Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 36.7 to 26.4.
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Busy address KBO
119 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
RAILNOVA from Sint-Gillis (bij-Brussel), company number BE0830364144, closed financial year 2025 with a result of € 1.5 million after tax. For that financial year RAILNOVA recorded a gross margin of € 6.3 million and equity of € 6.9 million. Compared with financial year 2024, the result moved from € 1.3 million to € 1.5 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 27, 2026.
€ 6.9 million
▲ 1% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 1.5 million
▲ 19% vs 2024
Profit after tax over the fiscal year.
€ 4 million
▲ 124% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 1.4 million paid out
94 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
26.4
▼ 2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 3.1 million
▼ 3% vs 2024
€ 117,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 174,872
▼ 11% vs 2024
Of which on lease € 154,849.
Debts at end 2025
€ 84,224
▼ 35% vs 2024
€ 48,361 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 381,055
▲ 64% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 294,112
▲ 1% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 4,473,422 | € 5,435,698 | € 6,138,290 | € 6,301,446 | ▲ 3% |
| Profit after taxes | € -87,672 | € 840,292 | € 1,264,391 | € 1,506,046 | ▲ 19% |
| Equity | € 4,664,653 | € 5,504,945 | € 6,769,336 | € 6,859,382 | ▲ 1% |
| Total debts | € 1,181,598 | € 1,131,354 | € 1,100,879 | € 2,585,680 | ▲ 135% |
| Cash | € 1,306,246 | € 1,669,963 | € 1,795,609 | € 4,015,255 | ▲ 124% |
| Retained profit | € 1,523,513 | € 2,363,805 | € 3,628,196 | € 3,718,241 | ▲ 2% |
| Dividend | € 0 | € 0 | € 0 | € 1,416,000 | |
| Bank debt | € 361,830 | € 176,373 | € 130,296 | € 84,224 | ▼ 35% |
| Balance sheet total | € 6,181,416 | € 6,889,720 | € 8,084,050 | € 9,597,774 | ▲ 19% |
| Employees (FTE) | 44.3 | 36.7 | 28.4 | 26.4 | ▼ 2 |
Key figures of RAILNOVA, 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 RAILNOVA?
What happened at RAILNOVA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Satheeskaran NAVARATNAM stepped down as director. NBB
- Martin ERTL stepped down as director. NBB
- Faridh MORALES stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 1.5 million (▲ 19% vs 2024). Source: NBB ↗
- Meike VAN'T HOEN stepped down as director. NBB
- Satheeskaran NAVARATNAM became a director. NBB
- Martin ERTL became a director. NBB
- Martina Sophie DOMANI stepped down as director. NBB
In short
From € 87,672 loss in 2022 to € 1.5 million profit in 2025.
Best year ever: 2025, with € 1.5 million profit.
On average € 238,700 of value added per employee in 2025.
Paid out € 1.4 million 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
Directors
According to the 2025 annual accounts
Managing director · represented by Christian SPRAUER
since 2022 · until 2025
Meike VAN'T HOEN
Director
since 2024 · until 2026
Satheeskaran NAVARATNAM
Director
since 2026 · until 2032
Martin ERTL
Director
since 2026 · until 2032
Martina Sophie DOMANI
Director
since 2024 · until 2026
Faridh MORALES
Director
since 2026 · until 2032
Establishments
Establishment units
Physical locations of this company
Emile Feronstraat 153
1060 Sint-Gillis (bij-Brussel)
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 119 companies are registered at this address.
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€ 59,020 revenue · 2025
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€ 9,424 revenue · 2025
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€ 212,866 revenue · 2025
BRUXELLES ACCUEIL ET DEVELOPPEMENT POUR LA JEUNESSE ET L'ENFANCE
€ 1.2 million gross margin · 2024
+114 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Google Workspace
Hosting
GOOGLE-CLOUD-PLATFORM - Google LLC, US
DNS
AWS Route 53
Domain
Domain
railnova.eu
Registrar
GoDaddy.com, LLC
Website info
Features
Security
Details
- Company number
- 0830.364.144
- VAT number
- BE 0830.364.144
- Registered office
- Emile Feronstraat 153, 1060 Sint-Gillis (bij-Brussel)
- Names & denominations
- RAILNOVA
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 18 October 2010
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- railnova.eu
- Activities · NACE
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