GRUUTHUSE PROJECTS
ActiveSummary
GRUUTHUSE PROJECTS has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €6.2m and a net result of €1.1m. Equity remains stable across the filed fiscal years (±1.7% per year). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability41▲+25
Solvency100▲+28
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €440,000 at 30 days acceptable
Liquidity ample (current ratio 7.49 against 0.17 in 2024; short-term debt: 0.5% and cash: 2.6% of total assets), and 0.5% 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
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
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
99.5%
Return on assets
17.5%
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
19202122232425
2019 to 2025 · latest year €6.2m
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 29-01-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
45 d early
2023
64 d early
2022
43 d early
2021
42 d early
2020
24 d early
2019
46 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 38 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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 19 December (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€6.2m▲ 21.3%
2024 · €5.1m
Total assets
€6.2m▼ 42.7%
2024 · €10.9m
Net result
€1.1m
2024 · -€237,891
Working capital
€182,642
2024 · -€3.9m
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-€17,110▲ 99.6%-€90,527▼ 429%€264,299-€78,244-€59,303▲ 24.2%
Net result-€149,307▲ 96.4%-€146,356▲ 2.0%€166,825-€237,891€1.1m
Equity€5.3m▼ 2.7%€5.2m▼ 2.7%€5.4m▲ 3.2%€5.1m▼ 4.4%€6.2m▲ 21.3%
Total assets€13.8m▼ 5.1%€12.1m▼ 12.5%€11.0m▼ 9.4%€10.9m▼ 0.5%€6.2m▼ 42.7%
Debt€8.5m▼ 6.6%€6.9m▼ 18.7%€5.6m▼ 19.0%€5.8m▲ 3.4%€28,502▼ 99.5%
Working capital-€6.8m▲ 1.0%-€4.8m▲ 30.3%-€3.8m▲ 19.9%-€3.9m▼ 0.7%€182,642
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €59,303 in 2025 against €78,244 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.2m
Fixed assets
€6.0m ▼ 40.3%
Current assets
€210,766 ▼ 73.6%
Equity and liabilities €6.2m
Equity
€6.2m ▲ 21.3%
Debt
€28,502 ▼ 99.5%
Debt's share of the balance-sheet total falls from 53.0% to 0.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€34,132▲
2024 · -€54,136
Cash flow
€1.1m▲
2024 · -€213,783
Current ratio
7.49▲
2024 · 0.17
Debt to equity
0.00▼
2024 · 1.13
ROE
17.5%▲
2024 · -4.6%
ROA
17.5%▲
2024 · -2.2%
Interest coverage
-0.62▼
2024 · -0.29
Debt ≤ 1 year
€28,124▼
2024 · €4.6m
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 | - | - | €355,404 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €101,359 | €88,342 | €59,528 | €24,108 | €25,171 | ▲ 4.4% |
| Other operating charges640/8 | - | €16,238 | €8,025 | €10,674 | €15,417 | ▲ 44.4% |
| Gross operating margin9900 | €98,636 | €14,054 | €331,851 | -€43,462 | -€18,715 | ▲ 56.9% |
| Operating profit (loss)9901 | -€17,110 | -€90,527 | €264,299 | -€78,244 | -€59,303 | ▲ 24.2% |
| Financial income75/76B | - | €71,067 | €13,777 | €26,643 | €1.2m | ▲ 4,421% |
| Recurring financial income75 | €19,064 | €13,254 | €13,777 | €26,643 | €54 | ▼ 99.8% |
| Non-recurring financial income76B | - | €57,813 | - | - | €1.2m | - |
| Financial charges65/66B | - | €126,897 | €111,250 | €186,290 | €55,008 | ▼ 70.5% |
| Recurring financial charges65 | €151,261 | €126,897 | €111,250 | €186,290 | €55,008 | ▼ 70.5% |
| Profit (loss) for the period before taxes9903 | -€149,307 | -€146,356 | €166,825 | -€237,891 | €1.1m | ▲ 558% |
| Profit (loss) for the period9904 | -€149,307 | -€146,356 | €166,825 | -€237,891 | €1.1m | ▲ 558% |
| Profit (loss) for the period to be appropriated9905 | -€149,307 | -€146,356 | €166,825 | -€237,891 | €1.1m | ▲ 558% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13.8m | €12.1m | €11.0m | €10.9m | €6.2m | ▼ 42.7% |
| Fixed assets21/28 | €13.0m | €10.9m | €10.1m | €10.1m | €6.0m | ▼ 40.3% |
| Tangible fixed assets22/27 | €1.4m | €1.1m | €324,625 | €300,517 | €275,346 | ▼ 8.4% |
| Land and buildings22 | - | €1.1m | €324,625 | €300,517 | €275,346 | ▼ 8.4% |
| Financial fixed assets28 | €11.6m | €9.8m | €9.8m | €9.8m | €5.8m | ▼ 41.3% |
| Current assets29/58 | €857,033 | €1.2m | €822,581 | €796,948 | €210,766 | ▼ 73.6% |
| Stocks and contracts in progress3 | €39,197 | €16,000 | - | - | - | - |
| Stocks30/36 | - | €16,000 | - | - | - | - |
| Amounts receivable within one year40/41 | €666,220 | €666,130 | €668,332 | €663,147 | €3,961 | ▼ 99.4% |
