GRENAT
ActiveSummary
The computed 12-month bankruptcy probability of GRENAT is 2.4% (moderate). The 2024 annual accounts show negative equity (-€18,872) and a net result of €1,185. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 837 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability47▲+47
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.61 against 0.48 in 2023; short-term debt: 152.9% and cash: 27.5% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 2024Solvency, return and age of the figures
Solvency
-52.9%
Return on assets
3.3%
Age of the figures
21 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 32
Relative position
BE, all sectors
reference
Other manufacturing (NACE 32)
about 28% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 837 sector peers (2024).
NBB · sector comparisonPosition among 837 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
28 d late
2023
23 d late
2022
25 d late
2021
30 d late
2020
202 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 62 days after the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 40% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€18,872▲ 5.9%
2023 · -€20,057
Total assets
€35,695▲ 61.3%
2023 · €22,125
Net result
€1,185
2023 · -€19,662
Working capital
-€21,341▲ 2.7%
2023 · -€21,936
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 32, Other manufacturing, 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
Line20202021202220232024
Operating result-€9,222-€2,271€4,598▲ 102%-€18,341€1,921
Net result-€10,661below the sector's middle half-€1,474within the sector's middle half€3,792within the sector's middle half▲ 157%-€19,662below the sector's middle half€1,185within the sector's middle half
Equity-€5,661below the sector's middle half--€4,187below the sector's middle half▲ 26.0%-€395below the sector's middle half▲ 90.6%-€20,057below the sector's middle half▼ 4,980%-€18,872below the sector's middle half▲ 5.9%
Total assets€58,679below the sector's middle half-€27,475below the sector's middle half▼ 53.2%€40,159below the sector's middle half▲ 46.2%€22,125below the sector's middle half▼ 44.9%€35,695below the sector's middle half▲ 61.3%
Debt€64,340-€31,662▼ 50.8%€40,554▲ 28.1%€42,182▲ 4.0%€54,567▲ 29.4%
Working capital€5,574-€6,126▲ 9.9%-€993-€21,936▼ 2,108%-€21,341▲ 2.7%
Solvency-9.6%below the sector's middle half--15.2%below the sector's middle half▼ 5.6pp-1.0%below the sector's middle half▲ 14.3pp-90.7%below the sector's middle half▼ 89.7pp-52.9%below the sector's middle half▲ 37.8pp
above
within
below
the middle half (P25 to P75) of NACE 32, Other manufacturing, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €1,921 after a loss of €18,341 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €35,695
Fixed assets
€2,469 ▲ 31.4%
Current assets
€33,227 ▲ 64.1%
Key figures and ratios
EBITDA
€2,157▲
2023 · -€17,921
Cash flow
€1,421▲
2023 · -€19,242
Current ratio
0.61▲
2023 · 0.48
Quick ratio
0.24▲
2023 · 0.24
Debt to equity
-2.89▼
2023 · -2.10
ROA
3.3%▲
2023 · -88.9%
Interest coverage
2.92▲
2023 · -13.57
Debt ≤ 1 year
€54,567▲
2023 · €42,182
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 908 companies that looked in July 2024 the way this one looks now, 5.9% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit under 5% of the balance sheet
5.9%
went bankrupt
3.9%
stopped otherwise
89%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.4% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 908 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €242 | €420 | €420 | €236 | ▼ 43.9% |
| Other operating charges640/8 | - | €367 | €909 | €384 | €971 | ▲ 153% |
| Gross operating margin9900 | -€8,490 | €2,881 | €5,927 | -€17,537 | €3,128 | ▲ 118% |
| Operating profit (loss)9901 | -€9,222 | €2,271 | €4,598 | -€18,341 | €1,921 | ▲ 110% |
| Financial income75/76B | - | €132 | - | - | €2 | - |
| Recurring financial income75 | €18 | €132 | - | - | €2 | - |
| Financial charges65/66B | - | €929 | €806 | €1,321 | €738 | ▼ 44.2% |
| Recurring financial charges65 | €1,457 | €929 | €806 | €1,321 | €738 | ▼ 44.2% |
| Profit (loss) for the period before taxes9903 | -€10,661 | €1,474 | €3,792 | -€19,662 | €1,185 | ▲ 106% |
| Profit (loss) for the period9904 | -€10,661 | €1,474 | €3,792 | -€19,662 | €1,185 | ▲ 106% |
| Profit (loss) for the period to be appropriated9905 | -€10,661 | €1,474 | €3,792 | -€19,662 | €1,185 | ▲ 106% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58,679 | €27,475 | €40,159 | €22,125 | €35,695 | ▲ 61.3% |
