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RE-SOLE

Active
Public limited companyfounded 200916 yrs activeDe Lange Beemden 14.1, 3550 Heusden-Zolder, BelgiumKBO/BCE: BE 0820.369.481
Summary

RE-SOLE has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €70,370 and a net result of €157,069. Equity is shrinking by ~4.7% per year across the filed fiscal years. Its solvency ranks better than 33% of 279 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability100▲+13
Solvency41▼-37
Growth48▲+21
Track record100
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity tight (current ratio 1.19 against 2.14 in 2024; short-term debt: 84.2% and cash: 41.8% of total assets), and 84.2% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 16 years 0 20 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
15.8%
Return on assets
35.2%
Age of the figures
9 mo
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 21-05-2026, 71 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
71 d early
2024
76 d early
2023
70 d early
2022
70 d early
2021
19 d early
2020
54 d early
2019
59 d late
← 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 43 days before the deadline; the sector median for financial year 2024 is 23 days before the deadline, and 27% 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 months
Position in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

RE-SOLE was incorporated on 4 November 2009.1 Revenue fell from EUR 274,306 in 2018 to EUR 242,611 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, abbreviated schema

Turnover
€242,611▲ 19.4%
2024 · €203,258
EBIT margin
71.4%▲ 52.2pp
2024 · 19.2%
Net result
€157,069▲ 327%
2024 · €36,807
Working capital
€70,370▼ 67.0%
2024 · €213,300
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20212022202320242025
Turnover€243,247▼ 7.9%€277,568▲ 14.1%€232,997▼ 16.1%€203,258▼ 12.8%€242,611▲ 19.4%
Operating result€5,417▼ 82.2%€21,189▲ 291%-€14,908€39,058€173,206▲ 343%
Net result-€13,313▼ 11,179%€9,670-€16,940€36,807€157,069▲ 327%
EBIT margin2.2%▼ 9.3pp7.6%▲ 5.4pp-6.4%▼ 14.0pp19.2%▲ 25.6pp71.4%▲ 52.2pp
Equity€246,760▼ 7.0%€251,080▲ 1.8%€227,835▼ 9.3%€213,300▼ 6.4%€70,370▼ 67.0%
Total assets€691,804▼ 15.5%€593,460▼ 14.2%€461,437▼ 22.2%€401,172▼ 13.1%€446,540▲ 11.3%
Debt€445,044▼ 19.6%€342,380▼ 23.1%€233,602▼ 31.8%€187,872▼ 19.6%€376,170▲ 100%
Working capital€86,007▲ 39.1%€136,517▲ 58.7%€186,626▲ 36.7%€213,300▲ 14.3%€70,370▼ 67.0%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
-€50,000€0€50,000€100,000€150,000Operating result 2021: €5,417€5,417Net result 2021: -€13,313-€13,313Operating result 2022: €21,189€21,189Net result 2022: €9,670€9,670Operating result 2023: -€14,908-€14,908Net result 2023: -€16,940-€16,940Operating result 2024: €39,058€39,058Net result 2024: €36,807€36,807Operating result 2025: €173,206€173,206Net result 2025: €157,069€157,06920212022202320242025-€50,000€0€50,000€100,000€150,000Operating result 2023: -€14,908-€14,900Net result 2023: -€16,940-€16,900Operating result 2024: €39,058€39,100Net result 2024: €36,807€36,800Operating result 2025: €173,206€173,000Net result 2025: €157,069€157,000202320242025
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 343% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €446,540
Equity €70,370 ▼ 67.0%
Debt €376,170 ▲ 100%
Debt's share of the balance-sheet total rises from 46.8% to 84.2%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
Current ratio
1.19▼
2024 · 2.14
Debt to equity
5.35▲
2024 · 0.88
ROE
223.2%▲
2024 · 17.3%
ROA
35.2%▲
2024 · 9.2%
Debt ≤ 1 year
€376,170▲
2024 · €187,872
Income taxes
€22,777▲
2024 · €11,353
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 5,049 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 96% are still going.

  • Micro
  • 10 to 20 years old
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more
1.5% went bankrupt
2.3% stopped otherwise
96% still going

A further 0.4% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.

How reliable is this rule?

Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.6%
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 74% 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 5,049 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet Code20242025
Assets
Total assets20/58€401,172€446,540▲
Current assets29/58€401,172€446,540▲
Amounts receivable within one year40/41€246,931€260,095▲
Trade receivables40€12,925€10,194▼
Other amounts receivable41€234,006€249,901▲
Cash at bank and in hand54/58€153,077€186,445▲
Deferred charges and accrued income490/1€1,164-
Equity and liabilities
Total equity and liabilities10/49€401,172€446,540▲
Equity10/15€213,300€70,370▼
Contributions10/11€62,000€62,000=
Capital10€62,000€62,000=
Issued capital100€62,000€62,000=
Reserves13€6,200€6,200=
Non-distributable reserves130/1€6,200€6,200=
Legal reserve130€6,200€6,200=
Profit (loss) carried forward14€145,100€2,170▼
Amounts payable17/49€187,872€376,170▲
Amounts payable within one year42/48€187,872€376,170▲
Current portion of amounts payable after more than one year42€84,396-
Trade debts44€52,873€40,723▼
Suppliers440/4€52,873€40,723▼
Taxes, remuneration and social security45€5,603€35,448▲
Taxes450/3€5,603€35,448▲
Other amounts payable47/48€45,000€300,000▲
Income statement Code20242025
Turnover70€203,258€242,611▲
Non-recurring operating income76A-€10,473
Goods, raw materials, services and sundry goods60/61€79,152€79,823▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€125,605-
Other operating charges640/8€456€70▼
Gross operating margin9900€165,119€173,276▲
Operating profit (loss)9901€39,058€173,206▲
Financial income75/76B€19,387€11,596▼
Recurring financial income75€19,387€11,596▼
Financial charges65/66B€10,285€4,956▼
Recurring financial charges65€10,285€4,956▼
Profit (loss) for the period before taxes9903€48,160€179,846▲
Income taxes67/77€11,353€22,777▲
Profit (loss) for the period9904€36,807€157,069▲
Profit (loss) for the period to be appropriated9905€36,807€157,069▲
Appropriation of the result
Profit (loss) to be appropriated9906€190,100€302,170▲
Profit (loss) brought forward from the previous period14P€153,293€145,100▼
Profit to be distributed694/7€45,000€300,000▲
Return on contributions (dividend)694€45,000€300,000▲

