CORDEEL MAINTENANCE
ActiveSummary
CORDEEL MAINTENANCE has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €453k and a net result of €178k. Equity is shrinking by ~19.6% per year across the filed fiscal years. Its solvency ranks better than 10% of 2056 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability44▼-45
Solvency31▲+2
Growth23▼-16
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 3.95 against 2.58 in 2024; short-term debt: 25.1% of total assets), but 93.5% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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
6.5%
Return on assets
2.5%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 2056 sector peers (2025).
NBB · sector comparisonPosition among 2056 sector peers
Solvency
better than 10%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €453k
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 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
29 d early
2023
23 d early
2022
45 d late
2021
23 d early
2020
19 d early
2019
19 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€4.30M▲ 12.6%
2020 · €3.82M
2018: €5.72Mhighest in 4 years
2019: €3.70M▼ -35.2% vs 2018lowest in 4 years
2020: €3.82M▲ +3.0% vs 2019
2021: €4.30M▲ +12.6% vs 2020
2018 → 2021
EBIT margin
7.1%▼ 0.8pp
2020 · 7.8%
2018: 5.6%lowest in 4 years
2019: 8.9%▲ +60.1% vs 2018highest in 4 years
2020: 7.8%▼ -12.1% vs 2019
2021: 7.1%▼ -10.0% vs 2020
2018 → 2021
Net result
€178k▼ 84.4%
2024 · €1.14M
2018: €227k
2019: €237k▲ +4.3% vs 2018
2020: €223k▼ -6.0% vs 2019
2021: €231k▲ +4.0% vs 2020
2022: €313k▲ +35.1% vs 2021
2023: €518k▲ +65.7% vs 2022
2024: €1.14M▲ +119% vs 2023highest in 8 years
2025: €178k▼ -84.4% vs 2024lowest in 8 years
2018 → 2025
Working capital
€5.18M▲ 23.8%
2024 · €4.18M
2018: €2.44Mlowest in 8 years
2019: €2.98M▲ +22.3% vs 2018
2020: €3.58M▲ +19.9% vs 2019
2021: €4.22M▲ +18.0% vs 2020
2022: €3.45M▼ -18.3% vs 2021
2023: €4.27M▲ +23.7% vs 2022
2024: €4.18M▼ -1.9% vs 2023
2025: €5.18M▲ +23.8% vs 2024highest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€4.30M-
Equity€1.89M-€300k▼ 84.1%€276k▼ 8.0%€276k▼ 0.1%€453k▲ 64.4%
2021: €1.89Mhighest in 5 years
2022: €300k▼ -84.1% vs 2021
2023: €276k▼ -8.0% vs 2022
2024: €276k▼ -0.1% vs 2023lowest in 5 years
2025: €453k▲ +64.4% vs 2024
Operating result€303k-€438k▲ 44.5%€549k▲ 25.3%€1.40M▲ 155%€138k▼ 90.2%
2021: €303k
2022: €438k▲ +44.5% vs 2021
2023: €549k▲ +25.3% vs 2022
2024: €1.40M▲ +155% vs 2023highest in 5 years
2025: €138k▼ -90.2% vs 2024lowest in 5 years
Net result€231k-€313k▲ 35.1%€518k▲ 65.7%€1.14M▲ 119%€178k▼ 84.4%
2021: €231k
2022: €313k▲ +35.1% vs 2021
2023: €518k▲ +65.7% vs 2022
2024: €1.14M▲ +119% vs 2023highest in 5 years
2025: €178k▼ -84.4% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 90% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.99M
Fixed assets
€62k =
Current assets
€6.93M ▲ 1.4%
Equity and liabilities €6.99M
Equity
€453k ▲ 64.4%
Provisions
€4.79M ▲ 20.6%
Debt
€1.76M ▼ 33.8%
Debt's share of the balance-sheet total falls from 38.5% to 25.1%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
3.95▲
2024 · 2.58
Quick ratio
3.95▲
2024 · 2.58
Debt to equity
3.87▼
2024 · 9.62
ROE
39.2%▼
2024 · 412.1%
ROA
2.5%▼
2024 · 16.5%
Debt ≤ 1 year
€1.76M▼
2024 · €2.65M
Income taxes
€70k▼
2024 · €431k
Staff costs
€478k▲
2024 · €319k
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 · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€6.90M€6.99M▲
Fixed assets21/28€62k€62k=
Financial fixed assets28€62k€62k=
Current assets29/58€6.84M€6.93M▲
Stocks and contracts in progress3-€9k
Stocks30/36-€9k
Amounts receivable within one year40/41€6.83M€6.91M▲
Trade receivables40€1.82M€2.25M▲
Other amounts receivable41€5.01M€4.66M▼
Deferred charges and accrued income490/1€3k€12k▲
Equity and liabilities
Total equity and liabilities10/49€6.90M€6.99M▲
Equity10/15€276k€453k▲
Contributions10/11€250k€250k=
Capital10€250k€250k=
Issued capital100€250k€250k=
Reserves13€25k€25k=
Non-distributable reserves130/1€25k€25k=
Legal reserve130€25k€25k=
Profit (loss) carried forward14€834€178k▲
