Rutger Borghs
ActiveThe computed 12-month bankruptcy probability of Rutger Borghs is 1.6% (moderate). The 2025 annual accounts show equity of €12k and a net result of €27k. Equity is growing by ~78.1% per year across the filed fiscal years. Its solvency ranks better than 26% of 979 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
53
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability85▲+61
Solvency50▲+48
Growth78▲+20
Track record94
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days acceptable
Liquidity tight (current ratio 1.26 against 0.8 in 2024; short-term debt: 70.7% and cash: 0.8% of total assets), and 74.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Sector 42
higher
← fewer bankruptcies
more bankruptcies →
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
25.4%
Return on assets
55.5%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 09-04-2026, 21 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
21 d early
2024
23 d early
2023
1 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
19-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€12k
2024 · €-15k
2023: €-7k
2024: €-15k
2023 → 2025
Total assets
€49k▼ 24.1%
2024 · €64k
2023: €84k
2024: €64k
2023 → 2025
Net result
€27k
2024 · €-8k
2023: €-10k
2024: €-8k
2023 → 2025
Working capital
€9k
2024 · €-8k
2023: €-16k
2024: €-8k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€-7k-€-15k▼ 110%€12k
Operating result€-6k-€644€41k▲ 6,262%
Net result€-10k-€-8k▲ 22.7%€27k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 6,262% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €49k
Fixed assets
€5k▼ 83.5%
Current assets
€44k▲ 35.6%
Equity and liabilities €49k
Equity
€12k
Debt
€36k
Debt finances 74.6% of the balance-sheet total.
Key figures and ratios
EBITDA
€42k▲
2024 · €22k
Cash flow
€28k▲
2024 · €13k
Solvency
25.4%▲
2024 · -22.8%
Current ratio
1.26▲
2024 · 0.80
Quick ratio
1.26▲
2024 · 0.80
Debt / equity
2.93▲
2024 · -5.38
ROE
218.2%
ROA
55.5%▲
2024 · -12.0%
Interest coverage
4.18▲
2024 · 2.46
Debt
€36k▼
2024 · €79k
Debt ≤ 1 year
€35k▼
2024 · €40k
Debt > 1 year
€2k▼
2024 · €39k
Income taxes
€5k▲
2024 · €156
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€64k€49k▼
Fixed assets21/28€32k€5k▼
Tangible fixed assets22/27€32k€5k▼
Plant, machinery and equipment23€28k€0▼
Furniture and vehicles24€4k€3k▼
Other tangible fixed assets26-€2k
Current assets29/58€32k€44k▲
Amounts receivable within one year40/41€30k€43k▲
Trade receivables40€25k€37k▲
Other amounts receivable41€5k€6k▲
Cash at bank and in hand54/58€0€382▲
Deferred charges and accrued income490/1€2k€499▼
Equity and liabilities
Total equity and liabilities10/49€64k€49k▼
Equity10/15€-15k€12k▲
Contributions10/11€3k€3k=
Reserves13-€9k
Distributable reserves133-€9k
Profit (loss) carried forward14€-18k€0▲
Amounts payable17/49€79k€36k▼
Amounts payable after more than one year17€39k€2k▼
Financial debts170/4€39k€2k▼
Amounts payable within one year42/48€40k€35k▼
Current portion of amounts payable after more than one year42€16k€4k▼
Financial debts43€12k€3k▼
Credit institutions430/8€4k€0▼
Other loans439€8k€3k▼
Trade debts44€12k€28k▲
Suppliers440/4€12k€28k▲
Taxes, remuneration and social security45€0-
Taxes450/3€0-
Other amounts payable47/48€1k€0▼
Accrued charges and deferred income492/3€72€0▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21k€1k▼
Other operating charges640/8€4k€729▼
Gross operating margin9900€26k€43k▲
Operating profit (loss)9901€644€41k▲
Financial income75/76B€568€918▲
Recurring financial income75€568€918▲
Financial charges65/66B€9k€10k▲
Recurring financial charges65€9k€10k▲
Profit (loss) for the period before taxes9903€-8k€32k▲
Income taxes67/77€156€5k▲
Profit (loss) for the period9904€-8k€27k▲
Profit (loss) for the period to be appropriated9905€-8k€27k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-18k€9k▲
Profit (loss) brought forward from the previous period14P€-10k€-18k▼
Transfer to equity691/2-€9k
To other reserves6921-€9k
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
09-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Back to profitnet €27k
Net result €27k after 2 loss-making years.
07-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Vosselaar · 1 establishment unit since 2022
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.
Sparrenhof 12350 VosselaarGround area
693 m²
Building footprint
132 m²
Volume, LiDAR
913 m³
Parcel 13046A0253/00L014, Flanders · tallest building 9.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rutger Borghs
since 20222.337.069.993
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13046A0253/00L014 | Flanders | 693 m² | 1 · 132 m² | 9.6 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 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 2,327 companies in sector 42110 we hold annual accounts for 1,097. 427 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-10-2022
Fiscal year end30-09
Activities, NACEBEL
42110Construction of roads and motorways
43120Site preparation
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.