Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 46.9 to 37.6.
-
Busy address KBO
17 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
GROHE from Zaventem, company number BE0445870594, closed financial year 2026 with a result of € 661,688 after tax. For that financial year GROHE recorded revenue of € 35.4 million and equity of € 2.4 million. Compared with financial year 2025, the result moved from € 1 million to € 661,688. The company is profitable. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on September 29, 2026.
€ 2.4 million
▲ 1% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 661,688
▼ 34% vs 2025
Profit after tax over the fiscal year.
€ 640,000 paid out
97 % of the profit went to the shareholders, mostly to Grohe International GmbH (99 % of the shares). That is where the money ends up.
People and assets in 2026
37.6
▼ 4.1 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 4.3 million
▼ 9% vs 2025
€ 115,000 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.
€ 373,436
▼ 12% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
€ 2,886
▼ 32% vs 2025
Loans from banks and other lenders, long and short.
€ 5.1 million
▲ 17% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 64 days on average.
€ 1.8 million
▼ 20% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 43,500,359 | € 35,415,637 | € 37,876,696 | € 35,426,702 | ▼ 6% |
| Profit after taxes | € 1,693,522 | € 1,131,136 | € 1,000,722 | € 661,688 | ▼ 34% |
| Equity | € 2,377,107 | € 2,356,243 | € 2,332,965 | € 2,354,653 | ▲ 1% |
| Total debts | € 10,150,547 | € 9,116,056 | € 8,530,429 | € 7,588,282 | ▼ 11% |
| Cash | € 20,698 | € 2,387 | - | - | |
| Retained profit | € 393,959 | € 373,095 | € 349,817 | € 371,505 | ▲ 6% |
| Dividend | € 1,760,000 | € 1,152,000 | € 1,024,000 | € 640,000 | ▼ 37% |
| Bank debt | € 0 | € 0 | € 4,217 | € 2,886 | ▼ 32% |
| Balance sheet total | € 12,529,239 | € 11,472,299 | € 10,863,394 | € 9,942,935 | ▼ 8% |
| Employees (FTE) | 45.9 | 46.9 | 41.7 | 37.6 | ▼ 4.1 |
Key figures of GROHE, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to GROHE?
What happened at GROHE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Koen HOUBEN stepped down as director. NBB
- Stéphane CASSIMAN stepped down as director. NBB
- Adam Edward BRYSON stepped down as director. NBB
- New annual accounts for financial year 2026: profit of € 661,688 (▼ 34% vs 2025). Source: NBB ↗
- Koen HOUBEN became a director. NBB
- Stéphane CASSIMAN became a director. NBB
- Adam Edward BRYSON became a director. NBB
- New establishment in Zaventem. KBO
In short
From € 1.7 million profit in 2023 to € 661,688 profit in 2026.
Paid € 1.9 million in corporate taxes since 2023.
Best year ever: 2023, with € 1.7 million profit.
Paid out € 4.6 million in dividends to the owners in total.
Management
The shares are held by Grohe International GmbH (99%) and Grohe Verwaltung GmbH (1%).
Directors
According to the 2026 annual accounts
Koen HOUBEN
Director
since 2025 · until 2031
Stéphane CASSIMAN
Managing director
since 2025 · until 2031
Adam Edward BRYSON
Director
since 2023 · until 2029
Shareholders
Grohe International GmbH
99%
Grohe Verwaltung GmbH
1%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Leuvensesteenweg 369
1932 Zaventem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 17 companies are registered at this address.
All companies at this address →TOYOTA BELGIUM
€ 762.2 million revenue · 2025
Inchcape Belgium Retail
€ 193.8 million revenue · 2025
AUTOPRODUCTS
€ 78.9 million revenue · 2025
VERMA-IMMO
€ 29,969 gross margin · 2025
Inchcape Belgium Distribution
€ 184.6 million revenue · 2025
+12 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
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Details
- Company number
- 0445.870.594
- VAT number
- BE 0445.870.594
- Registered office
- Leuvensesteenweg 369, 1932 Zaventem
- Names & denominations
- GROHE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 9 December 1991
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- grohe.be
- Activities · NACE
Groothandel in sanitair
Groothandel in verf, vernis en bouwmaterialen, inclusief sanitair
Groothandel in installatiemateriaal voor loodgieterswerk en verwarming
Groothandel in loodgietersmateriaal en verwarmingsinstallaties
Reparatie en onderhoud van consumentenartikelen, neg
Overige reparaties, n.e.g.