RASERVA
ActiveSummary
RASERVA has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €43,844 and a net result of €117,211. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 24% of 32629 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency47▼-48
Growth78=
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3,000 at 30 days acceptable
Liquidity tight (current ratio 1.14 against 5.43 in 2024; short-term debt: 78.2% and cash: 85.1% of total assets), and 78.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
21.8%
Return on assets
58.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 32629 sector peers (2025).
NBB · sector comparisonPosition among 32629 sector peers
Solvency
better than 24%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 13-05-2026, 79 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
79 d early
2024
50 d early
2023
1 d early
2022
41 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 43 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 16 June (3 of the last 4 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€43,844▼ 82.0%
2024 · €243,813
Total assets
€200,718▼ 42.1%
2024 · €346,875
Net result
€117,211▲ 5.6%
2024 · €110,978
Working capital
€21,490▼ 91.7%
2024 · €260,248
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€30,283-€137,842▲ 355%€142,512▲ 3.4%€152,873▲ 7.3%
Net result€21,966within the sector's middle half-€107,502above the sector's middle half▲ 389%€110,978above the sector's middle half▲ 3.2%€117,211above the sector's middle half▲ 5.6%
Equity€26,166below the sector's middle half-€132,835within the sector's middle half▲ 408%€243,813above the sector's middle half▲ 83.5%€43,844within the sector's middle half▼ 82.0%
Total assets€200,554within the sector's middle half-€263,019within the sector's middle half▲ 31.1%€346,875within the sector's middle half▲ 31.9%€200,718within the sector's middle half▼ 42.1%
Debt€174,387-€130,184▼ 25.3%€103,062▼ 20.8%€156,874▲ 52.2%
Working capital€24,325within the sector's middle half-€139,706above the sector's middle half▲ 474%€260,248above the sector's middle half▲ 86.3%€21,490within the sector's middle half▼ 91.7%
Solvency13.0%below the sector's middle half-50.5%within the sector's middle half▲ 37.5pp70.3%within the sector's middle half▲ 19.8pp21.8%below the sector's middle half▼ 48.4pp
Current ratio1.19within the sector's middle half-2.63within the sector's middle half▲ 1.445.43above the sector's middle half▲ 2.801.14within the sector's middle half▼ 4.29
Return on assets (ROA)11.0%within the sector's middle half-40.9%above the sector's middle half▲ 29.9pp32.0%above the sector's middle half▼ 8.9pp58.4%above the sector's middle half▲ 26.4pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2025 is 7% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €200,718
Fixed assets
€22,354 ▼ 19.7%
Current assets
€178,364 ▼ 44.1%
Equity and liabilities €200,718
Equity
€43,844 ▼ 82.0%
Debt
€156,874 ▲ 52.2%
Debt's share of the balance-sheet total rises from 29.7% to 78.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€166,353▲
2024 · €153,563
Cash flow
€130,690▲
2024 · €122,029
Debt to equity
3.58▲
2024 · 0.42
ROE
267.3%▲
2024 · 45.5%
Interest coverage
2142.89▲
2024 · 1004.60
Debt ≤ 1 year
€156,874▲
2024 · €58,783
Income taxes
€35,591▲
2024 · €31,381
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 94% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
3.6%
went bankrupt
1.8%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% 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 497,341 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% | 1.0% |
| 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% 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 7,976 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.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,395 | €10,512 | €11,052 | €13,480 | ▲ 22.0% |
| Other operating charges640/8 | €269 | €471 | €725 | €1,040 | ▲ 43.5% |
| Gross operating margin9900 | €33,948 | €148,825 | €154,288 | €167,393 | ▲ 8.5% |
| Operating profit (loss)9901 | €30,283 | €137,842 | €142,512 | €152,873 | ▲ 7.3% |
| Financial income75/76B | €15 | - | - | €6 | - |
| Recurring financial income75 | €15 | - | - | €6 | - |
| Financial charges65/66B | €12 | €59 | €153 | €78 | ▼ 49.2% |
| Recurring financial charges65 | €12 | €59 | €153 | €78 | ▼ 49.2% |
| Profit (loss) for the period before taxes9903 | €30,286 | €137,783 | €142,359 | €152,802 | ▲ 7.3% |
| Income taxes67/77 | €8,320 | €30,282 | €31,381 | €35,591 | ▲ 13.4% |
| Profit (loss) for the period9904 | €21,966 | €107,502 | €110,978 | €117,211 | ▲ 5.6% |
| Profit (loss) for the period to be appropriated9905 | €21,966 | €107,502 | €110,978 | €117,211 | ▲ 5.6% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €200,554 | €263,019 | €346,875 | €200,718 | ▼ 42.1% |
| Fixed assets21/28 | €46,120 | €37,408 | €27,843 | €22,354 | ▼ 19.7% |
| Tangible fixed assets22/27 | €46,120 | €37,408 | €27,843 | €22,354 | ▼ 19.7% |
