CORGA
ActiveSummary
CORGA has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€55,673) and a net result of €15,504. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 12829 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency0=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 3.18 against 1.56 in 2024; short-term debt: 30.1% and cash: 83.4% of total assets), but equity is negative.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
-111.4%
Return on assets
31%
Age of the figures
18 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 12829 sector peers (2025).
NBB · sector comparisonPosition among 12829 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 01-04-2025 was due by 01-11-2025 and was filed on 28-11-2025, 27 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
27 d late
2024
31 d late
2023
13 d early
2022
15 d early
2021
31 d late
2020
26 d late
2019
2 d early
← 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 12 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 01-04-2026 and is due by 01-11-2026. Nothing is late today. Usually files around 28 November (4 of the last 5 filed years within 40 days of that day).
Companies Code · seven monthsPosition in the running window
01-04-2026 close29-09-2026 today01-11-2026 deadline
History
Go further with this company
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€55,673▲ 21.8%
2024 · -€71,177
Total assets
€49,992▲ 47.7%
2024 · €33,837
Net result
€15,504▲ 3.2%
2024 · €15,025
Working capital
€32,802▲ 210%
2024 · €10,595
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 69, Legal and accounting activities, 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
Line20212022202320242025
Operating result€28,013€22,049▼ 21.3%€10,401▼ 52.8%€15,115▲ 45.3%€15,521▲ 2.7%
Net result€27,926within the sector's middle half€22,006within the sector's middle half▼ 21.2%€10,025within the sector's middle half▼ 54.4%€15,025within the sector's middle half▲ 49.9%€15,504within the sector's middle half▲ 3.2%
Equity-€118,233below the sector's middle half▲ 19.1%-€96,227below the sector's middle half▲ 18.6%-€86,202below the sector's middle half▲ 10.4%-€71,177below the sector's middle half▲ 17.4%-€55,673below the sector's middle half▲ 21.8%
Total assets€26,180below the sector's middle half▲ 1,039%€37,412below the sector's middle half▲ 42.9%€34,555below the sector's middle half▼ 7.6%€33,837below the sector's middle half▼ 2.1%€49,992below the sector's middle half▲ 47.7%
Debt€144,412▼ 2.7%€133,639▼ 7.5%€120,757▼ 9.6%€105,014▼ 13.0%€105,665▲ 0.6%
Working capital-€4,663below the sector's middle half▲ 71.1%€6,478below the sector's middle half€5,489below the sector's middle half▼ 15.3%€10,595below the sector's middle half▲ 93.0%€32,802within the sector's middle half▲ 210%
Solvency-451.6%below the sector's middle half-257.2%below the sector's middle half▲ 194.4pp-249.5%below the sector's middle half▲ 7.7pp-210.4%below the sector's middle half▲ 39.1pp-111.4%below the sector's middle half▲ 99.0pp
Current ratio0.81below the sector's middle half1.27within the sector's middle half▲ 0.471.24within the sector's middle half▼ 0.031.56within the sector's middle half▲ 0.323.18within the sector's middle half▲ 1.62
Return on assets (ROA)106.7%above the sector's middle half58.8%above the sector's middle half▼ 47.8pp29.0%within the sector's middle half▼ 29.8pp44.4%above the sector's middle half▲ 15.4pp31.0%within the sector's middle half▼ 13.4pp
above
within
below
the middle half (P25 to P75) of NACE 69, Legal and accounting activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 3% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €49,992
Fixed assets
€2,148 ▼ 49.2%
Current assets
€47,845 ▲ 61.6%
Key figures and ratios
EBITDA
€17,601▲
2024 · €17,195
Cash flow
€17,585▲
2024 · €17,105
Debt to equity
-1.90▼
2024 · -1.48
Interest coverage
1066.73▲
2024 · 190.72
Debt ≤ 1 year
€15,042▼
2024 · €19,014
Debt > 1 year
€74,000▼
2024 · €86,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 3,795 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €222 | €1,835 | €2,037 | €2,080 | €2,080 | = |
| Other operating charges640/8 | - | - | - | €600 | - | - |
| Gross operating margin9900 | €28,234 | €23,884 | €12,438 | €17,795 | €17,601 | ▼ 1.1% |
| Operating profit (loss)9901 | €28,013 | €22,049 | €10,401 | €15,115 | €15,521 | ▲ 2.7% |
| Financial income75/76B | - | - | €0 | €0 | - | - |
| Recurring financial income75 | - | - | €0 | €0 | - | - |
| Financial charges65/66B | - | €43 | €377 | €90 | €17 | ▼ 81.7% |
