COREX
ActiveThe file of COREX contains 2 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The annual accounts of COREX for fiscal year 2025 show a net loss of 66% of the equity at the start of that year. The computed 12-month bankruptcy probability is 19.7% (high). The 2025 annual accounts show equity of €17,650 and a net result of -€34,596. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 30% of 3728 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability17▼-6
Solvency35▼-20
Growth52▼-26
Track record60
Bankruptcy probability, 12 months
19.7%
High
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.65 against 1.07 in 2024; short-term debt: 49% and cash: 3.1% of total assets), but 90.1% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← 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 2025Solvency, return and age of the figures
Solvency
9.9%
Return on assets
-19.4%
Age of the figures
18 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
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
10 d late
2022
27 d late
2021
9 d early
2020
1 d early
2019
2 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 4 days after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close26-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€17,650▼ 66.2%
2024 · €52,246
Total assets
€178,716▲ 2.7%
2024 · €174,033
Net result
-€34,596
2024 · €6,537
Working capital
€57,069▲ 570%
2024 · €8,518
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€105,719-€68,788▲ 34.9%€11,786-€32,910-€10,431▲ 68.3%
Net result-€109,568€174,797€16,676▼ 90.5%€6,537▼ 60.8%-€34,596
Equity-€145,764▼ 303%€29,033€45,709▲ 57.4%€52,246▲ 14.3%€17,650▼ 66.2%
Total assets€232,526▼ 19.0%€365,089▲ 57.0%€153,897▼ 57.8%€174,033▲ 13.1%€178,716▲ 2.7%
Debt€378,289▲ 17.1%€336,056▼ 11.2%€108,188▼ 67.8%€121,787▲ 12.6%€161,066▲ 32.3%
Working capital-€254,974▼ 46.4%-€62,334▲ 75.6%-€5,584▲ 91.0%€8,518€57,069▲ 570%
Staff (FTE)15.8▼ 68.0%16.3▲ 3.2%24.3▲ 49.1%27.8▲ 14.4%9.6▼ 65.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €10,431 in 2025 against €32,910 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €178,716
Fixed assets
€34,029 ▼ 22.2%
Current assets
€144,686 ▲ 11.0%
Equity and liabilities €178,716
Equity
€17,650 ▼ 66.2%
Debt
€161,066 ▲ 32.3%
Debt's share of the balance-sheet total rises from 70.0% to 90.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€4,058▲
2024 · -€6,213
Cash flow
-€20,107▼
2024 · €33,235
Current ratio
1.65▲
2024 · 1.07
Quick ratio
1.57▲
2024 · 1.03
Debt to equity
9.13▲
2024 · 2.33
ROE
-196.0%▼
2024 · 12.5%
ROA
-19.4%▼
2024 · 3.8%
Interest coverage
1.98▲
2024 · -2.15
Debt ≤ 1 year
€87,617▼
2024 · €121,787
Debt > 1 year
€73,449
Income taxes
€22,187
Staff costs
€299,906▼
2024 · €397,403
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €136,612 | €307,303 | €397,403 | €299,906 | ▼ 24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €58,462 | €44,212 | €38,786 | €26,697 | €14,489 | ▼ 45.7% |
| Other operating charges640/8 | - | €8,611 | €8,496 | €4,356 | €5,619 | ▲ 29.0% |
| Non-recurring operating charges66A | - | - | - | - | €269 | - |
| Gross operating margin9900 | €65,963 | €120,648 | €366,372 | €395,545 | €309,851 | ▼ 21.7% |
| Operating profit (loss)9901 | -€105,719 | -€68,788 | €11,786 | -€32,910 | -€10,431 | ▲ 68.3% |
| Financial income75/76B | - | €253,643 | €9,079 | €42,342 | €67 | ▼ 99.8% |
| Recurring financial income75 | €441 | €2,518 | €4,180 | €92 | €67 | ▼ 27.5% |
| Non-recurring financial income76B | - | €251,125 | €4,899 | €42,250 | €0 | ▼ 100% |
| Financial charges65/66B | - | €9,028 | €4,189 | €2,894 | €2,045 | ▼ 29.3% |
| Recurring financial charges65 | €3,819 | €9,028 | €4,189 | €2,894 | €2,045 | ▼ 29.3% |
| Profit (loss) for the period before taxes9903 | -€109,096 | €175,827 | €16,676 | €6,537 | -€12,409 | ▼ 290% |
| Income taxes67/77 | €472 | €1,030 | - | - | €22,187 | - |
| Profit (loss) for the period9904 | -€109,568 | €174,797 | €16,676 | €6,537 | -€34,596 | ▼ 629% |
| Transfer to tax-exempt reserves689 | - | €251,125 | €4,899 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | -€109,568 | -€76,329 | €11,777 | €6,537 | -€34,596 | ▼ 629% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €232,526 | €365,089 | €153,897 | €174,033 | €178,716 | ▲ 2.7% |
| Fixed assets21/28 | €109,210 | €91,367 | €51,770 | €43,727 | €34,029 | ▼ 22.2% |
| Intangible fixed assets21 | €42,449 | €39,553 | €32,188 | €16,838 | €7,410 | ▼ 56.0% |
| Tangible fixed assets22/27 | €63,681 | €48,734 | €16,503 | €23,809 | €23,540 | ▼ 1.1% |
| Land and buildings22 | - | €8,804 | €7,998 | €14,800 | €12,939 | ▼ 12.6% |
| Plant, machinery and equipment23 | - | €25,106 | €7,947 | €5,298 | €7,983 | ▲ 50.7% |
| Furniture and vehicles24 | - | €14,824 | €558 | €3,711 | €2,618 | ▼ 29.5% |
| Financial fixed assets28 | €3,080 | €3,080 | €3,080 | €3,080 | €3,080 | = |
