Rational
ActiveSummary
Rational has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €185,062 and a net result of €7,602. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 45% of 2097 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Overview
What they do
Other building finishing work
NACE 43350NACE 43390NACE 45450
#5 oldest company in Tessenderlo-Ham, Construction sector2 sites
How big
€474,173total assets 2025
- Staff
- 18.3 FTE
- Equity
- €185,062
- Profit
- €7,602
Who decides
Accounts 30 d early1 of 4 deeds read
Why 54- Higher-failure-rate sector- Multiple establishment units+ Long track record+ Lower-risk legal form+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability42▲+4
Solvency64▼-12
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 1.64 against 2.06 in 2024; short-term debt: 61% and cash: 0.1% of total assets), but 61% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six 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
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
39%
Return on assets
1.6%
Age of the figures
9 mo
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
13 d early
2023
29 d early
2022
86 d late
2021
233 d late
2020
405 d late
2019
122 d late
← 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 111 days after 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 18 July (4 of the last 5 filed years within 99 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Registered officeRegistered-office move
- Annual accounts filedfiscal year 2025 · full…
- Annual accounts filedfiscal year 2024 · abbreviated…
Financials
Fiscal year 2025Total assets €474,173Profit €7,602Solvency 39.0%Liquidity 1.64
Total assets
€474,173▲ 37.4%
2018 - 2025
Net result
€7,602▲ 9,875%
2018 - 2025
Equity
€185,062▲ 4.3%
2018 - 2025
Staff (FTE)
18.3▼ 3.7%
2018 - 2025
Financials · fiscal year 2025, full schema
In the rankings
#5 oldest company in Tessenderlo-Ham, Construction sector#10 employer in Tessenderlo-Ham, Construction sector
Source amounts without an identifiable currency are assumed to be EUR.
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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 43, Specialised construction 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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€34,822▲ 83.6%€61,833▲ 77.6%€5,117▼ 91.7%€1,862▼ 63.6%€10,700▲ 475%
Net result€24,605within the sector's middle half▲ 109%€43,566within the sector's middle half▲ 77.1%€308below the sector's middle half▼ 99.3%€76below the sector's middle half▼ 75.2%€7,602within the sector's middle half▲ 9,875%
Equity€133,511within the sector's middle half▲ 22.6%€177,076within the sector's middle half▲ 32.6%€177,384within the sector's middle half▲ 0.2%€177,460within the sector's middle half=€185,062within the sector's middle half▲ 4.3%
Total assets€297,694below the sector's middle half▲ 16.2%€322,867below the sector's middle half▲ 8.5%€377,844below the sector's middle half▲ 17.0%€345,019below the sector's middle half▼ 8.7%€474,173within the sector's middle half▲ 37.4%
Debt€164,184▲ 11.5%€145,791▼ 11.2%€200,460▲ 37.5%€167,559▼ 16.4%€289,111▲ 72.5%
Working capital€133,511within the sector's middle half▲ 22.6%€177,076within the sector's middle half▲ 32.6%€177,384within the sector's middle half▲ 0.2%€177,460within the sector's middle half=€185,062within the sector's middle half▲ 4.3%
Solvency44.8%within the sector's middle half▲ 2.3pp54.8%within the sector's middle half▲ 10.0pp46.9%within the sector's middle half▼ 7.9pp51.4%within the sector's middle half▲ 4.5pp39.0%within the sector's middle half▼ 12.4pp
Current ratio1.81within the sector's middle half▲ 0.072.21within the sector's middle half▲ 0.401.88within the sector's middle half▼ 0.332.06within the sector's middle half▲ 0.171.64within the sector's middle half▼ 0.42
Return on assets (ROA)8.3%within the sector's middle half▲ 3.7pp13.5%above the sector's middle half▲ 5.2pp0.1%below the sector's middle half▼ 13.4pp0.0%below the sector's middle half▼ 0.1pp1.6%within the sector's middle half▲ 1.6pp
Staff (FTE)22.7above the sector's middle half▼ 3.0%21.2above the sector's middle half▼ 6.6%19.4above the sector's middle half▼ 8.5%19above the sector's middle half▼ 2.1%18.3within the sector's middle half▼ 3.7%
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.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 475% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €474,173
Equity
€185,062 ▲ 4.3%
Debt
€289,111 ▲ 72.5%
Debt's share of the balance-sheet total rises from 48.6% to 61.0%. Equity and debt are higher.
