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RAILREST

Active
Public limited companyfounded 200224 yrs activeFonsnylaan 13, 1060 Sint-Gillis (bij-Brussel), BelgiumKBO/BCE: BE 0477.264.744
Summary

RAILREST has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €575,492 and a net result of €1.9m. Equity is shrinking by ~3% per year across the filed fiscal years. Its solvency ranks better than 25% of 823 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.4% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability77▼-3
Solvency30▼-2
Growth48▲+1
Track record100
Bankruptcy probability, 12 months
1.4% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity tight (current ratio 1.07 against 1.1 in 2024; short-term debt: 93% and cash: 66% of total assets), and 95.1% of the assets are financed with debt.
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Signals

Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 24 years 0 30 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
4.9%
Return on assets
15.9%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 823 sector peers (2025).
NBB · sector comparison
Position among 823 sector peers
Solvency
better than 25%
← weakest strongest →
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 20-05-2026, 72 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
72 d early
2024
87 d early
2023
96 d early
2022
87 d early
2021
24 d early
2020
52 d early
2019
53 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 67 days before the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 53% of the sector filed late.

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. Usually files around 5 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
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

RAILREST was incorporated on 3 April 2002.1 The registered office was moved to Saint-Gilles in 2024.2 The board currently has 6 members; M. Nabil Joseph ZAIDAN has served longest, since 2009.3 Revenue went from EUR 32 million in 2018 to EUR 29 million in 2025 and headcount from 143 to 96.6 full-time equivalents.4

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 26-06-2024
  3. 3Belgian State Gazette, 01-06-2021
  4. 4National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, full schema

Turnover
€29.3m▲ 7.6%
2024 · €27.2m
EBIT margin
7.9%▼ 0.5pp
2024 · 8.4%
Net result
€1.9m▲ 8.7%
2024 · €1.7m
Working capital
€749,488▼ 5.4%
2024 · €792,339
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Turnover€8.3m▼ 32.8%€19.3m▲ 133%€24.8m▲ 28.4%€27.2m▲ 9.9%€29.3m▲ 7.6%
Operating result€431,471€735,474▲ 70.5%€1.2m▲ 58.2%€2.3m▲ 97.2%€2.3m▲ 1.4%
Net result€432,203above the sector's middle half€492,589above the sector's middle half▲ 14.0%€883,341above the sector's middle half▲ 79.3%€1.7mabove the sector's middle half▲ 95.5%€1.9m▲ 8.7%
EBIT margin5.2%▲ 7.4pp3.8%▼ 1.4pp4.7%▲ 0.9pp8.4%▲ 3.7pp7.9%▼ 0.5pp
Equity€1.9mabove the sector's middle half▲ 29.5%€2.4mabove the sector's middle half▲ 26.0%€2.0mabove the sector's middle half▼ 17.4%€598,555above the sector's middle half▼ 69.6%€575,492▼ 3.9%
Total assets€8.1mabove the sector's middle half▲ 9.5%€10.6mabove the sector's middle half▲ 31.0%€11.0mabove the sector's middle half▲ 3.4%€8.8mabove the sector's middle half▼ 19.5%€11.8m▲ 33.2%
Debt€5.9m▲ 19.1%€8.0m▲ 35.2%€8.8m▲ 9.9%€8.0m▼ 8.9%€11.0m▲ 36.8%
Working capital€2.1mabove the sector's middle half▼ 13.4%€2.5mabove the sector's middle half▲ 18.1%€2.1mabove the sector's middle half▼ 16.8%€792,339above the sector's middle half▼ 61.6%€749,488▼ 5.4%
Solvency23.4%within the sector's middle half▲ 3.6pp22.5%within the sector's middle half▼ 0.9pp17.9%within the sector's middle half▼ 4.5pp6.8%within the sector's middle half▼ 11.2pp4.9%▼ 1.9pp
Current ratio1.35within the sector's middle half▼ 0.141.31within the sector's middle half▼ 0.041.23within the sector's middle half▼ 0.081.10within the sector's middle half▼ 0.141.07▼ 0.03
Return on assets (ROA)5.3%within the sector's middle half▲ 11.9pp4.6%within the sector's middle half▼ 0.7pp8.0%within the sector's middle half▲ 3.4pp19.5%above the sector's middle half▲ 11.5pp15.9%▼ 3.6pp
Staff (FTE)79.5above the sector's middle half▼ 39.6%79.4above the sector's middle half▼ 0.1%88.4above the sector's middle half▲ 11.3%97.7above the sector's middle half▲ 10.5%96.6▼ 1.1%
above within below the middle half (P25 to P75) of NACE 56, Food and beverage service activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
€0€1.0m€2.0mOperating result 2021: €431,471€431,471Net result 2021: €432,203€432,203Operating result 2022: €735,474€735,474Net result 2022: €492,589€492,589Operating result 2023: €1.2m€1.2mNet result 2023: €883,341€883,341Operating result 2024: €2.3m€2.3mNet result 2024: €1.7m€1.7mOperating result 2025: €2.3m€2.3mNet result 2025: €1.9m€1.9m20212022202320242025€0€1m€2mOperating result 2023: €1.2m€1.2mNet result 2023: €883,341€883,000Operating result 2024: €2.3m€2.3mNet result 2024: €1.7m€1.7mOperating result 2025: €2.3m€2.3mNet result 2025: €1.9m€1.9m202320242025
The operating result has risen four years in a row; 2025 is 1% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.8m
Fixed assets €76,259 ▼ 17.9%
Current assets €11.7m ▲ 33.7%
Equity and liabilities €11.8m
Equity €575,492 ▼ 3.9%
Provisions €250,255 ▲ 5.4%
Debt €11.0m ▲ 36.8%
Debt's share of the balance-sheet total rises from 90.5% to 93.0%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€2.4m▲
2024 · €2.3m
Cash flow
€1.9m▲
2024 · €1.8m
Quick ratio
1.02▼
2024 · 1.05
Debt to equity
19.04▲
2024 · 13.38
ROE
326.1%▲
2024 · 288.5%
Interest coverage
343.80▼
2024 · 346.91
Debt ≤ 1 year
€11.0m▲
2024 · €8.0m
Income taxes
€395,775▼
2024 · €506,304
Staff costs
€11.8m▲
2024 · €10.8m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 166 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 97% are still going.

