I.A.V. RAPHA
ActiveI.A.V. RAPHA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €67k and a net result of €8k. Equity is growing by ~28.7% per year across the filed fiscal years. Its solvency ranks better than 80% of 37972 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
93
/ 100
Excellent= vs 2023
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability58▼-42
Solvency100▲+3
Growth59=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 5.34 against 2.07 in 2023), and 16.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four 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 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 06-10-2025, 67 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 · 8 filingsDeviation from the deadline
2025
not confirmed
2024
67 d late
2023
68 d late
2022
43 d late
2021
78 d late
2020
90 d late
2019
284 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Turnover
€169k▲ 9.3%
2021 · €154k
2018: €107k
2019: €98k
2020: €112k
2021: €154k
2018 → 2022
EBIT margin
19.4%▲ 10.5pp
2021 · 8.9%
2018: 18.3%
2019: 14.7%
2020: -8.2%
2021: 8.9%
2018 → 2022
Net result
€8k▼ 35.2%
2023 · €12k
2018: €13k
2019: €9k
2020: €-10k
2021: €8k
2022: €21k
2023: €12k
2018 → 2024
Working capital
€57k▲ 9.2%
2023 · €52k
2018: €-194
2019: €13k
2020: €7k
2021: €18k
2022: €40k
2023: €52k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€112k-€154k▲ 37.6%€169k▲ 9.3%
Equity€18k-€26k▲ 45.1%€48k▲ 79.8%€59k▲ 25.1%€67k▲ 13.0%
Operating result€-9k-€14k€33k▲ 139%€19k▼ 43.1%€10k▼ 44.8%
Net result€-10k-€8k€21k▲ 157%€12k▼ 43.5%€8k▼ 35.2%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 45% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €80k
Fixed assets
€11k▲ 28.5%
Current assets
€70k▼ 30.7%
Equity and liabilities €80k
Equity
€67k▲ 13.0%
Debt
€13k▼ 73.5%
The debt ratio falls from 45.2% to 16.2%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€13k▼
2023 · €21k
Cash flow
€10k▼
2023 · €15k
Solvency
83.8%▲
2023 · 54.8%
Current ratio
5.34▲
2023 · 2.07
Quick ratio
5.34▲
2023 · 2.07
Debt / equity
0.19▼
2023 · 0.83
ROE
11.5%▼
2023 · 20.1%
ROA
9.6%▼
2023 · 11.0%
Interest coverage
26.87▼
2023 · 74.57
Debt
€13k▼
2023 · €49k
Debt ≤ 1 year
€13k▼
2023 · €49k
Income taxes
€2k▼
2023 · €7k
Staff costs
€144▼
2023 · €880
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€109k€80k▼
Fixed assets21/28€8k€11k▲
Tangible fixed assets22/27€5k€3k▼
Furniture and vehicles24€5k€3k▼
Financial fixed assets28€3k€8k▲
Current assets29/58€100k€70k▼
Amounts receivable within one year40/41€53k€54k▲
Trade receivables40€46k€47k▲
Other amounts receivable41€8k€8k=
Cash at bank and in hand54/58€46k€15k▼
Deferred charges and accrued income490/1€992-
Equity and liabilities
Total equity and liabilities10/49€109k€80k▼
Equity10/15€59k€67k▲
Contributions10/11€3k€3k=
Reserves13€270€270=
Non-distributable reserves130/1€270€270=
Reserves not available under the articles1311€270€270=
Profit (loss) carried forward14€57k€64k▲
Amounts payable17/49€49k€13k▼
Amounts payable after more than one year17€576-
Financial debts170/4€576-
Amounts payable within one year42/48€49k€13k▼
Current portion of amounts payable after more than one year42€942€2k▲
Trade debts44€7k€3k▼
Suppliers440/4€7k€3k▼
Taxes, remuneration and social security45€26k€6k▼
Taxes450/3€23k€6k▼
Remuneration and social security454/9€4k€35▼
Other amounts payable47/48€14k€2k▼
Income statement
Code20232024
Remuneration, social security and pensions62€880€144▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▼
Other operating charges640/8€878€205▼
Gross operating margin9900€23k€13k▼
Operating profit (loss)9901€19k€10k▼
Financial income75/76B€113-
Recurring financial income75€113-
Financial charges65/66B€288€480▲
Recurring financial charges65€288€480▲
Profit (loss) for the period before taxes9903€18k€10k▼
Income taxes67/77€7k€2k▼
Profit (loss) for the period9904€12k€8k▼
Profit (loss) for the period to be appropriated9905€12k€8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€57k€64k▲
Profit (loss) brought forward from the previous period14P€45k€57k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
06-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 67 days late
2024
31-12
Financial
Liquidity triplescurrent ratio 5.34
Current ratio from 2.07 to 5.34; short-term debt falls from €49k to €13k.
07-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 68 days late
2023
12-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 43 days late
2022
31-12
Financial
Highest result since 2018net €21k ▲157%
Operating result €33k, net result €21k, both a record.
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 78 days late
2021
31-12
Financial
Back to profitnet €8k
Net result €8k after one loss-making year.
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 90 days late
11-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 284 days late
2020
31-12
Financial
Weakest financial yearnet €-10k ▼208%
Net result drops to €-10k, the lowest in the series; recovery starts the following year.
13-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 348 days late
2018
13-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 105 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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, Ganshoren · 1 establishment unit since 2017
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.
Rusatiralaan 81083 GanshorenGround area
3,988 m²
Building footprint
1,498 m²
Volume, LiDAR
13,646 m³
2 parcels, Brussels · tallest building 22.8 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
I.A.V. RAPHA
since 20172.264.043.940
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21392A0008/00H003 | Brussels | 3,864 m² | 1 · 1,347 m² | 9.0 m · 3 fl. |
| 21814P0250/00E006 | Brussels | 124 m² | 1 · 151 m² | 22.8 m · 7 fl. |
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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Strategic Energy Consultancy
BE 0804.169.887
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SOUTH-NORMAN
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MOHIRA
BE 1012.302.688
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Ricardo Invest
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Balen · Eq €67k
Of 82,215 companies in sector 70200 we hold annual accounts for 52,392. 39,354 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-04-2017
Fiscal year end31-12
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
82100Office administrative and support services
82110Office administrative, office support and other business support activities
90202Performing arts by artistic ensembles
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.