Summary
RSH is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €111,325 and a net result of €15,277. Equity has been growing by about 31% per year since 2019. Its solvency ranks better than 29% of 9,754 sector peers (NACE 64, financial year 2025). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 21-01-2019 Normal situation
- Activity
- Activities of holding companies NACE 64210and 5 others
- Establishment unit
- 2.285.961.683 3540 Herk-de-Stad, since 01-03-2019
- Financial year end
- 31 December
- Peppol
- Reachable since 12-07-2026
Board and ownership
Board
- Laurette RUELENSDirector · since 21-01-2019
- Roeland SCHOTSDirector · since 21-01-2019
- Holdings
- Shares in 3 companies including SCHOTS TECHNICS and TSC
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts 2025
- Profit
- €15,277
- ▼ 10.6%
- Equity
- €111,325
- ▲ 15.9%
- Total assets
- €436,409
- ▲ 4.1%
- 2025 accounts filed 25 days after the deadline
Signalsraises risk2025 accounts filed 25 days lateShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
1 signal.
raises risk
raises risk · 2025 accounts filed 25 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 25-08-2026, 25 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 7 filingsDeviation from the deadline
2025
25 days late
2024
28 days late
2023
28 days late
2022
28 days late
2021
31 days late
2020
27 days late
2019
38 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 29 days after the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 28 August (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
02-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 25 days after the deadline Filed on 25 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00452569.
Annual accounts 2025 filed on 25-08-2026 at the NBB all 7 filings
Equity
€111,325▲ 15.9%
2024 · €96,048
Net result
€15,277▼ 10.6%
2024 · €17,085
Total assets
€436,409▲ 4.1%
2024 · €419,362
Solvency
25.5%▲ 2.6pp
2024 · 22.9%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is 1% lower than in 2024 and the lowest since 2021. It is the fourth fall in a row.
Operating result€23,258
2025
Net result€15,277
2025
Total assets€436,409
2025
Equity€111,325
2025
Debt€325,085
2025
Working capital-€188,420
2025
Return on assets (ROA)3.5%
2025
Solvency25.5%
2025
Current ratio0.42
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€2,001-€17,342€28,371▲ 63.6%€28,336▼ 0.1%€27,416▼ 3.2%€23,600▼ 13.9%€23,258▼ 1.4%
Net result-€2,001-€13,527within the sector's middle half€20,959within the sector's middle half▲ 54.9%€20,483within the sector's middle half▼ 2.3%€19,795within the sector's middle half▼ 3.4%€17,085within the sector's middle half▼ 13.7%€15,277within the sector's middle half▼ 10.6%
Equity€4,199-€17,727below the sector's middle half▲ 322%€38,685below the sector's middle half▲ 118%€59,168below the sector's middle half▲ 52.9%€78,963within the sector's middle half▲ 33.5%€96,048within the sector's middle half▲ 21.6%€111,325within the sector's middle half▲ 15.9%
Total assets€56,518-€330,478within the sector's middle half▲ 485%€363,317within the sector's middle half▲ 9.9%€424,161below the sector's middle half▲ 16.7%€410,608within the sector's middle half▼ 3.2%€419,362within the sector's middle half▲ 2.1%€436,409within the sector's middle half▲ 4.1%
Debt€52,319-€312,751▲ 498%€324,632▲ 3.8%€364,993▲ 12.4%€331,645▼ 9.1%€323,314▼ 2.5%€325,085▲ 0.5%
Working capital-€40,546--€282,018below the sector's middle half▼ 596%-€261,060below the sector's middle half▲ 7.4%-€240,229below the sector's middle half▲ 8.0%-€220,782below the sector's middle half▲ 8.1%-€203,697below the sector's middle half▲ 7.7%-€188,420below the sector's middle half▲ 7.5%
Solvency7.4%-5.4%below the sector's middle half▼ 2.1pp10.6%below the sector's middle half▲ 5.3pp13.9%below the sector's middle half▲ 3.3pp19.2%below the sector's middle half▲ 5.3pp22.9%below the sector's middle half▲ 3.7pp25.5%within the sector's middle half▲ 2.6pp
Current ratio0.23-0.10below the sector's middle half▼ 0.130.20below the sector's middle half▲ 0.100.34below the sector's middle half▲ 0.150.33below the sector's middle half▼ 0.010.37below the sector's middle half▲ 0.040.42below the sector's middle half▲ 0.05
Return on assets (ROA)-3.5%-4.1%within the sector's middle half▲ 7.6pp5.8%within the sector's middle half▲ 1.7pp4.8%within the sector's middle half▼ 0.9pp4.8%within the sector's middle half=4.1%within the sector's middle half▼ 0.7pp3.5%within the sector's middle half▼ 0.6pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €436,409
Fixed assets
€299,745 =
Current assets
€136,664 ▲ 14.3%
Equity and liabilities €436,409
Equity
€111,325 ▲ 15.9%
Debt
€325,085 ▲ 0.5%
Debt's share of the balance-sheet total falls from 77.1% to 74.5%. Equity and debt are higher.
