RLST
ActiveSummary
The computed 12-month bankruptcy probability of RLST is 2.6% (moderate). The 2025 annual accounts show equity of €5.4m and a net result of €96,960. Equity is growing by ~19.9% per year across the filed fiscal years. The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
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Signals
This company filed its last 6 accounts on average 48 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, full schema
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Peer companies
Historical observationOf the 301 companies that looked in July 2024 the way this one looks now, 1.3% went bankrupt within 24 months and 98% are still going.
- Large
- solvency 10 to 30%
- a profit under 5% of the balance sheet
- without age
For this company itself Checked computes a higher bankruptcy probability: 2.6% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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%.
| 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 301 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.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €818,849 | €914,106 | €926,178 | €953,557 | ▲ 3.0% |
| Turnover70 | - | €763,596 | €844,778 | €854,200 | €883,354 | ▲ 3.4% |
| Other operating income74 | - | €55,253 | €69,328 | €71,977 | €70,203 | ▼ 2.5% |
| Operating charges60/66A | - | €275,762 | €373,906 | €409,007 | €778,564 | ▲ 90.4% |
| Services and other goods61 | - | €70,403 | €155,594 | €188,301 | €555,599 | ▲ 195% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €149,238 | €149,238 | €148,024 | €147,762 | €147,762 | = |
| Other operating charges640/8 | €54,378 | €56,121 | €70,288 | €72,945 | €75,203 | ▲ 3.1% |
| Gross operating margin9900 | €724,846 | - | - | - | - | - |
| Operating profit (loss)9901 | €521,229 | €543,087 | €540,200 | €517,171 | €174,993 | ▼ 66.2% |
| Financial income75/76B | - | - | - | - | €768,767 | - |
| Recurring financial income75 | - | - | - | - | €768,767 | - |
| Income from current assets751 | - | - | - | - | €768,767 | - |
| Financial charges65/66B | €213,716 | €207,725 | €198,937 | €191,177 | €814,430 | ▲ 326% |
| Recurring financial charges65 | €213,716 | €207,725 | €198,937 | €191,177 | €814,430 | ▲ 326% |
| Debt charges650 | - | €207,260 | €198,205 | €190,398 | €814,129 | ▲ 328% |
| Other financial charges652/9 | - | €465 | €732 | €779 | €301 | ▼ 61.4% |
| Profit (loss) for the period before taxes9903 | €307,513 | €335,362 | €341,263 | €325,994 | €129,330 | ▼ 60.3% |
| Income taxes67/77 | - | €79,012 | €85,316 | €81,511 | €32,371 | ▼ 60.3% |
| Taxes670/3 | - | €79,012 | €85,316 | €81,511 | €32,371 | ▼ 60.3% |
| Profit (loss) for the period9904 | €307,513 | €256,350 | €255,947 | €244,483 | €96,960 | ▼ 60.3% |
| Profit (loss) for the period to be appropriated9905 | €307,513 | €256,350 | €255,947 | €244,483 | €96,960 | ▼ 60.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10.6m | €14.4m | €13.9m | €13.7m | €34.0m | ▲ 148% |
| Formation expenses20 | €1,739 | €262 | - | - | - | - |
| Fixed assets21/28 | €10.0m | €13.6m | €13.5m | €13.3m | €13.2m | ▼ 0.9% |
| Tangible fixed assets22/27 | €10.0m | €9.8m | €9.7m | €9.5m | €9.4m | ▼ 1.3% |
| Land and buildings22 | €10.0m | €9.8m | €9.7m | €9.5m | €9.4m | ▼ 1.3% |
| Financial fixed assets28 | - | €3.8m | €3.8m | €3.8m | €3.8m | = |
| Affiliated companies280/1 | - | €3.8m | €3.8m | €3.8m | €3.8m | = |
| Participating interests280 | - | €3.8m | €3.8m | €3.8m | €3.8m | = |
| Current assets29/58 | €616,486 | €743,891 | €468,493 | €416,206 | €20.8m | ▲ 4,902% |
| Amounts receivable after more than one year29 | - | - | - | - | €10.0m | - |
