GRAYLING
0427.806.721 · rovalta.com · 21/09/2026
ACTIVE
GRAYLING
Financial year 2025 · closed on 31/12/2025
Net result
-39,2 k €
-241.4% YoY
Gross margin
317,6 k €
-61.4% YoY
Equity
3,6 M €
-1.1% YoY
Workforce
8,9 ETP
-9.2% YoY
Overview
What does GRAYLING do?
GRAYLING is a Public limited company incorporated in 1985. Its main activity is: Public relations and communication activities. Its registered office is in Etterbeek. It employs on average 8,9 ETP workers (FTE).
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0427.806.721
Incorporation
04/10/1985
Legal form
Public limited company
Registered office
Rue Belliard 12
1040 Etterbeek · BruxellesSee on map
1040 Etterbeek · BruxellesSee on map
Contributed capital
123 973,38 €
Latest accounts
31/12/2025
Average workforce
8,9 ETP
Activities (NACE)
Joint committees (2)
- 200
- 218
Signals
Solid equityPositive cashflowHealthy social debts
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Financials
Trend over 20 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||||||
| Gross margin | 317,6 k € | -61.4% | 823,6 k € | -42.3% | 1,4 M € | -1.9% | 1,5 M € | -20.5% | 1,8 M € | +22.6% | 1,5 M € | -31.9% | 2,2 M € | +9.3% | 2,0 M € | +13.1% | 1,8 M € | – | – | – | – | – | – | – | – | – | – | – | |||||||||||
| EBITDA | -284,9 k € | -18.8% | -239,8 k € | +67.0% | -727,6 k € | -168% | -272,0 k € | -185% | 320,8 k € | +328% | -141,0 k € | -148% | 294,2 k € | +3.8% | 283,4 k € | +107% | 137,1 k € | -51.3% | 281,4 k € | -33.1% | 420,8 k € | -9.2% | 463,5 k € | +296% | -236,0 k € | -132% | 726,2 k € | +69.3% | 429,0 k € | +92.6% | 222,7 k € | +6.7% | 208,7 k € | -55.3% | 467,4 k € | +108% | 225,1 k € | +47.7% | 152,5 k € |
| Operating result | -330,6 k € | -19.0% | -277,9 k € | +62.2% | -734,3 k € | -104% | -359,9 k € | -230% | 276,0 k € | +234% | -205,2 k € | -194% | 219,0 k € | +5.2% | 208,3 k € | +245% | 60,4 k € | -70.4% | 203,7 k € | -39.3% | 335,8 k € | -15.3% | 396,7 k € | +230% | -305,6 k € | -147% | 650,4 k € | +78.4% | 364,5 k € | +218% | 114,6 k € | -25.0% | 152,8 k € | -65.2% | 439,1 k € | +127% | 193,1 k € | +50.5% | 128,3 k € |
| Net result | -39,2 k € | -241% | -11,5 k € | +97.9% | -541,2 k € | -40.9% | -384,0 k € | -265% | 232,2 k € | +198% | -236,9 k € | -321% | 107,2 k € | -28.4% | 149,7 k € | +268% | 40,6 k € | -62.5% | 108,5 k € | -54.5% | 238,7 k € | -38.7% | 389,6 k € | +171% | -550,2 k € | -221% | 453,7 k € | +44.5% | 314,0 k € | +197% | 105,7 k € | +17.9% | 89,6 k € | -69.8% | 296,6 k € | +63.5% | 181,4 k € | +37.2% | 132,2 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | 3,6 M € | -1.1% | 3,6 M € | -0.3% | 3,6 M € | -13.1% | 4,1 M € | -8.5% | 4,5 M € | +5.4% | 4,3 M € | -5.2% | 4,5 M € | +2.4% | 4,4 M € | +3.5% | 4,3 M € | +1.0% | 4,2 M € | +2.6% | 4,1 M € | +6.1% | 3,9 M € | +11.1% | 3,5 M € | -13.6% | 4,0 M € | +12.6% | 3,6 M € | +9.6% | 3,3 M € | +323% | 776,0 k € | +13.1% | 686,4 k € | +76.1% | 389,8 k € | +87.1% | 208,4 k € |
