RED LINE
ActiveSummary
RED LINE has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €61k and a net result of €-240. Equity is growing by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 48% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability42▼-33
Solvency67▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €3.5k at 30 days acceptable
Liquidity short (current ratio 0.5 against 0.65 in 2024; short-term debt: 47.4% of total assets), and 57.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
42.4%
Return on assets
-0.2%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 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
18 d late
2024
57 d late
2023
198 d late
2022
61 d late
2021
23 d late
2020
41 d late
2019
40 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€61k▼ 0.4%
2024 · €61k
2018: €32k
2019: €44k▲ +36.8% vs 2018
2020: €32k▼ -27.1% vs 2019lowest in 8 years
2021: €71k▲ +122% vs 2020highest in 8 years
2022: €65k▼ -8.2% vs 2021
2023: €53k▼ -19.6% vs 2022
2024: €61k▲ +16.3% vs 2023
2025: €61k▼ -0.4% vs 2024
2018 → 2025
Total assets
€144k▼ 20.3%
2024 · €180k
2018: €230k
2019: €245k▲ +6.6% vs 2018highest in 8 years
2020: €232k▼ -5.4% vs 2019
2021: €225k▼ -3.1% vs 2020
2022: €205k▼ -9.0% vs 2021
2023: €182k▼ -10.8% vs 2022
2024: €180k▼ -1.1% vs 2023
2025: €144k▼ -20.3% vs 2024lowest in 8 years
2018 → 2025
Net result
€-240
2024 · €9k
2018: €-15klowest in 8 years
2019: €12k▲ +178% vs 2018
2020: €-12k▼ -201% vs 2019
2021: €39k▲ +428% vs 2020highest in 8 years
2022: €-6k▼ -115% vs 2021
2023: €-13k▼ -120% vs 2022
2024: €9k▲ +167% vs 2023
2025: €-240▼ -103% vs 2024
2018 → 2025
Working capital
€-34k▼ 1.9%
2024 · €-33k
2018: €-46klowest in 8 years
2019: €-32k▲ +30.7% vs 2018highest in 8 years
2020: €-46k▼ -44.1% vs 2019
2021: €-41k▲ +11.4% vs 2020
2022: €-43k▼ -5.1% vs 2021
2023: €-40k▲ +5.8% vs 2022
2024: €-33k▲ +17.0% vs 2023
2025: €-34k▼ -1.9% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€71k-€65k▼ 8.2%€53k▼ 19.6%€61k▲ 16.3%€61k▼ 0.4%
2021: €71khighest in 5 years
2022: €65k▼ -8.2% vs 2021
2023: €53k▼ -19.6% vs 2022lowest in 5 years
2024: €61k▲ +16.3% vs 2023
2025: €61k▼ -0.4% vs 2024
Operating result€44k-€-1k€-4k▼ 207%€13k€-3k
2021: €44khighest in 5 years
2022: €-1k▼ -103% vs 2021
2023: €-4k▼ -207% vs 2022lowest in 5 years
2024: €13k▲ +456% vs 2023
2025: €-3k▼ -120% vs 2024
Net result€39k-€-6k€-13k▼ 120%€9k€-240
2021: €39khighest in 5 years
2022: €-6k▼ -115% vs 2021
2023: €-13k▼ -120% vs 2022lowest in 5 years
2024: €9k▲ +167% vs 2023
2025: €-240▼ -103% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3k after €13k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €144k
Fixed assets
€110k ▼ 7.6%
Current assets
€34k ▼ 44.8%
Equity and liabilities €144k
Equity
€61k ▼ 0.4%
Debt
€83k ▼ 30.6%
Debt's share of the balance-sheet total falls from 66.1% to 57.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€8k▼
2024 · €32k
Cash flow
€11k▼
2024 · €28k
Current ratio
0.50▼
2024 · 0.65
Quick ratio
0.31▼
2024 · 0.48
Debt to equity
1.36▼
2024 · 1.95
ROE
-0.4%▼
2024 · 14.0%
ROA
-0.2%▼
2024 · 4.7%
Interest coverage
2.84▼
2024 · 11.18
Debt ≤ 1 year
€68k▼
2024 · €95k
Debt > 1 year
€15k▼
2024 · €24k
Income taxes
€-5k▼
2024 · €2k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€180k€144k▼
Fixed assets21/28€119k€110k▼
Tangible fixed assets22/27€118k€109k▼
Land and buildings22€115k€107k▼
Plant, machinery and equipment23€1k€1k▲
Furniture and vehicles24€1k-
Financial fixed assets28€850€850=
Current assets29/58€62k€34k▼
Stocks and contracts in progress3€16k€13k▼
Stocks30/36€16k€13k▼
