Raes Construct
ActiveSummary
Raes Construct has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.99M and a net result of €1.44M. Equity is growing by ~2.9% per year across the filed fiscal years. Its solvency ranks better than 41% of 2198 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
64
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability95▼-5
Solvency54▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120k at 30 days acceptable
Liquidity tight (current ratio 1.34 against 1.29 in 2024; short-term debt: 70.6% and cash: 5.7% of total assets), and 70.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 41
Relative position
BE, all sectors
reference
Sector 41
higher
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
29.4%
Return on assets
21.2%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 01-10-2025, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
51 d early
2023
25 d early
2022
17 d early
2021
18 d early
2020
9 d early
2019
2 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.99M▲ 13.4%
2024 · €1.76M
2019: €1.57M
2020: €1.61M
2021: €1.56M
2022: €1.99M
2023: €1.64M
2024: €1.76M
2019 → 2025
Total assets
€6.77M▲ 8.1%
2024 · €6.26M
2019: €2.71M
2020: €2.59M
2021: €2.72M
2022: €3.28M
2023: €3.64M
2024: €6.26M
2019 → 2025
Net result
€1.44M▼ 11.4%
2024 · €1.62M
2019: €133k
2020: €147k
2021: €346k
2022: €426k
2023: €550k
2024: €1.62M
2019 → 2025
Working capital
€1.60M▲ 21.4%
2024 · €1.32M
2019: €1.50M
2020: €1.50M
2021: €1.44M
2022: €1.83M
2023: €1.53M
2024: €1.32M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.56M-€1.99M▲ 27.3%€1.64M▼ 17.6%€1.76M▲ 7.3%€1.99M▲ 13.4%
Operating result€348k-€408k▲ 17.4%€622k▲ 52.3%€2.00M▲ 221%€1.68M▼ 16.0%
Net result€346k-€426k▲ 23.1%€550k▲ 29.1%€1.62M▲ 194%€1.44M▼ 11.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 16% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.77M
Fixed assets
€390k ▼ 10.9%
Current assets
€6.38M ▲ 9.6%
Equity and liabilities €6.77M
Equity
€1.99M ▲ 13.4%
Debt
€4.77M ▲ 6.1%
Debt's share of the balance-sheet total falls from 71.9% to 70.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.74M▼
2024 · €2.05M
Cash flow
€1.50M▼
2024 · €1.67M
Current ratio
1.34▲
2024 · 1.29
Quick ratio
1.32▲
2024 · 1.28
Debt to equity
2.40▼
2024 · 2.56
ROE
72.0%▼
2024 · 92.2%
ROA
21.2%▼
2024 · 25.9%
Interest coverage
353.20▲
2024 · 112.44
Debt ≤ 1 year
€4.77M▲
2024 · €4.50M
Income taxes
€490k▼
2024 · €572k
Staff costs
€1.84M▲
2024 · €1.81M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines
Balance sheet
Code20242025
Assets
Total assets20/58€6.26M€6.77M▲
Fixed assets21/28€438k€390k▼
Intangible fixed assets21-€7k
Tangible fixed assets22/27€412k€350k▼
Land and buildings22€237k€230k▼
Plant, machinery and equipment23€77k€51k▼
Furniture and vehicles24€98k€69k▼
Financial fixed assets28€26k€33k▲
Current assets29/58€5.82M€6.38M▲
Stocks and contracts in progress3€64k€71k▲
Stocks30/36€64k€71k▲
Amounts receivable within one year40/41€4.81M€5.92M▲
Trade receivables40€4.21M€5.07M▲
Other amounts receivable41€604k€851k▲
Current investments50/53€700k€0▼
Cash at bank and in hand54/58€235k€387k▲
Deferred charges and accrued income490/1€7k€2k▼
Equity and liabilities
Total equity and liabilities10/49€6.26M€6.77M▲
Equity10/15€1.76M€1.99M▲
Contributions10/11€75k€75k=
Capital10€75k€75k=
Issued capital100€75k€75k=
Reserves13€1.68M€1.92M▲
Non-distributable reserves130/1€8k€8k=
Legal reserve130€8k€8k=
Distributable reserves133€1.67M€1.91M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€4.50M€4.77M▲
Amounts payable within one year42/48€4.50M€4.77M▲
Trade debts44€2.76M€3.41M▲
Suppliers440/4€2.76M€3.41M▲
Taxes, remuneration and social security45€241k€164k▼
Taxes450/3€73k€9k▼
Remuneration and social security454/9€169k€155k▼
Other amounts payable47/48€1.50M€1.20M▼
Income statement
Code20242025
Non-recurring operating income76A€250€0▼
Remuneration, social security and pensions62€1.81M€1.84M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€50k€62k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-7k€-8k▼
Other operating charges640/8€10k€8k▼
Non-recurring operating charges66A€3k€0▼
Gross operating margin9900€3.87M€3.58M▼
Operating profit (loss)9901€2.00M€1.68M▼
Financial income75/76B€213k€253k▲
Recurring financial income75€213k€253k▲
Financial charges65/66B€18k€5k▼
Recurring financial charges65€18k€5k▼
Profit (loss) for the period before taxes9903€2.19M€1.93M▼
Income taxes67/77€572k€490k▼
Profit (loss) for the period9904€1.62M€1.44M▼
Profit (loss) for the period to be appropriated9905€1.62M€1.44M▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.62M€1.44M▼
Transfer from equity791/2€0-
Transfer to equity691/2€120k€235k▲
To other reserves6921€120k€235k▲
Profit to be distributed694/7€1.50M€1.20M▼
Return on contributions (dividend)694€1.50M€1.20M▼
Social balance
Average headcount (FTE)908721.522.3▲
The notes to these accounts (13 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
2025
01-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
10-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
31-03
Financial
Highest result since 2019net €1.62M ▲194%
Operating result €2.00M, net result €1.62M, both a record.
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
14-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
13-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
22-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
10-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
19-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
28-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Wevelgem · 1 establishment unit since 1998
Ground area
1,450 m²
Building footprint
255 m²
Volume, LiDAR
1,533 m³
Parcel 34012C0208/00G003, Flanders · tallest building 10.6 m, ±2 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Vlaskapelstraat 6, 8560 Wevelgem
since 19982.086.184.839
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34012C0208/00G003 | Flanders | 1,450 m² | 1 · 255 m² | 10.6 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 5 entries · 16,333 EUR awarded · 16,425 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 7,485 EUR | 7,485 EUR |
| 2024 | 1 | 2,644 EUR | 2,422 EUR |
| 2023 | 1 | 750 EUR | 2,721 EUR |
| 2022 | 1 | 5,454 EUR | 3,797 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Premie voor archeologisch vooronderzoek met ingreep in de bodem
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VAN LOY EN CIE. ALGEMENE RESTAURATIEWERKEN
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INDUSTRIAL CONSTRUCTION SERVICES
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Of 2,451 companies in sector 41003 we hold annual accounts for 1,055. 412 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-02-1998
Fiscal year end31-03
Activities, NACEBEL 2025
41003General construction of other non-residential buildings
41001General construction of residential buildings
43310Plastering work
43320Joinery installation
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.