Raphael PIROTTE
ActiveRaphael PIROTTE has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €714k and a net result of €121k. Equity is growing by ~29.9% per year across the filed fiscal years. Its solvency ranks better than 42% of 88 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
86
/ 100
Excellent▼ -8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability84▼-16
Solvency76▼-7
Growth78=
Stability100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 3.26 against 1.54 in 2024), but 65.9% 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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 87
Relative position
BE, all sectors
reference
Sector 87
lower
← 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
34.1%
Return on assets
5.7%
Age of the figures
8 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 27-04-2026, 95 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
95 d early
2024
95 d early
2023
108 d early
2022
95 d early
2021
95 d early
2020
91 d early
2019
68 d early
← 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
11-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€121k▼ 15.2%
2024 · €142k
2018: €30k
2019: €44k
2020: €109k
2021: €106k
2022: €125k
2023: €100k
2024: €142k
2018 → 2025
Working capital
€230k▲ 102%
2024 · €114k
2018: €39k
2019: €-1k
2020: €67k
2021: €109k
2022: €140k
2023: €210k
2024: €114k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€280k-€393k▲ 40.2%€480k▲ 22.3%€594k▲ 23.7%€714k▲ 20.3%
Operating result€147k-€143k▼ 2.9%€146k▲ 2.2%€187k▲ 28.0%€190k▲ 1.5%
Net result€106k-€125k▲ 17.0%€100k▼ 20.0%€142k▲ 42.8%€121k▼ 15.2%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 1% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.10M
Fixed assets
€1.77M▲ 97.7%
Current assets
€332k▲ 1.8%
Equity and liabilities €2.10M
Equity
€714k▲ 20.3%
Debt
€1.38M▲ 121%
The debt ratio rises from 51.3% to 65.9%: debt grows faster than equity.
Key figures and ratios
EBITDA
€251k▲
2024 · €249k
Cash flow
€182k▼
2024 · €205k
Solvency
34.1%▼
2024 · 48.7%
Current ratio
3.26▲
2024 · 1.54
Quick ratio
3.26▲
2024 · 1.54
Debt / equity
1.94▲
2024 · 1.05
ROE
16.9%▼
2024 · 24.0%
ROA
5.7%▼
2024 · 11.7%
Interest coverage
7.39▼
2024 · 21.88
Debt
€1.38M▲
2024 · €625k
Debt ≤ 1 year
€102k▼
2024 · €212k
Debt > 1 year
€1.28M▲
2024 · €411k
Income taxes
€35k▲
2024 · €34k
Staff costs
€183k▲
2024 · €171k
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€1.22M€2.10M▲
Fixed assets21/28€893k€1.77M▲
Tangible fixed assets22/27€893k€1.77M▲
Land and buildings22€843k€1.74M▲
Furniture and vehicles24€31k€17k▼
Leasing and similar rights25€15k€7k▼
Other tangible fixed assets26€4k€3k▼
Current assets29/58€326k€332k▲
Amounts receivable within one year40/41€42k€40k▼
Trade receivables40€33k€35k▲
Other amounts receivable41€9k€5k▼
Cash at bank and in hand54/58€281k€288k▲
Deferred charges and accrued income490/1€3k€4k▲
Equity and liabilities
Total equity and liabilities10/49€1.22M€2.10M▲
Equity10/15€594k€714k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Profit (loss) carried forward14€573k€694k▲
Amounts payable17/49€625k€1.38M▲
Amounts payable after more than one year17€411k€1.28M▲
Financial debts170/4€387k€1.25M▲
Other amounts payable178/9€24k€24k=
Amounts payable within one year42/48€212k€102k▼
Current portion of amounts payable after more than one year42€5k€11k▲
Financial debts43€50k€47k▼
Credit institutions430/8€50k€47k▼
Trade debts44€104k€9k▼
Suppliers440/4€104k€9k▼
Taxes, remuneration and social security45€30k€31k▲
Taxes450/3€12k€6k▼
Remuneration and social security454/9€18k€25k▲
Other amounts payable47/48€23k€4k▼
Accrued charges and deferred income492/3€2k€4k▲
Income statement
Code20242025
Remuneration, social security and pensions62€171k€183k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€63k€61k▼
Other operating charges640/8€7k€5k▼
Non-recurring operating charges66A€355€42▼
Gross operating margin9900€427k€439k▲
Operating profit (loss)9901€187k€190k▲
Financial income75/76B€878€31▼
Recurring financial income75€878€31▼
Non-recurring financial income76B€878€31▼
Financial charges65/66B€11k€34k▲
Recurring financial charges65€11k€34k▲
Profit (loss) for the period before taxes9903€176k€156k▼
Income taxes67/77€34k€35k▲
Profit (loss) for the period9904€142k€121k▼
Profit (loss) for the period to be appropriated9905€142k€121k▼
Appropriation of the result
Profit (loss) to be appropriated9906€602k€694k▲
Profit (loss) brought forward from the previous period14P€460k€573k▲
Profit to be distributed694/7€29k-
Return on contributions (dividend)694€29k-
Social balance
Average headcount (FTE)9087171,006.6-
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
2026
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity doublescurrent ratio 3.26
Current ratio from 1.54 to 3.26; short-term debt falls from €212k to €102k.
27-04
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €142k ▲42.8%
Net result €142k, the highest in the series.
31-12
Financial
Equity above €500kEq €594k ▲23.7%
7 profitable years in a row build equity to €594k.
14-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
27-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €200kEq €280k ▲56.1%
4 profitable years in a row build equity to €280k.
01-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Equity above €150kEq €179k ▲98%
3 profitable years in a row build equity to €179k.
24-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
12-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
10-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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, Liège · 1 establishment unit since 2013
Ground area
1,623 m²
Building footprint
154 m²
Volume, LiDAR
1,207 m³
Parcel 62302C0359/00R002, Wallonia · tallest building 10.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Résidence les blés d'or
since 20132.218.005.067
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62302C0359/00R002 | Wallonia | 1,622 m² | 1 · 154 m² | 10.4 m · 3 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 52 companies in sector 87209 we hold annual accounts for 30. 20 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded08-04-2013
Fiscal year end31-12
Activities, NACEBEL
87209Residential care activities
Sources
Crossroads Bank for EnterprisesNational Bank · 13 filingsAddress and cadastre registers
Data from official sources, last processed on 10-09-2026. Scores and ratios are computed by Checked and are not a credit decision.