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RAPH MANAGEMENT

Active
Private limited companyfounded 2010active for 16 yearsElsense Steenweg 120, 1050 Elsene, BelgiumKBO/BCE: BE 0826.114.356

From the official registers: KBO 15 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

RAPH MANAGEMENT has been active since 2010 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €371,767 and a net result of €89,126. Equity has been growing by about 36% per year since 2019. Its solvency ranks better than 41% of 844 sector peers (NACE 73, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (low).

Overview

Overview

Official details

KBO
Status
Active since 25-05-2010 Normal situation
Activity
Market research and public opinion polling NACE 73200and 1 other
Establishment unit
2.199.021.375 1000 Brussel, since 15-06-2010
Financial year end
30 September
Peppol
Reachable since 30-01-2026

Board and ownership

Board

Financial position

80 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.5%
Annual accounts to 30-09-2025
Gross margin
€190,965
▲ 21.8%
Turnover
≈ €350,000
estimated
Profit
€89,126
▲ 10.0%
Equity
€371,767
▲ 31.5%
Total assets
€1.1m
▲ 36.9%
Filed on 26-04-2026, 4 days before the deadlinePDF
Score breakdownraises riskLiquidity: current ratio 0.91, cash €2,6681 change of registered office in 24 monthslowers riskSize: total assets €1.1mFigures for financial year 2025 (filed on 28-04-2026)Show the evidence

Checked score

Score 2025
80 / 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 43% of micro companies in advertising and market research (NACE 73)
Financial strength · tick: 2024
Average
Solvency 59-2
equity 34.2% of total assets
Liquidity 43-2
short-term debt 21.2% · cash 0.2%
Profitability 58-2
return on assets 8.2%
Bankruptcy probability within 12 months
0.5% Low
0%0.5%1.5%4%10%≥ 25%

About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (11,227 companies, NACE 73, micro)
Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.2%▲ +0.1 percentage points vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.5%▲ +0.3 percentage points vs 04-2025 06-2025: 0.1%▼ -0.4 percentage points vs 05-2025 07-2025: 0.1%● unchanged vs 06-2025 08-2025: 0.1%● unchanged vs 07-2025 09-2025: 0.1%● unchanged vs 08-2025lowest value 10-2025: 0.1%● unchanged vs 09-2025lowest value 11-2025: 0.1%● unchanged vs 10-2025 12-2025: 0.1%● unchanged vs 11-2025 01-2026: 0.1%● unchanged vs 12-2025 02-2026: 0.1%● unchanged vs 01-2026 03-2026: 0.1%● unchanged vs 02-2026 04-2026: 0.2%▲ +0.1 percentage points vs 03-2026 05-2026: 0.2%● unchanged vs 04-2026 06-2026: 0.2%● unchanged vs 05-2026 07-2026: 0.2%● unchanged vs 06-2026 08-2026: 0.5%▲ +0.3 percentage points vs 07-2026 09-2026: 0.5%● unchanged vs 08-2026 10-2026: 0.5%● unchanged vs 09-2026highest value
Credit of up to €25,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.91 (0.93 in 2024), below 1. Short-term debt is 21.2% and cash 0.2% of total assets. 65.8% of the assets are financed with debt and provisions.
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 73, micro). It does better than 37% of them on solvency, 26% on liquidity, 32% on profitability and 77% on growth.

The bankruptcy probability was computed on 31-10-2026 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

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 0.91, cash €2,668
NBB · annual accounts
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
lowers risk · Size: total assets €1.1m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Figures for financial year 2025 (filed on 28-04-2026)
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-04-2026, 4 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
4 days early
2024
on the day
2023
4 days early
2022
3 days early
2021
1 day early
2020
on the day
2019
15 days late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average on the deadline day. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 27 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
30-09-2026 year end01-11-2026 today30-04-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Financials

Financials · financial year 2025, full format

Annual accounts 2025 filed on 26-04-2026 PDF all 15 filings

Turnover
≈ €350,000
Estimated: probably between €270,000 and €700,000
EBIT margin
Not included in this filing
Net result
€89,126▲ 10.0%
2024 · €81,024
Working capital
-€20,450▼ 88.3%
2024 · -€10,859
Trend over the years

2021 to 2025, 5 financial years 2019 to 2025, 7 financial years

The operating result for 2025 is 25% higher than in 2024. It is a recovery after the fall in 2024.

