RASTER - AFSLUITINGEN
ActiveSummary
RASTER - AFSLUITINGEN has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €147,853 and a net result of -€39,361. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 25% of 7940 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability26▼-44
Solvency49▼-4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 1.71 against 1.94 in 2024; short-term debt: 37.8% and cash: 4.6% of total assets), but 75.8% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
31 d early
2023
33 d early
2022
31 d early
2021
37 d early
2020
8 d early
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 24 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 30 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€147,853▼ 21.0%
2024 · €187,214
Total assets
€611,890▼ 9.0%
2024 · €672,485
Net result
-€39,361
2024 · €5,771
Working capital
€164,446▼ 19.6%
2024 · €204,524
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€19,659▲ 54.1%€42,955▲ 118%€16,404▼ 61.8%€16,299▼ 0.6%-€32,666
Net result€7,717within the sector's middle half▲ 138%€25,001within the sector's middle half▲ 224%€4,625below the sector's middle half▼ 81.5%€5,771below the sector's middle half▲ 24.8%-€39,361below the sector's middle half
Equity€151,818within the sector's middle half▲ 5.4%€176,818within the sector's middle half▲ 16.5%€181,443within the sector's middle half▲ 2.6%€187,214within the sector's middle half▲ 3.2%€147,853within the sector's middle half▼ 21.0%
Total assets€737,780within the sector's middle half▲ 14.3%€738,101within the sector's middle half=€675,379within the sector's middle half▼ 8.5%€672,485within the sector's middle half▼ 0.4%€611,890within the sector's middle half▼ 9.0%
Debt€585,962▲ 16.9%€561,282▼ 4.2%€493,936▼ 12.0%€485,270▼ 1.8%€464,037▼ 4.4%
Working capital€165,753within the sector's middle half▲ 2.5%€167,524within the sector's middle half▲ 1.1%€169,154within the sector's middle half▲ 1.0%€204,524within the sector's middle half▲ 20.9%€164,446within the sector's middle half▼ 19.6%
Solvency20.6%below the sector's middle half▼ 1.7pp24.0%within the sector's middle half▲ 3.4pp26.9%within the sector's middle half▲ 2.9pp27.8%within the sector's middle half▲ 1.0pp24.2%within the sector's middle half▼ 3.7pp
Current ratio1.74within the sector's middle half▼ 0.331.75within the sector's middle half=1.81within the sector's middle half▲ 0.061.94within the sector's middle half▲ 0.131.71within the sector's middle half▼ 0.22
Return on assets (ROA)1.0%below the sector's middle half▲ 0.5pp3.4%within the sector's middle half▲ 2.3pp0.7%below the sector's middle half▼ 2.7pp0.9%below the sector's middle half▲ 0.2pp-6.4%below the sector's middle half▼ 7.3pp
Staff (FTE)3.8within the sector's middle half▲ 26.7%3.9within the sector's middle half▲ 2.6%3.9within the sector's middle half=3.8within the sector's middle half▼ 2.6%4.2within the sector's middle half▲ 10.5%
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €32,666 after €16,299 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €611,890
Fixed assets
€215,849 ▼ 13.4%
Current assets
€396,041 ▼ 6.4%
Equity and liabilities €611,890
Equity
€147,853 ▼ 21.0%
Debt
€464,037 ▼ 4.4%
Debt's share of the balance-sheet total rises from 72.2% to 75.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€12,418▼
2024 · €70,242
Cash flow
€5,723▼
2024 · €59,715
Quick ratio
0.43▼
2024 · 0.54
Debt to equity
3.14▲
2024 · 2.59
ROE
-26.6%▼
2024 · 3.1%
Interest coverage
1.79▼
2024 · 8.77
Debt ≤ 1 year
€231,595▲