| Recurring financial charges65 | €87 | €43 | €377 | €90 | €17 | ▼ 81.7% |
| Profit (loss) for the period before taxes9903 | €27,926 | €22,006 | €10,025 | €15,025 | €15,504 | ▲ 3.2% |
| Profit (loss) for the period9904 | €27,926 | €22,006 | €10,025 | €15,025 | €15,504 | ▲ 3.2% |
| Profit (loss) for the period to be appropriated9905 | €27,926 | €22,006 | €10,025 | €15,025 | €15,504 | ▲ 3.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €26,180 | €37,412 | €34,555 | €33,837 | €49,992 | ▲ 47.7% |
| Fixed assets21/28 | €6,430 | €7,295 | €6,309 | €4,228 | €2,148 | ▼ 49.2% |
| Intangible fixed assets21 | €6,430 | €7,295 | €6,309 | €4,228 | €2,148 | ▼ 49.2% |
| Current assets29/58 | €19,749 | €30,117 | €28,246 | €29,609 | €47,845 | ▲ 61.6% |
| Amounts receivable within one year40/41 | €15,094 | €16,100 | €13,234 | €1,395 | €6,175 | ▲ 343% |
| Trade receivables40 | - | €16,100 | €13,019 | €1,162 | €6,175 | ▲ 432% |
| Other amounts receivable41 | - | - | €216 | €234 | - | - |
| Cash at bank and in hand54/58 | €4,656 | €14,017 | €15,011 | €28,214 | €41,670 | ▲ 47.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €26,180 | €37,412 | €34,555 | €33,837 | €49,992 | ▲ 47.7% |
| Equity10/15 | -€118,233 | -€96,227 | -€86,202 | -€71,177 | -€55,673 | ▲ 21.8% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Issued capital100 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Legal reserve130 | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€138,684 | -€116,678 | -€106,653 | -€91,628 | -€76,124 | ▲ 16.9% |
| Amounts payable17/49 | €144,412 | €133,639 | €120,757 | €105,014 | €105,665 | ▲ 0.6% |
| Amounts payable after more than one year17 | €120,000 | €110,000 | €98,000 | €86,000 | €74,000 | ▼ 14.0% |
| Financial debts170/4 | - | €110,000 | €98,000 | €86,000 | €74,000 | ▼ 14.0% |
| Amounts payable within one year42/48 | €24,412 | €23,639 | €22,757 | €19,014 | €15,042 | ▼ 20.9% |
| Trade debts44 | €387 | €1,105 | €757 | €7,014 | €1,115 | ▼ 84.1% |
| Suppliers440/4 | - | €1,105 | €757 | €7,014 | €1,115 | ▼ 84.1% |
| Taxes, remuneration and social security45 | - | €534 | - | - | €1,927 | - |
| Taxes450/3 | - | €534 | - | - | €1,927 | - |
| Other amounts payable47/48 | - | €22,000 | €22,000 | €12,000 | €12,000 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | €16,623 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,926 | €22,006 | €10,025 | €15,025 | €15,504 | ▲ 3.2% |
| + Depreciation and write-downs630 | €222 | €1,835 | €2,037 | €2,080 | €2,080 | = |
| Operating cash flow (approximation) | €28,148 | €23,841 | €12,061 | €17,105 | €17,585 | ▲ 2.8% |
| Investment in fixed assets (approximation) | - | -€2,700 | -€1,050 | €0 | €0 | - |
| Change in cash | - | €9,361 | €995 | €13,202 | €13,456 | ▲ 1.9% |
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
28-11
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
01-04
Financial
Liquidity doublescurrent ratio 3.18
Current ratio from 1.56 to 3.18; short-term debt falls from €19,014 to €15,042.
2024
02-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2023
19-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2021
02-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
01-04
Financial
Back to profitnet €27,926
Net result €27,926 after 2 loss-making years.
2020
27-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
01-04
Financial
Weakest financial yearnet -€54
Net result drops to -€54, the lowest in the series; recovery starts the following year.
2019
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
06-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2017
26-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
23-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 52 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Zaventem
Ground area
7,036 m²
Building footprint
1,631 m²
Volume, LiDAR
11,988 m³
Parcel 23772C0379/00L000, Flanders · tallest building 9.2 m, ±2 floors. Linked by address, not a title deed.
118
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23772C0379/00L000 | Flanders | 7,036 m² | 1 · 1,631 m² | 9.2 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.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 2,265 companies in sector 69209 we hold annual accounts for 1,101. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded01-12-1986
Fiscal year end01-04
Activities, NACEBEL 2025
69209Other tax advisory services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0430256564
Also
9925:BE0430256564
Registered
16-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.