RITELO
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 20-10-2026 at the NBB all 7 filings
Equity
€16,193▼ 19.9%
2025 · €20,220
Total assets
€33,425▼ 11.5%
2025 · €37,767
Net result
-€4,027▲ 11.2%
2025 · -€4,533
Working capital
€16,193▼ 19.9%
2025 · €20,220
Multi-year overview
2020 to 2026, 7 financial yearsOperating result
-€3,834
▲ 13.2%
2026
20202026
Net result
-€4,027
▲ 11.2%
2026
20202026
Equity
€16,193
▼ 19.9%
2026
20202026
Total assets
€33,425
▼ 11.5%
2026
20202026
Debt
€17,232
▼ 1.8%
2026
20202026
Working capital
€16,193
▼ 19.9%
2026
20202026
Solvency
48.4%
▼ 5.1pp
2026
20202026
Current ratio
1.94
▼ 0.21
2026
20202026
Return on assets (ROA)
-12.0%
=
2026
20202026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2020202120222023202420252026
Operating result€76,298-€62,953▼ 17.5%€14,952▼ 76.2%€382▼ 97.4%-€6,703-€4,415▲ 34.1%-€3,834▲ 13.2%
Net result€53,403-€46,529above the sector's middle half▼ 12.9%€10,749within the sector's middle half▼ 76.9%€85within the sector's middle half▼ 99.2%-€6,895below the sector's middle half-€4,533below the sector's middle half▲ 34.3%-€4,027▲ 11.2%
Equity€68,403-€114,932within the sector's middle half▲ 68.0%€125,681above the sector's middle half▲ 9.4%€125,767above the sector's middle half▲ 0.1%€24,754within the sector's middle half▼ 80.3%€20,220within the sector's middle half▼ 18.3%€16,193▼ 19.9%
Total assets€80,785-€129,204within the sector's middle half▲ 59.9%€141,113within the sector's middle half▲ 9.2%€143,064within the sector's middle half▲ 1.4%€42,464below the sector's middle half▼ 70.3%€37,767below the sector's middle half▼ 11.1%€33,425▼ 11.5%
Debt€12,382-€14,272▲ 15.3%€15,432▲ 8.1%€17,298▲ 12.1%€17,711▲ 2.4%€17,547▼ 0.9%€17,232▼ 1.8%
Working capital€68,403-€114,932above the sector's middle half▲ 68.0%€125,681above the sector's middle half▲ 9.4%€125,767above the sector's middle half▲ 0.1%€24,754within the sector's middle half▼ 80.3%€20,220within the sector's middle half▼ 18.3%€16,193▼ 19.9%
Solvency84.7%-89.0%above the sector's middle half▲ 4.3pp89.1%above the sector's middle half▲ 0.1pp87.9%above the sector's middle half▼ 1.2pp58.3%within the sector's middle half▼ 29.6pp53.5%within the sector's middle half▼ 4.8pp48.4%▼ 5.1pp
Current ratio6.52-9.05above the sector's middle half▲ 2.539.14above the sector's middle half▲ 0.098.27above the sector's middle half▼ 0.872.40within the sector's middle half▼ 5.872.15within the sector's middle half▼ 0.251.94▼ 0.21
Return on assets (ROA)66.1%-36.0%above the sector's middle half▼ 30.1pp7.6%within the sector's middle half▼ 28.4pp0.1%within the sector's middle half▼ 7.6pp-16.2%below the sector's middle half▼ 16.3pp-12.0%below the sector's middle half▲ 4.2pp-12.0%=
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is a loss of €3,834, smaller than the loss of €4,415 in 2025.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Equity and liabilities €33,425
Equity
€16,193 ▼ 19.9%
Debt
€17,232 ▼ 1.8%
Debt's share of the balance-sheet total rises from 46.5% to 51.6%. Equity and debt are lower.
