Equity
Cortex Engineering has made a profit without a break since 2022.
Cortex Engineering has made a profit without a break since 2022.
The micro format states no turnover.
Of this, €174,945 falls due within a year.
The 2018 accounts came 24 days late. The other seven were filed on time.
Larger balance sheet than 90% of companies in head offices and management consultancy. Sector median €180,607 · 41,232 companies.
In July 2024, 2,372 companies had the same profile as Cortex Engineering has now. Each dot stands for 6 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 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 2,372 companies, not a prediction for Cortex Engineering. 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 | ||||
|---|---|---|---|---|
| Cortex Engineering Heist-op-den-Berg | €1.1m | €114,619 | 23.2% | - |
| R. WUYTS Turnhout | €1.1m | €116,901 | 26.5% | - |
| ENVISION Willebroek | €1.1m | €109,946 | 16.2% | - |
| Gilgamesh Lier | €1.1m | €130,279 | 35.1% | - |
| Bastien Kalmthout | €1.2m | €132,405 | 22.3% | 0 |
| GROUP-Z Antwerp | €1.0m | €97,063 | 26.9% | - |
| AMMOVEO CONSULTING Antwerp | €0.9m | €114,094 | 88.5% | - |
These companies have the same main activity as Cortex Engineering: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €903,000 and €1.2m, founded between 2017 and 2018.
Cortex Engineering files the micro format. That format states no turnover. The gross margin fell from €198,026 in 2018 to €114,619 in 2025.
The balance sheet grew most from 2019 to 2021 through fixed assets, financed with long-term debt.
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 ≈ €190,000. Estimated: probably between €160,000 and €230,000.
Higher than 25% of 41,211 companies in 2025.
Lower than 95% of 39,782 companies in 2025.
Higher than 26% of 40,303 companies in 2025.
Net result: middle half · Equity: top quarter · Balance sheet total: top quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
1.1m | 1.1m | 1.2m | 1.2m | 1.2m | 977,539 | 680,387 | 587,240 | |
21/28 |
1.1m | 1.1m | 1.2m | 1.2m | 1.2m | 942,340 | 609,982 | 484,860 | |
22/27 |
1.1m | 1.1m | 1.2m | 1.2m | 1.2m | 897,338 | 566,711 | 442,780 | |
22 |
1.1m | 1.1m | 1.1m | 1.2m | 1.2m | 866,774 | 536,017 | 420,500 | |
23 |
13,707 | 18,156 | 22,613 | 27,071 | 31,528 | 30,564 | 30,694 | 22,280 | |
28 |
- | - | - | - | - | 45,002 | 43,271 | 42,080 | |
29/58 |
29,550 | 4,972 | 2,890 | 18,487 | 8,013 | 35,199 | 70,405 | 102,380 | |
40/41 |
28,203 | 0 | 259 | 16,399 | 2,478 | 27,830 | 27,830 | 67,211 | |
40 |
27,625 | - | 0 | 15,000 | 2,478 | 27,830 | 27,830 | 32,830 | |
41 |
578 | 0 | 259 | 1,399 | - | - | - | 34,381 | |
54/58 |
- | - | - | - | - | 6,667 | 38,975 | 35,169 | |
490/1 |
1,347 | 4,972 | 2,631 | 2,088 | 5,536 | 702 | 3,600 | - | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
1.1m | 1.1m | 1.2m | 1.2m | 1.2m | 977,539 | 680,387 | 587,240 | |
10/15 |
256,615 | 228,366 | 219,716 | 185,616 | 171,583 | 213,522 | 168,476 | 91,657 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | |
13 |
231,812 | 203,572 | 194,922 | 194,922 | 194,922 | 194,922 | 149,876 | 73,057 | |
130/1 |
0 | 1,860 | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | |
1311 |
0 | 1,860 | - | - | - | - | - | - | |
133 |
231,812 | 201,712 | 194,922 | 194,922 | 194,922 | 194,922 | 148,016 | 71,197 | |
14 |
6,204 | 6,194 | 6,194 | -27,906 | -41,939 | - | - | - | |
17/49 |
849,264 | 898,267 | 944,531 | 1.0m | 1.1m | 764,017 | 511,910 | 495,583 | |
17 |
674,319 | 747,603 | 769,854 | 831,017 | 890,926 | 589,173 | 324,490 | 348,000 | |
170/4 |
674,319 | 747,603 | 769,854 | 831,017 | 890,926 | 589,173 | 324,490 | 348,000 | |
42/48 |
174,945 | 150,663 | 174,328 | 208,211 | 164,360 | 174,844 | 187,421 | 147,583 | |
42 |
76,664 | 74,822 | 61,164 | 59,909 | 58,679 | 20,589 | 102,185 | - | |
43 |
19,278 | 17,766 | 13,268 | 11,168 | 1,620 | - | - | - | |
430/8 |
19,278 | 17,766 | 13,268 | 11,168 | 1,620 | - | - | - | |
44 |
4,222 | 7,907 | 1,040 | 2,886 | 134 | 87,900 | 1,395 | 80,373 | |
440/4 |
4,222 | 7,907 | 1,040 | 2,886 | 134 | 87,900 | 1,395 | 80,373 | |
46 |
- | 0 | 6,000 | 18,150 | - | - | - | - | |
45 |
31,158 | 18,460 | 23,015 | 61,078 | 55,684 | 30,414 | 47,712 | 67,210 | |
450/3 |
25,484 | 13,287 | 23,015 | 61,078 | 55,684 | 30,414 | 47,712 | 67,210 | |
