RECOFIX
ActiveSummary
RECOFIX has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €211,010 and a net result of €3,081. Equity is growing by about 25% per year across the filed financial years. Its solvency ranks better than 28% of 39,121 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, micro format
Equity
€211,010▼ 5.8%
2024 · €223,929
Total assets
€782,825▲ 13.4%
2024 · €690,516
Net result
€3,081▼ 96.0%
2024 · €76,765
Working capital
-€217,990▼ 55.8%
2024 · -€139,907
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 94% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€5,842
2025
Net result€3,081
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€782,825
2025
Equity€211,010
2025
Debt€525,815
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€217,990
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)0.4%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency27.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.59
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€11,264-€13,743▲ 22.0%€10,487▼ 23.7%€32,138▲ 206%€91,051▲ 183%€97,869▲ 7.5%€5,842▼ 94.0%
Net result€1,363-€5,290within the sector's middle half▲ 288%€1,156below the sector's middle half▼ 78.2%€17,743within the sector's middle half▲ 15×€63,289above the sector's middle half▲ 257%€76,765above the sector's middle half▲ 21.3%€3,081below the sector's middle half▼ 96.0%
Equity€73,483-€75,976within the sector's middle half▲ 3.4%€66,131within the sector's middle half▼ 13.0%€83,875within the sector's middle half▲ 26.8%€147,164within the sector's middle half▲ 75.5%€223,929within the sector's middle half▲ 52.2%€211,010within the sector's middle half▼ 5.8%
Total assets€203,385-€235,161within the sector's middle half▲ 15.6%€667,688above the sector's middle half▲ 184%€648,452above the sector's middle half▼ 2.9%€666,439above the sector's middle half▲ 2.8%€690,516above the sector's middle half▲ 3.6%€782,825above the sector's middle half▲ 13.4%
Debt€83,902-€113,185▲ 34.9%€555,557▲ 391%€518,577▼ 6.7%€473,276▼ 8.7%€420,587▼ 11.1%€525,815▲ 25.0%
Working capital€93,285-€81,475within the sector's middle half▼ 12.7%-€239,205below the sector's middle half-€290,599below the sector's middle half▼ 21.5%-€195,242below the sector's middle half▲ 32.8%-€139,907below the sector's middle half▲ 28.3%-€217,990below the sector's middle half▼ 55.8%
Solvency36.1%-32.3%within the sector's middle half▼ 3.8pp9.9%below the sector's middle half▼ 22.4pp12.9%below the sector's middle half▲ 3.0pp22.1%below the sector's middle half▲ 9.1pp32.4%within the sector's middle half▲ 10.3pp27.0%within the sector's middle half▼ 5.5pp
Current ratio3.41-2.67within the sector's middle half▼ 0.740.33below the sector's middle half▼ 2.340.21below the sector's middle half▼ 0.110.46below the sector's middle half▲ 0.250.60below the sector's middle half▲ 0.130.59below the sector's middle half▼ 0.01
Return on assets (ROA)0.7%-2.2%within the sector's middle half▲ 1.6pp0.2%below the sector's middle half▼ 2.1pp2.7%within the sector's middle half▲ 2.6pp9.5%within the sector's middle half▲ 6.8pp11.1%within the sector's middle half▲ 1.6pp0.4%below the sector's middle half▼ 10.7pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €782,825
Fixed assets
€475,000 ▼ 1.7%
Current assets
€307,825 ▲ 48.4%
Equity and liabilities €782,825
Equity
€211,010 ▼ 5.8%
Provisions
€46,000 =
Debt
€525,815 ▲ 25.0%
