Summary
GRELI is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €101,960 and a net result of -€27,997. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 18% of 2445 sector peers (fiscal year 2025). The company has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 2445 sector peers (2025).
NBB · sector comparisonPosition among 2445 sector peers
Solvency
better than 18%
← weakest
strongest →
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
21 d early
2023
13 d early
2022
18 d early
2021
11 d early
2020
42 d early
2019
25 d early
← 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 21 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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. Usually files around 17 July (5 of the last 5 filed years within 30 days of that day).
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
In the rankings
#2 oldest company in Zwevegem, Finance and insurance sector
Equity
€101,960▼ 21.5%
2024 · €129,957
Net result
-€27,997▲ 73.5%
2024 · -€105,797
Total assets
€487,590▼ 7.5%
2024 · €527,369
Solvency
20.9%▼ 3.7pp
2024 · 24.6%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Operating result€27,845▼ 82.7%€177,219▲ 536%€22,827▼ 87.1%-€99,528-€25,241▲ 74.6%
Net result€25,197within the sector's middle half▼ 83.7%€158,981within the sector's middle half▲ 531%€11,940within the sector's middle half▼ 92.5%-€105,797below the sector's middle half-€27,997below the sector's middle half▲ 73.5%
Equity€64,833below the sector's middle half▲ 63.6%€223,814within the sector's middle half▲ 245%€235,754within the sector's middle half▲ 5.3%€129,957below the sector's middle half▼ 44.9%€101,960below the sector's middle half▼ 21.5%
Total assets€701,510within the sector's middle half▼ 16.0%€782,094within the sector's middle half▲ 11.5%€678,966within the sector's middle half▼ 13.2%€527,369below the sector's middle half▼ 22.3%€487,590below the sector's middle half▼ 7.5%
Debt€636,678▼ 20.0%€558,281▼ 12.3%€443,213▼ 20.6%€397,413▼ 10.3%€385,630▼ 3.0%
Working capital-€27,455within the sector's middle half▲ 53.8%€95,336within the sector's middle half-€16,344within the sector's middle half-€107,785within the sector's middle half▼ 559%-€81,679within the sector's middle half▲ 24.2%
Solvency9.2%below the sector's middle half▲ 4.5pp28.6%within the sector's middle half▲ 19.4pp34.7%within the sector's middle half▲ 6.1pp24.6%below the sector's middle half▼ 10.1pp20.9%below the sector's middle half▼ 3.7pp
Current ratio0.76within the sector's middle half▲ 0.081.74within the sector's middle half▲ 0.980.85within the sector's middle half▼ 0.890.08below the sector's middle half▼ 0.770.23below the sector's middle half▲ 0.14
Return on assets (ROA)3.6%within the sector's middle half▼ 14.9pp20.3%above the sector's middle half▲ 16.7pp1.8%within the sector's middle half▼ 18.6pp-20.1%below the sector's middle half▼ 21.8pp-5.7%below the sector's middle half▲ 14.3pp
Staff (FTE)
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €25,241 in 2025 against €99,528 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €487,590
Fixed assets
€463,639 ▼ 10.4%
Current assets
€23,952 ▲ 149%
Equity and liabilities €487,590
Equity
€101,960 ▼ 21.5%
Debt
€385,630 ▼ 3.0%
Debt's share of the balance-sheet total rises from 75.4% to 79.1%. Equity and debt are lower.
