RECY-CABLES
ActiveSummary
RECY-CABLES has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €115,377 and a net result of €56,527. Equity is growing by ~6.5% per year across the filed fiscal years. Its solvency ranks better than 40% of 177 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.3% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability85▼-15
Solvency51▼-45
Growth52=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6,000 at 30 days acceptable
Liquidity short (current ratio 0.93 against 0.85 in 2024; short-term debt: 71.3% and cash: 10.1% of total assets), and 73.9% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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
26.1%
Return on assets
12.8%
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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-09-2026, 54 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 · 5 filingsDeviation from the deadline
2025
54 d late
2024
31 d late
2023
28 d late
2022
69 d late
2021
76 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 52 days after 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. Usually files around 23 September (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€625,826
EBIT margin
-5.2%
Net result
€56,527▲ 2.1%
2024 · €55,353
Working capital
-€21,363▼ 281%
2024 · -€5,606
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 38, Waste collection, recovery and disposal activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€625,826
Operating result€131,664-€18,542▼ 85.9%-€32,351€76,906€53,729▼ 30.1%
Net result€94,793above the sector's middle half-€14,761within the sector's middle half▼ 84.4%-€49,057below the sector's middle half€55,353above the sector's middle half€56,527above the sector's middle half▲ 2.1%
EBIT margin-5.2%
Equity€87,793within the sector's middle half-€102,554within the sector's middle half▲ 16.8%€53,496within the sector's middle half▼ 47.8%€108,849within the sector's middle half▲ 103%€115,377within the sector's middle half▲ 6.0%
Total assets€244,583within the sector's middle half-€288,239within the sector's middle half▲ 17.8%€274,154within the sector's middle half▼ 4.9%€153,253within the sector's middle half▼ 44.1%€442,295within the sector's middle half▲ 189%
Debt€156,790-€185,685▲ 18.4%€220,657▲ 18.8%€44,404▼ 79.9%€326,918▲ 636%
Working capital-€20,629within the sector's middle half--€71,499below the sector's middle half▼ 247%-€91,364below the sector's middle half▼ 27.8%-€5,606within the sector's middle half▲ 93.9%-€21,363within the sector's middle half▼ 281%
Solvency35.9%within the sector's middle half-35.6%within the sector's middle half▼ 0.3pp19.5%within the sector's middle half▼ 16.1pp71.0%above the sector's middle half▲ 51.5pp26.1%within the sector's middle half▼ 44.9pp
Current ratio0.85within the sector's middle half-0.61below the sector's middle half▼ 0.240.58below the sector's middle half▼ 0.030.85within the sector's middle half▲ 0.270.93within the sector's middle half▲ 0.08
Return on assets (ROA)38.8%above the sector's middle half-5.1%within the sector's middle half▼ 33.6pp-17.9%below the sector's middle half▼ 23.0pp36.1%above the sector's middle half▲ 54.0pp12.8%above the sector's middle half▼ 23.3pp
Staff (FTE)3-2.7▼ 10.0%3.1▲ 14.8%2▼ 35.5%2=
above
within
below
the middle half (P25 to P75) of NACE 38, Waste collection, recovery and disposal activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 30% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €442,295
Fixed assets
€148,281 ▲ 21.4%
Current assets
€294,013 ▲ 845%
Equity and liabilities €442,295
Equity
€115,377 ▲ 6.0%
Debt
€326,918 ▲ 636%
