Protex
ActiveSummary
Protex has been active since 2004 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €503,286 and a net result of €11,558. Equity has been growing by about 8.1% per year since 2018. Its solvency ranks better than 43% of 2,445 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 24-11-2004 Normal situation
- Activity
- General electrical installation work NACE 43211and 1 other
- Joint committees
- 200 Aanvullend Paritair Comité voor de bedienden
- 149.01 Paritair Subcomité voor de elektriciens: installatie en distributie · annual accounts 2025
- Establishment unit
- 2.143.574.393 4040 Herstal, since 24-11-2004
- Financial year end
- 31 December
- Peppol
- Reachable since 14-04-2026
Board and ownership
Board
- Cyrielle REUTERManaging director
Shareholders
- D.S.R. INVEST19.75%· score 892025 annual accounts of D.S.R. INVEST
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
Annual accounts 2025
- Gross margin
- €1.5m
- ▲ 7.5%
- Turnover
- ≈ €4.0m
- estimated
- Profit
- €11,558
- ▼ 85.0%
- Equity
- €503,286
- ▲ 2.4%
- Total assets
- €1.3m
- ▲ 1.8%
- Employees on 31-12-2025
- 19
- ▲ 5.6%
Filed on 31-03-2026, 122 days before the deadline
Score breakdownraises risk1 change of registered office in 24 monthsSize: 18.5 FTE, total assets €1.3mlowers riskLiquidity: current ratio 1.29, cash €262,310Figures for financial year 2025 (filed on 02-04-2026)Show the evidence
Checked score
Score 2025
82
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 45% of small companies in specialised construction (NACE 43)
Financial strength · tick: 2024
Average
Solvency
63=
equity 38.0% of total assets
Liquidity
44-12
short-term debt 58.6% · cash 19.8%
Profitability
70-6
return on assets 0.9%
Bankruptcy probability within 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025lowest value
09-2025: 0.1%● unchanged vs 08-2025lowest value
10-2025: 0.1%● unchanged vs 09-2025lowest value
11-2025: 0.1%● unchanged vs 10-2025lowest value
12-2025: 0.1%● unchanged vs 11-2025lowest value
01-2026: 0.1%● unchanged vs 12-2025lowest value
02-2026: 0.1%● unchanged vs 01-2026lowest value
03-2026: 0.1%● unchanged vs 02-2026lowest value
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.2%▲ +0.1 percentage points vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.2%● unchanged vs 07-2026
09-2026: 0.2%● unchanged vs 08-2026
10-2026: 0.4%▲ +0.2 percentage points vs 09-2026highest value
11-2026: 0.4%● unchanged vs 10-2026highest value
Credit of up to €40,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.29 (1.2 in 2024), below the usual 1.5. Short-term debt is 58.6% and cash 19.8% of total assets. 62% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, small). It does better than 50% of them on solvency, 48% on liquidity, 41% on profitability and 40% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 31-03-2026, 122 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
122 days early
2024
14 days early
2023
9 days early
2022
25 days late
2021
48 days early
2020
30 days late
2019
17 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 17 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 July (4 of the last 5 accounts filed within 39 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 31-03-2026 PDF all 21 filings
Turnover
≈ €4.0m
Estimated: probably between €3.1m and €5.0m
EBIT margin
Not included in this filing
Net result
€11,558▼ 85.0%
2024 · €76,907
Working capital
€225,521▲ 48.5%
2024 · €151,844
In the rankings
#8 company by staff growth in Herstal, Construction sector
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 57% lower than in 2024.
