ACTIVE

GRL Logistics

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Financial year 2025 · closed on 31/12/2025

Net result

31,3 k €

-89.3% YoY

Revenue

6,7 M €

-2.4% YoY

Equity

4,6 M €

+0.7% YoY

Workforce

27,4 ETP

+5.0% YoY

What does GRL Logistics do?

GRL Logistics is a Public limited company incorporated in 1981. Its main activity is: Collection of non-hazardous waste. Its registered office is in Beringen. It employs on average 27,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0421.925.353

Incorporation

21/09/1981

Legal form

Public limited company

Registered office

Industrieweg 190
3583 Beringen · FlandreSee on map

Contributed capital

156 199,54 €

Latest accounts

31/12/2025

Average workforce

27,4 ETP

Activities (NACE)

38110Collection of non-hazardous waste· main 38110Collection of non-hazardous waste 46772Wholesale of waste and scrap 46872Wholesale trade, except of motor vehicles and motorcycles 51570Air transport

Joint committees (2)

14003
226

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Revenue	6,7 M €	-2.4%	6,9 M €	+2.7%	6,7 M €	+3.6%	6,5 M €	+4.0%	6,2 M €	+140%	2,6 M €	+14.2%	2,3 M €		–		–		–		–		–		–		–		–		–		–		–
EBITDA	1,2 M €	-26.0%	1,6 M €	+31.2%	1,2 M €	-1.9%	1,2 M €	+1.6%	1,2 M €	+171%	446,3 k €	+56.8%	284,5 k €	-30.5%	409,4 k €	-23.1%	532,4 k €	+25.0%	425,7 k €	+78.7%	238,2 k €	-14.0%	277,1 k €	-45.8%	511,5 k €	+30.6%	391,7 k €	+2.9%	380,7 k €	+24.7%	305,3 k €	+126%	135 k €	-73.9%	517,7 k €
Operating result	53,5 k €	-86.6%	398,6 k €	+69.3%	235,4 k €	-23.7%	308,4 k €	-23.0%	400,5 k €	+106%	194 k €	+163%	73,8 k €	-55.5%	165,8 k €	+0.2%	165,6 k €	+11273%	1,5 k €	+101%	-237,9 k €	-14.6%	-207,6 k €	-361%	79,5 k €	-30.6%	114,5 k €	+43.7%	79,7 k €	+0.8%	79 k €	+194%	-84,4 k €	-140%	210,7 k €
Net result	31,3 k €	-89.3%	293,3 k €	+47.0%	199,6 k €	-13.2%	229,9 k €	-24.8%	305,5 k €	+71.9%	177,7 k €	+198%	59,7 k €	-55.0%	132,6 k €	+3.7%	128 k €	+469%	-34,6 k €	+87.9%	-287,4 k €	-7.0%	-268,6 k €	-1789%	15,9 k €	-80.2%	80,4 k €	+157%	31,3 k €	-47.2%	59,2 k €	+148%	-122,8 k €	-196%	127,5 k €
Balance sheet
Equity	4,6 M €	+0.7%	4,6 M €	+6.8%	4,3 M €	+4.9%	4,1 M €	+6.0%	3,9 M €	+619%	536,9 k €	+49.5%	359,1 k €	+19.9%	299,4 k €	+79.5%	166,8 k €	+330%	38,8 k €	-47.2%	73,5 k €	-79.6%	360,9 k €	-42.7%	629,4 k €	+2.6%	613,5 k €	+15.1%	533,1 k €	+6.2%	501,8 k €	+6.9%	469,6 k €	-20.7%	592,4 k €
Total assets	5,8 M €	+3.8%	5,6 M €	-7.9%	6,1 M €	-6.7%	6,5 M €	+1.9%	6,4 M €	+119%	2,9 M €	+34.7%	2,2 M €	+46.1%	1,5 M €	+10.7%	1,3 M €	-9.2%	1,5 M €	-10.6%	1,7 M €	-25.6%	2,2 M €	+0.7%	2,2 M €	+24.9%	1,8 M €	+14.9%	1,5 M €	+25.7%	1,2 M €	-9.9%	1,4 M €	-15.1%	1,6 M €
Cash	381,5 k €	+174%	139 k €	+33.7%	104 k €	-76.5%	441,6 k €	+195%	149,7 k €	-61.9%	392,5 k €	-12.2%	447 k €	+660%	58,8 k €	-75.6%	241,1 k €	+74.7%	138 k €	-16.2%	164,7 k €	-35.0%	253,3 k €	-20.2%	317,5 k €	+11.3%	285,3 k €	+14.0%	250,2 k €	+94.9%	128,4 k €	-37.7%	206,2 k €	-24.7%	273,7 k €
Debts	993,7 k €	+18.4%	839,3 k €	-49.2%	1,7 M €	-28.8%	2,3 M €	-3.8%	2,4 M €	+1.1%	2,4 M €	+34.1%	1,8 M €	+62.1%	1,1 M €	+4.3%	1,1 M €	-18.7%	1,3 M €	-17.7%	1,6 M €	-15.6%	1,9 M €	+18.1%	1,6 M €	+37.5%	1,1 M €	+13.9%	1 M €	+40.2%	718,2 k €	-19.0%	887,2 k €	-12.1%	1 M €
Other
Workforce	27,4 ETP	+5.0%	26,1 ETP	-4.7%	27,4 ETP	-7.4%	29,6 ETP	-7.8%	32,1 ETP	+131%	13,9 ETP	+10.3%	12,6 ETP	-3.8%	13,1 ETP	-7.7%	14,2 ETP	+5.2%	13,5 ETP	-3.6%	14,0 ETP	0.0%	14,0 ETP	+9.4%	12,8 ETP	-0.8%	12,9 ETP	+10.3%	11,7 ETP	-0.8%	11,8 ETP	0.0%	11,8 ETP	-7.8%	12,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 21 ended