Debt's share of the balance-sheet total rises from 60.9% to 67.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€5,842▼
2024 · €108,807
Cash flow
€3,081▼
2024 · €87,704
Debt to equity
2.49▲
2024 · 1.88
ROE
1.5%▼
2024 · 34.3%
Interest coverage
3.57▼
2024 · 51.18
Debt ≤ 1 year
€525,815▲
2024 · €347,272
Debt > 1 year
€0▼
2024 · €73,315
Income taxes
€1,839▼
2024 · €19,674
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €10,000 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,490 | €21,182 | €28,148 | €27,090 | €26,614 | €10,939 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €2,529 | €2,183 | €2,659 | €1,295 | ▼ 51.3% |
| Non-recurring operating charges66A | - | - | - | - | - | €3,985 | €0 | ▼ 100% |
| Gross operating margin9900 | €44,115 | €37,565 | €40,111 | €61,756 | €119,848 | €115,451 | €7,137 | ▼ 93.8% |
| Operating profit (loss)9901 | €11,264 | €13,743 | €10,487 | €32,138 | €91,051 | €97,869 | €5,842 | ▼ 94.0% |
| Financial income75/76B | - | - | - | €116 | €241 | €697 | €716 | ▲ 2.7% |
| Recurring financial income75 | €159 | €173 | €225 | €116 | €241 | €697 | €716 | ▲ 2.7% |
| Financial charges65/66B | - | - | - | €2,867 | €3,074 | €2,126 | €1,637 | ▼ 23.0% |
| Recurring financial charges65 | €1,647 | €1,437 | €5,532 | €2,867 | €3,074 | €2,126 | €1,637 | ▼ 23.0% |
| Profit (loss) for the period before taxes9903 | €9,776 | €12,479 | €5,180 | €29,386 | €88,218 | €96,439 | €4,920 | ▼ 94.9% |
| Income taxes67/77 | €8,413 | €7,189 | €4,025 | €11,643 | €24,929 | €19,674 | €1,839 | ▼ 90.7% |
| Profit (loss) for the period9904 | €1,363 | €5,290 | €1,156 | €17,743 | €63,289 | €76,765 | €3,081 | ▼ 96.0% |
| Profit (loss) for the period to be appropriated9905 | €1,363 | €5,290 | €1,156 | €17,743 | €63,289 | €76,765 | €3,081 | ▼ 96.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €203,385 | €235,161 | €667,688 | €648,452 | €666,439 | €690,516 | €782,825 | ▲ 13.4% |
| Fixed assets21/28 | €71,417 | €104,928 | €551,780 | €569,689 | €498,075 | €483,151 | €475,000 | ▼ 1.7% |
| Tangible fixed assets22/27 | €71,417 | €104,928 | €76,780 | €49,689 | €23,075 | €8,151 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €45,000 | €20,274 | €8,151 | €0 | ▼ 100% |
| Other tangible fixed assets26 | - | - | - | €4,689 | €2,802 | €0 | - | - |
| Financial fixed assets28 | - | - | €475,000 | €520,000 | €475,000 | €475,000 | €475,000 | = |
| Current assets29/58 | €131,968 | €130,233 | €115,909 | €78,763 | €168,364 | €207,365 | €307,825 | ▲ 48.4% |
| Amounts receivable within one year40/41 | €64,130 | €54,372 | €68,336 | €54,428 | €81,977 | €120,078 | €295,504 | ▲ 146% |
| Trade receivables40 | - | - | - | €17,911 | €15,250 | €29,835 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €36,517 | €66,727 | €90,243 | €295,504 | ▲ 227% |
| Cash at bank and in hand54/58 | €67,047 | €71,942 | €39,863 | €15,932 | €80,465 | €84,343 | €11,776 | ▼ 86.0% |
| Deferred charges and accrued income490/1 | - | - | - | €8,403 | €5,922 | €2,945 | €544 | ▼ 81.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €203,385 | €235,161 | €667,688 | €648,452 | €666,439 | €690,516 | €782,825 | ▲ 13.4% |
| Equity10/15 | €73,483 | €75,976 | €66,131 | €83,875 | €147,164 | €223,929 | €211,010 | ▼ 5.8% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €57,860 | €57,860 | €57,860 | €75,600 | €138,889 | €138,889 | €122,889 | ▼ 11.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €73,740 | €138,889 | €138,889 | €122,889 | ▼ 11.5% |
