RAYFRAN
0420.904.180 · rovalta.com · 22/09/2026
ACTIVE
RAYFRAN
Financial year 2025 · closed on 31/12/2025
Net result
3,2 k €
-77.4% YoY
Gross margin
466,5 k €
-4.3% YoY
Equity
37,9 k €
+9.1% YoY
Overview
What does RAYFRAN do?
RAYFRAN is a Private limited company incorporated in 1980. Its registered office is in Bruxelles.
Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0420.904.180
Incorporation
30/09/1980
Legal form
Private limited company
Registered office
Rue des Princes 6B
1000 Bruxelles · BruxellesSee on map
1000 Bruxelles · BruxellesSee on map
Contributed capital
175 000,00 €
Latest accounts
31/12/2025
Joint committees (1)
- 302
Signals
ProfitablePositive cashflowPositive EBITDAHealthy social debts
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Financials
Trend over 20 financial years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||||||||||||||||||||||||||||||||
| Gross margin | 466,5 k € | -4.3% | 487,5 k € | -7.0% | 524,3 k € | +29.9% | 403,7 k € | +114% | 188,3 k € | -0.6% | 189,6 k € | -62.2% | 501,5 k € | +9.4% | 458,5 k € | +7.7% | 425,7 k € | +24.3% | 342,6 k € | +3.8% | 330,1 k € | -5.5% | 349,3 k € | -15.7% | 414,5 k € | +7.1% | 387,1 k € | -5.8% | 411 k € | +6.7% | 385,2 k € | -8.5% | 421 k € | +6.7% | 394,6 k € | +3.1% | 382,6 k € | -1.4% | 388 k € |
| EBITDA | 33 k € | -57.1% | 77 k € | -26.6% | 104,9 k € | +121% | 47,6 k € | -45.2% | 86,8 k € | +389% | 17,8 k € | -77.8% | 80,2 k € | +25.4% | 63,9 k € | -38.4% | 103,8 k € | +165% | 39,1 k € | -31.3% | 56,9 k € | +82.9% | 31,1 k € | -37.7% | 49,9 k € | +169% | 18,6 k € | -59.9% | 46,3 k € | -24.3% | 61,2 k € | -18.4% | 75 k € | +20.1% | 62,5 k € | +2057% | 2,9 k € | -59.4% | 7,1 k € |
| Operating result | 13,1 k € | -61.8% | 34,4 k € | -50.3% | 69,2 k € | +348% | 15,5 k € | -72.4% | 55,9 k € | +495% | -14,2 k € | -132% | 44,9 k € | +50.1% | 29,9 k € | -55.7% | 67,5 k € | +4326% | 1,5 k € | -92.3% | 19,9 k € | +250% | 5,7 k € | -77.1% | 24,8 k € | +402% | -8,2 k € | -150% | 16,6 k € | -43.6% | 29,4 k € | -29.7% | 41,8 k € | +94.7% | 21,5 k € | +208% | -19,9 k € | +43.2% | -35 k € |
| Net result | 3,2 k € | -77.4% | 14 k € | -70.6% | 47,7 k € | +362% | 10,3 k € | -79.2% | 49,5 k € | +373% | -18,1 k € | -196% | 18,8 k € | -17.8% | 22,9 k € | -57.7% | 54,1 k € | +838% | -7,3 k € | -217% | 6,3 k € | +158% | 2,4 k € | -78.1% | 11,1 k € | +151% | -21,6 k € | -882% | -2,2 k € | -121% | 10,5 k € | +10.9% | 9,4 k € | +274% | 2,5 k € | -51.3% | 5,2 k € | +113% | -40,6 k € |
| Balance sheet | |||||||||||||||||||||||||||||||||||||||
| Equity | 37,9 k € | +9.1% | 34,8 k € | +67.5% | 20,8 k € | +177% | -26,9 k € | +27.7% | -37,3 k € | +57.0% | -86,8 k € | -26.4% | -68,6 k € | +21.5% | -87,5 k € | +16.5% | -104,8 k € | +29.8% | -149,2 k € | -5.2% | -141,9 k € | +4.2% | -148,2 k € | +1.6% | -150,6 k € | +6.9% | -161,7 k € | -15.4% | -140,1 k € | -1.6% | -138 k € | +7.0% | -148,4 k € | +6.0% | -157,8 k € | +1.6% | -160,4 k € | +3.1% | -165,5 k € |
