RETHMANI
ActiveSummary
The computed 12-month bankruptcy probability of RETHMANI is 2.2% (moderate). The 2025 annual accounts show negative equity (-€32,400) and a net result of -€77,995. Equity is shrinking by ~10.8% per year across the filed fiscal years. Its solvency ranks better than 17% of 18537 sector peers (fiscal year 2025). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-4
Solvency8▼-52
Growth32=
Track record100
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.33 against 1.04 in 2024; short-term debt: 116.8% and cash: 4.7% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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
-16.8%
Return on assets
-40.4%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 -€32,400
neutral · A punctual record breaks
This company filed 6 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
5 d late
2024
18 d early
2023
3 d early
2022
3 d early
2021
9 d early
2020
30 d early
2019
12 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 10 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€32,400
2024 · €45,595
Total assets
€193,012▲ 49.9%
2024 · €128,734
Net result
-€77,995▼ 426%
2024 · -€14,817
Working capital
-€150,598
2024 · €3,336
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€1,177▲ 0.8%€8,710▲ 640%-€28,340-€13,983▲ 50.7%-€76,087▼ 444%
Net result-€2,872▼ 7.6%€4,650-€29,360-€14,817▲ 49.5%-€77,995▼ 426%
Equity€85,122▼ 3.3%€89,772▲ 5.5%€60,412▼ 32.7%€45,595▼ 24.5%-€32,400
Total assets€221,752▼ 15.1%€177,227▼ 20.1%€135,638▼ 23.5%€128,734▼ 5.1%€193,012▲ 49.9%
Debt€136,630▼ 21.1%€87,455▼ 36.0%€75,226▼ 14.0%€83,139▲ 10.5%€225,412▲ 171%
Working capital€6,636▼ 67.8%€14,327▲ 116%€6,611▼ 53.9%€3,336▼ 49.5%-€150,598
Staff (FTE)1
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 €76,087 in 2025 against €13,983 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €193,012
Fixed assets
€118,198 ▲ 180%
Current assets
€74,814 ▼ 13.5%
Key figures and ratios
EBITDA
-€55,817▼
2024 · -€2,204
Cash flow
-€57,725▼
2024 · -€3,038
Solvency
-16.8%▼
2024 · 35.4%
Current ratio
0.33▼
2024 · 1.04
Quick ratio
0.10▼
2024 · 0.38
Debt to equity
-6.96▼
2024 · 1.82
ROA
-40.4%▼
2024 · -11.5%
Interest coverage
-29.00▼
2024 · -2.10
Debt ≤ 1 year
€225,412▲
2024 · €83,139
Income taxes
€194▲
2024 · €161
Staff costs
€23,708▲
2024 · €5,481
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,943 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 85% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a loss of 10% of the balance sheet or more
5.5%
went bankrupt
8.1%
stopped otherwise
85%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,943 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €11,807 | - | €5,856 | €5,481 | €23,708 | ▲ 333% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,780 | €11,779 | €11,780 | €11,779 | €20,270 | ▲ 72.1% |
| Other operating charges640/8 | €126 | - | - | €258 | €560 | ▲ 117% |
| Gross operating margin9900 | €24,890 | €20,489 | -€10,704 | €3,535 | -€31,549 | ▼ 992% |
| Operating profit (loss)9901 | €1,177 | €8,710 | -€28,340 | -€13,983 | -€76,087 | ▼ 444% |
| Financial income75/76B | - | - | €209 | €378 | €211 | ▼ 44.2% |
| Recurring financial income75 | - | - | €209 | €378 | €211 | ▼ 44.2% |
| Financial charges65/66B | €4,049 | €4,060 | €1,089 | €1,051 | €1,925 | ▲ 83.2% |
| Recurring financial charges65 | €4,049 | €4,060 | €1,089 | €1,051 | €1,925 | ▲ 83.2% |
| Profit (loss) for the period before taxes9903 | -€2,872 | €4,650 | -€29,220 | -€14,656 | -€77,801 | ▼ 431% |
| Income taxes67/77 | - | - | €140 | €161 | €194 | ▲ 20.5% |
| Profit (loss) for the period9904 | -€2,872 | €4,650 | -€29,360 | -€14,817 | -€77,995 | ▼ 426% |
| Profit (loss) for the period to be appropriated9905 | -€2,872 | €4,650 | -€29,360 | -€14,817 | -€77,995 | ▼ 426% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €221,752 | €177,227 | €135,638 | €128,734 | €193,012 | ▲ 49.9% |
| Fixed assets21/28 | €87,224 | €75,445 | €53,801 | €42,259 | €118,198 | ▲ 180% |
| Tangible fixed assets22/27 | €46,136 | €34,357 | €22,577 | €10,798 | €101,596 | ▲ 841% |
| Plant, machinery and equipment23 | €46,136 | €34,357 | €22,577 | €10,798 | €9,321 | ▼ 13.7% |
| Furniture and vehicles24 | - | - | - | - | €3,115 | - |
