ACTIVE

RSD - Belgium

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Financial year 2025 · closed on 31/12/2025
Net result
336,7 k €
-78.1% YoY
Gross margin
479,7 k €
-77.0% YoY
Equity
1,7 M €
+24.2% YoY

What does RSD - Belgium do?

RSD - Belgium is a Public limited company incorporated in 2012. Its main activity is: Travel agency activities. Its registered office is in Braine-l'Alleud.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0508.798.652
Incorporation
28/12/2012
Legal form
Public limited company
Registered office
Boulevard de France 9
1420 Braine-l'Alleud · WallonieSee on map
Contributed capital
150 000,00 €
Latest accounts
31/12/2025
Activities (NACE)
79110Travel agency activities· main79110Travel agency activities79120Tour operator activities79120Tour operator activities
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDA
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 13 financial years

2025202420232022202120202019201820172016201520142013
Income statement
Gross margin479,7 k €2,1 M €1,6 M €1,1 M €-330,1 k €364,4 k €3 M €2 M €1,2 M €275,2 k €–––
EBITDA477,7 k €2,1 M €1,6 M €1,1 M €-331,1 k €363,3 k €3 M €2 M €1,2 M €274,3 k €609,5 k €879,5 k €-507,2 k €
Operating result477,7 k €2,1 M €1,6 M €1,1 M €-331,1 k €363,3 k €3 M €2 M €1,2 M €274,3 k €609,5 k €879,5 k €-509,6 k €
Net result336,7 k €1,5 M €1,2 M €865,1 k €-361,8 k €241,1 k €2 M €1,4 M €752,5 k €173,3 k €386,5 k €730,9 k €-519,9 k €
Balance sheet
Equity1,7 M €1,4 M €1,8 M €1,7 M €3 M €3,3 M €3,1 M €1 M €1,2 M €420,8 k €547,5 k €361 k €-369,9 k €
Total assets8,3 M €5,5 M €4,6 M €3,1 M €4 M €6 M €5,7 M €5,5 M €3,7 M €2,1 M €1 M €1,3 M €321,1 k €
Cash7,7 M €5,5 M €4,2 M €2,7 M €3,7 M €5,5 M €5,5 M €5,3 M €3,5 M €2 M €907,3 k €1,3 M €257,5 k €
Debts6,6 M €4,1 M €2,7 M €1,4 M €1 M €2,7 M €2,6 M €4,5 M €2,5 M €1,7 M €391,1 k €970 k €650,8 k €
Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 4 ended

Active mandates

Christian Blüme

Director · since 31 décembre 2025 · until 31 décembre 2031

Active

Ended mandates

Adab Kourosh

Director · since 23 avril 2020 · until 22 avril 2026

Ended
Adab Kourosh

Director · since 20 février 2020 · until 01 juin 2025

Ended
Horst Johann Zsifkovits

Director · until 20 février 2020

Ended
Horst Johann ZSIFKOVITS

Manager

Ended
At this address

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Adco Home● Active
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ALSY BELGIUM● Active
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Alsy Consulting● Active
1030.866.609
AQUA-FLO● Active
0668.793.224
ARTISAN WINE EXPORTS● Active
0628.960.866
AUXILIUM GROUP● Active
0691.872.789
AXONE PHARMA● Active
0830.551.216
AZ TAXI PROXI● Active
0747.739.346
BELGA TOITURE● Active
0838.031.302
BLUX DISTRIBUTION● Active
1040.946.986
BONFITTO NEWCO● Active
0838.049.316
BOX ITTRE● Active
1032.497.791
CASA A++● Active
1016.026.795
Céline SAEZ ALVAREZ● Active
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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 date14/04/202628/03/202529/08/202403/07/202315/06/202207/06/2021
General meeting13/04/202628/03/202503/06/202405/06/202307/06/202219/05/2021
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

13 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202513/04/202614/04/2026FrenchPDF
Abridged model31/12/202428/03/202528/03/2025FrenchPDF
Abridged model31/12/202303/06/202429/08/2024FrenchPDF
Abridged model31/12/202205/06/202303/07/2023FrenchPDF
Abridged model31/12/202107/06/202215/06/2022FrenchPDF
Abridged model31/12/202019/05/202107/06/2021FrenchPDF
Abridged model31/12/201930/06/202017/09/2020FrenchPDF
Abridged model31/12/201803/06/201904/07/2019FrenchPDF
Abridged model31/12/201704/06/201821/06/2018FrenchPDF
Abridged model31/12/201610/05/201722/06/2017FrenchPDF
Full model31/12/201506/06/201601/07/2016FrenchPDF
Full model31/12/201401/06/201527/08/2015FrenchPDF
Full model31/12/201302/06/201410/07/2014FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 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 · 1 active · 4 ended

Active mandates

Christian Blüme

Director · since 31 décembre 2025 · until 31 décembre 2031

Active

Ended mandates

Adab Kourosh

Director · since 23 avril 2020 · until 22 avril 2026

Ended
Adab Kourosh

Director · since 20 février 2020 · until 01 juin 2025

Ended
Horst Johann Zsifkovits

Director · until 20 février 2020

Ended
Horst Johann ZSIFKOVITS

Manager

Ended
Shareholders

Ownership and network

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Try for 7 days
Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates27/02/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates27/04/2020
    MODIFICATION FORME JURIDIQUE - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates23/03/2020
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates19/07/2013
    DENOMINATION
    PDF
  • Capital / shares28/06/2013
    CAPITAL, ACTIONS
    PDF
  • Other02/01/2013
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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 2025336,7 k €↓
  2. 2024
    Annual accounts 20241,5 M €↑
  3. 2023
    Annual accounts 20231,2 M €↑
  4. 2022
    Annual accounts 2022865,1 k €↑
  5. 2021
    Annual accounts 2021-361,8 k €↓
  6. 2020
    Annual accounts 2020241,1 k €↓
  7. 2019
    Annual accounts 20192 M €↑
  8. 2018
    Annual accounts 20181,4 M €↑
  9. 2017
    Annual accounts 2017752,5 k €↑
  10. 2016
    Annual accounts 2016173,3 k €↓
  11. 2015
    Annual accounts 2015386,5 k €↓
  12. 2014
    Annual accounts 2014730,9 k €↑
  13. 2013
    Annual accounts 2013-519,9 k €
  14. 28/12/2012
    IncorporationPublic limited company