GRS Technic
ActiveSummary
The computed 12-month bankruptcy probability of GRS Technic is 2.1% (moderate). The 2025 annual accounts show equity of €69,096 and a net result of €33,459. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 58% of 28051 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+22
Solvency79▲+18
Growth52▲+20
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity ample (current ratio 2.66 against 1.77 in 2024; short-term debt: 33.2% and cash: 8.4% of total assets), and 46% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
54%
Return on assets
26.2%
Age of the figures
15 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €69,096
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-02-2026, 5 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 · 6 filingsDeviation from the deadline
2025
5 d late
2024
111 d late
2023
103 d late
2022
365 d late
2021
17 d early
2020
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 99 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close26-09-2026 today31-01-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€69,096▲ 156%
2024 · €27,037
Total assets
€127,910▲ 72.6%
2024 · €74,113
Net result
€33,459▲ 510%
2024 · €5,483
Working capital
€70,726▲ 237%
2024 · €20,988
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€39,803€28,622-€24,698€9,091€54,430▲ 499%
Net result-€37,694€28,482-€26,442€5,483€33,459▲ 510%
Equity€19,513▼ 65.9%€47,995▲ 146%€21,554▼ 55.1%€27,037▲ 25.4%€69,096▲ 156%
Total assets€98,468▼ 32.5%€73,525▼ 25.3%€80,560▲ 9.6%€74,113▼ 8.0%€127,910▲ 72.6%
Debt€78,955▼ 11.0%€25,530▼ 67.7%€59,006▲ 131%€47,077▼ 20.2%€58,814▲ 24.9%
Working capital-€12,903€31,573€7,620▼ 75.9%€20,988▲ 175%€70,726▲ 237%
Staff (FTE)1=
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 499% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €127,910
Fixed assets
€14,661 ▼ 43.5%
Current assets
€113,249 ▲ 135%
Equity and liabilities €127,910
Equity
€69,096 ▲ 156%
Debt
€58,814 ▲ 24.9%
Debt's share of the balance-sheet total falls from 63.5% to 46.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€65,720▲
2024 · €24,462
Cash flow
€44,750▲
2024 · €20,854
Current ratio
2.66▲
2024 · 1.77
Debt to equity
0.85▼
2024 · 1.74
ROE
48.4%▲
2024 · 20.3%
ROA
26.2%▲
2024 · 7.4%
Interest coverage
36.15▲
2024 · 11.07
Debt ≤ 1 year
€42,523▲
2024 · €27,174
Debt > 1 year
€16,291▼
2024 · €19,903
Income taxes
€21,801▲
2024 · €1,400
Staff costs
€8,424▲
2024 · €258
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €4,166 | - | €3,647 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €176,777 | €167,444 | ▼ 5.3% |
| Remuneration, social security and pensions62 | - | €15,287 | €695 | €258 | €8,424 | ▲ 3,171% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,754 | €9,689 | €18,093 | €15,371 | €11,290 | ▼ 26.6% |
| Other operating charges640/8 | - | €1,769 | €1,576 | €819 | €998 | ▲ 21.9% |
| Gross operating margin9900 | -€14,396 | €55,367 | -€4,333 | €25,539 | €75,143 | ▲ 194% |
| Operating profit (loss)9901 | -€39,803 | €28,622 | -€24,698 | €9,091 | €54,430 | ▲ 499% |
| Financial income75/76B | - | - | - | €3 | €2,649 | ▲ 99,100% |
| Recurring financial income75 | - | - | - | €3 | €2,649 | ▲ 99,100% |
| Financial charges65/66B | - | €140 | €1,744 | €2,211 | €1,818 | ▼ 17.8% |
| Recurring financial charges65 | €769 | €140 | €1,744 | €2,211 | €1,818 | ▼ 17.8% |
| Profit (loss) for the period before taxes9903 | -€40,572 | €28,482 | -€26,442 | €6,883 | €55,260 | ▲ 703% |
| Income taxes67/77 | -€2,877 | - | - | €1,400 | €21,801 | ▲ 1,457% |
| Profit (loss) for the period9904 | -€37,694 | €28,482 | -€26,442 | €5,483 | €33,459 | ▲ 510% |
| Profit (loss) for the period to be appropriated9905 | -€37,694 | €28,482 | -€26,442 | €5,483 | €33,459 | ▲ 510% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €98,468 | €73,525 | €80,560 | €74,113 | €127,910 | ▲ 72.6% |
| Fixed assets21/28 | €32,416 | €26,864 | €44,539 | €25,951 | €14,661 | ▼ 43.5% |
| Intangible fixed assets21 | €19,049 | €13,049 | €7,049 | €1,049 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €12,167 | €12,615 | €36,290 | €23,702 | €13,461 | ▼ 43.2% |
| Plant, machinery and equipment23 | - | €600 | €360 | €406 | €229 | ▼ 43.7% |
| Furniture and vehicles24 | - | €12,015 | €35,930 | €23,295 | €13,232 | ▼ 43.2% |