Operating result€0.2m 2025 Net result€0.09m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line2019202020212022202320242025
Operating result-€0.1m-€0.2m€0.2m▲ 10.4%€0.1m▼ 43.0%€0.1m▲ 25.7%€0.1m▼ 3.1%€0.2m▲ 25.1%
Net result-€0.1m-€0.1mabove the sector's middle half€0.1mabove the sector's middle half▲ 3.1%€0.05mabove the sector's middle half▼ 61.1%€0.08mwithin the sector's middle half▲ 62.7%€0.08mwithin the sector's middle half▼ 0.7%€0.09mwithin the sector's middle half▲ 10.0%
Equity-€0.06m-€0.06mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 123%€0.2mabove the sector's middle half▲ 40.2%€0.2mwithin the sector's middle half▲ 29.5%€0.3mwithin the sector's middle half▲ 24.7%€0.4mwithin the sector's middle half▲ 31.5%
Total assets€0.8m-€0.8mabove the sector's middle half▲ 3.6%€0.8mabove the sector's middle half▲ 5.8%€0.9mabove the sector's middle half▲ 6.5%€0.8mwithin the sector's middle half▼ 9.8%€0.8mwithin the sector's middle half=€1.1mwithin the sector's middle half▲ 36.9%
Debt€0.5m-€0.5m▼ 12.8%€0.5m▼ 0.9%€0.5m▲ 5.1%€0.4m▼ 23.7%€0.3m▼ 8.9%€0.6m▲ 66.7%
Working capital-€0.2m--€0.1mbelow the sector's middle half▲ 38.5%-€0.09mbelow the sector's middle half▲ 3.8%-€0.06mbelow the sector's middle half▲ 31.3%-€0.04mbelow the sector's middle half▲ 41.8%-€0.01mbelow the sector's middle half▲ 70.8%-€0.02mbelow the sector's middle half▼ 88.3%
Solvency-7.8%-7.1%below the sector's middle half▲ 15.0pp15.1%below the sector's middle half▲ 7.9pp19.8%below the sector's middle half▲ 4.8pp28.5%within the sector's middle half▲ 8.7pp35.6%within the sector's middle half▲ 7.1pp34.2%within the sector's middle half▼ 1.4pp
Current ratio0.16-0.35below the sector's middle half▲ 0.190.48below the sector's middle half▲ 0.130.72below the sector's middle half▲ 0.250.75below the sector's middle half▲ 0.020.93below the sector's middle half▲ 0.180.91below the sector's middle half▼ 0.02
Return on assets (ROA)-17.1%-16.0%within the sector's middle half▲ 33.1pp15.6%within the sector's middle half▼ 0.4pp5.7%within the sector's middle half▼ 9.9pp10.3%within the sector's middle half▲ 4.6pp10.2%within the sector's middle half▼ 0.1pp8.2%within the sector's middle half▼ 2.0pp
above within below The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets €877,450 ▲ 33.7%
Current assets €210,609 ▲ 51.9%
Equity and liabilities €1.1m
Equity €371,767 ▲ 31.5%
Provisions €145,611 ▼ 14.3%
Debt €570,681 ▲ 66.7%
Debt's share of the balance-sheet total rises from 43.1% to 52.4%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€183,351▲
2024 · €153,201
Cash flow
€117,913▲
2024 · €110,695
Debt to equity
1.54▲
2024 · 1.21
ROE
24.0%▼
2024 · 28.7%
Interest coverage
3.43▼
2024 · 3.47
Debt ≤ 1 year
€231,059▲
2024 · €149,495
Debt > 1 year
€338,873▲
2024 · €192,125
Income taxes
€38,214▲
2024 · €22,463
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as RAPH MANAGEMENT: market research and public opinion polling (NACE 73200). They are comparable in size and age: total assets between €804,000 and €1.1m, founded between 2007 and 2011.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
RAPH MANAGEMENT Elsene2010€1.1m€0.4m€0.2m€0.09m-2025
VITALACTA TRADING Sint-Pieters-Woluwe2009€1.1m€1.0m€0.2m€0.1m-2025
FuriousFifties Schoten2009€1.0m€0.2m€0.2m€0.07m-2025
PARTNERS FOR LIFE Ukkel2007€1.1m€1.0m€0.2m€0.1m-2025
BVZ Kortenberg2009€0.8m€0.6m€0.2m€0.1m-2025
Workitects Leuven2009€0.8m€0.6m€0.2m-€0.004m22025
ENRA Leuven2011€0.9m€0.8m€0.1m€0.08m-2026

