RAPSODE
ActiveRAPSODE has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.14M and a net result of €493k. Equity is growing by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 26% of 533 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
68
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability63▲+2
Solvency43▲+2
Growth50=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €340k at 30 days acceptable
Liquidity short (current ratio 0.71 against 0.58 in 2024; short-term debt: 7.3% and cash: 0.9% of total assets), and 82.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 · 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
17.7%
Return on assets
1.7%
Age of the figures
9 mo
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 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 d early
2024
48 d early
2023
48 d early
2022
52 d early
2021
41 d early
2020
50 d early
2019
74 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€7.18M▲ 2.7%
2024 · €6.99M
2018: €5.75M
2019: €5.82M
2020: €5.87M
2021: €5.74M
2022: €6.41M
2023: €6.83M
2024: €6.99M
2018 → 2025
EBIT margin
17.2%▲ 2.1pp
2024 · 15.1%
2018: 37.2%
2019: 19.9%
2020: 16.0%
2021: 18.2%
2022: 15.2%
2023: 15.4%
2024: 15.1%
2018 → 2025
Net result
€493k▲ 43.0%
2024 · €345k
2018: €1.33M
2019: €318k
2020: €189k
2021: €303k
2022: €246k
2023: €323k
2024: €345k
2018 → 2025
Working capital
€-613k▲ 30.9%
2024 · €-888k
2018: €-541k
2019: €-1.41M
2020: €-1.23M
2021: €-1.14M
2022: €-1.24M
2023: €-1.05M
2024: €-888k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€5.74M-€6.41M▲ 11.8%€6.83M▲ 6.5%€6.99M▲ 2.3%€7.18M▲ 2.7%
Equity€4.36M-€4.38M▲ 0.4%€4.59M▲ 4.8%€4.82M▲ 4.9%€5.14M▲ 6.6%
Operating result€1.04M-€972k▼ 6.8%€1.05M▲ 8.1%€1.06M▲ 0.6%€1.24M▲ 17.1%
Net result€303k-€246k▼ 18.8%€323k▲ 31.5%€345k▲ 6.7%€493k▲ 43.0%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 17% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €29.03M
Fixed assets
€27.52M▼ 2.0%
Current assets
€1.51M▲ 21.3%
Equity and liabilities €29.03M
Equity
€5.14M▲ 6.6%
Debt
€23.89M▼ 2.5%
The debt ratio falls from 83.6% to 82.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.91M▲
2024 · €1.72M
Cash flow
€1.17M▲
2024 · €1.01M
Solvency
17.7%▲
2024 · 16.4%
Current ratio
0.71▲
2024 · 0.58
Quick ratio
0.71▲
2024 · 0.58
Debt / equity
4.65▼
2024 · 5.09
ROE
9.6%▲
2024 · 7.2%
ROA
1.7%▲
2024 · 1.2%
Interest coverage
2.92▲
2024 · 2.57
Debt
€23.89M▼
2024 · €24.51M
Debt ≤ 1 year
€2.12M▼
2024 · €2.13M
Debt > 1 year
€13.98M▼
2024 · €14.28M
Income taxes
€98k▲
2024 · €49k
Staff costs
€4.26M▼
2024 · €4.34M
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€29.33M€29.03M▼
Fixed assets21/28€28.09M€27.52M▼
Intangible fixed assets21-€548
Tangible fixed assets22/27€12.46M€11.89M▼
Plant, machinery and equipment23€81k€86k▲
Furniture and vehicles24€91k€99k▲
Leasing and similar rights25€12.04M€11.49M▼
Other tangible fixed assets26€246k€213k▼
Financial fixed assets28€15.63M€15.63M=
Affiliated companies280/1€15.63M€15.63M=
Participating interests280€15.63M€15.63M=
Other financial fixed assets284/8€620€620=
Amounts receivable and cash guarantees285/8€620€620=
Current assets29/58€1.24M€1.51M▲
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€965k€1.17M▲
Trade receivables40€510k€485k▼
Other amounts receivable41€455k€681k▲
Cash at bank and in hand54/58€196k€256k▲
Deferred charges and accrued income490/1€81k€85k▲
Equity and liabilities
Total equity and liabilities10/49€29.33M€29.03M▼
Equity10/15€4.82M€5.14M▲
Contributions10/11€347k€347k=
Capital10€347k€347k=
Issued capital100€347k€347k=
Reserves13€35k€35k=
Non-distributable reserves130/1€35k€35k=
Legal reserve130€35k€35k=
Profit (loss) carried forward14€4.44M€4.75M▲
Amounts payable17/49€24.51M€23.89M▼
Amounts payable after more than one year17€14.28M€13.98M▼
Financial debts170/4€14.28M€13.98M▼
Leasing and similar obligations172€14.09M€13.83M▼
Credit institutions173€185k€144k▼
Amounts payable within one year42/48€2.13M€2.12M▼
Current portion of amounts payable after more than one year42€300k€339k▲
Financial debts43€291k€275k▼
Credit institutions430/8€291k€275k▼
Trade debts44€184k€219k▲
Suppliers440/4€184k€219k▲
Taxes, remuneration and social security45€498k€517k▲
Taxes450/3€30k€32k▲
Remuneration and social security454/9€468k€485k▲
Other amounts payable47/48€856k€770k▼
Accrued charges and deferred income492/3€8.10M€7.80M▼
Income statement
Code20242025
Operating income70/76A€7.42M€7.58M▲
Turnover70€6.99M€7.18M▲
Other operating income74€47k€15k▼
Non-recurring operating income76A€386k€387k▲
