Ruw
ActiveSummary
Ruw has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €68k and a net result of €15k. Equity is growing by ~14.2% per year across the filed fiscal years. Its solvency ranks better than 57% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+7
Solvency79▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity ample (current ratio 4.01 against 3.66 in 2024; short-term debt: 11.5% and cash: 31% of total assets), and 46.3% of the assets are financed with debt.
Credit check for your own amount and term
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 · 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
53.7%
Return on assets
11.6%
Age of the figures
9 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
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 31-07-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
65 d early
2023
24 d early
2022
17 d early
2021
26 d early
2020
38 d late
2019
23 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€68k▲ 27.6%
2024 · €53k
Total assets
€126k▲ 13.2%
2024 · €112k
Net result
€15k▲ 112%
2024 · €7k
Working capital
€44k▲ 45.2%
2024 · €30k
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
Line20212022202320242025
Operating result€15k▲ 104%€7k▼ 57.1%€3k▼ 52.2%€11k▲ 254%€22k▲ 93.5%
Net result€10k▲ 106%€4k▼ 62.8%€41▼ 98.9%€7k▲ 16,628%€15k▲ 112%
Equity€42k▲ 31.5%€46k▲ 8.9%€46k▲ 0.1%€53k▲ 15.0%€68k▲ 27.6%
Total assets€112k▼ 7.1%€130k▲ 16.2%€119k▼ 8.1%€112k▼ 6.2%€126k▲ 13.2%
Debt€69k▼ 21.3%€83k▲ 20.6%€73k▼ 12.6%€59k▼ 19.7%€59k▲ 0.1%
Working capital€15k▲ 102%€20k▲ 36.7%€22k▲ 7.7%€30k▲ 37.9%€44k▲ 45.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 93% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €126k
Fixed assets
€68k ▼ 3.0%
Current assets
€58k ▲ 40.6%
Equity and liabilities €126k
Equity
€68k ▲ 27.6%
Debt
€59k ▲ 0.1%
Debt's share of the balance-sheet total falls from 52.4% to 46.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€26k▲
2024 · €16k
Cash flow
€19k▲
2024 · €11k
Current ratio
4.01▲
2024 · 3.66
Debt to equity
0.86▼
2024 · 1.10
ROE
21.6%▲
2024 · 13.0%
ROA
11.6%▲
2024 · 6.2%
Interest coverage
20.98▲
2024 · 13.42
Debt ≤ 1 year
€15k▲
2024 · €11k
Debt > 1 year
€44k▼
2024 · €47k
Income taxes
€6k▲
2024 · €3k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €9k | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €5k | €5k | €4k | €5k | ▲ 2.8% |
| Other operating charges640/8 | €1k | €1k | €3k | €1k | €1k | ▼ 1.2% |
| Gross operating margin9900 | €26k | €13k | €11k | €17k | €27k | ▲ 62.6% |
| Operating profit (loss)9901 | €15k | €7k | €3k | €11k | €22k | ▲ 93.5% |
| Financial income75/76B | €78 | €43 | €52 | €0 | €105 | - |
| Recurring financial income75 | €78 | €43 | €52 | €0 | €105 | - |
| Financial charges65/66B | €2k | €1k | €2k | €1k | €1k | ▲ 7.2% |
| Recurring financial charges65 | €2k | €1k | €2k | €1k | €1k | ▲ 7.2% |
| Profit (loss) for the period before taxes9903 | €14k | €5k | €1k | €10k | €20k | ▲ 105% |
| Income taxes67/77 | €4k | €2k | €1k | €3k | €6k | ▲ 88.0% |
| Profit (loss) for the period9904 | €10k | €4k | €41 | €7k | €15k | ▲ 112% |
| Profit (loss) for the period to be appropriated9905 | €10k | €4k | €41 | €7k | €15k | ▲ 112% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €112k | €130k | €119k | €112k | €126k | ▲ 13.2% |
| Fixed assets21/28 | €84k | €79k | €75k | €70k | €68k | ▼ 3.0% |
| Tangible fixed assets22/27 | €83k | €79k | €74k | €69k | €67k | ▼ 3.1% |
| Land and buildings22 | €82k | €78k | €74k | €69k | €65k | ▼ 6.2% |
