CO3-DEVELOPMENT
ActiveSummary
The computed 12-month bankruptcy probability of CO3-DEVELOPMENT is 2.7% (moderate). The 2025 annual accounts show equity of €56,408 and a net result of €25,000. Equity has been growing by about 19% per year since 2019. Its solvency ranks better than 38% of 17,149 sector peers (NACE 68, financial year 2025). The company has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 18-12-2018 Normal situation
- Activity
- Development of non-residential building projects NACE 68122
- Establishment unit
- 2.283.642.294 2000 Antwerpen, since 18-12-2018
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Financial position
- Bankruptcy probabilitywithin 12 months
- 2.7%
- Gross margin
- €146,580
- ▼ 70.2%
- Turnover
- ≈ €260,000
- estimated
- Profit
- €25,000
- ▼ 77.2%
- Equity
- €56,408
- ▲ 79.6%
- Total assets
- €371,738
- ▲ 55.3%
- 2025 accounts filed 66 days after the deadline
Score breakdownraises riskLast filed accounts filed 66 days late; 2 of the last 3 accounts lateLiquidity: current ratio 1.19, cash €1, halvedFigures for financial year 2025 (filed on 10-10-2026)lowers riskSector: Real estate activities (NACE 68)Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 36% of them on solvency, 7% on liquidity, 45% on profitability and 90% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 45 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 66 days after the deadline Filed on 5 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00553061.
Annual accounts 2025 filed on 05-10-2026 at the NBB all 7 filings
Every figure per financial year
The operating result for 2025 is 85% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,083 | - | - | - | - |
| Depreciation and write-downs of the year | €472 | €361 | €361 | €126 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €237 | €237 | €472 | €361 | €361 | €126 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €273,190 | €109,278 | ▼ 60.0% |
| Other operating charges640/8 | - | - | €17,480 | €1,147 | €3,348 | €1,281 | €4,309 | ▲ 236% |
| Gross operating margin9900 | -€57,168 | €41,572 | -€44,693 | €10,100 | €57,908 | €492,595 | €146,580 | ▼ 70.2% |
| Operating profit (loss)9901 | -€64,645 | €39,190 | -€62,645 | €8,592 | €54,199 | €217,999 | €32,992 | ▼ 84.9% |
| Financial income75/76B | - | - | €740 | €2,533 | €2,692 | €8,373 | €9,093 | ▲ 8.6% |
| Recurring financial income75 | €1 | €48 | €740 | €2,533 | €2,692 | €8,373 | €9,093 | ▲ 8.6% |
| Financial charges65/66B | - | - | €13,854 | €19,797 | €46,269 | €116,683 | €8,800 | ▼ 92.5% |
| Recurring financial charges65 | €197 | €20,867 | €13,854 | €19,797 | €46,269 | €116,683 | €8,800 | ▼ 92.5% |
| Profit (loss) for the period before taxes9903 | -€64,841 | €18,371 | -€75,760 | -€8,672 | €10,622 | €109,689 | €33,286 | ▼ 69.7% |
| Income taxes67/77 | - | - | - | - | - | - | €8,286 | - |
| Profit (loss) for the period9904 | -€64,841 | €18,371 | -€75,760 | -€8,672 | €10,622 | €109,689 | €25,000 | ▼ 77.2% |
| Profit (loss) for the period to be appropriated9905 | -€64,841 | €18,371 | -€75,760 | -€8,672 | €10,622 | €109,689 | €25,000 | ▼ 77.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.2m | €0.8m | €1.2m | €1.2m | €1.2m | €0.2m | €0.4m | ▲ 55.3% |
| Fixed assets21/28 | €473 | €237 | €0.001m | €487 | €126 | - | - | - |
| Tangible fixed assets22/27 | €473 | €237 | €0.001m | €487 | €126 | - | - | - |
| Furniture and vehicles24 | - | - | €0.001m | €487 | €126 | - | - | - |
| Current assets29/58 | €0.2m | €0.8m | €1.2m | €1.2m | €1.2m | €0.2m | €0.4m | ▲ 55.3% |
| Stocks and contracts in progress3 | €0.2m | €0.8m | €1.1m | €1.2m | €1.2m | €0.06m | - | - |
| Stocks30/36 | - | - | €1.1m | €1.2m | €1.2m | €0.06m | - | - |
| Amounts receivable within one year40/41 | €0.01m | €0.007m | €0.03m | €0.03m | €0.03m | €0.1m | €0.4m | ▲ 167% |
| Trade receivables40 | - | - | - | - | - | €0.01m | €0.3m | ▲ 19× |
| Other amounts receivable41 | - | - | €0.03m | €0.03m | €0.03m | €0.1m | €0.09m | ▼ 29.3% |
| Cash at bank and in hand54/58 | €0.003m | €0.003m | €0.002m | €0.02m | - | €0.04m | €1 | ▼ 100.0% |
| Deferred charges and accrued income490/1 | - | - | €0.001m | €0.003m | €0.003m | - | €27 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.2m | €0.8m | €1.2m | €1.2m | €1.2m | €0.2m | €0.4m | ▲ 55.3% |
| Equity10/15 | -€0.02m | -€0.004m | -€0.08m | -€0.09m | -€0.08m | €0.03m | €0.06m | ▲ 79.6% |
| Contributions10/11 | €0.04m | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Profit (loss) carried forward14 | -€0.06m | -€0.05m | -€0.1m | -€0.1m | -€0.1m | -€0.01m | €0.01m | - |
| Amounts payable17/49 | €0.2m | €0.8m | €1.2m | €1.3m | €1.3m | €0.2m | €0.3m | ▲ 51.6% |
| Amounts payable after more than one year17 | - | €0.7m | €1.1m | €1.1m | €1.1m | €0.2m | €0.001m | ▼ 99.5% |
| Financial debts170/4 | - | - | €1.1m | €1.1m | €1.1m | €0.2m | €0.001m | ▼ 99.5% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.01m | €0.3m | ▲ 26× |
| Trade debts44 | €0.2m | €0.2m | €0.2m | €0.2m | €0.07m | €0.01m | €0.3m | ▲ 31× |
| Suppliers440/4 | - | - | €0.2m | €0.2m | €0.07m | €0.01m | €0.3m | ▲ 31× |
| Taxes, remuneration and social security45 | - | - | - | - | - | €0.002m | €0.003m | ▲ 73.6% |
| Taxes450/3 | - | - | - | - | - | €0.002m | €0.003m | ▲ 73.6% |
