CORACO
Open bankruptcySummary
A bankruptcy procedure is open for CORACO according to publications in the Belgian State Gazette. The 2024 annual accounts show negative equity (€-1.15M) and a net result of €141k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 121 sector peers (2024).
NBB · sector comparisonPosition among 121 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 23-06-2025, 54 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
54 d late
2023
21 d early
2021
4 d early
2020
22 d early
2019
26 d late
2018
21 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€10.88M▼ 47.6%
2023 · €20.76M
2018: €6.15M
2019: €8.62M
2020: €6.74M
2021: €11.74M
2023: €20.76M
2018 → 2024
EBIT margin
3.4%▲ 0.4pp
2023 · 3.0%
2018: 2.7%
2019: 3.2%
2020: 4.6%
2021: 2.2%
2023: 3.0%
2018 → 2024
Net result
€141k▼ 55.1%
2023 · €314k
2018: €77k
2019: €156k
2020: €196k
2021: €150k
2023: €314k
2018 → 2024
Working capital
€-117k▲ 30.6%
2023 · €-169k
2018: €-858k
2019: €-747k
2020: €-616k
2021: €-445k
2023: €-169k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120232024Trend
Turnover€8.62M-€6.74M▼ 21.8%€11.74M▲ 74.2%€20.76M▲ 76.8%€10.88M▼ 47.6%
Equity€-1.95M-€-1.76M▲ 10.1%€-1.60M▲ 8.6%€-1.29M▲ 19.6%€-1.15M▲ 10.9%
Operating result€272k-€311k▲ 14.0%€262k▼ 15.6%€622k▲ 137%€371k▼ 40.3%
Net result€156k-€196k▲ 25.6%€150k▼ 23.5%€314k▲ 109%€141k▼ 55.1%
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 40% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.35M
Fixed assets
€1.17M ▲ 8.1%
Current assets
€5.18M ▼ 7.1%
Key figures and ratios
EBITDA
€454k▼
2023 · €747k
Cash flow
€224k▼
2023 · €438k
Solvency
-18.1%▲
2023 · -19.4%
Current ratio
0.98▲
2023 · 0.97
Quick ratio
0.76▲
2023 · 0.67
Debt to equity
-6.52▼
2023 · -6.16
ROA
2.2%▼
2023 · 4.7%
Interest coverage
1.98▼
2023 · 2.39
Debt
€7.50M▼
2023 · €7.96M
Debt ≤ 1 year
€5.30M▼
2023 · €5.75M
Debt > 1 year
€2.20M▼
2023 · €2.20M
Income taxes
€-30▼
2023 · €1k
Staff costs
€2.11M▼
2023 · €3.41M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 82 lines
Balance sheet
Code20232024
Assets
Total assets20/58€6.66M€6.35M▼
Fixed assets21/28€1.09M€1.17M▲
Intangible fixed assets21€12k€15k▲
Tangible fixed assets22/27€946k€1.06M▲
Land and buildings22€675k€675k=
Plant, machinery and equipment23€72k€203k▲
Furniture and vehicles24€18k€25k▲
Leasing and similar rights25€6k€172▼
Other tangible fixed assets26€175k€153k▼
Financial fixed assets28€129k€103k▼
Other financial fixed assets284/8€129k€103k▼
Amounts receivable and cash guarantees285/8€129k€103k▼
Current assets29/58€5.58M€5.18M▼
Stocks and contracts in progress3€1.72M€1.16M▼
Stocks30/36€1.39M€710k▼
Raw materials and consumables30/31€1.15M€397k▼
Work in progress32€114k€97k▼
Finished goods33€122k€215k▲
Contracts in progress37€328k€451k▲
Amounts receivable within one year40/41€3.61M€3.64M▲
Trade receivables40€3.45M€3.22M▼
Other amounts receivable41€166k€419k▲
Cash at bank and in hand54/58€46k€180k▲
Deferred charges and accrued income490/1€201k€196k▼
Equity and liabilities
Total equity and liabilities10/49€6.66M€6.35M▼
Equity10/15€-1.29M€-1.15M▲
Contributions10/11€2.06M€2.06M=
Capital10€2.06M€2.06M=
Issued capital100€2.06M€2.06M=
Revaluation surpluses12€620k€620k=
Reserves13€1.10M€1.10M=
Non-distributable reserves130/1€31k€31k=
Legal reserve130€31k€31k=
Distributable reserves133€1.07M€1.07M=
Profit (loss) carried forward14€-5.07M€-4.93M▲
Amounts payable17/49€7.96M€7.50M▼
Amounts payable after more than one year17€2.20M€2.20M▼
Financial debts170/4€2.20M€2.20M▼
Subordinated loans170€2.20M€2.20M=
Leasing and similar obligations172€1k€0▼
Amounts payable within one year42/48€5.75M€5.30M▼
Current portion of amounts payable after more than one year42€6k€1k▼
Financial debts43€1.34M€1.35M▲
Credit institutions430/8€1.34M€1.35M▲
Trade debts44€2.81M€1.94M▼
Suppliers440/4€2.81M€1.94M▼
Taxes, remuneration and social security45€181k€259k▲
Taxes450/3€11k€63k▲
Remuneration and social security454/9€169k€196k▲
Other amounts payable47/48€1.40M€1.74M▲
Accrued charges and deferred income492/3€8k€7k▼
Income statement
Code20232024
Operating income70/76A€21.01M€11.31M▼
Turnover70€20.76M€10.88M▼
Change in stocks of work in progress, finished goods and contracts in progress71€84k€200k▲
Other operating income74€165k€217k▲
Non-recurring operating income76A€5k€5k▼
Operating charges60/66A€20.39M€10.93M▼
Goods for resale, raw materials and consumables60€13.64M€6.85M▼