| Fixed assets21/28 | €100 | €1,019 | €599 | €1,879 | €2,469 | ▲ 31.4% |
| Tangible fixed assets22/27 | - | €1,019 | €599 | €179 | €769 | ▲ 331% |
| Furniture and vehicles24 | - | €1,019 | €599 | €179 | €769 | ▲ 331% |
| Financial fixed assets28 | €100 | - | - | €1,700 | €1,700 | = |
| Current assets29/58 | €58,579 | €26,457 | €39,561 | €20,247 | €33,227 | ▲ 64.1% |
| Stocks and contracts in progress3 | - | €11,980 | €13,550 | €10,328 | €19,924 | ▲ 92.9% |
| Stocks30/36 | - | €11,980 | €13,550 | €10,328 | €19,924 | ▲ 92.9% |
| Amounts receivable within one year40/41 | €47,175 | €7,344 | €12,887 | €3,930 | €3,383 | ▼ 13.9% |
| Trade receivables40 | - | €7,344 | €12,887 | €2,571 | €2,024 | ▼ 21.3% |
| Other amounts receivable41 | - | - | - | €1,359 | €1,359 | = |
| Cash at bank and in hand54/58 | €11,354 | €7,118 | €13,124 | €5,899 | €9,825 | ▲ 66.6% |
| Deferred charges and accrued income490/1 | - | €15 | - | €90 | €95 | ▲ 5.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58,679 | €27,475 | €40,159 | €22,125 | €35,695 | ▲ 61.3% |
| Equity10/15 | -€5,661 | -€4,187 | -€395 | -€20,057 | -€18,872 | ▲ 5.9% |
| Contributions10/11 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€10,661 | -€9,187 | -€5,395 | -€25,057 | -€23,872 | ▲ 4.7% |
| Amounts payable17/49 | €64,340 | €31,662 | €40,554 | €42,182 | €54,567 | ▲ 29.4% |
| Amounts payable within one year42/48 | €53,005 | €20,331 | €40,554 | €42,182 | €54,567 | ▲ 29.4% |
| Trade debts44 | €50,439 | €9,884 | €12,968 | €6,589 | €8,976 | ▲ 36.2% |
| Suppliers440/4 | - | €9,884 | €12,968 | €6,589 | €8,976 | ▲ 36.2% |
| Advances received on contracts in progress46 | - | - | - | - | €8,950 | - |
| Taxes, remuneration and social security45 | - | €14 | €5,239 | €9,996 | €5,684 | ▼ 43.1% |
| Taxes450/3 | - | €14 | €5,239 | €5,005 | €5,684 | ▲ 13.6% |
| Remuneration and social security454/9 | - | - | - | €4,990 | - | - |
| Other amounts payable47/48 | - | €10,433 | €22,347 | €25,597 | €30,957 | ▲ 20.9% |
| Accrued charges and deferred income492/3 | - | €11,331 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,661 | €1,474 | €3,792 | -€19,662 | €1,185 | ▲ 106% |
| + Depreciation and write-downs630 | - | €242 | €420 | €420 | €236 | ▼ 43.9% |
| Operating cash flow (approximation) | -€10,661 | €1,716 | €4,212 | -€19,242 | €1,421 | ▲ 107% |
| Investment in fixed assets (approximation) | - | -€1,160 | €0 | -€1,700 | -€826 | ▲ 51.4% |
| Change in cash | - | -€4,236 | €6,006 | -€7,225 | €3,926 | ▲ 154% |
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
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Back to profitnet €1,185
Net result €1,185 after one loss-making year.
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
31-12
Financial
Weakest financial yearnet -€19,662
Net result drops to -€19,662, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
31-12
Financial
Highest result since 2020net €3,792 ▲157%
Operating result €4,598, net result €3,792, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
18-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 202 days late
2021
31-12
Financial
Back to profitnet €1,474
Net result €1,474 after one loss-making year.
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Elsene · 1 establishment unit since 2019
Ground area
93 m²
Building footprint
93 m²
Volume, LiDAR
1,112 m³
Parcel 21009A0546/00X000, Brussels · tallest building 16.8 m, ±4 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
GRENAT
since 20192.290.475.153
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0546/00X000 | Brussels | 92 m² | 1 · 93 m² | 16.8 m · 4 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.
Public money · subsidies and aid
Wallonia-Brussels Federation
2024 · 1 entry · 1,000 EUR in total| Year | Entries | paid |
|---|---|---|
| 2024 | 1 | 1,000 EUR |
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,530 companies in sector 32123 we hold annual accounts for 225. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded22-05-2019
Fiscal year end31-12
Abbreviation FR
SARA ESTHER
Activities, NACEBEL 2025
32123Manufacture of jewellery
46190Agents in non-specialised wholesale trade
47559Retail sale of other household articles
74140Other specialised design activities
82300Organisation of conventions and trade shows
82990Other business support services
Contact
E-mail
a.unal@notabel.info
E-invoicing
Reachable via Peppol
Peppol ID
0208:0726995796
Registered
23-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.