ACTIVE

RAS

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Financial year 2025 · closed on 31/12/2025

Net result

38,1 k €

+130.6% YoY

Gross margin

472,2 k €

+47.0% YoY

Equity

192,7 k €

+1.0% YoY

What does RAS do?

RAS is a Private limited company incorporated in 2012. Its main activity is: Construction of buildings. Its registered office is in Hasselt.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0844.891.576

Incorporation

28/03/2012

Legal form

Private limited company

Registered office

Gebanne-Groezenstraat 3
3500 Hasselt · FlandreSee on map

Contributed capital

13 000,00 €

Latest accounts

31/12/2025

Activities (NACE)

41001Construction of buildings· main 41201Construction of residential and non-residential buildings 43350Building completion and finishing 43390Other building completion and finishing 77221Rental of video tapes and disks 77291Rental and leasing of other personal and household goods

Joint committees (2)

Signals

ProfitableGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Gross margin	472,2 k €	+47.0%	321,1 k €	-32.0%	472,4 k €	+96.8%	240,1 k €	-7.6%	259,9 k €	+268%	70,6 k €	+549%	10,9 k €	+1740%	-662,9 €	-496%	-111,2 €	+89.3%	-1 k €	+66.0%	-3,1 k €	-10.9%	-2,8 k €	-113%	20,7 k €	-55.3%	46,4 k €
EBITDA	77 k €	+2764%	2,7 k €	-98.2%	151,7 k €	+8.5%	139,8 k €	-34.2%	212,6 k €	+284%	55,4 k €	+441%	10,2 k €	+833%	-1,4 k €	-87.4%	-745,7 €	+62.3%	-2 k €	+46.9%	-3,7 k €	-8.3%	-3,4 k €	-117%	20,1 k €	-53.1%	42,8 k €
Operating result	53,9 k €	+382%	-19,1 k €	-114%	140,3 k €	+5.9%	132,5 k €	-35.9%	206,6 k €	+297%	52,1 k €	+409%	10,2 k €	+833%	-1,4 k €	-87.4%	-745,7 €	+62.3%	-2 k €	+51.5%	-4,1 k €	+37.9%	-6,6 k €	-141%	16,1 k €	-60.4%	40,6 k €
Net result	38,1 k €	+131%	-124,3 k €	-218%	105,3 k €	+21.9%	86,4 k €	-36.7%	136,5 k €	+278%	36,2 k €	+255%	10,2 k €	+805%	-1,4 k €	-82.0%	-794,1 €	+61.0%	-2 k €	+74.9%	-8,1 k €	-38.2%	-5,9 k €	-154%	10,9 k €	-59.2%	26,8 k €
Balance sheet
Equity	192,7 k €	+1.0%	190,8 k €	-39.4%	315,1 k €	+50.2%	209,8 k €	+8.5%	193,5 k €	+240%	57 k €	+174%	20,8 k €	+95.9%	10,6 k €	-12.0%	12,1 k €	-6.2%	12,9 k €	-13.7%	14,9 k €	-66.8%	44,9 k €	-11.6%	50,8 k €	+27.5%	39,8 k €
Total assets	1,1 M €	+16.9%	900,2 k €	+0.2%	898,3 k €	+3.0%	872,5 k €	+62.8%	536 k €	+18.2%	453,4 k €	+1409%	30 k €	+174%	11 k €	-11.6%	12,4 k €	-66.7%	37,3 k €	-40.5%	62,6 k €	-16.4%	74,9 k €	-11.7%	84,8 k €	+19.3%	71,1 k €
Cash	159,2 k €	-24.7%	211,5 k €	-31.3%	307,8 k €	+84.4%	166,9 k €	+12.9%	147,8 k €	+977%	13,7 k €	+5687%	237,2 €	-97.6%	10 k €	-12.9%	11,5 k €	-69.2%	37,2 k €	-40.3%	62,4 k €	+8.5%	57,5 k €	+4.4%	55,1 k €	+2.8%	53,6 k €
Debts	859,2 k €	+21.1%	709,4 k €	+21.6%	583,1 k €	+1.5%	574,4 k €	+75.9%	326,5 k €	-12.3%	372,4 k €	+3932%	9,2 k €	+2558%	347,5 €	0.0%	347,5 €	-98.6%	24,4 k €	-48.9%	47,7 k €	+58.9%	30 k €	-11.8%	34,1 k €	+8.8%	31,3 k €
Other
Workforce	–		–		4,4 ETP	+214%	1,4 ETP	+7.7%	1,3 ETP		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Ben Thijsen

Director

Active

Ended mandates

Ben Thijsen

Director · since 24 juin 2019

Ended

Ivo Westhovens

Administrator - manager

Ended

Ivo Westhovens

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Green Energy Dynamics 6● Active	0521.883.457
IRIS BOUW● Active	0549.966.739

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Abridged model	Abridged model	Abridged model	Micro 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	27/08/2026	26/09/2025	23/09/2024	09/10/2023	02/12/2022	14/08/2021
General meeting	09/06/2026	10/06/2025	11/06/2024	13/06/2023	14/06/2022	08/06/2021
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

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	09/06/2026	27/08/2026	Dutch	PDF
Micro model	31/12/2024	10/06/2025	26/09/2025	Dutch	PDF
Abridged model	31/12/2023	11/06/2024	23/09/2024	Dutch	PDF
Abridged model	31/12/2022	13/06/2023	09/10/2023	Dutch	PDF
Abridged model	31/12/2021	14/06/2022	02/12/2022	Dutch	PDF
Micro model	31/12/2020	08/06/2021	14/08/2021	Dutch	PDF
Micro model	31/12/2019	09/06/2020	26/11/2020	Dutch	PDF
Micro model	31/12/2018	11/06/2019	20/08/2019	Dutch	PDF
Micro model	31/12/2017	12/06/2018	15/08/2018	Dutch	PDF
Micro model	31/12/2016	13/06/2017	21/08/2017	Dutch	PDF
Abridged model	31/12/2015	14/06/2016	10/08/2016	Dutch	PDF
Abridged model	31/12/2014	09/06/2015	12/08/2015	Dutch	PDF
Abridged model	31/12/2013	10/06/2014	14/08/2014	Dutch	PDF
Abridged model	31/12/2012	11/06/2013	09/08/2013	Dutch	PDF

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.

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 · 3 ended

Active mandates

Ben Thijsen

Director

Active

Ended mandates

Ben Thijsen

Director · since 24 juin 2019

Ended

Ivo Westhovens

Administrator - manager

Ended

Ivo Westhovens

Manager

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates16/09/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - BENAMING - DOEL - ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/07/2019
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Other12/04/2012
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 202538,1 k €↑
2024
Annual accounts 2024-124,3 k €↓
2023
Annual accounts 2023105,3 k €↑
2023
Name changeR.A.S.
2022
Annual accounts 202286,4 k €↓
2021
Annual accounts 2021136,5 k €↑
2021
Name changeRAS
2020
Annual accounts 202036,2 k €↑
2019
Annual accounts 201910,2 k €↑
2018
Annual accounts 2018-1,4 k €↓
2017
Annual accounts 2017-794,1 €↑
2016
Annual accounts 2016-2 k €↑
2015
Annual accounts 2015-8,1 k €↓
2014
Annual accounts 2014-5,9 k €↓
2013
Annual accounts 201310,9 k €↓
2012
Annual accounts 201226,8 k €
28/03/2012
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

RAS

Overview

What does RAS do?

Trend over 14 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