The annual accounts of RepQuest for financial year 2025 show a net loss of 50% of the equity at the start of that year. The 2025 annual accounts show equity of €25,274 and a net result of -€27,111. Equity has been growing by about 4.4% per year since 2018. Its solvency ranks better than 38% of 224 sector peers (NACE 63, financial year 2025). The company has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.8% (low).
Score breakdownraises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €27,111 (financial year 2025)Liquidity: current ratio 0.24, cash €2,572, halvedlowers riskSector: Computing infrastructure, data processing, hosting and other information service activities (NACE 63)Legal form: public limited companyShow the evidence
Checked score
Score 2025
Checked score
The higher the Checked score (0 to 100), the smaller the chance that the company goes bankrupt within twelve months. That chance sets the band, from Critical to Excellent, and within the band how the company does against its sector peers counts too. With a low score, agree a shorter payment term, an advance or security.
53/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially stronger than 20% of micro companies in computing infrastructure and information services (NACE 63)
Financial strength measures the balance sheet and the results with three figures out of 100 from the latest annual accounts: solvency, liquidity and profitability. It does not directly set the Checked score's band. How the company does against its sector peers on these and on growth does count for its place within the band.
Weak
Solvency57-21
equity 32.4% of total assets
Liquidity18-56
short-term debt 67.6% · cash 3.3%
Profitability50-22
return on assets -34.8%
Bankruptcy probability within 12 months
Bankruptcy probability
It is the chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. At 0.2%, about 2 in 1,000 comparable companies go bankrupt. The higher it is, the shorter the payment term to agree.
0.8%Low
0%0.5%1.5%4%10%≥ 25%
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Sector median 0.1% (2,948 companies, NACE 63, micro)
Last 24 months12-2024: 0.1%01-2025: 0.1%● unchanged vs 12-202402-2025: 0.1%● unchanged vs 01-202503-2025: 0.1%● unchanged vs 02-202504-2025: 0.1%● unchanged vs 03-202505-2025: 0.1%● unchanged vs 04-202506-2025: 0.1%● unchanged vs 05-202507-2025: 0.1%● unchanged vs 06-202508-2025: 0.1%● unchanged vs 07-202509-2025: 0.1%● unchanged vs 08-202510-2025: 0.1%● unchanged vs 09-202511-2025: 0.1%● unchanged vs 10-202512-2025: 0.1%● unchanged vs 11-202501-2026: 0.1%● unchanged vs 12-202502-2026: 0.1%● unchanged vs 01-2026lowest value03-2026: 0.1%● unchanged vs 02-2026lowest value04-2026: 0.1%● unchanged vs 03-202605-2026: 0.1%● unchanged vs 04-202606-2026: 0.1%● unchanged vs 05-202607-2026: 0.1%● unchanged vs 06-202608-2026: 0.2%▲ +0.1 percentage points vs 07-202609-2026: 0.2%● unchanged vs 08-202610-2026: 0.8%▲ +0.6 percentage points vs 09-2026highest value11-2026: 0.8%● unchanged vs 10-2026highest value
Credit of up to €1,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity is insufficient, with a current ratio of 0.24 (1.3 in 2024), below 1. Short-term debt is 67.6% and cash 3.3% of total assets. 67.6% of the assets are financed with debt and provisions.
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 63, micro). It does better than 34% of them on solvency, 9% on liquidity, 27% on profitability and 13% on growth.
The bankruptcy probability was computed on 03-11-2026 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
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 37 days before the deadline. In the sector (NACE 63), the median for financial year 2024 was 9 days before the deadline, and 32% 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 28 June (5 of the last 5 accounts filed within 30 days either side of that date).
The EBIT margin is the share of each euro of revenue left from ordinary operations. The higher it is, the more room the company has to absorb a setback.
The net result is what is left after all costs and taxes. One loss year is not an alarm on its own. After several loss years in a row, it pays to find out why.
Working capital is what is left when the company pays its short-term debts with its short-term assets. Positive means it can pay its bills in the short term.
