RAM GROUP
ActiveSummary
RAM GROUP has been active since 2012 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €145,483 and a net result of €23,687, of which €12,965 non-recurring income. Equity has been growing by about 14% per year since 2019. Its solvency ranks better than 66% of 5,897 sector peers (NACE 49, financial year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 14-12-2012 Normal situation
- Registered office
- 308 active companies are registered at this address 15 started in the 12 months before. Source: KBO register, as of 3 November 2026.
- Activity
- Non-scheduled passenger transport by road NACE 49320and 2 others
- Establishment unit
- 2.214.963.326 1180 Ukkel, since 21-12-2012
- Financial year end
- 31 October
- Peppol
- Reachable since 09-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.8%
- Turnover
- €271,468
- ▲ 3.7%
- Profit
- €23,687
- ▼ 18.8%
- Equity
- €145,483
- ▲ 11.2%
- Total assets
- €269,824
- ▼ 16.3%
- Staff
- ≈ 0.3 FTE
- estimated
- 2025 accounts filed 1 day after the deadline
Score breakdownraises riskSize: turnover €271,468, total assets €269,824Sector: Land transport and transport via pipelines (NACE 49)Liquidity: current ratio 2.45, cash €4,387lowers riskFounded in 2012Show the evidence
Checked score
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, micro). It does better than 66% of them on solvency, 34% on liquidity, 72% on profitability and 50% on growth.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 6 days before the deadline. In the sector (NACE 49), the median for financial year 2024 was on the deadline day, and 49% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 1 day after the deadline Filed on 1 June 2026, deadline 31 May 2026 (7 months after the close on 31 October 2025, Companies Code art. 3:10). Source: NBB, 2026-00129053.
Annual accounts 2025 filed on 01-06-2026 PDF all 12 filings
Every figure per financial year
The operating result for 2025 is 14% lower than in 2024. It is the second fall in a row.
Investments
| Item | 31-10-2021 | 31-10-2022 | 31-10-2023 | 31-10-2024 | 31-10-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,470 | €40,828 | €14,819 | €47,132 | - |
| Depreciation and write-downs of the year | €5,333 | €13,920 | €16,107 | €19,106 | €15,356 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €92,841 | €96,679 | €84,855 | €118,515 | €294,768 | €261,858 | €271,468 | ▲ 3.7% |
| Non-recurring operating income76A | - | - | - | - | - | - | €12,965 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €52,936 | €88,102 | €232,862 | €200,984 | €222,688 | ▲ 10.8% |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €11,400 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,287 | €10,787 | €5,333 | €13,920 | €16,107 | €19,106 | €15,356 | ▼ 19.6% |
| Other operating charges640/8 | - | - | €1,978 | €5,784 | €4,266 | €2,644 | €1,491 | ▼ 43.6% |
| Gross operating margin9900 | €42,697 | €63,866 | €31,919 | €30,414 | €61,906 | €60,874 | €61,745 | ▲ 1.4% |
| Operating profit (loss)9901 | €31,437 | €52,633 | €24,608 | €10,710 | €41,533 | €39,124 | €33,498 | ▼ 14.4% |
| Financial income75/76B | - | - | - | - | - | €0 | €95 | ▲ 9,500× |
| Recurring financial income75 | €20 | - | - | - | - | €0 | €95 | ▲ 9,500× |
| Financial charges65/66B | - | - | €529 | €1,116 | €712 | €1,589 | €2,677 | ▲ 68.4% |
| Recurring financial charges65 | €1,631 | €1,373 | €529 | €1,116 | €712 | €1,589 | €2,677 | ▲ 68.4% |
| Profit (loss) for the period before taxes9903 | €29,826 | €51,259 | €24,078 | €9,594 | €40,820 | €37,534 | €30,917 | ▼ 17.6% |
| Income taxes67/77 | €3,888 | €7,156 | €7,476 | €4,252 | €7,640 | €8,346 | €7,229 | ▼ 13.4% |
| Profit (loss) for the period9904 | €25,938 | €44,103 | €16,602 | €5,342 | €33,181 | €29,188 | €23,687 | ▼ 18.8% |
| Profit (loss) for the period to be appropriated9905 | €25,938 | €44,103 | €16,602 | €5,342 | €33,181 | €29,188 | €23,687 | ▼ 18.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €146,552 | €153,916 | €175,039 | €233,812 | €245,287 | €322,332 | €269,824 | ▼ 16.3% |
| Fixed assets21/28 | €14,610 | €6,823 | €4,960 | €31,868 | €30,580 | €58,606 | €42,215 | ▼ 28.0% |
| Tangible fixed assets22/27 | €14,235 | €6,448 | €4,585 | €31,493 | €30,205 | €58,231 | €41,840 | ▼ 28.1% |
