RAES
ActiveFinancials · financial year 2023, micro format
2024 annual accounts not yet filed, deadline passed on 31 July 2025 The financial year closed on 31 December 2024. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 3 November 2026.
Annual accounts 2023 filed on 11-07-2024 PDF all 20 filings
Turnover
≈ €34,000
Estimated: probably between €17,000 and €70,000
Total assets
€28,988▼ 7.8%
2022 · €31,447
Net result
-€1,588▲ 68.9%
2022 · -€5,104
Working capital
€10,504▼ 47.1%
2022 · €19,870
Multi-year overview
2018 to 2023, 6 financial yearsOperating result
-€1,267
▲ 74.1%
2023
20182023
Net result
-€1,588
▲ 68.9%
2023
middle half of the sector
20182023
Equity
€24,058
▼ 6.2%
2023
middle half of the sector
20182023
Total assets
€28,988
▼ 7.8%
2023
lowest quarter of the sector
20182023
Debt
€4,930
▼ 15.0%
2023
20182023
Working capital
€10,504
▼ 47.1%
2023
middle half of the sector
20182023
Solvency
83.0%
▲ 1.4pp
2023
highest quarter of the sector
20182023
Current ratio
3.13
▼ 1.29
2023
highest quarter of the sector
20182023
Return on assets (ROA)
-5.5%
▲ 10.8pp
2023
middle half of the sector
20182023
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Operating result€15,743--€792-€3,225▼ 307%€4,361-€4,896-€1,267▲ 74.1%
Net result€10,698--€1,141-€3,274within the sector's middle half▼ 187%€4,239within the sector's middle half-€5,104within the sector's middle half-€1,588within the sector's middle half▲ 68.9%
Equity€30,925-€29,784▼ 3.7%€26,511within the sector's middle half▼ 11.0%€30,750within the sector's middle half▲ 16.0%€25,646within the sector's middle half▼ 16.6%€24,058within the sector's middle half▼ 6.2%
Total assets€49,772-€45,641▼ 8.3%€27,599below the sector's middle half▼ 39.5%€34,371below the sector's middle half▲ 24.5%€31,447below the sector's middle half▼ 8.5%€28,988below the sector's middle half▼ 7.8%
Debt€18,847-€15,856▼ 15.9%€1,088▼ 93.1%€3,622▲ 233%€5,802▲ 60.2%€4,930▼ 15.0%
Working capital€26,692-€23,796▼ 10.8%€18,168within the sector's middle half▼ 23.6%€23,114within the sector's middle half▲ 27.2%€19,870within the sector's middle half▼ 14.0%€10,504within the sector's middle half▼ 47.1%
Solvency62.1%-65.3%▲ 3.1pp96.1%above the sector's middle half▲ 30.8pp89.5%above the sector's middle half▼ 6.6pp81.6%above the sector's middle half▼ 7.9pp83.0%above the sector's middle half▲ 1.4pp
Current ratio3.08-2.80▼ 0.2817.70above the sector's middle half▲ 14.907.38above the sector's middle half▼ 10.324.42above the sector's middle half▼ 2.963.13above the sector's middle half▼ 1.29
Return on assets (ROA)21.5%--2.5%▼ 24.0pp-11.9%below the sector's middle half▼ 9.4pp12.3%within the sector's middle half▲ 24.2pp-16.2%below the sector's middle half▼ 28.6pp-5.5%within the sector's middle half▲ 10.8pp
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2023 is a loss of €1,267, smaller than the loss of €4,896 in 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €28,988
Fixed assets
€13,554 ▲ 135%
Current assets
€15,434 ▼ 39.9%
Equity and liabilities €28,988
Equity
€24,058 ▼ 6.2%
Debt
€4,930 ▼ 15.0%
Debt's share of the balance-sheet total falls from 18.4% to 17.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€2,003▲
2022 · -€1,697
Cash flow
€1,682▲
2022 · -€1,905
Quick ratio
2.21▼
2022 · 3.39
Debt to equity
0.20▼
2022 · 0.23
ROE
-6.6%▲
2022 · -19.9%
Interest coverage
6.24▲
2022 · -6.34
Debt ≤ 1 year
€4,930▼
2022 · €5,802
Staff costs
-€69▼
2022 · €3,698
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €2,360 | €1,356 | €11,048 |
| Depreciation and write-downs of the year | €3,057 | €3,199 | €3,270 |
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €5,435 | €3,698 | -€69 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,846 | €5,001 | €2,859 | €3,057 | €3,199 | €3,270 | ▲ 2.2% |
| Other operating charges640/8 | - | - | - | €2,737 | €850 | €1,267 | ▲ 49.1% |
| Gross operating margin9900 | €40,750 | €18,237 | €7,702 | €15,590 | €2,851 | €3,202 | ▲ 12.3% |
| Operating profit (loss)9901 | €15,743 | -€792 | -€3,225 | €4,361 | -€4,896 | -€1,267 | ▲ 74.1% |
| Financial income75/76B | - | - | - | €44 | €59 | - | - |
