CORCRIS
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 31 filings
Turnover
€185,545▲ 3.9%
2024 · €178,661
EBIT margin
75.2%▲ 0.8pp
2024 · 74.4%
Net result
€104,057▲ 5.0%
2024 · €99,146
Working capital
€533,124▲ 24.3%
2024 · €429,067
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€185,545
▲ 3.9%
2025
20182025
Operating result
€139,471
▲ 4.9%
2025
20182025
Net result
€104,057
▲ 5.0%
2025
highest quarter of the sector
20182025
EBIT margin
75.2%
▲ 0.8pp
2025
20182025
Equity
€533,487
▲ 24.2%
2025
middle half of the sector
20182025
Total assets
€544,628
▲ 21.4%
2025
middle half of the sector
20182025
Debt
€11,141
▼ 41.4%
2025
20182025
Working capital
€533,124
▲ 24.3%
2025
highest quarter of the sector
20182025
Solvency
98.0%
▲ 2.2pp
2025
highest quarter of the sector
20182025
Current ratio
48.85
▲ 25.28
2025
highest quarter of the sector
20182025
Return on assets (ROA)
19.1%
▼ 3.0pp
2025
highest quarter of the sector
20182025
Staff (FTE)
0.7
=
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€178,661€185,545▲ 3.9%
Operating result€25,598-€26,083▲ 1.9%€28,525▲ 9.4%€38,005▲ 33.2%€66,508▲ 75.0%€88,309▲ 32.8%€132,944▲ 50.5%€139,471▲ 4.9%
Net result€17,818-€18,180▲ 2.0%€26,070within the sector's middle half▲ 43.4%€28,639within the sector's middle half▲ 9.9%€49,175within the sector's middle half▲ 71.7%€65,922within the sector's middle half▲ 34.1%€99,146within the sector's middle half▲ 50.4%€104,057above the sector's middle half▲ 5.0%
EBIT margin74.4%75.2%▲ 0.8pp
Equity€142,298-€160,478▲ 12.8%€186,548within the sector's middle half▲ 16.2%€215,187within the sector's middle half▲ 15.4%€264,362within the sector's middle half▲ 22.9%€330,284within the sector's middle half▲ 24.9%€429,430within the sector's middle half▲ 30.0%€533,487within the sector's middle half▲ 24.2%
Total assets€459,762-€475,397▲ 3.4%€504,716within the sector's middle half▲ 6.2%€229,843below the sector's middle half▼ 54.5%€285,702below the sector's middle half▲ 24.3%€349,830within the sector's middle half▲ 22.4%€448,441within the sector's middle half▲ 28.2%€544,628within the sector's middle half▲ 21.4%
Debt€317,464-€314,919▼ 0.8%€318,168▲ 1.0%€14,656▼ 95.4%€21,339▲ 45.6%€19,546▼ 8.4%€19,011▼ 2.7%€11,141▼ 41.4%
Working capital€441,935-€160,115▼ 63.8%€186,185within the sector's middle half▲ 16.3%€216,174within the sector's middle half▲ 16.1%€265,349within the sector's middle half▲ 22.7%€331,271within the sector's middle half▲ 24.8%€429,067within the sector's middle half▲ 29.5%€533,124above the sector's middle half▲ 24.3%
Solvency31.0%-33.8%▲ 2.8pp37.0%within the sector's middle half▲ 3.2pp93.6%above the sector's middle half▲ 56.7pp92.5%above the sector's middle half▼ 1.1pp94.4%above the sector's middle half▲ 1.9pp95.8%above the sector's middle half▲ 1.3pp98.0%above the sector's middle half▲ 2.2pp
Current ratio26.31-1.51▼ 24.801.59within the sector's middle half▲ 0.0817.25above the sector's middle half▲ 15.6614.27above the sector's middle half▼ 2.9719.21above the sector's middle half▲ 4.9323.57above the sector's middle half▲ 4.3648.85above the sector's middle half▲ 25.28
Return on assets (ROA)3.9%-3.8%▼ 0.1pp5.2%within the sector's middle half▲ 1.3pp12.5%above the sector's middle half▲ 7.3pp17.2%above the sector's middle half▲ 4.8pp18.8%above the sector's middle half▲ 1.6pp22.1%above the sector's middle half▲ 3.3pp19.1%above the sector's middle half▼ 3.0pp
