Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
Financials
Financial year 2025
RCO from Namur, company number BE0411571592, closed financial year 2025 with a result of € 8,981 after tax. For that financial year RCO recorded a gross margin of € 232,264 and equity of € -154,639. Compared with financial year 2024, the result moved from € -259,876 to € 8,981. Profitable, and profit is growing. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on March 25, 2026.
€ -154,639
▲ € 8,832 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 8,981
▲ still € 259,876 loss in 2024
Profit after tax over the fiscal year.
€ 11,968
▲ € 11,771 vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -229,007.
People and assets in 2025
3.5
Average over the fiscal year, from the social balance sheet.
€ 168,836
▲ 8% vs 2024
€ 48,200 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 54,194
▼ 25% vs 2024
Of which on lease € 37,589.
Debts at end 2025
€ 493,343
▲ 16% vs 2024
€ 17,002 is repaid this year. At this pace the long-term loan is gone in ≈ 15 years.
€ 98,180
▼ 41% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 75,455
▲ 167% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 130,843 | € 142,411 | € -35,966 | € 232,264 | ▲ € 268,230 |
| Profit after taxes | € 3,693 | € 4,945 | € -259,876 | € 8,981 | ▲ € 268,857 |
| Equity | € 91,460 | € 96,405 | € -163,471 | € -154,639 | ▲ € 8,832 |
| Total debts | € 334,741 | € 691,210 | € 618,992 | € 693,483 | ▲ 12% |
| Cash | € 24,190 | € 121,217 | € 198 | € 11,968 | ▲ € 11,771 |
| Retained profit | € 17,092 | € 22,037 | € -237,839 | € -229,007 | ▲ € 8,832 |
| Bank debt | € 133,516 | € 177,228 | € 423,706 | € 493,343 | ▲ 16% |
| Balance sheet total | € 426,201 | € 787,615 | € 455,521 | € 538,844 | ▲ 18% |
| Employees (FTE) | 2.2 | 2.8 | 3.5 | 3.5 |
Key figures of RCO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to RCO?
What happened at RCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 8,981. Source: NBB ↗
- Mathieu CASALE became a director. NBB
- FC4U became a director. NBB
- Laura CASALE became a director. NBB
- Manage-Men became a director. NBB
- New establishment in Namur. KBO
- Vincent GERLACHE became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 3,693 profit in 2022 to € 8,981 profit in 2025.
Paid € 14,683 in corporate taxes since 2022.
Best year ever: 2025, with € 8,981 profit.
On average € 66,400 of value added per employee in 2025.
Management
Behind RCO are Mathieu CASALE, FC4U, Laura CASALE, Manage-Men and Vincent GERLACHE. The shares are held by AKXIO (85%) and Vincent GERLACHE (15%).
Directors
According to the 2025 annual accounts
Mathieu CASALE
Director, Managing director
Also active at: AKXIO GREEN, IMMO MALA, AKXIO IT, IMMO MCB
since 2025
since 2025
Director · represented by Eric GRYSON
Also active at: AKXIO GREEN, AKXIO DIGITAL, AKXIO IT
since 2025
Vincent GERLACHE
Managing director, Director
since 2005
Shareholders
85%
Vincent GERLACHE
15%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Chaussée de Marche(WD) 799
5100 Namur
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.
All companies at this address →AKXIO GREEN same network
€ 96,141 gross margin · 2025
AKXIO DIGITAL same network
€ 3.2 million gross margin · 2025
IMMO MALA same network
€ 46,487 gross margin · 2025
AKXIO IT same network
€ 3.4 million gross margin · 2025
ASSOC LMC
€ -1,081 gross margin · 2025
+1 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0411.571.592
- VAT number
- BE 0411.571.592
- Registered office
- Chaussée de Marche(WD) 799, 5100 Namur
- Names & denominations
- RCO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 1 July 1971
- Peppol
- Active · Active since 6 Feb 2026
- Activities · NACE
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