CO-FIX
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is 82% higher than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €6,147 | €32,905 |
| Depreciation and write-downs of the year | €1,529 | €7,138 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €119 awarded · €119 paid| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €395 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,529 | €7,138 | ▲ 367% |
| Other operating charges640/8 | €484 | €1,140 | ▲ 136% |
| Gross operating margin9900 | €14,410 | €30,124 | ▲ 109% |
| Operating profit (loss)9901 | €12,001 | €21,846 | ▲ 82.0% |
| Financial charges65/66B | €87 | €2,358 | ▲ 27× |
| Recurring financial charges65 | €87 | €2,358 | ▲ 27× |
| Profit (loss) for the period before taxes9903 | €11,915 | €19,488 | ▲ 63.6% |
| Income taxes67/77 | €2,439 | €4,487 | ▲ 84.0% |
| Profit (loss) for the period9904 | €9,476 | €15,001 | ▲ 58.3% |
| Profit (loss) for the period to be appropriated9905 | €9,476 | €15,001 | ▲ 58.3% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €28,893 | €70,966 | ▲ 146% |
| Formation expenses20 | €878 | €0 | ▼ 100% |
| Fixed assets21/28 | €5,847 | €32,491 | ▲ 456% |
| Tangible fixed assets22/27 | €5,847 | €32,491 | ▲ 456% |
| Plant, machinery and equipment23 | €3,975 | €3,434 | ▼ 13.6% |
| Furniture and vehicles24 | €1,872 | €29,057 | ▲ 16× |
| Current assets29/58 | €22,168 | €38,474 | ▲ 73.6% |
| Amounts receivable within one year40/41 | €11,131 | €21,378 | ▲ 92.1% |
| Trade receivables40 | €11,131 | €21,356 | ▲ 91.9% |
| Other amounts receivable41 | - | €21 | - |
| Cash at bank and in hand54/58 | €9,347 | €15,103 | ▲ 61.6% |
| Deferred charges and accrued income490/1 | €1,690 | €1,993 | ▲ 17.9% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €28,893 | €70,966 | ▲ 146% |
| Equity10/15 | €9,676 | €24,676 | ▲ 155% |
| Contributions10/11 | €200 | €200 | = |
| Reserves13 | €9,476 | €24,476 | ▲ 158% |
| Distributable reserves133 | €9,476 | €24,476 | ▲ 158% |
| Amounts payable17/49 | €19,217 | €46,289 | ▲ 141% |
| Amounts payable within one year42/48 | €19,217 | €46,289 | ▲ 141% |
| Trade debts44 | €2,631 | €317 | ▼ 87.9% |
| Suppliers440/4 | €2,631 | €317 | ▼ 87.9% |
| Taxes, remuneration and social security45 | €6,609 | €10,352 | ▲ 56.6% |
| Taxes450/3 | €6,609 | €10,352 | ▲ 56.6% |
| Other amounts payable47/48 | €9,977 | €35,620 | ▲ 257% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €9,476 | €15,001 | ▲ 58.3% |
| + Depreciation and write-downs630 | €1,529 | €7,138 | ▲ 367% |
| Operating cash flow (approximation) | €11,005 | €22,139 | ▲ 101% |
| Investment in fixed assets (approximation) | - | -€33,783 | - |
| Change in cash | - | €5,757 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as CO-FIX has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CO-FIX itself: 1.2% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for CO-FIX. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.