Key figures and ratios
ROE
13.7%▼
2024 · 17.8%
Debt ≤ 1 year
€325,085▲
2024 · €323,314
Income taxes
€7,276▲
2024 · €5,822
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | €124 | €62 | €62 | €62 | €462 | ▲ 645% |
| Gross operating margin9900 | -€2,001 | €17,342 | €28,495 | €28,398 | €27,478 | €23,662 | €23,720 | ▲ 0.2% |
| Operating profit (loss)9901 | -€2,001 | €17,342 | €28,371 | €28,336 | €27,416 | €23,600 | €23,258 | ▼ 1.4% |
| Financial income75/76B | - | - | €151 | €243 | €246 | €38 | - | - |
| Recurring financial income75 | - | €384 | €151 | €243 | €246 | €38 | - | - |
| Financial charges65/66B | - | - | €577 | €640 | €661 | €730 | €705 | ▼ 3.4% |
| Recurring financial charges65 | - | €357 | €577 | €640 | €661 | €730 | €705 | ▼ 3.4% |
| Profit (loss) for the period before taxes9903 | -€2,001 | €17,370 | €27,945 | €27,939 | €27,000 | €22,907 | €22,553 | ▼ 1.5% |
| Income taxes67/77 | - | €3,842 | €6,986 | €7,456 | €7,206 | €5,822 | €7,276 | ▲ 25.0% |
| Profit (loss) for the period9904 | -€2,001 | €13,527 | €20,959 | €20,483 | €19,795 | €17,085 | €15,277 | ▼ 10.6% |
| Profit (loss) for the period to be appropriated9905 | -€2,001 | €13,527 | €20,959 | €20,483 | €19,795 | €17,085 | €15,277 | ▼ 10.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €56,518 | €330,478 | €363,317 | €424,161 | €410,608 | €419,362 | €436,409 | ▲ 4.1% |
| Fixed assets21/28 | €44,745 | €299,745 | €299,745 | €299,745 | €299,745 | €299,745 | €299,745 | = |
| Financial fixed assets28 | €44,745 | €299,745 | €299,745 | €299,745 | €299,745 | €299,745 | €299,745 | = |
| Current assets29/58 | €11,773 | €30,733 | €63,572 | €124,417 | €110,863 | €119,617 | €136,664 | ▲ 14.3% |
| Amounts receivable within one year40/41 | €318 | €18,150 | €11,495 | €70,288 | €47,856 | €88,980 | €5,844 | ▼ 93.4% |
| Trade receivables40 | - | - | €11,495 | €35,695 | €47,795 | €87,725 | €4,195 | ▼ 95.2% |
| Other amounts receivable41 | - | - | - | €34,593 | €61 | €1,255 | €1,649 | ▲ 31.4% |
| Cash at bank and in hand54/58 | €11,455 | €12,583 | €52,077 | €54,129 | €63,007 | €30,637 | €130,241 | ▲ 325% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €580 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €56,518 | €330,478 | €363,317 | €424,161 | €410,608 | €419,362 | €436,409 | ▲ 4.1% |
| Equity10/15 | €4,199 | €17,727 | €38,685 | €59,168 | €78,963 | €96,048 | €111,325 | ▲ 15.9% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Contributions outside capital11 | - | - | €6,200 | - | €6,200 | - | - | - |
| Other1109/19 | - | - | €6,200 | - | €6,200 | - | - | - |
| Reserves13 | - | €11,527 | €32,485 | €52,968 | €72,763 | €89,848 | €105,125 | ▲ 17.0% |
| Distributable reserves133 | - | - | €32,485 | €52,968 | €72,763 | €89,848 | €105,125 | ▲ 17.0% |
| Profit (loss) carried forward14 | -€2,001 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €52,319 | €312,751 | €324,632 | €364,993 | €331,645 | €323,314 | €325,085 | ▲ 0.5% |
| Amounts payable within one year42/48 | €52,319 | €312,751 | €324,632 | €364,645 | €331,645 | €323,314 | €325,085 | ▲ 0.5% |
| Trade debts44 | - | €610 | - | €316 | €63 | €3,000 | €6,406 | ▲ 114% |
| Suppliers440/4 | - | - | - | €316 | €63 | €3,000 | €6,406 | ▲ 114% |
