RECITECH
ActiveThe file of RECITECH contains 2 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 14.9% (high). The 2025 annual accounts show equity of €4.3m and a net result of -€5,651. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 95% of 231 sector peers (fiscal year 2025).
Checked score
Score 2025
44
/ 100
Weak
A high bankruptcy probability caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability58▼-3
Solvency100=
Growth50▼-19
Track record60
Bankruptcy probability, 12 months
14.9%
High
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days only on tighter terms
Liquidity ample (current ratio 15.97 against 11.67 in 2024; short-term debt: 5.9% of total assets), and 8.1% of the assets are financed with debt.
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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
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
91.9%
Return on assets
-0.1%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 38
Relative position
BE, all sectors
reference
Waste collection, recovery and disposal activities (NACE 38)
about 10% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
23 d early
2023
6 d early
2022
39 d early
2021
46 d early
2020
54 d early
2019
66 d early
← 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 38 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 32% 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 monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#10 oldest company in Limburg, Water and waste sector
Turnover
€1.5m▼ 9.2%
2024 · €1.7m
EBIT margin
-1.0%▼ 3.0pp
2024 · 2.1%
Net result
-€5,651
2024 · €50,543
Working capital
€4.2m▲ 0.8%
2024 · €4.1m
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€1.5m▲ 22.2%€1.6m▲ 9.5%€2.1m▲ 28.4%€1.7m▼ 19.5%€1.5m▼ 9.2%
Operating result€152,882▲ 147%-€78,533-€84,647▼ 7.8%€34,055-€14,674
Net result€128,373▲ 107%-€57,120-€63,479▼ 11.1%€50,543-€5,651
EBIT margin10.4%▲ 5.3pp-4.9%▼ 15.3pp-4.1%▲ 0.8pp2.1%▲ 6.2pp-1.0%▼ 3.0pp
Equity€4.4m▲ 3.0%€4.4m▼ 1.3%€4.3m▼ 1.5%€4.3m▲ 1.2%€4.3m▼ 0.1%
Total assets€4.8m▲ 2.3%€4.8m▼ 0.4%€4.8m▼ 0.5%€4.7m▼ 0.4%€4.7m▼ 0.2%
Debt€376,577▼ 4.8%€414,729▲ 10.1%€456,634▲ 10.1%€387,741▼ 15.1%€382,242▼ 1.4%
Working capital€4.3m▲ 2.2%€4.3m▼ 1.6%€4.2m▼ 1.3%€4.1m▼ 2.2%€4.2m▲ 0.8%
Staff (FTE)7.2▼ 6.5%7.2=8▲ 11.1%8=7.6▼ 5.0%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €14,674 after €34,055 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.7m
Fixed assets
€297,870 ▲ 28.4%
Current assets
€4.4m ▼ 1.7%
Equity and liabilities €4.7m
Equity
€4.3m ▼ 0.1%
Debt
€382,242 ▼ 1.4%
Debt's share of the balance-sheet total falls from 8.2% to 8.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€60,048▼
2024 · €90,305
Cash flow
€69,071▼
2024 · €106,793
Current ratio
15.97▲
2024 · 11.67
Quick ratio
15.91▲
2024 · 11.56
Debt to equity
0.09▼
2024 · 0.09
ROE
-0.1%▼
2024 · 1.2%
ROA
-0.1%▼
2024 · 1.1%
Interest coverage
125.69▼
2024 · 189.57
Debt ≤ 1 year
€277,308▼
2024 · €386,089
Debt > 1 year
€101,962
Income taxes
€11,859▲
2024 · €3,500
Staff costs
€496,151▼
2024 · €519,895
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,304 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 14.9% 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%.
