ACTIVE

Graindorge

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Financial year 2025 · closed on 31/12/2025

Net result

-70 k €

-351.3% YoY

Revenue

1,7 M €

-4.3% YoY

Equity

429,5 k €

-15.5% YoY

Workforce

11,3 ETP

-11.7% YoY

What does Graindorge do?

Graindorge is a Private limited company incorporated in 1992. Its main activity is: Plumbing, heat and air-conditioning installation. Its registered office is in Flémalle. It employs on average 11,3 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0446.785.166

Incorporation

04/03/1992

Legal form

Private limited company

Registered office

Quai du Halage(Flh) 12 box 1
4400 Flémalle · Wallonie

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

11,3 ETP

Activities (NACE)

43222Plumbing, heat and air-conditioning installation· main 43222Plumbing, heat and air-conditioning installation 45331Sale of motor vehicle parts and accessories 28250Manufacture of non-domestic cooling and ventilation equipment 28250Manufacture of non-domestic cooling and ventilation equipment 29230Manufacture of bodies (coachwork) for motor vehicles; manufacture of trailers and semi-trailers+2

Joint committees (1)

14901

Signals

Solid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

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
Revenue	1,7 M €	-4.3%	1,7 M €	-17.6%	2,1 M €	-3.3%	2,2 M €	-0.7%	2,2 M €	+33.4%	1,6 M €	-17.4%	2 M €		–		–		–		–		–		–		–		–		–		–		–		–		–
EBITDA	71,7 k €	-42.8%	125,4 k €	-32.2%	185 k €	-33.6%	278,6 k €	+8.3%	257,4 k €	+636%	35 k €	-27.6%	48,3 k €	-46.8%	90,8 k €	+109%	43,4 k €	+53.3%	28,3 k €	-51.5%	58,4 k €	+66.4%	35,1 k €	+1115%	-3,5 k €	-122%	15,9 k €	-56.9%	36,9 k €	-28.1%	51,3 k €	+4683%	-1,1 k €	-102%	53,6 k €	+140%	22,3 k €	-16.6%	26,8 k €
Operating result	-58,5 k €	-2456%	-2,3 k €	-103%	83,4 k €	-56.1%	190,2 k €	-16.3%	227,2 k €	+1130%	18,5 k €	-41.3%	31,5 k €	-61.1%	80,9 k €	+124%	36,1 k €	+78.7%	20,2 k €	-33.6%	30,4 k €	+394%	6,2 k €	+119%	-32,1 k €	-2036%	-1,5 k €	-108%	18,6 k €	-34.5%	28,4 k €	+196%	-29,5 k €	-235%	22 k €	+397%	-7,4 k €	+41.2%	-12,6 k €
Net result	-70 k €	-351%	-15,5 k €	-131%	50,7 k €	-64.6%	143,2 k €	-18.4%	175,4 k €	+2982%	5,7 k €	-73.2%	21,2 k €	-61.7%	55,3 k €	+171%	20,4 k €	+257%	5,7 k €	-63.1%	15,5 k €	+713%	1,9 k €	+105%	-38,4 k €	-228%	-11,7 k €	-299%	5,9 k €	-67.0%	17,8 k €	+142%	-42 k €	-578%	8,8 k €	+177%	-11,5 k €	+47.1%	-21,7 k €
Balance sheet
Equity	429,5 k €	-15.5%	508,3 k €	-3.4%	526,2 k €	+10.7%	475,6 k €	+43.1%	332,4 k €	+112%	156,9 k €	+3.8%	151,2 k €	+16.3%	130 k €	+59.1%	81,7 k €	+33.2%	61,3 k €	+10.3%	55,6 k €	+38.6%	40,1 k €	+5.0%	38,2 k €	-50.1%	76,7 k €	-13.3%	88,4 k €	+7.1%	82,5 k €	+27.6%	64,7 k €	-39.4%	106,7 k €	+9.0%	97,9 k €	-10.5%	109,3 k €
Total assets	1,1 M €	-12.1%	1,3 M €	+5.2%	1,2 M €	-4.8%	1,3 M €	+1.7%	1,3 M €	+134%	541,8 k €	+23.2%	439,6 k €	+38.2%	318,2 k €	+28.3%	248 k €	+4.6%	237 k €	-10.5%	264,7 k €	-11.2%	298 k €	+8.8%	273,9 k €	-16.4%	327,7 k €	-6.2%	349,3 k €	-2.6%	358,5 k €	-4.5%	375,6 k €	-15.2%	443 k €	+4.5%	423,7 k €	-7.4%	457,5 k €
Cash	56,1 k €	-56.8%	129,9 k €	+43.6%	90,5 k €	-28.8%	127,1 k €	-69.7%	419,5 k €	+39.8%	300,2 k €	+174%	109,5 k €	+11.9%	97,8 k €	+58.1%	61,9 k €	-34.1%	94 k €	+34.9%	69,7 k €	+1559%	4,2 k €	-34.4%	6,4 k €	-27.1%	8,8 k €	-19.2%	10,9 k €	+540%	1,7 k €	-84.3%	10,8 k €	+723079%	1,5 €	-100.0%	8,8 k €	-65.3%	25,3 k €
Debts	700,4 k €	-10.3%	781 k €	+12.3%	695,3 k €	-7.0%	748 k €	-20.0%	935,5 k €	+143%	384,9 k €	+33.4%	288,4 k €	+55.1%	185,9 k €	+11.9%	166,1 k €	-5.4%	175,7 k €	-15.3%	207,5 k €	-19.3%	257,1 k €	+9.4%	235,1 k €	-5.8%	249,5 k €	-4.4%	260,9 k €	-4.9%	274,5 k €	-10.7%	307,4 k €	-7.9%	333,9 k €	+2.5%	325,8 k €	-6.4%	348,1 k €
Other
Workforce	11,3 ETP	-11.7%	12,8 ETP	+6.7%	12,0 ETP	-7.0%	12,9 ETP	-1.5%	13,1 ETP	+27.2%	10,3 ETP	+28.8%	8,0 ETP		–		–		–		4,4 ETP	-8.3%	4,8 ETP	-20.0%	6,0 ETP	+7.1%	5,6 ETP	-1.8%	5,7 ETP	+7.5%	5,3 ETP	+6.0%	5,0 ETP	-19.4%	6,2 ETP	0.0%	6,2 ETP	-19.5%	7,7 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 · 1 active · 3 ended

