Rubelko
ActiveSummary
Rubelko has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€502,699) and a net result of -€522,062. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 37948 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-100
Solvency0▼-44
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.15 against 0.25 in 2023; short-term debt: 326.1% and cash: 30.1% of total assets), and equity is negative.
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Signals
Five 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
-366.6%
Return on assets
-380.7%
Age of the figures
21 mo
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 · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€502,699
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 11-07-2025, 20 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
20 d early
2023
36 d early
2022
40 d early
2021
41 d early
2020
41 d early
2019
61 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 20 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
-€502,699
2023 · €19,363
Total assets
€137,132▲ 34.7%
2023 · €101,775
Net result
-€522,062
2023 · €440,567
Working capital
-€379,528▼ 1,462%
2023 · -€24,300
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€283,079▲ 206%-€120,467-€183,179▼ 52.1%€442,577-€460,396
Net result€1.3m▲ 6,008%-€156,932-€226,398▼ 44.3%€440,567-€522,062
Equity€971,503€814,571▼ 16.2%€588,173▼ 27.8%€19,363▼ 96.7%-€502,699
Total assets€2.2m▼ 23.0%€2.1m▼ 3.9%€2.1m▼ 1.0%€101,775▼ 95.1%€137,132▲ 34.7%
Debt€1.2m▼ 62.2%€1.3m▲ 6.0%€1.5m▲ 16.1%€82,412▼ 94.5%€639,832▲ 676%
Working capital-€607,070▲ 56.4%-€755,005▼ 24.4%-€1.1m▼ 40.4%-€24,300▲ 97.7%-€379,528▼ 1,462%
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 turns negative in 2024: a loss of €460,396 after €442,577 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €137,132
Fixed assets
€69,448 ▼ 25.9%
Current assets
€67,685 ▲ 734%
Key figures and ratios
EBITDA
-€456,652▼
2023 · €444,635
Cash flow
-€518,317▼
2023 · €442,625
Solvency
-366.6%▼
2023 · 19.0%
Current ratio
0.15▼
2023 · 0.25
Debt to equity
-1.27▼
2023 · 4.26
ROA
-380.7%▼
2023 · 432.9%
Interest coverage
-150.70▼
2023 · 50.19
Debt ≤ 1 year
€447,213▲
2023 · €32,412
Debt > 1 year
€192,619▲
2023 · €50,000
Income taxes
€59,138▲
2023 · €18,818
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,640 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.9%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 6,640 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €882 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €56,142 | €58,009 | €55,376 | €2,058 | €3,745 | ▲ 81.9% |
| Other operating charges640/8 | - | €19,513 | €7,892 | €9,302 | €29,294 | ▲ 215% |
| Gross operating margin9900 | €355,735 | -€42,945 | -€119,030 | €453,937 | -€427,357 | ▼ 194% |
| Operating profit (loss)9901 | €283,079 | -€120,467 | -€183,179 | €442,577 | -€460,396 | ▼ 204% |
| Financial income75/76B | - | €138 | €7 | €25,668 | €502 | ▼ 98.0% |
| Recurring financial income75 | €1.1m | €138 | €7 | €25,668 | €502 | ▼ 98.0% |
| Financial charges65/66B | - | €35,965 | €42,375 | €8,859 | €3,030 | ▼ 65.8% |
| Recurring financial charges65 | €39,408 | €35,965 | €42,375 | €8,859 | €3,030 | ▼ 65.8% |
| Profit (loss) for the period before taxes9903 | €1.3m | -€156,294 | -€225,548 | €459,385 | -€462,924 | ▼ 201% |
| Income taxes67/77 | €545 | €638 | €850 | €18,818 | €59,138 | ▲ 214% |
| Profit (loss) for the period9904 | €1.3m | -€156,932 | -€226,398 | €440,567 | -€522,062 | ▼ 218% |
| Profit (loss) for the period to be appropriated9905 | €1.3m | -€156,932 | -€226,398 | €440,567 | -€522,062 | ▼ 218% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.2m | €2.1m | €2.1m | €101,775 | €137,132 | ▲ 34.7% |
| Fixed assets21/28 | €2.2m | €2.0m | €2.0m | €93,663 | €69,448 | ▼ 25.9% |
| Intangible fixed assets21 | - | - | - | €51,580 | €8,429 | ▼ 83.7% |
| Tangible fixed assets22/27 | €2.2m | €2.0m | €2.0m | €42,082 | €61,019 | ▲ 45.0% |
| Land and buildings22 | - | €2.0m | €2.0m | €0 | - | - |
| Plant, machinery and equipment23 | - | €61,542 | €60,091 | €28,686 | €52,415 | ▲ 82.7% |
| Furniture and vehicles24 | - | €19,846 | €6,991 | €13,397 | €8,603 | ▼ 35.8% |
| Financial fixed assets28 | €0 | - | - | - | - | - |
