Gross margin from -€83,627 to -€155,780Loss of €350,396Merger proposal: to be absorbed by Goodbikes23-111 statutory auditor appointed, 2 directors appointed, 2 resig…26-05Equity from -€173,813 to -€524,208Debts from €380,255 to €1.1m
Key points
from the 2023 annual accounts, the last ones filed
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
A company files its annual accounts with the National Bank no later than seven months after its financial year ends. Repeated late filing is a warning sign.
per financial year, computed from the annual accounts
Line
Trend
2023
2022
2021
-311,155
-157,627
-85,981
-341,083
-167,886
-89,197
21,554
0
61,041
-118
-44,987
-
-581,279
-223,123
16,031
-93.3%
-84.2%
1.2%
0.46
0.41
1.24
0.02
0.06
0.79
-
-
83.50
-62.3%
-85.0%
-66.4%
-9.68
-15.24
-25.88
EBIT margin: not included in this filing.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
Social balance sheet
The social balance sheet is the part of the annual accounts about staff: how many people work there, on which contract, who joined and who left, and what they cost. It shows whether an employer is growing or shrinking.
Item
31-12-2023
31-12-2022
31-12-2021
Employees at the balance-sheet date
2
3
2
full-time
1
0
2
part-time
1
3
-
in full-time equivalents
1.7
2.1
2
2.3
2.2
1.8
On a permanent contract
2
3
2
Joined
1
1
2
Left
2
0
0
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
fixed assets acquired
Investment
Investment is what the company bought in the financial year in buildings, machinery, software and other fixed assets. Above depreciation, it is building up. Years below it, it is living off what it has.
Item
2023
2022
2021
Tangible fixed assets
€21,554
-
€59,124
Intangible fixed assets
-
-
€1,917
€9,313
€7,590
€4,140
Source: notes to the 2021 to 2023 annual accounts (statement of fixed assets)
Insights on RE CYCLE
The operating result for 2023 is a loss of €320,468, larger than the loss of €165,217 in 2022. It is the lowest result since 2021.
Equity is negative. Debt (€1.1m) exceeds the balance-sheet total (€562,112).
Large changes and their cause
2023Net result -100%, Equity -202% on 2022.Last accounts before the absorption by Goodbikes (Official Gazette 19-02-2024).
Board & ownership
Last board
Directors
Many board changes in a short time are a reason to keep a close eye on the company.
4 directors, 1 in day-to-day management, 1 auditor, no change since 2023
Each bar is one period in a role, from appointment to resignation or to today. An open left edge means the mandate began before its first mention. An open right edge means the mandate ended without a stated end date.
Registered office moved to WaterlooNew registered office: rue Libert, 27 à 1410 Waterloo · Resignation: Jean-Pierre Cuvelier (director) · Appointments: Réginald Gillet, Karl Lechat and Pierre Doumit · General meeting of 12-10-20228 points ▸
Annual accounts 2021 filedPDFmicro format · 30 days late
Capital increase of €75,000 to €95,000Capital from €20,000 to €95,000, 3,750 new shares · Contributions: CUVELIER Jean-Pierre (€35,000, 1,750 shares); PARMENTIER Patrick (€40,000, 2,000 shares) · General meeting of 28-12-20219 points ▸
IncorporationFounding capital of €20,000, 1,000 shares, €5,000 paid up · Founders: CUVELIER Jean-Pierre Francis André Isabelle and CUVELIER Antoine · Appointment: CUVELIER Jean-Pierre (director)7 points ▸
Each sentence rests on a document from the KBO register, the Belgian Official Gazette or the National Bank. The number after the sentence opens that document.
The deed of incorporation of RE CYCLE was published in the Belgian Official Gazette on 9 December 2020.1The registered office was moved to Waterloo in 2022.2In 2022 the capital was increased by €75,000 to €95,000.3The board currently has 4 members, 2 of whom have served since 2022.4In 2024 the company was absorbed by merger into Goodbikes.5
Purpose, financial year and meetings according to the articles of association
Name, seat, purpose and duration
PurposeThe purpose describes the activities the company may carry out under its articles.
“Le commerce en détail et en gros de tous vélos, pièces de rechange pour vélos, des accessoires; ainsi que la réparation des vélos, la…”
12 activities
Le commerce en détail et en gros de tous vélos, pièces de rechange pour vélos, des accessoires; ainsi que la réparation des vélos, la fabrication des pièces et accessoires de vélos.
La location de vélos
L'organisation de randonnées et séjours à vélo
L'exploitation d'un salon de petite restauration, la vente de boissons, spiritueuses ou non.
La constitution et la valorisation d'un patrimoine mobilier en ce compris notamment la gestion, l'achat, la cession, l'échange, la vente pour son propre compte de biens mobiliers comme tous droits sociaux, actions, parts sociales, belges ou étrangers, même non cotés en bourse, obligations, bons de caisse, fonds d'Etat, warrants, options et autres, métaux précieux, œuvres d'art, meubles, livres et véhicules automobiles.
La constitution, la gestion et la valorisation d'un patrimoine immobilier, tant en immeubles qu'en droits réels immobiliers, notamment l'achat, la mise en valeur, le lotissement, l'échange, l'amélioration, la location meublée ou non tant en qualité de bailleur que de locataire, le leasing, la vente, la cession, la revente, le courtage, la mise en valeur, la promotion, l'expertise, la transformation, la rénovation, la construction et la destruction de biens immobiliers situés tant en Belgique qu'à l'étranger;
La prise de participations, directe ou indirecte, dans le capital de toute personne morale belge ou étrangère, existante ou à créer, de quelque manière que ce soit, notamment par voie d'apport, de fusion, de souscription et de commandite.
Consentir tous prêts, crédits et avances sous quelques formes que ce soit et pour quelques durées que ce soit, à toutes entreprises affiliées ou dans laquelle la société possède une participation.
Se voir octroyer, sous quelques formes que ce soit et pour quelques durées que ce soit, tous prêts, crédits et avances par toute personne physique ou morale dans le cadre de ses activités.
Donner caution, aval ou toutes garanties généralement quelconques, tant pour ses propres engagements que pour les engagements de tiers, entre autres en donnant ses biens en hypothèque ou en gage, y compris son fonds de commerce;
Exercer la fonction de gérant, d'administrateur, de délégué à la gestion journalière, de liquidateur ainsi que toute autre fonction autorisée dans toute personne morale belge ou étrangère.
Faire en Belgique ou à l'étranger, toutes opérations commerciales, industrielles, financières, mobilières ou immobilières se rapportant, directement ou indirectement, à son objet ou qui serait de nature à favoriser ou développer la réalisation.
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
RE CYCLE is no longer in the KBO register. Goodbikes took it over in a merger by absorption, published in the Belgian Official Gazette on 19 February 2024.
Status
Inactive
Reason
Merger by absorption"operation treated as a merger by absorption", Belgian Official Gazette, 19 February 2024 · deed