Summary
Conclusion
the dossier summarised in one paragraphThe computed 12-month bankruptcy probability of Ray Care is 4.0% (elevated). The 2024 annual accounts show equity of €156k and a net result of €740k. Equity is growing by ~451.8% per year across the filed fiscal years. Its solvency ranks better than 26% of 963 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 3 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyone4.0%
Elevated
0%0,5%1,5%4%10%≥25%
Multiple establishment units
+Young company
+Higher-failure-rate sector
+
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Signals
2 signals · with evidenceConsistently profitable
Positive net result in the two most recent financial years (2023 and 2024).
View the result trend Growing equity
Equity grew over 2022-2024. Profits are largely retained rather than distributed.
View the equity trend Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 12 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 21-08-2025, 21 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.
How we compute the deadline
The year end is derived from 3 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | 21-08-2025 | 21 d late | 2025-00388748 |
| 31-12-2023 | 31-07-2024 | 27-05-2024 | 65 d early | 2024-00096819 |
| 31-12-2022 | 31-07-2023 | 30-09-2023 | 61 d late | 2023-00467381 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsMore than 3 years active
Founded in 2021, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€740k+61.7%
Working capital€-399k-80.6%
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 21-08-2025 with the NBB · fiscal year 2024 · verkort
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~451.8%/year over 3 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 46, Wholesale trade · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 7.7% | 27.4% | |
| Net result | €740k | €24k | |
| Equity | €156k | €172k | |
| Gross operating margin | €1.77M | €174k | |
| Staff costs | €834k | €166k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P26
Stable position over 2022-2024
· n=780-963
P95
Improving position over 2022-2024
· n=782-963
P48
Improving position over 2022-2024
· n=782-963
P95
Improving position over 2022-2024
· n=781-961
Describes the position versus peers, not a forecast.
€923k
+81.9%
22-24
€740k
+61.7%
22-24
€862k
+73.2%
22-24
€2.03M
+144.9%
22-24
€156k
+858.5%
22-24
€-399k
-80.6%
22-24
13
+225.6%
22-24
€834k
+233.2%
22-24
€53k
+687.8%
22-24
€1.88M
+130.7%
22-24
€1.70M
+114.7%
22-24
€177k
+738.5%
22-24
0.77
+6.1%
22-24
0.63
+8.3%
22-24
7.7%
+291.4%
22-24
12.04
-75.9%
22-24
474.5%
-83.1%
22-24
36.4%
-34.0%
22-24
67.70
-47.2%
22-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €923k |
| Net profit | €740k |
| Cash flow | €862k |
| Staff costs | €834k |
| Income taxes | €53k |
| Dividends | - |
| Total assets | €2.03M |
| Equity | €156k |
| Debt | €1.88M |
| of which ≤ 1y | €1.70M |
| of which > 1y | €177k |
| Working capital | €-399k |
| Employees (FTE) | 12.7 |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 0.77 |
| Quick ratio | 0.63 |
| Working capital ratio | -19.6% |
| Solvency | 7.7% |
| Debt / equity | 12.04 |
| Long-term debt ratio | 1.13 |
| Interest coverage | 67.70 |
| Gross margin | - |
| Net margin | - |
| ROA | 36.4% |
| ROE | 474.5% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €2.03M |
| Fixed assets | 21/28 | €731k |
| Intangible fixed assets | 21 | €86k |
| Tangible fixed assets | 22/27 | €572k |
| Financial fixed assets | 28 | €74k |
| Current assets | 29/58 | €1.30M |
| Stocks & contracts in progress | 3 | €225k |
| Amounts receivable within one year | 40/41 | €163k |
| Cash & bank | 54/58 | €896k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €2.03M |
| Equity | 10/15 | €156k |
| Contributions / capital | 10/11 | €3k |
| Reserves | 13 | €153k |
| Accumulated profits (losses) | 14 | €0 |
| Amounts payable | 17/49 | €1.88M |
| Amounts payable after one year | 17 | €177k |
| Amounts payable within one year | 42/48 | €1.70M |
| Trade debts payable within one year | 44 | €899k |
| Income statement | ||
| Gross operating margin | 9900 | €1.77M |
| Operating result | 9901 | €801k |
| Financial income | 75 | €5k |
| Financial charges | 65 | €14k |
| Result before taxes | 9903 | €792k |
| Income taxes | 67/77 | €53k |
| Net result for the period | 9904 | €740k |
| Result to be appropriated | 9905 | €740k |
You're seeing the latest fiscal year only. Unlock 2 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed56
/ 100
Fair
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Directors
Directors & mandates
1 directorFormer directors (1)
-
Former- → 26-12-2022
2 events
- 26-12-2022 Resigned· Director
- 26-12-2022 Resigned· Managing director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.
