H.U. RASCH
ActiveSummary
H.U. RASCH has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €11.32M and a net result of €79k. Equity remains stable across the filed fiscal years (±1% per year). Its solvency ranks better than 95% of 1004 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▲+16
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €950k at 30 days acceptable
short-term debt: 0.7% and cash: 1.7% of total assets, and 0.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
99.3%
Return on assets
0.7%
Age of the figures
9 mo
neutral · A punctual record breaks
This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
16 d early
2023
21 d early
2022
12 d early
2021
47 d late
2020
38 d late
2019
1 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€79k▼ 88.6%
2024 · €694k
2018: €1.70M
2019: €2.45M▲ +44.4% vs 2018highest in 8 years
2020: €319k▼ -87.0% vs 2019
2021: €167k▼ -47.6% vs 2020
2022: €25k▼ -85.1% vs 2021lowest in 8 years
2023: €59k▲ +136% vs 2022
2024: €694k▲ +1081% vs 2023
2025: €79k▼ -88.6% vs 2024
2018 → 2025
Working capital
€8.24M▲ 106%
2024 · €4.00M
2018: €5.57M
2019: €9.67M▲ +73.7% vs 2018highest in 8 years
2020: €8.43M▼ -12.9% vs 2019
2021: €3.23M▼ -61.6% vs 2020
2022: €2.77M▼ -14.4% vs 2021lowest in 8 years
2023: €2.82M▲ +1.8% vs 2022
2024: €4.00M▲ +41.7% vs 2023
2025: €8.24M▲ +106% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€10.46M-€10.48M▲ 0.2%€10.54M▲ 0.6%€11.24M▲ 6.6%€11.32M▲ 0.7%
2021: €10.46Mlowest in 5 years
2022: €10.48M▲ +0.2% vs 2021
2023: €10.54M▲ +0.6% vs 2022
2024: €11.24M▲ +6.6% vs 2023
2025: €11.32M▲ +0.7% vs 2024highest in 5 years
Operating result€48k-€-3k€-26k▼ 772%€10k€38k▲ 269%
2021: €48khighest in 5 years
2022: €-3k▼ -106% vs 2021
2023: €-26k▼ -772% vs 2022lowest in 5 years
2024: €10k▲ +140% vs 2023
2025: €38k▲ +269% vs 2024
Net result€167k-€25k▼ 85.1%€59k▲ 136%€694k▲ 1,081%€79k▼ 88.6%
2021: €167k
2022: €25k▼ -85.1% vs 2021lowest in 5 years
2023: €59k▲ +136% vs 2022
2024: €694k▲ +1081% vs 2023highest in 5 years
2025: €79k▼ -88.6% vs 2024
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 269% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.39M
Fixed assets
€3.08M ▼ 57.5%
Current assets
€8.32M ▲ 106%
Equity and liabilities €11.39M
Equity
€11.32M ▲ 0.7%
Debt
€77k ▲ 104%
Debt's share of the balance-sheet total rises from 0.3% to 0.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€54k▲
2024 · €27k
Cash flow
€96k▼
2024 · €711k
Debt to equity
0.01▲
2024 · 0.00
ROE
0.7%▼
2024 · 6.2%
ROA
0.7%▼
2024 · 6.2%
Interest coverage
74.11▲
2024 · 3.29
Debt ≤ 1 year
€77k▲
2024 · €38k
Income taxes
€29k▼
2024 · €35k
A ratio outside any meaningful range has been withheld (balance sheet total €11.39M, equity €11.32M).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€11.27M€11.39M▲
Fixed assets21/28€7.24M€3.08M▼
Tangible fixed assets22/27€437k€421k▼
Land and buildings22€356k€356k=
Plant, machinery and equipment23€81k€65k▼
Financial fixed assets28€6.80M€2.65M▼
Current assets29/58€4.03M€8.32M▲
Amounts receivable after more than one year29€2.88M€6.72M▲
Trade receivables290€84k-
Other amounts receivable291€2.80M€6.72M▲
Amounts receivable within one year40/41€1.10M€1.34M▲
Trade receivables40€223k€166k▼
Other amounts receivable41€879k€1.17M▲
Cash at bank and in hand54/58€45k€199k▲
Deferred charges and accrued income490/1€4k€60k▲
Equity and liabilities
Total equity and liabilities10/49€11.27M€11.39M▲
Equity10/15€11.24M€11.32M▲
Contributions10/11€188k€188k=
Capital10€188k€188k=
Issued capital100€188k€188k=
Reserves13€55k€55k=
