R-Squared Solutions
ActiveSummary
R-Squared Solutions has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €293,848 and a net result of €29,100. Equity has been growing by about 17% per year since 2018. Its solvency ranks better than 51% of 39,275 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 08-04-2011 Normal situation
- Activity
- Business and other management consultancy NACE 70200and 9 others
- Establishment unit
- 2.198.139.467 3570 Alken, since 08-04-2011
- Financial year end
- 31 December
- Peppol
- Reachable since 09-12-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €78,303
- ▼ 21.3%
- Turnover
- ≈ €160,000
- estimated
- Profit
- €29,100
- ▼ 38.7%
- Equity
- €293,848
- ▲ 11.0%
- Total assets
- €522,492
- ▲ 1.4%
Score breakdownraises riskLiquidity: current ratio 1.79, cash €6,973, halvedlowers riskSize: total assets €522,492Sector: Activities of head offices; management consultancy activities (NACE 70)Figures for financial year 2025 (filed on 30-06-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 70, micro). It does better than 52% of them on solvency, 35% on liquidity, 41% on profitability and 58% on growth.
The bankruptcy probability was computed on 03-11-2026 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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 17 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 15 filings
Every figure per financial year
The operating result for 2025 is 34% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €290,000 | €290,000 | €290,000 | €290,000 | €290,000 |
| Carrying value of the mortgaged assets | €384,051 | €376,362 | €378,283 | €423,692 | €402,606 |
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 | €36,926 | €15,602 | €26,965 | €68,899 | €7,991 |
| Depreciation and write-downs of the year | €20,148 | €21,187 | €22,937 | €25,015 | €28,667 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €17,866 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,420 | €21,839 | €22,919 | €20,148 | €21,187 | €22,937 | €25,015 | €28,667 | ▲ 14.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€1,146 | €0 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €1,500 | €6,205 | €1,402 | €1,739 | €1,480 | ▼ 14.9% |
| Gross operating margin9900 | €27,947 | €70,066 | €72,414 | €58,711 | €74,590 | €66,500 | €99,483 | €78,303 | ▼ 21.3% |
| Operating profit (loss)9901 | €7,006 | €45,320 | €46,507 | €38,208 | €47,198 | €42,162 | €72,729 | €48,157 | ▼ 33.8% |
| Financial income75/76B | - | - | - | €53 | €2 | €2 | €76 | €120 | ▲ 58.5% |
| Recurring financial income75 | €164 | €0 | €1 | €53 | €2 | €2 | €76 | €120 | ▲ 58.5% |
| Financial charges65/66B | - | - | - | €6,079 | €6,157 | €6,887 | €6,789 | €7,516 | ▲ 10.7% |
| Recurring financial charges65 | €6,185 | €6,564 | €5,381 | €6,079 | €6,157 | €6,887 | €6,789 | €7,516 | ▲ 10.7% |
| Profit (loss) for the period before taxes9903 | €985 | €38,756 | €41,127 | €32,182 | €41,044 | €35,276 | €66,016 | €40,761 | ▼ 38.3% |
| Income taxes67/77 | €445 | €6,982 | €9,154 | €9,187 | €11,857 | €9,984 | €18,512 | €11,660 | ▼ 37.0% |
| Profit (loss) for the period9904 | €540 | €31,775 | €31,973 | €22,995 | €29,186 | €25,292 | €47,504 | €29,100 | ▼ 38.7% |
| Profit (loss) for the period to be appropriated9905 | €540 | €31,775 | €31,973 | €22,995 | €29,186 | €25,292 | €47,504 | €29,100 | ▼ 38.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €358,725 | €407,679 | €419,090 | €436,087 | €411,299 | €431,814 | €515,421 | €522,492 | ▲ 1.4% |
| Fixed assets21/28 | €312,633 | €335,074 | €368,315 | €385,094 | €379,508 | €383,537 | €427,421 | €406,745 | ▼ 4.8% |
| Tangible fixed assets22/27 | €312,633 | €335,074 | €368,315 | €385,094 | €379,508 | €383,537 | €427,421 | €406,745 | ▼ 4.8% |
