RLK
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-06-2026 PDF all 2 filings
Every figure per financial year
The operating result for 2025 is 55% lower than 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.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €47,345 | €344,780 |
| Depreciation and write-downs of the year | €15,066 | €25,106 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,066 | €25,106 | ▲ 66.6% |
| Other operating charges640/8 | €1,202 | €2,757 | ▲ 129% |
| Gross operating margin9900 | €65,677 | €49,891 | ▼ 24.0% |
| Operating profit (loss)9901 | €49,409 | €22,028 | ▼ 55.4% |
| Financial income75/76B | €3 | - | - |
| Recurring financial income75 | €3 | - | - |
| Financial charges65/66B | €276 | €6,767 | ▲ 24× |
| Recurring financial charges65 | €276 | €6,767 | ▲ 24× |
| Profit (loss) for the period before taxes9903 | €49,136 | €15,261 | ▼ 68.9% |
| Income taxes67/77 | €14,962 | €4,243 | ▼ 71.6% |
| Profit (loss) for the period9904 | €34,174 | €11,018 | ▼ 67.8% |
| Profit (loss) for the period to be appropriated9905 | €34,174 | €11,018 | ▼ 67.8% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €163,248 | €413,818 | ▲ 153% |
| Fixed assets21/28 | €55,045 | €374,719 | ▲ 581% |
| Tangible fixed assets22/27 | €55,045 | €374,719 | ▲ 581% |
| Land and buildings22 | - | €321,904 | - |
| Plant, machinery and equipment23 | €22,882 | €28,371 | ▲ 24.0% |
| Furniture and vehicles24 | €32,163 | €24,444 | ▼ 24.0% |
| Current assets29/58 | €108,203 | €39,100 | ▼ 63.9% |
| Stocks and contracts in progress3 | €800 | €1,200 | ▲ 50.0% |
| Stocks30/36 | €800 | €1,200 | ▲ 50.0% |
| Amounts receivable within one year40/41 | €16,927 | €12,108 | ▼ 28.5% |
| Trade receivables40 | €16,927 | €9,951 | ▼ 41.2% |
| Other amounts receivable41 | - | €2,157 | - |
| Cash at bank and in hand54/58 | €89,056 | €25,792 | ▼ 71.0% |
| Deferred charges and accrued income490/1 | €1,420 | - | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €163,248 | €413,818 | ▲ 153% |
| Equity10/15 | €115,838 | €126,856 | ▲ 9.5% |
| Contributions10/11 | €2,000 | €2,000 | = |
| Reserves13 | €105,200 | €116,200 | ▲ 10.5% |
| Distributable reserves133 | €105,200 | €116,200 | ▲ 10.5% |
| Profit (loss) carried forward14 | €8,638 | €8,656 | ▲ 0.2% |
| Amounts payable17/49 | €47,410 | €286,962 | ▲ 505% |
| Amounts payable after more than one year17 | €8,200 | €241,623 | ▲ 29× |
| Financial debts170/4 | €8,200 | €241,623 | ▲ 29× |
| Amounts payable within one year42/48 | €37,149 | €43,929 | ▲ 18.3% |
| Current portion of amounts payable after more than one year42 | - | €13,208 | - |
| Trade debts44 | €16,418 | €7,643 | ▼ 53.4% |
| Suppliers440/4 | €16,418 | €7,643 | ▼ 53.4% |
| Taxes, remuneration and social security45 | €12,990 | €6,597 | ▼ 49.2% |
| Taxes450/3 | €10,063 | €3,643 | ▼ 63.8% |
| Remuneration and social security454/9 | €2,927 | €2,954 | ▲ 0.9% |
| Other amounts payable47/48 | €7,741 | €16,481 | ▲ 113% |
| Accrued charges and deferred income492/3 | €2,062 | €1,411 | ▼ 31.6% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €34,174 | €11,018 | ▼ 67.8% |
| + Depreciation and write-downs630 | €15,066 | €25,106 | ▲ 66.6% |
| Operating cash flow (approximation) | €49,240 | €36,124 | ▼ 26.6% |
| Investment in fixed assets (approximation) | - | -€344,780 | - |
| Change in cash | - | -€63,264 | - |
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, 5,047 companies had the same profile as RLK has now. Two years later, 93.9% were still going and 2.2% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of RLK itself: 0.4% 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 5,047 companies, not a prediction for RLK. 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.