| Total assets | 5,3 M € | +4.5% | 5,1 M € | +5.6% | 4,8 M € | -13.4% | 5,5 M € | +4.4% | 5,3 M € | +5.0% | 5,0 M € | -8.7% | 5,5 M € | +8.0% | 5,1 M € | -3.8% | 5,3 M € | +4.2% | 5,1 M € | -6.2% | 5,4 M € | +15.7% | 4,7 M € | -8.5% | 5,1 M € | +10.5% | 4,6 M € | -5.6% | 4,9 M € | +10.7% | 4,4 M € | +404% | 881,8 k € | -14.9% | 1,0 M € | +67.6% | 618,1 k € | +86.4% | 331,6 k € |
| Cash | 241,3 k € | +63.8% | 147,3 k € | -49.4% | 290,9 k € | +66.3% | 174,8 k € | +388% | 35,8 k € | -90.9% | 395,0 k € | -41.9% | 680,3 k € | +110% | 324,6 k € | -36.6% | 511,9 k € | -8.4% | 558,8 k € | +86.7% | 299,2 k € | -34.9% | 459,9 k € | +2.0% | 451,0 k € | +112% | 212,5 k € | -38.3% | 344,6 k € | +4.1% | 330,9 k € | +143% | 135,9 k € | +260% | 37,8 k € | -61.7% | 98,6 k € | -39.9% | 164,1 k € |
| Debts | 1,5 M € | +14.5% | 1,3 M € | +37.7% | 945,6 k € | -17.8% | 1,1 M € | +111% | 544,4 k € | +4.0% | 523,7 k € | -36.3% | 822,3 k € | +56.9% | 524,1 k € | -42.4% | 910,0 k € | +14.5% | 794,6 k € | -32.2% | 1,2 M € | +153% | 462,2 k € | -59.6% | 1,1 M € | +108% | 550,3 k € | -43.8% | 978,6 k € | +18.3% | 827,4 k € | +746% | 97,8 k € | -49.6% | 194,1 k € | +86.2% | 104,2 k € | +20.8% | 86,3 k € |
| Other | |||||||||||||||||||||||||||||||||||||||
| Workforce | 8,9 ETP | -9.2% | 9,8 ETP | -41.3% | 16,7 ETP | -11.6% | 18,9 ETP | +2.7% | 18,4 ETP | -21.4% | 23,4 ETP | -8.2% | 25,5 ETP | +13.8% | 22,4 ETP | +8.7% | 20,6 ETP | -19.8% | 25,7 ETP | -8.5% | 28,1 ETP | +21.1% | 23,2 ETP | -9.7% | 25,7 ETP | +4.9% | 24,5 ETP | +9.9% | 22,3 ETP | +28.2% | 17,4 ETP | +64.2% | 10,6 ETP | +8.2% | 9,8 ETP | +32.4% | 7,4 ETP | +27.6% | 5,8 ETP |
Estimate
Indicative valuation
As an indication, this company is worth
between 2,5 M€ and 5 M€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 30 ended
Active mandates
Andrew Martin MORROW
ActiveEnded mandates
Andrew Martin MORROW
EndedGarth JONES
EndedNeil Garth JONES
EndedNeil Garth JONES
EndedAt this address
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|---|---|
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EUROPEAN DIGITAL RIGHTS● Active | 0866.466.752 |
EUROPEAN ENAMEL ASSOCIATION● Active | 0755.640.292 |
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THE WORLD SPIRIT ALLIANCE● Active | 0730.577.571 |
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Financials
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 | 17/07/2026 | 11/07/2025 | 19/06/2024 | 07/10/2023 | 25/01/2023 | 23/12/2021 |
| General meeting | 19/05/2026 | 02/06/2025 | 22/05/2024 | 28/09/2023 | 28/10/2022 | 12/11/2021 |
| 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
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
22 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Abridged model | 31/12/2025 | 19/05/2026 | 17/07/2026 | French | |
| Abridged model | 31/12/2024 | 02/06/2025 | 11/07/2025 | French | |
