Grinfeld
ActiveSummary
Grinfeld has the legal form “Partnership limited by shares” in the KBO. Checked does not compute a bankruptcy probability for it. The 2025 annual accounts show negative equity (-€150,948) and a net result of €40,274. Equity has been shrinking by about 5% per year since 2018. Its solvency ranks better than 9% of 11,261 sector peers (NACE 68, financial year 2025). The company has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 28-07-1999 Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housing NACE 68201
- Joint committee
- 323 Paritair Comité voor het beheer van gebouwen, de vastgoedmakelaars en de dienstboden · annual accounts 2025
- Establishment unit
- 2.092.916.045 9100 Sint-Niklaas, since 24-11-1999
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Financial position
Bankruptcy probability: legal form outside the model
Annual accounts 2025
- Turnover
- €174,078
- ▲ 28.8%
- Profit
- €40,274
- Equity
- -€150,948
- ▲ 21.1%
- Total assets
- €1.1m
- ▼ 1.5%
- Employees on 31-12-2025
- 1
- =
- Negative equity on 31-12-2025
Signalsraises riskWeak solvency compared with the sectorneutralLatest accounts filed on timeShow the evidence
Checked score
Score 2025
33
/ 100
Weak
Without a bankruptcy probability, the score rests on the figures alone.
Financial strength · tick: 2024
Weak
Solvency
11+4
equity -14.1% of total assets
Liquidity
11+1
short-term debt 75.9% · cash 1.7%
Profitability
78+70
return on assets 3.8%
Bankruptcy probability within 12 months
The KBO gives the legal form as “Partnership limited by shares”. There is no bankruptcy probability for it. The model is built on companies and gives no reliable figure for this form.
No credit on open account
Liquidity is insufficient, with a current ratio of 0.03 (0.01 in 2024), below 1. Short-term debt is 75.9% and cash 1.7% of total assets. Equity is negative.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Two signals.
raises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 11261 sector peers (2025).
NBB · sector comparisonPosition among 11261 sector peers
Solvency
better than 9%
← 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 23-06-2026, 38 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
38 days early
2024
44 days early
2023
44 days early
2022
41 days early
2021
26 days early
2020
43 days early
2019
44 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 40 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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 20 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
03-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 26 filings
Turnover
€174,078▲ 28.8%
2024 · €135,134
EBIT margin
33.1%▲ 71.1pp
2024 · -38.0%
Net result
€40,274
2024 · -€59,556
Working capital
-€789,705▲ 1.8%
2024 · -€804,083
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€174,078
▲ 28.8%
2025
20182025
Operating result
€57,653
2025
20182025
Net result
€40,274
2025
middle half of the sector
20182025
EBIT margin
33.1%
▲ 71.1pp
2025
20182025
Equity
-€150,948
▲ 21.1%
2025
lowest quarter of the sector
20182025
Total assets
€1.1m
▼ 1.5%
2025
middle half of the sector
20182025
