RaVaCo
ActiveSummary
RaVaCo has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €24,687 and a net result of -€12,458. Equity is growing by ~17.2% per year across the filed fiscal years. Its solvency ranks better than 27% of 14220 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▲+3
Solvency30▼-2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days acceptable
Liquidity short (current ratio 0.71 against 5.4 in 2024; short-term debt: 15% and cash: 0.3% of total assets), and 95.1% 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
4.9%
Return on assets
-2.5%
Age of the figures
15 mo
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
19202122232425
2019 to 2025 · latest year -€12,458
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 23-01-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
7 d early
2023
5 d early
2022
1 d early
2021
28 d early
2020
6 d early
2019
16 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 10 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€24,687▼ 33.5%
2024 · €37,145
Total assets
€500,554▼ 3.3%
2024 · €517,551
Net result
-€12,458▼ 763%
2024 · -€1,443
Working capital
-€21,912
2024 · €325,443
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€4,668▲ 126%€11,552▲ 147%€13,726▲ 18.8%€3,775▼ 72.5%-€7,710
Net result€3,694▲ 232%€10,153▲ 175%€9,544▼ 6.0%-€1,443-€12,458▼ 763%
Equity€19,690▲ 17.2%€29,044▲ 47.5%€38,588▲ 32.9%€37,145▼ 3.7%€24,687▼ 33.5%
Total assets€168,342▲ 194%€150,319▼ 10.7%€483,968▲ 222%€517,551▲ 6.9%€500,554▼ 3.3%
Debt€148,652▲ 268%€121,275▼ 18.4%€445,380▲ 267%€480,406▲ 7.9%€475,867▼ 0.9%
Working capital€42,699-€25,589€335,393€325,443▼ 3.0%-€21,912
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2023 Total assets +222% on 2022. Cause not known from the registers.
- 2021 Total assets +194% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €7,710 after €3,775 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €500,554
Fixed assets
€447,537 ▲ 279%
Current assets
€53,017 ▼ 86.7%
Equity and liabilities €500,554
Equity
€24,687 ▼ 33.5%
Debt
€475,867 ▼ 0.9%
Debt's share of the balance-sheet total rises from 92.8% to 95.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€22,741▲
2024 · €19,421
Cash flow
€17,994▲
2024 · €14,202
Current ratio
0.71▼
2024 · 5.40
Quick ratio
0.52▲
2024 · 0.34
Debt to equity
19.28▲
2024 · 12.93
ROE
-50.5%▼
2024 · -3.9%
ROA
-2.5%▼
2024 · -0.3%
Interest coverage
4.95▲
2024 · 4.22
Debt ≤ 1 year
€74,930▲
2024 · €73,895
Debt > 1 year
€400,937▼
2024 · €406,511
Income taxes
€152▼
2024 · €617
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 912 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 95% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a small loss
2.0%
went bankrupt
2.1%
stopped otherwise
95%
still going
A further 0.8% 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 497,058 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 912 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,716 | €12,640 | €15,581 | €15,646 | €30,451 | ▲ 94.6% |
| Other operating charges640/8 | - | €360 | €13,091 | €3,424 | €2,709 | ▼ 20.9% |
| Gross operating margin9900 | €11,546 | €24,552 | €42,398 | €22,845 | €25,451 | ▲ 11.4% |
| Operating profit (loss)9901 | €4,668 | €11,552 | €13,726 | €3,775 | -€7,710 | ▼ 304% |
| Financial income75/76B | - | €6 | €3 | €0 | €0 | ▼ 83.3% |
| Recurring financial income75 | €1 | €6 | €3 | €0 | €0 | ▼ 83.3% |
| Financial charges65/66B | - | €1,246 | €4,021 | €4,602 | €4,596 | ▼ 0.1% |
| Recurring financial charges65 | €822 | €1,246 | €4,021 | €4,602 | €4,596 | ▼ 0.1% |
| Profit (loss) for the period before taxes9903 | €3,847 | €10,312 | €9,708 | -€827 | -€12,306 | ▼ 1,389% |
| Income taxes67/77 | €153 | €158 | €164 | €617 | €152 | ▼ 75.3% |
| Profit (loss) for the period9904 | €3,694 | €10,153 | €9,544 | -€1,443 | -€12,458 | ▼ 763% |
| Profit (loss) for the period to be appropriated9905 | €3,694 | €10,153 | €9,544 | -€1,443 | -€12,458 | ▼ 763% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €168,342 | €150,319 | €483,968 | €517,551 | €500,554 | ▼ 3.3% |
| Fixed assets21/28 | €64,004 | €133,462 | €118,150 | €118,213 | €447,537 | ▲ 279% |
| Tangible fixed assets22/27 | €64,004 | €133,462 | €118,150 | €118,213 | €447,537 | ▲ 279% |
| Land and buildings22 | - | €99,720 | €92,832 | €101,320 | €438,696 | ▲ 333% |
| Plant, machinery and equipment23 | - | €19,253 | €14,254 | €9,255 | €4,256 | ▼ 54.0% |
