ACTIVE

RAFINA

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Financial year 2025 · closed on 31/12/2025
Net result
861,3 k €
+3.9% YoY
Gross margin
3,9 M €
+5.6% YoY
Equity
5,1 M €
+20.5% YoY
Workforce
32,5 ETP
-2.4% YoY

What does RAFINA do?

RAFINA is a Public limited company incorporated in 1980. Its registered office is in Menen. It employs on average 32,5 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0420.125.014
Incorporation
01/01/1980
Legal form
Public limited company
Registered office
Rekkemstraat 66
8930 Menen · FlandreSee on map
Contributed capital
62 000,00 €
Latest accounts
31/12/2025
Average workforce
32,5 ETP
Joint committees (5)
  • 119
  • 11901
  • 200
  • 2000
  • 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 12 financial years

202520242023202220212012201120102009200820072006
Income statement
Gross margin3,9 M €3,7 M €3,4 M €3,3 M €2,9 M €––1,2 M €1,4 M €1,3 M €1,2 M €1,1 M €
EBITDA1,6 M €1,5 M €1,3 M €1,3 M €842,7 k €356,9 k €501,8 k €252,7 k €340,8 k €335,7 k €248,7 k €187,7 k €
Operating result1,2 M €1,1 M €908,3 k €966,7 k €497,2 k €200,4 k €366 k €140,5 k €189,9 k €119,9 k €60 k €27,1 k €
Net result861,3 k €829,3 k €671 k €757,2 k €349,3 k €116,5 k €268,8 k €98,5 k €119,4 k €73,5 k €21,9 k €22,4 k €
Balance sheet
Equity5,1 M €4,2 M €3,8 M €3,1 M €2,6 M €2,7 M €2,6 M €2,4 M €2,3 M €2,2 M €461,9 k €440 k €
Total assets8,9 M €7,6 M €6,9 M €6,5 M €5,9 M €4,1 M €4,1 M €3,8 M €3,8 M €4 M €2,2 M €2,2 M €
Cash343,7 k €347,8 k €473,7 k €758,4 k €454,4 k €467,2 k €526,9 k €577,6 k €476,6 k €428,2 k €252,1 k €219,5 k €
Debts3,8 M €3,4 M €3,2 M €3,4 M €3,4 M €1,4 M €1,6 M €1,4 M €1,5 M €1,9 M €1,8 M €1,8 M €
Other
Workforce32,5 ETP33,3 ETP32,6 ETP34,3 ETP36,9 ETP23,3 ETP23,8 ETP24,5 ETP26,7 ETP26,7 ETP26,4 ETP26,1 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 28 ended

Active mandates

DIBRACO

Director · since 11 juin 2020 · 0667.946.651

Represented by Didier De Brauwer

Active

Ended mandates

DIBRACO

Director · since 11 juin 2020 · until 02 juin 2026 · 0667.946.651

Represented by De BRAUWER DIDIER

Ended
DIBRACO

Director · since 21 décembre 2016 · until 07 juin 2022 · 0667.946.651

Represented by De Brauwer Didier

Ended
DIBRACO

Managing director · since 21 décembre 2016 · until 07 juin 2022 · 0667.946.651

Represented by Didier De Brauwer

Ended
Jacques De Brauwer

Director · since 21 décembre 2016 · until 11 juin 2020

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date30/07/202616/07/202524/07/202426/07/202328/07/202227/07/2021
General meeting17/07/202614/07/202515/07/202415/07/202320/07/202222/07/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202517/07/202630/07/2026DutchPDF
Abridged model31/12/202414/07/202516/07/2025DutchPDF
Abridged model31/12/202315/07/202424/07/2024DutchPDF
Abridged model31/12/202215/07/202326/07/2023DutchPDF
Abridged model31/12/202120/07/202228/07/2022DutchPDF
Abridged model31/12/202022/07/202127/07/2021DutchPDF
Abridged model31/12/201920/07/202024/07/2020DutchPDF
Abridged model31/12/201823/07/201925/07/2019DutchPDF
Abridged model31/12/201710/07/201820/07/2018DutchPDF
Full model31/12/201606/06/201723/06/2017DutchPDF
Full model31/12/201507/06/201616/06/2016DutchPDF
Full model31/12/201402/06/201512/06/2015DutchPDF
Full model31/12/201303/06/201416/07/2014DutchPDF
Full model31/12/201204/06/201320/06/2013DutchPDF
Full model31/12/201105/06/201205/07/2012DutchPDF
Abridged model31/12/201007/06/201120/06/2011DutchPDF
Abridged model31/12/200901/06/201001/07/2010DutchPDF
Abridged model31/12/200802/06/200901/07/2009DutchPDF
Abridged model31/12/200724/06/200830/06/2008DutchPDF
Abridged model31/12/200631/07/200731/08/2007DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 28 ended

Active mandates

DIBRACO

Director · since 11 juin 2020 · 0667.946.651

Represented by Didier De Brauwer

Active

Ended mandates

DIBRACO

Director · since 11 juin 2020 · until 02 juin 2026 · 0667.946.651

Represented by De BRAUWER DIDIER

Ended
DIBRACO

Director · since 21 décembre 2016 · until 07 juin 2022 · 0667.946.651

Represented by De Brauwer Didier

Ended
DIBRACO

Managing director · since 21 décembre 2016 · until 07 juin 2022 · 0667.946.651

Represented by Didier De Brauwer

Ended
Jacques De Brauwer

Director · since 21 décembre 2016 · until 11 juin 2020

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Restructuring03/07/2020
    ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Restructuring30/04/2020
    RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
    PDF
  • Other19/10/2017
    STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates23/02/2017
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates17/07/2014
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates08/03/2013
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates05/09/2012
    ONTSLAGEN - BENOEMINGEN
    PDF
  • Mandates11/01/2008
    ONTSLAGEN - BENOEMINGEN
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025861,3 k €↑
  2. 2024
    Annual accounts 2024829,3 k €↑
  3. 2023
    Annual accounts 2023671 k €↓
  4. 2022
    Annual accounts 2022757,2 k €↑
  5. 2021
    Annual accounts 2021349,3 k €↑
  6. 2012
    Annual accounts 2012116,5 k €↓
  7. 2011
    Annual accounts 2011268,8 k €↑
  8. 2010
    Annual accounts 201098,5 k €↓
  9. 2009
    Annual accounts 2009119,4 k €↑
  10. 2008
    Annual accounts 200873,5 k €↑
  11. 2007
    Annual accounts 200721,9 k €↓
  12. 2006
    Annual accounts 200622,4 k €
  13. 01/01/1980
    IncorporationPublic limited company