Grizaco
ActiveGrizaco has been active since 1968 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.72M and a net result of €15k. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 15% of 297 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
53
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability55▼-9
Solvency41▼-7
Growth69▼-4
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €90k at 30 days acceptable
Liquidity tight (current ratio 1.03 against 1.15 in 2023; short-term debt: 82.9% and cash: 0% of total assets), and 84.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
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
15.7%
Return on assets
0.1%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Sector 42
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 297 sector peers (2025).
NBB · sector comparisonPosition among 297 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-08-2026, 7 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 · 10 filingsDeviation from the deadline
2025
7 d late
2024
42 d early
2023
40 d late
2022
76 d early
2021
30 d late
2020
51 d early
2019
49 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€26.62M▼ 1.5%
2023 · €27.02M
2020: €20.63M
2023: €27.02M
2020 → 2025
EBIT margin
0.5%▼ 2.2pp
2023 · 2.7%
2020: -0.3%
2023: 2.7%
2020 → 2025
Net result
€15k▼ 97.1%
2023 · €504k
2020: €-88k
2023: €504k
2020 → 2025
Working capital
€292k▼ 65.0%
2023 · €836k
2020: €809k
2023: €836k
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202020232025Trend
Turnover€20.63M-€27.02M▲ 31.0%€26.62M▼ 1.5%
Equity€1.63M-€1.72M▲ 5.4%€1.72M=
Operating result€-71k-€727k€135k▼ 81.4%
Net result€-88k-€504k€15k▼ 97.1%
Result per fiscal year
Operating resultNet result
The operating result is €135k in 2025, compared with €727k in 2023. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2025 in colour, 2023 as the grey bar beneath
Assets €10.97M
Fixed assets
€1.58M▲ 54.2%
Current assets
€9.39M▲ 43.7%
Equity and liabilities €10.97M
Equity
€1.72M=
Provisions
€153k▲ 21.4%
Debt
€9.10M▲ 59.3%
The debt ratio rises from 75.6% to 82.9%. Debt is higher.
Key figures and ratios
EBITDA
€431k▼
2023 · €1.13M
Cash flow
€311k▼
2023 · €903k
Solvency
15.7%▼
2023 · 22.7%
Current ratio
1.03▼
2023 · 1.15
Quick ratio
1.02▼
2023 · 1.14
Debt / equity
5.29▲
2023 · 3.32
ROE
0.8%▼
2023 · 29.3%
ROA
0.1%▼
2023 · 6.7%
Interest coverage
7.39▼
2023 · 22.61
Debt
€9.10M▲
2023 · €5.71M
Debt ≤ 1 year
€9.10M▲
2023 · €5.70M
Debt > 1 year
€0
Income taxes
€43k▼
2023 · €179k
Staff costs
€3.84M▲
2023 · €3.52M
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 2023
Balance sheet
Code20232025
Assets
Total assets20/58€7.56M€10.97M▲
Fixed assets21/28€1.02M€1.58M▲
Intangible fixed assets21-€0
Tangible fixed assets22/27€872k€1.41M▲
Land and buildings22-€0
Plant, machinery and equipment23€746k€429k▼
Furniture and vehicles24€126k€205k▲
Assets under construction and advance payments27-€780k
Financial fixed assets28€152k€166k▲
Other financial fixed assets284/8€152k€166k▲
Shares284€16k€16k=
Amounts receivable and cash guarantees285/8€136k€150k▲
Current assets29/58€6.53M€9.39M▲
Stocks and contracts in progress3€13k€121k▲
Stocks30/36€13k€121k▲
Raw materials and consumables30/31€13k€121k▲
Amounts receivable within one year40/41€6.49M€9.24M▲
Trade receivables40€6.11M€8.36M▲
Other amounts receivable41€382k€879k▲
Cash at bank and in hand54/58-€0
Deferred charges and accrued income490/1€26k€28k▲
Equity and liabilities
Total equity and liabilities10/49€7.56M€10.97M▲
Equity10/15€1.72M€1.72M=
Contributions10/11€868k€868k=
Capital10€868k€868k=
Issued capital100€868k€868k=
Reserves13€851k€851k=
Non-distributable reserves130/1€174k€174k=
Legal reserve130€87k€87k=
Other1319€87k€87k=
Tax-exempt reserves132€278k€278k=
Distributable reserves133€400k€400k=
Profit (loss) carried forward14€20€208▲
Provisions and deferred taxes16€126k€153k▲
Provisions for liabilities and charges160/5€126k€153k▲
