RAYEN ERWIN
ActiveSummary
RAYEN ERWIN has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €211k and a net result of €-88k. Equity remains stable across the filed fiscal years (±1.9% per year). Its solvency ranks better than 89% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-45
Solvency100=
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 24.7 against 12.51 in 2024; short-term debt: 3.2% and cash: 9.5% of total assets), and 15.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three 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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
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 11-07-2026, 20 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
20 d early
2024
30 d late
2023
222 d late
2022
8 d early
2021
207 d late
2020
200 d late
2019
565 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
€211k▼ 29.3%
2024 · €299k
2018: €279k
2019: €280k▲ +0.6% vs 2018
2020: €286k▲ +2.1% vs 2019
2021: €289k▲ +0.9% vs 2020
2022: €270k▼ -6.5% vs 2021
2023: €226k▼ -16.5% vs 2022
2024: €299k▲ +32.5% vs 2023highest in 8 years
2025: €211k▼ -29.3% vs 2024lowest in 8 years
2018 → 2025
Total assets
€251k▼ 28.8%
2024 · €352k
2018: €428k
2019: €441k▲ +3.2% vs 2018
2020: €474k▲ +7.3% vs 2019
2021: €572k▲ +20.7% vs 2020highest in 8 years
2022: €536k▼ -6.3% vs 2021
2023: €325k▼ -39.3% vs 2022
2024: €352k▲ +8.2% vs 2023
2025: €251k▼ -28.8% vs 2024lowest in 8 years
2018 → 2025
Net result
€-88k
2024 · €73k
2018: €-11k
2019: €2k▲ +116% vs 2018
2020: €6k▲ +227% vs 2019
2021: €3k▼ -54.7% vs 2020
2022: €-19k▼ -813% vs 2021
2023: €-45k▼ -138% vs 2022
2024: €73k▲ +264% vs 2023highest in 8 years
2025: €-88k▼ -220% vs 2024lowest in 8 years
2018 → 2025
Working capital
€190k▼ 23.5%
2024 · €249k
2018: €237k
2019: €259k▲ +9.1% vs 2018
2020: €257k▼ -0.7% vs 2019
2021: €289k▲ +12.4% vs 2020
2022: €290k▲ +0.6% vs 2021highest in 8 years
2023: €214k▼ -26.3% vs 2022
2024: €249k▲ +16.2% vs 2023
2025: €190k▼ -23.5% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€289k-€270k▼ 6.5%€226k▼ 16.5%€299k▲ 32.5%€211k▼ 29.3%
2021: €289k
2022: €270k▼ -6.5% vs 2021
2023: €226k▼ -16.5% vs 2022
2024: €299k▲ +32.5% vs 2023highest in 5 years
2025: €211k▼ -29.3% vs 2024lowest in 5 years
Operating result€5k-€-18k€-44k▼ 145%€79k€38k▼ 51.9%
2021: €5k
2022: €-18k▼ -480% vs 2021
2023: €-44k▼ -145% vs 2022lowest in 5 years
2024: €79k▲ +279% vs 2023highest in 5 years
2025: €38k▼ -51.9% vs 2024
Net result€3k-€-19k€-45k▼ 138%€73k€-88k
2021: €3k
2022: €-19k▼ -813% vs 2021
2023: €-45k▼ -138% vs 2022
2024: €73k▲ +264% vs 2023highest in 5 years
2025: €-88k▼ -220% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 52% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €250k
Fixed assets
€52k ▼ 35.7%
Current assets
€198k ▼ 26.7%
Equity and liabilities €251k
Equity
€211k ▼ 29.3%
Provisions
€30k =
Debt
€9k ▼ 59.4%
Debt's share of the balance-sheet total falls from 6.5% to 3.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€64k▼
2024 · €106k
Cash flow
€-62k▼
2024 · €101k
Current ratio
24.70▲
2024 · 12.51
Debt to equity
0.04▼
2024 · 0.08
ROE
-41.5%▼
2024 · 24.5%
ROA
-35.0%▼
2024 · 20.8%
Interest coverage
33.61▼
2024 · 97.29
Debt ≤ 1 year
€8k▼
2024 · €22k
Debt > 1 year
€1k=
2024 · €1k
Staff costs
€1k▼
2024 · €21k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€352k€251k▼
Formation expenses20€20€20=
Fixed assets21/28€81k€52k▼
Tangible fixed assets22/27€81k€52k▼
Land and buildings22€0€0=
Plant, machinery and equipment23€12k€0▼
Furniture and vehicles24€69k€52k▼
Financial fixed assets28€270-
Current assets29/58€270k€198k▼
Amounts receivable within one year40/41€255k€173k▼
Trade receivables40€200k€89k▼
Other amounts receivable41€55k€85k▲
Cash at bank and in hand54/58€13k€24k▲
