COREC
ActiveSummary
COREC has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €12,537 and a net result of €23,784. Its solvency ranks better than 32% of 2,589 sector peers (NACE 85, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
- Equity
- €12,537
- Profit
- €23,784
Why 96raises riskFounded in 2024lowers riskSector: Education (NACE 85)Liquidity: current ratio 1.21, cash €23,338Size: total assets €57,509Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 85, micro): better than 31% on solvency, 48% on liquidity, 90% on profitability and 96% on growth.
The bankruptcy probability was computed on 24-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 2 accounts on average 27 days before the deadline; the sector median (NACE 85) for financial year 2024 is 16 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Back to profitnet €23,784
- Liquidity doublescurrent ratio 1.21
Financials · financial year 2025, micro format
2024 to 2025, 2 financial years
The operating result returns to profit in 2025: €31,832 after a loss of €15,164 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 85, Education: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Peer companies
Historical observationOf the 7,976 companies that looked in July 2024 the way this one looks now, 3.6% went bankrupt within 24 months and 94.3% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 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% | 0.9% |
| 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 74.5% 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 7,976 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.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30 | €721 | ▲ 24× |
| Other operating charges640/8 | - | €139 | - |
| Gross operating margin9900 | -€15,133 | €32,691 | - |
| Operating profit (loss)9901 | -€15,164 | €31,832 | - |
| Financial charges65/66B | €1,007 | €4,899 | ▲ 387% |
| Recurring financial charges65 | €1,007 | €4,899 | ▲ 387% |
| Profit (loss) for the period before taxes9903 | -€16,170 | €26,933 | - |
| Income taxes67/77 | €76 | €3,149 | ▲ 42× |
| Profit (loss) for the period9904 | -€16,246 | €23,784 | - |
| Profit (loss) for the period to be appropriated9905 | -€16,246 | €23,784 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €22,369 | €57,509 | ▲ 157% |
| Fixed assets21/28 | €1,979 | €5,691 | ▲ 188% |
| Tangible fixed assets22/27 | €1,979 | €5,691 | ▲ 188% |
| Furniture and vehicles24 | - | €1,742 | - |
| Other tangible fixed assets26 | €1,979 | €3,949 | ▲ 99.6% |
| Current assets29/58 | €20,390 | €51,818 | ▲ 154% |
| Amounts receivable within one year40/41 | €16,963 | €26,494 | ▲ 56.2% |
| Trade receivables40 | €16,963 | €26,494 | ▲ 56.2% |
| Cash at bank and in hand54/58 | €1,178 | €23,338 | ▲ 20× |
| Deferred charges and accrued income490/1 | €2,249 | €1,986 | ▼ 11.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €22,369 | €57,509 | ▲ 157% |
| Equity10/15 | -€11,246 | €12,537 | - |
| Contributions10/11 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€16,246 | €7,537 | - |
| Amounts payable17/49 | €33,615 | €44,971 | ▲ 33.8% |
| Amounts payable within one year42/48 | €33,615 | €42,650 | ▲ 26.9% |
| Financial debts43 | €219 | €0 | ▼ 100% |
| Credit institutions430/8 | €219 | €0 | ▼ 100% |
| Trade debts44 | €3,549 | €4,633 | ▲ 30.5% |
| Suppliers440/4 | €3,549 | €4,633 | ▲ 30.5% |
| Taxes, remuneration and social security45 | €161 | €3,225 | ▲ 20× |
| Taxes450/3 | €161 | €3,225 | ▲ 20× |
| Other amounts payable47/48 | €29,686 | €34,792 | ▲ 17.2% |
| Accrued charges and deferred income492/3 | - | €2,321 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€16,246 | €23,784 | - |
| + Depreciation and write-downs630 | €30 | €721 | ▲ 24× |
| Operating cash flow (approximation) | -€16,216 | €24,504 | - |
| Investment in fixed assets (approximation) | - | -€4,433 | - |
| Change in cash | - | €22,160 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 02-07-2026 | 2026-00239783 |
| 31-12-2024 | micro format | 07-07-2025 | 2025-00235660 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Eleftherios Choustoulakis |
|
Owners and capital
Capital and shareholders
- Eleftherios Choustoulakis sole founder · 100% at incorporation
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 08-08-2024 Incorporation · €5,000
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
08-08
Gazette deed
IncorporationAppointment: Eleftherios Choustoulakis (director) · Founder · Founding capital7 facts ▸
- Founder, Eleftherios Choustoulakis
- Founding capital, €5,000
- Incorporation, 31-07-2024
- Other provision, “aanneming statuten, statuten” (deed in Dutch)
- Registered office clause, “1700 Dilbeek,Moortebeekstraat 53” (deed in Dutch)
- Board rule, 1
- Director appointment, Eleftherios Choustoulakis (director (not named in the articles))
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 25 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 23016D0276/00X000 | Flanders | 6,386 m² | 1 · 414 m² | 12.5 m · 2 |
How the parcels are linked
Articles of association
What the company does
- Name clauseThe name the company operates under according to its articles.
- COREC
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest, exploitatiezetels oprichten of opheffen bij enkel besluit van het bestuursorgaan wanneer en waar nodig,voor zover geen…” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- One provision in the deed
- Power of attorneyA special mandate allowing someone to perform one or more acts on the company's behalf.
- One provision in the deed
Capital, shares and profit
- Share issue ruleHow and by whom new shares can be issued.
- “100, gelijk recht in de winstverdeling” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of June at 20:00