Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 56 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 38.2 to 32.7.
Financials
Financial year 2025
ZINACOR from Liège, company number BE0462156795, closed financial year 2025 with a result of € 2.2 million after tax. For that financial year ZINACOR recorded revenue of € 31.6 million and equity of € 5.1 million. Compared with financial year 2024, the result moved from € 942,417 to € 2.2 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 28, 2026.
€ 5.1 million
▲ 16% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.2 million
▲ 136% vs 2024
Profit after tax over the fiscal year.
€ 487,590
▼ 74% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 1.5 million paid out
68 % of the profit went to the shareholders, mostly to GRILLO ZINC METALS GMBH (99 % of the shares). That is where the money ends up.
People and assets in 2025
32.7
▼ 4.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.3 million
▲ 2% vs 2024
€ 101,100 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.
€ 76,293
▲ 15% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 3.7 million
▼ 3% vs 2024
€ 288,292 is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 1 million
▼ 60% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 15 days on average.
€ 1.7 million
▲ 5% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 35,462,302 | € 31,832,627 | € 29,892,288 | € 31,603,444 | ▲ 6% |
| Profit after taxes | € 1,758,935 | € 313,891 | € 942,417 | € 2,221,576 | ▲ 136% |
| Equity | € 5,635,074 | € 4,950,157 | € 4,389,717 | € 5,111,294 | ▲ 16% |
| Total debts | € 7,216,113 | € 8,251,138 | € 9,603,604 | € 8,013,124 | ▼ 17% |
| Cash | € 974,345 | € 377,333 | € 1,884,748 | € 487,590 | ▼ 74% |
| Land & buildings | - | € 3,493,992 | € 3,359,390 | € 3,244,550 | ▼ 3% |
| Retained profit | € 3,126,504 | € 2,440,396 | € 1,882,812 | € 2,604,389 | ▲ 38% |
| Dividend | € 1,000,000 | € 1,000,000 | € 1,500,000 | € 1,500,000 | |
| Bank debt | € 3,657,855 | € 4,315,772 | € 3,844,640 | € 3,715,883 | ▼ 3% |
| Balance sheet total | € 12,857,652 | € 13,204,817 | € 14,330,372 | € 13,639,417 | ▼ 5% |
| Employees (FTE) | 36.4 | 38.2 | 36.9 | 32.7 | ▼ 4.2 |
Key figures of ZINACOR, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to ZINACOR?
What happened at ZINACOR in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- LOTHAR KONRAD stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 2.2 million (▲ 136% vs 2024). filed late Source: NBB ↗
- LOTHAR KONRAD became a director. NBB
- New establishment in Liège. KBO
- Start of the company according to the CBE. KBO
In short
From € 1.8 million profit in 2022 to € 2.2 million profit in 2025.
Paid € 4.8 million in corporate taxes since 2022.
Best year ever: 2025, with € 2.2 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 GRILLO ZINC METALS GMBH (99%) and GABRIELLA GRILLO (1%).
Directors
According to the 2025 annual accounts
LOTHAR KONRAD
Managing director
since 2024 · until 2029
Shareholders
GRILLO ZINC METALS GMBH
99%
GABRIELLA GRILLO
1%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue de Chênée 53
4031 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 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.
Website
Technologies
Hosting & Email
Email provider
Self-hosted
Hosting
Online SAS, FR
DNS
Cloudflare DNS
Domain
Domain
zinacor.com
Registered
1998-06-17
Registrar
Scaleway SAS
Expires
2026-06-16
Website info
Features
Security
Details
- Company number
- 0462.156.795
- VAT number
- BE 0462.156.795
- Registered office
- Rue de Chênée 53, 4031 Liège
- Names & denominations
- ZINACOR
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 December 1997
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- zinacor.com
- Activities · NACE
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