Ray Care
ActiveSummary
The computed 12-month bankruptcy probability of Ray Care is 3.2% (moderate). The 2025 annual accounts show equity of €1.1m and a net result of €961,581. Equity is growing by ~498.8% per year across the filed fiscal years. Its solvency ranks better than 48% of 8281 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency66▲+33
Growth78=
Track record94
Bankruptcy probability, 12 months
3.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity short (current ratio 0.8 against 0.77 in 2024; short-term debt: 40% and cash: 11.2% of total assets), and 58.6% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
41.4%
Return on assets
35.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-09-2026, 33 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 · 4 filingsDeviation from the deadline
2025
33 d late
2024
21 d late
2023
65 d early
2022
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 13 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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 27 August (3 of the last 4 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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 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 What other support did companies like this one receive, and it did not?Subsidies
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, abbreviated schema
Equity
€1.1m▲ 617%
2024 · €155,859
Total assets
€2.7m▲ 32.7%
2024 · €2.0m
Net result
€961,581▲ 30.0%
2024 · €739,599
Working capital
-€214,261▲ 46.3%
2024 · -€398,645
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 46, Wholesale trade, 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
Line2022202320242025
Operating result€74,091-€467,070▲ 530%€800,825▲ 71.5%€1.3m▲ 65.9%
Net result€66,432above the sector's middle half-€457,329above the sector's middle half▲ 588%€739,599above the sector's middle half▲ 61.7%€961,581above the sector's middle half▲ 30.0%
Equity€8,932within the sector's middle half-€16,261within the sector's middle half▲ 82.1%€155,859within the sector's middle half▲ 859%€1.1mabove the sector's middle half▲ 617%
Total assets€335,162within the sector's middle half-€829,953above the sector's middle half▲ 148%€2.0mwithin the sector's middle half▲ 145%€2.7mabove the sector's middle half▲ 32.7%
Debt€326,230-€813,693▲ 149%€1.9m▲ 131%€1.6m▼ 15.9%
Working capital-€54,690below the sector's middle half--€220,705below the sector's middle half▼ 304%-€398,645below the sector's middle half▼ 80.6%-€214,261below the sector's middle half▲ 46.3%
Solvency2.7%below the sector's middle half-2.0%below the sector's middle half▼ 0.7pp7.7%below the sector's middle half▲ 5.7pp41.4%within the sector's middle half▲ 33.8pp
Current ratio0.81below the sector's middle half-0.72below the sector's middle half▼ 0.090.77below the sector's middle half▲ 0.040.80below the sector's middle half▲ 0.04
Return on assets (ROA)19.8%above the sector's middle half-55.1%above the sector's middle half▲ 35.3pp36.4%above the sector's middle half▼ 18.7pp35.7%above the sector's middle half▼ 0.7pp
Staff (FTE)1.8-3.9▲ 117%12.7above the sector's middle half▲ 226%21.7above the sector's middle half▲ 70.9%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2024 Net result +62%, Staff (FTE) +226% on 2023. The accounts now follow the abbreviated schema, last year the micro schema.
