ACTIVE

Ets REFRICAR

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Financial year 2025 · closed on 31/12/2025

Net result

141,7 k €

+232.5% YoY

Gross margin

577,9 k €

+38.1% YoY

Equity

237 k €

+21.4% YoY

Workforce

6,0 ETP

+11.1% YoY

What does Ets REFRICAR do?

Ets REFRICAR is a Public limited company incorporated in 1993. Its registered office is in Herstal. It employs on average 6,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0450.327.745

Incorporation

08/06/1993

Legal form

Public limited company

Registered office

Rue de l'Abbaye 140
4040 Herstal · WallonieSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Average workforce

6,0 ETP

Joint committees (4)

149
14901
200
218

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	577,9 k €	+38.1%	418,6 k €	+8.2%	386,9 k €	+22.5%	315,8 k €	+5.5%	299,4 k €	+6.0%	282,3 k €	-17.7%	342,9 k €	+21.5%	282,2 k €	-11.4%	318,7 k €	+23.7%	257,7 k €	-2.7%	264,7 k €	-6.4%	282,8 k €	-0.2%	283,4 k €	+6.2%	266,8 k €	-7.6%	288,7 k €	-7.7%	312,6 k €	+3.4%	302,5 k €	+12.7%	268,4 k €	+3.0%	260,5 k €
EBITDA	236,7 k €	+132%	102,1 k €	+48.5%	68,7 k €	+32.3%	52 k €	-6.7%	55,7 k €	-8.6%	60,9 k €	+21.1%	50,3 k €	+39.1%	36,1 k €	-25.0%	48,2 k €	+153%	19 k €	-62.0%	50,1 k €	-30.0%	71,6 k €	+13.7%	62,9 k €	+38.0%	45,6 k €	-12.1%	51,9 k €	-35.8%	80,7 k €	+71.2%	47,2 k €	-11.5%	53,3 k €	-8.8%	58,4 k €
Operating result	208,9 k €	+173%	76,6 k €	+29.8%	59 k €	+38.3%	42,6 k €	+12.0%	38,1 k €	+13.2%	33,6 k €	+13.6%	29,6 k €	+198%	9,9 k €	-35.3%	15,3 k €	+1156%	1,2 k €	-95.9%	29,4 k €	+114%	13,7 k €	-7.8%	14,9 k €	+338%	-6,3 k €	-70.5%	-3,7 k €	-110%	37,5 k €	+294%	9,5 k €	-60.2%	23,9 k €	-3.6%	24,8 k €
