Equity
Correlation paid out €105,550 in dividends. That is 219% of the 2026 profit.
Correlation paid out €105,550 in dividends. That is 219% of the 2026 profit.
Debts rose by €86,136 in 2026. A dividend stands under other debts on the balance sheet date until it is paid.
The last five annual accounts were filed 24 to 53 days before the end of the period.
In July 2024, 34,691 companies had the same profile as Correlation has now. Each dot stands for 87 companies, two years later.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 34,691 companies, not a prediction for Correlation. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| Correlation Hannut | €323,340 | €91,870 | 57.1% | - |
| S-CONSULTING Lier | €319,961 | €93,415 | 82.1% | - |
| SET IT UP Waterloo | €327,682 | €93,912 | 50.3% | - |
| DE KEERSMAEKER CONSULTING Kontich | €323,349 | €88,534 | 98.4% | - |
| CODESTATION Kapellen | €320,000 | €96,850 | 44.5% | - |
| IS Partner Genappe | €334,438 | €87,687 | 73.2% | - |
| NY PERFORMANCES Woluwe-Saint-Lambert | €340,601 | €89,442 | 74.0% | - |
These companies have the same main activity as Correlation: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €320,000 and €341,000, founded between 2011 and 2012.
Correlation files the micro format. That format states no turnover. The gross margin rose from €62,763 in 2013 to €91,870 in 2026.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €180,000. Estimated: probably between €160,000 and €230,000.
Higher than 78% of 21,217 companies in 2025.
Higher than 77% of 20,581 companies in 2025.
Higher than 38% of 20,756 companies in 2025.
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||
20/58 |
323,340 | 294,514 | 280,022 | 258,084 | 193,355 | 194,946 | 176,159 | 162,253 | 140,229 | 128,123 | 96,858 | 80,135 | 81,792 | 86,677 | |
21/28 |
63,533 | 68,748 | 89,042 | 104,031 | 43,175 | 60,421 | 57,348 | 72,798 | 73,389 | 83,455 | 47,823 | 19,259 | 21,669 | 27,518 | |
22/27 |
63,508 | 68,723 | 89,017 | 104,006 | 43,150 | 60,396 | 57,323 | 72,773 | 73,364 | 83,430 | 47,798 | 19,234 | 21,644 | 27,493 | |
23 |
17,251 | 21,037 | 28,302 | 35,566 | 30,670 | 35,372 | 22,081 | 27,486 | 33,011 | 35,078 | 34,405 | 480 | - | - | |
24 |
40,891 | 46,706 | 60,716 | 68,440 | 12,479 | 25,024 | 35,242 | 45,287 | 40,353 | 48,352 | 13,393 | 18,754 | 21,644 | 27,493 | |
26 |
5,366 | 980 | - | - | - | - | - | - | - | - | - | - | - | - | |
28 |
25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | |
29/58 |
259,807 | 225,766 | 190,979 | 154,053 | 150,180 | 134,525 | 118,811 | 89,455 | 66,840 | 44,668 | 49,035 | 60,876 | 60,123 | 59,159 | |
29 |
- | - | - | - | 7,628 | 4,500 | 7,071 | 9,643 | 12,214 | 14,785 | 17,357 | - | - | - | |
290 |
- | - | - | - | - | - | - | - | - | 14,785 | - | - | - | - | |
291 |
- | - | - | - | 7,628 | 4,500 | 7,071 | 9,643 | 12,214 | - | 17,357 | - | - | - | |
40/41 |
34,267 | 17,990 | 16,281 | 17,040 | 47,182 | 42,108 | 44,649 | 20,994 | 25,166 | 14,830 | 21,174 | 12,977 | 23,910 | 24,188 | |
40 |