| Recurring financial income75 | €165 | €79 | €77 | €44 | €59 | - | - |
| Financial charges65/66B | - | - | - | €166 | €268 | €321 | ▲ 20.0% |
| Recurring financial charges65 | €280 | €428 | €126 | €166 | €268 | €321 | ▲ 20.0% |
| Profit (loss) for the period before taxes9903 | €15,628 | -€1,141 | -€3,274 | €4,239 | -€5,104 | -€1,588 | ▲ 68.9% |
| Income taxes67/77 | €4,930 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €10,698 | -€1,141 | -€3,274 | €4,239 | -€5,104 | -€1,588 | ▲ 68.9% |
| Profit (loss) for the period to be appropriated9905 | €10,698 | -€1,141 | -€3,274 | €4,239 | -€5,104 | -€1,588 | ▲ 68.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €49,772 | €45,641 | €27,599 | €34,371 | €31,447 | €28,988 | ▼ 7.8% |
| Fixed assets21/28 | €10,263 | €8,610 | €8,342 | €7,636 | €5,776 | €13,554 | ▲ 135% |
| Tangible fixed assets22/27 | €10,070 | €8,505 | €8,316 | €7,619 | €5,776 | €13,554 | ▲ 135% |
| Land and buildings22 | - | - | - | €1,576 | €1,016 | €10,860 | ▲ 969% |
| Plant, machinery and equipment23 | - | - | - | €4,264 | €3,543 | €2,040 | ▼ 42.4% |
| Furniture and vehicles24 | - | - | - | €1,778 | €1,217 | €655 | ▼ 46.2% |
| Financial fixed assets28 | €193 | €105 | €27 | €17 | - | - | - |
| Current assets29/58 | €39,509 | €37,031 | €19,257 | €26,736 | €25,672 | €15,434 | ▼ 39.9% |
| Stocks and contracts in progress3 | €6,471 | €7,539 | €6,475 | €6,021 | €5,998 | €4,538 | ▼ 24.3% |
| Stocks30/36 | - | - | - | €6,021 | €5,998 | €4,538 | ▼ 24.3% |
| Amounts receivable within one year40/41 | €5,903 | €977 | €5,860 | €5,276 | €4,452 | €5,798 | ▲ 30.2% |
| Trade receivables40 | - | - | - | - | - | €2,322 | - |
| Other amounts receivable41 | - | - | - | €5,276 | €4,452 | €3,476 | ▼ 21.9% |
| Cash at bank and in hand54/58 | €27,135 | €24,198 | €6,396 | €14,957 | €14,972 | €4,440 | ▼ 70.3% |
| Deferred charges and accrued income490/1 | - | - | - | €482 | €250 | €659 | ▲ 163% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €49,772 | €45,641 | €27,599 | €34,371 | €31,447 | €28,988 | ▼ 7.8% |
| Equity10/15 | €30,925 | €29,784 | €26,511 | €30,750 | €25,646 | €24,058 | ▼ 6.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €12,558 | €11,418 | €11,418 | €12,150 | €12,150 | €12,150 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | - | - | €10,290 | €10,290 | €12,150 | ▲ 18.1% |
| Profit (loss) carried forward14 | -€233 | -€233 | -€3,507 | - | -€5,104 | -€6,692 | ▼ 31.1% |
| Amounts payable17/49 | €18,847 | €15,856 | €1,088 | €3,622 | €5,802 | €4,930 | ▼ 15.0% |
| Amounts payable after more than one year17 | €1,053 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €12,817 | €13,234 | €1,088 | €3,622 | €5,802 | €4,930 | ▼ 15.0% |
| Trade debts44 | €5,935 | €7,071 | €1,088 | €3,622 | €5,802 | €4,742 | ▼ 18.3% |
| Suppliers440/4 | - | - | - | €3,622 | €5,802 | €4,742 | ▼ 18.3% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €173 | - |
| Taxes450/3 | - | - | - | - | - | €173 | - |
| Other amounts payable47/48 | - | - | - | - | - | €15 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,698 | -€1,141 | -€3,274 | €4,239 | -€5,104 | -€1,588 | ▲ 68.9% |
| + Depreciation and write-downs630 | €4,846 | €5,001 | €2,859 | €3,057 | €3,199 | €3,270 | ▲ 2.2% |
| Operating cash flow (approximation) | €15,544 | €3,861 | -€414 | €7,296 | -€1,905 | €1,682 | - |
| Investment in fixed assets (approximation) | - | -€3,349 | -€2,592 | -€2,350 | -€1,339 | -€11,048 | ▼ 725% |
| Change in cash | - | -€2,937 | -€17,802 | €8,561 | €15 | -€10,532 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2023 | micro format | 11-07-2024 | 2024-00234463 | |
| 31-12-2022 | micro format | 04-07-2023 | 2023-00207504 | |
| 31-12-2021 | micro format | 03-06-2022 | 2022-20045744 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64200405 | |
| 31-12-2019 | micro format | 19-08-2020 | 2020-42900165 | |
| 31-12-2018 | micro format | 04-06-2019 | 2019-16200293 | |
| 31-12-2017 | micro format | 23-08-2018 | 2018-49100210 | |
| 31-12-2016 | micro format | 25-08-2017 | 2017-49500082 | |
| 31-12-2015 | abbreviated format | 25-08-2016 | 2016-48400412 | |
| 31-12-2014 | abbreviated format | 13-07-2015 | 2015-30500091 |