REUL FRERES

Active

Private limited companyfounded 198541 yrs activeRue des Bas-Fourneaux 5, 4837 Baelen, BelgiumKBO/BCE: BE 0427.155.237

REUL FRERES has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €1.93M and a net result of €239k. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 48% of 3549 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).

Watch Print / PDF

Checked score

Score 2024

67 / 100

Healthy

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability75▲+2

Solvency64▲+7

Growth78=

Track record100

Bankruptcy probability, 12 months

0.9% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €120k at 30 days acceptable

Liquidity ample (current ratio 1.58 against 1.43 in 2023; short-term debt: 14.4% and cash: 1.7% of total assets), but 61.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

38.6%

Return on assets

4.8%

Age of the figures

21 mo

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-03-2025, 150 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

150 d early

2023

114 d early

2022

137 d early

2021

163 d early

2020

134 d early

2019

63 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€239k▲ 24.8%

2023 · €192k

2018: €168k 2019: €423k 2020: €267k 2021: €256k 2022: €165k 2023: €192k

2018 → 2024

Working capital

€418k▲ 4.9%

2023 · €398k

2018: €170k 2019: €-7k 2020: €36k 2021: €100k 2022: €251k 2023: €398k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€1.20M-€1.29M▲ 7.4%€1.44M▲ 11.9%€1.73M▲ 20.0%€1.93M▲ 11.7%

Operating result€293k-€355k▲ 21.4%€286k▼ 19.5%€338k▲ 18.0%€371k▲ 9.9%

Net result€267k-€256k▼ 3.9%€165k▼ 35.8%€192k▲ 16.5%€239k▲ 24.8%

Result per fiscal year

Operating resultNet result

After the dip in 2022 the operating result has climbed two years in a row; 2024 is 10% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €5.00M

77.2%

22.8%

Fixed assets €3.86M▼ 3.2%

Current assets €1.14M▼ 14.7%

Equity and liabilities €5.00M

38.6%

61.4%

Equity €1.93M▲ 11.7%

Debt €3.07M▼ 14.7%

The debt ratio falls from 67.5% to 61.4%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€665k▲

2023 · €625k

Cash flow

€534k▲

2023 · €479k

Solvency

38.6%▲

2023 · 32.5%

Current ratio

1.58▲

2023 · 1.43

Quick ratio

1.08▲

2023 · 1.04

Debt / equity

1.59▼

2023 · 2.08

ROE

12.4%▲

2023 · 11.1%

ROA

4.8%▲

2023 · 3.6%

Interest coverage

8.03▲

2023 · 7.32

Debt

€3.07M▼

2023 · €3.59M

Debt ≤ 1 year

€722k▼

2023 · €937k

Debt > 1 year

€2.34M▼

2023 · €2.66M

Income taxes

€85k▲

2023 · €75k

Staff costs

€1.06M▼

2023 · €1.16M

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€5.32M€5.00M▼

Fixed assets21/28€3.99M€3.86M▼

Intangible fixed assets21€82k€58k▼

Tangible fixed assets22/27€3.88M€3.77M▼

Land and buildings22€3.34M€3.29M▼

Plant, machinery and equipment23€401k€351k▼

Furniture and vehicles24€139k€135k▼

Financial fixed assets28€25k€25k=

Current assets29/58€1.34M€1.14M▼

Stocks and contracts in progress3€361k€358k▼

Stocks30/36€361k€358k▼

Amounts receivable within one year40/41€919k€675k▼

Trade receivables40€828k€549k▼

Other amounts receivable41€90k€126k▲

Cash at bank and in hand54/58€32k€83k▲

Deferred charges and accrued income490/1€23k€24k▲

Equity and liabilities

Total equity and liabilities10/49€5.32M€5.00M▼

Equity10/15€1.73M€1.93M▲

Contributions10/11€489k€489k=

Reserves13€49k€49k=

Non-distributable reserves130/1€49k€49k=

Reserves not available under the articles1311€49k€49k=

Profit (loss) carried forward14€893k€1.13M▲

Investment grants15€297k€261k▼

Amounts payable17/49€3.59M€3.07M▼

Amounts payable after more than one year17€2.66M€2.34M▼

Financial debts170/4€2.45M€2.18M▼

Other amounts payable178/9€207k€161k▼

Amounts payable within one year42/48€937k€722k▼

Current portion of amounts payable after more than one year42€301k€289k▼

Financial debts43€193k€104k▼

Credit institutions430/8€187k€102k▼

Other loans439€6k€2k▼

Trade debts44€188k€136k▼

Suppliers440/4€188k€136k▼

Advances received on contracts in progress46€0€7k▲

Taxes, remuneration and social security45€199k€130k▼

Taxes450/3€32k€40k▲

Remuneration and social security454/9€167k€90k▼

Other amounts payable47/48€55k€57k▲

Accrued charges and deferred income492/3-€217

Income statement Code20232024

Non-recurring operating income76A€663€0▼

Remuneration, social security and pensions62€1.16M€1.06M▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€287k€294k▲