They were chosen from the 1,742 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 17,811 companies had the same profile as RAPH MANAGEMENT has now. Two years later, 0.3% had gone bankrupt and 96.5% were still going.

  • Small
  • 10 to 20 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more
0.3% went bankrupt
3.1% stopped otherwise
96.5% was still going

That fits the bankruptcy probability of RAPH MANAGEMENT itself: 0.5% within 12 months.

Test of the method

The method was tested on the 497,445 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.

The companies in ten equal groups, from the lowest to the 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% 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 17,811 companies, not a prediction for RAPH MANAGEMENT. 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.

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 58 lines

Source: Annual accounts 2025 (PDF), filed on 26-04-2026.

Balance sheet Code20242025
Assets
Total assets20/58€0.8m€1.1m▲
Fixed assets21/28€0.7m€0.9m▲
Tangible fixed assets22/27€0.7m€0.6m▼
Land and buildings22€0.4m€0.4m▼
Plant, machinery and equipment23€0.2m€0.2m▼
Furniture and vehicles24€0.02m€0.02m▼
Financial fixed assets28-€0.3m
Current assets29/58€0.1m€0.2m▲
Amounts receivable within one year40/41€0.09m€0.2m▲
Trade receivables40€0.07m€0.1m▲
Other amounts receivable41€0.02m€0.05m▲
Current investments50/53€0.04m€0.04m=
Cash at bank and in hand54/58€0.003m€0.003m▼
Deferred charges and accrued income490/1€0.002m€0.002m▲
Equity and liabilities
Total equity and liabilities10/49€0.8m€1.1m▲
Equity10/15€0.3m€0.4m▲
Contributions10/11€0.01m€0.01m=
Reserves13€0.1m€0.2m▲
Non-distributable reserves130/1€0.002m€0.002m=
Reserves not available under the articles1311€0.002m€0.002m=
Distributable reserves133€0.1m€0.2m▲
Profit (loss) carried forward14€0.1m€0.2m▲
Provisions and deferred taxes16€0.2m€0.1m▼
Provisions for liabilities and charges160/5€0.2m€0.1m▼
Other liabilities and charges164/5€0.2m€0.1m▼
Amounts payable17/49€0.3m€0.6m▲
Amounts payable after more than one year17€0.2m€0.3m▲
Financial debts170/4€0.2m€0.3m▲
Amounts payable within one year42/48€0.1m€0.2m▲
Current portion of amounts payable after more than one year42€0.03m€0.07m▲
Financial debts43€0.01m€0.01m▲
Credit institutions430/8€0.01m€0.01m▲
Trade debts44€0.004m€0.02m▲
Suppliers440/4€0.004m€0.02m▲
Taxes, remuneration and social security45€0.02m€0.05m▲
Taxes450/3€0.01m€0.03m▲
Remuneration and social security454/9€0.01m€0.02m▲
Other amounts payable47/48€0.07m€0.07m▼
Accrued charges and deferred income492/3€0.001m€0.001m▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.03m€0.03m▼
Other operating charges640/8€0.004m€0.008m▲
Gross operating margin9900€0.2m€0.2m▲
Operating profit (loss)9901€0.1m€0.2m▲
Financial income75/76B€0.02m€0.03m▲
Recurring financial income75€0.001m€0.002m▲
Non-recurring financial income76B€0.02m€0.02m▲
Financial charges65/66B€0.04m€0.05m▲
Recurring financial charges65€0.04m€0.05m▲
Profit (loss) for the period before taxes9903€0.1m€0.1m▲
Income taxes67/77€0.02m€0.04m▲
Profit (loss) for the period9904€0.08m€0.09m▲
Profit (loss) for the period to be appropriated9905€0.08m€0.09m▲
Appropriation of the result
Profit (loss) to be appropriated9906€0.2m€0.2m▲
Profit (loss) brought forward from the previous period14P€0.1m€0.1m▲
Transfer to equity691/2€0.04m€0.02m▼
To other reserves6921€0.04m€0.02m▼
Profit to be distributed694/7€0.03m-
Directors or managers695€0.03m-

