ACTIVE

GRATHIE

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Financial year 2025 · closed on 31/12/2025

Net result

-2,2 k €

+74.1% YoY

Gross margin

-2,5 k €

+73.3% YoY

Equity

-11,1 k €

-25.3% YoY

What does GRATHIE do?

GRATHIE is a Private limited company incorporated in 1992. Its main activity is: Management consultancy activities. Its registered office is in Etterbeek.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0447.545.627

Incorporation

01/06/1992

Legal form

Private limited company

Registered office

Rue Belliard 40
1040 Etterbeek · BruxellesSee on map

Contributed capital

30 986,69 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities

Signals

Good liquidity

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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
Gross margin	-2,5 k €	+73.3%	-9,5 k €	-294%	-2,4 k €	-106%	-1,2 k €	+5.4%	-1,2 k €	-7.7%	-1,1 k €	-74.1%	-659,5 €	+66.7%	-2 k €	-30.8%	-1,5 k €	+18.2%	-1,8 k €	-108%	21,8 k €	-27.0%	29,8 k €	+2.6%	29 k €	-7.0%	31,2 k €	+3.0%	30,3 k €	+924%	-3,7 k €	-219%	-1,2 k €	-111%	10,2 k €	-7.7%	11 k €	+424%	-3,4 k €
EBITDA	-2,9 k €	+69.5%	-9,6 k €	-243%	-2,8 k €	-84.7%	-1,5 k €	+54.3%	-3,3 k €	-189%	-1,1 k €	-74.1%	-659,5 €	+66.7%	-2 k €	-30.8%	-1,5 k €	+18.2%	-1,8 k €	-110%	19,1 k €	-29.6%	27,1 k €	-6.6%	29 k €	+4.4%	27,8 k €	-0.4%	27,9 k €	+462%	-7,7 k €	-568%	-1,2 k €	-114%	8,2 k €	-9.6%	9,1 k €	+246%	-6,2 k €
Operating result	-2,9 k €	+69.5%	-9,6 k €	-243%	-2,8 k €	-84.7%	-1,5 k €	+54.3%	-3,3 k €	-189%	-1,1 k €	-74.1%	-659,5 €	+66.7%	-2 k €	-30.8%	-1,5 k €	+18.2%	-1,8 k €	-110%	19,1 k €	+153%	7,5 k €	-20.3%	9,4 k €	+258%	-6 k €	-476%	1,6 k €	+105%	-34 k €	-63.1%	-20,9 k €	-425%	-4 k €	-28.2%	-3,1 k €	+83.3%	-18,6 k €
Net result	-2,2 k €	+74.1%	-8,6 k €	-209%	-2,8 k €	-84.7%	-1,5 k €	+54.3%	-3,3 k €	-189%	-1,1 k €	-74.1%	-659,5 €	+66.7%	-2 k €	-30.8%	-1,5 k €	+18.2%	-1,8 k €	-101%	188,5 k €	+2405%	7,5 k €	+124%	-31,4 k €	+32.3%	-46,3 k €	-5.1%	-44,1 k €	+25.2%	-58,9 k €	-163%	-22,4 k €	-273%	-6 k €	-38.9%	-4,3 k €	-103%	150,7 k €
Balance sheet
Equity	-11,1 k €	-25.3%	-8,8 k €	-4971%	-174 €	-107%	2,6 k €	-36.6%	4,1 k €	-44.5%	7,5 k €	-13.3%	8,6 k €	-7.1%	9,3 k €	-17.6%	11,3 k €	-11.8%	12,8 k €	-12.6%	14,6 k €	+219%	-12,2 k €	+38.1%	-19,8 k €	-271%	11,6 k €	-80.0%	57,9 k €	-47.1%	109,5 k €	-38.0%	176,7 k €	-11.2%	199,1 k €	-6.4%	212,7 k €	-5.3%	224,6 k €
Total assets	36,1 k €	-3.4%	37,3 k €	-6.4%	39,9 k €	-3.3%	41,3 k €	0.0%	41,3 k €	0.0%	41,3 k €	0.0%	41,3 k €	0.0%	41,3 k €	0.0%	41,3 k €	0.0%	41,3 k €	0.0%	41,3 k €	-90.6%	439,3 k €	-4.3%	458,9 k €	-74.4%	1,8 M €	-10.6%	2 M €	+8.3%	1,9 M €	+279%	489 k €	-3.9%	508,7 k €	-3.7%	528,4 k €	-4.1%	551,3 k €
Cash	7,3 €	-94.2%	126,2 €		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		3,1 k €
Debts	47,1 k €	+2.1%	46,2 k €	+15.2%	40,1 k €	+3.7%	38,6 k €	+4.1%	37,1 k €	+9.8%	33,8 k €	+5.5%	32,1 k €	+0.2%	32 k €	+6.6%	30 k €	+5.3%	28,5 k €	+6.9%	26,7 k €	-94.1%	451,6 k €	-5.7%	478,7 k €	-73.2%	1,8 M €	-8.5%	1,9 M €	+11.7%	1,7 M €	+459%	312,2 k €	+0.9%	309,6 k €	-2.0%	315,8 k €	-3.3%	326,7 k €

