Rayss Construct
ActiveSummary
Rayss Construct has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €101,980 and a net result of -€64,366. Equity is growing by ~26.5% per year across the filed fiscal years. Its solvency ranks better than 29% of 28051 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-42
Solvency53▼-4
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.39 against 1.45 in 2024; short-term debt: 38.6% and cash: 17% of total assets), and 71.8% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
+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 →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
28.2%
Return on assets
-17.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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 · 9 filingsDeviation from the deadline
2025
24 d late
2024
16 d early
2023
27 d late
2022
88 d late
2021
2 d early
2020
46 d early
2019
48 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 18 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€101,980▼ 38.7%
2024 · €166,346
Total assets
€361,553▼ 30.3%
2024 · €518,543
Net result
-€64,366
2024 · €95,862
Working capital
€54,487▼ 39.5%
2024 · €90,134
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€5,681▲ 18.7%€47,681▲ 739%€175,910▲ 269%€23,635▼ 86.6%€38,239▲ 61.8%
Net result-€6,270€46,128€12,752▼ 72.4%€95,862▲ 652%-€64,366
Equity€23,368▼ 21.2%€69,496▲ 197%€82,248▲ 18.3%€166,346▲ 102%€101,980▼ 38.7%
Total assets€254,596▲ 323%€308,837▲ 21.3%€259,543▼ 16.0%€518,543▲ 99.8%€361,553▼ 30.3%
Debt€231,228▲ 655%€239,341▲ 3.5%€177,295▼ 25.9%€352,197▲ 98.7%€259,572▼ 26.3%
Working capital€21,199▼ 2.6%€69,782▲ 229%€19,825▼ 71.6%€90,134▲ 355%€54,487▼ 39.5%
Staff (FTE)2.4▲ 140%3.4▲ 41.7%2.8▼ 17.6%3▲ 7.1%4.3▲ 43.3%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 62% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €361,553
Fixed assets
€167,607 ▼ 25.9%
Current assets
€193,946 ▼ 33.6%
Equity and liabilities €361,553
Equity
€101,980 ▼ 38.7%
Debt
€259,572 ▼ 26.3%
Debt's share of the balance-sheet total rises from 67.9% to 71.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€90,657▲
2024 · €59,238
Cash flow
-€11,947▼
2024 · €131,465
Current ratio
1.39▼
2024 · 1.45
Debt to equity
2.55▲
2024 · 2.12
ROE
-63.1%▼
2024 · 57.6%
ROA
-17.8%▼
2024 · 18.5%
Interest coverage
9.16▲
2024 · 7.90
Debt ≤ 1 year
€139,458▼
2024 · €202,068
Debt > 1 year
€120,114▼
2024 · €150,129
Income taxes
€92,712▲
2024 · €29,735
Staff costs
€216,516▲
2024 · €122,088
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | €253,627 | - | - | - | - |
| Remuneration, social security and pensions62 | €66,451 | €104,934 | €117,201 | €122,088 | €216,516 | ▲ 77.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,938 | €29,353 | €25,778 | €35,603 | €52,418 | ▲ 47.2% |
| Other operating charges640/8 | €20,357 | €8,716 | €11,927 | €22,271 | €52,637 | ▲ 136% |
| Operating charges capitalised as restructuring costs649 | - | - | €0 | - | - | - |
| Non-recurring operating charges66A | - | - | - | €48,942 | €6,316 | ▼ 87.1% |
| Gross operating margin9900 | €108,427 | €190,683 | €330,816 | €252,539 | €366,126 | ▲ 45.0% |
| Operating profit (loss)9901 | €5,681 | €47,681 | €175,910 | €23,635 | €38,239 | ▲ 61.8% |
| Financial income75/76B | €0 | €0 | €2 | €109,459 | €1 | ▼ 100.0% |
| Recurring financial income75 | €0 | €0 | €2 | €4 | €1 | ▼ 83.2% |
| Non-recurring financial income76B | - | - | - | €109,456 | - | - |
| Financial charges65/66B | €879 | €1,553 | €2,367 | €7,497 | €9,893 | ▲ 32.0% |
| Recurring financial charges65 | €879 | €1,553 | €2,367 | €7,497 | €9,893 | ▲ 32.0% |
| Profit (loss) for the period before taxes9903 | €4,802 | €46,128 | €173,544 | €125,597 | €28,346 | ▼ 77.4% |
| Income taxes67/77 | €11,071 | - | €160,793 | €29,735 | €92,712 | ▲ 212% |
| Profit (loss) for the period9904 | -€6,270 | €46,128 | €12,752 | €95,862 | -€64,366 | ▼ 167% |
| Profit (loss) for the period to be appropriated9905 | -€6,270 | €46,128 | €12,752 | €95,862 | -€64,366 | ▼ 167% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €254,596 | €308,837 | €259,543 | €518,543 | €361,553 | ▼ 30.3% |
| Formation expenses20 | - | - | €0 | €0 | €0 | - |
| Fixed assets21/28 | €93,142 | €90,686 | €71,272 | €226,341 | €167,607 | ▼ 25.9% |
| Tangible fixed assets22/27 | €93,142 | €90,686 | €71,272 | €226,341 | €167,607 | ▼ 25.9% |
| Plant, machinery and equipment23 | - | €3,310 | €2,483 | €4,704 | €3,157 | ▼ 32.9% |
| Furniture and vehicles24 | €93,142 | €87,376 | €68,790 | €221,637 | €164,450 | ▼ 25.8% |
| Current assets29/58 | €161,454 | €218,151 | €188,271 | €292,202 | €193,946 | ▼ 33.6% |
