COALITION
ActiveSummary
COALITION has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.2m and a net result of €245,866. Equity is growing by ~13.1% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▼-17
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €160,000 at 30 days acceptable
Liquidity ample (current ratio 22.44 against 18.32 in 2024; short-term debt: 4.5% and cash: 7.4% of total assets), and 5.4% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
94.6%
Return on assets
10.5%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-01-2026, 26 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
26 d early
2024
18 d early
2023
42 d early
2022
34 d early
2021
22 d late
2020
8 d late
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 13 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 5 January (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close30-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€2.2m▲ 1.4%
2024 · €2.2m
Total assets
€2.3m=
2024 · €2.3m
Net result
€245,866▼ 39.8%
2024 · €408,176
Working capital
€2.2m▲ 1.2%
2024 · €2.2m
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€570,148▲ 33.7%€697,062▲ 22.3%€539,630▼ 22.6%€536,038▼ 0.7%€296,598▼ 44.7%
Net result€399,935▲ 40.6%€432,199▲ 8.1%€315,538▼ 27.0%€408,176▲ 29.4%€245,866▼ 39.8%
Equity€1.5m▲ 36.8%€1.9m▲ 29.0%€1.9m▲ 0.4%€2.2m▲ 13.0%€2.2m▲ 1.4%
Total assets€1.7m▲ 30.8%€2.2m▲ 23.9%€2.1m▼ 4.0%€2.3m▲ 12.9%€2.3m=
Debt€250,194▲ 3.7%€233,347▼ 6.7%€139,902▼ 40.0%€156,617▲ 11.9%€126,026▼ 19.5%
Working capital€1.5m▲ 37.9%€1.9m▲ 29.7%€1.9m▲ 0.4%€2.2m▲ 16.4%€2.2m▲ 1.2%
Staff (FTE)0
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 45% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.3m
Fixed assets
€2,601 ▼ 46.3%
Current assets
€2.3m ▲ 0.1%
Equity and liabilities €2.3m
Equity
€2.2m ▲ 1.4%
Debt
€126,026 ▼ 19.5%
Debt's share of the balance-sheet total falls from 6.7% to 5.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€298,025▼
2024 · €538,251
Cash flow
€247,294▼
2024 · €410,389
Current ratio
22.44▲
2024 · 18.32
Debt to equity
0.06▼
2024 · 0.07
ROE
11.1%▼
2024 · 18.8%
ROA
10.5%▼
2024 · 17.5%
Interest coverage
-63.98▼
2024 · -19.20
Debt ≤ 1 year
€103,761▼
2024 · €126,987
Debt > 1 year
€22,008▼
2024 · €29,630
Income taxes
€112,415▼
2024 · €191,679
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,134 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a higher bankruptcy probability: 0.9% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 20,134 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,527 | €11,444 | €8,040 | €2,213 | €1,427 | ▼ 35.5% |
| Other operating charges640/8 | - | €1,565 | €1,913 | €3,758 | €4,257 | ▲ 13.3% |
| Non-recurring operating charges66A | - | - | - | €1,403 | €816 | ▼ 41.8% |
| Gross operating margin9900 | €588,620 | €710,071 | €549,583 | €543,412 | €303,097 | ▼ 44.2% |
| Operating profit (loss)9901 | €570,148 | €697,062 | €539,630 | €536,038 | €296,598 | ▼ 44.7% |
| Financial income75/76B | - | €10,624 | €7,164 | €35,779 | €57,025 | ▲ 59.4% |
| Recurring financial income75 | €1,628 | €10,624 | €7,164 | €35,779 | €57,025 | ▲ 59.4% |
| Financial charges65/66B | - | €52,361 | €49,402 | -€28,038 | -€4,658 | ▲ 83.4% |
| Recurring financial charges65 | €1,324 | €52,361 | €49,402 | -€28,038 | -€4,658 | ▲ 83.4% |
| Profit (loss) for the period before taxes9903 | €570,452 | €655,326 | €497,392 | €599,855 | €358,281 | ▼ 40.3% |
| Income taxes67/77 | €170,517 | €223,127 | €181,854 | €191,679 | €112,415 | ▼ 41.4% |
| Profit (loss) for the period9904 | €399,935 | €432,199 | €315,538 | €408,176 | €245,866 | ▼ 39.8% |
| Transfer from tax-exempt reserves789 | - | - | €194,250 | €89,000 | €0 | ▼ 100% |
| Transfer to tax-exempt reserves689 | - | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €294,685 | €432,199 | €509,788 | €497,176 | €245,866 | ▼ 50.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €2.2m | €2.1m | €2.3m | €2.3m | = |
| Fixed assets21/28 | €85,995 | €80,271 | €72,231 | €4,844 | €2,601 | ▼ 46.3% |
| Tangible fixed assets22/27 | €85,745 | €80,271 | €72,231 | €4,844 | €2,601 | ▼ 46.3% |
| Land and buildings22 | - | €71,470 | €65,465 | €0 | - | - |
| Plant, machinery and equipment23 | - | €1,172 | €938 | €0 | - | - |
| Furniture and vehicles24 | - | €7,629 | €5,828 | €4,844 | €2,601 | ▼ 46.3% |
| Financial fixed assets28 | €250 | €0 | - | - | - | - |
| Current assets29/58 | €1.6m | €2.1m | €2.0m | €2.3m | €2.3m | ▲ 0.1% |
| Amounts receivable within one year40/41 | - | - | €144,967 | €198,741 | €160,904 | ▼ 19.0% |
| Other amounts receivable41 | - | - | €144,967 | €198,741 | €160,904 | ▼ 19.0% |
