REFOX
ActiveSummary
REFOX has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1 and a net result of €48k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 12738 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability93▼-2
Solvency25▼-21
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
0%
Return on assets
19.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 12738 sector peers (2025).
NBB · sector comparisonPosition among 12738 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-04-2026, 93 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
93 d early
2024
28 d late
2023
30 d late
2022
30 d late
2021
22 d late
2020
96 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, micro schema
Equity
€1▼ 100.0%
2024 · €53k
2020: €40k
2021: €65k▲ +63.4% vs 2020
2022: €97k▲ +50.0% vs 2021highest in 6 years
2023: €1▼ -100.0% vs 2022lowest in 6 years
2024: €53k▲ +5341589% vs 2023
2025: €1▼ -100.0% vs 2024lowest in 6 years
2020 → 2025
Total assets
€249k▼ 3.9%
2024 · €259k
2020: €56klowest in 6 years
2021: €248k▲ +342% vs 2020
2022: €273k▲ +10.2% vs 2021
2023: €311k▲ +13.9% vs 2022highest in 6 years
2024: €259k▼ -16.9% vs 2023
2025: €249k▼ -3.9% vs 2024
2020 → 2025
Net result
€48k▼ 10.1%
2024 · €53k
2020: €40k
2021: €25k▼ -36.6% vs 2020lowest in 6 years
2022: €32k▲ +28.8% vs 2021
2023: €35k▲ +7.2% vs 2022
2024: €53k▲ +54.1% vs 2023highest in 6 years
2025: €48k▼ -10.1% vs 2024
2020 → 2025
Working capital
€-85k▼ 191%
2024 · €-29k
2020: €40k
2021: €10k▼ -75.3% vs 2020
2022: €42k▲ +330% vs 2021highest in 6 years
2023: €-84k▼ -301% vs 2022
2024: €-29k▲ +65.2% vs 2023
2025: €-85k▼ -191% vs 2024lowest in 6 years
2020 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€65k-€97k▲ 50.0%€1▼ 100.0%€53k▲ 5,341,589%€1▼ 100.0%
2021: €65k
2022: €97k▲ +50.0% vs 2021highest in 5 years
2023: €1▼ -100.0% vs 2022lowest in 5 years
2024: €53k▲ +5341589% vs 2023
2025: €1▼ -100.0% vs 2024lowest in 5 years
Operating result€33k-€48k▲ 47.2%€51k▲ 6.7%€76k▲ 47.8%€68k▼ 10.0%
2021: €33klowest in 5 years
2022: €48k▲ +47.2% vs 2021
2023: €51k▲ +6.7% vs 2022
2024: €76k▲ +47.8% vs 2023highest in 5 years
2025: €68k▼ -10.0% vs 2024
Net result€25k-€32k▲ 28.8%€35k▲ 7.2%€53k▲ 54.1%€48k▼ 10.1%
2021: €25klowest in 5 years
2022: €32k▲ +28.8% vs 2021
2023: €35k▲ +7.2% vs 2022
2024: €53k▲ +54.1% vs 2023highest in 5 years
2025: €48k▼ -10.1% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 10% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €249k
Fixed assets
€195k ▼ 3.8%
Current assets
€54k ▼ 3.9%
Equity and liabilities €249k
Equity
€1 ▼ 100.0%
Debt
€249k ▲ 21.2%
Debt's share of the balance-sheet total rises from 79.3% to 100.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€81k▼
2024 · €88k
Cash flow
€60k▼
2024 · €65k
Current ratio
0.39▼
2024 · 0.66
ROA
19.3%▼
2024 · 20.7%
Interest coverage
25.70▲
2024 · 24.12
Debt ≤ 1 year
€139k▲
2024 · €85k
Debt > 1 year
€110k▼
2024 · €120k
Income taxes
€17k▼
2024 · €19k
Equity ratios withheld: equity of €1 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 40 lines
Balance sheet
Code20242025
Assets
Total assets20/58€259k€249k▼
Fixed assets21/28€203k€195k▼
Tangible fixed assets22/27€203k€195k▼
Land and buildings22€203k€194k▼
Furniture and vehicles24-€1k
Current assets29/58€56k€54k▼
Amounts receivable within one year40/41€2k€36k▲
Trade receivables40-€36k
Other amounts receivable41€2k€180▼
Cash at bank and in hand54/58€54k€18k▼
Equity and liabilities
Total equity and liabilities10/49€259k€249k▼
Equity10/15€53k€1▼
Contributions10/11€1€1=
Profit (loss) carried forward14€53k-
Amounts payable17/49€205k€249k▲
Amounts payable after more than one year17€120k€110k▼
Financial debts170/4€120k€110k▼
Amounts payable within one year42/48€85k€139k▲
Current portion of amounts payable after more than one year42€10k€10k▲
Trade debts44€2k€1k▼
Suppliers440/4€2k€1k▼
Taxes, remuneration and social security45€16k€20k▲
Taxes450/3€16k€20k▲
Other amounts payable47/48€57k€107k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€12k▲
Other operating charges640/8€1k€2k▲
Gross operating margin9900€90k€82k▼
Operating profit (loss)9901€76k€68k▼
Financial income75/76B€34€127▲
Recurring financial income75€34€127▲
Financial charges65/66B€4k€3k▼
Recurring financial charges65€4k€3k▼
Profit (loss) for the period before taxes9903€72k€65k▼
Income taxes67/77€19k€17k▼
Profit (loss) for the period9904€53k€48k▼
Profit (loss) for the period to be appropriated9905€53k€48k▼
Appropriation of the result
Profit (loss) to be appropriated9906€53k€101k▲
Profit (loss) brought forward from the previous period14P-€53k
Profit to be distributed694/7-€101k
Return on contributions (dividend)694-€101k
