InCorDev
ActiveInCorDev has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-229k) and a net result of €-256k. Equity is shrinking by ~24.7% per year across the filed fiscal years. Its solvency ranks better than 8% of 637 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
27
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0=
Solvency0▼-33
Growth32=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.11 against 0.44 in 2023; short-term debt: 136.5% and cash: 7.1% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 2024Solvency, return and age of the figures
Solvency
-73.4%
Return on assets
-82.2%
Age of the figures
21 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 72
Relative position
BE, all sectors
reference
Sector 72
lower
← fewer bankruptcies
more bankruptcies →
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 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-229k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 03-06-2025, 58 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
58 d early
2023
20 d early
2022
34 d early
2021
11 d late
2020
3 d early
2019
74 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€-229k
2023 · €27k
2018: €88k
2019: €126k
2020: €141k
2021: €119k
2022: €82k
2023: €27k
2018 → 2024
Total assets
€311k▼ 9.2%
2023 · €343k
2018: €387k
2019: €417k
2020: €388k
2021: €350k
2022: €370k
2023: €343k
2018 → 2024
Net result
€-256k▼ 366%
2023 · €-55k
2018: €24k
2019: €39k
2020: €15k
2021: €-22k
2022: €-37k
2023: €-55k
2018 → 2024
Working capital
€-378k▼ 286%
2023 · €-98k
2018: €63k
2019: €81k
2020: €75k
2021: €32k
2022: €-23k
2023: €-98k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€141k-€119k▼ 15.3%€82k▼ 31.3%€27k▼ 66.9%€-229k
Operating result€32k-€-15k€-34k▼ 121%€-54k▼ 59.1%€-247k▼ 359%
Net result€15k-€-22k€-37k▼ 73.0%€-55k▼ 46.9%€-256k▼ 366%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €247k in 2024 against €54k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €311k
Fixed assets
€264k▼ 0.4%
Current assets
€47k▼ 39.3%
Key figures and ratios
EBITDA
€-246k▼
2023 · €-51k
Cash flow
€-255k▼
2023 · €-53k
Solvency
-73.4%▼
2023 · 7.9%
Current ratio
0.11▼
2023 · 0.44
Quick ratio
0.11▼
2023 · 0.44
Debt / equity
-2.36▼
2023 · 11.63
ROA
-82.2%▼
2023 · -16.0%
Interest coverage
-27.06▼
2023 · -15.10
Debt
€540k▲
2023 · €316k
Debt ≤ 1 year
€425k▲
2023 · €175k
Debt > 1 year
€115k▼
2023 · €137k
Staff costs
€56k▲
2023 · €53k
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 · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€343k€311k▼
Fixed assets21/28€265k€264k▼
Tangible fixed assets22/27€265k€264k▼
Land and buildings22€264k€264k=
Furniture and vehicles24€1k€0▼
Current assets29/58€77k€47k▼
Amounts receivable within one year40/41€38k€25k▼
Trade receivables40€22k€14k▼
Other amounts receivable41€15k€11k▼
Cash at bank and in hand54/58€40k€22k▼
Deferred charges and accrued income490/1-€232
Equity and liabilities
Total equity and liabilities10/49€343k€311k▼
Equity10/15€27k€-229k▼
Contributions10/11€18k€18k=
Reserves13€121k€121k=
Distributable reserves133€121k€121k=
Profit (loss) carried forward14€-112k€-368k▼
Amounts payable17/49€316k€540k▲
Amounts payable after more than one year17€137k€115k▼
Financial debts170/4€137k€115k▼
Amounts payable within one year42/48€175k€425k▲
Current portion of amounts payable after more than one year42€21k€22k▲
Trade debts44€12k€1k▼
Suppliers440/4€12k€1k▼
Taxes, remuneration and social security45€7k€7k▲
Taxes450/3€11€0▼
Remuneration and social security454/9€7k€7k▲
Other amounts payable47/48€135k€395k▲
Accrued charges and deferred income492/3€4k€0▼
Income statement
Code20232024
Remuneration, social security and pensions62€53k€56k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2k€1k▼
Other operating charges640/8€357€529▲
Gross operating margin9900€2k€-190k▼
Operating profit (loss)9901€-54k€-247k▼
Financial income75/76B€2k€1▼
Recurring financial income75€2k€1▼
Financial charges65/66B€3k€9k▲
Recurring financial charges65€3k€9k▲
Profit (loss) for the period before taxes9903€-55k€-256k▼
Profit (loss) for the period9904€-55k€-256k▼
Profit (loss) for the period to be appropriated9905€-55k€-256k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-112k€-368k▼
Profit (loss) brought forward from the previous period14P€-57k€-112k▼
Transfer from equity791/2€0-
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
03-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet €-256k
Net result drops to €-256k, the lowest in the series.
11-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
11-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 11 days late
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
18-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Highest result since 2018net €39k ▲63.4%
Operating result €69k, net result €39k, both a record.
31-12
Financial
Equity above €100kEq €126k ▲44%
2 profitable years in a row build equity to €126k.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
30-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
02-06
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
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 2022
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.
11-07-2022
Resigned as Director
Location & real-estate footprint
Registered office, Westerlo · 1 establishment unit since 2011
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.
Boskant 162260 WesterloGround area
1.3 ha
Building footprint
4,309 m²
Volume, LiDAR
20,088 m³
2 parcels, Flanders · tallest building 24.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
INCORDEV
since 20112.196.312.107
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13049B0082/00S003 | Flanders | 7,945 m² | 1 · 4,067 m² | 9.2 m · 2 fl. |
| 24060A0269/00H000 | Flanders | 4,918 m² | 1 · 242 m² | 24.4 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 5,324 EUR awarded · 5,324 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 3,824 EUR | 3,824 EUR |
| 2024 | 1 | 300 EUR | 300 EUR |
| 2023 | 1 | 600 EUR | 600 EUR |
| 2022 | 1 | 600 EUR | 600 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 1,177 companies in sector 72109 we hold annual accounts for 715. 287 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-02-2011
Fiscal year end31-12
Activities, NACEBEL
72109Other research and development on natural sciences
Sources
Crossroads Bank for EnterprisesNational Bank · 14 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.