RAETS NAVIGATION

Active

Private limited company (pre-2019)founded 20178 yrs activeBlekkenbergstraat 20, 3570 Alken, BelgiumKBO/BCE: BE 0685.551.557

RAETS NAVIGATION has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €175k and a net result of €-14k. Equity is growing by ~5.9% per year across the filed fiscal years. Its solvency ranks better than 63% of 9039 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).

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Checked score

Score 2024

59 / 100

Fair

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. A confirmed filing finding caps the score. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability63▼-7

Solvency82▲+3

Growth52▼-26

Track record100

Bankruptcy probability, 12 months

0.9% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €10k at 30 days only on tighter terms

Liquidity ample (current ratio 1.66 against 1.68 in 2023; short-term debt: 24.6% and cash: 40.3% of total assets), and 43.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

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 2024

Solvency, return and age of the figures

Solvency

56.8%

Return on assets

-4.5%

Age of the figures

21 mo

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 46

Relative position

BE, all sectors

reference

Sector 46

higher

← fewer bankruptcies more bankruptcies →

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 30-11-2025, 122 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 7 filings

Deviation from the deadline

2025

not confirmed

2024

122 d late

2023

225 d late

2022

153 d late

2021

185 d late

2020

151 d late

2019

516 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€175k▼ 7.3%

2023 · €189k

2018: €120k 2019: €124k 2020: €115k 2021: €182k 2022: €186k 2023: €189k

2018 → 2024

Total assets

€308k▼ 11.6%

2023 · €349k

2018: €574k 2019: €547k 2020: €521k 2021: €389k 2022: €374k 2023: €349k

2018 → 2024

Net result

€-14k

2023 · €2k

2018: €223 2019: €3k 2020: €-9k 2021: €67k 2022: €5k 2023: €2k

2018 → 2024

Working capital

€50k▼ 10.4%

2023 · €56k

2018: €-114k 2019: €-118k 2020: €-116k 2021: €72k 2022: €45k 2023: €56k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€115k-€182k▲ 58.1%€186k▲ 2.7%€189k▲ 1.2%€175k▼ 7.3%

Operating result€410-€91k▲ 22,087%€10k▼ 89.0%€7k▼ 32.3%€-11k

Net result€-9k-€67k€5k▼ 92.5%€2k▼ 55.3%€-14k

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2024: a loss of €11k after €7k in 2023, the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €308k

59.3%

40.7%

Fixed assets €183k▼ 13.4%

Current assets €126k▼ 8.8%

Equity and liabilities €308k

56.8%

43.2%

Equity €175k▼ 7.3%

Debt €133k▼ 16.6%

The debt ratio falls from 45.9% to 43.2%. Equity and debt are lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€17k▼

2023 · €35k

Cash flow

€14k▼

2023 · €30k

Solvency

56.8%▲

2023 · 54.1%

Current ratio

1.66▼

2023 · 1.68

Quick ratio

1.66▼

2023 · 1.68

Debt / equity

0.76▼

2023 · 0.85

ROE

-7.9%▼

2023 · 1.2%

ROA

-4.5%▼

2023 · 0.6%

Interest coverage

6.49▼

2023 · 9.64

Debt

€133k▼

2023 · €160k

Debt ≤ 1 year

€76k▼

2023 · €82k

Debt > 1 year

€58k▼

2023 · €78k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€349k€308k▼

Fixed assets21/28€211k€183k▼

Tangible fixed assets22/27€211k€183k▼

Plant, machinery and equipment23€211k€183k▼

Current assets29/58€138k€126k▼

Amounts receivable within one year40/41€16k€1k▼

Trade receivables40€14k-

Other amounts receivable41€1k€1k▲

Cash at bank and in hand54/58€122k€124k▲

Equity and liabilities

Total equity and liabilities10/49€349k€308k▼

Equity10/15€189k€175k▼

Contributions10/11€120k€120k=

Reserves13€4k€4k=

Non-distributable reserves130/1€4k€4k=

Reserves not available under the articles1311€4k€4k=

Profit (loss) carried forward14€65k€51k▼

Amounts payable17/49€160k€133k▼

Amounts payable after more than one year17€78k€58k▼

Financial debts170/4€78k€58k▼

Amounts payable within one year42/48€82k€76k▼

Current portion of amounts payable after more than one year42€20k€20k=

Trade debts44€7k€121▼

Suppliers440/4€7k€121▼

Taxes, remuneration and social security45€2k€2k▲

Taxes450/3€2k€2k▲

Other amounts payable47/48€53k€53k=

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€28k€28k=

Other operating charges640/8€278€62▼

Gross operating margin9900€35k€17k▼

Operating profit (loss)9901€7k€-11k▼

Financial income75/76B€255-

Recurring financial income75€255-

Financial charges65/66B€4k€3k▼

Recurring financial charges65€4k€3k▼

Profit (loss) for the period before taxes9903€3k€-14k▼

Income taxes67/77€1k-

Profit (loss) for the period9904€2k€-14k▼

Profit (loss) for the period to be appropriated9905€2k€-14k▼

Appropriation of the result

Profit (loss) to be appropriated9906€65k€51k▼

Profit (loss) brought forward from the previous period14P€63k€65k▲

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 11Financial 4Filings 7

2025

30-11

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema · 122 days late

13-03

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema · 225 days late

2024

31-12

Financial Weakest financial yearnet €-14k ▼718%

Net result drops to €-14k, the lowest in the series.

2023

31-12

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema · 153 days late

01-02

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema · 185 days late

2021

31-12

Financial Back to profitnet €67k

Net result €67k after one loss-making year.

31-12

Financial Liquidity times 20current ratio 2.00

Current ratio from 0.10 to 2.00; short-term debt falls from €128k to €72k.

31-12

Financial Equity above €150kEq €182k ▲58.1%

Equity rises from €115k to €182k.

29-12

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema · 151 days late

29-12

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema · 516 days late

2019

31-10

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema · 92 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

1 act for this company is 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, Alken · 1 establishment unit since 2017

establishment The establishment unit on the map

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.

Blekkenbergstraat 203570 Alken

Ground area

2,328 m²

Building footprint

185 m²

Volume, LiDAR

764 m³

Parcel 73001A0071/00C000, Flanders · tallest building 6.9 m, ±1 floor. Linked by address, not a title deed.

1 establishment unit

Raets Navigation

Blekkenbergstraat 20, 3570 AlkenManufacture of computer, electronic and optical products

since 20172.275.417.684

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
73001A0071/00C000	Flanders	2,328 m²	1 · 185 m²	6.9 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

Of 1,565 companies in sector 46900 we hold annual accounts for 920. 645 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company (pre-2019)

Founded01-12-2017

Fiscal year end31-12

Abbreviation NL RNAV

Activities, NACEBEL

46900Non-specialised wholesale trade

77350Rental and leasing activities

Sources

Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers

Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.