GRDW
ActiveSummary
GRDW has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31k and a net result of €7k. Equity is growing by ~8.4% per year across the filed fiscal years. Its solvency ranks better than 95% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability97▲+26
Solvency100=
Growth22▼-13
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity ample (current ratio 54.55 against 6.6 in 2024; short-term debt: 1.8% and cash: 95.4% of total assets), and 1.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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
98.2%
Return on assets
22.6%
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 02-07-2026, 29 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
29 d early
2024
37 d early
2023
24 d early
2022
23 d early
2021
36 d early
2020
36 d early
← 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, micro schema
Turnover
€29k▼ 62.9%
2020 · €79k
2020: €79k
2021: €29k▼ -62.9% vs 2020
2020 → 2021
EBIT margin
54.3%▼ 8.2pp
2020 · 62.5%
2020: 62.5%
2021: 54.3%▼ -13.1% vs 2020
2020 → 2021
Net result
€7k▲ 362%
2024 · €2k
2020: €39khighest in 6 years
2021: €12k▼ -69.8% vs 2020
2022: €8k▼ -31.4% vs 2021
2023: €5k▼ -32.2% vs 2022
2024: €2k▼ -71.9% vs 2023lowest in 6 years
2025: €7k▲ +362% vs 2024
2020 → 2025
Working capital
€31k▼ 56.2%
2024 · €71k
2020: €20klowest value
2021: €38k▲ +88.7% vs 2020
2022: €52k▲ +37.3% vs 2021
2024: €71khighest value
2025: €31k▼ -56.2% vs 2024
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€29k-
Equity€56k-€64k▲ 14.5%€69k▲ 8.6%€71k▲ 2.2%€31k▼ 56.4%
2021: €56k
2022: €64k▲ +14.5% vs 2021
2023: €69k▲ +8.6% vs 2022
2024: €71k▲ +2.2% vs 2023highest in 5 years
2025: €31k▼ -56.4% vs 2024lowest in 5 years
Operating result€16k-€11k▼ 29.0%€8k▼ 27.2%€3k▼ 58.2%€10k▲ 205%
2021: €16khighest in 5 years
2022: €11k▼ -29.0% vs 2021
2023: €8k▼ -27.2% vs 2022
2024: €3k▼ -58.2% vs 2023lowest in 5 years
2025: €10k▲ +205% vs 2024
Net result€12k-€8k▼ 31.4%€5k▼ 32.2%€2k▼ 71.9%€7k▲ 362%
2021: €12khighest in 5 years
2022: €8k▼ -31.4% vs 2021
2023: €5k▼ -32.2% vs 2022
2024: €2k▼ -71.9% vs 2023lowest in 5 years
2025: €7k▲ +362% vs 2024
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 recovers in 2025; 2025 is 205% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €31k
Equity
€31k ▼ 56.4%
Debt
€577 ▼ 95.4%
Debt's share of the balance-sheet total falls from 15.1% to 1.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€11k▲
2024 · €9k
Cash flow
€7k▲
2024 · €7k
Current ratio
54.55▲
2024 · 6.60
Debt to equity
0.02▼
2024 · 0.18
ROE
23.0%▲
2024 · 2.2%
ROA
22.6%▲
2024 · 1.8%
Interest coverage
62.64▼
2024 · 66.41
Debt ≤ 1 year
€577▼
2024 · €13k
Income taxes
€3k▲
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 33 lines
Balance sheet
Code20242025
Assets
Total assets20/58€83k€31k▼
Fixed assets21/28€186-
Tangible fixed assets22/27€186-
Plant, machinery and equipment23€186-
Current assets29/58€83k€31k▼
Amounts receivable within one year40/41€11k-
Trade receivables40€11k-
Cash at bank and in hand54/58€71k€30k▼
Deferred charges and accrued income490/1€1k€1k▲
Equity and liabilities
Total equity and liabilities10/49€83k€31k▼
Equity10/15€71k€31k▼
Contributions10/11€5k€5k=
Reserves13€66k€26k▼
Distributable reserves133€66k€26k▼
Amounts payable17/49€13k€577▼
Amounts payable within one year42/48€13k€577▼
Trade debts44€8k€63▼
Suppliers440/4€8k€63▼
Taxes, remuneration and social security45€5k€514▼
Taxes450/3€5k€514▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€186▼
Other operating charges640/8€900€1k▲
Gross operating margin9900€10k€12k▲
Operating profit (loss)9901€3k€10k▲
Financial charges65/66B€137€170▲
Recurring financial charges65€137€170▲
Profit (loss) for the period before taxes9903€3k€10k▲
Income taxes67/77€2k€3k▲
Profit (loss) for the period9904€2k€7k▲
Profit (loss) for the period to be appropriated9905€2k€7k▲
Appropriation of the result
Profit (loss) to be appropriated9906€2k€7k▲
Transfer to equity691/2€2k€7k▲
To other reserves6921€2k€7k▲