Key figures and ratios
ROE
-27.5%▲
2024 · -81.4%
Debt ≤ 1 year
€105,630▼
2024 · €117,413
Debt > 1 year
€280,000=
2024 · €280,000
Income taxes
€310▼
2024 · €682
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €104,808 | €104,802 | €86,561 | €88,137 | €77,195 | ▼ 12.4% |
| Other operating charges640/8 | €3,940 | €3,690 | €3,579 | €3,719 | €4,530 | ▲ 21.8% |
| Gross operating margin9900 | €136,592 | €285,711 | €112,967 | -€7,672 | €56,484 | ▲ 836% |
| Operating profit (loss)9901 | €27,845 | €177,219 | €22,827 | -€99,528 | -€25,241 | ▲ 74.6% |
| Financial income75/76B | €53 | €0 | - | - | €401 | - |
| Recurring financial income75 | €53 | €0 | - | - | €401 | - |
| Financial charges65/66B | €2,429 | €2,238 | €7,489 | €5,586 | €2,846 | ▼ 49.0% |
| Recurring financial charges65 | €2,429 | €2,238 | €7,489 | €5,586 | €2,846 | ▼ 49.0% |
| Profit (loss) for the period before taxes9903 | €25,468 | €174,981 | €15,338 | -€105,115 | -€27,687 | ▲ 73.7% |
| Income taxes67/77 | €271 | €16,000 | €3,398 | €682 | €310 | ▼ 54.6% |
| Profit (loss) for the period9904 | €25,197 | €158,981 | €11,940 | -€105,797 | -€27,997 | ▲ 73.5% |
| Profit (loss) for the period to be appropriated9905 | €25,197 | €158,981 | €11,940 | -€105,797 | -€27,997 | ▲ 73.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €701,510 | €782,094 | €678,966 | €527,369 | €487,590 | ▼ 7.5% |
| Fixed assets21/28 | €612,288 | €558,478 | €584,197 | €517,741 | €463,639 | ▼ 10.4% |
| Tangible fixed assets22/27 | €612,288 | €558,478 | €584,197 | €517,741 | €463,639 | ▼ 10.4% |
| Land and buildings22 | €556,198 | €537,025 | €549,011 | €477,873 | €428,711 | ▼ 10.3% |
| Plant, machinery and equipment23 | €52,265 | €18,081 | €32,269 | €37,405 | €32,919 | ▼ 12.0% |
| Furniture and vehicles24 | €3,825 | €3,371 | €2,917 | €2,463 | €2,009 | ▼ 18.4% |
| Current assets29/58 | €89,223 | €223,617 | €94,769 | €9,628 | €23,952 | ▲ 149% |
| Amounts receivable within one year40/41 | €16,940 | €0 | €76,911 | €0 | €14,778 | - |
| Trade receivables40 | €16,940 | €0 | €76,911 | €0 | €14,778 | - |
| Cash at bank and in hand54/58 | €69,894 | €219,248 | €6,076 | €5,203 | €3,169 | ▼ 39.1% |
| Deferred charges and accrued income490/1 | €2,388 | €4,368 | €11,782 | €4,425 | €6,004 | ▲ 35.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €701,510 | €782,094 | €678,966 | €527,369 | €487,590 | ▼ 7.5% |
| Equity10/15 | €64,833 | €223,814 | €235,754 | €129,957 | €101,960 | ▼ 21.5% |
| Contributions10/11 | €297,472 | €297,472 | €297,472 | €297,472 | €297,472 | = |
| Capital10 | €297,472 | €297,472 | €297,472 | €297,472 | €297,472 | = |
| Issued capital100 | €297,472 | €297,472 | €297,472 | €297,472 | €297,472 | = |
| Reserves13 | €29,747 | €188,729 | €200,668 | €200,668 | €200,668 | = |
| Non-distributable reserves130/1 | €29,747 | €29,747 | €29,747 | €29,747 | €29,747 | = |
| Legal reserve130 | €29,747 | €29,747 | €29,747 | €29,747 | €29,747 | = |
| Distributable reserves133 | - | €158,981 | €170,921 | €170,921 | €170,921 | = |
| Profit (loss) carried forward14 | -€262,387 | -€262,387 | -€262,387 | -€368,184 | -€396,180 | ▼ 7.6% |
| Amounts payable17/49 | €636,678 | €558,281 | €443,213 | €397,413 | €385,630 | ▼ 3.0% |
| Amounts payable after more than one year17 | €520,000 | €430,000 | €320,000 | €280,000 | €280,000 | = |
| Financial debts170/4 | €120,000 | €80,000 | €40,000 | €0 | - | - |
| Other amounts payable178/9 | €400,000 | €350,000 | €280,000 | €280,000 | €280,000 | = |
| Amounts payable within one year42/48 | €116,678 | €128,281 | €111,113 | €117,413 | €105,630 | ▼ 10.0% |
| Current portion of amounts payable after more than one year42 | €40,000 | €40,000 | €40,000 | €40,000 | €0 | ▼ 100% |
| Trade debts44 | €6,357 | €19,497 | €15,821 | €13,001 | €6,716 | ▼ 48.3% |
| Suppliers440/4 | €6,357 | €19,497 | €15,821 | €13,001 | €6,716 | ▼ 48.3% |
| Taxes, remuneration and social security45 | €8,103 | €52,906 | €40,214 | €647 | €5,182 | ▲ 701% |
| Taxes450/3 | €8,103 | €52,906 | €40,214 | €647 | €5,182 | ▲ 701% |
