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RECURSIVE

Active Private limited companyfounded 2009active for 17 yearsFranklin Rooseveltlaan 190, 1050 BrusselsKBO/BCE: BE 0809.593.078
RECURSIVE
Financial year 2025
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Annual accounts 2025

micro format, filed on 30-09-2026, 61 days late
-€14,965
▼ €135,770
-€17,552
▼ €135,457
-€15,365
▼ €135,685
-€9,880
▼ €70,390
99.8%
▲ 7.4 percentage points
-

Turnover: not included in this filing.

Money flows

no detail for 2025

Balance sheet

balance sheet total €351,428 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

99.8%

Higher than 95% of 21,208 companies in 2025.

-

Higher than 92% of 19,921 companies in 2024.

-3.4%

Higher than 14% of 20,746 companies in 2025.

RECURSIVE Middle half of the sector 80% of the sector Micro accounts in computer programming and consultancy (NACE 62)

Net result: bottom quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: top quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009
Balance sheet: assets
20/58 351,428510,475489,262386,417351,946539,715438,435410,611386,783297,637221,485195,827152,71858,96365,45033,75462,524
21/28 4072,5955,0094551,1831,305787---2004006,21411,16113,83419,256327
22/27 4072,5955,0094556831,305787---2004006,21411,16113,83419,256327
23 --2284556831,305787---2004001,8022,3375991,609327
24 4072,5954,781---------4,4128,82413,23517,647-
28 ----500------------
29/58 351,021507,880484,253385,962350,763538,410437,648410,611386,783297,637221,285195,427146,50447,80251,61614,49862,198
40/41 107,12176,222105,50984,00944,07463,26784,13464,65193,77296,82182,71566,03523,1156,34113,54134355,998
40 107,12146,38362,31545,39313,00329,23015,93013,05047,00448,78745,69048,76717,533-5,70034355,000
41 -29,83943,19438,61631,07134,03768,20451,60146,76848,03437,02517,2685,5826,3417,841-998
54/58 243,900431,658378,744277,083306,689475,143353,514345,960293,011193,221133,400129,392121,96141,46138,07514,1556,200
490/1 ---24,870-----7,5955,170-1,428----
Balance sheet: equity and liabilities
10/49 351,428510,475489,262386,417351,946539,715438,435410,611386,783297,637221,485195,827152,71858,96365,45033,75462,524
10/15 350,660471,837413,742362,629310,456286,187399,877377,978360,310289,144214,828185,443149,50958,28865,38023,31556,322
10/11 6,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,200
10 --6,2006,2006,200------------
100 --18,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,60018,600
101 --12,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,40012,400
13 296,670405,965347,870296,756245,256199,25698,31076,66071,8601,8601,8601,8601,860----
130/1 1,8601,8601,8601,8601,8601,860-----------
130 --1,8601,8601,8601,8601,8601,8601,8601,8601,8601,8601,860----
1311 1,8601,860---------------
133 294,810404,105346,010294,896243,396197,39696,45074,80070,000--------
14 47,79059,67259,67259,67359,00080,731295,367295,118282,250281,084206,768177,383141,44952,08859,18017,11550,122
17/49 76838,63875,52023,78841,490253,52838,55832,63326,4738,4936,65710,3843,2096757010,4396,203
42/48 76838,63875,52023,78841,490253,52838,55832,63326,4738,4936,65710,3843,2096757010,4396,203
44 -1,48425,45823,78822,12023,03523,92720,13064311748042820910570-6,119
440/4 -1,48425,45823,78822,12023,03523,92720,13064311748042820910570-6,119
45 76837,15450,062-2,57079,99314,63112,50325,8308,3766,1779,9563,000570--83
450/3 76837,14246,681--79,99314,27412,14625,4738,3766,1779,956-570--83
454/9 -123,381-2,570-357357357---3,000----
47/48 ----16,800150,500---------10,439-
Income statement
70 -----------142,668177,20750,56572,15059,950-
76A -4,525--300------------
9900 -14,965120,80587,51668,54758,24882,80458,60959,135104,131100,540101,17095,359115,9385,79146,65016,78950,295
60/61 -----------47,30961,28244,77425,50043,161-
62 -----------3,339-----
630 2,1872,4152,007228622622394--2002005,8145,8145,7135,4225,422163
640/8 4004853844946417857774224148417509611,1629769801,42010
66A --9,604197---1,715-1,360430---396--
9901 -17,552117,90575,52167,62856,98581,39757,43856,998103,71798,139100,22085,245108,962-89840,2489,94750,122
75/76B 4432,611--57183-17857197722545345167510-
75 4432,611--57183-17857197722545345167510-
65/66B -32148387-161121611963631271221321409256-
65 -32148387-161121611963631271221321409256-
9903 -17,109120,19575,47367,24157,04281,41957,42657,015103,57897,973100,38585,668109,175-87139,7659,90150,122
67/77 -5,04262,10024,36015,0688,77320,42335,52739,34732,41223,65741,00049,73417,9536,2228,90017,192-
9904 -12,06758,09551,11352,17348,26960,99621,89917,66871,16674,31659,38535,93491,222-7,09330,865-7,29150,122
9905 -12,06758,09551,11352,17348,26960,99621,89917,66871,16674,31659,38535,93491,222-7,09330,865-7,29150,122
Appropriation of the result
9906 47,79059,672110,785111,173129,000356,727317,017299,918352,250281,084236,768177,383143,30952,08859,18017,11550,122
14P 59,8571,57759,67259,00080,731------------
791/2 136,400----------------
691/2 --51,11351,50046,00060,99621,6504,80070,000---1,860----
6920 ------------1,860----
6921 --51,11351,50046,00060,99621,6504,80070,000--------
694/7 136,400---24,000215,000----30,000------
694 136,400---24,000215,000----30,000------
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The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 30-09-2026.

