ACTIVE

RECMA

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Financial year 2025 · closed on 31/12/2025
Net result
1,1 M €
+296.4% YoY
Revenue
2,7 M €
-32.2% YoY
Equity
1,5 M €
+300.1% YoY
Workforce
61,7 ETP
-36.5% YoY

What does RECMA do?

RECMA is a Cooperative society incorporated in 1996. Its main activity is: Sewerage. Its registered office is in Seraing. It employs on average 61,7 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0458.336.876
Incorporation
25/04/1996
Legal form
Cooperative society
Registered office
Rue du Têris 43
4100 Seraing · WallonieSee on map
Contributed capital
30 986,75 €
Latest accounts
31/12/2025
Average workforce
61,7 ETP
Activities (NACE)
37200Sewerage· main38210Treatment and disposal of non-hazardous waste38323Recovery of sorted materials81220Other building and industrial cleaning activities46772Wholesale of waste and scrap46872Wholesale trade, except of motor vehicles and motorcycles+3
Joint committees (11)
  • 100
  • 121
  • 1210
  • 124
  • 14201
  • 14204
  • 145
  • 1450
  • 200
  • 2000
  • 218
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 18 financial years

202520242023202220212018201720162015201420132012201120102009200820072006
Income statement
Revenue2,7 M €4 M €–––3 M €2,8 M €2,6 M €2,3 M €2 M €2,5 M €2,1 M €2 M €1,8 M €1,6 M €1,7 M €1,6 M €1,6 M €
EBITDA1,4 M €-417 k €-515 k €97,9 k €198,4 k €159,8 k €204 k €185,8 k €169,2 k €160,8 k €190,3 k €189,6 k €395,7 k €206,3 k €113,3 k €180,8 k €338,5 k €321,6 k €
Operating result1,2 M €-566,4 k €-629,1 k €858 €35,9 k €20,1 k €35,9 k €43,9 k €47 k €112,6 k €119,7 k €121,3 k €333,9 k €137,4 k €59,1 k €140,2 k €271,1 k €241,4 k €
Net result1,1 M €-583,6 k €-637 k €-11,4 k €17,7 k €-18,3 k €4,8 k €14,5 k €30,9 k €109,3 k €119,8 k €106,5 k €324,3 k €105,5 k €48 k €69,2 k €247,5 k €194,9 k €
Balance sheet
Equity1,5 M €379,7 k €973,2 k €1,6 M €1,6 M €1,7 M €1,7 M €1,7 M €1,6 M €1,6 M €1,5 M €1,4 M €1,3 M €939,8 k €816,1 k €778,5 k €716 k €479 k €
Total assets4,7 M €4 M €2,1 M €2,8 M €2,7 M €3,1 M €3,4 M €2,8 M €2,2 M €1,9 M €1,9 M €1,8 M €1,6 M €1,4 M €1,2 M €1,2 M €1,3 M €1,2 M €
Cash793,1 k €2,4 M €367,3 k €847,5 k €871,9 k €350,2 k €232,3 k €173,3 k €508,1 k €748,6 k €611,2 k €626,8 k €646,1 k €191,4 k €156,9 k €94,7 k €270,2 k €42,2 k €
Debts1,4 M €1,9 M €991,2 k €1 M €945,9 k €1,1 M €1,2 M €849,6 k €632,1 k €317,3 k €296,7 k €411,8 k €385 k €411,8 k €352,4 k €398 k €581,6 k €684,8 k €
Other
Workforce61,7 ETP97,2 ETP96,1 ETP93,2 ETP91,4 ETP82,4 ETP77,4 ETP70,1 ETP58,9 ETP52,3 ETP48,7 ETP43,4 ETP44,7 ETP39,4 ETP37,5 ETP40,7 ETP37,8 ETP37,4 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 5 active · 67 ended

