CORDONA WIND
ActiveCORDONA WIND has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.30M and a net result of €-473k. Equity remains stable across the filed fiscal years (±0.5% per year). Its solvency ranks better than 61% of 267 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability33▼-21
Solvency58▼-8
Growth47▼-11
Stability100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110k at 30 days only on tighter terms
Liquidity short (current ratio 0.82 against 1.32 in 2024), and 60.5% of the assets are financed with debt.
Credit advice for your own amount and term
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 35
Relative position
BE, all sectors
reference
Sector 35
lower
← 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
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 01-10-2025, 30 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
30 d early
2024
34 d early
2023
11 d early
2021
82 d early
2020
39 d early
2019
81 d early
2018
76 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close11-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, full schema
Turnover
€1.13M▼ 36.5%
2024 · €1.78M
2018: €1.05M
2019: €2.43M
2020: €2.71M
2021: €2.34M
2023: €4.76M
2024: €1.78M
2018 → 2025
EBIT margin
-24.2%▼ 43.7pp
2024 · 19.6%
2018: 63.4%
2019: 38.0%
2020: 47.8%
2021: 32.5%
2023: 55.8%
2024: 19.6%
2018 → 2025
Net result
€-473k
2024 · €87k
2018: €502k
2019: €475k
2020: €893k
2021: €319k
2023: €1.71M
2024: €87k
2018 → 2025
Working capital
€-203k
2024 · €406k
2018: €-12.69M
2019: €219k
2020: €362k
2021: €463k
2023: €575k
2024: €406k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Turnover€2.71M-€2.34M▼ 13.8%€4.76M▲ 104%€1.78M▼ 62.6%€1.13M▼ 36.5%
Equity€3.73M-€3.75M▲ 0.5%€3.77M▲ 0.3%€3.77M▲ 0.1%€3.30M▼ 12.5%
Operating result€1.30M-€761k▼ 41.4%€2.66M▲ 249%€349k▼ 86.9%€-273k
Net result€893k-€319k▼ 64.2%€1.71M▲ 436%€87k▼ 94.9%€-473k
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €273k after €349k in 2024, the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.34M
Fixed assets
€7.42M▼ 10.4%
Current assets
€919k▼ 45.8%
Equity and liabilities €8.34M
Equity
€3.30M▼ 12.5%
Provisions
€231k▲ 18.4%
Debt
€4.81M▼ 19.9%
The debt ratio falls from 60.3% to 57.7%: debt falls faster than equity shrinks.
Key figures and ratios
EBITDA
€585k▼
2024 · €1.36M
Cash flow
€386k▼
2024 · €1.10M
Solvency
39.5%▲
2024 · 37.8%
Current ratio
0.82▼
2024 · 1.32
Quick ratio
0.82▼
2024 · 1.32
Debt / equity
1.46▼
2024 · 1.59
ROE
-14.3%▼
2024 · 2.3%
ROA
-5.7%▼
2024 · 0.9%
Interest coverage
2.95▼
2024 · 5.65
Debt
€4.81M▼
2024 · €6.01M
Debt ≤ 1 year
€1.12M▼
2024 · €1.29M
Debt > 1 year
€3.56M▼
2024 · €4.57M
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€9.97M€8.34M▼
Fixed assets21/28€8.28M€7.42M▼
Tangible fixed assets22/27€8.28M€7.42M▼
Plant, machinery and equipment23€8.11M€7.42M▼
Assets under construction and advance payments27€164k-
Current assets29/58€1.70M€919k▼
Amounts receivable within one year40/41€1.64M€868k▼
Trade receivables40€222k€233k▲
Other amounts receivable41€1.42M€635k▼
Cash at bank and in hand54/58€18k€17k▼
Deferred charges and accrued income490/1€35k€34k▼
Equity and liabilities
Total equity and liabilities10/49€9.97M€8.34M▼
Equity10/15€3.77M€3.30M▼
Contributions10/11€3.39M€3.39M=
Capital10€3.39M€3.39M=
Issued capital100€3.39M€3.39M=
Reserves13€185k€185k=
Non-distributable reserves130/1€185k€185k=
Legal reserve130€185k€185k=
Profit (loss) carried forward14€195k€-278k▼
Provisions and deferred taxes16€195k€231k▲
Provisions for liabilities and charges160/5€195k€231k▲
Environmental obligations163€195k€231k▲
Amounts payable17/49€6.01M€4.81M▼
Amounts payable after more than one year17€4.57M€3.56M▼
Financial debts170/4€4.57M€3.56M▼
Other loans174€4.57M€3.56M▼
Amounts payable within one year42/48€1.29M€1.12M▼
Current portion of amounts payable after more than one year42€1.02M€1.02M=
