The Grey
ActiveThe Grey has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €40k and a net result of €6k. Equity is growing by ~30.4% per year across the filed fiscal years. Its solvency ranks better than 43% of 788 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
71
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability54▼-46
Solvency64▼-32
Growth52=
Track record94
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity ample (current ratio 3.33 against 3.49 in 2024; short-term debt: 14.9% and cash: 48.5% of total assets), but 61.4% 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 · 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 78
Relative position
BE, all sectors
reference
Sector 78
lower
← 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
38.6%
Return on assets
5.7%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-02-2026, 172 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
172 d early
2024
11 d late
2023
21 d late
← 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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€40k▲ 17.3%
2024 · €34k
2023: €19k
2024: €34k
2023 → 2025
Total assets
€104k▲ 117%
2024 · €48k
2023: €35k
2024: €48k
2023 → 2025
Net result
€6k▼ 60.1%
2024 · €15k
2023: €16k
2024: €15k
2023 → 2025
Working capital
€36k▲ 5.2%
2024 · €34k
2023: €19k
2024: €34k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€19k-€34k▲ 76.6%€40k▲ 17.3%
Operating result€23k-€24k▲ 3.2%€12k▼ 51.3%
Net result€16k-€15k▼ 9.3%€6k▼ 60.1%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 51% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €104k
Fixed assets
€52k
Current assets
€51k
Equity and liabilities €104k
Equity
€40k▲ 17.3%
Debt
€64k▲ 365%
The debt ratio rises from 28.6% to 61.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€13k
Cash flow
€7k
Solvency
38.6%▼
2024 · 71.4%
Current ratio
3.33▼
2024 · 3.49
Quick ratio
3.33▼
2024 · 3.49
Debt / equity
1.59▲
2024 · 0.40
ROE
14.8%▼
2024 · 43.4%
ROA
5.7%▼
2024 · 31.0%
Interest coverage
3.40
Debt
€64k▲
2024 · €14k
Debt ≤ 1 year
€15k▲
2024 · €14k
Debt > 1 year
€48k
Income taxes
€2k▼
2024 · €6k
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€48k€104k▲
Fixed assets21/28-€52k
Tangible fixed assets22/27-€52k
Furniture and vehicles24-€2k
Other tangible fixed assets26-€51k
Current assets29/58€48k€51k▲
Amounts receivable within one year40/41€18k€1k▼
Trade receivables40€18k€1k▼
Other amounts receivable41€28€0▼
Cash at bank and in hand54/58€29k€50k▲
Equity and liabilities
Total equity and liabilities10/49€48k€104k▲
Equity10/15€34k€40k▲
Contributions10/11€3k€3k=
Reserves13€31k€37k▲
Distributable reserves133€31k€37k▲
Amounts payable17/49€14k€64k▲
Amounts payable after more than one year17-€48k
Financial debts170/4-€48k
Amounts payable within one year42/48€14k€15k▲
Trade debts44€180€2k▲
Suppliers440/4€180€2k▲
Taxes, remuneration and social security45€6k€5k▼
Taxes450/3€6k€5k▼
Remuneration and social security454/9€0-
Other amounts payable47/48€8k€9k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€1k
Other operating charges640/8€525€1k▲
Gross operating margin9900€25k€14k▼
Operating profit (loss)9901€24k€12k▼
Financial income75/76B€0€6▲
Recurring financial income75€0€6▲
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€20k€8k▼
Income taxes67/77€6k€2k▼
Profit (loss) for the period9904€15k€6k▼
Profit (loss) for the period to be appropriated9905€15k€6k▼
Appropriation of the result
Profit (loss) to be appropriated9906€15k€6k▼
Transfer to equity691/2€15k€6k▼
To other reserves6921€15k€6k▼
The notes to these accounts (16 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
09-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €6k ▼60.1%
Net result drops to €6k, the lowest in the series.
11-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 11 days late
2024
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Zemst · 1 establishment unit since 2022
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.
Villadreef 161982 ZemstGround area
678 m²
Parcel 23018A0143/00H003, Flanders. Linked by address, not a title deed.
1 establishment unit
The Grey
since 20222.338.773.532
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23018A0143/00H003 | Flanders | 678 m² | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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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ACCURIS
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Of 2,362 companies in sector 78100 we hold annual accounts for 1,365. 1,035 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-12-2022
Fiscal year end31-12
Activities, NACEBEL
78100Employment placement agencies
70200Business and other management consultancy
70220Business consulting
85599Other education
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.