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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Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 9 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
GRAMITHERM EUROPE from Sambreville, company number BE0728618270, closed financial year 2025 with a result of € -3.8 million after tax. For that financial year GRAMITHERM EUROPE recorded a gross margin of € -2.2 million and equity of € -3.1 million. Compared with financial year 2024, the result moved from € -3.1 million to € -3.8 million. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 10, 2026.
€ -3.1 million
▼ € 3.8 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -3.8 million
▼ 20 % more loss than in 2024
Profit after tax over the fiscal year.
€ 276,407
▲ 150% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -14.4 million.
People and assets in 2025
14.4
▲ 1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 891,695
▼ 3% vs 2024
€ 61,900 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.
€ 596,468
▼ 14% vs 2024
Of which on lease € 528,533.
Debts at end 2025
€ 1.2 million
▼ 17% vs 2024
€ 238,008 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 254,834
▼ 31% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 132,086
▼ 5% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -1,151,539 | € -1,523,957 | € -1,566,325 | € -2,183,895 | ▼ € 617,570 |
| Profit after taxes | € -2,308,577 | € -2,933,243 | € -3,146,083 | € -3,774,248 | ▼ € 628,165 |
| Equity | € -1,049,905 | € 549,180 | € 714,064 | € -3,107,956 | ▼ € 3.8 million |
| Total debts | € 4,588,921 | € 2,498,547 | € 2,339,648 | € 5,946,478 | ▲ 154% |
| Cash | € 9,886 | € 80,440 | € 110,386 | € 276,407 | ▲ 150% |
| Retained profit | € -4,534,224 | € -7,467,467 | € -10,613,550 | € -14,387,798 | ▼ € 3.8 million |
| Bank debt | € 3,596,784 | € 1,758,637 | € 1,488,075 | € 1,236,403 | ▼ 17% |
| Balance sheet total | € 3,539,016 | € 3,047,727 | € 3,053,712 | € 2,838,522 | ▼ 7% |
| Employees (FTE) | 12.6 | 13.4 | 13.4 | 14.4 | ▲ 1 |
Key figures of GRAMITHERM EUROPE, 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 GRAMITHERM EUROPE?
What happened at GRAMITHERM EUROPE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Alice TIMMERMANS stepped down as director. NBB
- Olivier TIMMERMANS stepped down as director. NBB
- TIMVEST SRL stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 3.8 million. Source: NBB ↗
- Alice TIMMERMANS became a director. NBB
- HOLE IN ONE SAS S. Etr. stepped down as director. NBB
- Olivier TIMMERMANS became a director. NBB
- CAPITAL & CROISSANCE SC stepped down as director. NBB
In short
From € 2.3 million loss in 2022 to € 3.8 million loss in 2025.
Paid € 3,693 in corporate taxes since 2022.
A new publication or filing at GRAMITHERM EUROPE? We notify you, reason included.
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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 stake of INVESTSUD comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
GRAMITHERM EUROPEThe shares are held by INVESTSUD (1.4%). It owns 100% of GRAMITHERM NOVA and 3% of ECO-DEV itself.
Directors
According to the 2025 annual accounts
Managing director · represented by Christian ROGGEMAN
since 2022 · until 2026
Director · represented by Stéphane DANTINNE
Also active at: CONCEPTEXPO GROUP, COLONA, MEGAFORM, SUPERPLASTIC, SOCIETE COMMERCIALE ET INDUSTRIELLE, BAUWENS ROGER, SOGECAM, HORUS SOFTWARE +29 more
since 2019 · until 2025
Director · represented by Florent TIMMERMANS
since 2022 · until 2028
Alice TIMMERMANS
Director
since 2026 · until 2032
Olivier TIMMERMANS
Director
since 2026 · until 2032
Shareholders
1.4%
Participations
GRAMITHERM NOVA
100%
3%
Establishments
Establishment units
Physical locations of this company
Boulevard de l'Europe(AUV) 87
5060 Sambreville
Chemin de Rèves 5
1400 Nivelles
Active since 15 January 2023
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0728.618.270
- VAT number
- BE 0728.618.270
- Registered office
- Boulevard de l'Europe(AUV) 87, 5060 Sambreville
- Names & denominations
- GRAMITHERM EUROPE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 June 2019
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
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