COBAR
ActiveSummary
COBAR has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €168k and a net result of €-8k. Equity is growing by ~3.2% per year across the filed fiscal years. Its solvency ranks better than 71% of 19356 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▼-6
Solvency84=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity short (current ratio 0.05 against 0.03 in 2024; short-term debt: 39% and cash: 2.1% of total assets), and 41.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
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 →
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 · Consistently profitable
Positive net result in the two most recent financial years (2023 and 2024).
NBB · annual accounts 2024Net result per financial year
18192021232425
2018 to 2025 · latest year €-8k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-09-2026, 55 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 · 10 filingsDeviation from the deadline
2025
55 d late
2024
70 d late
2023
112 d late
2021
117 d late
2020
82 d early
2019
97 d late
2018
26 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€168k▼ 4.4%
2024 · €176k
2018: €86k
2019: €83k▼ -2.6% vs 2018lowest value
2020: €168k▲ +101% vs 2019
2021: €165k▼ -1.9% vs 2020
2023: €170k
2024: €176k▲ +3.2% vs 2023highest value
2025: €168k▼ -4.4% vs 2024
2018 → 2025
Total assets
€286k▼ 4.6%
2024 · €300k
2018: €339k
2019: €337k▼ -0.5% vs 2018
2020: €422k▲ +25.2% vs 2019highest value
2021: €275k▼ -34.8% vs 2020lowest value
2023: €354k
2024: €300k▼ -15.3% vs 2023
2025: €286k▼ -4.6% vs 2024
2018 → 2025
Net result
€-8k
2024 · €5k
2018: €2k
2019: €-2k▼ -199% vs 2018
2020: €84k▲ +3886% vs 2019highest value
2021: €-3k▼ -104% vs 2020
2023: €4k
2024: €5k▲ +51.3% vs 2023
2025: €-8k▼ -242% vs 2024lowest value
2018 → 2025
Working capital
€-106k▲ 7.5%
2024 · €-114k
2018: €-234k
2019: €-235k● -0.0% vs 2018lowest value
2020: €-80k▲ +66.0% vs 2019highest value
2021: €-84k▼ -4.9% vs 2020
2023: €-172k
2024: €-114k▲ +33.7% vs 2023
2025: €-106k▲ +7.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202320242025Trend
Equity€168k-€165k▼ 1.9%€170k▲ 3.6%€176k▲ 3.2%€168k▼ 4.4%
2020: €168k
2021: €165k▼ -1.9% vs 2020lowest value
2023: €170k
2024: €176k▲ +3.2% vs 2023highest value
2025: €168k▼ -4.4% vs 2024
Operating result€118k-€698▼ 99.4%€7k▲ 831%€9k▲ 35.1%€3k▼ 67.9%
2020: €118khighest value
2021: €698▼ -99.4% vs 2020lowest value
2023: €7k
2024: €9k▲ +35.1% vs 2023
2025: €3k▼ -67.9% vs 2024
Net result€84k-€-3k€4k€5k▲ 51.3%€-8k
2020: €84khighest value
2021: €-3k▼ -104% vs 2020
2023: €4k
2024: €5k▲ +51.3% vs 2023
2025: €-8k▼ -242% vs 2024lowest value
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 falls in 2025; 2025 is 68% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €286k
Fixed assets
€280k ▼ 5.5%
Current assets
€6k ▲ 78.2%
Equity and liabilities €286k
Equity
€168k ▼ 4.4%
Debt
€118k ▼ 4.8%
Debt's share of the balance-sheet total falls from 41.4% to 41.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€19k▼
2024 · €21k
Cash flow
€9k▼
2024 · €17k
Current ratio
0.05▲
2024 · 0.03
Debt to equity
0.70▼
2024 · 0.71
ROE
-4.6%▼
2024 · 3.1%
ROA
-2.7%▼
2024 · 1.8%
Interest coverage
592.91▼
2024 · 600.31
Debt ≤ 1 year
€112k▼
2024 · €118k
Debt > 1 year
€7k=
2024 · €7k
Income taxes
€11k▲
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 42 lines
Balance sheet
Code20242025
Assets
Total assets20/58€300k€286k▼
Fixed assets21/28€297k€280k▼
Tangible fixed assets22/27€297k€280k▼
Land and buildings22€274k€262k▼
Furniture and vehicles24€23k€18k▼
Current assets29/58€3k€6k▲
Cash at bank and in hand54/58€3k€6k▲
Equity and liabilities
Total equity and liabilities10/49€300k€286k▼
Equity10/15€176k€168k▼
Contributions10/11€124k€124k=
Outside capital11€124k€124k=
Other1109/19€124k€124k=
Reserves13€52k€52k=
Non-distributable reserves130/1€12k€12k=
Reserves not available under the articles1311€12k€12k=
Distributable reserves133€40k€40k=
Profit (loss) carried forward14-€-8k
Amounts payable17/49€124k€118k▼
Amounts payable after more than one year17€7k€7k=
Other amounts payable178/9€7k€7k=
Amounts payable within one year42/48€118k€112k▼
Trade debts44€2k€759▼
Suppliers440/4€2k€759▼
Taxes, remuneration and social security45€7k€3k▼
Taxes450/3€7k€3k▼
Other amounts payable47/48€108k€108k▼
Income statement
Code20242025
Non-recurring operating income76A€6k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€16k▲
Other operating charges640/8€6k€5k▼
Gross operating margin9900€27k€24k▼
Operating profit (loss)9901€9k€3k▼
Financial income75/76B€1k€0▼
Recurring financial income75€1k€0▼
Financial charges65/66B€35€32▼
Recurring financial charges65€35€32▼
Profit (loss) for the period before taxes9903€10k€3k▼
Income taxes67/77€5k€11k▲
Profit (loss) for the period9904€5k€-8k▼
Profit (loss) for the period to be appropriated9905€5k€-8k▼
Appropriation of the result
Profit (loss) to be appropriated9906€5k€-8k▼
Transfer to equity691/2€5k-