Debt's share of the balance-sheet total rises from 29.0% to 73.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€103,510▼
2024 · €116,023
Cash flow
€106,308▲
2024 · €94,469
Debt to equity
2.83▲
2024 · 0.41
ROE
49.0%▼
2024 · 50.9%
Interest coverage
53.99▲
2024 · 53.26
Debt ≤ 1 year
€315,376▲
2024 · €36,729
Debt > 1 year
€11,542▲
2024 · €7,675
Income taxes
-€3,779▼
2024 · €19,375
Staff costs
€106,231▲
2024 · €101,602
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,706 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.3% 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 497,662 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% | 1.7% |
| 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 75% 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 6,706 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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | €625,826 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €491,083 | - | - | - |
| Remuneration, social security and pensions62 | €150,061 | €132,271 | €128,087 | €101,602 | €106,231 | ▲ 4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €47,997 | €45,664 | €44,495 | €39,116 | €49,781 | ▲ 27.3% |
| Other operating charges640/8 | €10,781 | €8,090 | €2,155 | €10,347 | €9,956 | ▼ 3.8% |
| Gross operating margin9900 | €340,503 | €204,567 | €142,386 | €227,972 | €219,697 | ▼ 3.6% |
| Operating profit (loss)9901 | €131,664 | €18,542 | -€32,351 | €76,906 | €53,729 | ▼ 30.1% |
| Financial income75/76B | €0 | €131 | €36 | €0 | €937 | ▲ 9,369,800% |
| Recurring financial income75 | €0 | €131 | €36 | €0 | €937 | ▲ 9,369,800% |
| Financial charges65/66B | €1,872 | €1,778 | €3,076 | €2,179 | €1,917 | ▼ 12.0% |
| Recurring financial charges65 | €1,872 | €1,778 | €3,076 | €2,179 | €1,917 | ▼ 12.0% |
| Profit (loss) for the period before taxes9903 | €129,793 | €16,895 | -€35,392 | €74,728 | €52,749 | ▼ 29.4% |
| Income taxes67/77 | €35,000 | €2,134 | €13,665 | €19,375 | -€3,779 | ▼ 120% |
| Profit (loss) for the period9904 | €94,793 | €14,761 | -€49,057 | €55,353 | €56,527 | ▲ 2.1% |
| Profit (loss) for the period to be appropriated9905 | €94,793 | €14,761 | -€49,057 | €55,353 | €56,527 | ▲ 2.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €244,583 | €288,239 | €274,154 | €153,253 | €442,295 | ▲ 189% |
| Fixed assets21/28 | €127,716 | €174,053 | €147,488 | €122,130 | €148,281 | ▲ 21.4% |
| Intangible fixed assets21 | €90,000 | €80,000 | €70,000 | €60,000 | €50,000 | ▼ 16.7% |
| Tangible fixed assets22/27 | €37,716 | €94,053 | €77,488 | €62,130 | €97,981 | ▲ 57.7% |
| Plant, machinery and equipment23 | €2,505 | €65,802 | €51,139 | €47,842 | €67,729 | ▲ 41.6% |
| Furniture and vehicles24 | €35,211 | €28,251 | €26,349 | €14,288 | €30,252 | ▲ 112% |
| Financial fixed assets28 | - | - | - | - | €300 | - |
| Current assets29/58 | €116,868 | €114,186 | €126,665 | €31,123 | €294,013 | ▲ 845% |
| Amounts receivable within one year40/41 | €38,423 | €66,880 | €57,265 | €18,803 | €246,129 | ▲ 1,209% |
| Trade receivables40 | €26,375 | €44,389 | €57,265 | €13,544 | €181,687 | ▲ 1,241% |
| Other amounts receivable41 | €12,048 | €22,491 | €0 | €5,260 | €64,442 | ▲ 1,125% |
| Cash at bank and in hand54/58 | €78,009 | €7,378 | €64,741 | €8,894 | €44,575 | ▲ 401% |
| Deferred charges and accrued income490/1 | €436 | €39,928 | €4,659 | €3,426 | €3,309 | ▼ 3.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €244,583 | €288,239 | €274,154 | €153,253 | €442,295 | ▲ 189% |
| Equity10/15 | €87,793 | €102,554 | €53,496 | €108,849 | €115,377 | ▲ 6.0% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €50,000 | €60,000 | €60,000 | €60,000 | €66,527 | ▲ 10.9% |
| Distributable reserves133 | €50,000 | €60,000 | €60,000 | €60,000 | €66,527 | ▲ 10.9% |
