Financials
- Fiscal year
- 2025
- Total assets
- €14.5m
- Loss
- -€1.6m
- Solvency
- 63.1%
Total assets▼ 6.2%
Net result
20192025
CALINRAVA
ActiveSummary
CALINRAVA has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.2m and a net result of -€1.6m. Equity is shrinking by ~5.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Activity
Activity not known1 site
Size
€14.5mtotal assets 2025
- Equity
- €9.2m
- Loss
- -€1.6m
Structure
Accounts 30 d early0 of 6 deeds read
Why 88- Loss of €1.6m, the second in a row (FY 2025)- 1 of the last 3 late+ Size: total assets €14.5m+ Figures for FY 2025 (filed 01-07-2026)Show the evidence
Checked score
Score 2025
88
/ 100
Excellent
Probability in this band: under 0.55%
Better than 20% of its sector peers (no NACE code, medium-sized)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Average
Solvency
88-11
equity 63.1% of total assets
Liquidity
42-1
short-term debt 36.7% · cash 6.7%
Profitability
5+4
return on assets -11.3%
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 9 months
02-2026: 0.5%
03-2026: 0.6%▲ +5.6% vs 02-2026
04-2026: 0.6%▼ -0.7% vs 03-2026
05-2026: 0.5%▼ -6.0% vs 04-2026
06-2026: 0.6%▲ +10.6% vs 05-2026
07-2026: 0.6%▲ +1.0% vs 06-2026highest value
08-2026: 0.1%▼ -79.9% vs 07-2026lowest value
09-2026: 0.1%▲ +1.7% vs 08-2026
10-2026: 0.1%● 0.0% vs 09-2026
- Size: total assets €14.5m lowers the probability for this profile
- Loss of €1.6m, the second in a row (FY 2025) raises the probability
- 1 of the last 3 late raises the probability
- Figures for FY 2025 (filed 01-07-2026) lowers the probability
Credit up to €800,000 at 30 days acceptable
Liquidity ample (current ratio 2.48 against 3.78 in 2024; short-term debt: 36.7% and cash: 6.7% of total assets), and 36.9% of the assets are financed with debt.
How it is calculated
The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.
| 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% |
Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (no NACE code, medium-sized). Better than this share of them on solvency 43%, liquidity 24%, profitability 4%, growth against the median 10%. That is performance, not lower risk; the band itself always comes from the probability.
Bankruptcy probability: model pd-v3.202610021621, computed on 02-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.
Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€1.6m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
7 d late
2023
270 d late
2022
635 d late
2021
259 d late
2020
27 d late
2019
286 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 208 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
02-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · abbreviated…
- Annual accounts filedfiscal year 2024 · micro…
- Weakest financial yearnet -€2.2m
Key points
By topic
Timeline
- Events
- 12
- Since
- 2016
- Next accounts
- by 31-07-2027
- 01-07-2026Annual accounts filed
- 07-08-2025Annual accounts filed
- 31-12-2024Weakest financial year
Company details
- Sites
- 1
- Legal form
- Private limited company
- Founded
- 19-02-2013
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
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