Summary
Reflejo is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €20,441 and a net result of €4,913. Equity remains stable across the filed fiscal years (±1.6% per year). Its solvency ranks better than 60% of 5565 sector peers (fiscal year 2025). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 01-07-2026, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
129 d early
2023
57 d early
2022
89 d early
2021
60 d early
2020
45 d early
2019
14 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 61 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€20,441▲ 31.6%
2024 · €15,528
Net result
€4,913
2024 · -€765
Total assets
€32,620▲ 7.7%
2024 · €30,280
Solvency
62.7%▲ 11.4pp
2024 · 51.3%
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
Operating result€20,992▲ 143%-€4,730€7,818€1,765▼ 77.4%€8,555▲ 385%
Net result€13,044▲ 143%-€6,064€4,811-€765€4,913
Equity€33,147▲ 39.8%€27,083▼ 18.3%€31,893▲ 17.8%€15,528▼ 51.3%€20,441▲ 31.6%
Total assets€39,633▲ 31.5%€34,334▼ 13.4%€40,213▲ 17.1%€30,280▼ 24.7%€32,620▲ 7.7%
Debt€6,486▲ 0.8%€7,251▲ 11.8%€8,320▲ 14.7%€14,752▲ 77.3%€12,179▼ 17.4%
Working capital€33,028▲ 41.2%€26,734▼ 19.1%€31,737▲ 18.7%€5,676▼ 82.1%€9,766▲ 72.0%
Solvency83.6%▲ 5.0pp78.9%▼ 4.8pp79.3%▲ 0.4pp51.3%▼ 28.0pp62.7%▲ 11.4pp
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 385% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32,620
Fixed assets
€10,675 ▼ 20.2%
Current assets
€21,945 ▲ 29.8%
Equity and liabilities €32,620
Equity
€20,441 ▲ 31.6%
Debt
€12,179 ▼ 17.4%
Debt's share of the balance-sheet total falls from 48.7% to 37.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
24.0%▲
2024 · -4.9%
ROA
15.1%▲
2024 · -2.5%
Debt ≤ 1 year
€12,179▲
2024 · €11,229
Income taxes
€3,222▲
2024 · €1,429
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €198 | €169 | €192 | €1,753 | €3,159 | ▲ 80.2% |
| Other operating charges640/8 | €1,667 | €1,025 | €1,261 | €1,228 | €1,499 | ▲ 22.1% |
| Gross operating margin9900 | €22,857 | -€3,537 | €9,272 | €4,746 | €13,213 | ▲ 178% |
| Operating profit (loss)9901 | €20,992 | -€4,730 | €7,818 | €1,765 | €8,555 | ▲ 385% |
| Financial income75/76B | €17 | €122 | €112 | €124 | €138 | ▲ 10.8% |
| Recurring financial income75 | €17 | €122 | €112 | €124 | €138 | ▲ 10.8% |
| Financial charges65/66B | €1,210 | €903 | €698 | €1,226 | €558 | ▼ 54.4% |
| Recurring financial charges65 | €1,210 | €903 | €698 | €1,226 | €558 | ▼ 54.4% |
| Profit (loss) for the period before taxes9903 | €19,799 | -€5,511 | €7,233 | €664 | €8,135 | ▲ 1,125% |
| Income taxes67/77 | €6,756 | €553 | €2,422 | €1,429 | €3,222 | ▲ 125% |
| Profit (loss) for the period9904 | €13,044 | -€6,064 | €4,811 | -€765 | €4,913 | ▲ 742% |
| Profit (loss) for the period to be appropriated9905 | €13,044 | -€6,064 | €4,811 | -€765 | €4,913 | ▲ 742% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €39,633 | €34,334 | €40,213 | €30,280 | €32,620 | ▲ 7.7% |
| Fixed assets21/28 | €119 | €349 | €156 | €13,375 | €10,675 | ▼ 20.2% |
| Tangible fixed assets22/27 | €119 | €349 | €156 | €13,375 | €10,675 | ▼ 20.2% |
| Plant, machinery and equipment23 | - | €289 | €156 | €23 | €318 | ▲ 1,263% |
| Furniture and vehicles24 | €119 | €59 | - | €13,352 | €10,357 | ▼ 22.4% |
| Current assets29/58 | €39,514 | €33,985 | €40,057 | €16,905 | €21,945 | ▲ 29.8% |
| Amounts receivable within one year40/41 | €8,715 | €15,733 | €5,470 | €10,830 | €13,076 | ▲ 20.7% |
| Trade receivables40 | €6,269 | €12,365 | €2,947 | €7,727 | €9,406 | ▲ 21.7% |
| Other amounts receivable41 | €2,446 | €3,369 | €2,524 | €3,104 | €3,670 | ▲ 18.3% |
| Cash at bank and in hand54/58 | €29,952 | €17,706 | €33,850 | €5,373 | €7,801 | ▲ 45.2% |
