MOLCOR
ActiveSummary
MOLCOR has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€548,251) and a net result of -€436,392. Equity is shrinking by ~50.5% per year across the filed fiscal years. Its solvency ranks better than 5% of 4613 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-36
Solvency0▼-11
Growth36▼-16
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.32 against 0.81 in 2024; short-term debt: 281.7% and cash: 7.8% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+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 · 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 2025Solvency, return and age of the figures
Solvency
-181.7%
Return on assets
-144.7%
Age of the figures
9 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year -€548,251
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 17-07-2026, 14 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
14 d early
2024
29 d early
2023
27 d late
2022
24 d late
2021
20 d early
2020
19 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
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. Usually files around 17 July (4 of the last 5 filed years within 38 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€5.0m▲ 2.6%
2020 · €4.9m
EBIT margin
0.2%▼ 0.6pp
2020 · 0.8%
Net result
-€436,392▼ 3,665%
2024 · -€11,592
Working capital
-€576,174▼ 237%
2024 · -€170,949
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€5.0m▲ 2.6%
Operating result€10,806▼ 73.3%€241,267▲ 2,133%-€255,554€3,046-€410,448
Net result-€41,443below the sector's middle half▼ 212%€152,557above the sector's middle half-€259,617below the sector's middle half-€11,592within the sector's middle half▲ 95.5%-€436,392below the sector's middle half▼ 3,665%
EBIT margin0.2%▼ 0.6pp
Equity€6,791below the sector's middle half▼ 85.9%€159,348within the sector's middle half▲ 2,246%-€100,268below the sector's middle half-€111,860below the sector's middle half▼ 11.6%-€548,251below the sector's middle half▼ 390%
Total assets€2.1mwithin the sector's middle half▲ 115%€1.5mwithin the sector's middle half▼ 28.1%€985,024within the sector's middle half▼ 35.4%€801,148within the sector's middle half▼ 18.7%€301,678below the sector's middle half▼ 62.3%
Debt€2.1m▲ 126%€1.4m▼ 35.4%€1.1m▼ 20.5%€913,008▼ 15.9%€849,929▼ 6.9%
Working capital€6,791within the sector's middle half▼ 85.9%€159,348within the sector's middle half▲ 2,246%-€190,524below the sector's middle half-€170,949below the sector's middle half▲ 10.3%-€576,174below the sector's middle half▼ 237%
Solvency0.3%below the sector's middle half▼ 4.6pp10.5%within the sector's middle half▲ 10.1pp-10.2%below the sector's middle half▼ 20.6pp-14.0%below the sector's middle half▼ 3.8pp-181.7%below the sector's middle half▼ 167.8pp
Current ratio1.00within the sector's middle half▼ 0.051.12within the sector's middle half▲ 0.110.82within the sector's middle half▼ 0.290.81within the sector's middle half▼ 0.010.32below the sector's middle half▼ 0.49
Return on assets (ROA)-2.0%below the sector's middle half▼ 0.6pp10.0%above the sector's middle half▲ 12.0pp-26.4%below the sector's middle half▼ 36.4pp-1.4%within the sector's middle half▲ 24.9pp-144.7%below the sector's middle half▼ 143.2pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result -3,665% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €410,448 after €3,046 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €301,678
Fixed assets
€27,922 ▼ 52.7%
Current assets
€273,756 ▼ 63.1%
Key figures and ratios
EBITDA
-€379,281▼
2024 · €34,213
Cash flow
-€405,225▼
2024 · €19,575
Debt to equity
-1.55▲
2024 · -8.16
Interest coverage
-14.62▼
2024 · 2.34
Debt ≤ 1 year
€849,929▼
2024 · €913,008
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,010 companies that looked in July 2024 the way this one looks now, 7.9% went bankrupt within 24 months and 83% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.9%
went bankrupt
8.4%
stopped otherwise
83%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,010 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €5.0m | - | - | - | - | - |
| Turnover70 | €5.0m | - | - | - | - | - |
| Other operating income74 | €4,538 | - | - | - | - | - |
| Non-recurring operating income76A | - | - | €200 | €69,285 | €9,265 | ▼ 86.6% |
| Operating charges60/66A | €5.0m | - | - | - | - | - |
| Goods for resale, raw materials and consumables60 | €4.7m | - | - | - | - | - |
| Purchases600/8 | €4.8m | - | - | - | - | - |
| Change in stocks: decrease (increase)609 | -€168,887 | - | - | - | - | - |
| Services and other goods61 | €32,983 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €3,245 | €31,167 | €31,167 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €34,000 | €0 | ▼ 100% |
| Other operating charges640/8 | €302,936 | €61,363 | €188,810 | €32,514 | €34,106 | ▲ 4.9% |
| Non-recurring operating charges66A | - | €400 | €0 | €7,594 | €0 | ▼ 100% |
| Gross operating margin9900 | - | €303,031 | -€63,500 | €108,322 | -€345,175 | ▼ 419% |
| Operating profit (loss)9901 | €10,806 | €241,267 | -€255,554 | €3,046 | -€410,448 | ▼ 13,574% |
