Checked.be
Active
BE 0477.542.480Public limited company
DE RA
Paul de Smet de Naeyerstraat 4 ·8430 Middelkerke, Belgium· 24 yrs active
Sector: Development of residential building projects
(68121)
Conclusion
DE RA has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €380k and a net result of €-101k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 45% of 547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €380k |
| Net result | €-101k |
| Better than sector | 45% |
| Active | 24 yrs |
Financial profile
42
/ 100
Fragile profile, watch profitability in particular.
All 5 axes are computed from data Checked has read.
Health
35
Profitability
0
Solvency
23
Growth
52
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2002, 24 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
35
/ 100
Weak
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€13k
estimate, not credit advice
Score history
55
2022
35
2023
27
2024
35
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.16 (≥ 1.0)
+5
Quick ratio
Quick ratio 0.09 (< 0.6)
-5
Leverage
Debt/equity 6.84 (> 3.0)
-10
Profitability
Negatieve ROE -27%
-10
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 26-07-2026 with the NBB · fiscal year 2025 · abbreviated schema
Sector comparison
Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 12.8% | 16.2% | |
| Net result | €-101k | €6k | |
| Equity | €380k | €167k | |
| Gross operating margin | €-7k | €77k | |
| Total assets | €2.98M | €1.39M |
€-101k
+67.2%
22-25
€2.98M
-5.2%
22-25
€380k
-21.0%
22-25
€399k
-28.8%
22-25
€0
-
22-25
€2.60M
-2.4%
22-25
€2.56M
-0.1%
22-25
€33k
-60.5%
22-25
1.16
-5.1%
22-25
0.09
-46.1%
22-25
12.8%
-16.6%
22-25
6.84
+23.5%
22-25
-26.6%
+58.4%
22-25
-3.4%
+65.3%
22-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Deposit | abbreviated schema | micro schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - | - |
| EBITDA | - | - | - | - |
| Net profit | €-101k | €-307k | €-541 | €1.97M |
| Cash flow | - | - | - | - |
| Staff costs | - | - | - | - |
| Income taxes | €0 | €0 | €0 | - |
| Dividends | - | - | - | - |
| Total assets | €2.98M | €3.14M | €3.83M | €3.01M |
| Equity | €380k | €480k | €787k | €82k |
| Debt | €2.60M | €2.66M | €3.04M | €2.93M |
| of which ≤ 1y | €2.56M | €2.56M | €1.83M | €2.42M |
| of which > 1y | €33k | €85k | €1.15M | €506k |
| Working capital | €399k | €560k | €1.98M | €568k |
| Employees (FTE) | - | - | - | - |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, micro schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Current ratio | 1.16 | 1.22 | 2.09 | 1.23 |
| Quick ratio | 0.09 | 0.17 | 0.47 | 0.80 |
| Working capital ratio | 13.4% | 17.8% | 51.8% | 18.9% |
| Solvency | 12.8% | 15.3% | 20.5% | 2.7% |
| Debt / equity | 6.84 | 5.54 | 3.87 | 35.72 |
| Long-term debt ratio | 0.09 | 0.18 | 1.46 | 6.17 |
| Interest coverage | - | - | - | - |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | -3.4% | -9.8% | 0.0% | 65.3% |
| ROE | -26.6% | -63.9% | -0.1% | 2399.3% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €2.98M | €3.14M | €3.83M | €3.01M |
| Fixed assets | 21/28 | €20k | €20k | €20k | €20k |
| Financial fixed assets | 28 | €20k | €20k | €20k | €20k |
| Current assets | 29/58 | €2.96M | €3.12M | €3.81M | €2.99M |
| Stocks & contracts in progress | 3 | €2.73M | €2.70M | €2.96M | €1.06M |
| Amounts receivable within one year | 40/41 | €226k | €395k | €824k | €1.44M |
| Cash & bank | 54/58 | €2k | €28k | €28k | €496k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €2.98M | €3.14M | €3.83M | €3.01M |
| Equity | 10/15 | €380k | €480k | €787k | €82k |
| Contributions / capital | 10/11 | €62k | €62k | €62k | €62k |
| Reserves | 13 | €706k | €706k | €706k | €6k |
| Accumulated profits (losses) | 14 | €-389k | €-288k | €19k | €14k |
| Amounts payable | 17/49 | €2.60M | €2.66M | €3.04M | €2.93M |
| Amounts payable after one year | 17 | €33k | €85k | €1.15M | €506k |
| Amounts payable within one year | 42/48 | €2.56M | €2.56M | €1.83M | €2.42M |