| Furniture and vehicles24 | - | €14,490 | €11,064 | €7,638 | €4,585 | ▼ 40.0% |
| Current assets29/58 | €104,339 | €16,857 | €365,819 | €399,338 | €53,017 | ▼ 86.7% |
| Stocks and contracts in progress3 | - | - | €341,504 | €374,286 | €13,721 | ▼ 96.3% |
| Stocks30/36 | - | - | €341,504 | €374,286 | €13,721 | ▼ 96.3% |
| Amounts receivable within one year40/41 | €47,390 | €15,050 | €17,014 | €20,791 | €35,335 | ▲ 70.0% |
| Trade receivables40 | - | €15,000 | €12,000 | €6,738 | €28,954 | ▲ 330% |
| Other amounts receivable41 | - | €50 | €5,014 | €14,053 | €6,382 | ▼ 54.6% |
| Cash at bank and in hand54/58 | €56,710 | €1,583 | €5,897 | €2,951 | €1,261 | ▼ 57.3% |
| Deferred charges and accrued income490/1 | - | €224 | €1,404 | €1,310 | €2,700 | ▲ 106% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €168,342 | €150,319 | €483,968 | €517,551 | €500,554 | ▼ 3.3% |
| Equity10/15 | €19,690 | €29,044 | €38,588 | €37,145 | €24,687 | ▼ 33.5% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €13,490 | €22,844 | €32,388 | €32,388 | €32,388 | = |
| Distributable reserves133 | - | €22,844 | €32,388 | €32,388 | €32,388 | = |
| Profit (loss) carried forward14 | - | €0 | €0 | -€1,443 | -€13,901 | ▼ 863% |
| Amounts payable17/49 | €148,652 | €121,275 | €445,380 | €480,406 | €475,867 | ▼ 0.9% |
| Amounts payable after more than one year17 | €87,012 | €78,330 | €414,955 | €406,511 | €400,937 | ▼ 1.4% |
| Financial debts170/4 | - | €78,330 | €414,955 | €406,511 | €400,937 | ▼ 1.4% |
| Amounts payable within one year42/48 | €61,640 | €42,445 | €30,426 | €73,895 | €74,930 | ▲ 1.4% |
| Current portion of amounts payable after more than one year42 | - | €8,308 | €8,375 | €8,443 | €5,733 | ▼ 32.1% |
| Trade debts44 | €48,284 | €1,854 | €3,059 | €7,588 | €3,687 | ▼ 51.4% |
| Suppliers440/4 | - | €1,854 | €3,059 | €7,588 | €3,687 | ▼ 51.4% |
| Taxes, remuneration and social security45 | - | €367 | €2,134 | €8,383 | €6,727 | ▼ 19.8% |
| Taxes450/3 | - | €367 | €672 | €6,583 | €4,927 | ▼ 25.2% |
| Remuneration and social security454/9 | - | - | €1,462 | €1,800 | €1,800 | = |
| Other amounts payable47/48 | - | €31,917 | €16,857 | €49,481 | €58,783 | ▲ 18.8% |
| Accrued charges and deferred income492/3 | - | €500 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,694 | €10,153 | €9,544 | -€1,443 | -€12,458 | ▼ 763% |
| + Depreciation and write-downs630 | €6,716 | €12,640 | €15,581 | €15,646 | €30,451 | ▲ 94.6% |
| Operating cash flow (approximation) | €10,410 | €22,794 | €25,125 | €14,202 | €17,994 | ▲ 26.7% |
| Investment in fixed assets (approximation) | - | -€82,099 | -€268 | -€15,709 | -€359,775 | ▼ 2,190% |
| Change in cash | - | -€55,128 | €4,314 | -€2,946 | -€1,690 | ▲ 42.6% |
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
23-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet -€12,458
Net result drops to -€12,458, the lowest in the series.
24-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Liquidity times 30current ratio 12.02
Current ratio from 0.40 to 12.02; short-term debt falls from €42,445 to €30,426.
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Highest result since 2019net €10,153 ▲175%
Net result €10,153, the highest in the series.
03-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
15-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
22-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
12-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
21-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Kortrijk · 1 establishment unit since 2012
Ground area
1,233 m²
Building footprint
177 m²
Volume, LiDAR
962 m³
Parcel 34026A0667/00Z000, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
RaVaCo
since 20122.215.011.331
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34026A0667/00Z000 | Flanders | 1,233 m² | 1 · 177 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.
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Of 1,530 companies in sector 68322 we hold annual accounts for 741. 441 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
Founded17-12-2012
Fiscal year end30-06
Activities, NACEBEL 2025
68322Real estate appraisal on a fee or contract basis
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
81100Combined facilities support activities
Contact
Phone
0485197139
E-invoicing
Reachable via Peppol
Peppol ID
0208:0508453412
Also
9925:BE0508453412
Registered
08-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.