RAFFI'OR
ActiveSummary
RAFFI'OR has been active since 1997 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €78k and a net result of €8k. Equity is growing by ~12.3% per year across the filed fiscal years. Its solvency ranks better than 91% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+3
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 5.47 against 5.67 in 2024; short-term debt: 15% and cash: 15.9% of total assets), and 15% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
85%
Return on assets
8.8%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
65 d early
2023
40 d early
2022
124 d early
2021
58 d early
2020
40 d early
2019
63 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€78k▲ 11.6%
2024 · €70k
2018: €30klowest in 8 years
2019: €37k▲ +23.7% vs 2018
2020: €45k▲ +22.9% vs 2019
2021: €51k▲ +11.8% vs 2020
2022: €61k▲ +20.4% vs 2021
2023: €64k▲ +5.0% vs 2022
2024: €70k▲ +9.2% vs 2023
2025: €78k▲ +11.6% vs 2024highest in 8 years
2018 → 2025
Total assets
€92k▼ 0.1%
2024 · €92k
2018: €67k
2019: €62k▼ -7.1% vs 2018
2020: €58k▼ -6.4% vs 2019lowest in 8 years
2021: €58k▲ +0.1% vs 2020
2022: €67k▲ +14.7% vs 2021
2023: €96k▲ +43.7% vs 2022highest in 8 years
2024: €92k▼ -4.7% vs 2023
2025: €92k▼ -0.1% vs 2024
2018 → 2025
Net result
€8k▲ 37.7%
2024 · €6k
2018: €4k
2019: €7k▲ +73.3% vs 2018
2020: €8k▲ +19.3% vs 2019
2021: €5k▼ -36.8% vs 2020
2022: €10k▲ +94.0% vs 2021highest in 8 years
2023: €3k▼ -70.8% vs 2022lowest in 8 years
2024: €6k▲ +95.0% vs 2023
2025: €8k▲ +37.7% vs 2024
2018 → 2025
Working capital
€62k▲ 2.6%
2024 · €60k
2018: €40k
2019: €33k▼ -16.8% vs 2018lowest in 8 years
2020: €43k▲ +29.3% vs 2019
2021: €49k▲ +13.9% vs 2020
2022: €60k▲ +22.4% vs 2021
2023: €72k▲ +20.1% vs 2022highest in 8 years
2024: €60k▼ -17.1% vs 2023
2025: €62k▲ +2.6% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€51k-€61k▲ 20.4%€64k▲ 5.0%€70k▲ 9.2%€78k▲ 11.6%
2021: €51klowest in 5 years
2022: €61k▲ +20.4% vs 2021
2023: €64k▲ +5.0% vs 2022
2024: €70k▲ +9.2% vs 2023
2025: €78k▲ +11.6% vs 2024highest in 5 years
Operating result€8k-€14k▲ 72.7%€5k▼ 62.1%€10k▲ 75.8%€13k▲ 30.4%
2021: €8k
2022: €14k▲ +72.7% vs 2021highest in 5 years
2023: €5k▼ -62.1% vs 2022lowest in 5 years
2024: €10k▲ +75.8% vs 2023
2025: €13k▲ +30.4% vs 2024
Net result€5k-€10k▲ 94.0%€3k▼ 70.8%€6k▲ 95.0%€8k▲ 37.7%
2021: €5k
2022: €10k▲ +94.0% vs 2021highest in 5 years
2023: €3k▼ -70.8% vs 2022lowest in 5 years
2024: €6k▲ +95.0% vs 2023
2025: €8k▲ +37.7% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 30% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €92k
Fixed assets
€16k ▼ 13.7%
Current assets
€75k ▲ 3.4%
Equity and liabilities €92k
Equity
€78k ▲ 11.6%
Debt
€14k ▼ 37.4%
Debt's share of the balance-sheet total falls from 23.9% to 15.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€17k▲
2024 · €14k
Cash flow
€13k▲
2024 · €10k
Current ratio
5.47▼
2024 · 5.67
Quick ratio
1.21▼
2024 · 1.59
Debt to equity
0.18▼
2024 · 0.31
ROE
10.4%▲
2024 · 8.4%
ROA
8.8%▲
2024 · 6.4%
Interest coverage
13.87▲
2024 · 8.52
Debt ≤ 1 year
€14k▲
2024 · €13k
Income taxes
€3k▲
2024 · €2k
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€92k€92k▼
Fixed assets21/28€19k€16k▼
Tangible fixed assets22/27€18k€14k▼
Plant, machinery and equipment23€15k€11k▼
