RAPH MANAGEMENT
ActiveFrom 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
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
- 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%
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
About 5 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 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
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)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 26-04-2026 PDF all 15 filings
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.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
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).
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.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| RAPH MANAGEMENT Elsene | 2010 | €1.1m | €0.4m | €0.2m | €0.09m | - | 2025 |
| VITALACTA TRADING Sint-Pieters-Woluwe | 2009 | €1.1m | €1.0m | €0.2m | €0.1m | - | 2025 |
| FuriousFifties Schoten | 2009 | €1.0m | €0.2m | €0.2m | €0.07m | - | 2025 |
| PARTNERS FOR LIFE Ukkel | 2007 | €1.1m | €1.0m | €0.2m | €0.1m | - | 2025 |
| BVZ Kortenberg | 2009 | €0.8m | €0.6m | €0.2m | €0.1m | - | 2025 |
| Workitects Leuven | 2009 | €0.8m | €0.6m | €0.2m | -€0.004m | 2 | 2025 |
| ENRA Leuven | 2011 | €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 observationIn 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
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.
| 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| 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% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| 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% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| 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.
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 | |
| 30-09-2024 | full format | 30-04-2025 | 2025-00089492 | |
| 30-09-2023 | full format | 26-04-2024 | 2024-00079963 | |
| 30-09-2022 | micro format | 27-04-2023 | 2023-00067431 | |
| 30-09-2021 | micro format | 29-04-2022 | 2022-20018393 | |
| 30-09-2020 | micro format | 30-04-2021 | 2021-13000569 | |
| 30-09-2019 | micro format | 15-05-2020 | 2020-12200361 | |
| 30-09-2018 | micro format | 29-11-2019 | 2019-74900588 | |
| 30-09-2017 | micro format | 28-05-2018 | 2018-15500595 | |
| 30-09-2016 | full format | 29-05-2017 | 2017-13500366 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 29-01-2025 Converted to unavailable equity · €14,360
- 29-01-2025 Converted to uncalled contributions · €6,100
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| PLUTA Raphaël |
|
| Guillaume VAN MEERBEECK |
|
| Fanny ABRASSART |
|
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 sociét锓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 mandateConnections & network
1 current directorThe board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
Timeline
Acts, filings and financial milestones
07-07
Gazette deed
Registered officeRegistered-office move2 points ▸
- Board meeting, 12-02-2026
- Registered-office move, Chaussée d'Ixelles 120, 1050 Ixelles
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.
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
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 202511 activities
- 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, …
- La gestion temporaire ou permanente de sociétés; recevoir, exercer ou concéder un mandat de gestion ou de management d'autres sociétés ou associations;
- Accepter et exercer un mandat d'administrateur de gérant ou de liquidateur dans toutes sociétés, quel que soit son objet.
- 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;
- Effectuer tous travaux administratifs et de secrétariat;
- Elle peut constituer toute hypothèque ou toute autre sûreté réelle sur les biens sociaux où se porter caution au profit de tiers.
- 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;
- 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.
- Elle peut donner tous cours ou stages concernant les activités décrites ci-dessus.
- Elle peut prendre, acquérir, exploiter ou céder tous procédés, licences, brevets, concernant ces activités.
- 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.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
1 establishment unit
Buildings and parcels at the addresses
2 parcels
| 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 |