| Trade debts payable within one year | 44 | €404k | €454k | €280k | €230k |
| Income statement | |||||
| Gross operating margin | 9900 | €-7k | €-168k | €77k | €1.98M |
| Operating result | 9901 | €-29k | €-180k | €72k | €1.97M |
| Financial income | 75 | €30 | €20k | €4k | €48k |
| Financial charges | 65 | €72k | €146k | €77k | €52k |
| Result before taxes | 9903 | €-101k | €-307k | €-541 | €1.97M |
| Income taxes | 67/77 | €0 | €0 | €0 | - |
| Net result for the period | 9904 | €-101k | €-307k | €-541 | €1.97M |
| Result to be appropriated | 9905 | €-101k | €-307k | €-541 | €1.97M |
Legal Structure
| NACE primary | Development of residential building projects(68121) |
| Legal form | Public limited company(014) |
| Incorporation | 16-05-2002 |
| Status | Active |
| Postal code | 8430 |
Establishment units
DE RA
since 20022.115.461.815
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35011B0077/00M002 | Flanders | 164 m² | 1 · 87 m² | 17.5 m · 4 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 20 days late
2024
31-12
Financial
Weakest financial yearnet €-307k
Net result drops to €-307k, the lowest in the series; recovery starts the following year.
16-09
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 47 days late
2023
31-12
Financial
Equity above €500kEq €787k ▲860%
Equity rises from €82k to €787k.
15-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 46 days late
28-07
State Gazette act
Registered-office change
2022
10-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
20-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 51 days late
2020
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
04-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
10-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 41 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
Address history · 1
28-07-2023
Registered-office move
All acts · 1
updated 3 years ago
2023
28-07-2023 Registered office moved from Gent to Middelkerke
- Paul de Smet de 4, Middelkerke
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "siege_social",
"new_address": {
"raw": null,
"city": "Middelkerke",
"region": null,
"street": "Paul de Smet de",
"country": "BE",
"postcode": null,
"box_number": null,
"street_number": "4",
"locality_suffix": null
},
"old_address": {
"raw": null,
"city": "Gent",
"region": null,
"street": null,
"country": "BE",
"postcode": null,
"box_number": null,
"street_number": null,
"locality_suffix": null
},
"effective_date": "2023-07-28",
"evidence_quote": "Aanvaarding van het voorstel tot verplaatsing van de maatschappelijke zetel naar Paul de Smet de Naeyerstraat 4 in Middelkerke, dit met onmiddellijke ingang.",
"region_changed": false,
"is_statute_change": true,
"nationality_change": false,
"old_address_source": "header_volledig_adres",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": "immediate",
"statutaire_vs_werkelijke": "statutaire",
"linguistic_region_changed": false,
"court_jurisdiction_changed": false,
"effective_date_is_approximate": false
}
],
"notary": {
"name": null,
"firm_city": null,
"firm_name": null,
"office_city": null,
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": null,
"filing_date": "2023-07-17",
"act_kind_objet": "Onderwerp akte:"
},
"decision": {
"body": "enige_bestuurder",
"date": "2023-06-01",
"unanimous": null
},
"subject_company": {
"kbo": "0477.542.480",
"name_full": "DE RA NV",
"legal_form": "NV"
},
"publication_proxy": {
"kind": "person",
"org_kbo": null,
"org_name": null,
"person_name": "DANNY SERLIPPENS",
"org_rep_person_name": null,
"person_role_at_subject": "bestuurder"
},
"co_filed_documents": [
"Bijl\u00E4gen bij het Belgisch Staatsblad",
"Annexes dur Moniteur belge"
]
}Credit advice
Company registry (CBE)
Activities
Development of residential building projects6812170111Real estate agency activities68310Real estate activities6831170311
Names & trade names
| Legal nameNL | DE RA |
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