Equity
-€907,335
Debts exceed assets in financial year 2025.
GRIDPOWER
Lifetime
1 annual account with figurespeak -€1,687 (2025)
-€1,687
lowest -€922,335 (2025)
-€922,335
peak -€907,335 (2025)
-€907,335
€9.5m
Board2 names since 2024
2 directorsFRINGLOOS and 1 other
Owners2 names in the annual accounts
50%FRINGLOOS
Documentsfilings and deeds
30-06-202631 days before the deadline
2025micro format
Loss of €922,335First year with figures
Key points
from the 2025 annual accountsDebts
€9.5m 111% of the balance sheet
Financial debts 76%Suppliers 8%Other 17%
Of this, €1.9m falls due within a year.
Position in the sector
-€922,335
Lower net result than 95% of companies in electricity, gas and steam. Sector median €5,897 · 229 companies.
Turnover not published (micro format)
Checked score
52
Fair
Financially stronger than 12% of small companies in electricity, gas and steam (NACE 35)
Probability in this band: 1.5% to 4.2%
Bankruptcy probability within 12 months
1.8% Moderate
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 253 companies (NACE 35, small).
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
10-2025: 2.1%
11-2025: 2.1%● unchanged vs 10-2025
12-2025: 2.2%▲ +0.1 percentage points vs 11-2025
01-2026: 2.3%▲ +0.1 percentage points vs 12-2025
02-2026: 2.5%▲ +0.2 percentage points vs 01-2026
03-2026: 2.8%▲ +0.3 percentage points vs 02-2026
04-2026: 3.0%▲ +0.2 percentage points vs 03-2026highest value
05-2026: 3.0%● unchanged vs 04-2026highest value
06-2026: 3.0%● unchanged vs 05-2026
07-2026: 1.7%▼ -1.3 percentage points vs 06-2026lowest value
08-2026: 1.8%▲ +0.1 percentage points vs 07-2026
09-2026: 1.8%● unchanged vs 08-2026
10-2026: 1.8%● unchanged vs 09-2026
11-2026: 1.8%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.26, cash €11,140
No registered site in the KBO
Negative equity -€907,335
lowers risk
Size: total assets €8.6m
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 35, small). It does better than 4% of them on solvency, 27% on liquidity and 4% on profitability.
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, 252 companies had the same profile as GRIDPOWER has now. Each dot is one company, two years later.
85.3%
were still trading
6.7%
stopped another way
7.1%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of GRIDPOWER itself: 1.8% 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 252 companies, not a prediction for GRIDPOWER. 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
No credit on open account
Liquidity is insufficient, with a current ratio of 0.26, below 1. Short-term debt is 22.4% and cash 0.1% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
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 30-06-2026, 31 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
31 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Board and ownership
- FRINGLOOS 50%equity €2.0m (2025) · 2025 annual accounts of FRINGLOOS
- Sequentia Invest 50%score 82equity €17.5m (2026) · 31-03-2026 annual accounts of Sequentia Invest
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1013745218
Incorporation
Founding capital of €15,000, 300 shares · Founders: SEQUENTIA INVEST and FRINGLOOS · Appointments: SEQUENTIA INVEST (director) and FRINGLOOS (director) · published on 20-09-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| GRIDPOWER Kortemark | €8.6m | -€1,687 | -10.6% | - |
| Elicio Vent de Sambre Ostend | €17.9m | -€21,432 | 5.5% | - |
| HS Promotion Brussels | €5.6m | -€9,011 | -7.2% | - |
| Darwin Projects Hoeilaart | €3.0m | -€9,487 | 6.2% | - |
| GIGA Green Turtle Kinrooi | €26.9m | -€18,992 | -5.0% | - |
| UKKO ENERGY Liège | €2.2m | -€373,654 | 87.6% | 0.1 |
| MVA Energy Belgium Waregem | €2.8m | -€538,053 | -62.7% | 0 |
These companies have the same main activity as GRIDPOWER: production of electricity from non-renewable sources (NACE 35110). They are comparable in size and age: total assets between €2.2m and €27m, founded between 2023 and 2025.
Official details
Source: KBO- Status
- Active since 18-09-2024Normal situation
- Activity
- Production of electricity from non-renewable sourcesNACE 35110
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- €8.6m
- Filing
- Filed on 30-06-2026, 31 days before the end of the filing period
Insights on GRIDPOWER
The computed 12-month bankruptcy probability of GRIDPOWER is 1.8% (moderate). The 2025 annual accounts show negative equity (-€907,335) and a net result of -€922,335.
Its solvency ranks better than 10% of 229 sector peers (NACE 35, financial year 2025). The company has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals.
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 GRIDPOWER
- What is the company number of GRIDPOWER?
- The company number of GRIDPOWER is 1013.745.218. The VAT number is the same number with BE in front: BE 1013.745.218.
- Where is GRIDPOWER based?
- The registered office is at Hoogledestraat 122B, 8610 Kortemark.Company details
- What does GRIDPOWER do?
- According to the KBO register, the main activity is production of electricity from non-renewable sources (NACE 35110).
- What is the legal form of GRIDPOWER?
- GRIDPOWER is a private limited company (BV).
- When was GRIDPOWER founded?
- GRIDPOWER was founded on 18-09-2024.
- Is GRIDPOWER still active?
- Yes, GRIDPOWER is an active enterprise in the KBO register.
- What is the turnover of GRIDPOWER?
- The annual accounts for financial year 2025 state no turnover. The micro format does not require it.Financials
- Is GRIDPOWER profitable?
- In financial year 2025, GRIDPOWER made a loss of €922,335.
- Where can I find the annual accounts of GRIDPOWER?
- GRIDPOWER filed 1 annual account with the National Bank of Belgium, for financial year 2025.
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