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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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 41 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
19 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
RAILTRAXX from Antwerpen, company number BE0864046405, closed financial year 2025 with a result of € -5 million after tax. For that financial year RAILTRAXX recorded revenue of € 33.2 million and equity of € -10.3 million. Compared with financial year 2024, the result moved from € -5.1 million to € -5 million. 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 July 1, 2026.
€ -10.3 million
▼ € 3.7 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -5 million
▲ 3 % less loss than in 2024
Profit after tax over the fiscal year.
€ 1.6 million
▲ 62% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -19.2 million.
People and assets in 2025
105.9
▲ 0.4 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 13.2 million
▲ 1% vs 2024
€ 124,600 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.
€ 1.2 million
▲ 35% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 13.2 million
Loans from banks and other lenders, long and short.
€ 5 million
▼ 35% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 72 days on average.
€ 2.9 million
▼ 2% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 50,630,947 | € 38,469,398 | € 36,783,026 | € 33,238,223 | ▼ 10% |
| Profit after taxes | € -8,521,698 | € -689,841 | € -5,107,172 | € -4,977,966 | ▲ € 129,206 |
| Equity | € -755,107 | € -1,444,947 | € -6,552,119 | € -10,300,085 | ▼ € 3.7 million |
| Total debts | € 11,522,871 | € 11,184,580 | € 17,495,327 | € 21,094,821 | ▲ 21% |
| Cash | € 768,158 | € 635,521 | € 1,001,803 | € 1,622,962 | ▲ 62% |
| Land & buildings | € 216,615 | € 344,606 | € 298,879 | € 132,411 | ▼ 56% |
| Retained profit | € -8,396,647 | € -9,086,487 | € -14,193,659 | € -19,171,625 | ▼ € 5 million |
| Bank debt | € 643,750 | € 643,750 | € 0 | € 13,232,711 | |
| Balance sheet total | € 11,016,764 | € 9,739,633 | € 10,943,208 | € 10,794,736 | ▼ 1% |
| Employees (FTE) | 103.2 | 109.3 | 105.5 | 105.9 | ▲ 0.4 |
Key figures of RAILTRAXX, 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 RAILTRAXX?
What happened at RAILTRAXX in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Rail Lab BV stepped down as director. NBB
- Thomas Kratzer stepped down as director. NBB
- Nicolas Gindt stepped down as director. NBB
- Charles Carrelet De Loisy stepped down as director. NBB
- Casimir Naywosz Paszkiewicz stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 5 million. Source: NBB ↗
- Rail Lab BV became a director. NBB
- Thomas Kratzer became a director. NBB
In short
From € 8.5 million loss in 2022 to € 5 million loss in 2025.
Paid € 129,303 in corporate taxes since 2022.
Pays suppliers within 72 days on average.
A new publication or filing at RAILTRAXX? We notify you, reason included.
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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
The shares are held by Captrain Holding (509 270 138) (100%).
Directors
According to the 2025 annual accounts
Charles Carrelet De Loisy
Director
since 2022 · until 2028
Director · represented by Pieter Vanovermeire
since 2025 · until 2031
Nicolas Gindt
Director
since 2024 · until 2030
Casimir Naywosz Paszkiewicz
Director
since 2022 · until 2028
Thomas Kratzer
Director
since 2025 · until 2031
Shareholders
Captrain Holding (509 270 138)
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rijnkaai 100 box A13
2000 Antwerpen
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 19 companies are registered at this address.
All companies at this address →LDV/United
€ 5.9 million revenue · 2025
ANTWERPSE TELEVISIE (A.T.V.)
€ 1.1 million gross margin · 2025
ESPRIT BELGIE WHOLESALE
€ 10.5 million revenue · 2022
EGALITE SHIPPING
€ 393,986 gross margin · 2025
Wildstream Ventures
€ 111,782 gross margin · 2025
+14 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0864.046.405
- VAT number
- BE 0864.046.405
- Registered office
- Rijnkaai 100 bus A13, 2000 Antwerpen
- Names & denominations
- RAILTRAXX
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 15 March 2004
- Peppol
- Active · Active since 3 Mar 2026
- Activities · NACE
Goederenvervoer per spoor
Handelsbemiddeling in de groothandel in voedings- en genotmiddelen
Handelsbemiddeling in voedings- en genotmiddelen