RAES
ActiveThe computed 12-month bankruptcy probability of RAES is 2.3% (moderate). The 2023 annual accounts show equity of €24k and a net result of €-2k. Equity is shrinking by ~4.9% per year across the filed fiscal years. Its solvency ranks better than 93% of 18023 sector peers (fiscal year 2023). The company has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2023
78
/ 100
Excellent▲ +26 vs 2022
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2022
Profitability0=
Solvency100=
Growth32=
Stability100
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days only on tighter terms
Liquidity ample (current ratio 3.13 against 4.42 in 2022), and 17% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Sector 56
higher
← fewer bankruptcies
more bankruptcies →
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 2023Solvency, return and age of the figures
Solvency
83%
Return on assets
-5.5%
Age of the figures
32 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 · Persistent losses
Two consecutive loss-making years (2022 and 2023); equity fell accordingly. May indicate structural pressure on profitability.
NBB · annual accounts 2023Net result per financial year
181920212223
2018 to 2023 · latest year -€2k
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline12-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 11-07-2024, 20 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
20 d early
2022
27 d early
2021
58 d early
2020
31 d late
2019
19 d late
← before the deadline
after the deadline →
Financials · fiscal year 2023, micro schema
Equity
€24k▼ 6.2%
2022 · €26k
2018: €31k
2019: €30k
2020: €27k
2021: €31k
2022: €26k
2018 → 2023
Total assets
€29k▼ 7.8%
2022 · €31k
2018: €50k
2019: €46k
2020: €28k
2021: €34k
2022: €31k
2018 → 2023
Net result
€-2k▲ 68.9%
2022 · €-5k
2018: €11k
2019: €-1k
2020: €-3k
2021: €4k
2022: €-5k
2018 → 2023
Working capital
€11k▼ 47.1%
2022 · €20k
2018: €27k
2019: €24k
2020: €18k
2021: €23k
2022: €20k
2018 → 2023
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222023Trend
Equity€30k-€27k▼ 11.0%€31k▲ 16.0%€26k▼ 16.6%€24k▼ 6.2%
Operating result€-792-€-3k▼ 307%€4k€-5k€-1k▲ 74.1%
Net result€-1k-€-3k▼ 187%€4k€-5k€-2k▲ 68.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1k in 2023 against €5k in 2022; the loss shrinks.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €29k
Fixed assets
€14k▲ 135%
Current assets
€15k▼ 39.9%
Equity and liabilities €29k
Equity
€24k▼ 6.2%
Debt
€5k▼ 15.0%
The debt ratio falls from 18.4% to 17.0%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€2k▲
2022 · €-2k
Cash flow
€2k▲
2022 · €-2k
Solvency
83.0%▲
2022 · 81.6%
Current ratio
3.13▼
2022 · 4.42
Quick ratio
2.21▼
2022 · 3.39
Debt / equity
0.20▼
2022 · 0.23
ROE
-6.6%▲
2022 · -19.9%
ROA
-5.5%▲
2022 · -16.2%
Interest coverage
6.24▲
2022 · -6.34
Debt
€5k▼
2022 · €6k
Debt ≤ 1 year
€5k▼
2022 · €6k
Staff costs
€-69▼
2022 · €4k
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 · 2023 against 2022
Balance sheet
Code20222023
Assets
Total assets20/58€31k€29k▼
Fixed assets21/28€6k€14k▲
Tangible fixed assets22/27€6k€14k▲
Land and buildings22€1k€11k▲
Plant, machinery and equipment23€4k€2k▼
Furniture and vehicles24€1k€655▼
Current assets29/58€26k€15k▼
Stocks and contracts in progress3€6k€5k▼
Stocks30/36€6k€5k▼
Amounts receivable within one year40/41€4k€6k▲
Trade receivables40-€2k
Other amounts receivable41€4k€3k▼
Cash at bank and in hand54/58€15k€4k▼
Deferred charges and accrued income490/1€250€659▲
Equity and liabilities
Total equity and liabilities10/49€31k€29k▼
Equity10/15€26k€24k▼
Contributions10/11€19k€19k=
Reserves13€12k€12k=
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Distributable reserves133€10k€12k▲
Profit (loss) carried forward14€-5k€-7k▼
Amounts payable17/49€6k€5k▼
Amounts payable within one year42/48€6k€5k▼
Trade debts44€6k€5k▼
Suppliers440/4€6k€5k▼
Taxes, remuneration and social security45-€173
Taxes450/3-€173
Other amounts payable47/48-€15
Income statement
Code20222023
Remuneration, social security and pensions62€4k€-69▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3k€3k▲
Other operating charges640/8€850€1k▲
Gross operating margin9900€3k€3k▲
Operating profit (loss)9901€-5k€-1k▲
Financial income75/76B€59-
Recurring financial income75€59-
Financial charges65/66B€268€321▲
Recurring financial charges65€268€321▲
Profit (loss) for the period before taxes9903€-5k€-2k▲
Profit (loss) for the period9904€-5k€-2k▲
Profit (loss) for the period to be appropriated9905€-5k€-2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-5k€-7k▼
Profit (loss) brought forward from the previous period14P-€-5k
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
2024
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-5k ▼220%
Net result drops to €-5k, the lowest in the series; recovery starts the following year.
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €4k
Net result €4k after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Liquidity times 6current ratio 17.70
Current ratio from 2.80 to 17.70; short-term debt falls from €13k to €1k.
19-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 19 days late
2019
04-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 23 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
2016
25-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 25 days late
2015
13-07
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 directors, no change since 2024
Naomi Nsangu
CurrentDirector · since 13-08-2024
13-08-2024
Naomi Nsangu: Appointed as Director
13-08-2024
Stefaan RAES: Resigned as Managing director
07-04-2023
Stefaan RAES: Resigned as Manager
07-04-2023
Stefaan RAES: Appointed as Non-statutory director
Location & real-estate footprint
Registered office, Zottegem · 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.
Heldenlaan 429620 ZottegemGround area
438 m²
Building footprint
186 m²
Volume, LiDAR
2,239 m³
Parcel 41081A0108/00C000, Flanders · tallest building 18.9 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
RAES
since 20032.132.875.887
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41081A0108/00C000 | Flanders | 438 m² | 1 · 186 m² | 18.9 m · 5 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.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Similar companies · same sector, comparable size
AVR
BE 1006.287.403
Sint-Martens-Latem · Eq €24k
LYBO
BE 0877.801.203
Hulshout · Eq €24k
MOMS FOOD
BE 0653.779.505
Sint-Pieters-Leeuw · Eq €24k
LEAMAR
BE 0772.298.855
La Louvière · Eq €24k
Villa Scaldis
BE 1018.390.726
Spiere-Helkijn · Eq €24k
Of 20,234 companies in sector 56111 we hold annual accounts for 11,309. 8,999 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded30-06-2003
Fiscal year end31-12
Activities, NACEBEL
55301
56101Full-service restaurants
56111Full-service restaurants
Sources
Crossroads Bank for EnterprisesNational Bank · 20 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.