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 61 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
De Korrelatie from Brugge, company number BE0450910537, closed financial year 2025 with a result of € -86,513 after tax. For that financial year De Korrelatie recorded a gross margin of € 1.9 million and equity of € 1.5 million. Compared with financial year 2024, the result moved from € 49,942 to € -86,513. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 10, 2026.
€ 1.5 million
▼ 12% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -86,513
▼ still € 49,942 profit in 2024
Profit after tax over the fiscal year.
€ 267,817
▼ 30% vs 2024
Cash and bank balances on the last day of the fiscal year.
People and assets in 2025
28
▲ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.5 million
▲ 1% vs 2024
€ 54,300 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.
€ 102,541
▲ € 86,152 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 2.3 million
▼ 6% vs 2024
€ 161,385 is repaid this year. At this pace the long-term loan is gone in ≈ 14 years.
€ 297,821
▲ 73% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 216,991
▲ 17% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 1,812,012 | € 1,862,658 | € 1,982,808 | € 1,861,882 | ▼ 6% |
| Profit after taxes | € 63,990 | € -3,219 | € 49,942 | € -86,513 | ▼ € 136,455 |
| Equity | € 1,107,147 | € 1,026,552 | € 1,734,011 | € 1,533,379 | ▼ 12% |
| Total debts | € 3,110,690 | € 3,039,910 | € 2,807,533 | € 2,811,056 | |
| Cash | € 201,356 | € 287,492 | € 382,841 | € 267,817 | ▼ 30% |
| Retained profit | € -111,518 | € -114,737 | € -64,795 | € -151,308 | ▼ € 86,513 |
| Bank debt | € 2,747,425 | € 2,596,210 | € 2,441,680 | € 2,283,759 | ▼ 6% |
| Balance sheet total | € 4,217,837 | € 4,066,462 | € 4,541,545 | € 4,344,435 | ▼ 4% |
| Employees (FTE) | 26.1 | 27.8 | 27.5 | 28 | ▲ 0.5 |
Key figures of De Korrelatie, 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 De Korrelatie?
What happened at De Korrelatie in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Jan Denolf stepped down as director. NBB
- Mathijs Goderis stepped down as director. NBB
- Veerle Mans stepped down as director. NBB
- Melissa Misseeuw stepped down as director. NBB
- Alexander Vandeputte stepped down as director. NBB
- Geert Anthierens stepped down as director. NBB
- Yvan Vandamme stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 86,513 (▼ € 136,455 vs 2024). Source: NBB ↗
In short
From € 63,990 profit in 2022 to € 86,513 loss in 2025.
Best year ever: 2022, with € 63,990 profit.
On average € 66,500 of value added per employee in 2025.
Management
Directors
According to the 2025 annual accounts
since 2025 · until 2031
Melissa Misseeuw
Director
Also active at: RAADHUIS B&F, BD-CONSULT, MISSIM 140, Stadmakers, INSIDE JAZZ, Cultuurcentrum De Grote Post
since 2022 · until 2028
Alexander Vandeputte
Director
Also active at: LUMIERE CINEMA, LUMIERE PUBLISHING, STADSBIOSCOOP CARTOONS, LUMIERE GROEP, LumièreStudio, LUM.INVEST, Stadmakers, LUMIERE HOME ENTERTAINMENT
since 2020 · until 2026
since 2020 · until 2026
Minou Esquenet
Director
Also active at: Farys, LUCHTHAVENONTWIKKELINGSMAATSCHAPPIJ VLAANDEREN, Creat Services, Stadmakers
since 2020 · until 2026
since 2025 · until 2031
since 2020 · until 2026
since 2025 · until 2031
Establishments
Establishment units
Physical locations of this company
Sint-Jakobsstraat 36
8000 Brugge
Academiestraat 14
8000 Brugge
Active since 1 January 2017
Naaldenstraat 4
8000 Brugge
Active since 1 October 2022
Begijnenvest 9
8000 Brugge
Active since 1 October 2022
Dijver 12
8000 Brugge
Active since 30 March 2026
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 4 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0450.910.537
- VAT number
- BE 0450.910.537
- Registered office
- Sint-Jakobsstraat 36, 8000 Brugge
- Names & denominations
- De Korrelatie
- Enterprise type
- Rechtspersoon
- Legal form
- Non-profit association
- Legal situation
- Normale toestand
- Start date
- 1 September 1993
- Peppol
- Active · Active since 21 Oct 2026
- Activities · NACE
Overige verenigingen, neg
Overige verenigingen, n.e.g.
Cafés en bars
Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen
Activiteiten van eetgelegenheden met volledige bediening
Eetgelegenheden met volledige bediening