KORTIM
ActiveSummary
KORTIM has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €568k and a net result of €-12k. Equity remains stable across the filed fiscal years (±1.5% per year). Its solvency ranks better than 29% of 27965 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability36▲+4
Solvency53▼-3
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity short (current ratio 0.1 against 0.04 in 2024; short-term debt: 72.4% and cash: 0.8% of total assets), and 72.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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 · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
192021222425
2019 to 2025 · latest year €-12k
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-02-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
3 d late
2022
1 d early
2021
on the day
2020
2 d early
2019
27 d late
2018
13 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€568k▼ 2.0%
2024 · €579k
2019: €624k
2020: €624k▼ -0.1% vs 2019
2021: €624k▲ +0.1% vs 2020
2022: €624k● +0.0% vs 2021highest value
2024: €579k
2025: €568k▼ -2.0% vs 2024lowest value
2019 → 2025
Total assets
€2.06M▲ 8.6%
2024 · €1.89M
2019: €1.90M
2020: €1.89M▼ -0.8% vs 2019
2021: €1.88M▼ -0.2% vs 2020lowest value
2022: €1.89M▲ +0.5% vs 2021
2024: €1.89M
2025: €2.06M▲ +8.6% vs 2024highest value
2019 → 2025
Net result
€-12k▲ 73.9%
2024 · €-45k
2019: €1khighest value
2020: €-524▼ -147% vs 2019
2021: €712▲ +236% vs 2020
2022: €122▼ -82.9% vs 2021
2024: €-45klowest value
2025: €-12k▲ +73.9% vs 2024
2019 → 2025
Working capital
€-1.34M▼ 5.8%
2024 · €-1.26M
2019: €-1.23M
2020: €-1.23M▲ +0.4% vs 2019
2021: €-1.22M▲ +0.5% vs 2020
2022: €-1.22M▲ +0.1% vs 2021highest value
2024: €-1.26M
2025: €-1.34M▼ -5.8% vs 2024lowest value
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220242025Trend
Equity€624k-€624k▲ 0.1%€624k=€579k▼ 7.2%€568k▼ 2.0%
2020: €624k
2021: €624k▲ +0.1% vs 2020
2022: €624k● +0.0% vs 2021highest value
2024: €579k
2025: €568k▼ -2.0% vs 2024lowest value
Operating result€8k-€9k▲ 13.7%€10k▲ 11.5%€15k▲ 48.9%€42k▲ 173%
2020: €8klowest value
2021: €9k▲ +13.7% vs 2020
2022: €10k▲ +11.5% vs 2021
2024: €15k
2025: €42k▲ +173% vs 2024highest value
Net result€-524-€712€122▼ 82.9%€-45k€-12k▲ 73.9%
2020: €-524
2021: €712▲ +236% vs 2020highest value
2022: €122▼ -82.9% vs 2021
2024: €-45klowest value
2025: €-12k▲ +73.9% vs 2024
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 rises in 2025; 2025 is 173% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.06M
Fixed assets
€1.90M ▲ 3.4%
Current assets
€151k ▲ 206%
Equity and liabilities €2.06M
Equity
€568k ▼ 2.0%
Debt
€1.49M ▲ 13.3%
Debt's share of the balance-sheet total rises from 69.4% to 72.4%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
0.10▲
2024 · 0.04
Debt to equity
2.62▲
2024 · 2.27
ROE
-2.1%▲
2024 · -7.7%
ROA
-0.6%▲
2024 · -2.4%
Debt ≤ 1 year
€1.49M▲
2024 · €1.31M
Staff costs
€446k▲
2024 · €167k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.89M€2.06M▲
Fixed assets21/28€1.84M€1.90M▲
Tangible fixed assets22/27€93k€93k=
Plant, machinery and equipment23€0-
Furniture and vehicles24€0-
Other tangible fixed assets26€93k€93k=
Financial fixed assets28€1.75M€1.81M▲
Current assets29/58€49k€151k▲
Amounts receivable within one year40/41€34k€135k▲
Trade receivables40€34k€105k▲
Other amounts receivable41-€30k
Cash at bank and in hand54/58€15k€16k▲
Equity and liabilities
Total equity and liabilities10/49€1.89M€2.06M▲
Equity10/15€579k€568k▼
Contributions10/11€75k€75k=