Key figures and ratios
Debt to equity
1.06▲
2025 · 0.87
ROE
-24.9%▼
2025 · -22.4%
Debt ≤ 1 year
€17,232▼
2025 · €17,547
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | €410 | €410 | €446 | €449 | €462 | ▲ 2.8% |
| Gross operating margin9900 | €76,646 | €63,363 | €15,361 | €791 | -€6,256 | -€3,966 | -€3,372 | ▲ 15.0% |
| Operating profit (loss)9901 | €76,298 | €62,953 | €14,952 | €382 | -€6,703 | -€4,415 | -€3,834 | ▲ 13.2% |
| Financial income75/76B | - | - | - | €3 | €0 | €42 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | - | €3 | €0 | €42 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | €521 | €184 | €193 | €159 | €194 | ▲ 21.6% |
| Recurring financial charges65 | €370 | €809 | €521 | €184 | €193 | €159 | €194 | ▲ 21.6% |
| Profit (loss) for the period before taxes9903 | €75,928 | €62,145 | €14,431 | €201 | -€6,895 | -€4,533 | -€4,027 | ▲ 11.2% |
| Income taxes67/77 | €22,525 | €15,616 | €3,681 | €115 | €0 | - | - | - |
| Profit (loss) for the period9904 | €53,403 | €46,529 | €10,749 | €85 | -€6,895 | -€4,533 | -€4,027 | ▲ 11.2% |
| Profit (loss) for the period to be appropriated9905 | €53,403 | €46,529 | €10,749 | €85 | -€6,895 | -€4,533 | -€4,027 | ▲ 11.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €80,785 | €129,204 | €141,113 | €143,064 | €42,464 | €37,767 | €33,425 | ▼ 11.5% |
| Current assets29/58 | €80,785 | €129,204 | €141,113 | €143,064 | €42,464 | €37,767 | €33,425 | ▼ 11.5% |
| Amounts receivable within one year40/41 | €14,417 | €15,151 | €11,978 | €11,225 | €10,127 | €9,939 | €10,117 | ▲ 1.8% |
| Trade receivables40 | - | - | €10,544 | €10,076 | €9,998 | €9,869 | €9,869 | = |
| Other amounts receivable41 | - | - | €1,435 | €1,148 | €129 | €70 | €247 | ▲ 254% |
| Cash at bank and in hand54/58 | €66,368 | €114,052 | €129,134 | €131,839 | €32,337 | €27,828 | €23,188 | ▼ 16.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €120 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €80,785 | €129,204 | €141,113 | €143,064 | €42,464 | €37,767 | €33,425 | ▼ 11.5% |
| Equity10/15 | €68,403 | €114,932 | €125,681 | €125,767 | €24,754 | €20,220 | €16,193 | ▼ 19.9% |
| Contributions10/11 | - | - | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Reserves13 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | €1,193 | ▼ 20.5% |
| Distributable reserves133 | - | - | €1,500 | €1,500 | €1,500 | €1,500 | €1,193 | ▼ 20.5% |
| Profit (loss) carried forward14 | €51,903 | €98,432 | €109,181 | €109,267 | €8,254 | €3,720 | €0 | ▼ 100% |
| Amounts payable17/49 | €12,382 | €14,272 | €15,432 | €17,298 | €17,711 | €17,547 | €17,232 | ▼ 1.8% |
| Amounts payable within one year42/48 | €12,382 | €14,272 | €15,432 | €17,298 | €17,711 | €17,547 | €17,232 | ▼ 1.8% |
| Financial debts43 | - | - | €0 | €66 | €387 | €315 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | €0 | €66 | €387 | €315 | €0 | ▼ 100% |
| Trade debts44 | €487 | - | - | - | €92 | €0 | - | - |
| Suppliers440/4 | - | - | - | - | €92 | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | €0 | - | - | - | - | - |
| Taxes450/3 | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | €15,432 | €17,232 | €17,232 | €17,232 | €17,232 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,403 | €46,529 | €10,749 | €85 | -€6,895 | -€4,533 | -€4,027 | ▲ 11.2% |
| Operating cash flow (approximation) | €53,403 | €46,529 | €10,749 | €85 | -€6,895 | -€4,533 | -€4,027 | ▲ 11.2% |
| Change in cash | - | €47,685 | €15,082 | €2,705 | -€99,502 | -€4,509 | -€4,640 | ▼ 2.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,591 companies had the same profile as RITELO has now. Two years later, 87.4% were still going and 3.0% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
87.4%
was still going
9.4%
stopped otherwise
3.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of RITELO itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,591 companies, not a prediction for RITELO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 20-10-2026 | 2026-00569139 | |
| 31-03-2025 | micro format | 20-10-2025 | 2025-00547694 | |
| 31-03-2024 | micro format | 24-10-2024 | 2024-00517729 | |
| 31-03-2023 | micro format | 26-10-2023 | 2023-00496598 | |
| 31-03-2022 | micro format | 21-10-2022 | 2022-20469058 | |
| 31-03-2021 | micro format | 28-10-2021 | 2021-73700268 | |
| 31-03-2020 | micro format | 30-10-2020 | 2020-65000599 |