SILVER RAY
ActiveSummary
SILVER RAY has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €147,497 and a net result of €6,888. Equity is growing by ~4.9% per year across the filed fiscal years. Its solvency ranks better than 47% of 1930 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability71▲+2
Solvency71▲+13
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity tight (current ratio 1.09 against 1.0 in 2023; short-term debt: 38.6% and cash: 7% of total assets), and 54.2% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 59
Relative position
BE, all sectors
reference
Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59)
about 37% fewer 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
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-10-2025, 90 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
90 d late
2023
63 d late
2022
70 d late
2021
75 d late
2020
81 d late
2019
122 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 84 days after the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 41% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€147,497▲ 4.9%
2023 · €140,609
Total assets
€322,043▼ 24.9%
2023 · €429,071
Net result
€6,888▲ 700%
2023 · €861
Working capital
€10,996▲ 2,945%
2023 · €361
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-€7,275▲ 67.6%€25,839€65,399▲ 153%€10,238▼ 84.3%€20,086▲ 96.2%
Net result-€22,767▲ 9.6%€22,659€42,586▲ 87.9%€861▼ 98.0%€6,888▲ 700%
Equity€74,503▼ 23.4%€97,162▲ 30.4%€139,748▲ 43.8%€140,609▲ 0.6%€147,497▲ 4.9%
Total assets€307,700▼ 16.9%€252,096▼ 18.1%€291,019▲ 15.4%€429,071▲ 47.4%€322,043▼ 24.9%
Debt€233,196▼ 14.6%€154,934▼ 33.6%€151,271▼ 2.4%€288,463▲ 90.7%€174,545▼ 39.5%
Working capital-€15,777▲ 67.4%€4,077€15,775▲ 287%€361▼ 97.7%€10,996▲ 2,945%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 96% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €322,043
Fixed assets
€186,863 ▼ 4.1%
Current assets
€135,179 ▼ 42.3%
Equity and liabilities €322,043
Equity
€147,497 ▲ 4.9%
Debt
€174,545 ▼ 39.5%
Debt's share of the balance-sheet total falls from 67.2% to 54.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€55,387▲
2023 · €41,254
Cash flow
€42,189▲
2023 · €31,877
Current ratio
1.09▲
2023 · 1.00
Debt to equity
1.18▼
2023 · 2.05
ROE
4.7%▲
2023 · 0.6%
ROA
2.1%▲
2023 · 0.2%
Interest coverage
11.18▼
2023 · 12.52
Debt ≤ 1 year
€124,183▼
2023 · €233,848
Debt > 1 year
€50,187▼
2023 · €54,600
Income taxes
€8,245▲
2023 · €6,082
Staff costs
€773▼
2023 · €1,509
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,058 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 16,986 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 | - | - | €21 | €1,509 | €773 | ▼ 48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €31,459 | €25,443 | €26,452 | €31,016 | €35,301 | ▲ 13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €2,020 | - | - | - | - |
| Other operating charges640/8 | - | €1,697 | €1,819 | €2,094 | €2,564 | ▲ 22.4% |
| Non-recurring operating charges66A | - | €9,764 | €1,220 | €911 | €332 | ▼ 63.5% |
| Gross operating margin9900 | €41,933 | €64,763 | €94,910 | €45,767 | €59,056 | ▲ 29.0% |
| Operating profit (loss)9901 | -€7,275 | €25,839 | €65,399 | €10,238 | €20,086 | ▲ 96.2% |
| Financial income75/76B | - | €202 | €678 | €1 | €3 | ▲ 194% |
| Recurring financial income75 | €3,931 | €202 | €678 | €1 | €3 | ▲ 194% |
| Financial charges65/66B | - | €3,201 | €6,044 | €3,296 | €4,955 | ▲ 50.4% |
| Recurring financial charges65 | €4,923 | €3,201 | €6,044 | €3,296 | €4,955 | ▲ 50.4% |