Furniture and vehicles24€2k€2k▼
Other tangible fixed assets26€1k€852▼
Financial fixed assets28€750€3k▲
Current assets29/58€73k€75k▲
Stocks and contracts in progress3€53k€59k▲
Stocks30/36€53k€59k▲
Amounts receivable within one year40/41€11k€2k▼
Trade receivables40€9k€2k▼
Other amounts receivable41€2k€150▼
Cash at bank and in hand54/58€9k€15k▲
Deferred charges and accrued income490/1€56€58▲
Equity and liabilities
Total equity and liabilities10/49€92k€92k▼
Equity10/15€70k€78k▲
Contributions10/11€19k€19k=
Reserves13€51k€59k▲
Distributable reserves133€51k€59k▲
Profit (loss) carried forward14€163€179▲
Amounts payable17/49€22k€14k▼
Amounts payable after more than one year17€9k-
Financial debts170/4€9k-
Amounts payable within one year42/48€13k€14k▲
Current portion of amounts payable after more than one year42€9k€9k▲
Trade debts44€1k€603▼
Suppliers440/4€1k€603▼
Taxes, remuneration and social security45€3k€4k▲
Taxes450/3€3k€4k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€5k▲
Other operating charges640/8€569€866▲
Gross operating margin9900€14k€18k▲
Operating profit (loss)9901€10k€13k▲
Financial income75/76B€0€1▲
Recurring financial income75€0€1▲
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€8k€11k▲
Income taxes67/77€2k€3k▲
Profit (loss) for the period9904€6k€8k▲
Profit (loss) for the period to be appropriated9905€6k€8k▲
Appropriation of the result
Profit (loss) to be appropriated9906€8k€8k▲
Profit (loss) brought forward from the previous period14P€2k€163▼
Transfer to equity691/2€7k€8k▲
To other reserves6921€7k€8k▲
The notes to these accounts (7 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 | €667 | €667 | €661 | €4k | €5k | ▲ 9.0% |
| Other operating charges640/8 | €503 | €507 | €770 | €569 | €866 | ▲ 52.2% |
| Gross operating margin9900 | €10k | €16k | €7k | €14k | €18k | ▲ 25.0% |
| Operating profit (loss)9901 | €8k | €14k | €5k | €10k | €13k | ▲ 30.4% |
| Financial income75/76B | €0 | - | €1 | €0 | €1 | ▲ 4,900% |
| Recurring financial income75 | €0 | - | €1 | €0 | €1 | ▲ 4,900% |
| Financial charges65/66B | €866 | €111 | €1k | €2k | €1k | ▼ 23.9% |
| Recurring financial charges65 | €866 | €111 | €1k | €2k | €1k | ▼ 23.9% |
| Profit (loss) for the period before taxes9903 | €8k | €14k | €4k | €8k | €11k | ▲ 41.5% |
| Income taxes67/77 | €2k | €4k | €1k | €2k | €3k | ▲ 52.1% |
| Profit (loss) for the period9904 | €5k | €10k | €3k | €6k | €8k | ▲ 37.7% |
| Profit (loss) for the period to be appropriated9905 | €5k | €10k | €3k | €6k | €8k | ▲ 37.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €58k | €67k | €96k | €92k | €92k | ▼ 0.1% |
| Fixed assets21/28 | €1k | €750 | €10k | €19k | €16k | ▼ 13.7% |
| Tangible fixed assets22/27 | €667 | - | €9k | €18k | €14k | ▼ 25.4% |
| Plant, machinery and equipment23 | €667 | - | €4k | €15k | €11k | ▼ 24.7% |
| Furniture and vehicles24 | - | - | €3k | €2k | €2k | ▼ 28.3% |
| Other tangible fixed assets26 | - | - | €2k | €1k | €852 | ▼ 29.1% |
| Financial fixed assets28 | €750 | €750 | €750 | €750 | €3k | ▲ 272% |
| Current assets29/58 | €57k | €66k | €87k | €73k | €75k | ▲ 3.4% |
| Stocks and contracts in progress3 | €41k | €36k | €54k | €53k | €59k | ▲ 11.9% |
| Stocks30/36 | €41k | €36k | €54k | €53k | €59k | ▲ 11.9% |