Net result-€24,575-€7,951-€5,023within the sector's middle half€13,745within the sector's middle half€2,185within the sector's middle half▼ 84.1%-€3,991within the sector's middle half€2,963within the sector's middle half-€27,111within the sector's middle half
Equity€32,888-€40,839▲ 24.2%€35,816within the sector's middle half▼ 12.3%€49,561within the sector's middle half▲ 38.4%€51,746below the sector's middle half▲ 4.4%€47,755below the sector's middle half▼ 7.7%€54,051below the sector's middle half▲ 13.2%€25,274below the sector's middle half▼ 53.2%
Total assets€58,004-€68,361▲ 17.9%€68,937below the sector's middle half▲ 0.8%€81,420below the sector's middle half▲ 18.1%€95,121below the sector's middle half▲ 16.8%€83,635below the sector's middle half▼ 12.1%€101,663below the sector's middle half▲ 21.6%€77,967below the sector's middle half▼ 23.3%
Working capital€48,263-€53,971▲ 11.8%€51,792within the sector's middle half▼ 4.0%€65,561within the sector's middle half▲ 26.6%€54,823within the sector's middle half▼ 16.4%€45,627within the sector's middle half▼ 16.8%€10,627within the sector's middle half▼ 76.7%-€40,109below the sector's middle half
Solvency56.7%-59.7%▲ 3.0pp52.0%within the sector's middle half▼ 7.8pp60.9%within the sector's middle half▲ 8.9pp54.4%within the sector's middle half▼ 6.5pp57.1%within the sector's middle half▲ 2.7pp53.2%within the sector's middle half▼ 3.9pp32.4%within the sector's middle half▼ 20.8pp
Current ratio5.95-4.75▼ 1.204.02above the sector's middle half▼ 0.735.13above the sector's middle half▲ 1.113.40above the sector's middle half▼ 1.743.74above the sector's middle half▲ 0.341.30within the sector's middle half▼ 2.440.24below the sector's middle half▼ 1.06
Return on assets (ROA)-42.4%-11.6%▲ 54.0pp-7.3%below the sector's middle half▼ 18.9pp16.9%above the sector's middle half▲ 24.2pp2.3%within the sector's middle half▼ 14.6pp-4.8%below the sector's middle half▼ 7.1pp2.9%within the sector's middle half▲ 7.7pp-34.8%below the sector's middle half▼ 37.7pp
Staff (FTE)1-1=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=1below the sector's middle half=
abovewithinbelowThe sector band is the middle half of the companies in Computing infrastructure, data processing, hosting and other information service activities (NACE 63). 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 €27,797, after a profit of €4,449 in 2024. It is the lowest result since 2021.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €77,967
83.9%
16.1%
Fixed assets€65,383 ▲ 18.1%
Current assets€12,584 ▼ 72.8%
Equity and liabilities €77,967
32.4%
67.6%
Equity€25,274 ▼ 53.2%
Debt€52,693 ▲ 10.7%
Debt's share of the balance-sheet total rises from 46.8% to 67.6%. Equity is lower and debt is higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€4,239▼
2024 · €15,739
Cash flow
€4,925▼
2024 · €14,253
Debt to equity
2.08▲
2024 · 0.88
ROE
-107.3%▼
2024 · 5.5%
Interest coverage
8.36▼
2024 · 66.13
Debt ≤ 1 year
€52,693▲
2024 · €35,690
Income taxes
€474▼
2024 · €2,915
Staff costs
€80,498▲
2024 · €72,851
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
social balance sheet
Item
31-12-2021
31-12-2022
31-12-2023
31-12-2024
31-12-2025
Employees at the balance-sheet date
1
1
1
1
1
full-time
1
1
1
1
1
part-time
0
0
0
0
0
in full-time equivalents
1
1
1
1
1
Average over the year, in full-time equivalents
1
1
1
1
1
On a permanent contract
1
1
1
1
1
Joined
0
0
-
0
0
Left
0
0
-
0
0
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired
Item
2021
2022
2023
2024
2025
Tangible fixed assets
-
€19,613
-
-
-
Intangible fixed assets
-
-
€8,107
€45,310
€42,073
Depreciation and write-downs of the year
-
€2,201
€4,193
€11,290
€32,036
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
Filed annual accountsAs filed with the NBB · 2025 against 2024 · 45 lines
Balance sheetCode20242025
Assets
Total assets20/58€101,663€77,967▼
Fixed assets21/28€55,346€65,383▲
Intangible fixed assets21€45,870€59,875▲
Tangible fixed assets22/27€9,476€5,508▼
Furniture and vehicles24€9,476€5,508▼
Current assets29/58€46,317€12,584▼
Amounts receivable within one year40/41€13,228€9,357▼
Trade receivables40€11,355€9,357▼
Other amounts receivable41€1,873-
Cash at bank and in hand54/58€32,030€2,572▼
Deferred charges and accrued income490/1€1,059€655▼
Equity and liabilities
Total equity and liabilities10/49€101,663€77,967▼
Equity10/15€54,051€25,274▼
Contributions10/11€62,000€62,000=
Capital10€62,000€62,000=
Issued capital100€62,000€62,000=
Profit (loss) carried forward14-€11,282-€38,393▼
Investment grants15€3,333€1,667▼
Amounts payable17/49€47,612€52,693▲
Amounts payable after more than one year17€1,735-
Financial debts170/4€1,735-
