ACTIVE

RECO +

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Financial year 2025 · closed on 31/12/2025

Net result

289,7 k €

+67.1% YoY

Revenue

18,6 M €

+47.4% YoY

Equity

1,5 M €

+24.7% YoY

Workforce

16,7 ETP

+18.4% YoY

What does RECO + do?

RECO + is a Public limited company incorporated in 2004. Its registered office is in Herve. It employs on average 16,7 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0866.062.025

Incorporation

30/06/2004

Legal form

Public limited company

Registered office

Rue de Chesseroux 5
4651 Herve · WallonieSee on map

Contributed capital

61 598,14 €

Latest accounts

31/12/2025

Average workforce

16,7 ETP

Joint committees (2)

Signals

ProfitableLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2007		2006
Income statement
Revenue	18,6 M €	+47.4%	12,6 M €	+14.8%	11 M €	-1.4%	11,1 M €	+76.2%	6,3 M €	-11.0%	7,1 M €	+2.4%	6,9 M €	-13.9%	8,1 M €	-15.3%	9,5 M €	+57.3%	6 M €	-6.1%	6,4 M €	+11.5%	5,8 M €	+25.4%	4,6 M €	+19.6%	3,9 M €	-5.6%	4,1 M €		–		–		–		–
EBITDA	179 k €	-74.5%	701,2 k €	+21.5%	577,1 k €	+8.6%	531,5 k €	+542%	82,8 k €	-90.7%	893,8 k €	+114%	416,9 k €	-57.2%	973,2 k €	-21.8%	1,2 M €	+184%	438,2 k €	-53.5%	941,9 k €	+15.3%	816,7 k €	+0.7%	811 k €	+26.2%	642,8 k €	+37.3%	468,2 k €	+200%	156,1 k €	+127%	68,8 k €	+189%	23,9 k €	+24.2%	19,2 k €
Operating result	89,7 k €	-83.5%	542,9 k €	+15.1%	471,7 k €	+6.0%	445,1 k €	+914%	43,9 k €	-94.9%	862,6 k €	+148%	347,6 k €	-60.5%	879,1 k €	-21.7%	1,1 M €	+236%	333,9 k €	-60.6%	846,6 k €	+14.8%	737,3 k €	+0.4%	734,2 k €	+23.3%	595,4 k €	+36.7%	435,5 k €	+218%	136,9 k €	+178%	49,2 k €	+110%	23,5 k €	+24.7%	18,8 k €
Net result	289,7 k €	+67.1%	173,4 k €	-49.8%	345,5 k €	-21.1%	437,9 k €	+1454%	28,2 k €	-95.7%	653,4 k €	+168%	243,6 k €	-60.7%	619,2 k €	-18.6%	760,4 k €	+215%	241,4 k €	-61.6%	628,1 k €	+29.8%	483,8 k €	-0.1%	484,4 k €	+26.4%	383,2 k €	+34.6%	284,6 k €	+241%	83,5 k €	+219%	26,2 k €	+67.5%	15,6 k €	+24.5%	12,6 k €
Balance sheet
Equity	1,5 M €	+24.7%	1,2 M €	-74.9%	4,7 M €	+8.0%	4,3 M €	+3.3%	4,2 M €	+0.7%	4,2 M €	+18.6%	3,5 M €	+7.4%	3,3 M €	+23.3%	2,7 M €	+40.2%	1,9 M €	+14.6%	1,7 M €	+61.5%	1 M €	+38.4%	738,2 k €	+62.7%	453,8 k €	+123%	203,9 k €	+19.8%	170,3 k €	+96.2%	86,8 k €	+94.1%	44,7 k €	+53.7%	29,1 k €
Total assets	6,3 M €	-27.1%	8,6 M €	+31.8%	6,5 M €	+7.1%	6,1 M €	+23.3%	4,9 M €	-3.4%	5,1 M €	+11.3%	4,6 M €	+1.3%	4,5 M €	+5.7%	4,3 M €	+59.1%	2,7 M €	-5.1%	2,8 M €	+37.6%	2,1 M €	+23.0%	1,7 M €	+8.2%	1,6 M €	+0.1%	1,6 M €	+31.8%	1,2 M €	+235%	351,6 k €	+504%	58,2 k €	-56.2%	132,8 k €
Cash	2,6 M €	+81.3%	1,4 M €	+6.9%	1,3 M €	+58.8%	829 k €	+13.8%	728,4 k €	-43.7%	1,3 M €	+80.5%	716,2 k €	-56.7%	1,7 M €	+22.0%	1,4 M €	+72.9%	784,1 k €	-19.4%	972,5 k €	+76.8%	550 k €	+17.5%	468,2 k €	+17.0%	400,1 k €	+50.1%	266,5 k €	+36.3%	195,5 k €	+328%	45,7 k €	+142%	18,9 k €	+82.2%	10,4 k €
Debts	4,8 M €	-35.5%	7,4 M €	+303%	1,8 M €	+4.5%	1,8 M €	+135%	748,8 k €	-21.5%	953,5 k €	-12.4%	1,1 M €	-14.5%	1,3 M €	-22.8%	1,6 M €	+104%	809 k €	-32.5%	1,2 M €	+14.3%	1 M €	+11.0%	945,1 k €	-14.2%	1,1 M €	-18.4%	1,4 M €	+33.8%	1 M €	+281%	264,8 k €	+2414%	10,5 k €	-89.8%	103,7 k €
Other
Workforce	16,7 ETP	+18.4%	14,1 ETP	0.0%	14,1 ETP	+7.6%	13,1 ETP	+20.2%	10,9 ETP		–		–		–		–		8,6 ETP	+11.7%	7,7 ETP	-1.3%	7,8 ETP	-17.9%	9,5 ETP	+31.9%	7,2 ETP	+24.1%	5,8 ETP	0.0%	5,8 ETP	+11.5%	5,2 ETP	+126%	2,3 ETP	+27.8%	1,8 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 · 1 active · 7 ended

