Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 34 % of short-term debt in 2025; threshold 65 %.
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Busy address KBO
26 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Koramic Real Estate from Kortrijk, company number BE0403271857, closed financial year 2025 with a result of € 3.2 million after tax. For that financial year Koramic Real Estate recorded revenue of € 30.3 million and equity of € 204.8 million. Compared with financial year 2024, the result moved from € 5.6 million to € 3.2 million. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on June 29, 2026.
€ 204.8 million
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 3.2 million
▼ 42% vs 2024
Profit after tax over the fiscal year.
€ 1.9 million
▼ 48% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 106 million.
People and assets in 2025
11.9
▼ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.2 million
▲ 9% vs 2024
€ 98,200 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 10 million
▼ 3% vs 2024
Of which on lease € 9.8 million.
Debts at end 2025
€ 179.3 million
▲ 5% vs 2024
€ 25.2 million is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 1.4 million
▼ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 31 days on average.
€ 189,480
▼ 89% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 19,685,491 | € 24,630,111 | € 28,084,429 | € 30,257,475 | ▲ 8% |
| Profit after taxes | € 72,151,823 | € 11,655,974 | € 5,564,340 | € 3,230,189 | ▼ 42% |
| Equity | € 490,330,093 | € 195,986,067 | € 201,550,407 | € 204,780,597 | ▲ 2% |
| Total debts | € 150,203,569 | € 171,648,794 | € 178,417,216 | € 184,573,224 | ▲ 3% |
| Cash | € 5,909,981 | € 3,965,295 | € 3,565,875 | € 1,857,412 | ▼ 48% |
| Land & buildings | € 129,444,898 | € 135,066,112 | € 128,298,042 | € 124,170,937 | ▼ 3% |
| Retained profit | € 391,509,453 | € 97,165,427 | € 102,729,767 | € 105,959,957 | ▲ 3% |
| Dividend | € 0 | € 306,000,000 | € 0 | € 0 | |
| Bank debt | € 146,314,590 | € 136,370,154 | € 171,058,917 | € 179,322,032 | ▲ 5% |
| Balance sheet total | € 644,133,850 | € 371,761,321 | € 384,256,599 | € 395,780,446 | ▲ 3% |
| Employees (FTE) | 4.8 | 9.9 | 12.4 | 11.9 | ▼ 0.5 |
Key figures of Koramic Real Estate, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Koramic Real Estate?
What happened at Koramic Real Estate in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Patrios stepped down as director. NBB
- Edge of Change stepped down as director. NBB
- Carl Van den Eynde stepped down as director. NBB
- Christian Dumolin stepped down as director. NBB
- Odon BV stepped down as director. NBB
- Agolis BV stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 3.2 million (▼ 42% vs 2024). Source: NBB ↗
- Sterk Interim Management BV stepped down as director. NBB
In short
From € 72.2 million profit in 2022 to € 3.2 million profit in 2025.
Paid € 2 million in corporate taxes since 2022.
Best year ever: 2022, with € 72.2 million profit.
Paid out € 306 million in dividends to the owners in total.
Management
The stake of KORAMIC INVESTMENTS comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Koramic Real EstateThe shares are held by KORAMIC INVESTMENTS (100%). It owns 100% of FONCIERE CHOCOLATERIE, 100% of K NED REAL ESTATE GMBH, 100% of LOUISE PROPERTIES FREEHOLD, 100% of SUDWEST IMMOBILIEN GMBH, 100% of INVESTCO and 100% of IMMO WANSART itself.
Directors
According to the 2025 annual accounts
Director · represented by Olaf Sterkenburg
Also active at: RESITEC INVESTMENT, VITALO INTERNATIONAL, WEngage International, INVESTCO, ABBI INDUSTRIE
since 2024 · until 2026
Carl Van den Eynde
Managing director, Director
Also active at: SOMIBA, J2P CONSULTING, BUSINESS CENTER LONDERZEEL, BEDRIJVENCENTRUM MALLE, Koramic Renovation Projects, C-Buildings, IMMO WANSART, ALLIK +6 more
since 2024 · until 2027
since 2026 · until 2031
Director · represented by Pieter Blondeel
Also active at: KORAMIC DEVELOPMENT, SOMIBA, J2P CONSULTING, BUSINESS CENTER LONDERZEEL, BEDRIJVENCENTRUM MALLE, Koramic Renovation Projects, C-Buildings, IMMO WANSART +11 more
since 2026 · until 2031
Christian Dumolin
Director, Chairman of the board
Also active at: KORAMIC DEVELOPMENT PROJECTS, BEVIZION
since 2024 · until 2027
Director · represented by Hilde Famaey
Also active at: Koramic Capital, C-Buildings, QUALITY ASSEMBLIES, RESITEC INVESTMENT, SATURNUS INVEST, FONCIERE CHOCOLATERIE, KORAMIC CHOCOLATERIE, Louise properties leasehold
since 2022 · until 2027
Director, Managing director · represented by Stéphane Vlaemminck
Also active at: NEDZINK, TrustCapital, LAMIFIL, LESSIUS, Koramic Capital, KORAMIC INVEST, Koramic Finance Company, Koramic Chemicals +2 more
since 2024 · until 2027
Shareholders
100%
Participations
K NED REAL ESTATE GMBH
100%
SUDWEST IMMOBILIEN GMBH
100%
100%
100%
KORAMIC REAL ESTATE GERMANY GMBH
100%
29 IANCU NICOLAE RESIDENCE SRL
100%
TOKA IMMOBILIEN GMBH
100%
100%
100%
KRERO 2 s.r.l.
100%
100%
100%
OKRE DEVELOPMENT SP. Z O.O.
100%
KH REAL ESTATE GMBH
100%
100%
KORAMIC REAL ESTATE SP. Z O.O.
100%
RETAIL CITY SP. Z O.O.
100%
KORAMIC VASTGOED BV
100%
KORAMIC REAL ESTATE S.R.L.
100%
TOKA VERWALTUNGS GMBH
100%
90%
55.6%
FREEHOME 3 SP. Z O.O.
50%
50%
WARSAW RETAIL PARK SP. Z O.O.
50%
GREENWINGS OFFICES SP Z.O.O.
25%
Establishments
Establishment units
Physical locations of this company
Kapel ter Bede(Kor) 84
8500 Kortrijk
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 26 companies are registered at this address.
All companies at this address →KORAMIC DEVELOPMENT PROJECTS same network
€ 24.1 million revenue · 2025
TrustCapital same network
KORAMIC INVESTMENTS same network
€ 3.8 million revenue · 2025
DeliBarn Immo
LESSIUS same network
€ -49,332 gross margin · 2025
+21 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0403.271.857
- VAT number
- BE 0403.271.857
- Registered office
- Kapel ter Bede(Kor) 84, 8500 Kortrijk
- Names & denominations
- Koramic Real Estate · KRE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 17 April 1928
- Peppol
- Active · Active since 15 Dec 2025
- Activities · NACE
Activiteiten van holdings
Managementactiviteiten van holdings
Holdings
Ontwikkeling van niet-residentiële bouwprojecten
Ontwikkeling van residentiële bouwprojecten
Handel in eigen onroerend goed