RCMD
ActiveSummary
RCMD has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.0m and a net result of €355,213. Equity is growing by ~10.7% per year across the filed fiscal years. Its solvency ranks better than 62% of 221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability88▼-12
Solvency69▲+6
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €80,000 at 30 days acceptable
Liquidity ample (current ratio 1.67 against 0.9 in 2024; short-term debt: 24.3% and cash: 20.1% of total assets), but 56% 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
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
44%
Return on assets
15%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 38
Relative position
BE, all sectors
reference
Waste collection, recovery and disposal activities (NACE 38)
about 10% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 09-06-2026, 52 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
52 d early
2024
44 d early
2023
50 d early
2022
48 d early
2021
47 d early
2020
46 d early
2019
52 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 48 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 32% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.0m▲ 19.3%
2024 · €870,669
Total assets
€2.4m▲ 2.6%
2024 · €2.3m
Net result
€355,213▼ 44.8%
2024 · €642,940
Working capital
€387,109
2024 · -€108,952
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 38, Waste collection, recovery and disposal activities, 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
Line20212022202320242025
Operating result€668,020▲ 103%€791,859▲ 18.5%€471,748▼ 40.4%€756,468▲ 60.4%€456,181▼ 39.7%
Net result€617,195above the sector's middle half▲ 109%€735,829above the sector's middle half▲ 19.2%€356,650above the sector's middle half▼ 51.5%€642,940above the sector's middle half▲ 80.3%€355,213above the sector's middle half▼ 44.8%
Equity€682,250within the sector's middle half▲ 10.9%€658,079within the sector's middle half▼ 3.5%€657,729within the sector's middle half▼ 0.1%€870,669within the sector's middle half▲ 32.4%€1.0mwithin the sector's middle half▲ 19.3%
Total assets€2.6mwithin the sector's middle half▲ 6.0%€3.0mwithin the sector's middle half▲ 18.8%€2.4mwithin the sector's middle half▼ 22.2%€2.3mwithin the sector's middle half▼ 2.3%€2.4mwithin the sector's middle half▲ 2.6%
Debt€1.9m▲ 4.3%€2.4m▲ 26.9%€1.7m▼ 28.4%€1.4m▼ 15.8%€1.3m▼ 7.5%
Working capital€201,228within the sector's middle half▼ 29.0%€425,571within the sector's middle half▲ 111%€305,005within the sector's middle half▼ 28.3%-€108,952below the sector's middle half€387,109within the sector's middle half
Solvency26.7%within the sector's middle half▲ 1.2pp21.7%within the sector's middle half▼ 5.0pp27.9%within the sector's middle half▲ 6.2pp37.8%within the sector's middle half▲ 9.9pp44.0%within the sector's middle half▲ 6.1pp
Current ratio1.22within the sector's middle half▼ 0.251.37within the sector's middle half▲ 0.151.48within the sector's middle half▲ 0.110.90within the sector's middle half▼ 0.581.67within the sector's middle half▲ 0.78
Return on assets (ROA)24.2%above the sector's middle half▲ 11.9pp24.3%above the sector's middle half▲ 0.1pp15.1%above the sector's middle half▼ 9.1pp27.9%above the sector's middle half▲ 12.8pp15.0%above the sector's middle half▼ 12.9pp
Staff (FTE)3.8within the sector's middle half▲ 58.3%3.5within the sector's middle half▼ 7.9%3.5within the sector's middle half=3.3within the sector's middle half▼ 5.7%3.5within the sector's middle half▲ 6.1%
above
within
below
the middle half (P25 to P75) of NACE 38, Waste collection, recovery and disposal activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 40% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.4m
Fixed assets
€1.4m ▲ 2.4%