Debt
€1.2m
▼ 4.4%
2025
20182025
Working capital
-€789,705
▲ 1.8%
2025
lowest quarter of the sector
20182025
Solvency
-14.1%
▲ 3.5pp
2025
lowest quarter of the sector
20182025
Current ratio
0.03
▲ 0.02
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
3.8%
▲ 9.2pp
2025
middle half of the sector
20182025
Staff (FTE)
1
=
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.06m-€0.08m▲ 37.1%€0.08m▼ 6.6%€0.09m▲ 12.6%€0.08m▼ 1.4%€0.09m▲ 1.8%€0.1m▲ 56.9%€0.2m▲ 28.8%
Operating result-€0.03m--€0.01m▲ 64.1%-€0.03m▼ 183%€0.01m€0.01m▲ 13.4%-€0.003m-€0.05m▼ 1,553%€0.06m
Net result-€0.03m--€0.01m▲ 64.1%-€0.03mbelow the sector's middle half▼ 183%€0.01mwithin the sector's middle half€0.01mwithin the sector's middle half▲ 12.7%-€0.003mwithin the sector's middle half-€0.06mbelow the sector's middle half▼ 1,770%€0.04mwithin the sector's middle half
EBIT margin-57.5%--15.0%▲ 42.4pp-45.6%▼ 30.6pp11.3%▲ 56.9pp13.0%▲ 1.7pp-3.6%▼ 16.6pp-38.0%▼ 34.4pp33.1%▲ 71.1pp
Equity-€0.1m--€0.1m▼ 12.0%-€0.1mbelow the sector's middle half▼ 30.4%-€0.1mbelow the sector's middle half▲ 6.5%-€0.1mbelow the sector's middle half▲ 7.8%-€0.1mbelow the sector's middle half▼ 2.5%-€0.2mbelow the sector's middle half▼ 45.2%-€0.2mbelow the sector's middle half▲ 21.1%
Total assets€0.6m-€0.6m▼ 4.7%€0.6mwithin the sector's middle half▼ 7.9%€0.6mwithin the sector's middle half▼ 0.2%€0.6mwithin the sector's middle half▼ 0.8%€0.6mwithin the sector's middle half▲ 1.1%€1.1mwithin the sector's middle half▲ 92.1%€1.1mwithin the sector's middle half▼ 1.5%
Debt€0.7m-€0.7m▼ 2.4%€0.7m▼ 1.9%€0.7m▼ 1.5%€0.7m▼ 2.2%€0.7m▲ 1.4%€1.3m▲ 83.3%€1.2m▼ 4.4%
Working capital-€0.7m--€0.7m▲ 2.9%-€0.7mbelow the sector's middle half▲ 0.3%-€0.7mbelow the sector's middle half▲ 3.0%-€0.7mbelow the sector's middle half▼ 0.4%-€0.7mbelow the sector's middle half▲ 0.8%-€0.8mbelow the sector's middle half▼ 21.2%-€0.8mbelow the sector's middle half▲ 1.8%
Solvency-15.8%--18.6%▼ 2.8pp-26.3%below the sector's middle half▼ 7.7pp-24.7%below the sector's middle half▲ 1.7pp-22.9%below the sector's middle half▲ 1.8pp-23.2%below the sector's middle half▼ 0.3pp-17.5%below the sector's middle half▲ 5.7pp-14.1%below the sector's middle half▲ 3.5pp
Current ratio0.05-0.06▲ 0.010.04below the sector's middle half▼ 0.020.05below the sector's middle half▲ 0.010.03below the sector's middle half▼ 0.020.05below the sector's middle half▲ 0.020.01below the sector's middle half▼ 0.040.03below the sector's middle half▲ 0.02
Return on assets (ROA)-5.3%--2.0%▲ 3.3pp-6.1%below the sector's middle half▼ 4.1pp1.7%within the sector's middle half▲ 7.9pp1.9%within the sector's middle half▲ 0.2pp-0.6%within the sector's middle half▼ 2.5pp-5.5%below the sector's middle half▼ 4.9pp3.8%within the sector's middle half▲ 9.2pp
Staff (FTE)1-1=1within the sector's middle half=1=1=1=1=1within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a profit of €57,653, after a loss of €51,298 in 2024. It is the highest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€1.0m ▼ 2.8%
Current assets
€25,007 ▲ 122%
Equity and liabilities
Equity-€150,948
Debt€1.2m
Equity is negative. Debt (€1.2m) exceeds the balance-sheet total (€1.1m).