Amounts payable within one year42/48€35,690€52,693▲
Current portion of amounts payable after more than one year42€4,138€27,041▲
Trade debts44€14,020€8,182▼
Suppliers440/4€14,020€8,182▼
Taxes, remuneration and social security45€17,532€17,470▼
Taxes450/3€7,108€5,783▼
Remuneration and social security454/9€10,424€11,687▲
Accrued charges and deferred income492/3€10,187-
Income statementCode20242025
Remuneration, social security and pensions62€72,851€80,498▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€11,290€32,036▲
Other operating charges640/8€231€239▲
Gross operating margin9900€88,821€84,976▼
Operating profit (loss)9901€4,449-€27,797▼
Financial income75/76B€1,667€1,667=
Recurring financial income75€1,667€1,667=
Financial charges65/66B€238€507▲
Recurring financial charges65€238€507▲
Profit (loss) for the period before taxes9903€5,878-€26,637▼
Income taxes67/77€2,915€474▼
Profit (loss) for the period9904€2,963-€27,111▼
Profit (loss) for the period to be appropriated9905€2,963-€27,111▼
Appropriation of the result
Profit (loss) to be appropriated9906-€11,282-€38,393▼
Profit (loss) brought forward from the previous period14P-€14,245-€11,282▲
Social balance sheet
Average headcount (FTE)90871.01.0=
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
The figures are counted, not predicted. They describe the group, not RepQuest.
In July 2024, 3,591 companies had the same profile as RepQuest has now. Two years later, 87.4% were still going and 3.0% had gone bankrupt.
Micro
5 to 10 years old
solvency 30% or more
a loss of 10% of the balance sheet or more
87.4%was still going
9.4%stopped otherwise
3.0%went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of RepQuest itself: 0.8% 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.
The companies in ten equal groups, from the lowest to the highest expected share
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 3,591 companies, not a prediction for RepQuest. 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.
Director · in office according to the act of 18-09-2026 · Private limited company · permanent representative: Maarten De Smedt · also on the board of 3 other companies
Current
Permanent representatives 1
MD
Maarten De Smedt
Permanent representative · in office according to the act of 18-09-2026 · for Reforge
Equity €1.9mProfit of €110,928 in 2025 (profit of €282,953 in 2024)Checked score 94
40%
Capital transactions
Capital transactions
A capital increase usually strengthens the company. With a reduction, it pays to find out why.
Capital over time
24-03-2025Capital stated in 2 acts · €62,000 · 1,000 shares
Mandate history
Mandate history
Each bar is one period in a function, from appointment to resignation or to today. An open left edge means the mandate began before its first mention. An open right edge means the mandate ended without a stated end date.
Resignations: Dominique Delferrière SComm, Ransbeck Management SRL and De Beys SA · Permanent representatives: Dominique Delferrière, Philippe Hamer and Isabelle De Beys · Appointments: Mariska van Schaik, Britt Schuurs and 2 others13 points ▸
General meeting, 31-12-2024
Director resignation, Dominique Delferrière SComm (director), mentioned 2 times in the deed
Director resignation, Ransbeck Management SRL (director)
Director resignation, De Beys SA (director)
Permanent representative, Dominique Delferrière
Permanent representative, Philippe Hamer
Permanent representative, Isabelle De Beys
Director appointment, Mariska van Schaik (class A director)
Director appointment, Britt Schuurs (class A director)
Director appointment, Sophie De Vylder (class B director)
Director appointment, Dominique Delferrière (class B director)
Other provision, 31-12-2024, “absence distinction administrateurs A/B dans statuts” (deed in French)
Resignations: Isabelle De Beys (director and managing director) and Smartlinks Labs (director) · Reappointment: De Beys SA (director) · Permanent representatives: Isabelle De Beys, Dominique Delferrière and Philippe Hamer9 points ▸
Other provision, “mode de décision, à l'unanimité” (deed in French)
Director resignation, Isabelle De Beys (director and managing director)
Director resignation, Smartlinks Labs (director)
Director reappointment, De Beys SA (director)
Permanent representative, Isabelle De Beys
Director appointment, SComm Dominique Delferrière (director and managing director)
Permanent representative, Dominique Delferrière
Director appointment, Ransbeck Management SRL (director)
Each sentence rests on a document from the KBO register, the Belgian Official Gazette or the National Bank. The number after the sentence opens that document.
