CORTEX
ActiveSummary
For CORTEX, one filing cycle of the annual accounts is missing. The 2024 annual accounts show equity of €63,501 and a net result of €15,096. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 18% of 37951 sector peers (fiscal year 2024). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
No current score
Figures too old
The available figures for FY 2024 are too old to assess current financial health.
Filing: One filing cycle is missing
Axes, FY 2024 · tick = 2023
Profitability65▼-3
Solvency41▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
15.9%
Return on assets
3.8%
Age of the figures
30 mo
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 · Annual accounts not filed
The financial year that closed on 31-03-2025 was due at the National Bank by 31-10-2025. Nothing is on record, 330 days later.
NBB · 10 filingsPosition against the passed deadline
31-03-2025 close31-10-2025 deadline26-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2024 was due by 31-10-2024 and was filed on 30-10-2024, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
1 d early
2023
128 d late
2022
51 d late
2021
416 d late
2020
538 d late
2019
551 d late
← 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 281 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€63,501▲ 31.2%
2023 · €48,405
Total assets
€399,524▲ 25.5%
2023 · €318,253
Net result
€15,096▲ 1,368%
2023 · €1,029
Working capital
-€59,325▲ 0.4%
2023 · -€59,548
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€51,982▼ 19.9%€51,632▼ 0.7%€44,322▼ 14.2%€20,242▼ 54.3%€31,463▲ 55.4%
Net result€39,991▲ 11.1%€40,565▲ 1.4%€25,370▼ 37.5%€1,029▼ 95.9%€15,096▲ 1,368%
Equity€45,443=€46,007▲ 1.2%€47,377▲ 3.0%€48,405▲ 2.2%€63,501▲ 31.2%
Total assets€375,425▲ 6.7%€389,627▲ 3.8%€357,532▼ 8.2%€318,253▼ 11.0%€399,524▲ 25.5%
Debt€325,023▲ 7.9%€338,790▲ 4.2%€305,455▼ 9.8%€265,277▼ 13.2%€331,582▲ 25.0%
Working capital-€49,789▲ 24.3%-€63,224▼ 27.0%-€70,600▼ 11.7%-€59,548▲ 15.7%-€59,325▲ 0.4%
Staff (FTE)
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 55% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €399,524
Fixed assets
€231,603 ▼ 5.5%
Current assets
€167,921 ▲ 130%
Equity and liabilities €399,524
Equity
€63,501 ▲ 31.2%
Provisions
€4,441 ▼ 2.8%
Debt
€331,582 ▲ 25.0%
Debt's share of the balance-sheet total falls from 83.4% to 83.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€46,196▲
2023 · €35,789
Cash flow
€29,829▲
2023 · €16,575
Current ratio
0.74▲
2023 · 0.55
Debt to equity
5.22▼
2023 · 5.48
ROE
23.8%▲
2023 · 2.1%
ROA
3.8%▲
2023 · 0.3%
Interest coverage
4.94▼
2023 · 5.92
Debt ≤ 1 year
€227,246▲
2023 · €132,694
Debt > 1 year
€102,824▼
2023 · €130,871
Income taxes
€7,139▼
2023 · €13,293
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | €1 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,223 | €16,841 | €17,518 | €15,546 | €14,733 | ▼ 5.2% |
| Other operating charges640/8 | €5,335 | €1,020 | €5,470 | €4,034 | €9,340 | ▲ 132% |
| Non-recurring operating charges66A | €880 | - | €7 | €2,176 | - | - |
| Gross operating margin9900 | €76,420 | €69,493 | €67,317 | €41,999 | €55,536 | ▲ 32.2% |
| Operating profit (loss)9901 | €51,982 | €51,632 | €44,322 | €20,242 | €31,463 | ▲ 55.4% |
| Financial income75/76B | €70 | - | - | - | - | - |
| Recurring financial income75 | €70 | - | - | - | - | - |
| Financial charges65/66B | €9,495 | €8,300 | €7,456 | €6,050 | €9,358 | ▲ 54.7% |
| Recurring financial charges65 | €9,495 | €8,063 | €7,456 | €6,050 | €9,358 | ▲ 54.7% |
| Non-recurring financial charges66B | - | €237 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €42,556 | €43,333 | €36,866 | €14,192 | €22,105 | ▲ 55.8% |
| Transfer from deferred taxes780 | €130 | €130 | €130 | €130 | €130 | = |
| Income taxes67/77 | €2,695 | €2,898 | €11,626 | €13,293 | €7,139 | ▼ 46.3% |
| Profit (loss) for the period9904 | €39,991 | €40,565 | €25,370 | €1,029 | €15,096 | ▲ 1,368% |
| Transfer from tax-exempt reserves789 | €252 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €40,243 | €40,565 | €25,370 | €1,029 | €15,096 | ▲ 1,368% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €375,425 | €389,627 | €357,532 | €318,253 | €399,524 | ▲ 25.5% |
| Fixed assets21/28 | €310,697 | €298,171 | €280,653 | €245,107 | €231,603 | ▼ 5.5% |
| Tangible fixed assets22/27 | €290,697 | €278,171 | €260,653 | €245,107 | €231,603 | ▼ 5.5% |
| Land and buildings22 | €290,314 | €274,156 | €258,174 | €244,164 | €230,204 | ▼ 5.7% |
| Furniture and vehicles24 | €383 | €4,015 | €2,479 | €943 | €1,399 | ▲ 48.4% |
| Financial fixed assets28 | €20,000 | €20,000 | €20,000 | - | - | - |
| Current assets29/58 | €64,728 | €91,456 | €76,879 | €73,146 | €167,921 | ▲ 130% |