Insolvency mandates
No insolvency mandates (liquidators, administrators) on record for this company.
Legal Structure
| NACE primary | Groothandel in parfumerieën en cosmetica(46450) |
| Legal form | Private limited company(610) |
| Incorporation | 01-03-2021 |
| Status | Active |
| Postal code | 9000 |
Structure & network
Locations & real estate
Registered office
from the Crossroads BankCannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Veldstraat 629000 GentEstablishment units
7 locationsRay Gent
since 20212.314.257.771
Ray Brugge
since 20242.362.737.183
Ray Antwerpen
since 20242.362.737.282
Ray Nazareth
since 20242.362.737.381
Ray Leuven
since 20242.362.737.480
Ray Hasselt
since 20262.384.841.901
Ray Wijnegem Shopping Center
since 20262.387.757.839
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels7
Ground area6.0 ha
Buildings7
Building footprint5.0 ha
Volume (LiDAR)521,502 m³
Tallest building27.4 m · ±6 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
7
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11050B0010/00E002 | Flanders | 5.6 ha | 1 · 4.9 ha | 27.4 m · 4 fl. |
| 44048A0114/00H002 | Flanders | 1,777 m² | 1 · 594 m² | 7.6 m · 2 fl. |
| 71022H1417/00S000 | Flanders | 991 m² | 1 · 127 m² | 18.2 m · 5 fl. |
| 44803C1196/00F000 | Flanders | 244 m² | 1 · 122 m² | 19.5 m · 6 fl. |
| 11803C1740/00D000 | Flanders | 152 m² | 1 · 182 m² | 18.0 m · 5 fl. |
| 24505F0621/00E000 | Flanders | 143 m² | 1 · 130 m² | 15.1 m · 3 fl. |
| 31804D0576/00E000 | Flanders | 84 m² | 1 · 75 m² | 15.2 m · 4 fl. |
Methodology
via registered seat: 1 · via establishment units: 6
7 of 7 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).
Publications
Lifecycle & Insolvency Signals
No insolvency signals in the Belgian State Gazette
Belgisch Staatsblad · acts
4 acts Address history · 1
03-06-2026
Seat change: new: Veldstraat 62, 9000 Gent, old: Veldstraat 66, 9000 Gent, effective_date: 2026-04-17
All acts · 4
updated 2 months ago
2026
03-06-2026 General meeting · Seat change · Power of attorney · Act object
- Publication: 2026-06-03 · Ray Care
- Filing: 2026-05-26 · Ray Care
- General meeting: date: 2026-04-17, type: bijzondere algemene vergadering · Ray Care
- Seat change: new: Veldstraat 62, 9000 Gent, old: Veldstraat 66, 9000 Gent, effective_date: 2026-04-17 · Ray Care
- Power of attorney: date: 2026-04-17, scope: acties nodig voor de uitvoering en verwerking en publicatie van de beslissingen van deze vergadering, duration: voor onbepaalde tijd en tot aan de uitdrukkelijke herroeping, granted_by: algemene vergadering · Ray Care
- Power of attorney: date: 2026-04-17, scope: publicatie van de beslissingen van deze vergadering, granted_by: BV A-count Kortrijk · BV A-count Kortrijk
- Act object: Zetel (zetelverplaatsing)
Summary:
General meeting · Seat change · Power of attorney · Act object
13-01-2026 Change in the board of directors
Summary:
v3.2
2023
01-03-2023 2 directors appointed, 2 resigning
- BV Masje, Bestuurder
- BV Masje, Gedelegeerd bestuurder
- Thomas Kindermans, Bestuurder
- Thomas Kindermans, Gedelegeerd bestuurder
Summary:
v3.2
2021
03-03-2021 Incorporation of a new BV
Summary:
oprichting
Analysis
Snowflake analysis
financial profile on 5 axes68
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
56
Profitability
100
Solvency
11
Growth
78
Stability
94
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Company registry
Company registry (CBE)
Crossroads BankActivities
Vervaardiging van parfums en toiletartikelen20420Vervaardiging van parfums en toiletartikelen20420Groothandel in parfumerieën en cosmetica46450Groothandel in parfumerieën en cosmetica46450Overige niet-gespecialiseerde detailhandel47120Detailhandel in cosmetica en toiletartikelen in gespecialiseerde winkels47750Detailhandel in cosmetica en toiletartikelen47750Detailhandel via postorderbedrijven of via internet47910
Primary activity highlighted.
Names & trade names
| Legal nameNL | Ray Care |
Registered office
Veldstraat 62
9000 Gent, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.