Summary
Rhubikon is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €439,121 and a net result of €84,428. Equity is growing by ~14.5% per year across the filed fiscal years. Its solvency ranks better than 44% of 8102 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
64 d early
2023
86 d early
2022
46 d early
2021
4 d early
2020
5 d early
2019
59 d early
← 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 34 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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 15 June (4 of the last 5 filed years within 42 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€439,121▼ 34.1%
2024 · €666,135
Net result
€84,428▼ 5.1%
2024 · €88,982
Total assets
€1.0m▲ 7.5%
2024 · €933,459
Solvency
43.8%▼ 27.6pp
2024 · 71.4%
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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 64, Financial service activities, except insurance and pension funding, 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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€51,195▼ 6.0%€84,232▲ 64.5%€65,550▼ 22.2%€126,434▲ 92.9%€140,113▲ 10.8%
Net result€30,337within the sector's middle half▼ 9.3%€62,336within the sector's middle half▲ 105%€45,238within the sector's middle half▼ 27.4%€88,982above the sector's middle half▲ 96.7%€84,428above the sector's middle half▼ 5.1%
Equity€408,645above the sector's middle half▲ 7.6%€535,181above the sector's middle half▲ 31.0%€578,819above the sector's middle half▲ 8.2%€666,135above the sector's middle half▲ 15.1%€439,121above the sector's middle half▼ 34.1%
Total assets€711,854within the sector's middle half▲ 5.3%€813,767within the sector's middle half▲ 14.3%€851,659within the sector's middle half▲ 4.7%€933,459above the sector's middle half▲ 9.6%€1.0mabove the sector's middle half▲ 7.5%
Debt€303,209▲ 2.4%€278,586▼ 8.1%€272,840▼ 2.1%€267,324▼ 2.0%€564,081▲ 111%
Working capital€373,183above the sector's middle half▲ 4.3%€508,112above the sector's middle half▲ 36.2%€554,134above the sector's middle half▲ 9.1%€623,996above the sector's middle half▲ 12.6%€356,190above the sector's middle half▼ 42.9%
Solvency57.4%within the sector's middle half▲ 1.2pp65.8%within the sector's middle half▲ 8.4pp68.0%within the sector's middle half▲ 2.2pp71.4%within the sector's middle half▲ 3.4pp43.8%within the sector's middle half▼ 27.6pp
Current ratio7.41above the sector's middle half▲ 0.928.85above the sector's middle half▲ 1.447.09above the sector's middle half▼ 1.768.63above the sector's middle half▲ 1.541.90within the sector's middle half▼ 6.73
Return on assets (ROA)4.3%within the sector's middle half▼ 0.7pp7.7%within the sector's middle half▲ 3.4pp5.3%within the sector's middle half▼ 2.3pp9.5%within the sector's middle half▲ 4.2pp8.4%within the sector's middle half▼ 1.1pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€250,731 ▲ 10.1%
Current assets
€752,472 ▲ 6.6%
Equity and liabilities €1.0m
Equity
€439,121 ▼ 34.1%
Debt
€564,081 ▲ 111%
Debt's share of the balance-sheet total rises from 28.6% to 56.2%. Equity is lower and debt is higher.
