ACTIVE

RAFAR

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Financial year 2025 · closed on 31/12/2025

Net result

-47,4 k €

-376.0% YoY

Gross margin

-20,2 k €

-248.0% YoY

Equity

1,2 M €

-3.7% YoY

What does RAFAR do?

RAFAR is a Private limited company incorporated in 2004. Its main activity is: Dispensing chemist in specialised stores. Its registered office is in Chimay.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0866.855.049

Incorporation

19/08/2004

Legal form

Private limited company

Registered office

Place Froissart(CH) 10
6460 Chimay · WallonieSee on map

Contributed capital

12 500,00 €

Latest accounts

31/12/2025

Activities (NACE)

47730Dispensing chemist in specialised stores· main 47730Dispensing chemist in specialised stores 52310Warehousing and support activities for transportation

Signals

Solid equityLow riskGood liquidity

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	-20,2 k €	-248%	-5,8 k €	-108%	75 k €	+17.6%	63,8 k €	-43.6%	113,1 k €	-2.3%	115,8 k €	-3.5%	120 k €	+3.1%	116,4 k €	-0.5%	117 k €	+1.0%	115,9 k €	+1.5%	114,2 k €	+1.8%	112,3 k €	+0.1%	112,1 k €	-0.3%	112,5 k €	+7.4%	104,7 k €	+14.3%	91,6 k €	-4.5%	96 k €	-2.7%	98,6 k €
EBITDA	-42,4 k €	-308%	-10,4 k €	-115%	68,4 k €	+15.1%	59,4 k €	-45.6%	109,1 k €	-2.4%	111,9 k €	-3.7%	116,1 k €	+4.0%	111,6 k €	-1.4%	113,2 k €	+0.9%	112,2 k €	+1.5%	110,5 k €	+1.8%	108,6 k €	+0.1%	108,5 k €	-0.4%	109 k €	+7.2%	101,6 k €	+13.9%	89,2 k €	-4.7%	93,6 k €	-2.8%	96,3 k €
Operating result	-63,2 k €	-120%	-28,8 k €	-161%	47,3 k €	+23.4%	38,3 k €	-56.5%	88,1 k €	-3.0%	90,8 k €	-4.5%	95,1 k €	+5.0%	90,6 k €	-1.7%	92,2 k €	+1.2%	91,1 k €	+1.8%	89,5 k €	+2.2%	87,5 k €	+0.1%	87,5 k €	-0.5%	87,9 k €	+16.3%	75,6 k €	-7.0%	81,2 k €	-5.0%	85,5 k €	-3.0%	88,2 k €
Net result	-47,4 k €	-376%	17,2 k €	-33.2%	25,7 k €	+33.2%	19,3 k €	-63.4%	52,8 k €	-2.4%	54 k €	-43.2%	95,1 k €	+19.8%	79,3 k €	-24.9%	105,6 k €	+2.7%	102,8 k €	+2.0%	100,8 k €	+16.9%	86,2 k €	+352%	19,1 k €	-73.5%	72 k €	+1.6%	70,8 k €	-10.3%	79 k €	+2.1%	77,4 k €	+8.3%	71,4 k €
Balance sheet
Equity	1,2 M €	-3.7%	1,3 M €	+1.3%	1,3 M €	+2.1%	1,3 M €	+1.6%	1,2 M €	+2.7%	1,2 M €	+4.7%	1,1 M €	+9.0%	1,1 M €	+8.2%	971,2 k €	+12.2%	865,5 k €	+13.5%	762,7 k €	+15.2%	661,9 k €	+15.0%	575,7 k €	+3.4%	556,6 k €	+14.9%	484,6 k €	+17.1%	413,8 k €	+23.6%	334,8 k €	+30.1%	257,4 k €
Total assets	1,4 M €	-5.4%	1,5 M €	-1.3%	1,5 M €	-0.3%	1,5 M €	-2.4%	1,5 M €	+0.4%	1,5 M €	-1.5%	1,6 M €	-0.9%	1,6 M €	-2.3%	1,6 M €	-1.5%	1,6 M €	+0.5%	1,6 M €	-1.3%	1,6 M €	-0.7%	1,7 M €	-4.4%	1,7 M €	-1.5%	1,8 M €	+26.1%	1,4 M €	-0.3%	1,4 M €	+0.3%	1,4 M €
Cash	227,7 k €	-6.6%	243,8 k €	-63.2%	662,9 k €	+1494%	41,6 k €	-29.6%	59,1 k €	+93.9%	30,5 k €	+5.0%	29 k €	+68.2%	17,2 k €	-13.2%	19,9 k €	+49.7%	13,3 k €	-2.6%	13,6 k €	-36.1%	21,3 k €	+91.2%	11,2 k €	-82.4%	63,5 k €	-11.9%	72,1 k €	+34.6%	53,6 k €	+11.4%	48,1 k €	+52.7%	31,5 k €
Debts	148,1 k €	-18.0%	180,7 k €	-16.7%	216,9 k €	-12.2%	247,1 k €	-18.4%	302,8 k €	-7.9%	328,9 k €	-19.1%	406,6 k €	-21.1%	515,5 k €	-18.4%	632,1 k €	-17.2%	762,9 k €	-11.1%	857,9 k €	-12.5%	980,4 k €	-9.1%	1,1 M €	-8.1%	1,2 M €	-7.8%	1,3 M €	+29.9%	979,5 k €	-7.8%	1,1 M €	-6.4%	1,1 M €