| Taxes, remuneration and social security45 | - | - | €12,197 | €17,380 | €19,208 | €8,681 | €3,003 | ▼ 65.4% |
| Taxes450/3 | - | - | €12,197 | €17,380 | €19,208 | €8,681 | €3,003 | ▼ 65.4% |
| Other amounts payable47/48 | - | - | €312,435 | €346,950 | €312,373 | €311,633 | €315,676 | ▲ 1.3% |
| Accrued charges and deferred income492/3 | - | - | - | €348 | - | - | €0 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,001 | €13,527 | €20,959 | €20,483 | €19,795 | €17,085 | €15,277 | ▼ 10.6% |
| Operating cash flow (approximation) | -€2,001 | €13,527 | €20,959 | €20,483 | €19,795 | €17,085 | €15,277 | ▼ 10.6% |
| Investment in fixed assets (approximation) | - | -€255,000 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €1,128 | €39,494 | €2,052 | €8,878 | -€32,370 | €99,604 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-08-2026 | 2026-00452569 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00446487 | |
| 31-12-2023 | micro format | 28-08-2024 | 2024-00435063 | |
| 31-12-2022 | abbreviated format | 28-08-2023 | 2023-00376248 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20425403 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-56800128 | |
| 31-12-2019 | abbreviated format | 07-09-2020 | 2020-51800183 |
Board & ownership
Directors
Directors
2 directors, last change in 2023
Laurette RUELENS
Current
Director (not named in the articles) · since 21-01-2019 · earlier manager, until 21-12-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 25-08-2026
Roeland SCHOTS
Current
Director (not named in the articles) · since 21-01-2019 · earlier manager, until 21-12-2023 · term without a fixed end · listed in the 2025 annual accounts, filed on 25-08-2026
Owners and capital
Owners
Mandate history
2 people, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Laurette RUELENS |
|
| Roeland SCHOTS |
|
Articles of association
Capital, shares and profit
- Kind of sharesThe articles set which classes of shares exist and what rights each class carries.
- “Alle aandelen op naam, aandeelhouders mogen kennis nemen betreffende hun effecten”
Audit, dissolution and liquidation
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Algemene vergadering in vormen statutenwijziging, 26”
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Één of meerdere vereffenaars aanduiden,bevoegdheden omlijnen,vergoeding bepalen, 27”
Articles of association, deed of 21-12-2023 (in Dutch)
Network & group
Holdings and subsidiaries
3 holdingsHoldings 3
Source for every holding own accounts 2025
- SCHOTS TECHNICSsubsidiaryEquity €2.7m Profit of €71,846 in 2025 (profit of €431,363 in 2024) Checked score 8899%
- TSCsubsidiaryEquity €661,563 Profit of €69,683 in 2025 (profit of €2,489 in 2024) Checked score 6680%
- Equity -€186,759 Loss of €77,390 in 2025 (loss of €1.3m in 2024) Checked score 3250%
Companies at the same address
1 other companyConnections & network
2 current directorsThe network starts from the directors of RSH. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
25-08
micro format · 25 days late
2025
31-12
Financial
Equity above €100,000equity €111,325 ▲15.9%
After 6 profitable years in a row, equity reaches €111,325.
