RES
ActiveSummary
RES has been active since 1995 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-93k) and a net result of €-1.48M. Equity is growing by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 10% of 928 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-71
Solvency23▼-24
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 4.46 against 2.0 in 2024; short-term debt: 3.8% and cash: 0% of total assets), but equity is negative.
Credit check for your own amount and term
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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% 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
-2%
Return on assets
-32.5%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-93k
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
13 d early
2023
15 d early
2022
on the day
2021
31 d early
2020
11 d early
2019
14 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-1.48M
2024 · €89k
2018: €178khighest in 8 years
2019: €22k▼ -87.7% vs 2018
2020: €3k▼ -84.6% vs 2019
2021: €135k▲ +3885% vs 2020
2022: €50k▼ -62.6% vs 2021
2023: €92k▲ +83.6% vs 2022
2024: €89k▼ -3.2% vs 2023
2025: €-1.48M▼ -1754% vs 2024lowest in 8 years
2018 → 2025
Working capital
€600k▲ 46.4%
2024 · €410k
2018: €5.61Mhighest in 8 years
2019: €301k▼ -94.6% vs 2018
2020: €152k▼ -49.5% vs 2019lowest in 8 years
2021: €206k▲ +35.4% vs 2020
2022: €285k▲ +38.6% vs 2021
2023: €393k▲ +37.8% vs 2022
2024: €410k▲ +4.4% vs 2023
2025: €600k▲ +46.4% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.13M-€1.21M▲ 6.4%€1.30M▲ 7.7%€1.39M▲ 6.9%€-93k
2021: €1.13M
2022: €1.21M▲ +6.4% vs 2021
2023: €1.30M▲ +7.7% vs 2022
2024: €1.39M▲ +6.9% vs 2023highest in 5 years
2025: €-93k▼ -107% vs 2024lowest in 5 years
Operating result€196k-€81k▼ 58.9%€125k▲ 54.9%€127k▲ 1.7%€-1.48M
2021: €196khighest in 5 years
2022: €81k▼ -58.9% vs 2021
2023: €125k▲ +54.9% vs 2022
2024: €127k▲ +1.7% vs 2023
2025: €-1.48M▼ -1266% vs 2024lowest in 5 years
Net result€135k-€50k▼ 62.6%€92k▲ 83.6%€89k▼ 3.2%€-1.48M
2021: €135khighest in 5 years
2022: €50k▼ -62.6% vs 2021
2023: €92k▲ +83.6% vs 2022
2024: €89k▼ -3.2% vs 2023
2025: €-1.48M▼ -1754% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €1.48M after €127k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.55M
Fixed assets
€3.78M ▼ 31.0%
Current assets
€774k ▼ 5.7%
Key figures and ratios
EBITDA
€-1.47M▼
2024 · €132k
Cash flow
€-1.47M▼
2024 · €95k
Solvency
-2.0%▼
2024 · 22.0%
Current ratio
4.46▲
2024 · 2.00
Debt to equity
-50.15▼
2024 · 3.54
ROA
-32.5%▼
2024 · 1.4%
Interest coverage
-22344.53▼
2024 · 709.09
Debt
€4.64M▼
2024 · €4.91M
Debt ≤ 1 year
€173k▼
2024 · €410k
Debt > 1 year
€4.47M▼
2024 · €4.50M
Income taxes
€309▼
2024 · €37k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€6.30M€4.55M▼
Fixed assets21/28€5.48M€3.78M▼
Tangible fixed assets22/27€7k€706▼
Furniture and vehicles24€7k€706▼
Financial fixed assets28€5.47M€3.78M▼
Current assets29/58€820k€774k▼
Amounts receivable after more than one year29€795k€636k▼
Other amounts receivable291€795k€636k▼
Amounts receivable within one year40/41€24k€133k▲
Trade receivables40€9k€0▼
Other amounts receivable41€16k€133k▲
Cash at bank and in hand54/58€42€1k▲
Deferred charges and accrued income490/1€478€4k▲
Equity and liabilities
Total equity and liabilities10/49€6.30M€4.55M▼
Equity10/15€1.39M€-93k▼
Contributions10/11€880k€880k=
Capital10€0-
Issued capital100€0-
Outside capital11€880k€880k=
Other1109/19€880k€880k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€0-
Reserves not available under the articles1311€6k€6k=
Profit (loss) carried forward14€501k€-978k▼
Amounts payable17/49€4.91M€4.64M▼
Amounts payable after more than one year17€4.50M€4.47M▼
Other amounts payable178/9€4.50M€4.47M▼
Amounts payable within one year42/48€410k€173k▼
Current portion of amounts payable after more than one year42€135k€135k=
Trade debts44€19k€12k▼
Suppliers440/4€19k€12k▼
