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RF MANAGEMENT

Active
Private limited companyfounded 20232 yrs activeRue Lavalle(NAL) 64, 6120 Ham-sur-Heure-Nalinnes, BelgiumKBO/BCE: BE 1003.550.617
Summary

RF MANAGEMENT has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3,304 and a net result of €3,677. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 30% of 14254 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability80▲+80
Solvency33▲+14
Growth78▲+46
Track record82
Bankruptcy probability, 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
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Signals

Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 08-06-2026, 53 days ahead of the deadline.
NBB · 3 filings
Deviation from the deadline
2025
53 d early
2024
5 d late
2023
9 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 13 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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. Usually files around 5 August (3 of the last 3 filed years within 58 days of that day).
Companies Code · seven months
Position in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · 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

History

On 18 December 2023, RF MANAGEMENT was incorporated as a Private limited company.1 Total assets went from EUR 3,679 in 2023 to EUR 40,816 in 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2023 and 2025

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Financials · fiscal year 2025, micro schema

Equity
€3,304
2024 · -€373
Total assets
€40,816▲ 563%
2024 · €6,154
Net result
€3,677
2024 · -€3,546
Working capital
€2,252
2024 · -€373
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.

Every figure with its change against the fiscal year before
favourable unfavourable
Line202320242025
Operating result-€1,828--€3,238▼ 77.2%€5,542
Net result-€1,828within the sector's middle half--€3,546within the sector's middle half▼ 94.0%€3,677within the sector's middle half
Equity€3,172below the sector's middle half--€373below the sector's middle half€3,304below the sector's middle half
Total assets€3,679below the sector's middle half-€6,154below the sector's middle half▲ 67.3%€40,816below the sector's middle half▲ 563%
Debt€507-€6,528▲ 1,188%€37,512▲ 475%
Working capital€3,557within the sector's middle half--€373within the sector's middle half€2,252within the sector's middle half
Solvency-6.1%below the sector's middle half8.1%within the sector's middle half▲ 14.2pp
Current ratio0.94within the sector's middle half1.06within the sector's middle half▲ 0.12
Return on assets (ROA)-57.6%below the sector's middle half9.0%within the sector's middle half▲ 66.6pp
above within below the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€5,000-€2,500€0€2,500€5,000Operating result 2023: -€1,828-€1,828Net result 2023: -€1,828-€1,828Operating result 2024: -€3,238-€3,238Net result 2024: -€3,546-€3,546Operating result 2025: €5,542€5,542Net result 2025: €3,677€3,677202320242025-€5,000-€2,500€0€2,500€5,000Operating result 2023: -€1,828-€1,830Net result 2023: -€1,828-€1,830Operating result 2024: -€3,238-€3,240Net result 2024: -€3,546-€3,550Operating result 2025: €5,542€5,540Net result 2025: €3,677€3,680202320242025
The operating result returns to profit in 2025: €5,542 after a loss of €3,238 in 2024, the highest result in the available series.
Balance-sheet composition
Assets €40,816
Fixed assets €1,052
Current assets €39,764
Equity and liabilities €40,816
Equity €3,304
Debt €37,512
Debt finances 91.9% of the balance-sheet total.
Key figures and ratios
2025 value · change against 2024
EBITDA
€5,646
Cash flow
€3,782
Debt to equity
11.35
ROE
111.3%
Interest coverage
72.42
Debt ≤ 1 year
€37,512▲
2024 · €6,528
Income taxes
€1,792▲
2024 · €235
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 2,155 companies that looked in July 2024 the way this one looks now, 2.6% went bankrupt within 24 months and 94% are still going.

  • Micro
  • 2 to 5 years old
  • solvency under 10%
  • a profit of 5% of the balance sheet or more
2.6% went bankrupt
2.6% stopped otherwise
94% still going

A further 0.7% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.

The companies in ten equal groups, from lowest to highest expected share.
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% 1.7%
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 75% 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 2,155 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines
Balance sheet Code20242025
Assets
Total assets20/58€6,154€40,816▲
Fixed assets21/28-€1,052
Tangible fixed assets22/27-€1,052
Furniture and vehicles24-€1,052
Current assets29/58€6,154€39,764▲
Amounts receivable within one year40/41€0€10,000▲
Trade receivables40-€10,000
Other amounts receivable41€0-
Cash at bank and in hand54/58€6,154€24,586▲
Deferred charges and accrued income490/1-€5,178
Equity and liabilities
Total equity and liabilities10/49€6,154€40,816▲
Equity10/15-€373€3,304▲
Contributions10/11€5,000€5,000=
Profit (loss) carried forward14-€5,373-€1,696▲
Amounts payable17/49€6,528€37,512▲
Amounts payable within one year42/48€6,528€37,512▲
Trade debts44€3,776€2,167▼
Suppliers440/4€3,776€2,167▼
Taxes, remuneration and social security45€2,717€11,851▲
Taxes450/3€2,717€9,608▲
Remuneration and social security454/9-€2,243
Other amounts payable47/48€35€23,494▲
Accrued charges and deferred income492/3€0-
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€105
Other operating charges640/8€1,356€1,489▲
Gross operating margin9900-€1,883€7,135▲
Operating profit (loss)9901-€3,238€5,542▲
Financial income75/76B-€6
Recurring financial income75-€6
Financial charges65/66B€72€78▲
Recurring financial charges65€72€78▲
Profit (loss) for the period before taxes9903-€3,310€5,470▲
Income taxes67/77€235€1,792▲
Profit (loss) for the period9904-€3,546€3,677▲
Profit (loss) for the period to be appropriated9905-€3,546€3,677▲
Appropriation of the result
Profit (loss) to be appropriated9906-€5,373-€1,696▲
Profit (loss) brought forward from the previous period14P-€1,828-€5,373▼

