RL SOUS-TRAITANCE ENGINEERING
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 9 filings
Turnover
≈ €120,000
Estimated: probably between €50,000 and €230,000
Total assets
€105,501▼ 22.7%
2024 · €136,511
Net result
-€2,046▲ 90.6%
2024 · -€21,797
Working capital
€3,057
2024 · -€13,383
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€1,925
▲ 90.9%
2025
20182025
Net result
-€2,046
▲ 90.6%
2025
lowest quarter of the sector
20182025
Equity
€1,231
▼ 62.4%
2025
lowest quarter of the sector
20182025
Total assets
€105,501
▼ 22.7%
2025
middle half of the sector
20182025
Debt
€104,270
▼ 21.7%
2025
20182025
Working capital
€3,057
2025
middle half of the sector
20182025
Solvency
1.2%
▼ 1.2pp
2025
lowest quarter of the sector
20182025
Current ratio
1.05
▲ 0.19
2025
middle half of the sector
20182025
Return on assets (ROA)
-1.9%
▲ 14.0pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€37,893-€9,220▼ 75.7%-€72,884-€14,834▲ 79.6%-€47,318▼ 219%€159,457-€21,116-€1,925▲ 90.9%
Net result€35,354-€7,855▼ 77.8%-€74,175below the sector's middle half-€17,430below the sector's middle half▲ 76.5%-€50,789below the sector's middle half▼ 191%€156,027above the sector's middle half-€21,797below the sector's middle half-€2,046below the sector's middle half▲ 90.6%
Equity€3,585-€11,441▲ 219%-€62,734below the sector's middle half-€80,164below the sector's middle half▼ 27.8%-€130,953below the sector's middle half▼ 63.4%€25,074within the sector's middle half€3,277below the sector's middle half▼ 86.9%€1,231below the sector's middle half▼ 62.4%
Total assets€358,934-€62,154▼ 82.7%€34,934below the sector's middle half▼ 43.8%€24,489below the sector's middle half▼ 29.9%€22,527below the sector's middle half▼ 8.0%€138,012within the sector's middle half▲ 513%€136,511within the sector's middle half▼ 1.1%€105,501within the sector's middle half▼ 22.7%
Debt€355,349-€50,713▼ 85.7%€97,668▲ 92.6%€104,653▲ 7.2%€153,480▲ 46.7%€112,938▼ 26.4%€133,234▲ 18.0%€104,270▼ 21.7%
Working capital-€39,261-€25,608-€37,280below the sector's middle half-€50,673below the sector's middle half▼ 35.9%-€101,549below the sector's middle half▼ 100%€1,924within the sector's middle half-€13,383below the sector's middle half€3,057within the sector's middle half
Solvency1.0%-18.4%▲ 17.4pp-179.6%below the sector's middle half▼ 198.0pp-327.3%below the sector's middle half▼ 147.8pp-581.3%below the sector's middle half▼ 254.0pp18.2%below the sector's middle half▲ 599.5pp2.4%below the sector's middle half▼ 15.8pp1.2%below the sector's middle half▼ 1.2pp
Current ratio0.89-12.70▲ 11.810.23below the sector's middle half▼ 12.460.17below the sector's middle half▼ 0.060.09below the sector's middle half▼ 0.081.03within the sector's middle half▲ 0.930.85below the sector's middle half▼ 0.171.05within the sector's middle half▲ 0.19
Return on assets (ROA)9.8%-12.6%▲ 2.8pp-212.3%below the sector's middle half▼ 225.0pp-71.2%below the sector's middle half▲ 141.2pp-225.5%below the sector's middle half▼ 154.3pp113.1%above the sector's middle half▲ 338.5pp-16.0%below the sector's middle half▼ 129.0pp-1.9%below the sector's middle half▲ 14.0pp
above
within
below
The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €1,925, smaller than the loss of €21,116 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €105,501
Fixed assets
€39,540 ▼ 31.9%
Current assets
