GREKAR
ActiveSummary
GREKAR has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €394,334 and a net result of €22,323. Equity is growing by ~7.5% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▼-1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity ample (current ratio 4.07 against 9.96 in 2024; short-term debt: 3.1% and cash: 11.4% of total assets), and 3.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
96.9%
Return on assets
5.5%
Age of the figures
9 mo
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
3 d early
2023
on the day
2022
5 d early
2021
2 d early
2020
17 d early
2019
18 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 8 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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. Usually files around 28 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€394,334▲ 6.0%
2024 · €372,011
Total assets
€407,151▲ 8.6%
2024 · €375,006
Net result
€22,323▼ 10.1%
2024 · €24,841
Working capital
€39,336▲ 46.6%
2024 · €26,837
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€23,374▼ 6.4%€42,649▲ 82.5%€41,438▼ 2.8%€35,426▼ 14.5%€31,243▼ 11.8%
Net result€17,503=€28,703▲ 64.0%€27,964▼ 2.6%€24,841▼ 11.2%€22,323▼ 10.1%
Equity€290,503▲ 6.4%€319,206▲ 9.9%€347,170▲ 8.8%€372,011▲ 7.2%€394,334▲ 6.0%
Total assets€305,290▼ 0.9%€325,595▲ 6.7%€357,292▲ 9.7%€375,006▲ 5.0%€407,151▲ 8.6%
Debt€14,787▼ 58.0%€6,389▼ 56.8%€10,122▲ 58.4%€2,995▼ 70.4%€12,817▲ 328%
Working capital€25,483▲ 265%€52,968▲ 108%€81,463▲ 53.8%€26,837▼ 67.1%€39,336▲ 46.6%
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 has fallen three years in a row; 2025 is 12% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €404,118
Fixed assets
€351,965 ▲ 2.9%
Current assets
€52,154 ▲ 74.8%
Equity and liabilities €407,151
Equity
€394,334 ▲ 6.0%
Debt
€12,817 ▲ 328%
Debt's share of the balance-sheet total rises from 0.8% to 3.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€32,385▼
2024 · €35,958
Cash flow
€23,465▼
2024 · €25,373
Current ratio
4.07▼
2024 · 9.96
Debt to equity
0.03▲
2024 · 0.01
ROE
5.7%▼
2024 · 6.7%
ROA
5.5%▼
2024 · 6.6%
Interest coverage
249.42▼
2024 · 280.18
Debt ≤ 1 year
€12,817▲
2024 · €2,995
Income taxes
€10,390▼
2024 · €11,580
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 31,370 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €532 | €532 | €532 | €532 | €1,141 | ▲ 115% |
| Other operating charges640/8 | €7,101 | €5,363 | €6,265 | €7,923 | €6,902 | ▼ 12.9% |
| Gross operating margin9900 | €31,006 | €48,543 | €48,235 | €43,881 | €39,287 | ▼ 10.5% |
| Operating profit (loss)9901 | €23,374 | €42,649 | €41,438 | €35,426 | €31,243 | ▼ 11.8% |
| Financial income75/76B | €617 | - | - | €1,124 | €1,600 | ▲ 42.4% |
| Recurring financial income75 | €617 | - | - | €1,124 | €1,600 | ▲ 42.4% |
| Financial charges65/66B | €650 | €139 | €124 | €128 | €130 | ▲ 1.2% |
| Recurring financial charges65 | €650 | €139 | €124 | €128 | €130 | ▲ 1.2% |
| Profit (loss) for the period before taxes9903 | €23,341 | €42,510 | €41,315 | €36,421 | €32,714 | ▼ 10.2% |
| Income taxes67/77 | €5,838 | €13,807 | €13,351 | €11,580 | €10,390 | ▼ 10.3% |
| Profit (loss) for the period9904 | €17,503 | €28,703 | €27,964 | €24,841 | €22,323 | ▼ 10.1% |
| Profit (loss) for the period to be appropriated9905 | €17,503 | €28,703 | €27,964 | €24,841 | €22,323 | ▼ 10.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €305,290 | €325,595 | €357,292 | €375,006 | €407,151 | ▲ 8.6% |
| Formation expenses20 | €3,033 | €3,033 | €3,033 | €3,033 | €3,033 | = |
| Fixed assets21/28 | €263,737 | €263,205 | €262,673 | €342,141 | €351,965 | ▲ 2.9% |
