Skip to content

Re:Source

Active
Public limited companyfounded 20224 yrs activeLembeekstraat 2, 8710 Wielsbeke, BelgiumKBO/BCE: BE 0779.748.752
Summary

The computed 12-month bankruptcy probability of Re:Source is 18.8% (high). The 2024 annual accounts show negative equity (-€750,963) and a net result of -€1.2m. Equity is shrinking by ~109.9% per year across the filed fiscal years. Its solvency ranks better than 9% of 809 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
Re:SourceActiveChecked score 12/100
Risk analysis ReportCompare

Overview

Activity
Manufacture of food products
NACE 10890Manufacture of food products NACE 10311
1 site
Size
€11.9mtotal assets 2024
Staff
3.1 FTE
Equity
-€750,963
Loss
-€1.2m
Turnover not published (abridged schema)
Financial health
12 Critical Checked score 2024
Bankruptcy chance 12 m
18.8%
Structure
Largest shareholder
IMSTO · 50%
Accounts 67 d overdue1 of 5 deeds read
Why 12- 2 changes of registered office in 24 months- Liquidity: current ratio 0.50, cash €20,607, halved- 1 financial year not filed after the legal deadline; latest accounts 60 days late; 1 of the last 3 late- Figures for FY 2024 (filed 29-09-2025)Show the evidence

Checked score

Score 2024
12 / 100
Critical
Probability in this band: over 15.0%
Better than 13% of its sector peers (NACE 10, micro)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2023
Weak
Solvency 19-20
equity -6.3% of total assets
Liquidity 29-62
short-term debt 44.2% · cash 0.2%
Profitability 6-2
return on assets -10.3%
Bankruptcy probability, 12 months
18.8% High
0%0.5%1.5%4%10%≥ 25%

About 1 in 5 comparable companies go bankrupt within 12 months (an estimate).

Sector median 1.1% (3,069 companies)
Last 24 months 11-2024: 1.3%lowest value 12-2024: 1.3%● 0.0% vs 11-2024lowest value 01-2025: 1.3%● 0.0% vs 12-2024lowest value 02-2025: 1.3%● 0.0% vs 01-2025lowest value 03-2025: 1.5%▲ +15.7% vs 02-2025 04-2025: 1.9%▲ +27.4% vs 03-2025 05-2025: 2.2%▲ +15.1% vs 04-2025 06-2025: 2.8%▲ +31.3% vs 05-2025 07-2025: 3.0%▲ +7.0% vs 06-2025 08-2025: 3.9%▲ +28.4% vs 07-2025 09-2025: 3.6%▼ -8.5% vs 08-2025 10-2025: 8.6%▲ +141% vs 09-2025 11-2025: 8.6%● 0.0% vs 10-2025 12-2025: 8.6%● 0.0% vs 11-2025 01-2026: 8.6%● 0.0% vs 12-2025 02-2026: 8.6%● 0.0% vs 01-2026 03-2026: 8.7%▲ +1.0% vs 02-2026 04-2026: 16.0%▲ +83.3% vs 03-2026 05-2026: 16.1%▲ +0.7% vs 04-2026 06-2026: 16.8%▲ +4.6% vs 05-2026 07-2026: 16.4%▼ -2.2% vs 06-2026 08-2026: 15.9%▼ -2.9% vs 07-2026 09-2026: 16.4%▲ +2.5% vs 08-2026 10-2026: 18.8%▲ +14.8% vs 09-2026highest value
  • 2 changes of registered office in 24 months raises the probability
  • Liquidity: current ratio 0.50, cash €20,607, halved raises the probability
  • 1 financial year not filed after the legal deadline; latest accounts 60 days late; 1 of the last 3 late raises the probability
  • Figures for FY 2024 (filed 29-09-2025) raises the probability
No credit on open account
Liquidity short (current ratio 0.5 against 8.87 in 2023; short-term debt: 44.2% and cash: 0.2% of total assets), and equity is negative.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 10, micro). Better than this share of them on solvency 16%, liquidity 20%, profitability 14%, growth against the median 3%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 05-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

Credit check for your own amount and term

Show the recommended maximum : and see how the verdict changes with amount, term and advance.

Signals

Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · 2 changes of registered office in 24 months
In the bankruptcy model this factor raises the probability.
Belgian State Gazette
raises risk · Liquidity: current ratio 0.50, cash €20,607, halved
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 1 financial year not filed after the legal deadline; latest accounts 60 days late; 1 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Figures for FY 2024 (filed 29-09-2025)
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024
Equity per financial year
222324
2022 to 2024 · latest year -€750,963
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filings
Deviation from the deadline
2025
not confirmed
2024
60 d late
2023
26 d late
2022
5 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 27 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.

Checked, nothing found (1)
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
  1. Permanent representative: Ewoud DE GUSSEMRegistered-office move
  2. Annual accounts filedfiscal year 2024 · abbreviated…
  3. Weakest financial yearnet -€1.2m

Key points

  • Risk: Negative equityfiscal year 2024: debts exceed assets -€750,963 View
  • Risk: 3 loss-making years in a rowloss fiscal year 2024 -€1.2m View
  • Caution: Result fell in 2024from -€285,113 to -€1.2m ▼ 332% View
  • Caution: Among the weakest 5% on net resultsector median €72,824 · 809 companies -€1.2m View
  • Caution: Accounts not fileddeadline was 31-07-2026 67 d late View
  • Flemish supportawarded 2022 - 2025 €166,254 View

By topic

Financials

Fiscal year
2024
Total assets
€11.9m
Loss
-€1.2m
Solvency
-6.3%
Total assets▲ 252%
Net result
20222024
Go to Financials

Timeline

Events
6
Since
2023
  1. 12-03-2026Permanent representative: Ewoud DE GUSSEM
  2. 29-09-2025Annual accounts filed
  3. 31-12-2024Weakest financial year
Go to Timeline

Company details

Sites
1
Legal form
Public limited company
Activity
Manufacture of food productsNACE 10890
Founded
05-01-2022
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies How does this company compare with its sector?Sector benchmark

Your own company? See how customers, suppliers and banks see it and what to improve first.

Investigating this company? Keep it with today's facts in a case file.

We would like to set cookies. That happens only with your consent. What we measure