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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Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
REX Panels & Profiles from Tournai, company number BE0473823026, closed financial year 2025 with a result of € -7.8 million after tax. For that financial year REX Panels & Profiles recorded revenue of € 63.1 million and equity of € -798,380. Compared with financial year 2024, the result moved from € -5.2 million to € -7.8 million. The company made a loss. 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 July 1, 2026.
€ -798,380
▲ € 4.5 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -7.8 million
▼ 49 % more loss than in 2024
Profit after tax over the fiscal year.
€ 3.1 million
▲ 244% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -16.7 million.
People and assets in 2025
95.8
▲ 30 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.8 million
▲ 46% vs 2024
€ 60,500 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.
€ 8.5 million
▼ 7% vs 2024
Of which on lease € 8.1 million.
Debts at end 2025
€ 44.2 million
▼ 7% vs 2024
€ 4.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 9 years.
€ 9.6 million
▼ 17% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 61 days on average.
€ 772,874
▲ 67% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 63,100,230 | € 57,237,489 | € 57,356,641 | € 63,087,639 | ▲ 10% |
| Profit after taxes | € 828,425 | € -10,580,548 | € -5,246,931 | € -7,826,194 | ▼ € 2.6 million |
| Equity | € 11,122,774 | € 209,454 | € -5,329,527 | € -798,380 | ▲ € 4.5 million |
| Total debts | € 42,556,961 | € 42,754,299 | € 60,513,264 | € 55,134,049 | ▼ 9% |
| Cash | € 3,611,330 | € 948,828 | € 888,907 | € 3,053,574 | ▲ 244% |
| Land & buildings | € 13,615,946 | € 17,190,822 | € 18,723,778 | € 17,952,644 | ▼ 4% |
| Retained profit | € 6,961,943 | € -3,618,605 | € -8,865,537 | € -16,691,730 | ▼ € 7.8 million |
| Bank debt | € 24,097,664 | € 28,715,354 | € 47,791,757 | € 44,212,487 | ▼ 7% |
| Balance sheet total | € 53,683,556 | € 44,658,263 | € 55,677,034 | € 54,891,012 | ▼ 1% |
| Employees (FTE) | 53.1 | 61.1 | 65.8 | 95.8 | ▲ 30 |
Key figures of REX Panels & Profiles, 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 REX Panels & Profiles?
What happened at REX Panels & Profiles in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Collabor BV stepped down as director. NBB
- Pendron BV stepped down as director. NBB
- Stefaan Debusschere stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 7.8 million. Source: NBB ↗
- Stefaan Debusschere became a director. NBB
- Jan Vergote stepped down as director. NBB
- Collabor BV became a director. NBB
- Pendron BV became a director. NBB
In short
From € 828,425 profit in 2022 to € 7.8 million loss in 2025.
Paid € 428,038 in corporate taxes since 2022.
Best year ever: 2022, with € 828,425 profit.
Pays suppliers within 61 days on average.
A new publication or filing at REX Panels & Profiles? 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 stake of RECTICEL, LOTTIN DIETER, MICHEL VERHELST, OMER LEFEVRE TRADING & DISTRIBUTION comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
REX Panels & ProfilesThe shares are held by RECTICEL (100%), LOTTIN DIETER (5%), MICHEL VERHELST and OMER LEFEVRE TRADING & DISTRIBUTION.
Directors
According to the 2025 annual accounts
Stefaan Debusschere
Administrator-manager
since 2026 · until 2029
since 2024 · until 2030
Director · represented by Bart Van den Eede
Also active at: RECTICEL INTERNATIONAL SERVICES, Recticel US Investments
since 2024 · until 2030
Jan Vergote
Director
Also active at: RECTICEL, INNOVATION FUND, LPI Holdco, Thunder Holdco BE, World of Talents
since 2024 · until 2026
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Rue du Mont des Carliers(BL) 4
7522 Tournai
Rue du Grand Carex 7
7503 Tournai
Active since 1 January 2019
Rue du Petit Tilleul 5
7522 Tournai
Active since 1 January 2024
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0473.823.026
- VAT number
- BE 0473.823.026
- Registered office
- Rue du Mont des Carliers(BL) 4, 7522 Tournai
- Names & denominations
- REX Panels & Profiles
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 15 January 2001
- Peppol
- Active · Active since 2 Mar 2026
- Activities · NACE
Vervaardiging van metalen constructiewerken en delen daarvan
Vervaardiging van metalen constructiewerken en onderdelen daarvan
Vervaardiging van ijzer en staal en van ferrolegeringen
Vervaardiging en loopvlakvernieuwing van rubberbanden en vervaardiging van binnenbanden
Groothandel in bouwmaterialen, algemeen assortiment