RAF+
ActiveSummary
RAF+ has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €19k and a net result of €88k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 17090 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability82▼-6
Solvency27=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days acceptable
Liquidity short (current ratio 0.57 against 0.41 in 2024; short-term debt: 17.1% and cash: 8.8% of total assets), and 97.7% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
2.3%
Return on assets
10.4%
Age of the figures
15 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 17090 sector peers (2025).
NBB · sector comparisonPosition among 17090 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 06-01-2026, 25 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
25 d early
2024
85 d early
2023
69 d early
2022
5 d early
2021
on the day
2020
3 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 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€19k=
2024 · €19k
2020: €56k
2021: €94k▲ +66.9% vs 2020
2022: €117k▲ +25.1% vs 2021highest in 6 years
2023: €83k▼ -29.3% vs 2022
2024: €19k▼ -76.8% vs 2023lowest in 6 years
2025: €19k● 0.0% vs 2024lowest in 6 years
2020 → 2025
Total assets
€841k▼ 9.6%
2024 · €931k
2020: €69klowest in 6 years
2021: €117k▲ +69.2% vs 2020
2022: €433k▲ +270% vs 2021
2023: €481k▲ +11.2% vs 2022
2024: €931k▲ +93.5% vs 2023highest in 6 years
2025: €841k▼ -9.6% vs 2024
2020 → 2025
Net result
€88k▼ 38.0%
2024 · €142k
2020: €37k
2021: €38k▲ +1.6% vs 2020
2022: €24k▼ -37.4% vs 2021lowest in 6 years
2023: €64k▲ +171% vs 2022
2024: €142k▲ +123% vs 2023highest in 6 years
2025: €88k▼ -38.0% vs 2024
2020 → 2025
Working capital
€-61k▲ 63.4%
2024 · €-168k
2020: €58k
2021: €96k▲ +66.3% vs 2020
2022: €119k▲ +23.3% vs 2021highest in 6 years
2023: €33k▼ -72.5% vs 2022
2024: €-168k▼ -616% vs 2023lowest in 6 years
2025: €-61k▲ +63.4% vs 2024
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€94k-€117k▲ 25.1%€83k▼ 29.3%€19k▼ 76.8%€19k=
2021: €94k
2022: €117k▲ +25.1% vs 2021highest in 5 years
2023: €83k▼ -29.3% vs 2022
2024: €19k▼ -76.8% vs 2023lowest in 5 years
2025: €19k● 0.0% vs 2024lowest in 5 years
Operating result€49k-€28k▼ 42.3%€72k▲ 154%€187k▲ 162%€122k▼ 35.0%
2021: €49k
2022: €28k▼ -42.3% vs 2021lowest in 5 years
2023: €72k▲ +154% vs 2022
2024: €187k▲ +162% vs 2023highest in 5 years
2025: €122k▼ -35.0% vs 2024
Net result€38k-€24k▼ 37.4%€64k▲ 171%€142k▲ 123%€88k▼ 38.0%
2021: €38k
2022: €24k▼ -37.4% vs 2021lowest in 5 years
2023: €64k▲ +171% vs 2022
2024: €142k▲ +123% vs 2023highest in 5 years
2025: €88k▼ -38.0% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 35% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €841k
Fixed assets
€759k ▼ 6.8%
Current assets
€82k ▼ 29.5%
Equity and liabilities €841k
Equity
€19k =
Debt
€822k ▼ 9.8%
Debt's share of the balance-sheet total falls from 97.9% to 97.7%. Debt is lower.
