RING WAY
ActiveSummary
The computed 12-month bankruptcy probability of RING WAY is 2.1% (moderate). The annual accounts of RING WAY for fiscal year 2025 show a net loss of 99% of total assets and of 82% of the equity at the start of that year. The 2025 annual accounts show equity of €1,521 and a net result of -€7,147. Equity is shrinking by ~21.9% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 39% of 18626 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability6▲+6
Solvency46▼-14
Growth33▲+2
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.88 against 1.5 in 2024; short-term debt: 79% and cash: 0.1% of total assets), and 79% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
21%
Return on assets
-98.9%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€7,147
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 08-06-2026, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
37 d early
2023
32 d early
2022
24 d early
2021
32 d late
2020
149 d late
2019
59 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 13 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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 30 June (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€225,343▲ 8.4%
2024 · €207,882
EBIT margin
-2.0%▲ 6.2pp
2024 · -8.2%
Net result
-€7,147▲ 65.2%
2024 · -€20,550
Working capital
-€665
2024 · €8,292
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€222,470▼ 11.1%€210,449▼ 5.4%€225,308▲ 7.1%€207,882▼ 7.7%€225,343▲ 8.4%
Operating result-€5,169▲ 37.6%€937€17,317▲ 1,749%-€16,975-€4,466▲ 73.7%
Net result-€6,026below the sector's middle half▲ 29.6%€518within the sector's middle half€17,189within the sector's middle half▲ 3,219%-€20,550below the sector's middle half-€7,147below the sector's middle half▲ 65.2%
EBIT margin-2.3%▲ 1.0pp0.4%▲ 2.8pp7.7%▲ 7.2pp-8.2%▼ 15.9pp-2.0%▲ 6.2pp
Equity€11,511within the sector's middle half▼ 34.4%€12,029within the sector's middle half▲ 4.5%€29,218within the sector's middle half▲ 143%€8,668within the sector's middle half▼ 70.3%€1,521below the sector's middle half▼ 82.5%
Total assets€13,620below the sector's middle half▼ 28.6%€13,145below the sector's middle half▼ 3.5%€30,274below the sector's middle half▲ 130%€25,102below the sector's middle half▼ 17.1%€7,228below the sector's middle half▼ 71.2%
Debt€2,110▲ 37.5%€1,117▼ 47.1%€1,056▼ 5.4%€16,434▲ 1,456%€5,707▼ 65.3%
Working capital€10,676within the sector's middle half▼ 38.8%€11,548within the sector's middle half▲ 8.2%€29,091within the sector's middle half▲ 152%€8,292within the sector's middle half▼ 71.5%-€665within the sector's middle half
Solvency84.5%above the sector's middle half▼ 7.4pp91.5%above the sector's middle half▲ 7.0pp96.5%above the sector's middle half▲ 5.0pp34.5%within the sector's middle half▼ 62.0pp21.0%within the sector's middle half▼ 13.5pp
Current ratio6.06above the sector's middle half▼ 6.3111.34above the sector's middle half▲ 5.2828.54above the sector's middle half▲ 17.201.50within the sector's middle half▼ 27.040.88within the sector's middle half▼ 0.62
Return on assets (ROA)-44.2%below the sector's middle half▲ 0.7pp3.9%within the sector's middle half▲ 48.2pp56.8%above the sector's middle half▲ 52.8pp-81.9%below the sector's middle half▼ 138.6pp-98.9%below the sector's middle half▼ 17.0pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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
The operating result stays negative: a loss of €4,466 in 2025 against €16,975 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7,228
Fixed assets
€2,186 ▲ 481%
Current assets
€5,042 ▼ 79.6%
Equity and liabilities €7,228
Equity
€1,521 ▼ 82.5%
Debt
€5,707 ▼ 65.3%
Debt's share of the balance-sheet total rises from 65.5% to 79.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€1,361▲
2024 · -€16,769
Cash flow
-€4,042▲
2024 · -€20,344
Quick ratio
0.75▲
2024 · 0.31
Debt to equity
3.75▲
2024 · 1.90
ROE
-470.0%▼
2024 · -237.1%
Interest coverage
-0.65▲
2024 · -37.01
Debt ≤ 1 year
€5,707▼
2024 · €16,434
Income taxes
€583▼
2024 · €3,122
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,294 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
6.0%
stopped otherwise
90%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,294 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €222,470 | €210,449 | €225,308 | €207,882 | €225,343 | ▲ 8.4% |
| Non-recurring operating income76A | - | - | - | - | €122 | - |
| Goods, raw materials, services and sundry goods60/61 | €228,096 | €213,118 | €210,151 | €225,417 | €229,953 | ▲ 2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €227 | €354 | €354 | €207 | €3,105 | ▲ 1,403% |
| Other operating charges640/8 | €5,408 | €2,147 | €3,498 | €4,989 | €2,725 | ▼ 45.4% |
| Gross operating margin9900 | €466 | €3,438 | €21,169 | -€11,779 | €1,364 | ▲ 112% |
| Operating profit (loss)9901 | -€5,169 | €937 | €17,317 | -€16,975 | -€4,466 | ▲ 73.7% |
| Financial income75/76B | €5 | - | - | - | - | - |
