RAYAR
ActiveSummary
RAYAR has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €99k and a net result of €48k. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 57% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability94▼-6
Solvency67▲+4
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity ample (current ratio 1.71 against 1.58 in 2024; short-term debt: 57.9% and cash: 8.7% of total assets), but 57.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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
42.1%
Return on assets
20.2%
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
223 d late
2023
588 d late
2022
112 d late
2021
143 d late
2019
61 d late
2018
58 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€99k▲ 91.9%
2024 · €52k
2018: €25k
2019: €28k▲ +13.3% vs 2018
2021: €35k
2022: €20k▼ -41.8% vs 2021
2023: €17k▼ -17.6% vs 2022lowest value
2024: €52k▲ +210% vs 2023
2025: €99k▲ +91.9% vs 2024highest value
2018 → 2025
Total assets
€236k▲ 72.0%
2024 · €137k
2018: €91k
2019: €118k▲ +30.4% vs 2018
2021: €109k
2022: €86k▼ -20.9% vs 2021
2023: €83k▼ -4.0% vs 2022lowest value
2024: €137k▲ +66.4% vs 2023
2025: €236k▲ +72.0% vs 2024highest value
2018 → 2025
Net result
€48k▲ 35.8%
2024 · €35k
2018: €3k
2019: €3k▲ +27.8% vs 2018
2021: €1k
2022: €-15k▼ -1109% vs 2021lowest value
2023: €-4k▲ +75.6% vs 2022
2024: €35k▲ +1085% vs 2023
2025: €48k▲ +35.8% vs 2024highest value
2018 → 2025
Working capital
€98k▲ 95.2%
2024 · €50k
2018: €25k
2019: €28k▲ +13.3% vs 2018
2021: €34k
2022: €20k▼ -42.6% vs 2021
2023: €17k▼ -15.4% vs 2022lowest value
2024: €50k▲ +201% vs 2023
2025: €98k▲ +95.2% vs 2024highest value
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€35k-€20k▼ 41.8%€17k▼ 17.6%€52k▲ 210%€99k▲ 91.9%
2021: €35k
2022: €20k▼ -41.8% vs 2021
2023: €17k▼ -17.6% vs 2022lowest in 5 years
2024: €52k▲ +210% vs 2023
2025: €99k▲ +91.9% vs 2024highest in 5 years
Operating result€6k-€-14k€-4k▲ 69.1%€39k€65k▲ 67.3%
2021: €6k
2022: €-14k▼ -331% vs 2021lowest in 5 years
2023: €-4k▲ +69.1% vs 2022
2024: €39k▲ +969% vs 2023
2025: €65k▲ +67.3% vs 2024highest in 5 years
Net result€1k-€-15k€-4k▲ 75.6%€35k€48k▲ 35.8%
2021: €1k
2022: €-15k▼ -1109% vs 2021lowest in 5 years
2023: €-4k▲ +75.6% vs 2022
2024: €35k▲ +1085% vs 2023
2025: €48k▲ +35.8% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 67% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €236k
Fixed assets
€2k ▲ 3.4%
Current assets
€234k ▲ 73.0%
Equity and liabilities €236k
Equity
€99k ▲ 91.9%
Debt
€137k ▲ 59.9%
Debt's share of the balance-sheet total falls from 62.3% to 57.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€66k▲
2024 · €39k
Cash flow
€48k▲
2024 · €36k
Current ratio
1.71▲
2024 · 1.58
Quick ratio
0.25▼
2024 · 0.60
Debt to equity
1.37▼
2024 · 1.65
ROE
47.9%▼
2024 · 67.7%
ROA
20.2%▼
2024 · 25.6%
Interest coverage
15.66▲
2024 · 10.43
Debt ≤ 1 year
€137k▲
2024 · €85k
Income taxes
€13k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€137k€236k▲
Fixed assets21/28€2k€2k▲
Tangible fixed assets22/27€2k€2k▲
Land and buildings22-€766
Plant, machinery and equipment23€339€180▼
Furniture and vehicles24€1k€769▼
Financial fixed assets28€210€210=
Current assets29/58€135k€234k▲
Stocks and contracts in progress3€84k€200k▲
Stocks30/36€84k€200k▲
Current investments50/53€33k€14k▼
Cash at bank and in hand54/58€18k€21k▲
Deferred charges and accrued income490/1-€150
Equity and liabilities
Total equity and liabilities10/49€137k€236k▲
Equity10/15€52k€99k▲
Contributions10/11€19k€19k=
Reserves13€1k€1k=
Distributable reserves133€1k€1k=
Profit (loss) carried forward14€32k€80k▲
Amounts payable17/49€85k€137k▲
Amounts payable within one year42/48€85k€137k▲
Trade debts44€14k€42k▲
Suppliers440/4€14k€42k▲
Taxes, remuneration and social security45€21k€64k▲
Taxes450/3€21k€64k▲
Other amounts payable47/48€50k€31k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€578€851▲
Other operating charges640/8€1k€745▼
Gross operating margin9900€41k€67k▲
Operating profit (loss)9901€39k€65k▲
Financial income75/76B€0€16▲
Recurring financial income75€0€16▲
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€35k€61k▲
Income taxes67/77-€13k
Profit (loss) for the period9904€35k€48k▲
Profit (loss) for the period to be appropriated9905€35k€48k▲
Appropriation of the result
Profit (loss) to be appropriated9906€32k€80k▲
Profit (loss) brought forward from the previous period14P€-3k€32k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €152 | - | €545 | €578 | €851 | ▲ 47.2% |
| Other operating charges640/8 | €2k | €3k | €3k | €1k | €745 | ▼ 35.8% |
| Gross operating margin9900 | €9k | €-12k | €-956 | €41k | €67k | ▲ 64.1% |
| Operating profit (loss)9901 | €6k | €-14k | €-4k | €39k | €65k | ▲ 67.3% |
| Financial income75/76B | - | €10 | €1k | €0 | €16 | ▲ 157,300% |
| Recurring financial income75 | - | €10 | €1k | €0 | €16 | ▲ 157,300% |