| Current investments50/53 | €270,000 | €1.2m | €1.6m | €1.9m | €2.0m | ▲ 4.5% |
| Cash at bank and in hand54/58 | €1.4m | €899,141 | €254,262 | €217,377 | €172,166 | ▼ 20.8% |
| Deferred charges and accrued income490/1 | - | €7,763 | €2,440 | €3,019 | €2,963 | ▼ 1.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €2.2m | €2.1m | €2.3m | €2.3m | = |
| Equity10/15 | €1.5m | €1.9m | €1.9m | €2.2m | €2.2m | ▲ 1.4% |
| Contributions10/11 | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Reserves13 | €1.5m | €1.9m | €1.9m | €2.1m | €2.2m | ▲ 1.4% |
| Non-distributable reserves130/1 | - | €3,000 | €3,000 | €0 | - | - |
| Reserves not available under the articles1311 | - | €3,000 | €3,000 | €0 | - | - |
| Tax-exempt reserves132 | - | €283,250 | €89,000 | €0 | - | - |
| Distributable reserves133 | - | €1.6m | €1.8m | €2.1m | €2.2m | ▲ 1.4% |
| Profit (loss) carried forward14 | €1,096 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €250,194 | €233,347 | €139,902 | €156,617 | €126,026 | ▼ 19.5% |
| Amounts payable after more than one year17 | €51,434 | €44,649 | €37,177 | €29,630 | €22,008 | ▼ 25.7% |
| Financial debts170/4 | - | €44,649 | €37,177 | €29,630 | €22,008 | ▼ 25.7% |
| Amounts payable within one year42/48 | €198,760 | €188,534 | €102,544 | €126,987 | €103,761 | ▼ 18.3% |
| Current portion of amounts payable after more than one year42 | - | €7,399 | €7,472 | €7,547 | €7,622 | ▲ 1.0% |
| Financial debts43 | - | €28,455 | €28,604 | €45,675 | €45,518 | ▼ 0.3% |
| Credit institutions430/8 | - | €28,455 | €28,604 | €45,675 | €45,518 | ▼ 0.3% |
| Trade debts44 | €301 | €1,255 | €2,802 | €2,731 | €5,079 | ▲ 86.0% |
| Suppliers440/4 | - | €1,255 | €2,802 | €2,731 | €5,079 | ▲ 86.0% |
| Taxes, remuneration and social security45 | - | €120,692 | €55,099 | €62,495 | €36,287 | ▼ 41.9% |
| Taxes450/3 | - | €120,692 | €55,099 | €57,670 | €36,287 | ▼ 37.1% |
| Remuneration and social security454/9 | - | - | - | €4,825 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €30,733 | €8,567 | €8,539 | €9,256 | ▲ 8.4% |
| Accrued charges and deferred income492/3 | - | €164 | €182 | €0 | €256 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €399,935 | €432,199 | €315,538 | €408,176 | €245,866 | ▼ 39.8% |
| + Depreciation and write-downs630 | €6,527 | €11,444 | €8,040 | €2,213 | €1,427 | ▼ 35.5% |
| Operating cash flow (approximation) | €406,463 | €443,643 | €323,578 | €410,389 | €247,294 | ▼ 39.7% |
| Investment in fixed assets (approximation) | - | -€5,720 | €0 | €65,174 | €816 | ▼ 98.7% |
| Change in cash | - | -€478,883 | -€644,879 | -€36,885 | -€45,212 | ▼ 22.6% |
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
Next filing, fiscal year 2026, expected by
2026
05-01
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial
Weakest financial yearnet €245,866 ▼39.8%
Net result drops to €245,866, the lowest in the series.
13-01
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-06
Financial
Equity above €2mEq €2.2m ▲13%
6 profitable years in a row build equity to €2.2m.
2023
20-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
28-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Highest result since 2019net €432,199 ▲8.1%
Operating result €697,062, net result €432,199, both a record.
22-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 22 days late
2021
08-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 8 days late
2020
30-06
Financial
Equity above €1mEq €1.1m ▲35.5%
2 profitable years in a row build equity to €1.1m.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
24-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
02-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
12-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 10 acts read
About the unread acts
We know of 10 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
No directors read yet: 0 of 10 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Brugge · 2 establishment units since 1999
Ground area
13.8 ha
Building footprint
3.5 ha
Volume, LiDAR
1,050 m³
2 parcels, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
COALITION
since 19992.092.805.979
AZ Groeninge
since 20242.367.385.166
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34026A0631/00H000 | Flanders | 13.7 ha | 1 · 3.4 ha | - |
| 31027D0114/00N000 | Flanders | 1,455 m² | 1 · 174 m² | 10.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Legal Entity Identifier
8945004CQWNBTSE0LR15
Company details
Identification
Legal formPrivate limited company
Founded06-10-1999
Fiscal year end30-06
E-invoicing
Reachable via Peppol
Peppol ID
0208:0466997392
Also
9925:BE0466997392
Registered
24-11-2023
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.