RS Construction
ActiveSummary
RS Construction has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €442k and a net result of €342k. Equity is growing by ~37.2% per year across the filed fiscal years. Its solvency ranks better than 29% of 7838 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability95▲+6
Solvency52▼-20
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity tight (current ratio 1.3 against 1.79 in 2024; short-term debt: 72.7% and cash: 31% of total assets), and 72.8% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
27.2%
Return on assets
21.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 8 filingsDeviation from the deadline
2025
27 d late
2024
27 d early
2023
40 d early
2022
75 d early
2020
30 d late
2019
88 d late
2018
64 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€0
EBIT margin
Not included in this filing
Net result
€342k▲ 98.1%
2024 · €173k
Working capital
€358k▼ 18.6%
2024 · €440k
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202022202320242025
Turnover
Operating result€-18k€223k-€308k▲ 38.3%€226k▼ 26.6%€451k▲ 99.8%
Net result€-19k€163k-€226k▲ 38.7%€173k▼ 23.7%€342k▲ 98.1%
Equity€58k▼ 25.0%€171k-€327k▲ 91.1%€500k▲ 52.9%€442k▼ 11.5%
Total assets€281k▼ 32.0%€642k-€672k▲ 4.7%€1.07M▲ 58.4%€1.63M▲ 52.6%
Debt€223k▼ 33.6%€472k-€346k▼ 26.7%€566k▲ 63.6%€1.18M▲ 109%
Working capital€29k▼ 38.8%€108k-€279k▲ 158%€440k▲ 58.0%€358k▼ 18.6%
Staff (FTE)0.7
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 100% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.63M
Fixed assets
€86k ▲ 29.9%
Current assets
€1.54M ▲ 54.1%
Equity and liabilities €1.63M
Equity
€442k ▼ 11.5%
Debt
€1.18M ▲ 109%
Debt's share of the balance-sheet total rises from 53.1% to 72.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€477k▲
2024 · €248k
Cash flow
€368k▲
2024 · €195k
Current ratio
1.30▼
2024 · 1.79
Debt to equity
2.68▲
2024 · 1.13
ROE
77.5%▲
2024 · 34.6%
ROA
21.1%▲
2024 · 16.2%
Interest coverage
106.78▲
2024 · 66.89
Debt ≤ 1 year
€1.18M▲
2024 · €559k
Income taxes
€121k▲
2024 · €60k
Staff costs
€39k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €39k | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €13k | €36k | €22k | €26k | ▲ 14.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €66k | €-41k | ▼ 161% |
| Other operating charges640/8 | - | €11k | €5k | €5k | €9k | ▲ 62.8% |
| Gross operating margin9900 | €-9k | €247k | €349k | €320k | €484k | ▲ 51.1% |
| Operating profit (loss)9901 | €-18k | €223k | €308k | €226k | €451k | ▲ 99.8% |
| Financial income75/76B | - | €2k | €11k | €10k | €17k | ▲ 60.2% |
| Recurring financial income75 | €1k | €2k | €11k | €10k | €17k | ▲ 60.2% |
| Financial charges65/66B | - | €8k | €7k | €4k | €4k | ▲ 20.3% |
| Recurring financial charges65 | €2k | €8k | €7k | €4k | €4k | ▲ 20.3% |
| Profit (loss) for the period before taxes9903 | €-19k | €216k | €312k | €232k | €463k | ▲ 99.3% |
| Income taxes67/77 | €225 | €53k | €86k | €60k | €121k | ▲ 103% |
| Profit (loss) for the period9904 | €-19k | €163k | €226k | €173k | €342k | ▲ 98.1% |
| Profit (loss) for the period to be appropriated9905 | €-19k | €163k | €226k | €173k | €342k | ▲ 98.1% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €281k | €642k | €672k | €1.07M | €1.63M | ▲ 52.6% |
| Fixed assets21/28 | €29k | €67k | €52k | €66k | €86k | ▲ 29.9% |
| Tangible fixed assets22/27 | €14k | €66k | €51k | €66k | €86k | ▲ 29.9% |
| Plant, machinery and equipment23 | - | €52k | €44k | €29k | €27k | ▼ 6.6% |
| Furniture and vehicles24 | - | €15k | €7k | €37k | €56k | ▲ 51.2% |
| Other tangible fixed assets26 | - | - | - | - | €3k | - |
| Financial fixed assets28 | €15k | €1k | €1k | €0 | - | - |
| Current assets29/58 | €252k | €575k | €621k | €999k | €1.54M | ▲ 54.1% |
