CORETEC Services
ActiveSummary
CORETEC Services has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €888,560 and a net result of €386,744. Equity is growing by ~15% per year across the filed fiscal years. Its solvency ranks better than 20% of 356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2024
Axes · tick = 2023
Profitability80▲+4
Solvency30▲+2
Growth85=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55,000 at 30 days acceptable
Liquidity short (current ratio 0.73 against 0.51 in 2023; short-term debt: 15.9% and cash: 4.1% of total assets), and 94.9% of the assets are financed with debt.
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Signals
Six 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
Electricity, gas, steam and air conditioning supply (NACE 35)
about 42% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
5.1%
Return on assets
2.2%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 356 sector peers (2024).
NBB · sector comparisonPosition among 356 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-07-2025, 2 days ahead of the deadline.
NBB · 8 filingsDeviation from the deadline
2025
not confirmed
2024
2 d early
2023
22 d late
2022
30 d late
2021
30 d late
2020
25 d late
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 18 days after the deadline; the sector median for financial year 2024 is 23 days before the deadline, and 27% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
In the rankings
#10 company by total assets in Awans
Turnover
€3.1m▼ 4.7%
2023 · €3.3m
EBIT margin
22.8%▲ 0.7pp
2023 · 22.1%
Net result
€386,744▲ 325%
2023 · €90,927
Working capital
-€734,529▲ 49.5%
2023 · -€1.5m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€577,615▲ 5.8%€3.3m€3.1m▼ 4.7%
Operating result€90,487▲ 17.7%€263,671▲ 191%€261,035▼ 1.0%€727,158▲ 179%€714,962▼ 1.7%
Net result€9,756within the sector's middle half▲ 257%€86,726within the sector's middle half▲ 789%€15,665within the sector's middle half▼ 81.9%€90,927within the sector's middle half▲ 480%€386,744within the sector's middle half▲ 325%
EBIT margin15.7%▲ 1.6pp22.1%22.8%▲ 0.7pp
Equity€308,499within the sector's middle half▲ 3.3%€395,225within the sector's middle half▲ 28.1%€410,890within the sector's middle half▲ 4.0%€501,817within the sector's middle half▲ 22.1%€888,560within the sector's middle half▲ 77.1%
Total assets€7.4mwithin the sector's middle half▲ 64.0%€9.6mwithin the sector's middle half▲ 30.6%€17.4mwithin the sector's middle half▲ 80.3%€16.2mwithin the sector's middle half▼ 6.6%€17.3mwithin the sector's middle half▲ 6.9%
Debt€7.1m▲ 68.4%€9.1m▲ 28.7%€17.0m▲ 86.4%€15.7m▼ 7.3%€16.4m▲ 4.6%
Working capital€56,726within the sector's middle half▼ 77.8%-€275,319within the sector's middle half-€1.4mbelow the sector's middle half▼ 404%-€1.5mbelow the sector's middle half▼ 5.0%-€734,529below the sector's middle half▲ 49.5%
Solvency4.2%below the sector's middle half▼ 2.5pp4.1%below the sector's middle half▼ 0.1pp2.4%below the sector's middle half▼ 1.7pp3.1%below the sector's middle half▲ 0.7pp5.1%below the sector's middle half▲ 2.0pp
Current ratio1.07within the sector's middle half▼ 0.540.67within the sector's middle half▼ 0.400.53below the sector's middle half▼ 0.140.51below the sector's middle half▼ 0.020.73below the sector's middle half▲ 0.22
Return on assets (ROA)0.1%within the sector's middle half▲ 0.1pp0.9%within the sector's middle half▲ 0.8pp0.1%within the sector's middle half▼ 0.8pp0.6%within the sector's middle half▲ 0.5pp2.2%within the sector's middle half▲ 1.7pp
Staff (FTE)0.8below the sector's middle half4.3within the sector's middle half▲ 438%
above
within
below
the middle half (P25 to P75) of NACE 35, Electricity, gas, steam and air conditioning supply, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 2% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €17.3m
Fixed assets
€15.3m ▲ 4.1%
Current assets
€2.0m ▲ 34.0%
Equity and liabilities €17.3m
Equity
€888,560 ▲ 77.1%
Debt
€16.4m ▲ 4.6%
Debt's share of the balance-sheet total falls from 96.9% to 94.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.0m▲
2023 · €1.9m
Cash flow
€1.7m▲
2023 · €1.3m
Quick ratio