Non-distributable reserves130/1€37k€37k=
Legal reserve130€37k€37k=
Tax-exempt reserves132€10k€10k=
Distributable reserves133€9k€9k=
Profit (loss) carried forward14€10.99M€11.07M▲
Amounts payable17/49€38k€77k▲
Amounts payable within one year42/48€38k€77k▲
Current portion of amounts payable after more than one year42€0-
Trade debts44€1k€9k▲
Suppliers440/4€1k€9k▲
Taxes, remuneration and social security45€36k€68k▲
Taxes450/3€36k€68k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€16k▼
Other operating charges640/8€8k€1k▼
Gross operating margin9900€36k€55k▲
Operating profit (loss)9901€10k€38k▲
Financial income75/76B€727k€71k▼
Recurring financial income75€127k€71k▼
Non-recurring financial income76B€600k-
Financial charges65/66B€8k€733▼
Recurring financial charges65€8k€733▼
Profit (loss) for the period before taxes9903€729k€108k▼
Income taxes67/77€35k€29k▼
Profit (loss) for the period9904€694k€79k▼
Profit (loss) for the period to be appropriated9905€694k€79k▼
Appropriation of the result
Profit (loss) to be appropriated9906€10.99M€11.07M▲
Profit (loss) brought forward from the previous period14P€10.30M€10.99M▲
Social balance
Average headcount (FTE)90870.0-
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18k | €20k | €20k | €17k | €16k | ▼ 4.9% |
| Other operating charges640/8 | €10k | €12k | €25k | €8k | €1k | ▼ 85.9% |
| Gross operating margin9900 | €77k | €28k | €20k | €36k | €55k | ▲ 55.9% |
| Operating profit (loss)9901 | €48k | €-3k | €-26k | €10k | €38k | ▲ 269% |
| Financial income75/76B | €157k | €102k | €122k | €727k | €71k | ▼ 90.3% |
| Recurring financial income75 | €157k | €102k | €122k | €127k | €71k | ▼ 44.4% |
| Non-recurring financial income76B | - | - | - | €600k | - | - |
| Financial charges65/66B | €23k | €23k | €16k | €8k | €733 | ▼ 91.2% |
| Recurring financial charges65 | €23k | €23k | €16k | €8k | €733 | ▼ 91.2% |
| Profit (loss) for the period before taxes9903 | €183k | €77k | €80k | €729k | €108k | ▼ 85.2% |
| Income taxes67/77 | €15k | €52k | €22k | €35k | €29k | ▼ 17.7% |
| Profit (loss) for the period9904 | €167k | €25k | €59k | €694k | €79k | ▼ 88.6% |
| Profit (loss) for the period to be appropriated9905 | €167k | €25k | €59k | €694k | €79k | ▼ 88.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €14.14M | €11.38M | €11.02M | €11.27M | €11.39M | ▲ 1.1% |
| Fixed assets21/28 | €8.10M | €8.12M | €7.72M | €7.24M | €3.08M | ▼ 57.5% |
| Tangible fixed assets22/27 | €483k | €472k | €454k | €437k | €421k | ▼ 3.7% |
| Land and buildings22 | €356k | €356k | €356k | €356k | €356k | = |
| Plant, machinery and equipment23 | €128k | €117k | €98k | €81k | €65k | ▼ 20.1% |
| Assets under construction and advance payments27 | €0 | - | - | - | - | - |
| Financial fixed assets28 | €7.61M | €7.65M | €7.27M | €6.80M | €2.65M | ▼ 61.0% |
| Current assets29/58 | €6.05M | €3.26M | €3.29M | €4.03M | €8.32M | ▲ 106% |
| Amounts receivable after more than one year29 | €3.85M | €2.80M | €2.59M | €2.88M | €6.72M | ▲ 133% |
| Trade receivables290 | €83k | €83k | €84k | €84k | - | - |
| Other amounts receivable291 | €3.76M | €2.71M | €2.51M | €2.80M | €6.72M | ▲ 140% |
| Amounts receivable within one year40/41 | €864k | €6k | €682k | €1.10M | €1.34M | ▲ 21.5% |
| Trade receivables40 | €83k | €6k | €184k | €223k | €166k | ▼ 25.6% |
| Other amounts receivable41 | €782k | €0 | €497k | €879k | €1.17M | ▲ 33.4% |
| Cash at bank and in hand54/58 | €1.28M | €449k | €8k | €45k | €199k | ▲ 337% |
