Checked.be · Company dossierhttps://checked.be/en/c/koramic-development-projects-0400281485 · as of 25-10-2026
KORAMIC DEVELOPMENT PROJECTS
Active
Public limited company · founded 1960 · active for 66 yearsKapel ter Bede(Kor) 84, 8500 Kortrijk, Belgium28 active companies are registered at this addressKBO/BCE: BE 0400.281.485
Summary
The annual accounts of KORAMIC DEVELOPMENT PROJECTS for financial year 2025 show a net loss of 52,102% of the equity at the start of that year. The 2025 annual accounts show equity of €25.4m and a net result of -€4.6m. Equity is shrinking by about 38% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2026. Its solvency ranks better than 73% of 5,765 sector peers (NACE 68, financial year 2025). The company has been active since 1960 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.1% (very low).
Auditor: Boes & Verrue Bedrijfsrevisoren BV2025 accounts 39 days early
Why 56raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €4.6m (financial year 2025)Liquidity: current ratio 3.84, cash €2.2mlowers riskSize: turnover €24.1m, total assets €36.8mEquity €25.4m (68.9% of total assets)Show the evidence
Checked score
Score 2025
Checked score
A figure from 0 to 100: the higher it is, the smaller the chance that the company goes bankrupt within twelve months. The band, from Critical to Excellent, follows from that chance; within the band, how the company does against its sector peers counts too. With a low score, agree a shorter payment term, an advance or security.
56/ 100
Fair
Probability in this band: 1.5% to 4.2%
Financially better than 60% of its sector peers (NACE 68, medium-sized)
How strong the balance sheet and results are: solvency, liquidity and profitability from the latest annual accounts, each out of 100. It does not directly set the Checked score's band; how the company does on these and on growth against its sector peers does count for its place within the band.
Average
Solvency94+69
equity 68.9% of total assets
Liquidity51-3
short-term debt 20.8% · cash 5.9%
Profitability6-33
return on assets -12.5%
Bankruptcy probability, 12 months
Bankruptcy probability
The chance that the company goes bankrupt within twelve months, estimated from the registers, the annual accounts and the Belgian Official Gazette. 0.2% means about 2 in 1,000 comparable companies. The higher it is, the shorter the payment term to agree.
0.1%Very low
0%0.5%1.5%4%10%≥ 25%
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Sector median 0.1% (1,718 companies, NACE 68, medium-sized)
Last 24 months11-2024: 0.1%12-2024: 0.1%● unchanged vs 11-202401-2025: 0.1%● unchanged vs 12-202402-2025: 0.1%● unchanged vs 01-202503-2025: 0.1%● unchanged vs 02-202504-2025: 0.1%● unchanged vs 03-202505-2025: 0.1%● unchanged vs 04-202506-2025: 0.1%● unchanged vs 05-202507-2025: 0.1%● unchanged vs 06-2025highest value08-2025: 0.1%● unchanged vs 07-202509-2025: 0.1%● unchanged vs 08-202510-2025: 0.1%● unchanged vs 09-202511-2025: 0.1%● unchanged vs 10-202512-2025: 0.1%● unchanged vs 11-202501-2026: 0.1%● unchanged vs 12-202502-2026: 0.1%● unchanged vs 01-202603-2026: 0.1%● unchanged vs 02-202604-2026: 0.1%● unchanged vs 03-2026lowest value05-2026: 0.1%● unchanged vs 04-202606-2026: 0.1%● unchanged vs 05-202607-2026: 0.1%● unchanged vs 06-202608-2026: 0.1%● unchanged vs 07-202609-2026: 0.1%● unchanged vs 08-202610-2026: 0.1%● unchanged vs 09-2026
Credit of up to €1,400,000 on 30-day terms, only on tighter conditions
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 3.84, compared with 5.86 in 2024, above the usual 1.5; short-term debt: 20.8% and cash: 5.9% of total assets), and 31.1% of the assets are financed with debt and provisions.
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
75-100
Excellent
under 0.55%
60-74
Healthy
0.55% to 1.5%
45-59
Fair
1.5% to 4.2%
25-44
Weak
4.2% to 15.0%
0-24
Critical
over 15.0%
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, medium-sized): better than 81% on solvency, 61% on liquidity, 2% on profitability and 95% on growth.
The bankruptcy probability was computed on 24-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 36 days before the deadline; the sector median (NACE 68) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 25 June (5 of the last 5 filed years within 30 days of that day).