| 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 12,304 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
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €1.5m | €1.6m | €2.1m | €1.7m | €1.6m | ▼ 1.1% |
| Turnover70 | €1.5m | €1.6m | €2.1m | €1.7m | €1.5m | ▼ 9.2% |
| Other operating income74 | €15,645 | - | - | - | €500 | - |
| Non-recurring operating income76A | - | - | - | - | €133,718 | - |
| Operating charges60/66A | €1.3m | €1.7m | €2.1m | €1.6m | €1.7m | ▲ 1.9% |
| Goods for resale, raw materials and consumables60 | €131,322 | €221,257 | €301,272 | €155,001 | €136,829 | ▼ 11.7% |
| Purchases600/8 | €132,754 | €225,862 | €307,667 | €172,510 | €111,317 | ▼ 35.5% |
| Change in stocks: decrease (increase)609 | -€1,433 | -€4,605 | -€6,395 | -€17,509 | €25,512 | ▲ 246% |
| Services and other goods61 | €719,635 | €894,103 | €1.1m | €861,159 | €917,986 | ▲ 6.6% |
| Remuneration, social security and pensions62 | €397,836 | €473,551 | €547,582 | €519,895 | €496,151 | ▼ 4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,048 | €33,958 | €41,409 | €56,250 | €74,722 | ▲ 32.8% |
| Other operating charges640/8 | €55,602 | €61,610 | €111,396 | €33,292 | €30,363 | ▼ 8.8% |
| Operating profit (loss)9901 | €152,882 | -€78,533 | -€84,647 | €34,055 | -€14,674 | ▼ 143% |
| Financial income75/76B | €21,932 | €21,771 | €21,641 | €20,464 | €21,360 | ▲ 4.4% |
| Recurring financial income75 | €21,932 | €21,771 | €21,641 | €20,464 | €21,360 | ▲ 4.4% |
| Income from current assets751 | €21,867 | €21,771 | €21,620 | €20,464 | €21,360 | ▲ 4.4% |
| Other financial income752/9 | €65 | - | €20 | - | - | - |
| Financial charges65/66B | €873 | €620 | €472 | €476 | €478 | ▲ 0.3% |
| Recurring financial charges65 | €873 | €620 | €472 | €476 | €478 | ▲ 0.3% |
| Other financial charges652/9 | €873 | €620 | €472 | €476 | €478 | ▲ 0.3% |
| Profit (loss) for the period before taxes9903 | €173,941 | -€57,382 | -€63,479 | €54,043 | €6,208 | ▼ 88.5% |
| Income taxes67/77 | €45,568 | -€262 | - | €3,500 | €11,859 | ▲ 239% |
| Taxes670/3 | €45,568 | - | - | €3,500 | €11,859 | ▲ 239% |
| Tax adjustments and reversals of tax provisions77 | - | €262 | - | - | - | - |
| Profit (loss) for the period9904 | €128,373 | -€57,120 | -€63,479 | €50,543 | -€5,651 | ▼ 111% |
| Profit (loss) for the period to be appropriated9905 | €128,373 | -€57,120 | -€63,479 | €50,543 | -€5,651 | ▼ 111% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.8m | €4.8m | €4.8m | €4.7m | €4.7m | ▼ 0.2% |
| Fixed assets21/28 | €86,096 | €99,192 | €114,190 | €232,066 | €297,870 | ▲ 28.4% |
| Tangible fixed assets22/27 | €86,096 | €99,192 | €114,190 | €232,066 | €297,870 | ▲ 28.4% |
| Land and buildings22 | €4,848 | €4,026 | €3,203 | €24,785 | €21,849 | ▼ 11.8% |
| Plant, machinery and equipment23 | €77,867 | €93,255 | €110,179 | €207,060 | €276,021 | ▲ 33.3% |
| Furniture and vehicles24 | €3,381 | €1,911 | €808 | €220 | €0 | ▼ 100.0% |
| Current assets29/58 | €4.7m | €4.7m | €4.6m | €4.5m | €4.4m | ▼ 1.7% |
| Stocks and contracts in progress3 | €13,413 | €18,018 | €24,413 | €41,922 | €16,411 | ▼ 60.9% |
| Stocks30/36 | €13,413 | €18,018 | €24,413 | €41,922 | €16,411 | ▼ 60.9% |
| Raw materials and consumables30/31 | €13,413 | €18,018 | €24,413 | €41,922 | €16,411 | ▼ 60.9% |
| Amounts receivable within one year40/41 | €4.7m | €4.7m | €4.6m | €4.5m | €4.4m | ▼ 1.1% |
| Trade receivables40 | €176,954 | €184,923 | €196,307 | €155,611 | €153,982 | ▼ 1.0% |
| Other amounts receivable41 | €4.5m | €4.5m | €4.4m | €4.3m | €4.3m | ▼ 1.1% |
| Deferred charges and accrued income490/1 | €9,382 | €7,222 | €10,304 | €10,681 | €6,285 | ▼ 41.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.8m | €4.8m | €4.8m | €4.7m | €4.7m | ▼ 0.2% |
| Equity10/15 | €4.4m | €4.4m | €4.3m | €4.3m | €4.3m | ▼ 0.1% |
| Contributions10/11 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Capital10 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Issued capital100 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves13 | €129,000 | €129,000 | €129,000 | €129,000 | €129,000 | = |