Provisions and deferred taxes16€3.97M€4.79M▲
Provisions for liabilities and charges160/5€3.97M€4.79M▲
Other liabilities and charges164/5€3.97M€4.79M▲
Amounts payable17/49€2.65M€1.76M▼
Amounts payable within one year42/48€2.65M€1.76M▼
Trade debts44€878k€1.02M▲
Suppliers440/4€878k€1.02M▲
Taxes, remuneration and social security45€463k€557k▲
Taxes450/3€431k€502k▲
Remuneration and social security454/9€31k€55k▲
Other amounts payable47/48€1.31M€175k▼
Income statement
Code20242025
Remuneration, social security and pensions62€319k€478k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0-
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€430€32k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€-21k€817k▲
Other operating charges640/8€1k€8k▲
Non-recurring operating charges66A€0-
Gross operating margin9900€1.70M€1.47M▼
Operating profit (loss)9901€1.40M€138k▼
Financial income75/76B€172k€116k▼
Recurring financial income75€172k€116k▼
Financial charges65/66B€8k€6k▼
Recurring financial charges65€8k€6k▼
Profit (loss) for the period before taxes9903€1.57M€248k▼
Income taxes67/77€431k€70k▼
Profit (loss) for the period9904€1.14M€178k▼
Profit (loss) for the period to be appropriated9905€1.14M€178k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.14M€178k▼
Profit (loss) brought forward from the previous period14P€999€834▼
Transfer from equity791/2€0-
Profit to be distributed694/7€1.14M€0▼
Return on contributions (dividend)694€1.14M€0▼
Social balance
Average headcount (FTE)90874.26.1▲
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €4.35M | - | - | - | - | - |
| Turnover70 | €4.30M | - | - | - | - | - |
| Other operating income74 | €44k | - | - | - | - | - |
| Non-recurring operating income76A | €9k | - | - | - | - | - |
| Operating charges60/66A | €4.05M | - | - | - | - | - |
| Goods for resale, raw materials and consumables60 | €3.80M | - | - | - | - | - |
| Purchases600/8 | €3.80M | - | - | - | - | - |
| Services and other goods61 | €126k | - | - | - | - | - |
| Remuneration, social security and pensions62 | €101k | €111k | €256k | €319k | €478k | ▲ 49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22k | €17k | €147 | €0 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €2k | €0 | €430 | €32k | ▲ 7,345% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €3.99M | €-21k | €817k | ▲ 4,049% |
| Other operating charges640/8 | €2k | €1k | €4k | €1k | €8k | ▲ 577% |
| Non-recurring operating charges66A | - | - | €8k | €0 | - | - |
| Gross operating margin9900 | - | €569k | €4.81M | €1.70M | €1.47M | ▼ 13.5% |
| Operating profit (loss)9901 | €303k | €438k | €549k | €1.40M | €138k | ▼ 90.2% |
| Financial income75/76B | €18k | €19k | €156k | €172k | €116k | ▼ 32.6% |
| Recurring financial income75 | €18k | €19k | €156k | €172k | €116k | ▼ 32.6% |
| Income from current assets751 | €16k | - | - | - | - | - |
| Other financial income752/9 | €2k | - | - | - | - | - |
| Financial charges65/66B | €11k | €16k | €9k | €8k | €6k | ▼ 21.9% |
| Recurring financial charges65 | €11k | €16k | €9k | €8k | €6k | ▼ 21.9% |
| Other financial charges652/9 | €11k | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €310k | €442k | €697k | €1.57M | €248k | ▼ 84.2% |
| Income taxes67/77 | €78k | €129k | €179k | €431k | €70k | ▼ 83.7% |
| Taxes670/3 | €80k | - | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | €2k | - | - | - | - | - |
| Profit (loss) for the period9904 | €231k | €313k | €518k | €1.14M | €178k | ▼ 84.4% |
| Profit (loss) for the period to be appropriated9905 | €231k | €313k | €518k | €1.14M | €178k | ▼ 84.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.99M | €5.99M | €5.79M | €6.90M | €6.99M | ▲ 1.4% |
| Fixed assets21/28 | €54k | €37k | €0 | €62k | €62k | = |
| Tangible fixed assets22/27 | €54k | €37k | €0 | - | - | - |
| Furniture and vehicles24 | €54k | €37k | €0 | - | - | - |
| Financial fixed assets28 | - | - | - | €62k | €62k | = |
| Current assets29/58 | €4.93M | €5.95M | €5.79M | €6.84M | €6.93M | ▲ 1.4% |
| Stocks and contracts in progress3 | - | - | - | - | €9k | - |