To other reserves6921€5k-
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9k | €7k | €14k | €12k | €16k | ▲ 37.1% |
| Other operating charges640/8 | - | €5k | €5k | €6k | €5k | ▼ 17.2% |
| Gross operating margin9900 | €124k | €12k | €26k | €27k | €24k | ▼ 9.6% |
| Operating profit (loss)9901 | €118k | €698 | €7k | €9k | €3k | ▼ 67.9% |
| Financial income75/76B | - | - | - | €1k | €0 | ▼ 100.0% |
| Recurring financial income75 | €0 | - | - | €1k | €0 | ▼ 100.0% |
| Financial charges65/66B | - | €4k | €24 | €35 | €32 | ▼ 6.2% |
| Recurring financial charges65 | €28 | €4k | €24 | €35 | €32 | ▼ 6.2% |
| Profit (loss) for the period before taxes9903 | €118k | €-3k | €6k | €10k | €3k | ▼ 72.4% |
| Income taxes67/77 | €34k | - | €3k | €5k | €11k | ▲ 130% |
| Profit (loss) for the period9904 | €84k | €-3k | €4k | €5k | €-8k | ▼ 242% |
| Profit (loss) for the period to be appropriated9905 | €84k | €-3k | €4k | €5k | €-8k | ▼ 242% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €422k | €275k | €354k | €300k | €286k | ▼ 4.6% |
| Fixed assets21/28 | €326k | €254k | €349k | €297k | €280k | ▼ 5.5% |
| Tangible fixed assets22/27 | €326k | €254k | €349k | €297k | €280k | ▼ 5.5% |
| Land and buildings22 | - | €249k | €347k | €274k | €262k | ▼ 4.1% |
| Furniture and vehicles24 | - | €5k | €3k | €23k | €18k | ▼ 22.3% |
| Current assets29/58 | €169k | €21k | €5k | €3k | €6k | ▲ 78.2% |
| Amounts receivable within one year40/41 | €9k | - | - | - | - | - |
| Cash at bank and in hand54/58 | €160k | €21k | €5k | €3k | €6k | ▲ 78.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €422k | €275k | €354k | €300k | €286k | ▼ 4.6% |
| Equity10/15 | €168k | €165k | €170k | €176k | €168k | ▼ 4.4% |
| Contributions10/11 | €124k | €124k | €124k | €124k | €124k | = |
| Outside capital11 | - | €124k | €124k | €124k | €124k | = |
| Other1109/19 | - | €124k | €124k | €124k | €124k | = |
| Reserves13 | €44k | €44k | €47k | €52k | €52k | = |
| Non-distributable reserves130/1 | - | €12k | €12k | €12k | €12k | = |
| Reserves not available under the articles1311 | - | €12k | €12k | €12k | €12k | = |
| Distributable reserves133 | - | €31k | €34k | €40k | €40k | = |
| Profit (loss) carried forward14 | €-53k | €-3k | - | - | €-8k | - |
| Amounts payable17/49 | €254k | €110k | €184k | €124k | €118k | ▼ 4.8% |
| Amounts payable after more than one year17 | €8k | €6k | €7k | €7k | €7k | = |
| Other amounts payable178/9 | - | €6k | €7k | €7k | €7k | = |
| Amounts payable within one year42/48 | €248k | €105k | €177k | €118k | €112k | ▼ 5.1% |
| Trade debts44 | €1k | €7k | €2k | €2k | €759 | ▼ 60.1% |
| Suppliers440/4 | - | €7k | €2k | €2k | €759 | ▼ 60.1% |
| Taxes, remuneration and social security45 | - | €2k | €5k | €7k | €3k | ▼ 65.0% |
| Taxes450/3 | - | €2k | €5k | €7k | €3k | ▼ 65.0% |
| Other amounts payable47/48 | - | €96k | €170k | €108k | €108k | ▼ 0.1% |
| Line | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €84k | €-3k | €4k | €5k | €-8k | ▼ 242% |
| + Depreciation and write-downs630 | €9k | €7k | €14k | €12k | €16k | ▲ 37.1% |
| Operating cash flow (approximation) | €93k | €3k | €18k | €17k | €9k | ▼ 50.7% |
| Investment in fixed assets (approximation) | - | €65k | - | €41k | €0 | ▼ 100% |
| Change in cash | - | €-139k | - | €-2k | €3k | ▲ 255% |
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
24-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 55 days late
2025
31-12
Financial
Weakest financial yearnet €-8k
Net result drops to €-8k, the lowest in the series.
09-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 70 days late
2024
20-11
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 112 days late
2023
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
2022
25-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 117 days late
2021
10-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €84k
Net result €84k after one loss-making year.
31-12
Financial
Equity above €150kEq €168k ▲101%
Equity rises from €83k to €168k.
05-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 97 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
2016
14-11
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 106 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Knokke-Heist · 1 establishment unit since 1992
Ground area
821 m²
Building footprint
151 m²
Volume, LiDAR
845 m³
Parcel 31333K0012/00K004, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
COBAR
since 19922.060.029.778
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31333K0012/00K004 | Flanders | 821 m² | 1 · 151 m² | 8.8 m · 2 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.
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Of 11,748 companies in sector 68310 we hold annual accounts for 6,905. 5,225 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded04-07-1988
Fiscal year end31-12
Activities, NACEBEL 2025
68310Real estate agency activities
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.