| Non-distributable reserves130/1 | €129,000 | €129,000 | €129,000 | €129,000 | €129,000 | = |
| Legal reserve130 | €129,000 | €129,000 | €129,000 | €129,000 | €129,000 | = |
| Profit (loss) carried forward14 | €3.0m | €2.9m | €2.9m | €2.9m | €2.9m | ▼ 0.2% |
| Amounts payable17/49 | €376,577 | €414,729 | €456,634 | €387,741 | €382,242 | ▼ 1.4% |
| Amounts payable after more than one year17 | - | - | - | - | €101,962 | - |
| Trade debts175 | - | - | - | - | €67,612 | - |
| Suppliers1750 | - | - | - | - | €67,612 | - |
| Other amounts payable178/9 | - | - | - | - | €34,350 | - |
| Amounts payable within one year42/48 | €375,312 | €412,229 | €430,850 | €386,089 | €277,308 | ▼ 28.2% |
| Trade debts44 | €243,546 | €310,988 | €346,499 | €314,361 | €199,708 | ▼ 36.5% |
| Suppliers440/4 | €243,546 | €310,988 | €346,499 | €314,361 | €199,708 | ▼ 36.5% |
| Taxes, remuneration and social security45 | €131,766 | €101,241 | €84,351 | €71,728 | €77,600 | ▲ 8.2% |
| Taxes450/3 | €41,737 | €33,654 | €5,083 | €13,967 | €1,542 | ▼ 89.0% |
| Remuneration and social security454/9 | €90,029 | €67,587 | €79,269 | €57,761 | €76,059 | ▲ 31.7% |
| Accrued charges and deferred income492/3 | €1,265 | €2,500 | €25,783 | €1,652 | €2,972 | ▲ 79.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €128,373 | -€57,120 | -€63,479 | €50,543 | -€5,651 | ▼ 111% |
| + Depreciation and write-downs630 | €25,048 | €33,958 | €41,409 | €56,250 | €74,722 | ▲ 32.8% |
| Operating cash flow (approximation) | €153,422 | -€23,161 | -€22,070 | €106,793 | €69,071 | ▼ 35.3% |
| Investment in fixed assets (approximation) | - | -€47,054 | -€56,407 | -€174,126 | -€140,527 | ▲ 19.3% |
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
Next filing, fiscal year 2026, expected by
2026
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
03-07
Judicial reorganisation
Plan homologation
Ondernemingsrechtbank Antwerpen · event 27-06-2025
2024
31-12
Financial
Back to profitnet €50,543
Net result €50,543 after 2 loss-making years.
30-12
Judicial reorganisation
Opening
Ondernemingsrechtbank Antwerpen · collective agreement · event 20-12-2024
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€63,479
Net result drops to -€63,479, the lowest in the series; recovery starts the following year.
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €128,373 ▲107%
Operating result €152,882, net result €128,373, both a record.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
18-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
13-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 12 acts read
About the unread acts
We know of 12 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
12 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, Dilsen-Stokkem · 1 establishment unit since 1989
Ground area
2.0 ha
Building footprint
2,264 m²
Volume, LiDAR
21,935 m³
Parcel 72005C0044/00P002, Flanders · tallest building 10.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
RECITECH
since 19892.043.913.427
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72005C0044/00P002 | Flanders | 2.0 ha | 1 · 2,264 m² | 10.9 m · 3 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.
Structure & network
Part of the group
Gimv
58 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- Gimv
- ALRO INTERNATIONAL
- ALRO HOLDINGS
- ALRO
- RECITECH
Highest known parent: Gimv. The sources do not say who stands above it.
Owners 2
- ALROparentSourceaccounts ALRO 202599.99%
-
0.01%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
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Of 978 companies in sector 38210 we hold annual accounts for 585. 341 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
Founded09-06-1989
Fiscal year end31-12
Activities, NACEBEL 2025
37000Sewerage
38210Materials recovery from waste
E-invoicing
Reachable via Peppol
Peppol ID
0208:0437726851
Also
9925:BE0437726851
Registered
17-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.