions
- 24-06-2022 Incorporation · €10,000 · 100 shares
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| ROELS Gunther |
|
| LaurienMOONS |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Algemene vergadering die de bestuurder(s)benoemt bepaalt hun aantal,de duur van hun opdracht en,indien er meerdere bestuurders zijn,hun…”
Audit, dissolution and liquidation
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Kan op elk moment worden ontbonden door beslissing van de algemene vergadering beslissende in de vormen vereist voor de statutenwijziging”
Articles of association, deed of 24-06-2022 (in Dutch)
Network & group
GRD shares no director with another company.
Companies at the same address
1 other companyConnections & network
2 current directorsThe network starts from the directors of GRD. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
17-01
Gazette deed
Appointment: LaurienMOONS (director)3 points ▸
- General meeting, 26-12-2024
- Director appointment, LaurienMOONS
- Registered-office move, Zwaluwstraat86te1840Malderen
24-06
Gazette deed
IncorporationFounding capital of €10,000, 100 shares · Founder: ROELS Gunther · Appointment: ROELS Gunther (director)5 points ▸
- Founder, ROELS Gunther
- Founding capital, €10,000, 100 shares
- Registered office clause, Korte Haagstraat 5, 9200 Dendermonde
- Board rule, 1
- Director appointment, ROELS Gunther (director (not named in the articles))
- The deed holds 3 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- 9200 Dendermonde until 01-02-2025 · deed of 17-01-2025
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0787.549.334
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23048E0385/00L000 | Flanders | 1,478 m² | 1 · 165 m² | 9.1 m · 2 |