ANDRE CORNET - ELECT
ActiveFinancials · financial year 2026, full format
Annual accounts 2026 filed on 25-10-2026 at the NBB all 35 filings
Turnover
≈ €670,000
Estimated: probably between €340,000 and €1.2m
EBIT margin
Not included in this filing
Net result
€65,058▲ 15.4%
2025 · €56,383
Working capital
€256,529▲ 21.2%
2025 · €211,667
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€97,361
▲ 8.5%
2026
20192026
Net result
€65,058
▲ 15.4%
2026
20192026
Equity
€263,357
▲ 32.8%
2026
20192026
Total assets
€490,047
▼ 2.5%
2026
20192026
Debt
€226,691
▼ 25.5%
2026
20192026
Working capital
€256,529
▲ 21.2%
2026
20192026
Solvency
53.7%
▲ 14.3pp
2026
20192026
Current ratio
2.17
▲ 0.37
2026
20192026
Return on assets (ROA)
13.3%
▲ 2.1pp
2026
20192026
Staff (FTE)
0.3
=
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€20,348-€12,231▼ 39.9%€79,052▲ 546%€84,398▲ 6.8%€86,152▲ 2.1%€103,347▲ 20.0%€89,722▼ 13.2%€97,361▲ 8.5%
Net result€11,887-€4,218▼ 64.5%€52,057within the sector's middle half▲ 12×€55,626within the sector's middle half▲ 6.9%€54,965within the sector's middle half▼ 1.2%€67,332within the sector's middle half▲ 22.5%€56,383within the sector's middle half▼ 16.3%€65,058▲ 15.4%
Equity€395,719-€192,014below the sector's middle half€172,640below the sector's middle half▼ 10.1%€174,605below the sector's middle half▲ 1.1%€191,937below the sector's middle half▲ 9.9%€198,299below the sector's middle half▲ 3.3%€263,357▲ 32.8%
Total assets€502,184-€442,989▼ 11.8%€568,016below the sector's middle half▲ 28.2%€621,262below the sector's middle half▲ 9.4%€562,134below the sector's middle half▼ 9.5%€556,985below the sector's middle half▼ 0.9%€502,685below the sector's middle half▼ 9.7%€490,047▼ 2.5%
Debt€106,465-€303,052▲ 185%€376,002▲ 24.1%€448,622▲ 19.3%€387,529▼ 13.6%€365,048▼ 5.8%€304,386▼ 16.6%€226,691▼ 25.5%
Working capital€393,324-€299,824▼ 23.8%€318,783within the sector's middle half▲ 6.3%€260,422within the sector's middle half▼ 18.3%€239,211within the sector's middle half▼ 8.1%€232,880within the sector's middle half▼ 2.6%€211,667within the sector's middle half▼ 9.1%€256,529▲ 21.2%
Solvency78.8%-33.8%within the sector's middle half27.8%within the sector's middle half▼ 6.0pp31.1%within the sector's middle half▲ 3.3pp34.5%within the sector's middle half▲ 3.4pp39.4%within the sector's middle half▲ 5.0pp53.7%▲ 14.3pp
Current ratio4.70-3.33▼ 1.372.47within the sector's middle half▼ 0.861.81within the sector's middle half▼ 0.661.85within the sector's middle half▲ 0.051.79within the sector's middle half▼ 0.071.80within the sector's middle half▲ 0.022.17▲ 0.37
Return on assets (ROA)2.4%-1.0%▼ 1.4pp9.2%within the sector's middle half▲ 8.2pp9.0%within the sector's middle half▼ 0.2pp9.8%above the sector's middle half▲ 0.8pp12.1%above the sector's middle half▲ 2.3pp11.2%above the sector's middle half▼ 0.9pp13.3%▲ 2.1pp
Staff (FTE)2-1▼ 50.0%0.9below the sector's middle half0.9below the sector's middle half=1below the sector's middle half▲ 11.1%0.3below the sector's middle half▼ 70.0%0.3=
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2026 is 9% higher than in 2025. It is a recovery after the fall in 2025.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €490,047
Fixed assets
€14,431 ▼ 48.4%
Current assets
€475,616 ▲ 0.2%
Equity and liabilities €490,047
Equity
€263,357 ▲ 32.8%
Debt
€226,691 ▼ 25.5%
Debt's share of the balance-sheet total falls from 60.6% to 46.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€112,539▲
2025 · €102,291
Cash flow
€80,235▲
2025 · €68,952
Quick ratio
1.27▲
2025 · 1.11
Debt to equity
0.86▼
2025 · 1.53
ROE
24.7%▼
2025 · 28.4%
Interest coverage
16.34▲
2025 · 9.82
Debt ≤ 1 year
€219,087▼
2025 · €263,072
Debt > 1 year
€7,604▼
2025 · €41,314
Income taxes
€25,414▲
2025 · €22,923
Staff costs
€1,815▼
2025 · €3,581
