RE-SOURCE
ActiveSummary
RE-SOURCE has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €121,997 and a net result of €3,871. Equity is growing by ~27.5% per year across the filed fiscal years. Its solvency ranks better than 33% of 37951 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability70▼-11
Solvency63▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 2.13 against 2.09 in 2023; short-term debt: 21.3% and cash: 27.5% of total assets), but 61.7% 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+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
38.3%
Return on assets
1.2%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-09-2025, 54 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 · 10 filingsDeviation from the deadline
2025
not confirmed
2024
54 d late
2023
61 d late
2022
61 d late
2021
31 d late
2020
31 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 55 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€121,997▲ 1.8%
2023 · €119,793
Total assets
€318,573▼ 16.0%
2023 · €379,118
Net result
€3,871▼ 89.9%
2023 · €38,310
Working capital
€76,398▼ 24.2%
2023 · €100,744
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
Line20202021202220232024
Operating result€24,092▲ 189%€38,226▲ 58.7%€62,259▲ 62.9%€57,706▼ 7.3%€8,768▼ 84.8%
Net result€17,911▲ 7,499%€23,752▲ 32.6%€40,452▲ 70.3%€38,310▼ 5.3%€3,871▼ 89.9%
Equity€45,519▲ 54.5%€67,411▲ 48.1%€106,002▲ 57.2%€119,793▲ 13.0%€121,997▲ 1.8%
Total assets€366,123▼ 2.0%€368,164▲ 0.6%€380,400▲ 3.3%€379,118▼ 0.3%€318,573▼ 16.0%
Debt€320,604▼ 6.8%€299,253▼ 6.7%€272,898▼ 8.8%€257,825▼ 5.5%€195,076▼ 24.3%
Working capital€59,636▲ 30.5%€78,592▲ 31.8%€101,863▲ 29.6%€100,744▼ 1.1%€76,398▼ 24.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2024 is 85% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €318,573
Fixed assets
€174,299 ▼ 6.1%
Current assets
€144,274 ▼ 25.4%
Equity and liabilities €318,573
Equity
€121,997 ▲ 1.8%
Provisions
€1,500 =
Debt
€195,076 ▼ 24.3%
Debt's share of the balance-sheet total falls from 68.0% to 61.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€30,564▼
2023 · €89,788
Cash flow
€25,666▼
2023 · €70,392
Current ratio
2.13▲
2023 · 2.09
Debt to equity
1.60▼
2023 · 2.15
ROE
3.2%▼
2023 · 32.0%
ROA
1.2%▼
2023 · 10.1%
Interest coverage
8.82▼
2023 · 22.14
Debt ≤ 1 year
€67,876▼
2023 · €92,749
Debt > 1 year
€127,200▼
2023 · €162,938
Income taxes
€3,462▼
2023 · €15,990
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,100 | €29,927 | €29,088 | €32,082 | €21,795 | ▼ 32.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €1,500 | - | - | - | - |
| Other operating charges640/8 | - | €2,966 | €3,369 | €3,222 | €3,952 | ▲ 22.7% |
| Gross operating margin9900 | €56,968 | €72,619 | €94,715 | €93,010 | €34,516 | ▼ 62.9% |
| Operating profit (loss)9901 | €24,092 | €38,226 | €62,259 | €57,706 | €8,768 | ▼ 84.8% |
| Financial income75/76B | - | €491 | - | €650 | €2,030 | ▲ 212% |
| Recurring financial income75 | €386 | €491 | - | €650 | €2,030 | ▲ 212% |
| Financial charges65/66B | - | €5,161 | €4,476 | €4,056 | €3,466 | ▼ 14.5% |
| Recurring financial charges65 | €6,096 | €5,161 | €4,476 | €4,056 | €3,466 | ▼ 14.5% |
| Profit (loss) for the period before taxes9903 | €18,381 | €33,557 | €57,783 | €54,301 | €7,333 | ▼ 86.5% |
| Income taxes67/77 | €470 | €9,805 | €17,331 | €15,990 | €3,462 | ▼ 78.3% |
| Profit (loss) for the period9904 | €17,911 | €23,752 | €40,452 | €38,310 | €3,871 | ▼ 89.9% |
| Profit (loss) for the period to be appropriated9905 | €17,911 | €23,752 | €40,452 | €38,310 | €3,871 | ▼ 89.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €366,123 | €368,164 | €380,400 | €379,118 | €318,573 | ▼ 16.0% |
| Fixed assets21/28 | €255,203 | €225,276 | €205,908 | €185,626 | €174,299 | ▼ 6.1% |
| Tangible fixed assets22/27 | €232,003 | €202,076 | €182,708 | €162,426 | €151,099 | ▼ 7.0% |
| Land and buildings22 | - | €160,095 | €148,097 | €136,099 | €125,913 | ▼ 7.5% |
| Plant, machinery and equipment23 | - | - | €706 | €445 | €1,513 | ▲ 240% |
| Furniture and vehicles24 | - | €506 | €4,669 | €2,133 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | €41,475 | €29,235 | €23,749 | €23,674 | ▼ 0.3% |
| Financial fixed assets28 | €23,200 | €23,200 | €23,200 | €23,200 | €23,200 | = |
| Current assets29/58 | €110,919 | €142,888 | €174,493 | €193,492 | €144,274 | ▼ 25.4% |
