Recinco
ActiveRecinco has been active since 1971 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €865k and a net result of €174k. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 74% of 7760 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
75
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability71▲+71
Solvency90▲+23
Growth58▲+23
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days acceptable
Liquidity ample (current ratio 4.81 against 2.03 in 2024; short-term debt: 20% and cash: 1.3% of total assets), and 35.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
64.5%
Return on assets
13%
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 20-02-2026, 161 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
161 d early
2024
1 d early
2023
27 d early
2022
46 d early
2021
80 d early
2020
31 d early
2019
1 d early
← before the deadline
after the deadline →
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 monthsPosition in the running window
22-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€4.33M▲ 156%
2024 · €1.69M
2020: €5.39M
2021: €3.04M
2022: €1.68M
2023: €1.47M
2024: €1.69M
2020 → 2025
EBIT margin
4.8%▲ 37.3pp
2024 · -32.5%
2020: 18.2%
2021: 6.8%
2022: 2.6%
2023: 1.7%
2024: -32.5%
2020 → 2025
Net result
€174k
2024 · €-553k
2018: €155k
2019: €362k
2020: €726k
2021: €152k
2022: €20k
2023: €16k
2024: €-553k
2018 → 2025
Working capital
€1.02M▲ 18.8%
2024 · €858k
2018: €900k
2019: €1.36M
2020: €1.90M
2021: €1.90M
2022: €1.64M
2023: €1.47M
2024: €858k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€3.04M-€1.68M▼ 44.7%€1.47M▼ 12.7%€1.69M▲ 15.5%€4.33M▲ 156%
Equity€1.26M-€1.28M▲ 1.6%€1.29M▲ 1.3%€740k▼ 42.8%€865k▲ 16.8%
Operating result€206k-€43k▼ 79.1%€25k▼ 42.2%€-550k€207k
Net result€152k-€20k▼ 86.9%€16k▼ 18.6%€-553k€174k
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €207k after a loss of €550k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.34M
Fixed assets
€54k▼ 16.2%
Current assets
€1.29M▼ 23.7%
Equity and liabilities €1.34M
Equity
€865k▲ 16.8%
Provisions
€177k▼ 2.1%
Debt
€298k▼ 64.1%
The debt ratio falls from 47.4% to 22.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€240k▲
2024 · €-523k
Cash flow
€207k▲
2024 · €-526k
Solvency
64.5%▲
2024 · 42.3%
Current ratio
4.81▲
2024 · 2.03
Quick ratio
2.61▲
2024 · 1.07
Debt / equity
0.34▼
2024 · 1.12
ROE
20.2%▲
2024 · -74.7%
ROA
13.0%▲
2024 · -31.6%
Interest coverage
7.58▲
2024 · -50.22
Debt
€298k▼
2024 · €830k
Debt ≤ 1 year
€268k▼
2024 · €830k
Income taxes
€7k▲
2024 · €5k
Staff costs
€1.04M▲
2024 · €853k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.75M€1.34M▼
Fixed assets21/28€64k€54k▼
Tangible fixed assets22/27€64k€54k▼
Land and buildings22€4k€3k▼
Plant, machinery and equipment23€26k€19k▼
Furniture and vehicles24€28k€27k▼
Other tangible fixed assets26€6k€5k▼
Current assets29/58€1.69M€1.29M▼
Stocks and contracts in progress3€801k€587k▼
Stocks30/36€728k€402k▼
Contracts in progress37€73k€185k▲
Amounts receivable within one year40/41€780k€21k▼
Trade receivables40€778k€0▼
Other amounts receivable41€2k€21k▲
Current investments50/53€2k€650k▲
Cash at bank and in hand54/58€78k€18k▼
Deferred charges and accrued income490/1€27k€11k▼
Equity and liabilities
Total equity and liabilities10/49€1.75M€1.34M▼
Equity10/15€740k€865k▲
Contributions10/11€248k€248k=
Capital10€248k€248k=
Issued capital100€248k€248k=
Reserves13€248k€248k=
Non-distributable reserves130/1€25k€25k=
Legal reserve130€25k€25k=
Reserves not available under the articles1311€322€322=
Distributable reserves133€223k€223k=
Profit (loss) carried forward14€245k€369k▲
Provisions and deferred taxes16€181k€177k▼
Provisions for liabilities and charges160/5€181k€177k▼
Other liabilities and charges164/5€181k€177k▼
Amounts payable17/49€830k€298k▼
Amounts payable within one year42/48€830k€268k▼
Financial debts43€455k€0▼
Credit institutions430/8€455k€0▼
Trade debts44€219k€110k▼
Suppliers440/4€219k€110k▼
Taxes, remuneration and social security45€156k€108k▼
Taxes450/3€43k€9k▼
Remuneration and social security454/9€113k€99k▼
Other amounts payable47/48-€50k
Accrued charges and deferred income492/3-€30k
Income statement
Code20242025
Turnover70€1.69M€4.33M▲
Goods, raw materials, services and sundry goods60/61€1.44M€3.07M▲
Remuneration, social security and pensions62€853k€1.04M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€28k€32k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-55k€-4k▲
Other operating charges640/8€12k€12k▲
Gross operating margin9900€287k€1.29M▲
Operating profit (loss)9901€-550k€207k▲
Financial income75/76B€12k€6k▼
Recurring financial income75€12k€6k▼
Financial charges65/66B€10k€32k▲
Recurring financial charges65€10k€32k▲
Profit (loss) for the period before taxes9903€-548k€182k▲
Income taxes67/77€5k€7k▲
Profit (loss) for the period9904€-553k€174k▲
Profit (loss) for the period to be appropriated9905€-553k€174k▲
Appropriation of the result
Profit (loss) to be appropriated9906€245k€419k▲
Profit (loss) brought forward from the previous period14P€798k€245k▼
Profit to be distributed694/7-€50k
Return on contributions (dividend)694-€25k
Other beneficiaries697-€25k
Social balance
Average headcount (FTE)908711.011.0=
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
20-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €174k
Net result €174k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 4.81
Current ratio from 2.03 to 4.81; short-term debt falls from €830k to €268k.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-553k ▼3521%
Net result drops to €-553k, the lowest in the series; recovery starts the following year.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Liquidity triplescurrent ratio 14.07
Current ratio from 4.26 to 14.07; short-term debt falls from €583k to €125k.
12-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €726k ▲101%
Operating result €983k, net result €726k, both a record.
31-12
Financial
Equity above €1MEq €1.27M ▲42.2%
3 profitable years in a row build equity to €1.27M.
30-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 58 days late
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Dendermonde · 1 establishment unit since 1982
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Hoogveld 59200 DendermondeGround area
3.4 ha
Building footprint
3,602 m²
Volume, LiDAR
28,512 m³
Parcel 42021A1003/00M000, Flanders · tallest building 12.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Recinco
since 19822.005.513.503
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42021A1003/00M000 | Flanders | 3.4 ha | 1 · 3,602 m² | 12.0 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 4,278 EUR awarded · 4,238 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,209 EUR | 1,245 EUR |
| 2024 | 1 | 1,433 EUR | 1,395 EUR |
| 2023 | 1 | 666 EUR | 822 EUR |
| 2022 | 1 | 970 EUR | 776 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 4,270 companies in sector 43230 we hold annual accounts for 1,240. 555 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded11-03-1971
Fiscal year end31-12
Activities, NACEBEL
20590Manufacture of chemicals and chemical products
24660
43230Insulation installation
43291Specialised construction activities
43421Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
3 entriesE-mail:info@recinco.be
Phone:052 22 01 27
Fax:052 22 61 13