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€36.8m2025Equity€25.4m2025Debt€11.4m2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€21.8m2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin-13.9%2025Return on assets (ROA)-12.5%2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency68.9%2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio3.842025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
Net result-€4.5m--€7.6m▼ 66.6%-€1.0mbelow the sector's middle half▲ 87.1%-€1.7mbelow the sector's middle half▼ 70.6%-€1.3mbelow the sector's middle half▲ 20.1%-€0.6mbelow the sector's middle half▲ 55.8%€0.2mabove the sector's middle half-€4.6mbelow the sector's middle half
Equity€11.9m-€4.3m▼ 63.6%€3.4mabove the sector's middle half▼ 22.5%€1.7mwithin the sector's middle half▼ 49.5%€0.4mwithin the sector's middle half▼ 78.3%-€0.2mbelow the sector's middle half€0.009mbelow the sector's middle half€25.4mabove the sector's middle half▲ 2,863×
Total assets€131.1m-€142.2m▲ 8.5%€3.7mwithin the sector's middle half▼ 97.4%€10.7mabove the sector's middle half▲ 194%€13.5mabove the sector's middle half▲ 26.2%€23.0mabove the sector's middle half▲ 69.6%€30.7mabove the sector's middle half▲ 33.5%€36.8mabove the sector's middle half▲ 20.1%
Working capital-€37.1m-€0.4m€1.9mabove the sector's middle half▲ 329%€1.1mabove the sector's middle half▼ 40.6%€7.9mabove the sector's middle half▲ 612%€14.7mabove the sector's middle half▲ 85.7%€24.2mabove the sector's middle half▲ 64.6%€21.8mabove the sector's middle half▼ 10.1%
Solvency9.1%-3.0%▼ 6.0pp92.0%above the sector's middle half▲ 88.9pp15.8%within the sector's middle half▼ 76.2pp2.7%below the sector's middle half▼ 13.1pp-0.9%below the sector's middle half▼ 3.7pp0.0%below the sector's middle half▲ 1.0pp68.9%within the sector's middle half▲ 68.9pp
Current ratio0.05-1.17▲ 1.127.39above the sector's middle half▲ 6.221.12within the sector's middle half▼ 6.262.92within the sector's middle half▲ 1.793.17above the sector's middle half▲ 0.255.86above the sector's middle half▲ 2.693.84above the sector's middle half▼ 2.02
Return on assets (ROA)-3.5%--5.3%▼ 1.9pp-26.7%below the sector's middle half▼ 21.4pp-15.5%below the sector's middle half▲ 11.2pp-9.8%below the sector's middle half▲ 5.7pp-2.6%below the sector's middle half▲ 7.2pp0.7%within the sector's middle half▲ 3.3pp-12.5%below the sector's middle half▼ 13.3pp
abovewithinbelowthe middle half of NACE 68, Real estate activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
2021Turnover +2,883%, Net result -71% on 2020.Merger absorbing W-Digital, effective 30-10-2020, in the previous financial year; now counts for a full year for the first time.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €36.8m
20.1%
79.9%
Fixed assets€7.4m ▲ 394%
Current assets€29.4m ▲ 0.9%
Equity and liabilities €36.8m
68.9%
31.0%
Equity€25.4m ▲ 2,863×
Provisions€8,000 ▼ 93.7%
Debt€11.4m ▼ 62.6%
Debt's share of the balance-sheet total falls from 99.6% to 31.0%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
Quick ratio
0.60▼
2024 · 1.05
Debt to equity
0.45
ROE
-18.2%
Debt ≤ 1 year
€7.7m▲
2024 · €5.0m
Debt > 1 year
€3.8m▼
2024 · €25.5m
Income taxes
€1,564▲
2024 · €310
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observation
Peer companies
What happened to companies that once looked just like this one does now. It describes the group, not this company: the figures are counted, not predicted.
Of the 6,872 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 85.3% are still going.
20 years or older
solvency 30% or more
a loss of 10% of the balance sheet or more
without size
1.6%went bankrupt
12.7%stopped otherwise
85.3%still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% 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 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
The companies in ten equal groups, from lowest to highest expected share.