| Amounts receivable within one year40/41 | €4k | €1k | €2k | €11k | €2k | ▼ 81.6% |
| Trade receivables40 | €4k | €1k | €396 | €9k | €2k | ▼ 79.0% |
| Other amounts receivable41 | - | - | €2k | €2k | €150 | ▼ 92.7% |
| Cash at bank and in hand54/58 | €12k | €29k | €31k | €9k | €15k | ▲ 53.6% |
| Deferred charges and accrued income490/1 | €49 | €48 | €54 | €56 | €58 | ▲ 3.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €58k | €67k | €96k | €92k | €92k | ▼ 0.1% |
| Equity10/15 | €51k | €61k | €64k | €70k | €78k | ▲ 11.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €31k | €41k | €44k | €51k | €59k | ▲ 15.8% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €29k | €39k | €44k | €51k | €59k | ▲ 15.8% |
| Profit (loss) carried forward14 | €1k | €2k | €2k | €163 | €179 | ▲ 10.0% |
| Amounts payable17/49 | €8k | €6k | €32k | €22k | €14k | ▼ 37.4% |
| Amounts payable after more than one year17 | - | - | €18k | €9k | - | - |
| Financial debts170/4 | - | - | €18k | €9k | - | - |
| Amounts payable within one year42/48 | €8k | €6k | €15k | €13k | €14k | ▲ 7.2% |
| Current portion of amounts payable after more than one year42 | - | - | €8k | €9k | €9k | ▲ 5.6% |
| Trade debts44 | - | €646 | €901 | €1k | €603 | ▼ 46.0% |
| Suppliers440/4 | - | €646 | €901 | €1k | €603 | ▼ 46.0% |
| Taxes, remuneration and social security45 | €5k | €3k | €3k | €3k | €4k | ▲ 31.2% |
| Taxes450/3 | €5k | €3k | €3k | €3k | €4k | ▲ 31.2% |
| Other amounts payable47/48 | €3k | €3k | €3k | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5k | €10k | €3k | €6k | €8k | ▲ 37.7% |
| + Depreciation and write-downs630 | €667 | €667 | €661 | €4k | €5k | ▲ 9.0% |
| Operating cash flow (approximation) | €6k | €11k | €4k | €10k | €13k | ▲ 25.7% |
| Investment in fixed assets (approximation) | - | €0 | €-9k | €-14k | €-2k | ▲ 85.3% |
| Change in cash | - | €17k | €2k | €-22k | €5k | ▲ 124% |
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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €3k ▼70.8%
Net result drops to €3k, the lowest in the series; recovery starts the following year.
29-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €10k ▲94%
Operating result €14k, net result €10k, both a record.
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
21-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
25-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Antwerpen · 1 establishment unit since 1998
Ground area
186 m²
Building footprint
351 m²
Volume, LiDAR
6,407 m³
Parcel 11808H1179/00B018, Flanders · tallest building 23.6 m, ±7 floors. Linked by address, not a title deed.
26
companies at this address
See who is registered here
1 establishment unit
RAFFI'OR
since 19982.085.004.013
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1179/00B018 | Flanders | 186 m² | 1 · 351 m² | 23.6 m · 7 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.
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Of 2,016 companies in sector 47770 we hold annual accounts for 897. 688 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
Founded26-12-1997
Fiscal year end31-12
Activities, NACEBEL 2025
47770Retail sale of watches and jewellery
32121Other manufacturing
Scores and ratios are computed by Checked and are not a credit decision.