Korsen
ActiveThe computed 12-month bankruptcy probability of Korsen is 2.3% (moderate). The annual accounts of Korsen for fiscal year 2024 show a net loss of 53% of the equity at the start of that year. The 2024 annual accounts show equity of €18k and a net result of €-20k. Equity is shrinking by ~21.9% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2027. Its solvency ranks better than 35% of 26052 sector peers (fiscal year 2024). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
37
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability0▼-64
Solvency41▼-18
Growth32=
Track record100
Bankruptcy probability, 12 months
2.3%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.16 against 1.48 in 2023; short-term debt: 84.3% and cash: 33.2% of total assets), and 84.3% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
15.7%
Return on assets
-17.6%
Age of the figures
21 mo
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 14-07-2025, 17 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
17 d early
2023
29 d late
2022
21 d late
2021
46 d early
2020
67 d late
2019
29 d early
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Equity
€18k▼ 52.7%
2023 · €37k
2019: €45k
2020: €71k
2021: €48k
2022: €36k
2023: €37k
2019 → 2024
Total assets
€112k▲ 1.9%
2023 · €110k
2019: €93k
2020: €114k
2021: €60k
2022: €57k
2023: €110k
2019 → 2024
Net result
€-20k
2023 · €2k
2019: €26k
2020: €26k
2021: €-24k
2022: €-12k
2023: €2k
2019 → 2024
Working capital
€15k▼ 57.6%
2023 · €35k
2019: €32k
2020: €57k
2021: €47k
2022: €33k
2023: €35k
2019 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€71k-€48k▼ 33.0%€36k▼ 25.6%€37k▲ 4.7%€18k▼ 52.7%
Operating result€27k-€-5k€-3k▲ 36.1%€7k€-15k
Net result€26k-€-24k€-12k▲ 48.0%€2k€-20k
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €15k after €7k in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €112k
Fixed assets
€3k▲ 27.8%
Current assets
€109k▲ 1.4%
Equity and liabilities €112k
Equity
€18k▼ 52.7%
Debt
€94k▲ 30.0%
The debt ratio rises from 66.1% to 84.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-14k▼
2023 · €8k
Cash flow
€-18k▼
2023 · €3k
Solvency
15.7%▼
2023 · 33.9%
Current ratio
1.16▼
2023 · 1.48
Quick ratio
0.64▼
2023 · 0.66
Debt / equity
5.36▲
2023 · 1.95
ROE
-111.6%▼
2023 · 4.5%
ROA
-17.6%▼
2023 · 1.5%
Interest coverage
-4.46▼
2023 · 5.15
Debt
€94k▲
2023 · €73k
Debt ≤ 1 year
€94k▲
2023 · €73k
Income taxes
€1k▼
2023 · €4k
Staff costs
€51k▲
2023 · €34k
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€110k€112k▲
Fixed assets21/28€2k€3k▲
Tangible fixed assets22/27€2k€3k▲
Plant, machinery and equipment23€2k€3k▲
Current assets29/58€108k€109k▲
Stocks and contracts in progress3€60k€49k▼
Stocks30/36€60k€49k▼
Amounts receivable within one year40/41€16k€23k▲
Trade receivables40€5k€8k▲
Other amounts receivable41€11k€15k▲
Cash at bank and in hand54/58€32k€37k▲
Deferred charges and accrued income490/1€220€220=
Equity and liabilities
Total equity and liabilities10/49€110k€112k▲
Equity10/15€37k€18k▼
Contributions10/11€19k€19k=
Reserves13€17k-
Distributable reserves133€17k-
Profit (loss) carried forward14€2k€-1k▼
Amounts payable17/49€73k€94k▲
Amounts payable within one year42/48€73k€94k▲
Financial debts43-€18k
Credit institutions430/8-€18k
Trade debts44€22k€27k▲
Suppliers440/4€22k€27k▲
Taxes, remuneration and social security45€8k€8k▲
Taxes450/3€3k€3k▼
Remuneration and social security454/9€5k€5k▲
Other amounts payable47/48€43k€41k▼
Income statement
Code20232024
Remuneration, social security and pensions62€34k€51k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€989€1k▲
Other operating charges640/8€2k€2k▼
Gross operating margin9900€44k€39k▼
Operating profit (loss)9901€7k€-15k▼
Financial charges65/66B€2k€3k▲
Recurring financial charges65€2k€3k▲
Profit (loss) for the period before taxes9903€6k€-18k▼
Income taxes67/77€4k€1k▼
Profit (loss) for the period9904€2k€-20k▼
Profit (loss) for the period to be appropriated9905€2k€-20k▼
Appropriation of the result
Profit (loss) to be appropriated9906€2k€-18k▼
Profit (loss) brought forward from the previous period14P-€2k
Transfer from equity791/2-€17k
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
31-12
Financial
Back to profitnet €2k
Net result €2k after 2 loss-making years.
21-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 21 days late
2022
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-24k ▼189%
Net result drops to €-24k, the lowest in the series; recovery starts the following year.
06-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 67 days late
2020
31-12
Financial
Highest result since 2019net €26k ▲0.8%
Operating result €27k, net result €26k, both a record.
02-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Edegem · 1 establishment unit since 2018
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.
Romeinse Put 522650 EdegemGround area
988 m²
Building footprint
203 m²
Volume, LiDAR
1,056 m³
2 parcels, Flanders · tallest building 9.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Korsen
since 20182.283.804.919
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11602C0176/00W005 | Flanders | 783 m² | 1 · 122 m² | 5.4 m · 1 fl. |
| 11472B0198/00K000 | Flanders | 205 m² | 1 · 81 m² | 9.2 m · 3 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
2024 · 1 entry · 2,000 EUR awarded · 2,000 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 2,000 EUR | 2,000 EUR |
Schemes
Hinderpremie bij openbare werken
Recognitions · licences · registrations
Food safety, FASFC
1 siteKontich2.283.804.919
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Of 1,266 companies in sector 47300 we hold annual accounts for 946. 501 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded14-12-2018
Fiscal year end31-12
Activities, NACEBEL
47300Retail sale of automotive fuel
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.