Corvo
ActiveSummary
The computed 12-month bankruptcy probability of Corvo is 1.6% (moderate). The 2025 annual accounts show negative equity (-€388,402) and a net result of €7,715. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 5% of 1885 sector peers (fiscal year 2025). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability39▲+39
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.18 against 0.26 in 2024; short-term debt: 420.1% and cash: 6.2% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more 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 2025Solvency, return and age of the figures
Solvency
-322.1%
Return on assets
6.4%
Age of the figures
9 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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 1885 sector peers (2025).
NBB · sector comparisonPosition among 1885 sector peers
Solvency
better than 5%
← weakest
strongest →
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 20-07-2026, 11 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
11 d early
2024
16 d early
2023
7 d late
2022
51 d late
2021
92 d late
2020
31 d late
2019
2 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 22 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 8 August (4 of the last 5 filed years within 43 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€388,402▲ 1.9%
2024 · -€396,118
Total assets
€120,579▼ 29.0%
2024 · €169,847
Net result
€7,715
2024 · -€138,941
Working capital
-€413,498▼ 7.3%
2024 · -€385,356
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€24,451-€93,880▼ 284%-€107,077▼ 14.1%-€108,258▼ 1.1%€41,816
Net result-€37,993below the sector's middle half▼ 92.2%-€116,638below the sector's middle half▼ 207%-€159,319below the sector's middle half▼ 36.6%-€138,941below the sector's middle half▲ 12.8%€7,715within the sector's middle half
Equity€18,780within the sector's middle half▼ 66.9%-€97,858below the sector's middle half-€257,177below the sector's middle half▼ 163%-€396,118below the sector's middle half▼ 54.0%-€388,402below the sector's middle half▲ 1.9%
Total assets€474,525above the sector's middle half▲ 66.1%€436,247above the sector's middle half▼ 8.1%€228,472below the sector's middle half▼ 47.6%€169,847below the sector's middle half▼ 25.7%€120,579below the sector's middle half▼ 29.0%
Debt€455,744▲ 99.1%€534,106▲ 17.2%€485,649▼ 9.1%€565,965▲ 16.5%€508,981▼ 10.1%
Working capital€46,653within the sector's middle half▼ 13.2%-€62,288below the sector's middle half-€214,405below the sector's middle half▼ 244%-€385,356below the sector's middle half▼ 79.7%-€413,498below the sector's middle half▼ 7.3%
Solvency4.0%below the sector's middle half▼ 15.9pp-22.4%below the sector's middle half▼ 26.4pp-112.6%below the sector's middle half▼ 90.1pp-233.2%below the sector's middle half▼ 120.7pp-322.1%below the sector's middle half▼ 88.9pp
Current ratio1.12within the sector's middle half▼ 0.160.87within the sector's middle half▼ 0.250.47below the sector's middle half▼ 0.400.26below the sector's middle half▼ 0.210.18below the sector's middle half▼ 0.07
Return on assets (ROA)-8.0%below the sector's middle half▼ 1.1pp-26.7%below the sector's middle half▼ 18.7pp-69.7%below the sector's middle half▼ 43.0pp-81.8%below the sector's middle half▼ 12.1pp6.4%within the sector's middle half▲ 88.2pp
Staff (FTE)6.7▲ 4.7%5.6▼ 16.4%4within the sector's middle half▼ 28.6%1.3below the sector's middle half▼ 67.5%
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €41,816 after a loss of €108,258 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €120,579
Fixed assets
€27,553 ▼ 24.7%
Current assets
€93,026 ▼ 30.2%
Key figures and ratios
EBITDA
€50,864▲
2024 · -€97,874
Cash flow
€16,763▲
2024 · -€128,557
Quick ratio
0.05▼
2024 · 0.16
Debt to equity
-1.31▲
2024 · -1.43
Interest coverage
1.46▲
2024 · -2.62
Debt ≤ 1 year
