Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 2 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Shrinking team NBB
FTE fell two years in a row, from 21.7 to 18.7.
Financials
Financial year 2025
CORSEARCH EUROPE from Elsene, company number BE0430166888, closed financial year 2025 with a result of € -897,517 after tax. For that financial year CORSEARCH EUROPE recorded revenue of € 9.5 million and equity of € -2.5 million. Compared with financial year 2024, the result moved from € -5.3 million to € -897,517. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 4, 2026.
€ -2.5 million
▼ € 897,517 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -897,517
▲ 83 % less loss than in 2024
Profit after tax over the fiscal year.
€ 327,176
▲ 13% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -2.5 million.
People and assets in 2025
18.7
▼ 1.7 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.8 million
▼ 16% vs 2024
€ 93,900 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.
€ 14,294
▼ 25% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 2.1 million
▼ 64% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 110 days on average.
€ 660,357
▼ 43% vs 2024
Taxes, VAT and social contributions still to pay.
Want to see how much further we take a dossier in the Pro version? Open the free De Lijn example and give feedback →
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 11,548,103 | € 11,158,965 | € 10,644,672 | € 9,469,637 | ▼ 11% |
| Profit after taxes | € 973,311 | € 1,670,059 | € -5,280,013 | € -897,517 | ▲ € 4.4 million |
| Equity | € 2,037,551 | € 3,707,611 | € -1,572,402 | € -2,469,919 | ▼ € 897,517 |
| Total debts | € 21,952,286 | € 23,927,909 | € 25,675,036 | € 28,580,099 | ▲ 11% |
| Cash | € 243,130 | € 167,096 | € 290,523 | € 327,176 | ▲ 13% |
| Retained profit | € 1,975,551 | € 3,645,611 | € -1,634,402 | € -2,531,919 | ▼ € 897,517 |
| Balance sheet total | € 24,097,301 | € 27,686,524 | € 24,102,634 | € 26,110,181 | ▲ 8% |
| Employees (FTE) | 27.7 | 21.7 | 20.4 | 18.7 | ▼ 1.7 |
Key figures of CORSEARCH EUROPE, 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 CORSEARCH EUROPE?
What happened at CORSEARCH EUROPE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 897,517. Source: NBB ↗
- Daliri Zakarya became a director. NBB
- Stephen Leith became a director. NBB
- New establishment in Elsene. KBO
- Start of the company according to the CBE. KBO
In short
From € 973,311 profit in 2022 to € 897,517 loss in 2025.
Paid € 1.4 million in corporate taxes since 2022.
Best year ever: 2023, with € 1.7 million profit.
Pays suppliers within 110 days on average.
A new publication or filing at CORSEARCH EUROPE? We notify you, reason included.
Follow CORSEARCH EUROPEDatabakkes Pro
Know what changes at your customers, suppliers and competitors. Without reading an annual account.
- Follow them in one folder Every company in your folder gets this full dossier: household book, all fiscal years, benchmark against companies of the same size.
- We alert you, with the reason New annual account, Official Gazette publication or status change: you get what changed and where it says so.
- In bulk too, and in ChatGPT and Claude Upload your customer list and get the warning signs back per company. Or ask in your own AI assistant, with this register as the source.
Databakkes Pro is being built. Sign up now and you are first in line for an invitation, with a month to try without a credit card.
De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind CORSEARCH EUROPE are Stephen Leith and Daliri Zakarya. The shares are held by Luxembourg (100%). It owns Corsearch France SAS itself.
Directors
According to the 2025 annual accounts
Stephen Leith
Managing director
since 2023
Daliri Zakarya
Director
since 2025
Shareholders
Luxembourg
100%
Participations
Corsearch France SAS
Establishments
Establishment units
Physical locations of this company
Marsveldplein 5
1050 Elsene
Louizalaan 65 box 11
1050 Elsene
Active since 16 November 1993
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0430.166.888
- VAT number
- BE 0430.166.888
- Registered office
- Marsveldplein 5, 1050 Elsene
- Names & denominations
- CORSEARCH EUROPE
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 5 January 1987
- Peppol
- Active · Active since 3 Feb 2026
- Activities · NACE
Activiteiten van ingenieurs en aanverwante technische adviseurs, exclusief landmeters-experts
Technische studiën en ingenieursactiviteiten
Overige rechtskundige dienstverlening
Computerinfrastructuur, gegevensverwerking, hosting en aanverwante activiteiten
Gegevensverwerking, webhosting en aanverwante activiteiten
Ontwerpen van computerprogramma’s
Ontwerpen en programmeren van computerprogramma's