COURCELLES IMMO
ActiveSummary
COURCELLES IMMO has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show negative equity (-€209,873) and a net result of -€92,395. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 6% of 72 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability7▼-4
Solvency11=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.63 against 3.55 in 2025; short-term debt: 11.3% and cash: 0.1% of total assets), but equity is negative.
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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 2026Solvency, return and age of the figures
Solvency
-13.7%
Return on assets
-6%
Age of the figures
6 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 · Negative equity
The 2026 annual accounts show negative equity and a net loss.
NBB · annual accounts 2026Equity per financial year
1920212223242526
2019 to 2026 · latest year -€209,873
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 14-09-2026, 47 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
47 d early
2025
21 d early
2024
17 d early
2023
33 d early
2022
3 d early
2021
16 d late
2020
19 d late
← 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 12 days before 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 (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today. Usually files around 10 October (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-03-2027 close31-10-2027 deadline
History
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Financials · fiscal year 2026, full schema
Turnover
€4,500
EBIT margin
-1850.1%
Net result
-€92,395▼ 78.5%
2025 · -€51,764
Working capital
€110,078▼ 38.9%
2025 · €180,220
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Line20222023202420252026
Turnover€4,500
Operating result-€14,381▼ 103%-€5,176▲ 64.0%-€17,145▼ 231%-€45,958▼ 168%-€83,254▼ 81.2%
Net result-€21,917below the sector's middle half▼ 46.2%-€12,480below the sector's middle half▲ 43.1%-€23,758below the sector's middle half▼ 90.4%-€51,764below the sector's middle half▼ 118%-€92,395▼ 78.5%
EBIT margin-1850.1%
Equity-€29,476below the sector's middle half▼ 290%-€41,956below the sector's middle half▼ 42.3%-€65,714below the sector's middle half▼ 56.6%-€117,478below the sector's middle half▼ 78.8%-€209,873▼ 78.6%
Total assets€839,746within the sector's middle half▼ 3.3%€904,237within the sector's middle half▲ 7.7%€894,904within the sector's middle half▼ 1.0%€863,856within the sector's middle half▼ 3.5%€1.5m▲ 77.3%
Debt€869,222▼ 0.7%€946,193▲ 8.9%€960,618▲ 1.5%€981,334▲ 2.2%€1.7m▲ 77.5%
Working capital€156,662within the sector's middle half▼ 8.5%€198,672within the sector's middle half▲ 26.8%€205,701within the sector's middle half▲ 3.5%€180,220within the sector's middle half▼ 12.4%€110,078▼ 38.9%
Solvency-3.5%below the sector's middle half▼ 2.6pp-4.6%below the sector's middle half▼ 1.1pp-7.3%below the sector's middle half▼ 2.7pp-13.6%below the sector's middle half▼ 6.3pp-13.7%▼ 0.1pp
Current ratio4.46above the sector's middle half▼ 0.754.25above the sector's middle half▼ 0.214.29above the sector's middle half▲ 0.043.55within the sector's middle half▼ 0.741.63▼ 1.92
Return on assets (ROA)-2.6%below the sector's middle half▼ 0.9pp-1.4%below the sector's middle half▲ 1.2pp-2.7%below the sector's middle half▼ 1.3pp-6.0%below the sector's middle half▼ 3.3pp-6.0%=
Staff (FTE)0.4below the sector's middle half1▲ 150%
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €83,254 in 2026 against €45,958 in 2025; the loss grows and 2026 has the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €1.5m
Fixed assets
€1.2m ▲ 104%
Current assets
€283,599 ▲ 13.1%
Key figures and ratios
EBITDA
-€68,643▼
2025 · -€28,893
Cash flow
-€77,785▼
2025 · -€34,700
Debt to equity
-8.30▲
2025 · -8.35
Interest coverage
-7.75▼
2025 · -5.08
Debt ≤ 1 year
€173,522▲
