Corbrew
ActiveSummary
Corbrew has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €717,424 and a net result of -€34,701. Equity is growing by ~13.9% per year across the filed fiscal years. Its solvency ranks better than 20% of 940 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36=
Solvency36=
Growth42=
Track record100
Bankruptcy probability, 12 months
0.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity ample (current ratio 3.88 against 3.87 in 2024; short-term debt: 22% and cash: 4.8% of total assets), but 89.3% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
10.7%
Return on assets
-0.5%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€34,701
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 940 sector peers (2025).
NBB · sector comparisonPosition among 940 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-07-2026, 8 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
8 d early
2024
3 d early
2023
8 d early
2022
38 d late
2021
3 d early
2020
79 d late
2019
85 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 26 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 28 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€18,525▲ 87.1%
2021 · €9,900
EBIT margin
-1570.8%▼ 26985.1pp
2021 · 25414.3%
Net result
-€34,701▲ 7.8%
2024 · -€37,649
Working capital
€4.2m▼ 6.1%
2024 · €4.5m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€9,900▼ 2.9%€18,525▲ 87.1%
Operating result€2.5m-€290,990-€5,468▲ 98.1%-€5,297▲ 3.1%-€4,743▲ 10.5%
Net result€2.1mabove the sector's middle half-€325,147below the sector's middle half-€40,354below the sector's middle half▲ 87.6%-€37,649below the sector's middle half▲ 6.7%-€34,701below the sector's middle half▲ 7.8%
EBIT margin25414.3%▲ 25659.3pp-1570.8%▼ 26985.1pp
Equity€1.2mwithin the sector's middle half▲ 3,078%€830,128within the sector's middle half▼ 28.1%€789,774within the sector's middle half▼ 4.9%€752,125within the sector's middle half▼ 4.8%€717,424within the sector's middle half▼ 4.6%
Total assets€10.4mabove the sector's middle half▲ 230%€7.9mabove the sector's middle half▼ 23.7%€7.3mabove the sector's middle half▼ 7.2%€7.1mabove the sector's middle half▼ 3.7%€6.7mwithin the sector's middle half▼ 5.3%
Debt€9.2m▲ 197%€7.1m▼ 23.2%€6.6m▼ 7.5%€6.3m▼ 3.5%€6.0m▼ 5.3%
Working capital€5.7mabove the sector's middle half€5.1mabove the sector's middle half▼ 10.4%€4.8mabove the sector's middle half▼ 5.4%€4.5mabove the sector's middle half▼ 5.7%€4.2mabove the sector's middle half▼ 6.1%
Solvency11.1%below the sector's middle half▲ 10.0pp10.5%below the sector's middle half▼ 0.6pp10.8%below the sector's middle half▲ 0.3pp10.6%below the sector's middle half▼ 0.1pp10.7%below the sector's middle half▲ 0.1pp
Current ratio2.50within the sector's middle half▲ 2.323.71above the sector's middle half▲ 1.224.05above the sector's middle half▲ 0.343.87above the sector's middle half▼ 0.183.88above the sector's middle half▲ 0.01
Return on assets (ROA)20.4%above the sector's middle half▲ 21.2pp-4.1%below the sector's middle half▼ 24.5pp-0.5%within the sector's middle half▲ 3.6pp-0.5%below the sector's middle half=-0.5%below the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4,743 in 2025 against €5,297 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.7m
Fixed assets
€977,834 =
Current assets
€5.7m ▼ 6.1%
Equity and liabilities €6.7m
Equity
€717,424 ▼ 4.6%
Debt
€6.0m ▼ 5.3%
Debt's share of the balance-sheet total falls from 89.4% to 89.3%. Equity and debt are lower.
Key figures and ratios
Debt to equity
8.34▼
2024 · 8.41
ROE
-4.8%▲
2024 · -5.0%
Debt ≤ 1 year
€1.5m▼
2024 · €1.6m
Debt > 1 year
€4.5m▼
2024 · €4.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 120 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 95% are still going.
