Checked.be
Active
BE 0878.359.744Private limited company
RSQUARE
Chemin de la Bruyère 47 ·1473 Genappe, Belgium· 20 yrs active
Sector: General electrical installation work
(43211)
Conclusion
RSQUARE has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €293k and a net result of €13k. Equity is shrinking by ~5.9% per year across the filed fiscal years. Its solvency ranks better than 30% of 7448 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €293k |
| Net result | €13k |
| Staff (FTE) | 1 |
| Better than sector | 30% |
Financial profile
54
/ 100
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
Health
68
Profitability
21
Solvency
49
Growth
32
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 2006, 20 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
68
/ 100
Healthy
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€20k
estimate, not credit advice
Score history
93
2021
93
2022
83
2023
84
2024
68
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.29 (≥ 1.0)
+5
Quick ratio
Quick ratio 1.29 (≥ 1.0)
+5
Profitability
ROE 4%
+3
Interest coverage
Interest coverage 18.2× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 31-08-2026 with the NBB · fiscal year 2025 · abbreviated schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
declining
Equity: declining trend of ~5.9%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 43, Specialised construction activities · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 27.7% | 44.0% | |
| Net result | €13k | €30k | |
| Equity | €293k | €276k | |
| Gross operating margin | €84k | €275k | |
| Staff costs | €45k | €244k |
€38k
-3.9%
21-25
€13k
-35.7%
21-25
€29k
-15.7%
21-25
€1.06M
-13.5%
21-25
€293k
-47.4%
21-25
€222k
-56.9%
21-25
1
0.0%
21-25
€45k
-2.5%
21-25
€10k
+2.8%
21-25
€277k
+412.2%
21-25
€764k
+15.0%
21-25
€751k
+17.1%
21-25
€12k
-45.3%
21-25
1.29
-28.1%
21-25
1.29
-28.1%
21-25
27.7%
-39.2%
21-25
2.61
+118.7%
21-25
4.3%
+22.3%
21-25
1.2%
-25.7%
21-25
18.19
+68.4%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | abbreviated schema | full schema | full schema | full schema | full schema |
| Revenue | - | - | - | - | - |
| EBITDA | €38k | €40k | €41k | €129k | €202k |
| Net profit | €13k | €20k | €13k | €82k | €126k |
| Cash flow | €29k | €35k | €24k | €93k | €137k |
| Staff costs | €45k | €46k | €49k | €41k | €52k |
| Income taxes | €10k | €10k | €16k | €34k | €63k |
| Dividends | €277k | €54k | €41k | - | - |
| Total assets | €1.06M | €1.22M | €837k | €1.12M | €804k |
| Equity | €293k | €557k | €591k | €620k | €538k |
| Debt | €764k | €664k | €246k | €505k | €266k |
| of which ≤ 1y | €751k | €642k | €245k | €503k | €260k |
| of which > 1y | €12k | €22k | €860 | €2k | €6k |
| Working capital | €222k | €514k | €559k | €591k | €507k |
| Employees (FTE) | 1.0 | 1.0 | 1.0 | 1.0 | 1.2 |
Note: these years are not on the same basis. The filed schemas differ (abbreviated schema, full schema), so the columns are not directly comparable.