2024 · €218,734
Debt > 1 year
€228,147▼
2024 · €264,791
Income taxes
€229▼
2024 · €3,040
Staff costs
€231,813▲
2024 · €220,517
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,450 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a small loss
1.5%
went bankrupt
5.0%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 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% | 1.9% |
| 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 2,450 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €4,083 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €162,429 | €189,665 | €209,277 | €220,517 | €231,813 | ▲ 5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €52,276 | €48,656 | €60,526 | €53,943 | €45,084 | ▼ 16.4% |
| Other operating charges640/8 | €1,362 | €510 | €2,470 | €1,200 | €1,422 | ▲ 18.5% |
| Non-recurring operating charges66A | - | €250 | - | - | - | - |
| Gross operating margin9900 | €235,726 | €282,037 | €288,677 | €291,960 | €245,654 | ▼ 15.9% |
| Operating profit (loss)9901 | €19,659 | €42,955 | €16,404 | €16,299 | -€32,666 | ▼ 300% |
| Financial income75/76B | €367 | €1,168 | €2,296 | €522 | €486 | ▼ 7.0% |
| Recurring financial income75 | €367 | €583 | €2,296 | €522 | €486 | ▼ 7.0% |
| Non-recurring financial income76B | - | €584 | - | - | - | - |
| Financial charges65/66B | €7,862 | €8,207 | €10,768 | €8,010 | €6,951 | ▼ 13.2% |
| Recurring financial charges65 | €7,862 | €8,207 | €10,768 | €8,010 | €6,951 | ▼ 13.2% |
| Profit (loss) for the period before taxes9903 | €12,164 | €35,915 | €7,931 | €8,811 | -€39,132 | ▼ 544% |
| Income taxes67/77 | €4,447 | €10,914 | €3,306 | €3,040 | €229 | ▼ 92.5% |
| Profit (loss) for the period9904 | €7,717 | €25,001 | €4,625 | €5,771 | -€39,361 | ▼ 782% |
| Profit (loss) for the period to be appropriated9905 | €7,717 | €25,001 | €4,625 | €5,771 | -€39,361 | ▼ 782% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €737,780 | €738,101 | €675,379 | €672,485 | €611,890 | ▼ 9.0% |
| Fixed assets21/28 | €349,525 | €346,403 | €296,775 | €249,226 | €215,849 | ▼ 13.4% |
| Tangible fixed assets22/27 | €345,390 | €342,268 | €292,640 | €242,991 | €209,614 | ▼ 13.7% |
| Land and buildings22 | €239,463 | €219,599 | €199,734 | €180,281 | €162,253 | ▼ 10.0% |
| Plant, machinery and equipment23 | €7,886 | €5,924 | €9,760 | €10,510 | €14,707 | ▲ 39.9% |
| Furniture and vehicles24 | €98,042 | €116,746 | €83,146 | €52,200 | €32,655 | ▼ 37.4% |
| Financial fixed assets28 | €4,135 | €4,135 | €4,135 | €6,235 | €6,235 | = |
| Current assets29/58 | €388,254 | €391,697 | €378,605 | €423,259 | €396,041 | ▼ 6.4% |
| Stocks and contracts in progress3 | €258,483 | €278,102 | €295,023 | €304,810 | €296,260 | ▼ 2.8% |
| Stocks30/36 | €258,483 | €278,102 | €295,023 | €292,405 | €296,260 | ▲ 1.3% |
| Contracts in progress37 | - | - | - | €12,405 | - | - |
| Amounts receivable within one year40/41 | €113,413 | €80,871 | €50,150 | €79,201 | €65,493 | ▼ 17.3% |
| Trade receivables40 | €66,109 | €67,867 | €35,901 | €53,841 | €58,762 | ▲ 9.1% |
| Other amounts receivable41 | €47,304 | €13,004 | €14,250 | €25,360 | €6,731 | ▼ 73.5% |
| Cash at bank and in hand54/58 | €2,532 | €28,378 | €24,898 | €26,577 | €28,288 | ▲ 6.4% |
| Deferred charges and accrued income490/1 | €13,827 | €4,345 | €8,533 | €12,671 | €6,000 | ▼ 52.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €737,780 | €738,101 | €675,379 | €672,485 | €611,890 | ▼ 9.0% |
| Equity10/15 | €151,818 | €176,818 | €181,443 | €187,214 | €147,853 | ▼ 21.0% |