Key figures and ratios
ROE
19.2%▲
2024 · 13.4%
Debt ≤ 1 year
€396,282▲
2024 · €81,790
Debt > 1 year
€147,735▼
2024 · €184,955
Income taxes
€36,056▼
2024 · €38,172
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €7,333 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,660 | €41,889 | €43,223 | €44,400 | €31,418 | ▼ 29.2% |
| Other operating charges640/8 | €4,621 | €4,160 | €4,708 | €4,243 | €4,689 | ▲ 10.5% |
| Non-recurring operating charges66A | - | - | €235 | €9,930 | €29,147 | ▲ 194% |
| Gross operating margin9900 | €94,476 | €130,281 | €113,716 | €185,007 | €205,367 | ▲ 11.0% |
| Operating profit (loss)9901 | €51,195 | €84,232 | €65,550 | €126,434 | €140,113 | ▲ 10.8% |
| Financial income75/76B | €3,081 | €14,307 | €9,411 | €10,496 | €8,618 | ▼ 17.9% |
| Recurring financial income75 | €3,081 | €14,307 | €9,411 | €10,496 | €8,618 | ▼ 17.9% |
| Financial charges65/66B | €10,510 | €9,321 | €8,428 | €9,776 | €28,246 | ▲ 189% |
| Recurring financial charges65 | €10,510 | €9,321 | €8,428 | €9,776 | €28,246 | ▲ 189% |
| Profit (loss) for the period before taxes9903 | €43,766 | €89,218 | €66,533 | €127,154 | €120,484 | ▼ 5.2% |
| Income taxes67/77 | €13,429 | €26,881 | €21,294 | €38,172 | €36,056 | ▼ 5.5% |
| Profit (loss) for the period9904 | €30,337 | €62,336 | €45,238 | €88,982 | €84,428 | ▼ 5.1% |
| Profit (loss) for the period to be appropriated9905 | €30,337 | €62,336 | €45,238 | €88,982 | €84,428 | ▼ 5.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €711,854 | €813,767 | €851,659 | €933,459 | €1.0m | ▲ 7.5% |
| Fixed assets21/28 | €280,459 | €240,920 | €206,552 | €227,673 | €250,731 | ▲ 10.1% |
| Tangible fixed assets22/27 | €280,459 | €240,920 | €206,552 | €227,673 | €250,731 | ▲ 10.1% |
| Land and buildings22 | €177,311 | €159,228 | €141,144 | €125,096 | €109,047 | ▼ 12.8% |
| Plant, machinery and equipment23 | €8,354 | €6,683 | €5,012 | €3,342 | €1,671 | ▼ 50.0% |
| Furniture and vehicles24 | €94,793 | €72,659 | €58,046 | €96,886 | €137,662 | ▲ 42.1% |
| Other tangible fixed assets26 | - | €2,350 | €2,350 | €2,350 | €2,350 | = |
| Current assets29/58 | €431,395 | €572,847 | €645,107 | €705,786 | €752,472 | ▲ 6.6% |
| Amounts receivable after more than one year29 | €50,814 | €349,830 | €314,955 | €314,955 | €0 | ▼ 100% |
| Other amounts receivable291 | €50,814 | €349,830 | €314,955 | €314,955 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €48,186 | €32,667 | €43,948 | €26,219 | €26,526 | ▲ 1.2% |
| Trade receivables40 | €34,583 | €32,667 | €43,740 | €23,595 | €23,595 | = |
| Other amounts receivable41 | €13,603 | €0 | €208 | €2,624 | €2,931 | ▲ 11.7% |
| Current investments50/53 | - | - | €100,000 | €0 | €200,000 | - |
| Cash at bank and in hand54/58 | €331,414 | €189,662 | €185,269 | €354,093 | €524,288 | ▲ 48.1% |
| Deferred charges and accrued income490/1 | €981 | €688 | €936 | €10,519 | €1,657 | ▼ 84.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €711,854 | €813,767 | €851,659 | €933,459 | €1.0m | ▲ 7.5% |
| Equity10/15 | €408,645 | €535,181 | €578,819 | €666,135 | €439,121 | ▼ 34.1% |
| Contributions10/11 | €27,300 | €93,100 | €93,100 | €93,100 | €93,100 | = |
| Reserves13 | €381,345 | €442,081 | €485,719 | €573,035 | €346,021 | ▼ 39.6% |
| Non-distributable reserves130/1 | €9,310 | €9,310 | €9,310 | €9,310 | €9,310 | = |
| Reserves not available under the articles1311 | €9,310 | €9,310 | €9,310 | €9,310 | €9,310 | = |
| Distributable reserves133 | €372,035 | €432,771 | €476,409 | €563,725 | €336,711 | ▼ 40.3% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €303,209 | €278,586 | €272,840 | €267,324 | €564,081 | ▲ 111% |
| Amounts payable after more than one year17 | €244,997 | €213,850 | €181,867 | €184,955 | €147,735 | ▼ 20.1% |
