Equity
-€109,353
Debts exceed assets in financial year 2026.
COREX
Lifetime
14 annual accounts with figures on one time axispeak €1.6m (2014)
€250,380▼ 19.2%
lowest -€127,003 (2026)
-€127,003▼ €92,407
peak €52,246 (2024)
-€109,353▼ €127,003
€164,374▲ 2.1%
peak 50 FTE (2019)
2.4 FTE▼ 75.0%
Board2 names since 2022
1 directorFLEGO
Owners
consolidatesFLEGO
Documentsfilings and deeds
29-10-20262 days before the deadline
2026abbreviated format
Gross margin from €309,851 to €250,380Loss of €127,003Staff from 9.6 FTE to 2.4 FTEEquity from €17,650 to -€109,353Cash from €5,620 to €12,277
Key points
from the 2026 annual accountsResult
-€127,003 ▼ 267%
The result fell in 2026 from -€34,596 to -€127,003.
Debts
€164,374 299% of the balance sheet
Suppliers 29%Taxes and wages 9%Other 62%
Of this, €161,328 falls due within a year.
Staff
2.4 FTE from 50 in 2019
Between 2019 and 2026, 95% of the full-time equivalents disappeared.
Liquidity
0.20 was 1.65 in 2025
Short-term debts rose from €87,617 to €161,328.
Position in the sector
-198.7%
Lower solvency than 95% of companies in food and beverage service. Sector median 33.9% · 163 companies.
Checked score
13
Critical
Financially stronger than 10% of micro companies in food and beverage service (NACE 56)
Probability in this band: over 15.0%
Bankruptcy probability within 12 months
15.9% High
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.8% across 23,788 companies (NACE 56, micro).
About 1 in 6 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 10.0%
01-2025: 10.0%● unchanged vs 12-2024
02-2025: 10.0%● unchanged vs 01-2025
03-2025: 2.6%▼ -7.4 percentage points vs 02-2025lowest value
04-2025: 2.6%● unchanged vs 03-2025lowest value
05-2025: 2.6%● unchanged vs 04-2025lowest value
06-2025: 2.6%● unchanged vs 05-2025lowest value
07-2025: 2.8%▲ +0.2 percentage points vs 06-2025
08-2025: 2.8%● unchanged vs 07-2025
09-2025: 2.8%● unchanged vs 08-2025
10-2025: 3.9%▲ +1.1 percentage points vs 09-2025
11-2025: 6.2%▲ +2.3 percentage points vs 10-2025
12-2025: 12.0%▲ +5.8 percentage points vs 11-2025
01-2026: 12.0%● unchanged vs 12-2025
02-2026: 12.0%● unchanged vs 01-2026
03-2026: 12.0%● unchanged vs 02-2026
04-2026: 12.0%● unchanged vs 03-2026
05-2026: 12.0%● unchanged vs 04-2026
06-2026: 12.0%● unchanged vs 05-2026
07-2026: 12.3%▲ +0.3 percentage points vs 06-2026
08-2026: 12.0%▼ -0.3 percentage points vs 07-2026
09-2026: 11.8%▼ -0.2 percentage points vs 08-2026
10-2026: 15.9%▲ +4.1 percentage points vs 09-2026highest value
11-2026: 15.9%● unchanged vs 10-2026highest value
Financial strengthWeak
Score breakdown
raises risk
Judicial reorganisation on record (2 publications, latest 18-02-2022)
Negative equity -€109,353
Loss of €127,003, the second in a row (financial year 2026)
Sector: Food and beverage service activities (NACE 56)
Calculation
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 56, micro). It does better than 9% of them on solvency, 23% on liquidity, 8% on profitability and 1% on growth.
The bankruptcy probability was computed on 09-11-2026 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 31-03-2026.
Of the companies with a bankruptcy probability in the high class on 30-06-2025, 14.6% 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).
Comparable companies, two years later
In July 2024, 6,907 companies had the same profile as COREX has now. Each dot stands for 18 companies, two years later.
85.4%
were still trading
8.1%
stopped another way
5.8%
went bankrupt
Another 0.7% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of COREX itself is higher: 15.9% within 12 months. It rests on far more data about COREX than the profile alone.