Net result	141,7 k €	+232%	42,6 k €	+91.0%	22,3 k €	-1.0%	22,6 k €	+31.3%	17,2 k €	+24.0%	13,9 k €	-15.1%	16,3 k €	+831%	-2,2 k €	-295%	1,1 k €	+111%	-10,6 k €	-186%	12,3 k €	+125%	5,5 k €	-8.7%	6 k €	+138%	-15,6 k €	-34.7%	-11,6 k €	-162%	18,7 k €	+367%	-7 k €	-307%	3,4 k €	-30.1%	4,9 k €
Balance sheet
Equity	237 k €	+21.4%	195,3 k €	+27.9%	152,7 k €	+17.0%	130,5 k €	+20.8%	108 k €	+18.7%	91 k €	-31.6%	133,1 k €	+12.9%	117,9 k €	-2.8%	121,3 k €	-0.0%	121,3 k €	-8.5%	132,6 k €	+8.9%	121,8 k €	+2.9%	118,5 k €	+3.4%	114,6 k €	-2.1%	117 k €	-9.4%	129,2 k €	+4.6%	123,6 k €	-5.8%	131,1 k €	+2.2%	128,3 k €
Total assets	907,2 k €	+20.6%	752,5 k €	-8.3%	820,6 k €	+11.4%	736,7 k €	+1.4%	726,8 k €	+0.6%	722,3 k €	+21.9%	592,5 k €	+17.0%	506,6 k €	-15.3%	597,9 k €	-11.1%	672,6 k €	-4.1%	701 k €	+5.5%	664,6 k €	-5.6%	703,8 k €	+2.0%	689,6 k €	-14.8%	809,5 k €	+19.8%	675,9 k €	-0.5%	679,6 k €	+2.1%	665,4 k €	+3.6%	642,5 k €
Cash	147,1 k €	+162%	56,2 k €	-57.7%	132,9 k €	+135%	56,5 k €	-36.9%	89,6 k €	+32.4%	67,7 k €	+226%	20,7 k €	+14.7%	18,1 k €	-84.0%	112,8 k €	+1.2%	111,4 k €	-19.9%	139,1 k €	+323%	32,9 k €	-39.9%	54,7 k €	+11.1%	49,3 k €	+81.9%	27,1 k €	-49.1%	53,1 k €	-37.2%	84,6 k €	+42.9%	59,2 k €	+559%	9 k €
Debts	660 k €	+20.8%	546,3 k €	-16.8%	656,7 k €	+10.4%	595,1 k €	-1.7%	605,2 k €	-2.2%	619,1 k €	+38.4%	447,3 k €	+19.0%	376 k €	-15.3%	444 k €	-16.1%	528,9 k €	-3.0%	545,2 k €	+5.5%	516,9 k €	-8.2%	563,3 k €	+0.8%	558,8 k €	-10.4%	623,9 k €	+19.0%	524,4 k €	-0.6%	527,7 k €	+3.1%	512 k €	+5.1%	487,1 k €
Other
Workforce	6,0 ETP	+11.1%	5,4 ETP	0.0%	5,4 ETP	+5.9%	5,1 ETP	-5.6%	5,4 ETP	+17.4%	4,6 ETP	-8.0%	5,0 ETP	+6.4%	4,7 ETP	-21.7%	6,0 ETP	+15.4%	5,2 ETP	+26.8%	4,1 ETP	-21.2%	5,2 ETP	+4.0%	5,0 ETP	-2.0%	5,1 ETP	-23.9%	6,7 ETP	0.0%	6,7 ETP	-10.7%	7,5 ETP	+5.6%	7,1 ETP	+9.2%	6,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 18 ended