| Deferred charges and accrued income490/1 | €847 | €545 | €736 | €702 | €1,067 | ▲ 52.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €39,633 | €34,334 | €40,213 | €30,280 | €32,620 | ▲ 7.7% |
| Equity10/15 | €33,147 | €27,083 | €31,893 | €15,528 | €20,441 | ▲ 31.6% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €3,000 | €3,000 | = |
| Reserves13 | €14,547 | €14,547 | €13,892 | €13,892 | €17,441 | ▲ 25.5% |
| Non-distributable reserves130/1 | €655 | €655 | - | - | - | - |
| Reserves not available under the articles1311 | €655 | €655 | - | - | - | - |
| Distributable reserves133 | €13,892 | €13,892 | €13,892 | €13,892 | €17,441 | ▲ 25.5% |
| Profit (loss) carried forward14 | - | -€6,064 | -€599 | -€1,364 | - | - |
| Amounts payable17/49 | €6,486 | €7,251 | €8,320 | €14,752 | €12,179 | ▼ 17.4% |
| Amounts payable after more than one year17 | - | - | - | €3,523 | - | - |
| Financial debts170/4 | - | - | - | €3,523 | - | - |
| Amounts payable within one year42/48 | €6,486 | €7,251 | €8,320 | €11,229 | €12,179 | ▲ 8.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,773 | €3,523 | ▼ 48.0% |
| Trade debts44 | €668 | €2,148 | €810 | €898 | €1,138 | ▲ 26.7% |
| Suppliers440/4 | €668 | €2,148 | €810 | €898 | €1,138 | ▲ 26.7% |
| Taxes, remuneration and social security45 | €2,218 | €5,103 | €7,510 | €3,558 | €7,518 | ▲ 111% |
| Taxes450/3 | €2,218 | €5,103 | €7,510 | €3,558 | €6,768 | ▲ 90.2% |
| Remuneration and social security454/9 | - | - | - | - | €750 | - |
| Other amounts payable47/48 | €3,600 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,044 | -€6,064 | €4,811 | -€765 | €4,913 | ▲ 742% |
| + Depreciation and write-downs630 | €198 | €169 | €192 | €1,753 | €3,159 | ▲ 80.2% |
| Operating cash flow (approximation) | €13,242 | -€5,895 | €5,003 | €988 | €8,072 | ▲ 717% |
| Investment in fixed assets (approximation) | - | -€399 | €0 | -€14,971 | -€459 | ▲ 96.9% |
| Change in cash | - | -€12,246 | €16,144 | -€28,478 | €2,429 | ▲ 109% |
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
01-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €4,913
Net result €4,913 after one loss-making year.
24-03
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
04-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €4,811
Net result €4,811 after one loss-making year.
03-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet -€6,064
Net result drops to -€6,064, the lowest in the series; recovery starts the following year.
01-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2018net €13,044 ▲143%
Operating result €20,992, net result €13,044, both a record.
16-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €252
Net result €252 after one loss-making year.
Show earlier events
31-12
Financial
Liquidity doublescurrent ratio 3.89
Current ratio from 1.78 to 3.89; short-term debt falls from €16,925 to €6,110.
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
19-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
18-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Middelkerke · 1 establishment unit since 2010
Ground area
3,374 m²
Building footprint
131 m²
Volume, LiDAR
669 m³
Parcel 35008C0567/00R000, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Reflejo
since 20102.192.828.025
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35008C0567/00R000 | Flanders | 3,374 m² | 1 · 131 m² | 8.7 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.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 7,465 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
Founded13-09-2010
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70100Activities of head offices
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0829214693
Registered
14-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.