0.73▲
2023 · 0.51
Debt to equity
18.51▼
2023 · 31.33
ROE
43.5%▲
2023 · 18.1%
Interest coverage
5.87▲
2023 · 5.43
Debt ≤ 1 year
€2.8m▼
2023 · €3.0m
Debt > 1 year
€13.0m▲
2023 · €12.3m
Income taxes
€757▲
2023 · €37
Staff costs
€333,875▲
2023 · €75,211
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,250 companies that looked in July 2024 the way this one looks now, 2.4% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.4%
went bankrupt
2.6%
stopped otherwise
94%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.3% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,250 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €577,615 | - | - | €3.3m | €3.1m | ▼ 4.7% |
| Non-recurring operating income76A | - | - | - | - | €0 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €775,448 | €1.3m | €1.0m | ▼ 18.6% |
| Remuneration, social security and pensions62 | - | - | - | €75,211 | €333,875 | ▲ 344% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €254,997 | €422,860 | €506,365 | €1.2m | €1.3m | ▲ 7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | €137,510 | -€137,510 | - | - | - |
| Other operating charges640/8 | - | €2,245 | €2,954 | €3,689 | €3,891 | ▲ 5.5% |
| Non-recurring operating charges66A | - | - | - | €0 | €0 | - |
| Gross operating margin9900 | €347,094 | €826,286 | €632,845 | €2.0m | €2.3m | ▲ 16.5% |
| Operating profit (loss)9901 | €90,487 | €263,671 | €261,035 | €727,158 | €714,962 | ▼ 1.7% |
| Financial income75/76B | - | €10,054 | €223 | €11,706 | €13,508 | ▲ 15.4% |
| Recurring financial income75 | - | €10,054 | €223 | €11,706 | €508 | ▼ 95.7% |
| Non-recurring financial income76B | - | - | - | - | €13,000 | - |
| Financial charges65/66B | - | €186,999 | €245,594 | €647,900 | €340,969 | ▼ 47.4% |
| Recurring financial charges65 | €80,731 | €186,999 | €245,594 | €355,400 | €340,969 | ▼ 4.1% |
| Non-recurring financial charges66B | - | - | - | €292,500 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €9,756 | €86,726 | €15,665 | €90,964 | €387,501 | ▲ 326% |
| Income taxes67/77 | - | - | - | €37 | €757 | ▲ 1,931% |
| Profit (loss) for the period9904 | €9,756 | €86,726 | €15,665 | €90,927 | €386,744 | ▲ 325% |
| Profit (loss) for the period to be appropriated9905 | €9,756 | €86,726 | €15,665 | €90,927 | €386,744 | ▲ 325% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €7.4m | €9.6m | €17.4m | €16.2m | €17.3m | ▲ 6.9% |
| Formation expenses20 | €690 | €345 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €6.5m | €9.1m | €15.8m | €14.7m | €15.3m | ▲ 4.1% |
| Tangible fixed assets22/27 | €6.3m | €8.6m | €15.3m | €14.4m | €15.3m | ▲ 6.1% |
| Plant, machinery and equipment23 | - | €3.9m | €10.8m | €14.4m | €13.2m | ▼ 8.8% |
| Assets under construction and advance payments27 | - | €4.8m | €4.5m | €0 | €2.1m | - |
| Financial fixed assets28 | €158,740 | €418,740 | €526,240 | €283,740 | €0 | ▼ 100% |
| Current assets29/58 | €882,357 | €562,486 | €1.5m | €1.5m | €2.0m | ▲ 34.0% |
| Amounts receivable after more than one year29 | - | - | €0 | €0 | - | - |
| Trade receivables290 | - | - | - | €0 | - | - |
| Stocks and contracts in progress3 | - | - | - | €4,491 | €13,630 | ▲ 204% |
| Stocks30/36 | - | - | - | €4,491 | €13,630 | ▲ 204% |
| Amounts receivable within one year40/41 | €154,777 | €328,776 | €722,573 | €878,741 | €1.3m | ▲ 48.1% |
| Trade receivables40 | - | €308,984 | €714,410 | €878,298 | €1.2m | ▲ 33.9% |
| Other amounts receivable41 | - | €19,793 | €8,163 | €443 | €125,000 | ▲ 28,142% |
| Cash at bank and in hand54/58 | €719,716 | €233,453 | €773,798 | €355,475 | €715,413 | ▲ 101% |
| Deferred charges and accrued income490/1 | - | €257 | €48,877 | €276,372 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €7.4m | €9.6m | €17.4m | €16.2m | €17.3m | ▲ 6.9% |
| Equity10/15 | €308,499 | €395,225 | €410,890 | €501,817 | €888,560 | ▲ 77.1% |
| Contributions10/11 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Capital10 | - | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Issued capital100 | - | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Reserves13 | €6,899 | €11,235 | €25,000 | €25,000 | €25,000 | = |
