RFAG
ActiveRFAG has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-16k) and a net result of €19k. Equity is shrinking by ~79.7% per year across the filed fiscal years. Its solvency ranks better than 16% of 174 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
48
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80▲+80
Solvency17▲+17
Growth58▲+26
Track record94
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.97 against 0.88 in 2024; short-term debt: 103% and cash: 4.4% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Ten signals. The signal on the left, the evidence on the right.
−lowers risk+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 · 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
-7.6%
Return on assets
8.9%
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 38
Relative position
BE, all sectors
reference
Sector 38
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 174 sector peers (2025).
NBB · sector comparisonPosition among 174 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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
24 d late
2024
28 d late
2023
8 d early
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-16k▲ 54.0%
2024 · €-34k
2023: €39k
2024: €-34k
2023 → 2025
Total assets
€209k▲ 85.7%
2024 · €113k
2023: €158k
2024: €113k
2023 → 2025
Net result
€19k
2024 · €-74k
2023: €-51k
2024: €-74k
2023 → 2025
Working capital
€-7k▲ 53.7%
2024 · €-16k
2023: €38k
2024: €-16k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€39k-€-34k€-16k▲ 54.0%
Operating result€-51k-€-73k▼ 44.3%€20k
Net result€-51k-€-74k▼ 44.3%€19k
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €20k after a loss of €73k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €209k
Fixed assets
€1k▲ 166%
Current assets
€208k▲ 85.5%
Key figures and ratios
EBITDA
€20k▲
2024 · €-73k
Cash flow
€19k▲
2024 · €-73k
Solvency
-7.6%▲
2024 · -30.6%
Current ratio
0.97▲
2024 · 0.88
Quick ratio
0.97▲
2024 · 0.88
Debt / equity
-14.18▼
2024 · -4.27
ROA
8.9%▲
2024 · -65.3%
Interest coverage
15.25▲
2024 · -1117.89
Debt
€225k▲
2024 · €147k
Debt ≤ 1 year
€215k▲
2024 · €128k
Debt > 1 year
€10k▼
2024 · €19k
Staff costs
€144k▲
2024 · €125k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€113k€209k▲
Formation expenses20€0€0=
Fixed assets21/28€398€1k▲
Tangible fixed assets22/27€173€834▲
Furniture and vehicles24€173€834▲
Financial fixed assets28€225€225=
Current assets29/58€112k€208k▲
Amounts receivable within one year40/41€68k€197k▲
Trade receivables40€22k€21k▼
Other amounts receivable41€46k€176k▲
Cash at bank and in hand54/58€14k€9k▼
Deferred charges and accrued income490/1€30k€1k▼
Equity and liabilities
Total equity and liabilities10/49€113k€209k▲
Equity10/15€-34k€-16k▲
Contributions10/11€90k€90k=
Profit (loss) carried forward14€-124k€-106k▲
Amounts payable17/49€147k€225k▲
Amounts payable after more than one year17€19k€10k▼
Trade debts175€19k€10k▼
Amounts payable within one year42/48€128k€215k▲
Current portion of amounts payable after more than one year42€9k€19k▲
Trade debts44€62k€177k▲
Suppliers440/4€62k€177k▲
Advances received on contracts in progress46€26k€8▼
Taxes, remuneration and social security45€30k€19k▼
Taxes450/3€3k€4k▲
Remuneration and social security454/9€27k€15k▼
Other amounts payable47/48€640€256▼
Income statement
Code20242025
Remuneration, social security and pensions62€125k€144k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€561€98▼
Other operating charges640/8€2k-
Gross operating margin9900€54k€164k▲
Operating profit (loss)9901€-73k€20k▲
Financial income75/76B-€11
Recurring financial income75-€11
Financial charges65/66B€65€1k▲
Recurring financial charges65€65€1k▲
Profit (loss) for the period before taxes9903€-74k€19k▲
Profit (loss) for the period9904€-74k€19k▲
Profit (loss) for the period to be appropriated9905€-74k€19k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-124k€-106k▲
Profit (loss) brought forward from the previous period14P€-51k€-124k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
31-12
Financial
Back to profitnet €19k
Net result €19k after 2 loss-making years.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet €-74k
Net result drops to €-74k, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Neufchâteau · 2 establishment units since 2023
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.
Chemin de la Terre Franche, NEU 526840 NeufchâteauGround area
1.3 ha
Building footprint
2,153 m²
Volume, LiDAR
13,402 m³
Parcel 84043A0064/00G000, Wallonia · tallest building 11.0 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
RFAG
since 20232.348.177.681
RFAG
since 20252.374.454.684
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 84043A0064/00G000 | Wallonia | 1.3 ha | 1 · 2,153 m² | 11.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
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DIMET
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LIOTRADING
BE 0777.796.379
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N&S
BE 0670.558.228
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Dr. Trottoir
BE 0747.639.475
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Of 394 companies in sector 38110 we hold annual accounts for 202. 88 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formCooperative company
Founded07-03-2023
Fiscal year end31-12
Activities, NACEBEL
38110Waste collection, recovery and disposal activities
38210Materials recovery from waste
38329Waste collection, recovery and disposal activities
88999Other social work without accommodation
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:rh@terre.be
Phone:+3242405841