Summary
RCA 38 is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €3.0m and a net result of €50,219. Equity is growing by ~7.9% per year across the filed fiscal years. Its solvency ranks better than 21% of 2451 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 23-07-2026, 8 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
8 d early
2024
27 d late
2023
44 d early
2022
49 d early
2021
1 d late
2020
15 d early
← 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 15 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
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. Usually files around 23 July (4 of the last 5 filed years within 35 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Equity
€3.0m▲ 1.7%
2024 · €2.9m
Net result
€50,219
2024 · -€44,424
Total assets
€11.4m▼ 4.0%
2024 · €11.9m
Solvency
26.0%▲ 1.5pp
2024 · 24.6%
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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 64, Financial service activities, except insurance and pension funding, 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).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€1.2m€1.2m▲ 4.2%
Operating result€110,711▼ 67.7%€148,499▲ 34.1%€136,772▼ 7.9%€247,552▲ 81.0%€116,731▼ 52.8%
Net result€382,561above the sector's middle half▼ 30.9%€656,658above the sector's middle half▲ 71.6%€365,299above the sector's middle half▼ 44.4%-€44,424below the sector's middle half€50,219within the sector's middle half
Equity€2.2mabove the sector's middle half▲ 6.5%€2.6mabove the sector's middle half▲ 18.6%€3.0mabove the sector's middle half▲ 14.1%€2.9mwithin the sector's middle half▼ 1.5%€3.0mwithin the sector's middle half▲ 1.7%
Total assets€6.1mabove the sector's middle half▲ 0.2%€6.1mabove the sector's middle half▲ 0.3%€11.7mabove the sector's middle half▲ 91.9%€11.9mwithin the sector's middle half▲ 1.8%€11.4mwithin the sector's middle half▼ 4.0%
Debt€3.9m▼ 3.0%€3.5m▼ 10.0%€8.7m▲ 150%€8.9m▲ 2.9%€8.4m▼ 5.9%
Working capital-€946,046below the sector's middle half▼ 19.1%-€932,555below the sector's middle half▲ 1.4%-€6.5mbelow the sector's middle half▼ 599%-€1.5mbelow the sector's middle half▲ 76.4%-€1.5mbelow the sector's middle half▲ 4.1%
Solvency36.1%within the sector's middle half▲ 2.1pp42.7%within the sector's middle half▲ 6.6pp25.4%within the sector's middle half▼ 17.3pp24.6%below the sector's middle half▼ 0.8pp26.0%below the sector's middle half▲ 1.5pp
Current ratio0.37within the sector's middle half▼ 0.040.33below the sector's middle half▼ 0.040.06below the sector's middle half▼ 0.270.20below the sector's middle half▲ 0.140.15below the sector's middle half▼ 0.05
Return on assets (ROA)6.3%within the sector's middle half▼ 2.8pp10.8%within the sector's middle half▲ 4.5pp3.1%within the sector's middle half▼ 7.7pp-0.4%below the sector's middle half▼ 3.5pp0.4%within the sector's middle half▲ 0.8pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 53% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.4m
Fixed assets
€11.1m ▼ 3.1%
Current assets
€265,552 ▼ 32.4%
Equity and liabilities €11.4m
Equity
€3.0m ▲ 1.7%
Debt
€8.4m ▼ 5.9%
Debt's share of the balance-sheet total falls from 75.4% to 74.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
1.7%▲
2024 · -1.5%
Debt ≤ 1 year
€1.7m▼
2024 · €1.9m
Debt > 1 year
€6.7m▼
2024 · €7.0m
Income taxes
€17,082▼
2024 · €19,461
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €1.2m | €1.2m | ▲ 0.5% |
| Turnover70 | - | - | - | €1.2m | €1.2m | ▲ 4.2% |
| Other operating income74 | - | - | - | €43,595 | - | - |
| Operating charges60/66A | - | - | - | €981,930 | €1.1m | ▲ 13.9% |
