CORIFA
InactiveCORIFA was declared bankrupt on 17-01-2023 (Tribunal de l’entreprise du Hainaut, division Tournai); the bankruptcy was closed for insufficient assets by judgment of 31-10-2023, published in the Belgian State Gazette on 01-12-2023.
Summary
Inactive; last annual accounts for fiscal year 2019.
Signals
Three signals. The signal on the left, the evidence on the right.
○neutral
neutral · No filing for years
The last filed financial year closed on 31-12-2019. Since then, 6 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 6 filingsPosition against the passed deadline
31-12-2020 close31-07-2021 deadline29-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2019 was due by 31-07-2020 and was filed on 14-10-2020, 75 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 · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
not filed
2020
not filed
2019
75 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its 2019 accounts 75 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2019, full schema
Turnover
€39,798▼ 49.7%
2018 · €79,088
EBIT margin
19.8%▲ 18.1pp
2018 · 1.7%
Net result
€7,898▲ 568%
2018 · €1,183
Working capital
€13,421▲ 620%
2018 · €1,863
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
Line20182019
Turnover€79,088-€39,798▼ 49.7%
Operating result€1,352-€7,898▲ 484%
Net result€1,183-€7,898▲ 568%
EBIT margin1.7%-19.8%▲ 18.1pp
Equity€8,969-€16,867▲ 88.1%
Total assets€17,115-€17,713▲ 3.5%
Debt€8,146-€846▼ 89.6%
Working capital€1,863-€13,421▲ 620%
Result per fiscal year
Operating resultNet result
The operating result rises in 2019; 2019 is 484% above 2018.
Balance-sheet composition
2019 in colour, 2018 as the grey bar beneath
Assets €17,713
Fixed assets
€3,446 ▼ 51.5%
Current assets
€14,267 ▲ 42.5%
Equity and liabilities €17,713
Equity
€16,867 ▲ 88.1%
Debt
€846 ▼ 89.6%
Debt's share of the balance-sheet total falls from 47.6% to 4.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€11,558▲
2018 · €5,012
Cash flow
€11,558▲
2018 · €4,843
Current ratio
16.87▲
2018 · 1.23
Quick ratio
14.13▲
2018 · 1.23
ROE
46.8%▲
2018 · 13.2%
ROA
44.6%▲
2018 · 6.9%
Debt ≤ 1 year
€846▼
2018 · €8,146
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Turnover70 | €79,088 | €39,798 | ▼ 49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,660 | €3,660 | = |
| Gross operating margin9900 | €26,357 | €25,465 | ▼ 3.4% |
| Operating profit (loss)9901 | €1,352 | €7,898 | ▲ 484% |
| Recurring financial income75 | €1 | - | - |
| Recurring financial charges65 | €169 | - | - |
| Profit (loss) for the period before taxes9903 | €1,183 | €7,898 | ▲ 568% |
| Profit (loss) for the period9904 | €1,183 | €7,898 | ▲ 568% |
| Profit (loss) for the period to be appropriated9905 | €1,183 | €7,898 | ▲ 568% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €17,115 | €17,713 | ▲ 3.5% |
| Fixed assets21/28 | €7,106 | €3,446 | ▼ 51.5% |
| Tangible fixed assets22/27 | €7,081 | €3,421 | ▼ 51.7% |
| Financial fixed assets28 | €25 | €25 | = |
| Current assets29/58 | €10,009 | €14,267 | ▲ 42.5% |
| Stocks and contracts in progress3 | - | €2,320 | - |
| Amounts receivable within one year40/41 | €9,878 | €5,500 | ▼ 44.3% |
| Cash at bank and in hand54/58 | €131 | €6,447 | ▲ 4,832% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €17,115 | €17,713 | ▲ 3.5% |
| Equity10/15 | €8,969 | €16,867 | ▲ 88.1% |
| Contributions10/11 | €18,600 | €18,600 | = |
| Reserves13 | €12,288 | €12,288 | = |
| Profit (loss) carried forward14 | -€21,919 | -€14,021 | ▲ 36.0% |
| Amounts payable17/49 | €8,146 | €846 | ▼ 89.6% |
| Amounts payable within one year42/48 | €8,146 | €846 | ▼ 89.6% |
| Trade debts44 | €4,300 | €846 | ▼ 80.3% |
| Line | 2018 | 2019 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €1,183 | €7,898 | ▲ 568% |
| + Depreciation and write-downs630 | €3,660 | €3,660 | = |
| Operating cash flow (approximation) | €4,843 | €11,558 | ▲ 139% |
| Investment in fixed assets (approximation) | - | €0 | - |
| Change in cash | - | €6,316 | - |
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
2023
01-12
Bankruptcy
Bankruptcy closure (insufficient assets)
Tribunal de l’entreprise du Hainaut, division Tournai · event 31-10-2023
23-02
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Tournai · event 17-01-2023
2022
03-06
Bankruptcy
Judicial dissolution and immediate closure
Tribunal de l’entreprise du Hainaut, division Tournai · event 31-05-2022
2020
14-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 75 days late
2019
31-12
Financial
Liquidity times 14current ratio 16.87
Current ratio from 1.23 to 16.87; short-term debt falls from €8,146 to €846.
27-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 58 days late
2018
21-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 days late
2017
19-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 19 days late
2016
03-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 3 days late
2015
31-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 31 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | HENRY VAN MALLEGHEM ROUTE
D’HACQUEGNIES 3, 7911 01 FRASNES-LEZ-BUISSENAL-
.
Date provisoire de cessation de paiement : 17/01/2023 |
17-01-2023 → 31-10-2023 |