| Plant, machinery and equipment23 | - | - | - | - | €1,499 | €1,178 | €857 | ▼ 27.3% |
| Furniture and vehicles24 | - | - | €4,585 | €31,493 | €28,706 | €57,053 | €40,983 | ▼ 28.2% |
| Financial fixed assets28 | €375 | €375 | €375 | €375 | €375 | €375 | €375 | = |
| Current assets29/58 | €131,942 | €147,093 | €170,079 | €201,944 | €214,707 | €263,726 | €227,609 | ▼ 13.7% |
| Amounts receivable within one year40/41 | €127,893 | €136,872 | €160,338 | €201,003 | €205,582 | €257,038 | €222,526 | ▼ 13.4% |
| Trade receivables40 | - | - | €15,022 | €47,946 | €44,037 | €86,028 | €42,725 | ▼ 50.3% |
| Other amounts receivable41 | - | - | €145,315 | €153,057 | €161,545 | €171,010 | €179,801 | ▲ 5.1% |
| Cash at bank and in hand54/58 | €3,205 | €9,063 | €8,658 | - | €8,881 | €6,441 | €4,387 | ▼ 31.9% |
| Deferred charges and accrued income490/1 | - | - | €1,084 | €941 | €245 | €246 | €697 | ▲ 183% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €146,552 | €153,916 | €175,039 | €233,812 | €245,287 | €322,332 | €269,824 | ▼ 16.3% |
| Equity10/15 | €62,379 | €76,482 | €93,084 | €98,427 | €116,607 | €130,795 | €145,483 | ▲ 11.2% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €54,319 | €68,422 | €85,024 | €90,367 | €108,547 | €122,735 | €137,423 | ▲ 12.0% |
| Amounts payable17/49 | €84,173 | €77,434 | €81,954 | €135,386 | €128,680 | €191,536 | €124,341 | ▼ 35.1% |
| Amounts payable after more than one year17 | €7,165 | €787 | - | €12,925 | €13,747 | €42,533 | €31,590 | ▼ 25.7% |
| Financial debts170/4 | - | - | - | €12,925 | €13,747 | €42,533 | €31,590 | ▼ 25.7% |
| Amounts payable within one year42/48 | €77,008 | €76,647 | €81,954 | €122,460 | €114,933 | €149,004 | €92,752 | ▼ 37.8% |
| Current portion of amounts payable after more than one year42 | - | - | €787 | €10,896 | €14,383 | €12,686 | €10,939 | ▼ 13.8% |
| Financial debts43 | - | - | - | €387 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €387 | - | - | - | - |
| Trade debts44 | €39,357 | €23,327 | €53,991 | €92,878 | €54,352 | €106,422 | €21,406 | ▼ 79.9% |
| Suppliers440/4 | - | - | €52,044 | €41,597 | €54,352 | €106,422 | €21,406 | ▼ 79.9% |
| Bills of exchange payable441 | - | - | €1,946 | €51,281 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | €27,177 | €18,300 | €30,924 | €14,896 | €51,406 | ▲ 245% |
| Taxes450/3 | - | - | €14,688 | €5,925 | €15,605 | €11,405 | €14,199 | ▲ 24.5% |
| Remuneration and social security454/9 | - | - | €12,489 | €12,375 | €15,318 | €3,491 | €37,207 | ▲ 966% |
| Other amounts payable47/48 | - | - | - | - | €15,274 | €15,000 | €9,000 | ▼ 40.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,938 | €44,103 | €16,602 | €5,342 | €33,181 | €29,188 | €23,687 | ▼ 18.8% |
| + Depreciation and write-downs630 | €10,287 | €10,787 | €5,333 | €13,920 | €16,107 | €19,106 | €15,356 | ▼ 19.6% |
| Operating cash flow (approximation) | €36,225 | €54,891 | €21,935 | €19,262 | €49,288 | €48,294 | €39,044 | ▼ 19.2% |
| Investment in fixed assets (approximation) | - | -€3,000 | -€3,470 | -€40,828 | -€14,819 | -€47,132 | €1,035 | - |
| Change in cash | - | €5,858 | -€406 | - | - | -€2,439 | -€2,055 | ▲ 15.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as RAM GROUP has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of RAM GROUP itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for RAM GROUP. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-10-2025 | micro format | 01-06-2026 | 2026-00129053 | |
| 31-10-2024 | micro format | 31-05-2025 | 2025-00120112 | |
| 31-10-2023 | micro format | 31-05-2024 | 2024-00114833 | |
| 31-10-2022 | micro format | 20-05-2023 | 2023-00094714 | |
| 31-10-2021 | micro format | 09-05-2022 | 2022-20024140 | |
| 31-10-2020 | micro format | 25-05-2021 | 2021-15000255 | |
| 31-10-2019 | micro format | 29-05-2020 | 2020-13800085 | |
| 31-10-2018 | micro format | 31-05-2019 | 2019-15600098 | |
| 31-10-2017 | micro format | 28-05-2018 | 2018-14500479 | |
| 31-10-2016 | full format | 29-05-2017 | 2017-14200490 |
Timeline
Acts, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0501.998.655
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21614E0126/00A002 | Brussels | 1,616 m² | 1 · 1,089 m² | 12.7 m · 2 |