REMOCO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 21-07-2026 at the NBB all 37 filings
Turnover
€362,479
EBIT margin
0.4%
Net result
-€16,238
2024 · €11,660
Working capital
€29,739▼ 21.7%
2024 · €37,964
In the rankings
#8 oldest company in Halen, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
-€10,931
2025
20182025
Net result
-€16,238
2025
lowest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€75,562
▼ 17.7%
2025
middle half of the sector
20182025
Total assets
€246,825
▼ 13.1%
2025
middle half of the sector
20182025
Debt
€171,263
▼ 10.9%
2025
20182025
Working capital
€29,739
▼ 21.7%
2025
middle half of the sector
20182025
Solvency
30.6%
▼ 1.7pp
2025
middle half of the sector
20182025
Current ratio
1.55
▼ 0.08
2025
middle half of the sector
20182025
Return on assets (ROA)
-6.6%
▼ 10.7pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
2
▲ 11.1%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€362,479
Operating result€3,218-€3,603▲ 12.0%€1,505▼ 58.2%€5,590▲ 271%€6,276▲ 12.3%€22,907▲ 265%€21,135▼ 7.7%-€10,931
Net result€3,969-€5,030▲ 26.7%€446below the sector's middle half▼ 91.1%€2,814within the sector's middle half▲ 531%€3,913within the sector's middle half▲ 39.0%€13,804within the sector's middle half▲ 253%€11,660within the sector's middle half▼ 15.5%-€16,238below the sector's middle half
EBIT margin0.4%
Equity€88,777-€93,807▲ 5.7%€94,252within the sector's middle half▲ 0.5%€95,467within the sector's middle half▲ 1.3%€86,291within the sector's middle half▼ 9.6%€84,109within the sector's middle half▼ 2.5%€91,800within the sector's middle half▲ 9.1%€75,562within the sector's middle half▼ 17.7%
Total assets€278,010-€280,678▲ 1.0%€275,182within the sector's middle half▼ 2.0%€267,375within the sector's middle half▼ 2.8%€271,888within the sector's middle half▲ 1.7%€244,807within the sector's middle half▼ 10.0%€284,109within the sector's middle half▲ 16.1%€246,825within the sector's middle half▼ 13.1%
Debt€189,233-€186,871▼ 1.2%€180,930▼ 3.2%€171,909▼ 5.0%€185,598▲ 8.0%€160,697▼ 13.4%€192,310▲ 19.7%€171,263▼ 10.9%
Working capital€60,879-€63,222▲ 3.8%€70,400within the sector's middle half▲ 11.4%€71,635within the sector's middle half▲ 1.8%€39,309within the sector's middle half▼ 45.1%€35,650within the sector's middle half▼ 9.3%€37,964within the sector's middle half▲ 6.5%€29,739within the sector's middle half▼ 21.7%
Solvency31.9%-33.4%▲ 1.5pp34.3%within the sector's middle half▲ 0.8pp35.7%within the sector's middle half▲ 1.5pp31.7%within the sector's middle half▼ 4.0pp34.4%within the sector's middle half▲ 2.6pp32.3%within the sector's middle half▼ 2.0pp30.6%within the sector's middle half▼ 1.7pp
Current ratio2.65-2.42▼ 0.233.39above the sector's middle half▲ 0.973.08above the sector's middle half▼ 0.311.65within the sector's middle half▼ 1.421.75within the sector's middle half▲ 0.101.63within the sector's middle half▼ 0.131.55within the sector's middle half▼ 0.08
Return on assets (ROA)1.4%-1.8%▲ 0.4pp0.2%below the sector's middle half▼ 1.6pp1.1%within the sector's middle half▲ 0.9pp1.4%within the sector's middle half▲ 0.4pp5.6%within the sector's middle half▲ 4.2pp4.1%within the sector's middle half▼ 1.5pp-6.6%below the sector's middle half▼ 10.7pp
Staff (FTE)2.43above the sector's middle half▲ 25.0%1.91.8▼ 5.3%2▲ 11.1%
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €10,931, after a profit of €21,135 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €246,825
Fixed assets
€162,753 ▼ 12.2%
Current assets
€84,072 ▼ 14.8%
Equity and liabilities €246,825
Equity
€75,562 ▼ 17.7%
Debt
€171,263 ▼ 10.9%
Debt's share of the balance-sheet total rises from 67.7% to 69.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€11,740▼
2024 · €39,277
Cash flow
€6,433▼
2024 · €29,802
Quick ratio
1.35▼
2024 · 1.46
Debt to equity
2.27▲
2024 · 2.09
ROE
-21.5%▼
2024 · 12.7%
Interest coverage
2.16▼
2024 · 7.97
Debt ≤ 1 year
€54,333▼
2024 · €60,722
Debt > 1 year
€116,930▼
2024 · €131,138
Income taxes
€306▼
2024 · €5,225
Staff costs
€129,571▲
2024 · €122,515
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 |
| full-time | 1 | 1 | 2 |
| part-time | 1 | 1 | - |
| in full-time equivalents | 1.8 | 1.8 | 2 |
| Average over the year, in full-time equivalents | 1.9 | 1.8 | 2 |
| On a permanent contract | 2 | 2 | 2 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,000 | €26,493 | €6,134 | €41,821 | - |
| Depreciation and write-downs of the year | €18,075 | €15,284 | €16,831 | €18,142 | €22,671 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | €362,479 | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | €3,830 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €143,488 | €116,665 | €122,882 | €122,515 | €129,571 | ▲ 5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,106 | €17,350 | €14,304 | €18,075 | €15,284 | €16,831 | €18,142 | €22,671 | ▲ 25.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €6,103 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €666 | €693 | €2,556 | €2,873 | €1,445 | ▼ 49.7% |
| Non-recurring operating charges66A | - | - | - | €900 | - | - | - | - | - |
| Gross operating margin9900 | €124,243 | €144,535 | €182,578 | €174,822 | €138,919 | €165,176 | €164,664 | €142,755 | ▼ 13.3% |
| Operating profit (loss)9901 | €3,218 | €3,603 | €1,505 | €5,590 | €6,276 | €22,907 | €21,135 | -€10,931 | - |
| Financial income75/76B | - | - | - | €2,989 | €2,707 | €1,263 | €678 | €433 | ▼ 36.2% |
| Recurring financial income75 | €4,804 | €4,620 | €4,761 | €2,989 | €2,707 | €1,263 | €678 | €433 | ▼ 36.2% |
| Financial charges65/66B | - | - | - | €5,765 | €4,839 | €4,946 | €4,928 | €5,433 | ▲ 10.2% |
| Recurring financial charges65 | €5,204 | €6,099 | €5,820 | €5,765 | €4,839 | €4,946 | €4,928 | €5,433 | ▲ 10.2% |
| Profit (loss) for the period before taxes9903 | €5,250 | €6,456 | €446 | €2,814 | €4,144 | €19,225 | €16,885 | -€15,932 | - |
| Income taxes67/77 | €1,281 | €1,426 | - | - | €231 | €5,422 | €5,225 | €306 | ▼ 94.1% |
| Profit (loss) for the period9904 | €3,969 | €5,030 | €446 | €2,814 | €3,913 | €13,804 | €11,660 | -€16,238 | - |
| Profit (loss) for the period to be appropriated9905 | €3,969 | €5,030 | €446 | €2,814 | €3,913 | €13,804 | €11,660 | -€16,238 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €278,010 | €280,678 | €275,182 | €267,375 | €271,888 | €244,807 | €284,109 | €246,825 | ▼ 13.1% |
| Fixed assets21/28 | €180,230 | €172,843 | €175,307 | €161,232 | €172,442 | €161,744 | €185,424 | €162,753 | ▼ 12.2% |
| Tangible fixed assets22/27 | €180,230 | €172,843 | €175,307 | €161,232 | €172,442 | €161,744 | €185,424 | €162,753 | ▼ 12.2% |
| Land and buildings22 | - | - | - | €137,296 | €147,322 | €143,096 | €134,948 | €126,800 | ▼ 6.0% |
| Plant, machinery and equipment23 | - | - | - | €3,720 | €8,747 | €8,704 | €6,339 | €3,975 | ▼ 37.3% |
| Furniture and vehicles24 | - | - | - | €20,216 | €16,373 | €9,944 | €44,136 | €31,978 | ▼ 27.5% |
| Current assets29/58 | €97,780 | €107,835 | €99,875 | €106,143 | €99,446 | €83,062 | €98,686 | €84,072 | ▼ 14.8% |
| Stocks and contracts in progress3 | €4,680 | €4,303 | €3,749 | €4,369 | €18,737 | €12,062 | €10,318 | €10,688 | ▲ 3.6% |
| Stocks30/36 | - | - | - | €4,369 | €18,737 | €12,062 | €10,318 | €10,688 | ▲ 3.6% |
| Amounts receivable within one year40/41 | €64,530 | €101,349 | €72,839 | €77,085 | €63,417 | €24,563 | €60,503 | €22,928 | ▼ 62.1% |
| Trade receivables40 | - | - | - | €26,821 | €21,310 | €7,619 | €52,120 | €17,367 | ▼ 66.7% |
| Other amounts receivable41 | - | - | - | €50,264 | €42,107 | €16,944 | €8,384 | €5,561 | ▼ 33.7% |
| Cash at bank and in hand54/58 | €13,494 | €1 | €20,727 | €22,105 | €14,474 | €35,598 | €16,764 | €31,542 | ▲ 88.2% |
| Deferred charges and accrued income490/1 | - | - | - | €2,585 | €2,818 | €10,839 | €11,100 | €18,914 | ▲ 70.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €278,010 | €280,678 | €275,182 | €267,375 | €271,888 | €244,807 | €284,109 | €246,825 | ▼ 13.1% |
| Equity10/15 | €88,777 | €93,807 | €94,252 | €95,467 | €86,291 | €84,109 | €91,800 | €75,562 | ▼ 17.7% |
| Contributions10/11 | €18,700 | €18,700 | €18,700 | €18,700 | €18,700 | €18,700 | €18,700 | €18,700 | = |
| Reserves13 | €70,077 | €75,107 | €75,552 | €76,767 | €67,591 | €65,409 | €73,100 | €56,862 | ▼ 22.2% |
| Non-distributable reserves130/1 | - | - | - | €1,870 | €1,870 | €1,870 | €1,870 | €1,870 | = |
| Reserves not available under the articles1311 | - | - | - | €1,870 | €1,870 | €1,870 | €1,870 | €1,870 | = |
| Distributable reserves133 | - | - | - | €74,897 | €65,721 | €63,539 | €71,230 | €54,992 | ▼ 22.8% |
| Amounts payable17/49 | €189,233 | €186,871 | €180,930 | €171,909 | €185,598 | €160,697 | €192,310 | €171,263 | ▼ 10.9% |
| Amounts payable after more than one year17 | €152,332 | €142,259 | €151,455 | €137,400 | €125,460 | €113,285 | €131,138 | €116,930 | ▼ 10.8% |
| Financial debts170/4 | - | - | - | €137,400 | €125,460 | €113,285 | €131,138 | €116,930 | ▼ 10.8% |
| Amounts payable within one year42/48 | €36,901 | €44,613 | €29,475 | €34,508 | €60,137 | €47,412 | €60,722 | €54,333 | ▼ 10.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €14,055 | €12,078 | €12,175 | €17,383 | €14,208 | ▼ 18.3% |
| Trade debts44 | €10,113 | €7,214 | €2,148 | €4,430 | €34,308 | €18,571 | €21,380 | €20,631 | ▼ 3.5% |
| Suppliers440/4 | - | - | - | €4,430 | €34,308 | €18,571 | €21,380 | €20,631 | ▼ 3.5% |
| Taxes, remuneration and social security45 | - | - | - | €14,423 | €12,151 | €16,666 | €21,959 | €19,494 | ▼ 11.2% |
| Taxes450/3 | - | - | - | €10,447 | €1,555 | €13,241 | €16,197 | €16,813 | ▲ 3.8% |
| Remuneration and social security454/9 | - | - | - | €3,977 | €10,596 | €3,425 | €5,762 | €2,681 | ▼ 53.5% |
| Other amounts payable47/48 | - | - | - | €1,600 | €1,600 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €450 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,969 | €5,030 | €446 | €2,814 | €3,913 | €13,804 | €11,660 | -€16,238 | - |
| + Depreciation and write-downs630 | €16,106 | €17,350 | €14,304 | €18,075 | €15,284 | €16,831 | €18,142 | €22,671 | ▲ 25.0% |
| Operating cash flow (approximation) | €20,075 | €22,380 | €14,750 | €20,889 | €19,197 | €30,635 | €29,802 | €6,433 | ▼ 78.4% |
| Investment in fixed assets (approximation) | - | -€9,963 | -€16,768 | -€4,000 | -€26,493 | -€6,134 | -€41,821 | €0 | - |
| Change in cash | - | -€13,493 | €20,726 | €1,378 | -€7,631 | €21,124 | -€18,834 | €14,778 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 12,322 companies had the same profile as REMOCO has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of REMOCO itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 12,322 companies, not a prediction for REMOCO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 21-07-2026 | 2026-00313471 | |
| 31-12-2024 | micro format | 23-07-2025 | 2025-00298098 | |
| 31-12-2023 | micro format | 28-07-2024 | 2024-00293037 | |
| 31-12-2022 | micro format | 19-07-2023 | 2023-00249477 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20205781 | |
| 31-12-2020 | micro format | 28-07-2021 | 2021-41400419 | |
| 31-12-2019 | micro format | 29-07-2020 | 2020-35600565 | |
| 31-12-2018 | micro format | 29-07-2019 | 2019-39600324 | |
| 31-12-2017 | micro format | 05-06-2018 | 2018-16100031 | |
| 31-12-2016 | micro format | 07-06-2017 | 2017-15500252 |