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RECYBEL

Active
Public limited companyfounded 199233 yrs activeQuai du Halage(Flh) 47-49, 4400 Flémalle, BelgiumKBO/BCE: BE 0449.342.996
Summary

RECYBEL has been active since 1992 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €477,142 and a net result of €248,113. Equity is growing by ~7.6% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.5% (very low).

Checked score

Score 2024
Axes · tick = 2023
Profitability70▲+44
Solvency50▼-17
Growth74▲+2
Track record100
Bankruptcy probability, 12 months
0.5% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity tight (current ratio 1.34 against 1.71 in 2023; short-term debt: 74.8% and cash: 56.2% of total assets), and 74.8% of the assets are financed with debt.
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Signals

Six 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 33 years 0 40 y
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-06-2026, 37 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
37 d early
2024
42 d early
2023
28 d early
2022
32 d early
2021
17 d early
2020
43 d early
2019
20 d late
← 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 26 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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 29 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 10 December 1992, RECYBEL was incorporated.1 Revenue went from EUR 2.1 million in 2018 to EUR 3.7 million in 2024.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, full schema, 2025 accounts filed, figures not processed yet

Turnover
€3.7m▲ 18.7%
2023 · €3.1m
EBIT margin
8.1%▲ 9.8pp
2023 · -1.7%
Net result
€248,113
2023 · -€53,651
Working capital
€477,142▲ 0.7%
2023 · €473,828
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the fiscal year before
favourable unfavourable
Line20202021202220232024
Turnover€4.0m▲ 3.5%€3.4m▼ 14.2%€3.0m▼ 11.7%€3.1m▲ 4.2%€3.7m▲ 18.7%
Operating result€926,098▲ 86.5%€396,975▼ 57.1%-€28,798-€51,987▼ 80.5%€303,931
Net result€764,698above the sector's middle half▲ 54.7%€293,057within the sector's middle half▼ 61.7%-€31,498below the sector's middle half-€53,651below the sector's middle half▼ 70.3%€248,113within the sector's middle half
EBIT margin23.2%▲ 10.3pp11.6%▼ 11.6pp-1.0%▼ 12.6pp-1.7%▼ 0.7pp8.1%▲ 9.8pp
Equity€661,921within the sector's middle half▲ 123%€558,978within the sector's middle half▼ 15.6%€527,479within the sector's middle half▼ 5.6%€473,828below the sector's middle half▼ 10.2%€477,142below the sector's middle half▲ 0.7%
Total assets€1.4mbelow the sector's middle half▼ 5.7%€1.6mwithin the sector's middle half▲ 11.7%€1.5mbelow the sector's middle half▼ 8.4%€1.1mbelow the sector's middle half▼ 22.9%€1.9mwithin the sector's middle half▲ 65.7%
Debt€782,966▼ 36.6%€1.1m▲ 34.8%€951,831▼ 9.8%€667,320▼ 29.9%€1.4m▲ 112%
Working capital€663,961within the sector's middle half▲ 124%€561,290within the sector's middle half▼ 15.5%€529,977within the sector's middle half▼ 5.6%€473,828within the sector's middle half▼ 10.6%€477,142within the sector's middle half▲ 0.7%
Solvency45.8%within the sector's middle half▲ 26.4pp34.6%within the sector's middle half▼ 11.2pp35.7%within the sector's middle half▲ 1.0pp41.5%within the sector's middle half▲ 5.9pp25.2%within the sector's middle half▼ 16.3pp
Current ratio1.85within the sector's middle half▲ 0.611.53within the sector's middle half▼ 0.321.56within the sector's middle half▲ 0.031.71within the sector's middle half▲ 0.151.34within the sector's middle half▼ 0.37
Return on assets (ROA)52.9%above the sector's middle half▲ 20.6pp18.2%above the sector's middle half▼ 34.8pp-2.1%below the sector's middle half▼ 20.3pp-4.7%below the sector's middle half▼ 2.6pp13.1%above the sector's middle half▲ 17.8pp
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.
Result per fiscal year
Operating resultNet result
-€250,000€0€250,000€500,000€750,000€1.0mOperating result 2020: €926,098€926,098Net result 2020: €764,698€764,698Operating result 2021: €396,975€396,975Net result 2021: €293,057€293,057Operating result 2022: -€28,798-€28,798Net result 2022: -€31,498-€31,498Operating result 2023: -€51,987-€51,987Net result 2023: -€53,651-€53,651Operating result 2024: €303,931€303,931Net result 2024: €248,113€248,11320202021202220232024-€100,000€0€100,000€200,000€300,000Operating result 2022: -€28,798-€28,800Net result 2022: -€31,498-€31,500Operating result 2023: -€51,987-€52,000Net result 2023: -€53,651-€53,700Operating result 2024: €303,931€304,000Net result 2024: €248,113€248,000202220232024
The operating result returns to profit in 2024: €303,931 after a loss of €51,987 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €1.9m
Equity €477,142 ▲ 0.7%
Debt €1.4m ▲ 112%
Debt's share of the balance-sheet total rises from 58.5% to 74.8%. Equity and debt are higher.
Key figures and ratios
2024 value · change against 2023
Debt to equity
2.96▲
2023 · 1.41
ROE
52.0%▲
2023 · -11.3%
Debt ≤ 1 year
€1.4m▲
2023 · €667,320
Income taxes
€61,995
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 2,613 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 97% are still going.

