RCV
ActiveSummary
RCV has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €617k and a net result of €41k. Equity is growing by ~12% per year across the filed fiscal years. Its solvency ranks better than 83% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-13
Solvency100▲+4
Growth61=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €50k at 30 days acceptable
Liquidity ample (current ratio 7.17 against 5.43 in 2024; short-term debt: 10.5% and cash: 37.8% of total assets), and 25.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
74.6%
Return on assets
4.9%
Age of the figures
12 mo
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 30-09-2025 was due by 30-04-2026 and was filed on 13-01-2026, 107 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
107 d early
2024
118 d early
2023
90 d early
2022
22 d early
2021
2 d early
2020
1 d early
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · 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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€816k▲ 4.1%
2020 · €783k
2018: €858khighest in 4 years
2019: €743k▼ -13.3% vs 2018lowest in 4 years
2020: €783k▲ +5.4% vs 2019
2021: €816k▲ +4.1% vs 2020
2018 → 2021
EBIT margin
7.7%▲ 2.2pp
2020 · 5.5%
2018: 2.2%lowest in 4 years
2019: 10.8%▲ +395% vs 2018highest in 4 years
2020: 5.5%▼ -49.6% vs 2019
2021: 7.7%▲ +41.1% vs 2020
2018 → 2021
Net result
€41k▼ 69.4%
2024 · €133k
2018: €2klowest in 8 years
2019: €57k▲ +2895% vs 2018
2020: €33k▼ -42.6% vs 2019
2021: €44k▲ +32.8% vs 2020
2022: €39k▼ -11.1% vs 2021
2023: €109k▲ +179% vs 2022
2024: €133k▲ +22.2% vs 2023highest in 8 years
2025: €41k▼ -69.4% vs 2024
2018 → 2025
Working capital
€533k▲ 5.2%
2024 · €507k
2018: €269klowest in 8 years
2019: €334k▲ +24.1% vs 2018
2020: €370k▲ +10.7% vs 2019
2021: €417k▲ +12.9% vs 2020
2022: €359k▼ -14.0% vs 2021
2023: €463k▲ +29.1% vs 2022
2024: €507k▲ +9.6% vs 2023
2025: €533k▲ +5.2% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€816k-
Equity€408k-€397k▼ 2.7%€484k▲ 21.8%€616k▲ 27.4%€617k▲ 0.1%
2021: €408k
2022: €397k▼ -2.7% vs 2021lowest in 5 years
2023: €484k▲ +21.8% vs 2022
2024: €616k▲ +27.4% vs 2023
2025: €617k▲ +0.1% vs 2024highest in 5 years
Operating result€63k-€58k▼ 8.3%€156k▲ 170%€190k▲ 22.0%€57k▼ 69.9%
2021: €63k
2022: €58k▼ -8.3% vs 2021
2023: €156k▲ +170% vs 2022
2024: €190k▲ +22.0% vs 2023highest in 5 years
2025: €57k▼ -69.9% vs 2024lowest in 5 years
Net result€44k-€39k▼ 11.1%€109k▲ 179%€133k▲ 22.2%€41k▼ 69.4%
2021: €44k
2022: €39k▼ -11.1% vs 2021lowest in 5 years
2023: €109k▲ +179% vs 2022
2024: €133k▲ +22.2% vs 2023highest in 5 years
2025: €41k▼ -69.4% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 70% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €826k
Fixed assets
€207k ▼ 15.3%
Current assets
€620k ▼ 0.3%
Equity and liabilities €826k
Equity
€617k ▲ 0.1%
Provisions
€36k =
Debt
€174k ▼ 18.6%
Debt's share of the balance-sheet total falls from 24.6% to 21.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€97k▼
2024 · €219k
Cash flow
€80k▼
2024 · €161k
Current ratio
7.17▲
2024 · 5.43
Quick ratio
5.12▲
2024 · 3.53
Debt to equity
0.28▼
2024 · 0.35
ROE
6.6%▼
2024 · 21.5%
ROA
4.9%▼
2024 · 15.3%
Interest coverage
10.39▼
2024 · 18.92
Debt ≤ 1 year
€86k▼
2024 · €114k
Debt > 1 year
€83k▼
2024 · €94k
Income taxes
€16k▼
2024 · €56k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 63 lines
Balance sheet
Code20242025
Assets
Total assets20/58€865k€826k▼
Fixed assets21/28€244k€207k▼
Tangible fixed assets22/27€242k€204k▼
Land and buildings22€95k€84k▼
Plant, machinery and equipment23€16k€13k▼
Furniture and vehicles24€130k€108k▼
Financial fixed assets28€2k€2k=
Current assets29/58€622k€620k▼
Stocks and contracts in progress3€218k€177k▼
Stocks30/36€82k€73k▼
Contracts in progress37€135k€105k▼
Amounts receivable within one year40/41€20k€37k▲
Trade receivables40€12k€4k▼
Other amounts receivable41€8k€33k▲
Current investments50/53€86k€88k▲
Cash at bank and in hand54/58€292k€313k▲
Deferred charges and accrued income490/1€6k€5k▼
Equity and liabilities
Total equity and liabilities10/49€865k€826k▼
Equity10/15€616k€617k▲
Contributions10/11€6k€6k=
