ACTIVE

REFRECO

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Financial year 2025 · closed on 31/12/2025

Net result

-17,6 k €

-110.9% YoY

Gross margin

2,2 M €

+3.7% YoY

Equity

630,3 k €

-2.7% YoY

Workforce

29,9 ETP

+12.8% YoY

What does REFRECO do?

REFRECO is a Private limited company incorporated in 2010. Its main activity is: Repair of machinery. Its registered office is in Villers-le-Bouillet. It employs on average 29,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0826.907.875

Incorporation

24/06/2010

Legal form

Private limited company

Registered office

Rue de la Science 25
4530 Villers-le-Bouillet · WallonieSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

29,9 ETP

Activities (NACE)

33120Repair of machinery· main 33120Repair of machinery 33200Installation of industrial machinery and equipment 33200Installation of industrial machinery and equipment 33200Installation of industrial machinery and equipment 33200Installation of industrial machinery and equipment

Joint committees (3)

14901
200
218

Signals

Positive cashflowPositive EBITDAHealthy social debts

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Gross margin	2,2 M €	+3.7%	2,1 M €	+21.1%	1,8 M €	-10.4%	2 M €	+11.4%	1,8 M €	+20.8%	1,5 M €	+7.9%	1,4 M €	+18.1%	1,1 M €	+130%	500,5 k €	-44.4%	899,4 k €	+12.6%	798,6 k €	+17.6%	678,8 k €	-16.8%	816,3 k €	+41.1%	578,4 k €	+209%	186,9 k €	+246%	54,1 k €
EBITDA	171,8 k €	-57.6%	405,2 k €	+408%	79,7 k €	-83.3%	478,4 k €	+4.1%	459,7 k €	+15.0%	399,7 k €	+14.8%	348 k €	-0.9%	351,2 k €	+274%	-202,2 k €	-193%	216,8 k €	+27.9%	169,5 k €	+131%	73,3 k €	-61.2%	189 k €	+70.8%	110,7 k €	+39.1%	79,6 k €	+93.8%	41,1 k €
Operating result	39,8 k €	-84.2%	251,9 k €	+714%	-41 k €	-111%	376,2 k €	+0.0%	376,1 k €	+18.3%	317,8 k €	+12.7%	282 k €	-3.7%	292,9 k €	+198%	-297,3 k €	-339%	124,3 k €	+49.2%	83,3 k €	+11165%	-753 €	-101%	114,1 k €	+116%	52,9 k €	+45.8%	36,3 k €	+93.6%	18,7 k €
Net result	-17,6 k €	-111%	161,8 k €	+295%	-82,9 k €	-130%	272,2 k €	-1.4%	276,1 k €	+22.7%	225,1 k €	+28.5%	175,1 k €	-33.6%	263,5 k €	+178%	-336,6 k €	-818%	46,9 k €	-9.8%	52 k €	+499%	-13 k €	-121%	61,9 k €	+154%	24,4 k €	+20.9%	20,1 k €	+60.7%	12,5 k €
Balance sheet
Equity	630,3 k €	-2.7%	647,9 k €	+33.3%	486 k €	-14.6%	568,9 k €	-12.0%	646,7 k €	+8.6%	595,6 k €	+60.8%	370,5 k €	+89.6%	195,4 k €	+252%	-128,2 k €	-161%	208,4 k €	+29.0%	161,5 k €	+47.5%	109,5 k €	-10.6%	122,5 k €	+104%	60,2 k €	+123%	27 k €	+23.5%	21,9 k €
Total assets	4,6 M €	-21.6%	5,9 M €	+25.6%	4,7 M €	-2.9%	4,8 M €	+41.2%	3,4 M €	+44.9%	2,4 M €	+35.5%	1,7 M €	-14.8%	2 M €	+53.5%	1,3 M €	-40.9%	2,3 M €	+69.7%	1,3 M €	+29.4%	1 M €	+58.7%	646,2 k €	+22.8%	526,2 k €	+83.8%	286,2 k €	+156%	111,9 k €
Cash	264 k €	-37.8%	424,2 k €	-20.0%	530,4 k €	+112%	250,5 k €	-41.2%	425,8 k €	-32.2%	627,6 k €	+222%	195,1 k €	-49.1%	383,2 k €	+1028%	34 k €	-94.3%	595,2 k €	+643%	80,1 k €	+56.8%	51,1 k €	+37.8%	37,1 k €	+2667%	1,3 k €	-96.9%	43,7 k €	+39.2%	31,4 k €
Debts	4 M €	+76.2%	2,3 M €	+10.7%	2 M €	-13.6%	2,4 M €	+35.6%	1,7 M €	-0.6%	1,8 M €	+45.7%	1,2 M €	-23.0%	1,6 M €	+8.7%	1,4 M €	-29.7%	2 M €	+75.4%	1,2 M €	+27.3%	915,9 k €	+74.9%	523,6 k €	+13.5%	461,1 k €	+77.9%	259,1 k €	+191%	88,9 k €
Other
Workforce	29,9 ETP	+12.8%	26,5 ETP	-1.9%	27,0 ETP	+9.8%	24,6 ETP	+8.4%	22,7 ETP	+15.8%	19,6 ETP	+14.0%	17,2 ETP	+13.9%	15,1 ETP	+9.4%	13,8 ETP	-2.1%	14,1 ETP	+3.7%	13,6 ETP	+15.3%	11,8 ETP	-11.3%	13,3 ETP	+22.0%	10,9 ETP	+148%	4,4 ETP	+780%	0,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

