REIN4CED
Annual accounts 2024
abbreviated format, filed on 02-06-2025, 59 days before the deadlineGross margin
-€186,519
▲ €95,999
Operating result
-€5.2m
▲ €720,702
EBITDA
-€2.6m
▲ €931,625
Cash flow
-€2.8m
▲ €640,478
Solvency
0.6%
▼ 51.0 percentage points
Current ratio
0.20
▼ 0.45
Money flows
no detail for 2024Balance sheet
balance sheet total €9.2m on 31-12-2024What the company ownsHow it is paid for
Change in equityin €m
Change in cashin €m
Position in the sector
Solvency0.6%
Higher than 11% of 196 companies in 2024.
Current ratio0.20
Lower than 95% of 194 companies in 2024.
Return on assets-58.8%
Lower than 95% of 196 companies in 2024.
REIN4CED
Middle half of the sector
80% of the sector
Abbreviated accounts in rubber and plastics (NACE 22)
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter · Staff: top quarter
Staff
Staff cost per FTE€74,216
Staff costs divided by the average number of full-time equivalents.
Joined and left-4
Training hours in 2024: 492.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
Total assets20/58 |
9.2m | 11.2m | 13.7m | 16.0m | 8.3m | 3.4m | 1.5m | 860,909 | 49,815 | 82,081 | |
Fixed assets21/28 |
7.6m | 8.9m | 8.8m | 9.0m | 7.7m | 2.5m | 1.1m | 58,204 | 15,733 | 23,096 | |
Intangible fixed assets21 |
3.1m | 3.3m | 3.0m | 3.0m | 1.7m | 773,114 | 42,587 | 44,999 | - | - | |
Tangible fixed assets22/27 |
4.5m | 5.5m | 5.7m | 6.0m | 6.0m | 1.7m | 1.0m | 11,235 | 14,318 | 21,681 | |
Plant, machinery and equipment23 |
1.6m | 1.9m | 873,121 | 1.1m | 1.0m | 383,447 | 46,138 | 11,235 | 14,318 | 21,681 | |
Furniture and vehicles24 |
4,033 | 2,141 | 3,676 | 5,494 | 1,153 | 5,935 | - | - | - | - | |
Leasing and similar rights25 |
2.7m | 3.4m | 4.0m | 4.5m | - | - | - | - | - | - | |
Other tangible fixed assets26 |
196,148 | 241,606 | 283,289 | 328,385 | 330,011 | 349,439 | - | - | - | - | |
Assets under construction and advance payments27 |
0 | 2,978 | 584,674 | - | - | 954,411 | 979,303 | - | - | - | |
Financial fixed assets28 |
42,750 | 131,750 | 89,000 | - | - | - | 1,845 | 1,970 | 1,415 | 1,415 | |
Current assets29/58 |
1.6m | 2.2m | 4.9m | 7.0m | 652,444 | 935,577 | 401,328 | 802,705 | 34,082 | 58,984 | |
Amounts receivable after more than one year29 |
198,899 | 191,961 | 163,185 | - | - | - | - | - | - | - | |
Other amounts receivable291 |
198,899 | 191,961 | 163,185 | - | - | - | - | - | - | - | |
Stocks and contracts in progress3 |
411,508 | 395,849 | 322,969 | 322,930 | 30,868 | 5,926 | - | - | - | - | |
Stocks30/36 |
108,583 | 254,240 | 211,131 | 213,437 | 30,868 | 5,926 | - | - | - | - | |
Contracts in progress37 |
302,926 | 141,609 | 111,839 | 109,493 | - | - | - | - | - | - | |
Amounts receivable within one year40/41 |
643,413 | 1.1m | 1.0m | 702,490 | 517,420 | 615,206 | 42,002 | 29,478 | 13,701 | 1,006 | |
Trade receivables40 |
305,026 | 354,904 | 266,630 | 80,632 | 129,826 | 62,026 | 250 | 205 | 7,864 | 141 | |
Other amounts receivable41 |
338,388 | 759,179 | 751,692 | 621,858 | 387,593 | 553,179 | 41,752 | 29,273 | 5,837 | 866 | |
Cash at bank and in hand54/58 |
263,998 | 483,612 | 3.3m | 6.0m | 78,522 | 305,985 | 359,301 | 773,205 | 18,302 | 52,770 | |
Deferred charges and accrued income490/1 |
41,361 | 29,979 | 45,415 | 28,287 | 25,634 | 8,459 | 26 | 21 | 2,079 | 5,209 | |
| Balance sheet: equity and liabilities | |||||||||||
Total equity and liabilities10/49 |
9.2m | 11.2m | 13.7m | 16.0m | 8.3m | 3.4m | 1.5m | 860,909 | 49,815 | 82,081 | |
Equity10/15 |
58,052 | 5.8m | 7.3m | 8.4m | -1.3m | 499,907 | 1.2m | 596,311 | -167,661 | -70,341 | |
Contributions10/11 |
21.3m | 21.3m | 17.3m | 11.3m | 2.4m | 90,976 | 90,976 | 65,146 | 25,000 | 25,000 | |
Capital10 |
399,219 | 399,219 | 323,232 | 243,453 | - | - | - | - | - | - | |
Issued capital100 |
399,219 | 399,219 | 323,232 | 243,453 | 90,976 | 90,976 | 90,976 | 65,146 | 25,000 | 25,000 | |
Contributions outside capital11 |
20.9m | 20.9m | 17.0m | 11.0m | 2.3m | 2.3m | 2.3m | 952,845 | - | - | |
Share premium1100/10 |
20.9m | 20.9m | 17.0m | 11.0m | 2.3m | 2.3m | 2.3m | 952,845 | - | - | |
Profit (loss) carried forward14 |
-22.1m | -16.7m | -10.9m | -3.6m | -4.1m | -2.1m | -1.1m | -421,680 | -192,661 | -95,341 | |
Investment grants15 |
911,051 | 1.2m | 910,445 | 731,980 | 506,429 | 233,495 | - | - | - | - | |
Provisions and deferred taxes16 |
93,993 | 56,762 | 0 | 30,240 | 41,946 | - | - | - | - | - | |
Provisions for liabilities and charges160/5 |
93,993 | 56,762 | 0 | 30,240 | 41,946 | - | - | - | - | - | |
Other liabilities and charges164/5 |
93,993 | 56,762 | 0 | 30,240 | 41,946 | - | - | - | - | - | |
Amounts payable17/49 |
9.1m | 5.3m | 6.4m | 7.6m | 9.6m | 2.9m | 240,612 | 264,598 | 217,476 | 152,422 | |
Amounts payable after more than one year17 |
1.3m | 1.9m | 2.7m | 3.6m | 4.0m | 1.7m | 160,625 | - | - | - | |
Financial debts170/4 |
1.3m | 1.9m | 2.7m | 3.6m | 4.0m | 1.7m | 160,625 | - | - | - | |
Amounts payable within one year42/48 |
7.8m | 3.4m | 3.6m | 3.7m | 5.2m | 1.3m | 79,987 | 264,598 | 217,476 | 152,422 | |
Current portion of amounts payable after more than one year42 |
5.2m | 749,223 | 900,804 | 805,129 | 3.7m | 91,737 | 8,938 | 178,500 | 171,313 | 145,000 | |
Financial debts43 |
1.8m | 1.8m | 1.9m | 1.9m | 1.0m | 750,000 | - | - | - | - | |
Credit institutions430/8 |
1.8m | 1.8m | 1.9m | 1.9m | 1.0m | 750,000 | - | - | - | - | |
Trade debts44 |
561,583 | 490,348 | 372,022 | 532,399 | 454,723 | 375,421 | 37,566 | 80,875 | 15,050 | 2,955 | |
Suppliers440/4 |
561,583 | 490,348 | 372,022 | 532,399 | 454,723 | 375,421 | 37,566 | 80,875 | 15,050 | 2,955 | |
Advances received on contracts in progress46 |
- | 0 | 125,400 | 253,650 | - | - | - | - | - | - | |
Taxes, remuneration and social security45 |
249,417 | 392,376 | 270,604 | 141,913 | 84,465 | 72,901 | 29,421 | 5,205 | 23,600 | 4,200 | |
Taxes450/3 |
- | 0 | 959 | 1,338 | 46 | 3,253 | - | 3,150 | 9,600 | 1,200 | |
Remuneration and social security454/9 |
249,417 | 392,376 | 269,644 | 140,575 | 84,419 | 69,648 | 29,421 | 2,055 | 14,000 | 3,000 | |
Other amounts payable47/48 |
- | 0 | 474 | 478 | - | 59 | 4,063 | 18 | 7,514 | 267 | |
Accrued charges and deferred income492/3 |
0 | 37,964 | 104,370 | 328,897 | 273,431 | - | - | - | - | - | |
| Income statement | |||||||||||
Turnover70 |
- | - | 343,593 | 305,983 | - | - | - | - | - | - | |
Non-recurring operating income76A |
2,441 | - | 0 | 757 | 2,829 | - | - | - | - | - | |
Gross operating margin9900 |
-186,519 | -282,517 | -2.4m | -581,066 | -293,683 | -253,237 | -432,075 | -184,946 | -89,196 | -86,191 | |
Goods, raw materials, services and sundry goods60/61 |
- | - | 4.2m | 3.0m | - | - | - | - | - | - | |
Remuneration, social security and pensions62 |