| Current assets29/58 | €123,316 | €273,722 | €102,127 | €130,305 | €144,686 | ▲ 11.0% |
| Stocks and contracts in progress3 | €12,213 | €6,059 | €7,271 | €5,453 | €7,135 | ▲ 30.8% |
| Stocks30/36 | - | €6,059 | €7,271 | €5,453 | €7,135 | ▲ 30.8% |
| Amounts receivable within one year40/41 | €102,314 | €262,595 | €88,768 | €101,506 | €128,598 | ▲ 26.7% |
| Trade receivables40 | - | €226,360 | €83,616 | €98,709 | €125,190 | ▲ 26.8% |
| Other amounts receivable41 | - | €36,235 | €5,152 | €2,797 | €3,407 | ▲ 21.8% |
| Cash at bank and in hand54/58 | €7,819 | €2,035 | €5,248 | €19,472 | €5,620 | ▼ 71.1% |
| Deferred charges and accrued income490/1 | - | €3,033 | €840 | €3,874 | €3,333 | ▼ 13.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €232,526 | €365,089 | €153,897 | €174,033 | €178,716 | ▲ 2.7% |
| Equity10/15 | -€145,764 | €29,033 | €45,709 | €52,246 | €17,650 | ▼ 66.2% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | - | €251,125 | €256,024 | €256,024 | €0 | ▼ 100% |
| Tax-exempt reserves132 | - | €251,125 | €256,024 | €256,024 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€165,764 | -€242,092 | -€230,316 | -€223,779 | -€2,350 | ▲ 98.9% |
| Amounts payable17/49 | €378,289 | €336,056 | €108,188 | €121,787 | €161,066 | ▲ 32.3% |
| Amounts payable after more than one year17 | - | - | - | - | €73,449 | - |
| Other amounts payable178/9 | - | - | - | - | €73,449 | - |
| Amounts payable within one year42/48 | €378,289 | €336,056 | €107,710 | €121,787 | €87,617 | ▼ 28.1% |
| Financial debts43 | - | - | - | - | €27 | - |
| Credit institutions430/8 | - | - | - | - | €27 | - |
| Trade debts44 | €170,853 | €219,110 | €39,111 | €38,952 | €41,409 | ▲ 6.3% |
| Suppliers440/4 | - | €219,110 | €39,111 | €38,952 | €41,409 | ▲ 6.3% |
| Advances received on contracts in progress46 | - | €53,180 | €8,154 | €25,299 | €24,698 | ▼ 2.4% |
| Taxes, remuneration and social security45 | - | €58,365 | €28,741 | €47,338 | €21,483 | ▼ 54.6% |
| Taxes450/3 | - | €22,032 | €13,207 | €12,899 | €510 | ▼ 96.0% |
| Remuneration and social security454/9 | - | €36,333 | €15,534 | €34,439 | €20,973 | ▼ 39.1% |
| Other amounts payable47/48 | - | €5,401 | €31,704 | €10,198 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | €478 | €0 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€109,568 | €174,797 | €16,676 | €6,537 | -€34,596 | ▼ 629% |
| + Depreciation and write-downs630 | €58,462 | €44,212 | €38,786 | €26,697 | €14,489 | ▼ 45.7% |
| Operating cash flow (approximation) | -€51,107 | €219,008 | €55,462 | €33,235 | -€20,107 | ▼ 161% |
| Investment in fixed assets (approximation) | - | -€26,368 | €811 | -€18,655 | -€4,791 | ▲ 74.3% |
| Change in cash | - | -€5,784 | €3,212 | €14,224 | -€13,852 | ▼ 197% |
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
Next filing, fiscal year 2026, expected by
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
10-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 10 days late
2022
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 27 days late
28-02
Financial
Back to profitnet €174,797
Net result €174,797 after one loss-making year.
18-02
Judicial reorganisation
Plan homologation
Ondernemingsrechtbank Gent · event 14-02-2022
2021
17-11
Judicial reorganisation
Opening
Ondernemingsrechtbank Gent · collective agreement · event 10-11-2021
21-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
28-02
Financial
Weakest financial yearnet -€109,568
Net result drops to -€109,568, the lowest in the series; recovery starts the following year.
2020
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
29-02
Financial
Back to profitnet €66,868
Net result €66,868 after one loss-making year.
2019
02-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 2 days late
Show earlier events
2018
07-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2016
08-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Pittem · 1 establishment unit since 2011
Ground area
2,278 m²
Building footprint
695 m²
Volume, LiDAR
3,072 m³
Parcel 37011A0366/00M000, Flanders · tallest building 9.5 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Villa Kruiscalsyde
since 20112.208.160.656
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37011A0366/00M000 | Flanders | 2,278 m² | 1 · 695 m² | 9.4 m · 1 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.
Recognitions · licences · registrations
Food safety, FASFC
1 sitePittem2.208.160.656
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Of 20,501 companies in sector 56111 we hold annual accounts for 11,453. 8,539 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded30-06-2011
Fiscal year end31-03
Activities, NACEBEL 2025
56111Full-service restaurants
55100Hotels and similar accommodation
56210Event catering
Scores and ratios are computed by Checked and are not a credit decision.