Operating result€0.05m
2025
Net result€0.01m
2025
Total assets€1.3m
2025
Equity€0.5m
2025
Debt€0.8m
2025
Working capital€0.2m
2025
Return on assets (ROA)0.9%
2025
Solvency38.0%
2025
Current ratio1.29
2025
Staff (FTE)18.5
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.003m-€0.02m▲ 689%-€0.02m€0.03m€0.02m▼ 11.7%€0.09m▲ 245%€0.1m▲ 47.8%€0.05m▼ 56.6%
Net result€0.004m-€0.01m▲ 165%€0.02mwithin the sector's middle half▲ 87.8%€0.02mwithin the sector's middle half▼ 7.3%€0.02mwithin the sector's middle half▼ 10.5%€0.05mwithin the sector's middle half▲ 194%€0.08mwithin the sector's middle half▲ 47.8%€0.01mwithin the sector's middle half▼ 85.0%
Equity€0.3m-€0.3m▲ 3.7%€0.3mwithin the sector's middle half▲ 6.8%€0.3mwithin the sector's middle half▲ 5.9%€0.4mwithin the sector's middle half▲ 4.9%€0.4mwithin the sector's middle half▲ 14.2%€0.5mwithin the sector's middle half▲ 18.5%€0.5mwithin the sector's middle half▲ 2.4%
Total assets€1.0m-€0.9m▼ 12.1%€1.5mabove the sector's middle half▲ 69.5%€1.3mwithin the sector's middle half▼ 10.0%€1.3mwithin the sector's middle half▼ 0.5%€1.2mwithin the sector's middle half▼ 8.8%€1.3mwithin the sector's middle half▲ 6.6%€1.3mwithin the sector's middle half▲ 1.8%
Debt€0.7m-€0.6m▼ 18.7%€1.2m▲ 103%€1.0m▼ 14.5%€1.0m▼ 2.4%€0.8m▼ 17.3%€0.8m▲ 0.5%€0.8m▲ 1.5%
Working capital€0.2m-€0.2m▼ 15.0%€0.05mwithin the sector's middle half▼ 74.2%€0.07mwithin the sector's middle half▲ 44.6%€0.08mwithin the sector's middle half▲ 15.0%€0.2mwithin the sector's middle half▲ 134%€0.2mwithin the sector's middle half▼ 16.9%€0.2mwithin the sector's middle half▲ 48.5%
Solvency29.5%-34.8%▲ 5.3pp21.9%within the sector's middle half▼ 12.9pp25.8%within the sector's middle half▲ 3.9pp27.2%within the sector's middle half▲ 1.4pp34.0%within the sector's middle half▲ 6.8pp37.8%within the sector's middle half▲ 3.8pp38.0%within the sector's middle half▲ 0.2pp
Current ratio1.39-1.36▼ 0.031.06below the sector's middle half▼ 0.301.09below the sector's middle half▲ 0.031.10below the sector's middle half▲ 0.011.27within the sector's middle half▲ 0.161.20within the sector's middle half▼ 0.061.29within the sector's middle half▲ 0.09
Return on assets (ROA)0.4%-1.3%▲ 0.9pp1.4%within the sector's middle half▲ 0.1pp1.5%within the sector's middle half=1.3%within the sector's middle half▼ 0.1pp4.3%within the sector's middle half▲ 2.9pp5.9%within the sector's middle half▲ 1.6pp0.9%within the sector's middle half▼ 5.0pp
Staff (FTE)13.2-13.3▲ 0.8%14.3within the sector's middle half▲ 7.5%16.2within the sector's middle half▲ 13.3%15.7within the sector's middle half▼ 3.1%16.2within the sector's middle half▲ 3.2%16.5within the sector's middle half▲ 1.9%18.5within the sector's middle half▲ 12.1%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€322,548 ▼ 20.2%
Current assets
€1.0m ▲ 11.8%
Equity and liabilities €1.3m
Equity
€503,286 ▲ 2.4%
Debt
€821,588 ▲ 1.5%
Debt's share of the balance-sheet total falls from 62.2% to 62.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€195,133▼
2024 · €272,938
Cash flow
€152,043▼
2024 · €223,821
Quick ratio
1.11▼
