RF CONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of RF CONSTRUCT is 3.5% (moderate). For RF CONSTRUCT, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €58k and a net result of €21k. Equity is growing by ~47.7% per year across the filed fiscal years. Its solvency ranks better than 43% of 33673 sector peers (fiscal year 2023). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability91▲+16
Solvency64▲+16
Growth52▲+7
Track record100
Bankruptcy probability, 12 months
3.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · 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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2023Solvency, return and age of the figures
Solvency
38.9%
Return on assets
14.1%
Age of the figures
33 mo
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 3 filingsPosition against the passed deadline
31-12-2024 close31-07-2025 deadline25-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 29-08-2024, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 3 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
29 d late
2022
3 d early
2021
24 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2023, micro schema
Turnover
€224k▼ 18.9%
2022 · €276k
2021: €280khighest in 3 years
2022: €276k▼ -1.3% vs 2021
2023: €224k▼ -18.9% vs 2022lowest in 3 years
2021 → 2023
EBIT margin
14.3%▲ 6.3pp
2022 · 8.0%
2021: 7.8%lowest in 3 years
2022: 8.0%▲ +3.3% vs 2021
2023: 14.3%▲ +78.4% vs 2022highest in 3 years
2021 → 2023
Net result
€21k▲ 48.6%
2022 · €14k
2021: €21k
2022: €14k▼ -31.7% vs 2021lowest in 3 years
2023: €21k▲ +48.6% vs 2022highest in 3 years
2021 → 2023
Working capital
€86k▲ 3.9%
2022 · €83k
2021: €61klowest in 3 years
2022: €83k▲ +35.3% vs 2021
2023: €86k▲ +3.9% vs 2022highest in 3 years
2021 → 2023
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202120222023Trend
Turnover€280k-€276k▼ 1.3%€224k▼ 18.9%
2021: €280khighest in 3 years
2022: €276k▼ -1.3% vs 2021
2023: €224k▼ -18.9% vs 2022lowest in 3 years
Equity€23k-€37k▲ 62.3%€58k▲ 57.0%
2021: €23klowest in 3 years
2022: €37k▲ +62.3% vs 2021
2023: €58k▲ +57.0% vs 2022highest in 3 years
Operating result€22k-€22k▲ 1.9%€32k▲ 44.7%
2021: €22klowest in 3 years
2022: €22k▲ +1.9% vs 2021
2023: €32k▲ +44.7% vs 2022highest in 3 years
Net result€21k-€14k▼ 31.7%€21k▲ 48.6%
2021: €21k
2022: €14k▼ -31.7% vs 2021lowest in 3 years
2023: €21k▲ +48.6% vs 2022highest in 3 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2023 is 45% above 2022 and is the highest result in the available series.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €150k
Fixed assets
€41k ▼ 21.9%
Current assets
€110k ▲ 2.5%
Equity and liabilities €150k
Equity
€58k ▲ 57.0%
Provisions
€40k ▼ 20.0%
Debt
€52k ▼ 27.8%
Debt's share of the balance-sheet total falls from 45.1% to 34.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€45k▲
2022 · €32k
Cash flow
€35k▲
2022 · €24k
Current ratio
4.60▲
2022 · 4.39
Debt to equity
0.88▼
2022 · 1.92
ROE
36.3%▼
2022 · 38.4%
ROA
14.1%▲
2022 · 9.0%
Interest coverage
17.96▼
2022 · 18.57
Debt ≤ 1 year
€24k▼
2022 · €24k
Debt > 1 year
€28k▼
2022 · €37k
Income taxes
€8k▲
2022 · €6k
Staff costs
€10k
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 · 2023 against 2022 · 45 lines
Balance sheet
Code20222023
Assets
Total assets20/58€159k€150k▼
Fixed assets21/28€52k€41k▼
Tangible fixed assets22/27€52k€41k▼
Furniture and vehicles24€52k€41k▼
Current assets29/58€107k€110k▲
Amounts receivable within one year40/41€100k€100k▼
Trade receivables40€33k€21k▼
Other amounts receivable41€67k€79k▲
Cash at bank and in hand54/58€7k€10k▲
Equity and liabilities
Total equity and liabilities10/49€159k€150k▼
Equity10/15€37k€58k▲
Contributions10/11€2k€2k=
Capital10€2k-
Issued capital100€2k-
Profit (loss) carried forward14€35k€56k▲
Provisions and deferred taxes16€50k€40k▼
Provisions for liabilities and charges160/5€50k€40k▼
Other liabilities and charges164/5€50k€40k▼
Amounts payable17/49€72k€52k▼
Amounts payable after more than one year17€37k€28k▼
Financial debts170/4€37k€28k▼
Amounts payable within one year42/48€24k€24k▼
Current portion of amounts payable after more than one year42€9k€9k▲
Trade debts44€9k€62▼
Suppliers440/4€9k€62▼
Taxes, remuneration and social security45€6k€14k▲
Taxes450/3€6k€14k▲
Accrued charges and deferred income492/3€10k-
Income statement
Code20222023
Turnover70€276k€224k▼
Goods, raw materials, services and sundry goods60/61€217k€180k▼
Remuneration, social security and pensions62-€10k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€13k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€22k€-10k▼
Other operating charges640/8€1k€3k▲
Non-recurring operating charges66A€3k-
Gross operating margin9900€59k€48k▼
Operating profit (loss)9901€22k€32k▲
Financial charges65/66B€2k€3k▲
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€20k€29k▲
Income taxes67/77€6k€8k▲
Profit (loss) for the period9904€14k€21k▲
Profit (loss) for the period to be appropriated9905€14k€21k▲
Appropriation of the result
Profit (loss) to be appropriated9906€35k€56k▲
