Equity
€68,895 ▲ 93.0%
GRELOG has made a profit in every financial year since 2023.
GRELOG
Lifetime
3 annual accounts with figures on one time axispeak €676,069 (2025)
€676,069▲ 198%
peak €33,190 (2025)
€33,190▲ 80.7%
peak €68,895 (2025)
€68,895▲ 93.0%
€288,171▲ 9.4%
Board1 name since 2023
1 directorGENOV Gregor Grigorov
Documentsfilings and deeds
28-07-20263 days before the deadline
2025micro format
Gross margin from €226,928 to €676,069Result from €18,369 to €33,190Equity from €35,704 to €68,895Cash from €43,626 to €175,163
Key points
from the 2025 annual accountsTurnover
≈ €1.4m estimated
The micro format states no turnover.
Debts
€288,171 81% of the balance sheet
Financial debts 18%Suppliers 23%Taxes and wages 46%Other 13%
Of this, €235,732 falls due within a year.
Staff
14.9 FTE ▲ 176%
More staff in 2025 from 5.4 FTE to 14.9 FTE.
Filings
3 annual accounts 1 late
The 2023 accounts came 48 days late. The other two were filed on time.
Position in the sector
€33,190
Higher net result than 86% of companies in postal and courier. Sector median €5,100 · 631 companies.
Checked score
55
Fair
Financially stronger than 66% of micro companies in postal and courier (NACE 53)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
2.1% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 2.6% across 916 companies (NACE 53, micro).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.7%
01-2025: 3.7%● unchanged vs 12-2024
02-2025: 3.9%▲ +0.2 percentage points vs 01-2025
03-2025: 4.0%▲ +0.1 percentage points vs 02-2025
04-2025: 4.0%● unchanged vs 03-2025
05-2025: 4.0%● unchanged vs 04-2025
06-2025: 3.9%▼ -0.1 percentage points vs 05-2025
07-2025: 4.1%▲ +0.2 percentage points vs 06-2025highest value
08-2025: 3.7%▼ -0.4 percentage points vs 07-2025
09-2025: 3.7%● unchanged vs 08-2025
10-2025: 3.7%● unchanged vs 09-2025
11-2025: 3.7%● unchanged vs 10-2025
12-2025: 3.7%● unchanged vs 11-2025
01-2026: 3.6%▼ -0.1 percentage points vs 12-2025
02-2026: 3.7%▲ +0.1 percentage points vs 01-2026
03-2026: 3.6%▼ -0.1 percentage points vs 02-2026
04-2026: 3.7%▲ +0.1 percentage points vs 03-2026
05-2026: 3.8%▲ +0.1 percentage points vs 04-2026
06-2026: 3.7%▼ -0.1 percentage points vs 05-2026
07-2026: 3.7%● unchanged vs 06-2026
08-2026: 2.1%▼ -1.6 percentage points vs 07-2026lowest value
09-2026: 2.1%● unchanged vs 08-2026lowest value
10-2026: 2.1%● unchanged vs 09-2026
11-2026: 2.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
Sector: Postal and courier activities (NACE 53)
Founded in 2023
1 of the last 3 accounts late
lowers risk
Liquidity: current ratio 0.98, cash €175,163
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 53, micro). It does better than 34% of them on solvency, 78% on liquidity, 65% on profitability and 88% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the moderate class on 30-06-2025, 2.4% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,602 companies had the same profile as GRELOG has now. Each dot stands for 5 companies, two years later.
96.5%
were still trading
0.9%
stopped another way
2.3%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GRELOG itself: 2.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,602 companies, not a prediction for GRELOG. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €3,500 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.98 (0.91 in 2024), below 1. Short-term debt is 66% and cash 49.1% of total assets. 80.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 28-07-2026, 3 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
3 days early
2024
20 days early
2023
48 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 8 days after the deadline. In the sector (NACE 53), the median for financial year 2024 was 13 days after the deadline, and 56% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 July (3 of the last 3 accounts filed within 52 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0803782481
Incorporation
Founding capital of €6,000, 100 shares · Founder: GENOV Gregor Grigorov · Appointment: GENOV Gregor Grigorov (director) · published on 12-07-2023 · Gazette deed
First establishment
Leo Bruggemanstraat 17, Evergem
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GRELOG Evergem | €357,066 | €0.7m | 19.3% | - |
| Nuki Beveren-Kruibeke-Zwijndrecht | €323,501 | €0.4m | 13.6% | - |
| Armdistri Duffel | €366,804 | €1.0m | 21.5% | - |
| BGS Hemiksem | €460,177 | €0.6m | 57.7% | - |
| CARIGNEVA Diest | €349,785 | €0.5m | 14.9% | 3.9 |
| KZN GROUP Etterbeek | €481,656 | €0.6m | 32.7% | - |
| EXPRESSY Bilzen-Hoeselt | €457,895 | €1.0m | 36.5% | 19.5 |
These companies have the same main activity as GRELOG: other postal and courier activities (NACE 53200). They are comparable in size and age: total assets between €324,000 and €482,000, founded between 2022 and 2024.
Official details
Source: KBO- Status
- Active since 10-07-2023Normal situation
- Activity
- Other postal and courier activitiesNACE 53200and 5 others
- Establishment unit
- 2.348.444.9279940 Evergem, since 10-07-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 12-05-2025
Annual accounts 2025
- €357,066▲ 19.4%
- Employeeson 31-12-2025
- 21▲ 90.9%
- Filing
- Filed on 28-07-2026, 3 days before the end of the filing period
Insights on GRELOG
GRELOG files the micro format. That format states no turnover. The gross margin rose from €31,441 in 2023 to €676,069 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about GRELOG
- What is the company number of GRELOG?
- The company number of GRELOG is 0803.782.481. The VAT number is the same number with BE in front: BE 0803.782.481.
- Where is GRELOG based?
- The registered office is at Leo Bruggemanstraat 17, 9940 Evergem.Company details
- What does GRELOG do?
- According to the KBO register, the main activity is other postal and courier activities (NACE 53200).
- What is the legal form of GRELOG?
- GRELOG is a private limited company (BV).
- When was GRELOG founded?
- GRELOG was founded on 10-07-2023.
- Is GRELOG still active?
- Yes, GRELOG is an active enterprise in the KBO register.
- How many employees does GRELOG have?
- GRELOG had an average of 14.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of GRELOG?
- The turnover in financial year 2025 is ≈ €1.4m. This figure is estimated from the gross margin of €676,069 and 878 comparable companies of the same size. It probably lies between €940,000 and €2.0m. It is a rough estimate.
- Is GRELOG profitable?
- In financial year 2025, GRELOG made a profit of €33,190.
- Where can I find the annual accounts of GRELOG?
- GRELOG filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of GRELOG due?
- GRELOG must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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