DEMRAY
ActiveSummary
The computed 12-month bankruptcy probability of DEMRAY is 1.5% (moderate). The 2025 annual accounts show equity of €2.6m and a net result of -€2,708. Equity remains stable across the filed fiscal years (±1.7% per year). The company has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability37▼-9
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days acceptable
Liquidity short (current ratio 0.08 against 0.07 in 2024; short-term debt: 0.3% and cash: 0% of total assets), and 0.3% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
99.7%
Return on assets
-0.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
41 d early
2023
31 d late
2022
89 d late
2021
24 d late
2020
2 d early
2019
38 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 24 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€150,000
EBIT margin
83.6%
Net result
-€2,708
2024 · €90,309
Working capital
-€7,944▼ 51.7%
2024 · -€5,235
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result-€22,885€27,206-€3,190-€8,561▼ 168%-€2,558▲ 70.1%
Net result-€26,047€26,947-€3,741€90,309-€2,708
EBIT margin
Equity€2.9m▼ 0.9%€2.5m▼ 15.0%€2.5m▼ 0.2%€2.6m▲ 3.6%€2.6m▼ 0.1%
Total assets€3.0m▼ 5.1%€2.6m▼ 13.8%€2.6m▼ 0.4%€2.6m=€2.6m=
Debt€79,145▼ 63.3%€103,365▲ 30.6%€96,750▼ 6.4%€5,630▼ 94.2%€8,628▲ 53.3%
Working capital-€78,733▼ 20.0%-€91,803▼ 16.6%-€95,544▼ 4.1%-€5,235▲ 94.5%-€7,944▼ 51.7%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2,558 in 2025 against €8,561 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.6m
Fixed assets
€2.6m =
Current assets
€684 ▲ 73.6%
Equity and liabilities €2.6m
Equity
€2.6m ▼ 0.1%
Debt
€8,628 ▲ 53.3%
Debt's share of the balance-sheet total rises from 0.2% to 0.3%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.08▲
2024 · 0.07
Debt to equity
0.00▲
2024 · 0.00
ROE
-0.1%▼
2024 · 3.5%
ROA
-0.1%▼
2024 · 3.5%
Debt ≤ 1 year
€8,628▲
2024 · €5,630
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €40,018 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,497 | - | - | - | - | - |
| Other operating charges640/8 | €2,755 | €2,801 | €960 | €968 | €998 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | €6,044 | - | - |
| Gross operating margin9900 | -€5,633 | €30,007 | -€2,230 | -€1,550 | -€1,560 | ▼ 0.6% |
| Operating profit (loss)9901 | -€22,885 | €27,206 | -€3,190 | -€8,561 | -€2,558 | ▲ 70.1% |
| Financial income75/76B | - | - | - | €99,000 | - | - |
| Recurring financial income75 | - | - | - | €99,000 | - | - |
| Non-recurring financial income76B | - | - | - | €99,000 | - | - |
| Financial charges65/66B | €3,162 | €259 | €551 | €130 | €150 | ▲ 15.4% |
| Recurring financial charges65 | €3,162 | €259 | €551 | €130 | €150 | ▲ 15.4% |
| Profit (loss) for the period before taxes9903 | -€26,047 | €26,947 | -€3,741 | €90,309 | -€2,708 | ▼ 103% |
| Profit (loss) for the period9904 | -€26,047 | €26,947 | -€3,741 | €90,309 | -€2,708 | ▼ 103% |
| Profit (loss) for the period to be appropriated9905 | -€26,047 | €26,947 | -€3,741 | €90,309 | -€2,708 | ▼ 103% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.0m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Fixed assets21/28 | €3.0m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Tangible fixed assets22/27 | €424,983 | - | - | - | - | - |
| Land and buildings22 | €424,983 | - | - | - | - | - |
| Financial fixed assets28 | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Current assets29/58 | €412 | €11,562 | €1,205 | €394 | €684 | ▲ 73.6% |
| Amounts receivable within one year40/41 | €297 | €10,857 | €1,172 | €331 | €333 | ▲ 0.6% |
| Other amounts receivable41 | €297 | €10,857 | €1,172 | €331 | €333 | ▲ 0.6% |
| Cash at bank and in hand54/58 | €115 | €705 | €34 | €64 | €352 | ▲ 452% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.0m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Equity10/15 | €2.9m | €2.5m | €2.5m | €2.6m | €2.6m | ▼ 0.1% |
| Contributions10/11 | €2.7m | €2.3m | €2.3m | €2.3m | €2.3m | = |
| Capital10 | €2.7m | - | - | - | - | - |
| Issued capital100 | €2.7m | - | - | - | - | - |
| Reserves13 | €33,440 | - | - | - | - | - |
| Non-distributable reserves130/1 | €33,440 | - | - | - | - | - |
| Legal reserve130 | €33,440 | - | - | - | - | - |
| Profit (loss) carried forward14 | €213,810 | €206,400 | €202,659 | €292,968 | €290,260 | ▼ 0.9% |
| Amounts payable17/49 | €79,145 | €103,365 | €96,750 | €5,630 | €8,628 | ▲ 53.3% |
| Amounts payable within one year42/48 | €79,145 | €103,365 | €96,750 | €5,630 | €8,628 | ▲ 53.3% |
| Trade debts44 | €124 | €8 | - | - | €998 | - |
| Suppliers440/4 | €124 | €8 | - | - | €998 | - |
| Taxes, remuneration and social security45 | - | €10,307 | - | - | - | - |
| Taxes450/3 | - | €10,307 | - | - | - | - |
| Other amounts payable47/48 | €79,021 | €93,051 | €96,750 | €5,630 | €7,630 | ▲ 35.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€26,047 | €26,947 | -€3,741 | €90,309 | -€2,708 | ▼ 103% |
| + Depreciation and write-downs630 | €14,497 | - | - | - | - | - |
| Operating cash flow (approximation) | -€11,550 | €26,947 | -€3,741 | €90,309 | -€2,708 | ▼ 103% |
| Investment in fixed assets (approximation) | - | €424,983 | €0 | €0 | €0 | - |
| Change in cash | - | €590 | -€671 | €30 | €288 | ▲ 867% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €90,309
Net result €90,309 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 89 days late
2022
31-12
Financial
Back to profitnet €26,947
Net result €26,947 after one loss-making year.
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 days late
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €121,319
Net result €121,319 after 2 loss-making years.
07-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 38 days late
2019
31-12
Financial
Weakest financial yearnet -€27,503
Net result drops to -€27,503, the lowest in the series; recovery starts the following year.
03-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Sint-Agatha-Berchem · 1 establishment unit since 2009
Ground area
1.0 ha
Building footprint
2,322 m²
Volume, LiDAR
16,989 m³
2 parcels, Brussels, Flanders · tallest building 13.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
DEMRAY
since 20092.176.683.265
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21003A0350/00Y002 | Brussels | 5,860 m² | 1 · 498 m² | 13.8 m · 4 fl. |
| 23095C0084/00B002 | Flanders | 4,491 m² | 1 · 1,824 m² | 9.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
According to the 2025 annual accounts of DEMRAY and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Identification
Legal formPrivate limited company
Founded22-01-2009
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0809276344
Also
9925:BE0809276344
Registered
22-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.