| Contributions10/11 | €24,789 | €24,789 | €24,789 | €24,789 | €24,789 | = |
| Reserves13 | €127,028 | €152,029 | €156,654 | €162,425 | €123,064 | ▼ 24.2% |
| Distributable reserves133 | €127,028 | €152,029 | €156,654 | €162,425 | €123,064 | ▼ 24.2% |
| Amounts payable17/49 | €585,962 | €561,282 | €493,936 | €485,270 | €464,037 | ▼ 4.4% |
| Amounts payable after more than one year17 | €362,580 | €336,087 | €284,001 | €264,791 | €228,147 | ▼ 13.8% |
| Financial debts170/4 | €362,580 | €336,087 | €284,001 | €264,791 | €228,147 | ▼ 13.8% |
| Amounts payable within one year42/48 | €222,501 | €224,173 | €209,451 | €218,734 | €231,595 | ▲ 5.9% |
| Current portion of amounts payable after more than one year42 | €35,425 | €39,083 | €51,920 | €35,519 | €36,644 | ▲ 3.2% |
| Financial debts43 | €6,976 | - | - | - | - | - |
| Credit institutions430/8 | €6,976 | - | - | - | - | - |
| Trade debts44 | €141,953 | €140,958 | €108,816 | €151,424 | €154,077 | ▲ 1.8% |
| Suppliers440/4 | €141,953 | €140,958 | €108,816 | €151,424 | €154,077 | ▲ 1.8% |
| Advances received on contracts in progress46 | - | - | €2,883 | - | - | - |
| Taxes, remuneration and social security45 | €27,487 | €31,664 | €31,326 | €19,003 | €26,132 | ▲ 37.5% |
| Taxes450/3 | €18,396 | €20,236 | €19,096 | €8,181 | €13,518 | ▲ 65.2% |
| Remuneration and social security454/9 | €9,091 | €11,428 | €12,230 | €10,822 | €12,615 | ▲ 16.6% |
| Other amounts payable47/48 | €10,660 | €12,468 | €14,506 | €12,788 | €14,742 | ▲ 15.3% |
| Accrued charges and deferred income492/3 | €881 | €1,022 | €484 | €1,745 | €4,294 | ▲ 146% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,717 | €25,001 | €4,625 | €5,771 | -€39,361 | ▼ 782% |
| + Depreciation and write-downs630 | €52,276 | €48,656 | €60,526 | €53,943 | €45,084 | ▼ 16.4% |
| Operating cash flow (approximation) | €59,994 | €73,657 | €65,151 | €59,715 | €5,723 | ▼ 90.4% |
| Investment in fixed assets (approximation) | - | -€45,534 | -€10,897 | -€6,395 | -€11,707 | ▼ 83.1% |
| Change in cash | - | €25,847 | -€3,480 | €1,679 | €1,711 | ▲ 1.9% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Weakest financial yearnet -€39,361
Net result drops to -€39,361, the lowest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
24-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €150,000Eq €151,818 ▲5.4%
3 profitable years in a row build equity to €151,818.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €39,446
Net result €39,446 after one loss-making year.
09-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 9 days late
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kapellen · 1 establishment unit since 1991
Ground area
1.7 ha
Building footprint
4,860 m²
Volume, LiDAR
26,652 m³
Parcel 11023K0007/00H033, Flanders · tallest building 16.5 m, ±2 floors. Linked by address, not a title deed.
18
companies at this address
See who is registered here
1 establishment unit
RASTER-AFSLUITINGEN BVBA
since 19912.053.461.591
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11023K0007/00H033 | Flanders | 1.7 ha | 1 · 4,860 m² | 16.5 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.
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Of 15,524 companies in sector 43990 we hold annual accounts for 7,427. 6,074 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-06-1991
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0444445288
Also
9925:BE0444445288
Registered
16-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.