Reserves13€610k€611k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€610k€611k▲
Profit (loss) carried forward14€0€0=
Provisions and deferred taxes16€36k€36k=
Provisions for liabilities and charges160/5€36k€36k=
Pensions and similar obligations160€36k€36k=
Amounts payable17/49€213k€174k▼
Amounts payable after more than one year17€94k€83k▼
Financial debts170/4€94k€83k▼
Amounts payable within one year42/48€114k€86k▼
Current portion of amounts payable after more than one year42€11k€11k▲
Financial debts43€21€21=
Credit institutions430/8€21€21=
Trade debts44€27k€13k▼
Suppliers440/4€27k€13k▼
Advances received on contracts in progress46€171€0▼
Taxes, remuneration and social security45€17k€8k▼
Taxes450/3€14k€4k▼
Remuneration and social security454/9€3k€3k▲
Other amounts payable47/48€59k€55k▼
Accrued charges and deferred income492/3€5k€4k▼
Income statement
Code20242025
Non-recurring operating income76A€21k€0▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€29k€39k▲
Other operating charges640/8€3k€3k▲
Gross operating margin9900€222k€100k▼
Operating profit (loss)9901€190k€57k▼
Financial income75/76B€10k€9k▼
Recurring financial income75€10k€9k▼
Financial charges65/66B€12k€9k▼
Recurring financial charges65€12k€9k▼
Profit (loss) for the period before taxes9903€188k€56k▼
Income taxes67/77€56k€16k▼
Profit (loss) for the period9904€133k€41k▼
Profit (loss) for the period to be appropriated9905€133k€41k▼
Appropriation of the result
Profit (loss) to be appropriated9906€133k€41k▼
Transfer from equity791/2€0€40k▲
Transfer to equity691/2€133k€41k▼
To other reserves6921€133k€41k▼
Profit to be distributed694/7€0€40k▲
Return on contributions (dividend)694€0€40k▲
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €816k | - | - | - | - | - |
| Non-recurring operating income76A | €1k | €0 | - | €21k | €0 | ▼ 100% |
| Goods, raw materials, services and sundry goods60/61 | €765k | - | - | - | - | - |
| Remuneration, social security and pensions62 | €1k | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35k | €34k | €23k | €29k | €39k | ▲ 37.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €2k | €0 | - | - | - | - |
| Other operating charges640/8 | €3k | €7k | €5k | €3k | €3k | ▲ 6.1% |
| Gross operating margin9900 | €104k | €98k | €184k | €222k | €100k | ▼ 54.9% |
| Operating profit (loss)9901 | €63k | €58k | €156k | €190k | €57k | ▼ 69.9% |
| Financial income75/76B | €7 | €3k | €8k | €10k | €9k | ▼ 13.0% |
| Recurring financial income75 | €7 | €3k | €8k | €10k | €9k | ▼ 13.0% |
| Financial charges65/66B | €3k | €3k | €9k | €12k | €9k | ▼ 19.5% |
| Recurring financial charges65 | €3k | €3k | €9k | €12k | €9k | ▼ 19.5% |
| Profit (loss) for the period before taxes9903 | €59k | €58k | €155k | €188k | €56k | ▼ 70.0% |
| Income taxes67/77 | €16k | €19k | €46k | €56k | €16k | ▼ 71.6% |
| Profit (loss) for the period9904 | €44k | €39k | €109k | €133k | €41k | ▼ 69.4% |
| Profit (loss) for the period to be appropriated9905 | €44k | €39k | €109k | €133k | €41k | ▼ 69.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €712k | €663k | €789k | €865k | €826k | ▼ 4.5% |
| Fixed assets21/28 | €160k | €188k | €165k | €244k | €207k | ▼ 15.3% |
| Tangible fixed assets22/27 | €158k | €186k | €163k | €242k | €204k | ▼ 15.5% |
| Land and buildings22 | €131k | €119k | €107k | €95k | €84k | ▼ 12.3% |
| Plant, machinery and equipment23 | €3k | €3k | €2k | €16k | €13k | ▼ 20.2% |
| Furniture and vehicles24 | €24k | €64k | €54k | €130k | €108k | ▼ 17.2% |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €2k | = |
| Current assets29/58 | €552k | €475k | €623k | €622k | €620k | ▼ 0.3% |
| Stocks and contracts in progress3 | €150k | €149k | €189k | €218k | €177k | ▼ 18.5% |
| Stocks30/36 | €100k | €86k | €84k | €82k | €73k | ▼ 11.8% |
| Contracts in progress37 | €50k | €62k | €105k | €135k | €105k | ▼ 22.6% |
| Amounts receivable within one year40/41 | €44k | €37k | €17k | €20k | €37k | ▲ 80.7% |
| Trade receivables40 | €29k | €8k | €1k | €12k | €4k | ▼ 69.8% |
| Other amounts receivable41 | €15k | €29k | €16k | €8k | €33k | ▲ 292% |
| Current investments50/53 | - | €82k | €82k | €86k | €88k | ▲ 2.7% |
