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RAGNAR

Active
Public limited companyfounded 20215 yrs activeTienne aux Clochers(WP) 86, 5100 Namur, BelgiumKBO/BCE: BE 0766.255.656
Summary

The computed 12-month bankruptcy probability of RAGNAR is 2.4% (moderate). The 2024 annual accounts show equity of €169,338 and a net result of €115,553. Equity is growing by ~17.6% per year across the filed fiscal years. The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2024
Axes · tick = 2023
Profitability66▲+29
Solvency42▲+13
Growth78▲+20
Track record94
Bankruptcy probability, 12 months
2.4% Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.2 against 1.05 in 2023; short-term debt: 83.3% and cash: 0.5% of total assets), and 83.3% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 date
Age against the risk zone
highest failure risk from 2 to 8 years 5 years 0 10 y
raises risk · No NACE activity registered
No NACE activity is registered in the KBO, which is more common among companies that later fail.
KBO · activities
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-04-2025, 105 days ahead of the deadline.
NBB · 4 filings
Deviation from the deadline
2025
not confirmed
2024
105 d early
2023
41 d early
2022
28 d late
2021
31 d early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 4 accounts on average 37 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Checked, nothing found (1)
neutral · 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

History

On 1 April 2021, RAGNAR was incorporated as a Public limited company.1 Total assets went from EUR 1.3 million in 2021 to EUR 1 million in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2021 and 2024

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Financials · fiscal year 2024, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€115,553
2023 · -€3,072
Working capital
€169,338▲ 215%
2023 · €53,785
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line2021202220232024
Operating result-€2,609--€801▲ 69.3%-€2,091▼ 161%€152,572
Net result-€3,444--€1,699▲ 50.7%-€3,072▼ 80.8%€115,553
Equity€58,556-€56,857▼ 2.9%€53,785▼ 5.4%€169,338▲ 215%
Total assets€1.3m-€1.2m▼ 0.1%€1.2m▼ 0.1%€1.0m▼ 18.8%
Debt€1.2m-€1.2m=€1.2m▲ 0.1%€843,349▼ 29.3%
Working capital€58,556-€56,857▼ 2.9%€53,785▼ 5.4%€169,338▲ 215%
Result per fiscal year
Operating resultNet result
-€50,000€0€50,000€100,000€150,000Operating result 2021: -€2,609-€2,609Net result 2021: -€3,444-€3,444Operating result 2022: -€801-€801Net result 2022: -€1,699-€1,699Operating result 2023: -€2,091-€2,091Net result 2023: -€3,072-€3,072Operating result 2024: €152,572€152,572Net result 2024: €115,553€115,5532021202220232024-€50,000€0€50,000€100,000€150,000Operating result 2022: -€801-€801Net result 2022: -€1,699-€1,700Operating result 2023: -€2,091-€2,090Net result 2023: -€3,072-€3,070Operating result 2024: €152,572€153,000Net result 2024: €115,553€116,000202220232024
The operating result returns to profit in 2024: €152,572 after a loss of €2,091 in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €1.0m
Equity €169,338 ▲ 215%
Debt €843,349 ▼ 29.3%
Debt's share of the balance-sheet total falls from 95.7% to 83.3%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2023
Current ratio
1.20▲
2023 · 1.05
Quick ratio
0.06▲
2023 · 0.05
Debt to equity
4.98▼
2023 · 22.19
ROE
68.2%▲
2023 · -5.7%
ROA
11.4%▲
2023 · -0.2%
Debt ≤ 1 year
€843,349▼
2023 · €1.2m
Income taxes
€36,082
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 2,679 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 97% are still going.

  • Small
  • 5 to 10 years old
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more
1.3% went bankrupt
1.2% stopped otherwise
97% still going

A further 0.3% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a higher bankruptcy probability: 2.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.4%
3 0.5% 0.5%
4 0.6% 0.7%
5 0.8% 0.9%
6 1.2% 1.3%
7 1.5% 1.7%
8 1.7% 1.7%
9 2.7% 2.8%
10 5.3% 5.7%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.

An observation about 2,679 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.

Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 33 lines
Balance sheet Code20232024
Assets
Total assets20/58€1.2m€1.0m▼
Current assets29/58€1.2m€1.0m▼
Stocks and contracts in progress3€1.2m€957,936▼
Stocks30/36€1.2m€957,936▼
Amounts receivable within one year40/41€50,000€50,000=
Other amounts receivable41€50,000€50,000=
Cash at bank and in hand54/58€9,761€4,751▼
Equity and liabilities
Total equity and liabilities10/49€1.2m€1.0m▼
Equity10/15€53,785€169,338▲
Contributions10/11€62,000€62,000=
Capital10€62,000€62,000=
Issued capital100€62,000€62,000=
Profit (loss) carried forward14-€8,215€107,338▲
Amounts payable17/49€1.2m€843,349▼
Amounts payable within one year42/48€1.2m€843,349▼
Trade debts44€1,222€267▼
Suppliers440/4€1,222€267▼
Taxes, remuneration and social security45-€6,082
Taxes450/3-€6,082
Other amounts payable47/48€1.2m€837,000▼
Income statement Code20232024
Other operating charges640/8€960€968▲
Gross operating margin9900-€1,130€153,540▲
Operating profit (loss)9901-€2,091€152,572▲
Financial income75/76B-€49
Recurring financial income75-€49
Financial charges65/66B€981€986▲
Recurring financial charges65€981€986▲
Profit (loss) for the period before taxes9903-€3,072€151,635▲
Income taxes67/77-€36,082
Profit (loss) for the period9904-€3,072€115,553▲
Profit (loss) for the period to be appropriated9905-€3,072€115,553▲
Appropriation of the result
Profit (loss) to be appropriated9906-€8,215€107,338▲
Profit (loss) brought forward from the previous period14P-€5,143-€8,215▼
Line2021202220232024Change
Other operating charges640/8€348€348€960€968▲ 0.8%
Gross operating margin9900-€2,262-€453-€1,130€153,540▲ 13,685%
Operating profit (loss)9901-€2,609-€801-€2,091€152,572▲ 7,398%
Financial income75/76B---€49-
Recurring financial income75---€49-
Financial charges65/66B€835€898€981€986▲ 0.4%
Recurring financial charges65€835€898€981€986▲ 0.4%
Profit (loss) for the period before taxes9903-€3,444-€1,699-€3,072€151,635▲ 5,036%
Income taxes67/77---€36,082-
Profit (loss) for the period9904-€3,444-€1,699-€3,072€115,553▲ 3,862%
Profit (loss) for the period to be appropriated9905-€3,444-€1,699-€3,072€115,553▲ 3,862%
Line2021202220232024Change
Assets
Total assets20/58€1.3m€1.2m€1.2m€1.0m▼ 18.8%
Current assets29/58€1.3m€1.2m€1.2m€1.0m▼ 18.8%
Stocks and contracts in progress3€1.2m€1.2m€1.2m€957,936▼ 19.3%
Stocks30/36€1.2m€1.2m€1.2m€957,936▼ 19.3%
Amounts receivable within one year40/41€50,000€50,000€50,000€50,000=
Other amounts receivable41€50,000€50,000€50,000€50,000=
Cash at bank and in hand54/58€13,111€11,612€9,761€4,751▼ 51.3%
Equity and liabilities
Total equity and liabilities10/49€1.3m€1.2m€1.2m€1.0m▼ 18.8%
Equity10/15€58,556€56,857€53,785€169,338▲ 215%
Contributions10/11€62,000€62,000€62,000€62,000=
Capital10€62,000€62,000€62,000€62,000=
Issued capital100€62,000€62,000€62,000€62,000=
Profit (loss) carried forward14-€3,444-€5,143-€8,215€107,338▲ 1,407%
Amounts payable17/49€1.2m€1.2m€1.2m€843,349▼ 29.3%
Amounts payable within one year42/48€1.2m€1.2m€1.2m€843,349▼ 29.3%
Trade debts44--€1,222€267▼ 78.2%
Suppliers440/4--€1,222€267▼ 78.2%
Taxes, remuneration and social security45---€6,082-
Taxes450/3---€6,082-
Other amounts payable47/48€1.2m€1.2m€1.2m€837,000▼ 29.8%
Line2021202220232024Change
Profit (loss) for the period9904-€3,444-€1,699-€3,072€115,553▲ 3,862%
Operating cash flow (approximation)-€3,444-€1,699-€3,072€115,553▲ 3,862%
Change in cash--€1,499-€1,850-€5,011▼ 171%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
17-04
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial Back to profitnet €115,553
Net result €115,553 after 3 loss-making years.
31-12
Financial Equity above €150,000Eq €169,338 ▲215%
Equity rises from €53,785 to €169,338.
20-06
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2023
28-08
NBB filing Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
30-06
NBB filing Annual accounts filed
fiscal year 2021 · 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, Namur · 1 establishment unit since 2021
seat establishment The establishment unit on the map
Ground area
1,798 m²
Building footprint
282 m²
Volume, LiDAR
2,254 m³
2 parcels, Wallonia · tallest building 18.6 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Avenue Félicien Rops 23, 5000 Namur
Real estate activities
since 20212.317.237.354
2 parcels
Wallonia 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
92302E0163/00V002 Wallonia 1,529 m² 1 · 42 m² 18.6 m · 6 fl.
92135H0406/00_000 Wallonia 269 m² 1 · 240 m² 10.1 m · 2 fl.
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Structure & network

Owners and holdings

1 owner

Chain of control

  1. Shelby 100%
  2. RAGNAR

Highest known parent: Shelby. The sources do not say who stands above it.

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Identification & contact

Identification
Legal formPublic limited company
Founded01-04-2021
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID 0208:0766255656
Also 9925:BE0766255656
Registered 22-12-2025

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.