| Profit (loss) carried forward14 | €27,793 | €32,554 | -€16,504 | €38,849 | €38,849 | = |
| Amounts payable17/49 | €156,790 | €185,685 | €220,657 | €44,404 | €326,918 | ▲ 636% |
| Amounts payable after more than one year17 | €19,294 | €0 | €2,628 | €7,675 | €11,542 | ▲ 50.4% |
| Financial debts170/4 | €19,294 | €0 | €2,628 | €7,675 | €11,542 | ▲ 50.4% |
| Amounts payable within one year42/48 | €137,496 | €185,685 | €218,030 | €36,729 | €315,376 | ▲ 759% |
| Current portion of amounts payable after more than one year42 | €22,262 | €23,348 | €39,197 | €2,628 | €11,946 | ▲ 355% |
| Trade debts44 | €0 | €61,121 | €107,023 | €18,548 | €152,632 | ▲ 723% |
| Suppliers440/4 | - | €61,121 | €107,023 | €18,548 | €152,632 | ▲ 723% |
| Advances received on contracts in progress46 | - | - | - | - | €76,985 | - |
| Taxes, remuneration and social security45 | €56,838 | €32,165 | €19,075 | €14,640 | €23,813 | ▲ 62.7% |
| Taxes450/3 | €43,123 | €10,100 | €6,510 | €2,138 | €10,432 | ▲ 388% |
| Remuneration and social security454/9 | €13,714 | €22,065 | €12,565 | €12,502 | €13,381 | ▲ 7.0% |
| Other amounts payable47/48 | €58,397 | €69,052 | €52,735 | €913 | €50,000 | ▲ 5,374% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €94,793 | €14,761 | -€49,057 | €55,353 | €56,527 | ▲ 2.1% |
| + Depreciation and write-downs630 | €47,997 | €45,664 | €44,495 | €39,116 | €49,781 | ▲ 27.3% |
| Operating cash flow (approximation) | €142,790 | €60,425 | -€4,562 | €94,469 | €106,308 | ▲ 12.5% |
| Investment in fixed assets (approximation) | - | -€92,001 | -€17,930 | -€13,758 | -€75,932 | ▼ 452% |
| Change in cash | - | -€70,630 | €57,363 | -€55,847 | €35,681 | ▲ 164% |
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
23-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 54 days late
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Back to profitnet €55,353
Net result €55,353 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €108,849 ▲103%
Equity rises from €53,496 to €108,849.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-12
Financial
Weakest financial yearnet -€49,057
Net result drops to -€49,057, the lowest in the series; recovery starts the following year.
08-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 69 days late
2022
31-12
Financial
Equity above €100,000Eq €102,554 ▲16.8%
2 profitable years in a row build equity to €102,554.
15-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 76 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Seraing · 1 establishment unit since 2020
Ground area
178 m²
Building footprint
105 m²
Volume, LiDAR
316 m³
Parcel 62352E0462/00L002, Wallonia · tallest building 8.3 m, ±1 floor. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
RECY-CABLES
since 20202.303.771.774
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62352E0462/00L002 | Wallonia | 178 m² | 1 · 105 m² | 8.3 m · 1 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.
Similar companies · same sector, comparable size
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BE 0744.419.768
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DTEKCOOLING
BE 0770.779.222
Assesse · Eq €113,825
ESB RECYCLING
BE 0836.119.214
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MIG
BE 0449.168.101
Balen · Eq €112,681
Of 978 companies in sector 38210 we hold annual accounts for 587. 307 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-06-2020
Fiscal year end31-12
Activities, NACEBEL 2025
38210Materials recovery from waste
E-invoicing
Reachable via Peppol
Peppol ID
0208:0748698458
Also
9925:BE0748698458
Registered
26-08-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.