GRDC
Annual accounts 2025
micro format, filed on 22-06-2026, 39 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Amounts without an identifiable currency are taken as euros.
Balance sheet
balance sheet total €370,756 on 31-12-2025in euro
in euro
Position in the sector
38.5%
Higher than 40% of 9,770 companies in 2025.
26.6%
Higher than 74% of 9,624 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
370,756 | 325,766 | 231,989 | 133,522 | |
21/28 |
9,956 | 18,527 | 27,099 | 35,670 | |
22/27 |
9,956 | 18,527 | 27,099 | 35,670 | |
23 |
510 | 951 | 1,391 | 1,831 | |
24 |
9,445 | 17,576 | 25,708 | 33,839 | |
29/58 |
360,800 | 307,239 | 204,890 | 97,852 | |
40/41 |
23,222 | 15,610 | 14,302 | 16,687 | |
40 |
22,627 | 15,610 | 14,302 | 16,687 | |
41 |
595 | - | - | - | |
54/58 |
334,445 | 288,249 | 187,468 | 77,969 | |
490/1 |
3,133 | 3,380 | 3,120 | 3,196 | |
| Balance sheet: equity and liabilities | |||||
10/49 |
370,756 | 325,766 | 231,989 | 133,522 | |
10/15 |
142,920 | 264,311 | 189,517 | 95,270 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | |
13 |
139,920 | 261,311 | 186,517 | 92,270 | |
133 |
139,920 | 261,311 | 186,517 | 92,270 | |
17/49 |
227,835 | 61,455 | 42,472 | 38,252 | |
42/48 |
226,578 | 60,486 | 38,272 | 34,052 | |
44 |
- | 51 | 354 | 263 | |
440/4 |
- | 51 | 354 | 263 | |
45 |
35,280 | 58,127 | 34,586 | 32,783 | |
450/3 |
35,280 | 58,127 | 34,586 | 32,783 | |
47/48 |
191,297 | 2,308 | 3,332 | 1,006 | |
492/3 |
1,258 | 970 | 4,200 | 4,200 | |
| Income statement | |||||
9900 |
134,171 | 100,178 | 127,370 | 124,408 | |
630 |
8,571 | 8,571 | 8,571 | 7,187 | |
640/8 |
544 | 528 | 311 | 61 | |
9901 |
125,055 | 91,079 | 118,488 | 117,160 | |
75/76B |
102 | 2,751 | 799 | - | |
75 |
102 | 2,751 | 799 | - | |
65/66B |
112 | 150 | 50 | 64 | |
65 |
112 | 150 | 50 | 64 | |
9903 |
125,046 | 93,680 | 119,237 | 117,096 | |
67/77 |
26,436 | 18,887 | 24,990 | 24,826 | |
9904 |
98,610 | 74,794 | 94,247 | 92,270 | |
9905 |
98,610 | 74,794 | 94,247 | 92,270 | |
| Appropriation of the result | |||||
9906 |
98,610 | 74,794 | 94,247 | 92,270 | |
791/2 |
220,000 | - | - | - | |
691/2 |
98,610 | 74,794 | 94,247 | 92,270 | |
6921 |
98,610 | 74,794 | 94,247 | 92,270 | |
694/7 |
220,000 | - | - | - | |
694 |
220,000 | - | - | - | |
| Document | |||||
The notes to these accounts have 4 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 22-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankSubsidies and aid
Flemish government 2022 to 2023, 2 entries, €311 awarded, €311 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €225 | €225 |
| 2022 | 1 | €86 | €86 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 0 | -1 | 0 | 42,857 | ||
| 46,196 | 100,781 | 109,499 | - | ||
| 38.5% | 81.1% | 81.7% | 71.4% | ||
| 69.0% | 28.3% | 49.7% | 96.9% | ||
| 26.6% | 23.0% | 40.6% | 69.1% |
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.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €42,857 |
| €8,571 | €8,571 | €8,571 | €7,187 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on GRDC
The operating result for 2025 is 37% higher than in 2024 and the highest since 2022. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total rises from 18.9% to 61.5%. Equity is lower and debt is higher.