CALAY RAPHAEL
ActiveCALAY RAPHAEL has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €686k and a net result of €38k. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 94% of 7692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability75▲+8
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 5.54 against 3.73 in 2024; short-term debt: 10.9% and cash: 26.2% of total assets), and 10.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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 · 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
89.1%
Return on assets
4.9%
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 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
41 d early
2023
30 d late
2022
31 d early
2021
30 d late
2020
44 d early
2019
11 d late
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€38k
2024 · €-12k
2018: €73k
2019: €90k
2020: €120k
2021: €115k
2022: €72k
2023: €85k
2024: €-12k
2018 → 2025
Working capital
€382k▲ 30.6%
2024 · €292k
2018: €96k
2019: €126k
2020: €221k
2021: €394k
2022: €388k
2023: €315k
2024: €292k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€533k-€603k▲ 13.2%€686k▲ 13.8%€642k▼ 6.4%€686k▲ 6.9%
Operating result€162k-€97k▼ 39.9%€118k▲ 21.1%€-16k€39k
Net result€115k-€72k▼ 37.2%€85k▲ 17.8%€-12k€38k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €39k after a loss of €16k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €770k
Fixed assets
€304k▼ 17.3%
Current assets
€466k▲ 16.7%
Equity and liabilities €770k
Equity
€686k▲ 6.9%
Debt
€84k▼ 32.8%
The debt ratio falls from 16.3% to 10.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€167k▲
2024 · €113k
Cash flow
€165k▲
2024 · €116k
Solvency
89.1%▲
2024 · 83.7%
Current ratio
5.54▲
2024 · 3.73
Quick ratio
5.27▲
2024 · 3.20
Debt / equity
0.12▼
2024 · 0.20
ROE
5.5%▲
2024 · -1.9%
ROA
4.9%▲
2024 · -1.6%
Interest coverage
136.90▲
2024 · 65.18
Debt
€84k▼
2024 · €125k
Debt ≤ 1 year
€84k▼
2024 · €107k
Income taxes
€8k▲
2024 · €452
Staff costs
€124k▲
2024 · €95k
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€767k€770k▲
Fixed assets21/28€368k€304k▼
Tangible fixed assets22/27€365k€301k▼
Land and buildings22€79k€73k▼
Plant, machinery and equipment23€202k€186k▼
Furniture and vehicles24€64k€41k▼
Leasing and similar rights25€20k-
Financial fixed assets28€3k€4k▲
Current assets29/58€399k€466k▲
Stocks and contracts in progress3€58k€23k▼
Stocks30/36€43k€23k▼
Contracts in progress37€15k-
Amounts receivable within one year40/41€222k€235k▲
Trade receivables40€200k€212k▲
Other amounts receivable41€22k€23k▲
Cash at bank and in hand54/58€103k€202k▲
Deferred charges and accrued income490/1€17k€6k▼
Equity and liabilities
Total equity and liabilities10/49€767k€770k▲
Equity10/15€642k€686k▲
Contributions10/11€19k€19k=
Reserves13€571k€608k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€569k€607k▲
Profit (loss) carried forward14€46k€46k▼
Investment grants15€6k€14k▲
Amounts payable17/49€125k€84k▼
Amounts payable after more than one year17€18k-
Financial debts170/4€18k-
Amounts payable within one year42/48€107k€84k▼
Current portion of amounts payable after more than one year42€39k€18k▼
Trade debts44€20k€22k▲
Suppliers440/4€20k€22k▲
Taxes, remuneration and social security45€18k€18k▼
Taxes450/3€15k€14k▼
Remuneration and social security454/9€3k€4k▲
Other amounts payable47/48€30k€27k▼
Income statement
Code20242025
Non-recurring operating income76A-€2k
Remuneration, social security and pensions62€95k€124k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€128k€127k▼
Other operating charges640/8€5k€6k▲
Non-recurring operating charges66A€273-
Gross operating margin9900€213k€297k▲
Operating profit (loss)9901€-16k€39k▲
Financial income75/76B€6k€8k▲
Recurring financial income75€6k€8k▲
Financial charges65/66B€2k€1k▼
Recurring financial charges65€2k€1k▼
Profit (loss) for the period before taxes9903€-12k€46k▲
Income taxes67/77€452€8k▲
Profit (loss) for the period9904€-12k€38k▲
Profit (loss) for the period to be appropriated9905€-12k€38k▲
Appropriation of the result
Profit (loss) to be appropriated9906€47k€84k▲
Profit (loss) brought forward from the previous period14P€59k€46k▼
Transfer from equity791/2€30k-
Transfer to equity691/2-€38k
To other reserves6921-€38k
Profit to be distributed694/7€31k€800▼
Return on contributions (dividend)694€31k€800▼
Social balance
Average headcount (FTE)90873.53.0▼
The notes to these accounts (14 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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €38k
Net result €38k after one loss-making year.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-12k ▼114%
Net result drops to €-12k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
31-12
Financial
Equity above €500kEq €533k ▲29.3%
4 profitable years in a row build equity to €533k.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €120k ▲34%
Net result €120k, the highest in the series.
11-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 11 days late
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2016
17-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Bastogne · 1 establishment unit since 2012
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.
Arloncourt 1536600 BastogneGround area
5,257 m²
Building footprint
125 m²
Volume, LiDAR
895 m³
Parcel 82017D0587/00L000, Wallonia · tallest building 8.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Arloncourt 153, 6600 Bastogne
since 20122.206.309.342
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 82017D0587/00L000 | Wallonia | 5,257 m² | 1 · 125 m² | 8.4 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 11,139 companies in sector 43910 we hold annual accounts for 5,486. 3,093 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-01-2012
Fiscal year end31-12
Activities, NACEBEL
43320Joinery installation
43910Bricklaying and masonry work
43994Specialised construction activities
43120Site preparation
43990Other specialised construction activities
43999Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesPhone:061/21.74.70
Fax:0472/63.50.56