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2025 is 66% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.7m
Fixed assets
€1.8m ▲ 150%
Current assets
€864,957 ▼ 33.5%
Equity and liabilities €2.7m
Equity
€1.1m ▲ 617%
Debt
€1.6m ▼ 15.9%
Debt's share of the balance-sheet total falls from 92.3% to 58.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.6m▲
2024 · €923,321
Cash flow
€1.2m▲
2024 · €862,095
Quick ratio
0.45▼
2024 · 0.63
Debt to equity
1.41▼
2024 · 12.04
ROE
86.1%▼
2024 · 474.5%
Interest coverage
43.78▼
2024 · 67.70
Debt ≤ 1 year
€1.1m▼
2024 · €1.7m
Debt > 1 year
€499,930▲
2024 · €176,755
Income taxes
€357,911▲
2024 · €52,767
Staff costs
€1.4m▲
2024 · €834,050
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,781 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
2.7%
stopped otherwise
97%
still going
For this company itself Checked computes a higher bankruptcy probability: 3.2% 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 497,341 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 6,781 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €120,914 | €250,312 | €834,050 | €1.4m | ▲ 67.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,129 | €40,526 | €122,496 | €228,227 | ▲ 86.3% |
| Other operating charges640/8 | €1,335 | €5,703 | €16,622 | €38,433 | ▲ 131% |
| Non-recurring operating charges66A | €4,583 | €0 | €16 | €3,710 | ▲ 23,290% |
| Gross operating margin9900 | €224,051 | €763,610 | €1.8m | €3.0m | ▲ 68.6% |
| Operating profit (loss)9901 | €74,091 | €467,070 | €800,825 | €1.3m | ▲ 65.9% |
| Financial income75/76B | €861 | €918 | €5,179 | €26,778 | ▲ 417% |
| Recurring financial income75 | €861 | €918 | €5,179 | €26,778 | ▲ 417% |
| Financial charges65/66B | €7,446 | €3,961 | €13,639 | €35,553 | ▲ 161% |
| Recurring financial charges65 | €7,446 | €3,961 | €13,639 | €35,553 | ▲ 161% |
| Profit (loss) for the period before taxes9903 | €67,506 | €464,027 | €792,365 | €1.3m | ▲ 66.5% |
| Income taxes67/77 | €1,075 | €6,698 | €52,767 | €357,911 | ▲ 578% |
| Profit (loss) for the period9904 | €66,432 | €457,329 | €739,599 | €961,581 | ▲ 30.0% |
| Profit (loss) for the period to be appropriated9905 | €66,432 | €457,329 | €739,599 | €961,581 | ▲ 30.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €335,162 | €829,953 | €2.0m | €2.7m | ▲ 32.7% |
| Fixed assets21/28 | €95,938 | €258,969 | €731,259 | €1.8m | ▲ 150% |
| Intangible fixed assets21 | €28,724 | €33,656 | €85,504 | €49,309 | ▼ 42.3% |
| Tangible fixed assets22/27 | €66,596 | €195,695 | €572,038 | €1.2m | ▲ 111% |
| Plant, machinery and equipment23 | €12,281 | €13,943 | €62,651 | €151,717 | ▲ 142% |
| Furniture and vehicles24 | €52,685 | €162,117 | €234,524 | €189,493 | ▼ 19.2% |
| Other tangible fixed assets26 | €1,630 | €19,636 | €274,863 | €864,970 | ▲ 215% |
| Financial fixed assets28 | €617 | €29,617 | €73,717 | €576,143 | ▲ 682% |
| Current assets29/58 | €239,224 | €570,984 | €1.3m | €864,957 | ▼ 33.5% |
| Stocks and contracts in progress3 | €45,304 | €108,264 | €225,394 | €374,154 | ▲ 66.0% |
| Stocks30/36 | €45,304 | €108,264 | €225,394 | €374,154 | ▲ 66.0% |
| Amounts receivable within one year40/41 | €57,498 | €134,710 | €162,894 | €136,653 | ▼ 16.1% |
| Trade receivables40 | €48,321 | €65,012 | €64,732 | €104,141 | ▲ 60.9% |
| Other amounts receivable41 | €9,177 | €69,698 | €98,163 | €32,512 | ▼ 66.9% |
| Cash at bank and in hand54/58 | €131,644 | €315,610 | €895,631 | €300,716 | ▼ 66.4% |
| Deferred charges and accrued income490/1 | €4,778 | €12,400 | €17,534 | €53,435 | ▲ 205% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €335,162 | €829,953 | €2.0m | €2.7m | ▲ 32.7% |
| Equity10/15 | €8,932 | €16,261 | €155,859 | €1.1m | ▲ 617% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €6,432 | €13,761 | €153,359 | €1.1m | ▲ 627% |
| Distributable reserves133 | €6,432 | €13,761 | €153,359 | €1.1m | ▲ 627% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €326,230 | €813,693 | €1.9m | €1.6m | ▼ 15.9% |
| Amounts payable after more than one year17 | €32,315 | €21,080 | €176,755 | €499,930 | ▲ 183% |
