Ets REFRICAR
ActiveEts REFRICAR has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €237k and a net result of €142k. Equity is growing by ~19.7% per year across the filed fiscal years. Its solvency ranks better than 30% of 309 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
81
/ 100
Excellent= vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency46▲+1
Growth78=
Stability100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19k at 30 days acceptable
Liquidity tight (current ratio 1.27 against 1.25 in 2024), and 73.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
26.1%
Return on assets
15.6%
Age of the figures
8 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-05-2026, 71 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
71 d early
2024
16 d early
2023
77 d early
2022
14 d early
2021
12 d early
2020
18 d early
2019
22 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€142k▲ 232%
2024 · €43k
2018: €16k
2020: €14k
2021: €17k
2022: €23k
2023: €22k
2024: €43k
2018 → 2025
Working capital
€175k▲ 32.5%
2024 · €132k
2018: €106k
2020: €43k
2021: €56k
2022: €64k
2023: €90k
2024: €132k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€108k-€131k▲ 20.8%€153k▲ 17.0%€195k▲ 27.9%€237k▲ 21.4%
Operating result€38k-€43k▲ 12.0%€59k▲ 38.3%€77k▲ 29.8%€209k▲ 173%
Net result€17k-€23k▲ 31.3%€22k▼ 1.0%€43k▲ 91.0%€142k▲ 232%
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 173% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €907k
Fixed assets
€83k▼ 17.5%
Current assets
€824k▲ 26.4%
Equity and liabilities €907k
Equity
€237k▲ 21.4%
Provisions
€10k=
Debt
€660k▲ 20.7%
The debt ratio rises from 72.7% to 72.8%: debt grows faster than equity.
Key figures and ratios
EBITDA
€237k▲
2024 · €102k
Cash flow
€170k▲
2024 · €68k
Solvency
26.1%▲
2024 · 26.0%
Current ratio
1.27▲
2024 · 1.25
Quick ratio
0.74▲
2024 · 0.69
Debt / equity
2.79▼
2024 · 2.80
ROE
59.8%▲
2024 · 21.8%
ROA
15.6%▲
2024 · 5.7%
Interest coverage
15.92▲
2024 · 5.33
Debt
€660k▲
2024 · €547k
Debt ≤ 1 year
€649k▲
2024 · €520k
Debt > 1 year
€11k▼
2024 · €26k
Income taxes
€52k▲
2024 · €15k
Staff costs
€329k▲
2024 · €310k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€752k€907k▲
Fixed assets21/28€100k€83k▼
Tangible fixed assets22/27€100k€83k▼
Plant, machinery and equipment23€31k€22k▼
Furniture and vehicles24€13k€11k▼
Other tangible fixed assets26€57k€49k▼
Financial fixed assets28€50€50=
Current assets29/58€652k€824k▲
Stocks and contracts in progress3€295k€342k▲
Stocks30/36€295k€342k▲
Amounts receivable within one year40/41€290k€323k▲
Trade receivables40€287k€301k▲
Other amounts receivable41€3k€23k▲
Cash at bank and in hand54/58€56k€147k▲
Deferred charges and accrued income490/1€10k€12k▲
Equity and liabilities
Total equity and liabilities10/49€752k€907k▲
Equity10/15€195k€237k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€133k€175k▲
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€127k€169k▲
Profit (loss) carried forward14€642€365▼
Provisions and deferred taxes16€10k€10k=
Provisions for liabilities and charges160/5€10k€10k=
Other liabilities and charges164/5€10k€10k=
Amounts payable17/49€547k€660k▲
Amounts payable after more than one year17€26k€11k▼
Financial debts170/4€26k€11k▼
Amounts payable within one year42/48€520k€649k▲
Current portion of amounts payable after more than one year42€19k€16k▼
Financial debts43€250k€200k▼
Credit institutions430/8€250k€200k▼
Trade debts44€198k€275k▲
Suppliers440/4€198k€275k▲
Taxes, remuneration and social security45€53k€58k▲
Taxes450/3€22k€24k▲
Remuneration and social security454/9€31k€34k▲
Other amounts payable47/48-€101k
Accrued charges and deferred income492/3€813€234▼
Income statement
Code20242025
Remuneration, social security and pensions62€310k€329k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€26k€28k▲
Other operating charges640/8€6k€13k▲
Gross operating margin9900€419k€578k▲
Operating profit (loss)9901€77k€209k▲
Financial income75/76B€571€42▼
Recurring financial income75€571€42▼
Financial charges65/66B€19k€15k▼
Recurring financial charges65€19k€15k▼
Profit (loss) for the period before taxes9903€58k€194k▲
Income taxes67/77€15k€52k▲
Profit (loss) for the period9904€43k€142k▲
Profit (loss) for the period to be appropriated9905€43k€142k▲
Appropriation of the result
Profit (loss) to be appropriated9906€44k€142k▲
Profit (loss) brought forward from the previous period14P€1k€642▼
Transfer to equity691/2€43k€42k▼
To other reserves6921€43k€42k▼
Profit to be distributed694/7-€100k
Return on contributions (dividend)694-€100k
Social balance
Average headcount (FTE)90875.46.0▲
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
21-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €142k ▲232%
Operating result €209k, net result €142k, both a record.
31-12
Financial
Equity above €200kEq €237k ▲21.4%
7 profitable years in a row build equity to €237k.
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
15-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €150kEq €153k ▲17%
5 profitable years in a row build equity to €153k.
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €100kEq €108k ▲18.7%
3 profitable years in a row build equity to €108k.
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet €14k ▼15.1%
Net result drops to €14k, the lowest in the series; recovery starts the following year.
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
14-03
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
17-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
11-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Herstal · 1 establishment unit since 1993
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue de l'Abbaye 1404040 HerstalGround area
2,638 m²
Building footprint
708 m²
Volume, LiDAR
4,476 m³
Parcel 62312B0024/00B007, Wallonia · tallest building 7.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue de l'Abbaye 140, 4040 Herstal
since 19932.063.338.468
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62312B0024/00B007 | Wallonia | 2,638 m² | 1 · 708 m² | 7.4 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Peer · Eq €232k
Of 462 companies in sector 28250 we hold annual accounts for 284. 221 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded08-06-1993
Fiscal year end31-12
Activities, NACEBEL
28250Manufacture of machinery and equipment not elsewhere classified
29230
33110Repair and maintenance of fabricated metal products
34201
Sources
Crossroads Bank for EnterprisesNational Bank · 33 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.