VLEESWAREN CORMA

Active

Public limited companyfounded 1980active for 45 yearsHaenhoutstraat 210, 9070 Destelbergen, BelgiumKBO/BCE: BE 0421.155.291

Summary

The computed 12-month bankruptcy probability of VLEESWAREN CORMA is 2.6% (moderate). The 2025 annual accounts show equity of €1.5m and a net result of -€232,252. Equity is shrinking by about 3.4% per year across the filed financial years. Its solvency ranks better than 19% of 788 sector peers (NACE 10, financial year 2025). The company has been active since 1980 and the Belgian Official Gazette contains no insolvency or warning signals.

Risk analysisFollow Report Compare

VLEESWAREN CORMAActiveChecked score 50/100

Risk analysis Report Compare

Activity

Manufacture of food products

NACE 10130

3rd oldest company in Destelbergen, Manufacturing sector1 site

Size

€12.7mturnover 2025

Staff: 36 FTE
Equity: €1.5m
Loss: -€232,252

Financial health

50 Fair Checked score 2025

Bankruptcy probabilitywithin 12 months: 2.6%

Structure

Parent: GANDA · 98.23%
Board: 7 members
Holdings: 2

Koen DammeManaging director

Auditor: Figurad Bedrijfsrevisoren bv2025 accounts filed 80 days late3 of 9 deeds summarised

Why 50raises riskEquity €1.5m (14.6% of total assets)Liquidity: current ratio 0.89, cash €343,491Sector: Manufacture of food products (NACE 10)Last filed accounts filed 80 days late; 1 of the last 3 lateShow the evidence

Checked score

Score 2025

50 / 100

Fair

Probability in this band: 1.5% to 4.2%

Financially better than 15% of its sector peers (NACE 10, small)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Weak

Solvency 40-3

equity 14.6% of total assets

Liquidity 13-8

short-term debt 76.0% · cash 3.3%

Profitability 27=

return on assets -2.2%

Bankruptcy probability, 12 months

2.6% Moderate

0%0.5%1.5%4%10%≥ 25%

About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.5% (629 companies, NACE 10, small)

Last 24 months 11-2024: 1.9% 12-2024: 1.9%● unchanged vs 11-2024 01-2025: 1.9%● unchanged vs 12-2024 02-2025: 1.8%▼ -0.1 percentage points vs 01-2025 03-2025: 1.8%● unchanged vs 02-2025 04-2025: 1.8%● unchanged vs 03-2025 05-2025: 1.8%● unchanged vs 04-2025 06-2025: 1.8%● unchanged vs 05-2025 07-2025: 2.1%▲ +0.3 percentage points vs 06-2025 08-2025: 1.1%▼ -1.0 percentage point vs 07-2025 09-2025: 1.1%● unchanged vs 08-2025 10-2025: 1.1%● unchanged vs 09-2025 11-2025: 1.1%● unchanged vs 10-2025 12-2025: 1.1%● unchanged vs 11-2025 01-2026: 1.1%● unchanged vs 12-2025 02-2026: 1.1%● unchanged vs 01-2026lowest value 03-2026: 1.1%● unchanged vs 02-2026lowest value 04-2026: 1.1%● unchanged vs 03-2026 05-2026: 1.1%● unchanged vs 04-2026 06-2026: 1.2%▲ +0.1 percentage points vs 05-2026 07-2026: 1.2%● unchanged vs 06-2026 08-2026: 1.9%▲ +0.7 percentage points vs 07-2026 09-2026: 2.3%▲ +0.4 percentage points vs 08-2026 10-2026: 2.6%▲ +0.3 percentage points vs 09-2026highest value

Credit of up to €75,000 on 30-day terms is acceptable

Liquidity insufficient (current ratio 0.89, compared with 0.96 in 2024, below 1; short-term debt: 76% and cash: 3.3% of total assets), and 85.4% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 10, small): better than 20% on solvency, 7% on liquidity, 12% on profitability and 19% on growth.

The bankruptcy probability was computed on 27-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.

raises riskneutral

Equity €1.5m (14.6% of total assets)

NBB · annual accounts

Liquidity: current ratio 0.89, cash €343,491

NBB · annual accounts

Sector: Manufacture of food products (NACE 10)

KBO

Last filed accounts filed 80 days late; 1 of the last 3 late

NBB · filings

Persistent losses

Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.

