Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Annual account missing NBB
Fiscal year 2022 was expected before 31 July 2023 and has not been filed.
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Board fully replaced NBB
No director from three years ago is still active according to annual account 2021.
Financials
Financial year 2021
RHEA SYSTEM from Waterloo, company number BE0447709339, closed financial year 2021 with a result of € 2.2 million after tax. For that financial year RHEA SYSTEM recorded revenue of € 47.1 million and equity of € 4.7 million. The company is profitable. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 12, 2022.
€ 4.7 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 2.2 million
Profit after tax over the fiscal year.
€ 2.9 million
Cash and bank balances on the last day of the fiscal year.
€ 600,000 paid out
27 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2021
197.5
Average over the fiscal year, from the social balance sheet.
€ 20.2 million
€ 102,300 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.
€ 301,358
Book value of vehicles, furniture and equipment.
Debts at end 2021
€ 1.2 million
Loans from banks and other lenders, long and short.
€ 9.1 million
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 152 days on average.
€ 4 million
Taxes, VAT and social contributions still to pay.
What happened to RHEA SYSTEM?
What happened at RHEA SYSTEM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Emmanuel ADANT stepped down as director. NBB
- Arne MATTHYSSEN stepped down as director. NBB
- André SINCENNES stepped down as director. NBB
- New annual accounts for financial year 2021: profit of € 2.2 million. Source: NBB ↗
- Emmanuel ADANT became a director. NBB
- Arne MATTHYSSEN became a director. NBB
- André SINCENNES became a director. NBB
- New establishment in Waterloo. KBO
In short
Paid € 629,761 in corporate taxes since 2021.
Paid out € 600,000 in dividends to the owners in total.
Pays suppliers within 152 days on average.
Management
Behind RHEA SYSTEM is Michel BOSCO. It owns 100% of RHEA System CZ s.r.o., 100% of RHEA System GmbH, 100% of RHEA Groupe France SAS, 100% of RHEA System Schweiz GmbH, 100% of RHEA Group Technologies and 100% of RHEA Group Cyber Security Services S.A. itself.
Directors
According to the 2021 annual accounts
since 2021 · until 2025
Arne MATTHYSSEN
Director
since 2021 · until 2025
André SINCENNES
Managing director
since 2019 · until 2025
Establishments
Establishment units
Physical locations of this company
Chaussée de Tervuren 60
1410 Waterloo
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 7 companies are registered at this address.
All companies at this address →VERALYN
€ 1.2 million gross margin · 2025
DCR INVEST
€ 72,969 gross margin · 2025
SEIFERT EN CO
€ -36,220 gross margin · 2025
I.D.C. MANAGEMENT
€ 24,581 gross margin · 2025
MONDAY
€ 8,737 gross margin · 2025
+2 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
- 0447.709.339
- VAT number
- BE 0447.709.339
- Registered office
- Chaussée de Tervuren 60, 1410 Waterloo
- Names & denominations
- RHEA SYSTEM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 24 June 1992
- Peppol
- Active · Active since 16 Jan 2026
- Activities · NACE
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