Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 18 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
GRL Glass Recycling from Beringen, company number BE0420133625, closed financial year 2025 with a result of € 1.9 million after tax. For that financial year GRL Glass Recycling recorded revenue of € 22.1 million and equity of € 17.2 million. Compared with financial year 2024, the result moved from € 3.3 million to € 1.9 million. The company is profitable. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 22, 2026.
€ 17.2 million
▼ 15% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.9 million
▼ 44% vs 2024
Profit after tax over the fiscal year.
€ 195,739
▲ 137% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 5 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
26.3
▲ 1.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.9 million
▲ 13% vs 2024
€ 70,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 387,305
▼ 23% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 5 million
▼ 40% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 107 days on average.
€ 601,765
▲ 15% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 19,170,341 | € 21,392,880 | € 21,445,832 | € 22,098,499 | ▲ 3% |
| Profit after taxes | € 1,234,468 | € 1,398,969 | € 3,329,108 | € 1,854,909 | ▼ 44% |
| Equity | € 15,447,498 | € 16,846,467 | € 20,175,575 | € 17,161,374 | ▼ 15% |
| Total debts | € 3,817,929 | € 6,946,415 | € 14,584,664 | € 24,624,578 | ▲ 69% |
| Cash | € 932,283 | € 141,141 | € 82,634 | € 195,739 | ▲ 137% |
| Land & buildings | € 610,899 | € 4,069,958 | € 4,045,710 | € 19,391,329 | ▲ € 15.3 million |
| Retained profit | € 15,341,226 | € 16,740,195 | € 20,069,303 | € 16,924,213 | ▼ 16% |
| Dividend | € 0 | € 0 | € 0 | € 5,000,000 | |
| Balance sheet total | € 19,265,428 | € 24,392,883 | € 35,360,240 | € 42,385,951 | ▲ 20% |
| Employees (FTE) | 25.6 | 26.5 | 25 | 26.3 | ▲ 1.3 |
Key figures of GRL Glass Recycling, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to GRL Glass Recycling?
What happened at GRL Glass Recycling in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Stephan Müller stepped down as director. NBB
- Christoph Bildstein stepped down as director. NBB
- Mervin stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.9 million (▼ 44% vs 2024). Source: NBB ↗
- New establishment in Beringen. KBO
- Stephan Müller became a director. NBB
- Christoph Bildstein became a director. NBB
- Mervin became a director. NBB
In short
From € 1.2 million profit in 2022 to € 1.9 million profit in 2025.
Paid € 2.8 million in corporate taxes since 2022.
Best year ever: 2024, with € 3.3 million profit.
Paid out € 5 million in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by GRL Holding NV (100%).
Directors
According to the 2025 annual accounts
since 2017 · until 2029
since 2017 · until 2029
Director · represented by Martine Meuws
Also active at: ISOBUILD VERVIERS, TECHNICAS, ISOBUILD KORTEMARK, GRL Logistics, ISOBUILD HOBOKEN, GRL HOLDING, VERMEERSCH LOGISTICS, ISOLTEAM
since 2017 · until 2029
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Industrieweg 190
3583 Beringen
Dellestraat 10
3560 Lummen
Active since 18 February 1980
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0420.133.625
- VAT number
- BE 0420.133.625
- Registered office
- Industrieweg 190, 3583 Beringen
- Names & denominations
- GRL Glass Recycling
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 February 1980
- Peppol
- Active · Active since 7 Oct 2025
- Activities · NACE
Terugwinning van materialen uit afval
Recycling van niet-metaalafval
Terugwinning van inerte afvalstoffen