Profit (loss) brought forward from the previous period14P€21k€35k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Turnover70 | €280k | €276k | €224k | ▼ 18.9% |
| Goods, raw materials, services and sundry goods60/61 | €227k | €217k | €180k | ▼ 17.3% |
| Remuneration, social security and pensions62 | - | - | €10k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3k | €10k | €13k | ▲ 38.9% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €28k | €22k | €-10k | ▼ 145% |
| Other operating charges640/8 | €72 | €1k | €3k | ▲ 113% |
| Non-recurring operating charges66A | - | €3k | - | - |
| Gross operating margin9900 | €52k | €59k | €48k | ▼ 17.9% |
| Operating profit (loss)9901 | €22k | €22k | €32k | ▲ 44.7% |
| Financial charges65/66B | €777 | €2k | €3k | ▲ 47.8% |
| Recurring financial charges65 | €777 | €2k | €3k | ▲ 47.8% |
| Profit (loss) for the period before taxes9903 | €21k | €20k | €29k | ▲ 44.4% |
| Income taxes67/77 | - | €6k | €8k | ▲ 34.7% |
| Profit (loss) for the period9904 | €21k | €14k | €21k | ▲ 48.6% |
| Profit (loss) for the period to be appropriated9905 | €21k | €14k | €21k | ▲ 48.6% |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €135k | €159k | €150k | ▼ 5.5% |
| Fixed assets21/28 | €6k | €52k | €41k | ▼ 21.9% |
| Tangible fixed assets22/27 | €6k | €52k | €41k | ▼ 21.9% |
| Furniture and vehicles24 | €6k | €52k | €41k | ▼ 21.9% |
| Current assets29/58 | €129k | €107k | €110k | ▲ 2.5% |
| Amounts receivable within one year40/41 | €129k | €100k | €100k | ▼ 0.5% |
| Trade receivables40 | €98k | €33k | €21k | ▼ 37.5% |
| Other amounts receivable41 | €32k | €67k | €79k | ▲ 18.0% |
| Cash at bank and in hand54/58 | - | €7k | €10k | ▲ 46.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €135k | €159k | €150k | ▼ 5.5% |
| Equity10/15 | €23k | €37k | €58k | ▲ 57.0% |
| Contributions10/11 | €2k | €2k | €2k | = |
| Capital10 | €2k | €2k | - | - |
| Issued capital100 | €2k | €2k | - | - |
| Profit (loss) carried forward14 | €21k | €35k | €56k | ▲ 60.3% |
| Provisions and deferred taxes16 | €28k | €50k | €40k | ▼ 20.0% |
| Provisions for liabilities and charges160/5 | €28k | €50k | €40k | ▼ 20.0% |
| Other liabilities and charges164/5 | €28k | €50k | €40k | ▼ 20.0% |
| Amounts payable17/49 | €85k | €72k | €52k | ▼ 27.8% |
| Amounts payable after more than one year17 | - | €37k | €28k | ▼ 25.3% |
| Financial debts170/4 | - | €37k | €28k | ▼ 25.3% |
| Amounts payable within one year42/48 | €69k | €24k | €24k | ▼ 2.0% |
| Current portion of amounts payable after more than one year42 | - | €9k | €9k | ▲ 3.0% |
| Trade debts44 | €69k | €9k | €62 | ▼ 99.3% |
| Suppliers440/4 | €69k | €9k | €62 | ▼ 99.3% |
| Taxes, remuneration and social security45 | - | €6k | €14k | ▲ 135% |
| Taxes450/3 | - | €6k | €14k | ▲ 135% |
| Accrued charges and deferred income492/3 | €16k | €10k | - | - |
| Line | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €21k | €14k | €21k | ▲ 48.6% |
| + Depreciation and write-downs630 | €3k | €10k | €13k | ▲ 38.9% |
| Operating cash flow (approximation) | €24k | €24k | €35k | ▲ 44.6% |
| Investment in fixed assets (approximation) | - | €-56k | €-2k | ▲ 96.2% |
| Change in cash | - | - | €3k | - |
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
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Highest result since 2021net €21k ▲48.6%
Operating result €32k, net result €21k, both a record.
28-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €14k ▼31.7%
Net result drops to €14k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity doublescurrent ratio 4.39
Current ratio from 1.89 to 4.39; short-term debt falls from €69k to €24k.
24-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 24 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.
Have them read with priority
Sign in to place this company at the front of the reading queue.
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, Tubize · 1 establishment unit since 2020
Ground area
1,529 m²
Building footprint
198 m²
Volume, LiDAR
1,792 m³
Parcel 25019B0229/00F022, Wallonia · tallest building 12.2 m, ±3 floors. Linked by address, not a title deed.
13
companies at this address
See who is registered here
1 establishment unit
RF CONSTRUCT
since 20202.358.678.724
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25019B0229/00F022 | Wallonia | 1,529 m² | 1 · 198 m² | 12.2 m · 3 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.
Similar companies · same sector, comparable size
GT-Construct
BE 0664.751.886
Dendermonde · Eq €58,449
G. MATHIAS
BE 0682.624.830
Schaarbeek · Eq €58,366
FACAUSUD
BE 0839.171.249
Namur · Eq €58,504
I.F. CONSTRUCT
BE 0633.813.737
Charleroi · Eq €58,505
CD PROJET
BE 0598.928.082
Ganshoren · Eq €58,325
Of 15,529 companies in sector 43990 we hold annual accounts for 7,420. 6,173 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
Founded20-08-2020
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
81210General cleaning of buildings
Scores and ratios are computed by Checked and are not a credit decision.