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line2019202020212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€89,696€29,313€33,180€31,618€30,431€29,672€28,788▼ 3.0%
Other operating charges640/8--€5,550€5,471€4,006€3,569€7,614▲ 113%
Gross operating margin9900€125,708€199,772€216,683€138,464€161,914€156,770€190,965▲ 21.8%
Operating profit (loss)9901-€95,735€161,215€177,953€101,375€127,477€123,530€154,564▲ 25.1%
Financial income75/76B--€20,056€22,098€22,603€24,054€26,179▲ 8.8%
Recurring financial income75-€354€834€1,726€1,009€1,161€1,903▲ 63.8%
Non-recurring financial income76B--€19,222€20,372€21,594€22,893€24,276▲ 6.0%
Financial charges65/66B--€46,310€49,574€47,319€44,097€53,403▲ 21.1%
Recurring financial charges65€50,338€46,476€46,310€49,574€47,319€44,097€53,403▲ 21.1%
Non-recurring financial charges66B--€0-----
Profit (loss) for the period before taxes9903-€128,956€133,033€151,699€73,899€102,761€103,487€127,340▲ 23.0%
Income taxes67/77€320€7,996€22,735€23,750€21,152€22,463€38,214▲ 70.1%
Profit (loss) for the period9904-€129,276€125,037€128,964€50,148€81,609€81,024€89,126▲ 10.0%
Profit (loss) for the period to be appropriated9905-€129,276€125,037€128,964€50,148€81,609€81,024€89,126▲ 10.0%
Line2019202020212022202320242025Change
Assets
Total assets20/58€0.8m€0.8m€0.8m€0.9m€0.8m€0.8m€1.1m▲ 36.9%
Fixed assets21/28€0.7m€0.7m€0.7m€0.7m€0.7m€0.7m€0.9m▲ 33.7%
Tangible fixed assets22/27€0.7m€0.7m€0.7m€0.7m€0.7m€0.7m€0.6m▼ 4.4%
Land and buildings22--€0.4m€0.4m€0.4m€0.4m€0.4m▼ 2.8%
Plant, machinery and equipment23--€0.3m€0.3m€0.3m€0.2m€0.2m▼ 7.0%
Furniture and vehicles24--€0.02m€0.02m€0.02m€0.02m€0.02m▼ 4.5%
Financial fixed assets28------€0.3m-
Current assets29/58€0.03m€0.05m€0.08m€0.2m€0.1m€0.1m€0.2m▲ 51.9%
Amounts receivable within one year40/41€0.009m€0.05m€0.06m€0.1m€0.06m€0.09m€0.2m▲ 78.7%
Trade receivables40--€0.04m€0.1m€0.04m€0.07m€0.1m▲ 56.1%
Other amounts receivable41--€0.02m€0.02m€0.02m€0.02m€0.05m▲ 170%
Current investments50/53--€0.02m€0.04m€0.04m€0.04m€0.04m=
Cash at bank and in hand54/58€0.02m€0.002m€0.002m€0.002m€0.005m€0.003m€0.003m▼ 23.5%
Deferred charges and accrued income490/1--€0.003m€0.003m€0.002m€0.002m€0.002m▲ 6.1%
Equity and liabilities
Total equity and liabilities10/49€0.8m€0.8m€0.8m€0.9m€0.8m€0.8m€1.1m▲ 36.9%
