GRISAR
ActiveGRISAR has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €78k and a net result of €-31k. Equity is growing by ~14.8% per year across the filed fiscal years. Its solvency ranks better than 83% of 2017 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-100
Solvency100=
Growth55▼-16
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4k at 30 days acceptable
Liquidity ample (current ratio 4.14 against 3.88 in 2024), and 18% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 85
Relative position
BE, all sectors
reference
Sector 85
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
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 2025Solvency, return and age of the figures
Solvency
82%
Return on assets
-33%
Age of the figures
8 mo
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
25 d late
2024
58 d early
2023
49 d early
2022
33 d early
2021
54 d early
2020
30 d early
2019
22 d early
← before the deadline
after the deadline →
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
12-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€160k▼ 20.8%
2021 · €202k
2018: €119k
2019: €144k
2020: €130k
2021: €202k
2018 → 2022
EBIT margin
0.9%▼ 10.8pp
2021 · 11.7%
2018: -7.5%
2019: -5.3%
2020: 10.4%
2021: 11.7%
2018 → 2022
Net result
€-31k
2024 · €68k
2018: €-11k
2019: €-10k
2020: €12k
2021: €17k
2022: €-2k
2023: €33k
2024: €68k
2018 → 2025
Working capital
€54k▼ 30.3%
2024 · €77k
2018: €30k
2019: €18k
2020: €30k
2021: €37k
2022: €34k
2023: €61k
2024: €77k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€202k-€160k▼ 20.8%
Equity€63k-€58k▼ 7.9%€87k▲ 50.0%€109k▲ 25.1%€78k▼ 28.7%
Operating result€24k-€1k▼ 94.2%€48k▲ 3,440%€101k▲ 108%€-26k
Net result€17k-€-2k€33k€68k▲ 110%€-31k
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 €26k after €101k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €95k
Fixed assets
€24k▼ 25.0%
Current assets
€71k▼ 31.8%
Equity and liabilities €95k
Equity
€78k▼ 28.7%
Debt
€17k▼ 36.1%
The debt ratio falls from 19.7% to 18.0%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€-17k▼
2024 · €109k
Cash flow
€-22k▼
2024 · €76k
Solvency
82.0%▲
2024 · 80.3%
Current ratio
4.14▲
2024 · 3.88
Quick ratio
4.14▲
2024 · 3.88
Debt / equity
0.22▼
2024 · 0.25
ROE
-40.3%▼
2024 · 62.5%
ROA
-33.0%▼
2024 · 50.2%
Interest coverage
-3.25▼
2024 · 20.80
Debt
€17k▼
2024 · €27k
Debt ≤ 1 year
€17k▼
2024 · €27k
Income taxes
€394▼
2024 · €27k
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€136k€95k▼
Fixed assets21/28€32k€24k▼
Tangible fixed assets22/27€32k€24k▼
Plant, machinery and equipment23€27k€22k▼
Furniture and vehicles24€5k€2k▼
Financial fixed assets28€24€24=
Current assets29/58€104k€71k▼
Amounts receivable within one year40/41€67k€29k▼
Trade receivables40€63k-
Other amounts receivable41€4k€29k▲
Cash at bank and in hand54/58€34k€38k▲
Deferred charges and accrued income490/1€4k€4k▲
Equity and liabilities
Total equity and liabilities10/49€136k€95k▼
Equity10/15€109k€78k▼
Contributions10/11€4k€4k=
Reserves13€105k€105k=
Distributable reserves133€105k€105k=
Profit (loss) carried forward14-€-31k
Amounts payable17/49€27k€17k▼
Amounts payable within one year42/48€27k€17k▼
Trade debts44€2k€4k▲
Suppliers440/4€2k€4k▲
Taxes, remuneration and social security45€24k€13k▼
Taxes450/3€24k€13k▼
Other amounts payable47/48€849€212▼
Accrued charges and deferred income492/3€44€12▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€9k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€889
Other operating charges640/8€1k€1k▲
Gross operating margin9900€110k€-15k▼
Operating profit (loss)9901€101k€-26k▼
Financial income75/76B€2-
Recurring financial income75€2-
Financial charges65/66B€5k€5k▼
Recurring financial charges65€5k€5k▼
Profit (loss) for the period before taxes9903€95k€-31k▼
Income taxes67/77€27k€394▼
Profit (loss) for the period9904€68k€-31k▼
Profit (loss) for the period to be appropriated9905€68k€-31k▼
Appropriation of the result
Profit (loss) to be appropriated9906€68k€-31k▼
Transfer to equity691/2€68k-
To other reserves6921€68k-
Profit to be distributed694/7€849-
Return on contributions (dividend)694€849-
The notes to these accounts (8 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
2026
25-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 25 days late
2025
31-12
Financial
Weakest financial yearnet €-31k ▼146%
Net result drops to €-31k, the lowest in the series.
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €68k ▲110%
Operating result €101k, net result €68k, both a record.
31-12
Financial
Equity above €100kEq €109k ▲25.1%
2 profitable years in a row build equity to €109k.
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €33k
Net result €33k after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
07-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €12k
Net result €12k after 2 loss-making years.
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2018
28-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Hoeilaart · 1 establishment unit since 1977
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.
Tenboslaan 151560 HoeilaartGround area
2,354 m²
Building footprint
166 m²
Volume, LiDAR
1,195 m³
Parcel 23033A0745/00F000, Flanders · tallest building 11.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
GRISAR
since 19772.014.177.383
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23033A0745/00F000 | Flanders | 2,354 m² | 1 · 166 m² | 11.7 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.
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Of 3,006 companies in sector 85592 we hold annual accounts for 984. 731 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded07-11-1977
Fiscal year end31-12
Activities, NACEBEL
74203
85592Vocational training
68203Renting and operating of own or leased non-residential real estate, excluding land
71121Engineering and related technical consultancy, excluding land surveyors
Sources
Crossroads Bank for EnterprisesNational Bank · 47 filingsAddress and cadastre registers
Data from official sources, last processed on 12-09-2026. Scores and ratios are computed by Checked and are not a credit decision.