KORMAX
KORMAX has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €25k and a net result of €-6k. Equity is growing by ~4% per year across the filed fiscal years. Its solvency ranks better than 58% of 52 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).
| Equity | €25k |
| Net result | €-6k |
| Better than sector | 58% |
| Active | 13 yrs |
Mixed profile: strong on stability, weaker on profitability.
All 5 axes are computed from data Checked has read.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 38.6% | 32.8% | |
| Net result | €-6k | €24k | |
| Equity | €25k | €72k | |
| Gross operating margin | €-990 | €50k | |
| Total assets | €65k | €409k |
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 |
|---|---|---|---|
| Deposit | full schema | full schema | full schema |
| Revenue | - | - | - |
| EBITDA | €-2k | €14k | €3k |
| Net profit | €-6k | €8k | €-6k |
| Cash flow | €-2k | €14k | €2k |
| Staff costs | - | - | - |
| Income taxes | - | €512 | €-28 |
| Dividends | - | - | - |
| Total assets | €65k | €77k | €87k |
| Equity | €25k | €31k | €23k |
| Debt | €40k | €46k | €64k |
| of which ≤ 1y | €40k | €46k | €64k |
| of which > 1y | - | - | - |
| Working capital | €20k | €22k | €10k |
| Employees (FTE) | - | - | - |
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Current ratio | 1.51 | 1.48 | 1.16 |
| Quick ratio | 1.51 | 1.48 | 1.16 |
| Working capital ratio | 31.1% | 28.8% | 11.5% |
| Solvency | 38.6% | 40.1% | 26.7% |
| Debt / equity | 1.59 | 1.50 | 2.75 |
| Long-term debt ratio | - | - | - |
| Interest coverage | -7.43 | 40.87 | 5.91 |
| Gross margin | - | - | - |
| Net margin | - | - | - |
| ROA | -8.5% | 9.8% | -6.8% |
| ROE | -21.9% | 24.5% | -25.5% |
| EBITDA margin | - | - | - |
| Days sales outstanding | - | - | - |
| Days payable outstanding | - | - | - |
| Inventory turnover | - | - | - |
| Days inventory (DSI) | - | - | - |
Full annual accounts (22 line items)
| Line item | Code | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet, Assets | ||||
| TOTAL ASSETS | 20/58 | €65k | €77k | €87k |
| Fixed assets | 21/28 | €5k | €9k | €13k |
| Tangible fixed assets | 22/27 | €5k | €9k | €13k |
| Current assets | 29/58 | €60k | €68k | €74k |
| Amounts receivable within one year | 40/41 | €37k | €57k | €39k |
| Cash & bank | 54/58 | €21k | €10k | €34k |
| Balance sheet, Equity & liabilities | ||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €65k | €77k | €87k |
| Equity | 10/15 | €25k | €31k | €23k |
| Contributions / capital | 10/11 | €6k | €6k | €6k |
| Reserves | 13 | €275 | €275 | €275 |
| Accumulated profits (losses) | 14 | €19k | €24k | €17k |
| Amounts payable | 17/49 | €40k | €46k | €64k |
| Amounts payable within one year | 42/48 | €40k | €46k | €64k |
| Trade debts payable within one year | 44 | €26k | €44k | €62k |
| Income statement | ||||
| Gross operating margin | 9900 | €-990 | €15k | €3k |
| Operating result | 9901 | €-5k | €8k | €-6k |
| Financial income | 75 | €5 | - | - |
| Financial charges | 65 | €212 | €353 | €445 |
| Result before taxes | 9903 | €-6k | €8k | €-6k |
| Income taxes | 67/77 | - | €512 | €-28 |
| Net result for the period | 9904 | €-6k | €8k | €-6k |
| Result to be appropriated | 9905 | €-6k | €8k | €-6k |
| NACE primary | General construction of residential buildings(41001) |
| Legal form | Private limited company(610) |
| Incorporation | 04-04-2013 |
| Status | Active |
| Postal code | 1370 |
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25085B0151/00F000 | Wallonia | 893 m² | 1 · 73 m² | - |
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.
