Financials
- Fiscal year
- 2025
- Total assets
- €118.6m
- Loss
- -€121.1m
- Solvency
- 32.0%
WindGrid
ActiveSummary
The annual accounts of WindGrid for fiscal year 2025 show a net loss of 102% of total assets and of 314% of the equity at the start of that year. The 2025 annual accounts show equity of €37.9m and a net result of -€121.1m. Equity is growing by ~51.3% per year across the filed fiscal years. Its solvency ranks better than 49% of 345 sector peers (NACE 35, fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
Activity
Electricity, gas, steam and air conditioning supply
NACE 35130Business and other management consultancy NACE 70200
#6 company by total assets in Brussels, Energy sector1 site
Size
€118.6mtotal assets 2025
- Staff
- 4.1 FTE
- Equity
- €37.9m
- Loss
- -€121.1m
Turnover not published (abridged schema)Total assets +196%: capital increase
Why 55Capped at 59: a net loss of at least half of total assets or of the equity at the start of the financial year- Loss of €121.1m, the second in a row (FY 2025)+ Liquidity: current ratio 46.78, cash €31.5m+ Size: 4.1 FTE, total assets €118.6m+ Sector Electricity, gas, steam and air conditioning supply (NACE 35)Show the evidence
Checked score
Score 2025
55
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 45% of its sector peers (NACE 35, micro)
A net loss of at least half of total assets or of the equity at the start of the financial year caps the score at 59. Every signal that weighs is under Signals.
Financial strength · tick = 2024
Weak
Solvency
57-43
equity 32.0% of total assets
Liquidity
83+32
short-term debt 2.1% · cash 26.5%
Profitability
0-5
return on assets -102.1%
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).
Last 24 months
11-2024: 0.2%
12-2024: 0.2%● unchanged vs 11-2024lowest value
01-2025: 0.2%● unchanged vs 12-2024lowest value
02-2025: 0.2%● unchanged vs 01-2025lowest value
03-2025: 0.2%● unchanged vs 02-2025lowest value
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.5%▲ +0.3 percentage points vs 05-2025
07-2025: 0.5%● unchanged vs 06-2025highest value
08-2025: 0.5%● unchanged vs 07-2025
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.4%▼ -0.1 percentage points vs 11-2025
01-2026: 0.4%● unchanged vs 12-2025
02-2026: 0.4%● unchanged vs 01-2026
03-2026: 0.4%● unchanged vs 02-2026
04-2026: 0.5%▲ +0.1 percentage points vs 03-2026
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.3%▼ -0.2 percentage points vs 05-2026
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 up to €2,050,000 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 46.78 against 2.81 in 2024; short-term debt: 2.1% and cash: 26.5% of total assets), but 68% of the assets are financed with debt.
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 35, micro): better than 45% on solvency, 78% on liquidity, 8% on profitability and 48% on growth.
The bankruptcy probability was computed on 07-10-2026 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).
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals.
−lowers risk+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
22232425
2022 to 2025 · latest year -€121.1m
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 11-05-2026, 81 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
81 days early
2024
87 days early
2023
85 days early
2022
90 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 86 days before the deadline; the sector median for financial year 2024 is 22 days before the deadline, and 27% 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 7 May (4 of the last 4 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
08-10-2026 today31-12-2026 close31-07-2027 deadline
- Resignations: Christophe Durieux, Stefan Kapferer and…Appointment: Daniela Baratto (chief executive…
- Annual accounts filedfiscal year 2025 · abbreviated…
- Capital & sharesCapital increase · Share issue…
Key points
- Risk: 4 loss-making years in a rowloss fiscal year 2025 -€121.1m View
- Caution: Result fell in 2025from -€4.3m to -€121.1m ▼ 2,712% View
- Caution: Among the weakest 5% on net resultsector median €17,996 · 345 companies -€121.1m View
- Caution: Directors leftlatest change 31-03-2026 · 1 in office 4 left View
- Controlled by Elia Groupknown shareholders 100% 100% View
- EU supportawarded 2024 €325,000 View
- Positive: Always filed on timeaccounts within the deadline every year 4 years View
By topic
Board & ownership
- Board
- 1 member
- Parent
- Elia Group · 100%
- Known shareholders
- 100%
- Daniela BarattoCEO
Network & group
- Subsidiaries
- 1
1 subsidiary
Timeline
- Events
- 10
- Since
- 2023
- Next accounts
- by 31-07-2027
- 31-12-2025Weakest financial year
- 31-12-2025Liquidity times 17
- 24-12-2025Capital & shares · Statutes amendment
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- Electricity, gas, steam and air conditioning supplyNACE 35130
- Founded
- 01-04-2022
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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 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 Which other companies belong to the same group?Elia Group · 11 companies
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.