Summary
CORPAD is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €443,911 and a net result of €26,958. Equity is growing by about 8.7% per year across the filed financial years. Its solvency ranks better than 25% of 6,648 sector peers (NACE 64, financial year 2025). The company has been active since 2002 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (77 days) Filed on 16 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00560976.
Equity
€443,911▲ 6.5%
2024 · €416,953
Net result
€26,958▼ 41.6%
2024 · €46,148
Total assets
€1.9m▲ 1.3%
2024 · €1.9m
Solvency
23.2%▲ 1.1pp
2024 · 22.0%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 40% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€0.06m
2025
Net result€0.03m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.9m
2025
Equity€0.4m
2025
Debt€1.4m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€0.5m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)1.4%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency23.2%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.44
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.03m--€0.03m▲ 2.7%€0.1m€0.08m▼ 26.7%€0.05m▼ 37.0%€0.03m▼ 41.1%€0.1m▲ 259%€0.06m▼ 39.7%
Net result-€0.04m--€0.03m▲ 12.5%€0.09mabove the sector's middle half€0.06mwithin the sector's middle half▼ 39.8%€0.02mwithin the sector's middle half▼ 67.0%-€0.003mbelow the sector's middle half€0.05mwithin the sector's middle half€0.03mwithin the sector's middle half▼ 41.6%
Equity€0.2m-€0.2m▼ 11.3%€0.3mwithin the sector's middle half▲ 47.1%€0.4mwithin the sector's middle half▲ 20.4%€0.4mwithin the sector's middle half▲ 5.3%€0.4mwithin the sector's middle half▼ 0.7%€0.4mwithin the sector's middle half▲ 12.4%€0.4mwithin the sector's middle half▲ 6.5%
Total assets€0.4m-€0.3m▼ 5.8%€0.4mwithin the sector's middle half▲ 15.0%€1.3mabove the sector's middle half▲ 242%€1.3mabove the sector's middle half▼ 2.6%€1.8mabove the sector's middle half▲ 44.0%€1.9mwithin the sector's middle half▲ 2.4%€1.9mwithin the sector's middle half▲ 1.3%
Debt€0.06m-€0.07m▲ 21.8%€0.02m▼ 64.9%€0.9m▲ 3,661%€0.8m▼ 5.7%€1.4m▲ 67.4%€1.4m▲ 0.1%€1.4m=
Working capital€0.1m-€0.1m▼ 12.5%€0.2mabove the sector's middle half▲ 142%€0.01mwithin the sector's middle half▼ 94.2%€0.04mwithin the sector's middle half▲ 167%-€0.4mbelow the sector's middle half-€0.3mbelow the sector's middle half▲ 10.3%-€0.5mbelow the sector's middle half▼ 30.7%
Solvency63.5%-59.8%▼ 3.7pp76.4%above the sector's middle half▲ 16.7pp26.9%within the sector's middle half▼ 49.5pp29.1%within the sector's middle half▲ 2.2pp20.1%below the sector's middle half▼ 9.1pp22.0%below the sector's middle half▲ 2.0pp23.2%within the sector's middle half▲ 1.1pp
Current ratio3.24-2.49▼ 0.7511.26above the sector's middle half▲ 8.771.06within the sector's middle half▼ 10.201.20within the sector's middle half▲ 0.140.42below the sector's middle half▼ 0.770.49within the sector's middle half▲ 0.060.44within the sector's middle half▼ 0.05
Return on assets (ROA)-10.1%--9.4%▲ 0.7pp24.5%above the sector's middle half▲ 33.8pp4.3%within the sector's middle half▼ 20.2pp1.5%within the sector's middle half▼ 2.9pp-0.1%below the sector's middle half▼ 1.6pp2.4%within the sector's middle half▲ 2.6pp1.4%within the sector's middle half▼ 1.0pp
Staff (FTE)0within the sector's middle half0within the sector's middle half
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.9m
Fixed assets
€1.6m ▲ 0.2%
Current assets
€347,776 ▲ 6.6%
Equity and liabilities €1.9m
Equity
€443,911 ▲ 6.5%
Provisions
€55,604 ▼ 4.1%
Debt
€1.4m =
Debt's share of the balance-sheet total falls from 74.9% to 73.9%. Equity is higher.
