CORETEC ENGINEERING
Open bankruptcyA bankruptcy procedure is open for CORETEC ENGINEERING according to publications in the Belgian State Gazette; curator: PIERRE HENRY. The 2022 annual accounts show equity of €407k and a net result of €-303k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 30-08-2023, 30 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
not filed
2023
not filed
2022
30 d late
2021
30 d late
2020
39 d late
2019
on the day
← before the deadline
after the deadline →
Financials · fiscal year 2022, full schema
Turnover
€5.17M▼ 7.2%
2020 · €5.57M
2018: €10.25M
2019: €8.33M
2020: €5.57M
2018 → 2022
EBIT margin
1.4%▼ 0.1pp
2020 · 1.6%
2018: 3.3%
2019: -0.1%
2020: 1.6%
2018 → 2022
Net result
€-303k
2021 · €119k
2018: €44k
2019: €-649k
2020: €2k
2021: €119k
2018 → 2022
Working capital
€-251k▼ 75.4%
2021 · €-143k
2018: €621k
2019: €274k
2020: €253k
2021: €-143k
2018 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Turnover€10.25M-€8.33M▼ 18.7%€5.57M▼ 33.2%€5.17M
Equity€1.00M-€320k▼ 68.0%€613k▲ 91.2%€722k▲ 17.8%€407k▼ 43.6%
Operating result€341k-€-10k€87k€-62k€75k
Net result€44k-€-649k€2k€119k▲ 6,880%€-303k
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2022: €75k after a loss of €62k in 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €4.57M
Fixed assets
€700k▼ 30.4%
Current assets
€3.87M▲ 5.5%
Equity and liabilities €4.64M
Equity
€407k▼ 43.6%
Provisions
€112k▼ 46.6%
Debt
€4.12M▲ 6.1%
The debt ratio rises from 80.7% to 88.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€133k▲
2021 · €-21k
Cash flow
€-244k▼
2021 · €160k
Solvency
8.8%▼
2021 · 15.0%
Current ratio
0.94▼
2021 · 0.96
Quick ratio
0.69▲
2021 · 0.55
Debt / equity
10.13▲
2021 · 5.38
ROE
-74.3%▼
2021 · 16.4%
ROA
-6.5%▼
2021 · 2.5%
Interest coverage
1.68▲
2021 · -0.35
Debt
€4.12M▲
2021 · €3.89M
Debt ≤ 1 year
€4.12M▲
2021 · €3.81M
Income taxes
€2k▲
2021 · €-15k
Staff costs
€697k▼
2021 · €883k
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 · 2022 against 2021
Balance sheet
Code20212022
Assets
Total assets20/58€4.82M€4.64M▼
Formation expenses20€141k€71k▼
Fixed assets21/28€1.01M€700k▼
Intangible fixed assets21€20k€12k▼
Tangible fixed assets22/27€38k€28k▼
Plant, machinery and equipment23€699€452▼
Furniture and vehicles24€10k€2k▼
Other tangible fixed assets26€28k€26k▼
Financial fixed assets28€948k€659k▼
Current assets29/58€3.67M€3.87M▲
Amounts receivable after more than one year29-€625k
Trade receivables290-€625k
Stocks and contracts in progress3€1.59M€1.02M▼
Stocks30/36€66k€66k=
Contracts in progress37€1.52M€950k▼
Amounts receivable within one year40/41€1.79M€2.13M▲
Trade receivables40€1.73M€2.04M▲
Other amounts receivable41€60k€87k▲
Cash at bank and in hand54/58€240k€93k▼
Deferred charges and accrued income490/1€47k€10k▼
Equity and liabilities
Total equity and liabilities10/49€4.82M€4.64M▼
Equity10/15€722k€407k▼
Contributions10/11€921k€921k=
Capital10€921k€921k=
Issued capital100€921k€921k=
Reserves13€29k€29k=
Non-distributable reserves130/1€29k€29k=
Legal reserve130€29k€29k=
Profit (loss) carried forward14€-328k€-630k▼
Investment grants15€100k€87k▼
Provisions and deferred taxes16€210k€112k▼
Provisions for liabilities and charges160/5€210k€112k▼
Other liabilities and charges164/5€210k€112k▼
Amounts payable17/49€3.89M€4.12M▲
Amounts payable within one year42/48€3.81M€4.12M▲
Current portion of amounts payable after more than one year42€8k€0▼
Financial debts43€1.39M€1.39M▲
Credit institutions430/8€1.39M€20k▼
Other loans439-€1.37M
Trade debts44€1.25M€1.05M▼
Suppliers440/4€1.25M€1.05M▼
Advances received on contracts in progress46€663k€1.18M▲
Taxes, remuneration and social security45€151k€116k▼
Taxes450/3€16k€14k▼
Remuneration and social security454/9€135k€101k▼
