REFAI
ActiveSummary
The computed 12-month bankruptcy probability of REFAI is 1.7% (moderate). The 2025 annual accounts show negative equity (-€19,597) and a net result of €1,250. Equity is shrinking by ~10.3% per year across the filed fiscal years. Its solvency ranks better than 5% of 4670 sector peers (fiscal year 2025). The company has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency0=
Growth51=
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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 2025Age of the figures
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 4670 sector peers (2025).
NBB · sector comparisonPosition among 4670 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-09-2026, 40 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 · 8 filingsDeviation from the deadline
2025
40 d late
2024
117 d late
2023
56 d late
2022
61 d late
2021
89 d late
2019
59 d late
2018
30 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 65 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 48% 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.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€22,725▲ 4.1%
2018 · €21,835
EBIT margin
-1.0%▲ 21.6pp
2018 · -22.6%
Net result
€1,250▼ 78.2%
2024 · €5,747
Working capital
-€19,597▲ 6.0%
2024 · -€20,847
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€22,725
Operating result-€20,374--€221▲ 98.9%€2,238€5,908▲ 164%€1,404▼ 76.2%
Net result-€18,122-€1,608€13,317▲ 728%€5,747▼ 56.8%€1,250▼ 78.2%
EBIT margin-1.0%
Equity-€41,519--€39,911▲ 3.9%-€26,594▲ 33.4%-€20,847▲ 21.6%-€19,597▲ 6.0%
Total assets€562-€244▼ 56.6%€2,919▲ 1,097%€2,097▼ 28.2%€2,725▲ 30.0%
Debt€42,081-€40,154▼ 4.6%€29,513▼ 26.5%€22,944▼ 22.3%€22,322▼ 2.7%
Working capital-€36,596--€34,988▲ 4.4%-€26,594▲ 24.0%-€20,847▲ 21.6%-€19,597▲ 6.0%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 76% below 2024.
Key figures and ratios
Debt ≤ 1 year
€22,322▼
2024 · €22,944
Ratios withheld: a balance sheet total of €2,725 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €22,725 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €21,939 | - | - | - | - |
| Other operating charges640/8 | €500 | €1,006 | - | €387 | €463 | ▲ 19.6% |
| Gross operating margin9900 | -€19,874 | €785 | €2,238 | €6,295 | €1,867 | ▼ 70.3% |
| Operating profit (loss)9901 | -€20,374 | -€221 | €2,238 | €5,908 | €1,404 | ▼ 76.2% |
| Financial income75/76B | €2,420 | €2,000 | €16,529 | - | - | - |
| Recurring financial income75 | €2,420 | €2,000 | €16,529 | - | - | - |
| Non-recurring financial income76B | €2,420 | €2,000 | €16,529 | - | - | - |
| Financial charges65/66B | €168 | €172 | €153 | €161 | €154 | ▼ 4.3% |
| Recurring financial charges65 | €168 | €172 | €153 | €161 | €154 | ▼ 4.3% |
| Profit (loss) for the period before taxes9903 | -€18,122 | €1,608 | €18,613 | €5,747 | €1,250 | ▼ 78.2% |
| Income taxes67/77 | - | - | €5,297 | - | - | - |
| Profit (loss) for the period9904 | -€18,122 | €1,608 | €13,317 | €5,747 | €1,250 | ▼ 78.2% |
| Profit (loss) for the period to be appropriated9905 | -€18,122 | €1,608 | €13,317 | €5,747 | €1,250 | ▼ 78.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €562 | €244 | €2,919 | €2,097 | €2,725 | ▲ 30.0% |
| Current assets29/58 | €562 | €244 | €2,919 | €2,097 | €2,725 | ▲ 30.0% |
| Cash at bank and in hand54/58 | €562 | €244 | €2,919 | €2,097 | €2,725 | ▲ 30.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €562 | €244 | €2,919 | €2,097 | €2,725 | ▲ 30.0% |
| Equity10/15 | -€41,519 | -€39,911 | -€26,594 | -€20,847 | -€19,597 | ▲ 6.0% |
| Contributions10/11 | €12,410 | €12,410 | €12,410 | €12,410 | €12,410 | = |
| Capital10 | €12,410 | €12,410 | €12,410 | - | - | - |
| Issued capital100 | €18,600 | €18,600 | €12,410 | - | - | - |
| Uncalled capital101 | €6,190 | €6,190 | - | - | - | - |
| Outside capital11 | - | - | - | €12,410 | - | - |
| Other1109/19 | - | - | - | €12,410 | - | - |
| Profit (loss) carried forward14 | -€53,928 | -€52,320 | -€39,004 | -€33,257 | -€32,006 | ▲ 3.8% |
| Amounts payable17/49 | €42,081 | €40,154 | €29,513 | €22,944 | €22,322 | ▼ 2.7% |
| Amounts payable within one year42/48 | €37,158 | €35,232 | €29,513 | €22,944 | €22,322 | ▼ 2.7% |
| Trade debts44 | €125 | €125 | €125 | €250 | €63 | ▼ 74.6% |
| Suppliers440/4 | €125 | €125 | €125 | €250 | €63 | ▼ 74.6% |
| Taxes, remuneration and social security45 | €10,653 | €5,807 | €6,950 | €7,335 | €6,900 | ▼ 5.9% |
| Taxes450/3 | €714 | €3,117 | €6,950 | €7,335 | €6,900 | ▼ 5.9% |
| Remuneration and social security454/9 | €9,939 | €2,690 | - | - | - | - |
| Other amounts payable47/48 | €26,380 | €29,300 | €22,439 | €15,359 | €15,359 | = |
| Accrued charges and deferred income492/3 | €4,923 | €4,923 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,122 | €1,608 | €13,317 | €5,747 | €1,250 | ▼ 78.2% |
| Operating cash flow (approximation) | -€18,122 | €1,608 | €13,317 | €5,747 | €1,250 | ▼ 78.2% |
| Change in cash | - | -€318 | €2,675 | -€822 | €628 | ▲ 176% |
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
09-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 40 days late
2025
25-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 117 days late
2024
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 56 days late
2023
31-12
Financial
Highest result since 2018net €13,317 ▲728%
Net result €13,317, the highest in the series.
30-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 61 days late
2022
31-12
Financial
Back to profitnet €1,608
Net result €1,608 after 3 loss-making years.
28-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 89 days late
2021
31-12
Financial
Weakest financial yearnet -€18,122
Net result drops to -€18,122, the lowest in the series; recovery starts the following year.
2020
28-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 59 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 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, Anderlecht · 1 establishment unit since 2016
Ground area
66 m²
Building footprint
44 m²
Volume, LiDAR
665 m³
Parcel 21001A0606/00G002, Brussels · tallest building 17.5 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
REFAI
since 20162.255.522.093
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21001A0606/00G002 | Brussels | 66 m² | 1 · 44 m² | 17.5 m · 5 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
ALPHA’S INVESTMENTS
BE 0804.211.063
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ABDULHALIM
BE 0810.187.748
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COIFFURE ANAIS
BE 0891.060.905
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't Haarmoment
BE 1002.612.883
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MUSZY'S STYLE BV
BE 0789.523.481
Genk · Eq €1,268
Of 21,734 companies in sector 96210 we hold annual accounts for 2,827. 1,164 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
Founded20-07-2016
Fiscal year end31-12
Activities, NACEBEL 2025
96210Hairdressing and barber services
Scores and ratios are computed by Checked and are not a credit decision.