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%
0.9%
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 74.5% 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 6,872 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
Filed annual accountsAs filed with the NBB · 2025 against 2024 · 74 lines
Balance sheetCode20242025
Assets
Total assets20/58€30.7m€36.8m▲
Fixed assets21/28€1.5m€7.4m▲
Financial fixed assets28€1.5m€7.4m▲
Affiliated companies280/1€1.5m€7.4m▲
Participating interests280€1.5m€7.4m▲
Current assets29/58€29.2m€29.4m▲
Amounts receivable after more than one year29-€0.6m
Other amounts receivable291-€0.6m
Stocks and contracts in progress3€24.0m€24.8m▲
Stocks30/36€24.0m€24.8m▲
Property held for sale35€24.0m€24.8m▲
Amounts receivable within one year40/41€2.9m€1.7m▼
Trade receivables40€2.9m€1.7m▼
Other amounts receivable41-€310
Cash at bank and in hand54/58€2.1m€2.2m▲
Deferred charges and accrued income490/1€0.2m€0.2m▲
Equity and liabilities
Total equity and liabilities10/49€30.7m€36.8m▲
Equity10/15€0.009m€25.4m▲
Contributions10/11€29.8m€55.8m▲
Capital10€29.8m€55.8m▲
Issued capital100€29.8m€55.8m▲
Reserves13€4.2m€4.2m=
Non-distributable reserves130/1€0.02m€0.02m=
Legal reserve130€0.02m€0.02m=
Tax-exempt reserves132€4.2m€4.2m=
Profit (loss) carried forward14-€34.0m-€34.7m▼
Provisions and deferred taxes16€0.1m€0.008m▼
Provisions for liabilities and charges160/5€0.1m€0.008m▼
Other liabilities and charges164/5€0.1m€0.008m▼
Amounts payable17/49€30.5m€11.4m▼
Amounts payable after more than one year17€25.5m€3.8m▼
Financial debts170/4€25.5m€3.8m▼
Credit institutions173€3.7m€3.8m▲
Other loans174€21.9m-
Amounts payable within one year42/48€5.0m€7.7m▲
Current portion of amounts payable after more than one year42€0.03m€0.8m▲
Trade debts44€4.5m€6.6m▲
Suppliers440/4€4.5m€6.6m▲
Taxes, remuneration and social security45€0.4m€0.2m▼
Taxes450/3€0.4m€0.2m▼
Remuneration and social security454/9€0.002m€0.002m=
Accrued charges and deferred income492/3€0.01m€0.007m▼
Income statementCode20242025
Operating income70/76A€15.7m€26.3m▲
Turnover70€15.7m€24.1m▲
Other operating income74€330€2.2m▲
Operating charges60/66A€14.1m€29.6m▲
Goods for resale, raw materials and consumables60€10.0m€22.3m▲
Purchases600/8€17.1m€27.6m▲
Change in stocks: decrease (increase)609-€7.1m-€5.3m▲
Services and other goods61€3.9m€2.8m▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€0.1m-€0.1m▼
Other operating charges640/8€0.04m€0.06m▲
Non-recurring operating charges66A-€4.5m
Operating profit (loss)9901€1.6m-€3.3m▼
Financial income75/76B€0.05m€0.07m▲
Recurring financial income75€0.05m€0.07m▲
Income from financial fixed assets750-€0.03m
Income from current assets751€0.001m€0.009m▲
Other financial income752/9€0.05m€0.03m▼
Financial charges65/66B€1.5m€1.3m▼
Recurring financial charges65€1.5m€1.3m▼
Debt charges650€1.2m€1.2m▲
Other financial charges652/9€0.3m€0.1m▼
Non-recurring financial charges66B-€2
Profit (loss) for the period before taxes9903€0.2m-€4.6m▼
Income taxes67/77€310€0.002m▲
Taxes670/3€310€0.002m▲
Tax adjustments and reversals of tax provisions77-€310
Profit (loss) for the period9904€0.2m-€4.6m▼
Profit (loss) for the period to be appropriated9905€0.2m-€4.6m▼
Appropriation of the result
Profit (loss) to be appropriated9906-€34.0m-€38.7m▼
Profit (loss) brought forward from the previous period14P-€34.3m-€34.0m▲
