RECUPAN
ActiveRECUPAN has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €671k and a net result of €117k. Equity is growing by ~20.6% per year across the filed fiscal years. Its solvency ranks better than 92% of 7971 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability88▲+6
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 5.05 against 3.2 in 2024; short-term debt: 9% and cash: 18.7% of total assets), and 9.5% 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 · 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
90.5%
Return on assets
15.7%
Age of the figures
15 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
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
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 24-02-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
10 d late
2023
21 d late
2022
3 d late
2021
10 d late
2020
26 d late
2019
6 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close19-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€671k▲ 16.8%
2024 · €575k
2019: €171k
2020: €216k
2021: €324k
2022: €422k
2023: €543k
2024: €575k
2019 → 2025
Total assets
€741k▲ 8.5%
2024 · €683k
2019: €255k
2020: €300k
2021: €417k
2022: €510k
2023: €680k
2024: €683k
2019 → 2025
Net result
€117k▲ 58.9%
2024 · €73k
2019: €42k
2020: €45k
2021: €116k
2022: €97k
2023: €122k
2024: €73k
2019 → 2025
Working capital
€269k▲ 47.4%
2024 · €183k
2019: €125k
2020: €165k
2021: €178k
2022: €187k
2023: €241k
2024: €183k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€324k-€422k▲ 30.1%€543k▲ 28.9%€575k▲ 5.7%€671k▲ 16.8%
Operating result€151k-€131k▼ 13.1%€176k▲ 34.3%€103k▼ 41.5%€175k▲ 69.5%
Net result€116k-€97k▼ 15.9%€122k▲ 25.0%€73k▼ 39.8%€117k▲ 58.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 70% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €741k
Fixed assets
€405k▼ 2.9%
Current assets
€336k▲ 26.4%
Equity and liabilities €741k
Equity
€671k▲ 16.8%
Debt
€70k▼ 35.3%
The debt ratio falls from 15.9% to 9.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€218k▲
2024 · €143k
Cash flow
€160k▲
2024 · €113k
Solvency
90.5%▲
2024 · 84.1%
Current ratio
5.05▲
2024 · 3.20
Quick ratio
3.75▲
2024 · 2.21
Debt / equity
0.10▼
2024 · 0.19
ROE
17.4%▲
2024 · 12.8%
ROA
15.7%▲
2024 · 10.7%
Interest coverage
58.11▲
2024 · 39.21
Debt
€70k▼
2024 · €108k
Debt ≤ 1 year
€67k▼
2024 · €83k
Debt > 1 year
€0▼
2024 · €25k
Income taxes
€54k▲
2024 · €26k
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€683k€741k▲
Fixed assets21/28€417k€405k▼
Intangible fixed assets21€3k€2k▼
Tangible fixed assets22/27€414k€403k▼
Land and buildings22€344k€350k▲
Plant, machinery and equipment23€2k€2k▼
Furniture and vehicles24€68k€51k▼
Current assets29/58€266k€336k▲
Stocks and contracts in progress3€82k€87k▲
Stocks30/36€82k€87k▲
Amounts receivable within one year40/41€85k€98k▲
Trade receivables40€68k€75k▲
Other amounts receivable41€17k€23k▲
Cash at bank and in hand54/58€93k€138k▲
Deferred charges and accrued income490/1€5k€13k▲
Equity and liabilities
Total equity and liabilities10/49€683k€741k▲
Equity10/15€575k€671k▲
Contributions10/11€19k€19k=
Reserves13€556k€652k▲
Non-distributable reserves130/1€0-
Reserves not available under the articles1311€0-
Distributable reserves133€556k€652k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€108k€70k▼
Amounts payable after more than one year17€25k€0▼
Financial debts170/4€25k€0▼
Amounts payable within one year42/48€83k€67k▼
Current portion of amounts payable after more than one year42€29k€25k▼
Financial debts43€175€503▲
Credit institutions430/8€175€503▲
Trade debts44€35k€17k▼
Suppliers440/4€35k€17k▼
Taxes, remuneration and social security45€3k€8k▲
Taxes450/3€3k€8k▲
Other amounts payable47/48€17k€17k▼
Accrued charges and deferred income492/3€685€4k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€40k€44k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€11k€728▼
Other operating charges640/8€4k€1k▼
Gross operating margin9900€158k€220k▲
Operating profit (loss)9901€103k€175k▲
Financial income75/76B€227€172▼
Recurring financial income75€227€172▼
Financial charges65/66B€4k€4k▲
Recurring financial charges65€4k€4k▲
Profit (loss) for the period before taxes9903€100k€171k▲
Income taxes67/77€26k€54k▲
Profit (loss) for the period9904€73k€117k▲
Profit (loss) for the period to be appropriated9905€73k€117k▲
Appropriation of the result
Profit (loss) to be appropriated9906€73k€117k▲
Transfer from equity791/2€42k€20k▼
Transfer to equity691/2€73k€117k▲
To other reserves6921€73k€117k▲
Profit to be distributed694/7€42k€20k▼
Return on contributions (dividend)694€42k€20k▼
The notes to these accounts (12 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
24-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
10-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 10 days late
2024
21-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 21 days late
2023
30-06
Financial
Highest result since 2019net €122k ▲25%
Operating result €176k, net result €122k, both a record.
30-06
Financial
Equity above €500kEq €543k ▲28.9%
5 profitable years in a row build equity to €543k.
03-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 3 days late
2022
10-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 10 days late
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 26 days late
2020
30-06
Financial
Equity above €200kEq €216k ▲26.2%
2 profitable years in a row build equity to €216k.
06-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 6 days late
2019
27-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 27 days late
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 27 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Waregem · 2 establishment units since 2010
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.
Pannewegel 508790 WaregemGround area
9,222 m²
Building footprint
1,022 m²
Volume, LiDAR
5,490 m³
2 parcels, Flanders · tallest building 13.7 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
BVBA Recupan
since 20102.191.199.514
de Prosdeye
since 20252.381.301.597
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34453F1026/00C000 | Flanders | 5,008 m² | 1 · 691 m² | 9.3 m · 1 fl. |
| 45039B0124/00B000 | Flanders | 4,214 m² | 1 · 331 m² | 13.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels 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
2025 · 1 entry · 47 EUR awarded · 47 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 47 EUR | 47 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteWortegem-Petegem2.381.301.597
Similar companies · same sector, comparable size
TRIFLEX
BE 0508.663.545
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BE 0437.631.732
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BALVINOX
BE 0424.742.214
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RODRIGUES - DE KIMPE
BE 0416.839.187
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P MAT
BE 0829.142.934
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Of 1,803 companies in sector 46831 we hold annual accounts for 1,397. 1,034 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-07-2010
Fiscal year end30-06
Activities, NACEBEL
46831Wholesale of construction materials, general range
70200Business and other management consultancy
70220Business consulting
82100Office administrative and support services
82110Office administrative, office support and other business support activities
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.