2.4m | 3.1m | 3.0m | 1.5m | 814,541 | 509,591 | 256,340 | 20,457 | 2,130 | 1,947 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
2.6m | 2.4m | 2.1m | 1.3m | 574,050 | 135,784 | 16,490 | 13,524 | 7,364 | 7,364 | |
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 |
0 | 3,890 | - | - | - | - | - | - | - | - | |
Provisions for liabilities and charges: additions (uses and reversals)635/8 |
37,231 | 56,762 | -30,240 | -11,706 | 41,946 | - | - | - | - | - | |
Other operating charges640/8 |
26,061 | 77,225 | 19,822 | 18,444 | 33,568 | 6,213 | 695 | - | - | 165 | |
Non-recurring operating charges66A |
0 | 7,140 | - | 0 | 32,306 | - | - | - | - | - | |
Operating profit (loss)9901 |
-5.2m | -5.9m | -7.5m | -3.5m | -1.8m | -904,826 | -705,599 | -218,927 | -98,690 | -95,667 | |
Financial income75/76B |
223,902 | 226,378 | 217,806 | 63,981 | 26,655 | 4,153 | 319 | 66 | 5,038 | 446 | |
Recurring financial income75 |
223,902 | 226,378 | 217,806 | 63,981 | 26,655 | 4,153 | 319 | 66 | 5,038 | 446 | |
Financial charges65/66B |
476,037 | 199,298 | 148,885 | 206,168 | 272,404 | 63,504 | 10,392 | 10,205 | 3,662 | 70 | |
Recurring financial charges65 |
476,037 | 199,298 | 148,885 | 206,168 | 272,404 | 63,504 | 10,392 | 10,205 | 3,662 | 70 | |
Profit (loss) for the period before taxes9903 |
-5.5m | -5.9m | -7.4m | -3.6m | -2.0m | -964,178 | -715,672 | -229,066 | -97,314 | -95,291 | |
Income taxes67/77 |
-42,838 | -54,770 | -163,198 | 800 | 601 | 0 | 59 | -47 | 6 | 51 | |
Profit (loss) for the period9904 |
-5.4m | -5.8m | -7.3m | -3.6m | -2.0m | -964,178 | -715,731 | -229,019 | -97,320 | -95,341 | |
Profit (loss) for the period to be appropriated9905 |
-5.4m | -5.8m | -7.3m | -3.6m | -2.0m | -964,178 | -715,731 | -229,019 | -97,320 | -95,341 | |
| Appropriation of the result | |||||||||||
Profit (loss) to be appropriated9906 |
-22.1m | -16.7m | -10.9m | -7.7m | -4.1m | -2.1m | -1.1m | -421,680 | -192,661 | -95,341 | |
Profit (loss) brought forward from the previous period14P |
-16.7m | -10.9m | -3.6m | -4.1m | - | - | - | - | - | - | |
Transfer from equity791/2 |
- | - | 0 | 4.1m | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||
Average staff (FTE)9087 |
32 | 40.2 | 41.8 | 23.6 | 12.1 | 6.9 | 3.5 | - | - | - | |
Hours worked1013 |
46,523 | 63,195 | 66,613 | 39,350 | 19,948 | 11,461 | 5,681 | - | - | - | |
| Document | |||||||||||
The notes to these accounts have 30 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2024 (PDF), filed on 02-06-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | abbreviated format | 02-06-2025 | 2025-00114915 | |
| 31-12-2023 | abbreviated format | 26-07-2024 | 2024-00294282 | |
| 31-12-2022 | abbreviated format | 28-06-2023 | 2023-00175951 | |
| 31-12-2021 | abbreviated format | 02-06-2022 | 2022-20061399 | |
| 31-12-2020 | micro format | 04-08-2021 | 2021-45800474 | |
| 31-12-2019 | micro format | 03-08-2020 | 2020-38700259 | |
| 31-12-2018 | micro format | 04-07-2019 | 2019-29200196 | |
| 31-12-2017 | micro format | 07-08-2018 | 2018-44100283 | |
| 31-12-2016 | micro format | 31-07-2017 | 2017-39900297 | |
| 31-12-2015 | abbreviated format | 25-05-2016 | 2016-13400413 |
Subsidies and aid
Flemish government 2022 to 2025, 10 entries, €678,382 awarded, €553,621 paid
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 4 | €3,041 | €86,495 |
| 2024 | 2 | €986 | €166,973 |
| 2023 | 2 | €623,673 | €274,471 |
| 2022 | 2 | €50,682 | €25,682 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -2.6m | -3.6m | -5.4m | -2.1m | -1.2m | -769,042 | -689,109 | -205,402 | -91,327 | -88,303 | |
| Cash flow | -2.8m | -3.5m | -5.2m | -2.3m | -1.5m | -828,393 | -699,241 | -215,495 | -89,956 | -87,978 | |
| Investment in fixed assets (approximation) | 1.4m | 2.5m | 1.9m | 2.7m | 6.1m | 1.6m | 1.0m | 55,996 | 0 | 30,460 | |
| Change in cash | -219,614 | -2.8m | -2.7m | 5.9m | -227,464 | -53,315 | -413,905 | 754,903 | -34,468 | - | |
| Working capital | -6.2m | -1.2m | 1.3m | 3.4m | -4.6m | -354,541 | 321,341 | 538,107 | -183,394 | -93,438 | |
| Solvency | 0.6% | 51.6% | 53.4% | 52.5% | -15.2% | 14.5% | 83.6% | 69.3% | -336.6% | -85.7% | |
| Current ratio | 0.20 | 0.66 | 1.35 | 1.91 | 0.12 | 0.73 | 5.02 | 3.03 | 0.16 | 0.39 | |
| Quick ratio | 0.15 | 0.54 | 1.26 | 1.83 | 0.12 | 0.72 | 5.02 | 3.03 | 0.16 | 0.39 | |
| Debt to equity | - | 0.93 | 0.87 | 0.90 | - | 5.88 | 0.20 | 0.44 | - | - | |
| ROE | - | -101.4% | -99.6% | -42.9% | - | -192.9% | -58.2% | -38.4% | - | - | |
| ROA | -58.8% | -52.3% | -53.2% | -22.5% | -24.4% | -28.0% | -48.6% | -26.6% | -195.4% | -116.2% | |
| Interest coverage | -5.51 | -17.84 | -36.36 | -10.25 | - | - | - | - | - | - | |
| Customer credit | - | - | 283 days | 96 days | - | - | - | - | - | - | |
| Supplier credit | - | - | 33 days | 64 days | - | - | - | - | - | - |
EBIT margin. Not meaningful: turnover is only a small part of operating income.
A ratio outside any meaningful range has been withheld (balance sheet total €9.2m, equity €58,052).
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 32 | 36 | 46 | 31 |
| full-time | 25 | 28 | 42 | 28 |
| part-time | 7 | 8 | 4 | 3 |
| in full-time equivalents | 30.3 | 34.8 | 45.2 | 30.4 |
| Average over the year, in full-time equivalents | 32 | 40.2 | 41.8 | 23.6 |
| On a permanent contract | 32 | 36 | 46 | 31 |
| Joined | 2 | 5 | 33 | 18 |
| Left | 6 | 15 | 18 | 4 |
| Training hours | 492 | 225 | 477 | 292 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Securities and guarantees
on own assets and for others| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €1.9m | - | - | - |
| Pledge on the business | €1.2m | €1.2m | €1.2m | €1.2m |
| Pledge on other assets, amount secured | €227,342 | €462,041 | €412,068 | €412,068 |
| Carrying value of the other pledged assets | €227,342 | €462,041 | €412,068 | €412,068 |
Source: notes to the 2021 to 2024 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
fixed assets acquired| Item | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Tangible fixed assets | €54,448 | €820,581 | €637,650 | €900,214 |
| Intangible fixed assets | €1.3m | €1.6m | €1.2m | €1.8m |
| Financial fixed assets | - | €42,750 | €89,000 | - |
| Depreciation and write-downs of the year | €2.6m | €2.4m | €2.1m | €1.3m |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Insights on REIN4CED
The operating result for 2024 is a loss of €5.2m, smaller than the loss of €5.9m in 2023.
Debt's share of the balance-sheet total rises from 47.9% to 98.3%. Equity is lower and debt is higher.
Large changes and their cause
- 2021 Net result -77%, Staff (FTE) +95% on 2020. The accounts now follow the abbreviated format, last year the micro format.
- 2021 Total assets +92% on 2020. Capital increase of €4,138,032 (Official Gazette 14-04-2021). Capital increase of €4,138,032 (Official Gazette 14-04-2021).