Correct-Services
ActiveSummary
Correct-Services has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.5m and a net result of €455,785. Equity has been growing by about 11% per year since 2018. Its solvency ranks better than 77% of 597 sector peers (NACE 33, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 30-06-2009 Normal situation
- Activity
- Repair and maintenance of machinery NACE 33120and 1 other
- Establishment unit
- 2.180.021.055 9032 Gent, since 30-06-2009
- Financial year end
- 31 December
- Peppol
- Reachable since 30-01-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
Annual accounts 2025
- Gross margin
- €1.8m
- ▼ 0.2%
- Turnover
- ≈ €3.0m
- estimated
- Profit
- €455,785
- ▼ 0.7%
- Equity
- €2.5m
- ▲ 22.1%
- Total assets
- €4.1m
- ▲ 0.1%
- Employees on 31-12-2025
- 13
- ▲ 8.3%
Score breakdownlowers riskFounded in 2009Size: 12.3 FTE, total assets €4.1mProfit of €455,785 (financial year 2025)Figures for financial year 2025 (filed on 02-07-2026)Show the evidence
Checked score
Score 2025
97
/ 100
Excellent
Probability in this band: under 0.55%
Financially stronger than 73% of small companies in repair and installation of machinery (NACE 33)
Financial strength · tick: 2024
Strong
Solvency
86+11
equity 61.4% of total assets
Liquidity
55+5
short-term debt 13.5% · cash 5.4%
Profitability
83=
return on assets 11.1%
Bankruptcy probability within 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.1%▼ -0.2 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.1%▼ -0.1 percentage points vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Credit of up to €240,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 4.29 (2.85 in 2024), above the usual 1.5. Short-term debt is 13.5% and cash 5.4% of total assets. 38.6% of the assets are financed with debt and provisions.
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 33, small). It does better than 80% of them on solvency, 69% on liquidity, 72% on profitability and 73% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskneutral
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 days early
2024
29 days early
2023
23 days early
2022
110 days early
2021
27 days early
2020
3 days early
2019
16 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 34 days before the deadline. In the sector (NACE 33), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 2 July (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
04-11-2026 today31-12-2026 year end31-07-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 02-07-2026 at the NBB all 15 filings
Turnover
≈ €3.0m
Estimated: probably between €2.1m and €5.0m
Total assets
€4.1m▲ 0.1%
2024 · €4.1m
Net result
€455,785▼ 0.7%
2024 · €458,875
Working capital
€1.8m▲ 18.9%
2024 · €1.5m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€659,427
▼ 3.9%
2025
20182025
Net result
€455,785
▼ 0.7%
2025
highest quarter of the sector
20182025
Equity
€2.5m
▲ 22.1%
2025
highest quarter of the sector
20182025
Total assets
€4.1m
▲ 0.1%
2025
highest quarter of the sector
20182025
Debt
€1.6m
▼ 22.1%
2025
20182025
Working capital
€1.8m
▲ 18.9%
2025
highest quarter of the sector
20182025
Solvency
61.4%
▲ 11.0pp
2025
highest quarter of the sector
20182025
Current ratio
4.29
▲ 1.44
2025
highest quarter of the sector
20182025
Return on assets (ROA)
11.1%
▼ 0.1pp
2025
middle half of the sector
20182025
Staff (FTE)
12.3
▲ 5.1%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.4m-€0.4m▼ 15.0%€0.2m▼ 37.9%€0.4m▲ 78.9%€0.3m▼ 29.1%€0.5m▲ 86.0%€0.7m▲ 28.9%€0.7m▼ 3.9%
Net result€0.3m-€0.3m▼ 25.6%€0.1mabove the sector's middle half▼ 44.6%€0.3mabove the sector's middle half▲ 93.6%€0.2mabove the sector's middle half▼ 24.4%€0.4mabove the sector's middle half▲ 70.4%€0.5mabove the sector's middle half▲ 30.1%€0.5mabove the sector's middle half▼ 0.7%