Test of the method
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 6,907 companies, not a prediction for COREX. 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.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.2 (1.65 in 2025), below 1. Short-term debt is 293.2% and cash 22.3% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
raises riskneutral
raises risk · Negative equity
The 2026 annual accounts show negative equity and a net loss.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year -€109,353
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 29-10-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
2 days early
2025
on the day
2024
on the day
2023
10 days late
2022
27 days late
2021
9 days early
2020
1 day early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 4 days after the deadline. In the sector (NACE 56), the median for financial year 2024 was 7 days after the deadline, and 53% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. The company usually files around 31 October (3 of the last 3 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-03-2027 year end31-10-2027 deadline
Board and ownership
- FLEGO 100%score 65equity €3.0m (2025) · 2025 annual accounts of FLEGO
- Flego bv consolidatesannual accounts 31-03-2026
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0837454052
New director
FLEGO appointed, Alexis Maes resigned · Permanent representative: Alexis Maes · “Het uitvoeren van alle handelingen die rechtstreeks of onrechtstreeks te maken hebben met uitbating van een…” (deed in Dutch) · General meeting of 28-12-2023 · Gazette deed
Plan homologation
Enterprise Court of Ghent · judgment of 14-02-2022 · Judicial reorganisation
Judicial reorganisation opened
Enterprise Court of Ghent · collective agreement · judgment of 10-11-2021 · Judicial reorganisation
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| COREX Pittem | €55,021 | €250,380 | -198.7% | 2.4 |
| Double U Invest Kruisem | €59,496 | €205,469 | 31.3% | 2.7 |
| WITTROCK - BRAUNE Liège | €52,286 | €149,841 | 42.2% | 2.6 |
| MIRI Soignies | €47,056 | €130,656 | -78.0% | 3.8 |
| Kohli Mortsel | €89,366 | €121,969 | -113.1% | 2.2 |
| VAN DER CRUYSEN-HICQUET Lede | €82,183 | €121,739 | 14.0% | 2.7 |
| DPRS Antwerp | €52,508 | €202,365 | 16.7% | 5.1 |
These companies have the same main activity as COREX: full-service restaurants (NACE 56111). They are comparable in size and age: total assets between €47,100 and €89,400, founded between 2003 and 2015.
Official details
Source: KBO- Status
- Active since 30-06-2011Normal situation
- Activity
- Full-service restaurantsNACE 56111and 2 others
- Joint committee
- 302Hotels and catering · annual accounts 31-03-2026
- Establishment unit
- 2.208.160.6568740 Pittem, since 20-10-2011
- Financial year end
- 31 March
- Peppol
- Reachable since 30-09-2025
Annual accounts to 31-03-2026
- ≈ €590,000estimated
- €55,021▼ 69.2%
- Employeeson 31-03-2026
- 2▼ 50.0%
- Filing
- Filed on 29-10-2026, 2 days before the end of the filing period
Insights on COREX
COREX files the abbreviated format. That format states no turnover. The gross margin fell from €1.1m in 2012 to €250,380 in 2026.
FLEGO holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about COREX
- What is the company number of COREX?
- The company number of COREX is 0837.454.052. The VAT number is the same number with BE in front: BE 0837.454.052.
- Where is COREX based?
- The registered office is at Brugsesteenweg 143, 8740 Pittem.Company details
- What does COREX do?
- According to the KBO register, the main activity is full-service restaurants (NACE 56111).
- What is the legal form of COREX?
- COREX is a private limited company (BV).
- When was COREX founded?
- COREX was founded on 30-06-2011.
- Is COREX still active?
- Yes, COREX is an active enterprise in the KBO register.
- How many employees does COREX have?
- COREX had an average of 2.4 full-time equivalents in financial year 2026, according to the filed annual accounts.Financials
- Which joint committee does COREX fall under?
- In its 31-03-2026 annual accounts, COREX states joint committee 302 (Hotels and catering).
- What is the turnover of COREX?
- The turnover in financial year 2026 is ≈ €590,000. This figure is estimated from the gross margin of €250,380 and 41 comparable companies (NACE 56111). It probably lies between €550,000 and €820,000.
- Is COREX profitable?
- In financial year 2026, COREX made a loss of €127,003.
- Where can I find the annual accounts of COREX?
- COREX filed 14 annual accounts with the National Bank of Belgium, the latest for financial year 2026.
- When are the next annual accounts of COREX due?
- COREX must file the annual accounts for financial year 2027 by 31-10-2027.Timeline
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