  • Medium-sized
  • solvency under 10%
  • a profit of 5% of the balance sheet or more
  • without age
1.2% went bankrupt
1.8% stopped otherwise
97% still going

For this company itself Checked computes a bankruptcy probability of 1.4% over twelve months; the group does not contradict it.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.9%
9 3.0% 3.1%
10 5.6% 6.2%

The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 166 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 · 2025 against 2024 · 70 lines
Balance sheet Code20242025
Assets
Total assets20/58€8.8m€11.8m▲
Fixed assets21/28€92,891€76,259▼
Intangible fixed assets21€962€0▼
Tangible fixed assets22/27€59,639€42,623▼
Plant, machinery and equipment23€51,519€36,569▼
Furniture and vehicles24€8,121€6,054▼
Financial fixed assets28€32,290€33,636▲
Other financial fixed assets284/8€32,290€33,636▲
Amounts receivable and cash guarantees285/8€32,290€33,636▲
Current assets29/58€8.8m€11.7m▲
Stocks and contracts in progress3€404,987€491,530▲
Stocks30/36€404,987€491,530▲
Goods purchased for resale34€404,987€491,530▲
Amounts receivable within one year40/41€2.0m€3.3m▲
Trade receivables40€2.0m€3.3m▲
Other amounts receivable41€4,059€4,153▲
Cash at bank and in hand54/58€6.2m€7.8m▲
Deferred charges and accrued income490/1€132,213€153,394▲
Equity and liabilities
Total equity and liabilities10/49€8.8m€11.8m▲
Equity10/15€598,555€575,492▼
Contributions10/11€500,000€500,000=
Capital10€500,000€500,000=
Issued capital100€500,000€500,000=
Reserves13€50,000€50,000=
Non-distributable reserves130/1€50,000€50,000=
Legal reserve130€50,000-
Reserves not available under the articles1311-€50,000
Profit (loss) carried forward14€48,555€25,492▼
Provisions and deferred taxes16€237,428€250,255▲
Provisions for liabilities and charges160/5€237,428€250,255▲
Other liabilities and charges164/5€237,428€250,255▲
Amounts payable17/49€8.0m€11.0m▲
Amounts payable within one year42/48€8.0m€11.0m▲
Trade debts44€1.6m€4.5m▲
Suppliers440/4€1.6m€4.5m▲
Taxes, remuneration and social security45€4.7m€4.6m▼
Taxes450/3€537,639€250,201▼
Remuneration and social security454/9€4.1m€4.3m▲
Other amounts payable47/48€1.7m€1.9m▲
Accrued charges and deferred income492/3€49,247-
Income statement Code20242025
Operating income70/76A€28.0m€30.1m▲
Turnover70€27.2m€29.3m▲
Other operating income74€786,241€794,078▲
Operating charges60/66A€25.7m€27.8m▲
Goods for resale, raw materials and consumables60€8.4m€9.5m▲
Purchases600/8€8.4m€9.5m▲
Change in stocks: decrease (increase)609-€72,368€30,326▲
Services and other goods61€6.5m€6.5m▼
Remuneration, social security and pensions62€10.8m€11.8m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€52,842€34,141▼
Other operating charges640/8€570€187▼
Operating profit (loss)9901€2.3m€2.3m▲
Financial income75/76B€495€241▼
Recurring financial income75€495€241▼
Other financial income752/9€495€241▼
Financial charges65/66B€62,490€55,283▼
Recurring financial charges65€62,490€55,283▼
Debt charges650€6,769€6,870▲
Other financial charges652/9€55,721€48,413▼
Profit (loss) for the period before taxes9903€2.2m€2.3m▲
Income taxes67/77€506,304€395,775▼
Taxes670/3€526,524€462,167▼
Tax adjustments and reversals of tax provisions77€20,219€66,391▲
Profit (loss) for the period9904€1.7m€1.9m▲
Profit (loss) for the period to be appropriated9905€1.7m€1.9m▲
Appropriation of the result
Profit (loss) to be appropriated9906€3.1m€1.9m▼
Profit (loss) brought forward from the previous period14P€1.4m€48,555▼
Profit to be distributed694/7€3.1m€1.9m▼
Return on contributions (dividend)694€3.1m€1.9m▼
Social balance
Average headcount (FTE)908797.796.6▼