Advances received on contracts in progress46€2k€20k▲
Taxes, remuneration and social security45€38k€707▼
Taxes450/3€38k€707▼
Other amounts payable47/48€217k€5k▼
Accrued charges and deferred income492/3€2k€4k▲
Income statement
Code20242025
Non-recurring operating income76A€0€101k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€6k▲
Other operating charges640/8€3k€2k▼
Non-recurring operating charges66A€3k€1.69M▲
Gross operating margin9900€138k€221k▲
Operating profit (loss)9901€127k€-1.48M▼
Financial income75/76B€3€1k▲
Recurring financial income75€3€1k▲
Financial charges65/66B€187€66▼
Recurring financial charges65€187€66▼
Profit (loss) for the period before taxes9903€127k€-1.48M▼
Income taxes67/77€37k€309▼
Profit (loss) for the period9904€89k€-1.48M▼
Profit (loss) for the period to be appropriated9905€89k€-1.48M▼
Appropriation of the result
Profit (loss) to be appropriated9906€501k€-978k▼
Profit (loss) brought forward from the previous period14P€412k€501k▲
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €37k | €500 | €0 | €101k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15k | €2k | €2k | €5k | €6k | ▲ 13.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €109k | - | - | - | - | - |
| Other operating charges640/8 | €936 | €2k | €2k | €3k | €2k | ▼ 31.7% |
| Non-recurring operating charges66A | - | - | - | €3k | €1.69M | ▲ 54,525% |
| Gross operating margin9900 | €321k | €84k | €129k | €138k | €221k | ▲ 59.5% |
| Operating profit (loss)9901 | €196k | €81k | €125k | €127k | €-1.48M | ▼ 1,266% |
| Financial income75/76B | €699 | - | - | €3 | €1k | ▲ 50,378% |
| Recurring financial income75 | €699 | - | - | €3 | €1k | ▲ 50,378% |
| Financial charges65/66B | €4k | €4k | €2k | €187 | €66 | ▼ 64.6% |
| Recurring financial charges65 | €4k | €4k | €2k | €187 | €66 | ▼ 64.6% |
| Profit (loss) for the period before taxes9903 | €193k | €77k | €123k | €127k | €-1.48M | ▼ 1,267% |
| Income taxes67/77 | €58k | €26k | €30k | €37k | €309 | ▼ 99.2% |
| Profit (loss) for the period9904 | €135k | €50k | €92k | €89k | €-1.48M | ▼ 1,754% |
| Profit (loss) for the period to be appropriated9905 | €135k | €50k | €92k | €89k | €-1.48M | ▼ 1,754% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6.38M | €6.25M | €6.30M | €6.30M | €4.55M | ▼ 27.7% |
| Fixed assets21/28 | €5.47M | €5.47M | €5.47M | €5.48M | €3.78M | ▼ 31.0% |
| Tangible fixed assets22/27 | €4k | €2k | - | €7k | €706 | ▼ 89.5% |
| Furniture and vehicles24 | €4k | €2k | - | €7k | €706 | ▼ 89.5% |
| Financial fixed assets28 | €5.47M | €5.47M | €5.47M | €5.47M | €3.78M | ▼ 31.0% |
| Current assets29/58 | €910k | €773k | €832k | €820k | €774k | ▼ 5.7% |
| Amounts receivable after more than one year29 | €691k | €722k | €772k | €795k | €636k | ▼ 20.0% |
| Other amounts receivable291 | €691k | €722k | €772k | €795k | €636k | ▼ 20.0% |
| Amounts receivable within one year40/41 | €157k | €49k | €55k | €24k | €133k | ▲ 445% |
| Trade receivables40 | €20k | €23k | €20k | €9k | €0 | ▼ 100% |
| Other amounts receivable41 | €137k | €26k | €35k | €16k | €133k | ▲ 756% |
| Cash at bank and in hand54/58 | €24 | €95 | €714 | €42 | €1k | ▲ 2,344% |
| Deferred charges and accrued income490/1 | €62k | €3k | €5k | €478 | €4k | ▲ 639% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6.38M | €6.25M | €6.30M | €6.30M | €4.55M | ▼ 27.7% |
| Equity10/15 | €1.13M | €1.21M | €1.30M | €1.39M | €-93k | ▼ 107% |
| Contributions10/11 | €858k | €880k | €880k | €880k | €880k | = |
| Capital10 | €858k | €880k | €880k | €0 | - | - |
| Issued capital100 | €858k | €880k | €880k | €0 | - | - |
| Outside capital11 | - | - | - | €880k | €880k | = |
| Other1109/19 | - | - | - | €880k | €880k | = |
| Reserves13 | €6k | €6k | €6k | €6k | €6k | = |
| Non-distributable reserves130/1 | €6k | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | €6k | €6k | €6k | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €6k | €6k | = |