Trade debts44€188k€105k▼
Suppliers440/4€188k€105k▼
Other amounts payable47/48€85k-
Accrued charges and deferred income492/3€145k€130k▼
Income statement
Code20242025
Operating income70/76A€1.96M€1.18M▼
Turnover70€1.78M€1.13M▼
Other operating income74€179k€52k▼
Operating charges60/66A€1.61M€1.46M▼
Services and other goods61€472k€505k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.01M€858k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€36k€36k=
Other operating charges640/8€83k€58k▼
Non-recurring operating charges66A€14k-
Operating profit (loss)9901€349k€-273k▼
Financial income75/76B€480€1▼
Recurring financial income75€480€1▼
Income from current assets751-€0
Other financial income752/9€480€1▼
Financial charges65/66B€240k€199k▼
Recurring financial charges65€240k€199k▼
Debt charges650€240k€198k▼
Other financial charges652/9-€884
Profit (loss) for the period before taxes9903€109k€-473k▼
Income taxes67/77€22k-
Taxes670/3€27k-
Tax adjustments and reversals of tax provisions77€5k-
Profit (loss) for the period9904€87k€-473k▼
Profit (loss) for the period to be appropriated9905€87k€-473k▼
Appropriation of the result
Profit (loss) to be appropriated9906€285k€-278k▼
Profit (loss) brought forward from the previous period14P€198k€195k▼
Transfer to equity691/2€5k-
To the legal reserve6920€5k-
Profit to be distributed694/7€85k-
Return on contributions (dividend)694€85k-
The notes to these accounts (26 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
2025
01-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
31-03
Financial
Weakest financial yearnet €-473k ▼642%
Net result drops to €-473k, the lowest in the series.
2024
27-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
20-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Highest result since 2018net €1.71M ▲436%
Operating result €2.66M, net result €1.71M, both a record.
2022
10-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
11-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Liquidity times 10current ratio 1.13
Current ratio from 0.11 to 1.13; short-term debt falls from €14.32M to €1.63M.
31-12
Financial
Equity above €2MEq €3.64M ▲943%
2 profitable years in a row build equity to €3.64M.
16-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 29 days late
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.
14-11-2025
IDETA: Resigned as Director
17-05-2024
Jonathan Couvreur: Resigned as Director
17-05-2024
Jonathan Couvreur: Resigned as Managing director
01-11-2023
Cornelis de Haan: Resigned as Managing director
06-10-2021
SRL REALFI: Resigned as Manager
08-06-2021
REALFI: Resigned as Director
01-07-2018
Eneco Wind Belgium: Resigned as Director
13-07-2017
ENECO B.V.: Resigned as Director
Location & real-estate footprint
Registered office, Wavre · 1 establishment unit since 2007
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.
Chaussée de Huy 1201300 WavreGround area
2,784 m²
Building footprint
249 m²
Volume, LiDAR
1,499 m³
Parcel 25772H0095/00B004, Wallonia · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
OFF-WIND
since 20072.162.161.672
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25772H0095/00B004 | Wallonia | 2,784 m² | 1 · 249 m² | 9.0 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
1 connected companyNetwork connections
Shared address
→
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Of 816 companies in sector 35110 we hold annual accounts for 632. 372 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded24-04-2007
Fiscal year end31-03
Activities, NACEBEL
35110Production of electricity from non-renewable sources
35150Electricity, gas, steam and air conditioning supply
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 11-09-2026. Scores and ratios are computed by Checked and are not a credit decision.