Amounts receivable within one year40/41€37k€21k▼
Trade receivables40€35k€14k▼
Other amounts receivable41€2k€7k▲
Deferred charges and accrued income490/1€9k-
Equity and liabilities
Total equity and liabilities10/49€180k€144k▼
Equity10/15€61k€61k▼
Contributions10/11€19k€19k=
Outside capital11€19k€19k=
Other1109/19€19k€19k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€41k€40k▼
Amounts payable17/49€119k€83k▼
Amounts payable after more than one year17€24k€15k▼
Financial debts170/4€24k€15k▼
Amounts payable within one year42/48€95k€68k▼
Current portion of amounts payable after more than one year42€9k€9k▲
Financial debts43€11k€4k▼
Credit institutions430/8€11k€4k▼
Trade debts44€9k€3k▼
Suppliers440/4€9k€3k▼
Other amounts payable47/48€67k€51k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€19k€11k▼
Other operating charges640/8€2k€2k▲
Gross operating margin9900€34k€11k▼
Operating profit (loss)9901€13k€-3k▼
Financial income75/76B€43€299▲
Recurring financial income75€43€299▲
Financial charges65/66B€3k€3k▲
Recurring financial charges65€3k€3k▲
Profit (loss) for the period before taxes9903€10k€-5k▼
Income taxes67/77€2k€-5k▼
Profit (loss) for the period9904€9k€-240▼
Profit (loss) for the period to be appropriated9905€9k€-240▼
Appropriation of the result
Profit (loss) to be appropriated9906€41k€40k▼
Profit (loss) brought forward from the previous period14P€32k€41k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24k | €26k | €25k | €19k | €11k | ▼ 42.8% |
| Other operating charges640/8 | €1k | €1k | €2k | €2k | €2k | ▲ 25.5% |
| Gross operating margin9900 | €70k | €26k | €24k | €34k | €11k | ▼ 68.9% |
| Operating profit (loss)9901 | €44k | €-1k | €-4k | €13k | €-3k | ▼ 120% |
| Financial income75/76B | - | €56 | - | €43 | €299 | ▲ 596% |
| Recurring financial income75 | - | €56 | - | €43 | €299 | ▲ 596% |
| Financial charges65/66B | €4k | €4k | €4k | €3k | €3k | ▲ 3.5% |
| Recurring financial charges65 | €4k | €4k | €4k | €3k | €3k | ▲ 3.5% |
| Profit (loss) for the period before taxes9903 | €40k | €-5k | €-8k | €10k | €-5k | ▼ 152% |
| Income taxes67/77 | €848 | €1k | €5k | €2k | €-5k | ▼ 431% |
| Profit (loss) for the period9904 | €39k | €-6k | €-13k | €9k | €-240 | ▼ 103% |
| Profit (loss) for the period to be appropriated9905 | €39k | €-6k | €-13k | €9k | €-240 | ▼ 103% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €225k | €205k | €182k | €180k | €144k | ▼ 20.3% |
| Fixed assets21/28 | €185k | €163k | €138k | €119k | €110k | ▼ 7.6% |
| Tangible fixed assets22/27 | €184k | €162k | €137k | €118k | €109k | ▼ 7.7% |
| Land and buildings22 | €139k | €131k | €123k | €115k | €107k | ▼ 6.9% |
| Plant, machinery and equipment23 | €40k | €27k | €11k | €1k | €1k | ▲ 31.3% |
| Furniture and vehicles24 | €5k | €4k | €3k | €1k | - | - |
| Financial fixed assets28 | €850 | €850 | €850 | €850 | €850 | = |
| Current assets29/58 | €39k | €41k | €44k | €62k | €34k | ▼ 44.8% |
| Stocks and contracts in progress3 | €13k | €16k | €17k | €16k | €13k | ▼ 16.2% |
| Stocks30/36 | €13k | €16k | €17k | €16k | €13k | ▼ 16.2% |
| Amounts receivable within one year40/41 | €2k | €3k | €17k | €37k | €21k | ▼ 44.0% |
| Trade receivables40 | €2k | - | €8k | €35k | €14k | ▼ 60.3% |
| Other amounts receivable41 | - | €3k | €9k | €2k | €7k | ▲ 189% |
| Cash at bank and in hand54/58 | €11k | €11k | - | - | - | - |
| Deferred charges and accrued income490/1 | €13k | €11k | €10k | €9k | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €225k | €205k | €182k | €180k | €144k | ▼ 20.3% |