2024 · 1.12
Debt to equity
1.63▼
2024 · 1.65
ROE
2.3%▼
2024 · 15.6%
Interest coverage
9.68▼
2024 · 16.05
Debt ≤ 1 year
€776,805▲
2024 · €745,012
Debt > 1 year
€32,765▼
2024 · €58,217
Income taxes
€38,168▼
2024 · €42,849
Staff costs
€1.2m▲
2024 · €1.1m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 17 | 17 | 15 | 18 | 19 |
| full-time | 14 | 16 | 15 | 18 | 19 |
| part-time | 3 | 1 | - | - | - |
| in full-time equivalents | 15.6 | 16.8 | 15 | 18 | 19 |
| Average over the year, in full-time equivalents | 16.2 | 15.7 | 16.2 | 16.5 | 18.5 |
| On a permanent contract | 15 | 17 | 15 | 17 | 19 |
| Joined | - | 9 | 5 | 5 | 3 |
| Left | - | 10 | 7 | 2 | 1 |
| Training hours | - | - | - | 211 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €211,511 | €151,300 | €164,223 | - | €72,381 |
| Pledge on the business | €267,000 | €267,000 | €267,000 | €267,000 | €267,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €23,765 | €104,417 | €54,060 | €64,712 | €121,107 |
| Intangible fixed assets | €67,208 | €45,947 | - | - | €3,621 |
| Financial fixed assets | - | - | €684 | €64,425 | - |
| Depreciation and write-downs of the year | €163,075 | €184,433 | €197,142 | €146,913 | €140,485 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as Protex: general electrical installation work (NACE 43211). They are comparable in size and age: total assets between €1.2m and €1.8m, founded between 2001 and 2006.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| Protex Herstal | 2004 | €1.3m | €0.5m | €1.5m | €0.01m | 18.5 | 2025 |
| ELECTRO IHSAN & NIHAT Brussel | 2004 | €1.6m | €0.5m | €1.3m | €0.05m | 18 | 2025 |
| MORLITERM Veurne | 2006 | €1.4m | €1.2m | €1.7m | €0.4m | 15.8 | 2025 |
| SECURITY ALARM SERVICE COMPANY Lontzen | 2004 | €1.2m | €0.8m | €2.0m | €0.8m | 17 | 2025 |
| AUTOMATION ET SERVICES Blégny | 2006 | €1.3m | €0.4m | €1.0m | €0.03m | 16.3 | 2025 |
| ELECTRICITE ALAIN DELAVIGNETTE Seraing | 2004 | €1.8m | €1.1m | €1.5m | €0.3m | 21.8 | 2025 |
| TSPO Thimister-Clermont | 2001 | €1.4m | €0.6m | €1.9m | €0.4m | 23.4 | 2025 |
They were chosen from the 10,239 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 14,766 companies had the same profile as Protex has now. Two years later, 0.2% had gone bankrupt and 96.2% were still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96.2%
was still going
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Protex itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 14,766 companies, not a prediction for Protex. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.9m | €0.9m | €1.0m | €1.1m | €1.2m | ▲ 17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 4.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.009m | -€0.004m | -€372 | €0.001m | €0.003m | ▲ 216% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.01m | €0.01m | €0.02m | €0.01m | ▼ 45.6% |
| Gross operating margin9900 | €0.8m | €0.8m | €0.7m | €1.1m | €1.1m | €1.3m | €1.4m | €1.5m | ▲ 7.5% |
| Operating profit (loss)9901 | €0.003m | €0.02m | -€0.02m | €0.03m | €0.02m | €0.09m | €0.1m | €0.05m | ▼ 56.6% |
