Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 20.5 to 4.3.
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Busy address KBO
20 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
RECTICEL INTERNATIONAL SERVICES from Brussel, company number BE0428343981, closed financial year 2025 with a result of € 227,822 after tax. Compared with financial year 2024, the result moved from € -7,540 to € 227,822. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 13, 2026.
€ 9 million
▲ 3% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 227,822
▲ still € 7,540 loss in 2024
Profit after tax over the fiscal year.
€ 21.8 million
▼ 27% 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 € 1 million.
People and assets in 2025
4.3
▼ 6.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.3 million
▼ 63% vs 2024
€ 309,800 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.
Debts at end 2025
€ 38.4 million
▼ 45% vs 2024
Loans from banks and other lenders, long and short.
€ 272,183
▼ 10% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 58 days on average.
€ 108,225
▼ 73% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € 987,223 | € 2,259,696 | € -7,540 | € 227,822 | ▲ € 235,362 |
| Equity | € 78,383,530 | € 43,998,096 | € 8,730,860 | € 8,958,682 | ▲ 3% |
| Total debts | € 353,786,225 | € 131,862,228 | € 70,836,623 | € 38,839,958 | ▼ 45% |
| Cash | € 3,923,850 | € 10,213,678 | € 29,699,717 | € 21,827,588 | ▼ 27% |
| Retained profit | € 40,439,530 | € 6,054,096 | € 786,860 | € 1,014,682 | ▲ 29% |
| Dividend | € 0 | € 36,645,130 | € 5,259,696 | € 0 | ▼ 100% |
| Bank debt | € 350,430,863 | € 129,659,251 | € 70,081,283 | € 38,388,743 | ▼ 45% |
| Balance sheet total | € 432,214,248 | € 175,860,323 | € 80,289,913 | € 47,800,580 | ▼ 40% |
| Employees (FTE) | 26.7 | 20.5 | 10.5 | 4.3 | ▼ 6.2 |
Key figures of RECTICEL INTERNATIONAL SERVICES, 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 RECTICEL INTERNATIONAL SERVICES?
What happened at RECTICEL INTERNATIONAL SERVICES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jan VERGOTE stepped down as director. NBB
- PENDRON BV stepped down as director. NBB
- ROFFOELKIN SRL stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 227,822. Source: NBB ↗
- Koen VAN UFFELEN stepped down as director. NBB
- PENDRON BV became a director. NBB
- New establishment in Gent. KBO
- Koen VAN UFFELEN became a director. NBB
In short
From € 987,223 profit in 2022 to € 227,822 profit in 2025.
Paid € 1.2 million in corporate taxes since 2022.
Best year ever: 2023, with € 2.3 million profit.
Paid out € 41.9 million in dividends to the owners in total.
A new publication or filing at RECTICEL INTERNATIONAL SERVICES? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by RECTICEL SA (100%) and RECTICEL B.V (0.1%). It owns 0% of Recticel B.V. and 0% of BALIM itself.
Directors
According to the 2025 annual accounts
Director · represented by Bart Van den Eede
Also active at: REX Panels & Profiles, Recticel US Investments
since 2024 · until 2027
Jan VERGOTE
Managing director
Also active at: Merlin Holdco, PIAGROUP International, CORAL & WALLACE, Atreus Ventures, Recticel US Investments
since 2023 · until 2028
Director · represented by Dirk VERBRUGGEN
since 2021 · until 2027
Shareholders
100%
RECTICEL B.V
0.1%
Participations
Recticel B.V.
0%
0%
Establishments
Establishment units
Physical locations of this company
Bourgetlaan 42
1130 Brussel
Jean-Baptiste de Ghellincklaan 27-29
9051 Gent
Active since 1 April 2024
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 20 companies are registered at this address.
All companies at this address →Finapal same network
RECTICEL same network
€ 128.3 million revenue · 2025
International Business Machines of Belgium
BALIM same network
YSL BEAUTE BENELUX
+15 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
COMBELL-AS, BE
Domain
Domain
recticel.com
Registered
1996-11-18
Registrar
EuroDNS S.A.
Expires
2026-11-17
Website info
Features
Security
Details
- Company number
- 0428.343.981
- VAT number
- BE 0428.343.981
- Registered office
- Bourgetlaan 42, 1130 Brussel
- Names & denominations
- RECTICEL INTERNATIONAL SERVICES
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 14 January 1986
- Peppol
- Active · Active since 8 Dec 2025
- Contact
- recticel.com
- Activities · NACE
Activiteiten van hoofdkantoren
Coördinatiecentra