Transfer from equity791/2-€4.0m
From reserves792-€4.0m
The notes to these accounts (32 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Line
2018
2019
2020
2021
2022
2023
2024
2025
Change
Operating income70/76A
-
-
-
€1.5m
€8.9m
€10.5m
€15.7m
€26.3m
▲ 67.1%
Turnover70
€0.05m
€0.2m
€0.05m
€1.5m
€8.9m
€10.5m
€15.7m
€24.1m
▲ 53.3%
Other operating income74
-
-
-
-
-
-
€330
€2.2m
▲ 6,578×
Operating charges60/66A
-
-
-
€3.4m
€9.7m
€10.4m
€14.1m
€29.6m
▲ 110%
Goods for resale, raw materials and consumables60
-
-
-
€0.9m
€6.8m
€6.9m
€10.0m
€22.3m
▲ 123%
Purchases600/8
-
-
-
€7.1m
€8.9m
€15.4m
€17.1m
€27.6m
▲ 61.7%
Change in stocks: decrease (increase)609
-
-
-
-€6.2m
-€2.1m
-€8.5m
-€7.1m
-€5.3m
▲ 25.0%
Services and other goods61
-
-
-
€2.5m
€2.8m
€3.0m
€3.9m
€2.8m
▼ 27.0%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630
€0.2m
€0.03m
€0.03m
-
-
-
-
-
-
Provisions for liabilities and charges: additions (uses and reversals)635/8
-
-
-
-
-
-
€0.1m
-€0.1m
-
Other operating charges640/8
-
-
-
€0.006m
€0.06m
€0.5m
€0.04m
€0.06m
▲ 43.7%
Non-recurring operating charges66A
-
-
-
-
-
-
-
€4.5m
-
Operating profit (loss)9901
-€0.2m
-€0.001m
-€0.02m
-€1.9m
-€0.7m
€0.2m
€1.6m
-€3.3m
-
Financial income75/76B
-
-
-
€1.7m
€5.1m
€0.07m
€0.05m
€0.07m
▲ 35.6%
Recurring financial income75
€2.3m
€4.7m
€120.2m
€0.02m
€0.08m
€0.07m
€0.05m
€0.07m
▲ 35.6%
Income from financial fixed assets750
-
-
-
€0.007m
-
-
-
€0.03m
-
Income from current assets751
-
-
-
€0.01m
€0.001m
-
€0.001m
€0.009m
▲ 758%
Other financial income752/9
-
-
-
€0.001m
€0.08m
€0.07m
€0.05m
€0.03m
▼ 39.3%
Non-recurring financial income76B
-
-
-
€1.7m
€5.0m
-
-
-
-
Financial charges65/66B
-
-
-
€1.5m
€5.7m
€0.8m
€1.5m
€1.3m
▼ 7.4%
Recurring financial charges65
€2.3m
€1.6m
€120.9m
€0.1m
€0.3m
€0.8m
€1.5m
€1.3m
▼ 7.4%
Debt charges650
€2.2m
€1.6m
€2.5m
€0.001m
€0.2m
€0.6m
€1.2m
€1.2m
▲ 3.2%
Other financial charges652/9
-
-
-
€0.1m
€0.2m
€0.2m
€0.3m
€0.1m
▼ 49.9%
Non-recurring financial charges66B
-
-
-
€1.3m
€5.4m
-
-
€2
-
Profit (loss) for the period before taxes9903
-€4.5m
-€7.6m
-€0.7m
-€1.7m
-€1.3m
-€0.6m
€0.2m
-€4.6m
-
Income taxes67/77
€0.003m
-
€0.3m
-€0.001m
-
-
€310
€0.002m
▲ 405%
Taxes670/3
-
-
-
-
-
-
€310
€0.002m
▲ 505%
Tax adjustments and reversals of tax provisions77
-
-
-
€0.001m
-
-
-
€310
-
Profit (loss) for the period9904
-€4.5m
-€7.6m
-€1.0m
-€1.7m
-€1.3m
-€0.6m
€0.2m
-€4.6m
-
Profit (loss) for the period to be appropriated9905
-€4.5m
-€7.6m
-€1.0m
-€1.7m
-€1.3m
-€0.6m
€0.2m
-€4.6m
-
Line
2018
2019
2020
2021
2022
2023
2024
2025
Change
Assets
Total assets20/58
€131.1m
€142.2m
€3.7m
€10.7m
€13.5m
€23.0m
€30.7m
€36.8m
▲ 20.1%
Fixed assets21/28
€129.2m
€139.2m
€1.5m
€0.6m
€1.5m
€1.5m
€1.5m
€7.4m
▲ 394%
Intangible fixed assets21
€0.1m
€0.1m
-
-
-
-
-
-
-
Financial fixed assets28
€129.1m
€139.1m
€1.5m
€0.6m
€1.5m
€1.5m
€1.5m
€7.4m
▲ 394%
Affiliated companies280/1
-
-
-
€0.6m
€1.5m
€1.5m
€1.5m
€7.4m
▲ 394%
Participating interests280
-
-
-
€0.6m
€1.5m
€1.5m
€1.5m
€7.4m
▲ 394%
Current assets29/58
€1.9m
€3.1m
€2.2m
€10.1m
€12.0m
€21.5m
€29.2m
€29.4m
▲ 0.9%
Amounts receivable after more than one year29
-
-
-
-
-
-
-
€0.6m
-
Other amounts receivable291
-
-
-
-
-
-
-
€0.6m
-
Stocks and contracts in progress3
-
-
-
€6.2m
€8.4m
€16.9m
€24.0m
€24.8m
▲ 3.4%
Stocks30/36
-
-
-
€6.2m
€8.4m
€16.9m
€24.0m
€24.8m
▲ 3.4%
Property held for sale35
-
-
-
€6.2m
€8.4m