| Financial income75/76B | - | - | - | €0.02m | €0.02m | €0.02m | €0.01m | €0.02m | ▲ 41.9% |
| Recurring financial income75 | €0.02m | €0.01m | €0.05m | €0.02m | €0.02m | €0.02m | €0.01m | €0.02m | ▲ 41.9% |
| Financial charges65/66B | - | - | - | €0.009m | €0.009m | €0.01m | €0.02m | €0.02m | ▲ 18.6% |
| Recurring financial charges65 | €0.006m | €0.005m | €0.006m | €0.009m | €0.009m | €0.01m | €0.02m | €0.02m | ▲ 18.6% |
| Profit (loss) for the period before taxes9903 | €0.02m | €0.03m | €0.03m | €0.04m | €0.04m | €0.09m | €0.1m | €0.05m | ▼ 58.5% |
| Income taxes67/77 | €0.02m | €0.02m | €0.006m | €0.02m | €0.02m | €0.04m | €0.04m | €0.04m | ▼ 10.9% |
| Profit (loss) for the period9904 | €0.004m | €0.01m | €0.02m | €0.02m | €0.02m | €0.05m | €0.08m | €0.01m | ▼ 85.0% |
| Profit (loss) for the period to be appropriated9905 | €0.004m | €0.01m | €0.02m | €0.02m | €0.02m | €0.05m | €0.08m | €0.01m | ▼ 85.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €0.9m | €1.5m | €1.3m | €1.3m | €1.2m | €1.3m | €1.3m | ▲ 1.8% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.6m | €0.5m | €0.5m | €0.4m | €0.4m | €0.3m | ▼ 20.2% |
| Intangible fixed assets21 | €0.03m | - | €0.3m | €0.3m | €0.2m | €0.1m | €0.07m | €0.02m | ▼ 74.2% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | ▼ 4.7% |
| Plant, machinery and equipment23 | - | - | - | - | €0.001m | €0.001m | €0.002m | €0.004m | ▲ 79.9% |
| Furniture and vehicles24 | - | - | - | €0.2m | €0.2m | €0.1m | €0.2m | €0.1m | ▼ 26.5% |
| Other tangible fixed assets26 | - | - | - | €0.05m | €0.05m | €0.07m | €0.1m | €0.1m | ▲ 22.3% |
| Financial fixed assets28 | €0.004m | €0.002m | €297 | €297 | €297 | €0.001m | €0.07m | €0.05m | ▼ 28.8% |
| Current assets29/58 | €0.8m | €0.7m | €0.9m | €0.8m | €0.8m | €0.9m | €0.9m | €1.0m | ▲ 11.8% |
| Stocks and contracts in progress3 | €0.1m | €0.1m | €0.06m | €0.1m | €0.08m | €0.06m | €0.06m | €0.1m | ▲ 130% |
| Stocks30/36 | - | - | - | €0.1m | €0.08m | €0.06m | €0.06m | €0.1m | ▲ 130% |
| Amounts receivable within one year40/41 | €0.4m | €0.4m | €0.6m | €0.4m | €0.4m | €0.4m | €0.5m | €0.6m | ▲ 28.4% |
| Trade receivables40 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 18.1% |
| Other amounts receivable41 | - | - | - | €0.06m | €277 | - | €0.02m | €0.07m | ▲ 281% |
| Cash at bank and in hand54/58 | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 29.6% |
| Deferred charges and accrued income490/1 | - | - | - | €287 | €0.008m | €0.01m | €0.006m | €0.01m | ▲ 131% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €0.9m | €1.5m | €1.3m | €1.3m | €1.2m | €1.3m | €1.3m | ▲ 1.8% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €0.5m | €0.5m | ▲ 2.4% |
| Contributions10/11 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Capital10 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Issued capital100 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Reserves13 | - | - | - | - | - | €0.003m | €0.007m | €0.009m | ▲ 28.6% |
| Non-distributable reserves130/1 | - | - | - | - | - | - | €0.007m | €0.009m | ▲ 28.6% |