24-09-2024 Registered office moved to Pietrain
- Rue de la Chapelle Saint-Jean 22 - 1370 Pietrain
Technical details
{
"events": [
{
"kind": "zetel_transfer",
"seat_type": "siege_social",
"new_address": {
"raw": "Rue de la Chapelle Saint-Jean 22 - 1370 Pietrain",
"city": "Pietrain",
"region": "waals_gewest",
"street": "Rue de la Chapelle Saint-Jean",
"country": "BE",
"postcode": "1370",
"box_number": null,
"street_number": "22",
"locality_suffix": null
},
"old_address": null,
"effective_date": null,
"evidence_quote": "L\u0027assembl\u00E9e acte le transfert du si\u00E8ge social \u00E0 l\u0027adresse suivante:",
"region_changed": false,
"is_statute_change": true,
"nationality_change": false,
"old_address_source": "inferred",
"statute_clause_text": null,
"statute_article_number": null,
"effective_date_qualifier": null,
"statutaire_vs_werkelijke": null,
"linguistic_region_changed": false,
"court_jurisdiction_changed": false,
"effective_date_is_approximate": null
}
],
"notary": {
"name": null,
"firm_city": null,
"firm_name": null,
"office_city": null,
"is_associated": false
},
"act_meta": {
"language": "mixed",
"pub_date": null,
"filing_date": "2024-09-06",
"act_kind_objet": "Si\u00E8ge"
},
"decision": {
"body": "algemene_vergadering",
"date": "2024-09-06",
"unanimous": true
},
"subject_company": {
"kbo": "0525.731.090",
"name_full": "KORMAX",
"legal_form": "SRL"
},
"publication_proxy": {
"kind": "person",
"org_kbo": null,
"org_name": null,
"person_name": "Marion de Crombrugghe",
"org_rep_person_name": null,
"person_role_at_subject": "Mandataire"
},
"co_filed_documents": [
"Bijl\u00E4gen bij het Belgisch St\u00E4\u00E4tsbl\u00E4d - 24709/201 024-Ann"
]
}11-08-2022 Publication in the Belgian Official Gazette, Minor change
Technical details
{
"notary": {
"name": "Ga\u00EBtan DELVAUX",
"firm_city": null,
"firm_name": "SRL Ga\u00EBtan Delvaux, Notaire",
"office_city": "Jodoigne",
"is_associated": true
},
"act_meta": {
"language": "fr",
"pub_date": "2022-08-11",
"filing_date": "2022-08-09",
"act_kind_objet": "DEMISSIONS, NOMINATIONS, MODIFICATION FORME JURIDIQUE"
},
"decision": {
"body": "buitengewone_algemene_vergadering",
"date": "2022-07-13",
"unanimous": true
},
"agm_change": {
"new_schedule": null,
"old_schedule": null,
"effective_from_year": null,
"rule_changes_summary": "Adaptation des statuts aux dispositions du Code des soci\u00E9t\u00E9s et des associations, changement de forme l\u00E9gale en SRL, limitation du compte de capitaux propres statutairement indisponible \u00E0 1.200,00 \u20AC, d\u00E9mission et nomination d\u0027administrateur, adoption de nouveaux statuts sans modification de l\u0027objet."
},
"detected_kind": "agm_rules_change",
"other_address": {
"action": "modified",
"purpose": "statutaire_zetel",
"address_new": "1370 Jodoigne, Clos Saint-Jean 8",
"address_old": null,
"effective_date": null,
"effective_date_is_approximate": null
},
"mandate_renewal": null,
"subject_company": {
"kbo": "0525.731.090",
"name_full": "KORMAX",
"legal_form": "SRL"
},
"accounts_deposit": null,
"publication_proxy": {
"kind": "none",
"org_kbo": null,
"org_name": null,
"person_name": null,
"org_rep_person_name": null
},
"co_filed_documents": [
"expedition de l\u0027acte"
],
"fiscal_year_change": null,
"liquidation_closure": null,
"officer_designation": {
"role": "administrateur",
"organ": "raad_van_bestuur",
"person_name": "Justyna SADOWSKA"
},
"special_procuration": null,
"is_volet_a_only_stub": false,
"vakbekwaamheid_change": null,
"should_reroute_to_category": null,
"single_shareholder_declaration": null
}| Legal nameFR | KORMAX |