Active mandates

Myriam SLUYSMANS

Director · since 27 juin 2025 · until 27 juin 2031

Active

Myriam SLUYSMANS

Managing director · since 28 juin 2019 · until 27 juin 2025

Active

RGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 27 juin 2031 · 0729.643.797

Represented by Romain GAUDE

Active

SGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 27 juin 2031 · 0729.643.601

Represented by Simon GAUDE

Active

Thierry GAUDE

Managing director · since 28 juin 2019 · until 27 juin 2031

Active

Ended mandates

RGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 17 juin 2025 · 0729.643.797

Represented by Romain GAUDE

Ended

RGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 27 juin 2025 · 0729.643.797

Represented by Romain GAUDE

Ended

SGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 17 juin 2025 · 0729.643.601

Represented by Simon GAUDE

Ended

SGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 27 juin 2025 · 0729.643.601

Represented by Simon GAUDE

Ended

At this address

Other companies at this address

Company	CBE no.
REFRICAR INVEST● Active	0730.724.358
RGAUDE MANAGEMENT● Active	0729.643.797

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	21/05/2026	15/07/2025	15/05/2024	17/07/2023	19/07/2022	13/07/2021
General meeting	22/04/2026	17/06/2025	29/04/2024	20/06/2023	21/06/2022	15/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	22/04/2026	21/05/2026	French	PDF
Abridged model	31/12/2024	17/06/2025	15/07/2025	French	PDF
Abridged model	31/12/2023	29/04/2024	15/05/2024	French	PDF
Abridged model	31/12/2022	20/06/2023	17/07/2023	French	PDF
Abridged model	31/12/2021	21/06/2022	19/07/2022	French	PDF
Abridged model	31/12/2020	15/06/2021	13/07/2021	French	PDF
Abridged model	31/12/2019	16/06/2020	09/07/2020	French	PDF
Abridged model	31/12/2018	19/02/2019	14/03/2019	French	PDF
Abridged model	31/12/2017	17/04/2018	17/05/2018	French	PDF
Abridged model	31/12/2016	18/04/2017	11/05/2017	French	PDF
Abridged model	31/12/2015	19/04/2016	24/05/2016	French	PDF
Abridged model	31/12/2014	21/04/2015	20/07/2015	French	PDF
Abridged model	31/12/2013	15/04/2014	29/08/2014	French	PDF
Abridged model	31/12/2012	16/04/2013	30/08/2013	French	PDF
Abridged model	31/12/2011	17/04/2012	29/08/2012	French	PDF
Abridged model	31/12/2010	19/04/2011	31/08/2011	French	PDF
Abridged model	31/12/2009	20/04/2010	31/08/2010	French	PDF
Abridged model	31/12/2008	21/04/2009	31/08/2009	French	PDF
Abridged model	31/12/2007	15/04/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	17/04/2007	28/08/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 18 ended

Active mandates

Myriam SLUYSMANS

Director · since 27 juin 2025 · until 27 juin 2031

Active

Myriam SLUYSMANS

Managing director · since 28 juin 2019 · until 27 juin 2025

Active

RGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 27 juin 2031 · 0729.643.797

Represented by Romain GAUDE

Active

SGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 27 juin 2031 · 0729.643.601

Represented by Simon GAUDE

Active

Thierry GAUDE

Managing director · since 28 juin 2019 · until 27 juin 2031

Active

Ended mandates

RGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 17 juin 2025 · 0729.643.797

Represented by Romain GAUDE

Ended

RGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 27 juin 2025 · 0729.643.797

Represented by Romain GAUDE

Ended

SGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 17 juin 2025 · 0729.643.601

Represented by Simon GAUDE

Ended

SGAUDE MANAGEMENT

Managing director · since 28 juin 2019 · until 27 juin 2025 · 0729.643.601

Represented by Simon GAUDE

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/09/2025
DEMISSIONS, NOMINATIONS
PDF
Restructuring29/07/2019
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Restructuring29/03/2019
RUBRIQUE RESTRUCTURATION (FUSION, SCISSION, TRANSFERT PATRIMOINE, ETC...)
PDF
Mandates02/03/2018
DEMISSIONS, NOMINATIONS
PDF
Mandates16/01/2012
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates29/12/2011
DEMISSIONS, NOMINATIONS
PDF
Registered office22/11/2007
SIEGE SOCIAL
PDF
Mandates14/07/2005
DEMISSIONS, NOMINATIONS
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025141,7 k €↑
2024
Annual accounts 202442,6 k €↑
2023
Annual accounts 202322,3 k €↓
2022
Annual accounts 202222,6 k €↑
2021
Annual accounts 202117,2 k €↑
2020
Annual accounts 202013,9 k €↓
2018
Annual accounts 201816,3 k €↑
2017
Annual accounts 2017-2,2 k €↓
2016
Annual accounts 20161,1 k €↑
2015
Annual accounts 2015-10,6 k €↓
2014
Annual accounts 201412,3 k €↑
2013
Annual accounts 20135,5 k €↓
2012
Annual accounts 20126 k €↑
2011
Annual accounts 2011-15,6 k €↓
2010
Annual accounts 2010-11,6 k €↓
2009
Annual accounts 200918,7 k €↑
2008
Annual accounts 2008-7 k €↓
2007
Annual accounts 20073,4 k €↓
2006
Annual accounts 20064,9 k €
08/06/1993
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Ets REFRICAR

Overview

What does Ets REFRICAR do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline