Financials
Financial year 2025
MOREHOUSE REFCO from Malle, company number BE0433517942, closed financial year 2025 with a result of € -849,556 after tax. For that financial year MOREHOUSE REFCO recorded a gross margin of € -243,687 and equity of € 905,366. Compared with financial year 2024, the result moved from € 46,774 to € -849,556. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 30, 2026.
€ 905,366
▼ 34% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -849,556
▼ still € 46,774 profit in 2024
Profit after tax over the fiscal year.
€ 301,406
▲ € 274,558 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -400,254.
People and assets in 2025
7.7
▼ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 426,977
▼ 8% vs 2024
€ 55,500 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.
€ 17,851
▼ 43% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 922,887
▲ 3% vs 2024
€ 152,329 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 197,969
▲ 148% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 64,526
▼ 11% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 592,566 | € 580,939 | € 691,367 | € -243,687 | ▼ € 935,054 |
| Profit after taxes | € -80,165 | € -99,243 | € 46,774 | € -849,556 | ▼ € 896,329 |
| Equity | € 563,771 | € 1,333,148 | € 1,379,922 | € 905,366 | ▼ 34% |
| Total debts | € 1,941,845 | € 1,017,776 | € 1,066,089 | € 1,201,300 | ▲ 13% |
| Cash | € 107,663 | € 49,144 | € 26,848 | € 301,406 | ▲ € 274,558 |
| Retained profit | € 501,771 | € 402,528 | € 449,302 | € -400,254 | ▼ € 849,556 |
| Bank debt | € 1,599,555 | € 735,867 | € 897,440 | € 922,887 | ▲ 3% |
| Balance sheet total | € 2,567,707 | € 2,399,860 | € 2,499,392 | € 2,130,543 | ▼ 15% |
| Employees (FTE) | 9.9 | 8.2 | 8.2 | 7.7 | ▼ 0.5 |
Key figures of MOREHOUSE REFCO, 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 MOREHOUSE REFCO?
What happened at MOREHOUSE REFCO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- VELINO INVEST NV stepped down as director. NBB
- IMPROFINI BV stepped down as director. NBB
- MAQUONI DEVELOPMENT BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 849,556 (▼ € 896,329 vs 2024). Source: NBB ↗
- VELINO INVEST NV became a director. NBB
- IMPROFINI BV became a director. NBB
- MAQUONI DEVELOPMENT BV became a director. NBB
- New establishment in Malle. KBO
In short
From € 80,165 loss in 2022 to € 849,556 loss in 2025.
Best year ever: 2024, with € 46,774 profit.
On average € 84,300 of value added per employee in 2024.
Management
The stake of VELINO INVEST comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
MOREHOUSE REFCOThe shares are held by VELINO INVEST (80%).
Directors
According to the 2025 annual accounts
Managing director · represented by KIM VAN HOUDT
since 2025 · until 2031
since 2025 · until 2031
Director · represented by MAXIM DEROO
since 2025 · until 2031
Shareholders
80%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Ambachtsstraat 16
2390 Malle
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →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
Website info
Features
Security
Details
- Company number
- 0433.517.942
- VAT number
- BE 0433.517.942
- Registered office
- Ambachtsstraat 16, 2390 Malle
- Names & denominations
- MOREHOUSE REFCO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 29 February 1988
- Peppol
- Active · Active since 21 Oct 2026
- Contact
- refco.be +32 3 309 25 26
- Activities · NACE
Vervaardiging van stalen buizen
Vervaardiging van buizen, pijpen, holle profielen en fittings daarvoor, van staal
Vervaardiging van machines en apparaten voor klimaatregeling, voor niet-huishoudelijk gebruik
Vervaardiging van uitrusting voor de koeltechniek en klimaatregeling, voor niet-huishoudelijk gebruik
Verspanend bewerken van metalen
Algemene metaalbewerking