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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Tight liquidity NBB
Cash and receivables cover 33 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
RF PROJECTS from Waregem, company number BE0508724022, closed financial year 2025 with a result of € 22,110 after tax. For that financial year RF PROJECTS recorded a gross margin of € 90,575 and equity of € 75,818. Compared with financial year 2024, the result moved from € 2,209 to € 22,110. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on February 27, 2026.
€ 75,818
▲ 13% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 22,110
▲ € 19,901 vs 2024
Profit after tax over the fiscal year.
€ 21,353
▼ 70% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 8,010 paid out
36 % of the profit went to the shareholders, the rest stayed in the company.
People and assets in 2025
€ 9,462
▲ € 9,116 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 358,842
▲ 24% vs 2024
€ 26,259 is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 2,138
▼ 84% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 2,857
▼ 79% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 41,755 | € 40,162 | € 57,742 | € 90,575 | ▲ 57% |
| Profit after taxes | € 16,217 | € 14,795 | € 2,209 | € 22,110 | ▲ € 19,901 |
| Equity | € 94,271 | € 107,466 | € 66,918 | € 75,818 | ▲ 13% |
| Total debts | € 249,374 | € 191,024 | € 423,737 | € 466,295 | ▲ 10% |
| Cash | € 84,605 | € 49,870 | € 71,719 | € 21,353 | ▼ 70% |
| Land & buildings | € 241,353 | € 230,767 | € 394,044 | € 485,506 | ▲ 23% |
| Retained profit | € 88,071 | € 101,266 | € 60,718 | € 74,818 | ▲ 23% |
| Dividend | € 86,939 | € 1,600 | € 42,757 | € 8,010 | ▼ 81% |
| Bank debt | € 106,920 | € 96,618 | € 289,313 | € 358,842 | ▲ 24% |
| Balance sheet total | € 343,645 | € 298,490 | € 490,656 | € 542,114 | ▲ 10% |
Key figures of RF PROJECTS, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to RF PROJECTS?
What happened at RF PROJECTS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 22,110 (▲ € 19,901 vs 2024). Source: NBB ↗
- New establishment in Waregem. KBO
- Start of the company according to the CBE. KBO
- Frederik Raes became a director. NBB
In short
From € 16,217 profit in 2022 to € 22,110 profit in 2025.
Paid € 24,010 in corporate taxes since 2022.
Best year ever: 2025, with € 22,110 profit.
Paid out € 139,306 in dividends to the owners in total.
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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
Directors
According to the 2025 annual accounts
Frederik Raes
Director
since 2012
Establishments
Establishment units
Physical locations of this company
Driesstraat 13
8790 Waregem
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0508.724.022
- VAT number
- BE 0508.724.022
- Registered office
- Driesstraat 13, 8790 Waregem
- Names & denominations
- RF PROJECTS
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 26 December 2012
- Peppol
- Active · Active since 30 Oct 2023
- Activities · NACE
Algemene elektrotechnische installatiewerken
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen
Installatie van isolatie
Dakwerkzaamheden
Plaatsen van vloer- en wandtegels
Installatie van verwarming, klimaatregeling, koeling en ventilatie aangedreven door elektriciteit
Sanitaire werkzaamheden
Isolatiewerkzaamheden