RES
Annual accounts 2025
full format, filed on 14-07-2026, 17 days before the deadlineThe turnover shown is an estimate from the gross margin.
Turnover ≈ €380,000. Estimated: probably between €270,000 and €610,000.
Balance sheet
balance sheet total €4.6m on 31-12-2025in €m
in €m
Position in the sector
-2.0%
Higher than 10% of 1,168 companies in 2025.
4.46
Higher than 81% of 1,125 companies in 2025.
-32.5%
Lower than 95% of 1,157 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half · Staff: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
4.6m | 6.3m | 6.3m | 6.2m | 6.4m | 6.4m | 6.8m | 12.5m | 8.7m | 8.6m | 4.7m | 5.0m | 5.5m | 5.4m | 4.9m | 5.0m | 3.9m | 3.0m | 281,100 | 222,938 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2,702 | 5,403 | 8,405 | 11,407 | 900 | |
21/28 |
3.8m | 5.5m | 5.5m | 5.5m | 5.5m | 5.5m | 5.5m | 5.4m | 1.0m | 1.0m | 1.1m | 1.1m | 1.1m | 1.1m | 1.0m | 1.0m | 642,843 | 60,845 | 71,407 | 75,900 | |
21 |
- | - | - | - | - | - | - | - | - | - | 40,741 | 43,981 | 47,222 | 42,963 | - | 15,000 | 30,000 | 45,000 | 60,000 | 75,000 | |
22/27 |
706 | 6,718 | - | 2,200 | 4,400 | 19,886 | 35,368 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
24 |
706 | 6,718 | - | 2,200 | 4,400 | 19,886 | 35,368 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
28 |
3.8m | 5.5m | 5.5m | 5.5m | 5.5m | 5.5m | 5.5m | 5.4m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 1.0m | 607,440 | 7,440 | - | - | |
29/58 |
773,535 | 820,338 | 832,016 | 773,403 | 909,664 | 897,974 | 1.3m | 7.0m | 7.7m | 7.6m | 3.7m | 3.9m | 4.4m | 4.4m | 3.9m | 4.0m | 3.3m | 2.9m | 209,693 | 147,038 | |
29 |
636,216 | 795,439 | 771,830 | 721,778 | 690,616 | 701,736 | 571,472 | 5.9m | 6.4m | 6.2m | 2.8m | 3.0m | 3.4m | 3.4m | 2.5m | 2.4m | 2.2m | 1.8m | - | - | |
291 |
636,216 | 795,439 | 771,830 | 721,778 | 690,616 | 701,736 | 571,472 | 5.9m | 6.4m | 6.2m | 2.8m | 3.0m | 3.4m | 3.4m | 2.5m | 2.4m | 2.2m | 1.8m | - | - | |
40/41 |
132,750 | 24,378 | 54,577 | 49,014 | 157,113 | 164,311 | 676,205 | 1.1m | 1.1m | 1.0m | 775,304 | 840,608 | 997,260 | 920,188 | 1.1m | 1.3m | 994,216 | 1.0m | 183,535 | 146,873 | |
40 |
0 | 8,878 | 19,594 | 22,704 | 20,491 | 25,150 | 24,600 | 49,877 | 381,234 | - | 2,308 | 4,770 | 266,186 | 251,193 | 308,556 | 288,081 | 342,882 | 348,875 | 3,762 | 101,830 | |
41 |
132,750 | 15,500 | 34,983 | 26,310 | 136,623 | 139,161 | 651,605 | 1.0m | 674,719 | 1.0m | 772,996 | 835,838 | 731,074 | 668,995 | 823,400 | 1.1m | 651,334 | 656,766 | 179,772 | 45,043 | |
54/58 |
1,035 | 42 | 714 | 95 | 24 | - | 438 | 3,384 | 213,008 | 334,798 | 37,622 | 26,206 | 20,313 | 53,543 | 207,693 | 202,063 | 80,159 | 48,867 | 218 | 165 | |
490/1 |
3,534 | 478 | 4,895 | 2,516 | 61,911 | 31,927 | 30,102 | 20,652 | 35,189 | 37,264 | 44,629 | 42,694 | 33,895 | 28,282 | 44,144 | 43,947 | 23,333 | 7,274 | 25,940 | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
