Crescekor
ActiveSummary
Crescekor has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€729,428) and a net result of -€564,373. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 10552 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-13
Solvency6▼-14
Growth32=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.45 against 1.78 in 2024; short-term debt: 48.9% and cash: 0.7% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% 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
-19.1%
Return on assets
-14.8%
Age of the figures
12 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€729,428
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 27-04-2026, 3 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
3 d early
2024
5 d early
2023
4 d early
2022
9 d early
2021
9 d early
2020
7 d early
2019
7 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 6 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 25 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Public money
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Financials · fiscal year 2025, abbreviated schema
Equity
-€729,428▼ 342%
2024 · -€165,055
Total assets
€3.8m▲ 25.2%
2024 · €3.1m
Net result
-€564,373▼ 139%
2024 · -€236,425
Working capital
-€1.0m
2024 · €1.1m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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€162,217▲ 689%€150,637▼ 7.1%-€44,300-€214,671▼ 385%-€535,493▼ 149%
Net result€135,819above the sector's middle half€126,412above the sector's middle half▼ 6.9%-€68,084below the sector's middle half-€236,425below the sector's middle half▼ 247%-€564,373below the sector's middle half▼ 139%
Equity€73,042below the sector's middle half€139,455within the sector's middle half▲ 90.9%€71,370below the sector's middle half▼ 48.8%-€165,055below the sector's middle half-€729,428below the sector's middle half▼ 342%
Total assets€2.7mabove the sector's middle half▼ 5.1%€2.9mabove the sector's middle half▲ 7.6%€2.6mabove the sector's middle half▼ 10.8%€3.1mabove the sector's middle half▲ 17.5%€3.8mabove the sector's middle half▲ 25.2%
Debt€2.6m▼ 9.7%€2.8m▲ 5.3%€2.5m▼ 8.9%€3.2m▲ 27.3%€4.6m▲ 41.4%
Working capital€525,156above the sector's middle half▲ 43.0%€513,550above the sector's middle half▼ 2.2%€497,487above the sector's middle half▼ 3.1%€1.1mabove the sector's middle half▲ 118%-€1.0mbelow the sector's middle half
Solvency2.7%below the sector's middle half▲ 4.9pp4.8%below the sector's middle half▲ 2.1pp2.7%below the sector's middle half▼ 2.0pp-5.4%below the sector's middle half▼ 8.1pp-19.1%below the sector's middle half▼ 13.7pp
Current ratio1.52within the sector's middle half▲ 0.241.38within the sector's middle half▼ 0.141.39within the sector's middle half▲ 0.011.78within the sector's middle half▲ 0.400.45below the sector's middle half▼ 1.34
Return on assets (ROA)5.0%within the sector's middle half▲ 5.1pp4.3%within the sector's middle half▼ 0.7pp-2.6%below the sector's middle half▼ 7.0pp-7.7%below the sector's middle half▼ 5.1pp-14.8%below the sector's middle half▼ 7.0pp
Staff (FTE)12.5above the sector's middle half▼ 6.0%12.8above the sector's middle half▲ 2.4%13.8above the sector's middle half▲ 7.8%13.9above the sector's middle half▲ 0.7%10.8above the sector's middle half▼ 22.3%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €535,493 in 2025 against €214,671 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.8m
Fixed assets
€3.0m ▲ 412%
Current assets
€832,900 ▼ 66.3%
Key figures and ratios
EBITDA
-€117,141▼
2024 · €20,186
Cash flow
-€146,021▼
2024 · -€1,568
Quick ratio
0.18▼
2024 · 1.43
Debt to equity
-6.24▲
2024 · -19.50
Interest coverage
-2.39▼
2024 · 0.45
Debt ≤ 1 year
€1.9m▲
2024 · €1.4m
Debt > 1 year
€2.7m▲
2024 · €1.8m
Income taxes
€324▲
2024 · €161
Staff costs
€577,345▼
2024 · €679,759
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 562 companies that looked in July 2024 the way this one looks now, 7.1% went bankrupt within 24 months and 87% are still going.