  • Small
  • 20 years or older
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more
0.7% went bankrupt
2.0% stopped otherwise
97% still going

For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

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 2,613 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 46 lines
Balance sheet Code20232024
Assets
Total assets20/58€1.1m€1.9m▲
Current assets29/58€1.1m€1.9m▲
Amounts receivable within one year40/41€665,938€828,058▲
Trade receivables40€647,572€806,500▲
Other amounts receivable41€18,365€21,559▲
Cash at bank and in hand54/58€474,663€1.1m▲
Deferred charges and accrued income490/1€547€0▼
Equity and liabilities
Total equity and liabilities10/49€1.1m€1.9m▲
Equity10/15€473,828€477,142▲
Contributions10/11€199,200€199,200=
Capital10€199,200€199,200=
Issued capital100€199,200€199,200=
Reserves13€19,920€19,920=
Non-distributable reserves130/1€19,920€19,920=
Legal reserve130€19,920€19,920=
Profit (loss) carried forward14€254,708€258,022▲
Amounts payable17/49€667,320€1.4m▲
Amounts payable within one year42/48€667,320€1.4m▲
Trade debts44€653,798€1.1m▲
Suppliers440/4€653,798€1.1m▲
Taxes, remuneration and social security45€13,522€35,090▲
Taxes450/3€13,522€35,090▲
Other amounts payable47/48-€244,800
Income statement Code20232024
Operating income70/76A€3.6m€4.1m▲
Turnover70€3.1m€3.7m▲
Other operating income74€443,792€347,964▼
Operating charges60/66A€3.6m€3.8m▲
Services and other goods61€3.6m€3.8m▲
Other operating charges640/8€1,011€1,024▲
Operating profit (loss)9901-€51,987€303,931▲
Financial income75/76B€1€8,512▲
Recurring financial income75€1€8,512▲
Income from current assets751-€8,512
Other financial income752/9€1-
Financial charges65/66B€1,665€2,335▲
Recurring financial charges65€1,665€2,335▲
Other financial charges652/9€1,665€2,335▲
Profit (loss) for the period before taxes9903-€53,651€310,108▲
Income taxes67/77-€61,995
Taxes670/3-€61,995
Profit (loss) for the period9904-€53,651€248,113▲
Profit (loss) for the period to be appropriated9905-€53,651€248,113▲
Appropriation of the result
Profit (loss) to be appropriated9906€254,708€502,822▲
Profit (loss) brought forward from the previous period14P€308,359€254,708▼
Profit to be distributed694/7-€244,800
Return on contributions (dividend)694-€244,800

