GRISHA
ActiveSummary
GRISHA has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.39M and a net result of €97k. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 54% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-7
Solvency85▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days acceptable
Liquidity tight (current ratio 1.27 against 1.2 in 2024; short-term debt: 9.6% and cash: 4.6% of total assets), and 40.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 →
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
59.8%
Return on assets
4.2%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 4 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
3 d early
2023
29 d early
2022
40 d early
2021
13 d early
2020
25 d late
2019
49 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
Equity
€1.39M▲ 4.0%
2024 · €1.34M
2018: €889klowest in 8 years
2019: €933k▲ +5.0% vs 2018
2020: €1.01M▲ +8.5% vs 2019
2021: €1.06M▲ +4.3% vs 2020
2022: €1.07M▲ +0.9% vs 2021
2023: €1.14M▲ +7.0% vs 2022
2024: €1.34M▲ +17.0% vs 2023
2025: €1.39M▲ +4.0% vs 2024highest in 8 years
2018 → 2025
Total assets
€2.32M▼ 4.6%
2024 · €2.43M
2018: €2.42M
2019: €2.62M▲ +8.2% vs 2018highest in 8 years
2020: €2.47M▼ -5.7% vs 2019
2021: €2.57M▲ +3.9% vs 2020
2022: €2.47M▼ -3.9% vs 2021
2023: €2.38M▼ -3.6% vs 2022
2024: €2.43M▲ +2.2% vs 2023
2025: €2.32M▼ -4.6% vs 2024lowest in 8 years
2018 → 2025
Net result
€97k▼ 58.1%
2024 · €232k
2018: €38k
2019: €44k▲ +16.4% vs 2018
2020: €80k▲ +80.7% vs 2019
2021: €44k▼ -45.0% vs 2020
2022: €10k▼ -77.7% vs 2021lowest in 8 years
2023: €74k▲ +665% vs 2022
2024: €232k▲ +212% vs 2023highest in 8 years
2025: €97k▼ -58.1% vs 2024
2018 → 2025
Working capital
€59k▲ 33.6%
2024 · €45k
2018: €-908klowest in 8 years
2019: €-19k▲ +97.9% vs 2018
2020: €24k▲ +224% vs 2019
2021: €-65k▼ -374% vs 2020
2022: €-97k▼ -49.6% vs 2021
2023: €-55k▲ +42.7% vs 2022
2024: €45k▲ +181% vs 2023
2025: €59k▲ +33.6% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.06M-€1.07M▲ 0.9%€1.14M▲ 7.0%€1.34M▲ 17.0%€1.39M▲ 4.0%
2021: €1.06Mlowest in 5 years
2022: €1.07M▲ +0.9% vs 2021
2023: €1.14M▲ +7.0% vs 2022
2024: €1.34M▲ +17.0% vs 2023
2025: €1.39M▲ +4.0% vs 2024highest in 5 years
Operating result€90k-€40k▼ 55.1%€128k▲ 217%€352k▲ 175%€148k▼ 58.0%
2021: €90k
2022: €40k▼ -55.1% vs 2021lowest in 5 years
2023: €128k▲ +217% vs 2022
2024: €352k▲ +175% vs 2023highest in 5 years
2025: €148k▼ -58.0% vs 2024
Net result€44k-€10k▼ 77.7%€74k▲ 665%€232k▲ 212%€97k▼ 58.1%
2021: €44k
2022: €10k▼ -77.7% vs 2021lowest in 5 years
2023: €74k▲ +665% vs 2022
2024: €232k▲ +212% vs 2023highest in 5 years
2025: €97k▼ -58.1% vs 2024
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 58% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.32M
Fixed assets
€2.04M ▼ 5.7%
Current assets
€282k ▲ 4.4%
Equity and liabilities €2.32M
Equity
€1.39M ▲ 4.0%
Debt
€935k ▼ 14.9%
Debt's share of the balance-sheet total falls from 45.1% to 40.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€278k▼
2024 · €480k
Cash flow
€227k▼
2024 · €361k
Current ratio
1.27▲
2024 · 1.20
Debt to equity
0.67▼
2024 · 0.82
ROE
7.0%▼
2024 · 17.4%
ROA
4.2%▼
2024 · 9.5%
Interest coverage
15.83▼
2024 · 23.73
Debt ≤ 1 year
€222k▼
2024 · €225k
Debt > 1 year
€712k▼
2024 · €873k
Income taxes
€41k▼
2024 · €103k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.43M€2.32M▼
Fixed assets21/28€2.16M€2.04M▼
Tangible fixed assets22/27€1.71M€1.59M▼