| Services and other goods61 | - | - | - | €980,962 | €767,653 | ▼ 21.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €350,037 | - |
| Other operating charges640/8 | €62 | €62 | - | €968 | €1,060 | ▲ 9.6% |
| Gross operating margin9900 | €110,773 | €148,561 | €136,772 | - | - | - |
| Operating profit (loss)9901 | €110,711 | €148,499 | €136,772 | €247,552 | €116,731 | ▼ 52.8% |
| Financial income75/76B | €350,000 | €600,000 | €300,224 | €306 | €21,313 | ▲ 6,865% |
| Recurring financial income75 | €350,000 | €600,000 | €300,224 | €306 | €21,313 | ▲ 6,865% |
| Income from financial fixed assets750 | - | - | - | €301 | €4,619 | ▲ 1,434% |
| Income from current assets751 | - | - | - | - | €16,664 | - |
| Other financial income752/9 | - | - | - | €5 | €30 | ▲ 499% |
| Financial charges65/66B | €59,735 | €55,597 | €52,081 | €272,821 | €70,743 | ▼ 74.1% |
| Recurring financial charges65 | €59,735 | €55,597 | €52,081 | €160,319 | €70,743 | ▼ 55.9% |
| Debt charges650 | - | - | - | €159,543 | €70,059 | ▼ 56.1% |
| Other financial charges652/9 | - | - | - | €776 | €684 | ▼ 11.9% |
| Non-recurring financial charges66B | - | - | - | €112,502 | - | - |
| Profit (loss) for the period before taxes9903 | €400,976 | €692,902 | €384,914 | -€24,962 | €67,302 | ▲ 370% |
| Income taxes67/77 | €18,416 | €36,244 | €19,615 | €19,461 | €17,082 | ▼ 12.2% |
| Taxes670/3 | - | - | - | €21,800 | €17,082 | ▼ 21.6% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €2,339 | - | - |
| Profit (loss) for the period9904 | €382,561 | €656,658 | €365,299 | -€44,424 | €50,219 | ▲ 213% |
| Profit (loss) for the period to be appropriated9905 | €382,561 | €656,658 | €365,299 | -€44,424 | €50,219 | ▲ 213% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.1m | €6.1m | €11.7m | €11.9m | €11.4m | ▼ 4.0% |
| Fixed assets21/28 | €5.5m | €5.6m | €11.2m | €11.5m | €11.1m | ▼ 3.1% |
| Financial fixed assets28 | €5.5m | €5.6m | €11.2m | €11.5m | €11.1m | ▼ 3.1% |
| Affiliated companies280/1 | - | - | - | €11.5m | €11.1m | ▼ 3.1% |
| Participating interests280 | - | - | - | €11.1m | €11.1m | = |
| Amounts receivable281 | - | - | - | €350,037 | - | - |
| Current assets29/58 | €555,702 | €463,049 | €421,030 | €393,019 | €265,552 | ▼ 32.4% |
| Amounts receivable within one year40/41 | €412,958 | €421,362 | €387,222 | €55,855 | €257,906 | ▲ 362% |
| Trade receivables40 | - | - | €152,500 | - | €249,156 | - |
| Other amounts receivable41 | €412,958 | €421,362 | €234,722 | €55,855 | €8,751 | ▼ 84.3% |
| Cash at bank and in hand54/58 | €142,744 | €41,687 | €33,807 | €337,164 | €6,502 | ▼ 98.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,144 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.1m | €6.1m | €11.7m | €11.9m | €11.4m | ▼ 4.0% |
| Equity10/15 | €2.2m | €2.6m | €3.0m | €2.9m | €3.0m | ▲ 1.7% |
| Contributions10/11 | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Reserves13 | €686,038 | €1.1m | €1.5m | €1.5m | €1.5m | = |
| Distributable reserves133 | €686,038 | €1.1m | €1.5m | €1.5m | €1.5m | = |
| Profit (loss) carried forward14 | - | - | - | -€44,424 | €5,796 | ▲ 113% |
| Amounts payable17/49 | €3.9m | €3.5m | €8.7m | €8.9m | €8.4m | ▼ 5.9% |
| Amounts payable after more than one year17 | €2.3m | €2.0m | €1.7m | €7.0m | €6.7m | ▼ 5.1% |
| Financial debts170/4 | €2.3m | €2.0m | €1.7m | €1.5m | €1.2m | ▼ 23.4% |
| Credit institutions173 | - | - | - | €526,093 | €169,108 | ▼ 67.9% |
| Other loans174 | - | - | - | €1.0m | €1.0m | = |
| Other amounts payable178/9 | - | - | - | €5.5m | €5.5m | = |
| Amounts payable within one year42/48 | €1.5m | €1.4m | €6.9m | €1.9m | €1.7m | ▼ 9.9% |
