R.F. PROJECTS
ActiveR.F. PROJECTS has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €496k and a net result of €-12k. Equity is growing by ~57.5% per year across the filed fiscal years. Its solvency ranks better than 76% of 7447 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2024
69
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability67▼-33
Solvency91▲+23
Growth68▼-17
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 2.77 against 1.76 in 2023; short-term debt: 26.6% and cash: 1.9% of total assets), and 34.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · 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 2024Solvency, return and age of the figures
Solvency
65.6%
Return on assets
-1.6%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
30 d late
2022
23 d late
2021
30 d early
2020
13 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Turnover
€1.60M▲ 35.6%
2021 · €1.18M
2020: €1.03M
2021: €1.18M
2020 → 2022
EBIT margin
5.4%▲ 3.8pp
2021 · 1.6%
2020: 11.8%
2021: 1.6%
2020 → 2022
Net result
€-12k
2023 · €405k
2020: €80k
2021: €15k
2022: €57k
2023: €405k
2020 → 2024
Working capital
€356k▼ 16.6%
2023 · €427k
2020: €81k
2021: €49k
2022: €356k
2023: €427k
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€1.03M-€1.18M▲ 14.3%€1.60M▲ 35.6%
Equity€97k-€112k▲ 16.0%€169k▲ 51.0%€508k▲ 200%€496k▼ 2.3%
Operating result€122k-€18k▼ 85.0%€86k▲ 371%€591k▲ 584%€-244
Net result€80k-€15k▼ 80.8%€57k▲ 270%€405k▲ 610%€-12k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €244 after €591k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €757k
Fixed assets
€199k▼ 4.9%
Current assets
€558k▼ 43.4%
Equity and liabilities €757k
Equity
€496k▼ 2.3%
Debt
€261k▼ 62.1%
The debt ratio falls from 57.5% to 34.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€62k▼
2023 · €642k
Cash flow
€50k▼
2023 · €457k
Solvency
65.6%▲
2023 · 42.5%
Current ratio
2.77▲
2023 · 1.76
Quick ratio
2.12▲
2023 · 1.46
Debt / equity
0.53▼
2023 · 1.35
ROE
-2.4%▼
2023 · 79.8%
ROA
-1.6%▼
2023 · 33.9%
Interest coverage
9.57▼
2023 · 158.82
Debt
€261k▼
2023 · €687k
Debt ≤ 1 year
€201k▼
2023 · €559k
Debt > 1 year
€37k▲
2023 · €13k
Income taxes
€6k▼
2023 · €182k
Staff costs
€360k▼
2023 · €378k
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€1.20M€757k▼
Fixed assets21/28€210k€199k▼
Tangible fixed assets22/27€202k€192k▼
Land and buildings22-€20k
Plant, machinery and equipment23€69k€54k▼
Furniture and vehicles24€133k€61k▼
Leasing and similar rights25-€57k
Financial fixed assets28€8k€8k=
Current assets29/58€986k€558k▼
Stocks and contracts in progress3€170k€132k▼
Stocks30/36€170k€132k▼
Amounts receivable within one year40/41€241k€364k▲
Trade receivables40€79k€154k▲
Other amounts receivable41€162k€211k▲
Cash at bank and in hand54/58€542k€15k▼
Deferred charges and accrued income490/1€33k€47k▲
Equity and liabilities
Total equity and liabilities10/49€1.20M€757k▼
Equity10/15€508k€496k▼
Contributions10/11€2k€2k=
Reserves13€506k€506k=
Distributable reserves133€506k€506k=
Profit (loss) carried forward14€127€-12k▼
Amounts payable17/49€687k€261k▼
Amounts payable after more than one year17€13k€37k▲
Financial debts170/4€13k€37k▲
Amounts payable within one year42/48€559k€201k▼
Current portion of amounts payable after more than one year42€3k€14k▲
Financial debts43€150k-
Credit institutions430/8€150k-
Trade debts44€308k€145k▼
Suppliers440/4€308k€145k▼
Advances received on contracts in progress46€8k-
Taxes, remuneration and social security45€33k€42k▲
Taxes450/3€10k€18k▲
Remuneration and social security454/9€23k€24k▲
Other amounts payable47/48€57k€505▼
Accrued charges and deferred income492/3€115k€23k▼
Income statement
Code20232024
Non-recurring operating income76A€25k€7k▼
Remuneration, social security and pensions62€378k€360k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€52k€62k▲
Other operating charges640/8€4k€9k▲
Non-recurring operating charges66A-€18k
Gross operating margin9900€1.02M€449k▼
Operating profit (loss)9901€591k€-244▼
Financial income75/76B€640€910▲
Recurring financial income75€640€910▲
Financial charges65/66B€4k€6k▲
Recurring financial charges65€4k€6k▲
Profit (loss) for the period before taxes9903€587k€-6k▼
Income taxes67/77€182k€6k▼
Profit (loss) for the period9904€405k€-12k▼
Profit (loss) for the period to be appropriated9905€405k€-12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€406k€-12k▼
Profit (loss) brought forward from the previous period14P€127€127=
Transfer to equity691/2€339k-
To other reserves6921€339k-
Profit to be distributed694/7€67k-
Return on contributions (dividend)694€67k-
Social balance
Average headcount (FTE)90876.87.2▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
25-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet €-12k ▼103%
Net result drops to €-12k, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
31-12
Financial
Highest result since 2020net €405k ▲610%
Operating result €591k, net result €405k, both a record.
31-12
Financial
Equity above €500kEq €508k ▲200%
4 profitable years in a row build equity to €508k.
23-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 23 days late
2022
31-12
Financial
Equity above €150kEq €169k ▲51%
3 profitable years in a row build equity to €169k.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100kEq €112k ▲16%
2 profitable years in a row build equity to €112k.
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 13 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2026
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.
09-02-2026
Resigned as Director
Location & real-estate footprint
Registered office, Fernelmont · 1 establishment unit since 2016
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.
Grand-Route, Hing. 65380 FernelmontGround area
2,918 m²
Building footprint
172 m²
Parcel 92064A0057/00D006, Wallonia. Linked by address, not a title deed.
1 establishment unit
R.F. PROJECTS SRL
since 20162.256.176.349
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92064A0057/00D006 | Wallonia | 2,918 m² | 1 · 172 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 463 companies in sector 28250 we hold annual accounts for 285. 225 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded31-08-2016
Fiscal year end31-12
Activities, NACEBEL
28250Manufacture of machinery and equipment not elsewhere classified
43211General electrical installation work
33200Installation of industrial machinery and equipment
43212Electrical installation work in industrial facilities
43221Plumbing work
43222Installation of electric heating, air conditioning, cooling and ventilation
43230Insulation installation
43291Specialised construction activities
62900Other information technology and computer services
71121Engineering and related technical consultancy, excluding land surveyors
82990Other business support services
95210Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.