R.E.D.
ActiveSummary
R.E.D. has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-186k) and a net result of €-96k. Equity is shrinking by ~66.7% per year across the filed fiscal years. Its solvency ranks better than 9% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability1▼-3
Solvency0▼-13
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.08 against 0.5 in 2024; short-term debt: 15.8% and cash: 1% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-26.9%
Return on assets
-13.9%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €-186k
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 20-05-2026, 72 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
72 d early
2024
56 d early
2023
14 d early
2022
82 d early
2021
30 d early
2020
24 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-186k▼ 106%
2024 · €-90k
2020: €73k
2021: €92k▲ +27.1% vs 2020
2022: €110k▲ +19.5% vs 2021highest in 6 years
2023: €-523▼ -100% vs 2022
2024: €-90k▼ -17134% vs 2023
2025: €-186k▼ -106% vs 2024lowest in 6 years
2020 → 2025
Total assets
€690k▼ 11.7%
2024 · €782k
2020: €584k
2021: €301k▼ -48.5% vs 2020
2022: €164k▼ -45.3% vs 2021lowest in 6 years
2023: €741k▲ +350% vs 2022
2024: €782k▲ +5.5% vs 2023highest in 6 years
2025: €690k▼ -11.7% vs 2024
2020 → 2025
Net result
€-96k▼ 7.1%
2024 · €-90k
2020: €-11k
2021: €20k▲ +274% vs 2020
2022: €52k▲ +165% vs 2021highest in 6 years
2023: €-111k▼ -313% vs 2022lowest in 6 years
2024: €-90k▲ +19.3% vs 2023
2025: €-96k▼ -7.1% vs 2024
2020 → 2025
Working capital
€-100k▼ 57.7%
2024 · €-64k
2020: €14k
2021: €-60k▼ -530% vs 2020
2022: €113k▲ +289% vs 2021highest in 6 years
2023: €-22k▼ -120% vs 2022
2024: €-64k▼ -190% vs 2023
2025: €-100k▼ -57.7% vs 2024lowest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€92k-€110k▲ 19.5%€-523€-90k▼ 17,134%€-186k▼ 106%
2021: €92k
2022: €110k▲ +19.5% vs 2021highest in 5 years
2023: €-523▼ -100% vs 2022
2024: €-90k▼ -17134% vs 2023
2025: €-186k▼ -106% vs 2024lowest in 5 years
Operating result€31k-€59k▲ 92.0%€-111k€-55k▲ 50.6%€-73k▼ 34.2%
2021: €31k
2022: €59k▲ +92.0% vs 2021highest in 5 years
2023: €-111k▼ -287% vs 2022lowest in 5 years
2024: €-55k▲ +50.6% vs 2023
2025: €-73k▼ -34.2% vs 2024
Net result€20k-€52k▲ 165%€-111k€-90k▲ 19.3%€-96k▼ 7.1%
2021: €20k
2022: €52k▲ +165% vs 2021highest in 5 years
2023: €-111k▼ -313% vs 2022lowest in 5 years
2024: €-90k▲ +19.3% vs 2023
2025: €-96k▼ -7.1% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €73k in 2025 against €55k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €690k
Fixed assets
€682k ▼ 5.2%
Current assets
€9k ▼ 86.3%
Key figures and ratios
EBITDA
€-36k▼
2024 · €-19k
Cash flow
€-59k▼
2024 · €-54k
Solvency
-26.9%▼
2024 · -11.5%
Current ratio
0.08▼
2024 · 0.50
Debt to equity
-4.71▲
2024 · -9.68
ROA
-13.9%▼
2024 · -11.5%
Interest coverage
-1.59▼
2024 · -0.55
Debt
€876k▲
2024 · €872k
Debt ≤ 1 year
€109k▼
2024 · €127k
Debt > 1 year
€767k▲
2024 · €745k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€782k€690k▼
Fixed assets21/28€719k€682k▼
Tangible fixed assets22/27€719k€682k▼
Land and buildings22€703k€673k▼
Furniture and vehicles24€17k€9k▼
Current assets29/58€63k€9k▼
Amounts receivable within one year40/41€5k€1k▼
Other amounts receivable41€5k€1k▼