| Trade receivables40 | - | €4,507 | €9,305 | €8,088 | €3,867 | ▼ 52.2% |
| Other amounts receivable41 | - | €661,623 | €659,027 | €655,059 | €94 | ▼ 100.0% |
| Current investments50/53 | €611 | €611 | €985 | €988 | - | - |
| Cash at bank and in hand54/58 | €103,074 | €478,897 | €81,875 | €34,469 | €165,176 | ▲ 379% |
| Deferred charges and accrued income490/1 | - | €57,612 | €71,389 | €98,344 | €41,629 | ▼ 57.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13.8m | €12.1m | €11.0m | €10.9m | €6.2m | ▼ 42.7% |
| Equity10/15 | €5.3m | €5.2m | €5.4m | €5.1m | €6.2m | ▲ 21.3% |
| Contributions10/11 | €7.0m | €7.0m | €7.0m | €7.0m | €7.0m | = |
| Capital10 | - | €7.0m | €7.0m | €7.0m | €7.0m | = |
| Issued capital100 | - | €7.0m | €7.0m | €7.0m | €7.0m | = |
| Reserves13 | €74,198 | €74,198 | €74,198 | €74,198 | €74,198 | = |
| Non-distributable reserves130/1 | - | €74,198 | €74,198 | €74,198 | €74,198 | = |
| Legal reserve130 | - | €74,198 | €74,198 | €74,198 | €74,198 | = |
| Profit (loss) carried forward14 | -€1.7m | -€1.8m | -€1.7m | -€1.9m | -€823,570 | ▲ 57.0% |
| Amounts payable17/49 | €8.5m | €6.9m | €5.6m | €5.8m | €28,502 | ▼ 99.5% |
| Amounts payable within one year42/48 | €7.7m | €6.0m | €4.6m | €4.6m | €28,124 | ▼ 99.4% |
| Trade debts44 | €10,006 | €52,671 | €11,942 | €13,215 | €10,542 | ▼ 20.2% |
| Suppliers440/4 | - | €52,671 | €11,942 | €13,215 | €10,542 | ▼ 20.2% |
| Taxes, remuneration and social security45 | - | - | - | €35 | €829 | ▲ 2,269% |
| Taxes450/3 | - | - | - | €35 | €829 | ▲ 2,269% |
| Other amounts payable47/48 | - | €5.9m | €4.6m | €4.6m | €16,753 | ▼ 99.6% |
| Accrued charges and deferred income492/3 | - | €900,276 | €940,449 | €1.1m | €378 | ▼ 100.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€149,307 | -€146,356 | €166,825 | -€237,891 | €1.1m | ▲ 558% |
| + Depreciation and write-downs630 | €101,359 | €88,342 | €59,528 | €24,108 | €25,171 | ▲ 4.4% |
| Operating cash flow (approximation) | -€47,949 | -€58,014 | €226,354 | -€213,783 | €1.1m | ▲ 622% |
| Investment in fixed assets (approximation) | - | €2.0m | €684,596 | €0 | €4.0m | ▲ 1,093,243,143% |
| Change in cash | - | €375,822 | -€397,021 | -€47,406 | €130,707 | ▲ 376% |
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
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
Financial
Back to profitnet €1.1m
Net result €1.1m after one loss-making year.
30-06
Financial
Liquidity times 44current ratio 7.49
Current ratio from 0.17 to 7.49; short-term debt falls from €4.6m to €28,124.
2024
17-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
28-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Back to profitnet €166,825
Net result €166,825 after 3 loss-making years.
2022
19-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
20-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
07-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-06
Financial
Weakest financial yearnet -€4.1m
Net result drops to -€4.1m, the lowest in the series; recovery starts the following year.
2019
16-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
17-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
12-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
02-12
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 10 acts read
About the unread acts
We know of 10 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
10 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 2000
Ground area
2.0 ha
Building footprint
2,922 m²
Volume, LiDAR
18,928 m³
2 parcels, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
President Kennedypark(Kor) 18, 8500 Kortrijk
since 20002.045.950.427
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34354D0147/00E000 | Flanders | 1.6 ha | 1 · 2,207 m² | 8.3 m · 2 fl. |
| 34354D0098/00D000 | Flanders | 3,636 m² | 1 · 715 m² | 8.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- LINTER
- GRUUTHUSE PROJECTS
Highest known parent: LINTER. The sources do not say who stands above it.
Owners 1
- LINTERparentSourceaccounts LINTER 2025100%
Holdings 1
-
99.99%
According to the annual accounts to 30-06-2025 of GRUUTHUSE PROJECTS and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Identification
Legal formPublic limited company
Founded26-10-1989
Fiscal year end30-06
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438772471
Registered
05-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.