| Amounts receivable within one year40/41 | €29,000 | €54,891 | €64,000 | €54,598 | €45,891 | ▼ 15.9% |
| Other amounts receivable41 | €29,000 | €54,891 | €64,000 | €54,598 | €45,891 | ▼ 15.9% |
| Cash at bank and in hand54/58 | €34,981 | €36,565 | €12,878 | €18,548 | €122,031 | ▲ 558% |
| Deferred charges and accrued income490/1 | €747 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €375,425 | €389,627 | €357,532 | €318,253 | €399,524 | ▲ 25.5% |
| Equity10/15 | €45,443 | €46,007 | €47,377 | €48,405 | €63,501 | ▲ 31.2% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | €20,000 | - | - | - | - | - |
| Issued capital100 | €20,000 | - | - | - | - | - |
| Outside capital11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Other1109/19 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €11,631 | €11,631 | €11,631 | €11,217 | €10,803 | ▼ 3.7% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Legal reserve130 | €2,000 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Tax-exempt reserves132 | €9,631 | €9,631 | €9,631 | €9,217 | €8,803 | ▼ 4.5% |
| Profit (loss) carried forward14 | €13,812 | €14,376 | €15,746 | €17,189 | €32,699 | ▲ 90.2% |
| Provisions and deferred taxes16 | €4,959 | €4,829 | €4,700 | €4,570 | €4,441 | ▼ 2.8% |
| Deferred taxes168 | €4,959 | €4,829 | €4,700 | €4,570 | €4,441 | ▼ 2.8% |
| Amounts payable17/49 | €325,023 | €338,790 | €305,455 | €265,277 | €331,582 | ▲ 25.0% |
| Amounts payable after more than one year17 | €209,309 | €184,110 | €157,976 | €130,871 | €102,824 | ▼ 21.4% |
| Financial debts170/4 | €209,309 | €184,110 | €157,976 | €130,871 | €102,824 | ▼ 21.4% |
| Amounts payable within one year42/48 | €114,517 | €154,680 | €147,479 | €132,694 | €227,246 | ▲ 71.3% |
| Current portion of amounts payable after more than one year42 | €24,297 | €25,198 | €26,134 | €27,105 | €28,266 | ▲ 4.3% |
| Trade debts44 | €5,627 | €23,630 | €6,033 | €8,133 | €13,855 | ▲ 70.3% |
| Suppliers440/4 | €5,627 | €23,630 | €6,033 | €8,133 | €13,855 | ▲ 70.3% |
| Taxes, remuneration and social security45 | €8,900 | €5,641 | €10,718 | €9,420 | €15,970 | ▲ 69.5% |
| Taxes450/3 | €8,900 | €5,641 | €10,718 | €9,420 | €15,970 | ▲ 69.5% |
| Other amounts payable47/48 | €75,693 | €100,211 | €104,593 | €88,037 | €169,156 | ▲ 92.1% |
| Accrued charges and deferred income492/3 | €1,198 | - | - | €1,712 | €1,511 | ▼ 11.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,991 | €40,565 | €25,370 | €1,029 | €15,096 | ▲ 1,368% |
| + Depreciation and write-downs630 | €18,223 | €16,841 | €17,518 | €15,546 | €14,733 | ▼ 5.2% |
| Operating cash flow (approximation) | €58,214 | €57,406 | €42,887 | €16,575 | €29,829 | ▲ 80.0% |
| Investment in fixed assets (approximation) | - | -€4,315 | €0 | €20,000 | -€1,229 | ▼ 106% |
| Change in cash | - | €1,584 | -€23,687 | €5,669 | €103,483 | ▲ 1,725% |
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
2024
30-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
07-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 128 days late
2023
31-03
Financial
Weakest financial yearnet €1,029 ▼95.9%
Net result drops to €1,029, the lowest in the series; recovery starts the following year.
2022
21-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 51 days late
21-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 416 days late
22-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 538 days late
2021
04-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 551 days late
31-03
Financial
Highest result since 2019net €40,565 ▲1.4%
Net result €40,565, the highest in the series.
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 208 days late
2017
13-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
22-01
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2014
30-12
NBB filing
Annual accounts filed
fiscal year 2014 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 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, Manage · 1 establishment unit since 2012
Ground area
396 m²
Building footprint
76 m²
Volume, LiDAR
644 m³
Parcel 52019B0302/00S004, Wallonia · tallest building 10.2 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue de la Paix 23, 7170 Manage
since 20122.221.390.367
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52019B0302/00S004 | Wallonia | 396 m² | 1 · 75 m² | 10.2 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,632 companies in sector 70200 we hold annual accounts for 52,587. 39,241 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 (pre-2019)
Founded06-03-2012
Fiscal year end31-03
Activities, NACEBEL 2025
70200Business and other management consultancy
Scores and ratios are computed by Checked and are not a credit decision.