34,267 | 17,990 | 16,281 | 17,040 | 45,762 | 42,108 | 44,649 | 20,994 | 25,166 | 14,830 | 21,174 | 12,977 | 23,910 | 24,188 | |
41 |
- | - | - | - | 1,420 | - | - | - | - | - | - | - | - | - | |
50/53 |
19,522 | 10,000 | - | - | - | - | - | - | - | - | - | - | - | - | |
54/58 |
205,725 | 197,080 | 174,476 | 136,313 | 94,406 | 87,029 | 66,515 | 58,562 | 29,460 | 15,053 | 10,004 | 47,899 | 36,213 | 34,971 | |
490/1 |
292 | 696 | 223 | 699 | 964 | 888 | 576 | 256 | - | - | 500 | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||
10/49 |
323,340 | 294,514 | 280,022 | 258,084 | 193,355 | 194,946 | 176,159 | 162,253 | 140,229 | 128,123 | 96,858 | 80,135 | 81,792 | 86,677 | |
10/15 |
184,618 | 241,929 | 224,010 | 195,823 | 169,627 | 161,492 | 141,067 | 123,759 | 111,238 | 95,406 | 82,194 | 67,872 | 61,984 | 44,036 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | 18,550 | |
101 |
- | - | - | - | - | - | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | 12,350 | |
11 |
- | - | - | - | - | 6,200 | - | - | - | - | - | - | - | - | |
1109/19 |
- | - | - | - | - | 6,200 | - | - | - | - | - | - | - | - | |
13 |
136,700 | 193,177 | 175,258 | 147,072 | 120,875 | 112,740 | 92,355 | 75,355 | 65,355 | 50,855 | 38,155 | 24,855 | 22,355 | 13,855 | |
130/1 |
- | - | - | 1,855 | 1,855 | 1,855 | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | 1,855 | |
1311 |
- | - | - | 1,855 | 1,855 | 1,855 | - | - | - | - | - | - | - | - | |
132 |
13,500 | 13,500 | 13,500 | 13,500 | 13,500 | 20,385 | 43,500 | 43,500 | 43,500 | 36,000 | 30,000 | 23,000 | 20,500 | 12,000 | |
133 |
123,200 | 179,677 | 161,758 | 131,717 | 105,520 | 90,500 | 47,000 | 30,000 | 20,000 | 13,000 | 6,300 | - | - | - | |
14 |
41,719 | 42,552 | 42,552 | 42,552 | 42,552 | 42,552 | 42,512 | 42,204 | 39,683 | 38,351 | 37,839 | 36,817 | 33,429 | 23,981 | |
17/49 |
138,721 | 52,586 | 56,012 | 62,261 | 23,728 | 33,454 | 35,092 | 38,494 | 28,991 | 32,717 | 14,664 | 12,263 | 19,808 | 42,641 | |
17 |
- | 10,922 | 22,413 | 33,477 | - | 6,680 | 15,502 | 24,228 | 11,213 | 19,482 | - | - | 6,528 | 14,982 | |
170/4 |
- | 10,922 | 22,413 | 33,477 | - | 6,680 | 15,502 | 24,228 | 11,213 | 19,482 | - | - | 6,528 | 14,982 | |
42/48 |
138,523 | 41,478 | 33,449 | 28,728 | 23,728 | 26,774 | 19,590 | 14,266 | 17,778 | 13,235 | 14,664 | 12,263 | 11,230 | 27,659 | |
42 |
10,922 | 11,491 | 11,064 | 10,653 | 6,680 | 8,822 | 8,725 | 8,629 | 8,334 | 8,562 | - | 6,529 | 8,454 | 8,176 | |
44 |
1,811 | 1,605 | 677 | 1,688 | 968 | 1,028 | 345 | 2,772 | 2,805 | 2,301 | 11,579 | 1,000 | 1,401 | 1,803 | |
440/4 |
1,811 | 1,605 | 677 | 1,688 | 968 | 1,028 | 345 | 2,772 | 2,805 | 2,301 | 11,579 | 1,000 | 1,401 | 1,803 | |
45 |
19,906 | 11,047 | 11,473 | 9,130 | 10,174 | 10,067 | 9,565 | 1,636 | 5,411 | 1,156 | 1,758 | 2,936 | 49 | 15,025 | |
450/3 |
19,906 | 11,047 | 11,473 | 9,130 | 7,643 | 10,067 | 9,565 | 1,636 | 5,411 | 1,156 | 1,758 | 2,936 | 49 | 15,025 | |
454/9 |
- | - | - | - | 2,530 | - | - | - | - | - | - | - | - | - | |
47/48 |