Other liabilities and charges164/5€126k€153k▲
Amounts payable17/49€5.71M€9.10M▲
Amounts payable after more than one year17-€0
Financial debts170/4-€0
Leasing and similar obligations172-€0
Amounts payable within one year42/48€5.70M€9.10M▲
Financial debts43€1.02M€4.23M▲
Other loans439€1.02M€4.23M▲
Trade debts44€2.76M€3.68M▲
Suppliers440/4€2.76M€3.68M▲
Taxes, remuneration and social security45€976k€732k▼
Taxes450/3€390k€73k▼
Remuneration and social security454/9€586k€660k▲
Other amounts payable47/48€937k€456k▼
Accrued charges and deferred income492/3€15k€0▼
Income statement
Code20232025
Operating income70/76A€27.36M€26.93M▼
Turnover70€27.02M€26.62M▼
Other operating income74€311k€297k▼
Non-recurring operating income76A€22k€10k▼
Operating charges60/66A€26.63M€26.79M▲
Goods for resale, raw materials and consumables60€20.35M€20.24M▼
Purchases600/8€20.34M€20.29M▼
Change in stocks: decrease (increase)609€8k€-46k▼
Services and other goods61€2.22M€2.36M▲
Remuneration, social security and pensions62€3.52M€3.84M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€399k€296k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€219k€0▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-117k€-19k▲
Other operating charges640/8€42k€72k▲
Operating profit (loss)9901€727k€135k▼
Financial income75/76B€6k€1k▼
Recurring financial income75€6k€1k▼
Income from financial fixed assets750€6k€1k▼
Financial charges65/66B€50k€80k▲
Recurring financial charges65€50k€80k▲
Debt charges650-€58k
Other financial charges652/9€50k€21k▼
Profit (loss) for the period before taxes9903€683k€57k▼
Income taxes67/77€179k€43k▼
Taxes670/3€179k€43k▼
Profit (loss) for the period9904€504k€15k▼
Profit (loss) for the period to be appropriated9905€504k€15k▼
Appropriation of the result
Profit (loss) to be appropriated9906€504k€15k▼
Profit (loss) brought forward from the previous period14P€163€208▲
Profit to be distributed694/7€504k€15k▼
Return on contributions (dividend)694€504k€15k▼
Social balance
Average headcount (FTE)908752.951.0▼
The notes to these accounts (60 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
07-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 7 days late
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
09-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 40 days late
2023
31-12
Financial
Back to profitnet €504k
Net result €504k after one loss-making year.
16-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
16-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
08-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 39 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2019
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
11-05-2019
Fabrice DEBRABANT: Resigned as Director
08-05-2018
Christian Antoine: Resigned as Director
11-03-2014
Jean-Luc PANTIN: Resigned as Director
11-05-2013
Guy VACHER: Resigned as Director
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 1961
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.
Scheepvaartkaai 43500 HasseltGround area
7,472 m²
Building footprint
1,325 m²
Volume, LiDAR
9,933 m³
2 parcels, Flanders · tallest building 18.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Scheepvaartkaai 29, 3500 Hasselt
since 19612.102.026.226
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71323C0310/00D009 | Flanders | 6,348 m² | 1 · 368 m² | 3.9 m · 1 fl. |
| 71323C0310/00K007indicative | Flanders | 1,124 m² | 1 · 956 m² | 18.6 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
4 categoriesGrizaco NV26987
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Of 2,327 companies in sector 42110 we hold annual accounts for 1,097. 577 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1968
Fiscal year end31-12
Activities, NACEBEL
42110Construction of roads and motorways
45230
23990Manufacture of other non-metallic mineral products
26820
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.