RECON
ActiveSummary
RECON has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.8m and a net result of €199,983. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 73% of 4209 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-1
Solvency84▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days acceptable
Liquidity ample (current ratio 2.54 against 2.67 in 2024; short-term debt: 37.9% and cash: 44.3% of total assets), and 41.3% 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 · 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← 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
58.7%
Return on assets
6.7%
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 28-07-2026, 3 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
3 d early
2024
22 d early
2023
36 d early
2022
24 d early
2021
6 d early
2020
29 d early
2019
22 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 20 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€199,983▼ 4.8%
2024 · €209,972
Working capital
€1.7m▲ 8.8%
2024 · €1.6m
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
Operating result€224,961▼ 43.8%€365,951▲ 62.7%€525,435▲ 43.6%€350,733▼ 33.2%€336,477▼ 4.1%
Net result€164,587▼ 42.5%€263,845▲ 60.3%€367,919▲ 39.4%€209,972▼ 42.9%€199,983▼ 4.8%
Equity€1.5m▲ 3.1%€1.6m▲ 6.0%€1.7m▲ 6.0%€1.7m▲ 3.6%€1.8m▲ 2.9%
Total assets€2.3m▲ 5.1%€2.6m▲ 11.8%€3.9m▲ 51.1%€2.8m▼ 29.9%€3.0m▲ 9.0%
Debt€789,293▲ 10.3%€958,415▲ 21.4%€2.2m▲ 129%€971,606▼ 55.6%€1.2m▲ 18.9%
Working capital€1.2m▼ 12.6%€1.4m▲ 15.0%€1.6m▲ 15.9%€1.6m▲ 0.3%€1.7m▲ 8.8%
Staff (FTE)11.7▲ 6.4%11.7=11.6▼ 0.9%10.9▼ 6.0%10.6▼ 2.8%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 4% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.0m
Fixed assets
€115,661 ▼ 38.0%
Current assets
€2.9m ▲ 12.4%
Equity and liabilities €3.0m
Equity
€1.8m ▲ 2.9%
Provisions
€87,458 ▲ 18.9%
Debt
€1.2m ▲ 18.9%
Debt's share of the balance-sheet total rises from 35.2% to 38.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€413,954▼
2024 · €432,647
Cash flow
€277,460▼
2024 · €291,886
Current ratio
2.54▼
2024 · 2.67
Quick ratio
1.57▲
2024 · 1.28
Debt to equity
0.66▲
2024 · 0.57
ROE
11.3%▼
2024 · 12.3%
ROA
6.7%▼
2024 · 7.6%
Interest coverage
14.63▲
2024 · 10.00
Debt ≤ 1 year
€1.1m▲
2024 · €963,533
Income taxes
€111,603▲
2024 · €98,500
Staff costs
€839,410▼
2024 · €853,599
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
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 20,082 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €81,072 | €64,474 | €136,324 | €58,318 | €64,410 | ▲ 10.4% |
| Remuneration, social security and pensions62 | €750,529 | €770,333 | €876,826 | €853,599 | €839,410 | ▼ 1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €58,357 | €95,146 | €78,416 | €81,914 | €77,477 | ▼ 5.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €3,230 | €342 | -€3,603 | -€12,145 | ▼ 237% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€6,008 | €15,947 | €5,208 | -€16,341 | €13,928 | ▲ 185% |
| Other operating charges640/8 | €37,511 | €38,175 | €45,022 | €46,385 | €47,903 | ▲ 3.3% |
| Non-recurring operating charges66A | €0 | - | €1,677 | €0 | €177 | - |
| Gross operating margin9900 | €1.1m | €1.3m | €1.5m | €1.3m | €1.3m | ▼ 0.7% |
| Operating profit (loss)9901 | €224,961 | €365,951 | €525,435 | €350,733 | €336,477 | ▼ 4.1% |
| Financial income75/76B | €437 | €392 | €1,072 | €1,025 | €3,394 | ▲ 231% |
| Recurring financial income75 | €437 | €392 | €1,072 | €1,025 | €3,394 | ▲ 231% |