Key figures and ratios
ROE
6.1%▼
2024 · 11.1%
Debt ≤ 1 year
€798,363▲
2024 · €671,054
Debt > 1 year
€616,734▼
2024 · €739,574
Income taxes
€22,513▼
2024 · €31,189
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4,379 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,232 | €7,477 | €5,446 | €16,983 | €41,782 | €34,279 | €37,533 | €37,069 | ▼ 1.2% |
| Other operating charges640/8 | - | - | - | €4,955 | €5,237 | €4,783 | €4,573 | €5,208 | ▲ 13.9% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €552 | €0 | ▼ 100% |
| Gross operating margin9900 | -€12,275 | -€7,755 | €116,339 | €99,436 | €95,821 | €67,817 | €145,998 | €104,593 | ▼ 28.4% |
| Operating profit (loss)9901 | -€34,610 | -€33,676 | €105,734 | €77,497 | €48,802 | €28,755 | €103,341 | €62,316 | ▼ 39.7% |
| Financial income75/76B | - | - | - | €8,060 | €6,780 | €7,197 | €8,329 | €8,676 | ▲ 4.2% |
| Recurring financial income75 | €5,572 | €5,470 | €5,740 | €8,060 | €6,780 | €7,197 | €8,329 | €8,676 | ▲ 4.2% |
| Financial charges65/66B | - | - | - | €10,160 | €16,977 | €34,312 | €36,719 | €23,908 | ▼ 34.9% |
| Recurring financial charges65 | €5,187 | €3,756 | €1,837 | €10,160 | €16,977 | €34,312 | €36,719 | €23,908 | ▼ 34.9% |
| Profit (loss) for the period before taxes9903 | -€34,225 | -€31,962 | €109,637 | €75,397 | €38,605 | €1,641 | €74,951 | €47,084 | ▼ 37.2% |
| Transfer from deferred taxes780 | - | - | - | €1,120 | €2,477 | €2,477 | €2,387 | €2,387 | = |
| Income taxes67/77 | €3,015 | €778 | €15,330 | €19,731 | €22,345 | €6,807 | €31,189 | €22,513 | ▼ 27.8% |
| Profit (loss) for the period9904 | -€35,914 | -€31,413 | €94,308 | €56,786 | €18,738 | -€2,689 | €46,148 | €26,958 | ▼ 41.6% |
| Transfer from tax-exempt reserves789 | - | - | - | €4,481 | €9,909 | €9,909 | €9,547 | €9,547 | = |
| Profit (loss) for the period to be appropriated9905 | -€35,914 | -€31,413 | €127,521 | €61,267 | €28,647 | €7,220 | €55,695 | €36,505 | ▼ 34.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.4m | €0.3m | €0.4m | €1.3m | €1.3m | €1.8m | €1.9m | €1.9m | ▲ 1.3% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.1m | €1.1m | €1.1m | €1.6m | €1.6m | €1.6m | ▲ 0.2% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.1m | €1.1m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 3.8% |
| Land and buildings22 | - | - | - | €1.1m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 3.8% |
| Other tangible fixed assets26 | - | - | - | €0.003m | €0.003m | €0.002m | €0.002m | €0.002m | = |
| Financial fixed assets28 | €0.02m | - | - | - | €0.03m | €0.6m | €0.6m | €0.6m | ▲ 6.8% |
| Current assets29/58 | €0.2m | €0.2m | €0.3m | €0.3m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 6.6% |
| Amounts receivable after more than one year29 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Other amounts receivable291 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Amounts receivable within one year40/41 | €0.01m | €0.01m | €0.03m | €0.02m | €0.02m | €0.06m | €0.1m | €0.1m | ▲ 18.3% |
| Trade receivables40 | - | - | - | €0.02m | €0.01m | €0.04m | €0.09m | €0.08m | ▼ 6.0% |
| Other amounts receivable41 | - | - | - | - | €0.005m | €0.02m | €0.03m | €0.05m | ▲ 95.1% |
| Current investments50/53 | - | - | - | - | - | €0.001m | €0.001m | €0.001m | = |
| Cash at bank and in hand54/58 | - | €1 | €0.03m | €0.03m | €250 | €0.006m | €5 | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 4.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.4m | €0.3m | €0.4m | €1.3m | €1.3m | €1.8m | €1.9m | €1.9m | ▲ 1.3% |
| Equity10/15 | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 6.5% |
