RAPHUS
ActiveSummary
RAPHUS has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€3,410) and a net result of €14,638. Equity is shrinking by about 43% per year across the filed financial years. Its solvency ranks better than 15% of 2,477 sector peers (NACE 90, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Overview
- Staff
- 4 FTE
- Equity
- -€3,410
- Profit
- €14,638
Why 55raises riskCapped at 59: negative equityNegative equity -€3,410Founded in 2019lowers riskSector: Arts creation and performing arts activities (NACE 90)Size: total assets €132,495Show the evidence
Checked score
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 90, micro): better than 16% on solvency, 12% on liquidity, 54% on profitability and 89% 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 1 day before the deadline; the sector median (NACE 90) for financial year 2024 is 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Back to profitnet €14,638
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
After the dip in 2023 the operating result has climbed two years in a row; 2025 is over 27 times 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 90, Arts creation and performing arts activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 2,180 companies that looked in July 2024 the way this one looks now, 4.8% went bankrupt within 24 months and 88.8% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 2,180 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €64,283 | €110,784 | €174,773 | €194,114 | €107,421 | ▼ 44.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €940 | €595 | €2,687 | €4,702 | €4,679 | €6,949 | €6,643 | ▼ 4.4% |
| Other operating charges640/8 | - | - | €140 | €649 | €669 | €1,458 | €837 | ▼ 42.6% |
| Gross operating margin9900 | €47,319 | €25,770 | €46,979 | €129,905 | €178,056 | €203,152 | €132,093 | ▼ 35.0% |
| Operating profit (loss)9901 | -€14,915 | -€1,608 | -€20,131 | €13,770 | -€2,064 | €632 | €17,192 | ▲ 27× |
| Financial income75/76B | - | - | €1,329 | €0 | €18 | - | €2,396 | - |
| Recurring financial income75 | €1 | €10 | €1,329 | €0 | €18 | - | €2,396 | - |
| Financial charges65/66B | - | - | €1,626 | €1,277 | €1,323 | €6,759 | €4,735 | ▼ 29.9% |
| Recurring financial charges65 | €808 | €1,124 | €1,626 | €1,277 | €1,323 | €6,759 | €4,735 | ▼ 29.9% |
| Profit (loss) for the period before taxes9903 | -€15,722 | -€2,722 | -€20,428 | €12,493 | -€3,370 | -€6,127 | €14,853 | - |
| Income taxes67/77 | €67 | €116 | €110 | €120 | €138 | €221 | €216 | ▼ 2.7% |
| Profit (loss) for the period9904 | -€15,788 | -€2,838 | -€20,538 | €12,373 | -€3,508 | -€6,348 | €14,638 | - |
| Profit (loss) for the period to be appropriated9905 | -€15,788 | -€2,838 | -€20,538 | €12,373 | -€3,508 | -€6,348 | €14,638 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €28,549 | €17,294 | €37,475 | €70,033 | €69,815 | €180,245 | €132,495 | ▼ 26.5% |
| Fixed assets21/28 | €150 | €2,032 | €23,805 | €20,662 | €22,324 | €27,061 | €28,668 | ▲ 5.9% |
| Tangible fixed assets22/27 | - | €1,882 | €16,790 | €13,648 | €15,309 | €21,911 | €15,268 | ▼ 30.3% |
| Furniture and vehicles24 | - | - | €16,790 | €13,648 | €15,309 | €21,911 | €15,268 | ▼ 30.3% |
| Financial fixed assets28 | €150 | €150 | €7,015 | €7,015 | €7,015 | €5,150 | €13,400 | ▲ 160% |
| Current assets29/58 | €28,399 | €15,262 | €13,670 | €49,370 | €47,491 | €153,184 | €103,828 | ▼ 32.2% |
| Amounts receivable within one year40/41 | - | €5,848 | €5,263 | €35,665 | €3,039 | €134,578 | €81,422 | ▼ 39.5% |
| Trade receivables40 | - | - | €60 | €35,665 | €3,039 | €134,578 | €72,750 | ▼ 45.9% |
| Other amounts receivable41 | - | - | €5,203 | - | - | - | €8,672 | - |
| Cash at bank and in hand54/58 | €28,399 | €9,090 | €2,999 | €13,705 | €43,519 | €15,198 | €21,510 | ▲ 41.5% |
