CORMAN CONCEPTS
ActiveCORMAN CONCEPTS has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €98k and a net result of €19k. Equity is growing by ~10.5% per year across the filed fiscal years. Its solvency ranks better than 64% of 2510 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
91
/ 100
Excellent▲ +34 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability96▲+90
Solvency79▲+14
Growth78=
Stability100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity tight (current ratio 1.21 against 0.99 in 2024), and 46.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 15
Relative position
BE, all sectors
reference
Sector 15
higher
← 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 2025Solvency, return and age of the figures
Solvency
53.2%
Return on assets
10.2%
Age of the figures
8 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
33 d early
2023
32 d early
2022
37 d early
2021
27 d early
2020
30 d early
2019
21 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€483k
EBIT margin
4.3%
Net result
€19k▲ 1,811%
2024 · €983
2018: €628
2019: €3k
2020: €12k
2021: €19k
2022: €28
2023: €-2k
2024: €983
2018 → 2025
Working capital
€18k
2024 · €-981
2018: €-10k
2019: €-8k
2020: €15k
2021: €13k
2022: €38k
2023: €-672
2024: €-981
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€80k-€80k=€78k▼ 3.0%€79k▲ 1.3%€98k▲ 23.8%
Operating result€29k-€3k▼ 91.2%€4k▲ 53.5%€5k▲ 34.6%€34k▲ 558%
Net result€19k-€28▼ 99.9%€-2k€983€19k▲ 1,811%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 558% above 2024 and is the highest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €184k
Fixed assets
€79k▼ 9.0%
Current assets
€104k▲ 6.5%
Equity and liabilities €184k
Equity
€98k▲ 23.8%
Debt
€86k▼ 19.0%
The debt ratio falls from 57.4% to 46.8%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€44k▲
2024 · €17k
Cash flow
€29k▲
2024 · €13k
Solvency
53.2%▲
2024 · 42.6%
Current ratio
1.21▲
2024 · 0.99
Quick ratio
0.75▲
2024 · 0.48
Debt / equity
0.88▼
2024 · 1.35
ROE
19.2%▲
2024 · 1.2%
ROA
10.2%▲
2024 · 0.5%
Interest coverage
11.65▲
2024 · 4.09
Debt
€86k▼
2024 · €106k
Debt ≤ 1 year
€86k▼
2024 · €99k
Income taxes
€12k▲
2024 · €-41
Staff costs
€74k▲
2024 · €56k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€185k€184k▼
Fixed assets21/28€87k€79k▼
Tangible fixed assets22/27€49k€41k▼
Plant, machinery and equipment23€2k€905▼
Furniture and vehicles24€34k€30k▼
Other tangible fixed assets26€13k€11k▼
Financial fixed assets28€38k€38k=
Current assets29/58€98k€104k▲
Stocks and contracts in progress3€50k€40k▼
Stocks30/36€50k€40k▼
Amounts receivable within one year40/41€32k€48k▲
Trade receivables40€32k€48k▲
Other amounts receivable41€70€130▲
Cash at bank and in hand54/58€9k€13k▲
Deferred charges and accrued income490/1€7k€3k▼
Equity and liabilities
Total equity and liabilities10/49€185k€184k▼
Equity10/15€79k€98k▲
Contributions10/11€6k€6k=
Reserves13€42k€59k▲
Distributable reserves133€42k€59k▲
Profit (loss) carried forward14€31k€32k▲
Amounts payable17/49€106k€86k▼
Amounts payable after more than one year17€7k-
Financial debts170/4€7k-
Amounts payable within one year42/48€99k€86k▼
Current portion of amounts payable after more than one year42€18k€12k▼
Financial debts43€8k€10k▲
Credit institutions430/8€8k€10k▲
Trade debts44€37k€31k▼
Suppliers440/4€37k€31k▼
Advances received on contracts in progress46€4k€3k▼
Taxes, remuneration and social security45€4k€16k▲
Taxes450/3€3k€16k▲
Remuneration and social security454/9€575€463▼
Other amounts payable47/48€28k€14k▼
Income statement
Code20242025
Remuneration, social security and pensions62€56k€74k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€10k▼
Other operating charges640/8€3k€2k▼
Non-recurring operating charges66A-€242
Gross operating margin9900€76k€121k▲
Operating profit (loss)9901€5k€34k▲
Financial income75/76B€1€32▲
Recurring financial income75€1€32▲
Financial charges65/66B€4k€4k▼
Recurring financial charges65€4k€4k▼
Profit (loss) for the period before taxes9903€941€30k▲
Income taxes67/77€-41€12k▲
Profit (loss) for the period9904€983€19k▲
Profit (loss) for the period to be appropriated9905€983€19k▲
Appropriation of the result
Profit (loss) to be appropriated9906€31k€49k▲
Profit (loss) brought forward from the previous period14P€30k€31k▲
Transfer to equity691/2-€18k
To other reserves6921-€18k
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
28-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €983
Net result €983 after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-2k ▼8632%
Net result drops to €-2k, the lowest in the series; recovery starts the following year.
24-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
04-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €19k ▲60.9%
Net result €19k, the highest in the series.
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
10-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 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, Momignies · 2 establishment units since 1999
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Route de Macquenoise (SGS) 556596 MomigniesGround area
1.1 ha
Building footprint
2,215 m²
2 parcels, Wallonia. Linked by address, not a title deed.
2 establishment units
L'ARTISAN SELLIER OLIVIER CORMAN
since 19992.103.149.743
TOP CHASSIS STORES
since 20162.252.492.923
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93039B0096/00G003 | Wallonia | 7,611 m² | 1 · 1,938 m² | - |
| 56071B0102/00P000 | Wallonia | 2,997 m² | 1 · 277 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
ATELIER SELLERIE GARNISSAGE
BE 0720.615.374
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M.C. CHAUSSARD
BE 0460.720.801
Elsene · Eq €202k
BROCAL
BE 0401.898.417
Sint-Jans-Molenbeek · Eq €203k
Modern Bags
BE 0725.759.443
Houthalen-Helchteren · Eq €47k
Petit Louis
BE 0786.931.801
Zwalm · Eq €46k
Of 245 companies in sector 15120 we hold annual accounts for 25. 15 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-07-1999
Fiscal year end31-12
Activities, NACEBEL
15120Manufacture of leather and related products
19200
95240Repair and maintenance of furniture and upholstery
43320Joinery installation
45421
47789Other retail sale of new goods
52498
Sources
Crossroads Bank for EnterprisesNational Bank · 26 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.