| Plant, machinery and equipment23 | - | - | €991 | €496 | ▼ 50.0% |
| Furniture and vehicles24 | €46,120 | €36,523 | €26,065 | €21,170 | ▼ 18.8% |
| Other tangible fixed assets26 | - | €885 | €787 | €689 | ▼ 12.5% |
| Current assets29/58 | €154,434 | €225,611 | €319,032 | €178,364 | ▼ 44.1% |
| Amounts receivable after more than one year29 | €44,279 | €44,279 | €44,279 | - | - |
| Other amounts receivable291 | €44,279 | €44,279 | €44,279 | - | - |
| Amounts receivable within one year40/41 | - | - | €21,727 | €2,456 | ▼ 88.7% |
| Trade receivables40 | - | - | €21,727 | €2,456 | ▼ 88.7% |
| Cash at bank and in hand54/58 | €108,285 | €177,266 | €248,862 | €170,900 | ▼ 31.3% |
| Deferred charges and accrued income490/1 | €1,871 | €4,066 | €4,163 | €5,008 | ▲ 20.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €200,554 | €263,019 | €346,875 | €200,718 | ▼ 42.1% |
| Equity10/15 | €26,166 | €132,835 | €243,813 | €43,844 | ▼ 82.0% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €21,166 | €21,166 | €21,166 | €38,844 | ▲ 83.5% |
| Distributable reserves133 | €21,166 | €21,166 | €21,166 | €38,844 | ▲ 83.5% |
| Profit (loss) carried forward14 | - | €106,669 | €217,647 | - | - |
| Amounts payable17/49 | €174,387 | €130,184 | €103,062 | €156,874 | ▲ 52.2% |
| Amounts payable after more than one year17 | €44,279 | €44,279 | €44,279 | - | - |
| Other amounts payable178/9 | €44,279 | €44,279 | €44,279 | - | - |
| Amounts payable within one year42/48 | €130,109 | €85,905 | €58,783 | €156,874 | ▲ 167% |
| Trade debts44 | €2,077 | €1,448 | €2,191 | €2,442 | ▲ 11.4% |
| Suppliers440/4 | €2,077 | €1,448 | €2,191 | €2,442 | ▲ 11.4% |
| Taxes, remuneration and social security45 | €73,479 | €39,271 | €42,008 | €48,087 | ▲ 14.5% |
| Taxes450/3 | €73,479 | €39,271 | €42,008 | €48,087 | ▲ 14.5% |
| Other amounts payable47/48 | €54,552 | €45,186 | €14,585 | €106,345 | ▲ 629% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,966 | €107,502 | €110,978 | €117,211 | ▲ 5.6% |
| + Depreciation and write-downs630 | €3,395 | €10,512 | €11,052 | €13,480 | ▲ 22.0% |
| Operating cash flow (approximation) | €25,361 | €118,014 | €122,029 | €130,690 | ▲ 7.1% |
| Investment in fixed assets (approximation) | - | -€1,801 | -€1,487 | -€7,991 | ▼ 437% |
| Change in cash | - | €68,981 | €71,597 | -€77,962 | ▼ 209% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
04-06
State Gazette act
Registered officeRegistered-office move · Power of attorney3 facts ▸
State Gazette act
Registered office
Registered-office move · Power of attorney3 facts ▸
- Board meeting, 12-05-2026
- Registered-office move, Tussen Beken 13, 9830 Sint-Martens-Latem
- Power of attorney, De Saedeleer, Boekhouders - Fiscalisten
13-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2022net €117,211 ▲5.6%
Operating result €152,873, net result €117,211, both a record.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity doublescurrent ratio 5.43
Current ratio from 2.63 to 5.43; short-term debt falls from €85,905 to €58,783.
31-12
Financial
Equity above €200,000Eq €243,813 ▲83.5%
3 profitable years in a row build equity to €243,813.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity doublescurrent ratio 2.63
Current ratio from 1.19 to 2.63; short-term debt falls from €130,109 to €85,905.
31-12
Financial
Equity above €100,000Eq €132,835 ▲408%
2 profitable years in a row build equity to €132,835.
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 2 acts read
About the unread acts
Of the 2 Belgian State Gazette acts 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.
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Directors · office · real estate
Directors
No directors read yet: 1 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sint-Martens-Latem · 1 establishment unit since 2022
Ground area
2,068 m²
Building footprint
273 m²
Volume, LiDAR
1,408 m³
Parcel 44064B0737/00B000, Flanders · tallest building 9.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
RASERVA
since 20222.337.101.568
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44064B0737/00B000 | Flanders | 2,068 m² | 1 · 273 m² | 9.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
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Ownership & control
2 board mandatesBoard mandates of this companythis company sits on their board2
10 locations
5 locations
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Of 82,601 companies in this sector we hold annual accounts for 52,629. 37,369 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded15-09-2022
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
68121Development of residential building projects
68122Development of non-residential building projects
43211General electrical installation work
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0790850304
Also
9925:BE0790850304
Registered
02-09-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.