| Profit (loss) for the period before taxes9903 | -€8,267 | €22,840 | €60,033 | €6,943 | €15,133 | ▲ 118% |
| Income taxes67/77 | €14,499 | €181 | €17,448 | €6,082 | €8,245 | ▲ 35.6% |
| Profit (loss) for the period9904 | -€22,767 | €22,659 | €42,586 | €861 | €6,888 | ▲ 700% |
| Profit (loss) for the period to be appropriated9905 | -€22,767 | €22,659 | €42,586 | €861 | €6,888 | ▲ 700% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €307,700 | €252,096 | €291,019 | €429,071 | €322,043 | ▼ 24.9% |
| Fixed assets21/28 | €127,972 | €119,140 | €145,377 | €194,863 | €186,863 | ▼ 4.1% |
| Intangible fixed assets21 | €1,295 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €126,677 | €119,140 | €145,377 | €194,863 | €186,863 | ▼ 4.1% |
| Land and buildings22 | - | €23,440 | €52,472 | €79,513 | €76,734 | ▼ 3.5% |
| Plant, machinery and equipment23 | - | €74,502 | €60,086 | €68,456 | €58,188 | ▼ 15.0% |
| Furniture and vehicles24 | - | €17,954 | €30,053 | €42,765 | €48,139 | ▲ 12.6% |
| Other tangible fixed assets26 | - | €3,243 | €2,767 | €4,129 | €3,802 | ▼ 7.9% |
| Current assets29/58 | €179,728 | €132,957 | €145,641 | €234,209 | €135,179 | ▼ 42.3% |
| Amounts receivable after more than one year29 | - | €77,148 | €73,612 | €60,612 | €9,597 | ▼ 84.2% |
| Other amounts receivable291 | - | €77,148 | €73,612 | €60,612 | €9,597 | ▼ 84.2% |
| Stocks and contracts in progress3 | €2,020 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €91,582 | €46,152 | €68,211 | €85,174 | €96,012 | ▲ 12.7% |
| Trade receivables40 | - | €29,922 | €51,399 | €63,859 | €62,877 | ▼ 1.5% |
| Other amounts receivable41 | - | €16,230 | €16,812 | €21,315 | €33,135 | ▲ 55.5% |
| Cash at bank and in hand54/58 | €574 | €8,259 | €2,643 | €2,884 | €22,595 | ▲ 684% |
| Deferred charges and accrued income490/1 | - | €1,398 | €1,175 | €85,539 | €6,976 | ▼ 91.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €307,700 | €252,096 | €291,019 | €429,071 | €322,043 | ▼ 24.9% |
| Equity10/15 | €74,503 | €97,162 | €139,748 | €140,609 | €147,497 | ▲ 4.9% |
| Contributions10/11 | - | €96,483 | €96,483 | €96,483 | €96,483 | = |
| Revaluation surpluses12 | - | €23,833 | €23,833 | €23,833 | €23,833 | = |
| Reserves13 | €2,128 | €2,128 | €16,628 | €16,628 | €23,517 | ▲ 41.4% |
| Non-distributable reserves130/1 | - | €2,128 | €2,128 | €2,128 | €2,128 | = |
| Reserves not available under the articles1311 | - | €2,128 | €2,128 | €2,128 | €2,128 | = |
| Distributable reserves133 | - | - | €14,500 | €14,500 | €21,388 | ▲ 47.5% |
| Profit (loss) carried forward14 | -€47,941 | -€25,282 | €2,804 | €3,664 | €3,664 | = |
| Amounts payable17/49 | €233,196 | €154,934 | €151,271 | €288,463 | €174,545 | ▼ 39.5% |
| Amounts payable after more than one year17 | €37,231 | €26,018 | €21,405 | €54,600 | €50,187 | ▼ 8.1% |
| Financial debts170/4 | - | €4,997 | €384 | €33,580 | €29,166 | ▼ 13.1% |
| Other amounts payable178/9 | - | €21,020 | €21,020 | €21,020 | €21,020 | = |
| Amounts payable within one year42/48 | €195,505 | €128,879 | €129,866 | €233,848 | €124,183 | ▼ 46.9% |
| Current portion of amounts payable after more than one year42 | - | €34,075 | €15,714 | €12,486 | €27,011 | ▲ 116% |
| Financial debts43 | - | €1,284 | €7,111 | - | - | - |
| Credit institutions430/8 | - | €1,284 | €7,111 | - | - | - |
| Trade debts44 | €97,308 | €60,022 | €72,012 | €122,099 | €65,592 | ▼ 46.3% |
| Suppliers440/4 | - | €60,022 | €72,012 | €122,099 | €65,592 | ▼ 46.3% |
| Advances received on contracts in progress46 | - | - | - | €48,000 | - | - |