- Medium-sized
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
0%
went bankrupt
5.0%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 120 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €6.8m | €18,525 | - | - | - | - |
| Turnover70 | €9,900 | €18,525 | - | - | - | - |
| Non-recurring operating income76A | €6.8m | €0 | - | - | - | - |
| Operating charges60/66A | €4.2m | €309,515 | €5,468 | €5,297 | €4,743 | ▼ 10.5% |
| Services and other goods61 | €18,917 | €21,519 | €4,508 | €4,329 | €3,544 | ▼ 18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | - | - | - | - |
| Other operating charges640/8 | €1,190 | €868 | €960 | €968 | €998 | ▲ 3.2% |
| Non-recurring operating charges66A | €4.2m | €287,128 | €0 | - | €200 | - |
| Operating profit (loss)9901 | €2.5m | -€290,990 | -€5,468 | -€5,297 | -€4,743 | ▲ 10.5% |
| Financial income75/76B | €24,854 | €3,853 | €0 | - | - | - |
| Recurring financial income75 | €24,854 | €3,853 | €0 | - | - | - |
| Other financial income752/9 | €24,854 | €3,853 | €0 | - | - | - |
| Non-recurring financial income76B | €0 | - | - | - | - | - |
| Financial charges65/66B | €23,851 | €38,045 | €34,886 | €32,352 | €29,958 | ▼ 7.4% |
| Recurring financial charges65 | €23,851 | €38,045 | €34,886 | €32,352 | €29,958 | ▼ 7.4% |
| Debt charges650 | €0 | €37,139 | €34,046 | €31,667 | €29,263 | ▼ 7.6% |
| Other financial charges652/9 | €23,851 | €906 | €840 | €685 | €695 | ▲ 1.4% |
| Profit (loss) for the period before taxes9903 | €2.5m | -€325,182 | -€40,354 | -€37,649 | -€34,701 | ▲ 7.8% |
| Income taxes67/77 | €398,100 | -€34 | - | - | - | - |
| Taxes670/3 | €398,100 | €0 | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | - | €34 | - | - | - | - |
| Profit (loss) for the period9904 | €2.1m | -€325,147 | -€40,354 | -€37,649 | -€34,701 | ▲ 7.8% |
| Profit (loss) for the period to be appropriated9905 | €2.1m | -€325,147 | -€40,354 | -€37,649 | -€34,701 | ▲ 7.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €10.4m | €7.9m | €7.3m | €7.1m | €6.7m | ▼ 5.3% |
| Fixed assets21/28 | €948,228 | €977,834 | €977,834 | €977,834 | €977,834 | = |
| Tangible fixed assets22/27 | €948,228 | €977,834 | €977,834 | €977,834 | €977,834 | = |
| Land and buildings22 | €948,228 | €495,000 | €495,000 | €495,000 | €495,000 | = |
| Plant, machinery and equipment23 | €0 | - | - | - | - | - |
| Other tangible fixed assets26 | - | €482,834 | €482,834 | €482,834 | €482,834 | = |
| Assets under construction and advance payments27 | €0 | - | - | - | - | - |
| Current assets29/58 | €9.4m | €6.9m | €6.4m | €6.1m | €5.7m | ▼ 6.1% |
| Amounts receivable after more than one year29 | €6.4m | €6.0m | €5.6m | €5.3m | €4.9m | ▼ 7.1% |
| Other amounts receivable291 | €6.4m | €6.0m | €5.6m | €5.3m | €4.9m | ▼ 7.1% |
| Amounts receivable within one year40/41 | €2.0m | €536,042 | €536,928 | €528,092 | €528,565 | ▲ 0.1% |
| Trade receivables40 | €1.8m | €0 | - | - | - | - |
| Other amounts receivable41 | €150,481 | €536,042 | €536,928 | €528,092 | €528,565 | ▲ 0.1% |
| Cash at bank and in hand54/58 | €1.1m | €401,251 | €202,865 | €318,224 | €320,176 | ▲ 0.6% |
| Deferred charges and accrued income490/1 | €11,500 | €1,565 | €1,460 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €10.4m | €7.9m | €7.3m | €7.1m | €6.7m | ▼ 5.3% |
| Equity10/15 | €1.2m | €830,128 | €789,774 | €752,125 | €717,424 | ▼ 4.6% |
| Contributions10/11 | €50,000 | €50,000 | €50,000 | €50,000 | €55,000 | ▲ 10.0% |
| Capital10 | €50,000 | €50,000 | €50,000 | €50,000 | - | - |
| Issued capital100 | €50,000 | €50,000 | €50,000 | €50,000 | - | - |
| Reserves13 | €5,000 | €5,000 | €5,000 | €5,000 | - | - |
| Non-distributable reserves130/1 | €5,000 | €5,000 | €5,000 | €5,000 | - | - |
| Legal reserve130 | €5,000 | €5,000 | €5,000 | €5,000 | - | - |
| Profit (loss) carried forward14 | €1.1m | €775,128 | €734,774 | €697,125 | €662,424 | ▼ 5.0% |
| Amounts payable17/49 | €9.2m | €7.1m | €6.6m | €6.3m | €6.0m | ▼ 5.3% |
| Amounts payable after more than one year17 | €5.5m | €5.2m | €5.0m | €4.7m | €4.5m | ▼ 5.0% |
| Financial debts170/4 | €3.4m | €3.2m | €3.0m | €2.7m | €2.5m | ▼ 8.7% |
| Credit institutions173 | €3.4m | €3.2m | €3.0m | €2.7m | €2.5m | ▼ 8.7% |
