GRS Projects
Annual accounts 2025
micro format, filed on 19-03-2026, 42 days before the deadline€8,275
▼ 61.3%
-€1,881
▼ €12,075
-€8,300
▼ €11,462
€74,457
▲ 8.9%
11.6%
▼ 5.0 percentage points
3.20
▲ 0.62
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €83,000. Estimated: probably between €48,000 and €180,000.
Balance sheet
balance sheet total €125,466 on 30-09-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
11.6%
Higher than 15% of 35,125 companies in 2025.
3.20
Higher than 73% of 34,499 companies in 2025.
-6.6%
Higher than 14% of 34,700 companies in 2025.
GRS Projects
Middle half of the sector
80% of the sector
Micro accounts in specialised construction (NACE 43)
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half
Staff
Staff costs divided by the average number of full-time equivalents.
Blue and white collar
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||
20/58 |
125,466 | 137,308 | 132,320 | 185,765 | 121,580 | 26,153 | 693 | 9,719 | 15,201 | 14,471 | 25,566 | 35,038 | |
21/28 |
17,148 | 25,549 | 25,317 | 26,093 | 8,146 | - | - | - | 7,200 | 14,400 | 22,533 | 30,665 | |
21 |
- | - | - | - | - | - | 0 | - | - | - | 400 | 800 | |
22/27 |
17,148 | 25,549 | 25,317 | 26,093 | 8,146 | - | - | - | 7,200 | 14,400 | 22,133 | 29,865 | |
23 |
500 | 917 | - | - | - | - | - | - | - | - | - | - | |
24 |
16,648 | 24,632 | 25,317 | 26,093 | 8,146 | - | - | - | 7,200 | 14,400 | 22,133 | 29,865 | |
29/58 |
108,317 | 111,759 | 107,003 | 159,673 | 113,434 | 26,153 | 693 | 9,719 | 8,001 | 71 | 3,033 | 4,373 | |
3 |
6,512 | 9,000 | 21,270 | 44,016 | 17,016 | - | - | - | - | - | - | - | |
30/36 |
6,512 | 9,000 | 21,270 | 17,016 | 17,016 | - | - | - | - | - | - | - | |
37 |
- | - | 0 | 27,000 | - | - | - | - | - | - | - | - | |
40/41 |
101,653 | 88,060 | 78,157 | 107,156 | 73,005 | 17,821 | 693 | 9,584 | 8,001 | - | - | - | |
40 |
99,641 | 82,743 | 75,090 | 102,723 | 56,010 | 13,024 | - | - | - | - | - | - | |
41 |
2,012 | 5,317 | 3,067 | 4,433 | 16,995 | 4,797 | 693 | 9,584 | 8,001 | - | - | - | |
54/58 |
153 | 14,698 | 7,310 | 8,501 | 22,893 | 6,915 | - | 135 | - | 71 | 3,033 | 4,373 | |
490/1 |
- | 0 | 265 | 0 | 520 | 1,417 | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||
10/49 |
125,466 | 137,308 | 132,320 | 185,765 | 121,580 | 26,153 | 693 | 9,719 | 15,201 | 14,471 | 25,566 | 35,038 | |
10/15 |
14,606 | 22,906 | 19,744 | 15,630 | 15,931 | 6,697 | 693 | 693 | 516 | 605 | 561 | 6,470 | |
10/11 |
6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | 6,400 | |
100 |
- | - | - | - | - | - | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | |
101 |
- | - | - | - | - | - | 13,600 | 13,600 | 13,600 | 13,600 | 13,600 | 13,600 | |
13 |
16,297 | 16,297 | 13,297 | 8,297 | 297 | 297 | 70 | 70 | 70 | 70 | 70 | 70 | |
130/1 |
