GRIP
ActiveSummary
GRIP has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €118k and a net result of €99k. Equity is growing by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 21% of 524 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▼-10
Solvency39▼-19
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7k at 30 days acceptable
Liquidity short (current ratio 0.77 against 1.54 in 2024; short-term debt: 62.8% and cash: 9.3% of total assets), and 86.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Scientific research and development (NACE 72)
about 30% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
13.6%
Return on assets
11.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 524 sector peers (2025).
NBB · sector comparisonPosition among 524 sector peers
Solvency
better than 21%
← 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 24-07-2026, 7 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
7 d early
2024
29 d early
2023
54 d early
2022
49 d early
2021
22 d late
2020
15 d early
2019
7 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€118k▼ 60.0%
2024 · €294k
2018: €76klowest in 8 years
2019: €145k▲ +90.5% vs 2018
2020: €116k▼ -19.8% vs 2019
2021: €152k▲ +30.4% vs 2020
2022: €105k▼ -30.5% vs 2021
2023: €271k▲ +157% vs 2022
2024: €294k▲ +8.3% vs 2023highest in 8 years
2025: €118k▼ -60.0% vs 2024
2018 → 2025
Total assets
€867k▼ 2.9%
2024 · €893k
2018: €140klowest in 8 years
2019: €313k▲ +123% vs 2018
2020: €274k▼ -12.4% vs 2019
2021: €420k▲ +53.3% vs 2020
2022: €488k▲ +16.3% vs 2021
2023: €770k▲ +57.6% vs 2022
2024: €893k▲ +16.0% vs 2023highest in 8 years
2025: €867k▼ -2.9% vs 2024
2018 → 2025
Net result
€99k▼ 42.6%
2024 · €173k
2018: €44k
2019: €69k▲ +57.5% vs 2018
2020: €71k▲ +3.5% vs 2019
2021: €35k▼ -50.5% vs 2020lowest in 8 years
2022: €215k▲ +510% vs 2021highest in 8 years
2023: €166k▼ -23.0% vs 2022
2024: €173k▲ +4.0% vs 2023
2025: €99k▼ -42.6% vs 2024
2018 → 2025
Working capital
€-126k
2024 · €163k
2018: €68k
2019: €163k▲ +140% vs 2018
2020: €90k▼ -44.7% vs 2019
2021: €120k▲ +33.4% vs 2020
2022: €52k▼ -56.3% vs 2021
2023: €205k▲ +291% vs 2022highest in 8 years
2024: €163k▼ -20.7% vs 2023
2025: €-126k▼ -177% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€152k-€105k▼ 30.5%€271k▲ 157%€294k▲ 8.3%€118k▼ 60.0%
2021: €152k
2022: €105k▼ -30.5% vs 2021lowest in 5 years
2023: €271k▲ +157% vs 2022
2024: €294k▲ +8.3% vs 2023highest in 5 years
2025: €118k▼ -60.0% vs 2024
Operating result€45k-€281k▲ 525%€218k▼ 22.4%€246k▲ 12.8%€143k▼ 41.9%
2021: €45klowest in 5 years
2022: €281k▲ +525% vs 2021highest in 5 years
2023: €218k▼ -22.4% vs 2022
2024: €246k▲ +12.8% vs 2023
2025: €143k▼ -41.9% vs 2024
Net result€35k-€215k▲ 510%€166k▼ 23.0%€173k▲ 4.0%€99k▼ 42.6%
2021: €35klowest in 5 years
2022: €215k▲ +510% vs 2021highest in 5 years
2023: €166k▼ -23.0% vs 2022
2024: €173k▲ +4.0% vs 2023
2025: €99k▼ -42.6% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 42% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €867k
Fixed assets
€448k ▲ 5.0%
Current assets
€419k ▼ 10.1%
Equity and liabilities €867k
Equity
€118k ▼ 60.0%
Debt
€749k ▲ 25.1%
Debt's share of the balance-sheet total rises from 67.1% to 86.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€195k▼
2024 · €285k
Cash flow
€152k▼
2024 · €212k
Current ratio
0.77▼
2024 · 1.54
Debt to equity
6.37▲
2024 · 2.04
ROE
84.2%▲
2024 · 58.7%
ROA
11.4%▼
2024 · 19.3%
Interest coverage
14.12▼
2024 · 20.76
Debt ≤ 1 year
€545k▲
2024 · €303k
Debt > 1 year
€204k▼
2024 · €296k
Income taxes
€30k▼
2024 · €59k
Staff costs
€101k▲
2024 · €83k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€893k€867k▼
Fixed assets21/28€427k€448k▲
Intangible fixed assets21€7k€5k▼
Tangible fixed assets22/27€359k€382k▲
Land and buildings22€289k€278k▼
Plant, machinery and equipment23€28k€29k▲
Furniture and vehicles24€0€43k▲
Leasing and similar rights25€42k€33k▼