Purchases600/8€14.37M€6.10M▼
Change in stocks: decrease (increase)609€-725k€757k▲
Services and other goods61€3.14M€1.86M▼
Remuneration, social security and pensions62€3.41M€2.11M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€124k€83k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€32k€0▼
Other operating charges640/8€48k€31k▼
Operating profit (loss)9901€622k€371k▼
Financial income75/76B€14k€6k▼
Recurring financial income75€14k€6k▼
Other financial income752/9€14k€6k▼
Financial charges65/66B€322k€236k▼
Recurring financial charges65€322k€236k▼
Debt charges650€312k€230k▼
Other financial charges652/9€10k€7k▼
Profit (loss) for the period before taxes9903€315k€141k▼
Income taxes67/77€1k€-30▼
Taxes670/3€1k€0▼
Tax adjustments and reversals of tax provisions77€0€30▲
Profit (loss) for the period9904€314k€141k▼
Profit (loss) for the period to be appropriated9905€314k€141k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-5.07M€-4.93M▲
Profit (loss) brought forward from the previous period14P€-5.38M€-5.07M▲
Social balance
Average headcount (FTE)908740.340.9▲
The notes to these accounts (79 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
01-04
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Turnhout · CORACO NV GASTON GEENS- LAAN 13, 3200 AARSCHOT · event 27-03-2026
2025
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 54 days late
2024
09-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-09
Financial
Highest result since 2018net €314k ▲109%
Operating result €622k, net result €314k, both a record.
2022
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
26-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 26 days late
2019
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 58 days late
2016
08-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 8 days late
2015
07-08
NBB filing
Annual accounts filed
fiscal year 2014 · abbreviated schema · 7 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
26 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Aarschot · 1 establishment unit since 1979
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Gaston Geenslaan 133200 AarschotGround area
1.0 ha
Building footprint
3,856 m²
Volume, LiDAR
19,777 m³
Parcel 24662F0217/00E000, Flanders · tallest building 13.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Gaston Geenslaan 13, 3200 Aarschot
since 19792.015.983.464
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24662F0217/00E000 | Flanders | 1.0 ha | 1 · 3,856 m² | 13.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
5 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | JACQUES ARNAUTS-SMEETS AARSCHOTSE-
STEENWEG 7, 2230 HERSELT |
27-03-2026 → present |
| Curator | GUNTHER
PEETERS AARSCHOTSESTEENWEG 7, 2230 HERSELT- |
27-03-2026 → present |
| Curator | LUC PLESSERS DE MERODELEI 37, 2300 TURN-
HOUT |
27-03-2026 → present |
| Curator | CAROLINE DE LEPELEIRE DE
MERODELEI 37, 2300 TURNHOUT |
27-03-2026 → present |
| Curator | CHRISTOPHE GEUKENS LINDESTRAAT 2, 2490 BALEN- |
27-03-2026 → present |
Public money · subsidies and aid
Flemish government
2022 to 2023 · 3 entries · 11,304 EUR awarded · 11,304 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 500 EUR | 500 EUR |
| 2022 | 2 | 10,804 EUR | 10,804 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Stagebonus (stopgezet)
Recognitions · licences · registrations
Dual-learning approval
6 live approvals · 5 endedBinnen- en buitenschrijnwerk duaal (so)
Buitenschrijnwerker hout duaal (so)
Interieurbouwer duaal (so)
Machinaal houtbewerker duaal (so)
Medewerker hout duaal (so)
Operator CNC-gestuurde houtbewerkingsmachines duaal (so)
Show 5 ended approvals
Binnenschrijnwerker (so)
Buitenschrijnwerker (so)
Interieurbouwer (so)
Machinaal houtbewerker (so)
Werkplaatsbinnenschrijnwerker hout (so)
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Of 1,499 companies in sector 31004 we hold annual accounts for 620. 185 are within a factor 10 of this headcount. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded21-03-1979
Fiscal year end30-09
Activities, NACEBEL 2025
31004Manufacture of dining room, living room, bedroom and bathroom furniture
43320Joinery installation
16230Manufacture of other builders' carpentry and joinery
Sources
Crossroads Bank for EnterprisesNational Bank · 44 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.