ACTIVE

GRL HOLDING

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Financial year 2025 · Closed on 31/12/2025

Net result5 M €+18 168,2 %over 1 year

Revenue1,1 M €+2,7 %over 1 year

Equity6,4 M €+0,6 %over 1 year

Workforce8,2 ETP+10,8 %over 1 year

Identity

Source · BCE/KBO

GRL HOLDING is a Public limited company incorporated in 1996. Its main activity is: Management consultancy activities. Its registered office is in Beringen. It employs on average 8,2 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0457.194.355
Incorporation: 22/01/1996
Legal form: Public limited company
Registered office: Industrieweg 190
3583 Beringen · FlandreSee on map
Contributed capital: 171 724,00 €
Latest accounts: 31/12/2025
Average workforce: 8,2 ETP

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities 64200Activities of holding companies 64210Activities of holding companies

Joint committees (2)

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 20 filings

Trend over 20 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	1,1 M €	+2.7%	1,1 M €	+0.9%	1,1 M €	+17.6%	938 k €	+18.2%	793,5 k €
EBITDA	74 k €	+62.5%	45,5 k €	+11.9%	40,7 k €	+34.7%	30,2 k €	+66.9%	18,1 k €
Operating result	70,7 k €	+62.9%	43,4 k €	+10.8%	39,2 k €	+35.0%	29 k €	+79.7%	16,1 k €
Net result	5 M €	+18168%	27,6 k €	+24.0%	22,3 k €	+122%	10 k €	+284%	2,6 k €
Balance sheet
Equity	6,4 M €	+0.6%	6,3 M €	+0.4%	6,3 M €	+0.4%	6,3 M €	+0.2%	6,3 M €
Total assets	8,8 M €	+22.7%	7,2 M €	-36.5%	11,3 M €	+7.3%	10,5 M €	+16.4%	9 M €
Cash	2,3 M €	+400%	455,5 k €	-89.7%	4,4 M €	+123%	2 M €	+95.7%	1 M €
Debts	2,4 M €	+190%	835,3 k €	-83.2%	5 M €	+17.7%	4,2 M €	+53.2%	2,8 M €
Other
Workforce	8,2 ETP	+10.8%	7,4 ETP	+8.8%	6,8 ETP	+4.6%	6,5 ETP	0.0%	6,5 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

3 active · 7 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Christoph Bildstein	Director04/12/2017 → 30/06/2029
MERVIN0845.201.184Represented by Martine Meuws	Director04/12/2017 → 30/06/2029
Stephan Müller	Director04/12/2017 → 30/06/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Maria Meylaerts	Director2009 accounts
Michel Van Swartenbrouck	Director2009 accounts

Other companies at this address

Industrieweg 190 3583 Beringen

Company	CBE no.
GRL Glass Recycling● Active	0420.133.625
GRL Logistics● Active	0421.925.353

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full 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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 20 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	30/06/2026	22/07/2026	Dutch	PDF
Full model	31/12/2024	30/06/2025	30/06/2025	Dutch	PDF
Full model	31/12/2023	30/06/2024	23/07/2024	Dutch	PDF
Full model	31/12/2022	30/06/2023	04/07/2023	Dutch	PDF
Full model	31/12/2021	30/06/2022	11/07/2022	Dutch	PDF
Full model	31/12/2020	30/06/2021	22/07/2021	Dutch	PDF
Full model	31/12/2019	30/06/2020	14/07/2020	Dutch	PDF
Full model	31/12/2018	28/06/2019	26/07/2019	Dutch	PDF
Full model	31/12/2017	29/06/2018	06/07/2018	Dutch	PDF
Abridged model	31/12/2016	02/06/2017	13/07/2017	Dutch	PDF
Abridged model	31/12/2015	03/06/2016	27/06/2016	Dutch	PDF
Abridged model	31/12/2014	05/06/2015	18/08/2015	Dutch	PDF
Abridged model	31/12/2013	06/06/2014	08/07/2014	Dutch	PDF
Abridged model	31/12/2012	07/06/2013	05/09/2013	Dutch	PDF
Abridged model	31/12/2011	01/06/2012	14/09/2012	Dutch	PDF
Abridged model	31/12/2010	03/06/2011	10/08/2011	Dutch	PDF
Abridged model	31/12/2009	04/06/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	05/06/2009	08/07/2009	Dutch	PDF
Abridged model	31/12/2007	06/06/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	01/06/2007	30/08/2007	Dutch	PDF

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.

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 · 7 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Christoph Bildstein	Director04/12/2017 → 30/06/2029
MERVIN0845.201.184Represented by Martine Meuws	Director04/12/2017 → 30/06/2029
Stephan Müller	Director04/12/2017 → 30/06/2029

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Maria Meylaerts	Director2009 accounts
Michel Van Swartenbrouck	Director2009 accounts

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
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - BENAMING
PDF
Mandates11/01/2019
ONTSLAGEN - BENOEMINGEN
PDF

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A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings20 filings

Mandates

MERVIN

Stephan Müller

Christoph Bildstein

VABO CONSULT

SVM CONSULTING

Steve Van Swartenbrouck

Michel Van Swartenbrouck

Raf Van Swartenbrouck

Maria Meylaerts

Michel Vanswartenbrouck

1996199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820192020202120222023202420252026202720282029

GRL HOLDINGVSB HOLDING

Industrieweg 190, 3583 PaalDellestraat 10, 3560 Lummen

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Industrieweg 190, 3583 PaalCurrent	accounts 2025	Accounts 2025 · 2026-00324105
Dellestraat 10, 3560 Lummen	accounts 2021 → 2024	Accounts 2024 · 2025-00201183

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
GRL HOLDINGCurrent	accounts 2019 → 2025	Accounts 2025 · 2026-00324105
VSB HOLDING	accounts 2006 → 2018	Accounts 2018 · 2019-38600429

Events

2025
Annual accounts 20255 M €↑
2024
Annual accounts 202427,6 k €↑
2023
Annual accounts 202322,3 k €↑
2022
Annual accounts 202210 k €↑
2021
Annual accounts 20212,6 k €↓
2020
Annual accounts 202021,9 k €↓
2019
Annual accounts 201945 k €↑
2019
Name changeGRL HOLDING
2018
Annual accounts 2018-2,4 k €↓
2017
Annual accounts 201710,7 k €↓
2016
Annual accounts 2016132,2 k €↓
2015
Annual accounts 2015853,9 k €↓
2014
Annual accounts 2014996,6 k €↑
2013
Annual accounts 201328,5 k €↓
2012
Annual accounts 201245,9 k €↓
2011
Annual accounts 20112,6 M €↑
2010
Annual accounts 201026,2 k €↓
2009
Annual accounts 200940,6 k €↓
2008
Annual accounts 200842,9 k €↓
2007
Annual accounts 20071,4 M €↑
2006
Annual accounts 200631,7 k €
22/01/1996
IncorporationPublic limited company

GRL HOLDING

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events