Financial fixed assets28€60k€60k=
Current assets29/58€466k€419k▼
Amounts receivable within one year40/41€386k€326k▼
Trade receivables40€386k€298k▼
Other amounts receivable41€0€28k▲
Current investments50/53-€2k
Cash at bank and in hand54/58€73k€80k▲
Deferred charges and accrued income490/1€6k€11k▲
Equity and liabilities
Total equity and liabilities10/49€893k€867k▼
Equity10/15€294k€118k▼
Contributions10/11€19k€19k=
Reserves13€275k€99k▼
Distributable reserves133€275k€99k▼
Profit (loss) carried forward14€0€0=
Amounts payable17/49€599k€749k▲
Amounts payable after more than one year17€296k€204k▼
Financial debts170/4€296k€204k▼
Amounts payable within one year42/48€303k€545k▲
Current portion of amounts payable after more than one year42€31k€59k▲
Trade debts44€23k€33k▲
Suppliers440/4€23k€33k▲
Taxes, remuneration and social security45€76k€100k▲
Taxes450/3€56k€79k▲
Remuneration and social security454/9€20k€21k▲
Other amounts payable47/48€172k€352k▲
Income statement
Code20242025
Remuneration, social security and pensions62€83k€101k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€39k€53k▲
Other operating charges640/8€2k€2k▲
Gross operating margin9900€370k€299k▼
Operating profit (loss)9901€246k€143k▼
Financial income75/76B€1€2▲
Recurring financial income75€1€2▲
Financial charges65/66B€14k€14k▲
Recurring financial charges65€14k€14k▲
Profit (loss) for the period before taxes9903€232k€129k▼
Income taxes67/77€59k€30k▼
Profit (loss) for the period9904€173k€99k▼
Profit (loss) for the period to be appropriated9905€173k€99k▼
Appropriation of the result
Profit (loss) to be appropriated9906€173k€99k▼
Transfer from equity791/2-€275k
Transfer to equity691/2€23k€99k▲
To other reserves6921€23k€99k▲
Profit to be distributed694/7€150k€275k▲
Return on contributions (dividend)694€150k€275k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €9k | €40k | €71k | €83k | €101k | ▲ 22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25k | €25k | €34k | €39k | €53k | ▲ 34.0% |
| Other operating charges640/8 | €3k | €2k | €3k | €2k | €2k | ▲ 22.2% |
| Gross operating margin9900 | €82k | €348k | €326k | €370k | €299k | ▼ 19.0% |
| Operating profit (loss)9901 | €45k | €281k | €218k | €246k | €143k | ▼ 41.9% |
| Financial income75/76B | €214 | €5 | €3 | €1 | €2 | ▲ 77.2% |
| Recurring financial income75 | €214 | €5 | €3 | €1 | €2 | ▲ 77.2% |
| Financial charges65/66B | €640 | €783 | €5k | €14k | €14k | ▲ 0.9% |
| Recurring financial charges65 | €640 | €783 | €5k | €14k | €14k | ▲ 0.9% |
| Profit (loss) for the period before taxes9903 | €45k | €280k | €212k | €232k | €129k | ▼ 44.4% |
| Income taxes67/77 | €9k | €65k | €46k | €59k | €30k | ▼ 49.7% |
| Profit (loss) for the period9904 | €35k | €215k | €166k | €173k | €99k | ▼ 42.6% |
| Profit (loss) for the period to be appropriated9905 | €35k | €215k | €166k | €173k | €99k | ▼ 42.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €420k | €488k | €770k | €893k | €867k | ▼ 2.9% |
| Fixed assets21/28 | €49k | €60k | €313k | €427k | €448k | ▲ 5.0% |
| Intangible fixed assets21 | - | - | €9k | €7k | €5k | ▼ 27.2% |
| Tangible fixed assets22/27 | €49k | €60k | €304k | €359k | €382k | ▲ 6.5% |
| Land and buildings22 | - | - | €255k | €289k | €278k | ▼ 3.9% |
| Plant, machinery and equipment23 | €9k | €39k | €44k | €28k | €29k | ▲ 3.2% |
| Furniture and vehicles24 | €19k | €10k | €4k | €0 | €43k | - |
| Leasing and similar rights25 | €20k | €10k | €0 | €42k | €33k | ▼ 21.2% |
| Other tangible fixed assets26 | €780 | €390 | €0 | - | - | - |
| Financial fixed assets28 | - | - | €221 | €60k | €60k | = |
| Current assets29/58 | €371k | €428k | €456k | €466k | €419k | ▼ 10.1% |
| Amounts receivable within one year40/41 | €220k | €358k | €394k | €386k | €326k | ▼ 15.5% |
| Trade receivables40 | €199k | €358k | €385k | €386k | €298k | ▼ 22.7% |
| Other amounts receivable41 | €21k | €157 | €8k | €0 | €28k | - |