297 | 297 | 297 | 297 | 297 | 297 | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 70 | 70 | 70 | 70 | 70 | 70 | |
1311 |
297 | 297 | 297 | 297 | 297 | 297 | - | - | - | - | - | - | |
133 |
16,000 | 16,000 | 13,000 | 8,000 | - | - | - | - | - | - | - | - | |
14 |
-8,091 | 209 | 47 | 933 | 9,234 | 0 | -5,777 | -5,777 | -5,953 | -5,864 | -5,909 | - | |
17/49 |
110,860 | 114,402 | 112,577 | 170,135 | 105,649 | 19,456 | - | 9,026 | 14,685 | 13,865 | 25,005 | 28,569 | |
17 |
77,000 | 71,000 | 75,000 | 57,000 | 30,000 | - | - | - | 1,938 | 6,510 | 10,971 | 15,324 | |
170/4 |
77,000 | 71,000 | 75,000 | 57,000 | 30,000 | - | - | - | 1,938 | 6,510 | 10,971 | 15,324 | |
42/48 |
33,860 | 43,402 | 37,577 | 113,135 | 75,649 | 19,456 | - | 9,026 | 12,747 | 7,355 | 14,034 | 13,245 | |
42 |
- | - | - | - | - | - | - | 1,922 | 4,174 | 4,461 | 4,353 | 4,247 | |
43 |
- | - | - | - | - | - | - | - | 1,582 | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | 1,582 | - | - | - | |
44 |
28,150 | 29,479 | 23,875 | 93,980 | 53,807 | 13,406 | - | 7,104 | 6,991 | 881 | 4,293 | 1,745 | |
440/4 |
28,150 | 29,479 | 23,875 | 93,980 | 53,807 | 13,406 | - | 7,104 | 6,991 | 881 | 4,293 | 1,745 | |
45 |
5,015 | 13,779 | 11,052 | 18,010 | 13,586 | 4,195 | - | - | - | - | - | 283 | |
450/3 |
3,937 | 12,220 | 7,217 | 7,656 | 6,649 | 2,324 | - | - | - | - | - | 283 | |
454/9 |
1,078 | 1,558 | 3,835 | 10,354 | 6,938 | 1,870 | - | - | - | - | - | - | |
47/48 |
695 | 144 | 2,649 | 1,145 | 8,256 | 1,855 | - | - | - | 2,013 | 5,388 | 6,970 | |
| Income statement | |||||||||||||
76A |
- | - | 0 | 18,026 | - | - | - | - | - | - | - | - | |
9900 |
8,275 | 21,383 | 34,526 | 85,156 | 64,969 | 27,600 | - | 10,989 | 9,182 | 9,694 | 6,264 | 10,378 | |
62 |
517 | 0 | 7,244 | 75,207 | 42,196 | 19,642 | - | - | - | - | - | - | |
630 |
8,401 | 7,297 | 6,332 | 1,390 | 136 | - | - | 7,200 | 7,200 | 8,133 | 8,133 | 8,133 | |
631/4 |
0 | - | - | 0 | 1,060 | - | - | - | - | - | - | - | |
640/8 |
1,239 | 3,892 | 6,799 | 2,544 | 3,924 | 199 | - | 1,219 | 478 | 625 | 1,132 | 1,843 | |
9901 |
-1,881 | 10,194 | 14,150 | 6,014 | 17,653 | 7,759 | - | 2,570 | 1,505 | 936 | -3,000 | 402 | |
75/76B |
19 | 0 | 9 | 4 | 569 | 845 | - | - | - | - | 1 | 4 | |
75 |
19 | 0 | 9 | 4 | 569 | 845 | - | - | - | - | 1 | 4 | |
65/66B |
4,327 | 4,130 | 4,902 | 1,944 | 3,191 | 494 | - | 511 | 502 | 520 | 491 | 337 | |
65 |
4,327 | 4,130 | 4,902 | 1,944 | 3,191 | 494 | - | 511 | 502 | 520 | 491 | 337 | |
9903 |
-6,189 | 6,064 | 9,256 | 4,075 | 15,031 | 8,109 | - | 2,058 | 1,002 | 417 | -3,490 | 70 | |
67/77 |
2,111 | 2,902 | 5,143 | 4,375 | 5,650 | 2,105 | - | 1,882 | 1,091 | 372 | 2,419 | - | |
9904 |
-8,300 | 3,162 | 4,114 | -301 | 9,381 | 6,004 | - | 177 | -89 | 44 | -5,909 | 70 | |
9905 |
-8,300 | 3,162 | 4,114 | -301 | 9,381 | 6,004 | - | 177 | -89 | 44 | -5,909 | 70 | |
