RACA
ActiveRACA has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-82k) and a net result of €-29k. Equity is shrinking by ~52.7% per year across the filed fiscal years. Its solvency ranks better than 5% of 687 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
38
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-6
Solvency0=
Growth32▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.27 against 1.57 in 2024; short-term debt: 62.7% and cash: 27.2% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-185.4%
Return on assets
-66.4%
Age of the figures
9 mo
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 55
Relative position
BE, all sectors
reference
Sector 55
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-82k
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
3 d early
2023
20 d late
2022
28 d late
2021
31 d late
2020
29 d late
2019
28 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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€-82k▼ 55.8%
2024 · €-52k
2018: €127k
2019: €102k
2020: €64k
2021: €28k
2022: €1k
2023: €-34k
2024: €-52k
2018 → 2025
Total assets
€44k▼ 30.1%
2024 · €63k
2018: €304k
2019: €280k
2020: €256k
2021: €120k
2022: €99k
2023: €78k
2024: €63k
2018 → 2025
Net result
€-29k▼ 55.6%
2024 · €-19k
2018: €-24k
2019: €-25k
2020: €-38k
2021: €-36k
2022: €-27k
2023: €-35k
2024: €-19k
2018 → 2025
Working capital
€7k▼ 48.5%
2024 · €14k
2018: €-111k
2019: €-101k
2020: €-119k
2021: €27k
2022: €15k
2023: €10k
2024: €14k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€28k-€1k▼ 96.1%€-34k€-52k▼ 56.0%€-82k▼ 55.8%
Operating result€-36k-€-27k▲ 26.1%€-34k▼ 29.2%€-18k▲ 48.2%€-28k▼ 56.9%
Net result€-36k-€-27k▲ 26.5%€-35k▼ 30.0%€-19k▲ 45.8%€-29k▼ 55.6%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €28k in 2025 against €18k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €44k
Fixed assets
€9k▼ 61.8%
Current assets
€35k▼ 10.9%
Key figures and ratios
EBITDA
€-9k▼
2024 · €992
Cash flow
€-11k▼
2024 · €-27
Solvency
-185.4%▼
2024 · -83.1%
Current ratio
1.27▼
2024 · 1.57
Quick ratio
1.27▼
2024 · 1.43
Debt / equity
-1.54▲
2024 · -2.20
ROA
-66.4%▼
2024 · -29.8%
Interest coverage
-4.93▼
2024 · 0.68
Debt
€125k▲
2024 · €115k
Debt ≤ 1 year
€28k▲
2024 · €25k
Income taxes
€165▲
2024 · €128
Staff costs
€784▲
2024 · €387
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€63k€44k▼
Fixed assets21/28€24k€9k▼
Tangible fixed assets22/27€21k€6k▼
Land and buildings22€4k€6k▲
Plant, machinery and equipment23€663€113▼
Furniture and vehicles24€2k€0▼
Other tangible fixed assets26€14k€0▼
Financial fixed assets28€3k€3k=
Current assets29/58€39k€35k▼
Stocks and contracts in progress3€4k€0▼
Stocks30/36€4k€0▼
Amounts receivable within one year40/41€32k€21k▼
Trade receivables40€3k€3k▲
Other amounts receivable41€30k€18k▼
Cash at bank and in hand54/58€2k€12k▲
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€63k€44k▼
Equity10/15€-52k€-82k▼
Contributions10/11€115k€115k=
Capital10€115k€115k=
Issued capital100€115k€115k=
Reserves13€73k€73k=
Non-distributable reserves130/1€12k€12k=
Legal reserve130€12k€12k=
Tax-exempt reserves132€6k€6k=
Distributable reserves133€55k€55k=
Profit (loss) carried forward14€-240k€-269k▼
Amounts payable17/49€115k€125k▲
Amounts payable within one year42/48€25k€28k▲
Financial debts43€868€0▼
Credit institutions430/8€868€0▼
Trade debts44€3k€8k▲
Suppliers440/4€3k€8k▲
Taxes, remuneration and social security45€2k€440▼
Taxes450/3€2k€440▼
Other amounts payable47/48€20k€19k▼
Accrued charges and deferred income492/3€90k€98k▲
Income statement
Code20242025
Remuneration, social security and pensions62€387€784▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€19k▼
Other operating charges640/8€8k€10k▲
Gross operating margin9900€9k€1k▼
Operating profit (loss)9901€-18k€-28k▼
Financial income75/76B€571€681▲
Recurring financial income75€571€681▲
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€-19k€-29k▼
Income taxes67/77€128€165▲
Profit (loss) for the period9904€-19k€-29k▼
Profit (loss) for the period to be appropriated9905€-19k€-29k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-240k€-269k▼
Profit (loss) brought forward from the previous period14P€-221k€-240k▼
The notes to these accounts (9 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Liquidity times 26current ratio 2.15
Current ratio from 0.08 to 2.15; short-term debt falls from €129k to €23k.
29-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 29 days late
2020
31-12
Financial
Weakest financial yearnet €-38k
Net result drops to €-38k, the lowest in the series; recovery starts the following year.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 27 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Zuienkerke · 1 establishment unit since 2003
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.
Oostendse Steenweg 558377 ZuienkerkeGround area
2,132 m²
Building footprint
876 m²
Volume, LiDAR
3,617 m³
Parcel 31018A0017/00K000, Flanders · tallest building 8.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Raca NV
since 20032.134.109.074
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31018A0017/00K000 | Flanders | 2,132 m² | 1 · 876 m² | 8.2 m · 1 fl. |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
ABBYS-Oostende
BE 0455.929.791
Oostende · Eq €1k
MADEO EXPLOITATION, GESTION & SERVICE
BE 0702.991.761
Sambreville · Eq €1k
HÏERONYMUS HOTEL MANAGEMENT
BE 0568.504.033
Brugge · Eq €1k
HOTEL ARBALESTRIERS
BE 0742.490.656
Mons · Eq €1k
WOLFOOD
BE 0666.477.595
La Louvière · Eq €1k
Of 2,395 companies in sector 55100 we hold annual accounts for 1,516. 127 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded29-09-2003
Fiscal year end31-12
Activities, NACEBEL
55100Hotels and similar accommodation
55101Hotels
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.