CORDIER BE
ActiveThe annual accounts of CORDIER BE for fiscal year 2025 show a net loss of 948% of the equity at the start of that year. The 2025 annual accounts show equity of €951k and a net result of €-2.29M. Equity is shrinking by ~36.4% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 41% of 105 sector peers (fiscal year 2025). The company has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
42
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0=
Solvency41▲+10
Growth22=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.35 against 1.1 in 2024; short-term debt: 73.1% and cash: 1.4% of total assets), and 84.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 11
Relative position
BE, all sectors
reference
Sector 11
lower
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-02-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
46 d late
2023
84 d late
2022
43 d late
2021
12 d late
2020
30 d early
2019
32 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
30-06-2026 close21-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€9.60M▼ 12.2%
2023 · €10.93M
2019: €18.01M
2020: €18.17M
2021: €10.99M
2022: €8.59M
2023: €10.93M
2019 → 2024
EBIT margin
-14.1%▼ 3.8pp
2023 · -10.3%
2019: 1.8%
2020: 0.0%
2021: -6.5%
2022: -3.5%
2023: -10.3%
2019 → 2024
Net result
€-2.29M▼ 39.0%
2024 · €-1.65M
2019: €172k
2020: €-76k
2021: €-776k
2022: €-344k
2023: €-1.23M
2024: €-1.65M
2019 → 2025
Working capital
€1.55M▲ 334%
2024 · €357k
2019: €1.94M
2020: €1.80M
2021: €1.15M
2022: €875k
2023: €-289k
2024: €357k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€10.99M-€8.59M▼ 21.9%€10.93M▲ 27.3%€9.60M▼ 12.2%
Equity€1.47M-€1.12M▼ 23.4%€-111k€242k€951k▲ 293%
Operating result€-717k-€-299k▲ 58.3%€-1.13M▼ 278%€-1.36M▼ 20.2%€-2.16M▼ 59.1%
Net result€-776k-€-344k▲ 55.7%€-1.23M▼ 259%€-1.65M▼ 33.5%€-2.29M▼ 39.0%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2.16M in 2025 against €1.36M in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.12M
Fixed assets
€92k▼ 22.6%
Current assets
€6.03M▲ 50.1%
Equity and liabilities €6.12M
Equity
€951k▲ 293%
Provisions
€599k▲ 199%
Debt
€4.57M▲ 23.7%
The debt ratio falls from 89.3% to 74.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€-2.10M▼
2024 · €-1.29M
Cash flow
€-2.23M▼
2024 · €-1.58M
Solvency
15.5%▲
2024 · 5.8%
Current ratio
1.35▲
2024 · 1.10
Quick ratio
1.03▲
2024 · 0.61
Debt / equity
4.81▼
2024 · 15.29
ROE
-240.8%▲
2024 · -681.4%
ROA
-37.4%▲
2024 · -39.8%
Interest coverage
-16.13▲
2024 · -18.99
Debt
€4.57M▲
2024 · €3.70M
Debt ≤ 1 year
€4.48M▲
2024 · €3.66M
Income taxes
€2k▼
2024 · €3k
Staff costs
€1.85M▲
2024 · €1.74M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€4.14M€6.12M▲
Formation expenses20€5k€3k▼
Fixed assets21/28€118k€92k▼
Intangible fixed assets21€2k€0▼
Tangible fixed assets22/27€116k€92k▼
Plant, machinery and equipment23€10k€12k▲
Furniture and vehicles24€71k€57k▼
Other tangible fixed assets26€35k€23k▼
Current assets29/58€4.02M€6.03M▲
Stocks and contracts in progress3€1.80M€1.41M▼
Stocks30/36€1.80M€1.41M▼
Goods purchased for resale34€1.80M-
Advance payments36€388-
Amounts receivable within one year40/41€1.47M€4.40M▲
Trade receivables40€1.47M€1.40M▼
Other amounts receivable41€750€3.00M▲
Cash at bank and in hand54/58€688k€84k▼
Deferred charges and accrued income490/1€57k€126k▲
Equity and liabilities
Total equity and liabilities10/49€4.14M€6.12M▲
Equity10/15€242k€951k▲
Contributions10/11€2.15M€5.15M▲
Reserves13€38k€38k=
Tax-exempt reserves132€38k€38k=
Profit (loss) carried forward14€-1.95M€-4.24M▼
Provisions and deferred taxes16€200k€599k▲
Provisions for liabilities and charges160/5€200k€599k▲
Other liabilities and charges164/5€200k€599k▲
Amounts payable17/49€3.70M€4.57M▲
Amounts payable within one year42/48€3.66M€4.48M▲
Trade debts44€2.03M€2.36M▲
Suppliers440/4€2.03M€2.36M▲
Taxes, remuneration and social security45€324k€392k▲
Taxes450/3€173k€211k▲
Remuneration and social security454/9€151k€181k▲
Other amounts payable47/48€1.30M€1.73M▲
Accrued charges and deferred income492/3€39k€96k▲
Income statement
Code20242025
Operating income70/76A€10.06M-
Turnover70€9.60M-
Other operating income74€450k-
Non-recurring operating income76A€12k€15k▲
Operating charges60/66A€11.41M-
Goods for resale, raw materials and consumables60€6.00M-
Purchases600/8€5.75M-