| Total assets | 272 k € | -8.0% | 295,8 k € | -16.7% | 355,3 k € | +16.8% | 304,1 k € | -8.9% | 333,9 k € | +1.4% | 329,2 k € | -15.0% | 387,1 k € | -8.5% | 423,2 k € | +12.6% | 375,8 k € | +7.6% | 349,4 k € | -13.6% | 404,1 k € | +38.9% | 291 k € | -11.7% | 329,5 k € | -5.4% | 348,3 k € | -4.7% | 365,6 k € | -6.7% | 391,8 k € | -12.3% | 446,9 k € | -3.6% | 463,6 k € | -6.2% | 494,3 k € | -2.4% | 506,3 k € |
| Cash | 95,2 k € | -21.8% | 121,8 k € | -33.0% | 181,9 k € | +53.8% | 118,3 k € | +2.8% | 115 k € | +6770% | 1,7 k € | -84.8% | 11 k € | -66.7% | 33,1 k € | -47.5% | 63 k € | +1652% | 3,6 k € | +60.4% | 2,2 k € | -47.9% | 4,3 k € | -13.8% | 5 k € | +23.0% | 4,1 k € | -0.4% | 4,1 k € | -46.2% | 7,6 k € | -71.8% | 26,9 k € | +89.4% | 14,2 k € | -31.5% | 20,7 k € | -49.0% | 40,6 k € |
| Debts | 234,1 k € | -10.3% | 261 k € | -22.0% | 334,5 k € | +1.0% | 331,1 k € | -10.8% | 371,2 k € | -10.8% | 415,9 k € | -8.7% | 455,7 k € | -10.7% | 510,1 k € | +6.1% | 480,6 k € | -3.6% | 498,6 k € | -8.7% | 546 k € | +24.3% | 439,2 k € | -8.5% | 480,2 k € | -4.9% | 504,8 k € | -0.2% | 505,6 k € | -4.6% | 529,8 k € | -11.0% | 595,3 k € | -4.1% | 620,8 k € | -4.8% | 652,4 k € | -2.7% | 670,2 k € |
| Other | |||||||||||||||||||||||||||||||||||||||
| Workforce | – | – | – | – | – | 8,3 ETP | -8.8% | 9,1 ETP | – | 7,9 ETP | +21.5% | 6,5 ETP | +10.2% | 5,9 ETP | -31.4% | 8,6 ETP | -6.5% | 9,2 ETP | -7.1% | 9,9 ETP | -7.5% | 10,7 ETP | -0.9% | 10,8 ETP | -7.7% | 11,7 ETP | +0.9% | 11,6 ETP | -7.2% | 12,5 ETP | -10.7% | 14,0 ETP | |||||||
Estimate
Indicative valuation
As an indication, this company is worth
between 250 k€ and 500 k€
See the valuationGovernance
Board of directors
Seen on filing of 31/12/2025 · 3 active · 1 ended
Active mandates
Jonathan Van Den Heede
ActiveKarim Boualami
ActivePatrick Van Den Heede
ActiveEnded mandates
Patrick VanDen Heede
EndedFinancials
Annual accounts
Full financial information
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Type of account | Micro model | Micro model | Micro model | Micro model | Micro model | Abridged model |
| Start of the financial year | 01/01/2025 | 01/01/2024 | 01/01/2023 | 01/01/2022 | 01/01/2021 | 01/01/2020 |
| Closing of the financial year | 31/12/2025 | 31/12/2024 | 31/12/2023 | 31/12/2022 | 31/12/2021 | 31/12/2020 |
| Length of the financial year | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months |
| Filing date | 29/07/2026 | 04/10/2025 | 30/09/2024 | 31/10/2023 | 30/08/2022 | 25/08/2021 |
| General meeting | 30/06/2026 | 08/05/2025 | 09/05/2024 | 26/05/2023 | 27/05/2022 | 28/05/2021 |
| Currency of the financial year | EUR | EUR | EUR | EUR | EUR | EUR |
| NBB quality label | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls | Satisfying controls |
Ratios
Financial ratios
Looking for more information about this company?