The notes to these accounts (31 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Operating income70/76A€12.7m€20.4m€25.2m€28.0m€30.1m▲ 7.5%
Turnover70€8.3m€19.3m€24.8m€27.2m€29.3m▲ 7.6%
Other operating income74€3.7m€998,170€358,343€786,241€794,078▲ 1.0%
Non-recurring operating income76A€699,431€64,475€10,358---
Operating charges60/66A€12.2m€19.6m€24.0m€25.7m€27.8m▲ 8.0%
Goods for resale, raw materials and consumables60€1.5m€6.5m€7.9m€8.4m€9.5m▲ 13.3%
Purchases600/8€1.5m€6.6m€7.9m€8.4m€9.5m▲ 12.0%
Change in stocks: decrease (increase)609€42,028-€91,522-€35,710-€72,368€30,326▲ 142%
Services and other goods61€2.1m€4.3m€5.9m€6.5m€6.5m▼ 0.3%
Remuneration, social security and pensions62€8.5m€8.7m€10.2m€10.8m€11.8m▲ 9.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€50,091€56,354€57,563€52,842€34,141▼ 35.4%
Provisions for liabilities and charges: additions (uses and reversals)635/8€20,870-----
Other operating charges640/8€85,239€8,765€27,302€570€187▼ 67.2%
Operating profit (loss)9901€431,471€735,474€1.2m€2.3m€2.3m▲ 1.4%
Financial income75/76B€249€395€3,236€495€241▼ 51.3%
Recurring financial income75€249€395€3,236€495€241▼ 51.3%
Other financial income752/9€249€395€3,236€495€241▼ 51.3%
Financial charges65/66B€45,653€51,855€38,245€62,490€55,283▼ 11.5%
Recurring financial charges65€45,653€51,855€38,245€62,490€55,283▼ 11.5%
Debt charges650--€8,840€6,769€6,870▲ 1.5%
Other financial charges652/9€45,653€51,855€29,404€55,721€48,413▼ 13.1%
Profit (loss) for the period before taxes9903€386,067€684,014€1.1m€2.2m€2.3m▲ 1.8%
Income taxes67/77-€46,136€191,425€245,375€506,304€395,775▼ 21.8%
Taxes670/3€1,979€298,174€317,023€526,524€462,167▼ 12.2%
Tax adjustments and reversals of tax provisions77€48,115€106,749€71,648€20,219€66,391▲ 228%
Profit (loss) for the period9904€432,203€492,589€883,341€1.7m€1.9m▲ 8.7%
Profit (loss) for the period to be appropriated9905€432,203€492,589€883,341€1.7m€1.9m▲ 8.7%
Line20212022202320242025Change
Assets
Total assets20/58€8.1m€10.6m€11.0m€8.8m€11.8m▲ 33.2%
Fixed assets21/28€98,275€144,402€133,961€92,891€76,259▼ 17.9%
Intangible fixed assets21€10,185€11,837€5,530€962€0▼ 100%
Tangible fixed assets22/27€63,910€103,632€97,744€59,639€42,623▼ 28.5%
Plant, machinery and equipment23€63,632€102,791€93,616€51,519€36,569▼ 29.0%
Furniture and vehicles24€278€841€4,128€8,121€6,054▼ 25.5%
Financial fixed assets28€24,180€28,933€30,687€32,290€33,636▲ 4.2%
Other financial fixed assets284/8€24,180€28,933€30,687€32,290€33,636▲ 4.2%
Amounts receivable and cash guarantees285/8€24,180€28,933€30,687€32,290€33,636▲ 4.2%
Current assets29/58€8.0m€10.5m€10.9m€8.8m€11.7m▲ 33.7%
Stocks and contracts in progress3€167,387€258,909€332,618€404,987€491,530▲ 21.4%
Stocks30/36€167,387€258,909€332,618€404,987€491,530▲ 21.4%
Goods purchased for resale34€167,387€258,909€332,618€404,987€491,530▲ 21.4%
Amounts receivable within one year40/41€1.7m€952,365€674,774€2.0m€3.3m▲ 61.6%
Trade receivables40€1.6m€946,611€671,708€2.0m€3.3m▲ 61.7%
Other amounts receivable41€112,870€5,754€3,066€4,059€4,153▲ 2.3%
Cash at bank and in hand54/58€6.1m€9.1m€9.7m€6.2m€7.8m▲ 25.8%
Deferred charges and accrued income490/1€94,902€134,584€110,396€132,213€153,394▲ 16.0%
Equity and liabilities
Total equity and liabilities10/49€8.1m€10.6m€11.0m€8.8m€11.8m▲ 33.2%
Equity10/15€1.9m€2.4m€2.0m€598,555€575,492▼ 3.9%
Contributions10/11€500,000€500,000€500,000€500,000€500,000=
Capital10€500,000€500,000€500,000€500,000€500,000=
Issued capital100€500,000€500,000€500,000€500,000€500,000=
Reserves13€50,000€50,000€50,000€50,000€50,000=
Non-distributable reserves130/1€50,000€50,000€50,000€50,000€50,000=
Legal reserve130€50,000€50,000€50,000€50,000--
Reserves not available under the articles1311----€50,000-
Profit (loss) carried forward14€1.3m€1.8m€1.4m€48,555€25,492▼ 47.5%
Provisions and deferred taxes16€300,505€236,029€225,671€237,428€250,255▲ 5.4%
Provisions for liabilities and charges160/5€300,505€236,029€225,671€237,428€250,255▲ 5.4%
Other liabilities and charges164/5€300,505€236,029€225,671€237,428€250,255▲ 5.4%
Amounts payable17/49€5.9m€8.0m€8.8m€8.0m€11.0m▲ 36.8%
Amounts payable within one year42/48€5.9m€8.0m€8.8m€8.0m€11.0m▲ 37.6%
Trade debts44€1.3m€1.7m€2.1m€1.6m€4.5m▲ 183%
Suppliers440/4€1.3m€1.7m€2.1m€1.6m€4.5m▲ 183%
Taxes, remuneration and social security45€4.7m€6.3m€6.7m€4.7m€4.6m▼ 2.2%
Taxes450/3€324,098€68,067€430,107€537,639€250,201▼ 53.5%
Remuneration and social security454/9€4.3m€6.3m€6.2m€4.1m€4.3m▲ 4.5%
Other amounts payable47/48---€1.7m€1.9m▲ 11.8%
Accrued charges and deferred income492/3€1,280--€49,247--
Line20212022202320242025Change
Profit (loss) for the period9904€432,203€492,589€883,341€1.7m€1.9m▲ 8.7%
+ Depreciation and write-downs630€50,091€56,354€57,563€52,842€34,141▼ 35.4%
Operating cash flow (approximation)€482,294€548,943€940,904€1.8m€1.9m▲ 7.4%
Investment in fixed assets (approximation)--€102,481-€47,121-€11,772-€17,509▼ 48.7%
Change in cash-€3.1m€602,303-€3.6m€1.6m▲ 145%