Other amounts payable47/48€361k€384k▲
Accrued charges and deferred income492/3€72k€0▼
Income statement
Code20212022
Turnover70-€5.17M
Non-recurring operating income76A€3k€912▼
Goods, raw materials, services and sundry goods60/61-€9.76M
Remuneration, social security and pensions62€883k€697k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€41k€58k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€542k€273k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-403k€-98k▲
Other operating charges640/8€143k€158k▲
Non-recurring operating charges66A€1€33k▲
Gross operating margin9900€1.14M€1.20M▲
Operating profit (loss)9901€-62k€75k▲
Financial income75/76B€226k€13k▼
Recurring financial income75€20k€13k▼
Non-recurring financial income76B€206k-
Financial charges65/66B€60k€388k▲
Recurring financial charges65€60k€79k▲
Non-recurring financial charges66B-€309k
Profit (loss) for the period before taxes9903€103k€-300k▼
Income taxes67/77€-15k€2k▲
Profit (loss) for the period9904€119k€-303k▼
Profit (loss) for the period to be appropriated9905€119k€-303k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-322k€-630k▼
Profit (loss) brought forward from the previous period14P€-440k€-328k▲
Transfer to equity691/2€6k€0▼
To the legal reserve6920€6k-
Social balance
Average headcount (FTE)908713.110.4▼
The notes to these accounts (23 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
01-03
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · CORETEC ENGINEERING SA RUE DES GARDES-FRONTIERE 1, 4031 ANGLEUR · event 26-02-2024
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 30 days late
2021
31-12
Financial
Highest result since 2018net €119k ▲6880%
Net result €119k, the highest in the series.
08-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 39 days late
2020
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
31-12
Financial
Equity above €500kEq €613k ▲91.2%
Equity rises from €320k to €613k.
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €-649k ▼1560%
Net result drops to €-649k, the lowest in the series.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 25 days late
2016
30-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 30 days late
2015
18-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 18 days late
2014
25-07
NBB filing
Annual accounts filed
fiscal year 2013 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
15 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, Liège · 1 establishment unit since 2004
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.
Rue des Gardes-frontière 14031 LiègeGround area
4,883 m²
Building footprint
747 m²
Volume, LiDAR
5,252 m³
Parcel 62002C0005/00H006, Wallonia · tallest building 8.6 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CORETEC ENGINEERING
since 20042.138.029.854
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62002C0005/00H006 | Wallonia | 4,883 m² | 1 · 747 m² | 8.6 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | PIERRE HENRY BOULEVARD DE LA SAUVENIERE 117,
4000 LIEGE 1 |
26-02-2024 → present |
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Of 685 companies in sector 74112 we hold annual accounts for 312. 240 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded07-07-2004
Fiscal year end31-12
Activities, NACEBEL
74112Other professional, scientific and technical activities
43222Installation of electric heating, air conditioning, cooling and ventilation
95100Repair and maintenance of computers and communication equipment
95110Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
95120Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
95290Repair and maintenance of other personal and household goods
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.