€16.9m
€24.0m
€24.8m
▲ 3.4%
Amounts receivable within one year40/41
€1.8m
€2.2m
€1.9m
€3.6m
€0.4m
€0.7m
€2.9m
€1.7m
▼ 42.6%
Trade receivables40
-
-
-
€0.1m
€0.4m
€0.6m
€2.9m
€1.7m
▼ 42.6%
Other amounts receivable41
-
-
-
€3.5m
€0.05m
€0.01m
-
€310
-
Cash at bank and in hand54/58
€0.04m
€0.2m
€0.2m
€0.1m
€3.1m
€3.3m
€2.1m
€2.2m
▲ 5.7%
Deferred charges and accrued income490/1
-
-
-
€0.3m
€0.2m
€0.6m
€0.2m
€0.2m
▲ 0.3%
Equity and liabilities
Total equity and liabilities10/49
€131.1m
€142.2m
€3.7m
€10.7m
€13.5m
€23.0m
€30.7m
€36.8m
▲ 20.1%
Equity10/15
€11.9m
€4.3m
€3.4m
€1.7m
€0.4m
-€0.2m
€0.009m
€25.4m
▲ 2,863×
Contributions10/11
€29.8m
€29.8m
€29.8m
€29.8m
€29.8m
€29.8m
€29.8m
€55.8m
▲ 87.1%
Capital10
-
-
-
€29.8m
€29.8m
€29.8m
€29.8m
€55.8m
▲ 87.1%
Issued capital100
-
-
-
€29.8m
€29.8m
€29.8m
€29.8m
€55.8m
▲ 87.1%
Reserves13
€4.2m
€4.2m
€4.2m
€4.2m
€4.2m
€4.2m
€4.2m
€4.2m
=
Non-distributable reserves130/1
-
-
-
€0.02m
€0.02m
€0.02m
€0.02m
€0.02m
=
Legal reserve130
-
-
-
€0.02m
€0.02m
€0.02m
€0.02m
€0.02m
=
Tax-exempt reserves132
-
-
-
€4.2m
€4.2m
€4.2m
€4.2m
€4.2m
=
Profit (loss) carried forward14
-€22.2m
-€29.7m
-€30.7m
-€32.4m
-€33.7m
-€34.3m
-€34.0m
-€34.7m
▼ 1.8%
Provisions and deferred taxes16
-
-
-
-
-
-
€0.1m
€0.008m
▼ 93.7%
Provisions for liabilities and charges160/5
-
-
-
-
-
-
€0.1m
€0.008m
▼ 93.7%
Other liabilities and charges164/5
-
-
-
-
-
-
€0.1m
€0.008m
▼ 93.7%
Amounts payable17/49
€119.2m
€137.9m
€0.3m
€9.0m
€13.2m
€23.2m
€30.5m
€11.4m
▼ 62.6%
Amounts payable after more than one year17
€80.0m
€135.0m
-
-
€9.0m
€16.4m
€25.5m
€3.8m
▼ 85.3%
Financial debts170/4
-
-
-
-
€9.0m
€16.4m
€25.5m
€3.8m
▼ 85.3%
Credit institutions173
-
-
-
-
€1.7m
€3.4m
€3.7m
€3.8m
▲ 2.6%
Other loans174
-
-
-
-
€7.4m
€13.0m
€21.9m
-
-
Amounts payable within one year42/48
€39.1m
€2.6m
€0.3m
€9.0m
€4.1m
€6.8m
€5.0m
€7.7m
▲ 54.0%
Current portion of amounts payable after more than one year42
-
-
-
-
-
-
€0.03m
€0.8m
▲ 23×
Financial debts43
-
-
-
€0.2m
-
-
-
-
-
Credit institutions430/8
-
-
-
€0.2m
-
-
-
-
-
Trade debts44
€0.03m
€0.004m
€0.02m
€1.4m
€3.9m
€6.6m
€4.5m
€6.6m
▲ 46.3%
Suppliers440/4
-
-
-
€1.4m
€3.9m
€6.6m
€4.5m
€6.6m
▲ 46.3%
Taxes, remuneration and social security45
-
-
-
-
€0.2m
€0.2m
€0.4m
€0.2m
▼ 40.4%
Taxes450/3
-
-
-
-
€0.2m
€0.2m
€0.4m
€0.2m
▼ 40.6%
Remuneration and social security454/9
-
-
-
-
-
-
€0.002m
€0.002m
=
Other amounts payable47/48
-
-
-
€7.5m
-
-
-
-
-
Accrued charges and deferred income492/3
-
-
-
€382
€135
-
€0.01m
€0.007m
▼ 43.3%
Line
2018
2019
2020
2021
2022
2023
2024
2025
Change
Profit (loss) for the period9904
-€4.5m
-€7.6m
-€1.0m
-€1.7m
-€1.3m
-€0.6m
€0.2m
-€4.6m
-
+ Depreciation and write-downs630
€0.2m
€0.03m
€0.03m
-
-
-
-
-
-
Operating cash flow (approximation)
-€4.3m
-€7.5m
-€0.9m
-€1.7m
-€1.3m
-€0.6m
€0.2m
-€4.6m
-
Investment in fixed assets (approximation)
-
-€10.0m
€137.7m
€0.9m
-€0.9m
€0
€0
-€5.9m
-
Change in cash
-
€0.2m
€0.03m
-€0.1m
€3.0m
€0.3m
-€1.3m
€0.1m
-
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Of the 7,228 active companies whose main activity is buying and selling of own real estate (NACE 68110), figures are known for 5,496. 623 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
Directors
Who runs the company today and since when, grouped the way the KBO groups its office holders. Many recent board changes are a reason to keep a close eye.