Key figures and ratios
EBITDA
€92,068▲
2024 · -€21,122
Cash flow
€74,689▲
2024 · -€29,380
Interest coverage
5.28▲
2024 · -2.55
Debt ≤ 1 year
€814,712▼
2024 · €815,347
Debt > 1 year
€410,056▼
2024 · €466,011
Income taxes
€23▲
2024 · -€8
Customer credit
1 day▲
2024 · 0 days
Supplier credit
1 day▼
2024 · 1 day
Staff costs
€48,344▲
2024 · €46,316
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €8,446 | €33,368 | €14,618 | €577,049 | €4,356 |
| Depreciation and write-downs of the year | €19,284 | €19,802 | €23,207 | €30,176 | €34,415 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €59,530 | €81,627 | €76,240 | €85,875 | €84,659 | €86,141 | €135,134 | €174,078 | ▲ 28.8% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €10,712 | €10,710 | €12,560 | €102,578 | €20,596 | ▼ 79.9% |
| Remuneration, social security and pensions62 | - | - | - | €39,577 | €38,273 | €46,149 | €46,316 | €48,344 | ▲ 4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,899 | €41,763 | €36,607 | €19,284 | €19,802 | €23,207 | €30,176 | €34,415 | ▲ 14.0% |
| Other operating charges640/8 | - | - | - | €6,636 | €6,776 | €7,380 | €9,971 | €13,712 | ▲ 37.5% |
| Gross operating margin9900 | €50,736 | €74,007 | €63,896 | €75,208 | €75,862 | €73,633 | €35,165 | €154,124 | ▲ 338% |
| Operating profit (loss)9901 | -€34,218 | -€12,272 | -€34,788 | €9,711 | €11,011 | -€3,103 | -€51,298 | €57,653 | - |
| Financial income75/76B | - | - | - | €3 | €3 | €42 | €17 | €94 | ▲ 453% |
| Recurring financial income75 | €6 | €5 | - | €3 | €3 | €42 | €17 | €94 | ▲ 453% |
| Financial charges65/66B | - | - | - | €12 | €82 | €111 | €8,283 | €17,450 | ▲ 111% |
| Recurring financial charges65 | €9 | €22 | €14 | €12 | €82 | €111 | €8,283 | €17,450 | ▲ 111% |
| Profit (loss) for the period before taxes9903 | -€34,221 | -€12,289 | -€34,802 | €9,702 | €10,932 | -€3,172 | -€59,564 | €40,297 | - |
| Income taxes67/77 | €2 | -€1 | - | - | - | €13 | -€8 | €23 | - |
| Profit (loss) for the period9904 | -€34,223 | -€12,288 | -€34,802 | €9,702 | €10,932 | -€3,185 | -€59,556 | €40,274 | - |
| Profit (loss) for the period to be appropriated9905 | -€34,223 | -€12,288 | -€34,802 | €9,702 | €10,932 | -€3,185 | -€59,556 | €40,274 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €1.1m | €1.1m | ▼ 1.5% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | €1.1m | €1.0m | ▼ 2.8% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | €1.1m | €1.0m | ▼ 2.8% |
| Land and buildings22 | - | - | - | €0.5m | €0.5m | €0.5m | €1.1m | €1.0m | ▼ 2.8% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0.001m | €0.001m | €479 | €177 | ▼ 63.0% |
| Current assets29/58 | €0.04m | €0.04m | €0.03m | €0.04m | €0.02m | €0.04m | €0.01m | €0.03m | ▲ 122% |
| Amounts receivable within one year40/41 | €0.02m | €0.02m | - | €0.001m | €283 | €0.03m | €12 | €346 | ▲ 29× |
| Trade receivables40 | - | - | - | €0.001m | €283 | €0.03m | - | €340 | - |
| Other amounts receivable41 | - | - | - | - | - | €10 | €12 | €6 | ▼ 50.0% |
| Current investments50/53 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.01m | €0.006m | €0.006m | ▲ 1.2% |
| Cash at bank and in hand54/58 | €0.02m | €0.02m | €0.02m | €0.03m | €0.01m | - | €0.005m | €0.02m | ▲ 249% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €1.1m | €1.1m | ▼ 1.5% |
| Equity10/15 | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.2m | -€0.2m | ▲ 21.1% |
| Contributions10/11 | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Capital10 | - | - | - | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Issued capital100 | - | - | - | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.3m | -€0.2m | ▲ 14.5% |
| Amounts payable17/49 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €1.3m | €1.2m | ▼ 4.4% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €0.5m | €0.4m | ▼ 12.0% |
| Financial debts170/4 | - | - | - | - | - | - | €0.5m | €0.4m | ▼ 12.0% |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.8m | €0.8m | ▼ 0.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €0.06m | €0.06m | ▲ 3.0% |
