GREGAM
ActiveSummary
The computed 12-month bankruptcy probability of GREGAM is 2.4% (moderate). The annual accounts of GREGAM for fiscal year 2025 show a net loss of 77% of the equity at the start of that year. The 2025 annual accounts show equity of €4,490 and a net result of -€25,199. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 25% of 821 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-71
Solvency30▼-34
Growth35▼-17
Track record100
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.27 against 1.57 in 2024; short-term debt: 48.6% and cash: 38.4% of total assets), and 94.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
5.2%
Return on assets
-29%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 8 filingsDeviation from the deadline
2025
14 d late
2024
on the day
2023
2 d early
2022
6 d early
2021
2 d early
2020
24 d early
2019
18 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 on the deadline day; the sector median for financial year 2024 is 6 days after the deadline, and 52% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€130,478▼ 55.2%
2019 · €290,991
EBIT margin
-0.9%▼ 7.6pp
2019 · 6.7%
Net result
-€25,199
2024 · €1,794
Working capital
€11,279▼ 21.3%
2024 · €14,337
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€8,477€14,716▲ 73.6%€13,920▼ 5.4%€3,055▼ 78.1%-€23,923
Net result€6,777within the sector's middle half€13,346within the sector's middle half▲ 96.9%€7,759within the sector's middle half▼ 41.9%€1,794within the sector's middle half▼ 76.9%-€25,199
EBIT margin
Equity€10,000within the sector's middle half▲ 210%€23,346within the sector's middle half▲ 133%€31,105within the sector's middle half▲ 33.2%€32,899within the sector's middle half▲ 5.8%€4,490▼ 86.4%
Total assets€62,504within the sector's middle half▼ 15.6%€67,913within the sector's middle half▲ 8.7%€91,177within the sector's middle half▲ 34.3%€84,800within the sector's middle half▼ 7.0%€86,754▲ 2.3%
Debt€52,504▼ 25.9%€44,567▼ 15.1%€60,072▲ 34.8%€51,901▼ 13.6%€82,264▲ 58.5%
Working capital-€20,764▲ 29.1%-€8,313▲ 60.0%€5,767€14,337▲ 149%€11,279▼ 21.3%
Solvency16.0%within the sector's middle half▲ 11.6pp34.4%within the sector's middle half▲ 18.4pp34.1%within the sector's middle half▼ 0.3pp38.8%within the sector's middle half▲ 4.7pp5.2%▼ 33.6pp
Staff (FTE)0.3▼ 40.0%1.2▲ 300%1▼ 16.7%2.8▲ 180%1▼ 64.3%
above
within
below
the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €23,923 after €3,055 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €86,754
Fixed assets
€33,294 ▼ 26.5%
Current assets
€53,460 ▲ 35.3%
Equity and liabilities €86,754
Equity
€4,490 ▼ 86.4%
Debt
€82,264 ▲ 58.5%
Debt's share of the balance-sheet total rises from 61.2% to 94.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€11,917▼
2024 · €16,701
Cash flow
-€13,193▼
2024 · €15,440
Current ratio
1.27▼
2024 · 1.57
Quick ratio
0.98▼
2024 · 1.07
Debt to equity
18.32▲
2024 · 1.58
ROE
-561.2%▼
2024 · 5.5%
ROA
-29.0%▼
2024 · 2.1%
Interest coverage
-10.41▼
2024 · 21.01
Debt ≤ 1 year
€42,181▲
2024 · €25,163
Debt > 1 year
€40,076▲
2024 · €26,738
Income taxes
€310▼
2024 · €466
Staff costs
€50,115▲
2024 · €39,354
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 647 companies that looked in July 2024 the way this one looks now, 6.6% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a loss of 10% of the balance sheet or more
6.6%
went bankrupt
5.6%
stopped otherwise
86%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 647 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €5,620 | €30,764 | €35,351 | €39,354 | €50,115 | ▲ 27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,365 | €15,428 | €17,825 | €13,646 | €12,006 | ▼ 12.0% |
| Other operating charges640/8 | €4,702 | €5,418 | €8,425 | €6,069 | €6,424 | ▲ 5.8% |
| Non-recurring operating charges66A | - | - | €50 | - | - | - |
| Gross operating margin9900 | €40,164 | €66,326 | €75,571 | €62,124 | €44,622 | ▼ 28.2% |
| Operating profit (loss)9901 | €8,477 | €14,716 | €13,920 | €3,055 | -€23,923 | ▼ 883% |
| Financial income75/76B | - | - | €25,812 | - | €179 | - |
| Recurring financial income75 | - | - | €3,566 | - | €179 | - |
| Non-recurring financial income76B | - | - | €22,246 | - | - | - |
| Financial charges65/66B | €1,960 | €1,142 | €31,216 | €795 | €1,145 | ▲ 44.0% |
| Recurring financial charges65 | €1,960 | €1,142 | €4,333 | €795 | €1,145 | ▲ 44.0% |
| Non-recurring financial charges66B | - | - | €26,883 | - | - | - |
| Profit (loss) for the period before taxes9903 | €6,517 | €13,574 | €8,516 | €2,260 | -€24,889 | ▼ 1,201% |
| Income taxes67/77 | -€260 | €228 | €757 | €466 | €310 | ▼ 33.5% |
| Profit (loss) for the period9904 | €6,777 | €13,346 | €7,759 | €1,794 | -€25,199 | ▼ 1,505% |
| Profit (loss) for the period to be appropriated9905 | €6,777 | €13,346 | €7,759 | €1,794 | -€25,199 | ▼ 1,505% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €62,504 | €67,913 | €91,177 | €84,800 | €86,754 | ▲ 2.3% |
