REECO
ActiveSummary
The computed 12-month bankruptcy probability of REECO is 3.9% (moderate). The 2024 annual accounts show negative equity (-€99,165) and a net result of -€7,712. Equity is shrinking by ~78% per year across the filed fiscal years. Its solvency ranks better than 5% of 9974 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability18▲+18
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
3.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.54 against 0.59 in 2023; short-term debt: 179.5% and cash: 0.6% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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
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 2024Solvency, return and age of the figures
Solvency
-79.5%
Return on assets
-6.2%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
21222324
2021 to 2024 · latest year -€99,165
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-09-2025, 42 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
42 d late
2023
12 d late
2022
18 d late
2021
347 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 105 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
-€99,165▼ 8.4%
2023 · -€91,453
Total assets
€124,791▼ 15.5%
2023 · €147,646
Net result
-€7,712▲ 94.9%
2023 · -€150,525
Working capital
-€103,485▼ 6.6%
2023 · -€97,053
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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
Line2021202220232024
Operating result€118,361--€51,676-€142,412▼ 176%€7,006
Net result€94,351above the sector's middle half--€50,279below the sector's middle half-€150,525below the sector's middle half▼ 199%-€7,712below the sector's middle half▲ 94.9%
Equity€109,351above the sector's middle half-€59,072within the sector's middle half▼ 46.0%-€91,453below the sector's middle half-€99,165below the sector's middle half▼ 8.4%
Total assets€176,120within the sector's middle half-€209,769within the sector's middle half▲ 19.1%€147,646within the sector's middle half▼ 29.6%€124,791within the sector's middle half▼ 15.5%
Debt€66,769-€150,697▲ 126%€239,099▲ 58.7%€223,957▼ 6.3%
Working capital€84,151-€48,449▼ 42.4%-€97,053-€103,485▼ 6.6%
Solvency62.1%above the sector's middle half-28.2%within the sector's middle half▼ 33.9pp-61.9%below the sector's middle half▼ 90.1pp-79.5%below the sector's middle half▼ 17.5pp
Staff (FTE)11=1=
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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 returns to profit in 2024: €7,006 after a loss of €142,412 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €124,791
Fixed assets
€4,320 ▼ 22.9%
Current assets
€120,471 ▼ 15.2%
Key figures and ratios
EBITDA
€9,260▲
2023 · -€136,336
Cash flow
-€5,458▲
2023 · -€144,449
Current ratio
0.54▼
2023 · 0.59
Debt to equity
-2.26▲
2023 · -2.61
ROA
-6.2%▲
2023 · -102.0%
Interest coverage
0.82▲
2023 · -16.80
Debt ≤ 1 year
€223,957▼
2023 · €239,099
Income taxes
€3,485
Staff costs
€53,787▼
2023 · €54,020
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,570 companies that looked in July 2024 the way this one looks now, 4.6% went bankrupt within 24 months and 88% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a small loss
4.6%
went bankrupt
5.5%
stopped otherwise
88%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.9% 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 1,570 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 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €29,703 | €54,020 | €53,787 | ▼ 0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,239 | €5,718 | €6,076 | €2,254 | ▼ 62.9% |
| Other operating charges640/8 | €2,546 | €1,108 | €1,669 | €9,662 | ▲ 479% |
| Gross operating margin9900 | €138,147 | -€15,147 | -€80,647 | €72,709 | ▲ 190% |
| Operating profit (loss)9901 | €118,361 | -€51,676 | -€142,412 | €7,006 | ▲ 105% |
| Financial income75/76B | €7,587 | €7,089 | - | - | - |
| Recurring financial income75 | €7,587 | €7,089 | - | - | - |
| Financial charges65/66B | €656 | €5,691 | €8,113 | €11,233 | ▲ 38.5% |
| Recurring financial charges65 | €656 | €5,691 | €8,113 | €11,233 | ▲ 38.5% |
| Profit (loss) for the period before taxes9903 | €125,293 | -€50,279 | -€150,525 | -€4,227 | ▲ 97.2% |
| Income taxes67/77 | €30,942 | - | - | €3,485 | - |
| Profit (loss) for the period9904 | €94,351 | -€50,279 | -€150,525 | -€7,712 | ▲ 94.9% |
