ACTIVE

RAES

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Financial year 2025 · closed on 31/12/2025

Net result

102,1 k €

-33.5% YoY

Gross margin

224,6 k €

-24.8% YoY

Equity

1,3 M €

+8.6% YoY

Workforce

1,4 ETP

0.0% YoY

What does RAES do?

RAES is a Private limited company incorporated in 1989. Its registered office is in Oud-Heverlee. It employs on average 1,4 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0438.700.910

Incorporation

19/10/1989

Legal form

Private limited company

Registered office

Naamsesteenweg 9
3052 Oud-Heverlee · FlandreSee on map

Contributed capital

55 000,00 €

Latest accounts

31/12/2025

Average workforce

1,4 ETP

Joint committees (3)

14904
200
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

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	224,6 k €	-24.8%	298,6 k €	-4.9%	314 k €	-12.3%	358,2 k €	+2.8%	348,4 k €	+2.0%	341,6 k €	-1.4%	346,6 k €	-4.5%	362,9 k €	+45.7%	249,1 k €	-25.3%	333,7 k €	+10.5%	302 k €	+25.1%	241,3 k €	-9.8%	267,6 k €	-23.2%	348,4 k €	+13.9%	306 k €	+10.1%	278 k €	-4.3%	290,6 k €	+10.8%	262,3 k €	+22.3%	214,4 k €	+30.1%	164,8 k €
EBITDA	151,5 k €	-33.6%	228,2 k €	-6.8%	244,8 k €	-16.6%	293,6 k €	+4.7%	280,5 k €	-0.3%	281,4 k €	+1.7%	276,7 k €	-8.9%	303,7 k €	+59.0%	191 k €	-31.9%	280,4 k €	+11.5%	251,5 k €	+29.8%	193,8 k €	-15.1%	228,3 k €	-27.3%	313,8 k €	+25.6%	249,8 k €	+6.4%	234,8 k €	-5.0%	247,2 k €	+10.8%	223,1 k €	+39.3%	160,2 k €	+20.3%	133,2 k €
Operating result	121,7 k €	-38.8%	198,9 k €	-12.0%	226,1 k €	-20.7%	285,2 k €	+5.3%	270,8 k €	-0.4%	271,9 k €	+5.5%	257,6 k €	-11.7%	291,8 k €	+62.2%	179,9 k €	-32.6%	266,9 k €	+13.0%	236,1 k €	+26.8%	186,2 k €	-16.9%	224 k €	-25.4%	300,2 k €	+32.9%	225,9 k €	+7.4%	210,3 k €	-6.4%	224,7 k €	+10.9%	202,5 k €	+37.6%	147,2 k €	+26.2%	116,7 k €
Net result	102,1 k €	-33.5%	153,6 k €	-12.4%	175,4 k €	-19.8%	218,6 k €	+6.5%	205,3 k €	+2.2%	200,9 k €	+9.1%	184,1 k €	-11.8%	208,7 k €	+64.5%	126,9 k €	-31.6%	185,6 k €	+43.1%	129,7 k €	-11.1%	145,8 k €	-23.6%	190,8 k €	-22.5%	246,1 k €	+23.3%	199,5 k €	+16.5%	171,3 k €	-3.6%	177,6 k €	+8.9%	163,1 k €	+35.0%	120,8 k €	+32.1%	91,4 k €
Balance sheet
Equity	1,3 M €	+8.6%	1,2 M €	-47.3%	2,3 M €	+8.4%	2,1 M €	+11.7%	1,9 M €	+12.3%	1,7 M €	+13.7%	1,5 M €	+14.4%	1,3 M €	-39.6%	2,1 M €	+6.4%	2 M €	+10.3%	1,8 M €	+7.7%	1,7 M €	+9.5%	1,5 M €	+4.6%	1,5 M €	+19.5%	1,2 M €	+18.6%	1 M €	+18.9%	868,8 k €	+24.4%	698,3 k €	+30.5%	535,2 k €	+29.1%	414,4 k €
Total assets	1,4 M €	-44.6%	2,6 M €	+3.6%	2,5 M €	+9.6%	2,3 M €	+11.8%	2 M €	+12.1%	1,8 M €	+11.5%	1,6 M €	+14.7%	1,4 M €	-35.9%	2,2 M €	+4.2%	2,1 M €	+10.9%	1,9 M €	+9.7%	1,7 M €	+8.9%	1,6 M €	+1.1%	1,6 M €	+21.5%	1,3 M €	+9.6%	1,2 M €	+17.5%	1 M €	+10.7%	913,2 k €	+22.4%	745,9 k €	+20.0%	621,6 k €
Cash	867,7 k €	-55.9%	2 M €	+10.0%	1,8 M €	+13.2%	1,6 M €	+4.8%	1,5 M €	+19.7%	1,3 M €	+22.5%	1 M €	+16.5%	882,9 k €	-47.0%	1,7 M €	+10.9%	1,5 M €	+19.7%	1,3 M €	+18.8%	1,1 M €	+40.7%	750,7 k €	+31.4%	571,4 k €	+85.5%	308 k €	+134%	131,5 k €	-44.6%	237,4 k €	-8.2%	258,7 k €	+24.3%	208 k €	+6.6%	195,2 k €
Debts	125,6 k €	-90.9%	1,4 M €	+534%	217,3 k €	+23.6%	175,9 k €	+13.8%	154,6 k €	+9.5%	141,1 k €	-9.2%	155,4 k €	+17.8%	131,8 k €	+53.9%	85,7 k €	-30.9%	124 k €	+21.7%	101,8 k €	+62.2%	62,8 k €	-6.4%	67,1 k €	-42.7%	117,1 k €	+61.0%	72,7 k €	-52.1%	151,9 k €	+10.0%	138,1 k €	-35.7%	214,9 k €	+2.0%	210,6 k €	+2.2%	206,1 k €
Other
Workforce	1,4 ETP	0.0%	1,4 ETP	0.0%	1,4 ETP	0.0%	1,4 ETP	-6.7%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	0.0%	1,5 ETP	+25.0%	1,2 ETP	+20.0%	1,0 ETP	-16.7%	1,2 ETP	+20.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 ETP	0.0%	1,0 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 31/12/2025 · 2 active · 4 ended

