REFRINAM EXPORT
ActiveSummary
REFRINAM EXPORT has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €679k and a net result of €-28k. Equity is growing by ~10.3% per year across the filed fiscal years. Its solvency ranks better than 56% of 4539 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
69
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability66▼-8
Solvency71▲+2
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45k at 30 days acceptable
Liquidity short (current ratio 0.76 against 0.9 in 2024; short-term debt: 34.7% and cash: 2.7% of total assets), and 54.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six 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 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
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
neutral · A punctual record breaks
This company filed 7 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-08-2026, 6 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
6 d late
2024
2 d early
2023
49 d early
2022
45 d early
2021
62 d early
2020
43 d early
2019
45 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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€3.28M
EBIT margin
5.6%
Net result
€-28k
2024 · €67k
2018: €9k
2019: €2k
2020: €108k
2021: €54k
2022: €-12k
2023: €120k
2024: €67k
2018 → 2025
Working capital
€-125k▼ 127%
2024 · €-55k
2018: €-218k
2019: €-267k
2020: €-126k
2021: €-54k
2022: €-177k
2023: €6k
2024: €-55k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€533k-€520k▼ 2.5%€640k▲ 23.2%€707k▲ 10.5%€679k▼ 3.9%
Operating result€103k-€54k▼ 47.8%€186k▲ 246%€113k▼ 39.0%€-10k
Net result€54k-€-12k€120k€67k▼ 44.4%€-28k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €10k after €113k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.48M
Fixed assets
€1.09M ▼ 2.3%
Current assets
€388k ▼ 19.5%
Equity and liabilities €1.48M
Equity
€679k ▼ 3.9%
Debt
€803k ▼ 10.3%
Debt's share of the balance-sheet total falls from 55.9% to 54.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€126k▼
2024 · €223k
Cash flow
€109k▼
2024 · €177k
Current ratio
0.76▼
2024 · 0.90
Quick ratio
0.43▼
2024 · 0.57
Debt to equity
1.18▼
2024 · 1.27
ROE
-4.1%▼
2024 · 9.5%
ROA
-1.9%▼
2024 · 4.2%
Interest coverage
7.44▼
2024 · 16.67
Debt ≤ 1 year
€514k▼
2024 · €538k
Debt > 1 year
€282k▼
2024 · €342k
Income taxes
€541▼
2024 · €33k
Staff costs
€221k▼
2024 · €238k
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 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.60M€1.48M▼
Fixed assets21/28€1.12M€1.09M▼
Tangible fixed assets22/27€1.12M€1.09M▼
Land and buildings22€981k€888k▼
Furniture and vehicles24€24k€15k▼
Leasing and similar rights25€115k€191k▲
Current assets29/58€483k€388k▼
Stocks and contracts in progress3€177k€170k▼
Stocks30/36€177k€170k▼
Amounts receivable within one year40/41€256k€178k▼
Trade receivables40€237k€122k▼
Other amounts receivable41€19k€56k▲
Cash at bank and in hand54/58€44k€41k▼
Deferred charges and accrued income490/1€5k-
Equity and liabilities
Total equity and liabilities10/49€1.60M€1.48M▼
Equity10/15€707k€679k▼
Contributions10/11€200k€200k=
Capital10€200k€200k=
Issued capital100€200k€200k=
Reserves13€280k€280k=
Non-distributable reserves130/1€20k€20k=
Legal reserve130€20k€20k=
Distributable reserves133€260k€260k=
Profit (loss) carried forward14€227k€199k▼
Amounts payable17/49€895k€803k▼
Amounts payable after more than one year17€342k€282k▼
Financial debts170/4€342k€282k▼
Amounts payable within one year42/48€538k€514k▼
Current portion of amounts payable after more than one year42€181k€197k▲
Trade debts44€304k€280k▼
Suppliers440/4€304k€280k▼
Taxes, remuneration and social security45€53k€37k▼
Taxes450/3€11k€4k▼
Remuneration and social security454/9€42k€33k▼
Other amounts payable47/48€160€160=
Accrued charges and deferred income492/3€15k€7k▼
Income statement
Code20242025
Remuneration, social security and pensions62€238k€221k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€110k€136k▲
Other operating charges640/8€33k€21k▼
Non-recurring operating charges66A-€41k
Gross operating margin9900€494k€409k▼
Operating profit (loss)9901€113k€-10k▼
Financial income75/76B€257€270▲
Recurring financial income75€257€270▲
Financial charges65/66B€13k€17k▲
Recurring financial charges65€13k€17k▲
Profit (loss) for the period before taxes9903€100k€-27k▼
Income taxes67/77€33k€541▼
Profit (loss) for the period9904€67k€-28k▼
Profit (loss) for the period to be appropriated9905€67k€-28k▼
Appropriation of the result
Profit (loss) to be appropriated9906€287k€199k▼
Profit (loss) brought forward from the previous period14P€220k€227k▲
Transfer to equity691/2€60k-
To other reserves6921€60k-
Social balance
Average headcount (FTE)90875.74.5▼
The notes to these accounts (9 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
06-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 6 days late
2025
31-12
Financial
Weakest financial yearnet €-28k ▼141%
Net result drops to €-28k, the lowest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €120k
Net result €120k after one loss-making year.
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €500kEq €533k ▲11.4%
4 profitable years in a row build equity to €533k.
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
16-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2017
03-07
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
9 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, Jemeppe-sur-Sambre · 2 establishment units since 1994
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 Isidore-Derèse,Mornimont 1245190 Jemeppe-sur-SambreGround area
3.5 ha
Building footprint
702 m²
Volume, LiDAR
4,517 m³
Parcel 61048I0050/00H000, Wallonia · tallest building 11.1 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
Rue Isidore-Derèse,Mornimont 5 B, 5190 Jemeppe-sur-Sambre
since 19942.068.648.922
PROXY DELHAIZE
since 20072.167.318.708
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 61048I0050/00H000 | Wallonia | 3.5 ha | 1 · 702 m² | 11.1 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via establishment units: 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 siteOuffet2.167.318.708
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Of 12,022 companies in sector 68203 we hold annual accounts for 5,986. 4,318 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded03-10-1994
Fiscal year end31-12
Activities, NACEBEL 2025
46649Wholesale of other machinery and equipment
68203Renting and operating of own or leased non-residential real estate, excluding land
47110Non-specialised retail sale with food, beverages or tobacco predominating
Sources
Crossroads Bank for EnterprisesNational Bank · 31 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.