| Financial debts170/4 | €244,997 | €213,850 | €181,867 | €184,955 | €147,735 | ▼ 20.1% |
| Amounts payable within one year42/48 | €58,212 | €64,736 | €90,973 | €81,790 | €396,282 | ▲ 385% |
| Current portion of amounts payable after more than one year42 | €33,616 | €31,146 | €31,984 | €43,397 | €37,221 | ▼ 14.2% |
| Financial debts43 | €2,125 | €2,043 | €2,082 | €1,185 | €1,992 | ▲ 68.0% |
| Credit institutions430/8 | €2,125 | €2,043 | €2,082 | €1,185 | €1,992 | ▲ 68.0% |
| Trade debts44 | €3,487 | €6,052 | €9,171 | €5,873 | €7,169 | ▲ 22.1% |
| Suppliers440/4 | €3,487 | €6,052 | €9,171 | €5,873 | €7,169 | ▲ 22.1% |
| Taxes, remuneration and social security45 | €9,892 | €18,714 | €39,125 | €22,066 | €49,861 | ▲ 126% |
| Taxes450/3 | €9,892 | €18,714 | €39,125 | €22,066 | €49,861 | ▲ 126% |
| Remuneration and social security454/9 | €0 | - | - | - | - | - |
| Other amounts payable47/48 | €9,092 | €6,780 | €8,612 | €9,269 | €300,039 | ▲ 3,137% |
| Accrued charges and deferred income492/3 | - | - | - | €579 | €20,064 | ▲ 3,368% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,337 | €62,336 | €45,238 | €88,982 | €84,428 | ▼ 5.1% |
| + Depreciation and write-downs630 | €38,660 | €41,889 | €43,223 | €44,400 | €31,418 | ▼ 29.2% |
| Operating cash flow (approximation) | €68,998 | €104,225 | €88,461 | €133,382 | €115,846 | ▼ 13.1% |
| Investment in fixed assets (approximation) | - | -€2,350 | -€8,855 | -€65,521 | -€54,476 | ▲ 16.9% |
| Change in cash | - | -€141,752 | -€4,394 | €168,824 | €170,196 | ▲ 0.8% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
29-05
State Gazette act
General meeting · Capital decrease
Capital · Share cancellation
2025
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
06-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €500,000Eq €535,181 ▲31%
5 profitable years in a row build equity to €535,181.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
27-10
State Gazette act
General meeting · Director reappointment
Permanent representative · Board meeting
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
02-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €93,509 ▲213%
Net result €93,509, the highest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
Show earlier events
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 13 days late
2017
22-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
06-05
State Gazette act
General meeting · Share issue
Statutes amendment · Director resignation
2014
08-05
State Gazette act
General meeting · Capital increase
Capital · Director appointment
Financial milestoneState Gazette actNBB 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, Gent · 1 establishment unit since 2011
Ground area
2,278 m²
Building footprint
681 m²
Volume, LiDAR
1,334 m³
2 parcels, Flanders · tallest building 11.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
RhubiKon
since 20112.198.787.783
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44062B0076/00A005 | Flanders | 1,187 m² | 1 · 440 m² | - |
| 44062B0075/00L005 | Flanders | 1,091 m² | 1 · 241 m² | 11.1 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
2 connected companiesOwnership & control
2 board mandatesBoard mandates of this companythis company sits on their board2
1 location
1 location
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Of 24,721 companies in sector 64210 we hold annual accounts for 19,799. 13,713 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 (pre-2019)
Founded06-04-2011
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
73300Public relations and communication consultancy
74201Photography, excluding press photography
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0835258486
Also
9925:BE0835258486
Registered
14-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.