NBB · annual accounts 2025

Net result per financial year

1819202122232425

2018 to 2025 · latest year -€232,252

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 788 sector peers (2025).

NBB · sector comparison

Position among 788 sector peers

Solvency

better than 19%

← weakest strongest →

A punctual record breaks

This company filed 3 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-10-2026, 80 days late. Weigh it accordingly: of the companies that move to filing 1 to 90 days late, 1.41% are now bankrupt, dissolved or in another special legal status, below the 1.66% of all filers. It is a change in behaviour, not evidence of elevated risk.

NBB · 10 filings

Deviation from the deadline

2025

80 days late

2024

16 days early

2023

49 days early

2022

12 days early

2021

31 days late

2020

17 days late

2019

19 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 10 days after the deadline; the sector median (NACE 10) for financial year 2024 is 4 days before the deadline, and 38% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 19 July (4 of the last 5 filed years within 43 days of that day).

Companies Code · seven months

Where today falls in the filing period

28-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

19-10-2026 Annual accounts filedfinancial year 2025 · full…
31-12-2025 Weakest financial yearnet -€232,252
19-08-2025 Amendment of the articlesCapital · Power of attorney

Key points

Risk: 4 loss-making years in a rowloss financial year 2025 -€232,252 View
Caution: Among the weakest 13% on net resultsector median €135,029 · 791 companies -€232,252 View
Caution: Latest accounts filed lateafter the legal deadline 80 days View
Controlled by GANDAknown shareholders 100% 98.23% View
Active since 1980founded 24-11-1980 45 years View

By topic

Financials

Financial year: 2025
Turnover: €12.7m
Loss: -€232,252
Solvency: 14.6%

Turnover▼ 5.6%

Net result

20182025

Go to Financials

Board & ownership

Board: 7 members
Parent: GANDA · 98.23%
Known shareholders: 100%
Auditor: Figurad Bedrijfsrevisoren bv

Dirk ComelisDirector
Dirk CornelisDirector
Koen DammeManaging director
Koen Van DammeManaging director
Mattheo ComelisDirector

and 2 other directors

Go to Board & ownership

Network & group

Group: Ganda NV - stelt…
Subsidiaries: 1
Direct holdings: 2
Connected companies: 1

2 holdings

Go to Network & group

Timeline

Events: 49
Since: 1982
Next accounts: by 31-07-2027

15-07-2025Annual accounts filed
30-12-2024Resignation: Ganda NV (director)
17-10-2024Resignation: Ganda NV (director)

Go to Timeline

Company details

Sites: 1

Legal form: Public limited company
Activity: Manufacture of food productsNACE 10130
Founded: 24-11-1980
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 16

Purpose: “De vennootschap heeft tot voorwerp:de negotiatie in het groot en het klein,evenals de…” (deed in Dutch)

Go to Articles of association

Key facts about VLEESWAREN CORMA

What is the company number of VLEESWAREN CORMA?: 0421.155.291. In Belgium the VAT number is the company number with BE in front: BE 0421.155.291.
Where is VLEESWAREN CORMA based?: The registered office is at Haenhoutstraat 210, 9070 Destelbergen.Company details
What does VLEESWAREN CORMA do?: According to the KBO register, the main activity is manufacture of food products (NACE 10130).
What is the legal form of VLEESWAREN CORMA?: Public limited company (NV).
When was VLEESWAREN CORMA founded?: On 24-11-1980.
Is VLEESWAREN CORMA still active?: Yes, VLEESWAREN CORMA is an active enterprise in the KBO register.
How many employees does VLEESWAREN CORMA have?: On average 36 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of VLEESWAREN CORMA?: €12.7m in financial year 2025, according to the filed annual accounts.
Is VLEESWAREN CORMA profitable?: In financial year 2025, VLEESWAREN CORMA made a loss of €232,252.
Where can I find the annual accounts of VLEESWAREN CORMA?: VLEESWAREN CORMA filed 44 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of VLEESWAREN CORMA due?: By 31-07-2027, for financial year 2026.Timeline