| Fixed assets21/28 | €30,764 | €38,251 | €56,596 | €45,300 | €33,294 | ▼ 26.5% |
| Intangible fixed assets21 | €11,660 | €6,658 | €11,808 | €8,580 | €7,009 | ▼ 18.3% |
| Tangible fixed assets22/27 | €19,104 | €31,593 | €44,788 | €36,720 | €26,285 | ▼ 28.4% |
| Plant, machinery and equipment23 | €8,993 | €7,642 | €12,555 | €12,222 | €9,522 | ▼ 22.1% |
| Furniture and vehicles24 | €2,111 | €19,951 | €32,233 | €24,498 | €16,763 | ▼ 31.6% |
| Other tangible fixed assets26 | €8,000 | €4,000 | - | - | - | - |
| Current assets29/58 | €31,740 | €29,662 | €34,581 | €39,500 | €53,460 | ▲ 35.3% |
| Stocks and contracts in progress3 | €8,395 | €13,577 | €12,493 | €12,492 | €12,037 | ▼ 3.6% |
| Stocks30/36 | €8,395 | €13,577 | €12,493 | €12,492 | €12,037 | ▼ 3.6% |
| Amounts receivable within one year40/41 | €10,226 | €4,025 | €7,803 | €10,425 | €7,651 | ▼ 26.6% |
| Trade receivables40 | €2,328 | - | - | €1,122 | - | - |
| Other amounts receivable41 | €7,898 | €4,025 | €7,803 | €9,303 | €7,651 | ▼ 17.8% |
| Cash at bank and in hand54/58 | €12,315 | €11,252 | €13,243 | €15,836 | €33,276 | ▲ 110% |
| Deferred charges and accrued income490/1 | €804 | €808 | €1,042 | €747 | €496 | ▼ 33.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €62,504 | €67,913 | €91,177 | €84,800 | €86,754 | ▲ 2.3% |
| Equity10/15 | €10,000 | €23,346 | €31,105 | €32,899 | €4,490 | ▼ 86.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | €6,200 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €12,400 | - | - | - | - | - |
| Outside capital11 | - | - | - | - | €6,200 | - |
| Share premium1100/10 | - | - | - | - | €6,200 | - |
| Reserves13 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €3,800 | €15,286 | €23,045 | €24,839 | -€3,570 | ▼ 114% |
| Amounts payable17/49 | €52,504 | €44,567 | €60,072 | €51,901 | €82,264 | ▲ 58.5% |
| Amounts payable after more than one year17 | - | €6,592 | €31,258 | €26,738 | €40,076 | ▲ 49.9% |
| Financial debts170/4 | - | €6,592 | €31,258 | €26,738 | €40,076 | ▲ 49.9% |
| Amounts payable within one year42/48 | €52,504 | €37,975 | €28,814 | €25,163 | €42,181 | ▲ 67.6% |
| Current portion of amounts payable after more than one year42 | €33,681 | €14,007 | €4,367 | €4,519 | €13,851 | ▲ 207% |
| Trade debts44 | €11,427 | €6,143 | €9,417 | €5,082 | €5,799 | ▲ 14.1% |
| Suppliers440/4 | €11,427 | €6,143 | €9,417 | €5,082 | €5,799 | ▲ 14.1% |
| Taxes, remuneration and social security45 | €5,601 | €9,702 | €10,007 | €12,046 | €15,843 | ▲ 31.5% |
| Taxes450/3 | €5,179 | €2,305 | €5,516 | €6,556 | €6,192 | ▼ 5.6% |
| Remuneration and social security454/9 | €422 | €7,397 | €4,491 | €5,490 | €9,651 | ▲ 75.8% |
| Other amounts payable47/48 | €1,795 | €8,123 | €5,023 | €3,516 | €6,688 | ▲ 90.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | €7 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,777 | €13,346 | €7,759 | €1,794 | -€25,199 | ▼ 1,505% |
| + Depreciation and write-downs630 | €21,365 | €15,428 | €17,825 | €13,646 | €12,006 | ▼ 12.0% |
| Operating cash flow (approximation) | €28,142 | €28,774 | €25,584 | €15,440 | -€13,193 | ▼ 185% |
| Investment in fixed assets (approximation) | - | -€22,915 | -€36,170 | -€2,350 | €0 | ▲ 100% |
| Change in cash | - | -€1,063 | €1,991 | €2,593 | €17,440 | ▲ 573% |
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
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 14 days late
2025
31-12
Financial
Weakest financial yearnet -€25,199
Net result drops to -€25,199, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €13,346 ▲96.9%
Net result €13,346, the highest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €6,777
Net result €6,777 after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
18-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 18 days late
2019
31-12
Financial
Back to profitnet €10,844
Net result €10,844 after one loss-making year.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Liège · 1 establishment unit since 2017
Ground area
399 m²
Building footprint
104 m²
Volume, LiDAR
507 m³
2 parcels, Wallonia · tallest building 14.7 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Le Quiet Club
since 20172.264.642.964
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62818G0284/00C003 | Wallonia | 207 m² | 1 · 64 m² | - |
| 62803A1150/00S000 | Wallonia | 192 m² | 1 · 40 m² | 14.7 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteLiège2.264.642.964
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Of 333 companies in sector 56302 we hold annual accounts for 169. 64 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
Founded12-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
56302Nightclubs
56309Food and beverage service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0675685172
Registered
22-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.