Corbit
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 28 filings
Turnover
≈ €3.4m
Estimated: probably between €2.1m and €5.8m
Total assets
€636,464▲ 0.8%
2024 · €631,278
Net result
€3,870▼ 94.3%
2024 · €68,172
Working capital
€88,070▲ 151%
2024 · €35,045
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€13,359
▼ 88.1%
2025
20182025
Net result
€3,870
▼ 94.3%
2025
middle half of the sector
20182025
Equity
€231,447
▲ 1.7%
2025
middle half of the sector
20182025
Total assets
€636,464
▲ 0.8%
2025
middle half of the sector
20182025
Debt
€405,017
▲ 0.3%
2025
20182025
Working capital
€88,070
▲ 151%
2025
middle half of the sector
20182025
Solvency
36.4%
▲ 0.3pp
2025
middle half of the sector
20182025
Current ratio
1.23
▲ 0.13
2025
middle half of the sector
20182025
Return on assets (ROA)
0.6%
▼ 10.2pp
2025
middle half of the sector
20182025
Staff (FTE)
9.1
▲ 11.0%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€11,949-€5,930▼ 50.4%€30,224▲ 410%€72,310▲ 139%€66,832▼ 7.6%€63,841▼ 4.5%€112,302▲ 75.9%€13,359▼ 88.1%
Net result€3,910-€1,596▼ 59.2%€15,791within the sector's middle half▲ 889%€51,371above the sector's middle half▲ 225%€44,339above the sector's middle half▼ 13.7%€49,223within the sector's middle half▲ 11.0%€68,172within the sector's middle half▲ 38.5%€3,870within the sector's middle half▼ 94.3%
Equity€13,084-€14,680▲ 12.2%€30,472within the sector's middle half▲ 108%€81,843within the sector's middle half▲ 169%€126,182within the sector's middle half▲ 54.2%€159,405within the sector's middle half▲ 26.3%€227,577within the sector's middle half▲ 42.8%€231,447within the sector's middle half▲ 1.7%
Total assets€430,984-€370,947▼ 13.9%€336,617within the sector's middle half▼ 9.3%€576,076above the sector's middle half▲ 71.1%€870,310above the sector's middle half▲ 51.1%€441,919below the sector's middle half▼ 49.2%€631,278within the sector's middle half▲ 42.8%€636,464within the sector's middle half▲ 0.8%
Debt€417,900-€356,267▼ 14.7%€306,146▼ 14.1%€494,232▲ 61.4%€744,128▲ 50.6%€282,514▼ 62.0%€403,701▲ 42.9%€405,017▲ 0.3%
Working capital€43,811-€29,343▼ 33.0%-€8,452below the sector's middle half-€228within the sector's middle half▲ 97.3%€354,715above the sector's middle half€50,524below the sector's middle half▼ 85.8%€35,045below the sector's middle half▼ 30.6%€88,070within the sector's middle half▲ 151%
Solvency3.0%-4.0%▲ 0.9pp9.1%within the sector's middle half▲ 5.1pp14.2%within the sector's middle half▲ 5.2pp14.5%within the sector's middle half▲ 0.3pp36.1%within the sector's middle half▲ 21.6pp36.1%within the sector's middle half=36.4%within the sector's middle half▲ 0.3pp
Current ratio1.21-1.17▼ 0.040.96within the sector's middle half▼ 0.221.00within the sector's middle half▲ 0.042.07within the sector's middle half▲ 1.071.25within the sector's middle half▼ 0.821.10below the sector's middle half▼ 0.151.23within the sector's middle half▲ 0.13
Return on assets (ROA)0.9%-0.4%▼ 0.5pp4.7%within the sector's middle half▲ 4.3pp8.9%within the sector's middle half▲ 4.2pp5.1%within the sector's middle half▼ 3.8pp11.1%above the sector's middle half▲ 6.0pp10.8%above the sector's middle half▼ 0.3pp0.6%within the sector's middle half▼ 10.2pp
Staff (FTE)0.7-1.7▲ 143%2.2within the sector's middle half▲ 29.4%4.1▲ 86.4%4.5▲ 9.8%6.2within the sector's middle half▲ 37.8%8.2above the sector's middle half▲ 32.3%9.1above the sector's middle half▲ 11.0%
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 2025 is 88% lower than in 2024 and the lowest since 2019.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €636,464
Fixed assets
€165,606 ▼ 31.1%
Current assets
€470,858 ▲ 20.5%
Equity and liabilities €636,464
Equity
€231,447 ▲ 1.7%
Debt
€405,017 ▲ 0.3%
Debt's share of the balance-sheet total falls from 63.9% to 63.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€79,204▼
2024 · €146,997
Cash flow
€69,715▼
2024 · €102,867
Debt to equity
1.75▼
2024 · 1.77
ROE
1.7%▼
2024 · 30.0%
Interest coverage
31.68▼
2024 · 32.25
Debt ≤ 1 year
€382,787▲
2024 · €355,867
Debt > 1 year
€22,230▼
2024 · €47,834
Income taxes
€7,462▼