Deferred charges and accrued income490/1€2k€788▼
Equity and liabilities
Total equity and liabilities10/49€352k€251k▼
Equity10/15€299k€211k▼
Contributions10/11€6k€6k=
Reserves13€293k€293k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€291k€291k=
Profit (loss) carried forward14-€-88k
Provisions and deferred taxes16€30k€30k=
Provisions for liabilities and charges160/5€30k€30k=
Pensions and similar obligations160€30k€30k=
Amounts payable17/49€23k€9k▼
Amounts payable after more than one year17€1k€1k=
Financial debts170/4€1k€1k=
Amounts payable within one year42/48€22k€8k▼
Current portion of amounts payable after more than one year42€16k-
Taxes, remuneration and social security45€5k€8k▲
Taxes450/3€5k€8k▲
Income statement
Code20242025
Remuneration, social security and pensions62€21k€1k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€27k€26k▼
Other operating charges640/8€10k€8k▼
Gross operating margin9900€137k€73k▼
Operating profit (loss)9901€79k€38k▼
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€1k€125k▲
Recurring financial charges65€1k€2k▲
Non-recurring financial charges66B-€123k
Profit (loss) for the period before taxes9903€77k€-88k▼
Income taxes67/77€4k-
Profit (loss) for the period9904€73k€-88k▼
Profit (loss) for the period to be appropriated9905€73k€-88k▼
Appropriation of the result
Profit (loss) to be appropriated9906€10k€-88k▼
Profit (loss) brought forward from the previous period14P€-63k-
Transfer to equity691/2€10k-
To other reserves6921€10k-
The notes to these accounts (11 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €59k | €62k | €69k | €21k | €1k | ▼ 94.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23k | €23k | €17k | €27k | €26k | ▼ 5.7% |
| Other operating charges640/8 | €5k | €3k | €12k | €10k | €8k | ▼ 21.8% |
| Gross operating margin9900 | €91k | €70k | €54k | €137k | €73k | ▼ 47.0% |
| Operating profit (loss)9901 | €5k | €-18k | €-44k | €79k | €38k | ▼ 51.9% |
| Financial income75/76B | €0 | €32 | - | €0 | €0 | ▼ 42.9% |
| Recurring financial income75 | €0 | €32 | - | €0 | €0 | ▼ 42.9% |
| Financial charges65/66B | €1k | €793 | €638 | €1k | €125k | ▲ 11,414% |
| Recurring financial charges65 | €1k | €793 | €638 | €1k | €2k | ▲ 73.8% |
| Non-recurring financial charges66B | - | - | - | - | €123k | - |
| Profit (loss) for the period before taxes9903 | €3k | €-19k | €-45k | €77k | €-88k | ▼ 213% |
| Income taxes67/77 | €849 | - | €0 | €4k | - | - |
| Profit (loss) for the period9904 | €3k | €-19k | €-45k | €73k | €-88k | ▼ 220% |
| Profit (loss) for the period to be appropriated9905 | €3k | €-19k | €-45k | €73k | €-88k | ▼ 220% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €572k | €536k | €325k | €352k | €251k | ▼ 28.8% |
| Formation expenses20 | €20 | €20 | €20 | €20 | €20 | = |
| Fixed assets21/28 | €90k | €70k | €50k | €81k | €52k | ▼ 35.7% |
| Tangible fixed assets22/27 | €90k | €69k | €50k | €81k | €52k | ▼ 35.4% |
| Land and buildings22 | - | - | €0 | €0 | €0 | - |
| Plant, machinery and equipment23 | €48k | €39k | €24k | €12k | €0 | ▼ 100% |
| Furniture and vehicles24 | €41k | €31k | €26k | €69k | €52k | ▼ 23.7% |
| Financial fixed assets28 | €270 | €270 | €270 | €270 | - | - |
| Current assets29/58 | €482k | €466k | €274k | €270k | €198k | ▼ 26.7% |
| Stocks and contracts in progress3 | €12k | €12k | - | - | - | - |
| Contracts in progress37 | €12k | €12k | - | - | - | - |
| Amounts receivable within one year40/41 | €423k | €431k | €250k | €255k | €173k | ▼ 32.0% |
| Trade receivables40 | €390k | €367k | €244k | €200k | €89k | ▼ 55.7% |
| Other amounts receivable41 | €33k | €64k | €6k | €55k | €85k | ▲ 54.5% |
| Cash at bank and in hand54/58 | €47k | €18k | €21k | €13k | €24k | ▲ 81.5% |
