R2 CONCEPT
ActiveSummary
R2 CONCEPT has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €53,971 and a net result of -€22,927. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 41% of 15872 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability4▼-70
Solvency53▼-47
Growth52=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity tight (current ratio 1.32 against 3.83 in 2023; short-term debt: 72.2% and cash: 27.5% of total assets), and 72.2% of the assets are financed with debt.
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Signals
Four 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 2024Solvency, return and age of the figures
Solvency
27.8%
Return on assets
-11.8%
Age of the figures
21 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
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
30 d late
2022
26 d early
2021
31 d late
2020
31 d late
2019
53 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 20 days after 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€53,971▼ 29.8%
2023 · €76,897
Total assets
€194,254▲ 88.4%
2023 · €103,122
Net result
-€22,927
2023 · €4,561
Working capital
€45,551▼ 38.7%
2023 · €74,296
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€10,277▲ 298%-€171€19,198€7,809▼ 59.3%-€21,802
Net result€6,653within the sector's middle half▲ 561%-€2,176below the sector's middle half€13,216within the sector's middle half€4,561within the sector's middle half▼ 65.5%-€22,927below the sector's middle half
Equity€61,296within the sector's middle half▲ 12.2%€59,120within the sector's middle half▼ 3.5%€72,336within the sector's middle half▲ 22.4%€76,897within the sector's middle half▲ 6.3%€53,971within the sector's middle half▼ 29.8%
Total assets€75,019within the sector's middle half▲ 10.9%€76,126within the sector's middle half▲ 1.5%€110,228within the sector's middle half▲ 44.8%€103,122within the sector's middle half▼ 6.4%€194,254within the sector's middle half▲ 88.4%
Debt€13,723▲ 5.4%€17,005▲ 23.9%€37,892▲ 123%€26,225▼ 30.8%€140,284▲ 435%
Working capital€60,190within the sector's middle half▲ 28.2%€57,671within the sector's middle half▼ 4.2%€70,452within the sector's middle half▲ 22.2%€74,296within the sector's middle half▲ 5.5%€45,551within the sector's middle half▼ 38.7%
Solvency81.7%above the sector's middle half▲ 0.9pp77.7%above the sector's middle half▼ 4.0pp65.6%within the sector's middle half▼ 12.0pp74.6%above the sector's middle half▲ 8.9pp27.8%within the sector's middle half▼ 46.8pp
Current ratio5.39above the sector's middle half▲ 0.784.39above the sector's middle half▼ 0.992.86within the sector's middle half▼ 1.533.83above the sector's middle half▲ 0.971.32within the sector's middle half▼ 2.51
Return on assets (ROA)8.9%within the sector's middle half▲ 7.4pp-2.9%below the sector's middle half▼ 11.7pp12.0%within the sector's middle half▲ 14.8pp4.4%within the sector's middle half▼ 7.6pp-11.8%below the sector's middle half▼ 16.2pp
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 turns negative in 2024: a loss of €21,802 after €7,809 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €194,254
Fixed assets
€8,420 ▲ 224%
Current assets
€185,834 ▲ 84.9%
Equity and liabilities €194,254
Equity
€53,971 ▼ 29.8%
Debt
€140,284 ▲ 435%
Debt's share of the balance-sheet total rises from 25.4% to 72.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€18,780▼
2023 · €8,481
Cash flow
-€19,905▼
2023 · €5,234
Debt to equity
2.60▲
2023 · 0.34
ROE
-42.5%▼
2023 · 5.9%
Interest coverage
-26.26▼
2023 · 7.14
Debt ≤ 1 year
€140,284▲
2023 · €26,225
Income taxes
€437▼
2023 · €2,148
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,295 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 89% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
3.6%
went bankrupt
5.9%
stopped otherwise
89%
still going
A further 1.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,295 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,583 | €340 | €533 | €672 | €3,021 | ▲ 349% |
| Other operating charges640/8 | - | €1,467 | €1,572 | €1,727 | €1,697 | ▼ 1.8% |
| Gross operating margin9900 | €18,417 | €1,635 | €21,304 | €10,209 | -€17,084 | ▼ 267% |
| Operating profit (loss)9901 | €10,277 | -€171 | €19,198 | €7,809 | -€21,802 | ▼ 379% |
| Financial income75/76B | - | €45 | €215 | €88 | €27 | ▼ 69.6% |
| Recurring financial income75 | €25 | €45 | €215 | €88 | €27 | ▼ 69.6% |
| Financial charges65/66B | - | €1,554 | €1,672 | €1,189 | €715 | ▼ 39.8% |
| Recurring financial charges65 | €805 | €1,554 | €1,672 | €1,189 | €715 | ▼ 39.8% |
| Profit (loss) for the period before taxes9903 | €9,497 | -€1,681 | €17,741 | €6,709 | -€22,490 | ▼ 435% |
