RECAM
ActiveRECAM has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €428k and a net result of €-84k. Equity is growing by ~13.3% per year across the filed fiscal years. Its solvency ranks better than 51% of 375 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
58
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability35▼-38
Solvency62▼-4
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €24k at 30 days acceptable
Liquidity short (current ratio 0.33 against 0.41 in 2024; short-term debt: 47.3% and cash: 3.3% of total assets), and 62.6% of the assets are financed with debt.
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
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · 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 →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-08-2026, 19 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 filingsDeviation from the deadline
2025
19 d late
2024
14 d late
2023
1 d late
2022
13 d early
2021
5 d early
2020
5 d late
2019
7 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-84k
2024 · €36k
2018: €130k
2019: €44k
2020: €82k
2021: €84k
2022: €41k
2023: €27k
2024: €36k
2018 → 2025
Working capital
€-364k▼ 12.6%
2024 · €-323k
2018: €-545k
2019: €-620k
2020: €-580k
2021: €-407k
2022: €-415k
2023: €-417k
2024: €-323k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€377k-€413k▲ 9.6%€435k▲ 5.3%€486k▲ 11.6%€428k▼ 11.9%
Operating result€71k-€43k▼ 40.1%€27k▼ 36.4%€29k▲ 6.8%€-86k
Net result€84k-€41k▼ 51.3%€27k▼ 35.3%€36k▲ 34.1%€-84k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €86k after €29k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.14M
Fixed assets
€968k▲ 1.1%
Current assets
€177k▼ 20.1%
Equity and liabilities €1.14M
Equity
€428k▼ 11.9%
Provisions
€24k▲ 58.1%
Debt
€693k▲ 2.2%
The debt ratio rises from 57.5% to 60.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€48k▼
2024 · €152k
Cash flow
€50k▼
2024 · €158k
Solvency
37.4%▼
2024 · 41.2%
Current ratio
0.33▼
2024 · 0.41
Quick ratio
0.15▼
2024 · 0.25
Debt / equity
1.62▲
2024 · 1.40
ROE
-19.7%▼
2024 · 7.3%
ROA
-7.4%▼
2024 · 3.0%
Interest coverage
3.08▼
2024 · 15.91
Debt
€693k▲
2024 · €678k
Debt ≤ 1 year
€541k▼
2024 · €545k
Debt > 1 year
€151k▲
2024 · €132k
Income taxes
€49▼
2024 · €56
Staff costs
€269k▲
2024 · €262k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€1.18M€1.14M▼
Fixed assets21/28€957k€968k▲
Tangible fixed assets22/27€952k€963k▲
Land and buildings22€448k€451k▲
Plant, machinery and equipment23€466k€491k▲
Furniture and vehicles24€39k€20k▼
Financial fixed assets28€5k€5k▲
Current assets29/58€222k€177k▼
Stocks and contracts in progress3€84k€94k▲
Stocks30/36€84k€94k▲
Amounts receivable within one year40/41€44k€41k▼
Trade receivables40€21k€19k▼
Other amounts receivable41€22k€22k=
Cash at bank and in hand54/58€91k€38k▼
Deferred charges and accrued income490/1€4k€4k▲
Equity and liabilities
Total equity and liabilities10/49€1.18M€1.14M▼
Equity10/15€486k€428k▼
Contributions10/11€500k€500k=
Capital10€500k€500k=
Issued capital100€500k€500k=
Revaluation surpluses12€46k€46k=
Reserves13€50k€50k=
Non-distributable reserves130/1€50k€50k=
Legal reserve130€50k€50k=
Profit (loss) carried forward14€-156k€-240k▼
Investment grants15€46k€72k▲
Provisions and deferred taxes16€15k€24k▲
Deferred taxes168€15k€24k▲
Amounts payable17/49€678k€693k▲
Amounts payable after more than one year17€132k€151k▲
Financial debts170/4€132k€151k▲
Amounts payable within one year42/48€545k€541k▼
Current portion of amounts payable after more than one year42€72k€77k▲
Financial debts43€37€49▲
Credit institutions430/8€37€49▲
Trade debts44€14k€39k▲
Suppliers440/4€14k€39k▲
Taxes, remuneration and social security45€56k€52k▼
Taxes450/3€4k€7k▲
Remuneration and social security454/9€52k€46k▼
Other amounts payable47/48€402k€372k▼
Accrued charges and deferred income492/3€211€211=
Income statement
Code20242025
Remuneration, social security and pensions62€262k€269k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€123k€134k▲
Other operating charges640/8€17k€24k▲
Gross operating margin9900€431k€341k▼
Operating profit (loss)9901€29k€-86k▼
Financial income75/76B€13k€14k▲
Recurring financial income75€13k€14k▲
Financial charges65/66B€10k€16k▲
Recurring financial charges65€10k€16k▲
Profit (loss) for the period before taxes9903€32k€-88k▼
Transfer from deferred taxes780€4k€4k▲
Income taxes67/77€56€49▼
Profit (loss) for the period9904€36k€-84k▼
Profit (loss) for the period to be appropriated9905€36k€-84k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-156k€-240k▼
Profit (loss) brought forward from the previous period14P€-191k€-156k▲
Social balance
Average headcount (FTE)90876.65.4▼
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
19-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 19 days late
2025
31-12
Financial
Weakest financial yearnet €-84k ▼336%
Net result drops to €-84k, the lowest in the series.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 14 days late
2024
01-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 1 day late
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
26-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
05-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 5 days late
2020
31-12
Financial
Equity above €200kEq €267k ▲42.7%
3 profitable years in a row build equity to €267k.
07-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 7 days late
2019
31-12
Financial
Equity above €150kEq €187k ▲28.5%
2 profitable years in a row build equity to €187k.
06-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 6 days late
2018
27-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
26-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Durbuy · 1 establishment unit since 1991
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 des Comtes du Luxembourg 416940 DurbuyGround area
9,446 m²
Building footprint
1,379 m²
Parcel 83012A0550/00A002, Wallonia. Linked by address, not a title deed.
1 establishment unit
TROPICAL HOTEL
since 19912.022.750.007
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 83012A0550/00A002 | Wallonia | 9,446 m² | 1 · 1,379 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteDurbuy2.022.750.007
Similar companies · same sector, comparable size
Domaine du Pont d'Oye
BE 0405.797.718
Habay · Eq €428k
Aux Beaux Rivages
BE 0460.549.862
Florenville · Eq €428k
ERGES
BE 0440.879.846
Ternat · Eq €427k
WIJNGAETSHEIDE
BE 0878.319.261
Zonhoven · Eq €430k
COMADAZA
BE 0750.969.446
Ukkel · Eq €426k
Of 2,395 companies in sector 55100 we hold annual accounts for 1,516. 1,093 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded15-07-1983
Fiscal year end31-12
Activities, NACEBEL
55100Hotels and similar accommodation
55101Hotels
55401
56301Cafés and bars
Sources
Crossroads Bank for EnterprisesNational Bank · 42 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.