| Profit (loss) for the period to be appropriated9905 | €94,351 | -€50,279 | -€150,525 | -€7,712 | ▲ 94.9% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €176,120 | €209,769 | €147,646 | €124,791 | ▼ 15.5% |
| Fixed assets21/28 | €25,200 | €10,623 | €5,600 | €4,320 | ▼ 22.9% |
| Tangible fixed assets22/27 | €25,200 | €10,623 | €5,600 | €4,320 | ▼ 22.9% |
| Plant, machinery and equipment23 | €2,788 | €1,806 | €1,711 | €1,059 | ▼ 38.1% |
| Furniture and vehicles24 | €22,412 | €8,817 | €3,890 | €3,261 | ▼ 16.2% |
| Current assets29/58 | €150,920 | €199,147 | €142,045 | €120,471 | ▼ 15.2% |
| Amounts receivable within one year40/41 | €149,253 | €195,665 | €139,283 | €117,877 | ▼ 15.4% |
| Trade receivables40 | €20,435 | €82,594 | €133,393 | €111,524 | ▼ 16.4% |
| Other amounts receivable41 | €128,818 | €113,071 | €5,890 | €6,353 | ▲ 7.9% |
| Cash at bank and in hand54/58 | - | - | €1,254 | €753 | ▼ 40.0% |
| Deferred charges and accrued income490/1 | €1,668 | €3,481 | €1,508 | €1,842 | ▲ 22.1% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €176,120 | €209,769 | €147,646 | €124,791 | ▼ 15.5% |
| Equity10/15 | €109,351 | €59,072 | -€91,453 | -€99,165 | ▼ 8.4% |
| Contributions10/11 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Reserves13 | €94,351 | €44,072 | - | - | - |
| Distributable reserves133 | €94,351 | €44,072 | - | - | - |
| Profit (loss) carried forward14 | - | - | -€106,453 | -€114,165 | ▼ 7.2% |
| Amounts payable17/49 | €66,769 | €150,697 | €239,099 | €223,957 | ▼ 6.3% |
| Amounts payable within one year42/48 | €66,769 | €150,697 | €239,099 | €223,957 | ▼ 6.3% |
| Current portion of amounts payable after more than one year42 | - | €15,197 | €15,197 | €15,197 | = |
| Financial debts43 | €4,982 | - | - | - | - |
| Credit institutions430/8 | €4,982 | - | - | - | - |
| Trade debts44 | €30,845 | €25,134 | €74,320 | €99,181 | ▲ 33.5% |
| Suppliers440/4 | €30,845 | €25,134 | €74,320 | €99,181 | ▲ 33.5% |
| Advances received on contracts in progress46 | - | €39,734 | €39,734 | €49,645 | ▲ 24.9% |
| Taxes, remuneration and social security45 | €30,942 | €51,746 | €40,749 | €38,472 | ▼ 5.6% |
| Taxes450/3 | €30,942 | €30,942 | €30,942 | €10,050 | ▼ 67.5% |
| Remuneration and social security454/9 | - | €20,804 | €9,808 | €28,421 | ▲ 190% |
| Other amounts payable47/48 | - | €18,887 | €69,098 | €21,462 | ▼ 68.9% |
| Line | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €94,351 | -€50,279 | -€150,525 | -€7,712 | ▲ 94.9% |
| + Depreciation and write-downs630 | €17,239 | €5,718 | €6,076 | €2,254 | ▼ 62.9% |
| Operating cash flow (approximation) | €111,590 | -€44,560 | -€144,449 | -€5,458 | ▲ 96.2% |
| Investment in fixed assets (approximation) | - | €8,859 | -€1,054 | -€974 | ▲ 7.6% |
| Change in cash | - | - | - | -€501 | - |
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
2025
11-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 42 days late
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
31-12
Financial
Weakest financial yearnet -€150,525
Net result drops to -€150,525, the lowest in the series; recovery starts the following year.
18-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 18 days late
13-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 347 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, Antwerpen · 1 establishment unit since 2020
Ground area
8,575 m²
Building footprint
306 m²
Volume, LiDAR
2,571 m³
2 parcels, Flanders · tallest building 18.3 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
REECO
since 20202.310.878.411
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11037B0049/00D000 | Flanders | 8,502 m² | 1 · 240 m² | 12.5 m · 2 fl. |
| 11803C0718/00D000 | Flanders | 73 m² | 1 · 66 m² | 18.3 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,052. 13,185 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
Founded07-09-2020
Fiscal year end31-12
Activities, NACEBEL 2025
31004Manufacture of dining room, living room, bedroom and bathroom furniture
41001General construction of residential buildings
43211General electrical installation work
43230Insulation installation
43240Other construction installation
43331Floor and wall tiling
71111Activities of building architects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0753764432
Also
9925:BE0753764432
Registered
13-02-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.