| Financial charges65/66B | €10,061 | €11,644 | €28,836 | €43,286 | €28,285 | ▼ 34.7% |
| Recurring financial charges65 | €10,061 | €11,644 | €28,836 | €43,286 | €28,285 | ▼ 34.7% |
| Profit (loss) for the period before taxes9903 | €215,336 | €354,698 | €497,671 | €308,472 | €311,586 | ▲ 1.0% |
| Income taxes67/77 | €50,749 | €90,854 | €129,752 | €98,500 | €111,603 | ▲ 13.3% |
| Profit (loss) for the period9904 | €164,587 | €263,845 | €367,919 | €209,972 | €199,983 | ▼ 4.8% |
| Transfer from tax-exempt reserves789 | €37,451 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €202,038 | €263,845 | €367,919 | €209,972 | €199,983 | ▼ 4.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.3m | €2.6m | €3.9m | €2.8m | €3.0m | ▲ 9.0% |
| Fixed assets21/28 | €338,610 | €286,765 | €203,940 | €186,425 | €115,661 | ▼ 38.0% |
| Tangible fixed assets22/27 | €336,036 | €284,192 | €201,302 | €183,788 | €113,023 | ▼ 38.5% |
| Plant, machinery and equipment23 | €10,233 | €20,502 | €15,166 | €9,829 | €7,034 | ▼ 28.4% |
| Furniture and vehicles24 | €237,516 | €201,088 | €134,823 | €128,199 | €72,564 | ▼ 43.4% |
| Other tangible fixed assets26 | €88,287 | €62,601 | €51,314 | €45,759 | €33,425 | ▼ 27.0% |
| Financial fixed assets28 | €2,573 | €2,573 | €2,637 | €2,637 | €2,637 | = |
| Current assets29/58 | €2.0m | €2.3m | €3.7m | €2.6m | €2.9m | ▲ 12.4% |
| Stocks and contracts in progress3 | €790,464 | €843,732 | €2.0m | €1.3m | €1.1m | ▼ 18.1% |
| Stocks30/36 | €790,464 | €843,732 | €2.0m | €1.3m | €1.1m | ▼ 18.1% |
| Amounts receivable within one year40/41 | €392,465 | €385,261 | €1.2m | €240,075 | €414,071 | ▲ 72.5% |
| Trade receivables40 | €351,181 | €374,259 | €1.1m | €218,575 | €395,507 | ▲ 80.9% |
| Other amounts receivable41 | €41,284 | €11,001 | €70,202 | €21,500 | €18,565 | ▼ 13.7% |
| Cash at bank and in hand54/58 | €775,727 | €1.1m | €501,453 | €930,646 | €1.3m | ▲ 43.0% |
| Deferred charges and accrued income490/1 | €31,493 | €32,158 | €45,206 | €63,865 | €49,447 | ▼ 22.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.3m | €2.6m | €3.9m | €2.8m | €3.0m | ▲ 9.0% |
| Equity10/15 | €1.5m | €1.6m | €1.7m | €1.7m | €1.8m | ▲ 2.9% |
| Contributions10/11 | €599,764 | €599,764 | €599,764 | €599,764 | €599,764 | = |
| Capital10 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Issued capital100 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Outside capital11 | €524,764 | €524,764 | €524,764 | €524,764 | €524,764 | = |
| Share premium1100/10 | €524,764 | €524,764 | €524,764 | €524,764 | €524,764 | = |
| Reserves13 | €870,985 | €959,830 | €1.1m | €1.1m | €1.2m | ▲ 4.5% |
| Non-distributable reserves130/1 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Legal reserve130 | €7,500 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Tax-exempt reserves132 | €0 | - | - | - | - | - |
| Distributable reserves133 | €863,485 | €952,330 | €1.0m | €1.1m | €1.2m | ▲ 4.5% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €68,716 | €84,664 | €89,871 | €73,530 | €87,458 | ▲ 18.9% |
| Provisions for liabilities and charges160/5 | €68,716 | €84,664 | €89,871 | €73,530 | €87,458 | ▲ 18.9% |
| Environmental obligations163 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Other liabilities and charges164/5 | €43,716 | €59,664 | €64,871 | €48,530 | €62,458 | ▲ 28.7% |
| Amounts payable17/49 | €789,293 | €958,415 | €2.2m | €971,606 | €1.2m | ▲ 18.9% |
