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VAN GRASDORFF

Active
Public limited companyfounded 197748 yrs activePandgatheide(OPP) 10, 2890 Puurs-Sint-Amands, BelgiumKBO/BCE: BE 0417.719.216
Summary

VAN GRASDORFF has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €10.8m and a net result of €967,831. Equity is growing by ~17.6% per year across the filed fiscal years. Its solvency ranks better than 77% of 85 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Risk analysisWatch ReportCompare
VAN GRASDORFFActiveChecked score 92/100
Risk analysis ReportCompare

Overview

Activity
Manufacture of paper and paper products
NACE 17210NACE 21210
#7 company by equity in the province of Antwerp, Paper sector1 site
Size
€20.5mturnover 2025
Staff
58.7 FTE
Equity
€10.8m
Profit
€967,831
Financial health
92 Excellent Checked score 2025
Bankruptcy chance 12 m
0.2%
Structure
Parent
Capsa BE · 100%
Accounts filed 17 d late0 of 11 deeds read
Why 92- Liquidity: current ratio 1.98, cash €421,098- Sector Manufacture of paper and paper products (NACE 17)+ Founded in 1977+ Size: turnover €20.5m, 58.7 FTE, total assets €16.2mShow the evidence

Checked score

Score 2025
92 / 100
Excellent
Probability in this band: under 0.55%
Better than 68% of its sector peers (NACE 17)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2024
Strong
Solvency 92+7
equity 67.1% of total assets
Liquidity 43+4
short-term debt 27.1% · cash 2.6%
Profitability 76+2
return on assets 6.0%
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (28 companies)
Last 16 months 07-2025: 0.2% 08-2025: 0.3%▲ +55.3% vs 07-2025 09-2025: 0.3%▼ -13.9% vs 08-2025 10-2025: 0.3%● 0.0% vs 09-2025 11-2025: 0.3%● 0.0% vs 10-2025 12-2025: 0.3%● 0.0% vs 11-2025 01-2026: 0.3%● 0.0% vs 12-2025 02-2026: 0.2%▼ -3.9% vs 01-2026 03-2026: 0.2%▲ +0.8% vs 02-2026 04-2026: 0.2%● 0.0% vs 03-2026 05-2026: 0.3%▲ +4.1% vs 04-2026 06-2026: 0.3%▲ +2.3% vs 05-2026 07-2026: 0.3%▼ -0.4% vs 06-2026 08-2026: 0.5%▲ +80.5% vs 07-2026highest value 09-2026: 0.2%▼ -61.8% vs 08-2026lowest value 10-2026: 0.2%● 0.0% vs 09-2026lowest value
  • Founded in 1977 lowers the probability for this profile
  • Liquidity: current ratio 1.98, cash €421,098 raises the probability
  • Size: turnover €20.5m, 58.7 FTE, total assets €16.2m lowers the probability for this profile
  • Sector Manufacture of paper and paper products (NACE 17) raises the probability
Credit up to €950,000 at 30 days acceptable
Liquidity ample (current ratio 1.98 against 1.56 in 2024; short-term debt: 27.1% and cash: 2.6% of total assets), and 32.9% of the assets are financed with debt.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 17). Better than this share of them on solvency 76%, liquidity 55%, profitability 79%, growth against the median 62%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Founded in 1977
In the bankruptcy model this factor lowers the probability for this profile.
KBO
raises risk · Liquidity: current ratio 1.98, cash €421,098
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Size: turnover €20.5m, 58.7 FTE, total assets €16.2m
In the bankruptcy model this factor lowers the probability for this profile.
NBB · annual accounts
raises risk · Sector Manufacture of paper and paper products (NACE 17)
In the bankruptcy model this factor raises the probability.
KBO
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 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 filings
Deviation from the deadline
2025
17 d late
2024
18 d late
2023
131 d late
2022
25 d early
2021
18 d early
2020
50 d early
2019
56 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 18 days after the deadline; the sector median for financial year 2024 is 13 days before the deadline, and 35% of the sector filed late.

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. Usually files around 17 August (4 of the last 5 filed years within 42 days of that day).
Companies Code · seven months
Position in the running window
02-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2025 · full…
  2. Equity above €10mEq €10.8m ▲9.8%
  3. Annual accounts filedfiscal year 2024 · full…

Key points

  • Positive: Company by equity in the province of Antwerp…in the Checked rankings #7 View
  • Positive: 8 profitable years in a rowprofit 2025: €967,831 8 years View
  • Controlled by Capsa BEknown shareholders 100% 100% View
  • Active since 1977founded 28-11-1977 48 years View

By topic

Financials

Fiscal year
2025
Turnover
€20.5m
Profit
€967,831
Solvency
67.1%
Turnover▲ 1.0%
Net result
20182025
Go to Financials

Timeline

Events
13
Since
2017
Next accounts
by 31-07-2027
  1. 17-08-2026Annual accounts filed
  2. 31-12-2025Equity above €10m
  3. 18-08-2025Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of paper and paper productsNACE 17210
Founded
28-11-1977
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies

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