REFRITEC
ActiveSummary
The computed 12-month bankruptcy probability of REFRITEC is 2.2% (moderate). The 2024 annual accounts show equity of €43,858 and a net result of €34,888. Equity is growing by ~38.2% per year across the filed fiscal years. Its solvency ranks better than 52% of 36377 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+18
Solvency74▲+10
Growth52=
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days only on tighter terms
Liquidity ample (current ratio 1.83 against 1.37 in 2023; short-term debt: 51.2% of total assets), but 51.2% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk
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 →
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
48.8%
Return on assets
38.8%
Age of the figures
21 mo
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 · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-03-2026, 236 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
236 d late
2023
67 d late
2022
122 d late
2021
17 d early
2020
90 d late
2019
53 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 92 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
€15,780▲ 39.7%
2019 · €11,294
EBIT margin
11.2%▲ 36.7pp
2019 · -25.5%
Net result
€34,888▲ 559%
2023 · €5,291
Working capital
€38,213▲ 248%
2023 · €10,975
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
Line20202021202220232024
Turnover€15,780▲ 39.7%
Operating result€1,771-€3,253€7,505€7,124▼ 5.1%€42,600▲ 498%
Net result€1,632-€3,393€6,237€5,291▼ 15.2%€34,888▲ 559%
EBIT margin11.2%▲ 36.7pp
Equity€6,836▲ 31.4%€3,442▼ 49.6%€13,680▲ 297%€18,970▲ 38.7%€43,858▲ 131%
Total assets€8,265▲ 39.1%€8,559▲ 3.6%€21,824▲ 155%€48,741▲ 123%€89,899▲ 84.4%
Debt€1,429▲ 94.0%€5,117▲ 258%€8,144▲ 59.2%€29,771▲ 266%€46,041▲ 54.7%
Working capital€6,836▲ 31.4%€3,442▼ 49.6%€13,680▲ 297%€10,975▼ 19.8%€38,213▲ 248%
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 2024; 2024 is 498% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €89,899
Fixed assets
€5,645 ▼ 29.4%
Current assets
€84,254 ▲ 107%
Equity and liabilities €89,899
Equity
€43,858 ▲ 131%
Debt
€46,041 ▲ 54.7%
Debt's share of the balance-sheet total falls from 61.1% to 51.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€44,950▲
2023 · €8,694
Cash flow
€37,238▲
2023 · €6,861
Current ratio
1.83▲
2023 · 1.37
Debt to equity
1.05▼
2023 · 1.57
ROE
79.5%▲
2023 · 27.9%
ROA
38.8%▲
2023 · 10.9%
Interest coverage
166.30▲
2023 · 38.89
Debt ≤ 1 year
€46,041▲
2023 · €29,771
Income taxes
€7,442▲
2023 · €1,610
Staff costs
€12,570▲
2023 · €7,072
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €15,780 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €7,072 | €12,570 | ▲ 77.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €1,570 | €2,350 | ▲ 49.7% |
| Other operating charges640/8 | - | - | - | €641 | €4,459 | ▲ 596% |
| Non-recurring operating charges66A | - | - | - | - | €0 | - |
| Gross operating margin9900 | €2,019 | -€3,253 | €7,505 | €16,408 | €61,980 | ▲ 278% |
| Operating profit (loss)9901 | €1,771 | -€3,253 | €7,505 | €7,124 | €42,600 | ▲ 498% |
| Financial charges65/66B | - | €141 | €232 | €224 | €270 | ▲ 20.9% |
| Recurring financial charges65 | €139 | €141 | €232 | €224 | €270 | ▲ 20.9% |
| Profit (loss) for the period before taxes9903 | €1,632 | -€3,393 | €7,273 | €6,901 | €42,330 | ▲ 513% |
| Income taxes67/77 | - | - | €1,035 | €1,610 | €7,442 | ▲ 362% |
| Profit (loss) for the period9904 | €1,632 | -€3,393 | €6,237 | €5,291 | €34,888 | ▲ 559% |
| Profit (loss) for the period to be appropriated9905 | €1,632 | -€3,393 | €6,237 | €5,291 | €34,888 | ▲ 559% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €8,265 | €8,559 | €21,824 | €48,741 | €89,899 | ▲ 84.4% |
| Fixed assets21/28 | - | - | - | €7,995 | €5,645 | ▼ 29.4% |
| Tangible fixed assets22/27 | - | - | - | €7,830 | €5,480 | ▼ 30.0% |
| Furniture and vehicles24 | - | - | - | €7,830 | €5,480 | ▼ 30.0% |
| Financial fixed assets28 | - | - | - | €165 | €165 | = |
| Current assets29/58 | €8,265 | €8,559 | €21,824 | €40,746 | €84,254 | ▲ 107% |
| Amounts receivable within one year40/41 | €2,322 | €871 | €6,539 | €24,354 | €56,172 | ▲ 131% |
| Trade receivables40 | - | €322 | €3,783 | €14,693 | €50,296 | ▲ 242% |