| Land and buildings22 | - | - | - | €384,051 | €376,362 | €378,283 | €423,692 | €402,606 | ▼ 5.0% |
| Furniture and vehicles24 | - | - | - | €1,043 | €3,146 | €5,254 | €3,729 | €4,140 | ▲ 11.0% |
| Current assets29/58 | €46,092 | €72,605 | €50,775 | €50,993 | €31,791 | €48,277 | €88,001 | €115,746 | ▲ 31.5% |
| Stocks and contracts in progress3 | €1,401 | €1,910 | €764 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €21,021 | €47,084 | €36,686 | €39,727 | €22,573 | €7,457 | €25,947 | €51,115 | ▲ 97.0% |
| Trade receivables40 | - | - | - | €39,727 | €21,648 | €6,280 | €23,595 | €49,258 | ▲ 109% |
| Other amounts receivable41 | - | - | - | - | €925 | €1,177 | €2,352 | €1,858 | ▼ 21.0% |
| Current investments50/53 | - | - | - | €250 | €2,750 | €10,250 | €17,750 | €56,153 | ▲ 216% |
| Cash at bank and in hand54/58 | €17,852 | €19,478 | €4,333 | €4,278 | €5,331 | €28,690 | €42,808 | €6,973 | ▼ 83.7% |
| Deferred charges and accrued income490/1 | - | - | - | €6,738 | €1,137 | €1,880 | €1,495 | €1,505 | ▲ 0.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €358,725 | €407,679 | €419,090 | €436,087 | €411,299 | €431,814 | €515,421 | €522,492 | ▲ 1.4% |
| Equity10/15 | €76,024 | €107,798 | €139,771 | €162,766 | €191,952 | €217,244 | €264,748 | €293,848 | ▲ 11.0% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €26,860 | €26,860 | €57,860 | €150,366 | €179,552 | €204,844 | €252,348 | €281,448 | ▲ 11.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €148,506 | €177,692 | €204,844 | €252,348 | €281,448 | ▲ 11.5% |
| Profit (loss) carried forward14 | €36,764 | €68,538 | €69,511 | - | - | - | - | - | - |
| Amounts payable17/49 | €282,701 | €299,881 | €279,318 | €273,321 | €219,347 | €214,570 | €250,674 | €228,644 | ▼ 8.8% |
| Amounts payable after more than one year17 | €224,353 | €247,055 | €223,708 | €199,968 | €177,434 | €169,863 | €198,504 | €163,926 | ▼ 17.4% |
| Financial debts170/4 | - | - | - | €199,968 | €177,434 | €169,863 | €198,504 | €163,926 | ▼ 17.4% |
| Amounts payable within one year42/48 | €58,153 | €48,742 | €55,611 | €73,352 | €41,913 | €44,707 | €52,170 | €64,718 | ▲ 24.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €25,068 | €25,148 | €28,434 | €34,339 | €34,578 | ▲ 0.7% |
| Financial debts43 | - | - | - | €11,418 | €42 | €110 | €384 | €906 | ▲ 136% |
| Credit institutions430/8 | - | - | - | €11,418 | €42 | €110 | €0 | - | - |
| Other loans439 | - | - | - | - | - | - | €384 | €906 | ▲ 136% |
| Trade debts44 | €9,969 | €9,644 | €12,463 | €13,018 | €203 | €5,336 | €7,430 | €5,907 | ▼ 20.5% |
| Suppliers440/4 | - | - | - | €13,018 | €203 | €5,336 | €7,430 | €5,907 | ▼ 20.5% |
| Taxes, remuneration and social security45 | - | - | - | €16,384 | €10,850 | €9,598 | €9,049 | €23,327 | ▲ 158% |
| Taxes450/3 | - | - | - | €14,650 | €10,850 | €8,040 | €8,490 | €20,752 | ▲ 144% |
| Remuneration and social security454/9 | - | - | - | €1,734 | €0 | €1,558 | €559 | €2,575 | ▲ 361% |
| Other amounts payable47/48 | - | - | - | €7,464 | €5,669 | €1,230 | €967 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €540 | €31,775 | €31,973 | €22,995 | €29,186 | €25,292 | €47,504 | €29,100 | ▼ 38.7% |
| + Depreciation and write-downs630 | €18,420 | €21,839 | €22,919 | €20,148 | €21,187 | €22,937 | €25,015 | €28,667 | ▲ 14.6% |
| Operating cash flow (approximation) | €18,960 | €53,613 | €54,892 | €43,142 | €50,374 | €48,229 | €72,518 | €57,767 | ▼ 20.3% |
| Investment in fixed assets (approximation) | - | -€44,280 | -€56,160 | -€36,926 | -€15,602 | -€26,965 | -€68,899 | -€7,991 | ▲ 88.4% |
