CORE SYSTEMS
ActiveThe annual accounts of CORE SYSTEMS for fiscal year 2024 show a net loss of 58% of the equity at the start of that year. The 2024 annual accounts show equity of €15k and a net result of €-21k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 20785 sector peers (fiscal year 2024). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
49
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0=
Solvency41▼-33
Growth32=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 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 1.14 against 1.75 in 2023; short-term debt: 84% and cash: 50.3% of total assets), and 84% 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 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
16%
Return on assets
-22.3%
Age of the figures
21 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 · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-21k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 20785 sector peers (2024).
NBB · sector comparisonPosition among 20785 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 13-08-2025, 13 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
not confirmed
2024
13 d late
2023
61 d late
2022
7 d late
2021
22 d late
2020
22 d early
2019
34 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€15k▼ 58.2%
2023 · €36k
2018: €66k
2019: €132k
2020: €217k
2021: €288k
2022: €340k
2023: €36k
2018 → 2024
Total assets
€94k▲ 28.2%
2023 · €73k
2018: €247k
2019: €291k
2020: €379k
2021: €468k
2022: €510k
2023: €73k
2018 → 2024
Net result
€-21k▲ 93.1%
2023 · €-304k
2018: €46k
2019: €67k
2020: €85k
2021: €71k
2022: €52k
2023: €-304k
2018 → 2024
Working capital
€11k▼ 61.4%
2023 · €28k
2018: €48k
2019: €119k
2020: €206k
2021: €277k
2022: €331k
2023: €28k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€217k-€288k▲ 32.6%€340k▲ 18.1%€36k▼ 89.5%€15k▼ 58.2%
Operating result€118k-€101k▼ 14.2%€73k▼ 27.2%€-305k€-19k▲ 93.7%
Net result€85k-€71k▼ 16.5%€52k▼ 26.3%€-304k€-21k▲ 93.1%
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 €19k in 2024 against €305k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €94k
Fixed assets
€4k▼ 47.3%
Current assets
€89k▲ 37.6%
Equity and liabilities €94k
Equity
€15k▼ 58.2%
Debt
€79k▲ 111%
The debt ratio rises from 51.0% to 84.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-18k▲
2023 · €-297k
Cash flow
€-20k▲
2023 · €-296k
Solvency
16.0%▼
2023 · 49.0%
Current ratio
1.14▼
2023 · 1.75
Quick ratio
1.14▼
2023 · 1.75
Debt / equity
5.26▲
2023 · 1.04
ROE
-139.4%▲
2023 · -848.9%
ROA
-22.3%▲
2023 · -416.3%
Interest coverage
-10.32▲
2023 · -967.48
Debt
€79k▲
2023 · €37k
Debt ≤ 1 year
€79k▲
2023 · €37k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€73k€94k▲
Fixed assets21/28€8k€4k▼
Tangible fixed assets22/27€8k€4k▼
Furniture and vehicles24€8k€4k▼
Current assets29/58€65k€89k▲
Amounts receivable within one year40/41€54k€40k▼
Trade receivables40€3k€4k▲
Other amounts receivable41€51k€37k▼
Cash at bank and in hand54/58€8k€47k▲
Deferred charges and accrued income490/1€3k€2k▼
Equity and liabilities
Total equity and liabilities10/49€73k€94k▲
Equity10/15€36k€15k▼
Contributions10/11€7k€7k=
Capital10€7k€7k=
Issued capital100€19k€19k=
Uncalled capital101€12k€12k=
Reserves13€274k€274k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Distributable reserves133€272k€272k=
Profit (loss) carried forward14€-245k€-265k▼
Amounts payable17/49€37k€79k▲
Amounts payable within one year42/48€37k€79k▲
Financial debts43-€45k
Other loans439-€45k
Trade debts44€21k€628▼
Suppliers440/4€21k€628▼
Taxes, remuneration and social security45€2k€276▼
Taxes450/3€2k€32▼
Remuneration and social security454/9-€244
Other amounts payable47/48€15k€33k▲
Income statement
Code20232024
Non-recurring operating income76A-€6k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€1k▼
Other operating charges640/8€632€817▲
Non-recurring operating charges66A€703-
Gross operating margin9900€-295k€-17k▲
Operating profit (loss)9901€-305k€-19k▲
Financial income75/76B€1k-
Recurring financial income75€1k-
Financial charges65/66B€307€2k▲
Recurring financial charges65€307€2k▲
Profit (loss) for the period before taxes9903€-304k€-21k▲
Income taxes67/77€-129-
Profit (loss) for the period9904€-304k€-21k▲
Profit (loss) for the period to be appropriated9905€-304k€-21k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-245k€-265k▼
Profit (loss) brought forward from the previous period14P€59k€-245k▼
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
31-12
Financial
Weakest financial yearnet €-304k ▼683%
Net result drops to €-304k, the lowest in the series; recovery starts the following year.
07-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 7 days late
2022
22-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €85k ▲27.3%
Operating result €118k, net result €85k, both a record.
31-12
Financial
Equity above €200kEq €217k ▲64.1%
3 profitable years in a row build equity to €217k.
03-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 34 days late
2019
31-12
Financial
Equity above €100kEq €132k ▲101%
2 profitable years in a row build equity to €132k.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
16-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 16 days late
2017
07-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 7 days late
2016
17-08
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 17 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Gent · 1 establishment unit since 2013
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.
Sint-Salvatorstraat 249000 GentGround area
246 m²
Building footprint
188 m²
Volume, LiDAR
1,196 m³
Parcel 44021A2593/00C000, Flanders · tallest building 12.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CORE SYSTEMS
since 20132.217.812.750
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44021A2593/00C000 | Flanders | 246 m² | 1 · 188 m² | 12.8 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.
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Of 30,000 companies in sector 62200 we hold annual accounts for 18,394. 11,673 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded21-02-2013
Fiscal year end31-12
Activities, NACEBEL
62020IT consultancy
62200Computer consultancy and computer facilities management
Sources
Crossroads Bank for EnterprisesNational Bank · 11 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.