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 1.29 | 1.80 | 3.28 | 2.17 | 2.95 |
| Quick ratio | 1.29 | 1.80 | 3.28 | 2.17 | 2.95 |
| Working capital ratio | 21.0% | 42.1% | 66.7% | 52.6% | 63.1% |
| Solvency | 27.7% | 45.6% | 70.6% | 55.1% | 66.9% |
| Debt / equity | 2.61 | 1.19 | 0.42 | 0.82 | 0.49 |
| Long-term debt ratio | 0.04 | 0.04 | 0.00 | 0.00 | 0.01 |
| Interest coverage | 18.19 | 10.80 | 66.66 | 61.47 | 52.65 |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 1.2% | 1.6% | 1.5% | 7.3% | 15.6% |
| ROE | 4.3% | 3.5% | 2.1% | 13.2% | 23.4% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (25 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €1.06M | €1.22M | €837k | €1.12M | €804k |
| Fixed assets | 21/28 | €83k | €65k | €33k | €30k | €37k |
| Tangible fixed assets | 22/27 | €78k | €61k | €30k | €27k | €33k |
| Financial fixed assets | 28 | €5k | €4k | €4k | €4k | €4k |
| Current assets | 29/58 | €973k | €1.16M | €804k | €1.09M | €767k |
| Amounts receivable within one year | 40/41 | €623k | €579k | €352k | €411k | €223k |
| Investments | 50/53 | - | €353k | - | - | - |
| Cash & bank | 54/58 | €346k | €218k | €448k | €681k | €541k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €1.06M | €1.22M | €837k | €1.12M | €804k |
| Equity | 10/15 | €293k | €557k | €591k | €620k | €538k |
| Contributions / capital | 10/11 | €19k | €19k | €19k | €19k | €19k |
| Reserves | 13 | €109k | €373k | €427k | €455k | €373k |
| Accumulated profits (losses) | 14 | €165k | €165k | €146k | €146k | €146k |
| Amounts payable | 17/49 | €764k | €664k | €246k | €505k | €266k |
| Amounts payable after one year | 17 | €12k | €22k | €860 | €2k | €6k |
| Amounts payable within one year | 42/48 | €751k | €642k | €245k | €503k | €260k |
| Trade debts payable within one year | 44 | €467k | €616k | €183k | €345k | €194k |
| Income statement | ||||||
| Gross operating margin | 9900 | €84k | €88k | €91k | €171k | €256k |
| Operating result | 9901 | €21k | €24k | €29k | €118k | €191k |
| Financial income | 75 | €3k | €9k | €840 | €294 | €3k |
| Financial charges | 65 | €2k | €4k | €609 | €2k | €4k |
| Result before taxes | 9903 | €23k | €29k | €29k | €116k | €189k |
| Income taxes | 67/77 | €10k | €10k | €16k | €34k | €63k |
| Net result for the period | 9904 | €13k | €20k | €13k | €82k | €126k |
| Result to be appropriated | 9905 | €13k | €20k | €54k | €82k | €126k |
Directors & mandates
Current directors & mandates
-
Current11-12-2025 → present
Legal Structure
| NACE primary | General electrical installation work(43211) |
| Legal form | Private limited company(610) |
| Incorporation | 05-01-2006 |
| Status | Active |
| Postal code | 1473 |
Establishment units
RSQUARE
since 20062.151.089.717
Real-estate footprint
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25034C0181/00B000 | Wallonia | 152 m² | 1 · 125 m² | 7.4 m · 2 fl. |
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.
Updates
Next filing, fiscal year 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Weakest financial yearnet €13k ▼35.7%
Net result drops to €13k, the lowest in the series.
11-12
State Gazette act
Director changes
v3.2
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
17-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 78 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
19-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 80 days late
2020
16-11
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 108 days late
2019
25-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 86 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 31 days late
2017
20-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 81 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 1
updated 8 months ago
2025
11-12-2025 RUSS Réginald Philippe Jacques Christian reappointed as director
- RUSS Réginald Philippe Jacques Christian, Bestuurder
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_renew",
"role": "bestuurder",
"person": {
"rrn": null,
"name": "RUSS R\u00E9ginald Philippe Jacques Christian",
"address": null,
"birth_date": null
},
"evidence_quote": "7. D\u00E9mission et renouvellement des g\u00E9rants comme administrateurs."
}
],
"schema": "v3.2",
"act_meta": {
"model_id": 36,
"extractor": "constrained-core-35b"
},
"subject_company": {
"kbo": "0878.359.744",
"name_full": "RSQUARE",
"legal_form": "SPRL"
}
}Credit advice
Company registry (CBE)
Activities
General electrical installation work43211IT consultancy62020Computer consultancy and computer facilities management62200Agents in non-specialised wholesale trade4619072100
Names & trade names
| Legal nameFR | RSQUARE |
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