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 · 1 active · 1 ended

Active mandates

Raphaël FRANCOIS

Director

Active

Ended mandates

Raphaël FRANCOIS

Mandate

Ended

At this address

Other companies at this address

Company	CBE no.
LUMINA INVEST● Active	1013.623.373
Sideco● Active	0401.735.594

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro 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	15/07/2026	24/09/2025	24/06/2024	27/06/2023	21/06/2022	21/07/2021
General meeting	14/07/2026	23/09/2025	27/05/2024	29/05/2023	14/06/2022	31/05/2021
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

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	14/07/2026	15/07/2026	French	PDF
Micro model	31/12/2024	23/09/2025	24/09/2025	French	PDF
Micro model	31/12/2023	27/05/2024	24/06/2024	French	PDF
Micro model	31/12/2022	29/05/2023	27/06/2023	French	PDF
Micro model	31/12/2021	14/06/2022	21/06/2022	French	PDF
Micro model	31/12/2020	31/05/2021	21/07/2021	French	PDF
Micro model	31/12/2019	15/06/2020	11/07/2020	French	PDF
Micro model	31/12/2018	27/05/2019	22/07/2019	French	PDF
Micro model	31/12/2017	18/06/2018	17/08/2018	French	PDF
Micro model	31/12/2016	19/06/2017	25/07/2017	French	PDF
Abridged model	31/12/2015	20/06/2016	19/08/2016	French	PDF
Abridged model	31/12/2014	15/06/2015	26/08/2015	French	PDF
Abridged model	31/12/2013	16/06/2014	23/08/2014	French	PDF
Abridged model	31/12/2012	15/06/2013	28/08/2013	French	PDF
Abridged model	31/12/2011	28/05/2012	27/08/2012	French	PDF
Abridged model	31/12/2010	30/05/2011	30/08/2011	French	PDF
Abridged model	31/12/2009	16/06/2010	26/08/2010	French	PDF
Abridged model	31/12/2008	15/06/2009	18/08/2009	French	PDF
Abridged model	31/12/2007	26/05/2008	10/07/2008	French	PDF
Abridged model	31/12/2006	28/05/2007	30/08/2007	French	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 · 1 active · 1 ended

Active mandates

Raphaël FRANCOIS

Director

Active

Ended mandates

Raphaël FRANCOIS

Mandate

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates27/12/2023
MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS
PDF
Other27/08/2004
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025-47,4 k €↓
2024
Annual accounts 202417,2 k €↓
2023
Annual accounts 202325,7 k €↑
2022
Annual accounts 202219,3 k €↓
2021
Annual accounts 202152,8 k €↓
2020
Annual accounts 202054 k €↓
2019
Annual accounts 201995,1 k €↑
2018
Annual accounts 201879,3 k €↓
2017
Annual accounts 2017105,6 k €↑
2016
Annual accounts 2016102,8 k €↑
2015
Annual accounts 2015100,8 k €↑
2014
Annual accounts 201486,2 k €↑
2013
Annual accounts 201319,1 k €↓
2012
Annual accounts 201272 k €↑
2011
Annual accounts 201170,8 k €↓
2010
Annual accounts 201079 k €↑
2009
Annual accounts 200977,4 k €↑
2008
Annual accounts 200871,4 k €
19/08/2004
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

RAFAR

Overview

What does RAFAR do?

Trend over 18 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