Capital10€75k€75k=
Issued capital100€75k€75k=
Reserves13€2k€2k=
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Profit (loss) carried forward14€503k€491k▼
Amounts payable17/49€1.31M€1.49M▲
Amounts payable within one year42/48€1.31M€1.49M▲
Trade debts44€471€735▲
Suppliers440/4€471€735▲
Taxes, remuneration and social security45€16k€60k▲
Taxes450/3€4k€7k▲
Remuneration and social security454/9€12k€53k▲
Other amounts payable47/48€1.30M€1.43M▲
Income statement
Code20242025
Goods, raw materials, services and sundry goods60/61-€9k
Remuneration, social security and pensions62€167k€446k▲
Other operating charges640/8€285€305▲
Gross operating margin9900€183k€488k▲
Operating profit (loss)9901€15k€42k▲
Financial charges65/66B€60k€54k▼
Recurring financial charges65€60k€54k▼
Profit (loss) for the period before taxes9903€-45k€-12k▲
Income taxes67/77€163-
Profit (loss) for the period9904€-45k€-12k▲
Profit (loss) for the period to be appropriated9905€-45k€-12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€503k€491k▼
Profit (loss) brought forward from the previous period14P€547k€503k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | €5k | - | €9k | - |
| Remuneration, social security and pensions62 | - | - | €95k | €167k | €446k | ▲ 166% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6k | €6k | €703 | - | - | - |
| Other operating charges640/8 | - | - | €231 | €285 | €305 | ▲ 7.0% |
| Gross operating margin9900 | €84k | €106k | €106k | €183k | €488k | ▲ 167% |
| Operating profit (loss)9901 | €8k | €9k | €10k | €15k | €42k | ▲ 173% |
| Recurring financial income75 | €20 | €173 | - | - | - | - |
| Financial charges65/66B | - | - | €10k | €60k | €54k | ▼ 10.5% |
| Recurring financial charges65 | €9k | €9k | €10k | €60k | €54k | ▼ 10.5% |
| Profit (loss) for the period before taxes9903 | €-524 | €712 | €486 | €-45k | €-12k | ▲ 73.8% |
| Income taxes67/77 | - | - | €364 | €163 | - | - |
| Profit (loss) for the period9904 | €-524 | €712 | €122 | €-45k | €-12k | ▲ 73.9% |
| Profit (loss) for the period to be appropriated9905 | €-524 | €712 | €122 | €-45k | €-12k | ▲ 73.9% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.89M | €1.88M | €1.89M | €1.89M | €2.06M | ▲ 8.6% |
| Fixed assets21/28 | €1.85M | €1.84M | €1.84M | €1.84M | €1.90M | ▲ 3.4% |
| Tangible fixed assets22/27 | €99k | €93k | €93k | €93k | €93k | = |
| Plant, machinery and equipment23 | - | - | - | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €0 | - | - |
| Other tangible fixed assets26 | - | - | €93k | €93k | €93k | = |
| Financial fixed assets28 | €1.75M | €1.75M | €1.75M | €1.75M | €1.81M | ▲ 3.5% |
| Current assets29/58 | €38k | €39k | €49k | €49k | €151k | ▲ 206% |
| Amounts receivable within one year40/41 | €28k | €29k | €18k | €34k | €135k | ▲ 294% |
| Trade receivables40 | - | - | €17k | €34k | €105k | ▲ 206% |
| Other amounts receivable41 | - | - | €393 | - | €30k | - |
| Cash at bank and in hand54/58 | €10k | €11k | €31k | €15k | €16k | ▲ 5.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.89M | €1.88M | €1.89M | €1.89M | €2.06M | ▲ 8.6% |
| Equity10/15 | €624k | €624k | €624k | €579k | €568k | ▼ 2.0% |
| Contributions10/11 | €75k | €75k | €75k | €75k | €75k | = |
| Capital10 | - | - | €75k | €75k | €75k | = |
| Issued capital100 | - | - | €75k | €75k | €75k | = |
| Reserves13 | €2k | €2k | €2k | €2k | €2k | = |
| Non-distributable reserves130/1 | - | - | €2k | €2k | €2k | = |
| Legal reserve130 | - | - | €2k | €2k | €2k | = |