| Income taxes67/77 | €2,844 | €495 | €4,526 | €2,148 | €437 | ▼ 79.7% |
| Profit (loss) for the period9904 | €6,653 | -€2,176 | €13,216 | €4,561 | -€22,927 | ▼ 603% |
| Profit (loss) for the period to be appropriated9905 | €6,653 | -€2,176 | €13,216 | €4,561 | -€22,927 | ▼ 603% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €75,019 | €76,126 | €110,228 | €103,122 | €194,254 | ▲ 88.4% |
| Fixed assets21/28 | €1,106 | €1,449 | €1,884 | €2,601 | €8,420 | ▲ 224% |
| Tangible fixed assets22/27 | €1,016 | €1,359 | €1,794 | €2,511 | €8,330 | ▲ 232% |
| Plant, machinery and equipment23 | - | - | €1,794 | €2,511 | €1,700 | ▼ 32.3% |
| Furniture and vehicles24 | - | €1,359 | - | - | €6,630 | - |
| Financial fixed assets28 | €90 | €90 | €90 | €90 | €90 | = |
| Current assets29/58 | €73,913 | €74,676 | €108,345 | €100,521 | €185,834 | ▲ 84.9% |
| Amounts receivable within one year40/41 | €13,460 | €20,983 | €65,194 | €49,809 | €131,332 | ▲ 164% |
| Trade receivables40 | - | €15,428 | €64,024 | €48,184 | €128,574 | ▲ 167% |
| Other amounts receivable41 | - | €5,555 | €1,170 | €1,625 | €2,757 | ▲ 69.7% |
| Cash at bank and in hand54/58 | €60,453 | €53,693 | €43,151 | €49,916 | €53,453 | ▲ 7.1% |
| Deferred charges and accrued income490/1 | - | - | - | €796 | €1,050 | ▲ 31.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €75,019 | €76,126 | €110,228 | €103,122 | €194,254 | ▲ 88.4% |
| Equity10/15 | €61,296 | €59,120 | €72,336 | €76,897 | €53,971 | ▼ 29.8% |
| Contributions10/11 | - | €8,000 | €8,000 | €8,000 | €8,000 | = |
| Reserves13 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €140 | €140 | €140 | €140 | = |
| Profit (loss) carried forward14 | €51,296 | €49,120 | €62,336 | €66,897 | €43,971 | ▼ 34.3% |
| Amounts payable17/49 | €13,723 | €17,005 | €37,892 | €26,225 | €140,284 | ▲ 435% |
| Amounts payable within one year42/48 | €13,723 | €17,005 | €37,892 | €26,225 | €140,284 | ▲ 435% |
| Current portion of amounts payable after more than one year42 | - | - | €10,000 | - | - | - |
| Financial debts43 | - | €4,667 | - | - | - | - |
| Credit institutions430/8 | - | €4,667 | - | - | - | - |
| Trade debts44 | €6,945 | €10,840 | €12,323 | €15,920 | €134,780 | ▲ 747% |
| Suppliers440/4 | - | €10,840 | €12,323 | €15,920 | €134,780 | ▲ 747% |
| Advances received on contracts in progress46 | - | - | - | - | €3,706 | - |
| Taxes, remuneration and social security45 | - | €488 | €11,120 | €9,338 | €1,797 | ▼ 80.8% |
| Taxes450/3 | - | €488 | €4,615 | €6,763 | €1,797 | ▼ 73.4% |
| Remuneration and social security454/9 | - | - | €6,505 | €2,575 | - | - |
| Other amounts payable47/48 | - | €1,009 | €4,449 | €967 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,653 | -€2,176 | €13,216 | €4,561 | -€22,927 | ▼ 603% |
| + Depreciation and write-downs630 | €6,583 | €340 | €533 | €672 | €3,021 | ▲ 349% |
| Operating cash flow (approximation) | €13,236 | -€1,836 | €13,749 | €5,234 | -€19,905 | ▼ 480% |
| Investment in fixed assets (approximation) | - | -€683 | -€968 | -€1,390 | -€8,840 | ▼ 536% |
| Change in cash | - | -€6,760 | -€10,543 | €6,765 | €3,537 | ▼ 47.7% |
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
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€22,927
Net result drops to -€22,927, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €13,216
Net result €13,216 after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
17-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
17-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Kortenberg · 1 establishment unit since 2010
Ground area
624 m²
Building footprint
163 m²
Volume, LiDAR
778 m³
Parcel 24055B0282/00E000, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Leuvensesteenweg 398, 3070 Kortenberg
since 20102.194.908.080
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24055B0282/00E000 | Flanders | 624 m² | 1 · 163 m² | 8.8 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.
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Of 1,743 companies in sector 46720 we hold annual accounts for 1,083. 506 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
Founded05-10-2010
Fiscal year end31-12
Activities, NACEBEL 2025
46720Wholesale of motor vehicle parts and accessories
43320Joinery installation
43350Other building finishing work
43990Other specialised construction activities
47820Retail sale of motor vehicle parts and accessories
46180Agents specialised in the wholesale of other particular products
E-invoicing
Reachable via Peppol
Peppol ID
0208:0830110657
Also
9925:BE0830110657
Registered
23-09-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.