| Profit (loss) carried forward14 | €269k | €319k | €412k | €501k | €-978k | ▼ 295% |
| Amounts payable17/49 | €5.25M | €5.04M | €5.00M | €4.91M | €4.64M | ▼ 5.4% |
| Amounts payable after more than one year17 | €4.53M | €4.54M | €4.53M | €4.50M | €4.47M | ▼ 0.7% |
| Other amounts payable178/9 | €4.53M | €4.54M | €4.53M | €4.50M | €4.47M | ▼ 0.7% |
| Amounts payable within one year42/48 | €704k | €489k | €439k | €410k | €173k | ▼ 57.8% |
| Current portion of amounts payable after more than one year42 | €309k | €163k | €135k | €135k | €135k | = |
| Financial debts43 | €15k | €14k | - | - | - | - |
| Credit institutions430/8 | €15k | €14k | - | - | - | - |
| Trade debts44 | €40k | €24k | €31k | €19k | €12k | ▼ 35.8% |
| Suppliers440/4 | €40k | €24k | €31k | €19k | €12k | ▼ 35.8% |
| Advances received on contracts in progress46 | - | €2k | €2k | €2k | €20k | ▲ 1,161% |
| Taxes, remuneration and social security45 | €73k | €26k | €31k | €38k | €707 | ▼ 98.1% |
| Taxes450/3 | €73k | €26k | €31k | €38k | €707 | ▼ 98.1% |
| Other amounts payable47/48 | €268k | €259k | €241k | €217k | €5k | ▼ 97.5% |
| Accrued charges and deferred income492/3 | €21k | €8k | €32k | €2k | €4k | ▲ 77.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €135k | €50k | €92k | €89k | €-1.48M | ▼ 1,754% |
| + Depreciation and write-downs630 | €15k | €2k | €2k | €5k | €6k | ▲ 13.3% |
| Operating cash flow (approximation) | €150k | €53k | €95k | €95k | €-1.47M | ▼ 1,655% |
| Investment in fixed assets (approximation) | - | €0 | €215 | €-12k | €1.69M | ▲ 14,184% |
| Change in cash | - | €71 | €619 | €-672 | €993 | ▲ 248% |
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
27-08
State Gazette act
Resignation: Walther Smets (director)Appointments: Mauranne Smets (director) and Walther Junior Smets (director) · Mandate compensation6 facts ▸
State Gazette act
Resignation: Walther Smets (director)
Appointments: Mauranne Smets (director) and Walther Junior Smets (director) · Mandate compensation6 facts ▸
- General meeting, 26-06-2026
- Director resignation, Walther Smets (director)
- Director appointment, Mauranne Smets (director)
- Mandate compensation, Mauranne Smets
- Director appointment, Walther Junior Smets (director)
- Mandate compensation, Walther Junior Smets
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-1.48M
Net result drops to €-1.48M, the lowest in the series.
31-12
Financial
Liquidity doublescurrent ratio 4.46
Current ratio from 2.00 to 4.46; short-term debt falls from €410k to €173k.
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
20-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €1MEq €1.00M ▲2.4%
2 profitable years in a row build equity to €1.00M.
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
20-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Mauranne Smets
CurrentDirector · since 01-07-2026
Walther Junior Smets
CurrentDirector · since 01-07-2026
01-07-2026
Mauranne Smets: Appointed as Director
01-07-2026
Walther Junior Smets: Appointed as Director
01-07-2026
Walther Smets: Resigned as Director
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Keerbergen · 1 establishment unit since 2000
Ground area
1,343 m²
Building footprint
132 m²
Volume, LiDAR
684 m³
Parcel 24048B0596/00D002, Flanders · tallest building 13.0 m, ±2 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
RES CVBA
since 20002.074.400.527
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24048B0596/00D002 | Flanders | 1,343 m² | 1 · 132 m² | 13.0 m · 2 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.
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Of 11,218 companies in sector 82100 we hold annual accounts for 3,511. 1,319 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCooperative company
Founded13-12-1995
Fiscal year end31-12
Activities, NACEBEL 2025
82100Office administrative and support services
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.