| Financial income75/76B | - | €0 | €497 | €0 | €0 | ▼ 33.3% |
| Recurring financial income75 | - | €0 | €497 | €0 | €0 | ▼ 33.3% |
| Financial charges65/66B | €52,249 | €53,042 | €613 | €14,638 | €25,944 | ▲ 77.2% |
| Recurring financial charges65 | €52,249 | €53,042 | €613 | €14,638 | €25,944 | ▲ 77.2% |
| Debt charges650 | €21,322 | - | - | - | - | - |
| Other financial charges652/9 | €30,927 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€41,443 | €188,226 | -€255,670 | -€11,592 | -€436,392 | ▼ 3,665% |
| Income taxes67/77 | - | €35,668 | €3,946 | €0 | - | - |
| Profit (loss) for the period9904 | -€41,443 | €152,557 | -€259,617 | -€11,592 | -€436,392 | ▼ 3,665% |
| Profit (loss) for the period to be appropriated9905 | -€41,443 | €152,557 | -€259,617 | -€11,592 | -€436,392 | ▼ 3,665% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.1m | €1.5m | €985,024 | €801,148 | €301,678 | ▼ 62.3% |
| Fixed assets21/28 | - | - | €90,256 | €59,089 | €27,922 | ▼ 52.7% |
| Intangible fixed assets21 | - | - | €90,256 | €59,089 | €27,922 | ▼ 52.7% |
| Current assets29/58 | €2.1m | €1.5m | €894,768 | €742,059 | €273,756 | ▼ 63.1% |
| Amounts receivable after more than one year29 | - | €19,000 | €20,900 | €0 | - | - |
| Other amounts receivable291 | - | €19,000 | €20,900 | €0 | - | - |
| Stocks and contracts in progress3 | €233,835 | €111,350 | €33,405 | €11,135 | €0 | ▼ 100% |
| Stocks30/36 | €233,835 | €111,350 | €33,405 | €11,135 | €0 | ▼ 100% |
| Property held for sale35 | €233,835 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1.9m | €1.3m | €802,774 | €488,092 | €237,658 | ▼ 51.3% |
| Trade receivables40 | €1.9m | €169,290 | €501,222 | €411,634 | €237,658 | ▼ 42.3% |
| Other amounts receivable41 | - | €1.1m | €301,552 | €76,458 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €10,687 | €109,981 | €16,089 | €229,061 | €23,623 | ▼ 89.7% |
| Deferred charges and accrued income490/1 | - | €10,000 | €21,600 | €13,771 | €12,475 | ▼ 9.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.1m | €1.5m | €985,024 | €801,148 | €301,678 | ▼ 62.3% |
| Equity10/15 | €6,791 | €159,348 | -€100,268 | -€111,860 | -€548,251 | ▼ 390% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | - | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Non-distributable reserves130/1 | - | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | - | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Profit (loss) carried forward14 | -€54,709 | €91,698 | -€167,918 | -€179,510 | -€615,901 | ▼ 243% |
| Amounts payable17/49 | €2.1m | €1.4m | €1.1m | €913,008 | €849,929 | ▼ 6.9% |
| Amounts payable within one year42/48 | €2.1m | €1.4m | €1.1m | €913,008 | €849,929 | ▼ 6.9% |
| Financial debts43 | €1.5m | - | - | - | - | - |
| Credit institutions430/8 | €1.5m | - | - | - | - | - |
| Trade debts44 | €53,034 | €280,539 | €660,285 | €724,505 | €365,976 | ▼ 49.5% |
| Suppliers440/4 | €53,034 | €280,539 | €660,285 | €724,505 | €365,976 | ▼ 49.5% |
| Taxes, remuneration and social security45 | €544,551 | €1.1m | €150,000 | €0 | €451 | - |
| Taxes450/3 | €544,551 | €1.1m | €150,000 | €0 | €451 | - |
| Other amounts payable47/48 | - | €10,000 | €275,007 | €188,503 | €483,503 | ▲ 156% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€41,443 | €152,557 | -€259,617 | -€11,592 | -€436,392 | ▼ 3,665% |
| + Depreciation and write-downs630 | - | - | €3,245 | €31,167 | €31,167 | = |
| Operating cash flow (approximation) | -€41,443 | €152,557 | -€256,372 | €19,575 | -€405,225 | ▼ 2,170% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | - |
| Change in cash | - | €99,294 | -€93,893 | €212,972 | -€205,438 | ▼ 196% |
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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet -€436,392
Net result drops to -€436,392, the lowest in the series.
02-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 27 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 24 days late
2022
31-12
Financial
Back to profitnet €152,557
Net result €152,557 after 2 loss-making years.
31-12
Financial
Equity above €150,000Eq €159,348 ▲2,246%
Equity rises from €6,791 to €159,348.
11-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Bilzen-Hoeselt
Ground area
1.7 ha
Building footprint
1.2 ha
Volume, LiDAR
162,430 m³
Parcel 73032G0284/00C000, Flanders · tallest building 15.9 m, ±5 floors. Linked by address, not a title deed.
40
companies at this address
See who is registered here
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73032G0284/00C000 | Flanders | 1.7 ha | 1 · 1.2 ha | 15.8 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
C2F1
46 companies
Group, risk and exposure
Owners and holdings
2 ownersChain of control
- C2F1
- CORDEEL GROUP
- CORDEEL BELGIUM
- MOLCOR
Highest known parent: C2F1. The sources do not say who stands above it.
Owners 2
- CORDEEL BELGIUMparent99.9%
-
1%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. 5,334 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
Founded02-04-2019
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0723941187
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.