GREESA
Judicial reorganisationSummary
The file of GREESA contains 1 judicial reorganisation, as published in the Belgian State Gazette. The KBO register records for GREESA the legal situation: special situation; this is today's state according to the register itself, which carries no start date. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2025 annual accounts show equity of €882,096 and a net result of €63,520. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 69% of 3158 sector peers (fiscal year 2025).
Are you a creditor?
Judicial reorganisation
Source: Belgian Official Gazette
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Antwerp
- Opened
- 30 June 2026
- Track
- Reorganisation by collective agreement
- Docket number
- 20260015
- Delegated judge
- Bart Beckers
- Official Gazette
- 06-07-2026 (pdf) ↗search the document for 2026/129996
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
View the file in RegSol ↗
Watch
Follow this reorganisation: you are alerted to an extension, the court's approval, the closure or a bankruptcy.
General information, not legal advice. If in doubt, your lawyer or your accountant can help. Full guide for creditors
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Checked score
Score 2025
44
/ 100
Weak
An ongoing judicial reorganisation from the Belgian State Gazette caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72▲+37
Solvency80▲+4
Growth52=
Track record30
Credit verdict
No credit on open account during an ongoing judicial reorganisation
Liquidity ample (current ratio 3.46 against 2.91 in 2024; short-term debt: 21% and cash: 0.1% of total assets), and 45% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-06-2026, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
21 d early
2023
31 d early
2022
9 d late
2021
22 d late
2020
31 d early
2019
80 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 3 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
What should you check before you do business with this company?Supplier due diligence What held for this company on a given day: board, seat, name?Company as of a date Is the registered address a letterbox address or a business centre?Address check Are there other customers at risk in your own list?Debtor check How is the Raising of sheep and goats sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€882,096▲ 7.8%
2024 · €818,575
Total assets
€1.6m▼ 0.7%
2024 · €1.6m
Net result
€63,520
2024 · -€25,242
Working capital
€826,416▲ 11.3%
2024 · €742,749
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€195,089▲ 35.4%€131,392▼ 32.7%€144,655▲ 10.1%-€5,598€82,675
Net result€140,720▲ 41.0%€82,977▼ 41.0%€89,175▲ 7.5%-€25,242€63,520
Equity€671,665▲ 26.5%€754,642▲ 12.4%€843,817▲ 11.8%€818,575▼ 3.0%€882,096▲ 7.8%
Total assets€1.2m▲ 44.6%€1.3m▲ 8.0%€1.5m▲ 16.2%€1.6m▲ 5.7%€1.6m▼ 0.7%
Debt€546,599▲ 75.3%€560,629▲ 2.6%€684,363▲ 22.1%€796,726▲ 16.4%€721,561▼ 9.4%
Working capital€537,324▲ 13.3%€560,972▲ 4.4%€671,604▲ 19.7%€742,749▲ 10.6%€826,416▲ 11.3%
Staff (FTE)6.1▲ 29.8%7▲ 14.8%7=6.2
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 returns to profit in 2025: €82,675 after a loss of €5,598 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€440,748 ▼ 8.8%
Current assets
€1.2m ▲ 2.7%
Equity and liabilities €1.6m
Equity
€882,096 ▲ 7.8%
Debt
€721,561 ▼ 9.4%
Debt's share of the balance-sheet total falls from 49.3% to 45.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€132,267▲
2024 · €43,307
Cash flow
€113,112▲
2024 · €23,664
Current ratio
3.46▲
2024 · 2.91
Quick ratio
0.25▼
2024 · 0.41
Debt to equity
0.82▼
2024 · 0.97
ROE
7.2%▲
2024 · -3.1%
ROA
4.0%▲
2024 · -1.6%
Interest coverage
5.77▲
2024 · 2.20
Debt ≤ 1 year
