CORNET SEATING SYSTEMS
ActiveSummary
CORNET SEATING SYSTEMS has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €362,957 and a net result of €7,006. Equity is growing by ~25.2% per year across the filed fiscal years. Its solvency ranks better than 67% of 1223 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability58▼-28
Solvency86▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23,000 at 30 days acceptable
Liquidity ample (current ratio 1.92 against 1.76 in 2023; short-term debt: 34.6% and cash: 3.7% of total assets), and 39.4% of the assets are financed with debt.
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Signals
Four 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 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 19-06-2025, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
42 d early
2023
40 d early
2022
38 d early
2021
40 d early
2020
36 d early
2019
35 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 39 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
€362,957▲ 2.0%
2023 · €355,951
Total assets
€598,527▼ 2.5%
2023 · €614,057
Net result
€7,006▼ 91.7%
2023 · €84,616
Working capital
€189,932▲ 10.3%
2023 · €172,215
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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
Line20202021202220232024
Operating result€63,698€82,135▲ 28.9%€104,832▲ 27.6%€116,513▲ 11.1%€8,800▼ 92.4%
Net result€54,708within the sector's middle half€78,741within the sector's middle half▲ 43.9%€76,168within the sector's middle half▼ 3.3%€84,616within the sector's middle half▲ 11.1%€7,006within the sector's middle half▼ 91.7%
Equity€166,426below the sector's middle half▲ 49.0%€195,167below the sector's middle half▲ 17.3%€271,336within the sector's middle half▲ 39.0%€355,951within the sector's middle half▲ 31.2%€362,957within the sector's middle half▲ 2.0%
Total assets€606,602below the sector's middle half▲ 7.3%€489,304below the sector's middle half▼ 19.3%€623,505below the sector's middle half▲ 27.4%€614,057below the sector's middle half▼ 1.5%€598,527below the sector's middle half▼ 2.5%
Debt€440,176▼ 3.0%€294,136▼ 33.2%€352,170▲ 19.7%€258,106▼ 26.7%€235,570▼ 8.7%
Working capital€97,973within the sector's middle half-€6,527below the sector's middle half€71,133below the sector's middle half€172,215within the sector's middle half▲ 142%€189,932within the sector's middle half▲ 10.3%
Solvency27.4%within the sector's middle half▲ 7.7pp39.9%within the sector's middle half▲ 12.5pp43.5%within the sector's middle half▲ 3.6pp58.0%within the sector's middle half▲ 14.4pp60.6%within the sector's middle half▲ 2.7pp
Current ratio1.34within the sector's middle half▲ 0.380.97below the sector's middle half▼ 0.361.23within the sector's middle half▲ 0.251.76within the sector's middle half▲ 0.541.92within the sector's middle half▲ 0.16
Return on assets (ROA)9.0%within the sector's middle half▲ 13.0pp16.1%above the sector's middle half▲ 7.1pp12.2%within the sector's middle half▼ 3.9pp13.8%above the sector's middle half▲ 1.6pp1.2%within the sector's middle half▼ 12.6pp
Staff (FTE)2.1below the sector's middle half▼ 54.3%2.1below the sector's middle half=2.4below the sector's middle half▲ 14.3%3.3within the sector's middle half▲ 37.5%3.7within the sector's middle half▲ 12.1%
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 92% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €598,527
Fixed assets
€201,575 ▼ 6.7%
Current assets
€396,953 ▼ 0.3%
Equity and liabilities €598,527
Equity
€362,957 ▲ 2.0%
Debt
€235,570 ▼ 8.7%
Debt's share of the balance-sheet total falls from 42.0% to 39.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€33,135▼
2023 · €143,916
Cash flow
€31,341▼
2023 · €112,019
Quick ratio
1.69▲
2023 · 1.53
Debt to equity
0.65▼
2023 · 0.73
ROE
1.9%▼
2023 · 23.8%
Interest coverage
4.58▼
2023 · 20.93
Debt ≤ 1 year
€207,021▼
2023 · €225,886
Debt > 1 year
€21,214▼
2023 · €29,184
Income taxes
€3,030▼
2023 · €29,476
Staff costs
€167,151▼
2023 · €178,443
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 17,027 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €82,156 | €110,954 | €178,443 | €167,151 | ▼ 6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,941 | €22,361 | €31,079 | €27,403 | €24,335 | ▼ 11.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€3,280 | - | - |