Equity€1.0m-€1.2m▲ 25.9%€1.4mabove the sector's middle half▲ 11.4%€1.7mabove the sector's middle half▲ 19.8%€1.7mabove the sector's middle half▲ 1.0%€1.8mabove the sector's middle half▲ 9.6%€2.1mabove the sector's middle half▲ 12.7%€2.5mabove the sector's middle half▲ 22.1%
Total assets€2.4m-€2.8m▲ 15.9%€3.2mabove the sector's middle half▲ 17.0%€3.4mabove the sector's middle half▲ 6.1%€3.6mabove the sector's middle half▲ 6.0%€4.0mabove the sector's middle half▲ 10.7%€4.1mabove the sector's middle half▲ 1.7%€4.1mabove the sector's middle half▲ 0.1%
Debt€1.4m-€1.5m▲ 8.9%€1.8m▲ 19.0%€1.7m▼ 4.3%€1.9m▲ 11.0%€2.2m▲ 12.5%€2.0m▼ 6.2%€1.6m▼ 22.1%
Working capital€0.6m-€0.8m▲ 26.1%€0.6mabove the sector's middle half▼ 19.2%€0.9mabove the sector's middle half▲ 43.7%€0.8mabove the sector's middle half▼ 12.5%€1.5mabove the sector's middle half▲ 85.9%€1.5mabove the sector's middle half▲ 5.7%€1.8mabove the sector's middle half▲ 18.9%
Solvency41.3%-44.9%▲ 3.5pp42.7%within the sector's middle half▼ 2.2pp48.3%within the sector's middle half▲ 5.5pp46.0%within the sector's middle half▼ 2.3pp45.5%within the sector's middle half▼ 0.5pp50.4%within the sector's middle half▲ 4.9pp61.4%above the sector's middle half▲ 11.0pp
Current ratio2.56-2.71▲ 0.152.20within the sector's middle half▼ 0.512.38within the sector's middle half▲ 0.181.89within the sector's middle half▼ 0.493.00above the sector's middle half▲ 1.112.85above the sector's middle half▼ 0.154.29above the sector's middle half▲ 1.44
Return on assets (ROA)14.4%-9.2%▼ 5.2pp4.4%within the sector's middle half▼ 4.9pp8.0%within the sector's middle half▲ 3.6pp5.7%within the sector's middle half▼ 2.3pp8.8%within the sector's middle half▲ 3.1pp11.2%within the sector's middle half▲ 2.4pp11.1%within the sector's middle half▼ 0.1pp
Staff (FTE)7.6-10.8▲ 42.1%11.1above the sector's middle half▲ 2.8%11.5above the sector's middle half▲ 3.6%12above the sector's middle half▲ 4.3%11.9above the sector's middle half▼ 0.8%11.7above the sector's middle half▼ 1.7%12.3above the sector's middle half▲ 5.1%
above
within
below
The sector band is the middle half of the companies in Repair, maintenance and installation of machinery and equipment (NACE 33). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 4% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.1m
Fixed assets
€1.7m ▼ 0.6%
Current assets
€2.4m ▲ 0.6%
Equity and liabilities €4.1m
Equity
€2.5m ▲ 22.1%
Debt
€1.6m ▼ 22.1%
Debt's share of the balance-sheet total falls from 49.6% to 38.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€839,778▼
2024 · €886,430
Cash flow
€636,135▼
2024 · €659,261
Quick ratio
2.58▲
2024 · 1.71
Debt to equity
0.63▼
2024 · 0.98
ROE
18.1%▼
2024 · 22.2%
Interest coverage
21.74▲
2024 · 18.15
Debt ≤ 1 year
€554,312▼
2024 · €829,352
Debt > 1 year
€1.0m▼
2024 · €1.2m
Income taxes
€172,905▼
2024 · €183,556
Staff costs
€910,204▲
2024 · €867,588
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 13 | 14 | 11 | 12 | 13 |
| full-time | 11 | 11 | 10 | 10 | 11 |
| part-time | 2 | 3 | 1 | 2 | 2 |
| in full-time equivalents | 12.1 | 12.8 | 10.8 | 11.4 | 12.4 |
| Average over the year, in full-time equivalents | 11.5 | 12 | 11.9 | 11.7 | 12.3 |
| On a permanent contract | 13 | 14 | 11 | 12 | 13 |
| Joined | 5 | 1 | 6 | 15 | 49 |
| Left | 5 | 0 | 9 | 412 | 48 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €799,984 | €955,990 | €1.6m | €1.4m | €1.2m |
| Mortgages, amount registered | €300,000 | €300,000 | €300,000 | €300,000 | €300,000 |
| Mortgage mandates | €700,000 | €700,000 | €1.1m | €1.1m | €1.1m |
| Carrying value of the mortgaged assets | €1.0m | €1.1m | €1.1m | €1.1m | €1.0m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €80,386 | €321,883 | €129,661 | €82,880 | €171,885 |
| Intangible fixed assets | €20,000 | - | - | - | - |
