GRUSSENS
ActiveSummary
The computed 12-month bankruptcy probability of GRUSSENS is 2.0% (moderate). The 2025 annual accounts show equity of €54k and a net result of €-14k. Equity is growing by ~27.9% per year across the filed fiscal years. Its solvency ranks better than 37% of 7838 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability8▼-62
Solvency59▼-17
Growth78=
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days only on tighter terms
Liquidity tight (current ratio 1.48 against 1.88 in 2024; short-term debt: 66.1% and cash: 8.2% of total assets), and 66.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
33.8%
Return on assets
-8.6%
Age of the figures
9 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-09-2026, 49 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
49 d late
2024
61 d late
2023
65 d late
2022
31 d late
2021
61 d late
2020
27 d late
2019
49 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-14k
2024 · €1k
Working capital
€50k▼ 12.1%
2024 · €57k
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€3k▼ 84.2%€38k▲ 1,308%€17k▼ 55.7%€2k▼ 85.3%€-16k
Net result€1k▼ 91.5%€29k▲ 2,040%€13k▼ 55.4%€1k▼ 90.8%€-14k
Equity€25k▲ 5.6%€54k▲ 114%€66k▲ 23.7%€67k▲ 1.8%€54k▼ 20.3%
Total assets€124k▼ 23.4%€161k▲ 29.8%€155k▼ 3.8%€133k▼ 14.0%€159k▲ 19.6%
Debt€99k▼ 28.4%€107k▲ 8.4%€88k▼ 17.5%€65k▼ 25.9%€105k▲ 60.7%
Working capital€4k▲ 46.6%€34k▲ 727%€51k▲ 48.0%€57k▲ 12.3%€50k▼ 12.1%
Staff (FTE)2.8▼ 6.7%2▼ 28.6%2=2.3▲ 15.0%2.3=
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €16k after €2k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €159k
Fixed assets
€4k ▼ 66.4%
Current assets
€155k ▲ 27.5%
Equity and liabilities €159k
Equity
€54k ▼ 20.3%
Debt
€105k ▲ 60.7%
Debt's share of the balance-sheet total rises from 49.2% to 66.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-7k▼
2024 · €14k
Cash flow
€-4k▼
2024 · €13k
Current ratio
1.48▼
2024 · 1.88
Debt to equity
1.95▲
2024 · 0.97
ROE
-25.5%▼
2024 · 1.7%
ROA
-8.6%▼
2024 · 0.9%
Interest coverage
-3.32▼
2024 · 13.35
Debt ≤ 1 year
€105k▲
2024 · €65k
Staff costs
€131k▲
2024 · €126k
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 | - | €68 | - | - | - | - |
| Remuneration, social security and pensions62 | €75k | €101k | €118k | €126k | €131k | ▲ 4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11k | €12k | €12k | €11k | €9k | ▼ 18.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €-7k | - | €-340 | - | - |
| Other operating charges640/8 | €2k | €9k | €2k | €2k | €3k | ▲ 88.6% |
| Gross operating margin9900 | €90k | €153k | €149k | €141k | €128k | ▼ 9.6% |
| Operating profit (loss)9901 | €3k | €38k | €17k | €2k | €-16k | ▼ 739% |
| Financial income75/76B | €808 | €1k | €1k | €1k | €5k | ▲ 261% |
| Recurring financial income75 | €808 | €1k | €1k | €1k | €5k | ▲ 261% |
| Financial charges65/66B | €2k | €1k | €1k | €1k | €3k | ▲ 165% |
| Recurring financial charges65 | €2k | €1k | €1k | €1k | €2k | ▲ 89.5% |
| Non-recurring financial charges66B | - | - | - | - | €791 | - |
| Profit (loss) for the period before taxes9903 | €2k | €38k | €17k | €3k | €-14k | ▼ 589% |
| Income taxes67/77 | €643 | €9k | €4k | €2k | - | - |
| Profit (loss) for the period9904 | €1k | €29k | €13k | €1k | €-14k | ▼ 1,273% |
| Profit (loss) for the period to be appropriated9905 | €1k | €29k | €13k | €1k | €-14k | ▼ 1,273% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €124k | €161k | €155k | €133k | €159k | ▲ 19.6% |
| Fixed assets21/28 | €43k | €34k | €23k | €11k | €4k | ▼ 66.4% |
| Tangible fixed assets22/27 | €43k | €34k | €23k | €11k | €4k | ▼ 66.4% |
| Plant, machinery and equipment23 | €1k | €3k | €1k | €151 | €1k | ▲ 792% |
| Furniture and vehicles24 | €32k | €24k | €16k | €7k | €619 | ▼ 91.7% |
| Other tangible fixed assets26 | €9k | €7k | €5k | €4k | €2k | ▼ 50.0% |
| Financial fixed assets28 | €160 | - | - | - | - | - |
| Current assets29/58 | €81k | €127k | €132k | €122k | €155k | ▲ 27.5% |
