CORDIALIS
ActiveSummary
CORDIALIS has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €112,411 and a net result of -€12,781. Equity is growing by ~8.2% per year across the filed fiscal years. Its solvency ranks better than 81% of 7997 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▲+45
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity ample (current ratio 5.04 against 40.14 in 2024; short-term debt: 18.1% and cash: 88.6% of total assets), and 18.1% of the assets are financed with debt.
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Signals
Five 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 · 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 · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
81.9%
Return on assets
-9.3%
Age of the figures
15 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
19202122232425
2019 to 2025 · latest year -€12,781
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 09-12-2025, 53 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
53 d early
2024
21 d early
2023
44 d early
2022
on the day
2021
on the day
2020
on the day
2019
3 d early
← 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 17 days before 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 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 10 January (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€112,411▼ 34.4%
2024 · €171,411
Total assets
€137,318▼ 21.6%
2024 · €175,048
Net result
-€12,781▲ 31.9%
2024 · -€18,782
Working capital
€100,634▼ 29.3%
2024 · €142,355
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€98,771▲ 54.8%€73,320▼ 25.8%-€10,584-€17,722▼ 67.4%-€11,862▲ 33.1%
Net result€61,776above the sector's middle half▲ 36.6%€42,514above the sector's middle half▼ 31.2%-€11,321below the sector's middle half-€18,782below the sector's middle half▼ 65.9%-€12,781below the sector's middle half▲ 31.9%
Equity€183,206above the sector's middle half▲ 50.9%€225,720above the sector's middle half▲ 23.2%€214,399above the sector's middle half▼ 5.0%€171,411above the sector's middle half▼ 20.1%€112,411within the sector's middle half▼ 34.4%
Total assets€273,661within the sector's middle half▲ 67.9%€277,568within the sector's middle half▲ 1.4%€239,610within the sector's middle half▼ 13.7%€175,048within the sector's middle half▼ 26.9%€137,318within the sector's middle half▼ 21.6%
Debt€90,456▲ 118%€51,848▼ 42.7%€25,211▼ 51.4%€3,637▼ 85.6%€24,907▲ 585%
Working capital€106,626above the sector's middle half▲ 26.0%€175,480above the sector's middle half▲ 64.6%€167,057above the sector's middle half▼ 4.8%€142,355above the sector's middle half▼ 14.8%€100,634above the sector's middle half▼ 29.3%
Solvency66.9%within the sector's middle half▼ 7.6pp81.3%above the sector's middle half▲ 14.4pp89.5%above the sector's middle half▲ 8.2pp97.9%above the sector's middle half▲ 8.4pp81.9%above the sector's middle half▼ 16.1pp
Current ratio2.79within the sector's middle half▼ 0.255.92above the sector's middle half▲ 3.137.63above the sector's middle half▲ 1.7140.14above the sector's middle half▲ 32.515.04above the sector's middle half▼ 35.10
Return on assets (ROA)22.6%within the sector's middle half▼ 5.2pp15.3%within the sector's middle half▼ 7.3pp-4.7%below the sector's middle half▼ 20.0pp-10.7%below the sector's middle half▼ 6.0pp-9.3%below the sector's middle half▲ 1.4pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €11,862 in 2025 against €17,722 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €137,318
Fixed assets
€11,778 ▼ 59.5%
Current assets
€125,540 ▼ 14.0%
Equity and liabilities €137,318
Equity
€112,411 ▼ 34.4%
Debt
€24,907 ▲ 585%
Debt's share of the balance-sheet total rises from 2.1% to 18.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€5,417▲
2024 · €565
Cash flow
€4,497▲
2024 · -€495
Debt to equity
0.22▲
2024 · 0.02
ROE
-11.4%▼
2024 · -11.0%
Interest coverage
10.40▲
2024 · 0.80
Debt ≤ 1 year
€24,907▲
2024 · €3,637
Income taxes
€401▲
2024 · €381
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,910 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.9%
stopped otherwise
91%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 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% | 1.8% |
| 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 6,910 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,611 | €18,558 | €19,055 | €18,287 | €17,278 | ▼ 5.5% |
| Other operating charges640/8 | - | €1,634 | €1,892 | €1,633 | €1,827 | ▲ 11.9% |
| Gross operating margin9900 | €107,243 | €93,511 | €10,364 | €2,198 | €7,244 | ▲ 230% |
| Operating profit (loss)9901 | €98,771 | €73,320 | -€10,584 | -€17,722 | -€11,862 | ▲ 33.1% |
| Financial income75/76B | - | €974 | €963 | €28 | €2 | ▼ 93.6% |
| Recurring financial income75 | €0 | €974 | €963 | €28 | €2 | ▼ 93.6% |
| Financial charges65/66B | - | €2,357 | €942 | €707 | €521 | ▼ 26.4% |
| Recurring financial charges65 | €563 | €2,357 | €942 | €707 | €521 | ▼ 26.4% |
| Profit (loss) for the period before taxes9903 | €98,208 | €71,937 | -€10,563 | -€18,402 | -€12,381 | ▲ 32.7% |
| Income taxes67/77 | €36,433 | €29,423 | €758 | €381 | €401 | ▲ 5.3% |
| Profit (loss) for the period9904 | €61,776 | €42,514 | -€11,321 | -€18,782 | -€12,781 | ▲ 31.9% |