| Trade debts44 | €0.001m | €76 | €40 | €14 | €417 | €182 | €285 | €50 | ▼ 82.5% |
| Suppliers440/4 | - | - | - | €14 | €417 | €182 | €285 | €50 | ▼ 82.5% |
| Taxes, remuneration and social security45 | - | - | - | €0.009m | €0.006m | €0.01m | €0.01m | €0.01m | ▼ 22.4% |
| Taxes450/3 | - | - | - | €0.001m | - | €0.002m | €0.002m | €0.001m | ▼ 37.9% |
| Remuneration and social security454/9 | - | - | - | €0.008m | €0.006m | €0.01m | €0.01m | €0.009m | ▼ 20.1% |
| Other amounts payable47/48 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 0.1% |
| Accrued charges and deferred income492/3 | - | - | - | €280 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€34,223 | -€12,288 | -€34,802 | €9,702 | €10,932 | -€3,185 | -€59,556 | €40,274 | - |
| + Depreciation and write-downs630 | €40,899 | €41,763 | €36,607 | €19,284 | €19,802 | €23,207 | €30,176 | €34,415 | ▲ 14.0% |
| Operating cash flow (approximation) | €6,676 | €29,475 | €1,805 | €28,986 | €30,734 | €20,022 | -€29,380 | €74,689 | - |
| Investment in fixed assets (approximation) | - | -€8,636 | €0 | -€8,446 | -€33,368 | -€14,618 | -€577,049 | -€4,356 | ▲ 99.2% |
| Change in cash | - | €1,285 | €5,751 | €8,184 | -€16,751 | - | - | €13,338 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 23-06-2026 | 2026-00186715 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00144553 | |
| 31-12-2023 | micro format | 17-06-2024 | 2024-00133698 | |
| 31-12-2022 | micro format | 20-06-2023 | 2023-00138164 | |
| 31-12-2021 | micro format | 05-07-2022 | 2022-20134806 | |
| 31-12-2020 | micro format | 18-06-2021 | 2021-21300456 | |
| 31-12-2019 | micro format | 17-06-2020 | 2020-17900056 | |
| 31-12-2018 | micro format | 18-06-2019 | 2019-19600419 | |
| 31-12-2017 | micro format | 20-06-2018 | 2018-21100563 | |
| 31-12-2016 | micro format | 21-06-2017 | 2017-19300450 |
Board & ownership
Directors
Directors
1 director
Grinfeld Eliane
Current
Director · listed in the 2025 annual accounts, filed on 23-06-2026
Owners and capital
Owners
Network & group
Grinfeld shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of Grinfeld. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
23-06
abbreviated format · 38 days before the deadline
2025
31-12
Financial
Back to profitnet €40,274
The net result is €40,274, after 2 loss-making years.
17-06
micro format · 44 days before the deadline
2024
31-12
Financial
Weakest financial yearnet -€59,556
The net result drops to -€59,556, the lowest from 2018 to 2025. It recovers the following year.
17-06
micro format · 44 days before the deadline
2023
20-06
micro format · 41 days before the deadline
2022
05-07
micro format · 26 days before the deadline
2021
31-12
Financial
Back to profitnet €9,702
The net result is €9,702, after 3 loss-making years.
18-06
micro format · 43 days before the deadline
2020
17-06
micro format · 44 days before the deadline
2019
18-06
micro format · 43 days before the deadline
2018
20-06
micro format · 41 days before the deadline
2017
21-06
micro format · 40 days before the deadline
1999
06-08
Gazette deed
Incorporation
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Grinfeld in Dutch
Enterprise number
0466.622.656
Legal form
Partnership limited by shares
Status
Active, normale toestand
Founded
28-07-1999
Entity type
Legal entity
Registered office and establishments
Registered office
Gustaaf De Ridderstraat 77, 9100 Sint-Niklaas, Belgium
Establishment unit
Gustaaf De Ridderstraat 77, 9100 Sint-Niklaas since 24-11-1999 · unit number 2.092.916.045
Activities
NACEBEL 202568201
Renting and operating of own or leased residential real estate, excluding social housing main activity
Codes under NACEBEL 2008
68201
Real estate activities main activity
Joint committee
323 Paritair Comité voor het beheer van gebouwen, de vastgoedmakelaars en de dienstboden annual accounts 2025
Invoicing and payment
VAT number
BE 0466.622.656
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
648 m²
Building footprint
183 m²
Building volume
777 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 46447B0646/00P000 | Flanders | 648 m² | 1 · 183 m² | 6.6 m · 1 |