Active mandates

Christophe 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

Maximilian Kremers

Director · since 11 décembre 2017 · until 31 décembre 2021

Ended

Maximilian Kremers

Director · since 11 décembre 2017 · until 30 juin 2023

Ended

Christophe 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

At this address

Other companies at this address

Company	CBE no.
GRL Glass Recycling● Active	0420.133.625
GRL HOLDING● Active	0457.194.355

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	22/07/2026	30/06/2025	23/07/2024	04/07/2023	11/07/2022	22/07/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	22/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	30/06/2025	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	23/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	04/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	11/07/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	22/07/2021	Dutch	PDF
Abridged model	31/12/2019	30/06/2020	14/07/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	26/07/2019	Dutch	PDF
Abridged model	31/12/2017	29/06/2018	06/07/2018	Dutch	PDF
Abridged model	31/12/2016	27/05/2017	17/07/2017	Dutch	PDF
Abridged model	31/12/2015	28/05/2016	27/06/2016	Dutch	PDF
Abridged model	31/12/2014	30/05/2015	17/08/2015	Dutch	PDF
Abridged model	31/12/2013	31/05/2014	17/07/2014	Dutch	PDF
Abridged model	31/12/2012	20/06/2013	24/06/2013	Dutch	PDF
Abridged model	31/12/2011	26/05/2012	04/06/2012	Dutch	PDF
Abridged model	31/12/2010	28/05/2011	07/06/2011	Dutch	PDF
Abridged modelCorrection	31/12/2009	29/05/2010	21/06/2010	Dutch	PDF
Abridged model	31/12/2009	29/05/2010	15/06/2010	Dutch	PDF
Abridged model	31/12/2008	30/05/2009	12/06/2009	Dutch	PDF
Abridged model	31/12/2007	31/05/2008	26/06/2008	Dutch	PDF
Abridged model	31/12/2006	26/05/2007	27/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 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.

Governance

Board of directors

Seen on filing of 31/12/2025 · 3 active · 21 ended

Active mandates

Christophe 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

Maximilian Kremers

Director · since 11 décembre 2017 · until 31 décembre 2021

Ended

Maximilian Kremers

Director · since 11 décembre 2017 · until 30 juin 2023

Ended

Christophe 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

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

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
Mandates10/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/10/2021
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring19/06/2020
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
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

2025
Annual accounts 202531,3 k €↓
2024
Annual accounts 2024293,3 k €↑
2023
Annual accounts 2023199,6 k €↓
2022
Annual accounts 2022229,9 k €↓
2021
Annual accounts 2021305,5 k €↑
2019
Annual accounts 2019177,7 k €↑
2019
Name changeGRL Logistics
2018
Annual accounts 201859,7 k €↓
2017
Annual accounts 2017132,6 k €↑
2016
Annual accounts 2016128 k €↑
2015
Annual accounts 2015-34,6 k €↑
2014
Annual accounts 2014-287,4 k €↓
2013
Annual accounts 2013-268,6 k €↓
2012
Annual accounts 201215,9 k €↓
2011
Annual accounts 201180,4 k €↑
2010
Annual accounts 201031,3 k €↓
2009
Annual accounts 200959,2 k €↑
2008
Annual accounts 2008-122,8 k €↓
2007
Annual accounts 2007127,5 k €
2007
Name changeKEMPISCH RECYCLAGEBEDRIJF
21/09/1981
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

GRL Logistics

Overview

What does GRL Logistics do?

Trend over 18 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline