Renoco
ActiveSummary
Renoco has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€11,447) and a net result of -€10,032. Equity fluctuates too strongly from year to year to read a trend from it. Its solvency ranks better than 9% of 17,149 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 16-07-2019 Normal situation
- Activity
- Buying and selling of own real estate NACE 68110
- Establishment unit
- 2.295.482.135 8310 Brugge, since 16-07-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 17-06-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
Annual accounts 2025
- Gross margin
- -€8,709
- ▼ 27.9%
- Loss
- €10,032
- ▲ 7.1%
- Equity
- -€11,447
- ▼ 709%
- Total assets
- €46,907
- ▼ 17.0%
- Negative equity on 31-12-2025
Turnover not published (micro format)
Score breakdownraises riskCapped at 59: negative equityNegative equity -€11,447lowers riskLiquidity: current ratio 6.27, cash €46,907Size: total assets €46,907Sector: Real estate activities (NACE 68)Show the evidence
Checked score
Score 2025
54
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 27% of micro companies in real estate (NACE 68)
Negative equity caps the score at 59. Every signal that counts is listed under Signals.
Financial strength · tick: 2024
Weak
Solvency
1-21
equity -24.4% of total assets
Liquidity
96-2
short-term debt 15.9% · cash 100.0%
Profitability
0=
return on assets -21.4%
Bankruptcy probability within 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.3%
01-2025: 0.2%▼ -0.1 percentage points vs 12-2024lowest value
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.4%▲ +0.2 percentage points vs 07-2025
09-2025: 0.7%▲ +0.3 percentage points vs 08-2025
10-2025: 0.9%▲ +0.2 percentage points vs 09-2025
11-2025: 0.9%● unchanged vs 10-2025highest value
12-2025: 0.9%● unchanged vs 11-2025highest value
01-2026: 0.8%▼ -0.1 percentage points vs 12-2025
02-2026: 0.8%● unchanged vs 01-2026
03-2026: 0.8%● unchanged vs 02-2026
04-2026: 0.8%● unchanged vs 03-2026
05-2026: 0.8%● unchanged vs 04-2026
06-2026: 0.3%▼ -0.5 percentage points vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.5%▲ +0.2 percentage points vs 07-2026
09-2026: 0.5%● unchanged vs 08-2026
10-2026: 0.5%● unchanged vs 09-2026
11-2026: 0.5%● unchanged vs 10-2026
No credit on open account
Liquidity is ample, with a current ratio of 6.27 (7.53 in 2024), above the usual 1.5. Short-term debt is 15.9% and cash 100% of total assets. However, equity is negative.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 9% of them on solvency, 94% on liquidity, 4% on profitability and 1% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year -€11,447
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-07-2026, 24 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
24 days early
2024
18 days late
2023
19 days early
2022
11 days late
2021
36 days late
2020
401 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 6 accounts on average 71 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 11 August (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 07-07-2026 at the NBB all 6 filings
Equity
-€11,447▼ 709%
2024 · -€1,415
Total assets
€46,907▼ 17.0%
2024 · €56,502
Net result
-€10,032▼ 7.1%
2024 · -€9,368
Working capital
€39,428▼ 19.2%
2024 · €48,810
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€9,509
▼ 7.9%
2025
20202025
Net result
-€10,032
▼ 7.1%
2025
lowest quarter of the sector
20202025
Equity
-€11,447
▼ 709%
2025
lowest quarter of the sector
20202025
Total assets
€46,907
▼ 17.0%
2025
lowest quarter of the sector
20202025
Debt
€58,354
▲ 0.8%