The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Turnover70€243,247€277,568€232,997€203,258€242,611▲ 19.4%
Non-recurring operating income76A----€10,473-
Goods, raw materials, services and sundry goods60/61€84,231€94,609€78,001€79,152€79,823▲ 0.8%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€152,668€160,840€169,458€125,605--
Other operating charges640/8€930€930€446€456€70▼ 84.6%
Gross operating margin9900€159,015€182,959€154,996€165,119€173,276▲ 4.9%
Operating profit (loss)9901€5,417€21,189-€14,908€39,058€173,206▲ 343%
Financial income75/76B€9,399€10,627€14,313€19,387€11,596▼ 40.2%
Recurring financial income75€9,399€10,627€14,313€19,387€11,596▼ 40.2%
Financial charges65/66B€28,130€22,146€16,346€10,285€4,956▼ 51.8%
Recurring financial charges65€28,130€22,146€16,346€10,285€4,956▼ 51.8%
Profit (loss) for the period before taxes9903-€13,313€9,670-€16,940€48,160€179,846▲ 273%
Income taxes67/77---€11,353€22,777▲ 101%
Profit (loss) for the period9904-€13,313€9,670-€16,940€36,807€157,069▲ 327%
Profit (loss) for the period to be appropriated9905-€13,313€9,670-€16,940€36,807€157,069▲ 327%
Line20212022202320242025Change
Assets
Total assets20/58€691,804€593,460€461,437€401,172€446,540▲ 11.3%
Fixed assets21/28€455,902€295,062€125,605---
Tangible fixed assets22/27€455,902€295,062€125,605---
Plant, machinery and equipment23€99,466€50,772----
Leasing and similar rights25€356,437€244,290€125,605---
Current assets29/58€235,902€298,398€335,832€401,172€446,540▲ 11.3%
Amounts receivable within one year40/41€134,876€260,341€231,093€246,931€260,095▲ 5.3%
Trade receivables40€24,098€45,921€9,612€12,925€10,194▼ 21.1%
Other amounts receivable41€110,778€214,420€221,481€234,006€249,901▲ 6.8%
Cash at bank and in hand54/58€97,168€35,004€102,603€153,077€186,445▲ 21.8%
Deferred charges and accrued income490/1€3,858€3,053€2,136€1,164--
Equity and liabilities
Total equity and liabilities10/49€691,804€593,460€461,437€401,172€446,540▲ 11.3%
Equity10/15€246,760€251,080€227,835€213,300€70,370▼ 67.0%
Contributions10/11€62,000€62,000€62,000€62,000€62,000=
Capital10€62,000€62,000€62,000€62,000€62,000=
Issued capital100€62,000€62,000€62,000€62,000€62,000=
Reserves13€6,200€6,200€6,200€6,200€6,200=
Non-distributable reserves130/1€6,200€6,200€6,200€6,200€6,200=
Legal reserve130€6,200€6,200€6,200€6,200€6,200=
Profit (loss) carried forward14€160,564€170,234€153,294€145,100€2,170▼ 98.5%
Investment grants15€17,996€12,646€6,342---
Amounts payable17/49€445,044€342,380€233,602€187,872€376,170▲ 100%
Amounts payable after more than one year17€295,149€180,499€84,395---
Financial debts170/4€295,149€180,499€84,395---
Amounts payable within one year42/48€149,895€161,882€149,206€187,872€376,170▲ 100%
Current portion of amounts payable after more than one year42€109,811€114,650€96,104€84,396--
Trade debts44€40,084€47,231€51,553€52,873€40,723▼ 23.0%
Suppliers440/4€40,084€47,231€51,553€52,873€40,723▼ 23.0%
Taxes, remuneration and social security45--€1,550€5,603€35,448▲ 533%
Taxes450/3--€1,550€5,603€35,448▲ 533%
Other amounts payable47/48---€45,000€300,000▲ 567%
Line20212022202320242025Change
Profit (loss) for the period9904-€13,313€9,670-€16,940€36,807€157,069▲ 327%
+ Depreciation and write-downs630€152,668€160,840€169,458€125,605--
Operating cash flow (approximation)€139,355€170,511€152,517€162,412€157,069▼ 3.3%
Investment in fixed assets (approximation)-€0€0---
Change in cash--€62,164€67,599€50,474€33,368▼ 33.9%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
21-05
NBB filing Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial Highest result since 2018net €157,069 ▲327%
Operating result €173,206, net result €157,069, both a record.
16-05
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial Back to profitnet €36,807
Net result €36,807 after one loss-making year.
22-05
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial Weakest financial yearnet -€16,940
Net result drops to -€16,940, the lowest in the series; recovery starts the following year.
22-05
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial Back to profitnet €9,670
Net result €9,670 after 2 loss-making years.
12-07
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
07-06
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
28-09
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema · 59 days late
20-04
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema · 264 days late
2018
20-07
NBB filing Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 9 acts read
About the unread acts

We know of 9 Belgian State Gazette acts for this company. None of them has 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.

Directors · office · real estate

Directors
9 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, Heusden-Zolder · 1 establishment unit since 2009
seat establishment The establishment unit on the map
Ground area
3,741 m²
Building footprint
1,634 m²
Parcel 71065B1051/00M000, Flanders. Linked by address, not a title deed.
1 establishment unit
RE - SOLE
De Lange Beemden 14.1, 3550 Heusden-ZolderProduction of electricity from non-renewable sources
since 20092.184.542.839
1 parcel
Flanders 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
71065B1051/00M000 Flanders 3,741 m² 1 · 1,634 m² -
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 PATRONALE LIFE 62 companies Group, risk and exposure

Owners and holdings

1 owner

Chain of control

  1. PATRONALE LIFE 74.48%
  2. INFRA ENERGY INVEST 56.14%
  3. ENERGY SOLUTIONS GROUP 100%
  4. PATRONALE SOLAR 100%
  5. RE-SOLE

Highest known parent: PATRONALE LIFE. The sources do not say who stands above it.

Owners 1

Holdings 0

The accounts to 31-12-2025 list no holdings, and no other source names one.

According to the 2025 annual accounts of RE-SOLE 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.

Similar companies · same sector, comparable size

Of 814 companies in sector 35110 we hold annual accounts for 631. 283 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded04-11-2009
Fiscal year end31-12
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
35130Electricity, gas, steam and air conditioning supply
35150Electricity, gas, steam and air conditioning supply
E-invoicing
Reachable via Peppol
Peppol ID 0208:0820369481

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.