| Financial fixed assets | €40 | €5 | €5 | - | €10 |
| Depreciation and write-downs of the year | €226,983 | €207,954 | €201,893 | €200,386 | €180,351 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €3,787 awarded · €3,787 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €1,022 | €1,022 |
| 2023 | 1 | €368 | €417 |
| 2022 | 1 | €2,397 | €2,348 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.01m | €0.02m | - | €159 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.7m | €0.8m | €0.9m | €0.9m | €0.9m | ▲ 4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.001m | €0.005m | €0.01m | €342 | €0.001m | ▲ 288% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | -€0.01m | - | - | - |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.01m | €0.02m | €0.02m | ▼ 2.9% |
| Non-recurring operating charges66A | - | - | - | €0.002m | €0.001m | €0.009m | €0.001m | €41 | ▼ 94.2% |
| Gross operating margin9900 | €1.1m | €1.3m | €1.1m | €1.4m | €1.3m | €1.6m | €1.8m | €1.8m | ▼ 0.2% |
| Operating profit (loss)9901 | €0.4m | €0.4m | €0.2m | €0.4m | €0.3m | €0.5m | €0.7m | €0.7m | ▼ 3.9% |
| Financial income75/76B | - | - | - | €0.001m | €0.001m | €0.01m | €0.005m | €0.008m | ▲ 50.6% |
| Recurring financial income75 | €410 | €41 | €0.002m | €0.001m | €0.001m | €0.01m | €0.005m | €0.008m | ▲ 50.6% |
| Financial charges65/66B | - | - | - | €0.02m | €0.02m | €0.04m | €0.05m | €0.04m | ▼ 20.9% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.04m | €0.05m | €0.04m | ▼ 20.9% |
| Profit (loss) for the period before taxes9903 | €0.4m | €0.3m | €0.2m | €0.4m | €0.3m | €0.5m | €0.6m | €0.6m | ▼ 2.1% |
| Income taxes67/77 | €0.07m | €0.09m | €0.06m | €0.1m | €0.06m | €0.1m | €0.2m | €0.2m | ▼ 5.8% |
| Profit (loss) for the period9904 | €0.3m | €0.3m | €0.1m | €0.3m | €0.2m | €0.4m | €0.5m | €0.5m | ▼ 0.7% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | - | €0.08m | - |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.3m | €0.1m | €0.3m | €0.2m | €0.4m | €0.5m | €0.4m | ▼ 19.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.4m | €2.8m | €3.2m | €3.4m | €3.6m | €4.0m | €4.1m | €4.1m | ▲ 0.1% |
| Fixed assets21/28 | €1.4m | €1.5m | €2.1m | €1.9m | €2.0m | €1.9m | €1.7m | €1.7m | ▼ 0.6% |
| Intangible fixed assets21 | €0.04m | €0.08m | €0.09m | €0.1m | €0.08m | €0.07m | €0.06m | €0.04m | ▼ 24.1% |
| Tangible fixed assets22/27 | €1.3m | €1.5m | €1.6m | €1.4m | €1.5m | €1.4m | €1.3m | €1.3m | ▲ 0.3% |
| Land and buildings22 | - | - | - | €1.0m | €1.1m | €1.1m | €1.1m | €1.0m | ▼ 6.2% |
| Plant, machinery and equipment23 | - | - | - | €0.08m | €0.05m | €0.06m | €0.04m | €0.08m | ▲ 98.8% |
| Furniture and vehicles24 | - | - | - | €0.2m | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 21.9% |
| Leasing and similar rights25 | - | - | - | €0.1m | €0.1m | €0.07m | €0.04m | €0.04m | ▲ 4.5% |
| Financial fixed assets28 | €460 | €340 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Current assets29/58 | €1.0m | €1.2m | €1.1m | €1.5m | €1.7m | €2.2m | €2.4m | €2.4m | ▲ 0.6% |
| Amounts receivable after more than one year29 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Trade receivables290 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Stocks and contracts in progress3 | €0.3m | €0.3m | €0.4m | €0.6m | €0.7m | €0.7m | €0.9m | €1.0m | ▲ 1.0% |
| Stocks30/36 | - | - | - | €0.6m | €0.7m | €0.7m | €0.9m | €1.0m | ▲ 1.0% |
| Amounts receivable within one year40/41 | €0.4m | €0.5m | €0.4m | €0.3m | €0.5m | €0.6m | €0.5m | €0.5m | ▲ 1.1% |
| Trade receivables40 | - | - | - | €0.3m | €0.5m | €0.6m | €0.5m | €0.5m | ▲ 2.9% |
| Other amounts receivable41 | - | - | - | €0.004m | €0.03m | €0.005m | €0.01m | €0.003m | ▼ 72.6% |
| Current investments50/53 | - | - | - | - | - | €0.5m | €0.5m | €0.5m | = |
