RN LIEGE

Active

Private limited companyfounded 201510 yrs activeRue Sainte-Marie 5, 4000 Liège, BelgiumKBO/BCE: BE 0644.895.887

RN LIEGE has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €493k and a net result of €264k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 20% of 4809 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).

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Checked score

Score 2024

60 / 100

Healthy

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability61▲+1

Solvency27▲+1

Growth85=

Track record100

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €25k at 30 days acceptable

Liquidity ample (current ratio 2.57 against 2.15 in 2023; short-term debt: 3.6% and cash: 0.3% of total assets), but 97.7% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Seven signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

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

Sector 68

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

2.3%

Return on assets

1.2%

Age of the figures

21 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 4809 sector peers (2024).

NBB · sector comparison

Position among 4809 sector peers

Solvency

better than 20%

← weakest strongest →

Growing equity

Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €493k

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.

NBB · 9 filings

Deviation from the deadline

2025

not confirmed

2024

37 d early

2023

50 d early

2022

48 d early

2021

24 d early

2020

18 d early

2019

55 d late

← before the deadline after the deadline →

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

Financials · fiscal year 2024, full schema

Turnover

€1.72M▲ 4.5%

2023 · €1.65M

2018: €41k 2019: €630k 2020: €1.41M 2021: €1.47M 2022: €1.54M 2023: €1.65M

2018 → 2024

EBIT margin

54.8%▲ 1.8pp

2023 · 53.0%

2018: -120.0% 2019: 8.3% 2020: 49.8% 2021: 47.9% 2022: 50.2% 2023: 53.0%

2018 → 2024

Net result

€264k▲ 22.0%

2023 · €216k

2018: €-81k 2019: €-269k 2020: €7k 2021: €17k 2022: €91k 2023: €216k

2018 → 2024

Working capital

€1.22M▲ 47.0%

2023 · €828k

2018: €-18.70M 2019: €-481k 2020: €131k 2021: €272k 2022: €488k 2023: €828k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Turnover€1.41M-€1.47M▲ 4.4%€1.54M▲ 4.6%€1.65M▲ 7.2%€1.72M▲ 4.5%

Equity€-95k-€-78k▲ 17.9%€13k€230k▲ 1,623%€493k▲ 115%

Operating result€701k-€703k▲ 0.3%€772k▲ 9.7%€873k▲ 13.2%€942k▲ 7.9%

Net result€7k-€17k▲ 153%€91k▲ 438%€216k▲ 137%€264k▲ 22.0%

Result per fiscal year

Operating resultNet result

The operating result has risen four years in a row; 2024 is 8% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €21.84M

90.9%

Fixed assets €19.85M▼ 3.3%

Current assets €1.99M▲ 28.6%

Equity and liabilities €21.84M

97.7%

Equity €493k▲ 115%

Debt €21.35M▼ 2.3%

The debt ratio falls from 99.0% to 97.7%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€1.63M▲

2023 · €1.56M

Cash flow

€952k▲

2023 · €904k

Solvency

2.3%▲

2023 · 1.0%

Current ratio

2.57▲

2023 · 2.15

Quick ratio

2.57▲

2023 · 2.15

Debt / equity

43.26▼

2023 · 95.21

ROE

53.5%▼

2023 · 94.2%

ROA

1.2%▲

2023 · 1.0%

Interest coverage

2.47▲

2023 · 2.34

Debt

€21.35M▼

2023 · €21.85M

Debt ≤ 1 year

€775k▲

2023 · €722k

Debt > 1 year

€20.29M▼

2023 · €20.85M

Income taxes

€59k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€22.08M€21.84M▼

Formation expenses20€0€0=

Fixed assets21/28€20.53M€19.85M▼

Tangible fixed assets22/27€20.53M€19.85M▼

Land and buildings22€20.53M€19.85M▼

Current assets29/58€1.55M€1.99M▲

Amounts receivable within one year40/41€480k€496k▲

Trade receivables40€477k€493k▲

Other amounts receivable41€3k€3k=

Current investments50/53€1.00M€1.43M▲

Cash at bank and in hand54/58€51k€56k▲

Deferred charges and accrued income490/1€18k€15k▼

Equity and liabilities

Total equity and liabilities10/49€22.08M€21.84M▼

Equity10/15€230k€493k▲

Contributions10/11€350k€350k=

Profit (loss) carried forward14€-120k€143k▲

Amounts payable17/49€21.85M€21.35M▼

Amounts payable after more than one year17€20.85M€20.29M▼

Financial debts170/4€20.85M€20.29M▼

Amounts payable within one year42/48€722k€775k▲

Current portion of amounts payable after more than one year42€560k€560k=

Trade debts44€162k€169k▲

Suppliers440/4€162k€169k▲

Taxes, remuneration and social security45-€47k

Taxes450/3-€47k

Accrued charges and deferred income492/3€283k€280k▼

Income statement Code20232024

Turnover70€1.65M€1.72M▲

Goods, raw materials, services and sundry goods60/61€12k€13k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€688k€688k=

Other operating charges640/8€74k€76k▲

Gross operating margin9900€1.63M€1.71M▲

Operating profit (loss)9901€873k€942k▲

Financial income75/76B€11k€42k▲

Recurring financial income75€11k€42k▲

Financial charges65/66B€668k€661k▼

Recurring financial charges65€668k€661k▼

Profit (loss) for the period before taxes9903€216k€323k▲

Income taxes67/77-€59k

Profit (loss) for the period9904€216k€264k▲

Profit (loss) for the period to be appropriated9905€216k€264k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-120k€143k▲

Profit (loss) brought forward from the previous period14P€-337k€-120k▲

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 14Financial 4Gazette 1Filings 9

2026

31-07

State Gazette act Resignations & appointments

Permanent representative1 fact ▸

Permanent representative, Sarah Dupuis

2025

24-06

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

31-12

Financial Highest result since 2018net €264k ▲22%

Operating result €942k, net result €264k, both a record.

11-06

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Equity above €200kEq €230k ▲1623%

4 profitable years in a row build equity to €230k.

13-06

NBB filing Annual accounts filed

fiscal year 2022 · full schema

2022

07-07

NBB filing Annual accounts filed

fiscal year 2021 · full schema

2021

13-07

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

31-12

Financial Back to profitnet €7k

Net result €7k after 2 loss-making years.

24-09

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 55 days late

2019

31-12

Financial Weakest financial yearnet €-269k

Net result drops to €-269k, the lowest in the series; recovery starts the following year.

07-06

NBB filing Annual accounts filed

fiscal year 2018 · full schema

2018

31-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 31 days late

2017

08-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 8 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2023

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

09-06-2023 SACRE Michaël: Resigned as Director

09-06-2023 STRUMAN Guillaume: Resigned as Director

09-08-2021 Hervé Valkeners: Resigned as Director

29-07-2019 Pierre Buck: Resigned as Managing director

29-07-2019 Renaud Jamar de Bolsée: Resigned as Managing director

Location & real-estate footprint

Registered office, Liège · 1 establishment unit since 2016

establishment The establishment unit on the map

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.

Rue Sainte-Marie 54000 Liège

Ground area