| Abridged model | 31/12/2023 | 22/05/2024 | 19/06/2024 | French | |
| Abridged model | 31/12/2022 | 28/09/2023 | 07/10/2023 | French | |
| Abridged model | 31/12/2021 | 28/10/2022 | 25/01/2023 | French | |
| Abridged model | 31/12/2020 | 12/11/2021 | 23/12/2021 | French | |
| Abridged model | 31/12/2019 | 13/11/2020 | 16/11/2020 | French | |
| Abridged model | 31/12/2018 | 22/05/2019 | 17/06/2019 | French | |
| Abridged model | 31/12/2017 | 07/06/2018 | 25/06/2018 | French | |
| Full model | 31/12/2016 | 13/06/2017 | 05/07/2017 | French | |
| Full model | 31/12/2015 | 02/05/2016 | 22/08/2016 | French | |
| Full model | 31/12/2014 | 22/06/2015 | 11/08/2015 | French | |
| Full model | 31/12/2013 | 30/06/2014 | 05/09/2014 | French | |
| Full model | 31/12/2012 | 28/06/2013 | 31/08/2013 | French | |
| Full model | 31/12/2011 | 07/05/2012 | 13/07/2012 | French | |
| Full model | 31/12/2010 | 31/08/2011 | 17/09/2011 | French | |
| Full modelCorrection | 31/12/2009 | 03/05/2010 | 24/12/2010 | French | |
| Full model | 31/12/2009 | 03/05/2010 | 23/07/2010 | French | |
| Full modelCorrection | 31/12/2008 | 04/05/2009 | 06/11/2009 | French | |
| Full model | 31/12/2008 | 04/05/2009 | 17/07/2009 | French | |
| Full model | 31/12/2007 | 02/05/2008 | 15/07/2008 | French | |
| Full model | 31/12/2006 | 07/05/2007 | 14/06/2007 | French |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 2,5 M€ and 5 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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 2 active · 30 ended
Active mandates
Andrew Martin MORROW
ActiveEnded mandates
Andrew Martin MORROW
EndedGarth JONES
EndedNeil Garth JONES
EndedNeil Garth JONES
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Registered office29/07/2025SIEGE SOCIAL
- Other30/01/2024STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
- Mandates12/09/2023DEMISSIONS, NOMINATIONS
- Mandates12/07/2022DEMISSIONS, NOMINATIONS
- Mandates11/02/2022DEMISSIONS, NOMINATIONS
- Mandates16/09/2020DEMISSIONS, NOMINATIONS
- Mandates02/09/2019DEMISSIONS, NOMINATIONS
- Mandates13/06/2018DEMISSIONS, NOMINATIONS
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 2025-39,2 k €↓
- 2024Annual accounts 2024-11,5 k €↑
- 2023Annual accounts 2023-541,2 k €↓
- 2022Annual accounts 2022-384,0 k €↓
- 2021Annual accounts 2021232,2 k €↑
- 2020Annual accounts 2020-236,9 k €↓
- 2019Annual accounts 2019107,2 k €↓
- 2018Annual accounts 2018149,7 k €↑
- 2017Annual accounts 201740,6 k €↓
- 2016Annual accounts 2016108,5 k €↓
- 2015Annual accounts 2015238,7 k €↓
- 2014Annual accounts 2014389,6 k €↑
- 2013Annual accounts 2013-550,2 k €↓
- 2012Annual accounts 2012453,7 k €↑
- 2011Annual accounts 2011314,0 k €↑
- 2010Annual accounts 2010105,7 k €↑
- 2009Annual accounts 200989,6 k €↓
- 2008Annual accounts 2008296,6 k €↑
- 2007Annual accounts 2007181,4 k €↑
- 2006Annual accounts 2006132,2 k €
- 04/10/1985IncorporationPublic limited company