€336,492▼
2024 · €389,447
Debt > 1 year
€385,068▼
2024 · €407,279
Income taxes
€4▼
2024 · €55
Staff costs
€407,366▼
2024 · €488,903
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €13 | €2,204 | - | €35 | - |
| Remuneration, social security and pensions62 | €364,360 | €392,328 | €477,494 | €488,903 | €407,366 | ▼ 16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,576 | €38,016 | €44,864 | €48,905 | €49,592 | ▲ 1.4% |
| Other operating charges640/8 | €3,119 | €4,142 | €4,893 | €3,971 | €3,619 | ▼ 8.9% |
| Gross operating margin9900 | €589,145 | €565,878 | €671,906 | €536,182 | €543,252 | ▲ 1.3% |
| Operating profit (loss)9901 | €195,089 | €131,392 | €144,655 | -€5,598 | €82,675 | ▲ 1,577% |
| Financial income75/76B | €41 | €194 | €143 | €59 | €3,790 | ▲ 6,316% |
| Recurring financial income75 | €41 | €194 | €143 | €59 | €3,790 | ▲ 6,316% |
| Financial charges65/66B | €20,964 | €19,031 | €18,043 | €19,648 | €22,941 | ▲ 16.8% |
| Recurring financial charges65 | €20,964 | €19,031 | €18,043 | €19,648 | €22,941 | ▲ 16.8% |
| Profit (loss) for the period before taxes9903 | €174,166 | €112,554 | €126,754 | -€25,187 | €63,524 | ▲ 352% |
| Income taxes67/77 | €33,446 | €29,577 | €37,580 | €55 | €4 | ▼ 93.4% |
| Profit (loss) for the period9904 | €140,720 | €82,977 | €89,175 | -€25,242 | €63,520 | ▲ 352% |
| Profit (loss) for the period to be appropriated9905 | €140,720 | €82,977 | €89,175 | -€25,242 | €63,520 | ▲ 352% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.3m | €1.5m | €1.6m | €1.6m | ▼ 0.7% |
| Fixed assets21/28 | €475,349 | €499,915 | €501,575 | €483,105 | €440,748 | ▼ 8.8% |
| Intangible fixed assets21 | €14,065 | €24,499 | €18,312 | €12,119 | €4,660 | ▼ 61.6% |
| Tangible fixed assets22/27 | €461,284 | €475,416 | €483,262 | €470,986 | €436,088 | ▼ 7.4% |
| Land and buildings22 | €456,125 | €462,259 | €434,329 | €432,827 | €410,151 | ▼ 5.2% |
| Plant, machinery and equipment23 | €1,889 | €10,709 | €7,609 | €6,657 | €4,138 | ▼ 37.8% |
| Furniture and vehicles24 | €3,270 | €2,448 | €41,324 | €31,502 | €21,799 | ▼ 30.8% |
| Current assets29/58 | €742,915 | €815,356 | €1.0m | €1.1m | €1.2m | ▲ 2.7% |
| Amounts receivable after more than one year29 | €45,244 | €45,244 | €25,650 | €25,650 | €25,650 | = |
| Trade receivables290 | €45,244 | €45,244 | €25,650 | €25,650 | €25,650 | = |
| Stocks and contracts in progress3 | €565,777 | €706,032 | €882,477 | €971,742 | €1.1m | ▲ 10.8% |
| Stocks30/36 | €89,662 | €87,937 | €164,937 | €98,200 | €99,320 | ▲ 1.1% |
| Contracts in progress37 | €476,115 | €618,095 | €717,540 | €873,542 | €977,792 | ▲ 11.9% |
| Amounts receivable within one year40/41 | €70,467 | €53,362 | €101,668 | €80,945 | €53,825 | ▼ 33.5% |
| Trade receivables40 | €57,221 | €40,282 | €86,819 | €44,809 | €36,581 | ▼ 18.4% |
| Other amounts receivable41 | €13,245 | €13,080 | €14,849 | €36,136 | €17,244 | ▼ 52.3% |
| Cash at bank and in hand54/58 | €53,176 | €5,965 | €8,366 | €49,985 | €983 | ▼ 98.0% |
| Deferred charges and accrued income490/1 | €8,251 | €4,752 | €8,443 | €3,874 | €5,338 | ▲ 37.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.3m | €1.5m | €1.6m | €1.6m | ▼ 0.7% |
| Equity10/15 | €671,665 | €754,642 | €843,817 | €818,575 | €882,096 | ▲ 7.8% |
| Contributions10/11 | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Reserves13 | €93,156 | €93,156 | €93,156 | €93,156 | €93,156 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €91,296 | €91,296 | €91,296 | €91,296 | €91,296 | = |
| Profit (loss) carried forward14 | €566,009 | €648,986 | €738,161 | €712,919 | €776,439 | ▲ 8.9% |
| Amounts payable17/49 | €546,599 | €560,629 | €684,363 | €796,726 | €721,561 | ▼ 9.4% |