| Remuneration and social security454/9 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €62,218 | €15,878 | €15,078 | €63,764 | €93,732 | ▲ 47.0% |
| Accrued charges and deferred income492/3 | - | - | €12,100 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,197 | €158,981 | €11,940 | -€105,797 | -€27,997 | ▲ 73.5% |
| + Depreciation and write-downs630 | €104,808 | €104,802 | €86,561 | €88,137 | €77,195 | ▼ 12.4% |
| Operating cash flow (approximation) | €130,005 | €263,784 | €98,501 | -€17,660 | €49,198 | ▲ 379% |
| Investment in fixed assets (approximation) | - | -€50,992 | -€112,281 | -€21,681 | -€23,093 | ▼ 6.5% |
| Change in cash | - | €149,354 | -€213,172 | -€873 | -€2,034 | ▼ 133% |
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
31-08
State Gazette act
Reappointments: Vanpoucke Leon (director) and Simoens Greta (director)5 facts ▸
State Gazette act
Reappointments: Vanpoucke Leon (director) and Simoens Greta (director)
5 facts ▸
- General meeting, 30-06-2026
- Director reappointment, Vanpoucke Leon (director)
- Director reappointment, Simoens Greta (director)
- Board meeting, 30-06-2026
- Director reappointment, Vanpoucke Leon (managing director and chair of the board)
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
10-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€105,797
Net result drops to -€105,797, the lowest in the series; recovery starts the following year.
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €158,981 ▲531%
Operating result €177,219, net result €158,981, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.74
Current ratio from 0.76 to 1.74.
31-12
Financial
Equity above €200,000Eq €223,814 ▲245%
4 profitable years in a row build equity to €223,814.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
19-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Show earlier events
2019
31-12
Financial
Back to profitnet €8,181
Net result €8,181 after one loss-making year.
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, 1 in day-to-day management, last change in 2026
Board 2
Simoens Greta
CurrentDirector · since 30-06-2026
Vanpoucke Leon
CurrentDirector · since 30-06-2026
Day-to-day management 1
Vanpoucke Leon
CurrentManaging director and chair of the board · since 30-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
7 of this company's 8 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Zwevegem · 1 establishment unit since 1985
Ground area
4,795 m²
Building footprint
289 m²
Volume, LiDAR
1,859 m³
Parcel 34028A0224/00C000, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Greli
since 19852.027.237.444
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34028A0224/00C000 | Flanders | 4,795 m² | 1 · 289 m² | 11.2 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.
Mandate history
2 people since 2026, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Simoens Greta |
|
| Vanpoucke Leon |
|
Articles of association
Who signs
“• De heer Vanpoucke Leon, wonende te Den Helder 15, 8552 Moen, tot gedelegeerd bestuurder en voorzitter van de raad van bestuur. Algemene vertegenwoordigingsbevoegdheid In overeenstemming met de statuten wordt de vennootschap in en buiten rechte vertegenwoordigd door de raad van bestuur als college…”
Full text
• De heer Vanpoucke Leon, wonende te Den Helder 15, 8552 Moen, tot gedelegeerd bestuurder en voorzitter van de raad van bestuur. Algemene vertegenwoordigingsbevoegdheid In overeenstemming met de statuten wordt de vennootschap in en buiten rechte vertegenwoordigd door de raad van bestuur als college optredend ofwel door twee bestuurders, gezamenlijk optredend ofwel door de voorzitter van de raad van bestuur, alleen optredend. Dagelijks bestuur Voor daden van dagelijks bestuur wordt de vennootschap geldig vertegenwoordigd door de gedelegeerd bestuurder, afzonderlijk optredend.
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,800. 12,361 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded28-01-1985
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0427982113
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.