GRELUC
ActiveGRELUC has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-98k) and a net result of €-61k. Equity is shrinking by ~62.2% per year across the filed fiscal years. Its solvency ranks better than 17% of 18173 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
25
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability5▼-52
Solvency7▼-13
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.75 against 0.89 in 2024; short-term debt: 112.1% and cash: 0% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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
-18%
Return on assets
-11.2%
Age of the figures
18 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-98k
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 18-12-2025, 48 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
48 d late
2024
54 d late
2023
30 d late
2022
30 d late
2021
29 d late
2020
30 d late
2019
19 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close19-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€-98k▼ 167%
2024 · €-37k
2019: €13k
2020: €-2k
2021: €-192
2022: €-29k
2023: €-62k
2024: €-37k
2019 → 2025
Total assets
€545k▼ 29.6%
2024 · €774k
2019: €733k
2020: €710k
2021: €732k
2022: €791k
2023: €763k
2024: €774k
2019 → 2025
Net result
€-61k
2024 · €25k
2019: €1k
2020: €-15k
2021: €1k
2022: €-29k
2023: €-33k
2024: €25k
2019 → 2025
Working capital
€-154k▼ 86.5%
2024 · €-83k
2019: €62k
2020: €-34k
2021: €-13k
2022: €-60k
2023: €-102k
2024: €-83k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-192-€-29k▼ 14,853%€-62k▼ 117%€-37k▲ 40.9%€-98k▼ 167%
Operating result€12k-€-8k€-21k▼ 155%€32k€-50k
Net result€1k-€-29k€-33k▼ 17.3%€25k€-61k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €50k after €32k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €545k
Fixed assets
€88k▼ 13.4%
Current assets
€457k▼ 32.0%
Key figures and ratios
EBITDA
€-36k▼
2024 · €45k
Cash flow
€-48k▼
2024 · €39k
Solvency
-18.0%▼
2024 · -4.7%
Current ratio
0.75▼
2024 · 0.89
Quick ratio
0.01▼
2024 · 0.02
Debt / equity
-6.57▲
2024 · -22.07
ROA
-11.2%▼
2024 · 3.3%
Interest coverage
-3.11▼
2024 · 4.05
Debt
€643k▼
2024 · €811k
Debt ≤ 1 year
€611k▼
2024 · €755k
Debt > 1 year
€32k=
2024 · €32k
Staff costs
€73k▼
2024 · €85k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€774k€545k▼
Fixed assets21/28€102k€88k▼
Tangible fixed assets22/27€91k€77k▼
Land and buildings22€3k€3k▼
Furniture and vehicles24€87k€74k▼
Financial fixed assets28€11k€11k=
Current assets29/58€672k€457k▼
Stocks and contracts in progress3€658k€451k▼
Stocks30/36€658k€451k▼
Amounts receivable within one year40/41€14k-
Trade receivables40€9k-
Other amounts receivable41€5k-
Cash at bank and in hand54/58€22€265▲
Deferred charges and accrued income490/1€397€5k▲
Equity and liabilities
Total equity and liabilities10/49€774k€545k▼
Equity10/15€-37k€-98k▼
Contributions10/11€19k€19k=
Profit (loss) carried forward14€-55k€-116k▼
Amounts payable17/49€811k€643k▼
Amounts payable after more than one year17€32k€32k=
Financial debts170/4€32k€32k=
Amounts payable within one year42/48€755k€611k▼
Current portion of amounts payable after more than one year42€31k-
Financial debts43€98k€99k▲
Credit institutions430/8€98k€99k▲
Trade debts44€142k€37k▼
Suppliers440/4€142k€37k▼
Taxes, remuneration and social security45€40k€23k▼
Taxes450/3€24k€18k▼
Remuneration and social security454/9€16k€5k▼
Other amounts payable47/48€443k€453k▲
Accrued charges and deferred income492/3€24k-
Income statement
Code20242025
Remuneration, social security and pensions62€85k€73k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€14k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€132k€38k▼
Operating profit (loss)9901€32k€-50k▼
Financial income75/76B€5k€379▼
Recurring financial income75€5k€379▼
Financial charges65/66B€11k€12k▲
Recurring financial charges65€11k€12k▲
Profit (loss) for the period before taxes9903€25k€-61k▼
Profit (loss) for the period9904€25k€-61k▼
Profit (loss) for the period to be appropriated9905€25k€-61k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-55k€-116k▼
Profit (loss) brought forward from the previous period14P€-81k€-55k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
18-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 48 days late
31-03
Financial
Weakest financial yearnet €-61k ▼340%
Net result drops to €-61k, the lowest in the series.
2024
24-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 54 days late
31-03
Financial
Back to profitnet €25k
Net result €25k after 2 loss-making years.
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2022
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2021
29-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
31-03
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2019
19-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2018
09-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 9 days late
2017
20-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 20 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Lanaken · 1 establishment unit since 2016
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Arkstraat 613620 LanakenGround area
2,046 m²
Building footprint
269 m²
Volume, LiDAR
2,081 m³
Parcel 73042D0917/00T004, Flanders · tallest building 12.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Juwelen Esterella
since 20162.251.231.824
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73042D0917/00T004 | Flanders | 2,046 m² | 1 · 269 m² | 12.9 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Dual-learning approval
6 endedSimilar companies · same sector, comparable size
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EPIDERME
BE 0438.545.215
Elsene · Eq €14k
ÂBEER
BE 0647.861.416
Antwerpen · Eq €15k
Facility Consulting
BE 0578.883.330
Anderlecht · Eq €15k
Of 411 companies in sector 47722 we hold annual accounts for 166. 85 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-03-2016
Fiscal year end31-03
Activities, NACEBEL
47722Retail trade
47715Retail trade
47770Retail sale of watches and jewellery
Sources
Crossroads Bank for EnterprisesNational Bank · 9 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:info@esterella.be