ACTIVE

RECURSIVE

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Financial year 2024 · closed on 31/12/2024

Net result

85,4 k €

+67.1% YoY

Gross margin

120,8 k €

+38.0% YoY

Equity

499,1 k €

+20.6% YoY

What does RECURSIVE do?

RECURSIVE is a Private limited company incorporated in 2009. Its main activity is: Computer consultancy activities. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0809.593.078

Incorporation

04/02/2009

Legal form

Private limited company

Registered office

Avenue Franklin Roosevelt 190 box 3
1050 Bruxelles · BruxellesSee on map

Contributed capital

6 200,00 €

Latest accounts

31/12/2024

Activities (NACE)

62020Computer consultancy activities· main 62200Computer programming, consultancy and related activities 62030Computer facilities management activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	120,8 k €	+38.0%	87,5 k €	+27.7%	68,5 k €	+17.7%	58,2 k €	-29.7%	82,8 k €	+41.3%	58,6 k €	-0.9%	59,1 k €	-43.2%	104,1 k €	+3.6%	100,5 k €	-0.6%	101,2 k €	+6.1%	95,4 k €	-17.8%	115,9 k €	+1902%	5,8 k €	-87.6%	46,7 k €	+66.7%	28,0 k €	+11.8%	25,0 k €
EBITDA	120,3 k €	+55.2%	77,5 k €	+14.3%	67,9 k €	+17.8%	57,6 k €	-29.8%	82,0 k €	+41.8%	57,8 k €	+1.5%	57,0 k €	-45.0%	103,7 k €	+5.5%	98,3 k €	-2.1%	100,4 k €	+10.3%	91,1 k €	-20.7%	114,8 k €	+2284%	4,8 k €	-89.5%	45,7 k €	+71.9%	26,6 k €	+6.1%	25,0 k €
Operating result	117,9 k €	+56.1%	75,5 k €	+11.7%	67,6 k €	+18.7%	57,0 k €	-30.0%	81,4 k €	+41.7%	57,4 k €	+0.8%	57,0 k €	-45.0%	103,7 k €	+5.7%	98,1 k €	-2.1%	100,2 k €	+17.6%	85,2 k €	-21.8%	109,0 k €	+12234%	-898,0 €	-102%	40,2 k €	+90.3%	21,1 k €	-13.5%	24,4 k €
Net result	85,4 k €	+67.1%	51,1 k €	-2.0%	52,2 k €	+8.1%	48,3 k €	-20.9%	61,0 k €	+179%	21,9 k €	+23.9%	17,7 k €	-75.2%	71,2 k €	-4.2%	74,3 k €	+25.1%	59,4 k €	+65.3%	35,9 k €	-60.6%	91,2 k €	+1386%	-7,1 k €	-123%	30,9 k €	+690%	3,9 k €	-84.0%	24,4 k €
Balance sheet
Equity	499,1 k €	+20.6%	413,7 k €	+14.1%	362,6 k €	+16.8%	310,5 k €	+8.5%	286,2 k €	-28.4%	399,9 k €	+5.8%	378,0 k €	+4.9%	360,3 k €	+24.6%	289,1 k €	+34.6%	214,8 k €	+15.8%	185,4 k €	+24.0%	149,5 k €	+157%	58,3 k €	-10.8%	65,4 k €	+89.4%	34,5 k €	+12.8%	30,6 k €
Total assets	510,5 k €	+4.3%	489,3 k €	+26.6%	386,4 k €	+9.8%	351,9 k €	-34.8%	539,7 k €	+23.1%	438,4 k €	+6.8%	410,6 k €	+6.2%	386,8 k €	+30.0%	297,6 k €	+34.4%	221,5 k €	+13.1%	195,8 k €	+28.2%	152,7 k €	+159%	59,0 k €	-9.9%	65,4 k €	+65.9%	39,5 k €	-3.1%	40,7 k €
Cash	431,7 k €	+14.0%	378,7 k €	+36.7%	277,1 k €	-9.7%	306,7 k €	-35.5%	475,1 k €	+34.4%	353,5 k €	+2.2%	346,0 k €	+18.1%	293,0 k €	+51.6%	193,2 k €	+44.8%	133,4 k €	+3.1%	129,4 k €	+6.1%	122,0 k €	+194%	41,5 k €	+8.9%	38,1 k €	+169%	14,2 k €	+77.6%	8,0 k €
Debts	11,3 k €	-85.0%	75,5 k €	+217%	23,8 k €	-42.7%	41,5 k €	-83.6%	253,5 k €	+558%	38,6 k €	+18.2%	32,6 k €	+23.3%	26,5 k €	+212%	8,5 k €	+27.6%	6,7 k €	-35.9%	10,4 k €	+224%	3,2 k €	+375%	675,0 €	+878%	69,0 €	-98.6%	4,9 k €	-51.2%	10,1 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 1 active · 2 ended