| Other operating charges640/8 | - | €11,586 | €11,786 | €17,913 | €15,161 | ▼ 15.4% |
| Gross operating margin9900 | €168,020 | €198,238 | €258,650 | €336,992 | €215,447 | ▼ 36.1% |
| Operating profit (loss)9901 | €63,698 | €82,135 | €104,832 | €116,513 | €8,800 | ▼ 92.4% |
| Financial income75/76B | - | €3,481 | €3,002 | €4,455 | €8,473 | ▲ 90.2% |
| Recurring financial income75 | €1,389 | €3,481 | €3,002 | €4,455 | €8,473 | ▲ 90.2% |
| Financial charges65/66B | - | €6,212 | €5,659 | €6,877 | €7,237 | ▲ 5.2% |
| Recurring financial charges65 | €6,410 | €6,212 | €5,659 | €6,877 | €7,237 | ▲ 5.2% |
| Profit (loss) for the period before taxes9903 | €58,677 | €79,404 | €102,175 | €114,091 | €10,036 | ▼ 91.2% |
| Income taxes67/77 | €3,969 | €663 | €26,007 | €29,476 | €3,030 | ▼ 89.7% |
| Profit (loss) for the period9904 | €54,708 | €78,741 | €76,168 | €84,616 | €7,006 | ▼ 91.7% |
| Profit (loss) for the period to be appropriated9905 | €54,708 | €78,741 | €76,168 | €84,616 | €7,006 | ▼ 91.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €606,602 | €489,304 | €623,505 | €614,057 | €598,527 | ▼ 2.5% |
| Fixed assets21/28 | €216,768 | €253,797 | €239,344 | €215,956 | €201,575 | ▼ 6.7% |
| Intangible fixed assets21 | €6,808 | €3,404 | €5,151 | €3,901 | €2,651 | ▼ 32.0% |
| Tangible fixed assets22/27 | €206,084 | €249,566 | €225,367 | €211,229 | €198,098 | ▼ 6.2% |
| Land and buildings22 | - | €203,544 | €190,123 | €181,413 | €178,084 | ▼ 1.8% |
| Plant, machinery and equipment23 | - | €39,287 | €31,179 | €27,367 | €18,759 | ▼ 31.5% |
| Furniture and vehicles24 | - | - | €551 | €2,156 | €1,254 | ▼ 41.8% |
| Other tangible fixed assets26 | - | €6,735 | €3,514 | €294 | - | - |
| Financial fixed assets28 | €3,876 | €826 | €8,826 | €826 | €826 | = |
| Current assets29/58 | €389,834 | €235,507 | €384,161 | €398,101 | €396,953 | ▼ 0.3% |
| Stocks and contracts in progress3 | €56,144 | €56,062 | €60,783 | €52,312 | €47,665 | ▼ 8.9% |
| Stocks30/36 | - | €56,062 | €60,381 | €50,075 | €45,341 | ▼ 9.5% |
| Contracts in progress37 | - | - | €402 | €2,237 | €2,324 | ▲ 3.9% |
| Amounts receivable within one year40/41 | €110,196 | €103,251 | €252,421 | €277,952 | €250,323 | ▼ 9.9% |
| Trade receivables40 | - | €45,954 | €134,580 | €126,082 | €92,358 | ▼ 26.7% |
| Other amounts receivable41 | - | €57,296 | €117,841 | €151,870 | €157,965 | ▲ 4.0% |
| Cash at bank and in hand54/58 | €73,507 | €48,420 | €42,977 | €18,801 | €21,938 | ▲ 16.7% |
| Deferred charges and accrued income490/1 | - | €27,774 | €27,980 | €49,036 | €77,027 | ▲ 57.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €606,602 | €489,304 | €623,505 | €614,057 | €598,527 | ▼ 2.5% |
| Equity10/15 | €166,426 | €195,167 | €271,336 | €355,951 | €362,957 | ▲ 2.0% |
| Contributions10/11 | - | €45,000 | €45,000 | €45,000 | €45,000 | = |
| Reserves13 | €125,543 | €125,543 | €125,543 | €310,951 | €317,957 | ▲ 2.3% |
| Non-distributable reserves130/1 | - | €4,500 | €4,500 | - | - | - |
| Reserves not available under the articles1311 | - | €4,500 | €4,500 | - | - | - |
| Tax-exempt reserves132 | - | €75,313 | €75,313 | €75,313 | €75,313 | = |
| Distributable reserves133 | - | €45,730 | €45,730 | €235,638 | €242,644 | ▲ 3.0% |
| Profit (loss) carried forward14 | -€4,117 | €24,624 | €100,792 | - | - | - |
| Amounts payable17/49 | €440,176 | €294,136 | €352,170 | €258,106 | €235,570 | ▼ 8.7% |
| Amounts payable after more than one year17 | €52,318 | €44,734 | €37,024 | €29,184 | €21,214 | ▼ 27.3% |
| Financial debts170/4 | - | €44,734 | €37,024 | €29,184 | €21,214 | ▼ 27.3% |
| Amounts payable within one year42/48 | €291,861 | €242,035 | €313,028 | €225,886 | €207,021 | ▼ 8.4% |
| Current portion of amounts payable after more than one year42 | - | €8,210 | €8,347 | €8,487 | €8,629 | ▲ 1.7% |
| Financial debts43 | - | €90,000 | €102,500 | €55,000 | €38,000 | ▼ 30.9% |
| Credit institutions430/8 | - | €90,000 | €102,500 | €55,000 | €38,000 | ▼ 30.9% |
| Trade debts44 | €87,255 | €61,713 | €158,590 | €111,489 | €80,217 | ▼ 28.0% |
| Suppliers440/4 | - | €61,713 | €158,590 | €111,489 | €80,217 | ▼ 28.0% |
| Advances received on contracts in progress46 | - | €3,201 | €3,201 | - | - | - |
| Taxes, remuneration and social security45 | - | €22,843 | €29,754 | €36,579 | €45,487 | ▲ 24.4% |
