RECYSERAING
ActiveSummary
RECYSERAING has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.4m and a net result of €66,782. Equity is growing by ~7.3% per year across the filed fiscal years. Its solvency ranks better than 70% of 221 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+7
Solvency80▼-6
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €95,000 at 30 days acceptable
Liquidity ample (current ratio 3.36 against 2.83 in 2024; short-term debt: 29.4% and cash: 0.4% of total assets), and 45.4% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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
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
54.6%
Return on assets
2.7%
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 27-08-2026, 27 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
27 d late
2024
20 d late
2023
26 d late
2022
25 d late
2021
46 d late
2020
12 d early
2019
15 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 17 days after 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 27 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€66,782
2024 · -€66,077
Working capital
€1.7m▲ 35.7%
2024 · €1.3m
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
Operating result€322,850▲ 2.9%€293,473▼ 9.1%€81,625▼ 72.2%-€55,260€78,875
Net result€233,124within the sector's middle half▲ 2.0%€231,437within the sector's middle half▼ 0.7%€56,612within the sector's middle half▼ 75.5%-€66,077below the sector's middle half€66,782within the sector's middle half
Equity€1.1mwithin the sector's middle half▲ 25.7%€1.4mwithin the sector's middle half▲ 20.3%€1.4mwithin the sector's middle half▲ 4.1%€1.4mwithin the sector's middle half▼ 4.6%€1.4mabove the sector's middle half▲ 0.8%
Total assets€1.7mwithin the sector's middle half▼ 4.1%€2.0mwithin the sector's middle half▲ 19.3%€2.1mwithin the sector's middle half▲ 0.7%€2.2mwithin the sector's middle half▲ 9.0%€2.5mwithin the sector's middle half▲ 12.1%
Debt€572,566▼ 34.8%€671,639▲ 17.3%€628,338▼ 6.4%€879,170▲ 39.9%€946,963▲ 7.7%
Working capital€1.1mwithin the sector's middle half▲ 10.6%€1.3mwithin the sector's middle half▲ 11.9%€1.3mwithin the sector's middle half▲ 1.8%€1.3mwithin the sector's middle half▼ 0.1%€1.7mabove the sector's middle half▲ 35.7%
Solvency66.5%above the sector's middle half▲ 15.8pp67.1%above the sector's middle half▲ 0.6pp69.4%above the sector's middle half▲ 2.3pp60.8%within the sector's middle half▼ 8.7pp54.6%within the sector's middle half▼ 6.1pp
Current ratio3.76above the sector's middle half▲ 0.943.86above the sector's middle half▲ 0.103.83above the sector's middle half▼ 0.032.83above the sector's middle half▼ 1.003.36above the sector's middle half▲ 0.53
Return on assets (ROA)13.6%above the sector's middle half▲ 0.8pp11.3%above the sector's middle half▼ 2.3pp2.8%within the sector's middle half▼ 8.6pp-2.9%below the sector's middle half▼ 5.7pp2.7%within the sector's middle half▲ 5.6pp
Staff (FTE)3below the sector's middle half=4below the sector's middle half▲ 33.3%4.5below the sector's middle half▲ 12.5%3.5below the sector's middle half▼ 22.2%3.2within the sector's middle half▼ 8.6%
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
The operating result returns to profit in 2025: €78,875 after a loss of €55,260 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.5m
Fixed assets
€36,562 ▼ 86.0%
Current assets
€2.5m ▲ 25.0%
Equity and liabilities €2.5m
Equity
€1.4m ▲ 0.8%
Provisions
€192,258
Debt
€946,963 ▲ 7.7%