Cash at bank and in hand54/58€58k€7k▼
Equity and liabilities
Total equity and liabilities10/49€782k€690k▼
Equity10/15€-90k€-186k▼
Contributions10/11€84k€84k=
Capital10€84k€84k=
Issued capital100€84k€84k=
Reserves13€11k€11k=
Non-distributable reserves130/1€3k€3k=
Legal reserve130€3k€3k=
Distributable reserves133€8k€8k=
Profit (loss) carried forward14€-185k€-281k▼
Amounts payable17/49€872k€876k▲
Amounts payable after more than one year17€745k€767k▲
Financial debts170/4€745k€767k▲
Amounts payable within one year42/48€127k€109k▼
Current portion of amounts payable after more than one year42€110k€105k▼
Trade debts44€12k€908▼
Suppliers440/4€12k€908▼
Taxes, remuneration and social security45€445€445=
Taxes450/3€445€445=
Other amounts payable47/48€4k€3k▼
Accrued charges and deferred income492/3€536-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36k€37k▲
Other operating charges640/8€41-
Gross operating margin9900€-19k€-36k▼
Operating profit (loss)9901€-55k€-73k▼
Financial income75/76B€2-
Recurring financial income75€2-
Financial charges65/66B€35k€23k▼
Recurring financial charges65€35k€23k▼
Profit (loss) for the period before taxes9903€-90k€-96k▼
Profit (loss) for the period9904€-90k€-96k▼
Profit (loss) for the period to be appropriated9905€-90k€-96k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-185k€-281k▼
Profit (loss) brought forward from the previous period14P€-96k€-185k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €100k | €190k | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10k | €2k | €18k | €36k | €37k | ▲ 5.2% |
| Other operating charges640/8 | €2k | €100 | - | €41 | - | - |
| Gross operating margin9900 | €42k | €62k | €-93k | €-19k | €-36k | ▼ 88.7% |
| Operating profit (loss)9901 | €31k | €59k | €-111k | €-55k | €-73k | ▼ 34.2% |
| Financial income75/76B | €1 | €42 | - | €2 | - | - |
| Recurring financial income75 | €1 | €42 | - | €2 | - | - |
| Financial charges65/66B | €9k | €3k | €140 | €35k | €23k | ▼ 35.4% |
| Recurring financial charges65 | €9k | €3k | €140 | €35k | €23k | ▼ 35.4% |
| Profit (loss) for the period before taxes9903 | €22k | €57k | €-111k | €-90k | €-96k | ▼ 7.1% |
| Income taxes67/77 | €2k | €4k | €232 | - | - | - |
| Profit (loss) for the period9904 | €20k | €52k | €-111k | €-90k | €-96k | ▼ 7.1% |
| Profit (loss) for the period to be appropriated9905 | €20k | €52k | €-111k | €-90k | €-96k | ▼ 7.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €301k | €164k | €741k | €782k | €690k | ▼ 11.7% |
| Fixed assets21/28 | €294k | - | €733k | €719k | €682k | ▼ 5.2% |
| Tangible fixed assets22/27 | €294k | - | €733k | €719k | €682k | ▼ 5.2% |
| Land and buildings22 | €292k | - | €733k | €703k | €673k | ▼ 4.3% |
| Plant, machinery and equipment23 | €1k | - | - | - | - | - |
| Furniture and vehicles24 | €1k | - | - | €17k | €9k | ▼ 44.4% |
| Current assets29/58 | €7k | €164k | €8k | €63k | €9k | ▼ 86.3% |
| Amounts receivable within one year40/41 | €6k | €4k | €3k | €5k | €1k | ▼ 72.3% |
| Trade receivables40 | €6k | - | - | - | - | - |
| Other amounts receivable41 | €15 | €4k | €3k | €5k | €1k | ▼ 72.3% |
| Cash at bank and in hand54/58 | €851 | €160k | €5k | €58k | €7k | ▼ 87.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €301k | €164k | €741k | €782k | €690k | ▼ 11.7% |