| Contributions10/11 | €0.04m | €0.04m | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Contributions outside capital11 | - | - | - | €0.04m | €0.04m | €0.04m | - | - | - |
| Other1109/19 | - | - | - | €0.04m | €0.04m | €0.04m | - | - | - |
| Reserves13 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 7.2% |
| Non-distributable reserves130/1 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Reserves not available under the articles1311 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Tax-exempt reserves132 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 4.1% |
| Distributable reserves133 | - | - | - | €0.05m | €0.07m | €0.08m | €0.1m | €0.2m | ▲ 26.6% |
| Profit (loss) carried forward14 | -€0.2m | -€0.2m | -€0.06m | - | - | - | - | - | - |
| Provisions and deferred taxes16 | €0.07m | €0.07m | €0.07m | €0.07m | €0.06m | €0.06m | €0.06m | €0.06m | ▼ 4.1% |
| Deferred taxes168 | - | - | - | €0.07m | €0.06m | €0.06m | €0.06m | €0.06m | ▼ 4.1% |
| Amounts payable17/49 | €0.06m | €0.07m | €0.02m | €0.9m | €0.8m | €1.4m | €1.4m | €1.4m | = |
| Amounts payable after more than one year17 | €0.004m | - | - | €0.6m | €0.7m | €0.7m | €0.7m | €0.6m | ▼ 16.6% |
| Financial debts170/4 | - | - | - | €0.6m | €0.7m | €0.7m | €0.7m | €0.6m | ▼ 16.6% |
| Amounts payable within one year42/48 | €0.05m | €0.07m | €0.02m | €0.2m | €0.2m | €0.7m | €0.7m | €0.8m | ▲ 19.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.05m | €0.05m | €0.09m | €0.1m | €0.1m | ▲ 3.8% |
| Financial debts43 | - | - | - | €0.01m | €0.006m | €0.3m | €0.007m | €0.008m | ▲ 12.7% |
| Credit institutions430/8 | - | - | - | €0.01m | €0.006m | €0.3m | €0.007m | €0.008m | ▲ 12.7% |
| Trade debts44 | €0.001m | €0.009m | €0.002m | €0.1m | €0.06m | €0.06m | €0.06m | €0.07m | ▲ 22.8% |
| Suppliers440/4 | - | - | - | €0.1m | €0.06m | €0.06m | €0.06m | €0.07m | ▲ 22.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.04m | €0.04m | €0.06m | €0.08m | ▲ 22.8% |
| Taxes450/3 | - | - | - | €0.04m | €0.04m | €0.04m | €0.06m | €0.08m | ▲ 22.8% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.04m | €0.2m | €0.4m | €0.5m | ▲ 22.2% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.002m | €0.005m | €0.005m | €0.001m | ▼ 81.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€35,914 | -€31,413 | €94,308 | €56,786 | €18,738 | -€2,689 | €46,148 | €26,958 | ▼ 41.6% |
| + Depreciation and write-downs630 | €8,232 | €7,477 | €5,446 | €16,983 | €41,782 | €34,279 | €37,533 | €37,069 | ▼ 1.2% |
| Operating cash flow (approximation) | -€27,682 | -€23,936 | €99,754 | €73,770 | €60,520 | €31,589 | €83,681 | €64,026 | ▼ 23.5% |
| Investment in fixed assets (approximation) | - | €15,000 | €44,005 | -€955,360 | -€40,895 | -€542,165 | -€39,698 | -€40,250 | ▼ 1.4% |
| Change in cash | - | - | €25,539 | €7,635 | -€32,925 | €5,525 | -€5,770 | -€5 | ▲ 99.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 16-10-2026 | 2026-00560976 |
| 31-12-2024 | abbreviated format | 13-04-2026 | 2026-00078138 |
| 31-12-2023 | micro format | 10-10-2024 | 2024-00504684 |
| 31-12-2022 | micro format | 12-10-2023 | 2023-00485508 |
| 31-12-2021 | micro format | 27-10-2022 | 2022-20477151 |
| 31-12-2020 | micro format | 05-03-2021 | 2021-07000082 |
| 31-12-2019 | micro format | 29-09-2020 | 2020-56900154 |
| 31-12-2018 | micro format | 14-10-2019 | 2019-70400309 |
| 31-12-2017 | abbreviated format | 19-07-2018 | 2018-35200494 |
| 31-12-2016 | abbreviated format | 30-10-2017 | 2017-68600431 |
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Subsidies and aid
Flemish government
2022 · 1 entry · €782 awarded · €527 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.