- Small
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.1%
went bankrupt
4.8%
stopped otherwise
87%
still going
A further 1.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 562 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 | - | - | - | €100 | €63,224 | ▲ 63,124% |
| Remuneration, social security and pensions62 | €518,325 | €570,338 | €645,845 | €679,759 | €577,345 | ▼ 15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €211,458 | €227,302 | €234,556 | €234,857 | €418,352 | ▲ 78.1% |
| Other operating charges640/8 | €3,707 | €2,184 | €3,315 | €2,886 | €8,692 | ▲ 201% |
| Gross operating margin9900 | €895,707 | €950,460 | €839,416 | €702,831 | €468,896 | ▼ 33.3% |
| Operating profit (loss)9901 | €162,217 | €150,637 | -€44,300 | -€214,671 | -€535,493 | ▼ 149% |
| Financial income75/76B | €18,862 | €19,611 | €20,021 | €23,091 | €20,442 | ▼ 11.5% |
| Recurring financial income75 | €18,862 | €19,611 | €20,021 | €23,091 | €20,442 | ▼ 11.5% |
| Financial charges65/66B | €45,260 | €43,835 | €42,902 | €44,684 | €48,998 | ▲ 9.7% |
| Recurring financial charges65 | €45,260 | €43,835 | €42,902 | €44,684 | €48,998 | ▲ 9.7% |
| Profit (loss) for the period before taxes9903 | €135,819 | €126,412 | -€67,181 | -€236,265 | -€564,049 | ▼ 139% |
| Income taxes67/77 | - | - | €904 | €161 | €324 | ▲ 102% |
| Profit (loss) for the period9904 | €135,819 | €126,412 | -€68,084 | -€236,425 | -€564,373 | ▼ 139% |
| Profit (loss) for the period to be appropriated9905 | €135,819 | €126,412 | -€68,084 | -€236,425 | -€564,373 | ▼ 139% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.7m | €2.9m | €2.6m | €3.1m | €3.8m | ▲ 25.2% |
| Fixed assets21/28 | €1.2m | €1.0m | €810,507 | €584,049 | €3.0m | ▲ 412% |
| Intangible fixed assets21 | €404,347 | €344,109 | €283,943 | €223,943 | €163,943 | ▼ 26.8% |
| Tangible fixed assets22/27 | €759,706 | €700,954 | €526,564 | €360,107 | €2.8m | ▲ 685% |
| Plant, machinery and equipment23 | €323,337 | €357,415 | €280,052 | €210,626 | €857,274 | ▲ 307% |
| Furniture and vehicles24 | €15,426 | €11,303 | €7,179 | €3,056 | €5,346 | ▲ 74.9% |
| Leasing and similar rights25 | - | - | - | - | €215,925 | - |
| Other tangible fixed assets26 | €420,943 | €332,236 | €239,333 | €146,425 | €1.7m | ▲ 1,094% |
| Current assets29/58 | €1.5m | €1.9m | €1.8m | €2.5m | €832,900 | ▼ 66.3% |
| Stocks and contracts in progress3 | €374,053 | €439,204 | €449,238 | €484,328 | €499,476 | ▲ 3.1% |
| Stocks30/36 | €374,053 | €439,204 | €449,238 | €484,328 | €499,476 | ▲ 3.1% |
| Amounts receivable within one year40/41 | €1.1m | €1.4m | €1.3m | €2.0m | €302,622 | ▼ 84.5% |
| Trade receivables40 | €76,221 | €129,984 | €74,805 | €111,935 | €104,751 | ▼ 6.4% |
| Other amounts receivable41 | €1.1m | €1.3m | €1.2m | €1.8m | €197,871 | ▼ 89.2% |
| Cash at bank and in hand54/58 | €34,297 | €24,467 | €65,794 | €29,536 | €24,875 | ▼ 15.8% |
| Deferred charges and accrued income490/1 | €4,919 | €5,536 | - | €5,746 | €5,927 | ▲ 3.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.7m | €2.9m | €2.6m | €3.1m | €3.8m | ▲ 25.2% |
| Equity10/15 | €73,042 | €139,455 | €71,370 | -€165,055 | -€729,428 | ▼ 342% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€26,958 | €39,455 | -€28,630 | -€265,055 | -€829,428 | ▼ 213% |
| Amounts payable17/49 | €2.6m | €2.8m | €2.5m | €3.2m | €4.6m | ▲ 41.4% |
| Amounts payable after more than one year17 | €1.6m | €1.4m | €1.2m | €1.8m | €2.7m | ▲ 47.3% |
| Financial debts170/4 | €1.6m | €1.4m | €1.2m | €1.8m | €2.6m | ▲ 45.2% |
| Other amounts payable178/9 | - | - | - | - | €36,999 | - |
| Amounts payable within one year42/48 | €1.0m | €1.4m | €1.3m | €1.4m | €1.9m | ▲ 34.7% |
| Current portion of amounts payable after more than one year42 | €196,368 | €197,008 | €197,655 | €325,998 | €313,910 | ▼ 3.7% |
| Financial debts43 | €50,574 | €50,582 | €60,654 | €30,199 | €60,491 | ▲ 100% |
