GROVERBO
ActiveGROVERBO has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €213k and a net result of €29k. Equity is growing by ~17.6% per year across the filed fiscal years. Its solvency ranks better than 18% of 2176 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
49
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability43▼-3
Solvency34▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity short (current ratio 0.89 against 1.07 in 2024; short-term debt: 48.2% and cash: 1.6% of total assets), and 91.5% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Sector 41
higher
← 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
8.5%
Return on assets
1.2%
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 18% of 2176 sector peers (2025).
NBB · sector comparisonPosition among 2176 sector peers
Solvency
better than 18%
← 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 20-08-2026, 20 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
20 d late
2024
61 d late
2023
192 d late
2022
59 d late
2021
5 d early
2020
22 d early
2019
3 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
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€213k▲ 15.7%
2024 · €184k
2018: €38k
2019: €81k
2020: €119k
2021: €163k
2022: €147k
2023: €153k
2024: €184k
2018 → 2025
Total assets
€2.49M▲ 12.6%
2024 · €2.21M
2018: €449k
2019: €726k
2020: €989k
2021: €824k
2022: €1.12M
2023: €1.83M
2024: €2.21M
2018 → 2025
Net result
€29k▼ 5.5%
2024 · €31k
2018: €7k
2019: €43k
2020: €38k
2021: €144k
2022: €-16k
2023: €7k
2024: €31k
2018 → 2025
Working capital
€-127k
2024 · €57k
2018: €-118k
2019: €-203k
2020: €-411k
2021: €36k
2022: €16k
2023: €-29k
2024: €57k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€163k-€147k▼ 10.0%€153k▲ 4.7%€184k▲ 19.9%€213k▲ 15.7%
Operating result€203k-€45k▼ 78.0%€63k▲ 41.6%€102k▲ 60.5%€110k▲ 7.9%
Net result€144k-€-16k€7k€31k▲ 348%€29k▼ 5.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 8% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.49M
Fixed assets
€1.42M▲ 1.4%
Current assets
€1.08M▲ 32.0%
Equity and liabilities €2.49M
Equity
€213k▲ 15.7%
Debt
€2.28M▲ 12.4%
The debt ratio falls from 91.7% to 91.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€195k▼
2024 · €197k
Cash flow
€114k▼
2024 · €126k
Solvency
8.5%▲
2024 · 8.3%
Current ratio
0.89▼
2024 · 1.07
Quick ratio
0.32▼
2024 · 0.41
Debt / equity
10.71▼
2024 · 11.03
ROE
13.6%▼
2024 · 16.6%
ROA
1.2%▼
2024 · 1.4%
Interest coverage
2.73▼
2024 · 3.02
Debt
€2.28M▲
2024 · €2.03M
Debt ≤ 1 year
€1.20M▲
2024 · €758k
Debt > 1 year
€1.08M▼
2024 · €1.27M
Income taxes
€15k▼
2024 · €16k
Staff costs
€413k▼
2024 · €447k
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€2.21M€2.49M▲
Fixed assets21/28€1.40M€1.42M▲
Tangible fixed assets22/27€1.40M€1.42M▲
Land and buildings22€1.27M€1.32M▲
Plant, machinery and equipment23€64k€65k▲
Furniture and vehicles24€60k€30k▼
Financial fixed assets28€3k€1k▼
Current assets29/58€815k€1.08M▲
Stocks and contracts in progress3€500k€691k▲
Stocks30/36€466k€682k▲
Contracts in progress37€35k€10k▼
Amounts receivable within one year40/41€160k€341k▲
Trade receivables40€119k€279k▲
Other amounts receivable41€41k€62k▲
Cash at bank and in hand54/58€140k€40k▼
Deferred charges and accrued income490/1€15k€3k▼
Equity and liabilities
Total equity and liabilities10/49€2.21M€2.49M▲
Equity10/15€184k€213k▲
Contributions10/11€19k€19k=
Reserves13€244k€244k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Tax-exempt reserves132€3k€3k=
Distributable reserves133€239k€239k=
Profit (loss) carried forward14€-78k€-49k▲
Amounts payable17/49€2.03M€2.28M▲
Amounts payable after more than one year17€1.27M€1.08M▼
Financial debts170/4€1.05M€964k▼
Trade debts175€224k€114k▼
Amounts payable within one year42/48€758k€1.20M▲
Current portion of amounts payable after more than one year42€107k€104k▼
Financial debts43€294k€483k▲
Credit institutions430/8€294k€483k▲
Trade debts44€195k€446k▲
Suppliers440/4€195k€446k▲
Taxes, remuneration and social security45€65k€26k▼
Taxes450/3€60k€21k▼
Remuneration and social security454/9€4k€5k▲
Other amounts payable47/48€97k€143k▲