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

Next filing, fiscal year 2026, expected by 31-07-2027
2026
17-07
State Gazette act Permanent representatives: Filip Simpelaere, H. Wevers BV and fsimpelaire BV
4 facts ▸
  • General meeting, 01-04-2026
  • Permanent representative, Filip Simpelaere (représentant permanent du commissaire réviseur)
  • Permanent representative, H. Wevers BV (représentant permanent du commissaire réviseur)
  • Permanent representative, fsimpelaire BV (représentant permanent du commissaire réviseur)
20-05
NBB filing Annual accounts filed
fiscal year 2025 · full schema
28-01
State Gazette act Resignations: Andrew David Webb (administrateur «b») and Rolf Geling (administrateur «b»)
Appointments: Scott Etherington (administrateur «b») and Hardip Kaur (administrateur «b»)5 facts ▸
  • General meeting, 17-11-2025
  • Director resignation, Andrew David Webb (administrateur «b»)
  • Director resignation, Rolf Geling (administrateur «b»)
  • Director appointment, Scott Etherington (administrateur «b»)
  • Director appointment, Hardip Kaur (administrateur «b»)
27-01
State Gazette act Resignations: Giosuè De Nigris (director) and Gérard Petit (director)
Appointment: Nicolas Bigard (director) · Power of attorney6 facts ▸
  • General meeting, 05-09-2025
  • Director resignation, Giosuè De Nigris (director)
  • Director appointment, Nicolas Bigard (director)
  • Board meeting, 05-09-2025
  • Director resignation, Gérard Petit (director)
  • Power of attorney, Gérard Petit
2025
31-12
Financial Highest result since 2018net €1.9m ▲8.7%
Operating result €2.3m, net result €1.9m, both a record.
29-08
State Gazette act Reappointment: Ernst & Young Reviseurs d'Entreprises (statutory auditor)
2 facts ▸
  • General meeting, 02-04-2025
  • Auditor reappointment, Ernst & Young Reviseurs d'Entreprises
05-05
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
25-11
State Gazette act Resignation: Cristian Biasoni (director)
Appointment: Giosue De Nigris (director)3 facts ▸
  • General meeting, 24-10-2024
  • Director resignation, Cristian Biasoni (director)
  • Director appointment, Giosue De Nigris (director)
01-10
State Gazette act Resignation: Françoise Boulanger (directrice des ressources humaines)
Power of attorney6 facts ▸
  • Board meeting, 21-05-2024
  • Director resignation, Françoise Boulanger (directrice des ressources humaines (director hr))
  • Power of attorney, Françoise Boulanger
  • Power of attorney, Renaud Willame (directeur des ressources humaines (director hr))
  • Power of attorney, François Melin (directeur général (general manager))
  • Power of attorney, Kris Detaevernier (directeur financier (director finance))
26-06
State Gazette act Registered office · Statutes amendment
Capital · Registered-office move · Power of attorney6 facts ▸
  • General meeting, 20-06-2024
  • Statutes amendment
  • Capital, €500.000
  • Registered-office move, avenue Fonsny 13, 1060 Saint-Gilles
  • Power of attorney, Conseil d'administration
  • Share classes
26-04
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2023
24-05
State Gazette act Resignation: Gisèle de Brabanter (directrice générale ad interim)
Power of attorney3 facts ▸
  • Board meeting, 19-04-2023
  • Director resignation, Gisèle de Brabanter (directrice générale ad interim)
  • Power of attorney, Gisèle de Brabanter
Show earlier events
05-05
NBB filing Annual accounts filed
fiscal year 2022 · full schema
16-03
State Gazette act Resignation: Andrew David HARDING (director)
Appointment: Rolf GELING (director)3 facts ▸
  • General meeting, 24-08-2022
  • Director resignation, Andrew David HARDING (director)
  • Director appointment, Rolf GELING (director)
2022
31-12
Financial Equity above €2mEq €2.4m ▲26%
2 profitable years in a row build equity to €2.4m.
21-11
State Gazette act Appointment: Gisèle de Brabanter (directrice générale)
Power of attorney4 facts ▸
  • Board meeting, 04-04-2022
  • Director appointment, Gisèle de Brabanter (directrice générale)
  • Power of attorney, Gisèle de Brabanter
  • Power of attorney, Gisèle de Brabanter
15-09
State Gazette act Resignation: Anne Vandevelde (directrice des ressources humaines)
Power of attorney6 facts ▸
  • Board meeting, 16-08-2022
  • Director resignation, Anne Vandevelde (directrice des ressources humaines (director hr))
  • Power of attorney, Anne Vandevelde
  • Power of attorney, Françoise Boulanger (directrice des ressources humaines (director hr))