Equity10/15-€0.06m€0.06m€0.1m€0.2m€0.2m€0.3m€0.4m▲ 31.5%
Contributions10/11€0.01m€0.01m€0.01m€0.01m€0.01m€0.01m€0.01m=
Capital10--€0.01m-----
Issued capital100--€0.02m-----
Uncalled capital101--€0.006m-----
Reserves13€0.002m€0.002m€0.002m€0.05m€0.09m€0.1m€0.2m▲ 15.2%
Non-distributable reserves130/1--€0.002m€0.002m€0.002m€0.002m€0.002m=
Legal reserve130--€0.002m-----
Reserves not available under the articles1311---€0.002m€0.002m€0.002m€0.002m=
Distributable reserves133---€0.05m€0.09m€0.1m€0.2m▲ 15.4%
Profit (loss) carried forward14-€0.07m€0.04m€0.1m€0.1m€0.1m€0.1m€0.2m▲ 50.0%
Provisions and deferred taxes16€0.3m€0.3m€0.2m€0.2m€0.2m€0.2m€0.1m▼ 14.3%
Provisions for liabilities and charges160/5--€0.2m€0.2m€0.2m€0.2m€0.1m▼ 14.3%
Other liabilities and charges164/5--€0.2m€0.2m€0.2m€0.2m€0.1m▼ 14.3%
Amounts payable17/49€0.5m€0.5m€0.5m€0.5m€0.4m€0.3m€0.6m▲ 66.7%
Amounts payable after more than one year17€0.4m€0.3m€0.3m€0.3m€0.2m€0.2m€0.3m▲ 76.4%
Financial debts170/4--€0.3m€0.3m€0.2m€0.2m€0.3m▲ 76.4%
Amounts payable within one year42/48€0.2m€0.1m€0.2m€0.2m€0.1m€0.1m€0.2m▲ 54.6%
Current portion of amounts payable after more than one year42--€0.03m€0.03m€0.03m€0.03m€0.07m▲ 117%
Financial debts43---€0.03m€0.01m€0.01m€0.01m▲ 0.1%
Credit institutions430/8---€0.03m€0.01m€0.01m€0.01m▲ 0.1%
Trade debts44€0.002m€471€0.01m€0.06m€0.01m€0.004m€0.02m▲ 431%
Suppliers440/4--€0.01m€0.06m€0.01m€0.004m€0.02m▲ 431%
Taxes, remuneration and social security45--€0.02m€0.02m€0.01m€0.02m€0.05m▲ 121%
Taxes450/3--€0.02m€0.02m€0.01m€0.01m€0.03m▲ 137%
Remuneration and social security454/9-----€0.01m€0.02m▲ 100%
Other amounts payable47/48--€0.1m€0.08m€0.08m€0.07m€0.07m▼ 1.7%
Accrued charges and deferred income492/3---€0.001m€0.001m€0.001m€0.001m▲ 3.2%
Line2019202020212022202320242025Change
Profit (loss) for the period9904-€129,276€125,037€128,964€50,148€81,609€81,024€89,126▲ 10.0%
+ Depreciation and write-downs630€89,696€29,313€33,180€31,618€30,431€29,672€28,788▼ 3.0%
Operating cash flow (approximation)-€39,581€154,350€162,144€81,766€112,041€110,695€117,913▲ 6.5%
Investment in fixed assets (approximation)--€35,322-€46,299-€2,449-€875-€916-€250,000▼ 27,191%
Change in cash--€18,672€196-€577€3,569-€1,988-€818▲ 58.8%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