Key figures and ratios
EBITDA
€188k▼
2024 · €242k
Cash flow
€154k▼
2024 · €196k
Current ratio
0.57▲
2024 · 0.41
Debt to equity
42.79▼
2024 · 47.46
ROE
457.3%▼
2024 · 738.0%
ROA
10.4%▼
2024 · 15.2%
Interest coverage
88.81▲
2024 · 40.95
Debt ≤ 1 year
€143k▼
2024 · €284k
Debt > 1 year
€669k▲
2024 · €615k
Income taxes
€32k▼
2024 · €44k
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 · 46 lines
Balance sheet
Code20242025
Assets
Total assets20/58€931k€841k▼
Fixed assets21/28€814k€759k▼
Tangible fixed assets22/27€814k€759k▼
Land and buildings22€494k€666k▲
Furniture and vehicles24€123k€93k▼
Assets under construction and advance payments27€198k€0▼
Current assets29/58€116k€82k▼
Amounts receivable within one year40/41€34k€6k▼
Trade receivables40€17k€2k▼
Other amounts receivable41€17k€3k▼
Cash at bank and in hand54/58€80k€74k▼
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€931k€841k▼
Equity10/15€19k€19k=
Contributions10/11€19k€19k=
Reserves13€0-
Distributable reserves133€0-
Profit (loss) carried forward14€0€0=
Amounts payable17/49€911k€822k▼
Amounts payable after more than one year17€615k€669k▲
Financial debts170/4€615k€669k▲
Amounts payable within one year42/48€284k€143k▼
Trade debts44€17k€2k▼
Suppliers440/4€17k€2k▼
Taxes, remuneration and social security45€22k€14k▼
Taxes450/3€22k€14k▼
Other amounts payable47/48€245k€127k▼
Accrued charges and deferred income492/3€12k€9k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€54k€66k▲
Other operating charges640/8€5k€7k▲
Gross operating margin9900€247k€195k▼
Operating profit (loss)9901€187k€122k▼
Financial income75/76B€4k€264▼
Recurring financial income75€4k€264▼
Financial charges65/66B€6k€2k▼
Recurring financial charges65€6k€2k▼
Profit (loss) for the period before taxes9903€186k€120k▼
Income taxes67/77€44k€32k▼
Profit (loss) for the period9904€142k€88k▼
Profit (loss) for the period to be appropriated9905€142k€88k▼
Appropriation of the result
Profit (loss) to be appropriated9906€142k€88k▼
Transfer from equity791/2€64k€0▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€205k€88k▼
Return on contributions (dividend)694€205k€88k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €441 | €559 | €4k | €54k | €66k | ▲ 22.0% |
| Other operating charges640/8 | - | €2k | €2k | €5k | €7k | ▲ 33.4% |
| Gross operating margin9900 | €51k | €31k | €78k | €247k | €195k | ▼ 21.0% |
| Operating profit (loss)9901 | €49k | €28k | €72k | €187k | €122k | ▼ 35.0% |
| Financial income75/76B | - | €6k | €16k | €4k | €264 | ▼ 93.5% |
| Recurring financial income75 | - | €6k | €16k | €4k | €264 | ▼ 93.5% |
| Financial charges65/66B | - | €2k | €6k | €6k | €2k | ▼ 64.1% |
| Recurring financial charges65 | €514 | €2k | €6k | €6k | €2k | ▼ 64.1% |
| Profit (loss) for the period before taxes9903 | €48k | €32k | €82k | €186k | €120k | ▼ 35.3% |
| Income taxes67/77 | €11k | €8k | €18k | €44k | €32k | ▼ 26.6% |
| Profit (loss) for the period9904 | €38k | €24k | €64k | €142k | €88k | ▼ 38.0% |
| Profit (loss) for the period to be appropriated9905 | €38k | €24k | €64k | €142k | €88k | ▼ 38.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €117k | €433k | €481k | €931k | €841k | ▼ 9.6% |
| Fixed assets21/28 | €661 | €3k | €59k | €814k | €759k | ▼ 6.8% |
| Tangible fixed assets22/27 | €661 | €3k | €59k | €814k | €759k | ▼ 6.8% |
| Land and buildings22 | - | - | - | €494k | €666k | ▲ 34.8% |
| Furniture and vehicles24 | - | €3k | €59k | €123k | €93k | ▼ 24.2% |
| Assets under construction and advance payments27 | - | - | - | €198k | €0 | ▼ 100% |
| Current assets29/58 | €116k | €430k | €422k | €116k | €82k | ▼ 29.5% |
| Amounts receivable within one year40/41 | €7k | €411k | €410k | €34k | €6k | ▼ 83.4% |
| Trade receivables40 | - | €11k | €8k | €17k | €2k | ▼ 87.1% |
| Other amounts receivable41 | - | €400k | €402k | €17k | €3k | ▼ 79.8% |
