RICARDO
ActiveRICARDO has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €252k and a net result of €199k. Equity is growing by ~36.2% per year across the filed fiscal years. Its solvency ranks better than 25% of 13935 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
50
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability41▲+6
Solvency28▲+2
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity short (current ratio 0.2 against 0.11 in 2024; short-term debt: 69.8% and cash: 0.2% of total assets), and 96.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Sector 68
lower
← 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
3.3%
Return on assets
2.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 13935 sector peers (2025).
NBB · sector comparisonPosition among 13935 sector peers
Solvency
better than 25%
← weakest
strongest →
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
28 d late
2023
2 d early
2022
3 d early
2021
38 d late
2020
89 d late
2019
90 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€252k▲ 376%
2024 · €53k
2018: €-209k
2019: €-370k
2020: €-356k
2021: €-262k
2022: €-206k
2023: €87k
2024: €53k
2018 → 2025
Total assets
€7.75M▲ 7.3%
2024 · €7.22M
2018: €7.31M
2019: €8.14M
2020: €8.11M
2021: €8.07M
2022: €7.98M
2023: €8.02M
2024: €7.22M
2018 → 2025
Net result
€199k
2024 · €-34k
2018: €-115k
2019: €-161k
2020: €15k
2021: €93k
2022: €56k
2023: €43k
2024: €-34k
2018 → 2025
Working capital
€-4.35M▲ 0.5%
2024 · €-4.37M
2018: €-1.20M
2019: €1.35M
2020: €-3.78M
2021: €-3.95M
2022: €-3.91M
2023: €-3.55M
2024: €-4.37M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€-262k-€-206k▲ 21.4%€87k€53k▼ 39.4%€252k▲ 376%
Operating result€232k-€186k▼ 19.6%€223k▲ 19.5%€148k▼ 33.4%€349k▲ 136%
Net result€93k-€56k▼ 40.0%€43k▼ 22.7%€-34k€199k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 136% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.75M
Fixed assets
€6.69M=
Current assets
€1.06M▲ 97.2%
Equity and liabilities €7.75M
Equity
€252k▲ 376%
Debt
€7.50M▲ 4.5%
The debt ratio falls from 99.3% to 96.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€349k▼
2024 · €360k
Cash flow
€199k▲
2024 · €177k
Solvency
3.3%▲
2024 · 0.7%
Current ratio
0.20▲
2024 · 0.11
Quick ratio
0.03▲
2024 · 0.00
Debt / equity
29.72
ROE
79.0%▲
2024 · -65.1%
ROA
2.6%▲
2024 · -0.5%
Interest coverage
2.26▲
2024 · 1.97
Debt
€7.50M▲
2024 · €7.17M
Debt ≤ 1 year
€5.41M▲
2024 · €4.91M
Debt > 1 year
€2.08M▼
2024 · €2.23M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€7.22M€7.75M▲
Fixed assets21/28€6.69M€6.69M=
Tangible fixed assets22/27€6.69M€6.69M=
Land and buildings22€404k€404k=
Plant, machinery and equipment23€0-
Other tangible fixed assets26€6.28M€6.29M=
Current assets29/58€536k€1.06M▲
Stocks and contracts in progress3€517k€888k▲
Stocks30/36€517k€888k▲
Amounts receivable within one year40/41€3k€153k▲
Trade receivables40-€153k
Other amounts receivable41€3k€0▼
Cash at bank and in hand54/58€16k€15k▼
Deferred charges and accrued income490/1€0€1k▲
Equity and liabilities
Total equity and liabilities10/49€7.22M€7.75M▲
Equity10/15€53k€252k▲
Contributions10/11€256k€256k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€-205k€-6k▲
Amounts payable17/49€7.17M€7.50M▲
Amounts payable after more than one year17€2.23M€2.08M▼
Financial debts170/4€2.23M€2.08M▼
Other amounts payable178/9€0-
Amounts payable within one year42/48€4.91M€5.41M▲
Current portion of amounts payable after more than one year42€149k€153k▲
Financial debts43€1.50M€1.40M▼
Credit institutions430/8€1.50M€1.40M▼
Trade debts44€17k€91k▲
Suppliers440/4€17k€91k▲
Taxes, remuneration and social security45€7k€194▼
Taxes450/3€7k€194▼
Other amounts payable47/48€3.23M€3.77M▲
Accrued charges and deferred income492/3€26k€4k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€211k€0▼
Other operating charges640/8€75k€27k▼
Gross operating margin9900€434k€376k▼
Operating profit (loss)9901€148k€349k▲
Financial income75/76B-€4k
Recurring financial income75-€4k
Financial charges65/66B€183k€154k▼
Recurring financial charges65€183k€154k▼
Profit (loss) for the period before taxes9903€-34k€199k▲
Profit (loss) for the period9904€-34k€199k▲
Profit (loss) for the period to be appropriated9905€-34k€199k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-205k€-6k▲
Profit (loss) brought forward from the previous period14P€-171k€-205k▼
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €199k
Net result €199k after one loss-making year.
31-12
Financial
Equity above €200kEq €252k ▲376%
Equity rises from €53k to €252k.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
07-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 38 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 89 days late
2020
31-12
Financial
Back to profitnet €15k
Net result €15k after 2 loss-making years.
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 90 days late
2019
31-12
Financial
Weakest financial yearnet €-161k
Net result drops to €-161k, the lowest in the series; recovery starts the following year.
10-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 71 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 59 days late
2017
29-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 60 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Torhout · 1 establishment unit since 1990
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Oostendestraat 3418820 TorhoutGround area
1.1 ha
Building footprint
487 m²
Volume, LiDAR
2,858 m³
Parcel 31033A0388/00F000, Flanders · tallest building 10.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TEA ROOM RICARDO
since 19902.048.368.103
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31033A0388/00F000 | Flanders | 1.1 ha | 1 · 487 m² | 10.8 m · 2 fl. |
Linked by address, not proof of ownership
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.
Similar companies · same sector, comparable size
PROMOLYS
BE 0431.718.195
Oostrozebeke · Eq €254k
SILVERLINE
BE 0504.973.684
Schoten · Eq €255k
RHODOS GROUP
BE 0864.790.632
Gent · Eq €249k
WHOON
BE 0723.931.289
Kortrijk · Eq €248k
MAO IMMO
BE 0822.167.941
Evere · Eq €256k
Of 1,292 companies in sector 68122 we hold annual accounts for 899. 592 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-05-1990
Fiscal year end31-12
Activities, NACEBEL
68122Development of non-residential building projects
68121Development of residential building projects
68110Buying and selling of own real estate
68310Real estate agency activities
68311Real estate activities
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 36 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.