GROBELCO
ActiveSummary
GROBELCO has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.6m and a net result of €7,388. Equity is growing by ~40.9% per year across the filed fiscal years. Its solvency ranks better than 41% of 406 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability25▼-52
Solvency58▼-2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €200,000 at 30 days acceptable
Liquidity ample (current ratio 1.57 against 2.11 in 2024; short-term debt: 21.1% and cash: 8.3% of total assets), but 67.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four 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
32.8%
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
Civil engineering (NACE 42)
about 27% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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
24 d late
2024
1 d early
2023
14 d late
2022
7 d early
2021
79 d early
2020
9 d early
2019
63 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 40% of the sector filed late.
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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 company by total assets in Maasmechelen, Construction sector#2 company by equity in Maasmechelen, Construction sector
Source amounts without an identifiable currency are assumed to be EUR.
Turnover
€7.4m
EBIT margin
5.8%
Net result
€7,388▼ 98.9%
2024 · €702,564
Working capital
€1.3m▼ 49.2%
2024 · €2.6m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result€750,642▲ 159%€993,629▲ 32.4%€1.5m▲ 48.8%€1.3m▼ 13.1%€275,576▼ 78.6%
Net result€587,485above the sector's middle half▲ 200%€716,506above the sector's middle half▲ 22.0%€946,931above the sector's middle half▲ 32.2%€702,564above the sector's middle half▼ 25.8%€7,388within the sector's middle half▼ 98.9%
EBIT margin
Equity€1.3mabove the sector's middle half▲ 82.4%€2.0mabove the sector's middle half▲ 50.3%€2.9mabove the sector's middle half▲ 48.5%€3.6mabove the sector's middle half▲ 24.2%€3.6mabove the sector's middle half▲ 0.2%
Total assets€3.8mabove the sector's middle half▲ 30.8%€5.8mabove the sector's middle half▲ 50.7%€5.7mabove the sector's middle half▼ 0.4%€10.3mabove the sector's middle half▲ 79.0%€11.0mabove the sector's middle half▲ 7.2%
Debt€2.5m▲ 5.0%€3.8m▲ 51.0%€2.8m▼ 25.5%€6.7m▲ 135%€7.4m▲ 10.9%
Working capital€925,112above the sector's middle half▲ 81.2%€1.5mabove the sector's middle half▲ 59.0%€2.5mabove the sector's middle half▲ 72.9%€2.6mabove the sector's middle half▲ 3.2%€1.3mabove the sector's middle half▼ 49.2%
Solvency34.0%within the sector's middle half▲ 9.6pp33.9%within the sector's middle half▼ 0.1pp50.5%within the sector's middle half▲ 16.6pp35.1%within the sector's middle half▼ 15.4pp32.8%within the sector's middle half▼ 2.3pp
Current ratio1.41within the sector's middle half▲ 0.111.42within the sector's middle half▲ 0.012.26within the sector's middle half▲ 0.842.11within the sector's middle half▼ 0.151.57within the sector's middle half▼ 0.54
Return on assets (ROA)15.3%above the sector's middle half▲ 8.7pp12.4%above the sector's middle half▼ 2.9pp16.5%above the sector's middle half▲ 4.1pp6.8%within the sector's middle half▼ 9.7pp0.1%below the sector's middle half▼ 6.8pp
Staff (FTE)16.4within the sector's middle half=16.4within the sector's middle half=18.3above the sector's middle half▲ 11.6%18.3above the sector's middle half=17.1above the sector's middle half▼ 6.6%
above
within
below
the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 79% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.0m
Fixed assets
€7.4m ▲ 38.8%
Current assets
€3.7m ▼ 26.5%
Equity and liabilities €11.0m
Equity
€3.6m ▲ 0.2%
Debt
€7.4m ▲ 10.9%
Debt's share of the balance-sheet total rises from 64.9% to 67.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€651,153▼
2024 · €1.7m
Cash flow
€382,965▼
2024 · €1.1m
Quick ratio
1.47▼
2024 · 1.99
Debt to equity
2.05▲
2024 · 1.85
ROE
0.2%▼
2024 · 19.5%
Interest coverage
0.73▼
2024 · 13.49
Debt ≤ 1 year
€2.3m▼
2024 · €2.4m
Debt > 1 year
€4.0m▲
2024 · €3.3m
Income taxes
€1,234▼
2024 · €132,498
Staff costs
€1.1m▲
2024 · €980,327