| Financial charges65/66B | €5k | €112 | €284 | €4k | €4k | ▲ 11.2% |
| Recurring financial charges65 | €5k | €112 | €284 | €4k | €4k | ▲ 11.2% |
| Profit (loss) for the period before taxes9903 | €1k | €-15k | €-4k | €35k | €61k | ▲ 73.4% |
| Income taxes67/77 | - | - | - | - | €13k | - |
| Profit (loss) for the period9904 | €1k | €-15k | €-4k | €35k | €48k | ▲ 35.8% |
| Profit (loss) for the period to be appropriated9905 | €1k | €-15k | €-4k | €35k | €48k | ▲ 35.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €109k | €86k | €83k | €137k | €236k | ▲ 72.0% |
| Fixed assets21/28 | €665 | €665 | €120 | €2k | €2k | ▲ 3.4% |
| Tangible fixed assets22/27 | €665 | €665 | €120 | €2k | €2k | ▲ 3.8% |
| Land and buildings22 | - | - | - | - | €766 | - |
| Plant, machinery and equipment23 | - | - | - | €339 | €180 | ▼ 46.7% |
| Furniture and vehicles24 | €665 | €665 | €120 | €1k | €769 | ▼ 41.5% |
| Financial fixed assets28 | - | - | - | €210 | €210 | = |
| Current assets29/58 | €108k | €85k | €82k | €135k | €234k | ▲ 73.0% |
| Stocks and contracts in progress3 | €84k | €76k | €74k | €84k | €200k | ▲ 137% |
| Stocks30/36 | €84k | €76k | €74k | €84k | €200k | ▲ 137% |
| Amounts receivable within one year40/41 | €1k | €1k | - | - | - | - |
| Other amounts receivable41 | €1k | €1k | - | - | - | - |
| Current investments50/53 | €2k | €2k | €2k | €33k | €14k | ▼ 58.7% |
| Cash at bank and in hand54/58 | €21k | €6k | €7k | €18k | €21k | ▲ 13.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | €150 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €109k | €86k | €83k | €137k | €236k | ▲ 72.0% |
| Equity10/15 | €35k | €20k | €17k | €52k | €99k | ▲ 91.9% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €1k | €1k | €1k | €1k | €1k | = |
| Non-distributable reserves130/1 | €1k | €1k | €1k | - | - | - |
| Reserves not available under the articles1311 | €1k | €1k | €1k | - | - | - |
| Distributable reserves133 | - | - | - | €1k | €1k | = |
| Profit (loss) carried forward14 | €15k | €397 | €-3k | €32k | €80k | ▲ 149% |
| Amounts payable17/49 | €74k | €66k | €66k | €85k | €137k | ▲ 59.9% |
| Amounts payable within one year42/48 | €74k | €66k | €66k | €85k | €137k | ▲ 59.9% |
| Trade debts44 | €5k | €377 | - | €14k | €42k | ▲ 204% |
| Suppliers440/4 | €5k | €377 | - | €14k | €42k | ▲ 204% |
| Taxes, remuneration and social security45 | €30k | €21k | €23k | €21k | €64k | ▲ 201% |
| Taxes450/3 | €30k | €21k | €23k | €21k | €64k | ▲ 201% |
| Other amounts payable47/48 | €39k | €44k | €42k | €50k | €31k | ▼ 39.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1k | €-15k | €-4k | €35k | €48k | ▲ 35.8% |
| + Depreciation and write-downs630 | €152 | - | €545 | €578 | €851 | ▲ 47.2% |
| Operating cash flow (approximation) | €2k | €-15k | €-3k | €36k | €48k | ▲ 36.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €-2k | €-914 | ▲ 60.6% |
| Change in cash | - | €-15k | €861 | €11k | €2k | ▼ 78.0% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
11-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 223 days late
11-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 588 days late
2025
31-12
Financial
Highest result since 2018net €48k ▲35.8%
Operating result €65k, net result €48k, both a record.
2024
31-12
Financial
Back to profitnet €35k
Net result €35k after 2 loss-making years.
2023
20-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 112 days late
2022
31-12
Financial
Weakest financial yearnet €-15k
Net result drops to €-15k, the lowest in the series; recovery starts the following year.
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 143 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 58 days late
12-04
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 255 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 60 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
7 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, Antwerpen · 1 establishment unit since 2005
Ground area
24 m²
Building footprint
45 m²
Volume, LiDAR
469 m³
Parcel 11808H1172/00H002, Flanders · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
RAYAR
since 20052.147.565.251
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1172/00H002 | Flanders | 24 m² | 1 · 45 m² | 14.2 m · 4 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.
Similar companies · same sector, comparable size
Juwelencenter
BE 0416.979.343
Brussel · Eq €99,330
ORLINA
BE 0450.604.194
Aartselaar · Eq €98,999
TOPAZE
BE 0418.051.984
Antwerpen · Eq €100,159
ART GALLERY LA RESERVE
BE 0469.655.093
Knokke-Heist · Eq €100,171
SSB CONSEILS
BE 0449.696.255
Elsene · Eq €98,491
Of 2,016 companies in sector 47770 we hold annual accounts for 897. 701 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
Founded15-06-2005
Fiscal year end31-12
Activities, NACEBEL 2025
47770Retail sale of watches and jewellery
Scores and ratios are computed by Checked and are not a credit decision.