| Stocks30/36 | - | - | - | - | €9k | - |
| Amounts receivable within one year40/41 | €4.93M | €5.95M | €5.78M | €6.83M | €6.91M | ▲ 1.2% |
| Trade receivables40 | €1.44M | €2.36M | €1.28M | €1.82M | €2.25M | ▲ 23.6% |
| Other amounts receivable41 | €3.50M | €3.60M | €4.51M | €5.01M | €4.66M | ▼ 7.0% |
| Cash at bank and in hand54/58 | €15 | €425 | €0 | - | - | - |
| Deferred charges and accrued income490/1 | - | - | €5k | €3k | €12k | ▲ 344% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.99M | €5.99M | €5.79M | €6.90M | €6.99M | ▲ 1.4% |
| Equity10/15 | €1.89M | €300k | €276k | €276k | €453k | ▲ 64.4% |
| Contributions10/11 | €250k | €250k | €250k | €250k | €250k | = |
| Capital10 | €250k | €250k | €250k | €250k | €250k | = |
| Issued capital100 | €250k | €250k | €250k | €250k | €250k | = |
| Reserves13 | €1.64M | €50k | €25k | €25k | €25k | = |
| Non-distributable reserves130/1 | €25k | €25k | €25k | €25k | €25k | = |
| Legal reserve130 | €25k | €25k | €25k | €25k | €25k | = |
| Distributable reserves133 | €1.61M | €25k | €0 | - | - | - |
| Profit (loss) carried forward14 | - | - | €999 | €834 | €178k | ▲ 21,293% |
| Provisions and deferred taxes16 | - | - | €3.99M | €3.97M | €4.79M | ▲ 20.6% |
| Provisions for liabilities and charges160/5 | - | - | €3.99M | €3.97M | €4.79M | ▲ 20.6% |
| Other liabilities and charges164/5 | - | - | €3.99M | €3.97M | €4.79M | ▲ 20.6% |
| Amounts payable17/49 | €3.10M | €5.69M | €1.52M | €2.65M | €1.76M | ▼ 33.8% |
| Amounts payable within one year42/48 | €711k | €2.50M | €1.52M | €2.65M | €1.76M | ▼ 33.8% |
| Trade debts44 | €686k | €460k | €771k | €878k | €1.02M | ▲ 16.6% |
| Suppliers440/4 | €686k | €460k | €771k | €878k | €1.02M | ▲ 16.6% |
| Taxes, remuneration and social security45 | €24k | €141k | €209k | €463k | €557k | ▲ 20.3% |
| Taxes450/3 | €13k | €129k | €187k | €431k | €502k | ▲ 16.3% |
| Remuneration and social security454/9 | €12k | €12k | €22k | €31k | €55k | ▲ 75.4% |
| Other amounts payable47/48 | - | €1.90M | €542k | €1.31M | €175k | ▼ 86.7% |
| Accrued charges and deferred income492/3 | €2.39M | €3.19M | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €231k | €313k | €518k | €1.14M | €178k | ▼ 84.4% |
| + Depreciation and write-downs630 | €22k | €17k | €147 | €0 | - | - |
| Operating cash flow (approximation) | €254k | €330k | €518k | €1.14M | €178k | ▼ 84.4% |
| Investment in fixed assets (approximation) | - | €0 | €37k | €-62k | €0 | ▲ 100% |
| Change in cash | - | €410 | €-425 | - | - | - |
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
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €178k ▼84.4%
Net result drops to €178k, the lowest in the series.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €1.14M ▲119%
Operating result €1.40M, net result €1.14M, both a record.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
14-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 45 days late
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
12-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
11-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
06-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
15 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, Bilzen-Hoeselt · 1 establishment unit since 2010
Ground area
1.7 ha
Building footprint
1.2 ha
Volume, LiDAR
162,430 m³
Parcel 73032G0284/00C000, Flanders · tallest building 15.9 m, ±5 floors. Linked by address, not a title deed.
40
companies at this address
See who is registered here
1 establishment unit
CORDEEL MAINTENANCE
since 20102.200.244.565
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73032G0284/00C000 | Flanders | 1.7 ha | 1 · 1.2 ha | 15.8 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 7,289 companies in sector 43350 we hold annual accounts for 2,362. 1,386 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded11-01-2010
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43350Other building finishing work
43990Other specialised construction activities
Scores and ratios are computed by Checked and are not a credit decision.