ACTIVE

Grizaco

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Financial year 2025 · closed on 31/12/2025
Net result
14,6 k €
-97.1% YoY
Revenue
26,6 M €
-1.5% YoY
Equity
1,7 M €
+0.0% YoY
Workforce
51,0 ETP
-3.6% YoY

What does Grizaco do?

Grizaco is a Public limited company incorporated in 1968. Its main activity is: Construction of roads and motorways. Its registered office is in Hasselt. It employs on average 51,0 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0401.302.757
Incorporation
01/01/1968
Legal form
Public limited company
Registered office
Scheepvaartkaai 4
3500 Hasselt · FlandreSee on map
Contributed capital
867 627,33 €
Latest accounts
31/12/2025
Average workforce
51,0 ETP
Activities (NACE)
42110Construction of roads and motorways· main42110Construction of roads and motorways45230Maintenance and repair of motor vehicles23990Manufacture of other non-metallic mineral products n.e.c.23990Manufacture of other non-metallic mineral products n.e.c.26820Manufacture of magnetic and optical media
Joint committees (3)
  • 124
  • 200
  • 218
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debtsHigh revenue
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 9 financial years

202520232020201520112010200920072006
Income statement
Revenue26,6 M €27 M €20,6 M €18,3 M €27,5 M €21,6 M €20,1 M €14,8 M €18,1 M €
EBITDA412,6 k €1,2 M €268,2 k €672,9 k €848,2 k €927,2 k €713,8 k €799,8 k €674,4 k €
Operating result135,5 k €726,7 k €-70,8 k €387,1 k €551,1 k €630 k €418,8 k €644,5 k €550,1 k €
Net result14,6 k €503,8 k €-87,9 k €236,3 k €434,8 k €467,3 k €391 k €475 k €270,2 k €
Balance sheet
Equity1,7 M €1,7 M €1,6 M €1,9 M €6,7 M €6,3 M €5,8 M €3,3 M €2,8 M €
Total assets11 M €7,6 M €7,2 M €7,5 M €15,5 M €11 M €10,7 M €7,8 M €7,7 M €
Cash0 €–373,1 €61,3 €13,5 k €47,2 k €5,5 k €3,3 k €582,2 €
Debts9,1 M €5,7 M €5,4 M €5,2 M €8,4 M €4,4 M €4,5 M €4,3 M €4,2 M €
Other
Workforce51,0 ETP52,9 ETP52,7 ETP55,1 ETP61,7 ETP63,4 ETP61,8 ETP62,7 ETP64,5 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 18 ended

Active mandates

MICKAEL MILLET

Director · since 28 mai 2025 · until 10 mai 2031

Active
CHRISTOPHE MINIER

Director · since 14 mai 2022 · until 13 mai 2028

Active
LAHBIB BOUARFA

Managing director · since 14 mai 2022 · until 13 mai 2028

Active

Ended mandates

MICKAEL MILLET

Director · since 11 mai 2019 · until 10 mai 2025

Ended
CHRISTOPHE MINIER

Director · since 01 janvier 2016 · until 10 mai 2022

Ended
CHRISTOPHE MINIER

Director · since 01 janvier 2016 · until 14 mai 2022

Ended
LAHBIB BOUARFA

Managing director · since 01 janvier 2016 · until 14 mai 2022

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date07/08/202619/06/202509/09/202416/05/202330/08/202210/06/2021
General meeting09/05/202628/05/202501/06/202413/05/202314/05/202208/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202509/05/202607/08/2026DutchPDF
Full model31/12/202428/05/202519/06/2025DutchPDF
Full model31/12/202301/06/202409/09/2024DutchPDF
Full model31/12/202213/05/202316/05/2023DutchPDF
Full model31/12/202114/05/202230/08/2022DutchPDF
Full model31/12/202008/05/202110/06/2021DutchPDF
Full model31/12/201909/05/202012/06/2020DutchPDF
Full model31/12/201811/05/201919/06/2019DutchPDF
Full model31/12/201712/05/201816/05/2018DutchPDF
Full model31/12/201623/06/201708/09/2017DutchPDF
Full model31/12/201524/06/201611/08/2016DutchPDF
Full model31/12/201409/05/201517/06/2015DutchPDF
Full model31/12/201327/06/201425/09/2014DutchPDF
Full model31/12/201228/06/201308/08/2013DutchPDF
Full model31/12/201112/05/201223/08/2012DutchPDF
Full model31/12/201014/05/201130/06/2011DutchPDF
Full model31/12/200908/05/201019/08/2010DutchPDF
Full model31/12/200830/06/200918/09/2009DutchPDF
Full model31/12/200730/06/200823/09/2008DutchPDF
Full model31/12/200612/05/200730/08/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 18 ended

Active mandates

MICKAEL MILLET

Director · since 28 mai 2025 · until 10 mai 2031

Active
CHRISTOPHE MINIER

Director · since 14 mai 2022 · until 13 mai 2028

Active
LAHBIB BOUARFA

Managing director · since 14 mai 2022 · until 13 mai 2028

Active

Ended mandates

MICKAEL MILLET

Director · since 11 mai 2019 · until 10 mai 2025

Ended
CHRISTOPHE MINIER

Director · since 01 janvier 2016 · until 10 mai 2022

Ended
CHRISTOPHE MINIER

Director · since 01 janvier 2016 · until 14 mai 2022

Ended
LAHBIB BOUARFA

Managing director · since 01 janvier 2016 · until 14 mai 2022

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates08/05/2026
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates01/08/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other26/02/2024
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …) - DOEL
    PDF
  • Mandates06/06/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates05/10/2022
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates04/10/2019
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates25/06/2018
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates07/10/2016
    ONTSLAGEN - BENOEMINGEN
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 202514,6 k €↓
  2. 2023
    Annual accounts 2023503,8 k €↑
  3. 2020
    Annual accounts 2020-87,9 k €↓
  4. 2015
    Annual accounts 2015236,3 k €↓
  5. 2011
    Annual accounts 2011434,8 k €↓
  6. 2010
    Annual accounts 2010467,3 k €↑
  7. 2009
    Annual accounts 2009391 k €↓
  8. 2007
    Annual accounts 2007475 k €↑
  9. 2006
    Annual accounts 2006270,2 k €
  10. 01/01/1968
    IncorporationPublic limited company