| Other amounts payable47/48 | - | - | €0.04m | €0.05m | €0.08m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.003m | €0.003m | €0.003m | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€64,841 | €18,371 | -€75,760 | -€8,672 | €10,622 | €109,689 | €25,000 | ▼ 77.2% |
| + Depreciation and write-downs630 | €237 | €237 | €472 | €361 | €361 | €126 | - | - |
| Operating cash flow (approximation) | -€64,605 | €18,607 | -€75,288 | -€8,311 | €10,983 | €109,815 | €25,000 | ▼ 77.2% |
| Investment in fixed assets (approximation) | - | €0 | -€1,083 | €0 | €0 | - | - | - |
| Change in cash | - | -€441 | -€1,062 | €17,815 | - | - | -€42,723 | - |
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, 6,713 companies had the same profile as CO3-DEVELOPMENT has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CO3-DEVELOPMENT itself is higher: 2.7% within 12 months. It rests on far more data about CO3-DEVELOPMENT than the profile alone.
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 6,713 companies, not a prediction for CO3-DEVELOPMENT. 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.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 05-10-2026 | 2026-00553061 | |
| 31-12-2024 | micro format | 07-10-2025 | 2025-00534236 | |
| 31-12-2023 | micro format | 21-08-2024 | 2024-00354592 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00405642 | |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20441894 | |
| 31-12-2020 | micro format | 28-09-2021 | 2021-68800112 | |
| 31-12-2019 | abbreviated format | 12-08-2020 | 2020-40800586 |
Board & ownership
Directors
Owners and capital
Shareholders
- William Vekemans all shares
- Daniel Banach to William Vekemans 140 shares
- Avi Perlberger to William Vekemans 140 shares
Capital transactions
- 02-01-2024 Converted to unavailable equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Ludovic Vekemans |
|
| VEKEMANS William Henry Adam |
|
| Avi Perlberger |
|
| Daniel Banach |
|
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “11, handelingen die wet of statuten aan algemene vergadering voorbehouden”
deed of 02-04-2025 (in Dutch)
Capital, shares and profit
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Helft overdrager,helft koper(s) naar evenredigheid aantal bij meer kopers, prijs oorspronkelijke bekendmaking of bij betwisting door…”
deed of 02-01-2024 (in Dutch)
Audit, dissolution and liquidation
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Algemene vergadering kan één of meerdere vereffenaars aanduiden,bevoegdheden omlijnen en vergoeding bepalen, bestuurder(s) in functie als…”
deed of 02-01-2024 (in Dutch)
Network & group
CO3-DEVELOPMENT shares no director with another company.
Companies at the same address
3 other companiesConnections & network
1 current directorThe network starts from the directors of CO3-DEVELOPMENT. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
08-06
Gazette deed
Resignation: William Vekemans (director)Appointment: Ludovic Vekemans (director) · Director discharge · Power of attorney5 points ▸
- General meeting, 19-03-2026
- Director resignation, William Vekemans (director (not named in the articles))
- Director discharge, William Vekemans (director (not named in the articles))
- Director appointment, Ludovic Vekemans (director (not named in the articles))
- Power of attorney, William Vekemans (manager / algemeen directeur)
02-04
Gazette deed
Resignations: Daniel Banach (statutory director) and Avi Perlberger (statutory director)Share transfer · Shareholding · Director discharge8 points ▸
- General meeting, 20-03-2025
- Share transfer, Daniel Banach → William Vekemans
- Share transfer, Avi Perlberger → William Vekemans
- William Vekemans holds all the shares
- Director resignation, Daniel Banach (statutory director)
- Director resignation, Avi Perlberger (statutory director)
- Director discharge, Daniel Banach (mandaat)
- Director discharge, Avi Perlberger (mandaat)
02-01
Gazette deed
Changes of role: PERLBERGER Avi, VEKEMANS William Henry Adam and BANACH DanielCapital conversion · Amendment of the articles · Capital12 points ▸
- General meeting, 20-12-2023
- Other provision, “aanpassing statuten aan WVV en behoud rechtsvorm, statuten aanpassen en rechtsvorm besloten vennootschap behouden” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Amendment of the articles
- Capital
- Other provision, “terminologie WVV sinds 2020-01-01, van rechtswege vervangen en omgezet” (deed in Dutch)
- Director resignation, PERLBERGER Avi (statutory manager)
- Director resignation, VEKEMANS William Henry Adam (statutory manager)
- Director resignation, BANACH Daniel (statutory manager)
- Director appointment, PERLBERGER Avi (statutory director)
- Director appointment, VEKEMANS William Henry Adam (statutory director)
- Director appointment, BANACH Daniel (statutory director)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0715.955.416
Financial year and general meeting
Accounts at the NBBEnvironmental permits
Source: Omgevingsloket Vlaanderen.
Sites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11811L3652/00T003 | Flanders | 471 m² | 1 · 471 m² | 15.8 m · 4 |
1 of these parcels carries protected heritage. Expect extra rules on renovation or sale.