Land and buildings22€596k€482k▼
Plant, machinery and equipment23€2k€2k▲
Furniture and vehicles24€36k€26k▼
Other tangible fixed assets26€1.08M€1.08M=
Financial fixed assets28€451k€451k=
Current assets29/58€270k€282k▲
Amounts receivable within one year40/41€172k€169k▼
Trade receivables40€29k-
Other amounts receivable41€143k€169k▲
Cash at bank and in hand54/58€92k€107k▲
Deferred charges and accrued income490/1€5k€6k▲
Equity and liabilities
Total equity and liabilities10/49€2.43M€2.32M▼
Equity10/15€1.34M€1.39M▲
Contributions10/11€19k€19k=
Reserves13€1.32M€1.37M▲
Distributable reserves133€1.32M€1.37M▲
Amounts payable17/49€1.10M€935k▼
Amounts payable after more than one year17€873k€712k▼
Financial debts170/4€873k€712k▼
Amounts payable within one year42/48€225k€222k▼
Current portion of amounts payable after more than one year42€158k€161k▲
Trade debts44€5k€8k▲
Suppliers440/4€5k€8k▲
Taxes, remuneration and social security45€63k€53k▼
Taxes450/3€63k€53k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€128k€130k▲
Other operating charges640/8€5k€6k▲
Gross operating margin9900€486k€284k▼
Operating profit (loss)9901€352k€148k▼
Financial income75/76B€4k€8k▲
Recurring financial income75€4k€8k▲
Financial charges65/66B€20k€18k▼
Recurring financial charges65€20k€18k▼
Profit (loss) for the period before taxes9903€335k€138k▼
Income taxes67/77€103k€41k▼
Profit (loss) for the period9904€232k€97k▼
Profit (loss) for the period to be appropriated9905€232k€97k▼
Appropriation of the result
Profit (loss) to be appropriated9906€232k€97k▼
Transfer from equity791/2€38k€44k▲
Transfer to equity691/2€232k€97k▼
To other reserves6921€232k€97k▼
Profit to be distributed694/7€38k€44k▲
Return on contributions (dividend)694€38k€44k▲
The notes to these accounts (9 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €-69 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €168k | €121k | €127k | €128k | €130k | ▲ 1.1% |
| Other operating charges640/8 | €5k | €5k | €7k | €5k | €6k | ▲ 16.5% |
| Gross operating margin9900 | €263k | €167k | €263k | €486k | €284k | ▼ 41.6% |
| Operating profit (loss)9901 | €90k | €40k | €128k | €352k | €148k | ▼ 58.0% |
| Financial income75/76B | - | €0 | - | €4k | €8k | ▲ 112% |
| Recurring financial income75 | - | €0 | - | €4k | €8k | ▲ 112% |
| Financial charges65/66B | €29k | €26k | €24k | €20k | €18k | ▼ 13.4% |
| Recurring financial charges65 | €29k | €26k | €24k | €20k | €18k | ▼ 13.4% |
| Profit (loss) for the period before taxes9903 | €61k | €14k | €104k | €335k | €138k | ▼ 58.8% |
| Income taxes67/77 | €17k | €5k | €30k | €103k | €41k | ▼ 60.4% |
| Profit (loss) for the period9904 | €44k | €10k | €74k | €232k | €97k | ▼ 58.1% |
| Profit (loss) for the period to be appropriated9905 | €44k | €10k | €74k | €232k | €97k | ▼ 58.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.57M | €2.47M | €2.38M | €2.43M | €2.32M | ▼ 4.6% |
| Fixed assets21/28 | €2.43M | €2.35M | €2.23M | €2.16M | €2.04M | ▼ 5.7% |
| Tangible fixed assets22/27 | €1.98M | €1.90M | €1.78M | €1.71M | €1.59M | ▼ 7.2% |
| Land and buildings22 | €652k | €630k | €607k | €596k | €482k | ▼ 19.0% |
| Plant, machinery and equipment23 | €1k | €573 | €1k | €2k | €2k | ▲ 4.9% |
| Furniture and vehicles24 | €19k | €56k | €46k | €36k | €26k | ▼ 26.2% |
| Other tangible fixed assets26 | €1.31M | €1.22M | €1.12M | €1.08M | €1.08M | = |
| Financial fixed assets28 | €451k | €451k | €451k | €451k | €451k | = |
