KORFINE is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €2.02M and a net result of €862k. Equity is growing by ~23.4% per year across the filed fiscal years. Its solvency ranks better than 11% of 486 sector peers (fiscal year 2025). The company has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 11% of 486 sector peers (2025).
NBB · sector comparisonPosition among 486 sector peers
Solvency
better than 11%
← weakest
strongest →
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 27-07-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
22 d early
2023
30 d early
2022
11 d early
2021
11 d early
2020
15 d early
2019
70 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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Equity
€2.02M▲ 21.8%
2024 · €1.66M
2018: €432k
2019: €578k
2020: €781k
2021: €1.01M
2022: €1.12M
2023: €1.28M
2024: €1.66M
2018 → 2025
Net result
€862k▲ 130%
2024 · €375k
2018: €110k
2019: €146k
2020: €203k
2021: €234k
2022: €101k
2023: €168k
2024: €375k
2018 → 2025
Total assets
€38.55M▼ 0.4%
2024 · €38.72M
2018: €27.87M
2019: €35.15M
2020: €35.38M
2021: €34.38M
2022: €41.47M
2023: €39.95M
2024: €38.72M
2018 → 2025
Solvency
5.2%▲ 1.0pp
2024 · 4.3%
2018: 1.5%
2019: 1.6%
2020: 2.2%
2021: 3.0%
2022: 2.7%
2023: 3.2%
2024: 4.3%
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€9.65M
Equity€1.01M-€1.12M▲ 9.9%€1.28M▲ 15.1%€1.66M▲ 29.2%€2.02M▲ 21.8%
Operating result€326k-€39k▼ 88.2%€11k▼ 71.3%€283k▲ 2,462%€873k▲ 208%
Net result€234k-€101k▼ 56.8%€168k▲ 67.0%€375k▲ 123%€862k▲ 130%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 208% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €38.55M
Fixed assets
€22.21M▼ 1.5%
Current assets
€16.34M▲ 1.0%
Equity and liabilities €38.55M
Equity
€2.02M▲ 21.8%
Provisions
€4.00M▲ 60.0%
Debt
€32.53M▼ 5.9%
The debt ratio falls from 89.3% to 84.4%. Equity is higher and debt is lower.
Key figures and ratios
Solvency
5.2%▲
2024 · 4.3%
ROE
42.6%▲
2024 · 22.6%
ROA
2.2%▲
2024 · 1.0%
Debt
€32.53M▼
2024 · €34.56M
Debt ≤ 1 year
€32.53M▼
2024 · €34.56M
Income taxes
€334k▲
2024 · €164k
Staff costs
€1.50M▼
2024 · €1.98M
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€38.72M€38.55M▼
Fixed assets21/28€22.54M€22.21M▼
Intangible fixed assets21€1.34M€1.01M▼
Financial fixed assets28€21.20M€21.20M=
Affiliated companies280/1-€21.20M
Participating interests280-€21.20M
Current assets29/58€16.18M€16.34M▲
Amounts receivable within one year40/41€7.65M€5.44M▼
Trade receivables40€6k€9k▲
Other amounts receivable41€7.64M€5.43M▼
Current investments50/53€3.00M€3.10M▲
Other investments51/53-€3.10M
Cash at bank and in hand54/58€5.49M€7.76M▲
Deferred charges and accrued income490/1€41k€41k▲
Equity and liabilities
Total equity and liabilities10/49€38.72M€38.55M▼
Equity10/15€1.66M€2.02M▲
Contributions10/11€163k€163k=
Capital10€163k€163k=
Issued capital100€200k€200k=
Uncalled capital101€38k€38k=
Reserves13€20k€20k=
Non-distributable reserves130/1€20k€20k=
Legal reserve130€20k€20k=
Profit (loss) carried forward14€1.48M€1.84M▲
Provisions and deferred taxes16€2.50M€4.00M▲
Provisions for liabilities and charges160/5€2.50M€4.00M▲
Other liabilities and charges164/5€2.50M€4.00M▲
Amounts payable17/49€34.56M€32.53M▼
Amounts payable within one year42/48€34.56M€32.53M▼
Trade debts44€1.92M€4.17M▲
Suppliers440/4€1.92M€4.17M▲
Taxes, remuneration and social security45€282k€370k▲
Taxes450/3€82k€219k▲
Remuneration and social security454/9€200k€151k▼
Other amounts payable47/48€32.36M€27.99M▼
Accrued charges and deferred income492/3€46-
Income statement
Code20242025
Operating income70/76A-€10.54M
Turnover70-€9.65M
Other operating income74-€277k
Non-recurring operating income76A€501k€612k▲
Operating charges60/66A-€9.67M
Services and other goods61-€6.34M
Remuneration, social security and pensions62€1.98M€1.50M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€465k€330k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€2.00M€1.50M▼
Other operating charges640/8€1k€1k▲
Non-recurring operating charges66A€426€50▼
Gross operating margin9900€4.73M-
Operating profit (loss)9901€283k€873k▲
Financial income75/76B€279k€344k▲
Recurring financial income75€279k€343k▲
Income from financial fixed assets750-€343k
Other financial income752/9-€5
Non-recurring financial income76B-€624
Financial charges65/66B€23k€20k▼
Recurring financial charges65€23k€20k▼
Debt charges650-€20k
Other financial charges652/9-€663
Profit (loss) for the period before taxes9903€540k€1.20M▲
Income taxes67/77€164k€334k▲
Taxes670/3-€334k
Profit (loss) for the period9904€375k€862k▲
Profit (loss) for the period to be appropriated9905€375k€862k▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.48M€2.34M▲
Profit (loss) brought forward from the previous period14P€1.10M€1.48M▲
Profit to be distributed694/7-€500k
Return on contributions (dividend)694-€500k
Social balance
Average headcount (FTE)908726.422.9▼
The notes to these accounts (37 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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Highest result since 2018net €862k ▲130%
Operating result €873k, net result €862k, both a record.
31-12
Financial
Equity above €2MEq €2.02M ▲21.8%
8 profitable years in a row build equity to €2.02M.
09-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Weakest financial yearnet €101k ▼56.8%
Net result drops to €101k, the lowest in the series; recovery starts the following year.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1MEq €1.01M ▲29.9%
4 profitable years in a row build equity to €1.01M.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
09-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 70 days late
2019
31-12
Financial
Equity above €500kEq €578k ▲33.7%
2 profitable years in a row build equity to €578k.
02-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
27-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Kortrijk · 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.
Nijverheidskaai(Kor) 38500 KortrijkGround area
818 m²
Building footprint
1,824 m²
Volume, LiDAR
25,728 m³
Parcel 34352F0358/00W002, Flanders · tallest building 23.0 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
KORFINE
since 20112.199.189.245
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34352F0358/00W002 | Flanders | 818 m² | 1 · 1,824 m² | 22.9 m · 5 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 9 entries · 40,913 EUR awarded · 40,913 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 2,648 EUR | 2,648 EUR |
| 2024 | 2 | 11,825 EUR | 11,825 EUR |
| 2023 | 2 | 20,558 EUR | 20,558 EUR |
| 2022 | 3 | 5,882 EUR | 5,882 EUR |
Schemes
Vlaamse ondersteuningspremie (VOP) voor werkgevers (uitdovend stelsel)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Vlaams opleidingsverlof (VOV)
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Of 4,687 companies in sector 66220 we hold annual accounts for 3,231. 1,653 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded08-04-2011
Fiscal year end31-12
Activities, NACEBEL
66220Insurance agents and brokers
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.