28-08
micro format · 28 days late
2024
28-08
micro format · 28 days late
2023
21-12
Gazette deed
Changes of role: Roeland SCHOTS (director) and Laurette RUELENS (director)Capital conversion · Reserve release · Power of attorney15 points ▸
Gazette deed
Changes of role: Roeland SCHOTS (director) and Laurette RUELENS (director)
Capital conversion · Reserve release · Power of attorney15 points ▸
- General meeting, 16-12-2023
- Other provision, “aanpassing aan nieuw Wetboek van Vennootschappen en Verenigingen, statuten aanpassen aan WVV” (deed in Dutch)
- Capital conversion, “van rechtswege, artikel 39, §2, tweede lid wet van 23-03-2019” (deed in Dutch)
- Reserve release, “opheffing, statutair onbeschikbare eigen vermogensrekeningen aangelegd bij toepassing van artikel 39, §2, tweede lid wet van 23-03-2019” (deed in Dutch)
- Power of attorney
- Amendment of the articles
- Capital
- Director resignation, Roeland SCHOTS (manager)
- Director resignation, Laurette RUELENS (manager)
- Director discharge, Roeland SCHOTS
- Director discharge, Laurette RUELENS
- Director appointment, Roeland SCHOTS (director (not named in the articles))
- The act holds 3 more points.
28-08
abbreviated format · 28 days late
2022
31-08
micro format · 31 days late
2021
31-12
Financial
Highest result from 2019 to 2025net €20,959 ▲54.9%
The operating result of €28,371 and the net result of €20,959 are both a record.
27-08
micro format · 27 days late
2020
31-12
Financial
Back to profitnet €13,527
The net result is €13,527, after one loss-making year.
07-09
abbreviated format · 38 days late
2019
23-01
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
RSH in Dutch
Enterprise number
0718.924.309
Legal form
Private limited company
Status
Active, normale toestand
Founded
21-01-2019
Entity type
Legal entity
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest, bestuursorgaan”
deed of 21-12-2023 (in Dutch)Registered office and establishments
Registered office
Meerhoutstraat 5, 3540 Herk-de-Stad, Belgium
Establishment unit
RSH, Meerhoutstraat 5, 3540 Herk-de-Stad since 01-03-2019 · unit number 2.285.961.683
E-mail
roeland.schots@awbschots.euHerk-de-Stad
Activities
NACEBEL 202564210
Activities of holding companies main activity
68110
Buying and selling of own real estate
68203
Renting and operating of own or leased non-residential real estate, excluding land
70200
Business and other management consultancy
73300
Public relations and communication consultancy
82990
Other business support services
Codes under NACEBEL 2008
64200
Holdings main activity
68100
Real estate activities
68203
Real estate rental
70210
Activities of head offices; management consultancy activities
70220
Business consulting
82990
Other business support services
PurposeThe purpose describes the activities the company may carry out under its articles.
deed of 21-12-2023 (in Dutch)
“Onderneming in onroerende goederen, welke onder meer omvat: de verwerving, de vervreemding, het beheer, de borgstelling, de uitbating, de…”
6 activities
- Onderneming in onroerende goederen, welke onder meer omvat: de verwerving, de vervreemding, het beheer, de borgstelling, de uitbating, de valorisatie, de verkaveling, de ordening, de huur en de verhuur, het doen bouwen en verbouwen, evenals alle welkdanige onroerende verhandelingen in de meest brede zin, met inbegrip van onroerende leasing;
- Onderneming voor het beheer van eigen beleggingen en vermogens;
- De participatie onder welke vorm het ook zij, in de oprichting, ontwikkeling, omvorming en controle van alle ondernemingen, Belgische of buitenlandse, commerciële, financiële, industriële of andere; de verwerving voor eigen rekening van eender welke titels of rechten door middel van participatie, inbreng, onderschrijving, koop op vaste levering of aankoopopties, verhandeling, of op iedere andere wijze;
- Consultancy en adviesverlening op het gebied van bedrijfsvoering en bedrijfsbeheer;
- Het verlenen van advies, management, consultancy, het maken van expertises, het geven van onderricht, onderwijs, enzovoort met betrekking tot al de voorgaande activiteiten;
- De vennootschap kan de functie van bestuurder, directeur of vereffenaar van andere vennootschappen uitoefenen.
Invoicing and payment
VAT number
BE 0718.924.309
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Wednesday of June at 20:00
deed of 21-12-2023 (in Dutch)Sites & property
Location
Buildings and parcels at the address
Ground area
1,218 m²
Building footprint
164 m²
Building volume
1,026 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 71012A0196/00D000 | Flanders | 1,218 m² | 1 · 164 m² | 8.1 m · 2 |