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4k | €10k | €11k | €12k | €12k | ▲ 1.0% |
| Other operating charges640/8 | €1k | €4k | €2k | €1k | €2k | ▲ 8.0% |
| Gross operating margin9900 | €38k | €62k | €65k | €90k | €82k | ▼ 8.2% |
| Operating profit (loss)9901 | €33k | €48k | €51k | €76k | €68k | ▼ 10.0% |
| Financial income75/76B | €32 | €0 | €0 | €34 | €127 | ▲ 276% |
| Recurring financial income75 | €32 | €0 | €0 | €34 | €127 | ▲ 276% |
| Financial charges65/66B | €294 | €3k | €4k | €4k | €3k | ▼ 14.1% |
| Recurring financial charges65 | €294 | €3k | €4k | €4k | €3k | ▼ 14.1% |
| Profit (loss) for the period before taxes9903 | €32k | €45k | €48k | €72k | €65k | ▼ 9.7% |
| Income taxes67/77 | €7k | €13k | €13k | €19k | €17k | ▼ 8.6% |
| Profit (loss) for the period9904 | €25k | €32k | €35k | €53k | €48k | ▼ 10.1% |
| Profit (loss) for the period to be appropriated9905 | €25k | €32k | €35k | €53k | €48k | ▼ 10.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €248k | €273k | €311k | €259k | €249k | ▼ 3.9% |
| Fixed assets21/28 | €205k | €195k | €215k | €203k | €195k | ▼ 3.8% |
| Tangible fixed assets22/27 | €205k | €195k | €215k | €203k | €195k | ▼ 3.8% |
| Land and buildings22 | €197k | €195k | €215k | €203k | €194k | ▼ 4.4% |
| Furniture and vehicles24 | €8k | - | - | - | €1k | - |
| Current assets29/58 | €43k | €78k | €96k | €56k | €54k | ▼ 3.9% |
| Amounts receivable within one year40/41 | €6k | €347 | €2k | €2k | €36k | ▲ 1,551% |
| Trade receivables40 | - | - | - | - | €36k | - |
| Other amounts receivable41 | €6k | €347 | €2k | €2k | €180 | ▼ 91.7% |
| Cash at bank and in hand54/58 | €37k | €78k | €94k | €54k | €18k | ▼ 66.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €248k | €273k | €311k | €259k | €249k | ▼ 3.9% |
| Equity10/15 | €65k | €97k | €1 | €53k | €1 | ▼ 100.0% |
| Contributions10/11 | €1 | €1 | €1 | €1 | €1 | = |
| Profit (loss) carried forward14 | €65k | €97k | - | €53k | - | - |
| Amounts payable17/49 | €183k | €176k | €311k | €205k | €249k | ▲ 21.2% |
| Amounts payable after more than one year17 | €150k | €140k | €130k | €120k | €110k | ▼ 8.6% |
| Financial debts170/4 | €150k | €140k | €130k | €120k | €110k | ▼ 8.6% |
| Amounts payable within one year42/48 | €33k | €36k | €181k | €85k | €139k | ▲ 63.2% |
| Current portion of amounts payable after more than one year42 | €10k | €10k | €10k | €10k | €10k | ▲ 1.2% |
| Trade debts44 | - | €2k | €2k | €2k | €1k | ▼ 44.9% |
| Suppliers440/4 | - | €2k | €2k | €2k | €1k | ▼ 44.9% |
| Taxes, remuneration and social security45 | €13k | €4k | €17k | €16k | €20k | ▲ 28.3% |
| Taxes450/3 | €13k | €4k | €17k | €16k | €20k | ▲ 28.3% |
| Other amounts payable47/48 | €10k | €20k | €152k | €57k | €107k | ▲ 87.9% |
| Accrued charges and deferred income492/3 | - | - | €384 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25k | €32k | €35k | €53k | €48k | ▼ 10.1% |
| + Depreciation and write-downs630 | €4k | €10k | €11k | €12k | €12k | ▲ 1.0% |
| Operating cash flow (approximation) | €29k | €42k | €46k | €65k | €60k | ▼ 8.0% |
| Investment in fixed assets (approximation) | - | €-94 | €-31k | €0 | €-4k | - |
| Change in cash | - | €41k | €17k | €-41k | €-36k | ▲ 11.7% |
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
29-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
31-12
Financial
Highest result since 2020net €53k ▲54.1%
Operating result €76k, net result €53k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
31-12
Financial
Weakest financial yearnet €25k ▼36.6%
Net result drops to €25k, the lowest in the series; recovery starts the following year.
26-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
2 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, Boortmeerbeek · 1 establishment unit since 2020
Ground area
945 m²
Building footprint
186 m²
Volume, LiDAR
1,093 m³
Parcel 24039B0488/00Z002, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
REFOX
since 20202.299.789.529
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24039B0488/00Z002 | Flanders | 945 m² | 1 · 186 m² | 9.2 m · 2 fl. |
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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 215 EUR awarded · 215 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 117 EUR | 117 EUR |
| 2022 | 1 | 98 EUR | 98 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 22,056 companies in sector 69101 we hold annual accounts for 9,055. 9 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
Founded28-02-2020
Fiscal year end31-12
Activities, NACEBEL 2025
69101Activities of lawyers
Contact
E-mail
reinart.vos@gmail.com
Scores and ratios are computed by Checked and are not a credit decision.