RAFA · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of RAFA is 2.1% (moderate). The 2025 annual accounts show equity of €91k and a net result of €18k. Equity is growing by ~29.8% per year across the filed fiscal years. Its solvency ranks better than 73% of 6722 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Signals

2 signals · with evidence

Consistently profitable

Positive net result in the two most recent financial years (2023 and 2024).

View the result trend

Growing equity

Equity grew over 2022-2024. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 4 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	27-08-2026	27 d late	2026-00471909
31-12-2024	31-07-2025	30-08-2025	30 d late	2025-00474876
31-12-2023	31-07-2024	21-08-2024	21 d late	2024-00365634
31-12-2022	31-07-2023	30-08-2023	30 d late	2023-00416107

Source: the National Bank's deposit records, as we have ingested them. NOTE: our copy has a gap across June to August 2026, missing roughly 220,000 deposits; for July we hold 15,605 of about 137,000 expected. A year whose deadline falls in that window shows as not confirmed, not as not filed. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

2.1% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (micro schema)

EBIT marginNot published (micro schema)

Net result€18k+31.0%

Working capital€87k+40.8%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 27-08-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~29.8%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 47, Retail trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	45.9%	20.4%	better than 73% of 6722 sector peers
Net result	€14k	€4k	better than 67% of 6703 sector peers
Equity	€73k	€16k	better than 80% of 6737 sector peers
Gross operating margin	€86k	€24k	better than 78% of 6682 sector peers
Staff costs	€29k	€33k	higher than 46% of 3049 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P73

Improving position over 2022-2024 · n=4418-6722

Net result P67

Weakening position over 2022-2024 · n=4402-6703

Equity P80

Improving position over 2022-2024 · n=4427-6737

Gross operating margin P78

Stable position over 2022-2024 · n=4392-6682

Describes the position versus peers, not a forecast.

EBITDA

€47k

+27.5% 22-25

Net profit

€18k

+31.0% 22-25

Cash flow

€38k

+28.2% 22-25

Total assets

€150k

-5.6% 22-25

Equity

€91k

+24.4% 22-25

Working capital

€87k

+40.8% 22-25

Employees (FTE)

2

+60.0% 22-25

Staff costs

€33k

+15.1% 22-25

Show 11 other metrics

Income taxes

€5k

+5.9% 22-25

Debt

€59k

-31.0% 22-25

Debt ≤ 1y

€17k

-48.2% 22-25

Debt > 1y

€18k

-40.0% 22-25

Current ratio

6.08

+112.0% 22-25

Quick ratio

6.02

+112.3% 22-25

Solvency

60.5%

+31.7% 22-25

Debt / equity

0.65

-44.6% 22-25

ROE

19.6%

+5.3% 22-25

ROA

11.9%

+38.7% 22-25

Interest coverage

10.89

-17.4% 22-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro schema
Revenue	-
EBITDA	€47k
Net profit	€18k
Cash flow	€38k
Staff costs	€33k
Income taxes	€5k
Dividends	-
Total assets	€150k
Equity	€91k
Debt	€59k
of which ≤ 1y	€17k
of which > 1y	€18k
Working capital	€87k
Employees (FTE)	1.6

Ratios (computed)

	2025
Current ratio	6.08
Quick ratio	6.02
Working capital ratio	58.1%
Solvency	60.5%
Debt / equity	0.65
Long-term debt ratio	0.20
Interest coverage	10.89
Gross margin	-
Net margin	-
ROA	11.9%
ROE	19.6%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €46k · 30.4% Current assets €105k · 69.6%

Equity & liabilities

Equity €91k · 60.5% Debt €59k · 39.5%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€150k
Fixed assets	21/28	€46k
Tangible fixed assets	22/27	€46k
Current assets	29/58	€105k
Stocks & contracts in progress	3	€1k
Amounts receivable within one year	40/41	€9k
Cash & bank	54/58	€94k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€150k
Equity	10/15	€91k
Contributions / capital	10/11	€3k
Reserves	13	€10k
Accumulated profits (losses)	14	€78k
Amounts payable	17/49	€59k
Amounts payable after one year	17	€18k
Amounts payable within one year	42/48	€17k
Trade debts payable within one year	44	€2k
Income statement
Gross operating margin	9900	€81k
Operating result	9901	€27k
Financial income	75	€27
Financial charges	65	€4k
Result before taxes	9903	€23k
Income taxes	67/77	€5k
Net result for the period	9904	€18k
Result to be appropriated	9905	€18k

This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

100 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

Establishment units

1 location

Grand'Route 67, 1435 Mont-Saint-Guibert

Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden

since 20212.322.007.873

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels2

Ground area1,792 m²

Buildings2

Building footprint367 m²

Volume (LiDAR)2,236 m³

Tallest building11.0 m · ±2 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
25018C0100/00G002	Wallonia	1,172 m²	1 · 170 m²	6.2 m · 2 fl.
25020A0287/00Y002	Wallonia	621 m²	1 · 196 m²	11.0 m · 2 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

0 of 1 acts read

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.

Have them read with priority Sign in to place this company at the front of the reading queue.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Financial profile

5 of 5 axes measured

89 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 98

Solvency 99

Growth 52

Stability 94

Credit advice

verdict per customer and amount

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We hold annual accounts for 246 of the 3,839 companies in this sector. 196 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Detailhandel in groenten en fruit47210Eetgelegenheden met beperkte bediening56102Activiteiten van eetgelegenheden met beperkte bediening, muv mobiele eetgelegenheden56112

Primary activity highlighted.

Names & trade names

Legal nameFR

RAFA

Registered office

Rue de la Vallée 10 bus A

1325 Chaumont-Gistoux, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.