| Amounts payable after more than one year17 | €341,007 | €306,245 | €329,362 | €407,279 | €385,068 | ▼ 5.5% |
| Financial debts170/4 | €341,007 | €306,245 | €329,362 | €407,279 | €385,068 | ▼ 5.5% |
| Amounts payable within one year42/48 | €205,592 | €254,384 | €355,000 | €389,447 | €336,492 | ▼ 13.6% |
| Current portion of amounts payable after more than one year42 | €48,799 | €44,736 | €60,078 | €74,830 | €22,314 | ▼ 70.2% |
| Financial debts43 | €564 | €558 | €1,029 | - | €1,113 | - |
| Credit institutions430/8 | €564 | €558 | €1,029 | - | €1,113 | - |
| Trade debts44 | €34,250 | €77,185 | €120,469 | €157,815 | €121,223 | ▼ 23.2% |
| Suppliers440/4 | €34,250 | €77,185 | €120,469 | €157,815 | €121,223 | ▼ 23.2% |
| Taxes, remuneration and social security45 | €94,508 | €91,049 | €132,271 | €100,192 | €131,214 | ▲ 31.0% |
| Taxes450/3 | €40,874 | €34,620 | €49,016 | - | €65,903 | - |
| Remuneration and social security454/9 | €53,634 | €56,429 | €83,254 | €100,192 | €65,311 | ▼ 34.8% |
| Other amounts payable47/48 | €27,471 | €40,856 | €41,154 | €56,610 | €60,629 | ▲ 7.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €140,720 | €82,977 | €89,175 | -€25,242 | €63,520 | ▲ 352% |
| + Depreciation and write-downs630 | €26,576 | €38,016 | €44,864 | €48,905 | €49,592 | ▲ 1.4% |
| Operating cash flow (approximation) | €167,296 | €120,993 | €134,039 | €23,664 | €113,112 | ▲ 378% |
| Investment in fixed assets (approximation) | - | -€62,582 | -€46,524 | -€30,435 | -€7,235 | ▲ 76.2% |
| Change in cash | - | -€47,211 | €2,401 | €41,619 | -€49,002 | ▼ 218% |
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
06-07
Judicial reorganisation
Opening
Ondernemingsrechtbank Antwerpen · collective agreement (SME) · event 30-06-2026
15-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €63,520
Net result €63,520 after one loss-making year.
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€25,242
Net result drops to -€25,242, the lowest in the series; recovery starts the following year.
30-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
09-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 9 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Highest result since 2018net €140,720 ▲41%
Net result €140,720, the highest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Equity above €500,000Eq €530,945 ▲23.1%
3 profitable years in a row build equity to €530,945.
19-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 80 days late
Show earlier events
2019
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
SignalFinancial 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, Laakdal · 1 establishment unit since 2006
Ground area
6,537 m²
Building footprint
287 m²
Volume, LiDAR
1,789 m³
Parcel 13045C0449/02D000, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
GREESA
since 20062.156.480.244
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13045C0449/02D000 | Flanders | 6,537 m² | 1 · 287 m² | 10.3 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 7,242 EUR awarded · 7,242 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 509 EUR | 563 EUR |
| 2024 | 2 | 3,572 EUR | 3,518 EUR |
| 2023 | 1 | 860 EUR | 860 EUR |
| 2022 | 1 | 2,301 EUR | 2,301 EUR |
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Of 800 companies in sector 01450 we hold annual accounts for 114. 76 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
Founded14-08-2006
Fiscal year end31-12
Activities, NACEBEL 2025
01450Raising of sheep and goats
71122Land surveying
93110Operation of sports facilities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0883002381
Also
9925:BE0883002381
Registered
05-02-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.