€65,962 ▼ 16.0%
Equity and liabilities €105,501
Equity
€1,231 ▼ 62.4%
Debt
€104,270 ▼ 21.7%
Debt's share of the balance-sheet total rises from 97.6% to 98.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€16,560▲
2024 · -€1,246
Cash flow
€16,439▲
2024 · -€1,927
Debt to equity
84.70▲
2024 · 40.66
ROE
-166.2%▲
2024 · -665.1%
Interest coverage
over 100▲
2024 · -1.84
Debt ≤ 1 year
€62,905▼
2024 · €91,869
Debt > 1 year
€41,365=
2024 · €41,365
Income taxes
€11▲
2024 · €5
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €5,280 | €65,915 | €6,880 | - |
| Depreciation and write-downs of the year | €9,590 | €7,395 | €13,361 | €19,870 | €18,485 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | - | €670 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,609 | €9,590 | €9,590 | €9,590 | €7,395 | €13,361 | €19,870 | €18,485 | ▼ 7.0% |
| Other operating charges640/8 | - | - | - | €861 | €191 | €792 | €331 | €829 | ▲ 150% |
| Gross operating margin9900 | €64,844 | €20,513 | -€61,675 | -€4,383 | -€39,732 | €174,280 | -€915 | €17,389 | - |
| Operating profit (loss)9901 | €37,893 | €9,220 | -€72,884 | -€14,834 | -€47,318 | €159,457 | -€21,116 | -€1,925 | ▲ 90.9% |
| Financial income75/76B | - | - | - | €82 | €0 | €2 | €0 | €0 | ▼ 85.7% |
| Recurring financial income75 | - | €401 | €13 | €82 | €0 | €2 | €0 | €0 | ▼ 85.7% |
| Financial charges65/66B | - | - | - | €2,678 | €3,471 | €177 | €676 | €110 | ▼ 83.7% |
| Recurring financial charges65 | €2,540 | €330 | €882 | €2,678 | €3,471 | €177 | €676 | €110 | ▼ 83.7% |
| Profit (loss) for the period before taxes9903 | €35,354 | €9,290 | -€73,752 | -€17,430 | -€50,789 | €159,282 | -€21,792 | -€2,035 | ▲ 90.7% |
| Income taxes67/77 | - | €1,435 | €423 | - | - | €3,255 | €5 | €11 | ▲ 118% |
| Profit (loss) for the period9904 | €35,354 | €7,855 | -€74,175 | -€17,430 | -€50,789 | €156,027 | -€21,797 | -€2,046 | ▲ 90.6% |
| Profit (loss) for the period to be appropriated9905 | €35,354 | €7,855 | -€74,175 | -€17,430 | -€50,789 | €156,027 | -€21,797 | -€2,046 | ▲ 90.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €358,934 | €62,154 | €34,934 | €24,489 | €22,527 | €138,012 | €136,511 | €105,501 | ▼ 22.7% |
| Fixed assets21/28 | €42,847 | €34,357 | €23,667 | €14,077 | €11,961 | €64,515 | €58,025 | €39,540 | ▼ 31.9% |
| Tangible fixed assets22/27 | €42,751 | €33,161 | €23,571 | €13,981 | €11,865 | €64,419 | €57,929 | €39,444 | ▼ 31.9% |
| Plant, machinery and equipment23 | - | - | - | €13,981 | €6,981 | €60,854 | €50,274 | €34,924 | ▼ 30.5% |
| Furniture and vehicles24 | - | - | - | - | €4,885 | €3,565 | €7,655 | €4,519 | ▼ 41.0% |
| Financial fixed assets28 | €96 | €1,196 | €96 | €96 | €96 | €96 | €96 | €96 | = |
| Current assets29/58 | €316,087 | €27,797 | €11,267 | €10,412 | €10,566 | €73,497 | €78,486 | €65,962 | ▼ 16.0% |
| Amounts receivable within one year40/41 | €310,395 | €27,600 | €11,210 | €9,077 | €7,594 | €56,552 | €75,742 | €63,443 | ▼ 16.2% |
| Trade receivables40 | - | - | - | €7,183 | €2,924 | €52,402 | €55,548 | €58,838 | ▲ 5.9% |
| Other amounts receivable41 | - | - | - | €1,895 | €4,670 | €4,151 | €20,195 | €4,604 | ▼ 77.2% |
| Cash at bank and in hand54/58 | €5,692 | €197 | €57 | €20 | €1,586 | €14,490 | €265 | €2,519 | ▲ 852% |