| Plant, machinery and equipment23 | €817 | €467 | €205 | €42 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | - | €2k | - |
| Financial fixed assets28 | €800 | €800 | €800 | €800 | €800 | = |
| Current assets29/58 | €28k | €50k | €44k | €41k | €58k | ▲ 40.6% |
| Amounts receivable within one year40/41 | €2k | €37k | €19k | €4k | €19k | ▲ 348% |
| Trade receivables40 | - | €32k | €16k | €1 | €17k | ▲ 1,409,698% |
| Other amounts receivable41 | €2k | €5k | €3k | €4k | €2k | ▼ 50.3% |
| Cash at bank and in hand54/58 | €24k | €9k | €24k | €37k | €39k | ▲ 5.5% |
| Deferred charges and accrued income490/1 | €2k | €4k | €1k | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €112k | €130k | €119k | €112k | €126k | ▲ 13.2% |
| Equity10/15 | €42k | €46k | €46k | €53k | €68k | ▲ 27.6% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €24k | €28k | €28k | €35k | €49k | ▲ 42.4% |
| Non-distributable reserves130/1 | €2k | €2k | - | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | - | - | - | - |
| Distributable reserves133 | €22k | €26k | €28k | €35k | €49k | ▲ 42.4% |
| Amounts payable17/49 | €69k | €83k | €73k | €59k | €59k | ▲ 0.1% |
| Amounts payable after more than one year17 | €56k | €53k | €50k | €47k | €44k | ▼ 6.7% |
| Financial debts170/4 | €56k | €53k | €50k | €47k | €44k | ▼ 6.7% |
| Amounts payable within one year42/48 | €13k | €30k | €23k | €11k | €15k | ▲ 28.4% |
| Current portion of amounts payable after more than one year42 | €3k | €3k | €3k | €3k | €3k | ▲ 2.0% |
| Trade debts44 | €7k | €24k | €17k | €3k | €5k | ▲ 61.4% |
| Suppliers440/4 | €7k | €24k | €17k | €3k | €5k | ▲ 61.4% |
| Taxes, remuneration and social security45 | €2k | €2k | €3k | €0 | €5k | - |
| Taxes450/3 | €2k | €2k | - | - | €3k | - |
| Remuneration and social security454/9 | - | - | €3k | €0 | €2k | - |
| Other amounts payable47/48 | €77 | €562 | €52 | €5k | €2k | ▼ 65.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10k | €4k | €41 | €7k | €15k | ▲ 112% |
| + Depreciation and write-downs630 | €10k | €5k | €5k | €4k | €5k | ▲ 2.8% |
| Operating cash flow (approximation) | €20k | €8k | €5k | €11k | €19k | ▲ 69.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €-2k | - |
| Change in cash | - | €-15k | €15k | €13k | €2k | ▼ 83.8% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €15k ▲112%
Operating result €22k, net result €15k, both a record.
27-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
07-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
07-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 38 days late
2020
08-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
08-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 8 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, Gent · 1 establishment unit since 2012
Ground area
2,037 m²
Building footprint
175 m²
Volume, LiDAR
581 m³
Parcel 44017A0107/00K000, Flanders · tallest building 5.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Heiebreestraat 54, 9031 Gent
since 20122.208.066.131
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017A0107/00K000 | Flanders | 2,037 m² | 1 · 175 m² | 5.0 m · 1 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.
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Of 8,462 companies in sector 43120 we hold annual accounts for 3,230. 2,581 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
Founded27-02-2012
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
Scores and ratios are computed by Checked and are not a credit decision.