RC Development · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of RC Development is 0.5% (low). The 2025 annual accounts show equity of €2.91M and a net result of €101k. Equity is growing by ~28.9% per year across the filed fiscal years. Its solvency ranks better than 87% of 546 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Signals

3 signals · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 87% of 546 peers (2025). A comfortable equity buffer.

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2024 and 2025).

View the result trend

Growing equity

Equity grew over 2023-2025. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 25-03-2026, 36 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

The next deadline is still running

The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 4 filed financial years, each closing on 30-09. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 30-09-2025, that is 30-04-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
30-09-2025	30-04-2026	25-03-2026	36 d early	2026-00061403
30-09-2024	30-04-2025	29-04-2025	1 d early	2025-00079061
30-09-2023	30-04-2024	24-04-2024	6 d early	2024-00067533
30-09-2022	30-04-2023	27-04-2023	3 d early	2023-00070140

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2020, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.5% Low

0%0,5%1,5%4%10%≥25%

Young company +Lower-failure-rate sector −Annual accounts: healthy financial profile −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€101k-94.3%

Working capital€2.89M+146.5%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 25-03-2026 with the NBB · fiscal year 2025 · verkort

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~28.9%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 68, Real estate activities · compared within the same schema type (abbreviated schema)

Metric	This company	Sector median	Position in the sector
Solvency	78.7%	16.1%	better than 87% of 546 sector peers
Net result	€101k	€6k	better than 78% of 546 sector peers
Equity	€2.91M	€165k	better than 88% of 546 sector peers
Gross operating margin	€-1.24M	€77k	better than 5% of 545 sector peers
Staff costs	€59k	€70k	higher than 43% of 83 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P87

Stable position over 2022-2025 · n=546-1709

Net result P78

Stable position over 2022-2025 · n=546-1705

Equity P88

Stable position over 2022-2025 · n=546-1709

Gross operating margin P5

Weakening position over 2022-2025 · n=545-1706

Describes the position versus peers, not a forecast.

EBITDA

€-1.30M

- 22-25

Net profit

€101k

-94.3% 22-25

Cash flow

€108k

-93.9% 22-25

Total assets

€3.70M

-21.9% 22-25

Equity

€2.91M

+3.6% 22-25

Working capital

€2.89M

+146.5% 22-25

Employees (FTE)

1

- 22-25

Staff costs

€59k

+74.9% 22-25

Show 11 other metrics

Income taxes

€271

-99.9% 22-25

Debt

€786k

-59.1% 22-25

Debt ≤ 1y

€776k

-59.2% 22-25

Debt > 1y

€10k

-38.8% 22-25

Current ratio

4.73

+192.4% 22-25

Quick ratio

1.81

+37.3% 22-25

Solvency

78.7%

+32.6% 22-25

Debt / equity

0.27

-60.5% 22-25

ROE

3.5%

-94.5% 22-25

ROA

2.7%

-92.7% 22-25

Interest coverage

-59.74

- 22-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	verkort
Revenue	-
EBITDA	€-1.30M
Net profit	€101k
Cash flow	€108k
Staff costs	€59k
Income taxes	€271
Dividends	-
Total assets	€3.70M
Equity	€2.91M
Debt	€786k
of which ≤ 1y	€776k
of which > 1y	€10k
Working capital	€2.89M
Employees (FTE)	1.0

Ratios (computed)

	2025
Current ratio	4.73
Quick ratio	1.81
Working capital ratio	78.2%
Solvency	78.7%
Debt / equity	0.27
Long-term debt ratio	0.00
Interest coverage	-59.74
Gross margin	-
Net margin	-
ROA	2.7%
ROE	3.5%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €29k · 0.8% Current assets €3.67M · 99.2%

Equity & liabilities

Equity €2.91M · 78.7% Debt €786k · 21.3%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€3.70M
Fixed assets	21/28	€29k
Tangible fixed assets	22/27	€29k
Financial fixed assets	28	€0
Current assets	29/58	€3.67M
Stocks & contracts in progress	3	€2.26M
Amounts receivable within one year	40/41	€278k
Cash & bank	54/58	€877k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€3.70M
Equity	10/15	€2.91M
Contributions / capital	10/11	€200k
Reserves	13	€2.71M
Amounts payable	17/49	€786k
Amounts payable after one year	17	€10k
Amounts payable within one year	42/48	€776k
Trade debts payable within one year	44	€42k
Income statement
Gross operating margin	9900	€-1.24M
Operating result	9901	€-1.31M
Financial income	75	€6k
Financial charges	65	€22k
Result before taxes	9903	€101k
Income taxes	67/77	€271
Net result for the period	9904	€101k
Result to be appropriated	9905	€101k

This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

68 / 100 Healthy

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

4 companies at this address See who is registered here

Establishment units

1 location

RC Development

Napoleonkaai 15, 2000 AntwerpenOntwikkeling van residentiële bouwprojecten

since 20202.312.411.605

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area4,448 m²

Buildings1

Building footprint473 m²

Volume (LiDAR)9,563 m³

Tallest building22.7 m · ±7 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
11802B0045/00C005 ProtectedMonumentCommissariaat Politie Havenafdeling: gevels en bedakingSource ↗	Flanders	4,448 m²	1 · 473 m²	22.7 m · 7 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

1 of these parcels carry protected heritage (source: regional heritage registers, Onroerend Erfgoed / patrimoine.brussels).

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

0 of 1 acts read

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Financial profile

5 of 5 axes measured

66 / 100

Strong profile, led by solvency.

All 5 axes are computed from data Checked has read.

Health 68

Profitability 17

Solvency 100

Growth 52

Stability 94

Credit advice

verdict per customer and amount

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We hold annual accounts for 2,018 of the 9,648 companies in this sector. 347 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Ontwikkeling van residentiële bouwprojecten68121Algemene bouw van andere niet-residentiële gebouwen41003Holdings64200Activiteiten van holdings64210Handel in eigen onroerend goed68110Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen68201

Primary activity highlighted.

Names & trade names

Legal nameNL

RC Development

Registered office

Napoleonkaai 15

2000 Antwerpen, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.