| Recurring financial income75 | €5 | - | - | - | - | - |
| Financial charges65/66B | €563 | €120 | €127 | €453 | €2,098 | ▲ 363% |
| Recurring financial charges65 | €563 | €120 | €127 | €453 | €2,098 | ▲ 363% |
| Profit (loss) for the period before taxes9903 | -€5,727 | €816 | €17,189 | -€17,428 | -€6,564 | ▲ 62.3% |
| Income taxes67/77 | €299 | €298 | - | €3,122 | €583 | ▼ 81.3% |
| Profit (loss) for the period9904 | -€6,026 | €518 | €17,189 | -€20,550 | -€7,147 | ▲ 65.2% |
| Profit (loss) for the period to be appropriated9905 | -€6,026 | €518 | €17,189 | -€20,550 | -€7,147 | ▲ 65.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13,620 | €13,145 | €30,274 | €25,102 | €7,228 | ▼ 71.2% |
| Fixed assets21/28 | €835 | €481 | €127 | €376 | €2,186 | ▲ 481% |
| Tangible fixed assets22/27 | €835 | €481 | €127 | €376 | €2,186 | ▲ 481% |
| Furniture and vehicles24 | €835 | €481 | €127 | €376 | €2,186 | ▲ 481% |
| Current assets29/58 | €12,785 | €12,664 | €30,147 | €24,726 | €5,042 | ▼ 79.6% |
| Stocks and contracts in progress3 | €6,856 | €6,705 | €21,214 | €19,588 | €787 | ▼ 96.0% |
| Stocks30/36 | €6,856 | €6,705 | €21,214 | €19,588 | €787 | ▼ 96.0% |
| Amounts receivable within one year40/41 | €1,893 | €1,537 | €2,839 | €3,141 | €4,111 | ▲ 30.9% |
| Trade receivables40 | €18 | - | - | - | €537 | - |
| Other amounts receivable41 | €1,874 | €1,537 | €2,839 | €3,141 | €3,573 | ▲ 13.8% |
| Cash at bank and in hand54/58 | €3,577 | €4,422 | €5,966 | €1,736 | €7 | ▼ 99.6% |
| Deferred charges and accrued income490/1 | €460 | - | €127 | €260 | €137 | ▼ 47.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13,620 | €13,145 | €30,274 | €25,102 | €7,228 | ▼ 71.2% |
| Equity10/15 | €11,511 | €12,029 | €29,218 | €8,668 | €1,521 | ▼ 82.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| 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 | = |
| Profit (loss) carried forward14 | -€8,949 | -€8,431 | €8,758 | -€11,792 | -€18,939 | ▼ 60.6% |
| Amounts payable17/49 | €2,110 | €1,117 | €1,056 | €16,434 | €5,707 | ▼ 65.3% |
| Amounts payable within one year42/48 | €2,110 | €1,117 | €1,056 | €16,434 | €5,707 | ▼ 65.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1,417 | - | - |
| Trade debts44 | - | €627 | €1,056 | €1,642 | €859 | ▼ 47.7% |
| Suppliers440/4 | - | €627 | €1,056 | €1,642 | €859 | ▼ 47.7% |
| Taxes, remuneration and social security45 | €2,110 | €490 | - | €13,375 | €4,808 | ▼ 64.1% |
| Taxes450/3 | €240 | €490 | - | €2,535 | €284 | ▼ 88.8% |
| Remuneration and social security454/9 | €1,869 | - | - | €10,840 | €4,524 | ▼ 58.3% |
| Other amounts payable47/48 | - | - | - | - | €40 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,026 | €518 | €17,189 | -€20,550 | -€7,147 | ▲ 65.2% |
| + Depreciation and write-downs630 | €227 | €354 | €354 | €207 | €3,105 | ▲ 1,403% |
| Operating cash flow (approximation) | -€5,799 | €872 | €17,543 | -€20,344 | -€4,042 | ▲ 80.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€456 | -€4,915 | ▼ 979% |
| Change in cash | - | €845 | €1,545 | -€4,230 | -€1,730 | ▲ 59.1% |
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
08-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€20,550
Net result drops to -€20,550, the lowest in the series; recovery starts the following year.
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €17,189 ▲3,219%
Operating result €17,317, net result €17,189, both a record.
31-12
Financial
Liquidity triplescurrent ratio 28.54
Current ratio from 11.34 to 28.54; short-term debt falls from €1,117 to €1,056.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €518
Net result €518 after 2 loss-making years.
01-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 32 days late
2021
27-12
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 149 days late
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 59 days late
2019
31-12
Financial
Liquidity triplescurrent ratio 8.24
Current ratio from 2.46 to 8.24; short-term debt falls from €16,766 to €3,590.
Show earlier events
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 58 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 61 days late
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Anderlecht · 1 establishment unit since 2013
Ground area
739 m²
Parcel 21305C0255/00R002, Brussels. Linked by address, not a title deed.
1 establishment unit
HOP LA
since 20132.224.274.435
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21305C0255/00R002 | Brussels | 739 m² | - | - |
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
Food safety, FASFC
1 siteAnderlecht2.224.274.435
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Of 10,509 companies in sector 47110 we hold annual accounts for 5,853. 1,137 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
Founded02-10-2013
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
47260Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0539870524
Also
9925:BE0539870524
Registered
02-05-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.