ACTIVE

GRL Glass Recycling

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Financial year 2025 · Closed on 31/12/2025

Net result1,9 M €-44,3 %over 1 year
Revenue22,1 M €+3,0 %over 1 year
Equity17,2 M €-14,9 %over 1 year
Workforce26,3 ETP+5,2 %over 1 year

Identity

Source · BCE/KBO

GRL Glass Recycling is a Public limited company incorporated in 1980. Its main activity is: Sewerage. Its registered office is in Beringen. It employs on average 26,3 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0420.133.625
Incorporation
18/02/1980
Legal form
Public limited company
Registered office
Industrieweg 190
3583 Beringen · FlandreSee on map
Contributed capital
106 271,95 €
Latest accounts
31/12/2025
Average workforce
26,3 ETP
Joint committees (3)
  • 14201
  • 14204
  • 200
Signals
ProfitableSolid equityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 22 filings

Trend over 18 financial years

20252024202320222021
Income statement
Revenue22,1 M €21,4 M €21,4 M €19,2 M €16,8 M €
EBITDA3,7 M €4,7 M €3,9 M €3 M €2,6 M €
Operating result2,9 M €4,5 M €1,8 M €1,7 M €1,6 M €
Net result1,9 M €3,3 M €1,4 M €1,2 M €1,2 M €
Balance sheet
Equity17,2 M €20,2 M €16,8 M €15,4 M €14,2 M €
Total assets42,4 M €35,4 M €24,4 M €19,3 M €17,5 M €
Cash195,7 k €82,6 k €141,1 k €932,3 k €59,8 k €
Debts24,6 M €14,5 M €6,9 M €3,8 M €3,3 M €
Other
Workforce26,3 ETP25,0 ETP26,5 ETP25,6 ETP26,7 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 18 ended

Active mandates

Christoph Bildstein

Director · since 07 décembre 2017 · until 30 juin 2029

Active
MERVIN

Director · since 07 décembre 2017 · until 30 juin 2029 · 0845.201.184

Represented by Martine Meuws

Active
Stephan Müller

Director · since 07 décembre 2017 · until 30 juin 2029

Active

Ended mandates

Christoph Bildstein

Director · since 07 décembre 2017 · until 30 juin 2023

Ended
MERVIN

Director · since 07 décembre 2017 · until 30 juin 2023 · 0845.201.184

Represented by Martine Meuws

Ended
Stephan Müller

Director · since 07 décembre 2017 · until 30 juin 2023

Ended
GRL HOLDING

Director · since 21 juin 2013 · until 07 décembre 2017 · 0457.194.355

Represented by Michel Van Swartenbrouck

Ended

Other companies at this address

Industrieweg 190 3583 Beringen
CompanyCBE no.
GRL HOLDING● Active
0457.194.355
GRL Logistics● Active
0421.925.353

Full financial information

Source · NBB
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 date22/07/202630/06/202523/07/202404/07/202311/07/202222/07/2021
General meeting30/06/202630/06/202530/06/202430/06/202330/06/202230/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 22 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/12/202530/06/202622/07/2026DutchPDF
Full model31/12/202430/06/202530/06/2025DutchPDF
Full model31/12/202330/06/202423/07/2024DutchPDF
Full model31/12/202230/06/202304/07/2023DutchPDF
Full model31/12/202130/06/202211/07/2022DutchPDF
Full model31/12/202030/06/202122/07/2021DutchPDF
Full modelCorrection31/12/201930/06/202030/10/2020DutchPDF
Full model31/12/201930/06/202014/07/2020DutchPDF
Full modelCorrection31/12/201828/06/201924/10/2019DutchPDF
Full model31/12/201828/06/201926/07/2019DutchPDF
Full model31/12/201729/06/201806/07/2018DutchPDF
Full model31/12/201616/06/201717/07/2017DutchPDF
Full model31/12/201517/06/201618/07/2016DutchPDF
Full model31/12/201419/06/201527/07/2015DutchPDF
Full model31/12/201320/06/201418/07/2014DutchPDF
Full model31/12/201221/06/201327/08/2013DutchPDF
Full model31/12/201115/06/201206/09/2012DutchPDF
Full model31/12/201017/06/201119/07/2011DutchPDF
Full model31/12/200918/06/201013/07/2010DutchPDF
Full model31/12/200819/06/200923/07/2009DutchPDF
Full model31/12/200726/06/200824/07/2008DutchPDF
Full model31/12/200615/06/200716/08/2007DutchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 M€

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.

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 18 ended

Active mandates

Christoph Bildstein

Director · since 07 décembre 2017 · until 30 juin 2029

Active
MERVIN

Director · since 07 décembre 2017 · until 30 juin 2029 · 0845.201.184

Represented by Martine Meuws

Active
Stephan Müller

Director · since 07 décembre 2017 · until 30 juin 2029

Active

Ended mandates

Christoph Bildstein

Director · since 07 décembre 2017 · until 30 juin 2023

Ended
MERVIN

Director · since 07 décembre 2017 · until 30 juin 2023 · 0845.201.184

Represented by Martine Meuws

Ended
Stephan Müller

Director · since 07 décembre 2017 · until 30 juin 2023

Ended
GRL HOLDING

Director · since 21 juin 2013 · until 07 décembre 2017 · 0457.194.355

Represented by Michel Van Swartenbrouck

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Registered office11/09/2025
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Mandates19/03/2025
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates30/10/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates30/10/2024
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates06/10/2023
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates29/10/2021
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Other02/06/2020
    BENAMING
    PDF
  • Mandates11/01/2019
    ONTSLAGEN - BENOEMINGEN
    PDF

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 20251,9 M €↓
  2. 2024
    Annual accounts 20243,3 M €↑
  3. 2023
    Annual accounts 20231,4 M €↑
  4. 2022
    Annual accounts 20221,2 M €↑
  5. 2021
    Annual accounts 20211,2 M €↑
  6. 2020
    Annual accounts 20201,1 M €↑
  7. 2019
    Annual accounts 2019933,1 k €↑
  8. 2019
    Name changeGRL Glass Recycling
  9. 2018
    Annual accounts 2018867,9 k €↑
  10. 2017
    Annual accounts 2017711,5 k €↓
  11. 2016
    Annual accounts 20161,1 M €↑
  12. 2015
    Annual accounts 2015694,2 k €↓
  13. 2014
    Annual accounts 2014737,1 k €↓
  14. 2013
    Annual accounts 2013842,9 k €↓
  15. 2012
    Annual accounts 20121,3 M €↑
  16. 2011
    Annual accounts 2011813,5 k €↓
  17. 2010
    Annual accounts 20101,4 M €↓
  18. 2009
    Annual accounts 20091,5 M €↓
  19. 2008
    Annual accounts 20081,9 M €
  20. 2008
    Name changeG R L - GLASRECYCLING
  21. 18/02/1980
    IncorporationPublic limited company