RACHMAN
ActiveSummary
The computed 12-month bankruptcy probability of RACHMAN is 2.0% (moderate). The 2024 annual accounts show negative equity (-€10,133) and a net result of -€16,310. Equity is growing by ~9.5% per year across the filed fiscal years. Its solvency ranks better than 15% of 540 sector peers (fiscal year 2024). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-100
Solvency10▼-25
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
2.0%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.84 against 1.12 in 2023; short-term debt: 94% and cash: 13.2% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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 2024Solvency, return and age of the figures
Solvency
-14.8%
Return on assets
-23.7%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 31
Relative position
BE, all sectors
reference
Manufacture of furniture (NACE 31)
about 43% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
222324
2022 to 2024 · latest year -€10,133
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 3 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
61 d late
2022
11 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 26 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€10,133
2023 · €6,177
Total assets
€68,690▲ 8.8%
2023 · €63,159
Net result
-€16,310
2023 · €18,238
Working capital
-€10,487
2023 · €4,641
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 31, Manufacture of furniture, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202220232024
Operating result€840-€20,278▲ 2,315%-€14,656
Net result-€26below the sector's middle half-€18,238within the sector's middle half-€16,310below the sector's middle half
Equity-€12,061below the sector's middle half-€6,177below the sector's middle half-€10,133below the sector's middle half
Total assets€45,329below the sector's middle half-€63,159below the sector's middle half▲ 39.3%€68,690within the sector's middle half▲ 8.8%
Debt€57,390-€56,982▼ 0.7%€78,823▲ 38.3%
Working capital-€2,662below the sector's middle half-€4,641within the sector's middle half-€10,487below the sector's middle half
Solvency-26.6%below the sector's middle half-9.8%within the sector's middle half▲ 36.4pp-14.8%below the sector's middle half▼ 24.5pp
Current ratio0.93below the sector's middle half-1.12within the sector's middle half▲ 0.180.84below the sector's middle half▼ 0.28
Return on assets (ROA)-0.1%below the sector's middle half-28.9%above the sector's middle half▲ 28.9pp-23.7%below the sector's middle half▼ 52.6pp
Staff (FTE)0.7below the sector's middle half-1.1▲ 57.1%1▼ 9.1%
above
within
below
the middle half (P25 to P75) of NACE 31, Manufacture of furniture, each year against the same schema; no band under 30 filings.
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 turns negative in 2024: a loss of €14,656 after €20,278 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €68,690
Fixed assets
€14,608 ▼ 25.5%
Current assets
€54,082 ▲ 24.2%
Key figures and ratios
EBITDA
-€3,360▼
2023 · €27,579
Cash flow
-€5,014▼
2023 · €25,539
Debt to equity
-7.78▼
2023 · 9.23
Interest coverage
-1.84▼
2023 · 12.55
Debt ≤ 1 year
€64,569▲
2023 · €38,906
Debt > 1 year
€14,254▼
2023 · €18,076
Staff costs
€41,940▲
2023 · €40,408
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,940 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.0%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,940 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €20,543 | €40,408 | €41,940 | ▲ 3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,616 | €7,301 | €11,296 | ▲ 54.7% |
| Other operating charges640/8 | €1,055 | €6,544 | €2,335 | ▼ 64.3% |
| Gross operating margin9900 | €25,054 | €74,531 | €40,915 | ▼ 45.1% |
| Operating profit (loss)9901 | €840 | €20,278 | -€14,656 | ▼ 172% |
| Financial income75/76B | €593 | €157 | €177 | ▲ 12.4% |
| Recurring financial income75 | €593 | €157 | €177 | ▲ 12.4% |
| Financial charges65/66B | €1,459 | €2,197 | €1,831 | ▼ 16.7% |
| Recurring financial charges65 | €1,459 | €2,197 | €1,831 | ▼ 16.7% |
| Profit (loss) for the period before taxes9903 | -€26 | €18,238 | -€16,310 | ▼ 189% |
| Profit (loss) for the period9904 | -€26 | €18,238 | -€16,310 | ▼ 189% |
| Profit (loss) for the period to be appropriated9905 | -€26 | €18,238 | -€16,310 | ▼ 189% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €45,329 | €63,159 | €68,690 | ▲ 8.8% |