| Amounts payable within one year42/48 | €788,761 | €933,873 | €2.1m | €963,533 | €1.1m | ▲ 18.3% |
| Trade debts44 | €536,510 | €608,131 | €1.7m | €583,112 | €840,058 | ▲ 44.1% |
| Suppliers440/4 | €536,510 | €608,131 | €1.7m | €583,112 | €840,058 | ▲ 44.1% |
| Advances received on contracts in progress46 | €29,494 | €0 | €59,504 | €49,587 | €24,779 | ▼ 50.0% |
| Taxes, remuneration and social security45 | €102,757 | €150,742 | €111,691 | €180,835 | €124,561 | ▼ 31.1% |
| Taxes450/3 | €18,289 | €51,500 | €11,583 | €75,168 | €58,585 | ▼ 22.1% |
| Remuneration and social security454/9 | €84,468 | €99,243 | €100,108 | €105,667 | €65,976 | ▼ 37.6% |
| Other amounts payable47/48 | €120,000 | €175,000 | €275,000 | €150,000 | €150,000 | = |
| Accrued charges and deferred income492/3 | €532 | €24,541 | €63,836 | €8,073 | €15,607 | ▲ 93.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €164,587 | €263,845 | €367,919 | €209,972 | €199,983 | ▼ 4.8% |
| + Depreciation and write-downs630 | €58,357 | €95,146 | €78,416 | €81,914 | €77,477 | ▼ 5.4% |
| Operating cash flow (approximation) | €222,944 | €358,991 | €446,335 | €291,886 | €277,460 | ▼ 4.9% |
| Investment in fixed assets (approximation) | - | -€43,302 | €4,410 | -€64,399 | -€6,713 | ▲ 89.6% |
| Change in cash | - | €279,030 | -€553,304 | €429,193 | €399,850 | ▼ 6.8% |
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
28-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €367,919 ▲39.4%
Operating result €525,435, net result €367,919, both a record.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Weakest financial yearnet €164,587 ▼42.5%
Net result drops to €164,587, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-06
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.
0 of 6 acts read
About the unread acts
We know of 6 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
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, Oostende · 1 establishment unit since 1989
Ground area
4,499 m²
Building footprint
3,123 m²
Volume, LiDAR
18,666 m³
Parcel 35382D0715/00X000, Flanders · tallest building 7.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
GARAGE VOLVO
since 19892.044.422.676
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35382D0715/00X000 | Flanders | 4,499 m² | 1 · 3,123 m² | 7.7 m · 2 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
SOMO INVEST
15 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- SOMO INVEST
- RECON
Highest known parent: SOMO INVEST. The sources do not say who stands above it.
Owners 1
- SOMO INVESTparent99.67%
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 6,221 EUR awarded · 5,819 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,455 EUR | 1,326 EUR |
| 2024 | 1 | 1,466 EUR | 1,739 EUR |
| 2023 | 1 | 3,060 EUR | 2,544 EUR |
| 2022 | 1 | 240 EUR | 210 EUR |
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Of 10,664 companies in sector 47811 we hold annual accounts for 5,221. 2,458 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
Founded21-06-1989
Fiscal year end31-12
Activities, NACEBEL 2025
46711Wholesale of cars and light vans (up to 3.5 tonnes)
47811Retail sale of cars and light vans (up to 3.5 tonnes)
95311General maintenance and repair of cars and light vans (up to 3.5 tonnes)
95313Repair and fitting of specific motor vehicle parts
95314Bodywork repair (including spraying and painting)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0437837412
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.