RATEL
ActiveSummary
The computed 12-month bankruptcy probability of RATEL is 1.5% (moderate). The 2025 annual accounts show negative equity (€-432k) and a net result of €-72k. Equity is shrinking by ~48.9% per year across the filed fiscal years. The company has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability51▲+1
Solvency0=
Growth58▲+17
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.15 against 0.07 in 2024; short-term debt: 153.5% and cash: 22.6% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-83%
Return on assets
-13.9%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-432k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
26 d late
2023
21 d early
2022
288 d late
2021
17 d late
2020
12 d late
2019
49 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€149k▲ 15.2%
2020 · €129k
2019: €129klowest in 3 years
2020: €129k● +0.0% vs 2019
2021: €149k▲ +15.2% vs 2020highest in 3 years
2019 → 2021
EBIT margin
-49.3%▲ 7.8pp
2020 · -57.1%
2019: -59.8%lowest in 3 years
2020: -57.1%▲ +4.5% vs 2019
2021: -49.3%▲ +13.7% vs 2020highest in 3 years
2019 → 2021
Net result
€-72k▲ 22.7%
2024 · €-94k
2018: €-83k
2019: €-88k▼ -6.6% vs 2018
2020: €-86k▲ +2.9% vs 2019
2021: €-84k▲ +2.3% vs 2020
2022: €-83k▲ +0.7% vs 2021
2023: €-88k▼ -6.0% vs 2022
2024: €-94k▼ -6.1% vs 2023lowest in 8 years
2025: €-72k▲ +22.7% vs 2024highest in 8 years
2018 → 2025
Working capital
€-678k▲ 8.7%
2024 · €-742k
2018: €-1.11Mlowest in 8 years
2019: €-1.05M▲ +5.4% vs 2018
2020: €-998k▲ +5.3% vs 2019
2021: €-938k▲ +6.0% vs 2020
2022: €-882k▲ +6.0% vs 2021
2023: €-826k▲ +6.3% vs 2022
2024: €-742k▲ +10.2% vs 2023
2025: €-678k▲ +8.7% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€149k-
Equity€-125k-€-208k▼ 66.5%€-297k▼ 42.4%€-359k▼ 21.1%€-432k▼ 20.2%
2021: €-125khighest in 5 years
2022: €-208k▼ -66.5% vs 2021
2023: €-297k▼ -42.4% vs 2022
2024: €-359k▼ -21.1% vs 2023
2025: €-432k▼ -20.2% vs 2024lowest in 5 years
Operating result€-73k-€-74k▼ 0.1%€-76k▼ 3.4%€-80k▼ 5.0%€-62k▲ 22.9%
2021: €-73k
2022: €-74k▼ -0.1% vs 2021
2023: €-76k▼ -3.4% vs 2022
2024: €-80k▼ -5.0% vs 2023lowest in 5 years
2025: €-62k▲ +22.9% vs 2024highest in 5 years
Net result€-84k-€-83k▲ 0.7%€-88k▼ 6.0%€-94k▼ 6.1%€-72k▲ 22.7%
2021: €-84k
2022: €-83k▲ +0.7% vs 2021
2023: €-88k▼ -6.0% vs 2022
2024: €-94k▼ -6.1% vs 2023lowest in 5 years
2025: €-72k▲ +22.7% vs 2024highest in 5 years
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €62k in 2025 against €80k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €520k
Fixed assets
€400k ▼ 31.9%
Current assets
€121k ▲ 123%
Key figures and ratios
EBITDA
€125k▲
2024 · €113k
Cash flow
€114k▲
2024 · €100k
Solvency
-83.0%▼
2024 · -56.1%
Current ratio
0.15▲
2024 · 0.07
Debt to equity
-2.21▲
2024 · -2.78
ROA
-13.9%▲
2024 · -14.6%
Interest coverage
11.47▲
2024 · 8.20
Debt
€952k▼
2024 · €1,000k
Debt ≤ 1 year
€799k▲
2024 · €797k
Debt > 1 year
€147k▼
2024 · €203k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€641k€520k▼
Fixed assets21/28€586k€400k▼
Tangible fixed assets22/27€586k€399k▼
Land and buildings22€363k€337k▼
Other tangible fixed assets26€222k€62k▼
Financial fixed assets28€550€550=
Current assets29/58€54k€121k▲
Amounts receivable within one year40/41€3k€3k▲
Trade receivables40€3k€3k▲
Cash at bank and in hand54/58€51k€118k▲
Deferred charges and accrued income490/1€333€356▲
Equity and liabilities
Total equity and liabilities10/49€641k€520k▼
Equity10/15€-359k€-432k▼
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Revaluation surpluses12€362k€338k▼
Reserves13€551k€575k▲
Distributable reserves133€551k€575k▲
Profit (loss) carried forward14€-1.33M€-1.41M▼
Amounts payable17/49€1,000k€952k▼
Amounts payable after more than one year17€203k€147k▼
Financial debts170/4€203k€147k▼
Amounts payable within one year42/48€797k€799k▲
Current portion of amounts payable after more than one year42€42k€48k▲
Trade debts44€7k€614▼
Suppliers440/4€7k€614▼
Other amounts payable47/48€747k€750k▲
Accrued charges and deferred income492/3-€7k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€193k€187k▼
Other operating charges640/8€17k€17k▲
Gross operating margin9900€130k€143k▲
Operating profit (loss)9901€-80k€-62k▲
Financial charges65/66B€14k€11k▼
Recurring financial charges65€14k€11k▼
Profit (loss) for the period before taxes9903€-94k€-72k▲
Profit (loss) for the period9904€-94k€-72k▲
Profit (loss) for the period to be appropriated9905€-94k€-72k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-1.33M€-1.41M▼
Profit (loss) brought forward from the previous period14P€-1.24M€-1.33M▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €149k | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €18k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €193k | €193k | €193k | €193k | €187k | ▼ 3.4% |
| Other operating charges640/8 | €12k | €12k | €16k | €17k | €17k | ▲ 3.2% |