| Deferred charges and accrued income490/1 | - | - | - | €1,315 | €1,385 | €2,454 | €2,479 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €358,934 | €62,154 | €34,934 | €24,489 | €22,527 | €138,012 | €136,511 | €105,501 | ▼ 22.7% |
| Equity10/15 | €3,585 | €11,441 | -€62,734 | -€80,164 | -€130,953 | €25,074 | €3,277 | €1,231 | ▼ 62.4% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €27 | €27 | €27 | €27 | €27 | €27 | €27 | €27 | = |
| Non-distributable reserves130/1 | - | - | - | €27 | €27 | €27 | €27 | €27 | = |
| Reserves not available under the articles1311 | - | - | - | €27 | €27 | €27 | €27 | €27 | = |
| Profit (loss) carried forward14 | -€2,642 | €5,214 | -€68,961 | -€86,391 | -€137,180 | €18,847 | -€2,950 | -€4,996 | ▼ 69.4% |
| Amounts payable17/49 | €355,349 | €50,713 | €97,668 | €104,653 | €153,480 | €112,938 | €133,234 | €104,270 | ▼ 21.7% |
| Amounts payable after more than one year17 | - | €48,524 | €45,621 | €43,567 | €41,365 | €41,365 | €41,365 | €41,365 | = |
| Financial debts170/4 | - | - | - | €43,567 | €41,365 | €41,365 | €41,365 | €41,365 | = |
| Amounts payable within one year42/48 | €355,349 | €2,190 | €48,547 | €61,086 | €112,115 | €71,573 | €91,869 | €62,905 | ▼ 31.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,054 | €4,256 | €4,256 | €4,256 | €4,256 | = |
| Trade debts44 | €5,251 | €281 | €10,459 | €10,461 | €4,979 | €8,764 | €4,795 | €4,811 | ▲ 0.3% |
| Suppliers440/4 | - | - | - | €10,461 | €4,979 | €8,764 | €4,795 | €4,811 | ▲ 0.3% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €3,255 | €3,260 | - | - |
| Taxes450/3 | - | - | - | - | - | €3,255 | €3,260 | - | - |
| Other amounts payable47/48 | - | - | - | €48,570 | €102,880 | €55,298 | €79,558 | €53,838 | ▼ 32.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,354 | €7,855 | -€74,175 | -€17,430 | -€50,789 | €156,027 | -€21,797 | -€2,046 | ▲ 90.6% |
| + Depreciation and write-downs630 | €2,609 | €9,590 | €9,590 | €9,590 | €7,395 | €13,361 | €19,870 | €18,485 | ▼ 7.0% |
| Operating cash flow (approximation) | €37,963 | €17,445 | -€64,585 | -€7,840 | -€43,394 | €169,388 | -€1,927 | €16,439 | - |
| Investment in fixed assets (approximation) | - | -€1,100 | €1,100 | €0 | -€5,280 | -€65,915 | -€13,380 | €0 | - |
| Change in cash | - | -€5,495 | -€140 | -€37 | €1,566 | €12,904 | -€14,226 | €2,254 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 1,037 companies had the same profile as RL SOUS-TRAITANCE ENGINEERING has now. Two years later, 93.8% were still going and 2.9% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a small loss
93.8%
was still going
2.9%
stopped otherwise
2.9%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of RL SOUS-TRAITANCE ENGINEERING itself: 1.5% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,037 companies, not a prediction for RL SOUS-TRAITANCE ENGINEERING. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 01-07-2026 | 2026-00248779 | |
| 31-12-2024 | micro format | 31-08-2025 | 2025-00472560 | |
| 31-12-2023 | micro format | 31-08-2024 | 2024-00451704 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00420593 | |
| 31-12-2021 | micro format | 28-08-2022 | 2022-20329916 | |
| 31-12-2020 | micro format | 09-08-2021 | 2021-47300260 | |
| 31-12-2019 | micro format | 21-09-2020 | 2020-54200517 | |
| 31-12-2018 | micro format | 26-08-2019 | 2019-51100047 | |
| 31-12-2016 | full format | 26-08-2017 | 2017-49600029 |