RAULET
ActiveSummary
RAULET has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €82,644 and a net result of -€22,340. Equity is growing by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 59% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-70
Solvency80▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 2.22 against 2.38 in 2024; short-term debt: 44.9% and cash: 5.8% of total assets), and 44.9% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+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 →
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
55.1%
Return on assets
-14.9%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 30-04-2026, 0 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
1 d early
2022
2 d early
2021
1 d early
2020
on the day
2019
on the day
← 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 1 day 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 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
Equity
€82,644▼ 21.3%
2024 · €104,983
Total assets
€149,945▼ 15.9%
2024 · €178,324
Net result
-€22,340
2024 · €1,700
Working capital
€82,366▼ 18.8%
2024 · €101,449
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€28,824▲ 281%€27,621▼ 4.2%€18,729▼ 32.2%€5,590▼ 70.2%-€21,293
Net result€21,151▲ 226%€17,153▼ 18.9%€10,870▼ 36.6%€1,700▼ 84.4%-€22,340
Equity€75,261▲ 39.1%€92,414▲ 22.8%€103,284▲ 11.8%€104,983▲ 1.6%€82,644▼ 21.3%
Total assets€131,546▼ 12.1%€168,584▲ 28.2%€161,154▼ 4.4%€178,324▲ 10.7%€149,945▼ 15.9%
Debt€56,285▼ 41.1%€76,170▲ 35.3%€57,870▼ 24.0%€73,341▲ 26.7%€67,302▼ 8.2%
Working capital€60,832▲ 35.0%€80,018▲ 31.5%€94,988▲ 18.7%€101,449▲ 6.8%€82,366▼ 18.8%
Staff (FTE)1▼ 28.6%1.1▲ 10.0%1.8▲ 63.6%2▲ 11.1%1.8▼ 10.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €21,293 after €5,590 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €149,945
Fixed assets
€277 ▼ 92.2%
Current assets
€149,668 ▼ 14.4%
Equity and liabilities €149,945
Equity
€82,644 ▼ 21.3%
Debt
€67,302 ▼ 8.2%
Debt's share of the balance-sheet total rises from 41.1% to 44.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€18,036▼
2024 · €13,620
Cash flow
-€19,083▼
2024 · €9,730
Current ratio
2.22▼
2024 · 2.38
Quick ratio
1.99▼
2024 · 2.15
Debt to equity
0.81▲
2024 · 0.70
ROE
-27.0%▼
2024 · 1.6%
ROA
-14.9%▼
2024 · 1.0%
Interest coverage
-16.78▼
2024 · 15.84
Debt ≤ 1 year
€67,302▼
2024 · €73,341
Staff costs
€111,357▲
2024 · €110,188
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,815 companies that looked in July 2024 the way this one looks now, 1.9% went bankrupt within 24 months and 88% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.9%
went bankrupt
9.9%
stopped otherwise
88%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 4,815 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €61,144 | €34,138 | €63,717 | €110,188 | €111,357 | ▲ 1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,940 | €9,194 | €9,425 | €8,031 | €3,257 | ▼ 59.4% |
| Other operating charges640/8 | €603 | €1,520 | €1,320 | €1,733 | €5,056 | ▲ 192% |
| Gross operating margin9900 | €101,510 | €72,474 | €93,190 | €125,542 | €98,377 | ▼ 21.6% |
| Operating profit (loss)9901 | €28,824 | €27,621 | €18,729 | €5,590 | -€21,293 | ▼ 481% |
| Financial income75/76B | €108 | €100 | €54 | €1 | €28 | ▲ 2,145% |
| Recurring financial income75 | €108 | €100 | €54 | €1 | €28 | ▲ 2,145% |
| Financial charges65/66B | €813 | €1,124 | €684 | €860 | €1,075 | ▲ 25.0% |
| Recurring financial charges65 | €813 | €1,124 | €684 | €860 | €1,075 | ▲ 25.0% |
| Profit (loss) for the period before taxes9903 | €28,119 | €26,597 | €18,099 | €4,731 | -€22,340 | ▼ 572% |
| Income taxes67/77 | €6,968 | €9,443 | €7,230 | €3,032 | - | - |
| Profit (loss) for the period9904 | €21,151 | €17,153 | €10,870 | €1,700 | -€22,340 | ▼ 1,414% |
| Profit (loss) for the period to be appropriated9905 | €21,151 | €17,153 | €10,870 | €1,700 | -€22,340 | ▼ 1,414% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €131,546 | €168,584 | €161,154 | €178,324 | €149,945 | ▼ 15.9% |
| Fixed assets21/28 | €27,224 | €20,480 | €11,565 | €3,534 | €277 | ▼ 92.2% |
| Tangible fixed assets22/27 | €27,224 | €20,480 | €11,565 | €3,534 | €277 | ▼ 92.2% |
| Plant, machinery and equipment23 | - | €1,292 | €1,273 | €671 | €277 | ▼ 58.7% |
| Furniture and vehicles24 | €27,224 | €19,187 | €10,291 | €2,863 | - | - |
| Current assets29/58 | €104,321 | €148,105 | €149,589 | €174,790 | €149,668 | ▼ 14.4% |
| Stocks and contracts in progress3 | €2,922 | €3,799 | €15,325 | €16,941 | €15,742 | ▼ 7.1% |
| Stocks30/36 | €2,922 | €3,799 | €15,325 | €16,941 | €15,742 | ▼ 7.1% |
