RETHIOS
ActiveSummary
RETHIOS has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €801k and a net result of €-50k. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 95% of 11389 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability11=
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity ample (current ratio 64.83 against 22.93 in 2024; short-term debt: 0.2% and cash: 2.6% of total assets), and 0.2% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
99.8%
Return on assets
-6.2%
Age of the figures
9 mo
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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-50k
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 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
41 d early
2023
19 d late
2022
5 d early
2021
9 d late
2020
31 d late
2019
21 d late
← 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€801k▼ 5.8%
2024 · €851k
Total assets
€803k▼ 6.5%
2024 · €858k
Net result
€-50k▲ 2.5%
2024 · €-51k
Working capital
€109k▼ 33.4%
2024 · €163k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€216k▼ 57.6%€152k▼ 29.7%€119k▼ 21.5%€-62k€-53k▲ 14.0%
Net result€159k▼ 55.5%€102k▼ 36.0%€85k▼ 16.7%€-51k€-50k▲ 2.5%
Equity€715k▲ 28.6%€817k▲ 14.2%€902k▲ 10.4%€851k▼ 5.7%€801k▼ 5.8%
Total assets€909k▲ 24.2%€875k▼ 3.8%€922k▲ 5.4%€858k▼ 6.9%€803k▼ 6.5%
Debt€194k▲ 10.4%€57k▼ 70.3%€20k▼ 65.6%€7k▼ 62.3%€2k▼ 77.1%
Working capital€709k▲ 31.2%€763k▲ 7.7%€451k▼ 41.0%€163k▼ 63.7%€109k▼ 33.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €53k in 2025 against €62k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €803k
Fixed assets
€692k ▲ 0.7%
Current assets
€111k ▼ 35.3%
Equity and liabilities €803k
Equity
€801k ▼ 5.8%
Debt
€2k ▼ 77.1%
Debt's share of the balance-sheet total falls from 0.9% to 0.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-53k▲
2024 · €-60k
Cash flow
€-49k=
2024 · €-49k
Current ratio
64.83▲
2024 · 22.93
Debt to equity
0.00▼
2024 · 0.01
ROE
-6.2%▼
2024 · -6.0%
ROA
-6.2%▼
2024 · -5.9%
Interest coverage
-532.12▲
2024 · -647.24
Debt ≤ 1 year
€2k▼
2024 · €7k
Income taxes
€2k▲
2024 · €-5k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €130 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €2k | €2k | €2k | €341 | ▼ 78.5% |
| Other operating charges640/8 | €1k | €971 | €1k | €1k | €2k | ▲ 8.1% |
| Gross operating margin9900 | €220k | €155k | €123k | €-59k | €-51k | ▲ 12.8% |
| Operating profit (loss)9901 | €216k | €152k | €119k | €-62k | €-53k | ▲ 14.0% |
| Financial income75/76B | €953 | - | €1k | €6k | €5k | ▼ 16.4% |
| Recurring financial income75 | €953 | - | €1k | €6k | €5k | ▼ 16.4% |
| Financial charges65/66B | €167 | €163 | €164 | €93 | €99 | ▲ 6.7% |
| Recurring financial charges65 | €167 | €163 | €164 | €93 | €99 | ▲ 6.7% |
| Profit (loss) for the period before taxes9903 | €217k | €152k | €120k | €-56k | €-48k | ▲ 13.7% |
| Income taxes67/77 | €58k | €50k | €35k | €-5k | €2k | ▲ 138% |
| Profit (loss) for the period9904 | €159k | €102k | €85k | €-51k | €-50k | ▲ 2.5% |
| Profit (loss) for the period to be appropriated9905 | €159k | €102k | €85k | €-51k | €-50k | ▲ 2.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €909k | €875k | €922k | €858k | €803k | ▼ 6.5% |
| Fixed assets21/28 | €6k | €54k | €451k | €687k | €692k | ▲ 0.7% |
| Tangible fixed assets22/27 | €6k | €4k | €2k | €663 | €322 | ▼ 51.4% |
| Furniture and vehicles24 | €6k | €4k | €2k | €663 | €322 | ▼ 51.4% |
| Financial fixed assets28 | €80 | €50k | €449k | €687k | €692k | ▲ 0.7% |
| Current assets29/58 | €903k | €821k | €470k | €171k | €111k | ▼ 35.3% |
| Amounts receivable within one year40/41 | €58k | €46k | €19k | €72k | €90k | ▲ 25.1% |
| Trade receivables40 | €51k | €26k | €3k | - | - | - |
| Other amounts receivable41 | €7k | €21k | €16k | €72k | €90k | ▲ 25.1% |
| Current investments50/53 | - | - | €100k | - | - | - |
| Cash at bank and in hand54/58 | €845k | €774k | €352k | €99k | €21k | ▼ 79.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €909k | €875k | €922k | €858k | €803k | ▼ 6.5% |
| Equity10/15 | €715k | €817k | €902k | €851k | €801k | ▼ 5.8% |
| Contributions10/11 | €13k | €13k | €13k | €13k | €13k | = |
| Reserves13 | €277k | €377k | €461k | €461k | €461k | = |
| Non-distributable reserves130/1 | €277k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €277k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €375k | €459k | €459k | €459k | = |
| Profit (loss) carried forward14 | €426k | €428k | €428k | €377k | €328k | ▼ 13.2% |
| Amounts payable17/49 | €194k | €57k | €20k | €7k | €2k | ▼ 77.1% |
| Amounts payable within one year42/48 | €194k | €57k | €20k | €7k | €2k | ▼ 77.1% |
| Trade debts44 | €4k | €2k | €3k | €451 | €1k | ▲ 180% |
| Suppliers440/4 | €4k | €2k | €3k | €451 | €1k | ▲ 180% |
| Taxes, remuneration and social security45 | €190k | €56k | €17k | €7k | €441 | ▼ 93.7% |
| Taxes450/3 | €185k | €56k | €17k | €7k | €441 | ▼ 93.7% |
| Remuneration and social security454/9 | €5k | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €159k | €102k | €85k | €-51k | €-50k | ▲ 2.5% |
| + Depreciation and write-downs630 | €3k | €2k | €2k | €2k | €341 | ▼ 78.5% |
| Operating cash flow (approximation) | €162k | €104k | €87k | €-49k | €-49k | = |
| Investment in fixed assets (approximation) | - | €-50k | €-400k | €-238k | €-5k | ▲ 97.8% |
| Change in cash | - | €-71k | €-423k | €-253k | €-78k | ▲ 69.0% |
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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity triplescurrent ratio 64.83
Current ratio from 22.93 to 64.83; short-term debt falls from €7k to €2k.
20-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-51k
Net result drops to €-51k, the lowest in the series; recovery starts the following year.
19-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 19 days late
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 14.30
Current ratio from 4.66 to 14.30; short-term debt falls from €194k to €57k.
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €357k ▲646%
Operating result €509k, net result €357k, both a record.
31-12
Financial
Equity above €500kEq €556k ▲180%
3 profitable years in a row build equity to €556k.
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 21 days late
Show earlier events
2019
07-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 7 days late
2018
10-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 10 days late
2017
13-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 13 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Waterloo · 1 establishment unit since 2014
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Avenue Le Nôtre (André) 61410 Waterloo1 establishment unit
RETHIOS
since 20142.235.609.280
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Of 4,415 companies in sector 46180 we hold annual accounts for 1,885. 1,000 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-09-2014
Fiscal year end31-12
Activities, NACEBEL 2025
46180Agents specialised in the wholesale of other particular products
70200Business and other management consultancy
71121Engineering and related technical consultancy, excluding land surveyors
73300Public relations and communication consultancy
Scores and ratios are computed by Checked and are not a credit decision.