CORES DEVELOPMENT

Active

Public limited companyfounded 200719 yrs activeMechelsesteenweg 176, 2018 Antwerpen, BelgiumKBO/BCE: BE 0889.278.875

Summary

CORES DEVELOPMENT has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €38.2m and a net result of €9.1m. Equity is growing by ~13.6% per year across the filed fiscal years. Its solvency ranks better than 61% of 5338 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Risk analysisWatch Report Compare

CORES DEVELOPMENTActiveChecked score 97/100

Risk analysis Report Compare

Activity

Development of residential building projects

NACE 68121Real estate development NACE 41101NACE 74151

#6 company by staff growth in Antwerp, Real estate sector1 site

Size

€10.0mturnover 2025

Staff: 17.6 FTE
Equity: €38.2m
Profit: €9.1m

Financial health

97 Excellent Checked score 2025

Bankruptcy chance 12 m: 0.1%

Structure

Largest shareholder: Domest · 40%
Board: 3 members
Holdings: 18

Auditor: Deloitte Bedrijfsrevisoren/Réviseurs d’EntreprisesAccounts 46 d early

Why 97- Liquidity: current ratio 3.34, cash €1.8m+ Size: turnover €10.0m, 17.6 FTE, total assets €74.8m, files consolidated accounts+ Figures for FY 2025 (filed 15-06-2026)+ Founded in 2007Show the evidence

Checked score

Score 2025

97 / 100

Excellent

Probability in this band: under 0.55%

Better than 77% of its sector peers (NACE 68, small)

Performance against the sector, not lower risk

Every signal that weighs is under Signals.

Financial strength · tick = 2024

Strong

Solvency 76+6

equity 51.1% of total assets

Liquidity 50-4

short-term debt 14.5% · cash 2.4%

Profitability 88+61

return on assets 12.1%

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (6,938 companies)

Last 24 months 11-2024: 0.1% 12-2024: 0.1%● 0.0% vs 11-2024 01-2025: 0.1%● 0.0% vs 12-2024 02-2025: 0.1%▲ +1.2% vs 01-2025 03-2025: 0.1%▲ +2.4% vs 02-2025 04-2025: 0.1%▲ +9.2% vs 03-2025 05-2025: 0.1%▲ +1.1% vs 04-2025 06-2025: 0.1%▲ +10.4% vs 05-2025highest value 07-2025: 0.1%▼ -8.5% vs 06-2025 08-2025: 0.1%● 0.0% vs 07-2025 09-2025: 0.1%● 0.0% vs 08-2025 10-2025: 0.1%● 0.0% vs 09-2025 11-2025: 0.1%● 0.0% vs 10-2025 12-2025: 0.1%● 0.0% vs 11-2025 01-2026: 0.1%▼ -3.1% vs 12-2025 02-2026: 0.1%▼ -2.1% vs 01-2026 03-2026: 0.1%▲ +2.2% vs 02-2026 04-2026: 0.1%▲ +5.3% vs 03-2026 05-2026: 0.1%▲ +1.0% vs 04-2026 06-2026: 0.1%▲ +5.0% vs 05-2026 07-2026: 0.1%▼ -31.4% vs 06-2026lowest value 08-2026: 0.1%● 0.0% vs 07-2026lowest value 09-2026: 0.1%▲ +1.4% vs 08-2026 10-2026: 0.1%● 0.0% vs 09-2026

Liquidity: current ratio 3.34, cash €1.8m raises the probability
Size: turnover €10.0m, 17.6 FTE, total assets €74.8m, files consolidated accounts lowers the probability for this profile
Figures for FY 2025 (filed 15-06-2026) lowers the probability
Founded in 2007 lowers the probability for this profile

Credit up to €1,000,000 at 30 days acceptable

Liquidity ample (current ratio 3.34 against 5.69 in 2024; short-term debt: 14.5% and cash: 2.4% of total assets), and 48.9% of the assets are financed with debt.

How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 68, small). Better than this share of them on solvency 69%, liquidity 57%, profitability 96%, growth against the median 87%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Liquidity: current ratio 3.34, cash €1.8m

In the bankruptcy model this factor raises the probability.

NBB · annual accounts

Size: turnover €10.0m, 17.6 FTE, total assets €74.8m, files consolidated accounts

In the bankruptcy model this factor lowers the probability for this profile.

NBB · annual accounts

Figures for FY 2025 (filed 15-06-2026)

In the bankruptcy model this factor lowers the probability.

NBB · annual accounts

Founded in 2007

In the bankruptcy model this factor lowers the probability for this profile.

KBO

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 15-06-2026, 46 days ahead of the deadline.

NBB · 5 filings

Deviation from the deadline

2025

46 d early

2024

49 d early

2023

44 d early

2022

35 d early

2021

34 d early

← before the deadline after the deadline →

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

This company filed its last 5 accounts on average 42 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)

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 18 June (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Position in the running window

03-10-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

15-06-26 Annual accounts filedfiscal year 2025 · consolidated
15-06-26 Annual accounts filedfiscal year 2025 · full…
16-02-26 Statutes amendmentState Gazette act

Key points

Positive: Result rose in 2025from €1.1m to €9.1m ▲ 703% View
Positive: Among the best 5% on net resultsector median €21,799 · 5,342 companies €9.1m View
Heads a groupcompanies controlled 7 View
New directorlatest change 01-01-2026 · 3 in office 1 joined View
Positive: Always filed on timeaccounts within the deadline every year 5 years View
Positive: 5 profitable years in a rowprofit 2025: €9.1m 5 years View