| Cash at bank and in hand54/58 | €0.3m | €0.4m | €0.3m | €0.5m | €0.3m | €0.1m | €0.2m | €0.2m | ▲ 12.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.05m | €0.1m | €0.1m | €0.09m | ▼ 22.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.4m | €2.8m | €3.2m | €3.4m | €3.6m | €4.0m | €4.1m | €4.1m | ▲ 0.1% |
| Equity10/15 | €1.0m | €1.2m | €1.4m | €1.7m | €1.7m | €1.8m | €2.1m | €2.5m | ▲ 22.1% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.3m | €0.4m | €0.5m | €0.6m | €0.5m | €1.0m | €1.1m | €1.3m | ▲ 24.7% |
| Non-distributable reserves130/1 | - | - | - | - | - | €0.5m | €0.5m | €0.5m | = |
| Own shares acquired1312 | - | - | - | - | - | €0.5m | €0.5m | €0.5m | = |
| Tax-exempt reserves132 | - | - | - | - | - | - | - | €0.08m | - |
| Distributable reserves133 | - | - | - | €0.6m | €0.5m | €0.5m | €0.6m | €0.8m | ▲ 30.3% |
| Profit (loss) carried forward14 | €0.6m | €0.8m | €0.8m | €1.0m | €1.2m | €0.9m | €1.0m | €1.2m | ▲ 19.6% |
| Provisions and deferred taxes16 | - | - | €0.04m | €0.04m | €0.04m | €0.03m | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.04m | €0.04m | €0.03m | - | - | - |
| Other liabilities and charges164/5 | - | - | - | €0.04m | €0.04m | €0.03m | - | - | - |
| Amounts payable17/49 | €1.4m | €1.5m | €1.8m | €1.7m | €1.9m | €2.2m | €2.0m | €1.6m | ▼ 22.1% |
| Amounts payable after more than one year17 | €1.0m | €1.0m | €1.3m | €1.1m | €1.0m | €1.4m | €1.2m | €1.0m | ▼ 14.5% |
| Financial debts170/4 | - | - | - | €1.1m | €1.0m | €1.4m | €1.2m | €1.0m | ▼ 14.5% |
| Other amounts payable178/9 | - | - | - | - | - | - | €0.002m | €0.002m | = |
| Amounts payable within one year42/48 | €0.4m | €0.4m | €0.5m | €0.6m | €0.9m | €0.7m | €0.8m | €0.6m | ▼ 33.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 0.4% |
| Financial debts43 | - | - | - | €0.02m | €0.03m | €0.09m | €0.1m | €0.04m | ▼ 69.1% |
| Credit institutions430/8 | - | - | - | €0.02m | €0.03m | €0.09m | €0.1m | €0.04m | ▼ 69.1% |
| Trade debts44 | €0.1m | €0.1m | €0.1m | €0.2m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 44.9% |
| Suppliers440/4 | - | - | - | €0.2m | €0.3m | €0.2m | €0.2m | €0.1m | ▼ 44.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 19.4% |
| Taxes450/3 | - | - | - | €0.07m | €0.04m | €0.07m | €0.04m | €0.06m | ▲ 44.0% |
| Remuneration and social security454/9 | - | - | - | €0.05m | €0.06m | €0.06m | €0.06m | €0.07m | ▲ 4.3% |
| Other amounts payable47/48 | - | - | - | €0.005m | €0.1m | - | €0.1m | €0.02m | ▼ 84.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.02m | €0.03m | €0.01m | €0.01m | ▼ 23.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €343,139 | €255,190 | €141,365 | €273,642 | €206,980 | €352,608 | €458,875 | €455,785 | ▼ 0.7% |
| + Depreciation and write-downs630 | €191,289 | €246,799 | €233,961 | €226,983 | €207,954 | €201,893 | €200,386 | €180,351 | ▼ 10.0% |
| Operating cash flow (approximation) | €534,428 | €501,990 | €375,326 | €500,625 | €414,934 | €554,501 | €659,261 | €636,135 | ▼ 3.5% |
| Investment in fixed assets (approximation) | - | -€408,987 | -€785,651 | -€23,285 | -€292,246 | -€73,535 | -€83,039 | -€170,656 | ▼ 106% |
| Change in cash | - | €119,642 | -€77,617 | €182,760 | -€218,086 | -€117,376 | €52,670 | €24,325 | ▼ 53.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,811 companies had the same profile as Correct-Services has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of Correct-Services itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,811 companies, not a prediction for Correct-Services. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 02-07-2026 | 2026-00239864 | |
| 31-12-2024 | abbreviated format | 02-07-2025 | 2025-00213607 | |
| 31-12-2023 | abbreviated format | 08-07-2024 | 2024-00217649 | |
| 31-12-2022 | abbreviated format | 12-04-2023 | 2023-00057350 | |