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | - | - |
| full-time | 1 | 1 | 1 | - | - |
| in full-time equivalents | 1 | 1 | 1 | - | - |
| Average over the year, in full-time equivalents | 0.9 | 0.9 | 1 | 0.3 | 0.3 |
| Joined | 1 | 1 | 1 | 0 | 1 |
| Left | 0 | 1 | 1 | 1 | 1 |
| Training hours | - | - | 888 | - | 322 |
Source: social balance sheet in the 2022 to 2026 annual accounts
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €13,539 | €17,791 | - | €20,196 | €1,663 |
| Financial fixed assets | €175 | - | - | - | - |
| Depreciation and write-downs of the year | €8,005 | €13,320 | €14,136 | €12,569 | €15,178 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €49,839 | - | €5,494 | €4,883 | €11,368 | €3,581 | €1,815 | ▼ 49.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,241 | €4,423 | €4,701 | €8,005 | €13,320 | €14,136 | €12,569 | €15,178 | ▲ 20.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €54,561 | - | €2,972 | €1,163 | €13,241 | €15,299 | €15,170 | ▼ 0.8% |
| Other operating charges640/8 | - | €2,459 | - | €1,420 | €3,234 | €3,609 | €4,534 | €1,533 | ▼ 66.2% |
| Gross operating margin9900 | €114,606 | €123,513 | €98,335 | €102,289 | €108,751 | €145,700 | €125,705 | €131,057 | ▲ 4.3% |
| Operating profit (loss)9901 | €20,348 | €12,231 | €79,052 | €84,398 | €86,152 | €103,347 | €89,722 | €97,361 | ▲ 8.5% |
| Financial income75/76B | - | €1,831 | - | €1,443 | €30 | €185 | - | - | - |
| Recurring financial income75 | €2,467 | €1,831 | €1,974 | €1,443 | €30 | €185 | - | - | - |
| Financial charges65/66B | - | €7,286 | - | €10,630 | €10,248 | €10,884 | €10,416 | €6,889 | ▼ 33.9% |
| Recurring financial charges65 | €3,350 | €7,286 | €12,456 | €10,630 | €10,248 | €10,884 | €10,416 | €6,889 | ▼ 33.9% |
| Profit (loss) for the period before taxes9903 | €15,649 | €6,776 | €68,570 | €75,211 | €75,935 | €92,647 | €79,306 | €90,471 | ▲ 14.1% |
| Income taxes67/77 | €3,762 | €2,558 | €16,513 | €19,585 | €20,970 | €25,315 | €22,923 | €25,414 | ▲ 10.9% |
| Profit (loss) for the period9904 | €11,887 | €4,218 | €52,057 | €55,626 | €54,965 | €67,332 | €56,383 | €65,058 | ▲ 15.4% |
| Profit (loss) for the period to be appropriated9905 | €11,887 | €4,218 | €52,057 | €55,626 | €54,965 | €67,332 | €56,383 | €65,058 | ▲ 15.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €502,184 | €442,989 | €568,016 | €621,262 | €562,134 | €556,985 | €502,685 | €490,047 | ▼ 2.5% |
| Fixed assets21/28 | €2,449 | €14,289 | €32,386 | €38,095 | €42,566 | €28,430 | €27,947 | €14,431 | ▼ 48.4% |
| Tangible fixed assets22/27 | €2,269 | €14,289 | €32,386 | €37,920 | €42,391 | €28,255 | €27,772 | €14,256 | ▼ 48.7% |
| Plant, machinery and equipment23 | - | €1,489 | - | €757 | €490 | €223 | €44 | - | - |
| Furniture and vehicles24 | - | €12,800 | - | €6,512 | €18,305 | €11,491 | €18,241 | €11,825 | ▼ 35.2% |
| Other tangible fixed assets26 | - | - | - | €30,651 | €23,596 | €16,541 | €9,486 | €2,431 | ▼ 74.4% |
| Financial fixed assets28 | €180 | - | - | €175 | €175 | €175 | €175 | €175 | = |
| Current assets29/58 | €499,735 | €428,700 | €535,630 | €583,167 | €519,568 | €528,555 | €474,739 | €475,616 | ▲ 0.2% |
| Stocks and contracts in progress3 | €290,425 | €204,042 | €157,298 | €194,681 | €240,864 | €273,603 | €183,888 | €197,621 | ▲ 7.5% |
| Stocks30/36 | - | €204,042 | - | €194,681 | €240,864 | €273,603 | €183,888 | €197,621 | ▲ 7.5% |
| Amounts receivable within one year40/41 | €144,293 | €50,282 | €83,584 | €119,736 | €113,107 | €111,199 | €126,040 | €170,577 | ▲ 35.3% |
| Trade receivables40 | - | €41,268 | - | €110,691 | €104,414 | €102,435 | €116,798 | €146,822 | ▲ 25.7% |
| Other amounts receivable41 | - | €9,014 | - | €9,045 | €8,693 | €8,764 | €9,242 | €23,754 | ▲ 157% |