6 directors, 1 in day-to-day management, no change since 2026
Director · since 22-12-2025 · Private limited company · permanent representative: Peter Alain ARTOIS
Current
2 not recently confirmed
Still in office according to the deeds, but no deed of the last six years confirms the mandate. Mandates like this have often ended since, in a deed we have not read yet.
Who held which function and when, per person: one bar per period, from appointment to resignation or to today. An open left edge means the mandate began before the oldest act we hold.
According to the 2025 annual accounts of KORAMIC DEVELOPMENT PROJECTS and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it.
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 include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
Capital and shareholders
When capital was put in or taken out. An increase often strengthens the company; a reduction deserves a look.
According to the 2025 annual accounts of KORAMIC DEVELOPMENT PROJECTS and those of the other companies, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it.
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 include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
Connections & network
Which other companies are linked to this one through directors or shares. Look especially for linked companies in trouble.
66 connected companies
Depth
Shared directorsBundled connections
This companyCompanyDirectorShareholding+N: links not shown yetClick a node to look further, drag to arrange, zoom with the mouse wheel.
BE 0433.787.562merger by absorption · Gazette deed of 01-02-2021 (2 acts) · effective 30-10-2020
History
History
The company's story in a few sentences, from the company register, the Belgian Official Gazette and the filed annual accounts. Each number opens the document the sentence rests on.
On 17 March 1960, KORAMIC DEVELOPMENT PROJECTS was incorporated.1The name was changed to KORAMIC DEVELOPMENT in 2021 and to KORAMIC DEVELOPMENT PROJECTS in 2026.23In 2005 the registered office moved to Kortrijk.4The capital was increased 2 times between 2012 and 2026, most recently to €59.8m.53W-Digital was merged into the company in 2020.6Of the 6 current board members, VdB Advisory Comm. V. has served longest, since 2022.7Turnover went from €50,000 in 2020 to €24.1m in 2025.8
Gazette deedResignations: Christian DUMOLIN (bestuurder, gedelegeerd bestuurder en voorzitter van de raad van bestuur) and BERT WEEMAES (director)
Appointments: KORAMIC REAL ESTATE INVESTMENT, PATRIOS and Carl VAN DEN EYNDE · Permanent representatives: Christian DUMOLIN and Peter Alain ARTOIS · Name change19 facts ▸
General meeting, 22-12-2025
Name change, KORAMIC DEVELOPMENT PROJECTS
Bank account, “Belfius Bank nv, bijzondere rekening” (deed in Dutch)
Capital, €59,841,408
Capital decrease, €4,000,000
Director resignation, Christian DUMOLIN (bestuurder, gedelegeerd bestuurder en voorzitter van de raad van bestuur)
Director appointment, KORAMIC REAL ESTATE INVESTMENT (director)
Permanent representative, Christian DUMOLIN
Declaration, “geen verbodsbepaling, noch gezegde vennootschap noch hijzelf is getroffen door enige verbodsbepaling die zich daartegen verzet” (deed in Dutch) (2 times)
Director appointment, PATRIOS (director)
Permanent representative, Peter Alain ARTOIS
Director resignation, BERT WEEMAES (director)
+7 further facts in this act
2025
31-12
FinancialEquity above €25mequity €25.4m ▲286,231%
Equity rises from €8,867 to €25.4m.
15-09
Gazette deedReappointment: Carl Van den Eynde (director)
Resignations: Kouter Services BV, VDB Advisory CommV. and Oliver Management Consulting BV · Permanent representatives: Cathy Vincent, Dimitri Van den Bossche and 2 others · Appointment: Edge of Change BV (director)10 facts ▸
General meeting, 24-05-2025
Director reappointment, Carl Van den Eynde (director)
Director resignation, Kouter Services BV (director)
Permanent representative, Cathy Vincent
Director resignation, VDB Advisory CommV. (director)
Permanent representative, Dimitri Van den Bossche
Director resignation, Oliver Management Consulting BV (director)
Permanent representative, Bart Vermeulen
Director appointment, Edge of Change BV (director)
Permanent representative, Pieter Blondeel
25-06
NBB filingAnnual accounts filed
financial year 2024 · full format
2024
31-12
FinancialBack to profitnet €226,726
Net result €226,726 after 6 loss-making years.