4.6m | 6.3m | 6.3m | 6.2m | 6.4m | 6.4m | 6.8m | 12.5m | 8.7m | 8.6m | 4.7m | 5.0m | 5.5m | 5.4m | 4.9m | 5.0m | 3.9m | 3.0m | 281,100 | 222,938 | |
10/15 |
-92,579 | 1.4m | 1.3m | 1.2m | 1.1m | 1.0m | 1.0m | 978,142 | 783,592 | 651,447 | 583,244 | 524,057 | 483,511 | 443,974 | 424,796 | 360,707 | 114,209 | 32,164 | 6,673 | 6,667 | |
10/11 |
880,149 | 880,130 | 880,109 | 880,103 | 857,603 | 860,054 | 864,779 | 863,350 | 847,043 | 839,423 | 796,923 | 784,423 | 761,308 | 723,279 | 705,532 | 648,032 | 410,230 | 372,450 | 312,634 | 27,247 | |
10 |
- | 0 | 880,109 | 880,103 | 857,603 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
- | 0 | 880,109 | 880,103 | 857,603 | 860,054 | 864,779 | 863,350 | 847,043 | 839,423 | 796,923 | 784,423 | 761,308 | 723,279 | 705,532 | 648,032 | 410,230 | 372,450 | 312,634 | 27,247 | |
11 |
880,149 | 880,130 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
1109/19 |
880,149 | 880,130 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
13 |
5,740 | 5,740 | 5,740 | 5,740 | 5,740 | 5,740 | 5,740 | 5,740 | - | - | - | - | - | - | - | - | - | - | - | - | |
130/1 |
5,740 | 5,740 | 5,740 | 5,740 | 5,740 | 5,740 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | 0 | 5,740 | 5,740 | 5,740 | 5,740 | 5,740 | 5,740 | - | - | - | - | - | - | - | - | - | - | - | - | |
1311 |
5,740 | 5,740 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
-978,467 | 501,185 | 411,750 | 319,388 | 269,071 | 134,386 | 131,006 | 109,052 | -63,451 | -187,976 | -213,679 | -260,366 | -277,797 | -279,305 | -280,735 | -287,325 | -296,021 | -340,287 | -305,961 | -20,580 | |
17/49 |
4.6m | 4.9m | 5.0m | 5.0m | 5.3m | 5.4m | 5.8m | 11.5m | 7.9m | 8.0m | 4.1m | 4.5m | 5.0m | 5.0m | 4.5m | 4.6m | 3.8m | 2.9m | 274,427 | 216,271 | |
17 |
4.5m | 4.5m | 4.5m | 4.5m | 4.5m | 4.6m | 4.8m | 10.1m | 6.7m | 6.6m | 3.2m | 3.5m | 483,888 | 661,390 | 618,543 | 625,363 | 600,000 | - | - | 91,580 | |
170/4 |
- | - | - | - | - | - | 4.2m | 9.3m | 6.7m | 6.6m | 3.2m | 3.5m | 483,888 | 661,390 | 618,543 | 625,363 | 600,000 | - | - | - | |
178/9 |
4.5m | 4.5m | 4.5m | 4.5m | 4.5m | 4.6m | 630,967 | 720,967 | - | - | - | - | - | - | - | - | - | - | - | 91,580 | |
42/48 |
173,314 | 410,442 | 439,483 | 488,512 | 704,062 | 746,134 | 977,477 | 1.4m | 1.0m | 845,367 | 930,340 | 935,480 | 4.4m | 4.2m | 3.7m | 3.8m | 3.0m | 2.9m | 212,134 | 100,689 | |
42 |
135,000 | 135,000 | 135,000 | 162,682 | 308,595 | 338,595 | 132,797 | 279,496 | - | 20,352 | - | 28,888 | 57,503 | 7,153 | 19,480 | 6,501 | - | - | - | - | |
43 |
- | - | - | 14,375 | 14,836 | 14,906 | 381,465 | 525,032 | 674,072 | 632,747 | 641,779 | 724,088 | 4.2m | 4.0m | 3.4m | 3.4m | 2.8m | 2.5m | 16 | - | |
430/8 |
- | - | - | 14,375 | 14,836 | 14,906 | 119,987 | 8,312 | 14,456 | 14,693 | 14,813 | 22,434 | 102,928 | 14,592 | 79,586 | 14,056 | - | - | 16 | - | |
439 |
- | - | - | - | - | - | 261,478 | 516,720 | 659,616 | 618,053 | 626,966 | 701,654 | 4.1m | 4.0m | 3.3m | 3.4m | 2.8m | 2.5m | - | - | |
44 |
