Ets CORDONNIER
ActiveEts CORDONNIER has been active since 1975 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.21M and a net result of €124k. Equity is growing by ~20.5% per year across the filed fiscal years. Its solvency ranks better than 90% of 4826 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
81
/ 100
Excellent▼ -2 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability28▼-27
Solvency85▲+3
Growth52=
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €180k at 30 days acceptable
Liquidity tight (current ratio 1.32 against 1.19 in 2024), and 14.5% 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
85.5%
Return on assets
4.8%
Age of the figures
8 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 · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-05-2026, 63 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
63 d early
2024
77 d early
2023
30 d late
2022
31 d late
2021
83 d early
2020
95 d early
2019
12 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
14-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€0
EBIT margin
Not included in this filing
Net result
€124k▼ 46.2%
2024 · €231k
2018: €369k
2019: €312k
2020: €309k
2021: €379k
2022: €335k
2023: €261k
2024: €231k
2018 → 2025
Working capital
€119k▲ 39.7%
2024 · €85k
2018: €286k
2019: €609k
2020: €493k
2021: €450k
2022: €415k
2023: €98k
2024: €85k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.29M-€1.62M▲ 25.6%€1.87M▲ 15.7%€2.10M▲ 11.9%€2.21M▲ 5.4%
Operating result€499k-€433k▼ 13.3%€363k▼ 16.1%€295k▼ 18.7%€179k▼ 39.2%
Net result€379k-€335k▼ 11.6%€261k▼ 22.1%€231k▼ 11.7%€124k▼ 46.2%
Result per fiscal year
Operating resultNet result
The operating result has fallen four years in a row; 2025 is 39% below 2024 and is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.58M
Fixed assets
€2.10M▲ 4.3%
Current assets
€488k▼ 9.7%
Equity and liabilities €2.58M
Equity
€2.21M▲ 5.4%
Debt
€375k▼ 17.8%
The debt ratio falls from 17.9% to 14.5%: equity grows while debt is paid down.
Key figures and ratios
EBITDA
€193k▼
2024 · €310k
Cash flow
€137k▼
2024 · €245k
Solvency
85.5%▲
2024 · 82.1%
Current ratio
1.32▲
2024 · 1.19
Quick ratio
1.05▲
2024 · 0.90
Debt / equity
0.17▼
2024 · 0.22
ROE
5.6%▼
2024 · 11.0%
ROA
4.8%▼
2024 · 9.0%
Interest coverage
18.19▼
2024 · 32.26
Debt
€375k▼
2024 · €457k
Debt ≤ 1 year
€369k▼
2024 · €456k
Debt > 1 year
€6k
Income taxes
€98k▼
2024 · €104k
Staff costs
€262k▲
2024 · €205k
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€2.55M€2.58M▲
Fixed assets21/28€2.01M€2.10M▲
Intangible fixed assets21-€24k
Tangible fixed assets22/27€23k€14k▼
Furniture and vehicles24€23k€14k▼
Financial fixed assets28€1.99M€2.06M▲
Current assets29/58€541k€488k▼
Amounts receivable after more than one year29-€25k
Trade receivables290-€25k
Stocks and contracts in progress3€132k€102k▼
Stocks30/36€132k€102k▼
Amounts receivable within one year40/41€346k€261k▼
Trade receivables40€346k€261k▼
Other amounts receivable41€128-
Cash at bank and in hand54/58€476€37k▲
Deferred charges and accrued income490/1€63k€63k▲
Equity and liabilities
Total equity and liabilities10/49€2.55M€2.58M▲
Equity10/15€2.10M€2.21M▲
Contributions10/11€65k€65k=
Capital10€65k€65k=
Issued capital100€65k€65k=
Reserves13€703k€817k▲
Non-distributable reserves130/1€7k€7k=
Legal reserve130€7k€7k=
Distributable reserves133€697k€811k▲
Profit (loss) carried forward14€1.33M€1.33M=
Amounts payable17/49€457k€375k▼
Amounts payable after more than one year17-€6k
Financial debts170/4-€6k
Amounts payable within one year42/48€456k€369k▼
Current portion of amounts payable after more than one year42-€6k
Trade debts44€95k€20k▼
Suppliers440/4€95k€20k▼
Taxes, remuneration and social security45€78k€64k▼
Taxes450/3€46k€39k▼
Remuneration and social security454/9€32k€25k▼
Other amounts payable47/48€282k€279k▼
Accrued charges and deferred income492/3€1k-
Income statement
Code20242025
Remuneration, social security and pensions62€205k€262k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15k€13k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€1k€105k▲
Other operating charges640/8€4k€999▼
Gross operating margin9900€520k€560k▲
Operating profit (loss)9901€295k€179k▼
Financial income75/76B€49k€53k▲
Recurring financial income75€49k€53k▲
Financial charges65/66B€10k€11k▲
Recurring financial charges65€10k€11k▲
Profit (loss) for the period before taxes9903€334k€222k▼
Income taxes67/77€104k€98k▼
Profit (loss) for the period9904€231k€124k▼
Profit (loss) for the period to be appropriated9905€231k€124k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.56M€1.45M▼
Profit (loss) brought forward from the previous period14P€1.33M€1.33M=
Transfer to equity691/2€223k€114k▼
To other reserves6921€223k€114k▼
Profit to be distributed694/7€8k€10k▲
Employees696€8k€10k▲
Social balance
Average headcount (FTE)90873.04.0▲
The notes to these accounts (13 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
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €124k ▼46.2%
Net result drops to €124k, the lowest in the series.
15-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Equity above €2MEq €2.10M ▲11.9%
7 profitable years in a row build equity to €2.10M.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
09-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Highest result since 2018net €379k ▲22.8%
Net result €379k, the highest in the series.
31-12
Financial
Equity above €1MEq €1.29M ▲40.6%
4 profitable years in a row build equity to €1.29M.
27-04
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 12 days late
2019
31-12
Financial
Liquidity quadruplescurrent ratio 7.87
Current ratio from 2.02 to 7.87; short-term debt falls from €281k to €89k.
31-12
Financial
Equity above €500kEq €608k ▲106%
2 profitable years in a row build equity to €608k.
23-04
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
27-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
6 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, Sint-Pieters-Woluwe · 1 establishment unit since 1975
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.
Kolonel Daumerielaan 171150 Sint-Pieters-WoluweGround area
1.2 ha
Building footprint
333 m²
Volume, LiDAR
3,901 m³
Parcel 21682C0008/00D003, Brussels · tallest building 16.8 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
Kolonel Daumerielaan 17, 1150 Sint-Pieters-Woluwe
since 19752.011.531.263
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21682C0008/00D003 | Brussels | 1.2 ha | 1 · 333 m² | 16.8 m · 4 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSint-Pieters-Woluwe2.011.531.263
Similar companies · same sector, comparable size
WERCO
BE 0416.608.664
Oostende · Eq €2.20M
Raineri1956
BE 0893.924.680
Genk · Eq €2.18M
VINEYARD
BE 0431.589.919
Kortrijk · Eq €2.07M
Henkell Freixenet Belgium
BE 0537.696.833
Ranst · Eq €2.37M
Jacques PIRARD et Fils
BE 0425.104.379
Genappe · Eq €2.39M
Of 1,043 companies in sector 46341 we hold annual accounts for 530. 197 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded29-09-1975
Fiscal year end31-12
Activities, NACEBEL
46341Wholesale of wines and spirits
46349Wholesale of beverages, general range
51340
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 14-09-2026. Scores and ratios are computed by Checked and are not a credit decision.