ACTIVE

REC

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Financial year 2025 · closed on 30/06/2025

Net result

54,3 k €

+108.7% YoY

Gross margin

102,9 k €

+69.9% YoY

Equity

152,9 k €

+22.5% YoY

What does REC do?

REC is a Private limited company incorporated in 2012. Its main activity is: Development of building projects. Its registered office is in Rixensart.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0844.915.926

Incorporation

02/04/2012

Legal form

Private limited company

Registered office

Avenue Reine Fabiola 8
1330 Rixensart · WallonieSee on map

Contributed capital

12 400,00 €

Latest accounts

30/06/2025

Activities (NACE)

41101Development of building projects· main 68121Buying and selling of own real estate 70200Management consultancy activities 70220Business and other management consultancy activities 73200Market research and public opinion polling 73200Market research and public opinion polling

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 13 financial years

	2025		2024		2023		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Gross margin	102,9 k €	+69.9%	60,6 k €	-10.6%	67,8 k €	+150%	27,1 k €	-54.8%	59,9 k €	+13.2%	52,9 k €	+111%	25,1 k €	+27.6%	19,7 k €	-64.0%	54,7 k €	+45.8%	37,5 k €	-10.8%	42,1 k €	+2.0%	41,3 k €	+81.0%	22,8 k €
EBITDA	101,1 k €	+69.4%	59,7 k €	-9.4%	65,9 k €	+154%	25,9 k €	-55.9%	58,7 k €	+14.3%	51,4 k €	+137%	21,6 k €	+17.1%	18,5 k €	-65.4%	53,5 k €	+46.2%	36,5 k €	+5.7%	34,6 k €	-14.3%	40,3 k €	+82.9%	22,1 k €
Operating result	85,9 k €	+91.0%	45 k €	+121%	20,3 k €	+29.9%	15,7 k €	-68.2%	49,2 k €	+18.0%	41,7 k €	+198%	14 k €	+266%	3,8 k €	+4.3%	3,7 k €	-86.2%	26,6 k €	+7.3%	24,8 k €	-27.6%	34,3 k €	+88.9%	18,1 k €
Net result	54,3 k €	+109%	26 k €	+249%	7,5 k €	-3.2%	7,7 k €	-75.9%	32 k €	+21.8%	26,3 k €	+279%	6,9 k €	+633%	-1,3 k €	+51.0%	-2,7 k €	-115%	17,3 k €	+2.8%	16,8 k €	-40.8%	28,3 k €	+80.9%	15,7 k €
Balance sheet
Equity	152,9 k €	+22.5%	124,9 k €	+11.6%	111,8 k €	+5.5%	106 k €	+7.8%	98,3 k €	+48.2%	66,3 k €	+16.8%	56,7 k €	+13.9%	49,8 k €	-2.5%	51,1 k €	-5.4%	54 k €	+47.0%	36,7 k €	+31.5%	27,9 k €	+91.6%	14,6 k €
Total assets	447,9 k €	+5.5%	424,7 k €	+0.3%	423,5 k €	+69.0%	250,5 k €	-5.3%	264,7 k €	+2.0%	259,5 k €	+9.8%	236,3 k €	-2.1%	241,3 k €	-9.9%	267,8 k €	+185%	94,1 k €	+0.2%	93,9 k €	+23.4%	76,1 k €	+44.1%	52,8 k €
Cash	70,9 k €	+94.0%	36,5 k €	+48.9%	24,5 k €	-49.7%	48,8 k €	+2.7%	47,5 k €	+21.6%	39,1 k €	+77.0%	22,1 k €	+20.7%	18,3 k €	-37.6%	29,3 k €	-40.1%	48,9 k €	+4.7%	46,7 k €	+63.2%	28,6 k €	+63.4%	17,5 k €
Debts	294,9 k €	-1.6%	299,8 k €	-3.8%	311,6 k €	+116%	144,6 k €	-13.1%	166,4 k €	-13.9%	193,2 k €	+7.6%	179,6 k €	-6.2%	191,5 k €	-11.6%	216,7 k €	+440%	40,1 k €	-29.8%	57,1 k €	+18.7%	48,1 k €	+26.0%	38,2 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 1 active · 3 ended

Active mandates

Bruno Vander Sande

Director · since 28 mars 2012

Active

Ended mandates

Bruno VANDER SANDE

Director · since 02 avril 2012

Ended

Bruno VANDER SANDE

Director

Ended

Bruno VANDER SANDE

Manager

Ended

Annual accounts

Full financial information

	2025	2024	2023	2021	2020	2019
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/07/2024	01/07/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	18 months	12 months	12 months	12 months
Filing date	28/01/2026	15/01/2025	29/12/2023	12/07/2022	14/06/2021	06/08/2020
General meeting	02/12/2025	03/12/2024	05/12/2023	09/06/2022	10/06/2021	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

13 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/06/2025	02/12/2025	28/01/2026	French	PDF
Micro model	30/06/2024	03/12/2024	15/01/2025	French	PDF
Micro model	30/06/2023	05/12/2023	29/12/2023	French	PDF
Micro model	31/12/2021	09/06/2022	12/07/2022	French	PDF
Micro model	31/12/2020	10/06/2021	14/06/2021	French	PDF
Micro model	31/12/2019	30/06/2020	06/08/2020	French	PDF
Micro model	31/12/2018	23/08/2019	30/08/2019	French	PDF
Micro model	31/12/2017	29/06/2018	10/07/2018	French	PDF
Micro model	31/12/2016	22/09/2017	27/09/2017	French	PDF
Abridged model	31/12/2015	11/08/2016	23/08/2016	French	PDF
Abridged model	31/12/2014	30/06/2015	26/08/2015	French	PDF
Abridged model	31/12/2013	12/06/2014	23/07/2014	French	PDF
Abridged model	31/12/2012	13/06/2013	30/09/2013	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 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 30/06/2025 · 1 active · 3 ended

Active mandates

Bruno Vander Sande

Director · since 28 mars 2012

Active

Ended mandates

Bruno VANDER SANDE

Director · since 02 avril 2012

Ended

Bruno VANDER SANDE

Director

Ended

Bruno VANDER SANDE

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/01/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - OBJET - DEMISSIONS, NOMINATIONS - ASSEMBLEE GENERALE - ANNEE COMPTABLE
PDF
Registered office05/09/2012
SIEGE SOCIAL
PDF
Other13/04/2012
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

2025
Annual accounts 202554,3 k €↑
2024
Annual accounts 202426 k €↑
2023
Annual accounts 20237,5 k €↓
2021
Annual accounts 20217,7 k €↓
2020
Annual accounts 202032 k €↑
2019
Annual accounts 201926,3 k €↑
2018
Annual accounts 20186,9 k €↑
2017
Annual accounts 2017-1,3 k €↑
2016
Annual accounts 2016-2,7 k €↓
2015
Annual accounts 201517,3 k €↑
2014
Annual accounts 201416,8 k €↓
2013
Annual accounts 201328,3 k €↑
2012
Annual accounts 201215,7 k €
02/04/2012
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

REC

Overview

What does REC do?

Trend over 13 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