Other operating charges640/8€15k€16k▲

Non-recurring operating charges66A€788€0▼

Gross operating margin9900€1.80M€1.74M▼

Operating profit (loss)9901€338k€371k▲

Financial income75/76B€15k€36k▲

Recurring financial income75€15k€36k▲

Financial charges65/66B€85k€83k▼

Recurring financial charges65€85k€83k▼

Profit (loss) for the period before taxes9903€267k€324k▲

Income taxes67/77€75k€85k▲

Profit (loss) for the period9904€192k€239k▲

Profit (loss) for the period to be appropriated9905€192k€239k▲

Appropriation of the result

Profit (loss) to be appropriated9906€895k€1.13M▲

Profit (loss) brought forward from the previous period14P€703k€893k▲

Profit to be distributed694/7€2k€2k=

Return on contributions (dividend)694€2k€2k=

Social balance

Average headcount (FTE)908721.321.4▲

The notes to these accounts (29 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Download as CSV

Timeline · acts, filings and financial milestones

All 14Financial 3Gazette 1Filings 10

2026

13-08

State Gazette act Miscellaneous

General meeting · Mandate compensation2 facts ▸

General meeting, 05/08/2026
Mandate compensation, Eric Reul

2025

03-03

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

08-04

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

16-03

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

31-12

Financial Weakest financial yearnet €165k ▼35.8%

Net result drops to €165k, the lowest in the series; recovery starts the following year.

18-02

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

19-03

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

29-05

NBB filing Annual accounts filed

fiscal year 2019 · full schema

2019

31-12

Financial Highest result since 2018net €423k ▲151%

Operating result €457k, net result €423k, both a record.

31-12

Financial Equity above €1MEq €1.12M ▲79%

2 profitable years in a row build equity to €1.12M.

01-03

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

07-03

NBB filing Annual accounts filed

fiscal year 2017 · full schema

2017

20-04

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

18-05

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

8 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.

Location & real-estate footprint

Registered office, Baelen · 2 establishment units since 1985

establishment All 2 establishment units on the map

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.

Rue des Bas-Fourneaux 54837 Baelen

Ground area

1.7 ha

Building footprint

4,704 m²

Volume, LiDAR

1,022 m³

2 parcels, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.

2 establishment units

Rue des Bas-Fourneaux 5, 4837 Baelen

NACE 36100

since 19852.027.044.335

Reul Frères

Route Jean XXIII(BLN) 60, 4837 BaelenManufacture of furniture

since 20122.212.350.561

2 parcels

Wallonia 2 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
63004A0809/00A000	Wallonia	1.5 ha	1 · 4,527 m²	-
63004C0706/00B000	Wallonia	2,087 m²	1 · 176 m²	7.8 m · 2 fl.

Linked by address, not proof of ownership

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Recognitions · licences · registrations

Legal Entity Identifier

254900XF9ASD57CUJL04

live in the LEI register

Similar companies · same sector, comparable size

ANRESTO DECOR

BE 0416.025.080

Lommel · Eq €1.93M

MENUISERIE GENERALE ALAIN ROSEN

BE 0465.056.701

Malmedy · Eq €1.93M

SCHRIJNWERKERIJ DECONINCK

Oosterzele · Eq €1.94M

ALUCALL

BE 0886.172.204

Anzegem · Eq €1.92M

Of 20,026 companies in sector 43320 we hold annual accounts for 9,136. 2,921 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded27-03-1985

Fiscal year end31-12

Activities, NACEBEL

31004Manufacture of dining room, living room, bedroom and bathroom furniture

36141

43320Joinery installation

45421

31003Manufacture of furniture

43333Wallpapering and laying of floor and wall coverings in other materials

43410Roofing work

45220

45433

Sources

Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers

Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.