REKOFIN
ActiveSummary
REKOFIN has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €28,327 and a net result of -€23,925. Equity is shrinking by ~22% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 32% of 14258 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability8▼-1
Solvency35▼-7
Growth32=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,000 at 30 days only on tighter terms
Liquidity short (current ratio 0.02 against 0.03 in 2024; short-term debt: 90.3% and cash: 0.9% of total assets), and 90.3% of the assets are financed with debt.
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Signals
Six 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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 2025Solvency, return and age of the figures
Solvency
9.7%
Return on assets
-8.2%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€23,925
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 26 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 · 10 filingsDeviation from the deadline
2025
26 d late
2024
27 d late
2023
23 d late
2022
6 d early
2021
26 d late
2020
25 d late
2019
26 d late
← 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 21 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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. Usually files around 26 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€28,327▼ 45.8%
2024 · €52,252
Total assets
€291,718▼ 2.6%
2024 · €299,630
Net result
-€23,925▼ 1.5%
2024 · -€23,570
Working capital
-€257,956▼ 7.6%
2024 · -€239,711
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€11,188▲ 65.1%-€20,256▼ 81.0%-€13,914▲ 31.3%-€19,521▼ 40.3%-€20,331▼ 4.1%
Net result-€14,151below the sector's middle half▲ 61.0%-€23,120below the sector's middle half▼ 63.4%-€17,799below the sector's middle half▲ 23.0%-€23,570below the sector's middle half▼ 32.4%-€23,925below the sector's middle half▼ 1.5%
Equity€116,741within the sector's middle half▼ 10.7%€93,621within the sector's middle half▼ 19.8%€75,822within the sector's middle half▼ 19.0%€52,252within the sector's middle half▼ 31.1%€28,327within the sector's middle half▼ 45.8%
Total assets€321,149within the sector's middle half▼ 4.4%€309,754within the sector's middle half▼ 3.5%€300,160within the sector's middle half▼ 3.1%€299,630within the sector's middle half▼ 0.2%€291,718within the sector's middle half▼ 2.6%
Debt€204,408▼ 0.5%€216,133▲ 5.7%€224,338▲ 3.8%€247,378▲ 10.3%€263,391▲ 6.5%
Working capital-€202,185below the sector's middle half▼ 1.2%-€213,878below the sector's middle half▼ 5.8%-€211,812below the sector's middle half▲ 1.0%-€239,711below the sector's middle half▼ 13.2%-€257,956below the sector's middle half▼ 7.6%
Solvency36.4%within the sector's middle half▼ 2.5pp30.2%within the sector's middle half▼ 6.1pp25.3%within the sector's middle half▼ 5.0pp17.4%within the sector's middle half▼ 7.8pp9.7%within the sector's middle half▼ 7.7pp
Current ratio0.01below the sector's middle half▼ 0.020.01below the sector's middle half=0.01below the sector's middle half=0.03below the sector's middle half▲ 0.020.02below the sector's middle half▼ 0.01
Return on assets (ROA)-4.4%below the sector's middle half▲ 6.4pp-7.5%below the sector's middle half▼ 3.1pp-5.9%below the sector's middle half▲ 1.5pp-7.9%below the sector's middle half▼ 1.9pp-8.2%below the sector's middle half▼ 0.3pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €20,331 in 2025 against €19,521 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €291,718
Fixed assets
€286,283 ▼ 1.9%
Current assets
€5,435 ▼ 29.1%
Equity and liabilities €291,718
Equity
€28,327 ▼ 45.8%
Debt
€263,391 ▲ 6.5%
Debt's share of the balance-sheet total rises from 82.6% to 90.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€14,651▼
2024 · -€13,841
Cash flow
-€18,244▼
2024 · -€17,889
Debt to equity
9.30▲
2024 · 4.73
ROE
-84.5%▼
2024 · -45.1%
Interest coverage
-4.08▼
2024 · -3.42
Debt ≤ 1 year
€263,391▲
2024 · €247,378
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 | €11,405 | €11,405 | €9,912 | €5,681 | €5,681 | = |
| Other operating charges640/8 | €2,458 | €3,340 | €2,793 | €2,822 | €4,933 | ▲ 74.8% |
| Gross operating margin9900 | €2,675 | -€5,511 | -€1,208 | -€11,019 | -€9,718 | ▲ 11.8% |
| Operating profit (loss)9901 | -€11,188 | -€20,256 | -€13,914 | -€19,521 | -€20,331 | ▼ 4.1% |
| Financial charges65/66B | €2,963 | €2,864 | €3,885 | €4,048 | €3,593 | ▼ 11.2% |
| Recurring financial charges65 | €2,963 | €2,864 | €3,885 | €4,048 | €3,593 | ▼ 11.2% |
| Profit (loss) for the period before taxes9903 | -€14,151 | -€23,120 | -€17,799 | -€23,570 | -€23,925 | ▼ 1.5% |