  • Power of attorney, François Melin (directeur général ad interim (general manager))
  • Power of attorney, Kris Detaevenier (directeur financier (director finance))
07-07
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial Back to profitnet €432,203
Net result €432,203 after one loss-making year.
09-11
State Gazette act Resignation: Beat Christian EHLERS (director)
Appointment: Andrew David WEBB (director)3 facts ▸
  • General meeting, 03-08-2021
  • Director resignation, Beat Christian EHLERS (director)
  • Director appointment, Andrew David WEBB (director)
09-06
NBB filing Annual accounts filed
fiscal year 2020 · full schema
01-06
State Gazette act Reappointments: Cristian BIASONI, Nabil Joseph ZAIDAN and 4 others
Auditor representation8 facts ▸
  • General meeting, 07-04-2021
  • Director reappointment, Cristian BIASONI (administrateur « a »)
  • Director reappointment, Nabil Joseph ZAIDAN (administrateur « a »)
  • Director reappointment, Fabio CROCE (administrateur « a »)
  • Director reappointment, Beat Christian EHLERS (administrateur « b »)
  • Director reappointment, Andrew David HARDING (administrateur « b »)
  • Auditor reappointment, Ernst et Young Reviseurs d'Entreprises (commissaire réviseur)
  • Auditor representation, représentée par H. Wevers B.V. (numéro d'enregistrement A01843)
05-02
State Gazette act Resignation: Eric Van Voorhuyzen (directeur des ressources humaines)
Appointment: Anne Vandevelde (directrice des ressources humaines) · Power of attorney4 facts ▸
  • Board meeting, 11-12-2020
  • Director resignation, Eric Van Voorhuyzen (directeur des ressources humaines (director hr))
  • Power of attorney, Eric Van Voorhuyzen
  • Director appointment, Anne Vandevelde (directrice des ressources humaines (director hr))
2020
31-12
Financial Weakest financial yearnet -€486,482
Net result drops to -€486,482, the lowest in the series; recovery starts the following year.
30-09
State Gazette act Resignations: Mark Baetens (directeur opérationnel) and Benoit Hubin (directeur des ressources humaines)
Appointments: Ida Vandekerckhove (directeur opérationnel) and Eric Van Voorhuyzen (directeur des ressources humaines) · Power of attorney7 facts ▸
  • Board meeting, 05-08-2020
  • Director resignation, Mark Baetens (directeur opérationnel (director operations))
  • Director resignation, Benoit Hubin (directeur des ressources humaines (director hr))
  • Power of attorney, Mark Baetens
  • Power of attorney, Benoit Hubin
  • Director appointment, Ida Vandekerckhove (directeur opérationnel (director operations))
  • Director appointment, Eric Van Voorhuyzen (directeur des ressources humaines (director hr))
08-06
NBB filing Annual accounts filed
fiscal year 2019 · full schema
13-01
State Gazette act Resignation: Shane Roy BROOM (class B director)
Appointment: Andrew David HARDING (class B director) · Mandate compensation4 facts ▸
  • General meeting, 24-09-2019
  • Director resignation, Shane Roy BROOM (class B director)
  • Director appointment, Andrew David HARDING (class B director)
  • Mandate compensation, Andrew David HARDING
2019
20-06
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
26-06
NBB filing Annual accounts filed
fiscal year 2017 · full schema
25-06
State Gazette act Reappointment: Ernst & Young, Réviseurs d'Entreprises SCIV SCRL (statutory auditor)
Power of attorney5 facts ▸
  • General meeting, 04-04-2018
  • Board meeting, 27-03-2018
  • Auditor reappointment, Ernst & Young, Réviseurs d'Entreprises SCIV SCRL
  • Power of attorney, Peter DEGROOTE
  • Power of attorney, Benoit HUBIN
08-02
State Gazette act Resignations: Ciaran FOLEY (class B director) and Kim BIRCHAM (class B director)
Appointments: Beat Christian EHLERS (class B director) and Shane Roy BROOM (class B director) · Mandate compensation7 facts ▸
  • General meeting, 03-10-2017
  • Director resignation, Ciaran FOLEY (class B director)
  • Director appointment, Beat Christian EHLERS (class B director)
  • Mandate compensation, Beat Christian EHLERS
  • Director resignation, Kim BIRCHAM (class B director)
  • Director appointment, Shane Roy BROOM (class B director)
  • Mandate compensation, Shane Roy BROOM
2017
15-06
NBB filing Annual accounts filed
fiscal year 2016 · full schema
23-02
State Gazette act Resignation: Fabbian VALENTINO (class A director)
Appointment: Cristian BIASONI (class A director) · Mandate compensation · Power of attorney5 facts ▸
  • General meeting, 29-06-2016
  • Director resignation, Fabbian VALENTINO (class A director)
