Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 38 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Z-frame systems from Burg-Reuland, company number BE0793287477, closed financial year 2025 with a result of € 182,688 after tax. For that financial year Z-frame systems recorded a gross margin of € 278,746 and equity of € 260,692. Compared with financial year 2024, the result moved from € -14,527 to € 182,688. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on August 25, 2026.
€ 260,692
▲ 234% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 182,688
▲ still € 14,527 loss in 2024
Profit after tax over the fiscal year.
€ 21,125
▲ 79% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 160,692.
People and assets in 2025
€ 23,838
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 1,841
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 672,695
▲ 19% vs 2024
€ 24,340 is repaid this year. At this pace the long-term loan is gone in ≈ 28 years.
€ 412,279
▲ € 361,490 vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 5,166
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Gross margin | € -2,093 | € -4,845 | € 278,746 | ▲ € 283,591 |
| Profit after taxes | € -7,469 | € -14,527 | € 182,688 | ▲ € 197,215 |
| Equity | € 92,531 | € 78,004 | € 260,692 | ▲ 234% |
| Total debts | € 50,485 | € 622,993 | € 1,102,728 | ▲ 77% |
| Cash | € 12,176 | € 11,792 | € 21,125 | ▲ 79% |
| Land & buildings | € 118,753 | € 636,192 | € 733,395 | ▲ 15% |
| Retained profit | € -7,469 | € -21,996 | € 160,692 | ▲ € 182,688 |
| Bank debt | € 50,000 | € 566,029 | € 672,695 | ▲ 19% |
| Balance sheet total | € 143,017 | € 700,997 | € 1,363,420 | ▲ 94% |
Key figures of Z-frame systems, fiscal years 2023 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 Z-frame systems?
What happened at Z-frame systems in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 182,688. filed late Source: NBB ↗
- New establishment in Burg-Reuland. KBO
- Start of the company according to the CBE. KBO
- New establishment in Burg-Reuland. KBO
- Luca Rauw became a director. NBB
- Bruno Rauw became a director. NBB
In short
From € 7,469 loss in 2023 to € 182,688 profit in 2025.
Paid € 26,413 in corporate taxes since 2023.
Best year ever: 2025, with € 182,688 profit.
Management
Behind Z-frame systems are Luca Rauw and Bruno Rauw.
Directors
According to the 2025 annual accounts
Luca Rauw
Director
since 2022
Bruno Rauw
Director
since 2022
Establishments
Establishment units
Physical locations of this company
Auf Thommelt, Dürler 22
4790 Burg-Reuland
Gewerbezone Schirm, Grüfflingen 8
4790 Burg-Reuland
Active since 15 August 2025
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0793.287.477
- VAT number
- BE 0793.287.477
- Registered office
- Auf Thommelt, Dürler 22, 4790 Burg-Reuland
- Names & denominations
- Z-frame systems
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 4 November 2022
- Peppol
- Active · Active since 8 Dec 2025
- Activities · NACE
Vervaardiging van metalen deuren en vensters
Vervaardiging van kunststofartikelen voor de bouw
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Algemene bouw van residentiële gebouwen
Schrijnwerk