Railways &Co

Active

Private limited companyfounded 20215 yrs activeSint-Laureisstraat 10, 2018 Antwerpen, BelgiumKBO/BCE: BE 0765.259.823

Summary

The computed 12-month bankruptcy probability of Railways &Co is 2.2% (moderate). The 2024 annual accounts show equity of €51k and a net result of €-4k. Equity is growing by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 21% of 1330 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

43 / 100

Weak

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability67▼-5

Solvency45▼-3

Growth52=

Track record94

Bankruptcy probability, 12 months

2.2% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €2k at 30 days only on tighter terms

Liquidity short (current ratio 0.87 against 0.7 in 2023; short-term debt: 80.2% and cash: 4.7% of total assets), and 80.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

+raises risk○neutral

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

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

19.8%

Return on assets

-1.6%

Age of the figures

21 mo

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 42

Relative position

BE, all sectors

reference

Sector 42

higher

← fewer bankruptcies more bankruptcies →

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 1330 sector peers (2024).

NBB · sector comparison

Position among 1330 sector peers

Solvency

better than 21%

← weakest strongest →

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 15-10-2025, 76 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.

NBB · 4 filings

Deviation from the deadline

2025

not confirmed

2024

76 d late

2023

50 d late

2022

32 d late

2021

31 d late

← before the deadline after the deadline →

Checked, nothing found (1)

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

Financials · fiscal year 2024, micro schema

Equity

€51k▼ 7.7%

2023 · €55k

2021: €36k 2022: €48k 2023: €55k

2021 → 2024

Total assets

€256k▲ 8.6%

2023 · €236k

2021: €144k 2022: €136k 2023: €236k

2021 → 2024

Net result

€-4k

2023 · €7k

2021: €14k 2022: €12k 2023: €7k

2021 → 2024

Working capital

€-28k▲ 48.3%

2023 · €-53k

2021: €-44k 2022: €-39k 2023: €-53k

2021 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2021202220232024Trend

Equity€36k-€48k▲ 34.0%€55k▲ 14.0%€51k▼ 7.7%

Operating result€19k-€16k▼ 17.2%€13k▼ 18.2%€2k▼ 87.9%

Net result€14k-€12k▼ 15.0%€7k▼ 44.9%€-4k

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has fallen three years in a row; 2024 is 88% below 2023 and is the lowest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €256k

30.5%

69.5%

Fixed assets €78k ▼ 27.8%

Current assets €178k ▲ 39.5%

Equity and liabilities €256k

19.8%

80.2%

Equity €51k ▼ 7.7%

Debt €205k ▲ 13.5%

Debt's share of the balance-sheet total rises from 76.8% to 80.2%. Equity is lower and debt is higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€27k▼

2023 · €39k

Cash flow

€21k▼

2023 · €33k

Current ratio

0.87▲

2023 · 0.70

Debt to equity

4.06▲

2023 · 3.30

ROE

-8.3%▼

2023 · 12.3%

ROA

-1.6%▼

2023 · 2.9%

Interest coverage

32.98▼

2023 · 55.91

Debt ≤ 1 year

€205k▲

2023 · €181k

Income taxes

€5k▼

2023 · €6k

Staff costs

€502k▲

2023 · €274k

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 · 2024 against 2023 · 40 lines

Balance sheet Code20232024

Assets

Total assets20/58€236k€256k▲

Fixed assets21/28€108k€78k▼

Tangible fixed assets22/27€108k€78k▼

Plant, machinery and equipment23€31k€23k▼

Furniture and vehicles24€78k€55k▼

Current assets29/58€127k€178k▲

Amounts receivable within one year40/41€114k€134k▲

Trade receivables40€114k€105k▼

Other amounts receivable41-€29k

Cash at bank and in hand54/58€13k€12k▼

Deferred charges and accrued income490/1-€32k

Equity and liabilities

Total equity and liabilities10/49€236k€256k▲

Equity10/15€55k€51k▼

Contributions10/11€22k€22k=

Outside capital11€22k€22k=

Other1109/19€22k€22k=

Profit (loss) carried forward14€33k€29k▼

Amounts payable17/49€181k€205k▲

Amounts payable within one year42/48€181k€205k▲

Trade debts44€156k€186k▲

Suppliers440/4€156k€186k▲

Taxes, remuneration and social security45€21k€20k▼

Taxes450/3€18k€19k▲

Remuneration and social security454/9€3k€117▼

Other amounts payable47/48€4k-

Income statement Code20232024

Remuneration, social security and pensions62€274k€502k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€26k▼

Other operating charges640/8€9k€9k▲

Gross operating margin9900€321k€538k▲

Operating profit (loss)9901€13k€2k▼

Financial income75/76B€1€3▲

Recurring financial income75€1€3▲

Financial charges65/66B€695€822▲

Recurring financial charges65€695€822▲

Profit (loss) for the period before taxes9903€12k€749▼

Income taxes67/77€6k€5k▼

Profit (loss) for the period9904€7k€-4k▼

Profit (loss) for the period to be appropriated9905€7k€-4k▼

Appropriation of the result

Profit (loss) to be appropriated9906€33k€29k▼

Profit (loss) brought forward from the previous period14P€27k€33k▲

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 5Financial 1Filings 4

2025

15-10

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 76 days late

2024

31-12

Financial Weakest financial yearnet €-4k ▼163%

Net result drops to €-4k, the lowest in the series.

19-09

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 50 days late

2023

01-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 32 days late

2022

31-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 31 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

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, Antwerpen · 1 establishment unit since 2021

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Sint-Laureisstraat 102018 Antwerpen

Ground area

81 m²

Building footprint

81 m²

Volume, LiDAR

1,065 m³

Parcel 11810K1705/00P004, Flanders · tallest building 15.8 m, ±5 floors. Linked by address, not a title deed.

1 establishment unit

Railways &Co

Sint-Laureisstraat 10, 2018 AntwerpenConstruction of roads and motorways

since 20212.314.587.967

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11810K1705/00P004	Flanders	81 m²	1 · 81 m²	15.8 m · 5 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

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

Similar companies · same sector, comparable size

GD AANNEMINGEN

BE 0803.327.076

Diepenbeek · Eq €50,813

BELINDUS

BE 0774.652.985

Antwerpen · Eq €50,245

Of 2,327 companies in sector 42110 we hold annual accounts for 1,097. 660 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded16-03-2021

Fiscal year end31-12

Activities, NACEBEL 2025

42110Construction of roads and motorways

43120Site preparation

42120Civil engineering

42220Construction of utility projects for electricity and telecommunications

43211General electrical installation work

Sources

Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers

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