  • Director appointment, Cristian BIASONI (class A director)
  • Mandate compensation, Cristian BIASONI
  • Power of attorney, Nora WOUTERS
2016
13-01
State Gazette act Reappointment: Ernst & Young Réviseurs d'Entreprises SCIV SCRL (statutory auditor)
Permanent representative: Han Wevers4 facts ▸
  • Board meeting, 30-11-2015
  • General meeting, 01-04-2015
  • Auditor reappointment, Ernst & Young Réviseurs d'Entreprises SCIV SCRL
  • Permanent representative, Han Wevers
2015
22-06
State Gazette act Reappointments: Nabil Joseph Zaidan, Valentino Fabbian and 3 others
Resignation: Ian Brian Mitchell (administrateur catégorie b) · Appointment: Ciaran Foley (administrateur catégorie b) · Mandate compensation13 facts ▸
  • General meeting, 01-04-2015
  • Director reappointment, Nabil Joseph Zaidan (administrateur catégorie a)
  • Director reappointment, Valentino Fabbian (administrateur catégorie a)
  • Director reappointment, Fabio Croce Sebastiani (administrateur catégorie a)
  • Director reappointment, Kim Bircham (administrateur catégorie b)
  • Mandate compensation, Nabil Joseph Zaidan
  • Mandate compensation, Valentino Fabbian
  • Mandate compensation, Fabio Croce Sebastiani
  • Mandate compensation, Kim Bircham
  • Director resignation, Ian Brian Mitchell (administrateur catégorie b)
  • Director appointment, Ciaran Foley (administrateur catégorie b)
  • Mandate compensation, Ciaran Foley
  • +1 further facts in this act
2012
08-11
State Gazette act Appointment: Ernst & Young Réviseurs d'Entreprises CV (commissaire réviseur)
2 facts ▸
  • General meeting, 04-04-2012
  • Auditor appointment, Ernst & Young Réviseurs d'Entreprises CV (commissaire réviseur)
2011
05-07
State Gazette act Capital & shares · Statutes amendment
Capital · Power of attorney11 facts ▸
  • General meeting, 20-06-2011
  • Statutes amendment
  • Statutes amendment
  • Statutes amendment
  • Statutes amendment
  • Statutes amendment
  • Statutes amendment
  • Capital, €500.000
  • Power of attorney, Stéphanie Emaelsteen
  • Power of attorney, Catherine Lelong
  • Capital
28-06
State Gazette act Resignations & appointments
Power of attorney5 facts ▸
  • Board meeting, 14-03-2011
  • Power of attorney, Gérald PETIT
  • Power of attorney, Gisèle DE BRABANTER
  • Power of attorney, Mark BAETENS
  • Power of attorney, Peter DE GROOTE
28-02
State Gazette act Resignations: Giovanni BENFATTI (class A director) and Roger WORRELL (class B director)
Appointments: Fabio CROCE SEBASTIANI, Ernst & Young Reviseurs d'Entreprises CV and 2 others · Reappointments: Nabil Joseph ZAIDAN, Valentino FABBIAN and 2 others · Mandate compensation19 facts ▸
  • General meeting, 28-01-2011
  • Director resignation, Giovanni BENFATTI (class A director)
  • Director appointment, Fabio CROCE SEBASTIANI (class A director)
  • Mandate compensation, Fabio CROCE SEBASTIANI
  • Director reappointment, Nabil Joseph ZAIDAN (class A director)
  • Director reappointment, Valentino FABBIAN (class A director)
  • Director reappointment, Roger WORRELL (class B director)
  • Director reappointment, Kim BIRCHAM (class B director)
  • Mandate compensation, Nabil Joseph ZAIDAN
  • Mandate compensation, Valentino FABBIAN
  • Mandate compensation, Roger WORRELL
  • Mandate compensation, Kim BIRCHAM
  • +7 further facts in this act
2008
19-05
State Gazette act Resignation: Levın Laxton (director)
Appointment: Roger Worrell (director) · Reappointments: Giovanni Benfattı, Nabıl Joseph Zaidan and 2 others7 facts ▸
  • General meeting, 17/04/2008
  • Director resignation, Levın Laxton (director)
  • Director appointment, Roger Worrell (director)
  • Director reappointment, Giovanni Benfattı (director)
  • Director reappointment, Nabıl Joseph Zaidan (director)
  • Director reappointment, Valentino Fabbıan (director)
  • Director reappointment, Kim Bircham (director)
31-03
State Gazette act Reappointment: Deloitte & Touche - Réviseurs d'Entreprises (statutory auditor)
2 facts ▸
  • General meeting, 26-04-2006
  • Auditor reappointment, Deloitte & Touche - Réviseurs d'Entreprises (statutory auditor)
2006
04-09
State Gazette act Resignations: Ludovic Maisin (director) and Alberto Zoboli (director)
Appointment: Kevin Laxton (chair of the board)4 facts ▸
  • Board meeting, 24-05-2006
  • Director resignation, Ludovic Maisin (director)
  • Director resignation, Alberto Zoboli (director)
  • Director appointment, Kevin Laxton (chair of the board)
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
28 of 28 acts read