| Taxes450/3 | - | €21,633 | €17,190 | €21,259 | €32,400 | ▲ 52.4% |
| Remuneration and social security454/9 | - | €1,210 | €12,564 | €15,320 | €13,087 | ▼ 14.6% |
| Other amounts payable47/48 | - | €56,068 | €10,635 | €14,331 | €34,688 | ▲ 142% |
| Accrued charges and deferred income492/3 | - | €7,368 | €2,118 | €3,035 | €7,336 | ▲ 142% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,708 | €78,741 | €76,168 | €84,616 | €7,006 | ▼ 91.7% |
| + Depreciation and write-downs630 | €35,941 | €22,361 | €31,079 | €27,403 | €24,335 | ▼ 11.2% |
| Operating cash flow (approximation) | €90,649 | €101,102 | €107,247 | €112,019 | €31,341 | ▼ 72.0% |
| Investment in fixed assets (approximation) | - | -€59,390 | -€16,626 | -€4,015 | -€9,954 | ▼ 148% |
| Change in cash | - | -€25,087 | -€5,443 | -€24,176 | €3,137 | ▲ 113% |
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
2026
05-03
State Gazette act
Capital & shares · RestructuringDemerger · Real estate · Accounting effect7 facts ▸
State Gazette act
Capital & shares · Restructuring
Demerger · Real estate · Accounting effect7 facts ▸
- General meeting, 20-02-2026
- Demerger, partial, 0
- Real estate, Een industriegebouw op en met grond en aanhorigheden gelegen Industrieweg-Noord nummer 1138, gekadastreerd volgens titel sectie B nummer 905/V/4 en volgens rece…
- Accounting effect, 01-01-2025
- Capital decrease, €178.084,13
- Power of attorney, de bestuurder
- Approval, goedkeuring van de inbreng ingevolge partiële splitsing
2025
19-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Highest result since 2018net €84,616 ▲11.1%
Operating result €116,513, net result €84,616, both a record.
23-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €200,000Eq €271,336 ▲39%
3 profitable years in a row build equity to €271,336.
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €54,708
Net result €54,708 after 2 loss-making years.
31-12
Financial
Equity above €150,000Eq €166,426 ▲49%
Equity rises from €111,718 to €166,426.
26-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet -€22,417
Net result drops to -€22,417, the lowest in the series; recovery starts the following year.
Show earlier events
16-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 16 days late
2016
24-03
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 8 acts read
About the unread acts
Of the 8 Belgian State Gazette acts we know for this company, 1 has been read. The other 7 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
8 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Oudsbergen · 2 establishment units since 1998
Ground area
2.5 ha
Building footprint
4,611 m²
Volume, LiDAR
30,950 m³
2 parcels, Flanders · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
2 establishment units
Industrieweg-Noord 1138, 3660 Oudsbergen
since 19982.045.119.195
Cornet Seating Renovation
since 20142.228.552.333
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71562B0913/00V007 | Flanders | 1.4 ha | 1 · 1,953 m² | 7.9 m · 2 fl. |
| 71562B0905/00V004 | Flanders | 1.1 ha | 1 · 2,658 m² | 8.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- DE BRUG
- CORNET SEATING SYSTEMS
Highest known parent: DE BRUG. The sources do not say who stands above it.
Owners 1
- DE BRUGparent99.9%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionSplit off to:Immo Ami
Capital and shareholders
Capital over the years
- 05-03-2026 Capital reduction of 178,084.13 EUR · “vermindering van het patrimonium ... zonder vernietiging van aandelen”
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 239 EUR awarded · 239 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 144 EUR | 144 EUR |
| 2024 | 1 | 95 EUR | 95 EUR |
Recognitions · licences · registrations
Recognised contractor
3 categoriesCORNET SEATING SYSTEMS BV23275
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Of 3,984 companies in sector 25110 we hold annual accounts for 2,146. 1,620 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
Founded19-09-1989
Fiscal year end31-12
Activities, NACEBEL 2025
25110Manufacture of metal structures and parts of structures
25530Machining of metals
43222Installation of electric heating, air conditioning, cooling and ventilation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438423766
Also
9925:BE0438423766
Registered
02-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.