11,994 | 18,685 | 30,901 | 23,959 | 40,098 | 66,946 | 65,734 | 12,786 | 29,863 | 52,223 | 55,868 | 85,508 | 40,103 | 55,840 | 47,276 | 71,473 | 97,574 | 280,252 | 11,502 | 4,829 | |
440/4 |
11,994 | 18,685 | 30,901 | 23,959 | 40,098 | 66,946 | 65,734 | 12,786 | 29,863 | 52,223 | 55,868 | 85,508 | 40,103 | 55,840 | 47,276 | 71,473 | 97,574 | 280,252 | 11,502 | 4,829 | |
46 |
20,122 | 1,596 | 1,596 | 1,596 | - | - | - | - | - | - | - | - | 7,400 | 3,000 | - | - | - | - | - | - | |
45 |
707 | 37,964 | 31,169 | 26,498 | 72,662 | 19,895 | 11,700 | 71,508 | 81,393 | 133,912 | 180,078 | 62,238 | 93,852 | 69,188 | 79,137 | 137,696 | 100,731 | 119,602 | 179,953 | 32,073 | |
450/3 |
707 | 37,964 | 31,169 | 26,498 | 72,662 | 19,895 | 11,700 | 71,508 | 81,393 | 133,912 | 180,078 | 62,238 | 93,852 | 69,188 | 78,631 | 137,696 | 100,731 | 119,602 | 179,953 | 32,073 | |
454/9 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 507 | - | - | - | - | - | |
47/48 |
5,490 | 217,197 | 240,818 | 259,402 | 267,872 | 305,793 | 385,781 | 524,451 | 221,927 | 6,134 | 52,615 | 34,758 | 15,391 | 5,490 | 124,192 | 228,128 | 42,524 | 36,660 | 20,663 | 63,787 | |
492/3 |
3,632 | 2,048 | 32,302 | 7,891 | 20,751 | 4,808 | 6,758 | 8,890 | 257,743 | 557,746 | 14,152 | 23,393 | 144,522 | 143,957 | 209,823 | 166,809 | 175,179 | 9,682 | 62,294 | 24,003 | |
| Income statement | |||||||||||||||||||||
76A |
101,238 | 0 | 500 | 37,390 | - | 3,000 | - | - | - | - | - | - | 7,500 | - | - | - | - | - | - | - | |
9900 |
220,710 | 138,401 | 128,575 | 84,488 | 320,959 | 280,637 | 314,771 | 252,842 | 220,736 | 139,471 | 82,498 | 48,990 | 20,347 | 33,969 | 48,925 | 44,226 | 126,636 | -4,820 | -51,114 | 52,868 | |
630 |
6,012 | 5,305 | 2,200 | 2,200 | 15,486 | 15,482 | 28,982 | - | - | 3,241 | 3,241 | 3,241 | 3,241 | 10,741 | 17,702 | 17,702 | 18,002 | 18,002 | 18,002 | 35,300 | |
631/4 |
- | - | - | - | 108,598 | 250,000 | 250,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
640/8 |
2,062 | 3,021 | 1,542 | 1,719 | 936 | 1,068 | 1,215 | 868 | 24,282 | 43,917 | 9,214 | 17,438 | 13,401 | 10,601 | 8,536 | 1,482 | 348 | - | - | 2,320 | |
66A |
1.7m | 3,100 | - | - | - | - | - | - | - | 37,500 | - | - | - | - | - | - | - | - | - | - | |
9901 |
-1.5m | 126,975 | 124,833 | 80,569 | 195,939 | 14,087 | 34,574 | 251,974 | 196,455 | 54,813 | 70,044 | 28,311 | 3,705 | 12,627 | 22,688 | 25,043 | 108,286 | -22,821 | -69,115 | 15,248 | |
75/76B |
1,474 | 3 | - | - | 699 | 122 | 274 | 486 | 218 | 0 | 1,608 | 3,685 | 739 | 289 | - | - | 446 | 2 | - | - | |
75 |
1,474 | 3 | - | - | 699 | 0 | 274 | 486 | 218 | 0 | 1,608 | 3,685 | 739 | 289 | - | - | 446 | 2 | - | - | |
76B |
- | - | - | - | - | 122 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
65/66B |
66 | 187 | 2,218 | 3,847 | 3,739 | 2,634 | 3,216 | 2,905 | 9,004 | 17,204 | 4,614 | 7,433 | 8,718 | 9,050 | 12,750 | 11,833 | 15,509 | 1,168 | 4,532 | 3,253 | |
65 |
66 | 187 | 2,218 | 3,847 | 3,739 | 2,634 | 3,216 | 2,905 | 9,004 | 17,204 | 4,614 | 7,433 | 8,718 | 9,050 | 12,750 | 11,833 | 15,509 | 1,168 | 4,532 | 3,253 | |