| Tangible fixed assets22/27 | €263,737 | €263,205 | €262,673 | €262,141 | €271,965 | ▲ 3.7% |
| Land and buildings22 | €263,737 | €263,205 | €262,673 | €262,141 | €271,965 | ▲ 3.7% |
| Financial fixed assets28 | - | - | - | €80,000 | €80,000 | = |
| Current assets29/58 | €38,520 | €59,357 | €91,586 | €29,832 | €52,154 | ▲ 74.8% |
| Amounts receivable within one year40/41 | €3,062 | €3,062 | - | - | €1,610 | - |
| Other amounts receivable41 | €3,062 | €3,062 | - | - | €1,610 | - |
| Cash at bank and in hand54/58 | €34,647 | €55,484 | €91,586 | €25,940 | €46,600 | ▲ 79.6% |
| Deferred charges and accrued income490/1 | €810 | €810 | - | €3,892 | €3,944 | ▲ 1.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €305,290 | €325,595 | €357,292 | €375,006 | €407,151 | ▲ 8.6% |
| Equity10/15 | €290,503 | €319,206 | €347,170 | €372,011 | €394,334 | ▲ 6.0% |
| Contributions10/11 | €72,000 | €72,000 | €72,000 | €72,000 | €72,000 | = |
| Capital10 | €72,000 | €72,000 | €72,000 | €72,000 | €72,000 | = |
| Issued capital100 | €72,000 | €72,000 | €72,000 | €72,000 | €72,000 | = |
| Reserves13 | €218,503 | €247,206 | €275,170 | €300,011 | €322,334 | ▲ 7.4% |
| Non-distributable reserves130/1 | €7,200 | €7,200 | €7,200 | €7,200 | €7,200 | = |
| Legal reserve130 | €7,200 | €7,200 | €7,200 | €7,200 | €7,200 | = |
| Distributable reserves133 | €211,303 | €240,006 | €267,970 | €292,811 | €315,134 | ▲ 7.6% |
| Amounts payable17/49 | €14,787 | €6,389 | €10,122 | €2,995 | €12,817 | ▲ 328% |
| Amounts payable within one year42/48 | €13,037 | €6,389 | €10,122 | €2,995 | €12,817 | ▲ 328% |
| Trade debts44 | €13,037 | €81 | €464 | €1,415 | €11,237 | ▲ 694% |
| Suppliers440/4 | €13,037 | €81 | €464 | €1,415 | €11,237 | ▲ 694% |
| Taxes, remuneration and social security45 | - | €6,307 | €9,658 | €1,580 | €1,580 | = |
| Taxes450/3 | - | €6,307 | €9,658 | €1,580 | €1,580 | = |
| Accrued charges and deferred income492/3 | €1,750 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,503 | €28,703 | €27,964 | €24,841 | €22,323 | ▼ 10.1% |
| + Depreciation and write-downs630 | €532 | €532 | €532 | €532 | €1,141 | ▲ 115% |
| Operating cash flow (approximation) | €18,035 | €29,235 | €28,496 | €25,373 | €23,465 | ▼ 7.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€80,000 | -€10,965 | ▲ 86.3% |
| Change in cash | - | €20,837 | €36,102 | -€65,645 | €20,659 | ▲ 131% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 9.29
Current ratio from 2.95 to 9.29; short-term debt falls from €13,037 to €6,389.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €17,503 ▼0%
Net result drops to €17,503, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 2.95
Current ratio from 1.21 to 2.95; short-term debt falls from €33,911 to €13,037.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €39,615 ▲97.3%
Operating result €57,861, net result €39,615, both a record.
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · 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, Zedelgem · 1 establishment unit since 1991
Ground area
2,671 m²
Building footprint
1,223 m²
Parcel 31040D0488/00T000, Flanders. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
Torhoutsesteenweg 206, 8210 Zedelgem
since 19912.051.177.638
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31040D0488/00T000 | Flanders | 2,671 m² | 1 · 1,223 m² | - |
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.
Identification & contact
Identification
Legal formPublic limited company
Founded08-01-1991
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0442935355
Also
9925:BE0442935355
Registered
20-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.