Active mandates

PHILIPPE CLAESSENS

Director

Active

SIEGFRIED DESIRON

Director

Active

Ended mandates

JEAN-PIERRE PEETERS

Manager · until 14 octobre 2009

Ended

JEAN-PIERRE PEETERS

Manager

Ended

PHILIPPE CLAESSENS

Manager

Ended

SIEGFRIED DESIRON

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Bellefroid● Active	0406.077.434
IMMO ARES● Active	0468.748.639

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	01/01/2025	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	04/06/2026	07/07/2025	22/07/2024	22/06/2023	11/07/2022	18/08/2021
General meeting	03/06/2026	04/06/2025	05/06/2024	07/06/2023	01/06/2022	02/06/2021
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	31/12/2025	03/06/2026	04/06/2026	Dutch	PDF
Abridged model	31/12/2024	04/06/2025	07/07/2025	Dutch	PDF
Abridged model	31/12/2023	05/06/2024	22/07/2024	Dutch	PDF
Abridged model	31/12/2022	07/06/2023	22/06/2023	Dutch	PDF
Abridged model	31/12/2021	01/06/2022	11/07/2022	Dutch	PDF
Abridged model	31/12/2020	02/06/2021	18/08/2021	Dutch	PDF
Abridged model	31/12/2019	03/06/2020	13/10/2020	Dutch	PDF
Abridged model	31/12/2018	05/06/2019	27/08/2019	Dutch	PDF
Abridged model	31/12/2017	06/06/2018	13/08/2018	Dutch	PDF
Abridged model	31/12/2016	28/06/2017	25/09/2017	Dutch	PDF
Abridged model	31/12/2015	29/06/2016	19/07/2016	Dutch	PDF
Abridged model	31/12/2014	27/08/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	25/08/2014	27/08/2014	Dutch	PDF
Abridged model	31/12/2012	26/08/2013	30/08/2013	Dutch	PDF
Abridged model	31/12/2011	27/11/2012	29/11/2012	Dutch	PDF
Abridged model	31/12/2010	29/06/2011	11/07/2011	Dutch	PDF
Abridged model	31/12/2009	31/08/2010	30/09/2010	Dutch	PDF
Abridged model	31/12/2008	03/06/2009	25/08/2009	Dutch	PDF
Abridged model	31/12/2007	04/06/2008	29/08/2008	Dutch	PDF
Abridged model	31/12/2006	27/06/2007	09/07/2007	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 31/12/2025 · 2 active · 4 ended

Active mandates

PHILIPPE CLAESSENS

Director

Active

SIEGFRIED DESIRON

Director

Active

Ended mandates

JEAN-PIERRE PEETERS

Manager · until 14 octobre 2009

Ended

JEAN-PIERRE PEETERS

Manager

Ended

PHILIPPE CLAESSENS

Manager

Ended

SIEGFRIED DESIRON

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates24/11/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN - ALGEMENE VERGADERING
PDF
Capital / shares19/01/2018
KAPITAAL - AANDELEN
PDF
Capital / shares10/02/2014
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates27/11/2009
DOEL - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
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 2025102,1 k €↓
2024
Annual accounts 2024153,6 k €↓
2023
Annual accounts 2023175,4 k €↓
2022
Annual accounts 2022218,6 k €↑
2021
Annual accounts 2021205,3 k €↑
2020
Annual accounts 2020200,9 k €↑
2019
Annual accounts 2019184,1 k €↓
2018
Annual accounts 2018208,7 k €↑
2017
Annual accounts 2017126,9 k €↓
2016
Annual accounts 2016185,6 k €↑
2015
Annual accounts 2015129,7 k €↓
2014
Annual accounts 2014145,8 k €↓
2013
Annual accounts 2013190,8 k €↓
2012
Annual accounts 2012246,1 k €↑
2011
Annual accounts 2011199,5 k €↑
2010
Annual accounts 2010171,3 k €↓
2009
Annual accounts 2009177,6 k €↑
2008
Annual accounts 2008163,1 k €↑
2007
Annual accounts 2007120,8 k €↑
2006
Annual accounts 200691,4 k €
19/10/1989
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

RAES

Overview

What does RAES do?

Trend over 20 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