| Cash at bank and in hand54/58 | €109k | €19k | €11k | €80k | €74k | ▼ 8.0% |
| Deferred charges and accrued income490/1 | - | - | €358 | €2k | €3k | ▲ 14.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €117k | €433k | €481k | €931k | €841k | ▼ 9.6% |
| Equity10/15 | €94k | €117k | €83k | €19k | €19k | = |
| Contributions10/11 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €75k | €98k | €64k | €0 | - | - |
| Distributable reserves133 | - | €98k | €64k | €0 | - | - |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €23k | €315k | €398k | €911k | €822k | ▼ 9.8% |
| Amounts payable after more than one year17 | - | - | - | €615k | €669k | ▲ 8.6% |
| Financial debts170/4 | - | - | - | €615k | €669k | ▲ 8.6% |
| Amounts payable within one year42/48 | €20k | €311k | €389k | €284k | €143k | ▼ 49.5% |
| Trade debts44 | €9k | €1k | €2k | €17k | €2k | ▼ 85.8% |
| Suppliers440/4 | - | €1k | €2k | €17k | €2k | ▼ 85.8% |
| Taxes, remuneration and social security45 | - | €10k | €5k | €22k | €14k | ▼ 37.1% |
| Taxes450/3 | - | €10k | €5k | €22k | €14k | ▼ 37.1% |
| Other amounts payable47/48 | - | €300k | €382k | €245k | €127k | ▼ 48.1% |
| Accrued charges and deferred income492/3 | - | €4k | €9k | €12k | €9k | ▼ 18.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38k | €24k | €64k | €142k | €88k | ▼ 38.0% |
| + Depreciation and write-downs630 | €441 | €559 | €4k | €54k | €66k | ▲ 22.0% |
| Operating cash flow (approximation) | €38k | €24k | €68k | €196k | €154k | ▼ 21.4% |
| Investment in fixed assets (approximation) | - | €-3k | €-61k | €-809k | €-11k | ▲ 98.7% |
| Change in cash | - | €-90k | €-7k | €69k | €-6k | ▼ 109% |
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
Next filing, fiscal year 2026, expected by
2026
23-09
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
27-08
State Gazette act
General meeting · Director appointment
Permanent representative · Director resignation
06-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
07-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
30-06
Financial
Highest result since 2020net €142k ▲123%
Operating result €187k, net result €142k, both a record.
2023
23-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
26-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Weakest financial yearnet €24k ▼37.4%
Net result drops to €24k, the lowest in the series; recovery starts the following year.
30-06
Financial
Equity above €100kEq €117k ▲25.1%
3 profitable years in a row build equity to €117k.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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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, Deerlijk · 1 establishment unit since 2019
Ground area
1.4 ha
Building footprint
4,864 m²
Volume, LiDAR
33,869 m³
Parcel 34392C0350/00Y002, Flanders · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
12
companies at this address
See who is registered here
1 establishment unit
Raf+
since 20192.288.456.761
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34392C0350/00Y002 | Flanders | 1.4 ha | 1 · 4,864 m² | 8.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Ownership & control
2 board mandatesBoard mandates of this companythis company sits on their board2
1 location
1 location
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4D Projection
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Of 30,002 companies in sector 62200 we hold annual accounts for 18,390. 12,850 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
Founded28-03-2019
Fiscal year end30-06
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
63920Other information service activities
70200Business and other management consultancy
Contact
E-mail
florence.olivier@blueoak.be
Scores and ratios are computed by Checked and are not a credit decision.