| Other amounts receivable41 | - | €549 | €2,756 | €9,661 | €5,875 | ▼ 39.2% |
| Current investments50/53 | - | - | - | - | €28,083 | - |
| Cash at bank and in hand54/58 | €5,943 | €7,688 | €15,285 | €16,392 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €8,265 | €8,559 | €21,824 | €48,741 | €89,899 | ▲ 84.4% |
| Equity10/15 | €6,836 | €3,442 | €13,680 | €18,970 | €43,858 | ▲ 131% |
| Contributions10/11 | €6,200 | €6,200 | €10,200 | €10,200 | €10,200 | = |
| Capital10 | - | €6,200 | €10,200 | - | €10,200 | - |
| Issued capital100 | - | €18,600 | €18,600 | - | €10,200 | - |
| Uncalled capital101 | - | €12,400 | €8,400 | - | - | - |
| Outside capital11 | - | - | - | €10,200 | - | - |
| Other1109/19 | - | - | - | €10,200 | - | - |
| Profit (loss) carried forward14 | €636 | -€2,758 | €3,480 | €8,770 | €33,658 | ▲ 284% |
| Amounts payable17/49 | €1,429 | €5,117 | €8,144 | €29,771 | €46,041 | ▲ 54.7% |
| Amounts payable within one year42/48 | €1,429 | €5,117 | €8,144 | €29,771 | €46,041 | ▲ 54.7% |
| Trade debts44 | €1,236 | €59 | €6,020 | €13,817 | €17,025 | ▲ 23.2% |
| Suppliers440/4 | - | €59 | €6,020 | €13,817 | €17,025 | ▲ 23.2% |
| Taxes, remuneration and social security45 | - | - | €1,035 | €2,346 | €19,016 | ▲ 710% |
| Taxes450/3 | - | - | €1,035 | €1,610 | €19,016 | ▲ 1,081% |
| Remuneration and social security454/9 | - | - | - | €736 | - | - |
| Other amounts payable47/48 | - | €5,059 | €1,089 | €13,608 | €10,000 | ▼ 26.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,632 | -€3,393 | €6,237 | €5,291 | €34,888 | ▲ 559% |
| + Depreciation and write-downs630 | - | - | - | €1,570 | €2,350 | ▲ 49.7% |
| Operating cash flow (approximation) | €1,632 | -€3,393 | €6,237 | €6,861 | €37,238 | ▲ 443% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | €1,745 | €7,597 | €1,107 | - | - |
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
2026
07-09
State Gazette act
Registered office · Legal-form changeRegistered-office move · Director in office3 facts ▸
State Gazette act
Registered office · Legal-form change
Registered-office move · Director in office3 facts ▸
- General meeting, 01-07-2026
- Registered-office move, Avenue de Tervueren 13, boîte 2A, 1040 Etterbeek
- Director in office, Mr El Bekkouche Mostafa (adminsitrateur)
24-03
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 236 days late
2024
31-12
Financial
Highest result since 2018net €34,888 ▲559%
Operating result €42,600, net result €34,888, both a record.
06-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 67 days late
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 122 days late
2022
31-12
Financial
Back to profitnet €6,237
Net result €6,237 after one loss-making year.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 90 days late
2020
31-12
Financial
Back to profitnet €1,632
Net result €1,632 after one loss-making year.
22-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 53 days late
2019
31-12
Financial
Weakest financial yearnet -€3,769
Net result drops to -€3,769, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 8.06
Current ratio from 2.46 to 8.06; short-term debt falls from €6,149 to €737.
03-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 34 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Etterbeek · 1 establishment unit since 2018
Ground area
9,404 m²
Building footprint
1,091 m²
Volume, LiDAR
12,948 m³
2 parcels, Brussels · tallest building 32.3 m, ±8 floors. Linked by address, not a title deed.
29
companies at this address
See who is registered here
1 establishment unit
Energiesys
since 20182.272.662.587
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21306D0232/00W000 | Brussels | 8,562 m² | 1 · 754 m² | 13.1 m · 2 fl. |
| 21005A3004/00A000 | Brussels | 842 m² | 1 · 337 m² | 32.3 m · 8 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 22,832 companies in sector 43211 we hold annual accounts for 10,328. 8,436 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
Founded16-01-2018
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
43222Installation of electric heating, air conditioning, cooling and ventilation
43350Other building finishing work
Scores and ratios are computed by Checked and are not a credit decision.