| Non-distributable reserves130/1 | - | €11,235 | €25,000 | €25,000 | €25,000 | = |
| Legal reserve130 | - | €11,235 | €25,000 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | €51,600 | €133,990 | €135,890 | €226,817 | €613,560 | ▲ 171% |
| Provisions and deferred taxes16 | - | €137,510 | €0 | - | - | - |
| Provisions for liabilities and charges160/5 | - | €137,510 | €0 | - | - | - |
| Major repairs and maintenance162 | - | €137,510 | €0 | - | - | - |
| Amounts payable17/49 | €7.1m | €9.1m | €17.0m | €15.7m | €16.4m | ▲ 4.6% |
| Amounts payable after more than one year17 | €6.1m | €8.3m | €13.8m | €12.3m | €13.0m | ▲ 5.5% |
| Financial debts170/4 | - | €8.3m | €13.8m | €12.3m | €13.0m | ▲ 5.5% |
| Amounts payable within one year42/48 | €825,631 | €837,805 | €2.9m | €3.0m | €2.8m | ▼ 6.9% |
| Current portion of amounts payable after more than one year42 | - | €490,689 | €1.6m | €1.8m | €1.8m | ▲ 0.9% |
| Financial debts43 | - | - | - | €150,000 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €150,000 | €0 | ▼ 100% |
| Other loans439 | - | - | - | - | €0 | - |
| Trade debts44 | €205,658 | €329,746 | €1.3m | €878,823 | €856,763 | ▼ 2.5% |
| Suppliers440/4 | - | €329,746 | €1.3m | €878,823 | €856,763 | ▼ 2.5% |
| Taxes, remuneration and social security45 | - | - | €29,309 | €165,214 | €125,460 | ▼ 24.1% |
| Taxes450/3 | - | - | €29,309 | €132,464 | €60,355 | ▼ 54.4% |
| Remuneration and social security454/9 | - | - | - | €32,750 | €65,106 | ▲ 98.8% |
| Other amounts payable47/48 | - | €17,371 | €17,371 | €9,208 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | €185,153 | €434,315 | €689,302 | ▲ 58.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,756 | €86,726 | €15,665 | €90,927 | €386,744 | ▲ 325% |
| + Depreciation and write-downs630 | €254,997 | €422,860 | €506,365 | €1.2m | €1.3m | ▲ 7.0% |
| Operating cash flow (approximation) | €264,753 | €509,586 | €522,030 | €1.3m | €1.7m | ▲ 29.4% |
| Investment in fixed assets (approximation) | - | -€3.0m | -€7.3m | -€89,553 | -€1.9m | ▼ 2,005% |
| Change in cash | - | -€486,263 | €540,345 | -€418,323 | €359,938 | ▲ 186% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €386,744 ▲325%
Net result €386,744, the highest in the series.
22-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 22 days late
2023
31-12
Financial
Equity above €500,000Eq €501,817 ▲22.1%
6 profitable years in a row build equity to €501,817.
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
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 25 days late
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Weakest financial yearnet €2,736 ▼94.7%
Net result drops to €2,736, the lowest in the series; recovery starts the following year.
03-07
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
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
7 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, Awans · 1 establishment unit since 2017
Ground area
4,223 m²
Building footprint
1,337 m²
Volume, LiDAR
8,107 m³
Parcel 62006B0355/00G000, Wallonia · tallest building 7.8 m, ±2 floors. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
CORETEC SERVICES
since 20172.349.925.364
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62006B0355/00G000 | Wallonia | 4,223 m² | 1 · 1,337 m² | 7.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
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
Owners and holdings
1 owner · 2 holdingsChain of control
- CORETEC ENERGY
- CORETEC Services
Highest known parent: CORETEC ENERGY. The sources do not say who stands above it.
Owners 1
- CORETEC ENERGYparent100%
Holdings 2
-
10%
-
10%
According to the 2023 annual accounts of CORETEC Services and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPublic limited company
Founded26-01-2017
Fiscal year end31-12
Activities, NACEBEL 2025
35110Production of electricity from non-renewable sources
35150Electricity, gas, steam and air conditioning supply
35130Electricity, gas, steam and air conditioning supply
E-invoicing
Reachable via Peppol
Peppol ID
0208:0670423814
Also
9925:BE0670423814
Registered
17-06-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.