| 31-12-2021 | abbreviated format | 04-07-2022 | 2022-20130443 | |
| 31-12-2020 | abbreviated format | 28-07-2021 | 2021-42000128 | |
| 31-12-2019 | abbreviated format | 15-07-2020 | 2020-30200037 | |
| 31-12-2018 | abbreviated format | 16-07-2019 | 2019-33200072 | |
| 31-12-2017 | abbreviated format | 06-07-2018 | 2018-30200041 | |
| 31-12-2016 | abbreviated format | 20-07-2017 | 2017-34100191 |
Board & ownership
Directors
Directors
Last change in 2023
Owners and capital
Owners
Mandate history
1 person, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Poppe Mario |
|
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
02-07
abbreviated format · 29 days before the deadline
2025
02-07
abbreviated format · 29 days before the deadline
2024
31-12
Financial
Highest result from 2018 to 2025net €458,875 ▲30.1%
The operating result of €686,044 and the net result of €458,875 are both a record.
31-12
Financial
Equity above €2mequity €2.1m ▲12.7%
With a profit in every financial year since 2018, equity grows to €2.1m.
08-07
abbreviated format · 23 days before the deadline
2023
12-04
abbreviated format · 110 days before the deadline
11-04
Gazette deed
Resignation: Poppe Mario (director)Shareholding · Share cancellation · Amendment of the articles7 points ▸
Gazette deed
Resignation: Poppe Mario (director)
Shareholding · Share cancellation · Amendment of the articles7 points ▸
- Other provision, “rechtstreeks of door personen in eigen naam voor rekening vennootschap,door aankoop of ruil,inschrijving op certificaten na uitgifte, kennisname beslissing inko…” (deed in Dutch)
- The company holds 52 shares of Correct-Services
- General meeting, 29-03-2023
- Share cancellation, “eigen ingekochte aandelen”, 15 (deed in Dutch)
- Amendment of the articles
- Director resignation, Poppe Mario (director)
- Power of attorney
2022
04-07
abbreviated format · 27 days before the deadline
2021
28-07
abbreviated format · 3 days before the deadline
2020
31-12
Financial
Weakest financial yearnet €141,365 ▼44.6%
The net result drops to €141,365, the lowest from 2018 to 2025. It recovers the following year.
15-07
abbreviated format · 16 days before the deadline
2019
31-12
Financial
Equity above €1mequity €1.2m ▲25.9%
With a profit in every financial year since 2018, equity grows to €1.2m.
Show earlier events
16-07
abbreviated format · 15 days before the deadline
2018
06-07
abbreviated format · 25 days before the deadline
2017
20-07
abbreviated format · 11 days before the deadline
2009
22-07
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
Correct-Services in Dutch
Enterprise number
0816.952.707
Legal form
Private limited company
Status
Active, normale toestand
Founded
30-06-2009
Entity type
Legal entity
Registered office and establishments
Registered office
Baron Van Loolaan 8, 9940 Evergem, Belgium
Establishment unit
Correct, Industrieweg 122/N, 9032 Gent since 30-06-2009 · unit number 2.180.021.055
Activities
NACEBEL 2025VAT activities
33120
Repair and maintenance of machinery main activity
64210
Activities of holding companies
Social security (RSZ) activities
33120
Repair and maintenance of machinery main activity
Codes under NACEBEL 2008
VAT activities
33120
Repair, maintenance and installation of machinery and equipment main activity
64200
Holdings
Social security (RSZ) activities
33120
Repair, maintenance and installation of machinery and equipment main activity
Invoicing and payment
VAT number
BE 0816.952.707
Financial year and general meeting
Accounts at the NBBFinancial year end
31-12
Sites & property
Location
Buildings and parcels at the address
Ground area
3,007 m²
Building footprint
1,399 m²
Building volume
2 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 44019A1800/00A000 | Flanders | 3,007 m² | 1 · 1,399 m² | 0.1 m |