Debts
€2.6m 78% of the balance sheet
After one year 85%Within one year 15%
Of this, €386,446 falls due within a year.
RIVEL
Lifetime
19 annual accounts with figures on one time axis, 30 filings since 1996peak €396,574 (2015)
€194,429▲ 34.4%
lowest -€85,046 (2021)
€42,732▲ 96.5%
peak €749,806 (2025)
€749,806▲ 6.0%
€2.6m▲ 52.8%
Board3 names since 2021
1 directorBen Sallem Saber
Owners
99.44%NOA PARTNERS
Documentsfilings and deeds
27-09-202658 days late
2025abbreviated format
Gross margin from €144,649 to €194,429Result from €21,746 to €42,732Debts from €1.7m to €2.6mInvestments €805,473Cash from €6,648 to €1,036
Key points
from the 2025 annual accountsInvestments
€814,542 9.7 × depreciation
Green is investment, beige is depreciation. Land and buildings stand 33.7% higher than in 2024.
Filings
30 annual accounts since 1996
Ten of the last ten came late. The 2022 accounts came latest: 148 days after the end of the period.
Checked score
64
Healthy
Financially stronger than 38% of small companies without a NACE code
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
1.2% Low
0%0.5%1.5%4%10%≥ 25%
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 1.2%
01-2025: 1.2%● unchanged vs 12-2024
02-2025: 1.5%▲ +0.3 percentage points vs 01-2025
03-2025: 1.5%● unchanged vs 02-2025
04-2025: 1.5%● unchanged vs 03-2025
05-2025: 1.6%▲ +0.1 percentage points vs 04-2025
06-2025: 1.8%▲ +0.2 percentage points vs 05-2025
07-2025: 1.9%▲ +0.1 percentage points vs 06-2025
08-2025: 2.5%▲ +0.6 percentage points vs 07-2025
09-2025: 3.0%▲ +0.5 percentage points vs 08-2025
10-2025: 4.7%▲ +1.7 percentage points vs 09-2025highest value
11-2025: 1.3%▼ -3.4 percentage points vs 10-2025
12-2025: 1.3%● unchanged vs 11-2025
01-2026: 1.3%● unchanged vs 12-2025
02-2026: 1.3%● unchanged vs 01-2026
03-2026: 0.6%▼ -0.7 percentage points vs 02-2026
04-2026: 0.6%● unchanged vs 03-2026lowest value
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.6%● unchanged vs 05-2026
07-2026: 0.7%▲ +0.1 percentage points vs 06-2026
08-2026: 1.2%▲ +0.5 percentage points vs 07-2026
09-2026: 1.4%▲ +0.2 percentage points vs 08-2026
10-2026: 1.2%▼ -0.2 percentage points vs 09-2026
11-2026: 1.2%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.63, cash €1,036, halved
Last filed accounts filed 58 days late; 3 of the last 3 accounts late
lowers risk
Size: total assets €3.4m
Founded in 1995
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, small). It does better than 29% of them on solvency, 39% on liquidity, 15% on profitability and 70% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 4,685 companies had the same profile as RIVEL has now. Each dot stands for 12 companies, two years later.
97.0%
were still trading
1.9%
stopped another way
1.1%
went bankrupt
That fits the bankruptcy probability of RIVEL itself: 1.2% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 4,685 companies, not a prediction for RIVEL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €45,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.63 (0.56 in 2024), below 1. Short-term debt is 11.4% and cash 0% of total assets. 77.8% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises risk
raises risk · 2025 accounts filed 58 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-09-2026, 58 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
58 days late
2024
56 days late
2023
74 days late
2022
148 days late
2021
79 days late
2020
96 days late
2019
124 days late
← before the deadline
after the deadline →
tick = median of all Belgian filings
The company filed its last 7 accounts on average 91 days after the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 14 October (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- NOA PARTNERS 99.44%score 66equity €614,899 (2025) · 2025 annual accounts of NOA PARTNERS
Recent changes
Registered office moved from Uccle to Brussels
New registered office: Chaussée d'Alsemberg 212, 1190 Bruxelles · Previous registered office: Chaussée d'Alsemberg 842, 1180 Uccle · Resignation: MARBER Albert Samir (director) · General meeting of 21-12-2023 · Gazette deed
Registered office moved from Ixelles to Uccle
New registered office: chaussée d'Alsemberg 842 à 1180 Uccle · Previous registered office: Rue Américaine, 100 1050 Ixelles · Appointment: Albert MARBER (director) · Gazette deed
New sole director
BEN SALLEM Saber appointed, VAN DRUNEN Gregory resigned · Director discharge: VAN DRUNEN Gregory · General meeting of 22-02-2021 · Gazette deed
First establishment
Alsembergse Steenweg 212, Forest
Official details
Source: KBO- Status
- Active since 08-02-1995Normal situation
- Activity
- “L’acquisition,l’exploitation,l’amélioration et le développement par tous moyens d’un réseau d’agences immobilières franchisées.” (deed in French)From the articles, 10 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.070.817.0691190 Forest, since 13-12-1999
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Insights on RIVEL
RIVEL files the abbreviated format. That format states no turnover. The gross margin rose from €27,187 in 2007 to €194,429 in 2025.
NOA PARTNERS holds 99.44% of the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about RIVEL
- What is the company number of RIVEL?
- The company number of RIVEL is 0454.511.613. The VAT number is the same number with BE in front: BE 0454.511.613.
- Where is RIVEL based?
- The registered office is at Alsembergse Steenweg 212, 1190 Forest.Company details
- What is the legal form of RIVEL?
- RIVEL is a private limited company (BV).
- When was RIVEL founded?
- RIVEL was founded on 08-02-1995.
- Is RIVEL still active?
- Yes, RIVEL is an active enterprise in the KBO register.
- What is the turnover of RIVEL?
- The turnover in financial year 2025 is ≈ €490,000. This figure is estimated from the gross margin of €194,429 and 1,647 comparable companies of the same size. It probably lies between €300,000 and €930,000. It is a rough estimate.Financials
- Is RIVEL profitable?
- In financial year 2025, RIVEL made a profit of €42,732.
- Where can I find the annual accounts of RIVEL?
- RIVEL filed 30 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of RIVEL due?
- RIVEL must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed
See how customers, suppliers and banks see your own company and what to improve first.