Refrax
ActiveRefrax has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €111k and a net result of €55k. Equity is growing by ~16.4% per year across the filed fiscal years. Its solvency ranks better than 81% of 17022 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
92
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+1
Solvency100=
Growth52=
Track record94
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10k at 30 days acceptable
Liquidity ample (current ratio 6.12 against 5.24 in 2024; short-term debt: 14.7% and cash: 57.3% of total assets), and 14.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
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
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
85.3%
Return on assets
42.5%
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 31-08-2026, 31 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
31 d late
2024
27 d late
2023
21 d late
2022
31 d late
← before the deadline
after the deadline →
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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€111k▼ 28.7%
2024 · €156k
2022: €71k
2023: €130k
2024: €156k
2022 → 2025
Total assets
€130k▼ 31.4%
2024 · €190k
2022: €105k
2023: €165k
2024: €190k
2022 → 2025
Net result
€55k▲ 19.9%
2024 · €46k
2022: €69k
2023: €67k
2024: €46k
2022 → 2025
Working capital
€98k▼ 32.0%
2024 · €144k
2022: €65k
2023: €123k
2024: €144k
2022 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€71k-€130k▲ 83.0%€156k▲ 20.1%€111k▼ 28.7%
Operating result€87k-€81k▼ 6.9%€63k▼ 22.7%€80k▲ 28.3%
Net result€69k-€67k▼ 2.1%€46k▼ 31.6%€55k▲ 19.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 28% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €130k
Fixed assets
€13k▲ 10.9%
Current assets
€117k▼ 34.3%
Equity and liabilities €130k
Equity
€111k▼ 28.7%
Debt
€19k▼ 43.8%
The debt ratio falls from 17.9% to 14.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€85k▲
2024 · €66k
Cash flow
€60k▲
2024 · €50k
Solvency
85.3%▲
2024 · 82.1%
Current ratio
6.12▲
2024 · 5.24
Quick ratio
6.12▲
2024 · 5.24
Debt / equity
0.17▼
2024 · 0.22
ROE
49.8%▲
2024 · 29.6%
ROA
42.5%▲
2024 · 24.3%
Interest coverage
131.67▼
2024 · 185.35
Debt
€19k▼
2024 · €34k
Debt ≤ 1 year
€19k▼
2024 · €34k
Income taxes
€25k▲
2024 · €17k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€190k€130k▼
Fixed assets21/28€12k€13k▲
Tangible fixed assets22/27€11k€13k▲
Plant, machinery and equipment23€5k€5k▲
Furniture and vehicles24€6k€6k▲
Other tangible fixed assets26-€1k
Financial fixed assets28€560€560=
Current assets29/58€178k€117k▼
Amounts receivable within one year40/41€24k€42k▲
Trade receivables40€21k€22k▲
Other amounts receivable41€2k€20k▲
Current investments50/53-€358
Cash at bank and in hand54/58€153k€75k▼
Deferred charges and accrued income490/1€1k€0▼
Equity and liabilities
Total equity and liabilities10/49€190k€130k▼
Equity10/15€156k€111k▼
Contributions10/11€2k€2k=
Reserves13€154k€54k▼
Distributable reserves133€154k€54k▼
Profit (loss) carried forward14€0€55k▲
Amounts payable17/49€34k€19k▼
Amounts payable within one year42/48€34k€19k▼
Financial debts43€147€0▼
Credit institutions430/8€147€0▼
Trade debts44€2k€2k▲
Suppliers440/4€2k€2k▲
Taxes, remuneration and social security45€31k€17k▼
Taxes450/3€29k€15k▼
Remuneration and social security454/9€2k€1k▼
Other amounts payable47/48€533€0▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€5k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€2k€-344▼
Other operating charges640/8€1k€486▼
Gross operating margin9900€69k€85k▲
Operating profit (loss)9901€63k€80k▲
Financial income75/76B€608€1k▲
Recurring financial income75€608€1k▲
Financial charges65/66B€358€644▲
Recurring financial charges65€358€644▲
Profit (loss) for the period before taxes9903€63k€81k▲
Income taxes67/77€17k€25k▲
Profit (loss) for the period9904€46k€55k▲
Profit (loss) for the period to be appropriated9905€46k€55k▲
Appropriation of the result
Profit (loss) to be appropriated9906€46k€55k▲
Profit (loss) brought forward from the previous period14P€0-
Transfer from equity791/2€20k€100k▲
Transfer to equity691/2€46k€0▼
To other reserves6921€46k€0▼
Profit to be distributed694/7€20k€100k▲
Return on contributions (dividend)694€20k€100k▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
31-12
Financial
Weakest financial yearnet €46k ▼31.6%
Net result drops to €46k, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €150kEq €156k ▲20.1%
3 profitable years in a row build equity to €156k.
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
2023
31-12
Financial
Equity above €100kEq €130k ▲83%
2 profitable years in a row build equity to €130k.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Gent · 2 establishment units since 2021
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Oranjerielaan 109030 GentGround area
932 m²
Building footprint
330 m²
Volume, LiDAR
799 m³
2 parcels, Flanders · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Refrax
since 20212.325.502.348
Lange Velden
since 20242.357.009.037
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44074C0563/00B000 | Flanders | 775 m² | 1 · 173 m² | - |
| 44038A0666/00P002 | Flanders | 157 m² | 1 · 157 m² | 7.8 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 692 EUR awarded · 1,052 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 30 EUR | 30 EUR |
| 2023 | 1 | 409 EUR | 769 EUR |
| 2022 | 1 | 253 EUR | 253 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Similar companies · same sector, comparable size
Spark Multimedia @rt
BE 0466.620.973
Antwerpen · Eq €111k
GDC Networks
BE 0753.924.580
Gent · Eq €111k
STONEZ
BE 0891.123.162
Aalter · Eq €111k
E-Sense
BE 0666.913.897
Dendermonde · Eq €111k
Yaren Consult
BE 1005.620.180
Vosselaar · Eq €111k
Of 30,000 companies in sector 62200 we hold annual accounts for 18,394. 15,546 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded23-12-2021
Fiscal year end31-12
Activities, NACEBEL
62020IT consultancy
62200Computer consultancy and computer facilities management
70200Business and other management consultancy
70210Activities of head offices; management consultancy activities
70220Business consulting
71121Engineering and related technical consultancy, excluding land surveyors
71209Other technical testing and analysis
73300Public relations and communication consultancy
82990Other business support services
86909Human health activities
86995Nutrition and dietetics services
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.