| Amounts receivable within one year40/41 | €75,136 | €38,408 | €67,243 | €95,503 | €117,101 | ▲ 22.6% |
| Trade receivables40 | €54,614 | €16,533 | €52,389 | €82,892 | €70,310 | ▼ 15.2% |
| Other amounts receivable41 | €20,522 | €21,876 | €14,854 | €12,612 | €46,791 | ▲ 271% |
| Cash at bank and in hand54/58 | €85,052 | €178,476 | €121,028 | €180,390 | €61,552 | ▼ 65.9% |
| Deferred charges and accrued income490/1 | €1,267 | €1,267 | - | €16,309 | €15,293 | ▼ 6.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €254,596 | €308,837 | €259,543 | €518,543 | €361,553 | ▼ 30.3% |
| Equity10/15 | €23,368 | €69,496 | €82,248 | €166,346 | €101,980 | ▼ 38.7% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Outside capital11 | - | €12,400 | - | - | - | - |
| Other1109/19 | - | €12,400 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €14,587 | €14,587 | €14,587 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | €12,727 | €12,727 | €12,727 | = |
| Profit (loss) carried forward14 | €9,108 | €55,236 | €55,261 | €139,359 | €74,993 | ▼ 46.2% |
| Amounts payable17/49 | €231,228 | €239,341 | €177,295 | €352,197 | €259,572 | ▼ 26.3% |
| Amounts payable after more than one year17 | €54,500 | €54,500 | €8,849 | €150,129 | €120,114 | ▼ 20.0% |
| Financial debts170/4 | €54,500 | €54,500 | €8,849 | €150,129 | €120,114 | ▼ 20.0% |
| Amounts payable within one year42/48 | €140,256 | €148,368 | €168,446 | €202,068 | €139,458 | ▼ 31.0% |
| Current portion of amounts payable after more than one year42 | €21,800 | €1,190 | €22,484 | €43,940 | €50,903 | ▲ 15.8% |
| Trade debts44 | €66,485 | €104,445 | €79,106 | €111,940 | €66,486 | ▼ 40.6% |
| Suppliers440/4 | €66,485 | €104,445 | €79,106 | €111,940 | €66,486 | ▼ 40.6% |
| Taxes, remuneration and social security45 | €25,855 | €20,945 | €58,856 | €36,590 | €22,070 | ▼ 39.7% |
| Taxes450/3 | €16,476 | €13,423 | €49,628 | €34,716 | €22,070 | ▼ 36.4% |
| Remuneration and social security454/9 | €9,379 | €7,522 | €9,229 | €1,874 | - | - |
| Other amounts payable47/48 | €26,116 | €21,789 | €8,000 | €9,598 | - | - |
| Accrued charges and deferred income492/3 | €36,472 | €36,472 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,270 | €46,128 | €12,752 | €95,862 | -€64,366 | ▼ 167% |
| + Depreciation and write-downs630 | €15,938 | €29,353 | €25,778 | €35,603 | €52,418 | ▲ 47.2% |
| Operating cash flow (approximation) | €9,668 | €75,481 | €38,530 | €131,465 | -€11,947 | ▼ 109% |
| Investment in fixed assets (approximation) | - | -€26,897 | -€6,364 | -€190,672 | €6,316 | ▲ 103% |
| Change in cash | - | €93,424 | -€57,448 | €59,363 | -€118,838 | ▼ 300% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
31-12
Financial
Weakest financial yearnet -€64,366
Net result drops to -€64,366, the lowest in the series.
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €95,862 ▲652%
Net result €95,862, the highest in the series.
31-12
Financial
Equity above €150,000Eq €166,346 ▲102%
3 profitable years in a row build equity to €166,346.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 27 days late
2023
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 88 days late
2022
31-12
Financial
Back to profitnet €46,128
Net result €46,128 after one loss-making year.
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
17-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 48 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
19-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
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.
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Directors · office · real estate
Directors
3 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, Lokeren · 1 establishment unit since 2017
Ground area
205 m²
Building footprint
84 m²
Volume, LiDAR
608 m³
Parcel 46382B0356/00L008, Flanders · tallest building 12.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rayss Construct
since 20172.261.178.678
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46382B0356/00L008 | Flanders | 205 m² | 1 · 84 m² | 12.0 m · 3 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.
Recognitions · licences · registrations
Recognised contractor
3 categoriesRayss Construct BV42050
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Of 8,462 companies in sector 43120 we hold annual accounts for 3,231. 2,655 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
Founded07-02-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43211General electrical installation work
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.