Korma Solar
ActiveKorma Solar has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €389k and a net result of €107k. Equity is growing by ~4% per year across the filed fiscal years. Its solvency ranks better than 56% of 179 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
86
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability90▲+7
Solvency87▼-13
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 2.13 against 22.57 in 2024; short-term debt: 38% and cash: 77% of total assets), and 38.4% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 35
Relative position
BE, all sectors
reference
Sector 35
lower
← fewer bankruptcies
more bankruptcies →
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
61.6%
Return on assets
17%
Age of the figures
9 mo
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
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 31-05-2026, 61 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
61 d early
2024
on the day
2023
69 d early
2022
32 d early
2021
31 d early
2020
62 d early
2019
66 d early
← 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
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€389k▼ 19.3%
2024 · €481k
2018: €323k
2019: €346k
2020: €390k
2021: €448k
2022: €357k
2023: €422k
2024: €481k
2018 → 2025
Total assets
€631k▲ 25.8%
2024 · €502k
2018: €683k
2019: €592k
2020: €484k
2021: €475k
2022: €614k
2023: €460k
2024: €502k
2018 → 2025
Net result
€107k▲ 81.6%
2024 · €59k
2018: €40k
2019: €23k
2020: €43k
2021: €58k
2022: €130k
2023: €65k
2024: €59k
2018 → 2025
Working capital
€272k▼ 27.2%
2024 · €373k
2018: €-169k
2019: €-142k
2020: €-48k
2021: €95k
2022: €93k
2023: €231k
2024: €373k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€448k-€357k▼ 20.2%€422k▲ 18.2%€481k▲ 14.0%€389k▼ 19.3%
Operating result€79k-€175k▲ 121%€87k▼ 50.6%€81k▼ 6.7%€147k▲ 82.0%
Net result€58k-€130k▲ 124%€65k▼ 49.8%€59k▼ 9.3%€107k▲ 81.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 82% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €631k
Fixed assets
€120k▲ 7.3%
Current assets
€511k▲ 31.0%
Equity and liabilities €631k
Equity
€389k▼ 19.3%
Debt
€243k▲ 1,082%
The debt ratio rises from 4.1% to 38.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€234k▲
2024 · €164k
Cash flow
€194k▲
2024 · €143k
Solvency
61.6%▼
2024 · 95.9%
Current ratio
2.13▼
2024 · 22.57
Quick ratio
2.13▼
2024 · 22.57
Debt / equity
0.62▲
2024 · 0.04
ROE
27.6%▲
2024 · 12.3%
ROA
17.0%▲
2024 · 11.8%
Interest coverage
1557.33▼
2024 · 6852.93
Debt
€243k▲
2024 · €21k
Debt ≤ 1 year
€240k▲
2024 · €17k
Income taxes
€40k▲
2024 · €22k
Staff costs
€968▲
2024 · €294
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€502k€631k▲
Fixed assets21/28€112k€120k▲
Tangible fixed assets22/27€112k€120k▲
Plant, machinery and equipment23€101k€108k▲
Furniture and vehicles24€11k€11k▲
Current assets29/58€390k€511k▲
Amounts receivable within one year40/41€30k€18k▼
Trade receivables40€4k€15k▲
Other amounts receivable41€27k€2k▼
Cash at bank and in hand54/58€344k€486k▲
Deferred charges and accrued income490/1€16k€8k▼
Equity and liabilities
Total equity and liabilities10/49€502k€631k▲
Equity10/15€481k€389k▼
Contributions10/11€20k€20k=
Capital10€20k€20k=
Issued capital100€20k€20k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€459k€367k▼
Amounts payable17/49€21k€243k▲
Amounts payable within one year42/48€17k€240k▲
Trade debts44€1k€4k▲
Suppliers440/4€1k€4k▲
Advances received on contracts in progress46€9k-
Taxes, remuneration and social security45€7k€20k▲
Taxes450/3€7k€20k▲
Other amounts payable47/48-€216k
Accrued charges and deferred income492/3€3k€3k▼
Income statement
Code20242025
Remuneration, social security and pensions62€294€968▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€84k€87k▲
Other operating charges640/8€451€465▲
Gross operating margin9900€165k€236k▲
Operating profit (loss)9901€81k€147k▲
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€24€150▲
Recurring financial charges65€24€150▲
Profit (loss) for the period before taxes9903€81k€147k▲
Income taxes67/77€22k€40k▲
Profit (loss) for the period9904€59k€107k▲
Profit (loss) for the period to be appropriated9905€59k€107k▲
Appropriation of the result
Profit (loss) to be appropriated9906€459k€567k▲
Profit (loss) brought forward from the previous period14P€400k€459k▲
Profit to be distributed694/7-€200k
Return on contributions (dividend)694-€200k
The notes to these accounts (4 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
31-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 22.57
Current ratio from 7.20 to 22.57; short-term debt falls from €37k to €17k.
23-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity times 5current ratio 7.20
Current ratio from 1.37 to 7.20; short-term debt falls from €254k to €37k.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €130k ▲124%
Operating result €175k, net result €130k, both a record.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity times 9current ratio 4.47
Current ratio from 0.49 to 4.47; short-term debt falls from €94k to €27k.
30-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet €23k ▼43.2%
Net result drops to €23k, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-07
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
2 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, Leuven · 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.
Leopold Decouxlaan 1133012 LeuvenGround area
506 m²
Building footprint
111 m²
Volume, LiDAR
680 m³
Parcel 24126D0371/00G000, Flanders · tallest building 10.4 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Korma Solar
since 20112.198.656.537
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24126D0371/00G000 | Flanders | 506 m² | 1 · 111 m² | 10.4 m · 2 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.
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Of 815 companies in sector 35110 we hold annual accounts for 631. 425 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded11-03-2011
Fiscal year end31-12
Activities, NACEBEL
35110Production of electricity from non-renewable sources
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.