Income statement
Code20242025
Non-recurring operating income76A€5k€0▼
Remuneration, social security and pensions62€447k€413k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€96k€86k▼
Other operating charges640/8€37k€21k▼
Gross operating margin9900€682k€629k▼
Operating profit (loss)9901€102k€110k▲
Financial income75/76B€10k€6k▼
Recurring financial income75€10k€6k▼
Financial charges65/66B€65k€71k▲
Recurring financial charges65€65k€71k▲
Profit (loss) for the period before taxes9903€46k€44k▼
Income taxes67/77€16k€15k▼
Profit (loss) for the period9904€31k€29k▼
Profit (loss) for the period to be appropriated9905€31k€29k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-48k€-49k▼
Profit (loss) brought forward from the previous period14P€-78k€-78k=
Transfer to equity691/2€31k€0▼
To other reserves6921€31k€0▼
Social balance
Average headcount (FTE)90878.17.3▼
The notes to these accounts (18 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
20-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 20 days late
2025
31-12
Financial
Equity above €200kEq €213k ▲15.7%
3 profitable years in a row build equity to €213k.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 61 days late
08-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 192 days late
2023
31-12
Financial
Back to profitnet €7k
Net result €7k after one loss-making year.
31-12
Financial
Equity above €150kEq €153k ▲4.7%
Equity rises from €147k to €153k.
28-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 59 days late
2022
31-12
Financial
Weakest financial yearnet €-16k ▼111%
Net result drops to €-16k, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €144k ▲275%
Operating result €203k, net result €144k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.08
Current ratio from 0.44 to 1.08; short-term debt falls from €734k to €444k.
31-12
Financial
Equity above €150kEq €163k ▲36.4%
4 profitable years in a row build equity to €163k.
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €100kEq €119k ▲47.1%
3 profitable years in a row build equity to €119k.
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
01-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
21-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
05-10
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 66 days late
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, Kortrijk · 1 establishment unit since 2015
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.
Meubelmakersdreef(Bel) 168510 KortrijkGround area
3.0 ha
Building footprint
130 m²
Volume, LiDAR
890 m³
2 parcels, Flanders · tallest building 12.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Groverbo
since 20152.259.513.347
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34001A0679/00E000 | Flanders | 2.6 ha | 1 · 130 m² | 12.0 m · 3 fl. |
| 34005C0208/00C012 | Flanders | 3,426 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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 · 3,353 EUR awarded · 2,579 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 558 EUR | 577 EUR |
| 2024 | 1 | 572 EUR | 315 EUR |
| 2023 | 1 | 1,320 EUR | 996 EUR |
| 2022 | 1 | 903 EUR | 691 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Dual-learning approval
4 live approvals · 2 endedMedewerker ruwbouw (vwo)
Medewerker ruwbouw duaal (so)
Metselaar (vwo)
Ruwbouw duaal (so)
Similar companies · same sector, comparable size
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INVESTEREN EN ONDERNEMEN MEERSCHMAN EN CO
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Gent · Eq €213k
Of 29,801 companies in sector 41001 we hold annual accounts for 16,045. 11,939 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded29-12-2015
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
41002Construction of residential and non-residential buildings
41003General construction of other non-residential buildings
68121Development of residential building projects
68122Development of non-residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 10 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.