REFTECH · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of REFTECH is 2.6% (moderate). The 2024 annual accounts show equity of €33k and a net result of €11k. Equity is growing by ~24.4% per year across the filed fiscal years. Its solvency ranks better than 91% of 11087 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Signals

2 signals · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 91% of 11087 peers (2024). A comfortable equity buffer.

View the sector comparison

Growing equity

Equity grew over 2022-2024. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 12 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 23-08-2025, 23 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.

How we compute the deadline

The year end is derived from 4 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	23-08-2025	23 d late	2025-00407809
31-12-2023	31-07-2024	03-07-2024	28 d early	2024-00209523
31-12-2022	31-07-2023	30-08-2023	30 d late	2023-00411105
31-12-2021	31-07-2022	27-06-2022	34 d early	2022-20101960

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

2.6% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate sector +Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€11k

Working capital€23k+46.8%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 23-08-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

volatile Too volatile to project: the yearly deviation from the trend is ~38% of the level (threshold 35%). We therefore deliberately show no projection line.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 43, Specialised construction · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	79.3%	40.9%	better than 91% of 11087 sector peers
Net result	€11k	€11k	better than 50% of 11069 sector peers
Equity	€33k	€34k	better than 48% of 11090 sector peers
Gross operating margin	€58k	€35k	better than 67% of 11060 sector peers
Staff costs	€39k	€25k	higher than 59% of 4038 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P91

Improving position over 2021-2024 · n=3549-11087

Net result P50

Weakening position over 2021-2024 · n=3540-11069

Equity P48

Stable position over 2021-2024 · n=3552-11090

Gross operating margin P67

Weakening position over 2021-2024 · n=3540-11060

Describes the position versus peers, not a forecast.

EBITDA

€18k

+588.6% 21-24

Net profit

€11k

- 21-24

Cash flow

€14k

+1844.0% 21-24

Total assets

€41k

+24.5% 21-24

Equity

€33k

+53.7% 21-24

Working capital

€23k

+46.8% 21-24

Employees (FTE)

1

- 21-24

Staff costs

€39k

- 21-24

Income taxes

€3k

+143.7% 21-24

Debt

€8k

-27.9% 21-24

Debt ≤ 1y

€8k

-28.2% 21-24

Current ratio

3.80

+60.3% 21-24

Quick ratio

3.80

+60.3% 21-24

Solvency

79.3%

+23.4% 21-24

Debt / equity

0.26

-53.1% 21-24

ROE

34.9%

- 21-24

ROA

27.7%

- 21-24

Interest coverage

16.34

+502.2% 21-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€18k
Net profit	€11k
Cash flow	€14k
Staff costs	€39k
Income taxes	€3k
Dividends	-
Total assets	€41k
Equity	€33k
Debt	€8k
of which ≤ 1y	€8k
of which > 1y	-
Working capital	€23k
Employees (FTE)	0.8

Ratios (computed)

	2024
Current ratio	3.80
Quick ratio	3.80
Working capital ratio	56.2%
Solvency	79.3%
Debt / equity	0.26
Long-term debt ratio	-
Interest coverage	16.34
Gross margin	-
Net margin	-
ROA	27.7%
ROE	34.9%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Assets

Fixed assets €10k · 23.7% Current assets €31k · 76.3%

Equity & liabilities

Equity €33k · 79.3% Debt €8k · 20.7%

Full annual accounts

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€41k
Fixed assets	21/28	€10k
Tangible fixed assets	22/27	€10k
Current assets	29/58	€31k
Amounts receivable within one year	40/41	€8k
Cash & bank	54/58	€23k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€41k
Equity	10/15	€33k
Contributions / capital	10/11	€5k
Accumulated profits (losses)	14	€28k
Amounts payable	17/49	€8k
Amounts payable within one year	42/48	€8k
Trade debts payable within one year	44	€4k
Income statement
Gross operating margin	9900	€58k
Operating result	9901	€15k
Financial income	75	€324
Financial charges	65	€1k
Result before taxes	9903	€15k
Income taxes	67/77	€3k
Net result for the period	9904	€11k
Result to be appropriated	9905	€11k

You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

100 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Structure & network

Locations & real estate

Registered office

from the Crossroads Bank

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.

Rue Culot du Bois(VEL) 1275060 Sambreville

Establishment units

1 location

REFTECH

Rue Culot du Bois(VEL) 127, 5060 SambrevilleVervaardiging van machines en apparaten voor klimaatregeling, voor niet-huishoudelijk gebruik

since 20212.313.923.122

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Parcels1

Ground area138 m²

Buildings1

Building footprint207 m²

Volume (LiDAR)1,053 m³

Tallest building9.7 m · ±1 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
92129D0288/00V011	Wallonia	138 m²	1 · 207 m²	9.7 m · 1 fl.

Methodology

via registered seat: 1

1 of 1 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Publications

Lifecycle & Insolvency Signals

No insolvency signals in the Belgian State Gazette

Belgian State Gazette · acts

No structured acts for this company yet

That means one of two things: the company has published no company deeds, or its deeds are still queued for reading. The insolvency signals above come from a separate source; the KBO register is the second source and appears as the legal situation on this page.

Analysis

Snowflake analysis

financial profile on 5 axes

94 / 100

Exceptional profile, strong across almost every axis.

All 5 axes are computed from data Checked has read.

Health 100

Profitability 100

Solvency 100

Growth 78

Stability 94

Ask AI about this company

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AI due-diligence brief

Checked AI

Generate a structured, factual brief from every signal in this dossier: risk, financial health, ownership, mandates and sector comparison.

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The brief is drafted by our AI model at Anthropic in the US, from this dossier's public data. Nothing that identifies you is sent along and we do not keep the brief. Indicative, not legal or investment advice. How it works

Credit advice

verdict per customer and amount

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We hold annual accounts for 1,428 of the 9,473 companies in this sector. 1,244 of them are within a factor 10 of this company's equity.

See full sector →

Company registry

Company registry (CBE)

Crossroads Bank

Activities

Installatie van verwarming, klimaatregeling en ventilatie43222Installatie van verwarming, klimaatregeling, koeling en ventilatie aangedreven door elektriciteit43222

Primary activity highlighted.

Names & trade names

Legal nameFR

REFTECH

Registered office

Rue Culot du Bois(VEL) 127

5060 Sambreville, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.