Try for 7 daysFilings
Annual accounts filings
20 filings with the NBB
| Model | Closing | General meeting | Filed | Language | Document |
|---|---|---|---|---|---|
| Micro model | 31/12/2025 | 30/06/2026 | 29/07/2026 | French | |
| Micro model | 31/12/2024 | 08/05/2025 | 04/10/2025 | French | |
| Micro model | 31/12/2023 | 09/05/2024 | 30/09/2024 | French | |
| Micro model | 31/12/2022 | 26/05/2023 | 31/10/2023 | French | |
| Micro model | 31/12/2021 | 27/05/2022 | 30/08/2022 | French | |
| Abridged model | 31/12/2020 | 28/05/2021 | 25/08/2021 | French | |
| Abridged model | 31/12/2019 | 22/05/2020 | 22/09/2020 | French | |
| Abridged model | 31/12/2018 | 21/05/2019 | 26/08/2019 | French | |
| Abridged model | 31/12/2017 | 25/05/2018 | 30/08/2018 | French | |
| Abridged model | 31/12/2016 | 26/05/2017 | 07/07/2017 | French | |
| Abridged model | 31/12/2015 | 26/05/2016 | 22/07/2016 | French | |
| Abridged model | 31/12/2014 | 22/05/2015 | 24/08/2015 | French | |
| Abridged model | 31/12/2013 | 23/05/2014 | 02/08/2014 | French | |
| Abridged model | 31/12/2012 | 24/05/2013 | 31/07/2013 | French | |
| Abridged model | 31/12/2011 | 25/05/2012 | 21/08/2012 | French | |
| Abridged model | 31/12/2010 | 27/05/2011 | 20/06/2011 | French | |
| Abridged model | 31/12/2009 | 28/05/2010 | 28/07/2010 | French | |
| Abridged model | 31/12/2008 | 22/05/2009 | 24/07/2009 | French | |
| Abridged model | 31/12/2007 | 23/05/2008 | 04/08/2008 | French | |
| Abridged model | 31/12/2006 | 25/05/2007 | 02/08/2007 | French |
Valuation
Estimate
Indicative valuation
Order of magnitude
As an indication, this company is worth
between 250 k€ and 500 k€
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.
Disclaimer
Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.
Directors & structure
Governance
Board of directors
Seen on filing of 31/12/2025 · 3 active · 1 ended
Active mandates
Jonathan Van Den Heede
ActiveKarim Boualami
ActivePatrick Van Den Heede
ActiveEnded mandates
Patrick VanDen Heede
EndedShareholders
Ownership and network
Looking for more information about this company?
Try for 7 daysPublications
Belgian Official Gazette
Belgian Official Gazette publications
- Mandates29/02/2024STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
- Registered office10/12/2021SIEGE SOCIAL
- Mandates08/05/2015CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
- Registered office19/06/2006SIEGE SOCIAL - CAPITAL, ACTIONS - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
Source: Belgian Official Gazette
Similar companies
Competition
Similar companies
A company's peers, by sector and size, are included in the Business plan.
See the Business planTimeline
Timeline
- 2025Annual accounts 20253,2 k €↓
- 2024Annual accounts 202414 k €↓
- 2023Annual accounts 202347,7 k €↑
- 2022Annual accounts 202210,3 k €↓
- 2021Annual accounts 202149,5 k €↑
- 2020Annual accounts 2020-18,1 k €↓
- 2019Annual accounts 201918,8 k €↓
- 2018Annual accounts 201822,9 k €↓
- 2017Annual accounts 201754,1 k €↑
- 2016Annual accounts 2016-7,3 k €↓
- 2015Annual accounts 20156,3 k €↑
- 2014Annual accounts 20142,4 k €↓
- 2013Annual accounts 201311,1 k €↑
- 2012Annual accounts 2012-21,6 k €↓
- 2011Annual accounts 2011-2,2 k €↓
- 2010Annual accounts 201010,5 k €↑
- 2009Annual accounts 20099,4 k €↑
- 2008Annual accounts 20082,5 k €↓
- 2007Annual accounts 20075,2 k €↑
- 2006Annual accounts 2006-40,6 k €
- 30/09/1980IncorporationPrivate limited company