R & S
ActiveSummary
R & S has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€55,641) and a net result of -€19,535. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 14% of 11547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability5▲+5
Solvency0▼-7
Growth32=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.76 against 0.85 in 2024; short-term debt: 131.9% and cash: 1.7% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-31.9%
Return on assets
-11.2%
Age of the figures
15 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€55,641
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 30-01-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
on the day
2023
on the day
2022
3 d late
2021
10 d early
2020
1 d early
2019
9 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 31 January (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€55,641▼ 54.1%
2024 · -€36,106
Total assets
€174,327▼ 15.5%
2024 · €206,197
Net result
-€19,535▲ 39.1%
2024 · -€32,100
Working capital
-€55,941▼ 54.5%
2024 · -€36,201
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€4,706€15,629▲ 232%-€14,429-€25,393▼ 76.0%-€13,833▲ 45.5%
Net result€1,715within the sector's middle half€16,649within the sector's middle half▲ 871%-€18,665below the sector's middle half-€32,100below the sector's middle half▼ 72.0%-€19,535below the sector's middle half▲ 39.1%
Equity€2,260below the sector's middle half▲ 315%€14,659within the sector's middle half▲ 549%-€4,006below the sector's middle half-€36,106below the sector's middle half▼ 801%-€55,641below the sector's middle half▼ 54.1%
Total assets€269,478within the sector's middle half▲ 0.8%€249,340within the sector's middle half▼ 7.5%€279,924within the sector's middle half▲ 12.3%€206,197within the sector's middle half▼ 26.3%€174,327within the sector's middle half▼ 15.5%
Debt€267,218▲ 0.1%€234,680▼ 12.2%€283,929▲ 21.0%€242,303▼ 14.7%€229,967▼ 5.1%
Working capital-€1,167within the sector's middle half▲ 87.3%€13,313within the sector's middle half-€1,349within the sector's middle half-€36,201below the sector's middle half▼ 2,583%-€55,941below the sector's middle half▼ 54.5%
Solvency0.8%below the sector's middle half▲ 0.6pp5.9%below the sector's middle half▲ 5.0pp-1.4%below the sector's middle half▼ 7.3pp-17.5%below the sector's middle half▼ 16.1pp-31.9%below the sector's middle half▼ 14.4pp
Current ratio1.00within the sector's middle half▲ 0.031.06within the sector's middle half▲ 0.061.00within the sector's middle half▼ 0.060.85below the sector's middle half▼ 0.140.76below the sector's middle half▼ 0.09
Return on assets (ROA)0.6%within the sector's middle half▲ 6.8pp6.7%within the sector's middle half▲ 6.0pp-6.7%below the sector's middle half▼ 13.3pp-15.6%below the sector's middle half▼ 8.9pp-11.2%below the sector's middle half▲ 4.4pp
Staff (FTE)1.522=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
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 €13,833 in 2025 against €25,393 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €174,327
Fixed assets
€300 ▼ 60.5%
Current assets
€174,027 ▼ 15.3%
Key figures and ratios
EBITDA
-€13,374▲
2024 · -€24,227
Cash flow
-€19,076▲
2024 · -€30,934
Quick ratio
0.18▲
2024 · 0.13
Debt to equity
-4.13▲
2024 · -6.71
Interest coverage
-2.17▲
2024 · -3.55
Debt ≤ 1 year
€229,967▼
2024 · €241,639
Debt > 1 year
€0▼
2024 · €664
Staff costs
€50,154▼
2024 · €57,619
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,906 companies that looked in July 2024 the way this one looks now, 5.8% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.8%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 1.0% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,906 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €48,238 | €81,194 | €57,619 | €50,154 | ▼ 13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,404 | €8,339 | €8,734 | €1,166 | €459 | ▼ 60.6% |
| Other operating charges640/8 | - | €965 | €1,276 | €2,325 | €754 | ▼ 67.6% |
| Gross operating margin9900 | €61,936 | €73,171 | €76,775 | €35,717 | €37,534 | ▲ 5.1% |
| Operating profit (loss)9901 | €4,706 | €15,629 | -€14,429 | -€25,393 | -€13,833 | ▲ 45.5% |
| Financial income75/76B | - | €5,187 | €946 | €109 | €465 | ▲ 327% |
| Recurring financial income75 | €203 | €5,187 | €946 | €109 | €465 | ▲ 327% |
| Financial charges65/66B | - | €4,167 | €5,182 | €6,816 | €6,166 | ▼ 9.5% |
| Recurring financial charges65 | €3,194 | €4,167 | €5,182 | €6,816 | €6,166 | ▼ 9.5% |
| Profit (loss) for the period before taxes9903 | €1,715 | €16,649 | -€18,665 | -€32,100 | -€19,535 | ▲ 39.1% |
| Profit (loss) for the period9904 | €1,715 | €16,649 | -€18,665 | -€32,100 | -€19,535 | ▲ 39.1% |
| Profit (loss) for the period to be appropriated9905 | €1,715 | €16,649 | -€18,665 | -€32,100 | -€19,535 | ▲ 39.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €269,478 | €249,340 | €279,924 | €206,197 | €174,327 | ▼ 15.5% |
| Fixed assets21/28 | €16,400 | €10,659 | €1,925 | €759 | €300 | ▼ 60.5% |
