GROENSTAD
ActiveSummary
GROENSTAD has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€4,528) and a net result of -€1,534. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 19% of 14462 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+2
Solvency24=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.02 against 0.01 in 2024; short-term debt: 100.1% and cash: 1.2% of total assets), and equity is negative.
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Signals
Five 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-1.2%
Return on assets
-0.4%
Age of the figures
15 mo
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 · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€4,528
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 14-01-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
8 d early
2023
2 d early
2022
22 d early
2021
49 d early
2020
26 d early
2019
7 d early
← 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 19 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 14 January (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€4,528▼ 51.2%
2024 · -€2,994
Total assets
€367,306▼ 2.8%
2024 · €377,861
Net result
-€1,534▲ 83.9%
2024 · -€9,504
Working capital
-€361,325▲ 1.3%
2024 · -€366,160
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€10,853▼ 358%-€11,161▼ 2.8%-€5,198▲ 53.4%-€9,108▼ 75.2%-€1,248▲ 86.3%
Net result-€11,652below the sector's middle half▼ 255%-€11,867below the sector's middle half▼ 1.8%-€5,784within the sector's middle half▲ 51.3%-€9,504within the sector's middle half▼ 64.3%-€1,534within the sector's middle half▲ 83.9%
Equity-€66,227below the sector's middle half▼ 21.3%€12,294below the sector's middle half€6,510below the sector's middle half▼ 47.0%-€2,994below the sector's middle half-€4,528below the sector's middle half▼ 51.2%
Total assets€367,876within the sector's middle half▼ 29.5%€422,171within the sector's middle half▲ 14.8%€399,972within the sector's middle half▼ 5.3%€377,861within the sector's middle half▼ 5.5%€367,306within the sector's middle half▼ 2.8%
Debt€434,103▼ 24.7%€409,877▼ 5.6%€393,462▼ 4.0%€380,855▼ 3.2%€371,834▼ 2.4%
Working capital-€354,254below the sector's middle half▲ 32.9%-€359,583below the sector's middle half▼ 1.5%-€359,686below the sector's middle half=-€366,160below the sector's middle half▼ 1.8%-€361,325below the sector's middle half▲ 1.3%
Solvency-18.0%below the sector's middle half▼ 7.5pp2.9%below the sector's middle half▲ 20.9pp1.6%below the sector's middle half▼ 1.3pp-0.8%below the sector's middle half▼ 2.4pp-1.2%below the sector's middle half▼ 0.4pp
Current ratio0.11below the sector's middle half▲ 0.100.06below the sector's middle half▼ 0.050.04below the sector's middle half▼ 0.020.01below the sector's middle half▼ 0.030.02below the sector's middle half▲ 0.01
Return on assets (ROA)-3.2%below the sector's middle half▼ 2.5pp-2.8%below the sector's middle half▲ 0.4pp-1.4%within the sector's middle half▲ 1.4pp-2.5%within the sector's middle half▼ 1.1pp-0.4%within the sector's middle half▲ 2.1pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,248 in 2025 against €9,108 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €367,306
Fixed assets
€360,951 ▼ 3.8%
Current assets
€6,355 ▲ 139%
Equity and liabilities
Equity-€4,528
Debt€371,834
Equity is negative: debt (€371,834) exceeds the balance-sheet total (€367,306).