9903 |
-1.5m | 126,791 | 122,615 | 76,722 | 192,899 | 11,575 | 31,633 | 249,555 | 187,668 | 37,609 | 67,038 | 24,562 | 3,226 | 3,867 | 9,938 | 13,211 | 93,223 | -23,987 | -73,647 | 11,995 | |
67/77 |
309 | 37,356 | 30,254 | 26,405 | 58,214 | 8,195 | 9,678 | 71,313 | 63,143 | 11,905 | 20,352 | 7,131 | 1,718 | 2,437 | 3,348 | 4,514 | 48,957 | 10,338 | 211,734 | - | |
9904 |
-1.5m | 89,436 | 92,362 | 50,317 | 134,685 | 3,380 | 21,954 | 178,243 | 124,525 | 25,704 | 46,687 | 17,431 | 1,508 | 1,430 | 6,589 | 8,696 | 44,266 | -34,326 | -285,381 | 11,995 | |
9905 |
-1.5m | 89,436 | 92,362 | 50,317 | 134,685 | 3,380 | 21,954 | 178,243 | 124,525 | 25,704 | 46,687 | 17,431 | 1,508 | 1,430 | 6,589 | 8,696 | 44,266 | -34,326 | -285,381 | 11,995 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
-978,467 | 501,185 | 411,750 | 319,388 | 269,071 | 134,386 | 131,006 | 114,792 | -63,451 | -187,976 | -213,679 | -260,366 | -277,797 | -279,305 | -280,735 | -287,325 | -296,021 | -340,287 | -305,961 | -20,580 | |
14P |
501,185 | 411,750 | 319,388 | 269,071 | 134,386 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | 5,740 | - | - | - | - | - | - | - | - | - | - | - | - | |
6920 |
- | - | - | - | - | - | - | 5,740 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||||||||
The accounts for 10 older financial years (1996-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 18 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.
Source: Annual accounts 2025 at the NBB, filed on 14-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 14-07-2026 | 2026-00289777 | |
| 31-12-2024 | abbreviated format | 18-07-2025 | 2025-00284623 | |
| 31-12-2023 | abbreviated format | 16-07-2024 | 2024-00256307 | |
| 31-12-2022 | abbreviated format | 31-07-2023 | 2023-00293451 | |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20118132 | |
| 31-12-2020 | abbreviated format | 20-07-2021 | 2021-39300071 | |
| 31-12-2019 | abbreviated format | 17-07-2020 | 2020-30800264 | |
| 31-12-2018 | abbreviated format | 18-07-2019 | 2019-33900287 | |
| 31-12-2017 | abbreviated format | 12-07-2018 | 2018-31500227 | |
| 31-12-2016 | abbreviated format | 20-07-2017 | 2017-33100140 | |
| 31-12-2015 | abbreviated format | 04-07-2016 | 2016-26000096 | |
| 31-12-2014 | abbreviated format | 07-07-2015 | 2015-26500203 | |
| 31-12-2013 | abbreviated format | 08-07-2014 | 2014-27400437 | |
| 31-12-2012 | abbreviated format | 16-07-2013 | 2013-30200432 | |
| 31-12-2011 | abbreviated format | 31-08-2012 | 2012-54700320 | |
| 31-12-2010 | abbreviated format | 12-07-2011 | 2011-27700599 | |
| 31-12-2009 | abbreviated format | 23-07-2010 | 2010-32600485 | |
| 31-12-2008 | abbreviated format | 20-07-2009 | 2009-43100267 | |
| 31-12-2007 | abbreviated format | 01-07-2008 | 2008-33700125 | |
| 31-12-2006 | abbreviated format | 05-09-2007 | 2007-71500104 | |
| 31-12-2005 | abbreviated format | 13-07-2006 | 2006-46302206 | |