| Amounts receivable within one year40/41 | €67,052 | €116,487 | €132,593 | €130,023 | €125,133 | ▼ 3.8% |
| Trade receivables40 | €39,347 | €68,538 | €79,483 | €82,928 | €59,425 | ▼ 28.3% |
| Other amounts receivable41 | €27,705 | €47,949 | €53,110 | €47,095 | €65,708 | ▲ 39.5% |
| Cash at bank and in hand54/58 | €32,468 | €26,544 | - | €26,951 | €8,694 | ▼ 67.7% |
| Deferred charges and accrued income490/1 | €1,879 | €1,275 | €1,672 | €875 | €99 | ▼ 88.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €131,546 | €168,584 | €161,154 | €178,324 | €149,945 | ▼ 15.9% |
| Equity10/15 | €75,261 | €92,414 | €103,284 | €104,983 | €82,644 | ▼ 21.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €69,061 | €86,214 | €97,084 | €98,783 | €76,444 | ▼ 22.6% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | €67,201 | €84,354 | €95,224 | €98,783 | €76,444 | ▼ 22.6% |
| Amounts payable17/49 | €56,285 | €76,170 | €57,870 | €73,341 | €67,302 | ▼ 8.2% |
| Amounts payable after more than one year17 | €12,795 | €8,083 | €3,269 | - | - | - |
| Financial debts170/4 | €12,795 | €8,083 | €3,269 | - | - | - |
| Amounts payable within one year42/48 | €43,490 | €68,087 | €54,602 | €73,341 | €67,302 | ▼ 8.2% |
| Current portion of amounts payable after more than one year42 | €4,512 | €4,712 | €4,815 | €3,269 | - | - |
| Financial debts43 | - | - | €1,372 | - | - | - |
| Credit institutions430/8 | - | - | €1,372 | - | - | - |
| Trade debts44 | €20,275 | €46,382 | €26,374 | €54,471 | €56,747 | ▲ 4.2% |
| Suppliers440/4 | €20,275 | €46,382 | €26,374 | €54,471 | €56,747 | ▲ 4.2% |
| Taxes, remuneration and social security45 | €18,703 | €16,993 | €22,041 | €15,601 | €10,554 | ▼ 32.3% |
| Taxes450/3 | €10,479 | €14,584 | €12,197 | €9,943 | €8,925 | ▼ 10.2% |
| Remuneration and social security454/9 | €8,224 | €2,408 | €9,843 | €5,658 | €1,630 | ▼ 71.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,151 | €17,153 | €10,870 | €1,700 | -€22,340 | ▼ 1,414% |
| + Depreciation and write-downs630 | €10,940 | €9,194 | €9,425 | €8,031 | €3,257 | ▼ 59.4% |
| Operating cash flow (approximation) | €32,090 | €26,348 | €20,294 | €9,730 | -€19,083 | ▼ 296% |
| Investment in fixed assets (approximation) | - | -€2,450 | -€510 | €0 | €0 | - |
| Change in cash | - | -€5,924 | - | - | -€18,257 | - |
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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Weakest financial yearnet -€22,340
Net result drops to -€22,340, the lowest in the series.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Equity above €100,000Eq €103,284 ▲11.8%
6 profitable years in a row build equity to €103,284.
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Highest result since 2018net €21,713 ▲71%
Operating result €32,035, net result €21,713, both a record.
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
09-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
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, Kapellen · 1 establishment unit since 2016
Ground area
1,209 m²
Building footprint
388 m²
Volume, LiDAR
2,285 m³
2 parcels, Flanders · tallest building 9.6 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
RAULET
since 20162.254.832.603
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11902E0241/00M002 | Flanders | 792 m² | 1 · 190 m² | 6.9 m · 1 fl. |
| 11902E0317/00R003 | Flanders | 417 m² | 1 · 198 m² | 9.6 m · 3 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 500 EUR awarded · 500 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 500 EUR | 500 EUR |
Schemes
Recognitions · licences · registrations
Dual-learning approval
5 live approvals · 4 endedMonteur sanitaire en verwarmingsinstallaties duaal (so)
Sanitaire en verwarmingsinstallaties duaal (so)
Technicus installatietechnieken (vwo)
Technicus installatietechnieken duaal (so)
Vakman installatietechnieken (vwo)
Show 4 ended approvals
Monteur centrale verwarming (so)
Sanitair installateur (so)
Monteur centrale verwarming (so)
Sanitair installateur (so)
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Of 7,043 companies in sector 43221 we hold annual accounts for 3,473. 3,068 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
Founded05-07-2016
Fiscal year end30-09
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43240Other construction installation
46492Wholesale trade
71121Engineering and related technical consultancy, excluding land surveyors
73120Media representation
E-invoicing
Not found in the Peppol register
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Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.