| Intangible fixed assets21 | €1,575 | €1,275 | €900 | €600 | €300 | ▼ 50.0% |
| Tangible fixed assets22/27 | €14,825 | €9,384 | €1,025 | €159 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | €2,380 | €0 | - | - | - |
| Furniture and vehicles24 | - | €7,004 | €1,025 | €159 | €0 | ▼ 100% |
| Current assets29/58 | €253,078 | €238,680 | €277,999 | €205,438 | €174,027 | ▼ 15.3% |
| Stocks and contracts in progress3 | €198,734 | €184,148 | €190,180 | €175,067 | €132,595 | ▼ 24.3% |
| Stocks30/36 | - | €184,148 | €190,180 | €175,067 | €132,595 | ▼ 24.3% |
| Amounts receivable within one year40/41 | €48,822 | €48,297 | €78,062 | €21,290 | €38,500 | ▲ 80.8% |
| Trade receivables40 | - | €48,297 | €77,952 | €21,180 | €38,500 | ▲ 81.8% |
| Other amounts receivable41 | - | €0 | €110 | €110 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €5,521 | €6,234 | €9,757 | €9,082 | €2,931 | ▼ 67.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €269,478 | €249,340 | €279,924 | €206,197 | €174,327 | ▼ 15.5% |
| Equity10/15 | €2,260 | €14,659 | -€4,006 | -€36,106 | -€55,641 | ▼ 54.1% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €19,512 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | - | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €2,000 | €0 | - | - | - |
| Distributable reserves133 | - | €0 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | -€37,252 | -€7,341 | -€26,006 | -€58,106 | -€77,641 | ▼ 33.6% |
| Amounts payable17/49 | €267,218 | €234,680 | €283,929 | €242,303 | €229,967 | ▼ 5.1% |
| Amounts payable after more than one year17 | €12,973 | €9,313 | €4,581 | €664 | €0 | ▼ 100% |
| Financial debts170/4 | - | €9,313 | €4,581 | €664 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €254,245 | €225,367 | €279,348 | €241,639 | €229,967 | ▼ 4.8% |
| Current portion of amounts payable after more than one year42 | - | €3,660 | €3,800 | €3,917 | €664 | ▼ 83.0% |
| Financial debts43 | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Other loans439 | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Trade debts44 | €44,909 | €38,956 | €43,975 | €45,733 | €31,946 | ▼ 30.1% |
| Suppliers440/4 | - | €38,956 | €43,975 | €45,733 | €31,946 | ▼ 30.1% |
| Taxes, remuneration and social security45 | - | €6,551 | €15,813 | €19,361 | €21,157 | ▲ 9.3% |
| Taxes450/3 | - | €904 | €1,554 | €2,045 | €2,430 | ▲ 18.8% |
| Remuneration and social security454/9 | - | €5,647 | €14,260 | €17,315 | €18,727 | ▲ 8.2% |
| Other amounts payable47/48 | - | €126,201 | €165,760 | €122,628 | €126,200 | ▲ 2.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,715 | €16,649 | -€18,665 | -€32,100 | -€19,535 | ▲ 39.1% |
| + Depreciation and write-downs630 | €8,404 | €8,339 | €8,734 | €1,166 | €459 | ▼ 60.6% |
| Operating cash flow (approximation) | €10,119 | €24,988 | -€9,931 | -€30,934 | -€19,076 | ▲ 38.3% |
| Investment in fixed assets (approximation) | - | -€2,598 | €0 | €0 | €0 | - |
| Change in cash | - | €713 | €3,522 | -€675 | -€6,150 | ▼ 811% |
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
30-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Weakest financial yearnet -€32,100
Net result drops to -€32,100, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 3 days late
31-03
Financial
Highest result since 2019net €16,649 ▲871%
Operating result €15,629, net result €16,649, both a record.
2021
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Back to profitnet €1,715
Net result €1,715 after 2 loss-making years.
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
15-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
24-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 24 days late
2016
29-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Aalter · 1 establishment unit since 2011
Ground area
2,741 m²
Building footprint
983 m²
Volume, LiDAR
5,580 m³
Parcel 44503H0077/00P000, Flanders · tallest building 8.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
R & S
since 20112.200.838.245
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44503H0077/00P000 | Flanders | 2,741 m² | 1 · 983 m² | 8.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 2,911 EUR awarded · 2,911 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,890 EUR | 1,890 EUR |
| 2023 | 1 | 0 EUR | 1,021 EUR |
| 2022 | 1 | 1,021 EUR | 0 EUR |
Similar companies · same sector, comparable size
SAFETEX
BE 1011.935.672
Herentals · Eq €14,878
ALGEMENE WERF BESCHERMING
BE 0674.926.790
Hasselt · Eq €13,344
L&F sales
BE 1008.611.542
Antwerpen · Eq €12,914
BENSKA
BE 0778.428.067
Verviers · Eq €11,405
ADMINWORX
BE 0752.643.784
Nijlen · Eq €20,634
Of 192 companies in sector 46421 we hold annual accounts for 129. 47 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-06-2011
Fiscal year end30-06
Activities, NACEBEL 2025
46421Wholesale trade
13100Manufacture of textiles
18120Other printing
47711Retail sale of women's outerwear
47712Retail trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0837529177
Registered
05-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.