2025
20202025
Working capital
€39,428
▼ 19.2%
2025
middle half of the sector
20202025
Solvency
-24.4%
▼ 21.9pp
2025
lowest quarter of the sector
20202025
Current ratio
6.27
▼ 1.25
2025
highest quarter of the sector
20202025
Return on assets (ROA)
-21.4%
▼ 4.8pp
2025
lowest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€9,233-€38,208▲ 314%-€30,917€19,122-€8,816-€9,509▼ 7.9%
Net result€484within the sector's middle half-€25,795within the sector's middle half▲ 53×-€36,768below the sector's middle half€13,443within the sector's middle half-€9,368within the sector's middle half-€10,032below the sector's middle half▼ 7.1%
Equity€5,484below the sector's middle half-€31,278within the sector's middle half▲ 470%-€5,490below the sector's middle half€7,953below the sector's middle half-€1,415below the sector's middle half-€11,447below the sector's middle half▼ 709%
Total assets€207,014within the sector's middle half-€267,118within the sector's middle half▲ 29.0%€284,997within the sector's middle half▲ 6.7%€72,932below the sector's middle half▼ 74.4%€56,502below the sector's middle half▼ 22.5%€46,907below the sector's middle half▼ 17.0%
Debt€201,530-€235,840▲ 17.0%€290,487▲ 23.2%€64,979▼ 77.6%€57,917▼ 10.9%€58,354▲ 0.8%
Working capital€55,990within the sector's middle half-€80,281within the sector's middle half▲ 43.4%€44,570within the sector's middle half▼ 44.5%€58,653within the sector's middle half▲ 31.6%€48,810within the sector's middle half▼ 16.8%€39,428within the sector's middle half▼ 19.2%
Solvency2.6%below the sector's middle half-11.7%within the sector's middle half▲ 9.1pp-1.9%below the sector's middle half▼ 13.6pp10.9%within the sector's middle half▲ 12.8pp-2.5%below the sector's middle half▼ 13.4pp-24.4%below the sector's middle half▼ 21.9pp
Current ratio1.38within the sector's middle half-1.44within the sector's middle half▲ 0.061.19within the sector's middle half▼ 0.255.40above the sector's middle half▲ 4.217.53above the sector's middle half▲ 2.136.27above the sector's middle half▼ 1.25
Return on assets (ROA)0.2%within the sector's middle half-9.7%above the sector's middle half▲ 9.4pp-12.9%below the sector's middle half▼ 22.6pp18.4%above the sector's middle half▲ 31.3pp-16.6%below the sector's middle half▼ 35.0pp-21.4%below the sector's middle half▼ 4.8pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 €9,509, larger than the loss of €8,816 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
EBITDA
-€9,297▼
2024 · -€8,089
Cash flow
-€9,819▼
2024 · -€8,640
Interest coverage
-17.79▼
2024 · -14.66
Debt ≤ 1 year
€7,479=
2024 · €7,479
Debt > 1 year
€50,000=
2024 · €50,000
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €728 | €728 | €728 | €728 | €213 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,700 | €728 | €728 | €728 | €728 | €213 | ▼ 70.8% |
| Other operating charges640/8 | €4,542 | €539 | €287 | €151 | €1,279 | €587 | ▼ 54.1% |
| Gross operating margin9900 | €16,474 | €39,474 | -€29,902 | €20,000 | -€6,810 | -€8,709 | ▼ 27.9% |
| Operating profit (loss)9901 | €9,233 | €38,208 | -€30,917 | €19,122 | -€8,816 | -€9,509 | ▼ 7.9% |
| Financial income75/76B | €314 | €11 | €62 | - | - | - | - |
| Recurring financial income75 | €314 | €11 | €62 | - | - | - | - |
| Financial charges65/66B | €9,063 | €2,957 | €5,913 | €5,648 | €552 | €523 | ▼ 5.3% |
| Recurring financial charges65 | €9,063 | €2,957 | €5,913 | €5,648 | €552 | €523 | ▼ 5.3% |
| Profit (loss) for the period before taxes9903 | €484 | €35,262 | -€36,768 | €13,474 | -€9,368 | -€10,032 | ▼ 7.1% |
| Income taxes67/77 | - | €9,467 | - | €32 | €0 | - | - |