| Deferred charges and accrued income490/1 | - | - | €5,408 | - | €933 | €3,407 | €896 | ▼ 73.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €28,549 | €17,294 | €37,475 | €70,033 | €69,815 | €180,245 | €132,495 | ▼ 26.5% |
| Equity10/15 | €2,812 | -€27 | -€20,565 | -€8,191 | -€11,699 | -€18,048 | -€3,410 | ▲ 81.1% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€15,788 | -€18,627 | -€39,165 | -€26,791 | -€30,299 | -€36,648 | -€22,010 | ▲ 39.9% |
| Amounts payable17/49 | €25,737 | €17,321 | €58,040 | €78,224 | €81,514 | €198,292 | €135,905 | ▼ 31.5% |
| Amounts payable after more than one year17 | - | - | €13,909 | €10,002 | €6,042 | €2,028 | - | - |
| Financial debts170/4 | - | - | €13,909 | €10,002 | €6,042 | €2,028 | - | - |
| Amounts payable within one year42/48 | €25,737 | €17,321 | €44,131 | €68,222 | €75,472 | €196,265 | €135,905 | ▼ 30.8% |
| Current portion of amounts payable after more than one year42 | - | - | €3,854 | €3,907 | €3,960 | €4,014 | €2,028 | ▼ 49.5% |
| Trade debts44 | €11,440 | €1,361 | €12,734 | €11,465 | €20,307 | €59,350 | €35,125 | ▼ 40.8% |
| Suppliers440/4 | - | - | €12,734 | €11,465 | €20,307 | €59,350 | €35,125 | ▼ 40.8% |
| Taxes, remuneration and social security45 | - | - | €12,262 | €20,148 | €30,352 | €49,227 | €19,697 | ▼ 60.0% |
| Taxes450/3 | - | - | €647 | €5,720 | €15,510 | €4,534 | €1,065 | ▼ 76.5% |
| Remuneration and social security454/9 | - | - | €11,615 | €14,429 | €14,842 | €44,693 | €18,632 | ▼ 58.3% |
| Other amounts payable47/48 | - | - | €15,281 | €32,702 | €20,852 | €83,674 | €79,056 | ▼ 5.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,788 | -€2,838 | -€20,538 | €12,373 | -€3,508 | -€6,348 | €14,638 | - |
| + Depreciation and write-downs630 | €940 | €595 | €2,687 | €4,702 | €4,679 | €6,949 | €6,643 | ▼ 4.4% |
| Operating cash flow (approximation) | -€14,848 | -€2,243 | -€17,851 | €17,076 | €1,171 | €600 | €21,281 | ▲ 35× |
| Investment in fixed assets (approximation) | - | -€2,478 | -€24,460 | -€1,560 | -€6,340 | -€11,685 | -€8,250 | ▲ 29.4% |
| Change in cash | - | -€19,309 | -€6,091 | €10,706 | €29,814 | -€28,321 | €6,312 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 28-07-2026 | 2026-00343226 |
| 31-12-2024 | micro format | 21-08-2025 | 2025-00389307 |
| 31-12-2023 | micro format | 20-08-2024 | 2024-00357690 |
| 31-12-2022 | micro format | 17-08-2023 | 2023-00335257 |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20247768 |
| 31-12-2020 | micro format | 05-07-2021 | 2021-31300026 |
| 31-12-2019 | micro format | 26-06-2020 | 2020-21800593 |
Similar companies · same sector and region
Public contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. Values as the buyer published them; for a framework agreement, a ceiling.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DOS REMEDIOS ESTEVES Jonica Marisa |
|
Owners and capital
Capital and shareholders
- DOS REMEDIOS ESTEVES Jonica Marisa all shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 21-11-2023 Converted to unavailable equity · €18,600
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
21-11
Gazette deed
Resignation: DOS REMEDIOS ESTEVES Jonica Marisa (manager)Appointment: DOS REMEDIOS ESTEVES Jonica Marisa (director) · Shareholding · Amendment of the articles15 facts ▸
- General meeting, 09-11-2023
- Shareholding, 09-11-2023, “registre des actions nominatives” (deed in French)
- Other provision, “ordre du jour point 1, adapter les statuts aux dispositions du Code des sociétés et des associations” (deed in French)
- Other provision, “ordre du jour point 2, adaptation du capital au Code des sociétés et des associations” (deed in French)
- Other provision, “ordre du jour point 3, adoption de nouveaux statuts en concordance avec le Code des sociétés et des associations,sans modification de l’objet” (deed in French)
