VLIEGEN RAF
ActiveVLIEGEN RAF has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €131k and a net result of €23k. Equity is growing by ~7% per year across the filed fiscal years. Its solvency ranks better than 62% of 27676 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
78
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability82▲+9
Solvency83▲+14
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 4.74 against 3.0 in 2024; short-term debt: 13.5% and cash: 13.4% of total assets), and 41.8% 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 · 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
Sector 43
higher
← 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
58.2%
Return on assets
10.2%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 16-12-2025, 46 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
46 d early
2024
44 d early
2023
43 d early
2022
19 d early
2021
82 d early
2020
80 d early
2019
64 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close21-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€131k▲ 21.4%
2024 · €108k
2019: €68k
2020: €98k
2021: €109k
2022: €118k
2023: €121k
2024: €108k
2019 → 2025
Total assets
€225k▼ 8.1%
2024 · €245k
2019: €340k
2020: €308k
2021: €284k
2022: €262k
2023: €263k
2024: €245k
2019 → 2025
Net result
€23k▲ 167%
2024 · €9k
2019: €31k
2020: €32k
2021: €11k
2022: €9k
2023: €3k
2024: €9k
2019 → 2025
Working capital
€114k▲ 15.8%
2024 · €98k
2019: €117k
2020: €115k
2021: €120k
2022: €123k
2023: €88k
2024: €98k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€109k-€118k▲ 8.0%€121k▲ 2.8%€108k▼ 10.7%€131k▲ 21.4%
Operating result€19k-€15k▼ 21.1%€8k▼ 47.3%€12k▲ 53.7%€32k▲ 160%
Net result€11k-€9k▼ 19.3%€3k▼ 61.9%€9k▲ 159%€23k▲ 167%
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 160% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €225k
Fixed assets
€81k▼ 17.1%
Current assets
€144k▼ 2.0%
Equity and liabilities €225k
Equity
€131k▲ 21.4%
Provisions
€27k=
Debt
€68k▼ 38.8%
The debt ratio falls from 45.1% to 30.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€56k▲
2024 · €44k
Cash flow
€47k▲
2024 · €41k
Solvency
58.2%▲
2024 · 44.0%
Current ratio
4.74▲
2024 · 3.00
Quick ratio
3.36▲
2024 · 2.45
Debt / equity
0.52▼
2024 · 1.02
ROE
17.6%▲
2024 · 8.0%
ROA
10.2%▲
2024 · 3.5%
Interest coverage
15.16▲
2024 · 12.38
Debt
€68k▼
2024 · €111k
Debt ≤ 1 year
€30k▼
2024 · €49k
Debt > 1 year
€37k▼
2024 · €49k
Income taxes
€7k▲
2024 · €1k
Staff costs
€206▼
2024 · €647
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€245k€225k▼
Fixed assets21/28€98k€81k▼
Tangible fixed assets22/27€98k€81k▼
Land and buildings22€51k€48k▼
Plant, machinery and equipment23€731€461▼
Furniture and vehicles24€46k€33k▼
Current assets29/58€147k€144k▼
Stocks and contracts in progress3€27k€42k▲
Stocks30/36€27k€28k▲
Contracts in progress37-€14k
Amounts receivable within one year40/41€47k€39k▼
Trade receivables40€43k€35k▼
Other amounts receivable41€4k€4k▲
Current investments50/53-€30k
Cash at bank and in hand54/58€70k€30k▼
Deferred charges and accrued income490/1€3k€3k▲
Equity and liabilities
Total equity and liabilities10/49€245k€225k▼
Equity10/15€108k€131k▲
Contributions10/11€19k€19k=
Reserves13€89k€112k▲
Distributable reserves133€89k€112k▲
Provisions and deferred taxes16€27k€27k=
Provisions for liabilities and charges160/5€27k€27k=
Pensions and similar obligations160€27k€27k=
Amounts payable17/49€111k€68k▼
Amounts payable after more than one year17€49k€37k▼
Financial debts170/4€49k€37k▼
Amounts payable within one year42/48€49k€30k▼
Current portion of amounts payable after more than one year42€20k€13k▼
Trade debts44€3k€8k▲
Suppliers440/4€3k€8k▲
Taxes, remuneration and social security45€1k€825▼
Taxes450/3€1k€825▼
Other amounts payable47/48€25k€9k▼
Accrued charges and deferred income492/3€12k€465▼
Income statement
Code20242025
Non-recurring operating income76A€5k€851▼
Remuneration, social security and pensions62€647€206▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€32k€24k▼
Other operating charges640/8€3k€1k▼
Gross operating margin9900€48k€57k▲
Operating profit (loss)9901€12k€32k▲
Financial income75/76B€959€1k▲
Recurring financial income75€959€1k▲
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€10k€30k▲
Income taxes67/77€1k€7k▲
Profit (loss) for the period9904€9k€23k▲
Profit (loss) for the period to be appropriated9905€9k€23k▲
Appropriation of the result
Profit (loss) to be appropriated9906€9k€23k▲
Transfer from equity791/2€22k-
Transfer to equity691/2€9k€23k▲
To other reserves6921€9k€23k▲
Profit to be distributed694/7€22k-
Return on contributions (dividend)694€22k-
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
2025
16-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2024
18-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
19-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
30-06
Financial
Weakest financial yearnet €3k ▼61.9%
Net result drops to €3k, the lowest in the series; recovery starts the following year.
12-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
10-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Equity above €100kEq €109k ▲11.1%
3 profitable years in a row build equity to €109k.
2020
12-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Highest result since 2019net €32k ▲3.7%
Net result €32k, the highest in the series.
2019
28-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
12-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
23-11
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
30-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Herk-de-Stad · 1 establishment unit since 1992
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.
Heidestraat 173540 Herk-de-StadGround area
1,425 m²
Building footprint
188 m²
Volume, LiDAR
1,219 m³
Parcel 71003A0219/00E000, Flanders · tallest building 10.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
VLIEGEN RAF BVBA
since 19922.058.951.989
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71003A0219/00E000 | Flanders | 1,425 m² | 1 · 187 m² | 10.9 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.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 141 EUR awarded · 141 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 141 EUR | 141 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 9,530 companies in sector 43222 we hold annual accounts for 5,661. 4,922 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-07-1992
Fiscal year end30-06
Activities, NACEBEL
43222Installation of electric heating, air conditioning, cooling and ventilation
43221Plumbing work
43240Other construction installation
43299Specialised construction activities
70322
81100Combined facilities support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:raf@vliegenraf.be