2025 · €70,595
Debt > 1 year
€1.6m▲
2025 · €908,041
Income taxes
€229▲
2025 · €121
Staff costs
€48,130▲
2025 · €20,981
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €137,219 | - |
| Turnover70 | - | - | - | - | €4,500 | - |
| Other operating income74 | - | - | - | - | €132,719 | - |
| Operating charges60/66A | - | - | - | - | €220,473 | - |
| Services and other goods61 | - | - | - | - | €151,320 | - |
| Remuneration, social security and pensions62 | - | - | - | €20,981 | €48,130 | ▲ 129% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,425 | €18,425 | €17,684 | €17,064 | €14,610 | ▼ 14.4% |
| Other operating charges640/8 | €10,747 | €3,145 | €3,427 | €4,801 | €6,412 | ▲ 33.6% |
| Gross operating margin9900 | €14,790 | €16,394 | €3,966 | -€3,111 | - | - |
| Operating profit (loss)9901 | -€14,381 | -€5,176 | -€17,145 | -€45,958 | -€83,254 | ▼ 81.2% |
| Financial charges65/66B | €7,536 | €7,304 | €6,613 | €5,685 | €8,913 | ▲ 56.8% |
| Recurring financial charges65 | €7,536 | €7,304 | €6,613 | €5,685 | €8,913 | ▲ 56.8% |
| Debt charges650 | - | - | - | - | €8,862 | - |
| Other financial charges652/9 | - | - | - | - | €50 | - |
| Profit (loss) for the period before taxes9903 | -€21,917 | -€12,480 | -€23,758 | -€51,643 | -€92,166 | ▼ 78.5% |
| Income taxes67/77 | - | - | - | €121 | €229 | ▲ 88.2% |
| Taxes670/3 | - | - | - | - | €229 | - |
| Profit (loss) for the period9904 | -€21,917 | -€12,480 | -€23,758 | -€51,764 | -€92,395 | ▼ 78.5% |
| Profit (loss) for the period to be appropriated9905 | -€21,917 | -€12,480 | -€23,758 | -€51,764 | -€92,395 | ▼ 78.5% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €839,746 | €904,237 | €894,904 | €863,856 | €1.5m | ▲ 77.3% |
| Fixed assets21/28 | €637,801 | €644,377 | €626,693 | €613,041 | €1.2m | ▲ 104% |
| Tangible fixed assets22/27 | €422,001 | €403,577 | €385,893 | €372,241 | €357,631 | ▼ 3.9% |
| Land and buildings22 | €411,398 | €396,533 | €382,182 | €370,446 | €356,643 | ▼ 3.7% |
| Plant, machinery and equipment23 | €10,603 | €7,043 | €3,711 | €1,795 | €987 | ▼ 45.0% |
| Financial fixed assets28 | €215,800 | €240,800 | €240,800 | €240,800 | €890,770 | ▲ 270% |
| Affiliated companies280/1 | - | - | - | - | €390,000 | - |
| Participating interests280 | - | - | - | - | €390,000 | - |
| Companies linked by participating interests282/3 | - | - | - | - | €499,970 | - |
| Participating interests282 | - | - | - | - | €499,970 | - |
| Other financial fixed assets284/8 | - | - | - | - | €800 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €800 | - |
| Current assets29/58 | €201,944 | €259,861 | €268,211 | €250,815 | €283,599 | ▲ 13.1% |
| Amounts receivable after more than one year29 | €182,900 | €244,600 | €244,600 | €224,600 | €244,600 | ▲ 8.9% |
| Other amounts receivable291 | €182,900 | €244,600 | €244,600 | €224,600 | €244,600 | ▲ 8.9% |
| Amounts receivable within one year40/41 | €10,500 | €2,039 | €331 | €2,669 | €27,535 | ▲ 932% |
| Trade receivables40 | €10,500 | €1,500 | - | €1,971 | €25,974 | ▲ 1,218% |
| Other amounts receivable41 | - | €539 | €331 | €698 | €1,562 | ▲ 124% |
| Cash at bank and in hand54/58 | €2,063 | €4,368 | €14,034 | €14,272 | €1,550 | ▼ 89.1% |
| Deferred charges and accrued income490/1 | €6,482 | €8,853 | €9,246 | €9,273 | €9,914 | ▲ 6.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €839,746 | €904,237 | €894,904 | €863,856 | €1.5m | ▲ 77.3% |
| Equity10/15 | -€29,476 | -€41,956 | -€65,714 | -€117,478 | -€209,873 | ▼ 78.6% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€129,476 | -€141,956 | -€165,714 | -€217,478 | -€309,873 | ▼ 42.5% |
| Amounts payable17/49 | €869,222 | €946,193 | €960,618 | €981,334 | €1.7m | ▲ 77.5% |
| Amounts payable after more than one year17 | €821,241 | €882,307 | €895,410 | €908,041 | €1.6m | ▲ 72.7% |