105,884 | 17,335 | 10,235 | 7,257 | 5,907 | 6,857 | 955 | 1,229 | 1,228 | 1,216 | 1,327 | 1,798 | 1,326 | 2,655 | |
492/3 |
198 | 186 | 150 | 56 | - | - | - | - | - | - | - | - | 2,050 | - | |
| Income statement | |||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | - | - | - | - | 4,272 | |
9900 |
91,870 | 74,712 | 78,766 | 66,730 | 44,079 | 65,003 | 56,695 | 41,098 | 43,683 | 41,520 | 35,135 | 22,395 | 28,819 | 62,763 | |
630 |
23,212 | 24,833 | 23,492 | 10,622 | 20,062 | 20,042 | 20,590 | 20,004 | 21,445 | 19,799 | 16,884 | 11,620 | 10,131 | 13,928 | |
640/8 |
1,301 | 1,123 | 1,090 | 3,877 | 964 | 879 | 1,888 | 1,473 | 1,023 | 1,281 | 1,098 | 1,052 | 490 | 1,555 | |
66A |
- | - | - | - | - | - | - | - | 5 | - | - | 409 | - | - | |
9901 |
67,357 | 48,756 | 54,183 | 52,231 | 23,054 | 44,082 | 34,217 | 19,621 | 21,210 | 20,440 | 17,153 | 9,723 | 18,198 | 47,280 | |
75/76B |
1,835 | 2,048 | 1,187 | 398 | 360 | 325 | 352 | 312 | 281 | 292 | 435 | 612 | 591 | 209 | |
75 |
1,835 | 2,048 | 1,187 | 398 | 360 | 325 | 352 | 312 | 281 | 292 | 435 | 612 | 591 | 209 | |
65/66B |
1,243 | 1,192 | 1,603 | 413 | 223 | 308 | 396 | 1,254 | 73 | 2,898 | 198 | 566 | 721 | 1,296 | |
65 |
1,243 | 1,192 | 1,603 | 413 | 223 | 308 | 396 | 1,254 | 73 | 425 | 198 | 566 | 721 | 1,296 | |
66B |
- | - | - | - | - | - | - | - | - | 2,473 | - | - | - | - | |
9903 |
67,949 | 49,613 | 53,768 | 52,216 | 23,191 | 44,099 | 34,173 | 18,679 | 21,418 | 17,834 | 17,390 | 9,360 | 18,068 | 50,465 | |
67/77 |
19,710 | 14,693 | 15,581 | 19,020 | 9,056 | 16,674 | 16,865 | 6,159 | 5,586 | 4,622 | 3,068 | 3,472 | 120 | 12,629 | |
9904 |
48,239 | 34,919 | 38,186 | 33,196 | 14,135 | 27,425 | 17,308 | 12,520 | 15,832 | 13,212 | 14,322 | 5,888 | 17,948 | 37,836 | |
789 |
- | - | - | - | 6,885 | 23,115 | - | - | - | - | - | - | - | - | |
689 |
- | - | - | - | - | - | - | - | 7,500 | 6,000 | 7,000 | 2,500 | 8,500 | 12,000 | |
9905 |
48,239 | 34,919 | 38,186 | 33,196 | 21,020 | 50,540 | 17,308 | 12,520 | 8,332 | 7,212 | 7,322 | 3,388 | 9,448 | 25,836 | |
| Appropriation of the result | |||||||||||||||
9906 |
90,791 | 77,471 | 80,738 | 75,748 | 63,572 | 93,052 | 59,512 | 52,204 | 46,683 | 45,051 | 44,139 | 36,817 | 33,429 | 25,836 | |
14P |
42,552 | 42,552 | 42,552 | 42,552 | 42,552 | - | - | - | - | - | - | - | - | - | |
791/2 |
104,717 | 17,000 | 10,000 | 7,000 | 6,000 | 7,000 | - | - | - | - | - | - | - | - | |
691/2 |
48,239 | 34,919 | 38,186 | 33,196 | 21,020 | 50,500 | 17,000 | 10,000 | 7,000 | 6,700 | 6,300 | - | - | 1,855 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 1,855 | |
6921 |
48,239 | 34,919 | 38,186 | 33,196 | 21,020 | 50,500 | 17,000 | 10,000 | 7,000 | 6,700 | 6,300 | - | - | - | |
694/7 |
105,550 | 17,000 | 10,000 | 7,000 | 6,000 | 7,000 | - | - | - | - | - | - | - | - | |
694 |
105,550 | 17,000 | 10,000 | 7,000 | 6,000 | 7,000 | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2026 at the NBB, filed on 22-09-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 22-09-2026 | 2026-00531572 | |
| 31-03-2025 | micro format | 08-09-2025 | 2025-00491740 | |