The notes to these accounts (17 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Operating income70/76A-€3.8m€3.4m€3.6m€4.1m▲ 13.7%
Turnover70€4.0m€3.4m€3.0m€3.1m€3.7m▲ 18.7%
Other operating income74-€351,658€362,784€443,792€347,964▼ 21.6%
Operating charges60/66A-€3.4m€3.4m€3.6m€3.8m▲ 3.7%
Services and other goods61-€3.4m€3.4m€3.6m€3.8m▲ 3.7%
Other operating charges640/8-€868€868€1,011€1,024▲ 1.2%
Operating profit (loss)9901€926,098€396,975-€28,798-€51,987€303,931▲ 685%
Financial income75/76B-€0€1€1€8,512▲ 945,712%
Recurring financial income75€1€0€1€1€8,512▲ 945,712%
Income from current assets751----€8,512-
Other financial income752/9-€0€1€1--
Financial charges65/66B-€1,684€1,875€1,665€2,335▲ 40.3%
Recurring financial charges65€1,803€1,684€1,875€1,665€2,335▲ 40.3%
Other financial charges652/9-€1,684€1,875€1,665€2,335▲ 40.3%
Profit (loss) for the period before taxes9903€924,295€395,291-€30,672-€53,651€310,108▲ 678%
Income taxes67/77€159,598€102,235€826-€61,995-
Taxes670/3-€102,235€826-€61,995-
Profit (loss) for the period9904€764,698€293,057-€31,498-€53,651€248,113▲ 562%
Profit (loss) for the period to be appropriated9905€764,698€293,057-€31,498-€53,651€248,113▲ 562%
Line20202021202220232024Change
Assets
Total assets20/58€1.4m€1.6m€1.5m€1.1m€1.9m▲ 65.7%
Current assets29/58€1.4m€1.6m€1.5m€1.1m€1.9m▲ 65.7%
Amounts receivable within one year40/41€717,804€703,020€780,011€665,938€828,058▲ 24.3%
Trade receivables40-€684,655€761,646€647,572€806,500▲ 24.5%
Other amounts receivable41-€18,365€18,365€18,365€21,559▲ 17.4%
Cash at bank and in hand54/58€724,911€909,102€696,374€474,663€1.1m▲ 124%
Deferred charges and accrued income490/1-€2,312€2,925€547€0▼ 100%
Equity and liabilities
Total equity and liabilities10/49€1.4m€1.6m€1.5m€1.1m€1.9m▲ 65.7%
Equity10/15€661,921€558,978€527,479€473,828€477,142▲ 0.7%
Contributions10/11€199,200€199,200€199,200€199,200€199,200=
Capital10-€199,200€199,200€199,200€199,200=
Issued capital100-€199,200€199,200€199,200€199,200=
Reserves13€19,920€19,920€19,920€19,920€19,920=
Non-distributable reserves130/1-€19,920€19,920€19,920€19,920=
Legal reserve130-€19,920€19,920€19,920€19,920=
Profit (loss) carried forward14€442,801€339,858€308,359€254,708€258,022▲ 1.3%
Amounts payable17/49€782,966€1.1m€951,831€667,320€1.4m▲ 112%
Amounts payable within one year42/48€780,925€1.1m€949,332€667,320€1.4m▲ 112%
Trade debts44€268,063€543,190€926,833€653,798€1.1m▲ 73.4%
Suppliers440/4-€543,190€926,833€653,798€1.1m▲ 73.4%
Taxes, remuneration and social security45-€113,955€22,499€13,522€35,090▲ 160%
Taxes450/3-€113,955€22,499€13,522€35,090▲ 160%
Other amounts payable47/48-€396,000--€244,800-
Accrued charges and deferred income492/3-€2,312€2,498---
Line20202021202220232024Change
Profit (loss) for the period9904€764,698€293,057-€31,498-€53,651€248,113▲ 562%
Operating cash flow (approximation)€764,698€293,057-€31,498-€53,651€248,113▲ 562%
Change in cash-€184,191-€212,728-€221,711€588,098▲ 365%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
24-06
NBB filing Annual accounts filed
fiscal year 2025 · full schema
2025
19-06
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial Back to profitnet €248,113
Net result €248,113 after 2 loss-making years.
03-07
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2023
29-06
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
14-07
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2021
18-06
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial Highest result since 2018net €764,698 ▲54.7%
Operating result €926,098, net result €764,698, both a record.
31-12
Financial Equity above €500,000Eq €661,921 ▲123%
2 profitable years in a row build equity to €661,921.
20-08
NBB filing Annual accounts filed
fiscal year 2019 · full schema · 20 days late
2019
31-12
Financial Back to profitnet €494,444
Net result €494,444 after one loss-making year.
31-12
Financial Equity above €200,000Eq €296,823
Equity rises from -€197,621 to €296,823.
Show earlier events
28-06
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
20-06
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2017
30-06
NBB filing Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 32 acts read
About the unread acts

We know of 32 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
No directors read yet: 0 of 32 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Flémalle · 2 establishment units since 1993
seat establishment approximate All 2 establishment units on the map
Ground area
6,841 m²
Building footprint
2,510 m²
Volume, LiDAR
131,642 m³
2 parcels, Brussels, Wallonia · tallest building 64.0 m, ±19 floors. Linked by address, not a title deed.
2 establishment units
RECYBEL
Quai du Halage(Flh) 47-49, 4400 FlémalleNACE 74151
since 19932.060.568.624
RECYBEL
Simon Bolivarlaan 34, 1000 BrusselOffice administrative, office support and other business support activities
since 20142.227.235.311
2 parcels
Wallonia 1 (50%) Brussels 1 (50%)
Parcel (capakey) Region Area Buildings Height / fl.
21813D0439/00P009 Brussels 5,799 m² 1 · 2,489 m² 64.0 m · 19 fl.
62502A0121/00Z003indicative Wallonia 1,042 m² 1 · 21 m² 3.7 m · 1 fl.
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Structure & network

Owners and holdings

3 owners

Owners 3

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.

Similar companies · same sector, comparable size

Of 977 companies in this sector we hold annual accounts for 587. 407 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company details

Identification
Legal formPublic limited company
Founded10-12-1992
Fiscal year end31-12
Activities, NACEBEL 2025
38210Materials recovery from waste
E-invoicing
Reachable via Peppol
Peppol ID 0208:0449342996
Also 9925:BE0449342996
Registered 16-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.