RING STATION RIVER
ActiveRING STATION RIVER has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €874k and a net result of €-352k. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 26% of 9716 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2024
42
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability18▲+1
Solvency33▼-4
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days only on tighter terms
Liquidity short (current ratio 0.02 against 0.03 in 2023; short-term debt: 72.2% and cash: 0.6% of total assets), and 91.5% 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
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 2024Solvency, return and age of the figures
Solvency
8.5%
Return on assets
-3.4%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-352k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-06-2025, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
35 d early
2023
19 d early
2022
48 d early
2021
48 d early
2020
72 d early
2019
85 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Equity
€874k▼ 28.7%
2023 · €1.23M
2018: €1.10M
2019: €950k
2020: €739k
2021: €1.15M
2022: €1.60M
2023: €1.23M
2018 → 2024
Total assets
€10.31M▼ 1.3%
2023 · €10.45M
2018: €10.75M
2019: €10.53M
2020: €10.29M
2021: €10.05M
2022: €10.57M
2023: €10.45M
2018 → 2024
Net result
€-352k▲ 6.2%
2023 · €-375k
2018: €-147k
2019: €-154k
2020: €-211k
2021: €413k
2022: €450k
2023: €-375k
2018 → 2024
Working capital
€-7.27M▼ 5.2%
2023 · €-6.91M
2018: €-6.71M
2019: €-6.77M
2020: €-6.91M
2021: €-6.46M
2022: €-6.54M
2023: €-6.91M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€739k-€1.15M▲ 55.9%€1.60M▲ 39.1%€1.23M▼ 23.4%€874k▼ 28.7%
Operating result€-42k-€-205k▼ 385%€606k€-4k€46k
Net result€-211k-€413k€450k▲ 9.1%€-375k€-352k▲ 6.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2024: €46k after a loss of €4k in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €10.31M
Fixed assets
€10.13M▼ 1.2%
Current assets
€180k▼ 9.9%
Equity and liabilities €10.31M
Equity
€874k▼ 28.7%
Debt
€9.44M▲ 2.3%
The debt ratio rises from 88.3% to 91.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€167k▲
2023 · €117k
Cash flow
€-231k▲
2023 · €-254k
Solvency
8.5%▼
2023 · 11.7%
Current ratio
0.02▼
2023 · 0.03
Quick ratio
0.01▼
2023 · 0.02
Debt / equity
10.79▲
2023 · 7.52
ROE
-40.3%▼
2023 · -30.6%
ROA
-3.4%▲
2023 · -3.6%
Interest coverage
0.42▲
2023 · 0.32
Debt
€9.44M▲
2023 · €9.23M
Debt ≤ 1 year
€7.45M▲
2023 · €7.11M
Debt > 1 year
€1.86M▼
2023 · €1.99M
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€10.45M€10.31M▼
Fixed assets21/28€10.25M€10.13M▼
Tangible fixed assets22/27€3.74M€3.61M▼
Land and buildings22€984k€896k▼
Leasing and similar rights25€2.75M€2.72M▼
Financial fixed assets28€6.52M€6.52M=
Current assets29/58€200k€180k▼
Stocks and contracts in progress3€91k€91k=
Stocks30/36€91k€91k=
Amounts receivable within one year40/41€65k€14k▼
Trade receivables40€65k€14k▼
Cash at bank and in hand54/58€18k€58k▲
Deferred charges and accrued income490/1€26k€17k▼
Equity and liabilities
Total equity and liabilities10/49€10.45M€10.31M▼
Equity10/15€1.23M€874k▼
Contributions10/11€1.54M€1.54M=
Capital10€1.54M€1.54M=
Issued capital100€1.54M€1.54M=
Reserves13€5k€5k=
Non-distributable reserves130/1€5k€5k=
Legal reserve130€5k€5k=
Profit (loss) carried forward14€-318k€-670k▼
Amounts payable17/49€9.23M€9.44M▲
Amounts payable after more than one year17€1.99M€1.86M▼
Financial debts170/4€1.96M€1.84M▼
Other amounts payable178/9€25k€23k▼
Amounts payable within one year42/48€7.11M€7.45M▲
Current portion of amounts payable after more than one year42€117k€121k▲
Trade debts44€84k€57k▼
Suppliers440/4€84k€57k▼
Taxes, remuneration and social security45€7k€4k▼
Taxes450/3€7k€4k▼
Other amounts payable47/48€6.90M€7.26M▲
Accrued charges and deferred income492/3€130k€129k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€121k€121k=
Other operating charges640/8€2k€1k▼
Gross operating margin9900€119k€168k▲
Operating profit (loss)9901€-4k€46k▲
Financial income75/76B€8-
Recurring financial income75€8-
Financial charges65/66B€372k€398k▲
Recurring financial charges65€372k€398k▲
Profit (loss) for the period before taxes9903€-375k€-352k▲
Profit (loss) for the period9904€-375k€-352k▲
Profit (loss) for the period to be appropriated9905€-375k€-352k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-318k€-670k▼
Profit (loss) brought forward from the previous period14P€57k€-318k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
14-09
State Gazette act
Capital & shares · Statutes amendmentGeneral meeting · Capital increase · Bank account6 facts ▸
State Gazette act
Capital & shares · Statutes amendment
General meeting · Capital increase · Bank account6 facts ▸
- General meeting, 2026-09-02
- Capital increase, €4.902.311,03
- Bank account, BE87 7380 5692 6894
- Capital, €5.544.000
- Statutes amendment
- Power of attorney, RING STATION RIVER
10-09
State Gazette act
Capital & shares · Statutes amendmentGeneral meeting · Capital decrease · Net-asset statement6 facts ▸
State Gazette act
Capital & shares · Statutes amendment
General meeting · Capital decrease · Net-asset statement6 facts ▸
- General meeting, 2026-09-02
- Capital decrease, €898.311,03
- Net-asset statement, 2026-06-30
- Capital, €641.688,97
- Statutes amendment
- Power of attorney, Raad van bestuur
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-375k ▼183%
Net result drops to €-375k, the lowest in the series; recovery starts the following year.
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €450k ▲9.1%
Operating result €606k, net result €450k, both a record.
13-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €413k
Net result €413k after 3 loss-making years.
31-12
Financial
Equity above €1MEq €1.15M ▲55.9%
Equity rises from €739k to €1.15M.
20-05
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
07-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
24-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
27-05
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 acts for this company are in the Belgian State Gazette, of which we have read 2. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kontich · 1 establishment unit since 2008
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.
Keizershoek 3502550 KontichGround area
1,942 m²
Building footprint
386 m²
Volume, LiDAR
2,572 m³
2 parcels, Flanders · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
RS River
since 20082.171.026.086
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11024G0279/00E000 | Flanders | 1,010 m² | 1 · 156 m² | 7.2 m · 2 fl. |
| 11024G0279/00H000 | Flanders | 931 m² | 1 · 230 m² | 11.4 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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
Capital and shareholders
Capital increase of 4,902,311.03 EUR
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PUGNUM
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Of 1,292 companies in sector 68122 we hold annual accounts for 901. 550 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded20-03-2008
Fiscal year end31-12
Activities, NACEBEL
68122Development of non-residential building projects
68121Development of residential building projects
68110Buying and selling of own real estate
68203Renting and operating of own or leased non-residential real estate, excluding land
68204Real estate activities
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.