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,733 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,733 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €53,000 | - | €60,217 | - | - | - |
| Remuneration, social security and pensions62 | €735,832 | €955,466 | €963,431 | €980,327 | €1.1m | ▲ 8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €268,224 | €314,660 | €330,207 | €404,325 | €375,576 | ▼ 7.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €25,388 | - | €32,042 | €39,254 | €0 | ▼ 100% |
| Other operating charges640/8 | €29,365 | €21,182 | €37,881 | €53,796 | €25,792 | ▼ 52.1% |
| Non-recurring operating charges66A | - | €606 | - | €70,036 | €7,737 | ▼ 89.0% |
| Gross operating margin9900 | €1.8m | €2.3m | €2.8m | €2.8m | €1.7m | ▼ 38.3% |
| Operating profit (loss)9901 | €750,642 | €993,629 | €1.5m | €1.3m | €275,576 | ▼ 78.6% |
| Financial income75/76B | €65,017 | €15,414 | €592,987 | €92,024 | €626,623 | ▲ 581% |
| Recurring financial income75 | €5,280 | €15,414 | €60,678 | €66,024 | €626,623 | ▲ 849% |
| Non-recurring financial income76B | €59,737 | - | €532,309 | €26,000 | €0 | ▼ 100% |
| Financial charges65/66B | €38,746 | €58,111 | €891,740 | €542,381 | €893,577 | ▲ 64.8% |
| Recurring financial charges65 | €38,746 | €58,111 | €166,852 | €125,223 | €893,577 | ▲ 614% |
| Non-recurring financial charges66B | - | - | €724,888 | €417,157 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €776,913 | €950,932 | €1.2m | €835,062 | €8,622 | ▼ 99.0% |
| Transfer from deferred taxes780 | €624 | - | - | - | - | - |
| Income taxes67/77 | €190,052 | €234,426 | €233,264 | €132,498 | €1,234 | ▼ 99.1% |
| Profit (loss) for the period9904 | €587,485 | €716,506 | €946,931 | €702,564 | €7,388 | ▼ 98.9% |
| Transfer from tax-exempt reserves789 | €1,212 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €588,697 | €716,506 | €946,931 | €702,564 | €7,388 | ▼ 98.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.8m | €5.8m | €5.7m | €10.3m | €11.0m | ▲ 7.2% |
| Fixed assets21/28 | €637,041 | €802,815 | €1.2m | €5.3m | €7.4m | ▲ 38.8% |
| Tangible fixed assets22/27 | €636,996 | €802,815 | €1.2m | €5.3m | €7.4m | ▲ 38.8% |
| Land and buildings22 | €3,113 | €2,118 | €1,123 | €1,615 | €5,735 | ▲ 255% |
| Plant, machinery and equipment23 | €552,001 | €579,342 | €558,616 | €585,988 | €398,934 | ▼ 31.9% |
| Furniture and vehicles24 | €41,667 | €157,550 | €157,945 | €75,106 | €65,690 | ▼ 12.5% |
| Leasing and similar rights25 | - | - | €393,495 | €312,641 | €231,787 | ▼ 25.9% |
| Other tangible fixed assets26 | €40,215 | €63,805 | €69,870 | €51,300 | €129,220 | ▲ 152% |
| Assets under construction and advance payments27 | - | - | - | €4.3m | €6.5m | ▲ 52.7% |
| Financial fixed assets28 | €45 | - | €180 | €180 | €180 | = |
| Current assets29/58 | €3.2m | €5.0m | €4.6m | €5.0m | €3.7m | ▼ 26.5% |
| Amounts receivable after more than one year29 | €881,800 | €881,800 | €881,800 | €199,800 | €484,800 | ▲ 143% |
| Other amounts receivable291 | €881,800 | €881,800 | €881,800 | €199,800 | €484,800 | ▲ 143% |
| Stocks and contracts in progress3 | €129,053 | €169,053 | €141,184 | €299,042 | €248,450 | ▼ 16.9% |
| Stocks30/36 | €129,053 | €169,053 | €141,184 | €299,042 | €248,450 | ▼ 16.9% |
| Amounts receivable within one year40/41 | €2.0m | €3.1m | €2.6m | €2.5m | €1.5m | ▼ 41.7% |
| Trade receivables40 | €1.9m | €2.8m | €2.5m | €2.4m | €1.3m | ▼ 47.3% |
| Other amounts receivable41 | €110,621 | €261,420 | €159,473 | €152,432 | €221,254 | ▲ 45.1% |
| Current investments50/53 | €14,280 | €71,149 | €428,726 | €6,040 | €291,219 | ▲ 4,722% |
| Cash at bank and in hand54/58 | €113,360 | €697,354 | €370,570 | €1.8m | €911,070 | ▼ 48.7% |
| Deferred charges and accrued income490/1 | €52,591 | €78,298 | €122,649 | €157,055 | €245,525 | ▲ 56.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.8m | €5.8m | €5.7m | €10.3m | €11.0m | ▲ 7.2% |
| Equity10/15 | €1.3m | €2.0m | €2.9m | €3.6m | €3.6m | ▲ 0.2% |
| Contributions10/11 | €43,392 | €43,392 | €43,392 | €43,392 | €43,392 | = |
| Reserves13 | €369,339 | €306,339 | €306,339 | €306,339 | €306,339 | = |
| Non-distributable reserves130/1 | €4,339 | €4,339 | €4,339 | €4,339 | €4,339 | = |
| Reserves not available under the articles1311 | €4,339 | €4,339 | €4,339 | €4,339 | €4,339 | = |