| Profit (loss) for the period9904 | €484 | €25,795 | -€36,768 | €13,443 | -€9,368 | -€10,032 | ▼ 7.1% |
| Profit (loss) for the period to be appropriated9905 | €484 | €25,795 | -€36,768 | €13,443 | -€9,368 | -€10,032 | ▼ 7.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €207,014 | €267,118 | €284,997 | €72,932 | €56,502 | €46,907 | ▼ 17.0% |
| Fixed assets21/28 | €3,123 | €2,396 | €1,668 | €940 | €213 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €3,123 | €2,396 | €1,668 | €940 | €213 | €0 | ▼ 100% |
| Furniture and vehicles24 | €3,123 | €2,396 | €1,668 | €940 | €213 | €0 | ▼ 100% |
| Current assets29/58 | €203,891 | €264,723 | €283,329 | €71,991 | €56,289 | €46,907 | ▼ 16.7% |
| Stocks and contracts in progress3 | €152,500 | €208,285 | €275,063 | - | - | - | - |
| Stocks30/36 | €152,500 | €208,285 | €275,063 | - | - | - | - |
| Amounts receivable within one year40/41 | €6,497 | €4,519 | €6,834 | €3,965 | €2,210 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | €762 | €0 | - | - |
| Other amounts receivable41 | €6,497 | €4,519 | €6,834 | €3,202 | €2,210 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €44,894 | €51,908 | €1,369 | €68,027 | €54,079 | €46,907 | ▼ 13.3% |
| Deferred charges and accrued income490/1 | - | €11 | €62 | - | - | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €207,014 | €267,118 | €284,997 | €72,932 | €56,502 | €46,907 | ▼ 17.0% |
| Equity10/15 | €5,484 | €31,278 | -€5,490 | €7,953 | -€1,415 | -€11,447 | ▼ 709% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | - | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Distributable reserves133 | - | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | €484 | €1,278 | -€35,490 | -€22,047 | -€31,415 | -€41,447 | ▼ 31.9% |
| Amounts payable17/49 | €201,530 | €235,840 | €290,487 | €64,979 | €57,917 | €58,354 | ▲ 0.8% |
| Amounts payable after more than one year17 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Financial debts170/4 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Amounts payable within one year42/48 | €147,901 | €184,442 | €238,759 | €13,338 | €7,479 | €7,479 | = |
| Financial debts43 | €106,392 | €137,987 | €176,423 | - | - | - | - |
| Credit institutions430/8 | €106,392 | €137,987 | €176,423 | - | - | - | - |
| Trade debts44 | €109 | €24,128 | €28,147 | €476 | €0 | - | - |
| Suppliers440/4 | €109 | €24,128 | €28,147 | €476 | €0 | - | - |
| Taxes, remuneration and social security45 | - | €9,467 | €9,467 | €83 | €0 | - | - |
| Taxes450/3 | - | €9,467 | €9,467 | €83 | €0 | - | - |
| Other amounts payable47/48 | €41,400 | €12,860 | €24,721 | €12,779 | €7,479 | €7,479 | = |
| Accrued charges and deferred income492/3 | €3,629 | €1,398 | €1,728 | €1,641 | €438 | €875 | ▲ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €484 | €25,795 | -€36,768 | €13,443 | -€9,368 | -€10,032 | ▼ 7.1% |
| + Depreciation and write-downs630 | €2,700 | €728 | €728 | €728 | €728 | €213 | ▼ 70.8% |
| Operating cash flow (approximation) | €3,183 | €26,522 | -€36,040 | €14,170 | -€8,640 | -€9,819 | ▼ 13.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €7,013 | -€50,538 | €66,657 | -€13,947 | -€7,172 | ▲ 48.6% |
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, 6,008 companies had the same profile as Renoco has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
83.0%
was still going
8.4%
stopped otherwise
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Renoco itself is lower: 0.5% within 12 months. It rests on far more data about Renoco than the profile alone.