2024 · €40,187
Staff costs
€582,905▲
2024 · €570,513
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 6 | 6 | 9 | 9 |
| full-time | 4 | 5 | 6 | 8 | 8 |
| part-time | - | 1 | - | 1 | 1 |
| in full-time equivalents | 4 | 5.3 | 6 | 8.9 | 8.9 |
| Average over the year, in full-time equivalents | 4.1 | 4.5 | 6.2 | 8.2 | 9.1 |
| On a permanent contract | 4 | 5 | 6 | 9 | 9 |
| Joined | 3 | 5 | 8 | 9 | 2 |
| Left | 3 | 3 | 7 | 1 | 2 |
| Training hours | - | - | - | 767 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €75,295 | €8,225 | €30,219 | €15,193 | €91,720 |
| Intangible fixed assets | - | €5,040 | - | €80,362 | - |
| Financial fixed assets | €35 | €250 | - | - | €0 |
| Depreciation and write-downs of the year | €17,047 | €45,194 | €26,631 | €34,695 | €65,846 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Public contracts
1 award · 2023
Raamovereenkomst aanstelling IT-firma voor levering en onderhoud software en hardware voor BBEPP
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €2,599 | - |
| Remuneration, social security and pensions62 | - | - | - | €192,181 | €186,068 | €303,766 | €570,513 | €582,905 | ▲ 2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,532 | €14,706 | €14,661 | €17,047 | €45,194 | €26,631 | €34,695 | €65,846 | ▲ 89.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €4,057 | €150 | - | - | - |
| Other operating charges640/8 | - | - | - | €2,719 | €4,092 | €3,017 | €4,129 | €6,095 | ▲ 47.6% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €5,249 | - |
| Gross operating margin9900 | €84,110 | €88,221 | €136,493 | €284,258 | €306,243 | €397,404 | €721,639 | €673,454 | ▼ 6.7% |
| Operating profit (loss)9901 | €11,949 | €5,930 | €30,224 | €72,310 | €66,832 | €63,841 | €112,302 | €13,359 | ▼ 88.1% |
| Financial income75/76B | - | - | - | €2,535 | €425 | €6,659 | €615 | €474 | ▼ 23.0% |
| Recurring financial income75 | €85 | €2,736 | €28 | €2,535 | €425 | €6,659 | €615 | €474 | ▼ 23.0% |
| Financial charges65/66B | - | - | - | €3,625 | €6,319 | €6,934 | €4,558 | €2,500 | ▼ 45.1% |
| Recurring financial charges65 | €5,156 | €5,258 | €7,222 | €3,625 | €6,319 | €6,934 | €4,558 | €2,500 | ▼ 45.1% |
| Profit (loss) for the period before taxes9903 | €6,878 | €3,407 | €23,030 | €71,220 | €60,938 | €63,565 | €108,359 | €11,332 | ▼ 89.5% |
| Income taxes67/77 | €2,968 | €1,811 | €7,239 | €19,849 | €16,600 | €14,342 | €40,187 | €7,462 | ▼ 81.4% |
| Profit (loss) for the period9904 | €3,910 | €1,596 | €15,791 | €51,371 | €44,339 | €49,223 | €68,172 | €3,870 | ▼ 94.3% |
| Profit (loss) for the period to be appropriated9905 | €3,910 | €1,596 | €15,791 | €51,371 | €44,339 | €49,223 | €68,172 | €3,870 | ▼ 94.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €430,984 | €370,947 | €336,617 | €576,076 | €870,310 | €441,919 | €631,278 | €636,464 | ▲ 0.8% |
| Fixed assets21/28 | €180,164 | €169,549 | €156,190 | €214,472 | €182,759 | €185,337 | €240,365 | €165,606 | ▼ 31.1% |
| Intangible fixed assets21 | - | - | - | - | €4,060 | €3,052 | €77,618 | €60,538 | ▼ 22.0% |
| Tangible fixed assets22/27 | €179,404 | €168,789 | €155,367 | €213,615 | €177,626 | €182,222 | €162,684 | €105,006 | ▼ 35.5% |
| Land and buildings22 | - | - | - | €156,436 | €120,849 | €106,734 | €93,302 | €61,965 | ▼ 33.6% |
| Plant, machinery and equipment23 | - | - | - | €1,417 | €6,288 | €5,851 | €3,607 | €2,590 | ▼ 28.2% |
| Furniture and vehicles24 | - | - | - | €7,143 | €6,645 | €30,570 | €31,692 | €40,450 | ▲ 27.6% |
| Leasing and similar rights25 | - | - | - | €48,620 | €43,844 | €39,068 | €34,084 | €0 | ▼ 100% |
| Financial fixed assets28 | €760 | €760 | €823 | €858 | €1,073 | €63 | €63 | €63 | = |
| Current assets29/58 | €250,819 | €201,398 | €180,428 | €361,603 | €687,551 | €256,582 | €390,912 | €470,858 | ▲ 20.5% |
| Amounts receivable within one year40/41 | €133,607 | €112,297 | €124,911 | €134,379 | €541,975 | €56,552 | €105,999 | €228,033 | ▲ 115% |
| Trade receivables40 | - | - | - | €110,091 | €541,975 | €55,863 | €99,001 | €214,301 | ▲ 116% |
| Other amounts receivable41 | - | - | - | €24,288 | - | €689 | €6,999 | €13,732 | ▲ 96.2% |