Download as CSV

Latest 10 of 15 filings with the National Bank
Financial year Type Filed Reference Document
30-09-2025 full format 26-04-2026 2026-00089302 PDF
30-09-2024 full format 30-04-2025 2025-00089492 PDF
30-09-2023 full format 26-04-2024 2024-00079963 PDF
30-09-2022 micro format 27-04-2023 2023-00067431 PDF
30-09-2021 micro format 29-04-2022 2022-20018393 PDF
30-09-2020 micro format 30-04-2021 2021-13000569 PDF
30-09-2019 micro format 15-05-2020 2020-12200361 PDF
30-09-2018 micro format 29-11-2019 2019-74900588 PDF
30-09-2017 micro format 28-05-2018 2018-15500595 PDF
30-09-2016 full format 29-05-2017 2017-13500366 PDF

Show all 15 filings

Board & ownership

Directors

Directors
1 director, last change in 2025
PLUTA Raphaël
Director · since 19-05-2010 · listed in the 2025 annual accounts, filed on 26-04-2026
Current
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 29-01-2025

Owners and capital

Capital transactions

Capital over time
  1. 29-01-2025 Converted to unavailable equity · €14,360
  2. 29-01-2025 Converted to uncalled contributions · €6,100

Mandate history

3 people, 1 in office
Show
  • Board
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
PLUTA Raphaël
  • Director, since before 29-01-2025
Guillaume VAN MEERBEECK
  • Director, appointed in the act of 17-08-2023, until 29-01-2025
Fanny ABRASSART
  • Director, until 30-06-2023
See the board, name and registered office on a given date →

Articles of association

Board and representation

Board ruleThese rules set how the board is made up, meets and takes decisions.
“Nommés avec ou sans limitation de durée, un ou plusieurs administrateurs, personnes physiques ou morales, actionnaires ou non”

Capital, shares and profit

Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
“Le registre des actions pourra être tenu en la forme électronique, les titulaires d'actions peuvent prendre connaissance de ce registre…”
“En cas de décès de l'actionnaire unique, les droits afférents aux actions sont exercés par les héritiers et légataires régulièrement saisis…”
Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
“Les lettres peuvent être valablement adressées aux actionnaires à la dernière adresse connue de la société”
“La demande d'agrément sera faite par le ou les héritiers ou par les légataires des actions, autres que ceux visés au point A/, ils peuvent…”
“Au cas où la société ne compterait plus qu'un actionnaire, celui-ci sera libre de céder tout ou partie de ses actions librement”
Share issue ruleThe articles set how and by whom new shares are issued.
“Tout versement appelé s'impute sur l'ensemble des actions dont l'actionnaire est titulaire, l'organe d'administration peut autoriser les…”
“Courrier électronique, ou, pour les personnes dont elle ne dispose pas d'une adresse électronique, par courrier ordinaire, à envoyer le même…”

Audit, dissolution and liquidation

Dissolution ruleThe articles set when and by whom the company can be dissolved.
“Dissolution, en tout temps”

Articles of association, deed of 29-01-2025 (in French)

Network & group

Board mandates elsewhere

1 board mandate
Board mandates of RAPH MANAGEMENTRAPH MANAGEMENT sits on their board1
8 locations

Connections & network

1 current director
Depth

The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.

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

Timeline

Acts, filings and financial milestones

Deadline for the 2026 accounts: 30-04-2027
2026
07-07
Gazette deed Registered office
Registered-office move2 points ▸
  • Board meeting, 12-02-2026
  • Registered-office move, Chaussée d'Ixelles 120, 1050 Ixelles

Open the act in the Belgian Official Gazette

26-04
NBB filing Annual accounts filedPDF
financial year 2025 · full format
2025
30-04
NBB filing Annual accounts filedPDF
financial year 2024 · full format
29-01
Gazette deed Resignation: VAN MEERBEECK Guillaume (director and permanent representative)
Reappointment: PLUTA Raphaël (director) · Permanent representative: PLUTA Raphaël · Amendment of the articles14 points ▸
  • General meeting, 17-01-2025
  • Amendment of the articles, mentioned 2 times in the deed
  • Other provision, “dispense de lecture du rapport de l'organe d'administration, tous les actionnaires reconnaissant avoir reçu copie de ce rapport et en avoir pris connaissance” (deed in French)
  • Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
  • Capital conversion, “compte de capitaux propres 'apports non appelés'” (deed in French)
  • Reserve release, “vale également pour les éventuels versements futurs de la part non encore libérée à ce jour du capital de la société souscrit dans le passé qui a été inscrit su…” (deed in French)
  • Capital
  • Director resignation, VAN MEERBEECK Guillaume (director and permanent representative)
  • Director discharge, VAN MEERBEECK Guillaume
  • Director reappointment, PLUTA Raphaël (director)
  • Permanent representative, PLUTA Raphaël
  • Registered office clause, “1000 Bruxelles, Rue des Pierres”, 20 (deed in French)
  • The act holds 2 more points.