| Financial fixed assets28 | €1,200 | €1,200 | €1,200 | €1,200 | €1,200 | = |
| Current assets29/58 | €66,052 | €46,661 | €36,021 | €48,162 | €113,249 | ▲ 135% |
| Amounts receivable within one year40/41 | €64,163 | €29,321 | €33,122 | €47,775 | €102,443 | ▲ 114% |
| Trade receivables40 | - | €9,057 | €18,436 | €3,862 | €9,473 | ▲ 145% |
| Other amounts receivable41 | - | €20,264 | €14,685 | €43,913 | €92,970 | ▲ 112% |
| Cash at bank and in hand54/58 | €1,890 | €17,340 | €2,038 | €388 | €10,806 | ▲ 2,688% |
| Deferred charges and accrued income490/1 | - | - | €862 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €98,468 | €73,525 | €80,560 | €74,113 | €127,910 | ▲ 72.6% |
| Equity10/15 | €19,513 | €47,995 | €21,554 | €27,037 | €69,096 | ▲ 156% |
| Contributions10/11 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €17,513 | €17,513 | €17,513 | €17,513 | €17,513 | = |
| Distributable reserves133 | - | €17,513 | €17,513 | €17,513 | €17,513 | = |
| Profit (loss) carried forward14 | - | €28,482 | €2,041 | €7,523 | €49,583 | ▲ 559% |
| Amounts payable17/49 | €78,955 | €25,530 | €59,006 | €47,077 | €58,814 | ▲ 24.9% |
| Amounts payable after more than one year17 | - | €10,442 | €30,605 | €19,903 | €16,291 | ▼ 18.1% |
| Financial debts170/4 | - | €10,442 | €30,605 | €19,903 | €16,291 | ▼ 18.1% |
| Amounts payable within one year42/48 | €78,955 | €15,088 | €28,401 | €27,174 | €42,523 | ▲ 56.5% |
| Current portion of amounts payable after more than one year42 | - | €3,213 | €6,553 | €3,473 | €2,797 | ▼ 19.5% |
| Financial debts43 | - | - | €2,482 | €2,161 | - | - |
| Credit institutions430/8 | - | - | €2,482 | €2,161 | - | - |
| Trade debts44 | €48,467 | €10,326 | €18,573 | €17,379 | €18,270 | ▲ 5.1% |
| Suppliers440/4 | - | €10,326 | €18,573 | €17,379 | €18,270 | ▲ 5.1% |
| Taxes, remuneration and social security45 | - | €1,228 | €793 | €4,161 | €21,454 | ▲ 416% |
| Taxes450/3 | - | €25 | €793 | €3,593 | €18,164 | ▲ 406% |
| Remuneration and social security454/9 | - | €1,202 | - | €568 | €3,290 | ▲ 479% |
| Other amounts payable47/48 | - | €321 | - | - | €2 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€37,694 | €28,482 | -€26,442 | €5,483 | €33,459 | ▲ 510% |
| + Depreciation and write-downs630 | €13,754 | €9,689 | €18,093 | €15,371 | €11,290 | ▼ 26.6% |
| Operating cash flow (approximation) | -€23,941 | €38,171 | -€8,348 | €20,854 | €44,750 | ▲ 115% |
| Investment in fixed assets (approximation) | - | -€4,137 | -€35,768 | €3,216 | €0 | ▼ 100% |
| Change in cash | - | €15,451 | -€15,303 | -€1,650 | €10,419 | ▲ 731% |
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
05-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
22-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 111 days late
2024
30-06
Financial
Back to profitnet €5,483
Net result €5,483 after one loss-making year.
13-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 103 days late
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 365 days late
2022
30-06
Financial
Back to profitnet €28,482
Net result €28,482 after one loss-making year.
30-06
Financial
Liquidity quadruplescurrent ratio 3.09
Current ratio from 0.84 to 3.09; short-term debt falls from €78,955 to €15,088.
14-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Weakest financial yearnet -€37,694
Net result drops to -€37,694, the lowest in the series; recovery starts the following year.
28-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 28 days late
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
3 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, Namur · 1 establishment unit since 2019
Ground area
463 m²
Building footprint
71 m²
Parcel 92302G0287/00S002, Wallonia. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
GRS Technic
since 20192.292.796.027
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92302G0287/00S002 | Wallonia | 463 m² | 1 · 71 m² | - |
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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Of 9,534 companies in sector 43222 we hold annual accounts for 5,666. 4,773 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
Founded04-09-2019
Fiscal year end30-06
Activities, NACEBEL 2025
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
Scores and ratios are computed by Checked and are not a credit decision.