RAIL TERMINAL OPERATORS
ActiveSummary
RAIL TERMINAL OPERATORS has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9k and a net result of €-7k. Equity is shrinking by ~20.2% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
37
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency54▼-22
Growth32=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity short (current ratio 0.0 against 0.01 in 2024; short-term debt: 71.3% and cash: 0.2% of total assets), and 71.3% 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
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
28.7%
Return on assets
-21.9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-7k
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 28-07-2026, 3 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
3 d early
2024
2 d early
2023
2 d early
2022
29 d late
2021
121 d late
2020
87 d late
2019
90 d late
← 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-7k▼ 13.2%
2024 · €-6k
2018: €-3k
2019: €-8k
2020: €-6k
2021: €-6k
2022: €-6k
2023: €-5k
2024: €-6k
2018 → 2025
Working capital
€-21k▼ 44.5%
2024 · €-15k
2018: €52k
2019: €44k
2020: €38k
2021: €2k
2022: €-4k
2023: €-9k
2024: €-15k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€32k-€26k▼ 18.2%€21k▼ 20.5%€15k▼ 27.6%€9k▼ 43.2%
Operating result€-5k-€-6k▼ 11.6%€-6k▼ 0.6%€-6k▼ 5.1%€-7k▼ 5.6%
Net result€-6k-€-6k▼ 4.9%€-5k▲ 8.1%€-6k▼ 7.4%€-7k▼ 13.2%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €7k in 2025 against €6k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €30k
Fixed assets
€30k =
Current assets
€61 ▼ 38.5%
Equity and liabilities €30k
Equity
€9k ▼ 43.2%
Debt
€21k ▲ 43.9%
Debt's share of the balance-sheet total rises from 49.5% to 71.3%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.00▼
2024 · 0.01
Debt to equity
2.48▲
2024 · 0.98
ROE
-76.1%▼
2024 · -38.2%
ROA
-21.9%▼
2024 · -19.3%
Debt ≤ 1 year
€21k▲
2024 · €15k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 31 lines
Balance sheet
Code20242025
Assets
Total assets20/58€30k€30k▼
Fixed assets21/28€30k€30k=
Financial fixed assets28€30k€30k=
Current assets29/58€99€61▼
Cash at bank and in hand54/58€99€61▼
Equity and liabilities
Total equity and liabilities10/49€30k€30k▼
Equity10/15€15k€9k▼
Contributions10/11€87k€87k=
Capital10€87k€87k=
Issued capital100€87k€87k=
Reserves13€1k€1k=
Non-distributable reserves130/1€1k€1k=
Legal reserve130€1k€1k=
Profit (loss) carried forward14€-73k€-79k▼
Amounts payable17/49€15k€21k▲
Amounts payable within one year42/48€15k€21k▲
Trade debts44€2k€2k▲
Suppliers440/4€2k€2k▲
Other amounts payable47/48€13k€19k▲
Income statement
Code20242025
Other operating charges640/8€603€619▲
Gross operating margin9900€-6k€-6k▼
Operating profit (loss)9901€-6k€-7k▼
Financial income75/76B€1k€877▼
Recurring financial income75€1k€877▼
Financial charges65/66B€677€775▲
Recurring financial charges65€677€775▲
Profit (loss) for the period before taxes9903€-6k€-7k▼
Profit (loss) for the period9904€-6k€-7k▼
Profit (loss) for the period to be appropriated9905€-6k€-7k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-73k€-79k▼
Profit (loss) brought forward from the previous period14P€-67k€-73k▼
The notes to these accounts (2 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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
24-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 29 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
29-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 121 days late
2021
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 87 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 90 days late
2019
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
17-12
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 139 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Aalst · 1 establishment unit since 2001
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.
Ninovesteenweg 1909320 AalstGround area
2,792 m²
Building footprint
553 m²
Volume, LiDAR
5,519 m³
2 parcels, Flanders · tallest building 13.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Berchemstraat 14, 1700 Dilbeek
since 20012.095.391.723
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41342B0950/00G002 | Flanders | 2,382 m² | 1 · 460 m² | 13.2 m · 4 fl. |
| 23016D0017/00G000 | Flanders | 410 m² | 1 · 93 m² | 11.1 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded15-12-1999
Fiscal year end31-12
Abbreviation NL
RTO
Sources
Crossroads Bank for EnterprisesNational Bank · 27 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.