Current assets
€961,478 ▲ 2.9%
Equity and liabilities €2.4m
Equity
€1.0m ▲ 19.3%
Debt
€1.3m ▼ 7.5%
Debt's share of the balance-sheet total falls from 62.2% to 56.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€575,111▼
2024 · €858,704
Cash flow
€474,143▼
2024 · €745,176
Quick ratio
1.02▲
2024 · 0.57
Debt to equity
1.27▼
2024 · 1.64
ROE
34.2%▼
2024 · 73.8%
Interest coverage
12.42▼
2024 · 19.76
Debt ≤ 1 year
€574,368▼
2024 · €1.0m
Debt > 1 year
€748,599▲
2024 · €387,283
Income taxes
€55,097▼
2024 · €70,507
Staff costs
€214,837▲
2024 · €202,453
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 31,349 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | €3,000 | €0 | - | - | - |
| Remuneration, social security and pensions62 | €147,599 | €159,917 | €193,050 | €202,453 | €214,837 | ▲ 6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €80,529 | €89,717 | €99,183 | €102,236 | €118,930 | ▲ 16.3% |
| Other operating charges640/8 | €7,836 | €9,489 | €10,416 | €9,505 | €9,177 | ▼ 3.5% |
| Gross operating margin9900 | €903,984 | €1.1m | €774,398 | €1.1m | €799,124 | ▼ 25.4% |
| Operating profit (loss)9901 | €668,020 | €791,859 | €471,748 | €756,468 | €456,181 | ▼ 39.7% |
| Financial income75/76B | €212 | €773 | €3,420 | €443 | €421 | ▼ 4.9% |
| Recurring financial income75 | €212 | €773 | €3,420 | €443 | €421 | ▼ 4.9% |
| Financial charges65/66B | €26,205 | €20,452 | €27,602 | €43,464 | €46,292 | ▲ 6.5% |
| Recurring financial charges65 | €26,205 | €20,452 | €27,602 | €43,464 | €46,292 | ▲ 6.5% |
| Profit (loss) for the period before taxes9903 | €642,027 | €772,180 | €447,566 | €713,447 | €410,310 | ▼ 42.5% |
| Income taxes67/77 | €24,832 | €36,351 | €90,916 | €70,507 | €55,097 | ▼ 21.9% |
| Profit (loss) for the period9904 | €617,195 | €735,829 | €356,650 | €642,940 | €355,213 | ▼ 44.8% |
| Profit (loss) for the period to be appropriated9905 | €617,195 | €735,829 | €356,650 | €642,940 | €355,213 | ▼ 44.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.6m | €3.0m | €2.4m | €2.3m | €2.4m | ▲ 2.6% |
| Fixed assets21/28 | €1.4m | €1.5m | €1.4m | €1.4m | €1.4m | ▲ 2.4% |
| Tangible fixed assets22/27 | €1.4m | €1.5m | €1.4m | €1.4m | €1.4m | ▲ 2.4% |
| Land and buildings22 | €1.4m | €1.4m | €1.3m | €1.2m | €1.2m | ▼ 5.2% |
| Plant, machinery and equipment23 | €20,124 | €38,492 | €46,248 | €67,282 | €130,099 | ▲ 93.4% |
| Furniture and vehicles24 | €21,803 | €54,523 | €66,768 | €63,521 | €98,393 | ▲ 54.9% |
| Current assets29/58 | €1.1m | €1.6m | €945,548 | €934,136 | €961,478 | ▲ 2.9% |
| Stocks and contracts in progress3 | €226,401 | €448,084 | €432,454 | €339,330 | €374,519 | ▲ 10.4% |
| Stocks30/36 | €226,401 | €448,084 | €432,454 | €339,330 | €374,519 | ▲ 10.4% |
| Amounts receivable within one year40/41 | €297,986 | €252,484 | €167,049 | €204,454 | €97,162 | ▼ 52.5% |
| Trade receivables40 | €287,302 | €232,993 | €149,697 | €204,454 | €76,605 | ▼ 62.5% |
| Other amounts receivable41 | €10,684 | €19,491 | €17,352 | €0 | €20,558 | - |
| Cash at bank and in hand54/58 | €563,675 | €865,301 | €326,776 | €376,699 | €475,170 | ▲ 26.1% |
| Deferred charges and accrued income490/1 | €12,829 | €9,267 | €19,270 | €13,653 | €14,626 | ▲ 7.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.6m | €3.0m | €2.4m | €2.3m | €2.4m | ▲ 2.6% |
| Equity10/15 | €682,250 | €658,079 | €657,729 | €870,669 | €1.0m | ▲ 19.3% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €638,860 | €638,860 | €638,860 | €837,000 | €837,000 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | €37,000 | €37,000 | €37,000 | €37,000 | €37,000 | = |
| Distributable reserves133 | €600,000 | €600,000 | €600,000 | €800,000 | €800,000 | = |
| Profit (loss) carried forward14 | €24,790 | €619 | €269 | €15,069 | €182,782 | ▲ 1,113% |