| Fixed assets21/28 | €7,254 | €19,612 | €14,608 | ▼ 25.5% |
| Tangible fixed assets22/27 | €6,504 | €16,362 | €11,358 | ▼ 30.6% |
| Plant, machinery and equipment23 | €3,608 | €2,805 | €6,466 | ▲ 131% |
| Furniture and vehicles24 | €2,895 | €13,558 | €4,892 | ▼ 63.9% |
| Financial fixed assets28 | €750 | €3,250 | €3,250 | = |
| Current assets29/58 | €38,075 | €43,547 | €54,082 | ▲ 24.2% |
| Amounts receivable within one year40/41 | €38,075 | €14,360 | €44,268 | ▲ 208% |
| Trade receivables40 | €33,613 | €10,300 | €41,880 | ▲ 307% |
| Other amounts receivable41 | €4,461 | €4,060 | €2,387 | ▼ 41.2% |
| Cash at bank and in hand54/58 | - | €29,187 | €9,044 | ▼ 69.0% |
| Deferred charges and accrued income490/1 | - | - | €770 | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €45,329 | €63,159 | €68,690 | ▲ 8.8% |
| Equity10/15 | -€12,061 | €6,177 | -€10,133 | ▼ 264% |
| Contributions10/11 | €500 | €500 | €500 | = |
| Reserves13 | €4,325 | €5,677 | €5,677 | = |
| Distributable reserves133 | €4,325 | €5,677 | €5,677 | = |
| Profit (loss) carried forward14 | -€16,886 | - | -€16,310 | - |
| Amounts payable17/49 | €57,390 | €56,982 | €78,823 | ▲ 38.3% |
| Amounts payable after more than one year17 | €16,653 | €18,076 | €14,254 | ▼ 21.1% |
| Financial debts170/4 | €16,653 | €18,076 | €14,254 | ▼ 21.1% |
| Amounts payable within one year42/48 | €40,736 | €38,906 | €64,569 | ▲ 66.0% |
| Current portion of amounts payable after more than one year42 | €1,853 | €6,180 | €3,822 | ▼ 38.1% |
| Financial debts43 | €11,767 | - | - | - |
| Credit institutions430/8 | €11,767 | - | - | - |
| Trade debts44 | €8,281 | €1,673 | €27,931 | ▲ 1,570% |
| Suppliers440/4 | €8,281 | €1,673 | €27,931 | ▲ 1,570% |
| Advances received on contracts in progress46 | - | €999 | €999 | = |
| Taxes, remuneration and social security45 | €18,836 | €29,526 | €30,306 | ▲ 2.6% |
| Taxes450/3 | €2,031 | €4,392 | €8,770 | ▲ 99.7% |
| Remuneration and social security454/9 | €16,805 | €25,135 | €21,536 | ▼ 14.3% |
| Other amounts payable47/48 | - | €528 | €1,511 | ▲ 186% |
| Line | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€26 | €18,238 | -€16,310 | ▼ 189% |
| + Depreciation and write-downs630 | €2,616 | €7,301 | €11,296 | ▲ 54.7% |
| Operating cash flow (approximation) | €2,590 | €25,539 | -€5,014 | ▼ 120% |
| Investment in fixed assets (approximation) | - | -€19,660 | -€6,292 | ▲ 68.0% |
| Change in cash | - | - | -€20,143 | - |
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
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet -€16,310
Net result drops to -€16,310, the lowest in the series.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Back to profitnet €18,238
Net result €18,238 after one loss-making year.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
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, Brugge · 2 establishment units since 2015
Ground area
1,467 m²
Building footprint
160 m²
Volume, LiDAR
1,160 m³
2 parcels, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
RACHMAN
since 20152.243.006.125
Rachman
since 20242.359.548.853
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31807I0530/00L000 | Flanders | 1,291 m² | 1 · 57 m² | 9.8 m · 2 fl. |
| 31804D0813/00C000 | Flanders | 177 m² | 1 · 103 m² | 10.9 m · 3 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.
Similar companies · same sector, comparable size
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SILENT GLISS BENELUX
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PASSIVE OFFICE BELGIUM
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BUCKENS
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Of 1,501 companies in sector 31004 we hold annual accounts for 626. 181 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-05-2015
Fiscal year end31-12
Activities, NACEBEL 2025
31004Manufacture of dining room, living room, bedroom and bathroom furniture
16281Manufacture of other wood products
31001Manufacture of furniture
31002Manufacture of furniture
31009Manufacture of furniture
46150Agents in the wholesale of furniture, household goods and hardware
47551Retail sale of household furniture
71112Activities of interior architects
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0629951949
Also
9925:BE0629951949
Registered
12-02-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.