| Current portion of amounts payable after more than one year42 | - | €299,286 | €391,641 | €355,948 | €356,985 | ▲ 0.3% |
| Financial debts43 | €299,286 | - | - | €5,068 | €5,052 | ▼ 0.3% |
| Credit institutions430/8 | €299,286 | - | - | €5,068 | €5,052 | ▼ 0.3% |
| Trade debts44 | €647 | €4,274 | €25,000 | €90,458 | €77,077 | ▼ 14.8% |
| Suppliers440/4 | €647 | €4,274 | €25,000 | €90,458 | €77,077 | ▼ 14.8% |
| Taxes, remuneration and social security45 | €93,416 | €15,244 | €19,119 | €119,624 | €18,828 | ▼ 84.3% |
| Taxes450/3 | €93,416 | €15,244 | €19,119 | €119,624 | €18,828 | ▼ 84.3% |
| Other amounts payable47/48 | €1.1m | €1.1m | €6.5m | €1.4m | €1.3m | ▼ 5.7% |
| Accrued charges and deferred income492/3 | €15,630 | €34,250 | €932 | - | €20,090 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €382,561 | €656,658 | €365,299 | -€44,424 | €50,219 | ▲ 213% |
| Operating cash flow (approximation) | €382,561 | €656,658 | €365,299 | -€44,424 | €50,219 | ▲ 213% |
| Investment in fixed assets (approximation) | - | -€112,500 | -€5.6m | -€237,537 | €350,037 | ▲ 247% |
| Change in cash | - | -€101,057 | -€7,879 | €303,356 | -€330,662 | ▼ 209% |
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
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €50,219
Net result €50,219 after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet -€44,424
Net result drops to -€44,424, the lowest in the series; recovery starts the following year.
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
12-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2020net €656,658 ▲71.6%
Net result €656,658, the highest in the series.
01-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 1 day late
2021
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated 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, Hasselt · 1 establishment unit since 2019
Ground area
1,516 m²
Building footprint
749 m²
Volume, LiDAR
6,827 m³
Parcel 71326F0143/00M000, Flanders · tallest building 17.1 m, ±3 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
RCA 38
since 20192.296.322.867
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71326F0143/00M000 | Flanders | 1,516 m² | 1 · 749 m² | 17.1 m · 3 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.
Structure & network
Part of the group
STELLAR
32 companies
Group, risk and exposure
Owners and holdings
2 owners · 4 holdings · 5 subsidiaries in the treeChain of control
Highest known parent: STELLAR. The sources do not say who stands above it.
Owners 2
- GodiniteparentSourceaccounts Godinite 2025100%
- Sourceaccounts Travak 202510%
Holdings 4
-
100%
-
100%
-
100%
-
100%
All subsidiaries, including indirect ones 5
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- HQ38 100%
- Media38 100%
- RCA 100%
RCA X NIGHTINGALE 100%1 subsidiary
- NIGHTINGALE 100%
According to the 2025 annual accounts of RCA 38 and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2023 · 1 entry · 1,800 EUR awarded · 1,800 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 1,800 EUR | 1,800 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
254900F8ZS6092NEPG45
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Of 24,728 companies in sector 64210 we hold annual accounts for 19,805. 9,761 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
Founded05-12-2019
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
82100Office administrative and support services
Contact
Phone
+3211590590Hasselt
E-invoicing
Reachable via Peppol
Peppol ID
0208:0738754968
Also
9925:BE0738754968
Registered
27-07-2026
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.