| Cash at bank and in hand54/58 | €359k | €202k | €331k | €292k | €313k | ▲ 7.1% |
| Deferred charges and accrued income490/1 | - | €5k | €4k | €6k | €5k | ▼ 14.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €712k | €663k | €789k | €865k | €826k | ▼ 4.5% |
| Equity10/15 | €408k | €397k | €484k | €616k | €617k | ▲ 0.1% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €402k | €391k | €477k | €610k | €611k | ▲ 0.1% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €0 | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €0 | - | - |
| Distributable reserves133 | €400k | €389k | €476k | €610k | €611k | ▲ 0.1% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €36k | €36k | €36k | €36k | €36k | = |
| Provisions for liabilities and charges160/5 | €36k | €36k | €36k | €36k | €36k | = |
| Pensions and similar obligations160 | €36k | €36k | €36k | €36k | €36k | = |
| Amounts payable17/49 | €268k | €230k | €269k | €213k | €174k | ▼ 18.6% |
| Amounts payable after more than one year17 | €133k | €114k | €104k | €94k | €83k | ▼ 11.8% |
| Financial debts170/4 | €133k | €114k | €104k | €94k | €83k | ▼ 11.8% |
| Amounts payable within one year42/48 | €135k | €116k | €161k | €114k | €86k | ▼ 24.5% |
| Current portion of amounts payable after more than one year42 | €42k | €19k | €10k | €11k | €11k | ▲ 4.8% |
| Financial debts43 | - | - | - | €21 | €21 | = |
| Credit institutions430/8 | - | - | - | €21 | €21 | = |
| Trade debts44 | €23k | €24k | €41k | €27k | €13k | ▼ 52.6% |
| Suppliers440/4 | €23k | €24k | €41k | €27k | €13k | ▼ 52.6% |
| Advances received on contracts in progress46 | €171 | €171 | €171 | €171 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €3k | €11k | €34k | €17k | €8k | ▼ 56.4% |
| Taxes450/3 | €3k | €7k | €31k | €14k | €4k | ▼ 69.9% |
| Remuneration and social security454/9 | - | €3k | €3k | €3k | €3k | ▲ 1.1% |
| Other amounts payable47/48 | €67k | €62k | €75k | €59k | €55k | ▼ 7.0% |
| Accrued charges and deferred income492/3 | - | - | €4k | €5k | €4k | ▼ 10.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44k | €39k | €109k | €133k | €41k | ▼ 69.4% |
| + Depreciation and write-downs630 | €35k | €34k | €23k | €29k | €39k | ▲ 37.6% |
| Operating cash flow (approximation) | €79k | €72k | €131k | €161k | €80k | ▼ 50.3% |
| Investment in fixed assets (approximation) | - | €-62k | €0 | €-107k | €-2k | ▲ 98.1% |
| Change in cash | - | €-156k | €129k | €-39k | €21k | ▲ 153% |
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
13-01
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
02-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-09
Financial
Highest result since 2018net €133k ▲22.2%
Operating result €190k, net result €133k, both a record.
30-09
Financial
Equity above €500kEq €616k ▲27.4%
7 profitable years in a row build equity to €616k.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
08-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
28-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
17-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 17 days late
2018
30-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
09-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
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.
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Directors · office · real estate
Directors
1 act for this company is 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, Sint-Gillis-Waas · 1 establishment unit since 2009
Ground area
712 m²
Building footprint
166 m²
Volume, LiDAR
830 m³
Parcel 46020B0335/00C002, Flanders · tallest building 6.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
RCV
since 20092.181.772.696
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46020B0335/00C002 | Flanders | 712 m² | 1 · 166 m² | 6.6 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 7,041 companies in sector 43221 we hold annual accounts for 3,473. 2,138 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
Founded15-09-2009
Fiscal year end30-09
Activities, NACEBEL 2025
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43230Insulation installation
Scores and ratios are computed by Checked and are not a credit decision.