| Legal reserve130 | - | - | - | - | - | - | €0.007m | €0.009m | ▲ 28.6% |
| Distributable reserves133 | - | - | - | - | - | €0.003m | - | - | - |
| Profit (loss) carried forward14 | -€0.1m | -€0.1m | -€0.08m | -€0.06m | -€0.04m | €0.007m | €0.08m | €0.09m | ▲ 12.0% |
| Investment grants15 | - | - | - | €0.001m | €0.001m | €52 | - | - | - |
| Amounts payable17/49 | €0.7m | €0.6m | €1.2m | €1.0m | €1.0m | €0.8m | €0.8m | €0.8m | ▲ 1.5% |
| Amounts payable after more than one year17 | €0.08m | €0.07m | €0.3m | €0.2m | €0.2m | €0.1m | €0.06m | €0.03m | ▼ 43.7% |
| Financial debts170/4 | - | - | - | €0.2m | €0.2m | €0.1m | €0.06m | €0.03m | ▼ 43.7% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.8m | €0.7m | €0.8m | €0.7m | €0.7m | €0.8m | ▲ 4.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.05m | ▼ 54.7% |
| Trade debts44 | €0.4m | €0.3m | €0.5m | €0.5m | €0.5m | €0.4m | €0.5m | €0.5m | ▲ 20.0% |
| Suppliers440/4 | - | - | - | €0.5m | €0.5m | €0.4m | €0.5m | €0.5m | ▲ 20.0% |
| Advances received on contracts in progress46 | - | - | - | €0.008m | €0.05m | €0.01m | €0.07m | €0.03m | ▼ 53.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.1m | €0.1m | €0.09m | €0.1m | ▲ 7.0% |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | €0.04m | €0.005m | €0.03m | ▲ 521% |
| Remuneration and social security454/9 | - | - | - | €0.07m | €0.08m | €0.08m | €0.08m | €0.06m | ▼ 23.4% |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.05m | ▲ 231% |
| Accrued charges and deferred income492/3 | - | - | - | - | €105 | €0.006m | €0.006m | €0.01m | ▲ 96.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,290 | €11,350 | €21,310 | €19,752 | €17,680 | €52,039 | €76,907 | €11,558 | ▼ 85.0% |
| + Depreciation and write-downs630 | €112,782 | €110,357 | €97,436 | €163,075 | €184,433 | €197,142 | €146,913 | €140,485 | ▼ 4.4% |
| Operating cash flow (approximation) | €117,072 | €121,707 | €118,746 | €182,827 | €202,113 | €249,181 | €223,821 | €152,043 | ▼ 32.1% |
| Investment in fixed assets (approximation) | - | -€65,908 | -€517,458 | -€75,561 | -€150,363 | -€54,744 | -€200,607 | -€58,805 | ▲ 70.7% |
| Change in cash | - | -€35,979 | -€4,491 | €65,755 | €111,200 | -€10,375 | €5,288 | -€110,417 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-03-2026 | 2026-00070322 | |
| 31-12-2024 | full format | 17-07-2025 | 2025-00294586 | |
| 31-12-2023 | full format | 22-07-2024 | 2024-00278952 | |
| 31-12-2022 | full format | 25-08-2023 | 2023-00363269 | |
| 31-12-2021 | full format | 13-06-2022 | 2022-20068308 | |
| 31-12-2020 | full format | 30-08-2021 | 2021-57300326 | |
| 31-12-2019 | full format | 17-08-2020 | 2020-41600396 | |
| 31-12-2018 | full format | 29-08-2019 | 2019-54800324 | |
| 31-12-2017 | full format | 29-06-2018 | 2018-26100246 | |
| 31-12-2016 | full format | 30-08-2017 | 2017-52000015 |
Board & ownership
Directors
Directors
1 office holder, last change in 2026
Day-to-day management 1
Cyrielle REUTER
Current
Managing director · appointed in the act of 26-08-2025
Signing authorityThe articles say who may bind the company, for example by signing a contract.
