Checked.be
Active
BE 0879.485.340Private limited company
RAYGUN
Hooikaai 55 ·1000 Brussel, Belgium· 20 yrs active
Sector: News agency activities
(60310)
Conclusion
RAYGUN has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €179k and a net result of €59k. Equity is shrinking by ~31.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2028. The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 3 annual accounts.
Key figures
| Equity | €179k |
| Net result | €59k |
| Staff (FTE) | 4.6 |
| Active | 20 yrs |
Financial profile
67
/ 100
Strong profile, led by profitability.
All 5 axes are computed from data Checked has read.
Health
65
Profitability
100
Solvency
37
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2006, 20 years in business.
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.
Checked score
65
/ 100
Healthy
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.
Indicative credit limit
€12k
estimate, not credit advice
Score history
86
2023
75
2024
65
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.21 (≥ 1.0)
+5
Quick ratio
Quick ratio 1.21 (≥ 1.0)
+5
Leverage
Debt/equity 3.39 (> 3.0)
-10
Profitability
ROE 33% (≥ 10%)
+10
Interest coverage
Interest coverage 33.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 30-10-2025 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
At this pace, equity would indicatively turn negative around fiscal year 2028, 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).
€131k
-42.9%
23-25
€59k
-47.8%
23-25
€99k
-43.8%
23-25
€784k
+11.3%
23-25
€179k
-18.5%
23-25
€125k
-11.0%
23-25
5
+21.1%
23-25
€281k
+18.9%
23-25
€28k
-42.5%
23-25
€100k
-52.4%
23-25
€606k
+24.7%
23-25
€606k
+24.7%
23-25
€0
-
23-25
1.21
-6.4%
23-25
1.21
-6.4%
23-25
22.8%
-26.8%
23-25
3.39
+53.1%
23-25
33.3%
-35.9%
23-25
7.6%
-53.1%
23-25
33.17
-34.8%
23-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Deposit | abbreviated schema | abbreviated schema | abbreviated schema |
| Revenue | - | - | - |
| EBITDA | €131k | €229k | €282k |
| Net profit | €59k | €114k | €163k |
| Cash flow | €99k | €176k | €221k |
| Staff costs | €281k | €236k | €228k |
| Income taxes | €28k | €48k | €61k |
| Dividends | €100k | €210k | €0 |
| Total assets | €784k | €705k | €676k |
| Equity | €179k | €219k | €315k |
| Debt | €606k | €486k | €361k |
| of which ≤ 1y | €606k | €486k | €361k |
| of which > 1y | - | - | €0 |
| Working capital | €125k | €141k | €185k |
| Employees (FTE) | 4.6 | 3.8 | 3.2 |
Ratios (computed)
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Current ratio | 1.21 | 1.29 | 1.51 |
| Quick ratio | 1.21 | 1.29 | 1.51 |
| Working capital ratio | 16.0% | 19.9% | 27.3% |
| Solvency | 22.8% | 31.1% | 46.6% |
| Debt / equity | 3.39 | 2.22 | 1.14 |
| Long-term debt ratio | - | - | 0.00 |
| Interest coverage | 33.17 | 50.88 | 69.28 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | 7.6% | 16.1% | 24.2% |
| ROE | 33.3% | 51.9% | 51.8% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Balance-sheet composition 2025
Full annual accounts (24 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €784k | €705k | €676k |
| Fixed assets | 21/28 | €53k | €79k | €131k |
| Tangible fixed assets | 22/27 | €52k | €77k | €130k |
| Financial fixed assets | 28 | €1k | €1k | €1k |
| Current assets | 29/58 | €731k | €626k | €545k |
| Amounts receivable within one year | 40/41 | €548k | €384k | €422k |
| Cash & bank | 54/58 | €181k | €241k | €119k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €784k | €705k | €676k |
| Equity | 10/15 | €179k | €219k | €315k |
| Contributions / capital | 10/11 | €20k | €20k | €20k |
| Reserves | 13 | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €157k | €197k | €293k |
| Amounts payable | 17/49 | €606k | €486k | €361k |
| Amounts payable after one year | 17 | - | - | €0 |
| Amounts payable within one year | 42/48 | €606k | €486k | €361k |
| Trade debts payable within one year | 44 | €364k | €188k | €181k |
| Income statement | ||||
| Gross operating margin | 9900 | €412k | €465k | €511k |
| Operating result | 9901 | €91k | €167k | €224k |
| Financial income | 75 | €72 | €115 | €4k |
| Financial charges | 65 | €4k | €4k | €4k |
| Result before taxes | 9903 | €87k | €162k | €224k |
| Income taxes | 67/77 | €28k | €48k | €61k |
| Net result for the period | 9904 | €59k | €114k | €163k |
| Result to be appropriated | 9905 | €59k | €114k | €163k |
Legal Structure
| NACE primary | News agency activities(60310) |
| Legal form | Private limited company(610) |
| Incorporation | 20-02-2006 |
| Status | Active |
| Postal code | 1000 |
Establishment units
Raygun
since 20062.152.408.323
Real-estate footprint
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N1391/00E000 | Brussels | 994 m² | 1 · 620 m² | 23.7 m · 7 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Weakest financial yearnet €59k ▼47.8%
Net result drops to €59k, the lowest in the series.
2024
04-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 4 days late
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
04-07
State Gazette act
Capital & shares
Wouter Vandenbosch
2022
18-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
12-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
21-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
24-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
21-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 21 days late
2016
21-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
Capital history · 1
04-07-2023
Capital change
All acts · 1
updated 3 years ago
2023
04-07-2023 Transaction in capital or shares
Notary:
Wouter Vandenbosch · Vilvoorde
Technical details
{
"events": [],
"notary": {
"name": "Wouter Vandenbosch",
"firm_city": null,
"firm_name": null,
"office_city": "Vilvoorde",
"is_associated": false
},
"act_meta": {
"language": "nl",
"pub_date": "2023-07-04",
"filing_date": "2023-06-26",
"act_kind_objet": "Onderwerp akte:"
},
"decision": {
"body": "buitengewone_algemene_vergadering",
"act_date": "2023-06-26",
"unanimous": null,
"under_authorized_capital": true,
"underlying_resolution_date": null
},
"bedrijfsrevisor": null,
"subject_company": {
"kbo": "0879.485.340",
"name_full": "RAYGUN",
"legal_form": "BESLOTEN VENNOOTSCHAP",
"is_foreign_registered": false
},
"publication_proxy": {
"kind": "none",
"org_kbo": null,
"org_name": null,
"person_name": null,
"org_rep_person_name": null,
"person_role_at_subject": null
},
"co_filed_documents": [
"co\u00F6rdineerde statuten"
],
"shareholders_after": [],
"share_classes_after": []
}Credit advice
Company registry (CBE)
Activities
Post-production of films, video and television programmes59120News agency activities60310Computing infrastructure, data processing, hosting and other information service activities6391092114
Names & trade names
| Legal nameNL | RAYGUN |
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