| 31-03-2024 | micro format | 01-10-2024 | 2024-00499957 | |
| 31-03-2023 | micro format | 12-09-2023 | 2023-00445432 | |
| 31-03-2022 | micro format | 07-10-2022 | 2022-20461039 | |
| 31-03-2021 | micro format | 15-09-2021 | 2021-67600043 | |
| 31-03-2020 | micro format | 29-10-2020 | 2020-66500107 | |
| 31-03-2019 | micro format | 30-10-2019 | 2019-72200580 | |
| 31-03-2018 | micro format | 29-09-2018 | 2018-67600333 | |
| 31-03-2017 | micro format | 26-10-2017 | 2017-68100110 | |
| 31-03-2016 | full format | 30-09-2016 | 2016-64200493 | |
| 31-03-2015 | full format | 07-10-2015 | 2015-64500268 | |
| 31-03-2014 | full format | 25-09-2014 | 2014-61000218 | |
| 31-03-2013 | full format | 19-10-2013 | 2013-63500080 |
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 90,569 | 73,590 | 77,675 | 62,853 | 43,115 | 64,124 | 54,807 | 39,625 | 42,655 | 40,239 | 34,037 | 21,343 | 28,329 | 61,208 | ||
| 71,451 | 59,752 | 61,678 | 43,818 | 34,197 | 47,467 | 37,898 | 32,524 | 37,277 | 33,011 | 31,206 | 17,508 | 28,079 | 51,764 | ||
| 17,997 | 4,539 | 8,503 | 80,942 | 2,815 | 23,115 | 5,140 | 47,767 | 11,383 | 59,558 | 45,836 | 9,619 | 4,282 | 40,776 | ||
| 8,645 | 22,604 | 38,163 | 41,907 | 7,377 | 20,514 | 7,953 | 29,102 | 14,407 | 5,049 | -37,895 | 11,686 | 1,242 | - | ||
| 121,284 | 184,289 | 157,530 | 125,325 | 126,452 | 107,751 | 99,221 | 75,189 | 49,062 | 31,433 | 34,371 | 48,613 | 48,893 | 31,500 | ||
| 57.1% | 82.1% | 80.0% | 75.9% | 87.7% | 82.8% | 80.1% | 76.3% | 79.3% | 74.5% | 84.9% | 84.7% | 75.8% | 50.8% | ||
| 1.88 | 5.44 | 5.71 | 5.36 | 6.33 | 5.02 | 6.06 | 6.27 | 3.76 | 3.37 | 3.34 | 4.96 | 5.35 | 2.14 | ||
| 0.75 | 0.22 | 0.25 | 0.32 | 0.14 | 0.21 | 0.25 | 0.31 | 0.26 | 0.34 | 0.18 | 0.18 | 0.32 | 0.97 | ||
| 26.1% | 14.4% | 17.0% | 17.0% | 8.3% | 17.0% | 12.3% | 10.1% | 14.2% | 13.8% | 17.4% | 8.7% | 29.0% | 85.9% | ||
| 14.9% | 11.9% | 13.6% | 12.9% | 7.3% | 14.1% | 9.8% | 7.7% | 11.3% | 10.3% | 14.8% | 7.3% | 21.9% | 43.7% | ||
| 72.87 | 61.74 | 48.46 | over 100 | over 100 | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-03-2026 | 31-03-2025 | 31-03-2024 | 31-03-2023 | 31-03-2022 |
|---|---|---|---|---|---|
| Tangible fixed assets | €17,997 | €4,539 | €8,503 | €80,942 | €2,815 |
| €23,212 | €24,833 | €23,492 | €10,622 | €20,062 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
The operating result for 2026 is 38% higher than in 2025 and the highest since 2013. It is a recovery after the fall in 2025.
Debt's share of the balance-sheet total rises from 17.9% to 42.9%. Equity is lower and debt is higher.
Correlation has no parent and no holdings in its annual accounts. is the only director. Correlation shares no director with another company.
Deadline for the 2027 accounts: 31-10-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue Derrière les Haies 49 registered office 4280 Hannut | 19-09-2011 | 2.202.222.771 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 64051B0102/00V000 | 882 m² | 1 · 74 m² | 7.0 m · 2 |
If something looks wrong or is missing, please tell us.