Active mandates

Luc Joine

Director · since 05 juin 2023 · until 04 juin 2026

Active
Jacques Allard

Director · since 15 juin 2022 · until 14 juin 2029

Active
Jean-Luc Pluymers

Chairman of the board of directors · since 15 juin 2022 · until 14 juin 2028

Active
Laurence Duyckaerts

Director · since 29 juin 2020 · until 04 juin 2026

Active
Regina Del Bigo

Director · since 29 juin 2020 · until 04 juin 2026

Active

Ended mandates

Luc JOINE

Director · since 29 juin 2026 · until 15 juin 2022

Ended
Luc Joine

Director · since 05 juin 2023

Ended
Jacques ALLARD

Director · since 22 décembre 2022 · until 30 juin 2026

Ended
Carmelo Mammo

Director · since 15 juin 2022 · until 14 juin 2028

Ended
At this address

Other companies at this address

CompanyCBE no.
SOLARCYCLE● Active
0691.586.343
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelAbridged modelAbridged model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date12/06/202610/06/202518/06/202401/07/202324/10/202202/07/2021
General meeting28/05/202605/06/202506/06/202405/06/202315/06/202201/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202528/05/202612/06/2026FrenchPDF
Abridged model31/12/202405/06/202510/06/2025FrenchPDF
Abridged model31/12/202306/06/202418/06/2024FrenchPDF
Abridged model31/12/202205/06/202301/07/2023FrenchPDF
Abridged modelCorrection31/12/202115/06/202224/10/2022FrenchPDF
Abridged model31/12/202115/06/202215/07/2022FrenchPDF
Abridged model31/12/202001/06/202102/07/2021FrenchPDF
Abridged model31/12/201903/09/202030/09/2020FrenchPDF
Abridged model31/12/201818/06/201908/07/2019FrenchPDF
Abridged model31/12/201706/06/201827/06/2018FrenchPDF
Abridged model31/12/201620/04/201728/08/2017FrenchPDF
Abridged model31/12/201504/05/201629/08/2016FrenchPDF
Abridged model31/12/201421/05/201522/06/2015FrenchPDF
Abridged model31/12/201307/05/201425/08/2014FrenchPDF
Abridged model31/12/201215/04/201310/07/2013FrenchPDF
Abridged model31/12/201104/06/201222/08/2012FrenchPDF
Abridged model31/12/201003/05/201124/08/2011FrenchPDF
Abridged model31/12/200921/04/201017/08/2010FrenchPDF
Abridged model31/12/200828/04/200919/05/2009FrenchPDF
Abridged model31/12/200721/04/200814/07/2008FrenchPDF
Abridged model31/12/200620/04/200721/08/2007FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 67 ended

Active mandates

Luc Joine

Director · since 05 juin 2023 · until 04 juin 2026

Active
Jacques Allard

Director · since 15 juin 2022 · until 14 juin 2029

Active
Jean-Luc Pluymers

Chairman of the board of directors · since 15 juin 2022 · until 14 juin 2028

Active
Laurence Duyckaerts

Director · since 29 juin 2020 · until 04 juin 2026

Active
Regina Del Bigo

Director · since 29 juin 2020 · until 04 juin 2026

Active

Ended mandates

Luc JOINE

Director · since 29 juin 2026 · until 15 juin 2022

Ended
Luc Joine

Director · since 05 juin 2023

Ended
Jacques ALLARD

Director · since 22 décembre 2022 · until 30 juin 2026

Ended
Carmelo Mammo

Director · since 15 juin 2022 · until 14 juin 2028

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates23/07/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Other09/03/2026
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates02/10/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates19/09/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates21/12/2023
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates21/02/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates29/07/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates04/05/2022
    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

Timeline

  1. 2025
    Annual accounts 20251,1 M €↑
  2. 2024
    Annual accounts 2024-583,6 k €↑
  3. 2023
    Annual accounts 2023-637 k €↓
  4. 2022
    Annual accounts 2022-11,4 k €↓
  5. 2021
    Annual accounts 202117,7 k €↑
  6. 2018
    Annual accounts 2018-18,3 k €↓
  7. 2017
    Annual accounts 20174,8 k €↓
  8. 2016
    Annual accounts 201614,5 k €↓
  9. 2015
    Annual accounts 201530,9 k €↓
  10. 2014
    Annual accounts 2014109,3 k €↓
  11. 2013
    Annual accounts 2013119,8 k €↑
  12. 2012
    Annual accounts 2012106,5 k €↓
  13. 2011
    Annual accounts 2011324,3 k €↑
  14. 2010
    Annual accounts 2010105,5 k €↑
  15. 2009
    Annual accounts 200948 k €↓
  16. 2008
    Annual accounts 200869,2 k €↓
  17. 2007
    Annual accounts 2007247,5 k €↑
  18. 2006
    Annual accounts 2006194,9 k €
  19. 25/04/1996
    IncorporationCooperative society