| Other tangible fixed assets26 | - | - | - | - | €89,160 | - |
| Financial fixed assets28 | €41,088 | €41,088 | €31,224 | €31,461 | €16,602 | ▼ 47.2% |
| Current assets29/58 | €134,528 | €101,782 | €81,837 | €86,475 | €74,814 | ▼ 13.5% |
| Stocks and contracts in progress3 | €64,733 | €59,378 | €55,918 | €54,779 | €52,267 | ▼ 4.6% |
| Stocks30/36 | €64,733 | €59,378 | €55,918 | €54,779 | €52,267 | ▼ 4.6% |
| Amounts receivable within one year40/41 | €1,062 | €5,253 | €13,123 | €14,753 | €12,807 | ▼ 13.2% |
| Trade receivables40 | - | €4,537 | €8,498 | €14,753 | €12,669 | ▼ 14.1% |
| Other amounts receivable41 | €1,062 | €716 | €4,625 | - | €138 | - |
| Cash at bank and in hand54/58 | €68,597 | €36,987 | €11,940 | €16,239 | €9,036 | ▼ 44.4% |
| Deferred charges and accrued income490/1 | €136 | €164 | €856 | €704 | €704 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €221,752 | €177,227 | €135,638 | €128,734 | €193,012 | ▲ 49.9% |
| Equity10/15 | €85,122 | €89,772 | €60,412 | €45,595 | -€32,400 | ▼ 171% |
| Contributions10/11 | €111,000 | €111,000 | €111,000 | €111,000 | €111,000 | = |
| Capital10 | €111,000 | €111,000 | €111,000 | - | - | - |
| Issued capital100 | €111,000 | €111,000 | €111,000 | - | - | - |
| Profit (loss) carried forward14 | -€25,878 | -€21,228 | -€50,588 | -€65,405 | -€143,400 | ▼ 119% |
| Amounts payable17/49 | €136,630 | €87,455 | €75,226 | €83,139 | €225,412 | ▲ 171% |
| Amounts payable after more than one year17 | €8,738 | - | - | - | - | - |
| Financial debts170/4 | €8,738 | - | - | - | - | - |
| Amounts payable within one year42/48 | €127,892 | €87,455 | €75,226 | €83,139 | €225,412 | ▲ 171% |
| Current portion of amounts payable after more than one year42 | €22,892 | €8,737 | - | - | - | - |
| Trade debts44 | €40,638 | €36,379 | €40,457 | €42,059 | €61,755 | ▲ 46.8% |
| Suppliers440/4 | €40,638 | €36,379 | €40,457 | €42,059 | €61,755 | ▲ 46.8% |
| Taxes, remuneration and social security45 | €8,436 | €8,419 | €7,804 | €16,670 | €27,291 | ▲ 63.7% |
| Taxes450/3 | €7,689 | €8,419 | €7,804 | €11,832 | €12,820 | ▲ 8.4% |
| Remuneration and social security454/9 | €747 | - | - | €4,838 | €14,471 | ▲ 199% |
| Other amounts payable47/48 | €55,926 | €33,920 | €26,965 | €24,410 | €136,366 | ▲ 459% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,872 | €4,650 | -€29,360 | -€14,817 | -€77,995 | ▼ 426% |
| + Depreciation and write-downs630 | €11,780 | €11,779 | €11,780 | €11,779 | €20,270 | ▲ 72.1% |
| Operating cash flow (approximation) | €8,908 | €16,429 | -€17,580 | -€3,038 | -€57,725 | ▼ 1,800% |
| Investment in fixed assets (approximation) | - | €0 | €9,864 | -€237 | -€96,209 | ▼ 40,495% |
| Change in cash | - | -€31,610 | -€25,047 | €4,299 | -€7,203 | ▼ 268% |
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
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
31-12
Financial
Weakest financial yearnet -€77,995
Net result drops to -€77,995, the lowest in the series.
13-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €4,650
Net result €4,650 after 2 loss-making years.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
19-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €6,815 ▲39.5%
Operating result €11,270, net result €6,815, both a record.
22-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 83 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Brussel · 1 establishment unit since 2016
Ground area
82 m²
Building footprint
81 m²
Volume, LiDAR
1,074 m³
Parcel 21802B1239/00A000, Brussels · tallest building 17.1 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Grasmarkt 14, 1000 Brussel
since 20162.247.953.224
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21802B1239/00A000 | Brussels | 81 m² | 1 · 81 m² | 17.1 m · 5 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 1,733 companies in sector 47742 we hold annual accounts for 1,139. 903 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
Founded02-12-2015
Fiscal year end31-12
Activities, NACEBEL 2025
47742Retail sale of prescription glasses, lenses and sunglasses
Contact
E-mail
ikrame.eb2014@hotmail.comBrussel
E-invoicing
Reachable via Peppol
Peppol ID
0208:0643799094
Also
9925:BE0643799094
Registered
11-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.