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 22 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Ref.lex from Grimbergen, company number BE0723851513, closed financial year 2025 with a result of € 168,824 after tax. For that financial year Ref.lex recorded a gross margin of € 235,915 and equity of € 20,460. Compared with financial year 2024, the result moved from € 317,867 to € 168,824. The company is profitable. The buffer shrank hard: equity is 96 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 7, 2026.
€ 20,460
▼ 96% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 168,824
▼ 47% vs 2024
Profit after tax over the fiscal year.
€ 54,387
▼ 80% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 667,553 paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
€ 1,230
▼ 59% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 9,010
▲ 52% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 47,731
▲ € 38,310 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 | € 211,097 | € 173,680 | € 320,596 | € 235,915 | ▼ 26% |
| Profit after taxes | € 148,619 | € 141,669 | € 317,867 | € 168,824 | ▼ 47% |
| Equity | € 553,252 | € 201,322 | € 519,189 | € 20,460 | ▼ 96% |
| Total debts | € 29,197 | € 570,447 | € 15,647 | € 642,591 | ▲ € 626,943 |
| Cash | € 108,275 | € 184,934 | € 274,640 | € 54,387 | ▼ 80% |
| Retained profit | € 547,052 | € 182,722 | € 500,589 | € 1,860 | ▼ € 498,729 |
| Dividend | € 0 | € 506,000 | € 0 | € 667,553 | |
| Bank debt | € 0 | € 0 | € 299 | € 0 | ▼ 100% |
| Balance sheet total | € 582,449 | € 771,769 | € 534,836 | € 663,051 | ▲ 24% |
Key figures of Ref.lex, 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 Ref.lex?
What happened at Ref.lex in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 168,824 (▼ 47% vs 2024). Source: NBB ↗
- Astrid Rahn became a director. NBB
- New establishment in Grimbergen. KBO
- Johan Van de Velde became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 148,619 profit in 2022 to € 168,824 profit in 2025.
Paid € 231,887 in corporate taxes since 2022.
Best year ever: 2024, with € 317,867 profit.
Paid out € 1.2 million 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
Behind Ref.lex are Astrid Rahn and Johan Van de Velde. Astrid Rahn is also behind RECTICEL. Johan Van de Velde is also behind INTERNATIONAL ENGINEERING SURVEY COMPANY.
Directors
According to the 2025 annual accounts
since 2025
since 2019
Establishments
Establishment units
Physical locations of this company
Cederlaan 13
1851 Grimbergen
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0723.851.513
- VAT number
- BE 0723.851.513
- Registered office
- Cederlaan 13, 1851 Grimbergen
- Names & denominations
- Ref.lex
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 1 April 2019
- Peppol
- Active · Active since 18 Jul 2025
- Activities · NACE
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