| Amounts receivable within one year40/41 | €76k | €120k | €119k | €113k | €139k | ▲ 23.3% |
| Trade receivables40 | €45k | €88k | €91k | €71k | €83k | ▲ 15.5% |
| Other amounts receivable41 | €31k | €33k | €28k | €42k | €57k | ▲ 36.6% |
| Cash at bank and in hand54/58 | €3k | €5k | €10k | €6k | €13k | ▲ 119% |
| Deferred charges and accrued income490/1 | €2k | €1k | €3k | €3k | €3k | ▲ 0.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €124k | €161k | €155k | €133k | €159k | ▲ 19.6% |
| Equity10/15 | €25k | €54k | €66k | €67k | €54k | ▼ 20.3% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | - | - | - |
| Distributable reserves133 | - | - | - | €2k | €2k | = |
| Profit (loss) carried forward14 | €17k | €46k | €58k | €59k | €46k | ▼ 23.1% |
| Amounts payable17/49 | €99k | €107k | €88k | €65k | €105k | ▲ 60.7% |
| Amounts payable after more than one year17 | €22k | €15k | €7k | €341 | - | - |
| Financial debts170/4 | €22k | €15k | €7k | €341 | - | - |
| Amounts payable within one year42/48 | €77k | €92k | €81k | €65k | €105k | ▲ 62.3% |
| Current portion of amounts payable after more than one year42 | €9k | €9k | €10k | €9k | €6k | ▼ 31.1% |
| Trade debts44 | €64k | €81k | €69k | €54k | €96k | ▲ 77.5% |
| Suppliers440/4 | €64k | €81k | €69k | €54k | €96k | ▲ 77.5% |
| Taxes, remuneration and social security45 | €3k | €1k | €1k | €692 | €2k | ▲ 207% |
| Taxes450/3 | €1k | €1k | €1k | - | - | - |
| Remuneration and social security454/9 | €2k | - | - | €692 | €2k | ▲ 207% |
| Other amounts payable47/48 | €964 | €964 | €964 | €681 | €681 | = |
| Accrued charges and deferred income492/3 | - | - | - | €321 | €50 | ▼ 84.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1k | €29k | €13k | €1k | €-14k | ▼ 1,273% |
| + Depreciation and write-downs630 | €11k | €12k | €12k | €11k | €9k | ▼ 18.7% |
| Operating cash flow (approximation) | €12k | €40k | €25k | €13k | €-4k | ▼ 135% |
| Investment in fixed assets (approximation) | - | €-3k | €-742 | €0 | €-2k | - |
| Change in cash | - | €2k | €5k | €-4k | €7k | ▲ 275% |
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
18-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 49 days late
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
04-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 65 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €29k ▲2,040%
Operating result €38k, net result €29k, both a record.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 61 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 27 days late
2020
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 49 days late
2019
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 92 days late
2018
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 10 days late
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
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, Etterbeek · 1 establishment unit since 2013
Ground area
162 m²
Building footprint
292 m²
Volume, LiDAR
2,413 m³
Parcel 21363B0387/00D004, Brussels · tallest building 15.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Grussens
since 20132.228.938.254
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21363B0387/00D004 | Brussels | 162 m² | 1 · 292 m² | 15.0 m · 3 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.
Recognitions · licences · registrations
Recognised contractor
3 categoriesGRUSSENS SRL45990
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Of 7,044 companies in sector 43221 we hold annual accounts for 3,472. 2,981 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
Founded12-11-2013
Fiscal year end31-12
Activities, NACEBEL 2025
43221Plumbing work
33140Repair and maintenance of electrical equipment
43240Other construction installation
43320Joinery installation
43331Floor and wall tiling
43341Painting of buildings
Contact
E-mail
olivier@grussens.beEtterbeek
Phone
0479/57.94.46Etterbeek
Scores and ratios are computed by Checked and are not a credit decision.