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €29k | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €7k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €6k | €6k | €6k | €186 | ▼ 96.7% |
| Other operating charges640/8 | €360 | €461 | €923 | €900 | €1k | ▲ 17.9% |
| Gross operating margin9900 | €22k | €18k | €15k | €10k | €12k | ▲ 17.3% |
| Operating profit (loss)9901 | €16k | €11k | €8k | €3k | €10k | ▲ 205% |
| Financial income75/76B | €5 | - | - | - | - | - |
| Recurring financial income75 | €5 | - | - | - | - | - |
| Financial charges65/66B | €127 | €138 | €138 | €137 | €170 | ▲ 24.3% |
| Recurring financial charges65 | €127 | €138 | €138 | €137 | €170 | ▲ 24.3% |
| Profit (loss) for the period before taxes9903 | €16k | €11k | €8k | €3k | €10k | ▲ 212% |
| Income taxes67/77 | €4k | €3k | €3k | €2k | €3k | ▲ 81.4% |
| Profit (loss) for the period9904 | €12k | €8k | €5k | €2k | €7k | ▲ 362% |
| Profit (loss) for the period to be appropriated9905 | €12k | €8k | €5k | €2k | €7k | ▲ 362% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €61k | €72k | €69k | €83k | €31k | ▼ 62.3% |
| Fixed assets21/28 | €18k | €12k | €6k | €186 | - | - |
| Tangible fixed assets22/27 | €18k | €12k | €6k | €186 | - | - |
| Plant, machinery and equipment23 | €837 | €620 | €403 | €186 | - | - |
| Furniture and vehicles24 | €17k | €11k | €5k | - | - | - |
| Current assets29/58 | €43k | €61k | €63k | €83k | €31k | ▼ 62.2% |
| Amounts receivable within one year40/41 | - | €10k | €2k | €11k | - | - |
| Trade receivables40 | - | €10k | - | €11k | - | - |
| Other amounts receivable41 | - | - | €2k | - | - | - |
| Cash at bank and in hand54/58 | €42k | €50k | €61k | €71k | €30k | ▼ 57.7% |
| Deferred charges and accrued income490/1 | €1k | €1k | €1k | €1k | €1k | ▲ 6.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €61k | €72k | €69k | €83k | €31k | ▼ 62.3% |
| Equity10/15 | €56k | €64k | €69k | €71k | €31k | ▼ 56.4% |
| Contributions10/11 | €5k | €5k | €5k | €5k | €5k | = |
| Reserves13 | €51k | €59k | €64k | €66k | €26k | ▼ 60.6% |
| Distributable reserves133 | €51k | €59k | €64k | €66k | €26k | ▼ 60.6% |
| Amounts payable17/49 | €5k | €9k | - | €13k | €577 | ▼ 95.4% |
| Amounts payable within one year42/48 | €5k | €9k | - | €13k | €577 | ▼ 95.4% |
| Trade debts44 | €67 | €62 | - | €8k | €63 | ▼ 99.2% |
| Suppliers440/4 | €67 | €62 | - | €8k | €63 | ▼ 99.2% |
| Taxes, remuneration and social security45 | €5k | €9k | - | €5k | €514 | ▼ 89.7% |
| Taxes450/3 | €5k | €9k | - | €5k | €514 | ▼ 89.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €8k | €5k | €2k | €7k | ▲ 362% |
| + Depreciation and write-downs630 | €6k | €6k | €6k | €6k | €186 | ▼ 96.7% |
| Operating cash flow (approximation) | €18k | €14k | €11k | €7k | €7k | ▲ 1.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - |
| Change in cash | - | €8k | €11k | €10k | €-41k | ▼ 494% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity times 8current ratio 54.55
Current ratio from 6.60 to 54.55; short-term debt falls from €13k to €577.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €2k ▼71.9%
Net result drops to €2k, the lowest in the series; recovery starts the following year.
07-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
08-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity triplescurrent ratio 8.34
Current ratio from 2.61 to 8.34; short-term debt falls from €12k to €5k.
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Laarne · 1 establishment unit since 2019
Ground area
1,054 m²
Building footprint
135 m²
Volume, LiDAR
722 m³
Parcel 42010B1143/00E002, Flanders · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GRDW
since 20192.294.986.148
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42010B1143/00E002 | Flanders | 1,054 m² | 1 · 135 m² | 8.4 m · 2 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.
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 34,612 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
Founded24-10-2019
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Contact
Phone
0497/52.50.12
Scores and ratios are computed by Checked and are not a credit decision.