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

Active mandates

CONSULFIN

Director · since 16 mai 2025 · until 16 mai 2031 · 1008.347.662

Represented by QUETIN Denis

Active

Gautier GERMAINE

Director · since 16 mai 2025 · until 16 mai 2031

Active

OPTIM'ICE Consult

Managing director · since 16 mai 2025 · until 16 mai 2031 · 1009.736.544

Represented by ILARI Marc

Active

Sébastien UGONA

Director · since 16 mai 2025 · until 16 mai 2031

Active

Frédéric DARDENNE

Director · since 27 mai 2021 · until 16 mai 2025

Active

Ended mandates

OPTIM'ICE Consult

Managing director · since 17 juin 2024 · until 16 mai 2031 · 1009.736.544

Represented by ILARI MARC

Ended

Frédéric DARDENNE

Director · since 27 mai 2021

Ended

Gautier GERMAINE

Director · since 27 mai 2021 · until 16 mai 2031

Ended

Gautier GERMAINE

Director · since 27 mai 2021

Ended

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	13/07/2026	24/07/2025	02/08/2024	05/07/2023	23/06/2022	16/06/2021
General meeting	15/05/2026	16/05/2025	17/05/2024	19/05/2023	21/04/2022	21/05/2021
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

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	15/05/2026	13/07/2026	French	PDF
Abridged model	31/12/2024	16/05/2025	24/07/2025	French	PDF
Abridged model	31/12/2023	17/05/2024	02/08/2024	French	PDF
Abridged model	31/12/2022	19/05/2023	05/07/2023	French	PDF
Abridged model	31/12/2021	21/04/2022	23/06/2022	French	PDF
Abridged model	31/12/2020	21/05/2021	16/06/2021	French	PDF
Abridged model	31/12/2019	15/05/2020	06/08/2020	French	PDF
Abridged model	31/12/2018	13/03/2019	21/03/2019	French	PDF
Abridged model	31/12/2017	15/07/2018	23/07/2018	French	PDF
Abridged model	31/12/2016	30/06/2017	28/07/2017	French	PDF
Abridged model	31/12/2015	29/06/2016	04/07/2016	French	PDF
Abridged model	31/12/2014	05/06/2015	08/06/2015	French	PDF
Abridged model	31/12/2013	16/05/2014	27/05/2014	French	PDF
Abridged model	31/12/2012	17/05/2013	23/05/2013	French	PDF
Abridged model	31/12/2011	18/05/2012	01/06/2012	French	PDF
Abridged modelCorrection	31/12/2010	20/05/2011	10/10/2011	French	PDF
Abridged model	31/12/2010	20/05/2011	01/08/2011	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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

CONSULFIN

Director · since 16 mai 2025 · until 16 mai 2031 · 1008.347.662

Represented by QUETIN Denis

Active

Gautier GERMAINE

Director · since 16 mai 2025 · until 16 mai 2031

Active

OPTIM'ICE Consult

Managing director · since 16 mai 2025 · until 16 mai 2031 · 1009.736.544

Represented by ILARI Marc

Active

Sébastien UGONA

Director · since 16 mai 2025 · until 16 mai 2031

Active

Frédéric DARDENNE

Director · since 27 mai 2021 · until 16 mai 2025

Active

Ended mandates

OPTIM'ICE Consult

Managing director · since 17 juin 2024 · until 16 mai 2031 · 1009.736.544

Represented by ILARI MARC

Ended

Frédéric DARDENNE

Director · since 27 mai 2021

Ended

Gautier GERMAINE

Director · since 27 mai 2021 · until 16 mai 2031

Ended

Gautier GERMAINE

Director · since 27 mai 2021

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates01/09/2025
DEMISSIONS, NOMINATIONS
PDF
Mandates22/07/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DIVERS - DEMISSIONS, NOMINATIONS
PDF
Mandates24/07/2023
DEMISSIONS, NOMINATIONS
PDF
Mandates14/07/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates16/04/2020
DEMISSIONS, NOMINATIONS
PDF
Capital / shares01/02/2019
CAPITAL, ACTIONS
PDF
Mandates14/07/2016
DEMISSIONS, NOMINATIONS
PDF
Registered office20/02/2012
SIEGE SOCIAL
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 2025-17,6 k €↓
2024
Annual accounts 2024161,8 k €↑
2023
Annual accounts 2023-82,9 k €↓
2022
Annual accounts 2022272,2 k €↓
2021
Annual accounts 2021276,1 k €↑
2020
Annual accounts 2020225,1 k €↑
2019
Annual accounts 2019175,1 k €↓
2018
Annual accounts 2018263,5 k €↑
2017
Annual accounts 2017-336,6 k €↓
2016
Annual accounts 201646,9 k €↓
2015
Annual accounts 201552 k €↑
2014
Annual accounts 2014-13 k €↓
2013
Annual accounts 201361,9 k €↑
2012
Annual accounts 201224,4 k €↑
2011
Annual accounts 201120,1 k €↑
2010
Annual accounts 201012,5 k €
24/06/2010
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

REFRECO

Overview

What does REFRECO do?

Trend over 16 financial years

Indicative valuation

Board of directors

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