Grelco
ActiveSummary
The computed 12-month bankruptcy probability of Grelco is 2.4% (moderate). The 2025 annual accounts show equity of €1.9m and a net result of -€63,205. The figures fluctuate too strongly year-on-year for a reliable trend projection. The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
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Signals
This company filed its last 4 accounts on average on the deadline day; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, abbreviated schema
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Peer companies
Historical observationOf the 403 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- solvency under 10%
- a small loss
- without age
For this company itself Checked computes a higher bankruptcy probability: 2.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 403 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.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2,739 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €376,108 | €355,952 | €545,972 | €570,105 | ▲ 4.4% |
| Other operating charges640/8 | €32,015 | €38,781 | €65,016 | €68,405 | ▲ 5.2% |
| Gross operating margin9900 | €151,110 | €212,616 | €897,399 | €814,776 | ▼ 9.2% |
| Operating profit (loss)9901 | -€257,013 | -€182,117 | €286,411 | €176,266 | ▼ 38.5% |
| Financial income75/76B | €0 | €207 | €176 | €4,150 | ▲ 2,259% |
| Recurring financial income75 | €0 | €207 | €176 | €4,150 | ▲ 2,259% |
| Financial charges65/66B | €114,168 | €148,309 | €237,873 | €243,622 | ▲ 2.4% |
| Recurring financial charges65 | €114,168 | €148,309 | €237,873 | €243,622 | ▲ 2.4% |
| Profit (loss) for the period before taxes9903 | -€371,181 | -€330,219 | €48,714 | -€63,205 | ▼ 230% |
| Profit (loss) for the period9904 | -€371,181 | -€330,219 | €48,714 | -€63,205 | ▼ 230% |
| Profit (loss) for the period to be appropriated9905 | -€371,181 | -€330,219 | €48,714 | -€63,205 | ▼ 230% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €15.8m | €19.2m | €20.3m | €25.0m | ▲ 22.9% |
| Fixed assets21/28 | €14.4m | €17.3m | €18.8m | €21.7m | ▲ 15.4% |
| Tangible fixed assets22/27 | €14.4m | €17.3m | €18.8m | €21.7m | ▲ 15.4% |
| Land and buildings22 | €14.4m | €17.3m | €18.8m | €21.7m | ▲ 15.4% |
| Financial fixed assets28 | - | - | - | €642 | - |
| Current assets29/58 | €1.4m | €1.9m | €1.5m | €3.3m | ▲ 118% |
| Stocks and contracts in progress3 | €1.2m | €1.8m | €1.4m | €3.1m | ▲ 113% |
| Stocks30/36 | €1.2m | €1.8m | €1.4m | €3.1m | ▲ 113% |
| Amounts receivable within one year40/41 | €77,750 | €6,311 | €1,500 | €15,500 | ▲ 933% |
| Trade receivables40 | €77,750 | €5,000 | €1,500 | €15,500 | ▲ 933% |
| Other amounts receivable41 | - | €1,311 | - | - | - |
| Cash at bank and in hand54/58 | €60,386 | €73,330 | €40,295 | €143,864 | ▲ 257% |
| Deferred charges and accrued income490/1 | €2,540 | €2,397 | €5,032 | €17,055 | ▲ 239% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €15.8m | €19.2m | €20.3m | €25.0m | ▲ 22.9% |
| Equity10/15 | €66,819 | -€263,400 | €224,314 | €1.9m | ▲ 735% |
| Contributions10/11 | €438,000 | €438,000 | €438,000 | €438,000 | = |
| Revaluation surpluses12 | - | - | €436,483 | €2.1m | ▲ 390% |
| Reserves13 | - | - | €2,517 | €13,914 | ▲ 453% |
| Distributable reserves133 | - | - | €2,517 | €13,914 | ▲ 453% |
| Profit (loss) carried forward14 | -€371,181 | -€701,400 | -€652,687 | -€715,891 | ▼ 9.7% |
| Amounts payable17/49 | €15.7m | €19.4m | €20.1m | €23.1m | ▲ 15.0% |
| Amounts payable after more than one year17 | €6.4m | €7.4m | €7.6m | €8.6m | ▲ 13.0% |
| Financial debts170/4 | €6.4m | €7.4m | €7.6m | €8.6m | ▲ 13.0% |
| Amounts payable within one year42/48 | €9.3m | €12.0m | €12.5m | €14.5m | ▲ 16.2% |
| Current portion of amounts payable after more than one year42 | €352,947 | €445,978 | €483,916 | €546,132 | ▲ 12.9% |
| Financial debts43 | €518,476 | €1.3m | €901,835 | €2.0m | ▲ 127% |
| Credit institutions430/8 | €518,476 | €1.3m | €901,835 | €2.0m | ▲ 127% |
| Trade debts44 | €33,830 | €3,032 | €62,795 | €153,813 | ▲ 145% |
| Suppliers440/4 | €33,830 | €3,032 | €62,795 | €153,813 | ▲ 145% |
| Other amounts payable47/48 | €8.4m | €10.2m | €11.0m | €11.8m | ▲ 6.6% |
| Accrued charges and deferred income492/3 | €2,150 | €8,336 | €17,695 | €16,628 | ▼ 6.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€371,181 | -€330,219 | €48,714 | -€63,205 | ▼ 230% |
| + Depreciation and write-downs630 | €376,108 | €355,952 | €545,972 | €570,105 | ▲ 4.4% |
| Operating cash flow (approximation) | €4,927 | €25,733 | €594,685 | €506,900 | ▼ 14.8% |
| Investment in fixed assets (approximation) | - | -€3.2m | -€2.1m | -€3.5m | ▼ 65.9% |
| Change in cash | - | €12,944 | -€33,036 | €103,569 | ▲ 414% |
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
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44024A0046/00K000 | Flanders | 1,244 m² | 1 · 249 m² | 7.9 m · 2 fl. |
Linked by address, not proof of ownership
Identification & contact
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.