| Equity10/15 | €71k | €65k | €53k | €61k | €61k | ▼ 0.4% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | €19k | €19k | €19k | - | - | - |
| Issued capital100 | €19k | €19k | €19k | - | - | - |
| Outside capital11 | - | - | - | €19k | €19k | = |
| Other1109/19 | - | - | - | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | €2k | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €51k | €45k | €32k | €41k | €40k | ▼ 0.6% |
| Amounts payable17/49 | €153k | €139k | €130k | €119k | €83k | ▼ 30.6% |
| Amounts payable after more than one year17 | €73k | €55k | €45k | €24k | €15k | ▼ 39.1% |
| Financial debts170/4 | €73k | €55k | €45k | €24k | €15k | ▼ 39.1% |
| Amounts payable within one year42/48 | €80k | €84k | €85k | €95k | €68k | ▼ 28.4% |
| Current portion of amounts payable after more than one year42 | - | €1k | - | €9k | €9k | ▲ 3.2% |
| Financial debts43 | - | - | €11k | €11k | €4k | ▼ 59.6% |
| Credit institutions430/8 | - | - | €11k | €11k | €4k | ▼ 59.6% |
| Trade debts44 | €1k | €3k | €2k | €9k | €3k | ▼ 63.8% |
| Suppliers440/4 | €1k | €3k | €2k | €9k | €3k | ▼ 63.8% |
| Taxes, remuneration and social security45 | €369 | - | - | - | - | - |
| Taxes450/3 | €369 | - | - | - | - | - |
| Other amounts payable47/48 | €78k | €80k | €71k | €67k | €51k | ▼ 23.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39k | €-6k | €-13k | €9k | €-240 | ▼ 103% |
| + Depreciation and write-downs630 | €24k | €26k | €25k | €19k | €11k | ▼ 42.8% |
| Operating cash flow (approximation) | €63k | €20k | €13k | €28k | €11k | ▼ 61.3% |
| Investment in fixed assets (approximation) | - | €-4k | €0 | €0 | €-2k | - |
| Change in cash | - | €-806 | - | - | - | - |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 18 days late
2025
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
14-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 198 days late
2024
31-12
Financial
Back to profitnet €9k
Net result €9k after 2 loss-making years.
2023
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 23 days late
2021
31-12
Financial
Back to profitnet €39k
Net result €39k after one loss-making year.
10-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 41 days late
2020
09-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 40 days late
2019
31-12
Financial
Back to profitnet €12k
Net result €12k after one loss-making year.
06-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 37 days late
2018
26-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 26 days late
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
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, Kapellen · 1 establishment unit since 2013
Ground area
1,140 m²
Building footprint
153 m²
Volume, LiDAR
862 m³
Parcel 11362H0380/00R004, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Red Line
since 20132.219.671.784
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11362H0380/00R004 | Flanders | 1,140 m² | 1 · 153 m² | 9.0 m · 2 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.
Recognitions · licences · registrations
Dual-learning approval
8 endedInterieurbouwer duaal (so)
Binnenschrijnwerker (so)
Interieurbouwer (so)
Machinaal houtbewerker (so)
Plaatser binnenschrijnwerk (so)
Plaatser interieurelementen (so)
Productiemedewerker interieurbouw (so)
Werkplaatsbinnenschrijnwerker hout (so)
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Of 20,018 companies in sector 43320 we hold annual accounts for 9,132. 7,535 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
Founded23-05-2013
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
Scores and ratios are computed by Checked and are not a credit decision.