Active mandates

Viktor Kosta

Mandate

Active

Ended mandates

KOSTA VIKTOR

Manager

Ended

SIMONS WANNES

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
ASSOC DES COPROPRIETAIRE AV FR ROOSEVELT 190 ACP● Active	0850.056.035
SIRIUS BC● Active	0778.452.021
WHITE DYNAMICS● Active	0600.969.636

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Micro model	Micro model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/09/2025	07/02/2025	30/08/2023	31/08/2022	14/09/2021	30/09/2020
General meeting	02/06/2025	03/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
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
Micro modelCorrection	31/12/2024	02/06/2025	30/09/2025	French	PDF
Micro model	31/12/2024	02/06/2025	25/06/2025	French	PDF
Micro model	31/12/2023	03/06/2024	07/02/2025	French	PDF
Abridged model	31/12/2022	30/06/2023	30/08/2023	French	PDF
Abridged model	31/12/2021	30/06/2022	31/08/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	14/09/2021	French	PDF
Abridged model	31/12/2019	30/06/2020	30/09/2020	French	PDF
Abridged model	31/12/2018	30/06/2019	30/08/2019	French	PDF
Abridged model	31/12/2017	30/06/2018	30/08/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	29/09/2017	French	PDF
Abridged model	31/12/2015	30/06/2016	26/08/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	31/08/2015	French	PDF
Abridged model	31/12/2013	30/06/2014	30/09/2014	French	PDF
Abridged model	31/12/2012	30/06/2013	30/08/2013	French	PDF
Abridged modelCorrection	31/12/2011	30/06/2012	30/10/2013	French	PDF
Abridged model	31/12/2011	30/06/2012	29/08/2012	French	PDF
Abridged modelCorrection	31/12/2010	30/06/2011	30/10/2013	French	PDF
Abridged model	31/12/2010	30/06/2011	30/08/2011	French	PDF
Abridged modelCorrection	31/12/2009	30/06/2010	30/10/2013	French	PDF
Abridged model	31/12/2009	30/06/2010	26/08/2010	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 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 31/12/2024 · 1 active · 2 ended

Active mandates

Viktor Kosta

Mandate

Active

Ended mandates

KOSTA VIKTOR

Manager

Ended

SIMONS WANNES

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office29/12/2022
SIEGE SOCIAL
PDF
Mandates25/10/2021
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Registered office02/01/2018
SIEGE SOCIAL
PDF
Registered office15/12/2015
SIEGE SOCIAL
PDF
Registered office02/10/2009
SIEGE SOCIAL
PDF
Registered office06/03/2009
SIEGE SOCIAL
PDF
Other13/02/2009
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

2024
Annual accounts 202485,4 k €↑
2023
Annual accounts 202351,1 k €↓
2022
Annual accounts 202252,2 k €↑
2021
Annual accounts 202148,3 k €↓
2020
Annual accounts 202061,0 k €↑
2019
Annual accounts 201921,9 k €↑
2018
Annual accounts 201817,7 k €↓
2017
Annual accounts 201771,2 k €↓
2016
Annual accounts 201674,3 k €↑
2015
Annual accounts 201559,4 k €↑
2014
Annual accounts 201435,9 k €↓
2013
Annual accounts 201391,2 k €↑
2012
Annual accounts 2012-7,1 k €↓
2011
Annual accounts 201130,9 k €↑
2010
Annual accounts 20103,9 k €↓
2009
Annual accounts 200924,4 k €
04/02/2009
IncorporationPrivate 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

RECURSIVE

Overview

What does RECURSIVE do?

Trend over 16 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