Losses
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
CORETEC PROJECTS pays its suppliers 373 days later than in 2024.
Higher solvency than 95% of companies in architecture and engineering. Sector median 41.3% · 892 companies.
The dashed line is the sector median: 0.1% across 14,830 companies (NACE 71, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 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 71, micro). It does better than 87% of them on solvency, 97% on liquidity, 15% on profitability and 32% on growth.
The bankruptcy probability was computed on 07-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 2,145 companies had the same profile as CORETEC PROJECTS has now. Each dot stands for 6 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CORETEC PROJECTS itself is lower: 0.1% within 12 months. It rests on far more data about CORETEC PROJECTS than the profile alone.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,145 companies, not a prediction for CORETEC PROJECTS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is ample, with a current ratio of 22.64, above the usual 1.5. Short-term debt is 4.4% and cash 98.8% of total assets. 4.4% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 2 accounts on average 24 days before the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CORETEC PROJECTS Awans | €95,864 | -€4,139 | 95.6% | - |
| NIVE SERVICES Herve | €90,192 | €987 | 73.9% | - |
| Slim Vehicle Technology Pelt | €92,251 | -€4,182 | 97.1% | - |
| HENSOL Mortsel | €103,165 | -€39,666 | -106.8% | - |
| FIMACOOL Sint-Pieters-Leeuw | €93,103 | -€1,777 | 19.2% | - |
| Warmtenet Arendonk Turnhout | €85,894 | -€1,672 | 5.8% | 0 |
| Synergie Projectmanagement Antwerp | €108,201 | -€29,952 | -67.5% | 0.9 |
These companies have the same main activity as CORETEC PROJECTS: engineering and related technical consultancy, excluding land surveyors (NACE 71121). They are comparable in size and age: total assets between €85,900 and €108,000, founded in 2023.
CORETEC PROJECTS has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €91,629 and a net result of -€4,854.
Its solvency ranks better than 95% of 892 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
Higher than 95% of 892 companies in 2025.
Higher than 95% of 880 companies in 2025.
Higher than 16% of 891 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
95,864 | 96,483 | |
29/58 |
95,864 | 96,483 | |
40/41 |
1,194 | 50,365 | |
41 |
1,194 | 50,365 | |
54/58 |
94,670 | 46,118 | |
| Balance sheet: equity and liabilities | |||
10/49 |
95,864 | 96,483 | |
10/15 |
91,629 | 96,483 | |
10/11 |
100,000 | 100,000 | |
10 |
100,000 | 100,000 | |
100 |
100,000 | 100,000 | |
14 |
-8,371 | -3,517 | |
17/49 |
4,235 | 0 | |
42/48 |
4,235 | 0 | |
44 |
4,235 | 0 | |
440/4 |
4,235 | 0 | |
47/48 |
- | 0 | |
| Income statement | |||
9900 |
-4,139 | -1,936 | |
60/61 |
4,139 | 1,936 | |
640/8 |
400 | 1,079 | |
9901 |
-4,539 | -3,015 | |
65/66B |
314 | 502 | |
65 |
314 | 502 | |
9903 |
-4,854 | -3,517 | |
9904 |
-4,854 | -3,517 | |
9905 |
-4,854 | -3,517 | |
| Appropriation of the result | |||
9906 |
-8,371 | -3,517 | |
14P |
-3,517 | - | |
| Document | |||
Source: Annual accounts 2025 at the NBB, filed on 15-06-2026.
| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 48,552 | - | ||
| 91,629 | 96,483 | ||
| 95.6% | 100.0% | ||
| 22.64 | - | ||
| 0.05 | 0.00 | ||
| -5.3% | -3.6% | ||
| -5.1% | -3.6% | ||
| 373 days | 0 days |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
The operating result for 2025 is a loss of €4,539, larger than the loss of €3,015 in 2024.
Debt's share of the balance-sheet total is 4.4%.
Further up the chainBlue Pearl Energy Holdings SAS LU consolidates
Source: parent in its own accounts, lists of holdings in the owners' accounts
1 other company of this director went bankrupt (2024).
1 other company of this director went bankrupt (2021).
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it.
Source: list of holdings in the 2025 accounts of CORETEC ENERGY. Holdings that file themselves stand with their latest accounts, the others with the amounts of that list, in their own currency.
Part of the group CORETEC ENERGY Group, risk and exposure| CORETEC Services
registered office since 26-01-2017 · founded in 2017 · group CORETEC ENERGY |
3.7 FTE (2025) 0670.423.814 |
| COGENFIN
registered office since 01-03-2018 · founded in 2018 |
turnover €4.1m (2025) 0691.652.164 |
| CORETEC ENERGY
registered office since 15-12-2016 · founded in 2016 |
3.8 FTE (2025) 0667.749.186 |
| ENERGYS
registered office since 01-09-2004 · founded in 2004 |
60 FTE (2025) 0866.925.721 |
| CORETEC INVOICING
registered office since 23-09-2010 · founded in 2010 · group CORETEC ENERGY |
3.4 FTE (2025) 0829.505.101 |
| ENERGYS MAINTENANCE
registered office since 21-05-2010 · founded in 2010 |
10 FTE (2025) 0824.920.167 |
| CORETEC MONITORING
registered office since 26-06-2018 · founded in 2018 · group CORETEC ENERGY |
turnover €77,755 (2025) 0698.826.602 |
| COGEN SERVICE
registered office since 29-06-2017 · founded in 2017 |
turnover €68,081 (2025) 0677.717.917 |
| RAY via JANUS, no longer at RAY · Director · deed of 08-06-2020 Bankrupt |
22 FTE (2019) |
| CORETEC ENGINEERING via FBR Management, at CORETEC PROJECTS until 2025 · Managing director · deed of 17-12-2020 Open bankruptcy · founded in 2004 |
10 FTE (2022) |
| IMMOBERNEAU via FBR Management, at CORETEC PROJECTS until 2025 · Director (not named in the articles) · deed of 20-06-2023 founded in 2016 · negative equity (2025) |
total assets €1.1m (2025) |
| Azimut Energy via FBR Management, at CORETEC PROJECTS until 2025 · Director (not named in the articles) · deed of 23-07-2025 founded in 2023 |
total assets €2.2m (2025) |
| CORETEC INVOICING via FBR Management, at CORETEC PROJECTS until 2025 · Director · deed of 17-12-2020 founded in 2010 · group CORETEC ENERGY |
3.4 FTE (2025) |
| Actyve via FBR Management, at CORETEC PROJECTS until 2025 · Director (not named in the articles) · deed of 26-02-2026 founded in 2024 |
total assets €38,314 (2025) |
| Viabuild Sud via JANUS, no longer at Viabuild Sud · Director · deed of 04-04-2022 No longer active |
73 FTE (2024) |
Deadline for the 2026 accounts: 31-07-2027
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
CORETEC PROJECTS was incorporated on 16 June 2023 as a public limited company by CORETEC ENERGY, with a starting capital of €100,000.12 In 2025 the company took the name Coretec Projects.3 The registered office was moved to Awans in 2025.3 The board currently has 3 members. CORETEC ENERGY has served longest, since 2023.4
| Establishment | Since | Unit number |
|---|---|---|
| Coretec Solar registered office Rue de la Chaudronnerie 14, 4340 Awans | 16-06-2023 | 2.358.684.266 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 62006B0355/00G000 | 4,223 m² | 1 · 1,337 m² | 7.8 m · 2 |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0802.832.574
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