| Financial debts170/4 | €331,241 | €304,807 | €277,910 | €250,541 | €581,851 | ▲ 132% |
| Credit institutions173 | - | - | - | - | €581,851 | - |
| Other amounts payable178/9 | €490,000 | €577,500 | €617,500 | €657,500 | €986,500 | ▲ 50.0% |
| Amounts payable within one year42/48 | €45,282 | €61,188 | €62,511 | €70,595 | €173,522 | ▲ 146% |
| Current portion of amounts payable after more than one year42 | €25,979 | €26,434 | €26,897 | €27,369 | €68,690 | ▲ 151% |
| Financial debts43 | - | - | - | - | €2,698 | - |
| Credit institutions430/8 | - | - | - | - | €2,698 | - |
| Trade debts44 | €8,394 | €8,970 | €9,829 | €11,009 | €34,430 | ▲ 213% |
| Suppliers440/4 | €8,394 | €8,970 | €9,829 | €11,009 | €34,430 | ▲ 213% |
| Taxes, remuneration and social security45 | €909 | - | - | €6,433 | €11,920 | ▲ 85.3% |
| Taxes450/3 | €909 | - | - | €1,389 | €3,306 | ▲ 138% |
| Remuneration and social security454/9 | - | - | - | €5,044 | €8,614 | ▲ 70.8% |
| Other amounts payable47/48 | €10,000 | €25,784 | €25,784 | €25,784 | €55,784 | ▲ 116% |
| Accrued charges and deferred income492/3 | €2,698 | €2,698 | €2,698 | €2,698 | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€21,917 | -€12,480 | -€23,758 | -€51,764 | -€92,395 | ▼ 78.5% |
| + Depreciation and write-downs630 | €18,425 | €18,425 | €17,684 | €17,064 | €14,610 | ▼ 14.4% |
| Operating cash flow (approximation) | -€3,492 | €5,945 | -€6,074 | -€34,700 | -€77,785 | ▼ 124% |
| Investment in fixed assets (approximation) | - | -€25,000 | €0 | -€3,412 | -€649,970 | ▼ 18,948% |
| Change in cash | - | €2,306 | €9,665 | €239 | -€12,722 | ▼ 5,433% |
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 2027, expected by
2026
14-09
NBB filing
Annual accounts filed
fiscal year 2026 · full schema
31-03
Financial
Weakest financial yearnet -€92,395
Net result drops to -€92,395, the lowest in the series.
2025
10-10
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2024
14-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
28-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
16-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 16 days late
31-03
Financial
Liquidity times 14current ratio 5.21
Current ratio from 0.37 to 5.21; short-term debt falls from €419,901 to €40,615.
2020
19-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 19 days late
2019
14-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
16-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
20-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Frameries · 1 establishment unit since 2013
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Av. des Nouvelles Technologies 717080 Frameries1 establishment unit
Av. des Nouvelles Technologies 71, 7080 Frameries
since 20132.223.968.488
Structure & network
Owners and holdings
5 holdings · 4 subsidiaries in the treeOwners 0
The accounts to 31-03-2026 list no shareholders, and no other source names one.
Holdings 5
- BUREAU D'ETUDES BTCsubsidiaryEquity -€41,054Result -€80,242100%
- CENTRE D'AFFAIRES PARC 71subsidiaryEquity €214,046Result €40,338100%
- QUBE PROMOTIONSsubsidiarySourceown accounts 31-03-2026100%
- Equity -€7,081Result -€30,06750%
-
25%
All subsidiaries, including indirect ones 4
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
BUREAU D'ETUDES BTC 100%1 subsidiary
- BATECOLOR 100%
- CENTRE D'AFFAIRES PARC 71 100%
- QUBE PROMOTIONS 100%
According to the annual accounts to 31-03-2026 of COURCELLES IMMO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 19,681 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
Founded25-09-2013
Fiscal year end31-03
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
70200Business and other management consultancy
68321Property management for co-owned buildings (syndics)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0538942688
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.