Change in stocks: decrease (increase)609€250k-
Services and other goods61€1.91M-
Remuneration, social security and pensions62€1.74M€1.85M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€67k€56k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€2k€-123k▼
Other operating charges640/8€1.66M€1.70M▲
Non-recurring operating charges66A€28k€630k▲
Gross operating margin9900-€1.95M
Operating profit (loss)9901€-1.36M€-2.16M▼
Financial income75/76B€1€17▲
Recurring financial income75€1€17▲
Other financial income752/9€1-
Financial charges65/66B€288k€130k▼
Recurring financial charges65€88k€130k▲
Debt charges650€68k-
Other financial charges652/9€20k-
Non-recurring financial charges66B€200k€0▼
Profit (loss) for the period before taxes9903€-1.64M€-2.29M▼
Income taxes67/77€3k€2k▼
Taxes670/3€3k-
Profit (loss) for the period9904€-1.65M€-2.29M▼
Profit (loss) for the period to be appropriated9905€-1.65M€-2.29M▼
Appropriation of the result
Profit (loss) to be appropriated9906€-1.95M€-4.24M▼
Profit (loss) brought forward from the previous period14P€-298k€-1.95M▼
Transfer from equity791/2€0-
From reserves792€0-
Social balance
Average headcount (FTE)908721.618.0▼
The notes to these accounts (21 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-02
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
30-06
Financial
Weakest financial yearnet €-2.29M
Net result drops to €-2.29M, the lowest in the series.
30-06
Financial
Equity above €500kEq €951k ▲293%
Equity rises from €242k to €951k.
18-03
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 46 days late
2024
30-06
Financial
Equity above €200kEq €242k
Equity rises from €-111k to €242k.
24-04
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 84 days late
2023
15-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 43 days late
2022
12-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 12 days late
2021
31-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
30-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
04-01
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
27-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
16-09
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.
Directors · office · real estate
Directors
no sitting director, no change since 2025
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-09-2025
Mathieu Dienst: Resigned as Manager
15-12-2022
Johanna OLDE OLTHOF: Resigned as Director
02-11-2020
Baarsma Wine Group Holding B.V.: Resigned as Director
18-05-2020
BAARSMA WINE GROUP HOLDING: Resigned as Director
Location & real-estate footprint
Registered office, Hasselt · 1 establishment unit since 1994
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Kempische steenweg 3053500 HasseltGround area
8,094 m²
Building footprint
3,791 m²
Volume, LiDAR
26,093 m³
2 parcels, Flanders · tallest building 21.5 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Cordier BE/Cordier BNL
since 19942.102.775.797
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71324E0542/00S000 | Flanders | 6,293 m² | 1 · 2,292 m² | 8.2 m |
| 71322A0540/00E002 | Flanders | 1,801 m² | 1 · 1,499 m² | 21.4 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 6,181 EUR awarded · 5,786 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 4,369 EUR | 3,974 EUR |
| 2023 | 1 | 1,812 EUR | 1,812 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteHasselt2.102.775.797
Legal Entity Identifier
9845004B11506EE9G972
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DOMAINE W
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BLMS
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Likeurstokerij Lanneau
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Domaine Viticole de la Ferme du Chapitre
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Of 187 companies in sector 11020 we hold annual accounts for 73. 38 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded26-01-1990
Fiscal year end30-06
Activities, NACEBEL
11020Manufacture of beverages
15930
46341Wholesale of wines and spirits
46349Wholesale of beverages, general range
47252Retail sale of beverages, general range
47279Other retail sale of food
47299Retail trade
51340
52250Logistics services
52272
Sources
Crossroads Bank for EnterprisesNational Bank · 35 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.