Active mandates

Stéphane GRAINDORGE

Director · since 01 janvier 2005

Active

Ended mandates

Stéphane GRAINDORGE

Manager · since 01 janvier 2005

Ended

Philippe GRAINDORGE

Manager · since 26 novembre 1998 · until 13 juillet 2011

Ended

Philippe GRAINDORGE

Manager · since 26 novembre 1998

Ended

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	03/06/2025	18/06/2024	16/06/2023	07/06/2022	22/06/2021
General meeting	30/06/2026	30/05/2025	31/05/2024	26/05/2023	27/05/2022	28/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	17/07/2026	French	PDF
Abridged model	31/12/2024	30/05/2025	03/06/2025	French	PDF
Abridged model	31/12/2023	31/05/2024	18/06/2024	French	PDF
Abridged model	31/12/2022	26/05/2023	16/06/2023	French	PDF
Abridged model	31/12/2021	27/05/2022	07/06/2022	French	PDF
Abridged model	31/12/2020	28/05/2021	22/06/2021	French	PDF
Abridged model	31/12/2019	29/05/2020	16/07/2020	French	PDF
Micro model	31/12/2018	24/05/2019	18/07/2019	French	PDF
Micro model	31/12/2017	25/05/2018	08/07/2018	French	PDF
Micro model	31/12/2016	26/05/2017	17/08/2017	French	PDF
Abridged model	31/12/2015	27/05/2016	29/08/2016	French	PDF
Abridged model	31/12/2014	29/05/2015	08/08/2015	French	PDF
Abridged model	31/12/2013	30/05/2014	20/08/2014	French	PDF
Abridged model	31/12/2012	31/05/2013	09/08/2013	French	PDF
Abridged model	31/12/2011	25/05/2012	27/08/2012	French	PDF
Abridged model	31/12/2010	27/05/2011	20/06/2011	French	PDF
Abridged model	31/12/2009	28/05/2010	27/08/2010	French	PDF
Abridged model	31/12/2008	29/05/2009	27/08/2009	French	PDF
Abridged model	31/12/2007	30/05/2008	21/08/2008	French	PDF
Abridged model	31/12/2006	25/05/2007	28/08/2007	French	PDF

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 · 1 active · 3 ended

Active mandates

Stéphane GRAINDORGE

Director · since 01 janvier 2005

Active

Ended mandates

Stéphane GRAINDORGE

Manager · since 01 janvier 2005

Ended

Philippe GRAINDORGE

Manager · since 26 novembre 1998 · until 13 juillet 2011

Ended

Philippe GRAINDORGE

Manager · since 26 novembre 1998

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates25/01/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Mandates13/06/2012
DEMISSIONS, NOMINATIONS
PDF
Registered office13/05/2008
SIEGE SOCIAL
PDF
Mandates22/11/2004
DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Capital / shares29/03/2004
ASSEMBLEE GENERALE - CAPITAL, ACTIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 2025-70 k €↓
2024
Annual accounts 2024-15,5 k €↓
2023
Annual accounts 202350,7 k €↓
2022
Annual accounts 2022143,2 k €↓
2021
Annual accounts 2021175,4 k €↑
2020
Annual accounts 20205,7 k €↓
2019
Annual accounts 201921,2 k €↓
2018
Annual accounts 201855,3 k €↑
2017
Annual accounts 201720,4 k €↑
2016
Annual accounts 20165,7 k €↓
2015
Annual accounts 201515,5 k €↑
2014
Annual accounts 20141,9 k €↑
2013
Annual accounts 2013-38,4 k €↓
2012
Annual accounts 2012-11,7 k €↓
2011
Annual accounts 20115,9 k €↓
2010
Annual accounts 201017,8 k €↑
2009
Annual accounts 2009-42 k €↓
2008
Annual accounts 20088,8 k €↑
2007
Annual accounts 2007-11,5 k €↑
2006
Annual accounts 2006-21,7 k €
04/03/1992
IncorporationPrivate 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

Graindorge

Overview

What does Graindorge do?

Trend over 20 financial years

Indicative valuation

Board of directors

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