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 11 ended

Active mandates

Ivo Grauwels

Director

Active

Nadine Thienpont

Director

Active

Ended mandates

Ivo Grauwels

Managing director · since 04 juin 2018 · until 03 juin 2024

Ended

Nadine Thienpont

Mandate · since 04 juin 2018 · until 03 juin 2024

Ended

Ivo Grauwels

Managing director · since 28 juin 2012 · until 31 décembre 2017

Ended

Ivo Grauwels

Managing director · since 28 juin 2012 · until 28 juin 2018

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro 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	25/08/2026	21/05/2026	23/08/2024	30/08/2023	30/09/2022	13/09/2021
General meeting	01/06/2026	13/05/2026	03/06/2024	05/06/2023	06/06/2022	07/06/2021
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
Micro model	31/12/2025	01/06/2026	25/08/2026	Dutch	PDF
Micro model	31/12/2024	13/05/2026	21/05/2026	Dutch	PDF
Micro model	31/12/2023	03/06/2024	23/08/2024	Dutch	PDF
Micro model	31/12/2022	05/06/2023	30/08/2023	Dutch	PDF
Micro model	31/12/2021	06/06/2022	30/09/2022	Dutch	PDF
Micro model	31/12/2020	07/06/2021	13/09/2021	Dutch	PDF
Micro model	31/12/2019	10/08/2020	06/11/2020	Dutch	PDF
Micro model	31/12/2018	03/06/2019	03/07/2019	Dutch	PDF
Micro model	31/12/2017	04/06/2018	03/07/2018	Dutch	PDF
Micro model	31/12/2016	06/06/2017	20/07/2017	Dutch	PDF
Abridged model	31/12/2015	14/10/2016	23/12/2016	Dutch	PDF
Abridged model	31/12/2014	21/09/2015	29/09/2015	Dutch	PDF
Abridged modelCorrection	31/12/2013	07/07/2014	04/09/2014	Dutch	PDF
Abridged model	31/12/2013	07/07/2014	11/07/2014	Dutch	PDF
Abridged model	31/12/2012	03/06/2013	29/08/2013	Dutch	PDF
Abridged model	31/12/2011	28/06/2012	12/07/2012	Dutch	PDF
Abridged model	31/12/2010	02/06/2011	31/08/2011	Dutch	PDF
Abridged model	31/12/2009	02/06/2010	26/08/2010	Dutch	PDF
Abridged model	31/12/2008	02/06/2009	12/06/2009	Dutch	PDF
Abridged model	31/12/2007	02/06/2008	08/10/2008	Dutch	PDF
Abridged model	31/12/2006	04/06/2007	12/12/2007	Dutch	PDF

Estimate

Indicative valuation

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 · 2 active · 11 ended

Active mandates

Ivo Grauwels

Director

Active

Nadine Thienpont

Director

Active

Ended mandates

Ivo Grauwels

Managing director · since 04 juin 2018 · until 03 juin 2024

Ended

Nadine Thienpont

Mandate · since 04 juin 2018 · until 03 juin 2024

Ended

Ivo Grauwels

Managing director · since 28 juin 2012 · until 31 décembre 2017

Ended

Ivo Grauwels

Managing director · since 28 juin 2012 · until 28 juin 2018

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates30/12/2024
WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Registered office30/12/2022
MAATSCHAPPELIJKE ZETEL
PDF
Mandates25/07/2018
ONTSLAGEN - BENOEMINGEN
PDF
Registered office01/06/2016
MAATSCHAPPELIJKE ZETEL - ADRESSEN ANDERS DAN MAATSCHAPPELIJKE ZETEL
PDF
Mandates14/11/2012
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/04/2010
ONTSLAGEN - BENOEMINGEN
PDF
Mandates27/03/2007
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

2025
Annual accounts 2025-2,2 k €↑
2024
Annual accounts 2024-8,6 k €↓
2023
Annual accounts 2023-2,8 k €↓
2022
Annual accounts 2022-1,5 k €↑
2021
Annual accounts 2021-3,3 k €↓
2020
Annual accounts 2020-1,1 k €↓
2019
Annual accounts 2019-659,5 €↑
2018
Annual accounts 2018-2 k €↓
2017
Annual accounts 2017-1,5 k €↑
2016
Annual accounts 2016-1,8 k €↓
2015
Annual accounts 2015188,5 k €↑
2014
Annual accounts 20147,5 k €↑
2013
Annual accounts 2013-31,4 k €↑
2012
Annual accounts 2012-46,3 k €↓
2011
Annual accounts 2011-44,1 k €↑
2010
Annual accounts 2010-58,9 k €↓
2009
Annual accounts 2009-22,4 k €↓
2008
Annual accounts 2008-6 k €↓
2007
Annual accounts 2007-4,3 k €↓
2006
Annual accounts 2006150,7 k €
01/06/1992
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

GRATHIE

Overview

What does GRATHIE do?

Trend over 20 financial years

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