| Profit (loss) carried forward14 | €9,423 | €11,916 | €2,071 | €2,075 | €2,075 | €78,840 | €81,921 | ▲ 3.9% |
| Provisions and deferred taxes16 | €46,000 | €46,000 | €46,000 | €46,000 | €46,000 | €46,000 | €46,000 | = |
| Provisions for liabilities and charges160/5 | - | - | - | €46,000 | €46,000 | €46,000 | €46,000 | = |
| Pensions and similar obligations160 | - | - | - | €46,000 | €46,000 | €46,000 | €46,000 | = |
| Amounts payable17/49 | €83,902 | €113,185 | €555,557 | €518,577 | €473,276 | €420,587 | €525,815 | ▲ 25.0% |
| Amounts payable after more than one year17 | €45,219 | €64,427 | €200,262 | €149,216 | €109,669 | €73,315 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €149,216 | €109,669 | €73,315 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €38,683 | €48,758 | €355,114 | €369,362 | €363,606 | €347,272 | €525,815 | ▲ 51.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €51,046 | €39,546 | €36,354 | €0 | ▼ 100% |
| Financial debts43 | - | - | - | - | €6,752 | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | €6,752 | €0 | - | - |
| Trade debts44 | €4,840 | €3,629 | €4,007 | €7,151 | €5,988 | €4,184 | €33,926 | ▲ 711% |
| Suppliers440/4 | - | - | - | €7,151 | €5,988 | €4,184 | €33,926 | ▲ 711% |
| Taxes, remuneration and social security45 | - | - | - | €19,822 | €17,989 | €11,842 | €8,763 | ▼ 26.0% |
| Taxes450/3 | - | - | - | €17,322 | €15,489 | €9,117 | €8,763 | ▼ 3.9% |
| Remuneration and social security454/9 | - | - | - | €2,500 | €2,500 | €2,725 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €291,343 | €293,331 | €294,893 | €483,126 | ▲ 63.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,363 | €5,290 | €1,156 | €17,743 | €63,289 | €76,765 | €3,081 | ▼ 96.0% |
| + Depreciation and write-downs630 | €29,490 | €21,182 | €28,148 | €27,090 | €26,614 | €10,939 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €30,854 | €26,472 | €29,304 | €44,834 | €89,903 | €87,704 | €3,081 | ▼ 96.5% |
| Investment in fixed assets (approximation) | - | -€54,693 | -€475,000 | -€45,000 | €45,000 | €3,985 | €8,151 | ▲ 105% |
| Change in cash | - | €4,896 | -€32,079 | -€23,931 | €64,533 | €3,878 | -€72,567 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 16 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00222234 |
| 30-09-2024 | micro format | 30-01-2025 | 2025-00015647 |
| 30-09-2023 | micro format | 05-03-2024 | 2024-00038975 |
| 30-09-2022 | micro format | 28-02-2023 | 2023-00032239 |
| 30-09-2021 | micro format | 18-03-2022 | 2022-08000363 |
| 30-09-2020 | micro format | 15-03-2021 | 2021-07600277 |
| 30-09-2019 | micro format | 17-03-2020 | 2020-06900297 |
| 30-09-2018 | micro format | 25-02-2019 | 2019-05600451 |
| 30-09-2017 | micro format | 16-03-2018 | 2018-06900378 |
| 30-09-2016 | abbreviated format | 22-03-2017 | 2017-06900471 |
Similar companies · same sector, comparable size
AVISCARE
BE 0782.653.210
Liège · equity €211,022
Marc Kobylinski
BE 0694.570.676
Waterloo · equity €210,993
Runini
BE 0728.839.687
Hoogstraten · equity €211,053
FJB Studio
BE 0802.646.987
Gent · equity €211,054
GL EXPERTISE
BE 0893.038.715
Ganshoren · equity €211,054
Of the 82,448 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 53,994. 40,505 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.