| Financial debts170/4 | €32,315 | €21,080 | €176,755 | €499,930 | ▲ 183% |
| Amounts payable within one year42/48 | €293,915 | €791,690 | €1.7m | €1.1m | ▼ 36.5% |
| Current portion of amounts payable after more than one year42 | €10,869 | €11,235 | €38,582 | €333,369 | ▲ 764% |
| Financial debts43 | €7,577 | €2,627 | €4,515 | €1,361 | ▼ 69.9% |
| Credit institutions430/8 | €7,577 | €2,627 | €4,515 | €1,361 | ▼ 69.9% |
| Trade debts44 | €17,880 | €123,286 | €898,805 | €389,006 | ▼ 56.7% |
| Suppliers440/4 | €17,880 | €123,286 | €898,805 | €389,006 | ▼ 56.7% |
| Advances received on contracts in progress46 | - | - | - | €53,598 | - |
| Taxes, remuneration and social security45 | €67,399 | €129,149 | €157,084 | €301,885 | ▲ 92.2% |
| Taxes450/3 | €47,938 | €101,360 | €77,088 | €121,138 | ▲ 57.1% |
| Remuneration and social security454/9 | €19,462 | €27,789 | €79,996 | €180,747 | ▲ 126% |
| Other amounts payable47/48 | €190,190 | €525,392 | €601,111 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €923 | €0 | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €66,432 | €457,329 | €739,599 | €961,581 | ▲ 30.0% |
| + Depreciation and write-downs630 | €23,129 | €40,526 | €122,496 | €228,227 | ▲ 86.3% |
| Operating cash flow (approximation) | €89,561 | €497,855 | €862,095 | €1.2m | ▲ 38.0% |
| Investment in fixed assets (approximation) | - | -€203,557 | -€594,787 | -€1.3m | ▼ 123% |
| Change in cash | - | €183,966 | €580,021 | -€594,915 | ▼ 203% |
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
02-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 33 days late
03-06
State Gazette act
Registered officeRegistered-office move · Power of attorney3 facts ▸
State Gazette act
Registered office
Registered-office move · Power of attorney3 facts ▸
- General meeting, 17-04-2026
- Registered-office move, Veldstraat 62, 9000 Gent
- Power of attorney, BV A-count Kortrijk
2025
31-12
Financial
Highest result since 2022net €961,581 ▲30%
Operating result €1.3m, net result €961,581, both a record.
31-12
Financial
Equity above €1mEq €1.1m ▲617%
4 profitable years in a row build equity to €1.1m.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 21 days late
2024
31-12
Financial
Equity above €150,000Eq €155,859 ▲859%
3 profitable years in a row build equity to €155,859.
27-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
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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Directors · office · real estate
Directors
No directors read yet: 1 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Gent · 7 establishment units since 2021
Ground area
6.0 ha
Building footprint
5.0 ha
Volume, LiDAR
521,502 m³
7 parcels, Flanders · tallest building 27.4 m, ±6 floors. Linked by address, not a title deed.
7 establishment units
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since 20262.384.841.901
Show 1 more locations
Ray Wijnegem Shopping Center
since 20262.387.757.839
7 parcels
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. |
Linked by address, not proof of ownership
Good to know
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: expect extra rules on renovation or sale.
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 47,154 EUR awarded · 47,154 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | -2,846 EUR | 0 EUR |
| 2023 | 1 | 0 EUR | 22,154 EUR |
| 2022 | 1 | 50,000 EUR | 25,000 EUR |
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Of 797 companies in this sector we hold annual accounts for 452. 232 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded01-03-2021
Fiscal year end31-12
Activities, NACEBEL 2025
20420Manufacture of chemicals and chemical products
46450Wholesale of perfume and cosmetics
47120Other non-specialised retail sale
47750Retail sale of cosmetics and toilet articles
Contact
E-mail
thomas.kindermans@ray.careWijnegem
Phone
0476449462Wijnegem
E-invoicing
Reachable via Peppol
Peppol ID
0208:0764486593
Registered
01-01-2026
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.