| Deferred charges and accrued income490/1 | €56k | €9k | €9k | €4k | €60k | ▲ 1,278% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €14.14M | €11.38M | €11.02M | €11.27M | €11.39M | ▲ 1.1% |
| Equity10/15 | €10.46M | €10.48M | €10.54M | €11.24M | €11.32M | ▲ 0.7% |
| Contributions10/11 | €188k | €188k | €188k | €188k | €188k | = |
| Capital10 | €188k | €188k | €188k | €188k | €188k | = |
| Issued capital100 | €188k | €188k | €188k | €188k | €188k | = |
| Reserves13 | €55k | €55k | €55k | €55k | €55k | = |
| Non-distributable reserves130/1 | €37k | €37k | €37k | €37k | €37k | = |
| Legal reserve130 | €37k | €37k | €37k | €37k | €37k | = |
| Tax-exempt reserves132 | €10k | €10k | €10k | €10k | €10k | = |
| Distributable reserves133 | €9k | €9k | €9k | €9k | €9k | = |
| Profit (loss) carried forward14 | €10.22M | €10.24M | €10.30M | €10.99M | €11.07M | ▲ 0.7% |
| Amounts payable17/49 | €3.69M | €901k | €475k | €38k | €77k | ▲ 104% |
| Amounts payable after more than one year17 | €874k | €407k | €0 | - | - | - |
| Financial debts170/4 | €807k | €407k | €0 | - | - | - |
| Other amounts payable178/9 | €67k | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €2.81M | €493k | €475k | €38k | €77k | ▲ 104% |
| Current portion of amounts payable after more than one year42 | €393k | €400k | €407k | €0 | - | - |
| Trade debts44 | €63k | €76k | €36k | €1k | €9k | ▲ 502% |
| Suppliers440/4 | €63k | €76k | €36k | €1k | €9k | ▲ 502% |
| Taxes, remuneration and social security45 | €5k | €18k | €31k | €36k | €68k | ▲ 87.6% |
| Taxes450/3 | €5k | €18k | €31k | €36k | €68k | ▲ 87.6% |
| Other amounts payable47/48 | €2.35M | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €167k | €25k | €59k | €694k | €79k | ▼ 88.6% |
| + Depreciation and write-downs630 | €18k | €20k | €20k | €17k | €16k | ▼ 4.9% |
| Operating cash flow (approximation) | €185k | €45k | €79k | €711k | €96k | ▼ 86.6% |
| Investment in fixed assets (approximation) | - | €-44k | €378k | €465k | €4.15M | ▲ 792% |
| Change in cash | - | €-830k | €-441k | €37k | €153k | ▲ 312% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 31 days late
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Liquidity times 15current ratio 106.62
Current ratio from 6.94 to 106.62; short-term debt falls from €475k to €38k.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet €25k ▼85.1%
Net result drops to €25k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 6.61
Current ratio from 2.15 to 6.61; short-term debt falls from €2.81M to €493k.
16-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 47 days late
2021
07-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 38 days late
2020
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Highest result since 2018net €2.45M ▲44.4%
Operating result €2.34M, net result €2.45M, both a record.
31-12
Financial
Equity above €10MEq €12.32M ▲24.8%
2 profitable years in a row build equity to €12.32M.
Show earlier events
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 27 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Sankt Vith · 1 establishment unit since 1978
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.
Klosterstrasse 364780 Sankt Vith1 establishment unit
Klosterstrasse 36, 4780 Sankt Vith
since 19782.015.018.018
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Of 2,267 companies in sector 69209 we hold annual accounts for 1,098. 123 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded03-06-1978
Fiscal year end31-12
Activities, NACEBEL 2025
69209Other tax advisory services
Scores and ratios are computed by Checked and are not a credit decision.