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Filings

each dot is a set of accounts, on the day it reached the National Bank

2025 annual accounts filed 61 days after the deadline. Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00540129.

Financial year Type Filed Reference Document
31-12-2025 micro format 30-09-2026 2026-00540129 PDF
31-12-2024 micro format 30-09-2025 2025-00519974 PDF
31-12-2023 micro format 07-02-2025 2025-00031345 PDF
31-12-2022 full format 30-08-2023 2023-00433777 PDF
31-12-2021 full format 31-08-2022 2022-20419136 PDF
31-12-2020 full format 14-09-2021 2021-67200362 PDF
31-12-2019 full format 30-09-2020 2020-57600348 PDF
31-12-2018 full format 30-08-2019 2019-62200380 PDF
31-12-2017 full format 30-08-2018 2018-58300177 PDF
31-12-2016 full format 29-09-2017 2017-66200192 PDF
31-12-2015 full format 26-08-2016 2016-53900587 PDF
31-12-2014 full format 31-08-2015 2015-56900335 PDF
31-12-2013 full format 30-09-2014 2014-63300475 PDF
31-12-2012 full format 30-08-2013 2013-52200067 PDF
31-12-2011 full format 29-08-2012 2012-47700320 PDF
31-12-2010 full format 30-08-2011 2011-48800320 PDF
31-12-2009 full format 26-08-2010 2010-46700078 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009
-15,365120,32077,52867,85657,60782,01957,832--98,339100,42091,059114,7764,81545,67015,36950,285
-9,88060,51053,12052,40148,89161,61822,293--74,51659,58541,74897,036-1,38036,287-1,86950,285
-116,560-5005001,1401,181--0008673,040023,501490
-187,75852,914101,661-29,606-168,454121,6297,55452,94999,79059,8214,0087,43180,5003,38623,9207,955-
350,253469,242408,733362,174309,273284,882399,090377,978360,310289,144214,628185,043143,29547,12751,5464,05955,995
-----------59.8%61.5%-1.8%55.8%16.6%-
99.8%92.4%84.6%93.8%88.2%53.0%91.2%92.1%93.2%97.1%97.0%94.7%97.9%98.9%99.9%69.1%90.1%
-13.146.4116.238.452.1211.3512.5814.6135.0433.2418.8245.6570.82-1.3910.03
0.000.080.180.070.130.890.100.090.070.030.030.060.020.010.000.450.11
-3.4%12.3%12.4%14.4%15.5%21.3%5.5%4.7%19.8%25.7%27.6%19.4%61.0%-12.2%47.2%-31.3%89.0%
-3.4%11.4%10.4%13.5%13.7%11.3%5.0%4.3%18.4%25.0%26.8%18.3%59.7%-12.0%47.2%-21.6%80.2%
-over 100over 100over 100-------------
-----------125 days36 days46 days29 days2 days-
-----------3 days1 day1 day1 day--

EBIT margin: not included in this filing.

A ratio outside any meaningful range has been withheld (balance sheet total €351,428, equity €350,660).

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets--€6,560--
Financial fixed assets----€500
€2,187€2,415€2,007€228€622

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on RECURSIVE

The operating result for 2025 is a loss of €17,552, after a profit of €117,905 in 2024. It is the lowest result since 2009.

Debt's share of the balance-sheet total falls from 7.6% to 0.2%. Equity and debt are lower.

Next steps

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