454/9 |
5,674 | 5,173 | - | - | - | - | - | - | |
47/48 |
43,624 | 31,708 | 69,841 | 55,020 | 48,241 | 35,940 | 36,129 | - | |
492/3 |
- | 0 | 350 | - | - | - | - | - | |
| Income statement | |||||||||
9900 |
114,619 | 87,843 | 111,409 | 90,699 | 22,717 | 100,456 | 180,463 | 198,026 | |
630 |
45,333 | 45,166 | 45,000 | 44,186 | 37,734 | 26,449 | 18,588 | 15,431 | |
640/8 |
3,965 | 9,248 | 4,139 | 9,293 | 775 | 181 | 44,013 | 63,637 | |
9901 |
65,322 | 33,429 | 62,269 | 37,219 | -15,792 | 73,826 | 117,862 | 118,959 | |
75/76B |
- | - | - | - | - | 2,158 | 2,065 | - | |
75 |
- | - | - | - | - | 2,158 | 2,065 | - | |
65/66B |
21,002 | 19,819 | 22,624 | 22,622 | 26,147 | 13,043 | 11,925 | 1,019 | |
65 |
21,002 | 19,819 | 22,624 | 22,622 | 26,147 | 13,043 | 11,925 | 1,019 | |
9903 |
44,319 | 13,610 | 39,646 | 14,597 | -41,939 | 62,940 | 108,002 | 117,939 | |
67/77 |
16,070 | 4,959 | 5,546 | 564 | - | 17,894 | 31,182 | 44,882 | |
9904 |
28,249 | 8,650 | 34,100 | 14,033 | -41,939 | 45,046 | 76,820 | 73,057 | |
9905 |
28,249 | 8,650 | 34,100 | 14,033 | -41,939 | 45,046 | 76,820 | 73,057 | |
| Appropriation of the result | |||||||||
9906 |
34,444 | 14,844 | 6,194 | -27,906 | -41,939 | 45,046 | 76,820 | 73,057 | |
14P |
6,194 | 6,194 | -27,906 | -41,939 | - | - | - | - | |
691/2 |
28,240 | 8,650 | - | - | - | 45,046 | 76,820 | 73,057 | |
6920 |
- | - | - | - | - | - | - | 1,860 | |
6921 |
28,240 | 8,650 | - | - | - | 45,046 | 76,820 | 71,197 | |
| Document | |||||||||
The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 11-03-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 11-03-2026 | 2026-00052096 | |
| 30-09-2024 | micro format | 27-03-2025 | 2025-00055554 | |
| 30-09-2023 | micro format | 29-02-2024 | 2024-00037000 | |
| 30-09-2022 | micro format | 28-04-2023 | 2023-00070745 | |
| 30-09-2021 | micro format | 29-04-2022 | 2022-20014096 | |
| 30-09-2020 | micro format | 30-04-2021 | 2021-13100161 | |
| 30-09-2019 | micro format | 31-03-2020 | 2020-08700025 | |
| 30-09-2018 | micro format | 24-05-2019 | 2019-15100498 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| 110,655 | 78,595 | 107,270 | 81,405 | 21,942 | 100,274 | 136,450 | 134,390 | ||
| 73,582 | 53,817 | 79,100 | 58,219 | -4,205 | 71,494 | 95,408 | 88,488 | ||
| 23,426 | 5,471 | 0 | 31,688 | 359,251 | 358,807 | 143,710 | 500,291 | ||
| - | - | - | - | - | -32,308 | 3,806 | - | ||
| -145,395 | -145,692 | -171,438 | -189,724 | -156,346 | -139,645 | -117,016 | -45,203 | ||
| 23.2% | 20.3% | 18.9% | 15.2% | 14.0% | 21.8% | 24.8% | 15.6% | ||
| 0.17 | 0.03 | 0.02 | 0.09 | 0.05 | 0.20 | 0.38 | 0.69 | ||
| 3.31 | 3.93 | 4.30 | 5.60 | 6.15 | 3.58 | 3.04 | 5.41 | ||
| 11.0% | 3.8% | 15.5% | 7.6% | -24.4% | 21.1% | 45.6% | 79.7% | ||
| 2.6% | 0.8% | 2.9% | 1.1% | -3.4% | 4.6% | 11.3% | 12.4% | ||
| 5.27 | 3.97 | 4.74 | 3.60 | 0.84 | - | - | - |
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 | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €23,426 | €5,471 | - | €31,688 | €359,251 |
| €45,333 | €45,166 | €45,000 | €44,186 | €37,734 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 95% higher than in 2024 and the highest since 2020. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 79.7% to 76.8%. Equity is higher and debt is lower.
Cortex Engineering has no parent and no holdings in its annual accounts. is the only director. Cortex Engineering shares no director with another company.
Deadline for the 2026 accounts: 30-04-2027
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 |
|---|---|---|
| Lenkestraat 21 registered office 2222 Heist-op-den-Berg | 25-07-2017 | 2.268.051.822 |
| 03-01-2019 | Granted | Bouwen of herbouwen; Slopen of verwijderen; Verwijderen van vrijstaande bijgebouwen, niet-overdekte lage constructies of andere beperkte handelingen; Verwijderen van vrijstaande gebouwen submitted 27-08-2018 · project 2018102461 | Heist-op-den-Berg |
| 28-08-2018 | Discontinued | Bouwen of herbouwen; Slopen of verwijderen; Verwijderen van vrijstaande gebouwen submitted 07-07-2018 · project 2018069660 | Heist-op-den-Berg |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 12017D0003/00D000 | 5,565 m² | 1 · 159 m² | 10.2 m · 2 |
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