| Profit (loss) carried forward14 | €547k | €548k | €548k | €503k | €491k | ▼ 2.3% |
| Amounts payable17/49 | €1.26M | €1.26M | €1.27M | €1.31M | €1.49M | ▲ 13.3% |
| Amounts payable within one year42/48 | €1.26M | €1.26M | €1.27M | €1.31M | €1.49M | ▲ 13.3% |
| Trade debts44 | €14k | €2k | - | €471 | €735 | ▲ 56.1% |
| Suppliers440/4 | - | - | - | €471 | €735 | ▲ 56.1% |
| Taxes, remuneration and social security45 | - | - | €3k | €16k | €60k | ▲ 265% |
| Taxes450/3 | - | - | €812 | €4k | €7k | ▲ 60.0% |
| Remuneration and social security454/9 | - | - | €2k | €12k | €53k | ▲ 341% |
| Other amounts payable47/48 | - | - | €1.26M | €1.30M | €1.43M | ▲ 10.1% |
| Line | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-524 | €712 | €122 | €-45k | €-12k | ▲ 73.9% |
| + Depreciation and write-downs630 | €6k | €6k | €703 | - | - | - |
| Operating cash flow (approximation) | €5k | €6k | €825 | €-45k | €-12k | ▲ 73.9% |
| Investment in fixed assets (approximation) | - | €77 | €0 | - | €-62k | - |
| Change in cash | - | €714 | €20k | - | €747 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
03-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 3 days late
2024
30-06
Financial
Weakest financial yearnet €-45k
Net result drops to €-45k, the lowest in the series; recovery starts the following year.
2023
30-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Back to profitnet €712
Net result €712 after one loss-making year.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
27-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 27 days late
2019
13-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 13 days late
2018
15-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
14-01
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.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 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, Ingelmunster · 1 establishment unit since 2000
Ground area
2.3 ha
Building footprint
1,786 m²
Volume, LiDAR
9,686 m³
2 parcels, Flanders · tallest building 11.1 m, ±2 floors. Linked by address, not a title deed.
25
companies at this address
See who is registered here
1 establishment unit
Oostrozebekestraat 56, 8770 Ingelmunster
since 20002.099.909.448
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36007B0904/00R000 | Flanders | 2.3 ha | 1 · 1,637 m² | 11.1 m · 2 fl. |
| 36007B0906/00T002 | Flanders | 175 m² | 1 · 149 m² | - |
Linked by address, not proof of ownership
Good to know
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 · 3 entries · 2,514 EUR awarded · 2,514 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,027 EUR | 2,027 EUR |
| 2023 | 1 | 337 EUR | 337 EUR |
| 2022 | 1 | 150 EUR | 150 EUR |
Schemes
Individueel Maatwerk
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Dual-learning approval
3 live approvalsBinnen- en buitenschrijnwerk duaal (so)
Machinaal houtbewerker duaal (so)
Operator CNC-gestuurde houtbewerkingsmachines duaal (so)
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DE SCHOUWER
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SCHRIJNWERKERIJ LONCKE
BE 0416.679.633
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CHASSIS OFFERMANS
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Of 20,018 companies in sector 43320 we hold annual accounts for 9,132. 5,687 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded18-10-2000
Fiscal year end30-06
Activities, NACEBEL 2025
43320Joinery installation
Scores and ratios are computed by Checked and are not a credit decision.