Debt's share of the balance-sheet total falls from 39.2% to 37.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€86,871▲
2024 · €46,923
Cash flow
€74,779▲
2024 · €36,106
Quick ratio
3.34▲
2024 · 2.77
Debt to equity
0.69▲
2024 · 0.65
ROE
4.9%▲
2024 · -4.9%
Interest coverage
21.25▲
2024 · 9.94
Debt ≤ 1 year
€737,530▲
2024 · €699,799
Debt > 1 year
€129,433=
2024 · €129,371
Income taxes
€8,004▲
2024 · €6,095
Staff costs
€195,288▲
2024 · €179,521
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,039 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.9% |
| 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 17,039 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €174,234 | €209,955 | €208,496 | €179,521 | €195,288 | ▲ 8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €55,749 | €81,551 | €63,767 | €102,183 | €7,997 | ▼ 92.2% |
| Other operating charges640/8 | €26,389 | €20,214 | €16,855 | €19,822 | €233,186 | ▲ 1,076% |
| Non-recurring operating charges66A | - | €52 | - | - | €35 | - |
| Gross operating margin9900 | €579,222 | €605,245 | €370,743 | €246,267 | €515,380 | ▲ 109% |
| Operating profit (loss)9901 | €322,850 | €293,473 | €81,625 | -€55,260 | €78,875 | ▲ 243% |
| Financial charges65/66B | €3,413 | €3,236 | €3,536 | €4,722 | €4,088 | ▼ 13.4% |
| Recurring financial charges65 | €3,182 | €3,228 | €3,529 | €4,722 | €4,088 | ▼ 13.4% |
| Non-recurring financial charges66B | €231 | €8 | €7 | - | - | - |
| Profit (loss) for the period before taxes9903 | €319,437 | €290,237 | €78,089 | -€59,982 | €74,787 | ▲ 225% |
| Income taxes67/77 | €86,313 | €58,800 | €21,477 | €6,095 | €8,004 | ▲ 31.3% |
| Profit (loss) for the period9904 | €233,124 | €231,437 | €56,612 | -€66,077 | €66,782 | ▲ 201% |
| Transfer from tax-exempt reserves789 | €37,000 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €270,124 | €231,437 | €56,612 | -€66,077 | €66,782 | ▲ 201% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €2.0m | €2.1m | €2.2m | €2.5m | ▲ 12.1% |
| Fixed assets21/28 | €179,324 | €343,987 | €322,003 | €260,428 | €36,562 | ▼ 86.0% |
| Tangible fixed assets22/27 | €166,427 | €331,084 | €309,083 | €247,504 | €23,362 | ▼ 90.6% |
| Plant, machinery and equipment23 | €62,829 | €113,302 | €124,570 | €115,451 | €16,125 | ▼ 86.0% |
| Furniture and vehicles24 | €103,598 | €217,782 | €184,514 | €132,053 | €7,237 | ▼ 94.5% |
| Financial fixed assets28 | €12,897 | €12,904 | €12,920 | €12,925 | €13,200 | ▲ 2.1% |
| Current assets29/58 | €1.5m | €1.7m | €1.7m | €2.0m | €2.5m | ▲ 25.0% |
| Amounts receivable after more than one year29 | €1.1m | €1.1m | - | €1.3m | €1.3m | ▼ 4.2% |
| Trade receivables290 | €1.1m | €1.1m | - | €1.3m | €1.3m | ▼ 4.2% |
| Stocks and contracts in progress3 | €195,462 | €84,929 | €106,982 | €42,820 | €10,915 | ▼ 74.5% |
| Contracts in progress37 | €195,462 | €84,929 | €106,982 | €42,820 | €10,915 | ▼ 74.5% |
| Amounts receivable within one year40/41 | €173,075 | €452,292 | €1.6m | €586,742 | €1.2m | ▲ 105% |
| Trade receivables40 | €146,984 | €426,042 | €283,727 | €560,634 | €1.1m | ▲ 96.4% |
| Other amounts receivable41 | €26,092 | €26,250 | €1.3m | €26,108 | €102,250 | ▲ 292% |
| Cash at bank and in hand54/58 | €62,344 | €78,743 | €33,270 | €45,424 | €10,282 | ▼ 77.4% |
| Deferred charges and accrued income490/1 | €10 | €108 | €941 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €2.0m | €2.1m | €2.2m | €2.5m | ▲ 12.1% |