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 6,008 companies, not a prediction for Renoco. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-07-2026 | 2026-00260653 | |
| 31-12-2024 | micro format | 18-08-2025 | 2025-00382953 | |
| 31-12-2023 | micro format | 12-07-2024 | 2024-00246276 | |
| 31-12-2022 | micro format | 11-08-2023 | 2023-00328984 | |
| 31-12-2021 | micro format | 05-09-2022 | 2022-20427706 | |
| 31-12-2020 | micro format | 05-09-2022 | 2022-20427574 |
Board & ownership
Directors
Directors
2 directors, last change in 2024
Goegeber Philippe
Current
Director · listed in the 2025 annual accounts, filed on 07-07-2026
Van Braeckevelt Dries
Current
Director · listed in the 2025 annual accounts, filed on 07-07-2026
Owners and capital
Owners
Mandate history
3 people, 2 in office
- Board
- mandate already running before its first mention
| Name | Functions and periods |
|---|---|
| Goegeber Philippe |
|
| Van Braeckevelt Dries |
|
| Goegebeur Philippe |
|
Network & group
Renoco shares no director with another company.
Companies at the same address
1 other companyConnections & network
2 current directorsThe network starts from the directors of Renoco. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
07-07
micro format · 24 days before the deadline
2025
18-08
micro format · 18 days late
2024
12-07
micro format · 19 days before the deadline
21-05
Gazette deed
Registered office moved from Beernem to AssebroekNew seat: Vossensteert 26, 8310 Assebroek (Brugge) · Previous seat: Hoornstraat 18a, 8730 Beernem · Resignation: Goegebeur Philippe (director)5 points ▸
Gazette deed
Registered office moved from Beernem to Assebroek
New seat: Vossensteert 26, 8310 Assebroek (Brugge) · Previous seat: Hoornstraat 18a, 8730 Beernem · Resignation: Goegebeur Philippe (director)5 points ▸
- Board meeting, 04-03-2024
- General meeting, 04-03-2024
- Registered-office move, Vossensteert 26, 8310 Assebroek (Brugge)
- Director resignation, Goegebeur Philippe (director)
- Director discharge, Goegebeur Philippe (director)
2023
31-12
Financial
Back to profitnet €13,443
The net result is €13,443, after one loss-making year.
31-12
Financial
Liquidity more than quadruplescurrent ratio 5.40
The current ratio rises from 1.19 to 5.40. Short-term debt falls from €238,759 to €13,338.
11-08
micro format · 11 days late
2022
31-12
Financial
Weakest financial yearnet -€36,768
The net result drops to -€36,768, the lowest from 2020 to 2025. It recovers the following year.
05-09
micro format · 36 days late
05-09
micro format · 401 days late
20-04
Gazette deed
Registered-office moveBoard meeting of 18-03-20222 points ▸
Gazette deed
Registered-office move
Board meeting of 18-03-20222 points ▸
- Board meeting, 18-03-2022
- Registered-office move, Hoornstraat18a, 8730Beernem
2021
31-12
Financial
Highest result from 2020 to 2025net €25,795 ▲5,233%
The operating result of €38,208 and the net result of €25,795 are both a record.
2019
18-07
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Renoco in Dutch
Enterprise number
0730.762.069
Legal form
Private limited company
Status
Active, normale toestand
Founded
16-07-2019
Entity type
Legal entity
Registered office and establishments
Registered office
Vossensteert 26, 8310 Brugge, Belgium
1 former office
- Hoornstraat 18a, 8730 Beernem until 04-03-2024 · act of 21-05-2024
Establishment unit
RenoCo, Vossensteert 26, 8310 Brugge since 16-07-2019 · unit number 2.295.482.135
E-mail
renoco.brugge@gmail.com
Activities
NACEBEL 202568110
Buying and selling of own real estate main activity
Codes under NACEBEL 2008
68100
Real estate activities main activity
Invoicing and payment
VAT number
BE 0730.762.069
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Environmental permits
1 application in Flanders since 2019 · 1 granted
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden
Source: Omgevingsloket Vlaanderen.
Sites & property
Location
Buildings and parcels at the address
Ground area
324 m²
Building footprint
91 m²
Building volume
545 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31002A0211/00L005 | Flanders | 324 m² | 1 · 91 m² | 10.1 m · 2 |