| Appropriation of the result | |||||||||||||
9906 |
-8,091 | 3,209 | 5,047 | 8,933 | 9,234 | 227 | -5,777 | -5,777 | -5,953 | -5,864 | -5,909 | 70 | |
14P |
209 | 47 | 933 | 9,234 | -148 | - | - | - | - | - | - | - | |
691/2 |
0 | 3,000 | 5,000 | 8,000 | 0 | 227 | - | - | - | - | - | 70 | |
6920 |
- | - | - | - | 0 | 227 | - | - | - | - | - | 70 | |
6921 |
0 | 3,000 | 5,000 | 8,000 | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||
9087 |
- | - | - | - | - | 1 | - | - | - | - | - | - | |
| Document | |||||||||||||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 19-03-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 19-03-2026 | 2026-00057337 | |
| 30-09-2024 | micro format | 26-02-2025 | 2025-00040318 | |
| 30-09-2023 | micro format | 25-06-2024 | 2024-00191338 | |
| 30-09-2022 | micro format | 20-03-2023 | 2023-00042932 | |
| 30-09-2021 | micro format | 12-05-2022 | 2022-20025166 | |
| 30-09-2020 | micro format | 23-03-2021 | 2021-08200414 | |
| 30-09-2019 | micro format | 23-04-2020 | 2020-09700505 | |
| 30-09-2018 | micro format | 22-03-2019 | 2019-07700590 | |
| 30-09-2017 | micro format | 03-05-2018 | 2018-12100388 | |
| 30-09-2016 | abbreviated format | 30-03-2017 | 2017-08300395 | |
| 30-09-2015 | abbreviated format | 30-03-2016 | 2016-08300127 | |
| 30-09-2014 | abbreviated format | 29-04-2015 | 2015-11000100 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6,519 | 17,490 | 20,482 | 7,404 | 17,789 | - | - | 9,770 | 8,705 | 9,069 | 5,133 | 8,535 | ||
| 101 | 10,459 | 10,446 | 1,089 | 9,518 | - | - | 7,377 | 7,111 | 8,177 | 2,224 | 8,202 | ||
| 0 | 7,529 | 5,557 | 29,589 | 8,282 | 0 | - | 0 | 0 | 0 | 0 | 38,798 | ||
| -14,545 | 7,388 | -1,190 | -14,392 | 15,978 | - | - | - | - | -2,962 | -1,340 | - | ||
| 74,457 | 68,357 | 69,427 | 46,537 | 37,785 | 6,697 | - | 693 | -4,745 | -7,284 | -11,001 | -8,872 | ||
| 11.6% | 16.7% | 14.9% | 8.4% | 13.1% | 25.6% | - | 7.1% | 3.4% | 4.2% | 2.2% | 18.5% | ||
| 3.20 | 2.57 | 2.85 | 1.41 | 1.50 | 1.34 | - | 1.08 | 0.63 | 0.01 | 0.22 | 0.33 | ||
| 3.01 | 2.37 | 2.28 | 1.02 | 1.27 | 1.34 | - | 1.08 | 0.63 | 0.01 | 0.22 | 0.33 | ||
| 7.59 | 4.99 | 5.70 | 10.89 | 6.63 | 2.91 | - | - | - | - | - | 4.42 | ||
| -56.8% | 13.8% | 20.8% | -1.9% | 58.9% | 89.7% | - | - | - | - | - | 1.1% | ||
| -6.6% | 2.3% | 3.1% | -0.2% | 7.7% | 23.0% | - | 1.8% | -0.6% | 0.3% | -23.1% | 0.2% | ||
| 1.51 | 4.24 | 4.18 | 3.81 | 5.57 | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €7,529 | €5,557 | €29,589 | €8,282 |
| €8,401 | €7,297 | €6,332 | €1,390 | €136 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on GRS Projects
The operating result for 2025 is a loss of €1,881, after a profit of €10,194 in 2024. It is the lowest result since 2015.
Debt's share of the balance-sheet total rises from 83.3% to 88.4%. Equity and debt are lower.