| Equity10/15 | €1.1m | €1.4m | €1.4m | €1.4m | €1.4m | ▲ 0.8% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €563,483 | €563,483 | €563,483 | €488,483 | €432,483 | ▼ 11.5% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | €56,000 | €56,000 | €56,000 | €56,000 | - | - |
| Distributable reserves133 | €505,624 | €505,624 | €505,624 | €430,624 | €430,624 | = |
| Profit (loss) carried forward14 | €556,947 | €788,384 | €844,996 | €853,919 | €920,701 | ▲ 7.8% |
| Provisions and deferred taxes16 | - | - | - | - | €192,258 | - |
| Deferred taxes168 | - | - | - | - | €192,258 | - |
| Amounts payable17/49 | €572,566 | €671,639 | €628,338 | €879,170 | €946,963 | ▲ 7.7% |
| Amounts payable after more than one year17 | €164,901 | €231,936 | €175,845 | €129,371 | €129,433 | = |
| Financial debts170/4 | €164,901 | €231,936 | €175,845 | €129,371 | €129,433 | = |
| Amounts payable within one year42/48 | €407,665 | €439,704 | €452,493 | €699,799 | €737,530 | ▲ 5.4% |
| Current portion of amounts payable after more than one year42 | €50,951 | €63,000 | €63,000 | €54,785 | - | - |
| Trade debts44 | €279,753 | €337,682 | €314,812 | €515,549 | €497,546 | ▼ 3.5% |
| Suppliers440/4 | €279,753 | €337,682 | €314,812 | €515,549 | €497,546 | ▼ 3.5% |
| Taxes, remuneration and social security45 | €76,960 | €38,901 | €65,015 | €18,050 | €54,758 | ▲ 203% |
| Taxes450/3 | €67,005 | €17,435 | €41,654 | €828 | €39,598 | ▲ 4,684% |
| Remuneration and social security454/9 | €9,955 | €21,465 | €23,361 | €17,222 | €15,161 | ▼ 12.0% |
| Other amounts payable47/48 | - | €121 | €9,666 | €111,415 | €185,225 | ▲ 66.2% |
| Accrued charges and deferred income492/3 | - | - | - | €50,000 | €80,000 | ▲ 60.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €233,124 | €231,437 | €56,612 | -€66,077 | €66,782 | ▲ 201% |
| + Depreciation and write-downs630 | €55,749 | €81,551 | €63,767 | €102,183 | €7,997 | ▼ 92.2% |
| Operating cash flow (approximation) | €288,873 | €312,988 | €120,378 | €36,106 | €74,779 | ▲ 107% |
| Investment in fixed assets (approximation) | - | -€246,215 | -€41,782 | -€40,608 | €215,870 | ▲ 632% |
| Change in cash | - | €16,399 | -€45,473 | €12,154 | -€35,142 | ▼ 389% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
21-08
State Gazette act
Registered office · Purpose · Statutes amendment · Resignations & appointmentsName change · Registered-office move · Power of attorney6 facts ▸
State Gazette act
Registered office · Purpose · Statutes amendment · Resignations & appointments
Name change · Registered-office move · Power of attorney6 facts ▸
- General meeting, 09-07-2026
- Name change, RS Limoges
- Registered-office move, 4130 Esneux (Tilff), rue de Limoges 60A
- Power of attorney
- Power of attorney, Benjamin PONCELET
- Other statement, voting result, Toutes les décisions ont été prises à l’unanimité des voix.
2025
31-12
Financial
Back to profitnet €66,782
Net result €66,782 after one loss-making year.
20-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 20 days late
2024
31-12
Financial
Weakest financial yearnet -€66,077
Net result drops to -€66,077, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 26 days late
2023
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 25 days late
2022
15-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 46 days late
2021
31-12
Financial
Highest result since 2018net €233,124 ▲2%
Operating result €322,850, net result €233,124, both a record.
31-12
Financial
Equity above €1mEq €1.1m ▲25.7%
4 profitable years in a row build equity to €1.1m.