Operating charges60/66A€6.37M€6.34M▼
Goods for resale, raw materials and consumables60€503k€526k▲
Purchases600/8€503k€526k▲
Services and other goods61€789k€813k▲
Remuneration, social security and pensions62€4.34M€4.26M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€663k€677k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€5k€-7k▼
Other operating charges640/8€63k€75k▲
Non-recurring operating charges66A€0-
Operating profit (loss)9901€1.06M€1.24M▲
Financial income75/76B€8k€10k▲
Recurring financial income75€8k€10k▲
Income from current assets751€8k€10k▲
Other financial income752/9€0-
Financial charges65/66B€671k€657k▼
Recurring financial charges65€671k€657k▼
Debt charges650€670k€656k▼
Other financial charges652/9€947€999▲
Profit (loss) for the period before taxes9903€394k€591k▲
Income taxes67/77€49k€98k▲
Taxes670/3€66k€98k▲
Tax adjustments and reversals of tax provisions77€17k€0▼
Profit (loss) for the period9904€345k€493k▲
Profit (loss) for the period to be appropriated9905€345k€493k▲
Appropriation of the result
Profit (loss) to be appropriated9906€4.56M€4.93M▲
Profit (loss) brought forward from the previous period14P€4.21M€4.44M▲
Profit to be distributed694/7€118k€177k▲
Directors or managers695€118k€177k▲
Social balance
Average headcount (FTE)908773.172.1▼
The notes to these accounts (92 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
27-08
State Gazette act
Resignations & appointmentsGeneral meeting · Board meeting · Director appointment8 facts ▸
State Gazette act
Resignations & appointments
General meeting · Board meeting · Director appointment8 facts ▸
- General meeting, 2026-05-07
- Board meeting, 2026-05-07
- Director appointment, Valérie Anne Fraylich (administrateur)
- Director resignation, Jean-Claude Demeuse (administrateur)
- Director resignation, Guillaume Raoux (administrateur)
- Auditor reappointment, 3 ans, 2026-05-07
- Director appointment, Valérie Anne Fraylich (personne déléguée à la gestion journalière)
- Director resignation, Jean-Claude Demeuse (administrateur délégué)
04-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Equity above €5MEq €5.14M ▲6.6%
8 profitable years in a row build equity to €5.14M.
13-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
13-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
09-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
11-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €189k ▼40.6%
Net result drops to €189k, the lowest in the series; recovery starts the following year.
18-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
26-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
07-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
03-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 3 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 directors, no change since 2026
Valérie Anne Fraylich
CurrentDirector · since 07-05-2026
31-12-2026
Jean-Claude DEMEUSE: Resigned as Director
31-12-2026
Jean-Claude DEMEUSE: Resigned as Managing director
07-05-2026
Valérie Anne Fraylich: Appointed as Director
07-05-2026
Valérie Anne Fraylich: Appointed as Personne déléguée à la gestion journalière
07-05-2026
Guillaume RAOUX: Resigned as Director
Location & real-estate footprint
Registered office, Péruwelz · 1 establishment unit since 2004
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.
Rue du Buissenet(BML) 127604 PéruwelzGround area
1.4 ha
Building footprint
2,549 m²
Volume, LiDAR
21,058 m³
Parcel 57013A0392/00X000, Wallonia · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
LE MANOIR DU MENIL
since 20042.143.811.747
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57013A0392/00X000 | Wallonia | 1.4 ha | 2 · 2,549 m² | 12.2 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.
Statutory auditor
1 auditor| Forvis Mazars Réviseurs d’EntreprisesCurrent Auditor | 07-05-2026 → present |
Recognitions · licences · registrations
Food safety, FASFC
1 sitePéruwelz2.143.811.747
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Sint - Monica
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't Pandje
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Of 322 companies in sector 87101 we hold annual accounts for 235. 176 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded11-08-1987
Fiscal year end31-12
Activities, NACEBEL
85315
87101Residential care activities
87301Residential care activities
Sources
Crossroads Bank for EnterprisesNational Bank · 38 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.