| Current assets29/58 | €143k | €117k | €153k | €270k | €282k | ▲ 4.4% |
| Amounts receivable within one year40/41 | €102k | €35k | €114k | €172k | €169k | ▼ 2.2% |
| Trade receivables40 | €95k | €20k | €99k | €29k | - | - |
| Other amounts receivable41 | €7k | €15k | €15k | €143k | €169k | ▲ 17.8% |
| Cash at bank and in hand54/58 | €38k | €77k | €33k | €92k | €107k | ▲ 16.5% |
| Deferred charges and accrued income490/1 | €3k | €5k | €5k | €5k | €6k | ▲ 5.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.57M | €2.47M | €2.38M | €2.43M | €2.32M | ▼ 4.6% |
| Equity10/15 | €1.06M | €1.07M | €1.14M | €1.34M | €1.39M | ▲ 4.0% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €1.04M | €1.05M | €1.12M | €1.32M | €1.37M | ▲ 4.0% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €1.04M | €1.05M | €1.12M | €1.32M | €1.37M | ▲ 4.0% |
| Amounts payable17/49 | €1.51M | €1.40M | €1.24M | €1.10M | €935k | ▼ 14.9% |
| Amounts payable after more than one year17 | €1.30M | €1.19M | €1.03M | €873k | €712k | ▼ 18.4% |
| Financial debts170/4 | €1.30M | €1.19M | €1.03M | €873k | €712k | ▼ 18.4% |
| Amounts payable within one year42/48 | €207k | €213k | €208k | €225k | €222k | ▼ 1.4% |
| Current portion of amounts payable after more than one year42 | €143k | €153k | €156k | €158k | €161k | ▲ 1.7% |
| Trade debts44 | €7k | €8k | €3k | €5k | €8k | ▲ 78.7% |
| Suppliers440/4 | €7k | €8k | €3k | €5k | €8k | ▲ 78.7% |
| Taxes, remuneration and social security45 | €32k | €16k | €31k | €63k | €53k | ▼ 15.1% |
| Taxes450/3 | €32k | €16k | €31k | €63k | €53k | ▼ 15.1% |
| Other amounts payable47/48 | €25k | €37k | €18k | - | - | - |
| Accrued charges and deferred income492/3 | €3k | €4k | €1k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44k | €10k | €74k | €232k | €97k | ▼ 58.1% |
| + Depreciation and write-downs630 | €168k | €121k | €127k | €128k | €130k | ▲ 1.1% |
| Operating cash flow (approximation) | €212k | €131k | €202k | €361k | €227k | ▼ 37.0% |
| Investment in fixed assets (approximation) | - | €-47k | €-3k | €-63k | €-7k | ▲ 88.7% |
| Change in cash | - | €39k | €-43k | €59k | €15k | ▼ 74.1% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €232k ▲212%
Operating result €352k, net result €232k, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €10k ▼77.7%
Net result drops to €10k, the lowest in the series; recovery starts the following year.
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Equity above €1MEq €1.01M ▲8.5%
3 profitable years in a row build equity to €1.01M.
12-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
05-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Rixensart · 1 establishment unit since 2001
Ground area
3,459 m²
Building footprint
179 m²
Parcel 25033A0555/00A000, Wallonia. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
Avenue des Merisiers 6, 1332 Rixensart
since 20012.098.172.455
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25033A0555/00A000 | Wallonia | 3,459 m² | 1 · 179 m² | - |
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. 24,249 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
Founded20-03-2001
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
78100Employment placement agencies
78200Temporary employment agencies and other provision of personnel
Contact
Phone
026535513
Fax
026535513
Scores and ratios are computed by Checked and are not a credit decision.