Open the act in the Belgian Official Gazette

2024
26-04
NBB filing Annual accounts filedPDF
financial year 2023 · full format
2023
30-09
Financial Equity above €200,000equity €226,617 ▲29.5%
After 4 profitable years in a row, equity reaches €226,617.
17-08
Gazette deed Resignation: Fanny ABRASSART (director)
Permanent representatives: Fanny ABRASSART and Guillaume VAN MEERBEECK · Appointment: Guillaume VAN MEERBEECK (director)5 points ▸
  • General meeting, 21-06-2023
  • Director resignation, Fanny ABRASSART (director)
  • Permanent representative, Fanny ABRASSART
  • Director appointment, Guillaume VAN MEERBEECK (director)
  • Permanent representative, Guillaume VAN MEERBEECK

Open the act in the Belgian Official Gazette

27-04
NBB filing Annual accounts filedPDF
financial year 2022 · micro format
2022
30-09
Financial Equity above €150,000equity €175,008 ▲40.2%
After 3 profitable years in a row, equity reaches €175,008.
29-04
NBB filing Annual accounts filedPDF
financial year 2021 · micro format
2021
30-09
Financial Highest result from 2019 to 2025net €128,964 ▲3.1%
The operating result of €177,953 and the net result of €128,964 are both a record.
30-09
Financial Equity above €100,000equity €124,860 ▲123%
After 2 profitable years in a row, equity reaches €124,860.
Show earlier events
30-04
NBB filing Annual accounts filedPDF
financial year 2020 · micro format
2020
30-09
Financial Back to profitnet €125,037
The net result is €125,037, after one loss-making year.
15-05
NBB filing Annual accounts filedPDF
financial year 2019 · micro format · 15 days late
2019
29-11
NBB filing Annual accounts filedPDF
financial year 2018 · micro format · 213 days late
2018
28-05
NBB filing Annual accounts filedPDF
financial year 2017 · micro format · 28 days late
2017
29-05
NBB filing Annual accounts filedPDF
financial year 2016 · full format · 29 days late
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.

Sources:Publications in the Belgian Official GazetteFilings with the National Bank

History

On 25 May 2010, RAPH MANAGEMENT was incorporated.1 In 2026 the registered office moved to Ixelles.2 Total assets went from €754,791 in 2019 to €1.1m in 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 07-07-2026
  3. 3National Bank, annual accounts 2019 and 2025

Company details

Register details

Identity

KBO record
Name RAPH MANAGEMENT in French
Enterprise number 0826.114.356
Legal form Private limited company
Status Active, normale toestand
Founded 25-05-2010
Entity type Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 29-01-2025 (in French)

Registered office and establishments

Registered office Elsense Steenweg 120, 1050 Elsene, Belgium
Establishments 1 establishment unit since 2010

