GRAFIMMO · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of GRAFIMMO is 2.2% (moderate). The 2024 annual accounts show equity of €24k and a net result of €-27k. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 59% of 3380 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 17 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 22-09-2025, 53 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.

How we compute the deadline

The year end is derived from 4 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	22-09-2025	53 d late	2025-00497682
31-12-2023	31-07-2024	31-12-2024	153 d late	2025-00001857
31-12-2022	31-07-2023	30-12-2023	152 d late	2024-00546393
31-12-2021	31-07-2022	31-12-2022	153 d late	2023-20554331

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

2.2% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Annual accounts: weaker financial profile +Higher-failure-rate sector +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€-27k

Working capital€24k-51.6%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 22-09-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

stable Equity: stable across 4 fiscal years (±1.2%/year).

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	35.8%	25.2%	better than 59% of 3380 sector peers
Net result	€-27k	€4k	better than 11% of 3366 sector peers
Equity	€24k	€22k	better than 51% of 3387 sector peers
Gross operating margin	€36k	€19k	better than 63% of 3352 sector peers
Staff costs	€62k	€27k	higher than 75% of 946 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P59

Stable position over 2021-2024 · n=1573-3380

Net result P11

Weakening position over 2021-2024 · n=1575-3366

Equity P51

Stable position over 2021-2024 · n=1580-3387

Gross operating margin P63

Improving position over 2021-2024 · n=1571-3352

Describes the position versus peers, not a forecast.

EBITDA

€-26k

- 21-24

Net profit

€-27k

- 21-24

Cash flow

€-26k

- 21-24

Total assets

€68k

-31.3% 21-24

Equity

€24k

-52.4% 21-24

Working capital

€24k

-51.6% 21-24

Employees (FTE)

1

0.0% 21-24

Staff costs

€62k

+4.5% 21-24

Show 10 other metrics

Income taxes

€1k

-80.8% 21-24

Debt

€44k

-8.7% 21-24

Debt ≤ 1y

€44k

-8.7% 21-24

Current ratio

1.56

-24.1% 21-24

Quick ratio

1.56

-24.1% 21-24

Solvency

35.8%

-30.7% 21-24

Debt / equity

1.80

+91.8% 21-24

ROE

-110.1%

- 21-24

ROA

-39.4%

- 21-24

Interest coverage

-326.35

- 21-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€-26k
Net profit	€-27k
Cash flow	€-26k
Staff costs	€62k
Income taxes	-
Dividends	-
Total assets	€68k
Equity	€24k
Debt	€44k
of which ≤ 1y	€44k
of which > 1y	-
Working capital	€24k
Employees (FTE)	1.0

Ratios (computed)

	2024
Current ratio	1.56
Quick ratio	1.56
Working capital ratio	35.8%
Solvency	35.8%
Debt / equity	1.80
Long-term debt ratio	-
Interest coverage	-326.35
Gross margin	-
Net margin	-
ROA	-39.4%
ROE	-110.1%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Equity & liabilities

Equity €24k · 35.8% Debt €44k · 64.2%

Full annual accounts (18 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€68k
Current assets	29/58	€68k
Amounts receivable within one year	40/41	€56k
Cash & bank	54/58	€12k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€68k
Equity	10/15	€24k
Contributions / capital	10/11	€5k
Reserves	13	€46k
Accumulated profits (losses)	14	€-27k
Amounts payable	17/49	€44k
Amounts payable within one year	42/48	€44k
Trade debts payable within one year	44	€16k
Income statement
Gross operating margin	9900	€36k
Operating result	9901	€-27k
Financial charges	65	€79
Result before taxes	9903	€-27k
Net result for the period	9904	€-27k
Result to be appropriated	9905	€-27k

This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

45 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Directors

Directors & mandates

1 director

2 of this company's 2 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.

Former directors (1)

Decoster Erik
Director
State Gazette act 23071869 (02-06-2023)

Former
- → 29-09-2022

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	Handelsbemiddeling in de groothandel in andere specifieke goederen(46180)
Legal form	Private limited company(610)
Incorporation	14-07-2021
Status	Active
Postal code	1970

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Parcels1

Ground area2,411 m²

Buildings1

Building footprint241 m²

Volume (LiDAR)1,017 m³

Tallest building7.2 m · ±1 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)