ACTIVE

RAY DE WULF

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Financial year 2025 · closed on 30/09/2025

Net result

96,5 k €

+3.0% YoY

Gross margin

151,2 k €

+6.1% YoY

Equity

427,6 k €

+4.0% YoY

Workforce

0,8 ETP

+14.3% YoY

What does RAY DE WULF do?

RAY DE WULF is a Private limited company incorporated in 1986. Its main activity is: Other retail sale of new goods in specialised stores. Its registered office is in Merelbeke-Melle. It employs on average 0,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0429.269.837

Incorporation

13/08/1986

Legal form

Private limited company

Registered office

Koningin Astridlaan 48
9820 Merelbeke-Melle · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

30/09/2025

Average workforce

0,8 ETP

Activities (NACE)

47781Other retail sale of new goods in specialised stores· main 47781Other retail sale of new goods in specialised stores 52481Warehousing and support activities for transportation

Joint committees (3)

100
127
12702

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 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007
Income statement
Gross margin	151,2 k €	+6.1%	142,6 k €	+7.0%	133,2 k €	-21.3%	169,2 k €	+12.4%	150,6 k €	-2.4%	154,3 k €	+10.5%	139,6 k €	+6.8%	130,8 k €	+30.2%	100,4 k €	-24.2%	132,6 k €	-3.4%	137,3 k €	+17.1%	117,2 k €	-26.9%	160,2 k €	+37.6%	116,4 k €	-22.7%	150,7 k €	+4.7%	144 k €	-25.5%	193,3 k €	+44.4%	133,9 k €	+32.8%	100,8 k €
EBITDA	112,3 k €	-1.1%	113,6 k €	+0.3%	113,2 k €	-24.5%	150 k €	+10.1%	136,2 k €	+3.1%	132,1 k €	+23.6%	106,9 k €	+8.6%	98,5 k €	+57.7%	62,4 k €	-35.8%	97,3 k €	-1.5%	98,8 k €	+25.7%	78,6 k €	-33.6%	118,5 k €	+57.0%	75,4 k €	-13.4%	87,1 k €	+14.1%	76,3 k €	-32.1%	112,5 k €	+67.2%	67,3 k €	+76.2%	38,2 k €
Operating result	104,9 k €	+4.2%	100,7 k €	+8.8%	92,5 k €	-20.9%	117,1 k €	+11.6%	104,9 k €	+5.8%	99,2 k €	+122%	44,7 k €	+34.0%	33,4 k €	+1013%	-3,7 k €	-134%	10,8 k €	+3.5%	10,4 k €	-0.4%	10,4 k €	-65.2%	30 k €	-33.8%	45,3 k €	-17.0%	54,6 k €	+33.9%	40,7 k €	-29.9%	58,1 k €	+184%	20,5 k €	+126%	9,1 k €
Net result	96,5 k €	+3.0%	93,7 k €	+10.3%	84,9 k €	-16.2%	101,4 k €	+11.4%	91 k €	+2.9%	88,4 k €	+117%	40,8 k €	+49.7%	27,2 k €	-45.9%	50,4 k €	+560%	7,6 k €	-14.3%	8,9 k €	-2.7%	9,1 k €	-66.9%	27,6 k €	-33.9%	41,8 k €	-11.7%	47,3 k €	+34.0%	35,3 k €	-29.5%	50 k €	+124%	22,3 k €	+157%	8,7 k €
Balance sheet
Equity	427,6 k €	+4.0%	411,1 k €	+3.4%	397,5 k €	+3.9%	382,5 k €	+8.9%	351,2 k €	+9.7%	320,1 k €	+9.0%	293,7 k €	+3.8%	282,9 k €	+5.7%	267,6 k €	+9.1%	245,3 k €	+3.2%	237,6 k €	+3.9%	228,7 k €	+4.2%	219,6 k €	+1.7%	216 k €	+9.0%	198,2 k €	+13.3%	174,9 k €	+9.6%	159,6 k €	+23.2%	129,6 k €	+20.8%	107,3 k €
Total assets	667 k €	-11.6%	754,2 k €	+6.2%	710,4 k €	-8.9%	779,9 k €	+27.3%	612,9 k €	+22.9%	498,7 k €	-20.8%	629,6 k €	+6.5%	591 k €	-6.9%	634,6 k €	+15.4%	549,8 k €	-12.3%	627 k €	+8.8%	576,5 k €	-15.3%	680,8 k €	+16.1%	586,6 k €	-5.1%	618,3 k €	+13.0%	547,1 k €	+2.5%	534 k €	-6.7%	572,2 k €	+31.0%	436,9 k €
Cash	419,6 k €	-14.0%	487,9 k €	+15.9%	421 k €	+13.5%	371 k €	+24.4%	298,2 k €	+9.7%	271,9 k €	+6.4%	255,5 k €	+75.5%	145,6 k €	-12.9%	167,3 k €	+64.4%	101,7 k €	+6.3%	95,7 k €	+96.2%	48,8 k €	-74.2%	188,9 k €	-14.0%	219,7 k €	-27.6%	303,7 k €	+21.6%	249,7 k €	+6.1%	235,4 k €	+38.5%	170 k €	-8.9%	186,6 k €
Debts	239,4 k €	-30.2%	343,1 k €	+9.6%	313 k €	-21.2%	397,4 k €	+53.1%	259,5 k €	+45.3%	178,6 k €	-46.8%	335,9 k €	+9.0%	308,1 k €	-16.0%	366,9 k €	+20.5%	304,5 k €	-21.8%	389,4 k €	+12.0%	347,7 k €	-24.6%	461,2 k €	+24.5%	370,6 k €	-11.8%	420 k €	+12.9%	372,2 k €	-0.6%	374,3 k €	-15.4%	442,6 k €	+34.3%	329,6 k €
Other
Workforce	0,8 ETP	+14.3%	0,7 ETP	+75.0%	0,4 ETP	0.0%	0,4 ETP	-20.0%	0,5 ETP	0.0%	0,5 ETP	-50.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP		–		–		1,0 ETP	0.0%	1,0 ETP	-44.4%	1,8 ETP	-10.0%	2,0 ETP	0.0%	2,0 ETP	0.0%	2,0 ETP	-4.8%	2,1 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 4 ended