| Profit (loss) for the period9904 | -€14,151 | -€23,120 | -€17,799 | -€23,570 | -€23,925 | ▼ 1.5% |
| Profit (loss) for the period to be appropriated9905 | -€14,151 | -€23,120 | -€17,799 | -€23,570 | -€23,925 | ▼ 1.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €321,149 | €309,754 | €300,160 | €299,630 | €291,718 | ▼ 2.6% |
| Fixed assets21/28 | €318,961 | €307,556 | €297,644 | €291,963 | €286,283 | ▼ 1.9% |
| Tangible fixed assets22/27 | €102,266 | €90,861 | €80,948 | €75,268 | €69,587 | ▼ 7.5% |
| Land and buildings22 | €102,266 | €90,861 | €80,948 | €75,268 | €69,587 | ▼ 7.5% |
| Financial fixed assets28 | €216,695 | €216,695 | €216,695 | €216,695 | €216,695 | = |
| Current assets29/58 | €2,188 | €2,198 | €2,516 | €7,667 | €5,435 | ▼ 29.1% |
| Amounts receivable within one year40/41 | - | - | - | €3,856 | €1,953 | ▼ 49.4% |
| Trade receivables40 | - | - | - | €106 | €153 | ▲ 43.7% |
| Other amounts receivable41 | - | - | - | €3,750 | €1,800 | ▼ 52.0% |
| Cash at bank and in hand54/58 | €1,395 | €1,337 | €1,586 | €2,860 | €2,524 | ▼ 11.8% |
| Deferred charges and accrued income490/1 | €793 | €861 | €930 | €950 | €958 | ▲ 0.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €321,149 | €309,754 | €300,160 | €299,630 | €291,718 | ▼ 2.6% |
| Equity10/15 | €116,741 | €93,621 | €75,822 | €52,252 | €28,327 | ▼ 45.8% |
| Contributions10/11 | €81,557 | €81,557 | €81,557 | €81,557 | €81,557 | = |
| Reserves13 | €8,245 | €8,245 | €8,245 | €8,245 | €8,245 | = |
| Non-distributable reserves130/1 | €8,180 | €8,180 | €8,180 | €8,180 | €8,180 | = |
| Reserves not available under the articles1311 | €8,180 | €8,180 | €8,180 | €8,180 | €8,180 | = |
| Distributable reserves133 | €64 | €64 | €64 | €64 | €64 | = |
| Profit (loss) carried forward14 | €26,939 | €3,819 | -€13,980 | -€37,550 | -€61,475 | ▼ 63.7% |
| Amounts payable17/49 | €204,408 | €216,133 | €224,338 | €247,378 | €263,391 | ▲ 6.5% |
| Amounts payable within one year42/48 | €204,373 | €216,077 | €214,328 | €247,378 | €263,391 | ▲ 6.5% |
| Trade debts44 | €8,131 | - | €15,138 | €23,902 | €49,756 | ▲ 108% |
| Suppliers440/4 | €8,131 | - | €15,138 | €23,902 | €49,756 | ▲ 108% |
| Advances received on contracts in progress46 | - | - | - | - | €3,000 | - |
| Taxes, remuneration and social security45 | €44 | €809 | €83 | €15 | €476 | ▲ 2,976% |
| Taxes450/3 | €44 | €809 | €83 | €15 | €476 | ▲ 2,976% |
| Other amounts payable47/48 | €196,198 | €215,267 | €199,108 | €223,461 | €210,159 | ▼ 6.0% |
| Accrued charges and deferred income492/3 | €35 | €57 | €10,010 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€14,151 | -€23,120 | -€17,799 | -€23,570 | -€23,925 | ▼ 1.5% |
| + Depreciation and write-downs630 | €11,405 | €11,405 | €9,912 | €5,681 | €5,681 | = |
| Operating cash flow (approximation) | -€2,746 | -€11,715 | -€7,887 | -€17,889 | -€18,244 | ▼ 2.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€58 | €249 | €1,274 | -€336 | ▼ 126% |
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
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
23-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 23 days late
2023
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Weakest financial yearnet -€36,299
Net result drops to -€36,299, the lowest in the series; recovery starts the following year.
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 26 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
13-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 13 days late
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Aalst · 1 establishment unit since 1984
Ground area
97 m²
Building footprint
97 m²
Volume, LiDAR
730 m³
Parcel 41303D0733/00L007, Flanders · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
7
companies at this address
See who is registered here
1 establishment unit
Heilig Hartlaan 30, 9300 Aalst
since 19842.025.990.993
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41303D0733/00L007 | Flanders | 97 m² | 1 · 97 m² | 12.2 m · 3 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
0.93%
According to the 2024 annual accounts of REKOFIN and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 3,762 companies in sector 68321 we hold annual accounts for 1,394. 774 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCoöperatieve vennootschap met beperkte aansprakelijkheid
Founded13-10-1984
Fiscal year end31-12
Activities, NACEBEL 2025
68321Property management for co-owned buildings (syndics)
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426648263
Also
9925:BE0426648263
Registered
05-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.