| Tax-exempt reserves132 | - | - | - | - | €302,000 | - |
| Distributable reserves133 | €365,000 | €302,000 | €302,000 | €302,000 | - | - |
| Profit (loss) carried forward14 | €887,479 | €1.6m | €2.6m | €3.3m | €3.3m | ▲ 0.2% |
| Amounts payable17/49 | €2.5m | €3.8m | €2.8m | €6.7m | €7.4m | ▲ 10.9% |
| Amounts payable after more than one year17 | €261,943 | €247,151 | €435,031 | €3.3m | €4.0m | ▲ 22.4% |
| Financial debts170/4 | €261,943 | €247,151 | €435,031 | €3.3m | €4.0m | ▲ 22.4% |
| Amounts payable within one year42/48 | €2.3m | €3.5m | €2.0m | €2.4m | €2.3m | ▼ 1.3% |
| Current portion of amounts payable after more than one year42 | €99,693 | €92,125 | €56,771 | €57,126 | - | - |
| Financial debts43 | €515,194 | €542,931 | €605,939 | €576,721 | €976,991 | ▲ 69.4% |
| Credit institutions430/8 | €515,194 | €542,931 | €605,939 | €576,721 | €976,991 | ▲ 69.4% |
| Trade debts44 | €1.5m | €2.6m | €1.1m | €1.6m | €1.3m | ▼ 18.9% |
| Suppliers440/4 | €1.5m | €2.6m | €1.1m | €1.6m | €1.3m | ▼ 18.9% |
| Taxes, remuneration and social security45 | €137,229 | €185,352 | €262,706 | €99,151 | €33,740 | ▼ 66.0% |
| Taxes450/3 | €115,203 | €159,801 | €231,310 | €37,153 | €475 | ▼ 98.7% |
| Remuneration and social security454/9 | €22,025 | €25,552 | €31,395 | €61,998 | €33,265 | ▼ 46.3% |
| Other amounts payable47/48 | - | €63,000 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | €73,106 | €388,683 | €1.0m | €1.0m | ▲ 1.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €587,485 | €716,506 | €946,931 | €702,564 | €7,388 | ▼ 98.9% |
| + Depreciation and write-downs630 | €268,224 | €314,660 | €330,207 | €404,325 | €375,576 | ▼ 7.1% |
| Operating cash flow (approximation) | €855,709 | €1.0m | €1.3m | €1.1m | €382,965 | ▼ 65.4% |
| Investment in fixed assets (approximation) | - | -€480,435 | -€708,620 | -€4.5m | -€2.4m | ▲ 46.2% |
| Change in cash | - | €583,994 | -€326,784 | €1.4m | -€866,373 | ▼ 162% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
31-12
Financial
Weakest financial yearnet €7,388 ▼98.9%
Net result drops to €7,388, the lowest in the series.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
14-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 14 days late
2023
31-12
Financial
Highest result since 2018net €946,931 ▲32.2%
Operating result €1.5m, net result €946,931, both a record.
31-12
Financial
Equity above €2mEq €2.9m ▲48.5%
6 profitable years in a row build equity to €2.9m.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
13-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1mEq €1.3m ▲82.4%
4 profitable years in a row build equity to €1.3m.
22-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 63 days late
2019
31-12
Financial
Equity above €500,000Eq €517,141 ▲11.5%
2 profitable years in a row build equity to €517,141.
Show earlier events
04-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
14-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
17-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Maasmechelen · 1 establishment unit since 2001
Ground area
1.8 ha
Building footprint
216 m²
Parcel 73008A1603/00S000, Flanders · tallest building 0.1 m. Linked by address, not a title deed.
1 establishment unit
Grobelco
since 20012.076.029.434
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73008A1603/00S000 | Flanders | 1.8 ha | 1 · 216 m² | 0.1 m |
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
2022 to 2025 · 4 entries · 1,219 EUR awarded · 1,219 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 558 EUR | 558 EUR |
| 2024 | 1 | 0 EUR | 47 EUR |
| 2023 | 1 | 409 EUR | 406 EUR |
| 2022 | 1 | 252 EUR | 208 EUR |
Recognitions · licences · registrations
Recognised contractor
5 categoriesGROBELCO BV28940
Legal Entity Identifier
699400U3JBB6T02BQH50
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Of 2,325 companies in sector 42110 we hold annual accounts for 1,096. 442 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
Founded08-03-1996
Fiscal year end31-12
Activities, NACEBEL 2025
42110Construction of roads and motorways
E-invoicing
Reachable via Peppol
Peppol ID
0208:0457450218
Registered
16-10-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.