Active mandates

Krista De Wulf

Manager · since 03 mai 1999

Active

Myriam De Wulf

Manager

Active

Ended mandates

Myriam De Wulf

Manager · since 05 janvier 2006

Ended

Krista De Wulf

Director · since 03 mai 1999

Ended

Krista De Wulf

Director

Ended

Myriam De Wulf

Director

Ended

At this address

Other companies at this address

Company	CBE no.
DE WULF C.● Active	0464.884.277

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/04/2026	30/05/2025	28/05/2024	30/05/2023	30/05/2022	30/04/2021
General meeting	27/02/2026	28/02/2025	23/02/2024	24/02/2023	25/02/2022	26/02/2021
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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	27/02/2026	30/04/2026	Dutch	PDF
Abridged model	30/09/2024	28/02/2025	30/05/2025	Dutch	PDF
Abridged model	30/09/2023	23/02/2024	28/05/2024	Dutch	PDF
Abridged model	30/09/2022	24/02/2023	30/05/2023	Dutch	PDF
Abridged model	30/09/2021	25/02/2022	30/05/2022	Dutch	PDF
Abridged model	30/09/2020	26/02/2021	30/04/2021	Dutch	PDF
Abridged model	30/09/2019	28/02/2020	31/05/2020	Dutch	PDF
Abridged model	30/09/2018	22/02/2019	29/04/2019	Dutch	PDF
Abridged model	30/09/2017	23/02/2018	22/04/2018	Dutch	PDF
Abridged model	30/09/2016	24/02/2017	29/05/2017	Dutch	PDF
Abridged model	30/09/2015	26/02/2016	29/04/2016	Dutch	PDF
Abridged model	30/09/2014	27/02/2015	29/05/2015	Dutch	PDF
Abridged model	30/09/2013	28/02/2014	28/04/2014	Dutch	PDF
Abridged model	30/09/2012	22/02/2013	24/04/2013	Dutch	PDF
Abridged model	30/09/2011	24/02/2012	30/04/2012	Dutch	PDF
Abridged model	30/09/2010	25/02/2011	18/05/2011	Dutch	PDF
Abridged model	30/09/2009	26/02/2010	07/05/2010	Dutch	PDF
Abridged model	30/06/2008	28/11/2008	11/02/2009	Dutch	PDF
Abridged model	30/06/2007	30/11/2007	29/02/2008	Dutch	PDF
Abridged model	30/06/2006	24/11/2006	15/02/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 30/09/2025 · 2 active · 4 ended

Active mandates

Krista De Wulf

Manager · since 03 mai 1999

Active

Myriam De Wulf

Manager

Active

Ended mandates

Myriam De Wulf

Manager · since 05 janvier 2006

Ended

Krista De Wulf

Director · since 03 mai 1999

Ended

Krista De Wulf

Director

Ended

Myriam De Wulf

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Other26/05/2009
BOEKJAAR - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates23/01/2006
ALGEMENE VERGADERING - KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - 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

2025
Annual accounts 202596,5 k €↑
2024
Annual accounts 202493,7 k €↑
2023
Annual accounts 202384,9 k €↓
2022
Annual accounts 2022101,4 k €↑
2021
Annual accounts 202191 k €↑
2020
Annual accounts 202088,4 k €↑
2019
Annual accounts 201940,8 k €↑
2018
Annual accounts 201827,2 k €↓
2017
Annual accounts 201750,4 k €↑
2016
Annual accounts 20167,6 k €↓
2015
Annual accounts 20158,9 k €↓
2014
Annual accounts 20149,1 k €↓
2013
Annual accounts 201327,6 k €↓
2012
Annual accounts 201241,8 k €↓
2011
Annual accounts 201147,3 k €↑
2010
Annual accounts 201035,3 k €↓
2009
Annual accounts 200950 k €↑
2008
Annual accounts 200822,3 k €↑
2007
Annual accounts 20078,7 k €
13/08/1986
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

RAY DE WULF

Overview

What does RAY DE WULF do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline