CO3-DEVELOPMENT
ActiveSummary
CO3-DEVELOPMENT has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €31,408 and a net result of €109,689. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 34% of 19375 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability66▲+36
Solvency38▲+20
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 20.12 against 7.88 in 2023; short-term debt: 5% and cash: 17.8% of total assets), but 86.9% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
13.1%
Return on assets
45.8%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-10-2025, 68 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
68 d late
2023
21 d late
2022
31 d late
2021
61 d late
2020
59 d late
2019
12 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 42 days after 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€31,408
2023 · -€78,280
Total assets
€239,433▼ 79.9%
2023 · €1.2m
Net result
€109,689▲ 933%
2023 · €10,622
Working capital
€227,531▼ 78.1%
2023 · €1.0m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€39,190-€62,645€8,592€54,199▲ 531%€217,999▲ 302%
Net result€18,371within the sector's middle half-€75,760below the sector's middle half-€8,672below the sector's middle half▲ 88.6%€10,622within the sector's middle half€109,689above the sector's middle half▲ 933%
Equity-€4,471below the sector's middle half▲ 80.4%-€80,230below the sector's middle half▼ 1,695%-€88,903below the sector's middle half▼ 10.8%-€78,280below the sector's middle half▲ 11.9%€31,408within the sector's middle half
Total assets€811,752within the sector's middle half▲ 283%€1.2mabove the sector's middle half▲ 44.1%€1.2mabove the sector's middle half▲ 2.9%€1.2mabove the sector's middle half▼ 1.3%€239,433within the sector's middle half▼ 79.9%
Debt€816,222▲ 247%€1.2m▲ 53.1%€1.3m▲ 3.4%€1.3m▼ 2.0%€208,025▼ 83.6%
Working capital€661,515above the sector's middle half€979,320above the sector's middle half▲ 48.0%€1.0mabove the sector's middle half▲ 2.7%€1.0mabove the sector's middle half▲ 3.2%€227,531above the sector's middle half▼ 78.1%
Solvency-0.6%below the sector's middle half▲ 10.2pp-6.9%below the sector's middle half▼ 6.3pp-7.4%below the sector's middle half▼ 0.5pp-6.6%below the sector's middle half▲ 0.8pp13.1%within the sector's middle half▲ 19.7pp
Current ratio5.41above the sector's middle half▲ 4.516.17above the sector's middle half▲ 0.766.08above the sector's middle half▼ 0.097.88above the sector's middle half▲ 1.8120.12above the sector's middle half▲ 12.23
Return on assets (ROA)2.3%within the sector's middle half▲ 32.8pp-6.5%below the sector's middle half▼ 8.7pp-0.7%within the sector's middle half▲ 5.8pp0.9%within the sector's middle half▲ 1.6pp45.8%above the sector's middle half▲ 44.9pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 302% above 2023 and is the highest result in the available series.
Balance-sheet composition
Equity and liabilities €239,433
Equity
€31,408
Debt
€208,025
Debt finances 86.9% of the balance-sheet total.
Key figures and ratios
EBITDA
€218,124▲
2023 · €54,560
Cash flow
€109,815▲
2023 · €10,983
Quick ratio
15.28▲
2023 · 0.21
Debt to equity
6.62▲
2023 · -16.18
ROE
349.2%
Interest coverage
1.87▲
2023 · 1.18
Debt ≤ 1 year
€11,902▼
2023 · €150,692
Debt > 1 year
€193,123▼
2023 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,706 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.7%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,706 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €237 | €472 | €361 | €361 | €126 | ▼ 65.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €273,190 | - |
| Other operating charges640/8 | - | €17,480 | €1,147 | €3,348 | €1,281 | ▼ 61.7% |
| Gross operating margin9900 | €41,572 | -€44,693 | €10,100 | €57,908 | €492,595 | ▲ 751% |
| Operating profit (loss)9901 | €39,190 | -€62,645 | €8,592 | €54,199 | €217,999 | ▲ 302% |
| Financial income75/76B | - | €740 | €2,533 | €2,692 | €8,373 | ▲ 211% |
| Recurring financial income75 | €48 | €740 | €2,533 | €2,692 | €8,373 | ▲ 211% |
| Financial charges65/66B | - | €13,854 | €19,797 | €46,269 | €116,683 | ▲ 152% |
| Recurring financial charges65 | €20,867 | €13,854 | €19,797 | €46,269 | €116,683 | ▲ 152% |
| Profit (loss) for the period before taxes9903 | €18,371 | -€75,760 | -€8,672 | €10,622 | €109,689 | ▲ 933% |
| Profit (loss) for the period9904 | €18,371 | -€75,760 | -€8,672 | €10,622 | €109,689 | ▲ 933% |