| Amounts receivable within one year40/41 | €14,774 | €16,459 | €18,864 | €18,543 | €19,940 | ▲ 7.5% |
| Trade receivables40 | - | €16,456 | €18,852 | €18,526 | €13,342 | ▼ 28.0% |
| Other amounts receivable41 | - | €3 | €12 | €18 | €6,598 | ▲ 37,538% |
| Current investments50/53 | €34,539 | €34,539 | €34,539 | €34,539 | €34,539 | = |
| Cash at bank and in hand54/58 | €59,547 | €88,894 | €116,605 | €136,648 | €87,603 | ▼ 35.9% |
| Deferred charges and accrued income490/1 | - | €2,995 | €4,484 | €3,762 | €2,191 | ▼ 41.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €366,123 | €368,164 | €380,400 | €379,118 | €318,573 | ▼ 16.0% |
| Equity10/15 | €45,519 | €67,411 | €106,002 | €119,793 | €121,997 | ▲ 1.8% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €26,919 | €48,811 | €87,402 | €101,193 | €103,397 | ▲ 2.2% |
| Non-distributable reserves130/1 | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | €46,951 | €87,402 | €101,193 | €103,397 | ▲ 2.2% |
| Profit (loss) carried forward14 | -€14,047 | - | - | €0 | €0 | - |
| Provisions and deferred taxes16 | - | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Provisions for liabilities and charges160/5 | - | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Environmental obligations163 | - | - | - | €0 | - | - |
| Other liabilities and charges164/5 | - | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Amounts payable17/49 | €320,604 | €299,253 | €272,898 | €257,825 | €195,076 | ▼ 24.3% |
| Amounts payable after more than one year17 | €267,242 | €232,952 | €198,187 | €162,938 | €127,200 | ▼ 21.9% |
| Financial debts170/4 | - | €232,952 | €198,187 | €162,938 | €127,200 | ▼ 21.9% |
| Amounts payable within one year42/48 | €51,283 | €64,296 | €72,629 | €92,749 | €67,876 | ▼ 26.8% |
| Current portion of amounts payable after more than one year42 | - | €37,126 | €37,641 | €38,164 | €38,695 | ▲ 1.4% |
| Trade debts44 | €3,680 | €7,684 | €9,555 | €4,528 | €5,024 | ▲ 10.9% |
| Suppliers440/4 | - | €7,684 | €9,555 | €4,528 | €5,024 | ▲ 10.9% |
| Taxes, remuneration and social security45 | - | €18,028 | €25,354 | €31,530 | €10,523 | ▼ 66.6% |
| Taxes450/3 | - | €18,028 | €25,354 | €31,530 | €8,523 | ▼ 73.0% |
| Remuneration and social security454/9 | - | - | - | - | €2,000 | - |
| Other amounts payable47/48 | - | €1,458 | €80 | €18,526 | €13,635 | ▼ 26.4% |
| Accrued charges and deferred income492/3 | - | €2,005 | €2,082 | €2,138 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,911 | €23,752 | €40,452 | €38,310 | €3,871 | ▼ 89.9% |
| + Depreciation and write-downs630 | €30,100 | €29,927 | €29,088 | €32,082 | €21,795 | ▼ 32.1% |
| Operating cash flow (approximation) | €48,011 | €53,679 | €69,540 | €70,392 | €25,666 | ▼ 63.5% |
| Investment in fixed assets (approximation) | - | €0 | -€9,719 | -€11,800 | -€10,469 | ▲ 11.3% |
| Change in cash | - | €29,348 | €27,711 | €20,043 | -€49,044 | ▼ 345% |
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
2025
23-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 54 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Highest result since 2018net €40,452 ▲70.3%
Operating result €62,259, net result €40,452, both a record.
31-12
Financial
Equity above €100,000Eq €106,002 ▲57.2%
4 profitable years in a row build equity to €106,002.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
31-12
Financial
Back to profitnet €236
Net result €236 after one loss-making year.
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 58 days late
2018
23-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 23 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
2016
28-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Ganshoren · 1 establishment unit since 2004
Ground area
274 m²
Building footprint
80 m²
Volume, LiDAR
871 m³
Parcel 21008A0141/00B003, Brussels · tallest building 13.5 m, ±4 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
RE-SOURCE.BE
since 20042.138.038.960
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21008A0141/00B003 | Brussels | 273 m² | 1 · 80 m² | 13.5 m · 4 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 82,632 companies in sector 70200 we hold annual accounts for 52,587. 40,853 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
Founded23-03-2004
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.