| Gross operating margin9900 | €131k | €132k | €133k | €130k | €143k | ▲ 9.5% |
| Operating profit (loss)9901 | €-73k | €-74k | €-76k | €-80k | €-62k | ▲ 22.9% |
| Financial income75/76B | €71 | - | - | - | - | - |
| Recurring financial income75 | €71 | - | - | - | - | - |
| Financial charges65/66B | €11k | €10k | €12k | €14k | €11k | ▼ 21.1% |
| Recurring financial charges65 | €11k | €10k | €12k | €14k | €11k | ▼ 21.1% |
| Profit (loss) for the period before taxes9903 | €-84k | €-83k | €-88k | €-94k | €-72k | ▲ 22.7% |
| Profit (loss) for the period9904 | €-84k | €-83k | €-88k | €-94k | €-72k | ▲ 22.7% |
| Profit (loss) for the period to be appropriated9905 | €-84k | €-83k | €-88k | €-94k | €-72k | ▲ 22.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.30M | €1.01M | €874k | €641k | €520k | ▼ 18.8% |
| Fixed assets21/28 | €1.16M | €968k | €775k | €586k | €400k | ▼ 31.9% |
| Tangible fixed assets22/27 | €1.16M | €967k | €774k | €586k | €399k | ▼ 31.9% |
| Land and buildings22 | €444k | €417k | €390k | €363k | €337k | ▼ 7.4% |
| Other tangible fixed assets26 | €713k | €550k | €384k | €222k | €62k | ▼ 72.0% |
| Financial fixed assets28 | €550 | €550 | €550 | €550 | €550 | = |
| Current assets29/58 | €140k | €41k | €99k | €54k | €121k | ▲ 123% |
| Amounts receivable within one year40/41 | €21 | - | - | €3k | €3k | ▲ 12.4% |
| Trade receivables40 | €21 | - | - | €3k | €3k | ▲ 12.4% |
| Cash at bank and in hand54/58 | €136k | €41k | €98k | €51k | €118k | ▲ 129% |
| Deferred charges and accrued income490/1 | €3k | €688 | €801 | €333 | €356 | ▲ 7.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.30M | €1.01M | €874k | €641k | €520k | ▼ 18.8% |
| Equity10/15 | €-125k | €-208k | €-297k | €-359k | €-432k | ▼ 20.2% |
| Contributions10/11 | €31k | €31k | €31k | €62k | €62k | = |
| Capital10 | €31k | €31k | €31k | €62k | €62k | = |
| Issued capital100 | €31k | €31k | €31k | €62k | €62k | = |
| Revaluation surpluses12 | €386k | €386k | €386k | €362k | €338k | ▼ 6.6% |
| Reserves13 | €527k | €527k | €527k | €551k | €575k | ▲ 4.4% |
| Non-distributable reserves130/1 | €527k | - | - | - | - | - |
| Other1319 | €527k | - | - | - | - | - |
| Distributable reserves133 | - | €527k | €527k | €551k | €575k | ▲ 4.4% |
| Profit (loss) carried forward14 | €-1.07M | €-1.15M | €-1.24M | €-1.33M | €-1.41M | ▼ 5.4% |
| Amounts payable17/49 | €1.42M | €1.22M | €1.17M | €1,000k | €952k | ▼ 4.8% |
| Amounts payable after more than one year17 | €337k | €287k | €245k | €203k | €147k | ▼ 27.8% |
| Financial debts170/4 | €337k | €287k | €245k | €203k | €147k | ▼ 27.8% |
| Amounts payable within one year42/48 | €1.08M | €923k | €925k | €797k | €799k | ▲ 0.3% |
| Current portion of amounts payable after more than one year42 | €49k | €50k | €48k | €42k | €48k | ▲ 13.8% |
| Trade debts44 | - | €181 | €642 | €7k | €614 | ▼ 91.3% |
| Suppliers440/4 | - | €181 | €642 | €7k | €614 | ▼ 91.3% |
| Other amounts payable47/48 | €1.03M | €873k | €876k | €747k | €750k | ▲ 0.4% |
| Accrued charges and deferred income492/3 | €7k | €7k | - | - | €7k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-84k | €-83k | €-88k | €-94k | €-72k | ▲ 22.7% |
| + Depreciation and write-downs630 | €193k | €193k | €193k | €193k | €187k | ▼ 3.4% |
| Operating cash flow (approximation) | €109k | €109k | €105k | €100k | €114k | ▲ 14.8% |
| Investment in fixed assets (approximation) | - | €-3k | €0 | €-5k | €0 | ▲ 100% |
| Change in cash | - | €-96k | €58k | €-47k | €66k | ▲ 241% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 24 days late
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 26 days late
2024
31-12
Financial
Weakest financial yearnet €-94k
Net result drops to €-94k, the lowest in the series; recovery starts the following year.
10-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
14-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 288 days late
2022
17-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 17 days late
2021
12-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 12 days late
2020
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 49 days late
2019
07-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 7 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Elsene · 1 establishment unit since 1982
Ground area
654 m²
Building footprint
368 m²
Volume, LiDAR
5,732 m³
2 parcels, Brussels · tallest building 20.0 m, ±6 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Vandeweyerstraat 8, 1030 Schaarbeek
since 19822.020.620.757
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21444B0103/00S000 | Brussels | 439 m² | 1 · 185 m² | 19.5 m · 5 fl. |
| 21910E0182/00F009 | Brussels | 215 m² | 1 · 182 m² | 20.0 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPublic limited company
Founded01-05-1982
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.