| Taxes, remuneration and social security45 | - | €33,498 | €35,028 | €51,027 | €31,580 | ▼ 38.1% |
| Taxes450/3 | - | €29,940 | €31,471 | €47,469 | €28,023 | ▼ 41.0% |
| Remuneration and social security454/9 | - | €3,558 | €3,558 | €3,558 | €3,558 | = |
| Other amounts payable47/48 | - | - | - | €236 | - | - |
| Accrued charges and deferred income492/3 | - | €37 | - | €15 | €175 | ▲ 1,073% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€22,767 | €22,659 | €42,586 | €861 | €6,888 | ▲ 700% |
| + Depreciation and write-downs630 | €31,459 | €25,443 | €26,452 | €31,016 | €35,301 | ▲ 13.8% |
| Operating cash flow (approximation) | €8,692 | €48,102 | €69,037 | €31,877 | €42,189 | ▲ 32.3% |
| Investment in fixed assets (approximation) | - | -€16,612 | -€52,689 | -€80,501 | -€27,301 | ▲ 66.1% |
| Change in cash | - | €7,685 | -€5,616 | €240 | €19,711 | ▲ 8,106% |
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
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 90 days late
2024
02-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 63 days late
2023
09-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
31-12
Financial
Highest result since 2018net €42,586 ▲87.9%
Operating result €65,399, net result €42,586, both a record.
31-12
Financial
Equity above €100,000Eq €139,748 ▲43.8%
2 profitable years in a row build equity to €139,748.
14-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 75 days late
2021
31-12
Financial
Back to profitnet €22,659
Net result €22,659 after 2 loss-making years.
20-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 81 days late
2020
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
31-12
Financial
Weakest financial yearnet -€25,174
Net result drops to -€25,174, the lowest in the series; recovery starts the following year.
24-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 146 days late
2018
19-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 141 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
05-01
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 158 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Seneffe · 1 establishment unit since 2002
Ground area
455 m²
Building footprint
96 m²
Volume, LiDAR
610 m³
Parcel 52063G0020/00A000, Wallonia · 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
Rue de Manage 64, 7180 Seneffe
since 20022.115.185.661
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52063G0020/00A000 | Wallonia | 455 m² | 1 · 95 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.
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Of 521 companies in sector 59114 we hold annual accounts for 245. 182 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
Founded29-10-2002
Fiscal year end31-12
Activities, NACEBEL 2025
59113Video and film production, excluding cinema and television films
59114Motion picture, video and television programme production, sound recording and music publishing activities
18200Printing and reproduction of recorded media
59111Production of cinema films
62900Other information technology and computer services
90391Promotion and organisation of arts and performing arts events
90392Design and construction of stages and sets
90393Specialised image, lighting and sound technical services
90399Other support activities for arts and performing arts
Contact
Website
www.silverray.be
E-mail
info@silverray.be
Phone
064557537
Fax
064548345
E-mail
ben@silverray.beSeneffe
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478676291
Also
9925:BE0478676291
Registered
20-10-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.