19-09
Gazette deedAppointments: Oliver Management Consulting BV (director) and Carl Van den Eynde (director)
Permanent representatives: Bart Vermeulen, Jimmy Sterckx and Cathy Vincent · Resignation: Sterckx Business Services BV (director and managing director)12 facts ▸
General meeting, 25-05-2024
Director appointment, Oliver Management Consulting BV (director)
Permanent representative, Bart Vermeulen
Board meeting, 13-06-2024
Director resignation, Sterckx Business Services BV (director and managing director)
Permanent representative, Jimmy Sterckx
Director appointment, Carl Van den Eynde (director)
Director appointment, Carl Van den Eynde (managing director)
Director in office, Kouter Services BV (director)
Permanent representative, Cathy Vincent
Director in office, VdB Advisory Comm. V. (director)
Other provision, “vermelding bij bestuurder, listed with VdB Advisory Comm. V. under Bestuurder” (deed in Dutch)
02-07
NBB filingAnnual accounts filed
financial year 2023 · full format
07-03
Gazette deedAppointment: Christian Lecluyse (director)
2 facts ▸
General meeting, 23-01-2024
Director appointment, Christian Lecluyse (director)
09-02
Gazette deedAppointment: Sterckx Business Services BV (director)
Permanent representatives: Jimmy Sterckx and Bart Vermeulen · Resignation: Oliver Management Consulting BV (managing director)8 facts ▸
General meeting, 10-01-2024
Director appointment, Sterckx Business Services BV (director)
Permanent representative, Jimmy Sterckx
Board meeting, 10-01-2024
Director resignation, Oliver Management Consulting BV (managing director)
Director in office, Oliver Management Consulting BV (director)
Permanent representative, Bart Vermeulen
Director appointment, Sterckx Business Services BV (managing director)
2023
23-11
Gazette deedResignation: THred BV (director and managing director)
Permanent representatives: Antoon Honings and Bart Vermeulen · Appointment: Oliver Management Consulting BV (director)6 facts ▸
Board meeting, 31-10-2023
Director resignation, THred BV (director and managing director)
Permanent representative, Antoon Honings
Director appointment, Oliver Management Consulting BV (director)
Permanent representative, Bart Vermeulen
Director appointment, Oliver Management Consulting BV (managing director)
Director resignation, Odon BV (director and managing director)
Director resignation, NVE BV (director)
Director resignation, Oliver Management Consulting BV (director)
Director appointment, Thred BV (director)
Director appointment, Kouter Services BV (director)
Director appointment, Thred BV (managing director)
16-09
Gazette deedResignation: Liberty Associates SRL (director and managing director)
Appointment: Odon BV (managing director) · Permanent representatives: Hilde Famaey and Yves Van Hooland5 facts ▸
Board meeting, 01-09-2022
Director resignation, Liberty Associates SRL (director and managing director)
Director appointment, Odon BV (managing director)
Permanent representative, Hilde Famaey
Permanent representative, Yves Van Hooland
29-07
Gazette deedAppointments: ODON BV (director) and OLIVER MANAGEMENT CONSULTING BV (director)
Permanent representatives: Hilde Famaey and Bart Vermeulen5 facts ▸
General meeting, 24-06-2022
Director appointment, ODON BV (director)
Permanent representative, Hilde Famaey
Director appointment, OLIVER MANAGEMENT CONSULTING BV (director)
Permanent representative, Bart Vermeulen
01-07
NBB filingAnnual accounts filed
financial year 2021 · full format
16-06
Gazette deedResignations: Oliver Management Consulting BV (director and managing director) and Bert Weemaes BV (director)
Appointments: Liberty Associates SRL, NVE BV and 2 others · Permanent representatives: Yves Van Hooland, Nicolas Van Eupen and Dimitri Van den Bossche12 facts ▸
General meeting, 15-04-2022
Director resignation, Oliver Management Consulting BV (director and managing director)
Director resignation, Bert Weemaes BV (director)
Director appointment, Liberty Associates SRL (director)
Permanent representative, Yves Van Hooland
Director appointment, NVE BV (director)
Permanent representative, Nicolas Van Eupen
Director appointment, VdB Advisory Comm.V. (director)
Permanent representative, Dimitri Van den Bossche
Board meeting, 15-04-2022
Director appointment, Christian Dumolin (managing director)
Director appointment, Liberty Associates SRL (managing director)
2021
01-09
Gazette deedResignations: VLAEMMINCK BV (director) and DUMOLIN Christian (managing director)
Appointments: BERT WEEMAES (director) and OLIVER Management Consulting (director) · Permanent representatives: WEEMAES Bert and VERMEULEN Bart · Reappointment: DUMOLIN Christian (director)14 facts ▸
General meeting, 18-08-2021
Name change, KORAMIC DEVELOPMENT
Amendment of the articles
Director resignation, VLAEMMINCK BV (director)
Director appointment, BERT WEEMAES (director)
Permanent representative, WEEMAES Bert
Director appointment, OLIVER Management Consulting (director)
Permanent representative, VERMEULEN Bart
Director reappointment, DUMOLIN Christian (director)
Board meeting, 18-08-2021
Director reappointment, DUMOLIN Christian (chair of the board)
Director appointment, BERT WEEMAES (managing director)
+2 further facts in this act
23-06
NBB filingAnnual accounts filed
financial year 2020 · full format
01-02
Gazette deedAmendment of the articles · Restructuring
Net result drops to -€7.6m, the lowest in the series; recovery starts the following year.
31-12
FinancialLiquidity more than 23 timescurrent ratio 1.17
Current ratio from 0.05 to 1.17; short-term debt falls from €39.1m to €2.6m.