| Profit (loss) for the period to be appropriated9905 | €18,371 | -€75,760 | -€8,672 | €10,622 | €109,689 | ▲ 933% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €811,752 | €1.2m | €1.2m | €1.2m | €239,433 | ▼ 79.9% |
| Fixed assets21/28 | €237 | €847 | €487 | €126 | - | - |
| Tangible fixed assets22/27 | €237 | €847 | €487 | €126 | - | - |
| Furniture and vehicles24 | - | €847 | €487 | €126 | - | - |
| Current assets29/58 | €811,515 | €1.2m | €1.2m | €1.2m | €239,433 | ▼ 79.8% |
| Stocks and contracts in progress3 | €802,000 | €1.1m | €1.2m | €1.2m | €57,514 | ▼ 95.0% |
| Stocks30/36 | - | €1.1m | €1.2m | €1.2m | €57,514 | ▼ 95.0% |
| Amounts receivable within one year40/41 | €6,702 | €28,124 | €27,536 | €29,028 | €139,195 | ▲ 380% |
| Trade receivables40 | - | - | - | - | €14,932 | - |
| Other amounts receivable41 | - | €28,124 | €27,536 | €29,028 | €124,263 | ▲ 328% |
| Cash at bank and in hand54/58 | €2,813 | €1,751 | €19,566 | - | €42,724 | - |
| Deferred charges and accrued income490/1 | - | €740 | €2,533 | €2,692 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €811,752 | €1.2m | €1.2m | €1.2m | €239,433 | ▼ 79.9% |
| Equity10/15 | -€4,471 | -€80,230 | -€88,903 | -€78,280 | €31,408 | ▲ 140% |
| Contributions10/11 | - | €42,000 | €42,000 | €42,000 | €42,000 | = |
| Profit (loss) carried forward14 | -€46,471 | -€122,230 | -€130,903 | -€120,280 | -€10,592 | ▲ 91.2% |
| Amounts payable17/49 | €816,222 | €1.2m | €1.3m | €1.3m | €208,025 | ▼ 83.6% |
| Amounts payable after more than one year17 | €666,222 | €1.1m | €1.1m | €1.1m | €193,123 | ▼ 82.6% |
| Financial debts170/4 | - | €1.1m | €1.1m | €1.1m | €193,123 | ▼ 82.6% |
| Amounts payable within one year42/48 | €150,000 | €189,500 | €198,003 | €150,692 | €11,902 | ▼ 92.1% |
| Trade debts44 | €150,000 | €150,500 | €150,000 | €69,952 | €10,071 | ▼ 85.6% |
| Suppliers440/4 | - | €150,500 | €150,000 | €69,952 | €10,071 | ▼ 85.6% |
| Taxes, remuneration and social security45 | - | - | - | - | €1,831 | - |
| Taxes450/3 | - | - | - | - | €1,831 | - |
| Other amounts payable47/48 | - | €39,000 | €48,003 | €80,740 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €3,000 | €3,000 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,371 | -€75,760 | -€8,672 | €10,622 | €109,689 | ▲ 933% |
| + Depreciation and write-downs630 | €237 | €472 | €361 | €361 | €126 | ▼ 65.2% |
| Operating cash flow (approximation) | €18,607 | -€75,288 | -€8,311 | €10,983 | €109,815 | ▲ 900% |
| Investment in fixed assets (approximation) | - | -€1,083 | €0 | €0 | - | - |
| Change in cash | - | -€1,062 | €17,815 | - | - | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
07-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 68 days late
2024
31-12
Financial
Highest result since 2019net €109,689 ▲933%
Operating result €217,999, net result €109,689, both a record.
31-12
Financial
Liquidity triplescurrent ratio 20.12
Current ratio from 7.88 to 20.12; short-term debt falls from €150,692 to €11,902.
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
2023
31-12
Financial
Back to profitnet €10,622
Net result €10,622 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-12
Financial
Weakest financial yearnet -€75,760
Net result drops to -€75,760, the lowest in the series; recovery starts the following year.
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 59 days late
2020
31-12
Financial
Back to profitnet €18,371
Net result €18,371 after one loss-making year.
31-12
Financial
Liquidity times 6current ratio 5.41
Current ratio from 0.90 to 5.41; short-term debt falls from €235,000 to €150,000.
12-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 12 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2018
Ground area
471 m²
Building footprint
471 m²
Volume, LiDAR
5,564 m³
Parcel 11811L3652/00T003, Flanders · tallest building 15.8 m, ±4 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
CO3-DEVELOPMENT
since 20182.283.642.294
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11811L3652/00T003 | Flanders | 471 m² | 1 · 471 m² | 15.8 m · 4 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
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Of 1,294 companies in sector 68122 we hold annual accounts for 904. 417 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-12-2018
Fiscal year end31-12
Activities, NACEBEL 2025
68122Development of non-residential building projects
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.