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GRL Logistics

Active
Public limited companyfounded 1981active for 45 yearsIndustrieweg 190, 3583 Beringen, BelgiumKBO/BCE: BE 0421.925.353
Summary

GRL Logistics has been active since 1981 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.6m and a net result of €31,269, of which €135,711 non-recurring income. Equity is growing by about 7.2% per year across the filed financial years. Its solvency ranks better than 85% of 6,141 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Risk analysisFollow ReportCompare
GRL LogisticsActiveChecked score 88/100
Risk analysis ReportCompare

Overview

Activity
Wholesale trade
NACE 46872Waste collection, recovery and disposal activities NACE 38110
2 sites
Size
€6.7mturnover 2025
Staff
27.4 FTE
Equity
€4.6m
Profit
€31,269
Net result -89%: other schema
Financial health
88 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.3%
Structure
Parent
GRL HOLDING · 100%
Auditor: BV PwC Bedrijfsrevisoren2025 accounts 9 days early5 of 17 deeds summarised
Why 88raises risk1 change of registered office in 24 monthsSize: turnover €6.7m, 27.4 FTE, total assets €5.8mlowers riskFounded in 1981Equity €4.6m (79.4% of total assets)Show the evidence

Checked score

Score 2025
88 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 68% of its sector peers (NACE 46, small)
Every signal that counts is listed under Signals.
Financial strength · tick = 2024
Strong
Solvency 100=
equity 79.4% of total assets
Liquidity 54+4
short-term debt 17.1% · cash 6.6%
Profitability 76-8
return on assets 0.5%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (4,374 companies, NACE 46, small)
Last 24 months 11-2024: 0.2% 12-2024: 0.2%● unchanged vs 11-2024 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.2%● unchanged vs 01-2025 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025 06-2025: 0.2%● unchanged vs 05-2025 07-2025: 0.3%▲ +0.1 percentage points vs 06-2025 08-2025: 0.1%▼ -0.2 percentage points vs 07-2025lowest value 09-2025: 0.1%● unchanged vs 08-2025lowest value 10-2025: 0.3%▲ +0.2 percentage points vs 09-2025 11-2025: 0.3%● unchanged vs 10-2025 12-2025: 0.3%● unchanged vs 11-2025 01-2026: 0.2%▼ -0.1 percentage points vs 12-2025 02-2026: 0.2%● unchanged vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.3%▲ +0.1 percentage points vs 03-2026 05-2026: 0.3%● unchanged vs 04-2026 06-2026: 0.3%● unchanged vs 05-2026highest value 07-2026: 0.3%● unchanged vs 06-2026 08-2026: 0.3%● unchanged vs 07-2026 09-2026: 0.3%● unchanged vs 08-2026 10-2026: 0.3%● unchanged vs 09-2026
Credit of up to €400,000 on 30-day terms is acceptable
Liquidity ample (current ratio 3.28, compared with 2.55 in 2024, above the usual 1.5; short-term debt: 17.1% and cash: 6.6% of total assets), and 20.6% of the assets are financed with debt and provisions.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

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%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, small): better than 92% on solvency, 71% on liquidity, 74% on profitability and 37% on growth.

The bankruptcy probability was computed on 26-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
lowers risk · Founded in 1981
Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.
KBO
raises risk · Size: turnover €6.7m, 27.4 FTE, total assets €5.8m
Companies of this size fail more often; how much that weighs depends on the rest of its profile.
NBB · annual accounts
lowers risk · Equity €4.6m (79.4% of total assets)
NBB · annual accounts
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
9 days early
2024
31 days early
2023
8 days early
2022
27 days early
2021
20 days early
2020
9 days early
2019
17 days early
← 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 17 days before the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
27-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Weakest financial yearnet €31,269 ▼89.3%
  3. Permanent representative: Martine MeuwsRegistered-office move

Key points

  • Caution: Result fell in 2025different schema filed ▼ 89.3% View
  • Positive: Among the best 16% on solvencysector median 45.2% · 6,141 companies 79.4% View
  • Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
  • Controlled by GRL HOLDINGultimately: Rethmann SE & Co… 100% View
  • Positive: 7 profitable years in a rowprofit 2025: €31,269, mostly one-off 7 years View
  • Active since 1981founded 21-09-1981 45 years View

By topic

Financials

Financial year
2025
Turnover
€6.7m
Profit
€31,269
Solvency
79.4%
Turnover▼ 2.4%
Net result
20182025
Go to Financials

Board & ownership

Board
3 members
Parent
GRL HOLDING · 100%
Auditor
BV PwC Bedrijfsrevisoren
  • Christoph BildsteinDirector
  • Mervin BVBADirector
  • Stephan MüllerDirector
Go to Board & ownership

Timeline

Events
54
Since
1983
Next accounts
by 31-07-2027
  1. 30-06-2025Annual accounts filed
  2. 19-03-2025Permanent representatives: Griet Helsen, Khadija Aourz and…
  3. 31-12-2024Liquidity more than doubled
Go to Timeline

Company details

Sites
2
Legal form
Public limited company
Activity
Wholesale tradeNACE 46872
Founded
21-09-1981
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Key facts about GRL Logistics

What is the company number of GRL Logistics?
0421.925.353. In Belgium the VAT number is the company number with BE in front: BE 0421.925.353.
Where is GRL Logistics based?
The registered office is at Industrieweg 190, 3583 Beringen.Company details
What does GRL Logistics do?
According to the KBO register, the main activity is wholesale trade (NACE 46872).
What is the legal form of GRL Logistics?
Public limited company (NV).
When was GRL Logistics founded?
On 21-09-1981.
Is GRL Logistics still active?
Yes, GRL Logistics is an active enterprise in the KBO register.
How many employees does GRL Logistics have?
On average 27.4 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of GRL Logistics?
€6.7m in financial year 2025, according to the filed annual accounts.
Is GRL Logistics profitable?
In financial year 2025, GRL Logistics made a profit of €31,269.
Where can I find the annual accounts of GRL Logistics?
GRL Logistics filed 44 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of GRL Logistics due?
By 31-07-2027, for financial year 2026.Timeline

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