€506,524▼
2024 · €518,602
Income taxes
-€361▼
2024 · €361
Staff costs
€361▼
2024 · €59,608
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,640 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
4.9%
stopped otherwise
92%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,640 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €10,750 | €39,114 | - | - | - | - |
| Remuneration, social security and pensions62 | €243,873 | €196,970 | €144,924 | €59,608 | €361 | ▼ 99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €11,176 | €6,970 | €6,603 | €10,384 | €9,048 | ▼ 12.9% |
| Other operating charges640/8 | €3,989 | €14,736 | €3,056 | €1,383 | €706 | ▼ 49.0% |
| Non-recurring operating charges66A | €7,256 | - | €439 | €423 | - | - |
| Gross operating margin9900 | €241,843 | €124,795 | €47,945 | -€36,459 | €51,931 | ▲ 242% |
| Operating profit (loss)9901 | -€24,451 | -€93,880 | -€107,077 | -€108,258 | €41,816 | ▲ 139% |
| Financial income75/76B | €364 | €442 | €698 | €7,028 | €479 | ▼ 93.2% |
| Recurring financial income75 | €364 | €442 | €698 | €1,510 | €479 | ▼ 68.3% |
| Non-recurring financial income76B | - | - | - | €5,518 | - | - |
| Financial charges65/66B | €12,256 | €23,200 | €52,461 | €37,350 | €34,940 | ▼ 6.5% |
| Recurring financial charges65 | €12,256 | €23,200 | €50,754 | €37,350 | €34,940 | ▼ 6.5% |
| Non-recurring financial charges66B | - | - | €1,707 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€36,343 | -€116,638 | -€158,841 | -€138,580 | €7,354 | ▲ 105% |
| Income taxes67/77 | €1,650 | - | €478 | €361 | -€361 | ▼ 200% |
| Profit (loss) for the period9904 | -€37,993 | -€116,638 | -€159,319 | -€138,941 | €7,715 | ▲ 106% |
| Transfer from tax-exempt reserves789 | €11,000 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€26,993 | -€116,638 | -€159,319 | -€138,941 | €7,715 | ▲ 106% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €474,525 | €436,247 | €228,472 | €169,847 | €120,579 | ▼ 29.0% |
| Fixed assets21/28 | €33,038 | €16,161 | €38,934 | €36,601 | €27,553 | ▼ 24.7% |
| Intangible fixed assets21 | - | - | €2,563 | €1,644 | €725 | ▼ 55.9% |
| Tangible fixed assets22/27 | €30,768 | €13,890 | €29,501 | €28,087 | €19,958 | ▼ 28.9% |
| Plant, machinery and equipment23 | €6,061 | €3,218 | €16,340 | €16,307 | €9,976 | ▼ 38.8% |
| Furniture and vehicles24 | €22,458 | €9,058 | €5,472 | €3,334 | €2,545 | ▼ 23.6% |
| Other tangible fixed assets26 | €2,249 | €1,614 | €7,688 | €8,447 | €7,436 | ▼ 12.0% |
| Financial fixed assets28 | €2,270 | €2,270 | €6,870 | €6,870 | €6,870 | = |
| Current assets29/58 | €441,486 | €420,087 | €189,538 | €133,246 | €93,026 | ▼ 30.2% |
| Stocks and contracts in progress3 | €137,110 | €50,164 | €22,166 | €48,900 | €66,000 | ▲ 35.0% |
| Stocks30/36 | €137,110 | €50,164 | €22,166 | €48,900 | €66,000 | ▲ 35.0% |
| Amounts receivable within one year40/41 | €257,544 | €243,943 | €131,751 | €81,848 | €19,024 | ▼ 76.8% |
| Trade receivables40 | €251,444 | €240,743 | €116,118 | €77,528 | €14,142 | ▼ 81.8% |
| Other amounts receivable41 | €6,100 | €3,200 | €15,633 | €4,320 | €4,882 | ▲ 13.0% |
| Current investments50/53 | €29,622 | €29,622 | €25,000 | - | - | - |
| Cash at bank and in hand54/58 | €8,993 | €75,487 | €2,126 | €2,498 | €7,531 | ▲ 201% |
| Deferred charges and accrued income490/1 | €8,218 | €20,870 | €8,496 | - | €471 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €474,525 | €436,247 | €228,472 | €169,847 | €120,579 | ▼ 29.0% |
| Equity10/15 | €18,780 | -€97,858 | -€257,177 | -€396,118 | -€388,402 | ▲ 1.9% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €77,912 | €77,912 | €77,912 | €76,052 | €76,052 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | €76,052 | €76,052 | €77,912 | €76,052 | €76,052 | = |
| Profit (loss) carried forward14 | -€77,731 | -€194,370 | -€353,689 | -€490,769 | -€483,054 | ▲ 1.6% |
