Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Figures corrected NBB
Corrected annual account filed for 2024.
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Busy address KBO
21 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
R-GROUP Holding from Liège, company number BE0538922201, closed financial year 2025 with a result of € -536,441 after tax. For that financial year R-GROUP Holding recorded revenue of € 856,455 and equity of € 11.1 million. Compared with financial year 2024, the result moved from € -495,446 to € -536,441. The company made a loss. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 10, 2026.
€ 11.1 million
▲ € 10 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -536,441
▼ 8 % more loss than in 2024
Profit after tax over the fiscal year.
€ 638
▼ 89% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -867,680.
People and assets in 2025
23.5
▼ 1.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.6 million
▲ 7% vs 2024
€ 66,200 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.
€ 63,420
▼ 22% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 10.9 million
▲ 3% vs 2024
€ 990,205 is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 4.2 million
▲ 85% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 278 days on average.
€ 152,608
▼ 75% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 2,313,626 | € 120,758 | € 916,799 | € 856,455 | ▼ 7% |
| Profit after taxes | € 61,134 | € -23,447 | € -495,446 | € -536,441 | ▼ € 40,995 |
| Equity | € 2,612,866 | € 1,622,418 | € 1,126,972 | € 11,090,522 | ▲ € 10 million |
| Total debts | € 6,871,433 | € 9,277,949 | € 19,177,475 | € 20,174,559 | ▲ 5% |
| Cash | € 1,454,407 | € 432,145 | € 5,556 | € 638 | ▼ 89% |
| Land & buildings | € 480,227 | € 479,415 | € 417,982 | € 356,549 | ▼ 15% |
| Retained profit | € 1,154,655 | € 164,208 | € -331,239 | € -867,680 | ▼ € 536,441 |
| Dividend | € 0 | € 967,000 | € 0 | € 0 | |
| Bank debt | € 5,252,537 | € 4,718,062 | € 10,558,803 | € 10,926,828 | ▲ 3% |
| Balance sheet total | € 9,484,299 | € 10,900,367 | € 20,304,447 | € 31,265,082 | ▲ 54% |
| Employees (FTE) | 18.3 | 21 | 24.7 | 23.5 | ▼ 1.2 |
Key figures of R-GROUP Holding, 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 R-GROUP Holding?
What happened at R-GROUP Holding in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- EODEN RESSOURCES SAS stepped down as director. NBB
- MELCHA SRL stepped down as director. NBB
- Patrick RENARD stepped down as director. NBB
- Fabien GUIDALI stepped down as director. NBB
- Ardent Energy SA stepped down as director. NBB
- Ardent Invest SA stepped down as director. NBB
- RENO-ISOL SRL stepped down as director. NBB
- BEWATT SRL stepped down as director. NBB
In short
From € 61,134 profit in 2022 to € 536,441 loss in 2025.
Paid € 65,478 in corporate taxes since 2022.
Best year ever: 2022, with € 61,134 profit.
Paid out € 967,000 in dividends to the owners in total.
A new publication or filing at R-GROUP Holding? 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 RENO-ISOL, ECOTIP, NOSHAQ, BEWATT comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
R-GROUP HoldingThe shares are held by RENO-ISOL (43.9%), ECOTIP (30%), NOSHAQ (12.1%) and BEWATT (8.1%). It owns 100% of RENO.ENERGY VLAANDEREN, 100% of SUNGEVITY BELGIUM, 100% of RENO.ENERGY, 100% of ERNERGY VILLAGE IMMO, 70% of E-NOVA and 60% of MILLIOT GREEN itself.
Directors
According to the 2025 annual accounts
Director · represented by Nicolas ELAHMI
since 2025 · until 2031
Director · represented by TYREKIDIS Joanna
Also active at: CAUTION MUTUELLE DES METIERS ET NEGOCES, Fonderies J. Marichal Ketin et Cie, DARDENNE, SOGECOM, VITAVERDE.BIO, HAEMERS Technologies, SPACEBEL, NOSHAQ VENTURE +169 more
since 2023 · until 2025
Chairman of the board · represented by HANNEQUART Clément
Also active at: Sungevity Belgium, Energy Village Immo, E-NOVA, RENO.ENERGY VLAANDEREN
since 2025 · until 2031
Patrick RENARD
Director
since 2025 · until 2031
Julien DOR
Director
since 2023 · until 2025
Fabien GUIDALI
Director
since 2025 · until 2031
Director · represented by PARIS Nicolas
since 2025 · until 2031
Managing director · represented by THONNART Henri
Also active at: GROUP S, ELOY GROUP, Sungevity Belgium, Energy Village Immo, E-NOVA, RENO.ENERGY, RENO.ENERGY VLAANDEREN
since 2025 · until 2029
Raphaël PIETTEUR
Director
since 2023 · until 2025
Director · represented by SMET Didier
Also active at: TILKIN SPORTS, FABY, BODSON - TROUPIN - SERVICE, D.A. GESTION, IMMO CIRCUS WALLONIE, GUILLEMINS REAL ESTATE, WE INVEST REAL ESTATE, BELGRET +18 more
since 2025 · until 2031
Director · represented by HANNEQUART Clément
Also active at: Sungevity Belgium, E-NOVA, DYNAMIA INVEST, MAISON VICTOR, RENO.ENERGY VLAANDEREN
since 2023 · until 2025
Director · represented by KNAUF Axel
Also active at: BUILDINN, TRAMEX BELGIUM, DYNAMIA INVEST
since 2025 · until 2031
Director · represented by VANDERSCHUEREN Bruno
Also active at: Watt Matters, BSTOR, Alix, ESTOR-LUX, WATT MATTERS TWO, Junction Growth Partners, Estor-Lux II, BV SQUARE +2 more
since 2025 · until 2031
Participations
100%
100%
100%
70%
MILLIOT GREEN
60%
Establishments
Establishment units
Physical locations of this company
Rue de Tilff 277
4031 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 21 companies are registered at this address.
All companies at this address →INVEST & CORPORATE
€ 187,406 gross margin · 2024
Sungevity Belgium same network
€ 865,834 gross margin · 2025
TILT
€ 3,995 gross margin · 2024
LJ CONSTRUCTIONS
€ 211,796 gross margin · 2024
SM ECO-RESIDENCE MEAN
+16 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
- 0538.922.201
- VAT number
- BE 0538.922.201
- Registered office
- Rue de Tilff 277, 4031 Liège
- Names & denominations
- R-GROUP Holding
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 25 September 2013
- Peppol
- Active · Active since 21 Mar 2024
- Activities · NACE
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