CORTIBAT
ActiveSummary
CORTIBAT has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €42k and a net result of €-16k. Equity remains stable across the filed fiscal years (±1.8% per year). Its solvency ranks better than 30% of 3549 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
50
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability6▲+6
Solvency51▼-3
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity tight (current ratio 1.02 against 1.08 in 2023; short-term debt: 68.8% and cash: 20.6% of total assets), and 74.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven 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
Sector 43
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
25.8%
Return on assets
-10%
Age of the figures
21 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
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-16k
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 25-06-2025, 36 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
36 d early
2023
on the day
2022
46 d early
2021
37 d late
2020
31 d late
2019
27 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€268k
EBIT margin
-1.5%
Net result
€-16k▲ 64.5%
2023 · €-46k
2018: €12k
2019: €32k
2020: €-10k
2021: €18k
2022: €2k
2023: €-46k
2018 → 2024
Working capital
€2k▼ 76.9%
2023 · €10k
2018: €14k
2019: €59k
2020: €24k
2021: €46k
2022: €49k
2023: €10k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€268k-
Equity€73k-€90k▲ 24.1%€105k▲ 16.5%€59k▼ 44.1%€42k▼ 28.0%
Operating result€-4k-€17k€3k▼ 82.8%€-44k€-12k▲ 72.4%
Net result€-10k-€18k€2k▼ 86.5%€-46k€-16k▲ 64.5%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €12k in 2024 against €44k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €164k
Fixed assets
€49k ▼ 12.7%
Current assets
€115k ▼ 20.9%
Equity and liabilities €164k
Equity
€42k ▼ 28.0%
Debt
€122k ▼ 14.7%
Debt's share of the balance-sheet total rises from 70.8% to 74.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€-5k▲
2023 · €-32k
Cash flow
€-9k▲
2023 · €-34k
Current ratio
1.02▼
2023 · 1.08
Quick ratio
1.00▼
2023 · 1.06
Debt to equity
2.88▲
2023 · 2.43
ROE
-38.9%▲
2023 · -78.9%
ROA
-10.0%▲
2023 · -23.0%
Interest coverage
-1.36▲
2023 · -12.66
Debt ≤ 1 year
€113k▼
2023 · €135k
Income taxes
€637
Staff costs
€274k▼
2023 · €275k
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 · 2024 against 2023 · 55 lines
Balance sheet
Code20232024
Assets
Total assets20/58€202k€164k▼
Fixed assets21/28€56k€49k▼
Tangible fixed assets22/27€18k€11k▼
Plant, machinery and equipment23€10k€7k▼
Furniture and vehicles24€8k€3k▼
Financial fixed assets28€38k€38k=
Current assets29/58€146k€115k▼
Stocks and contracts in progress3€3k€2k▼
Stocks30/36€3k€2k▼
Amounts receivable within one year40/41€126k€64k▼
Trade receivables40€73k€18k▼
Other amounts receivable41€52k€46k▼
Cash at bank and in hand54/58€7k€34k▲
Deferred charges and accrued income490/1€11k€15k▲
Equity and liabilities
Total equity and liabilities10/49€202k€164k▼
Equity10/15€59k€42k▼
Contributions10/11€38k€38k=
Reserves13€68k€68k=
Non-distributable reserves130/1€546€546=
Reserves not available under the articles1311€546€546=
Tax-exempt reserves132€51k€51k=
Distributable reserves133€16k€16k=
Profit (loss) carried forward14€-46k€-63k▼
Amounts payable17/49€143k€122k▼
Amounts payable after more than one year17€3k-
Financial debts170/4€3k-
Amounts payable within one year42/48€135k€113k▼
Current portion of amounts payable after more than one year42€12k-
Financial debts43€30k-
Credit institutions430/8€30k-
Trade debts44€5k€18k▲
Suppliers440/4€5k€18k▲
Taxes, remuneration and social security45€8k€3k▼
Remuneration and social security454/9€8k€3k▼
Other amounts payable47/48€81k€92k▲
Accrued charges and deferred income492/3€5k€9k▲
Income statement
Code20232024
Non-recurring operating income76A€16k€3k▼
Remuneration, social security and pensions62€275k€274k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€7k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€-13k€-2k▲
Other operating charges640/8€557€1k▲
Non-recurring operating charges66A€2k€56k▲
Gross operating margin9900€233k€323k▲
Operating profit (loss)9901€-44k€-12k▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€-46k€-16k▲
Income taxes67/77-€637
Profit (loss) for the period9904€-46k€-16k▲
Profit (loss) for the period to be appropriated9905€-46k€-16k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-46k€-63k▼
Profit (loss) brought forward from the previous period14P-€-46k
Social balance
Average headcount (FTE)9087-6.7
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
25-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-46k ▼2052%
Net result drops to €-46k, the lowest in the series; recovery starts the following year.
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €100kEq €105k ▲16.5%
2 profitable years in a row build equity to €105k.
06-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 37 days late
2021
31-12
Financial
Back to profitnet €18k
Net result €18k after one loss-making year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
27-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
31-12
Financial
Highest result since 2018net €32k ▲175%
Operating result €28k, net result €32k, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
27-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
10 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, Neupré · 1 establishment unit since 2010
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.
Rue Sart-Laurent(RR) 394120 NeupréGround area
516 m²
Building footprint
105 m²
Volume, LiDAR
766 m³
Parcel 62090C0030/00L000, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
CORTIBAT
since 20102.188.082.646
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62090C0030/00L000 | Wallonia | 516 m² | 1 · 105 m² | 8.8 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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KNAEPEN SIEGFRIED
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JAW CONSTRUCT
BE 0502.297.375
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W&E Construct
BE 1011.255.286
Ukkel · Eq €42,277
Of 15,529 companies in sector 43990 we hold annual accounts for 7,423. 5,982 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formCooperative company
Founded30-03-2010
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.