| 31-12-2004 | abbreviated format | 25-07-2005 | 2005-55003295 | |
| 31-12-2003 | abbreviated format | 15-07-2004 | 2004-46403415 | |
| 31-12-2002 | abbreviated format | 10-07-2003 | 2003-43100873 | |
| 31-12-2001 | abbreviated format | 04-12-2002 | 2002-75003085 | |
| 31-12-2000 | abbreviated format | 14-12-2001 | 2001-75703471 | |
| 31-12-1999 | abbreviated format | 25-07-2000 | 2000-46401432 | |
| 31-12-1998 | abbreviated format | 01-09-1999 | 1999-43700899 | |
| 31-12-1997 | abbreviated format | 23-07-1998 | 1998-35104642 | |
| 31-12-1996 | abbreviated format | 19-06-1997 | 1997-17303056 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -1.5m | 132,280 | 127,033 | 82,769 | 211,425 | 29,569 | 63,556 | - | - | 58,053 | 73,285 | 31,552 | 6,946 | 23,368 | 40,390 | 42,745 | 126,288 | -4,820 | -51,114 | 50,548 | ||
| -1.5m | 94,741 | 94,562 | 52,517 | 150,171 | 18,862 | 50,936 | - | - | 28,944 | 49,927 | 20,672 | 4,749 | 12,171 | 24,291 | 26,398 | 62,267 | -16,324 | -267,379 | 47,295 | ||
| -1.7m | 12,024 | -215 | 0 | 0 | -860 | 89,350 | 4.4m | - | -37,500 | 0 | 2,000 | 7,500 | 53,703 | 0 | 400,000 | 600,000 | 7,440 | 13,508 | - | ||
| 993 | -672 | 619 | 71 | - | - | -2,946 | -209,624 | -121,790 | 297,176 | 11,416 | 5,894 | -33,230 | -154,150 | 5,629 | 121,905 | 31,292 | 48,649 | 53 | - | ||
| 600,221 | 409,897 | 392,533 | 284,891 | 205,602 | 151,839 | 300,740 | 5.6m | 6.7m | 6.8m | 2.7m | 3.0m | 57,258 | 198,919 | 245,722 | 127,737 | 246,545 | -18,999 | -2,440 | 46,350 | ||
| -2.0% | 22.0% | 20.6% | 19.3% | 17.7% | 15.7% | 14.8% | 7.8% | 9.0% | 7.6% | 12.4% | 10.5% | 8.8% | 8.2% | 8.6% | 7.2% | 2.9% | 1.1% | 2.4% | 3.0% | ||
| 4.46 | 2.00 | 1.89 | 1.58 | 1.29 | 1.20 | 1.31 | 4.97 | 7.66 | 9.01 | 3.93 | 4.20 | 1.01 | 1.05 | 1.07 | 1.03 | 1.08 | 0.99 | 0.99 | 1.46 | ||
| - | 3.54 | 3.86 | 4.18 | 4.64 | 5.39 | 5.77 | 11.75 | 10.14 | 12.24 | 7.07 | 8.50 | 10.34 | 11.18 | 10.57 | 12.85 | 33.49 | 91.07 | 41.13 | 32.44 | ||
| - | 6.4% | 7.1% | 4.2% | 11.9% | 0.3% | 2.2% | 18.2% | 15.9% | 3.9% | 8.0% | 3.3% | 0.3% | 0.3% | 1.6% | 2.4% | 38.8% | -106.7% | - | 179.9% | ||
| -32.5% | 1.4% | 1.5% | 0.8% | 2.1% | 0.1% | 0.3% | 1.4% | 1.4% | 0.3% | 1.0% | 0.4% | 0.0% | 0.0% | 0.1% | 0.2% | 1.1% | -1.2% | -101.5% | 5.4% | ||
| -22344.53 | over 100 | 57.29 | 21.52 | 56.55 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBIT margin: not included in this filing.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Overdue debts
tax and social security| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Overdue tax debts | - | - | €336 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €12,024 | - | - | - |
| €6,012 | €5,305 | €2,200 | €2,200 | €15,486 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on RES
The operating result for 2025 is a loss of €1.5m, after a profit of €126,975 in 2024. It is the lowest result since 2006.
Equity is negative. Debt (€4.6m) exceeds the balance-sheet total (€4.6m).