Directors · office · real estate

Directors
6 directors, no change since 2025

Board 6

M. Nabil Joseph ZAIDAN
Administrateur « a » · since 27-03-2009
Current
Ida Vandekerckhove
Directeur opérationnel (director operations) · since 05-08-2020
Current
M. Fabio CROCE
Administrateur « a » · since 07-04-2021
Current
Nicolas Bigard
Director · since 30-04-2025
Current
Hardip Kaur
Administrateur «b» · since 17-11-2025
Current
Scott Etherington
Administrateur «b» · since 17-11-2025
Current
6 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
Kevin Laxton
Chair of the board · since 24-05-2006
Not recently confirmed
Fabio CROCE SEBASTIANI
Administrateur catégorie a · since 27-03-2009
Not recently confirmed
Ian MITCHELL
Class B director · since 21-09-2009
Not recently confirmed
Not recently confirmed
Not recently confirmed
Not recently confirmed

Statutory auditor 1

Ernst & Young Réviseurs d'entreprises
Auditor · since 27-03-2009 · perm. rep.: H. Wevers BV
Current
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Gillis (bij-Brussel) · 1 establishment unit since 2002
seat establishment The establishment unit on the map
Ground area
1,399 m²
Building footprint
1,098 m²
Volume, LiDAR
27,683 m³
Parcel 21562A0388/00B006, Brussels · tallest building 29.8 m, ±9 floors. Linked by address, not a title deed.
5 companies at this address See who is registered here
1 establishment unit
RAILREST
Fonsnylaan 13, 1060 Sint-Gillis (bij-Brussel)NACE 5530102
since 20022.094.778.247
1 parcel
Brussels 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21562A0388/00B006 Brussels 1,399 m² 1 · 1,098 m² 29.8 m · 9 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.