| Current investments50/53 | - | - | - | - | €2k | - |
| Cash at bank and in hand54/58 | €149k | €66k | €58k | €73k | €80k | ▲ 9.5% |
| Deferred charges and accrued income490/1 | €3k | €5k | €4k | €6k | €11k | ▲ 65.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €420k | €488k | €770k | €893k | €867k | ▼ 2.9% |
| Equity10/15 | €152k | €105k | €271k | €294k | €118k | ▼ 60.0% |
| Contributions10/11 | €12k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €139k | €87k | €253k | €275k | €99k | ▼ 64.0% |
| Distributable reserves133 | €139k | €87k | €253k | €275k | €99k | ▼ 64.0% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €268k | €383k | €498k | €599k | €749k | ▲ 25.1% |
| Amounts payable after more than one year17 | €16k | €7k | €247k | €296k | €204k | ▼ 30.9% |
| Financial debts170/4 | €16k | €7k | €247k | €296k | €204k | ▼ 30.9% |
| Amounts payable within one year42/48 | €251k | €376k | €251k | €303k | €545k | ▲ 79.9% |
| Current portion of amounts payable after more than one year42 | €9k | €10k | €53k | €31k | €59k | ▲ 92.9% |
| Trade debts44 | €179k | €138k | €104k | €23k | €33k | ▲ 42.8% |
| Suppliers440/4 | €179k | €138k | €104k | €23k | €33k | ▲ 42.8% |
| Taxes, remuneration and social security45 | €55k | €74k | €38k | €76k | €100k | ▲ 31.3% |
| Taxes450/3 | €41k | €64k | €25k | €56k | €79k | ▲ 40.5% |
| Remuneration and social security454/9 | €14k | €10k | €13k | €20k | €21k | ▲ 5.8% |
| Other amounts payable47/48 | €9k | €154k | €55k | €172k | €352k | ▲ 104% |
| Accrued charges and deferred income492/3 | €539 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35k | €215k | €166k | €173k | €99k | ▼ 42.6% |
| + Depreciation and write-downs630 | €25k | €25k | €34k | €39k | €53k | ▲ 34.0% |
| Operating cash flow (approximation) | €61k | €240k | €200k | €212k | €152k | ▼ 28.4% |
| Investment in fixed assets (approximation) | - | €-36k | €-288k | €-153k | €-74k | ▲ 51.6% |
| Change in cash | - | €-83k | €-8k | €15k | €7k | ▼ 54.1% |
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
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
07-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €200kEq €271k ▲157%
6 profitable years in a row build equity to €271k.
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €215k ▲510%
Operating result €281k, net result €215k, both a record.
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Weakest financial yearnet €35k ▼50.5%
Net result drops to €35k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €150kEq €152k ▲30.4%
4 profitable years in a row build equity to €152k.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 7 days late
2019
31-12
Financial
Equity above €100kEq €145k ▲90.5%
2 profitable years in a row build equity to €145k.
06-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
05-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Rotselaar · 1 establishment unit since 2017
Ground area
1,140 m²
Building footprint
79 m²
Volume, LiDAR
623 m³
Parcel 24123A0375/00A000, Flanders · tallest building 9.6 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
GRIP
since 20172.265.290.092
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24123A0375/00A000 | Flanders | 1,140 m² | 1 · 79 m² | 9.6 m · 3 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
Flemish government
2024 to 2025 · 2 entries · 1,075 EUR awarded · 1,075 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 760 EUR | 760 EUR |
| 2024 | 1 | 315 EUR | 315 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,177 companies in sector 72109 we hold annual accounts for 716. 458 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded10-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
71209Other technical testing and analysis
72109Other research and development on natural sciences
Scores and ratios are computed by Checked and are not a credit decision.