| Cash at bank and in hand54/58 | €59,800 | €80,951 | €54,210 | €216,565 | €135,504 | €181,071 | €212,474 | €141,658 | ▼ 33.3% |
| Deferred charges and accrued income490/1 | - | - | - | €10,659 | €10,072 | €18,959 | €72,438 | €101,167 | ▲ 39.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €430,984 | €370,947 | €336,617 | €576,076 | €870,310 | €441,919 | €631,278 | €636,464 | ▲ 0.8% |
| Equity10/15 | €13,084 | €14,680 | €30,472 | €81,843 | €126,182 | €159,405 | €227,577 | €231,447 | ▲ 1.7% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €11,880 | €63,251 | €107,590 | €140,813 | €140,813 | €208,985 | ▲ 48.4% |
| Distributable reserves133 | - | - | - | €63,251 | €107,590 | €140,813 | €140,813 | €208,985 | ▲ 48.4% |
| Profit (loss) carried forward14 | -€7,367 | -€5,771 | - | - | - | - | €68,172 | €3,870 | ▼ 94.3% |
| Amounts payable17/49 | €417,900 | €356,267 | €306,146 | €494,232 | €744,128 | €282,514 | €403,701 | €405,017 | ▲ 0.3% |
| Amounts payable after more than one year17 | €207,110 | €180,376 | €113,109 | €132,402 | €104,643 | €76,456 | €47,834 | €22,230 | ▼ 53.5% |
| Financial debts170/4 | - | - | - | €132,402 | €104,643 | €76,456 | €47,834 | €22,230 | ▼ 53.5% |
| Amounts payable within one year42/48 | €207,008 | €172,055 | €188,880 | €361,831 | €332,836 | €206,059 | €355,867 | €382,787 | ▲ 7.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €27,338 | €28,574 | €28,187 | €28,622 | €18,739 | ▼ 34.5% |
| Financial debts43 | - | - | - | €8,769 | €8,790 | - | €1,590 | €1,427 | ▼ 10.2% |
| Credit institutions430/8 | - | - | - | €8,769 | €8,790 | - | €1,578 | €1,278 | ▼ 19.0% |
| Other loans439 | - | - | - | - | - | - | €12 | €149 | ▲ 13× |
| Trade debts44 | €171,203 | €138,124 | €131,908 | €275,123 | €168,625 | €105,256 | €163,148 | €201,178 | ▲ 23.3% |
| Suppliers440/4 | - | - | - | €275,123 | €168,625 | €105,256 | €163,148 | €201,178 | ▲ 23.3% |
| Taxes, remuneration and social security45 | - | - | - | €44,416 | €110,884 | €41,203 | €126,696 | €161,443 | ▲ 27.4% |
| Taxes450/3 | - | - | - | €10,085 | €67,587 | €8,930 | €54,571 | €75,934 | ▲ 39.1% |
| Remuneration and social security454/9 | - | - | - | €34,331 | €43,298 | €32,273 | €72,125 | €85,509 | ▲ 18.6% |
| Other amounts payable47/48 | - | - | - | €6,185 | €15,963 | €31,412 | €35,811 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | €306,649 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,910 | €1,596 | €15,791 | €51,371 | €44,339 | €49,223 | €68,172 | €3,870 | ▼ 94.3% |
| + Depreciation and write-downs630 | €14,532 | €14,706 | €14,661 | €17,047 | €45,194 | €26,631 | €34,695 | €65,846 | ▲ 89.8% |
| Operating cash flow (approximation) | €18,443 | €16,303 | €30,452 | €68,418 | €89,533 | €75,854 | €102,867 | €69,715 | ▼ 32.2% |
| Investment in fixed assets (approximation) | - | -€4,091 | -€1,302 | -€75,330 | -€13,480 | -€29,209 | -€89,724 | €8,914 | - |
| Change in cash | - | €21,151 | -€26,741 | €162,356 | -€81,061 | €45,567 | €31,403 | -€70,817 | - |
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, 17,041 companies had the same profile as Corbit has now. Two years later, 94.4% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.4%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Corbit itself: 0.7% 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 17,041 companies, not a prediction for Corbit. 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 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-06-2026 | 2026-00209783 | |
| 31-12-2024 | abbreviated format | 26-06-2025 | 2025-00184375 | |
| 31-12-2023 | abbreviated format | 05-07-2024 | 2024-00233818 | |
| 31-12-2022 | micro format | 26-07-2023 | 2023-00271673 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20412764 | |
| 31-12-2020 | micro format | 26-08-2021 | 2021-54700545 | |
| 31-12-2019 | micro format | 08-12-2020 | 2020-74900573 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-55100089 | |
| 31-12-2017 | micro format | 29-08-2018 | 2018-51600255 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-52700540 |