On 22 December 2016, RepQuest was incorporated.1Today the board has 5 members.2Total assets went from €58,004 in 2018 to €77,967 in 2025 and headcount from 1 to 1 full-time equivalents.3
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région de Bruxelles-Capitale, peuvent être créés,en Belgique ou à l’étranger,par décision de l’organe d’administration”
Establishment unitRepQuest, Ninoofsesteenweg 1078, 1080 Sint-Jans-Molenbeek since 22-12-2016 · unit number 2.260.236.194
Activities
NACEBEL 2025
VAT activities
63910Web portal activitiesmain activity
58290Other software publishing
62100Computer programming
63100Computing infrastructure, data processing, hosting and related activities
73200Market research and public opinion polling
Social security (RSZ) activities
63910Web portal activitiesmain activity
Codes under NACEBEL 2008
VAT activities
63120Computing infrastructure, data processing, hosting and other information service activitiesmain activity
58290Publishing activities
62010Computer programming, consultancy and related activities
63110Computing infrastructure, data processing, hosting and other information service activities
73200Advertising, market research and public relations activities
Social security (RSZ) activities
63120Computing infrastructure, data processing, hosting and other information service activitiesmain activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“La société a pour objet,tant pour son compte propre que pour le compte de tiers ou en participation avec des tiers,de…”
14 activities
La société a pour objet,tant pour son compte propre que pour le compte de tiers ou en participation avec des tiers,de rechercher,collecter,valider,inventorier,organiser,structurer et classifier des données,informations,recommandations,appréciations,évaluations sur des produits,services,activités,entités,organismes ou personnes en vue de les rendre accessibles au profit de ceux qui de manière directe ou indirecte en ont l'usage.
La société a également pour objet de développer,gérer et commercialiser les systèmes qui le permettent.
Elle a également pour objet,toutes opérations immobilières,de gestion et de promotion et toutes études ayant trait à des projets immobiliers tant en Belgique qu'à l'étranger.A cet effet,elle pourra effectuer toutes opérations civiles,commerciales,industrielles ou financières,qui s'y rapportent directement ou indirectement,comme,à titre d'exemple,l'achat,la mise en valeur,le lotissement,l'échange,l'amélioration,la location meublée ou non,la vente,la cession,la gestion,la transformation,la construction et la destruction de biens immobiliers et mobiliers.
La société a également pour objet,tant en Belgique qu'à l'étranger,pour compte propre,pour compte d'autrui ou en participation,toutes activités de services aux entreprises,belges ou étrangères,publiques ou privées,en rapport avec la réalisation d'opérations immobilières en ce compris la réalisation d'études technique,économique et juridique préliminaires nécessaires à la réalisation de programmes de construction,de rénovation ou d'aménagements immobiliers ainsi que d'aménagement du territoire.
Elle peut constituer,développer et gérer un patrimoine mobilier et faire toutes opérations mobilières quelconques y compris celles se rapportant à tous droits mobiliers comme l'acquisition par voie d'inscription ou de cession et la gestion d'actions,de parts sociales,d'obligations convertibles ou non,de prêts de consommation,de prêts ordinaires,de bons de caisse ou autres valeurs mobilières,de quelque forme que ce soit,tant de personnes morales que d'entreprises,belges ou étrangères,existantes ou encore à constituer.
Au cas où la prestation de certains actes serait soumise à des conditions préalables d'accès à la profession,la société subordonnera son action,en ce qui concerne ces prestations,à la réalisation de ces conditions.
Aux fins de réaliser son objet,la société peut émettre des emprunts obligataires,des certificats fonciers et tout autre emprunt analogue.
La société peut agir pour son compte,par commission,comme intermédiaire ou comme représentant.
Elle peut participer ou s'intéresser à toutes sociétés,entreprises,groupements ou organisations quelconques.
Elle peut hypothéquer ses biens immobiliers et mettre en gage ses autres biens,y compris le fonds de commerce,ainsi que donner son aval pour tout emprunt ou ouverture de crédit à condition qu'elle en tire un profit.
La société pourra exercer tout mandat généralement quelconque ainsi que toute fonction autorisée dans toute personne morale belge ou étrangère en ce compris la fonction d'administrateur,de délégué à la gestion journalière,de gérant et de liquidateur.Ce mandat pourra être rémunéré ou gratuit.
Elle peut également-en fonction de ses intérêts propres-se porter caution ou accorder son aval pour tous prêts ou engagements quelconques tant pour elle-même que pour tous tiers-particuliers,y compris les gérants,les associés,le personnel et les préposés de la société.Elle peut se porter caution et donner toute sûreté personnelle ou réelle en faveur de toute personne ou société liée ou non.
Elle peut accomplir toutes opérations généralement quelconques,commerciales,industrielles,financières,mobilières ou immobilières,se rapportant directement ou indirectement à son objet.
La société peut s'intéresser par toutes voies,dans toutes affaires,entreprises ou sociétés ayant un objet identique,analogue,similaire ou connexe,ou qui soit de nature à favoriser le développement de son entreprise.