| Amounts receivable within one year40/41 | €116k | €357k | €308k | €701k | €1.03M | ▲ 47.4% |
| Trade receivables40 | - | €274k | €197k | €611k | €956k | ▲ 56.6% |
| Other amounts receivable41 | - | €84k | €110k | €91k | €78k | ▼ 14.4% |
| Cash at bank and in hand54/58 | €136k | €213k | €284k | €240k | €504k | ▲ 110% |
| Deferred charges and accrued income490/1 | - | €5k | €29k | €57k | €3k | ▼ 94.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €281k | €642k | €672k | €1.07M | €1.63M | ▲ 52.6% |
| Equity10/15 | €58k | €171k | €327k | €500k | €442k | ▼ 11.5% |
| Contributions10/11 | - | €12k | €12k | €12k | €12k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | €0 | - | - | - | - |
| Distributable reserves133 | - | €2k | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €43k | €157k | €312k | €485k | €428k | ▼ 11.9% |
| Amounts payable17/49 | €223k | €472k | €346k | €566k | €1.18M | ▲ 109% |
| Amounts payable within one year42/48 | €223k | €467k | €342k | €559k | €1.18M | ▲ 111% |
| Trade debts44 | €115k | €311k | €155k | €524k | €724k | ▲ 38.1% |
| Suppliers440/4 | - | €311k | €155k | €524k | €724k | ▲ 38.1% |
| Taxes, remuneration and social security45 | - | €43k | €86k | €10k | €41k | ▲ 306% |
| Taxes450/3 | - | €43k | €86k | €10k | €34k | ▲ 235% |
| Remuneration and social security454/9 | - | - | - | - | €7k | - |
| Other amounts payable47/48 | - | €113k | €102k | €25k | €417k | ▲ 1,572% |
| Accrued charges and deferred income492/3 | - | €5k | €4k | €7k | €2k | ▼ 73.3% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-19k | €163k | €226k | €173k | €342k | ▲ 98.1% |
| + Depreciation and write-downs630 | €7k | €13k | €36k | €22k | €26k | ▲ 14.6% |
| Operating cash flow (approximation) | €-12k | €177k | €263k | €195k | €368k | ▲ 88.5% |
| Investment in fixed assets (approximation) | - | - | €-21k | €-37k | €-45k | ▼ 24.1% |
| Change in cash | - | - | €72k | €-44k | €263k | ▲ 701% |
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
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
31-12
Financial
Highest result since 2018net €342k ▲98.1%
Operating result €451k, net result €342k, both a record.
04-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €200kEq €327k ▲91.1%
2 profitable years in a row build equity to €327k.
2022
17-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Back to profitnet €163k
Net result €163k after one loss-making year.
30-06
Financial
Equity above €150kEq €171k ▲196%
Equity rises from €58k to €171k.
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €-19k
Net result drops to €-19k, the lowest in the series; recovery starts the following year.
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 88 days late
2019
28-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Liège · 1 establishment unit since 2017
Ground area
2.8 ha
Building footprint
324 m²
Parcel 62023B0133/00D002, Wallonia. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
Rue de la Révision 93, 4032 Liège
since 20172.264.129.557
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62023B0133/00D002 | Wallonia | 2.8 ha | 1 · 324 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
13 categoriesRS Construction SRL40300
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Of 15,521 companies in sector 43990 we hold annual accounts for 7,414. 4,775 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-02-2017
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
43990Other specialised construction activities
24200Manufacture of basic metals
33120Repair and maintenance of machinery
43130Specialised construction activities
43320Joinery installation
Scores and ratios are computed by Checked and are not a credit decision.