| Amounts payable17/49 | €455,744 | €534,106 | €485,649 | €565,965 | €508,981 | ▼ 10.1% |
| Amounts payable after more than one year17 | €40,898 | €31,368 | €81,706 | €45,248 | - | - |
| Financial debts170/4 | €40,898 | €31,368 | €81,706 | €45,248 | - | - |
| Amounts payable within one year42/48 | €394,833 | €482,375 | €403,943 | €518,602 | €506,524 | ▼ 2.3% |
| Current portion of amounts payable after more than one year42 | €9,102 | €9,531 | €24,132 | €42,233 | €50,344 | ▲ 19.2% |
| Financial debts43 | €5,296 | €5,209 | €7,375 | €8,240 | €25,872 | ▲ 214% |
| Credit institutions430/8 | €5,296 | €5,209 | €7,375 | €8,240 | €25,872 | ▲ 214% |
| Trade debts44 | €226,679 | €333,821 | €219,823 | €291,017 | €234,371 | ▼ 19.5% |
| Suppliers440/4 | €226,679 | €333,821 | €219,823 | €291,017 | €234,371 | ▼ 19.5% |
| Advances received on contracts in progress46 | - | - | - | €7,549 | - | - |
| Taxes, remuneration and social security45 | €62,582 | €35,668 | €42,120 | €55,194 | €38,756 | ▼ 29.8% |
| Taxes450/3 | €22,999 | €14,456 | €20,310 | €38,136 | €35,611 | ▼ 6.6% |
| Remuneration and social security454/9 | €39,584 | €21,212 | €21,810 | €17,058 | €3,145 | ▼ 81.6% |
| Other amounts payable47/48 | €91,174 | €98,147 | €110,492 | €114,369 | €157,181 | ▲ 37.4% |
| Accrued charges and deferred income492/3 | €20,013 | €20,363 | - | €2,115 | €2,457 | ▲ 16.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€37,993 | -€116,638 | -€159,319 | -€138,941 | €7,715 | ▲ 106% |
| + Depreciation and write-downs630 | €11,176 | €6,970 | €6,603 | €10,384 | €9,048 | ▼ 12.9% |
| Operating cash flow (approximation) | -€26,817 | -€109,668 | -€152,716 | -€128,557 | €16,763 | ▲ 113% |
| Investment in fixed assets (approximation) | - | €9,908 | -€29,376 | -€8,051 | €0 | ▲ 100% |
| Change in cash | - | €66,494 | -€73,361 | €372 | €5,033 | ▲ 1,252% |
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
Next filing, fiscal year 2026, expected by
2026
20-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €7,715
Net result €7,715 after 5 loss-making years.
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
07-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 7 days late
2023
31-12
Financial
Weakest financial yearnet -€159,319
Net result drops to -€159,319, the lowest in the series; recovery starts the following year.
20-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 51 days late
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 92 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity doublescurrent ratio 2.59
Current ratio from 1.25 to 2.59; short-term debt falls from €202,815 to €130,153.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
20-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 51 days late
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, Gavere · 1 establishment unit since 2014
Ground area
1,938 m²
Building footprint
538 m²
Volume, LiDAR
2,037 m³
2 parcels, Flanders · tallest building 7.1 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Corvo Asper
since 20142.236.077.256
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44003A0376/00L000 | Flanders | 1,223 m² | 1 · 325 m² | 4.1 m · 1 fl. |
| 44003A0130/00G000 | Flanders | 715 m² | 1 · 214 m² | 7.1 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGavere2.236.077.256
Dual-learning approval
1 endedWinkelbediende (so)
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Of 103 companies in sector 49500 we hold annual accounts for 72. 43 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
Founded15-07-2010
Fiscal year end31-12
Activities, NACEBEL 2025
47300Retail sale of automotive fuel
49500Land transport and transport via pipelines
E-invoicing
Reachable via Peppol
Peppol ID
0208:0827872828
Also
9925:BE0827872828
Registered
01-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.