| Credit institutions430/8 | €50,574 | €50,582 | €60,654 | €30,199 | €60,491 | ▲ 100% |
| Trade debts44 | €382,897 | €630,467 | €595,868 | €588,956 | €1.0m | ▲ 71.8% |
| Suppliers440/4 | €382,897 | €630,467 | €595,868 | €588,956 | €1.0m | ▲ 71.8% |
| Taxes, remuneration and social security45 | €106,293 | €115,131 | €126,248 | €115,033 | €121,205 | ▲ 5.4% |
| Taxes450/3 | €30,840 | €4,638 | €5,147 | €4,966 | €4,081 | ▼ 17.8% |
| Remuneration and social security454/9 | €75,453 | €110,493 | €121,101 | €110,067 | €117,124 | ▲ 6.4% |
| Other amounts payable47/48 | €282,715 | €362,436 | €311,637 | €326,462 | €360,870 | ▲ 10.5% |
| Accrued charges and deferred income492/3 | €10,000 | €10,000 | €25,120 | €30,160 | €30,160 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €135,819 | €126,412 | -€68,084 | -€236,425 | -€564,373 | ▼ 139% |
| + Depreciation and write-downs630 | €211,458 | €227,302 | €234,556 | €234,857 | €418,352 | ▲ 78.1% |
| Operating cash flow (approximation) | €347,277 | €353,714 | €166,472 | -€1,568 | -€146,021 | ▼ 9,212% |
| Investment in fixed assets (approximation) | - | -€108,312 | €0 | -€8,400 | -€2.8m | ▼ 33,532% |
| Change in cash | - | -€9,830 | €41,328 | -€36,258 | -€4,662 | ▲ 87.1% |
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
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
25-03
State Gazette act
Capital & sharesPower of attorney2 facts ▸
State Gazette act
Capital & shares
Power of attorney2 facts ▸
- Power of attorney, Arno Ciezkowski
- Power of attorney, Laure Mertens
2025
30-09
Financial
Weakest financial yearnet -€564,373
Net result drops to -€564,373, the lowest in the series.
25-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
26-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
21-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Equity above €100,000Eq €139,455 ▲90.9%
2 profitable years in a row build equity to €139,455.
21-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Back to profitnet €135,819
Net result €135,819 after 2 loss-making years.
23-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
23-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 5 acts read
About the unread acts
Of the 5 Belgian State Gazette acts we know for this company, 1 has been read. The other 4 have not 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 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Dilsen-Stokkem · 1 establishment unit since 2018
Ground area
4,176 m²
Building footprint
884 m²
Volume, LiDAR
509 m³
2 parcels, Flanders · tallest building 8.7 m, ±2 floors. Linked by address, not a title deed.
43
companies at this address
See who is registered here
1 establishment unit
Crescekor
since 20182.277.585.140
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34352A0249/00K003 | Flanders | 3,017 m² | 1 · 782 m² | - |
| 72032B1037/00D003 | Flanders | 1,159 m² | 1 · 102 m² | 8.7 m · 2 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.
Structure & network
Part of the group
ORKARI
31 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- ORKARI
- Crescekor
Highest known parent: ORKARI. The sources do not say who stands above it.
Owners 2
- ORKARIparent100%
-
1%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 9 entries · 73,871 EUR awarded · 73,871 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 47,499 EUR | 47,499 EUR |
| 2024 | 3 | 8,627 EUR | 8,627 EUR |
| 2023 | 2 | 9,235 EUR | 9,370 EUR |
| 2022 | 2 | 8,510 EUR | 8,375 EUR |
Recognitions · licences · registrations
Food safety, FASFC
1 siteKortrijk2.277.585.140
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Of 10,509 companies in sector 47110 we hold annual accounts for 5,853. 4,671 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
Founded14-06-2018
Fiscal year end30-09
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0697914307
Also
9925:BE0697914307
Registered
17-10-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.