| Current assets29/58 | €26,214 | €47,010 | €45,856 | €8,112 | €67,685 | ▲ 734% |
| Amounts receivable within one year40/41 | €7,018 | €28,909 | €28,579 | €6,312 | €26,403 | ▲ 318% |
| Trade receivables40 | - | €16,112 | €14,091 | €2,420 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €12,797 | €14,488 | €3,892 | €26,403 | ▲ 578% |
| Cash at bank and in hand54/58 | €19,197 | €11,963 | €12,048 | €1,406 | €41,281 | ▲ 2,836% |
| Deferred charges and accrued income490/1 | - | €6,138 | €5,230 | €394 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.2m | €2.1m | €2.1m | €101,775 | €137,132 | ▲ 34.7% |
| Equity10/15 | €971,503 | €814,571 | €588,173 | €19,363 | -€502,699 | ▼ 2,696% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €30,000 | €30,000 | = |
| Capital10 | - | €1.0m | €1.0m | €0 | - | - |
| Issued capital100 | - | €1.0m | €1.0m | €0 | - | - |
| Outside capital11 | - | - | - | €30,000 | €30,000 | = |
| Other1109/19 | - | - | - | €30,000 | €30,000 | = |
| Profit (loss) carried forward14 | -€67,874 | -€224,807 | -€451,204 | -€10,637 | -€532,699 | ▼ 4,908% |
| Amounts payable17/49 | €1.2m | €1.3m | €1.5m | €82,412 | €639,832 | ▲ 676% |
| Amounts payable after more than one year17 | €574,094 | €478,211 | €380,662 | €50,000 | €192,619 | ▲ 285% |
| Financial debts170/4 | - | €478,211 | €380,662 | €0 | €142,619 | - |
| Other amounts payable178/9 | - | - | - | €50,000 | €50,000 | = |
| Amounts payable within one year42/48 | €633,284 | €802,015 | €1.1m | €32,412 | €447,213 | ▲ 1,280% |
| Current portion of amounts payable after more than one year42 | - | €97,289 | €98,979 | €0 | €7,381 | - |
| Trade debts44 | €285,658 | €36,530 | €44,108 | €26,023 | €26,773 | ▲ 2.9% |
| Suppliers440/4 | - | €36,530 | €44,108 | €26,023 | €26,773 | ▲ 2.9% |
| Taxes, remuneration and social security45 | - | €7,565 | €11,302 | €1,942 | €534 | ▼ 72.5% |
| Taxes450/3 | - | €7,565 | €11,302 | €1,942 | €534 | ▼ 72.5% |
| Other amounts payable47/48 | - | €660,630 | €951,382 | €4,448 | €412,525 | ▲ 9,175% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.3m | -€156,932 | -€226,398 | €440,567 | -€522,062 | ▼ 218% |
| + Depreciation and write-downs630 | €56,142 | €58,009 | €55,376 | €2,058 | €3,745 | ▲ 81.9% |
| Operating cash flow (approximation) | €1.4m | -€98,923 | -€171,022 | €442,625 | -€518,317 | ▼ 217% |
| Investment in fixed assets (approximation) | - | €46,871 | -€36,338 | €1.9m | €20,471 | ▼ 98.9% |
| Change in cash | - | -€7,234 | €84 | -€10,641 | €39,875 | ▲ 475% |
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
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€522,062
Net result drops to -€522,062, the lowest in the series.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €440,567
Net result €440,567 after 2 loss-making years.
21-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
20-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €1.3m ▲6,008%
Net result €1.3m, the highest in the series.
31-12
Financial
Equity above €500,000Eq €971,503
3 profitable years in a row build equity to €971,503.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 61 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
11-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Schilde · 1 establishment unit since 1992
Ground area
5,474 m²
Building footprint
294 m²
Volume, LiDAR
1,509 m³
Parcel 11922C0434/00C000, Flanders · tallest building 9.5 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rubelko
since 19922.059.497.862
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11922C0434/00C000 | Flanders | 5,474 m² | 1 · 294 m² | 9.5 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2024 · 1 entry · 1,170 EUR awarded · 1,170 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 1,170 EUR | 1,170 EUR |
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Of 82,642 companies in sector 70200 we hold annual accounts for 52,590. 30,280 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
Founded01-10-1992
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
64210Activities of holding companies
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0448400514
Also
9925:BE0448400514
Registered
12-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.