Staff (FTE)1-0.8▼ 20.0%0.7below the sector's middle half▼ 12.5%0.7below the sector's middle half=1within the sector's middle half▲ 42.9%0.7within the sector's middle half▼ 30.0%0.7within the sector's middle half=0.7within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 5% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €544,628
Fixed assets
€363 =
Current assets
€544,265 ▲ 21.5%
Equity and liabilities €544,628
Equity
€533,487 ▲ 24.2%
Debt
€11,141 ▼ 41.4%
Debt's share of the balance-sheet total falls from 4.2% to 2.0%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.02▼
2024 · 0.04
ROE
19.5%▼
2024 · 23.1%
Debt ≤ 1 year
€11,141▼
2024 · €19,011
Income taxes
€35,292▲
2024 · €33,673
Customer credit
103 days▲
2024 · 68 days
Supplier credit
1 day▲
2024 · 1 day
Staff costs
€29,560▼
2024 · €32,090
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 | 1 | 1 | 1 | 1 | 1 |
| full-time | - | - | - | 0 | 0 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |
| Average over the year, in full-time equivalents | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | €178,661 | €185,545 | ▲ 3.9% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €18,546 | €17,648 | ▼ 4.8% |
| Remuneration, social security and pensions62 | - | - | - | €26,353 | €28,916 | €31,846 | €32,090 | €29,560 | ▼ 7.9% |
| Other operating charges640/8 | - | - | - | €1,317 | €1,324 | €1,390 | €841 | €640 | ▼ 24.0% |
| Gross operating margin9900 | €56,934 | €55,457 | €55,991 | €65,675 | €96,749 | €121,545 | €165,875 | €169,670 | ▲ 2.3% |
| Operating profit (loss)9901 | €25,598 | €26,083 | €28,525 | €38,005 | €66,508 | €88,309 | €132,944 | €139,471 | ▲ 4.9% |
| Financial income75/76B | - | - | - | €942 | €3 | €0 | €145 | €182 | ▲ 25.0% |
| Recurring financial income75 | €125 | €2 | €727 | €942 | €3 | €0 | €145 | €182 | ▲ 25.0% |
| Financial charges65/66B | - | - | - | €389 | €310 | €230 | €271 | €303 | ▲ 12.1% |
| Recurring financial charges65 | €164 | €318 | €150 | €389 | €310 | €230 | €271 | €303 | ▲ 12.1% |
| Profit (loss) for the period before taxes9903 | €25,559 | €25,767 | €34,828 | €38,557 | €66,201 | €88,079 | €132,819 | €139,349 | ▲ 4.9% |
| Income taxes67/77 | €7,741 | €7,587 | €8,758 | €9,919 | €17,025 | €22,158 | €33,673 | €35,292 | ▲ 4.8% |
| Profit (loss) for the period9904 | €17,818 | €18,180 | €26,070 | €28,639 | €49,175 | €65,922 | €99,146 | €104,057 | ▲ 5.0% |
| Profit (loss) for the period to be appropriated9905 | €17,818 | €18,180 | €26,070 | €28,639 | €49,175 | €65,922 | €99,146 | €104,057 | ▲ 5.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €459,762 | €475,397 | €504,716 | €229,843 | €285,702 | €349,830 | €448,441 | €544,628 | ▲ 21.4% |
| Fixed assets21/28 | €363 | €363 | €363 | €363 | €363 | €363 | €363 | €363 | = |
| Financial fixed assets28 | €363 | €363 | €363 | €363 | €363 | €363 | €363 | €363 | = |
| Current assets29/58 | €459,399 | €475,034 | €504,353 | €229,480 | €285,339 | €349,467 | €448,078 | €544,265 | ▲ 21.5% |
| Amounts receivable within one year40/41 | €431,645 | €462,694 | €468,390 | €169,879 | €165,255 | €169,424 | €183,384 | €207,547 | ▲ 13.2% |
| Trade receivables40 | - | - | - | €21,356 | €12,154 | €20,404 | €33,208 | €52,529 | ▲ 58.2% |