Active mandates

AMO INVEST

Mandate · 0832.120.834

Represented by Xavier LEONARD

Active

Ended mandates

AMO INVEST

Manager · since 01 août 2016 · 0832.120.834

Represented by XAVIER LEONARD

Ended

AMO INVEST

Manager · since 16 décembre 2010 · 0832.120.834

Represented by XAVIER LEONARD

Ended

AMO INVEST

Manager · since 16 décembre 2010 · 0832.120.834

Represented by XAVIER LEONARD

Ended

SEVKET BILIR

Manager · until 12 septembre 2011

Ended

At this address

Other companies at this address

Company	CBE no.
ACOSMA● Active	0754.459.565
AMO INVEST● Active	0832.120.834
AM RECO+ & DIEDERICKXS J● Active	1034.379.987
RECO UNIT● Active	0775.462.540

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full 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	03/07/2026	27/08/2025	22/08/2024	29/08/2023	25/08/2022	24/08/2021
General meeting	08/06/2026	27/05/2025	28/05/2024	23/05/2023	25/05/2022	26/05/2021
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

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	08/06/2026	03/07/2026	French	PDF
Abridged model	31/12/2024	27/05/2025	27/08/2025	French	PDF
Abridged model	31/12/2023	28/05/2024	22/08/2024	French	PDF
Abridged model	31/12/2022	23/05/2023	29/08/2023	French	PDF
Abridged model	31/12/2021	25/05/2022	25/08/2022	French	PDF
Abridged model	31/12/2020	26/05/2021	24/08/2021	French	PDF
Abridged model	31/12/2019	27/05/2020	27/08/2020	French	PDF
Abridged model	31/12/2018	22/05/2019	29/08/2019	French	PDF
Abridged model	31/12/2017	23/05/2018	03/08/2018	French	PDF
Abridged model	31/12/2016	24/05/2017	30/08/2017	French	PDF
Abridged model	31/12/2015	24/05/2016	23/06/2016	French	PDF
Abridged model	31/12/2014	14/05/2015	19/06/2015	French	PDF
Abridged model	31/12/2013	14/05/2014	22/05/2014	French	PDF
Abridged model	31/12/2012	22/02/2013	01/03/2013	French	PDF
Abridged model	31/12/2011	07/03/2012	19/03/2012	French	PDF
Abridged model	31/12/2010	11/02/2011	24/02/2011	French	PDF
Abridged model	31/12/2009	01/03/2010	01/03/2010	French	PDF
Abridged model	31/12/2008	17/02/2009	19/02/2009	French	PDF
Abridged model	31/12/2007	27/05/2008	21/06/2008	French	PDF
Abridged model	31/12/2006	23/05/2007	29/06/2007	French	PDF

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 · 1 active · 7 ended

Active mandates

AMO INVEST

Mandate · 0832.120.834

Represented by Xavier LEONARD

Active

Ended mandates

AMO INVEST

Manager · since 01 août 2016 · 0832.120.834

Represented by XAVIER LEONARD

Ended

AMO INVEST

Manager · since 16 décembre 2010 · 0832.120.834

Represented by XAVIER LEONARD

Ended

AMO INVEST

Manager · since 16 décembre 2010 · 0832.120.834

Represented by XAVIER LEONARD

Ended

SEVKET BILIR

Manager · until 12 septembre 2011

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/05/2026
DEMISSIONS, NOMINATIONS
PDF
Registered office22/02/2024
SIEGE SOCIAL
PDF
Registered office02/03/2023
SIEGE SOCIAL
PDF
Other23/11/2022
OBJET - MODIFICATION FORME JURIDIQUE
PDF
Capital / shares23/06/2021
CAPITAL, ACTIONS
PDF
Mandates30/03/2021
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates27/09/2011
DEMISSIONS, NOMINATIONS
PDF
Mandates11/01/2011
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
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 2025289,7 k €↑
2024
Annual accounts 2024173,4 k €↓
2023
Annual accounts 2023345,5 k €↓
2022
Annual accounts 2022437,9 k €↑
2021
Annual accounts 202128,2 k €↓
2020
Annual accounts 2020653,4 k €↑
2019
Annual accounts 2019243,6 k €↓
2018
Annual accounts 2018619,2 k €↓
2017
Annual accounts 2017760,4 k €↑
2016
Annual accounts 2016241,4 k €↓
2015
Annual accounts 2015628,1 k €↑
2014
Annual accounts 2014483,8 k €↓
2013
Annual accounts 2013484,4 k €↑
2012
Annual accounts 2012383,2 k €↑
2011
Annual accounts 2011284,6 k €↑
2010
Annual accounts 201083,5 k €↑
2009
Annual accounts 200926,2 k €↑
2007
Annual accounts 200715,6 k €↑
2006
Annual accounts 200612,6 k €
30/06/2004
IncorporationPublic 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

RECO +

Overview

What does RECO + do?

Trend over 19 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