Activities

NACEBEL 2025
73200 Market research and public opinion polling main activity
74991 Agents and managers of artists, athletes and other public figures
PurposeThe purpose describes the activities the company may carry out under its articles.
“L'étude, le conseil, la consultation, l'expertise, l'optimalisation des sources d'approvisionnement en matières et marchandises, des moyens…”
11 activities
  1. L'étude, le conseil, la consultation, l'expertise, l'optimalisation des sources d'approvisionnement en matières et marchandises, des moyens de production, des stratégies commerciales, du recrutement de personnel, de la gestion des stocks en produits finis et marchandises, des sources et moyens de financement, de la gestion de la trésorerie, de la formation et de la motivation du personnel, des systèmes et méthodes informatiques, des méthodes et procédures de travail, l'assistance au management, …
  2. La gestion temporaire ou permanente de sociétés; recevoir, exercer ou concéder un mandat de gestion ou de management d'autres sociétés ou associations;
  3. Accepter et exercer un mandat d'administrateur de gérant ou de liquidateur dans toutes sociétés, quel que soit son objet.
  4. Effectuer toutes opérations commerciales, industrielles, immobilières notamment par voie de droits réels démembrés dont l'emphytéose, mobilières ou financières, se rattachant directement ou indirectement à son objet. Par conséquent, la société peut investir ses ressources pécuniaires dans des biens mobiliers, y compris les actifs numériques, et immobiliers et en assurer la gestion. La société peut donner à bail ses installations et exploitations ou le donner à gérer à des tiers en tout ou en partie. Elle pourra, notamment, procéder à l'achat, la vente, l'échange, la construction, la reconstruction, la mise en valeur, le lotissement, l'exploitation, la réparation, la transformation, le leasing immobilier, la location, la sous-location, le bail emphytéotique, l'affermage, la gestion, notamment technique et administrative, de tous les biens immeubles, bâtis ou non bâtis, en ce compris les aires de stockage, pour son compte et pour le compte d'autrui;
  5. Effectuer tous travaux administratifs et de secrétariat;
  6. Elle peut constituer toute hypothèque ou toute autre sûreté réelle sur les biens sociaux où se porter caution au profit de tiers.
  7. La gestion, dans le sens le plus large du terme, l'amélioration, et la mise en valeur du portefeuille et du patrimoine mobilier et immobilier qui lui sera apporté par ses associés ou qu'elle achètera autrement, la gestion pour compte de tiers de tous patrimoines ou biens quelconques, mobiliers ou immobiliers;
  8. Toutes opérations mobilières et notamment l'achat, la vente, la location et la gestion, de tous biens meubles, y compris les actifs numériques pour son compte.
  9. Elle peut donner tous cours ou stages concernant les activités décrites ci-dessus.
  10. Elle peut prendre, acquérir, exploiter ou céder tous procédés, licences, brevets, concernant ces activités.
  11. Elle peut réaliser toutes opérations généralement quelconques, commerciales, industrielles, financières, mobilières ou immobilières, ayant un rapport direct ou indirect avec son objet ou de nature à en favoriser la réalisation et le développement.

The full purpose is in the deed

deed of 29-01-2025 (in French)

Invoicing and payment

VAT number BE 0826.114.356
E-invoicing via Peppol
Reachable via Peppol
Peppol ID 0208:0826114356
Registered 30-01-2026

Follow this company and you will hear the next morning if it leaves the Peppol register.

Register as of 1 November 2026 · Peppol Directory

Financial year and general meeting

Accounts at the NBB
Financial year end 30-09
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Saturday of March at 09:00
deed of 29-01-2025 (in French)
Meeting ruleThe articles set how the company's meetings are run.
“Prorogation, l'organe d'administration”
deed of 29-01-2025 (in French)
Voting ruleThe articles set which majority the meeting decides by, for example a simple or a special majority.
“Tout actionnaire peut donner à toute autre personne, actionnaire ou non, par tout moyen de transmission, une procuration écrite pour le…”
deed of 29-01-2025 (in French)

Sites & property

Location
registered office establishment The establishment unit on the map
4 companies at this address See who is registered here
1 establishment unit
RAPH MANAGEMENT
Borgwal 7, 1000 BrusselBusiness and other management consultancy
since 2010unit number 2.199.021.375

Buildings and parcels at the addresses

Ground area
202 m²
Building footprint
126 m²
Building volume
2,316 m³
2 parcels, Brussels · tallest building 21.5 m.
2 parcels
Brussels 2 (100%)
Cadastral parcel Region Area Buildings Height / floors
21009A0971/00P000 Brussels 134 m² 1 · 64 m² 21.5 m · 6
21811M0970/00G002 Brussels 68 m² 1 · 62 m² 21.3 m · 6