| Amounts payable17/49 | €1.9m | €2.4m | €1.7m | €1.4m | €1.3m | ▼ 7.5% |
| Amounts payable after more than one year17 | €968,854 | €1.2m | €1.1m | €387,283 | €748,599 | ▲ 93.3% |
| Financial debts170/4 | €968,854 | €1.2m | €1.1m | €387,283 | €748,599 | ▲ 93.3% |
| Amounts payable within one year42/48 | €899,663 | €1.1m | €640,543 | €1.0m | €574,368 | ▼ 44.9% |
| Current portion of amounts payable after more than one year42 | €70,994 | €71,674 | €72,346 | €68,091 | €72,603 | ▲ 6.6% |
| Trade debts44 | €246,946 | €287,766 | €187,860 | €226,790 | €286,840 | ▲ 26.5% |
| Suppliers440/4 | €246,946 | €287,766 | €187,860 | €226,790 | €286,840 | ▲ 26.5% |
| Taxes, remuneration and social security45 | €31,723 | €30,025 | €23,337 | €47,085 | €27,425 | ▼ 41.8% |
| Taxes450/3 | €18,003 | €18,683 | €2,634 | €17,648 | €1,084 | ▼ 93.9% |
| Remuneration and social security454/9 | €13,720 | €11,342 | €20,703 | €29,437 | €26,341 | ▼ 10.5% |
| Other amounts payable47/48 | €550,000 | €760,100 | €357,000 | €701,123 | €187,500 | ▼ 73.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €617,195 | €735,829 | €356,650 | €642,940 | €355,213 | ▼ 44.8% |
| + Depreciation and write-downs630 | €80,529 | €89,717 | €99,183 | €102,236 | €118,930 | ▲ 16.3% |
| Operating cash flow (approximation) | €697,724 | €825,547 | €455,833 | €745,176 | €474,143 | ▼ 36.4% |
| Investment in fixed assets (approximation) | - | -€94,628 | -€55,053 | -€58,486 | -€151,897 | ▼ 160% |
| Change in cash | - | €301,626 | -€538,525 | €49,923 | €98,471 | ▲ 97.2% |
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
09-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €1mEq €1.0m ▲19.3%
8 profitable years in a row build equity to €1.0m.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
11-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €735,829 ▲19.2%
Operating result €791,859, net result €735,829, both a record.
14-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
15-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet €233,330 ▼39.2%
Net result drops to €233,330, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €500,000Eq €570,221 ▲33.6%
2 profitable years in a row build equity to €570,221.
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
11-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Wielsbeke · 1 establishment unit since 2002
Ground area
5,000 m²
Building footprint
1,088 m²
Volume, LiDAR
78 m³
Parcel 37017C0332/00Y000, Flanders · tallest building 1.3 m. Linked by address, not a title deed.
1 establishment unit
Houtvezelstraat 5, 8710 Wielsbeke
since 20022.115.591.279
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37017C0332/00Y000 | Flanders | 5,000 m² | 1 · 1,088 m² | 1.3 m |
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
Owners and holdings
1 ownerChain of control
- STICAPLAST
- RCMD
Highest known parent: STICAPLAST. The sources do not say who stands above it.
Owners 1
- STICAPLASTparentSourceaccounts STICAPLAST 202498.92%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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
2022 to 2025 · 4 entries · 2,574 EUR awarded · 2,574 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 1,284 EUR |
| 2024 | 1 | 2,119 EUR | 835 EUR |
| 2023 | 1 | 243 EUR | 243 EUR |
| 2022 | 1 | 212 EUR | 212 EUR |
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Of 978 companies in sector 38210 we hold annual accounts for 587. 417 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
Founded07-10-2002
Fiscal year end31-12
Activities, NACEBEL 2025
38210Materials recovery from waste
E-invoicing
Reachable via Peppol
Peppol ID
0208:0478498525
Also
9925:BE0478498525
Registered
08-05-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.