“L’organe d’administration détermine s’ils agissent seul ou conjointement. Les délégués à la gestion journalière peuvent, en ce qui concerne…”
deed of 24-09-2026Owners and capital
Shareholders
1 ownerOwners 1
- Equity €716,561 Profit of €66,132 in 2025 (profit of €77,407 in 2024) Checked score 8919.75%
Capital transactions
Capital over time
- 24-09-2026 Capital stated in 2 acts · €405,000 · 405 shares
Mandate history
4 people, 1 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Cyrielle REUTER |
|
| Nathalie REUTER |
|
| SOGID |
|
| Suzanne PASLEAU |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Peut être composé par un administrateur unique ou par plusieurs administrateurs, composition du conseil d'administration”“Six ans au plus, mandat administrateurs conseil d'administration”deed of 24-09-2026 (in French)
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Toutes opérations prévues par loi sauf décision contraire assemblée majorité, Article 38”deed of 21-05-2024 (in French)
Network & group
Connections & network
2 connected companiesThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
RACING LEASE
Shared director
→
SOGID
Shared director
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
24-09
Gazette deed
Company renamed from REUTER SA to ProtexRegistered office moved from Sprimont to Herstal · Resignation: Nathalie REUTER (director) · Amendment of the articles7 points ▸
Gazette deed
Company renamed from REUTER SA to Protex
Registered office moved from Sprimont to Herstal · Resignation: Nathalie REUTER (director) · Amendment of the articles7 points ▸
- General meeting, 10-09-2026
- Name change, Protex
- Amendment of the articles, 1
- Registered-office move, Parc Industriel des Hauts Sarts 1E Av 285, 4040 Herstal
- Amendment of the articles
- Capital, €405,000
- Director resignation, Nathalie REUTER (director)
31-03
full format · 122 days before the deadline
2025
31-12
Financial
Equity above €500,000equity €503,286 ▲2.4%
With a profit in every financial year since 2018, equity grows to €503,286.
26-08
Gazette deed
Resignations: Suzanne PASLEAU (director) and SOGID (director)Appointment: Cyrielle REUTER (managing director)4 points ▸
Gazette deed
Resignations: Suzanne PASLEAU (director) and SOGID (director)
Appointment: Cyrielle REUTER (managing director)4 points ▸
- General meeting, 30-06-2025
- Director resignation, Suzanne PASLEAU (director)
- Director resignation, SOGID (director)
- Director appointment, Cyrielle REUTER (managing director)
17-07
full format · 14 days before the deadline
2024
31-12
Financial
Highest result from 2018 to 2025net €76,907 ▲47.8%
The operating result of €126,024 and the net result of €76,907 are both a record.
22-07
full format · 9 days before the deadline
21-05
Gazette deed
Registered office moved to SprimontResignations: PASLEAU Suzanne, REUTER Nathalie and SOGID · Appointments: PASLEAU Suzanne, REUTER Nathalie and SOGID · Permanent representative: PASLEAU Suzanne17 points ▸
Gazette deed
Registered office moved to Sprimont
Resignations: PASLEAU Suzanne, REUTER Nathalie and SOGID · Appointments: PASLEAU Suzanne, REUTER Nathalie and SOGID · Permanent representative: PASLEAU Suzanne17 points ▸
- General meeting, 21-12-2023
- Purpose change
- Declaration, “conformément à la loi, bureau de l'assemblée” (deed in French)
- Other provision, “approbation et dépôt du rapport justificatif, greffe du Tribunal compétent” (deed in French)
- Amendment of the articles, mentioned 2 times in the deed
- Capital, €405,000
- Director resignation, PASLEAU Suzanne (director)
- Director resignation, REUTER Nathalie (director)
- Director resignation, SOGID (director)
- Director discharge, PASLEAU Suzanne
- Director discharge, REUTER Nathalie
- Director discharge, SOGID
- The act holds 5 more points.