| Other amounts receivable41 | - | - | - | €148,523 | €153,101 | €149,021 | €150,175 | €155,018 | ▲ 3.2% |
| Cash at bank and in hand54/58 | €27,754 | €10,887 | €34,516 | €58,120 | €120,083 | €180,043 | €264,695 | €336,718 | ▲ 27.2% |
| Deferred charges and accrued income490/1 | - | - | - | €1,482 | - | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €459,762 | €475,397 | €504,716 | €229,843 | €285,702 | €349,830 | €448,441 | €544,628 | ▲ 21.4% |
| Equity10/15 | €142,298 | €160,478 | €186,548 | €215,187 | €264,362 | €330,284 | €429,430 | €533,487 | ▲ 24.2% |
| Contributions10/11 | €18,550 | €18,550 | - | €20,405 | €20,405 | €20,405 | €20,405 | €20,405 | = |
| Reserves13 | €46,461 | €46,461 | €44,606 | €44,606 | €44,606 | €44,606 | €44,606 | €44,606 | = |
| Distributable reserves133 | - | - | - | €44,606 | €44,606 | €44,606 | €44,606 | €44,606 | = |
| Profit (loss) carried forward14 | €77,287 | €95,467 | €121,537 | €150,176 | €199,352 | €265,273 | €364,419 | €468,476 | ▲ 28.6% |
| Amounts payable17/49 | €317,464 | €314,919 | €318,168 | €14,656 | €21,339 | €19,546 | €19,011 | €11,141 | ▼ 41.4% |
| Amounts payable within one year42/48 | €17,464 | €314,919 | €318,168 | €13,306 | €19,989 | €18,196 | €19,011 | €11,141 | ▼ 41.4% |
| Financial debts43 | - | - | - | €557 | €557 | €10,647 | €557 | €557 | = |
| Credit institutions430/8 | - | - | - | €557 | €557 | €557 | €557 | €557 | = |
| Other loans439 | - | - | - | - | - | €10,090 | €0 | - | - |
| Trade debts44 | €174 | - | €412 | €410 | €20 | €7,549 | €33 | €35 | ▲ 6.5% |
| Suppliers440/4 | - | - | - | €410 | €20 | €7,549 | €33 | €35 | ▲ 6.5% |
| Taxes, remuneration and social security45 | - | - | - | €12,338 | €19,412 | - | €18,421 | €10,548 | ▼ 42.7% |
| Taxes450/3 | - | - | - | €12,338 | €19,412 | - | €14,570 | €6,571 | ▼ 54.9% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €3,851 | €3,978 | ▲ 3.3% |
| Accrued charges and deferred income492/3 | - | - | - | €1,350 | €1,350 | €1,350 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,818 | €18,180 | €26,070 | €28,639 | €49,175 | €65,922 | €99,146 | €104,057 | ▲ 5.0% |
| Operating cash flow (approximation) | €17,818 | €18,180 | €26,070 | €28,639 | €49,175 | €65,922 | €99,146 | €104,057 | ▲ 5.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€16,867 | €23,629 | €23,604 | €61,964 | €59,959 | €84,652 | €72,024 | ▼ 14.9% |
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 CORCRIS 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 CORCRIS 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 CORCRIS. 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 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-07-2026 | 2026-00369522 | |
| 31-12-2024 | abbreviated format | 20-08-2025 | 2025-00386505 | |
| 31-12-2023 | abbreviated format | 09-07-2024 | 2024-00227707 | |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00416139 | |
| 31-12-2021 | abbreviated format | 21-06-2022 | 2022-20126782 | |
| 31-12-2020 | abbreviated format | 07-06-2021 | 2021-17700139 | |
| 31-12-2019 | abbreviated format | 05-11-2020 | 2020-68800516 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-61600216 | |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-61000313 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-56200458 |