Key figures and ratios
EBITDA
€13,008▲
2024 · €5,387
Cash flow
€12,722▲
2024 · €4,990
Interest coverage
45.22▲
2024 · 12.39
Debt ≤ 1 year
€367,679▼
2024 · €368,814
Debt > 1 year
€3,355▼
2024 · €11,321
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,332 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.8%
went bankrupt
5.8%
stopped otherwise
91%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 2,332 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 | - | €2,615 | €1,000 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,132 | €14,132 | €14,132 | €14,494 | €14,256 | ▼ 1.6% |
| Other operating charges640/8 | - | €2,277 | €1,455 | €1,838 | €1,919 | ▲ 4.4% |
| Gross operating margin9900 | €7,017 | €5,248 | €10,389 | €7,225 | €14,927 | ▲ 107% |
| Operating profit (loss)9901 | -€10,853 | -€11,161 | -€5,198 | -€9,108 | -€1,248 | ▲ 86.3% |
| Financial income75/76B | - | €1 | €0 | €38 | €2 | ▼ 96.0% |
| Recurring financial income75 | €0 | €1 | €0 | €38 | €2 | ▼ 96.0% |
| Financial charges65/66B | - | €707 | €585 | €435 | €288 | ▼ 33.8% |
| Recurring financial charges65 | €798 | €707 | €585 | €435 | €288 | ▼ 33.8% |
| Profit (loss) for the period before taxes9903 | -€11,652 | -€11,867 | -€5,784 | -€9,504 | -€1,534 | ▲ 83.9% |
| Profit (loss) for the period9904 | -€11,652 | -€11,867 | -€5,784 | -€9,504 | -€1,534 | ▲ 83.9% |
| Profit (loss) for the period to be appropriated9905 | -€11,652 | -€11,867 | -€5,784 | -€9,504 | -€1,534 | ▲ 83.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €367,876 | €422,171 | €399,972 | €377,861 | €367,306 | ▼ 2.8% |
| Fixed assets21/28 | €323,242 | €399,496 | €385,364 | €375,207 | €360,951 | ▼ 3.8% |
| Tangible fixed assets22/27 | €323,242 | €399,496 | €385,364 | €375,207 | €360,951 | ▼ 3.8% |
| Land and buildings22 | - | €399,496 | €385,364 | €375,207 | €360,951 | ▼ 3.8% |
| Current assets29/58 | €44,635 | €22,674 | €14,608 | €2,654 | €6,355 | ▲ 139% |
| Cash at bank and in hand54/58 | €44,635 | €22,674 | €14,608 | €2,654 | €4,473 | ▲ 68.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,882 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €367,876 | €422,171 | €399,972 | €377,861 | €367,306 | ▼ 2.8% |
| Equity10/15 | -€66,227 | €12,294 | €6,510 | -€2,994 | -€4,528 | ▼ 51.2% |
| Contributions10/11 | - | €348,987 | €348,987 | €348,987 | €348,987 | = |
| Profit (loss) carried forward14 | -€324,827 | -€336,693 | -€342,477 | -€351,981 | -€353,515 | ▼ 0.4% |
| Amounts payable17/49 | €434,103 | €409,877 | €393,462 | €380,855 | €371,834 | ▼ 2.4% |
| Amounts payable after more than one year17 | €34,514 | €26,899 | €19,168 | €11,321 | €3,355 | ▼ 70.4% |
| Financial debts170/4 | - | €26,899 | €19,168 | €11,321 | €3,355 | ▼ 70.4% |
| Amounts payable within one year42/48 | €398,889 | €382,257 | €374,294 | €368,814 | €367,679 | ▼ 0.3% |
| Current portion of amounts payable after more than one year42 | - | €7,616 | €7,731 | €7,847 | €7,966 | ▲ 1.5% |
| Trade debts44 | €5,725 | €1,139 | €628 | €907 | €1,197 | ▲ 31.9% |
| Suppliers440/4 | - | €1,139 | €628 | €907 | €1,197 | ▲ 31.9% |
| Other amounts payable47/48 | - | €373,503 | €365,935 | €360,059 | €358,517 | ▼ 0.4% |
| Accrued charges and deferred income492/3 | - | €721 | €0 | €721 | €800 | ▲ 11.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,652 | -€11,867 | -€5,784 | -€9,504 | -€1,534 | ▲ 83.9% |
| + Depreciation and write-downs630 | €14,132 | €14,132 | €14,132 | €14,494 | €14,256 | ▼ 1.6% |
| Operating cash flow (approximation) | €2,481 | €2,266 | €8,349 | €4,990 | €12,722 | ▲ 155% |
| Investment in fixed assets (approximation) | - | -€90,387 | €0 | -€4,338 | €0 | ▲ 100% |
| Change in cash | - | -€21,960 | -€8,067 | -€11,954 | €1,819 | ▲ 115% |
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
14-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
23-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
09-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Weakest financial yearnet -€11,867
Net result drops to -€11,867, the lowest in the series; recovery starts the following year.
2021
13-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
05-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
24-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
20-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
19-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-01
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 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
No directors read yet: 0 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Roeselare · 1 establishment unit since 2007
Ground area
1,377 m²
Building footprint
190 m²
Volume, LiDAR
1,013 m³
Parcel 36302B1029/00M000, Flanders · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GROENSTAD
since 20072.166.452.537
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36302B1029/00M000 | Flanders | 1,377 m² | 1 · 190 m² | 8.0 m · 2 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 9,141 companies in this sector we hold annual accounts for 6,773. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded27-09-2007
Fiscal year end30-06
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0892686347
Also
9925:BE0892686347
Registered
08-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.