RUBO
ActiveSummary
RUBO has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €621,881 and a net result of €48,988. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 94% of 28184 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▼-2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50,000 at 30 days acceptable
Liquidity ample (current ratio 9.03 against 6.2 in 2024; short-term debt: 9.5% and cash: 27.8% of total assets), and 9.6% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
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
90.4%
Return on assets
7.1%
Age of the figures
9 mo
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 20-04-2026, 102 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
102 d early
2024
87 d early
2023
22 d early
2022
30 d early
2021
31 d late
2020
31 d late
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 7 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#5 oldest company in Hamont-Achel, Construction sector
Equity
€621,881▲ 7.9%
2024 · €576,225
Total assets
€687,542▲ 3.4%
2024 · €665,003
Net result
€48,988▼ 19.4%
2024 · €60,773
Working capital
€526,083▲ 14.1%
2024 · €461,237
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
Operating result€33,909▼ 30.9%-€9,018€57,872€84,134▲ 45.4%€66,853▼ 20.5%
Net result€34,528above the sector's middle half▼ 23.5%-€8,204below the sector's middle half€47,305within the sector's middle half€60,773above the sector's middle half▲ 28.5%€48,988above the sector's middle half▼ 19.4%
Equity€507,704above the sector's middle half▲ 6.6%€474,915within the sector's middle half▼ 6.5%€518,889within the sector's middle half▲ 9.3%€576,225above the sector's middle half▲ 11.0%€621,881above the sector's middle half▲ 7.9%
Total assets€570,533above the sector's middle half▼ 1.4%€504,913within the sector's middle half▼ 11.5%€573,490within the sector's middle half▲ 13.6%€665,003above the sector's middle half▲ 16.0%€687,542above the sector's middle half▲ 3.4%
Debt€62,828▼ 38.4%€29,997▼ 52.3%€54,602▲ 82.0%€88,777▲ 62.6%€65,661▼ 26.0%
Working capital€289,865▲ 1.3%€299,462▲ 3.3%€385,821▲ 28.8%€461,237▲ 19.5%€526,083▲ 14.1%
Solvency89.0%above the sector's middle half▲ 6.6pp94.1%above the sector's middle half▲ 5.1pp90.5%above the sector's middle half▼ 3.6pp86.7%above the sector's middle half▼ 3.8pp90.4%above the sector's middle half▲ 3.8pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
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 falls in 2025; 2025 is 21% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €687,542
Fixed assets
€95,937 ▼ 16.6%
Current assets
€591,606 ▲ 7.6%
Equity and liabilities €687,542
Equity
€621,881 ▲ 7.9%
Debt
€65,661 ▼ 26.0%
Debt's share of the balance-sheet total falls from 13.3% to 9.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€88,092▼
2024 · €109,135
Cash flow
€70,226▼
2024 · €85,774
Current ratio
9.03▲
2024 · 6.20
Quick ratio
8.95▲
2024 · 6.08
Debt to equity
0.11▼
2024 · 0.15
ROE
7.9%▼
2024 · 10.5%
ROA
7.1%▼
2024 · 9.1%
Interest coverage
28.95▼
2024 · 44.94
Debt ≤ 1 year
€65,523▼
2024 · €88,777
Income taxes
€18,726▼
2024 · €23,249
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,129 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 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% | 1.7% |
| 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 75% 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 20,129 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €500 | - | €1,240 | - | €248 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €38,112 | €42,386 | €42,386 | €25,001 | €21,239 | ▼ 15.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €27,971 | €31,125 | ▲ 11.3% |
| Other operating charges640/8 | €6,950 | €5,908 | €6,432 | €6,100 | €5,612 | ▼ 8.0% |
| Gross operating margin9900 | €78,971 | €39,276 | €106,690 | €143,206 | €124,829 | ▼ 12.8% |
| Operating profit (loss)9901 | €33,909 | -€9,018 | €57,872 | €84,134 | €66,853 | ▼ 20.5% |
| Financial income75/76B | €5,155 | €2,366 | €3,361 | €2,316 | €3,904 | ▲ 68.5% |
| Recurring financial income75 | €5,155 | €2,366 | €3,361 | €2,316 | €3,904 | ▲ 68.5% |
| Financial charges65/66B | €752 | €616 | €2,038 | €2,429 | €3,043 | ▲ 25.3% |
| Recurring financial charges65 | €752 | €616 | €2,038 | €2,429 | €3,043 | ▲ 25.3% |
| Profit (loss) for the period before taxes9903 | €38,313 | -€7,269 | €59,195 | €84,022 | €67,714 | ▼ 19.4% |
| Income taxes67/77 | €3,785 | €935 | €11,890 | €23,249 | €18,726 | ▼ 19.5% |
| Profit (loss) for the period9904 | €34,528 | -€8,204 | €47,305 | €60,773 | €48,988 | ▼ 19.4% |
| Profit (loss) for the period to be appropriated9905 | €34,528 | -€8,204 | €47,305 | €60,773 | €48,988 | ▼ 19.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €570,533 | €504,913 | €573,490 | €665,003 | €687,542 | ▲ 3.4% |
| Fixed assets21/28 | €217,840 | €175,454 | €133,067 | €114,988 | €95,937 | ▼ 16.6% |
| Tangible fixed assets22/27 | €217,820 | €175,434 | €133,048 | €114,969 | €95,917 | ▼ 16.6% |