| Equity10/15 | €92k | €110k | €-523 | €-90k | €-186k | ▼ 106% |
| Contributions10/11 | €84k | €84k | €84k | €84k | €84k | = |
| Capital10 | €84k | €84k | €84k | €84k | €84k | = |
| Issued capital100 | €84k | €84k | €84k | €84k | €84k | = |
| Reserves13 | €8k | €11k | €11k | €11k | €11k | = |
| Non-distributable reserves130/1 | €419 | €3k | €3k | €3k | €3k | = |
| Legal reserve130 | €419 | €3k | €3k | €3k | €3k | = |
| Distributable reserves133 | €8k | €8k | €8k | €8k | €8k | = |
| Profit (loss) carried forward14 | - | €15k | €-96k | €-185k | €-281k | ▼ 51.8% |
| Amounts payable17/49 | €209k | €54k | €741k | €872k | €876k | ▲ 0.5% |
| Amounts payable after more than one year17 | €141k | - | €711k | €745k | €767k | ▲ 3.0% |
| Financial debts170/4 | €141k | - | €711k | €745k | €767k | ▲ 3.0% |
| Amounts payable within one year42/48 | €66k | €52k | €30k | €127k | €109k | ▼ 13.8% |
| Current portion of amounts payable after more than one year42 | €9k | - | €20k | €110k | €105k | ▼ 4.5% |
| Trade debts44 | €52k | €6k | €5k | €12k | €908 | ▼ 92.3% |
| Suppliers440/4 | €52k | €6k | €5k | €12k | €908 | ▼ 92.3% |
| Advances received on contracts in progress46 | - | €1k | - | - | - | - |
| Taxes, remuneration and social security45 | €3k | €5k | €445 | €445 | €445 | = |
| Taxes450/3 | €3k | €5k | €445 | €445 | €445 | = |
| Other amounts payable47/48 | €3k | €39k | €5k | €4k | €3k | ▼ 36.7% |
| Accrued charges and deferred income492/3 | €2k | €2k | - | €536 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20k | €52k | €-111k | €-90k | €-96k | ▼ 7.1% |
| + Depreciation and write-downs630 | €10k | €2k | €18k | €36k | €37k | ▲ 5.2% |
| Operating cash flow (approximation) | €30k | €54k | €-93k | €-54k | €-59k | ▼ 8.3% |
| Investment in fixed assets (approximation) | - | - | - | €-22k | €0 | ▲ 100% |
| Change in cash | - | €159k | €-155k | €53k | €-51k | ▼ 196% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-111k
Net result drops to €-111k, the lowest in the series; recovery starts the following year.
10-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2020net €52k ▲165%
Operating result €59k, net result €52k, both a record.
31-12
Financial
Liquidity times 31current ratio 3.16
Current ratio from 0.10 to 3.16; short-term debt falls from €66k to €52k.
31-12
Financial
Equity above €100kEq €110k ▲19.5%
2 profitable years in a row build equity to €110k.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €20k
Net result €20k after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Halle · 1 establishment unit since 2019
Ground area
2,257 m²
Building footprint
1,019 m²
Volume, LiDAR
12,083 m³
2 parcels, Brussels, Flanders · tallest building 19.1 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
R.E.D.
since 20192.297.889.715
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23013B0242/00P002 | Flanders | 1,226 m² | 1 · 113 m² | 7.9 m · 2 fl. |
| 21526D0083/02M006 | Brussels | 1,030 m² | 1 · 906 m² | 19.1 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 4,286 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded04-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.