18-06
NBB filingAnnual accounts filed
financial year 2018 · full format
2018
27-06
NBB filingAnnual accounts filed
financial year 2017 · full format
20-03
Gazette deedResignation: Ivan Van den Bulcke (director)
2 facts ▸
General meeting, 31-01-2018
Director resignation, Ivan Van den Bulcke (director)
2017
12-09
Gazette deedResignations: Deloitte Bedrijfsrevisoren BV, Ivan van den Bulcke and Veerle Vercaigne
Permanent representatives: Kurt Dehoorne and Dirk Van Vlaenderen · Reappointments: Deloitte Bedrijfsrevisoren BV, Ivan van den Bulcke and Veerle Vercaigne9 facts ▸
General meeting, 27-05-2017
Director resignation, Deloitte Bedrijfsrevisoren BV (statutory auditor)
Director resignation, Ivan van den Bulcke (director)
Name change · Registered-office move · Purpose change8 facts ▸
General meeting, 13-07-2005
Name change, Koramic Industries
Registered-office move, 8500 Kortrijk, Ter Bede Business Center, Kapel ter Bede 84
Purpose change, “Voor eigen rekening, voor rekening van derden of in deelneming met derden, zelf of door bemiddeling van elke andere natuurlijke of rechtspersoon, in Belgie of i…” (deed in Dutch)
Gazette deedPermanent representatives: Christian Dumolin and Paul Behets
Appointment: Christian Dumolin (chair)4 facts ▸
Board meeting, 08-09-2004
Permanent representative, Christian Dumolin
Permanent representative, Paul Behets
Director appointment, Christian Dumolin (chair)
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 49 annual accounts filed, the latest 10 are here; all 49 are under Financials.
30 of 30 deeds read
Register details
Identification
Legal formPublic limited company
Founded17-03-1960
Financial year end31-12
Abbreviation NLKODEV
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68121Development of residential building projects
68122Development of non-residential building projects
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID0208:0400281485
Also9925:BE0400281485
Registered15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation
If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number
0400.281.485
Environmental permits
21 applications in Flanders since 2021 · 12 granted · 1 refused · 1 under review
Registered office, Kortrijk · 1 establishment unit since 1960
The establishment unit on the mapLoading the map
registered officeestablishmentThe establishment unit on the map
Ground area
1.5 ha
Building footprint
392 m²
Building volume
4,504 m³
Parcel 34353B0292/00H000, Flanders · tallest building 12.7 m. Linked by address, not a title deed.
1 establishment unit
Koramic Industries
Kapel ter Bede(Kor) 84, 8500 KortrijkActivities of holding companies
since 1960unit no. 2.004.791.743
1 parcel
Flanders1(100%)
Cadastral parcel
Region
Area
Buildings
Height / floors
34353B0292/00H000
Flanders
1.5 ha
1 · 392 m²
12.7 m · 4
How the parcels are linked
Good to know
The parcel matches the address exactly.
Articles of association
What the company does
PurposeThe activities the company may carry out under its articles.
“Voor eigen rekening, voor rekening van derden of in deelneming met derden, zelf of door bemiddeling van elke andere natuurlijke of…” (deed in Dutch)
Text of the purpose (deed in Dutch)
“Voor eigen rekening, voor rekening van derden of in deelneming met derden, zelf of door bemiddeling van elke andere natuurlijke of rechtspersoon, in België of in het buitenland alle prestaties te verrichten die rechtstreeks of onrechtstreeks betrekking hebben op: 1. Het nemen van participaties... 2. Het waarnemen van bestuurs- en vereffeningsmandaten... 3. Het toestaan van leningen... 4. Het oordeelkundig uitbreiden van haar roerend en onroerend patrimonium... 5. Het verlenen van financiële, administratieve, commerciële, juridische, fiscale, technische en consultatieve bijstand... 6. Het uitvoeren van alle studies en onderzoek... 7. Het optreden als tussenpersoon bij de aan- en verkoop van onroerende goederen... 8. Het ontwikkelen, kopen, verkopen, beheer, valoriseren, in licentie nemen of geven van brevetten, octrooien, know-how en andere intellectuele rechten. 9. De uitbating van kleigroeven en de aan- en verkoop van grondstoffen voor de keramische industrie, het uitvoeren van grondwerken. 10. De aan- en verkoop, huur- en verhuur en leasing van machines en materieel. 11. Het ontplooien van alle informatica-activiteiten... 12. Het aan- en verkopen, huren en verhuren en leasen van alle voertuigen, vaartuigen en vliegtuigen.”
Other provisionsOther rules from the articles that fall under none of the themes above.
Reserve release: “Aanzuivering van geleden verlies of verhoging van het kapitaal door omzetting van reserves, niet aan aandeelhouders uitgekeerd, behoudens in…” (deed in Dutch)