| Deferred charges and accrued income490/1 | - | €5k | €4k | €2k | €788 | ▼ 60.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €572k | €536k | €325k | €352k | €251k | ▼ 28.8% |
| Equity10/15 | €289k | €270k | €226k | €299k | €211k | ▼ 29.3% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Outside capital11 | €6k | €6k | - | - | - | - |
| Other1109/19 | €6k | €6k | - | - | - | - |
| Reserves13 | €283k | €283k | €283k | €293k | €293k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €281k | €281k | €281k | €291k | €291k | = |
| Profit (loss) carried forward14 | - | €-19k | €-63k | - | €-88k | - |
| Provisions and deferred taxes16 | €30k | €30k | €30k | €30k | €30k | = |
| Provisions for liabilities and charges160/5 | €30k | €30k | €30k | €30k | €30k | = |
| Pensions and similar obligations160 | €30k | €30k | €30k | €30k | €30k | = |
| Amounts payable17/49 | €253k | €236k | €69k | €23k | €9k | ▼ 59.4% |
| Amounts payable after more than one year17 | €26k | €26k | €9k | €1k | €1k | = |
| Financial debts170/4 | €26k | €26k | €9k | €1k | €1k | = |
| Amounts payable within one year42/48 | €193k | €176k | €60k | €22k | €8k | ▼ 62.9% |
| Current portion of amounts payable after more than one year42 | €19k | - | €9k | €16k | - | - |
| Trade debts44 | €161k | €158k | - | - | - | - |
| Suppliers440/4 | €161k | €158k | - | - | - | - |
| Taxes, remuneration and social security45 | €14k | €18k | €38k | €5k | €8k | ▲ 50.9% |
| Taxes450/3 | €4k | €3k | €6k | €5k | €8k | ▲ 50.9% |
| Remuneration and social security454/9 | €9k | €15k | €32k | - | - | - |
| Other amounts payable47/48 | - | - | €14k | - | - | - |
| Accrued charges and deferred income492/3 | €34k | €34k | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3k | €-19k | €-45k | €73k | €-88k | ▼ 220% |
| + Depreciation and write-downs630 | €23k | €23k | €17k | €27k | €26k | ▼ 5.7% |
| Operating cash flow (approximation) | €25k | €4k | €-28k | €101k | €-62k | ▼ 161% |
| Investment in fixed assets (approximation) | - | €-3k | €3k | €-58k | €3k | ▲ 106% |
| Change in cash | - | €-29k | €4k | €-8k | €11k | ▲ 235% |
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
11-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-88k
Net result drops to €-88k, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
10-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 222 days late
2024
31-12
Financial
Back to profitnet €73k
Net result €73k after 2 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 12.51
Current ratio from 4.54 to 12.51; short-term debt falls from €60k to €22k.
2023
23-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
23-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 207 days late
2022
16-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 200 days late
16-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 565 days late
2020
15-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 289 days late
2019
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
22-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 53 days late
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, Lummen · 1 establishment unit since 2001
Ground area
215 m²
Building footprint
215 m²
Volume, LiDAR
932 m³
Parcel 71038C0146/02G000, Flanders · tallest building 6.2 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Paalstraat 7, 3560 Lummen
since 20012.093.174.183
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71038C0146/02G000 | Flanders | 215 m² | 1 · 215 m² | 6.2 m · 1 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 8,454 companies in sector 43120 we hold annual accounts for 3,231. 2,585 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
Founded25-04-2001
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
Scores and ratios are computed by Checked and are not a credit decision.