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
16-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Show earlier events
2019
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 10 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Esneux · 1 establishment unit since 2000
Ground area
7,323 m²
Building footprint
3,353 m²
Volume, LiDAR
47,809 m³
2 parcels, Wallonia · tallest building 21.7 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Avenue Greiner sn, 4100 Seraing
since 20002.094.897.617
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62096A0048/00P000 ProtectedSite or landscape |
Wallonia | 6,252 m² | 1 · 3,241 m² | 21.7 m · 5 fl. |
| 62101A0489/00B009indicative | Wallonia | 1,071 m² | 1 · 111 m² | - |
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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Articles of association
Purpose
La société peut étudier, créer, financer, gérer et exploiter toutes sociétés, entreprises ou organisations dans les domaines décrits ci-dessus; La société pourra faire tous actes…
Full purpose (15 activities)
- La société peut étudier, créer, financer, gérer et exploiter toutes sociétés, entreprises ou organisations dans les domaines décrits ci-dessus.
- La société pourra faire tous actes et opérations financières, commerciales, industrielles, mobilières et immobilières se rattachant directement ou indirectement à son objet ou pouvant en amener le développement ou en faciliter la réalisation, s’ intéresser de toute façon dans toutes sociétés ou entreprises existantes ou à créer.
- Elle peut notamment se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société liée ou non.
- Parmi les opérations pouvant se rattacher à son objet ou pouvant en faciliter la réalisation, citons notamment, sans que l’énumération suivante ne soit limitative, prendre ou donner à bail, aliéner, acquérir tous immeubles ou fonds de commerce, acquérir, concéder, céder tous brevets, licences ou marque de fabrique ou de commerce.
- Elle peut s’intéresser par toutes voies dans toutes sociétés, associations ou entreprises ayant un objet similaire ou connexe au sien ou susceptible de favoriser le développement de ses activités.
- La société peut être administrateur, gérant ou liquidateur d’une société.
- Toutes les opérations relatives au transport en général et ce, par route, par voie ferrée, par mer ou par air, en ce compris le transport de tous déchets, immondices ou résidus domestiques, commerciaux, industriels, sous formes solides, liquides ou gazeux, en ce y compris : les déchets spéciaux, dangereux et ceux provenant des hôpitaux.
- Tous les travaux de terrassement, de pose de câbles et de canalisations, de drainage et d’ assainissement urbain, de déneigement, de nettoyage et d’entretien d’espaces verts, de vidange, de curage de fosses et de débouchage.
- L’achat et la revente d’installations, matériels, machines, engins, outillages, véhicules, matériels roulants, pièces de rechange et accessoires.
- L'achat et la vente de tout matériel récréatif de quelque nature que ce soit y compris tout matériel nécessaire à l'exploitation de parc d'attraction et loisirs y compris toutes attractions de jeux ludiques pour enfants ; l'utilisation de ce même matériel pour son compte ou pour compte de tiers ; la location ou le dépôt de ce même matériel à des tiers, des marchés ouverts ou découverts, des foires, des écoles, des établissements parascolaires ou non, des braderies ou toutes sortes de manifestations que ce soit sur la voie publique ou chez des particuliers et ce sans limitation à titre exemplatif.
- La société pourra servir des boissons et de la petite restauration ou de la grande restauration si elle engage un cuisinier agréé, lors de toute manifestation de quelque nature qu'elle soit organisée par la société ou non.
- Transport
- Travaux et entretien
- Achat et revente
- Restauration
Legal form clause
RS Limoges
Other statement
L'organe d'administration justifie en détail la modification dans un rapport mis à disposition des actionnaires et qui restera au dossier
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Of 978 companies in sector 38210 we hold annual accounts for 587. 413 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
Founded25-01-2000
Fiscal year end31-12
Legal name FR
RS Limoges
Activities, NACEBEL 2025
38210Materials recovery from waste
38330Waste collection, recovery and disposal activities
43120Site preparation
77120Rental and leasing activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0470018646
Also
9925:BE0470018646
Registered
06-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.