2023
25-08
full format · 25 days late
2022
13-06
full format · 48 days before the deadline
2021
30-08
full format · 30 days late
2020
17-08
full format · 17 days late
Show earlier events
2019
29-08
full format · 29 days late
2018
29-06
full format · 32 days before the deadline
2017
30-08
full format · 30 days late
2004
07-12
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Protex in French
Former name
REUTER SA until 10-09-2026 · act of 24-09-2026
Enterprise number
0870.177.397
Legal form
Public limited company
Status
Active, normale toestand
Founded
24-11-2004
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 24-09-2026 (in French)Registered office and establishments
Registered office
Parc Ind. des Hauts Sarts, 1e av 285, 4040 Herstal, Belgium
Establishment unit
Protex, Parc Ind. des Hauts Sarts, 1e av 285, 4040 Herstal since 24-11-2004 · unit number 2.143.574.393
Activities
NACEBEL 2025VAT activities
43211
General electrical installation work main activity
46431
Wholesale of electrical household appliances and audio-video equipment
Social security (RSZ) activities
43211
General electrical installation work main activity
Codes under NACEBEL 2008
VAT activities
43211
Specialised construction activities main activity
46431
Wholesale of electrical household appliances and audio-video equipment
Social security (RSZ) activities
43211
Specialised construction activities main activity
Codes under NACEBEL 2003
VAT activities
45310
main activity
51430
Social security (RSZ) activities
45310
main activity
Joint committees
200 Aanvullend Paritair Comité voor de bedienden
149.01 Paritair Subcomité voor de elektriciens: installatie en distributie annual accounts 2025
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 24-09-2026 (in French)
“L'achat, la vente en gros et/ou au détail, la location, le prêt et l'usage de matériel industriel et d'outillage; L'installation, la…”
12 activities
- L'achat, la vente en gros et/ou au détail, la location, le prêt et l'usage de matériel industriel et d'outillage
- L'installation, la fabrication et l'assemblage de matériel électrique, industriel ou électronique, ainsi que' l'entreprise d'installation d'éclairage, de force motrice, de téléphonie, de chauffage de tous types, de tous appareils de communication (sonorisation, radio, télévision, etc), d'automatisation industrielle, de building management, de réseau informatique et de maintenance industrielle et tertiaire
- L'installation de systèmes de sécurité et de télésurveillance, de systèmes d'alarme, caméras, moniteurs, parlophonie, barrières antivols, étiquettes et systèmes de sécurité pour les biens, domotique, contrôle d'accès, systèmes de ventilation (HVAC), ventilation double flux, pompes à chaleur, puits canadiens ainsi que produits dérivés, sonorisation, climatisation, installation électrique pour maison et industrie, détection incendie, panneaux solaires photovoltaïques et thermiques
- La rénovation, l'entretien, la transformation, la démolition et, de manière générale, les activités liées directement ou indirectement à la construction
- Bureaux d'études
- Les travaux forestiers, l'exploitation forestière, la sylviculture, les plantations, l'entretien, l'installation de clôtures de protection, la protection de plants
- L'exploitation agricole au sens le plus large du terme, l’agriculture, l’élevage, l’horticulture, les activités connexes de l’agriculture, de l’élevage et de l’horticulture, la chasse, le piégeage et le repeuplement en gibier, la pêche, la cynégétique
- De conception, d’installation, de consultance, d’entretien et/ou de réparation de caméras de surveillance
- De consultance, de conception, d’installation, d’entretien et/ou de réparation de systèmes de détection d’incendie et de systèmes de lutte contre le feu
- De consultance, de conception, d’installation, d’entretien et/ou de réparation de systèmes de contrôle d'accès par tout moyen mécanique et/ou électronique
- La gestion pour son propre compte ou pour autrui de valeurs mobilières ou immobilières
- La société pourra intervenir dans la gestion sous toutes ses formes et la direction d’autres sociétés et/ou entreprises, ainsi que l’exercice des fonctions d’administrateur ou liquidateur d’autres sociétés
Invoicing and payment
VAT number
BE 0870.177.397
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0870.177.397
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Last Tuesday of May at 09:00
deed of 24-09-2026 (in French)Recognitions · licences · registrations
Recognised contractor
1 categoryProtex SAapproval number 33862
- P1 Electrical installations in buildings, with fire and burglar alarms and telecomsclass 2, up to €330,000
Licences in the Official Gazette
2 publicationsSecurity firm approval (alarm systems)
Security firm approval (alarm systems)
Sites & property
Location
Cannot be placed on the map
This address was not found in the Belgian address register (BOSA BEST).
Parc Ind. des Hauts Sarts, 1e av 2854040 Herstal