| Other amounts receivable291 | - | - | - | - | €10.0m | - |
| Amounts receivable within one year40/41 | €54,030 | - | €69,328 | €75,466 | €10.0m | ▲ 13,189% |
| Trade receivables40 | €54,030 | - | €69,328 | €71,977 | - | - |
| Other amounts receivable41 | - | - | - | €3,489 | €10.0m | ▲ 287,330% |
| Cash at bank and in hand54/58 | €562,456 | €739,145 | €394,031 | €334,701 | €495,941 | ▲ 48.2% |
| Deferred charges and accrued income490/1 | - | €4,747 | €5,135 | €6,039 | €293,456 | ▲ 4,759% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10.6m | €14.4m | €13.9m | €13.7m | €34.0m | ▲ 148% |
| Equity10/15 | €793,475 | €4.8m | €5.1m | €5.3m | €5.4m | ▲ 1.8% |
| Contributions10/11 | €1.0m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Capital10 | €1.0m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Issued capital100 | €1.0m | €1.5m | €1.5m | €1.5m | €1.5m | = |
| Reserves13 | - | €212,674 | €212,674 | €212,674 | €212,674 | = |
| Non-distributable reserves130/1 | - | €203,411 | €203,411 | €203,411 | €203,411 | = |
| Legal reserve130 | - | €202,488 | €202,488 | €202,488 | €202,488 | = |
| Reserves not available under the articles1311 | - | €923 | €923 | €923 | €923 | = |
| Distributable reserves133 | - | €9,264 | €9,264 | €9,264 | €9,264 | = |
| Profit (loss) carried forward14 | -€226,525 | €3.1m | €3.4m | €3.6m | €3.7m | ▲ 2.7% |
| Amounts payable17/49 | €9.8m | €9.5m | €8.8m | €8.4m | €28.6m | ▲ 240% |
| Amounts payable after more than one year17 | €9.2m | €8.8m | €8.3m | €7.9m | €25.5m | ▲ 223% |
| Financial debts170/4 | €9.2m | €8.8m | €8.3m | €7.9m | €25.5m | ▲ 223% |
| Subordinated loans170 | - | €2.0m | €1.8m | €1.8m | €1.8m | = |
| Credit institutions173 | - | €6.8m | €6.4m | €6.1m | €5.7m | ▼ 6.3% |
| Other loans174 | - | - | - | - | €18.0m | - |
| Amounts payable within one year42/48 | €394,572 | €490,823 | €496,283 | €435,932 | €2.6m | ▲ 487% |
| Current portion of amounts payable after more than one year42 | €384,180 | €384,180 | €384,180 | €384,180 | €2.4m | ▲ 521% |
| Trade debts44 | €10,392 | €27,632 | €22,776 | €41,436 | €124,238 | ▲ 200% |
| Suppliers440/4 | €10,392 | €27,632 | €22,776 | €41,436 | €124,238 | ▲ 200% |
| Taxes, remuneration and social security45 | - | €79,012 | €89,327 | €10,316 | - | - |
| Taxes450/3 | - | €79,012 | €89,327 | €10,316 | - | - |
| Other amounts payable47/48 | - | - | - | - | €50,478 | - |
| Accrued charges and deferred income492/3 | €248,229 | €257,974 | €63,425 | €63,425 | €507,819 | ▲ 701% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €307,513 | €256,350 | €255,947 | €244,483 | €96,960 | ▼ 60.3% |
| + Depreciation and write-downs630 | €149,238 | €149,238 | €148,024 | €147,762 | €147,762 | = |
| Operating cash flow (approximation) | €456,752 | €405,589 | €403,971 | €392,244 | €244,721 | ▼ 37.6% |
| Investment in fixed assets (approximation) | - | -€3.8m | -€262 | €0 | -€26,090 | - |
| Change in cash | - | €176,688 | -€345,113 | -€59,330 | €161,241 | ▲ 372% |
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
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21803C0393/00C000 | Brussels | 389 m² | 1 · 181 m² | 18.4 m · 6 fl. |
Linked by address, not proof of ownership
Structure & network
Owners and holdings
1 holding · 2 subsidiaries in the treeOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
100%
All subsidiaries, including indirect ones 2
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
FOREMOST IMMO 100%1 subsidiary
- LES ANCIENS THERMES 100%
According to the 2025 annual accounts of RLST and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Identification & contact
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.