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630--€105-
Other operating charges640/8€434€1,356€1,489▲ 9.9%
Gross operating margin9900-€1,393-€1,883€7,135▲ 479%
Operating profit (loss)9901-€1,828-€3,238€5,542▲ 271%
Financial income75/76B--€6-
Recurring financial income75--€6-
Financial charges65/66B-€72€78▲ 8.9%
Recurring financial charges65-€72€78▲ 8.9%
Profit (loss) for the period before taxes9903-€1,828-€3,310€5,470▲ 265%
Income taxes67/77-€235€1,792▲ 661%
Profit (loss) for the period9904-€1,828-€3,546€3,677▲ 204%
Profit (loss) for the period to be appropriated9905-€1,828-€3,546€3,677▲ 204%
Line202320242025Change
Assets
Total assets20/58€3,679€6,154€40,816▲ 563%
Fixed assets21/28--€1,052-
Tangible fixed assets22/27--€1,052-
Furniture and vehicles24--€1,052-
Current assets29/58€3,679€6,154€39,764▲ 546%
Amounts receivable within one year40/41€210€0€10,000-
Trade receivables40--€10,000-
Other amounts receivable41€210€0--
Cash at bank and in hand54/58€3,469€6,154€24,586▲ 300%
Deferred charges and accrued income490/1--€5,178-
Equity and liabilities
Total equity and liabilities10/49€3,679€6,154€40,816▲ 563%
Equity10/15€3,172-€373€3,304▲ 985%
Contributions10/11€5,000€5,000€5,000=
Profit (loss) carried forward14-€1,828-€5,373-€1,696▲ 68.4%
Amounts payable17/49€507€6,528€37,512▲ 475%
Amounts payable within one year42/48€123€6,528€37,512▲ 475%
Trade debts44€123€3,776€2,167▼ 42.6%
Suppliers440/4€123€3,776€2,167▼ 42.6%
Taxes, remuneration and social security45-€2,717€11,851▲ 336%
Taxes450/3-€2,717€9,608▲ 254%
Remuneration and social security454/9--€2,243-
Other amounts payable47/48-€35€23,494▲ 67,025%
Accrued charges and deferred income492/3€384€0--
Line202320242025Change
Profit (loss) for the period9904-€1,828-€3,546€3,677▲ 204%
+ Depreciation and write-downs630--€105-
Operating cash flow (approximation)-€1,828-€3,546€3,782▲ 207%
Change in cash-€2,685€18,432▲ 586%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
08-06
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial Back to profitnet €3,677
Net result €3,677 after 2 loss-making years.
05-08
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 5 days late
2024
31-12
Financial Weakest financial yearnet -€3,546
Net result drops to -€3,546, the lowest in the series; recovery starts the following year.
09-08
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
1 act for this company is 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, Ham-sur-Heure-Nalinnes · 1 establishment unit since 2023
seat establishment The establishment unit on the map
Ground area
931 m²
Building footprint
125 m²
Volume, LiDAR
690 m³
Parcel 56058D0312/00B000, Wallonia · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
RF MANAGEMENT
Rue Lavalle(NAL) 64, 6120 Ham-sur-Heure-NalinnesReal estate activities
since 20232.354.848.709
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
56058D0312/00B000 Wallonia 931 m² 1 · 125 m² 7.2 m · 2 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

Of 11,757 companies in sector 68310 we hold annual accounts for 6,914. 1,603 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
Founded18-12-2023
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68201Renting and operating of own or leased residential real estate, excluding social housing
68202Real estate activities
68321Property management for co-owned buildings (syndics)
68322Real estate appraisal on a fee or contract basis
Contact
E-mail francois@passionimmobiliere.be
Phone +32489955348
Phone 0489/95.53.48Ham-sur-Heure-Nalinnes
E-invoicing
Reachable via Peppol
Peppol ID 0208:1003550617
Registered 27-11-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.