Key figures and ratios
Key figures and ratios
Debt to equity
1.56▲
2024 · 0.94
ROE
4.1%▲
2024 · 0.0%
Debt ≤ 1 year
€289,111▲
2024 · €167,559
Income taxes
€4,289▲
2024 · €1,764
Staff costs
€916,045▼
2024 · €1.0m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,341 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 14,732 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €1.0m | €0.9m | €1.0m | €1.0m | €0.9m | ▼ 9.3% |
| Other operating charges640/8 | €0.001m | €0.002m | €0.002m | €386 | €188 | ▼ 51.3% |
| Gross operating margin9900 | €1.0m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 8.5% |
| Operating profit (loss)9901 | €0.03m | €0.06m | €0.005m | €0.002m | €0.01m | ▲ 475% |
| Financial income75/76B | - | - | €0 | - | €0.002m | - |
| Recurring financial income75 | - | - | €0 | - | €0 | - |
| Non-recurring financial income76B | - | - | - | - | €0.002m | - |
| Financial charges65/66B | €30 | €423 | €155 | €22 | €0.001m | ▲ 4,569% |
| Recurring financial charges65 | €30 | €423 | €155 | €22 | €0.001m | ▲ 4,569% |
| Profit (loss) for the period before taxes9903 | €0.03m | €0.06m | €0.005m | €0.002m | €0.01m | ▲ 546% |
| Income taxes67/77 | €0.01m | €0.02m | €0.005m | €0.002m | €0.004m | ▲ 143% |
| Profit (loss) for the period9904 | €0.02m | €0.04m | €308 | €76 | €0.008m | ▲ 9,875% |
| Profit (loss) for the period to be appropriated9905 | €0.02m | €0.04m | €308 | €76 | €0.008m | ▲ 9,875% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €297,694 | €322,867 | €377,844 | €345,019 | €474,173 | ▲ 37.4% |
| Current assets29/58 | €297,694 | €322,867 | €377,844 | €345,019 | €474,173 | ▲ 37.4% |
| Amounts receivable within one year40/41 | €297,611 | €322,752 | €377,566 | €344,935 | €473,584 | ▲ 37.3% |
| Trade receivables40 | €38,837 | €3,997 | €7,337 | €26,415 | €18,600 | ▼ 29.6% |
| Other amounts receivable41 | €258,774 | €318,755 | €370,229 | €318,520 | €454,984 | ▲ 42.8% |
| Cash at bank and in hand54/58 | €83 | €115 | €278 | €85 | €588 | ▲ 593% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €297,694 | €322,867 | €377,844 | €345,019 | €474,173 | ▲ 37.4% |
| Equity10/15 | €133,511 | €177,076 | €177,384 | €177,460 | €185,062 | ▲ 4.3% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €46,200 | €46,200 | €46,200 | €46,200 | €46,200 | = |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €40,000 | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Profit (loss) carried forward14 | €25,311 | €68,876 | €69,184 | €69,260 | €76,862 | ▲ 11.0% |
| Amounts payable17/49 | €164,184 | €145,791 | €200,460 | €167,559 | €289,111 | ▲ 72.5% |
| Amounts payable within one year42/48 | €164,184 | €145,791 | €200,460 | €167,559 | €289,111 | ▲ 72.5% |
| Trade debts44 | €3,067 | €3,462 | €3,969 | €10,763 | €77,290 | ▲ 618% |
| Suppliers440/4 | €3,067 | €3,462 | €3,969 | €10,763 | €77,290 | ▲ 618% |
| Taxes, remuneration and social security45 | €161,117 | €142,329 | €196,491 | €156,796 | €211,820 | ▲ 35.1% |
| Taxes450/3 | €44,463 | €55,846 | €41,617 | €39,464 | €70,654 | ▲ 79.0% |
| Remuneration and social security454/9 | €116,654 | €86,483 | €154,874 | €117,332 | €141,166 | ▲ 20.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,605 | €43,566 | €308 | €76 | €7,602 | ▲ 9,875% |
| Operating cash flow (approximation) | €24,605 | €43,566 | €308 | €76 | €7,602 | ▲ 9,875% |
| Change in cash | - | €33 | €163 | -€194 | €503 | ▲ 360% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
SYSTEEMPLAFONDS FRANKY BEYLS
BE 0864.640.776
Wevelgem · Eq €185,118
SCHOLLIER JOHAN
BE 0478.545.837
Koksijde · Eq €184,907
LAPIS MANAGEMENT
BE 0456.011.153
Gent · Eq €185,289
Saelen Guy
BE 0897.554.955
Hulshout · Eq €185,529
ZUIDBOUW
BE 0505.766.116
Antwerpen · Eq €184,538
Of 7,298 companies in this sector we hold annual accounts for 2,364. 1,827 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
16 eventsLatest 28-08-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-08
State Gazette act
Registered officeRegistered-office move3 facts ▸
State Gazette act
Registered office
Registered-office move3 facts ▸
- Board meeting, 20-08-2026
- Registered-office move, Staatsbaan 20, 3945 Tessenderlo-Ham
- Other statement, publication identifier, 26356373
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
25-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 86 days late
21-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 233 days late
2022
31-12
Financial
Highest result since 2018net €43,566 ▲77.1%
Operating result €61,833, net result €43,566, both a record.
31-12
Financial
Equity above €150,000Eq €177,076 ▲32.6%
3 profitable years in a row build equity to €177,076.
09-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 405 days late
2020
31-12
Financial
Back to profitnet €11,786
Net result €11,786 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €108,906 ▲11.5%
Equity rises from €97,701 to €108,906.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 122 days late
Show earlier events
2019
31-12
Financial
Weakest financial yearnet -€1,036
Net result drops to -€1,036, the lowest in the series; recovery starts the following year.
07-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 7 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 58 days late
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Company details
Public limited company · founded 14-10-1980Year ends 31-12Peppol reachable2 sites
Register details
Identification
Legal formPublic limited company
Founded14-10-1980
Fiscal year end31-12
Activities, NACEBEL 2025
43350Other building finishing work
52100Warehousing and storage
E-invoicing
Reachable via Peppol
Peppol ID
0208:0421040178
Also
9925:BE0421040178
Registered
09-07-2025
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.
Sites & property
Location & real-estate footprint
Registered office, Tessenderlo-Ham · 2 establishment units since 1980
Ground area
3.9 ha
Building footprint
1.3 ha
Volume, LiDAR
128,419 m³
2 parcels, Flanders · tallest building 22.4 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
2 establishment units
Ferdinand Coosemansstraat 66, 2600 Antwerpen
since 1980unit no. 2.142.858.672
Staatsbaan 20, 3945 Tessenderlo-Ham
since 1981unit no. 2.142.858.771
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71033A1305/00N000 | Flanders | 3.8 ha | 1 · 1.2 ha | 22.4 m · 3 fl. |
| 11003B0243/00C011 | Flanders | 1,045 m² | 1 · 1,033 m² | 11.7 m · 2 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.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check
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