| Other amounts payable178/9 | €2.0m | €2.0m | €2.0m | €2.0m | €2.0m | = |
| Amounts payable within one year42/48 | €3.8m | €1.9m | €1.6m | €1.6m | €1.5m | ▼ 6.3% |
| Current portion of amounts payable after more than one year42 | €229,734 | €232,088 | €234,467 | €236,870 | €239,298 | ▲ 1.0% |
| Trade debts44 | €112,723 | €1.2m | €1.2m | €1.2m | €1.2m | ▼ 0.1% |
| Suppliers440/4 | €112,723 | €1.2m | €1.2m | €1.2m | €1.2m | ▼ 0.1% |
| Taxes, remuneration and social security45 | €1.8m | €398,066 | - | - | - | - |
| Taxes450/3 | €1.8m | €398,066 | - | - | - | - |
| Other amounts payable47/48 | €1.6m | €25,596 | €125,596 | €125,596 | €25,596 | ▼ 79.6% |
| Accrued charges and deferred income492/3 | €0 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.1m | -€325,147 | -€40,354 | -€37,649 | -€34,701 | ▲ 7.8% |
| + Depreciation and write-downs630 | €0 | - | - | - | - | - |
| Operating cash flow (approximation) | €2.1m | -€325,147 | -€40,354 | -€37,649 | -€34,701 | ▲ 7.8% |
| Investment in fixed assets (approximation) | - | -€29,606 | €0 | €0 | €0 | - |
| Change in cash | - | -€691,070 | -€198,386 | €115,359 | €1,952 | ▼ 98.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
05-08
State Gazette act
Resignation: Yves CRAEN (director)Appointment: Keersmaekers Stefan (sole director)3 facts ▸
State Gazette act
Resignation: Yves CRAEN (director)
Appointment: Keersmaekers Stefan (sole director)3 facts ▸
- General meeting, 16-12-2025
- Director resignation, Yves CRAEN (director)
- Director appointment, Keersmaekers Stefan (sole director)
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
07-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 38 days late
2022
31-12
Financial
Weakest financial yearnet -€325,147
Net result drops to -€325,147, the lowest in the series; recovery starts the following year.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €2.1m
Net result €2.1m after one loss-making year.
31-12
Financial
Liquidity times 14current ratio 2.50
Current ratio from 0.18 to 2.50.
31-12
Financial
Equity above €1mEq €1.2m ▲3,078%
Equity rises from €36,352 to €1.2m.
18-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 79 days late
2020
24-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 85 days late
Show earlier events
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2017
15-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 6 acts read
About the unread acts
Of the 6 Belgian State Gazette acts we know for this company, 1 has been read. The other 5 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
1 director, last change in 2026
Stefan KEERSMAEKERS
CurrentSole director · since 05-08-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
5 of this company's 6 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Yvoir · 2 establishment units since 2015
Ground area
1.5 ha
Building footprint
717 m²
Volume, LiDAR
8,182 m³
2 parcels, Wallonia · tallest building 16.4 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
Corbrew
since 20152.246.381.527
Route du Prétéry, Purnode 60, 5530 Yvoir
since 20232.346.131.476
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 91110A0266/00P002 | Wallonia | 1.3 ha | 1 · 717 m² | 16.4 m · 4 fl. |
| 91110B0072/00C002indicative | Wallonia | 1,373 m² | - | - |
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Board
| Name | Functions and periods |
|---|---|
| Stefan KEERSMAEKERS |
|
Structure & network
Owners and holdings
2 ownersChain of control
- Lenrec
- Corbrew
Highest known parent: Lenrec. The sources do not say who stands above it.
Owners 2
- LenrecparentSourceaccounts Lenrec 202499%
- SOBRASCOparentSourceaccounts SOBRASCO 202299%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Click a node to look further, drag to arrange, scroll to zoom.
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Of 11,218 companies in sector 82100 we hold annual accounts for 3,516. 1,756 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded03-09-2015
Fiscal year end31-12
Activities, NACEBEL 2025
82100Office administrative and support services
68321Property management for co-owned buildings (syndics)
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0636757686
Also
9925:BE0636757686
Registered
19-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.