Mandate history

37 people since 2006, 13 in office
Show
  • Board
  • Day-to-day management
  • Statutory auditor
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
M. Nabil Joseph ZAIDAN
  • Class A director, already before 27-03-2009 to date
Ida Vandekerckhove
  • Directeur opérationnel (director operations), from 05-08-2020 to date
M. Fabio CROCE
  • Administrateur « a », already before 07-04-2021 to date
Nicolas Bigard
  • Director, from 30-04-2025 to date
Hardip Kaur
  • Administrateur «b», from 17-11-2025 to date
Scott Etherington
  • Administrateur «b», from 17-11-2025 to date
Ernst & Young Réviseurs d'entreprises
  • Auditor, from 27-03-2009 to date
Kevin Laxton
  • Chair of the board, from 24-05-2006 not ended, last confirmed 04-09-2006
Giovanni Benfattı
  • Director, already before 19-05-2008 not ended, last confirmed 19-05-2008
Nabıl Joseph Zaidan
  • Director, already before 19-05-2008 not ended, last confirmed 19-05-2008
Valentino Fabbıan
  • Director, already before 19-05-2008 not ended, last confirmed 19-05-2008
Fabio CROCE SEBASTIANI
  • Class A director, from 27-03-2009 not ended, last confirmed 22-06-2015
Ian MITCHELL
  • Class B director, from 21-09-2009 not ended, last confirmed 28-02-2011
Andrew David Webb
  • Director, from 30-07-2021 to 17-11-2025
Rolf Geling
  • Director, from 24-08-2022 to 17-11-2025
Giosuè De Nigris
  • Director, from 30-09-2024 to 30-04-2025
Gérard Petit
  • Director, until 30-11-2024
Cristian Biasoni
  • Class A director, from 29-06-2016 to 30-09-2024
Françoise Boulanger
  • Directrice des ressources humaines (director hr), until 17-09-2023
Gisèle de Brabanter
  • Directrice générale, from 04-04-2022 to 28-02-2023
Andrew David HARDING
  • Class B director, from 01-09-2019 to 24-08-2022
Anne Vandevelde
  • Directrice des ressources humaines (director hr), from 11-12-2020 to 11-07-2022
Beat Christian EHLERS
  • Class B director, from 26-09-2017 to 30-07-2021
Eric Van Voorhuyzen
  • Directeur des ressources humaines (director hr), from 05-08-2020 to 28-01-2021
Benoit Hubin
  • Directeur des ressources humaines (director hr), until 31-05-2020
Mark Baetens
  • Directeur opérationnel (director operations), until 30-04-2020
Shane Roy BROOM
  • Class B director, from 26-09-2017 to 01-09-2019
Ciaran FOLEY
  • Administrateur catégorie b, from 01-04-2015 to 09-09-2017
Kim BIRCHAM
  • Chair, from 17-04-2008 ended, last mentioned 28-02-2011
  • Director, already before 19-05-2008 to 30-08-2017
Fabbian VALENTINO
  • Class A director, already before 27-03-2009 to 15-04-2016
Ian Brian Mitchell
  • Administrateur catégorie b, until 27-03-2015
Roger WORRELL
  • Director, from 17-04-2008 to 21-09-2009
Deloitte & Touche - Réviseurs d'Entreprises
  • Statutory auditor, from 26-04-2006 to 27-03-2009
Giovanni BENFATTI
  • Class A director, until 18-03-2009
Levın Laxton
  • Director, until 22-02-2008
Alberto Zoboli
  • Director, until 24-05-2006
Ludovic Maisin
  • Director, until 24-05-2006
See the board, name and seat on a given date →

Articles of association

Purpose
L'exécution de services à bord de trains incluant : - l'organisation, l 'exploitation et la gestion de services au public, y compris, mais non limité à, l' accueil des passagers…
Full purpose

L'exécution de services à bord de trains incluant : - l'organisation, l 'exploitation et la gestion de services au public, y compris, mais non limité à, l' accueil des passagers, la distribution de repas et/ou boissons, la vente ou la distribution de toutes sortes de produits et toutes sortes de services au public connexes au transport ferroviaire en ce compris l'organisation de services logistiques annexes, tant pour son compte propre, que pour le compte des exploitants des réseaux ferroviaires ; - toutes opérations, comme entre autres, l'étude, le conseil, le commerce, le transport et la production relatives aux services au public à bord des trains. La société a en outre pour objet : - la création, l'acquisition, l'exploitation, la gestion directe et indirecte, tant pour elle-même que pour le compte de tiers, en Belgique ou à l'étranger, de restaurants, bars, cafétarias, drugstores, restaurants d'entreprises, ainsi que tous services ou entreprises annexes ; - la préparation et la vente de tous articles d'alimentation destinés à la restauration ; - la fourniture de services d'entretien et de nettoyage et toutes opérations annexes ; - toutes opérations immobilières ou mobilières, financières, commerciales ou industrielles, toutes opérations de change se rapportant à ses objets sociaux.

Structure & network

Owners and holdings

1 owner

Chain of control

  1. CREMONINI SOCIETA' PER AZIONI ABBREVIABILE IN CREMONINI S.P.A.IT consolidated
  2. RAILREST

Highest known parent: CREMONINI SOCIETA' PER AZIONI ABBREVIABILE IN CREMONINI S.P.A. (Italy). The sources do not say who stands above it.

Owners 1

  • CREMONINI SOCIETA' PER AZIONI ABBREVIABILE IN CREMONINI S.P.A.ITparent
    consolidated

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

6 current directors
Depth

The network starts from this company’s directors. Other companies they run appear here as nodes.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, scroll to zoom.

Capital and shareholders

Capital over the years
  1. 26-06-2024 Capital stated in 2 acts · 500,000 EUR · 50,000 shares

Recognitions · licences · registrations

Food safety, FASFC

1 site · 1 with a smiley
Sint-Gillis2.094.778.247
1 permission · smiley 2027NL00608 valid until 21-12-2027
Toelating · Eetgelegenheid · since 25-06-2024

Legal Entity Identifier

699400Q5YAK51N5VWT41
live in the LEI register

Similar companies · same sector, comparable size

Of 1,350 companies in sector 56220 we hold annual accounts for 406. 204 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded03-04-2002
Fiscal year end31-12
Activities, NACEBEL 2025
56220Contract catering and other food service activities
E-invoicing
Reachable via Peppol
Peppol ID 0208:0477264744
Also 9925:BE0477264744
Registered 31-10-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 29 September 2026 · Peppol Directory

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