Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
-
Tight liquidity NBB
Cash and receivables cover 57 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ETHEL DRUART RAY from Namur, company number BE0792372214, closed financial year 2025 with a result of € -9,605 after tax. For that financial year ETHEL DRUART RAY recorded a gross margin of € -6,604 and equity of € -11,586. Compared with financial year 2024, the result moved from € 3,600 to € -9,605. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 29, 2026.
€ -11,586
▼ € 9,605 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -9,605
▼ still € 3,600 profit in 2024
Profit after tax over the fiscal year.
€ 7,123
▲ 240% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -13,586.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
Debts at end 2025
€ 10,000
Loans from banks and other lenders, long and short.
€ 1,090
Supplier invoices still open on the last day of the fiscal year.
€ 5,522
▲ 59% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 21,358 | € -6,451 | € 6,270 | € -6,604 | ▼ € 12,874 |
| Profit after taxes | € 21,105 | € -7,580 | € 3,600 | € -9,605 | ▼ € 13,205 |
| Equity | € 2,000 | € -5,580 | € -1,980 | € -11,586 | ▼ € 9,605 |
| Total debts | € 25,673 | € 17,572 | € 15,023 | € 25,109 | ▲ 67% |
| Cash | € 17,448 | € 1,482 | € 2,094 | € 7,123 | ▲ 240% |
| Retained profit | € 0 | € -7,580 | € -3,980 | € -13,586 | ▼ € 9,605 |
| Dividend | € 21,105 | € 0 | € 0 | € 0 | |
| Bank debt | € 0 | € 10,000 | € 10,000 | € 10,000 | |
| Balance sheet total | € 27,673 | € 11,992 | € 13,042 | € 13,523 | ▲ 4% |
Key figures of ETHEL DRUART RAY, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ETHEL DRUART RAY?
What happened at ETHEL DRUART RAY in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 9,605 (▼ € 13,205 vs 2024). filed late Source: NBB ↗
- New establishment in Namur. KBO
- Ethel Druart became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 21,105 profit in 2022 to € 9,605 loss in 2025.
Paid € 1,352 in corporate taxes since 2022.
Best year ever: 2022, with € 21,105 profit.
Paid out € 21,105 in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind ETHEL DRUART RAY is Ethel Druart.
Directors
According to the 2025 annual accounts
Ethel Druart
Administrator-manager
since 2022
Establishments
Establishment units
Physical locations of this company
Chemin du Grand Ry(WP) 67
5100 Namur
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0792.372.214
- VAT number
- BE 0792.372.214
- Registered office
- Chemin du Grand Ry(WP) 67, 5100 Namur
- Names & denominations
- ETHEL DRUART RAY · EDRM
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 12 October 2022
- Peppol
- Active · Active since 23 Dec 2025
- Activities · NACE
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