| Cash at bank and in hand54/58 | €65,017 | €174,376 | €294,749 | €268,750 | €165,597 | €143,753 | €164,811 | €107,418 | ▼ 34.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €502,184 | €442,989 | €568,016 | €621,262 | €562,134 | €556,985 | €502,685 | €490,047 | ▼ 2.5% |
| Equity10/15 | €395,719 | - | €192,014 | €172,640 | €174,605 | €191,937 | €198,299 | €263,357 | ▲ 32.8% |
| Contributions10/11 | €86,742 | €86,742 | €86,763 | €86,763 | €86,763 | €86,763 | €86,742 | €86,742 | = |
| Capital10 | - | €86,742 | - | €86,763 | €86,763 | €86,763 | €86,742 | €86,742 | = |
| Issued capital100 | - | €86,742 | - | €86,763 | €86,763 | €86,763 | €86,742 | €86,742 | = |
| Reserves13 | €12,739 | €12,739 | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | = |
| Non-distributable reserves130/1 | - | €8,676 | - | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | = |
| Legal reserve130 | - | €8,676 | - | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | = |
| Tax-exempt reserves132 | - | €4,063 | - | - | - | - | - | - | - |
| Profit (loss) carried forward14 | €296,238 | €40,456 | €96,575 | €77,201 | €79,166 | €96,498 | €102,881 | €167,938 | ▲ 63.2% |
| Amounts payable17/49 | €106,465 | €303,052 | €376,002 | €448,622 | €387,529 | €365,048 | €304,386 | €226,691 | ▼ 25.5% |
| Amounts payable after more than one year17 | - | €174,176 | €159,155 | €125,877 | €107,172 | €69,373 | €41,314 | €7,604 | ▼ 81.6% |
| Financial debts170/4 | - | €174,176 | - | €125,877 | €107,172 | €69,373 | €41,314 | €7,604 | ▼ 81.6% |
| Amounts payable within one year42/48 | €106,411 | €128,876 | €216,847 | €322,745 | €280,357 | €295,675 | €263,072 | €219,087 | ▼ 16.7% |
| Current portion of amounts payable after more than one year42 | - | €32,787 | - | €33,599 | €39,530 | €40,192 | €39,348 | €36,180 | ▼ 8.1% |
| Trade debts44 | €74,807 | €88,424 | €166,496 | €217,910 | €159,627 | €174,301 | €145,083 | €146,776 | ▲ 1.2% |
| Suppliers440/4 | - | €88,424 | - | €217,910 | €159,627 | €174,301 | €145,083 | €146,776 | ▲ 1.2% |
| Taxes, remuneration and social security45 | - | €7,665 | - | €26,237 | €28,201 | €31,182 | €28,641 | €36,132 | ▲ 26.2% |
| Taxes450/3 | - | €7,665 | - | €26,237 | €28,171 | €30,274 | €28,641 | €35,949 | ▲ 25.5% |
| Remuneration and social security454/9 | - | - | - | - | €30 | €908 | - | €182 | - |
| Other amounts payable47/48 | - | - | - | €45,000 | €53,000 | €50,000 | €50,000 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,887 | €4,218 | €52,057 | €55,626 | €54,965 | €67,332 | €56,383 | €65,058 | ▲ 15.4% |
| + Depreciation and write-downs630 | €2,241 | €4,423 | €4,701 | €8,005 | €13,320 | €14,136 | €12,569 | €15,178 | ▲ 20.8% |
| Operating cash flow (approximation) | €14,128 | €8,641 | €56,757 | €63,631 | €68,285 | €81,467 | €68,952 | €80,235 | ▲ 16.4% |
| Investment in fixed assets (approximation) | - | -€16,263 | -€22,797 | -€13,714 | -€17,791 | €0 | -€12,085 | -€1,663 | ▲ 86.2% |
| Change in cash | - | €109,359 | €120,373 | -€25,998 | -€103,153 | -€21,844 | €21,057 | -€57,393 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as ANDRE CORNET - ELECT has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ANDRE CORNET - ELECT itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for ANDRE CORNET - ELECT. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | full format | 25-10-2026 | 2026-00571237 | |
| 31-03-2025 | full format | 21-10-2025 | 2025-00548450 | |
| 31-03-2024 | full format | 25-09-2024 | 2024-00475918 | |
| 31-03-2023 | full format | 30-10-2023 | 2023-00502569 | |
| 31-03-2022 | full format | 26-10-2022 | 2022-20484764 | |
| 31-03-2021 | full format | 28-10-2021 | 2021-74600291 | |
| 31-03-2020 | full format | 20-10-2020 | 2020-62400050 | |
| 31-03-2019 | micro format | 30-09-2019 | 2019-66400294 | |
| 31-03-2018 | micro format | 26-10-2018 | 2018-70300020 | |
| 31-03-2017 | micro format | 29-10-2017 | 2017-68000197 |