RS Properties

Active

Public limited companyfounded 199036 yrs activeToernich, route de Virton 354, 6700 Arlon, BelgiumKBO/BCE: BE 0441.417.801

RS Properties has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-4.06M) and a net result of €-3.03M. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 20% of 489 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2024

35 / 100

Weak

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

Axes · tick = 2023

Profitability10▲+1

Solvency16▼-6

Growth32▼-20

Track record100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.11 against 0.01 in 2023; short-term debt: 86.6% and cash: 1.6% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

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

−lowers risk+raises risk○neutral

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

-9%

Return on assets

-6.8%

Age of the figures

21 mo

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Higher-failure-rate region

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

KBO · registered office

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 55

Relative position

BE, all sectors

reference

Sector 55

higher

← fewer bankruptcies more bankruptcies →

Negative equity

The 2024 annual accounts show negative equity and a net loss.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €-4.06M

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 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 · 10 filings

Deviation from the deadline

2025

not confirmed

2024

60 d late

2023

61 d late

2022

60 d late

2021

106 d late

2020

4 d early

2019

11 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

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-3.03M▼ 15.4%

2023 · €-2.63M

2018: €-508k 2019: €-289k 2020: €-961k 2021: €-947k 2022: €-1.96M 2023: €-2.63M

2018 → 2024

Working capital

€-34.52M▲ 0.1%

2023 · €-34.54M

2018: €-6.94M 2019: €-7.82M 2020: €-2.09M 2021: €-8.62M 2022: €-23.52M 2023: €-34.54M

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€4.51M-€3.56M▼ 21.0%€1.60M▼ 55.0%€-1.03M€-4.06M▼ 296%

Operating result€-876k-€-902k▼ 2.9%€-1.68M▼ 86.1%€-2.07M▼ 23.5%€-1.99M▲ 4.0%

Net result€-961k-€-947k▲ 1.5%€-1.96M▼ 107%€-2.63M▼ 34.1%€-3.03M▼ 15.4%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €1.99M in 2024 against €2.07M in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €44.88M

90.3%

10%

Fixed assets €40.55M▲ 20.4%

Current assets €4.34M▲ 1,579%

Key figures and ratios

2024 value · change against 2023

EBITDA

€-404k▲

2023 · €-922k

Cash flow

€-1.45M▲

2023 · €-1.48M

Solvency

-9.0%▼

2023 · -3.0%

Current ratio

0.11▲

2023 · 0.01

Quick ratio

0.11▲

2023 · 0.01

Debt / equity

-12.06▲

2023 · -34.07

ROA

-6.8%▲

2023 · -7.7%

Interest coverage

-0.38▲

2023 · -1.66

Debt

€48.94M▲

2023 · €34.95M

Debt ≤ 1 year

€38.86M▲

2023 · €34.80M

Debt > 1 year

€9.96M

Staff costs

€228k▲

2023 · €220k

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€33.93M€44.88M▲

Fixed assets21/28€33.67M€40.55M▲

Intangible fixed assets21€2k€1k▼

Tangible fixed assets22/27€33.66M€40.54M▲

Land and buildings22€33.52M€40.42M▲

Plant, machinery and equipment23€106k€77k▼

Furniture and vehicles24€30k€38k▲

Financial fixed assets28€8k€8k=

Current assets29/58€258k€4.34M▲

Amounts receivable within one year40/41€91k€3.60M▲

Trade receivables40€26k€2.00M▲

Other amounts receivable41€66k€1.59M▲

Cash at bank and in hand54/58€92k€716k▲

Deferred charges and accrued income490/1€75k€25k▼

Equity and liabilities

Total equity and liabilities10/49€33.93M€44.88M▲

Equity10/15€-1.03M€-4.06M▼

Contributions10/11€7.13M€7.13M=

Capital10€7.13M€7.13M=

Issued capital100€7.13M€7.13M=

Reserves13€13k€13k=

Non-distributable reserves130/1€13k€13k=

Legal reserve130€13k€13k=

Profit (loss) carried forward14€-8.16M€-11.20M▼

Amounts payable17/49€34.95M€48.94M▲

Amounts payable after more than one year17-€9.96M

Financial debts170/4-€9.96M

Amounts payable within one year42/48€34.80M€38.86M▲

Trade debts44€3.16M€1.72M▼

Suppliers440/4€3.16M€1.72M▼

Taxes, remuneration and social security45€14k€29k▲

Taxes450/3-€15k

Remuneration and social security454/9€14k€14k▲

Other amounts payable47/48€31.62M€37.11M▲

Accrued charges and deferred income492/3€153k€128k▼

Income statement Code20232024

Remuneration, social security and pensions62€220k€228k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.15M€1.58M▲

Other operating charges640/8€67k€140k▲

Gross operating margin9900€-635k€-36k▲

Operating profit (loss)9901€-2.07M€-1.99M▲

Financial income75/76B-€27k

Recurring financial income75-€27k

Financial charges65/66B€556k€1.07M▲

Recurring financial charges65€556k€1.07M▲

Profit (loss) for the period before taxes9903€-2.63M€-3.03M▼

Profit (loss) for the period9904€-2.63M€-3.03M▼

Profit (loss) for the period to be appropriated9905€-2.63M€-3.03M▼

Appropriation of the result

Profit (loss) to be appropriated9906€-8.16M€-11.20M▼

Profit (loss) brought forward from the previous period14P€-5.53M€-8.16M▼

Social balance

Average headcount (FTE)90873.73.5▼

The notes to these accounts (10 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 12Financial 2Filings 10

2025

29-09

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 60 days late

2024

31-12

Financial Weakest financial yearnet €-3.03M

Net result drops to €-3.03M, the lowest in the series.

30-09

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 61 days late

2023

29-09

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 60 days late

2022

14-11

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 106 days late

2021

27-07

NBB filing Annual accounts filed

fiscal year 2020 · full schema

2020

31-12

Financial Equity above €2MEq €4.51M

Equity rises from €-1.53M to €4.51M.

11-08

NBB filing Annual accounts filed

fiscal year 2019 · full schema · 11 days late

2019

27-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 27 days late

2018

31-08

NBB filing Annual accounts filed

fiscal year 2017 · full schema · 31 days late

2017

31-08

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 31 days late

2016

30-08

NBB filing Annual accounts filed

fiscal year 2015 · full schema · 30 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

13 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, Arlon · 1 establishment unit since 1990

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.

Toernich, route de Virton 3546700 Arlon

Ground area

8.8 ha

Building footprint

759 m²

Volume, LiDAR

4,950 m³