- Other provision, “ordre du jour point 4, démission et renouvellement du gérant comme administrateur” (deed in French)
- Other provision, “ordre du jour point 5, adresse du siège” (deed in French)
- Other provision, “quorum de présence, assemblée valablement composée apte à délibérer” (deed in French)
- Other provision, “validité de l’assemblée” (deed in French)
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Director resignation, DOS REMEDIOS ESTEVES Jonica Marisa (manager)
- +3 further facts in this act
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21013B0370/00B010 | Brussels | 5,214 m² | 1 · 120 m² | 17.0 m · 5 |
| 25033A0482/00_000 | Wallonia | 183 m² | 1 · 80 m² | 9.9 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Toutes opérations commerciales ou autres ayant directement ou indirectement trait à la rénovation,la création,la modélisation,la…” (deed in French)
11 activities (deed in French)
- Toutes opérations commerciales ou autres ayant directement ou indirectement trait à la rénovation,la création,la modélisation,la conservations de monuments et de sites et accessoires historiques
- L’achat,la vente,l’import,l’export,de tous articles plastiques,métalliques,en bois et autres matériaux pour la conception,la réalisation,la fabrication et le placement de maquettes,activité de design graphique de tout travaux et créations graphiques tel que la reproduction de dinosaures ou d’autres animaux préhistorique ainsi que des animaux de l’ère moderne
- Le travail sur des fossiles en collaboration avec de paléontologues
- La préservation de sites et de bâtiments historiques,la gestion des sites et attractions touristiques similaires
- Vendre des objets publicitaires de toute sorte afin de promouvoir l'activité de la société
- Pour compte propre,la gestion d'un patrimoine immobilier,la vente,l'échange,l'achat,la construction par sous-traitance,la transformation,la démolition,la reconstruction,la restauration,l'exploitation directe ou en régie,l'entretien,le développement,l'embellissement,la location,la prise en location,la gérance d'immeubles bâtis ou non,meublés ou non,le lotissement
- Toutes les activités commerciales en ce qui concerne l'achat et la vente,l'import et l'export,et la distribution de tous produits consommables ou industriels,textiles et autres
- L’organisations de stages,formations,séminaires au sens large
- Participer en capital sous forme minoritaire ou majoritaire dans d'autres sociétés
- S'intéresser par toutes voies dans toutes affaires,entreprises ou sociétés ayant un objet identique,analogue ou connexe,ou étant de nature à favoriser le développement de son entreprise ou à faciliter l'écoulement de ses produits et même fusionner avec elles et accepter tous mandats d'administrateur dans de telles sociétés
- Toutes opérations généralement quelconques,commerciales,industrielles,immobilières,mobilières ou financières se rapportant directement ou indirectement à son objet social
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- RAPHUS
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, Article 2” (deed in French)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Organe d’administration, nommés avec ou sans limitation de durée” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, Article 9” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Article 8, l’organe qui procède à l’émission” (deed in French)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Assemblée générale délibérant dans les formes des modifications aux statuts” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Liquidateurs, administrateurs en fonction désignés liquidateurs en vertu des statuts si aucun autre désigné” (deed in French)