Dr. Raf Celus
ActiveDr. Raf Celus has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €425k and a net result of €163k. Equity is growing by ~58.3% per year across the filed fiscal years. Its solvency ranks better than 90% of 16459 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
97
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency100=
Growth78=
Track record94
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days acceptable
Liquidity ample (current ratio 15.1 against 6.17 in 2024; short-term debt: 5.5% and cash: 76.7% of total assets), and 5.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 86
Relative position
BE, all sectors
reference
Sector 86
lower
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
94.5%
Return on assets
36.2%
Age of the figures
9 mo
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 01-04-2026, 121 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
121 d early
2024
11 d early
2023
63 d late
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€425k▲ 62.1%
2024 · €262k
2023: €119k
2024: €262k
2023 → 2025
Total assets
€449k▲ 51.2%
2024 · €297k
2023: €237k
2024: €297k
2023 → 2025
Net result
€163k▲ 14.2%
2024 · €142k
2023: €117k
2024: €142k
2023 → 2025
Working capital
€350k▲ 91.9%
2024 · €182k
2023: €67k
2024: €182k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€119k-€262k▲ 119%€425k▲ 62.1%
Operating result€161k-€197k▲ 22.6%€212k▲ 7.5%
Net result€117k-€142k▲ 21.3%€163k▲ 14.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 7% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €449k
Fixed assets
€75k▼ 5.8%
Current assets
€374k▲ 72.1%
Equity and liabilities €449k
Equity
€425k▲ 62.1%
Debt
€25k▼ 29.7%
The debt ratio falls from 11.9% to 5.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€227k▲
2024 · €210k
Cash flow
€178k▲
2024 · €155k
Solvency
94.5%▲
2024 · 88.1%
Current ratio
15.10▲
2024 · 6.17
Quick ratio
15.10▲
2024 · 6.17
Debt / equity
0.06▼
2024 · 0.13
ROE
38.3%▼
2024 · 54.4%
ROA
36.2%▼
2024 · 47.9%
Interest coverage
74.44▲
2024 · 60.44
Debt
€25k▼
2024 · €35k
Debt ≤ 1 year
€25k▼
2024 · €35k
Income taxes
€52k▲
2024 · €51k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€297k€449k▲
Fixed assets21/28€80k€75k▼
Intangible fixed assets21€75k€63k▼
Tangible fixed assets22/27€5k€13k▲
Plant, machinery and equipment23€4k€8k▲
Furniture and vehicles24-€3k
Other tangible fixed assets26€985€1k▲
Current assets29/58€217k€374k▲
Amounts receivable within one year40/41€267€3k▲
Other amounts receivable41€267€3k▲
Current investments50/53€160k-
Cash at bank and in hand54/58€24k€345k▲
Deferred charges and accrued income490/1€34k€27k▼
Equity and liabilities
Total equity and liabilities10/49€297k€449k▲
Equity10/15€262k€425k▲
Contributions10/11€2k€2k=
Reserves13€260k€423k▲
Distributable reserves133€260k€423k▲
Amounts payable17/49€35k€25k▼
Amounts payable within one year42/48€35k€25k▼
Trade debts44€113€2k▲
Suppliers440/4€113€2k▲
Taxes, remuneration and social security45€25k€11k▼
Taxes450/3€25k€11k▼
Other amounts payable47/48€10k€12k▲
Income statement
Code20242025
Non-recurring operating income76A€342-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€15k▲
Other operating charges640/8€2k€687▼
Gross operating margin9900€212k€227k▲
Operating profit (loss)9901€197k€212k▲
Financial income75/76B-€6k
Recurring financial income75-€6k
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€193k€214k▲
Income taxes67/77€51k€52k▲
Profit (loss) for the period9904€142k€163k▲
Profit (loss) for the period to be appropriated9905€142k€163k▲
Appropriation of the result
Profit (loss) to be appropriated9906€142k€163k▲
Transfer to equity691/2€142k€163k▲
To other reserves6921€142k€163k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2023net €163k ▲14.2%
Operating result €212k, net result €163k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 15.10
Current ratio from 6.17 to 15.10; short-term debt falls from €35k to €25k.
20-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 6.17
Current ratio from 1.85 to 6.17; short-term debt falls from €80k to €35k.
31-12
Financial
Equity above €200kEq €262k ▲119%
2 profitable years in a row build equity to €262k.
02-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 63 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Maaseik · 2 establishment units since 2022
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Sint-Jansberg 503680 MaaseikGround area
2,351 m²
Building footprint
506 m²
Volume, LiDAR
1,766 m³
2 parcels, Flanders · tallest building 10.6 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
Dr. Raf Celus
since 20222.340.115.793
Dr. Raf Celus
since 20222.340.115.892
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72021A1132/00E008 | Flanders | 1,203 m² | 1 · 246 m² | 10.6 m · 3 fl. |
| 72021A1058/00A003 | Flanders | 1,148 m² | 1 · 260 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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JAN WYNDAELE
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DR. RIA LEENDERS
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VAN PUYVELDE Katrien, geriater
BE 0688.563.903
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CABINET MEDICAL STEPHANE HORMAN
BE 0471.347.150
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Of 9,119 companies in sector 86210 we hold annual accounts for 6,336. 5,027 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded20-12-2022
Fiscal year end31-12
Activities, NACEBEL
86210General medical practice
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.