Losses
-€56,475 in two years
The 2024 and 2025 financial years closed with a loss. 2024 was the heaviest.
KORTIM
Lifetime
17 annual accounts with figures on one time axis, 24 filings since 2001peak €487,973 (2025)
€487,973▲ 167%
lowest -€44,787 (2024)
-€11,688▲ €33,099
peak €624,421 (2022)
€567,541▼ 2.0%
€1.5m▲ 13.3%
peak 5 FTE (2014)
-not published
Board1 name since 2024
1 directorDe Poorter Pieter
Documentsfilings and deeds
27-02-202627 days late
2025micro format
Gross margin from €182,980 to €487,973Loss of €11,688
Key points
from the 2025 annual accountsTurnover
≈ €1.4m estimated
The accounts state no turnover.
Debts
€1.5m 72% of the balance sheet
Suppliers 0%Taxes and wages 4%Other 96%
Filings
24 annual accounts since 2001
Four of the last ten came late. The 2019 accounts came latest: 27 days after the end of the period.
At the same address
24 companies
Position in the sector
-€11,688
Lower net result than 89% of companies in specialised construction. Sector median €10,184 · 35,124 companies.
Checked score
86
Excellent
Financially stronger than 19% of small companies in specialised construction (NACE 43)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.3% across 2,647 companies (NACE 43, small).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.5%
01-2025: 2.5%● unchanged vs 12-2024
02-2025: 3.5%▲ +1.0 percentage point vs 01-2025highest value
03-2025: 0.2%▼ -3.3 percentage points vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025
08-2025: 0.2%● unchanged vs 07-2025
09-2025: 0.2%● unchanged vs 08-2025
10-2025: 0.3%▲ +0.1 percentage points vs 09-2025
11-2025: 0.3%● unchanged vs 10-2025
12-2025: 0.3%● unchanged vs 11-2025
01-2026: 0.3%● unchanged vs 12-2025
02-2026: 0.6%▲ +0.3 percentage points vs 01-2026
03-2026: 0.1%▼ -0.5 percentage points vs 02-2026lowest value
04-2026: 0.1%● unchanged vs 03-2026lowest value
05-2026: 0.1%● unchanged vs 04-2026lowest value
06-2026: 0.1%● unchanged vs 05-2026lowest value
07-2026: 0.1%● unchanged vs 06-2026lowest value
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.2%▲ +0.1 percentage points vs 09-2026
11-2026: 0.2%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Sector: Specialised construction activities (NACE 43)
Liquidity: current ratio 0.10, cash €15,629
lowers risk
Size: total assets €2.1m
Founded in 2000
Calculation
The band follows from the bankruptcy probability. 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 43, small). It does better than 34% of them on solvency, 5% on liquidity, 14% on profitability and 25% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 30-06-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Credit verdict
Credit of up to €45,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.1 (0.04 in 2024), below 1. Short-term debt is 72.4% and cash 0.8% of total assets. 72.4% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
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 -€11,688
raises risk · 2025 accounts filed 27 days late
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. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
27 days late
2024
3 days late
2022
1 day early
2021
on the day
2020
2 days early
2019
27 days late
2018
13 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 10 days after the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-06-2026 is due by 31-01-2027. Nothing is late today. The company usually files around 31 January (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-06-2026 year end10-11-2026 today31-01-2027 deadline
Recent changes
First establishment
Oostrozebekestraat 56, Ingelmunster
Incorporation
published on 26-10-2000 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| KORTIM Ingelmunster | €2.1m | €487,973 | 27.6% | - |
| FERRAM Deerlijk | €2.2m | €452,126 | 54.8% | 4.8 |
| MEUBELS DECLERCK Alveringem | €2.1m | €442,203 | 28.8% | 3 |
| DE SMEDT METAALCONSTRUCTIE Roeselare | €2.1m | €436,405 | 71.5% | 3.2 |
| DD PROJECTS Heusden-Zolder | €1.9m | €513,089 | 20.3% | 10.6 |
| MICHEL LINCHET Somme-Leuze | €2.1m | €435,844 | 56.3% | 3.4 |
| CLPA Kaprijke | €1.9m | €536,573 | 37.1% | - |
These companies have the same main activity as KORTIM: joinery installation (NACE 43320). They are comparable in size and age: total assets between €1.9m and €2.2m, founded between 1997 and 2001.
Official details
Source: KBO- Status
- Active since 18-10-2000Normal situation
- Registered office
- 25 active companies are registered at this addressSource: KBO register, as of 10 November 2026.
- Activity
- Joinery installationNACE 43320
- Joint committees
- 124Construction
- 126Furnishing and woodworking
- 200Auxiliary committee for white-collar workers · annual accounts 30-06-2024
- Establishment unit
- 2.099.909.4488770 Ingelmunster, since 22-11-2000
- Financial year end
- 30 June
- Peppol
- Reachable
Insights on KORTIM
KORTIM files the micro format. That format states no turnover. The gross margin rose from €181,152 in 2008 to €487,973 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about KORTIM
- What is the company number of KORTIM?
- The company number of KORTIM is 0473.045.244. The VAT number is the same number with BE in front: BE 0473.045.244.
- Where is KORTIM based?
- The registered office is at Oostrozebekestraat 54, 8770 Ingelmunster.Company details
- What does KORTIM do?
- According to the KBO register, the main activity is joinery installation (NACE 43320).
- What is the legal form of KORTIM?
- KORTIM is a public limited company (NV).
- When was KORTIM founded?
- KORTIM was founded on 18-10-2000.
- Is KORTIM still active?
- Yes, KORTIM is an active enterprise in the KBO register.
- How many employees does KORTIM have?
- KORTIM had an average of 2.8 full-time equivalents in financial year 2024, according to the filed annual accounts.Financials
- Which joint committee does KORTIM fall under?
- In its 30-06-2024 annual accounts, KORTIM states joint committees 124 (Construction), 126 (Furnishing and woodworking) and 200 (Auxiliary committee for white-collar workers).
- What is the turnover of KORTIM?
- The turnover in financial year 2025 is ≈ €1.4m. This figure is estimated from the gross margin of €487,973 and 61 comparable companies (NACE 433). It probably lies between €1.0m and €1.8m.
- Is KORTIM profitable?
- In financial year 2025, KORTIM made a loss of €11,688.
- Where can I find the annual accounts of KORTIM?
- KORTIM filed 24 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of KORTIM due?
- KORTIM must file the annual accounts for financial year 2026 by 31-01-2027.Timeline
Next steps
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