| Profit (loss) for the period to be appropriated9905 | €61,776 | €42,514 | -€11,321 | -€18,782 | -€12,781 | ▲ 31.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €273,661 | €277,568 | €239,610 | €175,048 | €137,318 | ▼ 21.6% |
| Fixed assets21/28 | €107,354 | €66,398 | €47,343 | €29,056 | €11,778 | ▼ 59.5% |
| Tangible fixed assets22/27 | €75,854 | €66,398 | €47,343 | €29,056 | €11,778 | ▼ 59.5% |
| Furniture and vehicles24 | - | €66,398 | €47,343 | €29,056 | €11,778 | ▼ 59.5% |
| Financial fixed assets28 | €31,500 | - | - | - | - | - |
| Current assets29/58 | €166,307 | €211,170 | €192,267 | €145,992 | €125,540 | ▼ 14.0% |
| Amounts receivable after more than one year29 | - | €38,000 | - | - | - | - |
| Other amounts receivable291 | - | €38,000 | - | - | - | - |
| Amounts receivable within one year40/41 | €18,165 | €10,029 | €3,524 | €8,594 | €874 | ▼ 89.8% |
| Trade receivables40 | - | €10,029 | €3,450 | €3,202 | €874 | ▼ 72.7% |
| Other amounts receivable41 | - | - | €74 | €5,393 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €147,166 | €162,580 | €186,311 | €134,872 | €121,726 | ▼ 9.7% |
| Deferred charges and accrued income490/1 | - | €561 | €2,432 | €2,526 | €2,941 | ▲ 16.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €273,661 | €277,568 | €239,610 | €175,048 | €137,318 | ▼ 21.6% |
| Equity10/15 | €183,206 | €225,720 | €214,399 | €171,411 | €112,411 | ▼ 34.4% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €177,006 | €219,520 | €219,520 | €195,314 | €148,611 | ▼ 23.9% |
| Non-distributable reserves130/1 | - | €485 | - | - | - | - |
| Reserves not available under the articles1311 | - | €485 | - | - | - | - |
| Tax-exempt reserves132 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Distributable reserves133 | - | €214,035 | €214,520 | €190,314 | €143,611 | ▼ 24.5% |
| Profit (loss) carried forward14 | -€5,896 | - | -€11,321 | -€30,103 | -€42,400 | ▼ 40.8% |
| Amounts payable17/49 | €90,456 | €51,848 | €25,211 | €3,637 | €24,907 | ▲ 585% |
| Amounts payable after more than one year17 | €30,775 | €16,158 | - | - | - | - |
| Financial debts170/4 | - | €16,158 | - | - | - | - |
| Amounts payable within one year42/48 | €59,681 | €35,690 | €25,211 | €3,637 | €24,907 | ▲ 585% |
| Current portion of amounts payable after more than one year42 | - | €15,937 | €16,158 | €0 | - | - |
| Financial debts43 | - | - | €1,556 | €886 | €1,484 | ▲ 67.5% |
| Credit institutions430/8 | - | - | €1,556 | €886 | €1,484 | ▲ 67.5% |
| Trade debts44 | €10,100 | €12,348 | €491 | €59 | €552 | ▲ 836% |
| Suppliers440/4 | - | €12,348 | €491 | €59 | €552 | ▲ 836% |
| Taxes, remuneration and social security45 | - | €7,137 | €2,714 | €2,693 | €1,633 | ▼ 39.4% |
| Taxes450/3 | - | €7,137 | €2,714 | €2,693 | €1,633 | ▼ 39.4% |
| Other amounts payable47/48 | - | €268 | €4,291 | €0 | €21,238 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61,776 | €42,514 | -€11,321 | -€18,782 | -€12,781 | ▲ 31.9% |
| + Depreciation and write-downs630 | €6,611 | €18,558 | €19,055 | €18,287 | €17,278 | ▼ 5.5% |
| Operating cash flow (approximation) | €68,387 | €61,072 | €7,734 | -€495 | €4,497 | ▲ 1,008% |
| Investment in fixed assets (approximation) | - | €22,398 | €0 | €0 | €0 | - |
| Change in cash | - | €15,414 | €23,731 | -€51,439 | -€13,146 | ▲ 74.4% |
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
2025
09-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
10-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-06
Financial
Weakest financial yearnet -€18,782
Net result drops to -€18,782, the lowest in the series; recovery starts the following year.
30-06
Financial
Liquidity times 5current ratio 40.14
Current ratio from 7.63 to 40.14; short-term debt falls from €25,211 to €3,637.
2023
18-12
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-06
Financial
Liquidity doublescurrent ratio 5.92
Current ratio from 2.79 to 5.92; short-term debt falls from €59,681 to €35,690.
30-06
Financial
Equity above €200,000Eq €225,720 ▲23.2%
4 profitable years in a row build equity to €225,720.
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Highest result since 2019net €61,776 ▲36.6%
Operating result €98,771, net result €61,776, both a record.
30-06
Financial
Equity above €150,000Eq €183,206 ▲50.9%
3 profitable years in a row build equity to €183,206.
31-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
30-06
Financial
Equity above €100,000Eq €121,430 ▲59.3%
2 profitable years in a row build equity to €121,430.
28-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
28-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Edegem · 1 establishment unit since 2009
Ground area
696 m²
Building footprint
125 m²
Volume, LiDAR
958 m³
Parcel 11013A0218/00C004, Flanders · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
CORDIALIS
since 20092.182.810.004
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11013A0218/00C004 | Flanders | 696 m² | 1 · 125 m² | 10.1 m · 3 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 11,204 companies in this sector we hold annual accounts for 3,517. 2,607 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded01-10-2009
Fiscal year end30-06
Activities, NACEBEL 2025
82100Office administrative and support services
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0819126693
Also
9925:BE0819126693
Registered
17-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.