Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 25 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
!R!5 from Dendermonde, company number BE0712942179, closed financial year 2025 with a result of € 335,386 after tax. For that financial year !R!5 recorded a gross margin of € 217,967 and equity of € 3.5 million. Compared with financial year 2024, the result moved from € 330,055 to € 335,386. Profitable, and profit is growing. 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 January 29, 2026.
€ 3.5 million
▲ 10% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 335,386
▲ 2% vs 2024
Profit after tax over the fiscal year.
€ 29,566
▼ 28% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 3.2 million.
Debts at end 2025
€ 1.7 million
▼ 15% vs 2024
€ 291,137 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 17,786
▲ 20% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 11,409
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 | € 213,738 | € 215,365 | € 213,787 | € 217,967 | ▲ 2% |
| Profit after taxes | € 241,025 | € 235,314 | € 330,055 | € 335,386 | ▲ 2% |
| Equity | € 2,639,207 | € 2,874,521 | € 3,204,575 | € 3,539,961 | ▲ 10% |
| Total debts | € 3,089,846 | € 2,935,296 | € 2,697,133 | € 2,311,527 | ▼ 14% |
| Cash | € 11,881 | € 62,299 | € 41,288 | € 29,566 | ▼ 28% |
| Retained profit | € 2,339,207 | € 2,574,521 | € 2,904,575 | € 3,239,961 | ▲ 12% |
| Bank debt | € 2,558,517 | € 2,274,050 | € 1,965,389 | € 1,662,693 | ▼ 15% |
| Balance sheet total | € 5,729,053 | € 5,809,817 | € 5,901,709 | € 5,851,489 | ▼ 1% |
Key figures of !R!5, 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 January 2027.
What happened to !R!5?
What happened at !R!5 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Cemaur Management & Consulting VOF stepped down as director. NBB
- Frederick Pollet stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 335,386 (▲ 2% vs 2024). Source: NBB ↗
- Cemaur Management & Consulting VOF became a director. NBB
- Frederick Pollet became a director. NBB
- New establishment in Dendermonde. KBO
- Start of the company according to the CBE. KBO
In short
From € 241,025 profit in 2022 to € 335,386 profit in 2025.
Paid € 177,703 in corporate taxes since 2022.
Best year ever: 2025, with € 335,386 profit.
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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
It owns 100% of Italmaster Belgium NV itself.
Directors
According to the 2025 annual accounts
Cemaur Management & Consulting VOF
Director · represented by Michel STAELENS
since 2023 · until 2029
since 2023 · until 2029
Establishments
Establishment units
Physical locations of this company
Bosveld(STG) 2
9200 Dendermonde
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 8 companies are registered at this address.
All companies at this address →PAMO METAALCONSTRUCTIES & ENGINEERING
€ 1.9 million gross margin · 2025
ATH3NA
€ 334,901 gross margin · 2025
VULCANU5 same network
€ 381,604 gross margin · 2025
F!C Invest same network
€ 86,953 gross margin · 2025
N3M35!5 same network
€ 85,132 gross margin · 2025
+3 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
- 0712.942.179
- VAT number
- BE 0712.942.179
- Registered office
- Bosveld(STG) 2, 9200 Dendermonde
- Names & denominations
- !R!5
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 8 November 2018
- Peppol
- Active · Active since 27 Mar 2026
- Contact
- [email protected] 0476454088
- Activities · NACE
Activiteiten van holdings
Holdings