| Land and buildings22 | €166,227 | €147,355 | €128,483 | €109,636 | €92,892 | ▼ 15.3% |
| Plant, machinery and equipment23 | €3,200 | €1,600 | - | - | - | - |
| Furniture and vehicles24 | €48,393 | €26,479 | €4,565 | €5,332 | €3,025 | ▼ 43.3% |
| Financial fixed assets28 | €20 | €20 | €20 | €20 | €20 | = |
| Current assets29/58 | €352,693 | €329,459 | €440,423 | €550,014 | €591,606 | ▲ 7.6% |
| Stocks and contracts in progress3 | €8,590 | €18,190 | €15,431 | €10,065 | €4,857 | ▼ 51.7% |
| Stocks30/36 | €8,590 | €18,190 | €15,431 | €10,065 | €4,857 | ▼ 51.7% |
| Amounts receivable within one year40/41 | €126,237 | €114,218 | €96,674 | €98,408 | €54,321 | ▼ 44.8% |
| Trade receivables40 | €76,837 | €110,923 | €95,329 | €91,940 | €42,587 | ▼ 53.7% |
| Other amounts receivable41 | €49,400 | €3,296 | €1,345 | €6,468 | €11,734 | ▲ 81.4% |
| Current investments50/53 | €160,000 | €125,300 | €222,024 | €222,094 | €337,721 | ▲ 52.1% |
| Cash at bank and in hand54/58 | €57,673 | €67,395 | €101,856 | €213,990 | €191,050 | ▼ 10.7% |
| Deferred charges and accrued income490/1 | €193 | €4,357 | €4,439 | €5,458 | €3,657 | ▼ 33.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €570,533 | €504,913 | €573,490 | €665,003 | €687,542 | ▲ 3.4% |
| Equity10/15 | €507,704 | €474,915 | €518,889 | €576,225 | €621,881 | ▲ 7.9% |
| Contributions10/11 | €24,000 | €24,000 | €24,000 | €24,000 | €24,000 | = |
| Reserves13 | €483,704 | €450,915 | €494,889 | €552,225 | €597,881 | ▲ 8.3% |
| Non-distributable reserves130/1 | €2,400 | €2,400 | - | - | - | - |
| Reserves not available under the articles1311 | €2,400 | €2,400 | - | - | - | - |
| Distributable reserves133 | €481,304 | €448,515 | €494,889 | €552,225 | €597,881 | ▲ 8.3% |
| Amounts payable17/49 | €62,828 | €29,997 | €54,602 | €88,777 | €65,661 | ▼ 26.0% |
| Amounts payable within one year42/48 | €62,828 | €29,997 | €54,602 | €88,777 | €65,523 | ▼ 26.2% |
| Trade debts44 | €12,620 | €3,168 | €16,112 | €28,528 | €5,086 | ▼ 82.2% |
| Suppliers440/4 | €12,620 | €3,168 | €16,112 | €28,528 | €5,086 | ▼ 82.2% |
| Taxes, remuneration and social security45 | €50,209 | €3,922 | €10,924 | €27,034 | €21,949 | ▼ 18.8% |
| Taxes450/3 | €48,451 | €2,164 | €9,306 | €27,034 | €21,949 | ▼ 18.8% |
| Remuneration and social security454/9 | €1,757 | €1,757 | €1,618 | - | - | - |
| Other amounts payable47/48 | - | €22,908 | €27,566 | €33,216 | €38,487 | ▲ 15.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | €139 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,528 | -€8,204 | €47,305 | €60,773 | €48,988 | ▼ 19.4% |
| + Depreciation and write-downs630 | €38,112 | €42,386 | €42,386 | €25,001 | €21,239 | ▼ 15.0% |
| Operating cash flow (approximation) | €72,639 | €34,182 | €89,691 | €85,774 | €70,226 | ▼ 18.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€6,922 | -€2,187 | ▲ 68.4% |
| Change in cash | - | €9,722 | €34,462 | €112,133 | -€22,940 | ▼ 120% |
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
20-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
05-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €60,773 ▲28.5%
Operating result €84,134, net result €60,773, both a record.
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €47,305
Net result €47,305 after one loss-making year.
31-12
Financial
Equity above €500,000Eq €518,889 ▲9.3%
Equity rises from €474,915 to €518,889.
01-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-12
Financial
Equity above €500,000Eq €507,704 ▲6.6%
3 profitable years in a row build equity to €507,704.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 61 days late
2019
31-12
Financial
Back to profitnet €2,090
Net result €2,090 after one loss-making year.
Show earlier events
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
09-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 9 days late
2017
07-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 7 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Hamont-Achel · 1 establishment unit since 1988
Ground area
7,336 m²
Building footprint
932 m²
Volume, LiDAR
5,057 m³
Parcel 72012D0545/00Z000, Flanders · tallest building 7.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
RUBO BVBA
since 19882.037.367.214
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72012D0545/00Z000indicative | Flanders | 7,336 m² | 1 · 932 m² | 7.3 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
0 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 4,269 companies in sector 43230 we hold annual accounts for 1,239. 672 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
Founded28-12-1987
Fiscal year end31-12
Activities, NACEBEL 2025
43230Insulation installation
43343Specialised construction activities
46831Wholesale of construction materials, general range
47521Retail sale of hardware, building materials, paint and glass (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0433034625
Also
9925:BE0433034625
Registered
31-03-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.