COURTOIS
ActiveCOURTOIS has been active since 1980 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.46M and a net result of €500k. Equity is growing by ~15.8% per year across the filed fiscal years. Its solvency ranks better than 66% of 4844 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability80▲+7
Solvency85▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €280k at 30 days acceptable
Liquidity ample (current ratio 4.62 against 3.6 in 2024; short-term debt: 14.1% and cash: 12.9% of total assets), and 39.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
60.3%
Return on assets
8.7%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 05-08-2026, 5 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
5 d late
2024
15 d early
2023
1 d early
2022
22 d late
2021
31 d late
2020
13 d late
2019
66 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€500k▲ 198%
2024 · €168k
2018: €89k
2019: €-37k
2020: €21k
2021: €127k
2022: €336k
2023: €271k
2024: €168k
2018 → 2025
Working capital
€2.93M▲ 32.7%
2024 · €2.21M
2018: €1.02M
2019: €992k
2020: €564k
2021: €1.33M
2022: €1.66M
2023: €1.93M
2024: €2.21M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.04M-€2.38M▲ 16.4%€2.65M▲ 11.4%€2.82M▲ 6.3%€3.46M▲ 22.9%
Operating result€67k-€268k▲ 297%€301k▲ 12.4%€232k▼ 23.1%€521k▲ 125%
Net result€127k-€336k▲ 165%€271k▼ 19.2%€168k▼ 38.1%€500k▲ 198%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 125% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.74M
Fixed assets
€2.00M▼ 9.4%
Current assets
€3.74M▲ 22.3%
Equity and liabilities €5.74M
Equity
€3.46M▲ 22.9%
Debt
€2.28M▼ 6.9%
The debt ratio falls from 46.5% to 39.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€852k▲
2024 · €538k
Cash flow
€831k▲
2024 · €475k
Solvency
60.3%▲
2024 · 53.5%
Current ratio
4.62▲
2024 · 3.60
Quick ratio
3.78▲
2024 · 2.87
Debt / equity
0.66▼
2024 · 0.87
ROE
14.4%▲
2024 · 6.0%
ROA
8.7%▲
2024 · 3.2%
Interest coverage
13.36▲
2024 · 8.27
Debt
€2.28M▼
2024 · €2.45M
Debt ≤ 1 year
€811k▼
2024 · €851k
Debt > 1 year
€1.41M▼
2024 · €1.57M
Income taxes
€169k▲
2024 · €83k
Staff costs
€330k▼
2024 · €345k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€5.27M€5.74M▲
Fixed assets21/28€2.21M€2.00M▼
Intangible fixed assets21€48k€0▼
Tangible fixed assets22/27€2.12M€1.96M▼
Land and buildings22€1.54M€1.44M▼
Plant, machinery and equipment23€229k€252k▲
Furniture and vehicles24€109k€77k▼
Leasing and similar rights25€240k€188k▼
Financial fixed assets28€38k€41k▲
Current assets29/58€3.06M€3.74M▲
Amounts receivable after more than one year29€300k€300k=
Other amounts receivable291€300k€300k=
Stocks and contracts in progress3€617k€679k▲
Stocks30/36€617k€679k▲
Amounts receivable within one year40/41€1.39M€1.82M▲
Trade receivables40€1.11M€1.58M▲
Other amounts receivable41€286k€247k▼
Current investments50/53€200k€200k=
Cash at bank and in hand54/58€550k€741k▲
Deferred charges and accrued income490/1€2k€2k▼
Equity and liabilities
Total equity and liabilities10/49€5.27M€5.74M▲
Equity10/15€2.82M€3.46M▲
Contributions10/11€125k€125k=
Capital10€125k€125k=
Issued capital100€125k€125k=
Reserves13€2.64M€3.04M▲
Non-distributable reserves130/1€13k€13k=
Legal reserve130€13k€13k=
Tax-exempt reserves132€30k€30k=
Distributable reserves133€2.60M€3.00M▲
Profit (loss) carried forward14€49k€149k▲
Investment grants15-€145k
Amounts payable17/49€2.45M€2.28M▼
Amounts payable after more than one year17€1.57M€1.41M▼
Financial debts170/4€1.57M€1.41M▼
Amounts payable within one year42/48€851k€811k▼
Current portion of amounts payable after more than one year42€207k€210k▲
Trade debts44€55k€43k▼
Suppliers440/4€55k€43k▼
Taxes, remuneration and social security45€104k€100k▼
Taxes450/3€73k€67k▼
Remuneration and social security454/9€32k€33k▲
Other amounts payable47/48€485k€457k▼
Accrued charges and deferred income492/3€34k€66k▲
Income statement
Code20242025
Non-recurring operating income76A-€0
Remuneration, social security and pensions62€345k€330k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€307k€331k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-30k€93k▲
Other operating charges640/8€130k€80k▼
Non-recurring operating charges66A€574-
Gross operating margin9900€984k€1.35M▲
Operating profit (loss)9901€232k€521k▲
Financial income75/76B€84k€211k▲
Recurring financial income75€84k€196k▲
Non-recurring financial income76B-€15k
Financial charges65/66B€65k€64k▼
Recurring financial charges65€65k€64k▼
Profit (loss) for the period before taxes9903€251k€669k▲
Income taxes67/77€83k€169k▲
Profit (loss) for the period9904€168k€500k▲
Profit (loss) for the period to be appropriated9905€168k€500k▲
Appropriation of the result
Profit (loss) to be appropriated9906€249k€549k▲
Profit (loss) brought forward from the previous period14P€81k€49k▼
Transfer to equity691/2€200k€400k▲
To other reserves6921€200k€400k▲
Social balance
Average headcount (FTE)90879.18.3▼
The notes to these accounts (25 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
05-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 5 days late
2025
31-12
Financial
Highest result since 2018net €500k ▲198%
Operating result €521k, net result €500k, both a record.
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
22-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 22 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Equity above €2MEq €2.04M ▲95.7%
2 profitable years in a row build equity to €2.04M.
13-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 13 days late
2020
31-12
Financial
Back to profitnet €21k
Net result €21k after one loss-making year.
05-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 66 days late
2019
31-12
Financial
Weakest financial yearnet €-37k ▼142%
Net result drops to €-37k, the lowest in the series; recovery starts the following year.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
10-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 10 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2005
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
08-06-2005
Jeanne de Chantal Courtois: Resigned as Director
08-06-2005
Lambert Courtois: Resigned as Director
Location & real-estate footprint
Registered office, Visé · 1 establishment unit since 1980
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.
Rue de Maestricht(VIS) 904600 ViséGround area
348 m²
Building footprint
68 m²
Volume, LiDAR
496 m³
Parcel 62108B0231/00R009, Wallonia · tallest building 8.3 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Rue de Maestricht(VIS) 90, 4600 Visé
since 19802.019.369.457
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62108B0231/00R009 | Wallonia | 348 m² | 1 · 68 m² | 8.3 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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SESSELLE - MATTHEEUWS
BE 0447.669.549
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Compagnie immobilière de Saint Fontaine
BE 0578.952.121
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HUBLET
BE 0411.643.551
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Of 857 companies in sector 46832 we hold annual accounts for 588. 371 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded01-01-1980
Fiscal year end31-12
Activities, NACEBEL
46832Wholesale of timber
47521Retail sale of hardware, building materials, paint and glass (general range)
52461
Sources
Crossroads Bank for EnterprisesNational Bank · 46 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.