RECIFAL-MUST

Active

Private limited companyfounded 2025active for 1 yearRue de la Madeleine 26, 4000 Liège, BelgiumKBO/BCE: BE 1020.408.227

Summary

The computed 12-month bankruptcy probability of RECIFAL-MUST is 2.6% (moderate). The 2025 annual accounts show negative equity (-€9,079) and a net result of -€14,079. Its solvency ranks better than 16% of 13,646 sector peers (NACE 46, financial year 2025). The company has been active since 2025 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow Report Compare

RECIFAL-MUSTActiveChecked score 50/100

Risk analysis Report Compare

Activity

Agents specialised in the wholesale of other particular products

NACE 46180

1 site

Size

€65,955total assets 2025

Equity: -€9,079
Loss: -€14,079

Turnover not published (micro format)

Financial health

50 Fair Checked score 2025

Bankruptcy probabilitywithin 12 months: 2.6%

Structure

CLAUDE Olivier Thierry Jacques JeanDirector
MATHY Rudy Claude FreddyDirector
OZTURK Alper NuriDirector

2025 accounts filed 28 days late

Why 50raises riskFounded in 2025Negative equity -€9,079lowers riskSize: total assets €65,955Figures for financial year 2025 (filed 01-09-2026)Show the evidence

Checked score

Score 2025

50 / 100

Fair

Probability in this band: 1.5% to 4.2%

Financially better than 10% of its sector peers (NACE 46, micro)

Every signal that counts is listed under Signals.

Financial strength

Weak

Solvency 11

equity -13.8% of total assets

Liquidity 11

short-term debt 81.0% · cash 4.2%

Profitability 0

return on assets -21.3%

Bankruptcy probability, 12 months

2.6% Moderate

0%0.5%1.5%4%10%≥ 25%

About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.4% (26,889 companies, NACE 46, micro)

Last 24 months 03-2026: 1.6%lowest value 04-2026: 1.6%● unchanged vs 03-2026lowest value 05-2026: 1.7%▲ +0.1 percentage points vs 04-2026 06-2026: 2.0%▲ +0.3 percentage points vs 05-2026 07-2026: 2.1%▲ +0.1 percentage points vs 06-2026 08-2026: 2.3%▲ +0.2 percentage points vs 07-2026 09-2026: 2.3%● unchanged vs 08-2026 10-2026: 2.6%▲ +0.3 percentage points vs 09-2026highest value

No credit on open account

Liquidity tight (current ratio 1.04, below the usual 1.5; short-term debt: 81% and cash: 4.2% of total assets), and equity is negative.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

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%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 46, micro): better than 13% on solvency, 12% on liquidity and 6% on profitability.

The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Six signals.

lowers riskraises risk

Founded in 2025

Companies of this age fail more often than older ones; how much that weighs depends on the rest of its profile.

KBO

Negative equity -€9,079

NBB · annual accounts

Size: total assets €65,955

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Figures for financial year 2025 (filed 01-09-2026)

NBB · annual accounts

Negative equity

The 2025 annual accounts show negative equity and a net loss.

NBB · annual accounts 2025

2025 accounts filed 28 days late

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.

NBB · 1 filing

Deviation from the deadline

2025

28 days late

← before the deadline after the deadline →

Searched, nothing found (1)

No strike-offs in the KBO publications

Searched since incorporation in 2025.

KBO publications · our coverage

28-08-2026 Annual accounts filedfinancial year 2025 · micro…
30-07-2026 Resignation: Olivier Claude (director)Gazette deed
27-02-2025 IncorporationAppointments: CLAUDE Olivier Thierry Jacques…

Key points

Risk: Negative equityfinancial year 2025: debts exceed assets -€9,079 View
Caution: Among the weakest 15% on net resultsector median €5,642 · 13,652 companies -€14,079 View
A director leftlatest change 30-04-2026 · 3 in office 1 left View

By topic

Financials

Financial year: 2025
Total assets: €65,955
Loss: -€14,079
Solvency: -13.8%

Go to Financials

Board & ownership

Board: 3 members

CLAUDE Olivier Thierry Jacques JeanDirector
MATHY Rudy Claude FreddyDirector
OZTURK Alper NuriDirector

Go to Board & ownership

Timeline

Events: 3
Since: 2025

Go to Timeline

Company details

Sites: 1

Legal form: Private limited company
Activity: Agents specialised in the wholesale of other particular…NACE 46180
Founded: 25-02-2025
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 49

Who signs: Two directors jointly
Annual meeting: Last Thursday of June at 20:00
Purpose: “Le commerce de détail en magasin spécialisé en produits pour les aquariums; L’activité…” (deed in French)
Statutory auditor: No statutory auditor

Go to Articles of association

Key facts about RECIFAL-MUST

What is the company number of RECIFAL-MUST?: 1020.408.227. In Belgium the VAT number is the company number with BE in front: BE 1020.408.227.
Where is RECIFAL-MUST based?: The registered office is at Rue de la Madeleine 26, 4000 Liège.Company details
What does RECIFAL-MUST do?: According to the KBO register, the main activity is agents specialised in the wholesale of other particular products (NACE 46180).
What is the legal form of RECIFAL-MUST?: Private limited company (BV).
When was RECIFAL-MUST founded?: On 25-02-2025.
Is RECIFAL-MUST still active?: Yes, RECIFAL-MUST is an active enterprise in the KBO register.
What is the turnover of RECIFAL-MUST?: Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.Financials
Is RECIFAL-MUST profitable?: In financial year 2025, RECIFAL-MUST made a loss of €14,079.
Where can I find the annual accounts of RECIFAL-MUST?: RECIFAL-MUST filed 1 annual account with the National Bank of Belgium, for financial year 2025.