| Change in cash | - | €1,627 | -€15,145 | -€55 | €1,053 | €23,359 | €14,118 | -€35,835 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,811 companies had the same profile as R-Squared Solutions has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of R-Squared Solutions itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 17,811 companies, not a prediction for R-Squared Solutions. 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.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00219551 | |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00206413 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00181286 | |
| 31-12-2022 | micro format | 05-07-2023 | 2023-00202977 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20210619 | |
| 31-12-2020 | micro format | 02-08-2021 | 2021-44000308 | |
| 31-12-2019 | micro format | 14-08-2020 | 2020-41000430 | |
| 31-12-2018 | micro format | 01-08-2019 | 2019-43200593 | |
| 31-12-2017 | micro format | 22-06-2018 | 2018-21000052 | |
| 31-12-2016 | micro format | 22-07-2017 | 2017-35200471 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 29-06-2023 Converted to unavailable equity
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| RAMAEKERS Robin Etienne |
|
Network & group
Companies at the same address
1 other companyConnections & network
See the function holders in the KBO register.
Timeline
Acts, filings and financial milestones
29-06
Gazette deed
Change of role: RAMAEKERS Robin Etienne, from manager to directorAmendment of the articles · Capital conversion · Reserve release9 points ▸
- General meeting, 26-06-2023, “buitengewone algemene vergadering van de enige aandeelhouder” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “statutair onbeschikbare eigen vermogensrekeningen” (deed in Dutch)
- Reserve release, “overeenkomstig de vormen en meerderheden van de statutenwijziging, aangelegde statutair onbeschikbare eigen vermogensrekeningen opheffen en middelen beschikbaar…” (deed in Dutch)
- Other provision, “TITEL VII. ONTBINDING – VEREFFENING, afdelingstitel” (deed in Dutch)
- Other provision, “TITEL VIII. ALGEMENE MAATREGELEN, afdelingstitel” (deed in Dutch)
- Director resignation, RAMAEKERS Robin Etienne (manager)
- Director appointment, RAMAEKERS Robin Etienne (director (not named in the articles))
- Registered office clause, “Vlaamse Gewest, 3570 Alken, Lindestraat 207” (deed in Dutch)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
11 activities
- Het verstrekken van advies op het vlak van bedrijfsvoering,organisatie,informatica,bureautica en telecommunicatie;
- Het verlenen van alle dienstprestaties en het uitvoeren van alle opdrachten onder meer onder de vorm van organisatiestudies,audits,expertises,technische behandelingen en raadgevingen hieromtrent;
- De verwerking en aanlevering van gegevens,het ter beschikking stellen van databases,het verlenen van administratieve prestaties en computerdiensten alsmede het verlenen van adviezen hieromtrent;
- De ontwikkeling van en de handel in hardware,software,datanetwerken,websites en aanverwanten,alsook de in-en uitvoer hiervan;
- Het onderzoek,de ontwikkeling,de vervaardiging en de commercialisering van nieuwe producten,systemen,technologieën en hun toepassingen;
- Het onderhoud en de herstellingswerken aan printers,computers,randapparatuur,kantoormachines en aanverwanten;
- Het geven van opleidingen en het opstellen van cursussen;
- Alle onderzoekswerkzaamheden in verband met procédés,patenten,brevetten en merken alsook de verwerving,uitbating en verkoop ervan;
- Het ter beschikking stellen van kantoren en personeel op projectbasis of op regelmatige basis aan derde partijen;
- Het uitvoeren van studies,het maken van analyses,het programmeren,het organiseren en het opstarten van informatica-afdelingen van bedrijven,het structureren en het op punt stellen,alsook de effectieve begeleiding hiervan.
- Dit alles in de meest ruime zin.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 73001A0403/00R000 | Flanders | 1,683 m² | 1 · 1,296 m² | 9.5 m · 2 |