COBEA
ActiveSummary
COBEA has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €74,673 and a net result of -€5,219. Equity is shrinking by about 6.1% per year across the filed financial years. Its solvency ranks better than 61% of 3,011 sector peers (NACE 86, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, abbreviated format
Equity
€74,673▼ 6.5%
2024 · €79,892
Total assets
€105,563▼ 10.7%
2024 · €118,216
Net result
-€5,219
2024 · €3,463
Working capital
-€5,236▼ 30,734%
2024 · -€17
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result turns negative in 2025: a loss of €5,114 after €3,613 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€5,114
2025
Net result-€5,219
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€105,563
2025
Equity€74,673
2025
Debt€30,890
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€5,236
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-4.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency70.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.83
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 86, Human health activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€1,785-€254▼ 85.8%-€7,204€1,837-€1,395-€28,076▼ 1,912%€3,613-€5,114
Net result€1,542--€485-€7,687below the sector's middle half▼ 1,486%-€2,106below the sector's middle half▲ 72.6%-€1,732below the sector's middle half▲ 17.8%-€28,162below the sector's middle half▼ 1,526%€3,463below the sector's middle half-€5,219below the sector's middle half
Equity€116,601-€116,116▼ 0.4%€108,429within the sector's middle half▼ 6.6%€106,323within the sector's middle half▼ 1.9%€104,591within the sector's middle half▼ 1.6%€76,429within the sector's middle half▼ 26.9%€79,892within the sector's middle half▲ 4.5%€74,673below the sector's middle half▼ 6.5%
Total assets€123,166-€144,241▲ 17.1%€128,935below the sector's middle half▼ 10.6%€122,320below the sector's middle half▼ 5.1%€112,096below the sector's middle half▼ 8.4%€79,632below the sector's middle half▼ 29.0%€118,216below the sector's middle half▲ 48.5%€105,563below the sector's middle half▼ 10.7%
Debt€6,566-€28,125▲ 328%€20,506▼ 27.1%€15,997▼ 22.0%€7,505▼ 53.1%€3,203▼ 57.3%€38,324▲ 12×€30,890▼ 19.4%
Working capital€53,418-€40,420▼ 24.3%€29,793within the sector's middle half▼ 26.3%€27,809within the sector's middle half▼ 6.7%€33,082within the sector's middle half▲ 19.0%€15,628below the sector's middle half▼ 52.8%-€17below the sector's middle half-€5,236below the sector's middle half▼ 30,734%
Solvency94.7%-80.5%▼ 14.2pp84.1%above the sector's middle half▲ 3.6pp86.9%above the sector's middle half▲ 2.8pp93.3%above the sector's middle half▲ 6.4pp96.0%above the sector's middle half▲ 2.7pp67.6%within the sector's middle half▼ 28.4pp70.7%within the sector's middle half▲ 3.2pp
Current ratio9.14-4.69▼ 4.453.74within the sector's middle half▼ 0.952.98within the sector's middle half▼ 0.766.59above the sector's middle half▲ 3.615.88within the sector's middle half▼ 0.711.00below the sector's middle half▼ 4.880.83below the sector's middle half▼ 0.17
Return on assets (ROA)1.3%--0.3%▼ 1.6pp-6.0%below the sector's middle half▼ 5.6pp-1.7%below the sector's middle half▲ 4.2pp-1.5%below the sector's middle half▲ 0.2pp-35.4%below the sector's middle half▼ 33.8pp2.9%below the sector's middle half▲ 38.3pp-4.9%below the sector's middle half▼ 7.9pp
above
within
below
the middle half of NACE 86, Human health activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €105,563
Fixed assets
€79,909 =
Current assets
€25,654 ▼ 33.0%
Equity and liabilities €105,563
Equity
€74,673 ▼ 6.5%
Debt
€30,890 ▼ 19.4%
Debt's share of the balance-sheet total falls from 32.4% to 29.3%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.41▼
2024 · 0.48
ROE
-7.0%▼
2024 · 4.3%
Debt ≤ 1 year
€30,890▼
2024 · €38,324
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €28,403 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,773 | €14,800 | €7,981 | €7,803 | €7,359 | €7,339 | €397 | - | - |
| Other operating charges640/8 | - | - | - | €1,711 | €2,077 | €2,347 | €1,990 | €1,057 | ▼ 46.9% |
| Gross operating margin9900 | €14,170 | €18,897 | €2,465 | €11,351 | €8,041 | -€18,390 | €6,000 | -€4,057 | - |
| Operating profit (loss)9901 | €1,785 | €254 | -€7,204 | €1,837 | -€1,395 | -€28,076 | €3,613 | -€5,114 | - |
| Financial income75/76B | - | - | - | - | €10 | €46 | €8 | - | - |
| Recurring financial income75 | €1 | €1 | - | - | €10 | €4 | €8 | - | - |
| Non-recurring financial income76B | - | - | - | - | - | €42 | - | - | - |
| Financial charges65/66B | - | - | - | €378 | €245 | €132 | €155 | €104 | ▼ 32.8% |
| Recurring financial charges65 | €89 | €739 | €482 | €378 | €245 | €132 | €155 | €104 | ▼ 32.8% |
| Profit (loss) for the period before taxes9903 | €1,697 | -€485 | -€7,687 | €1,459 | -€1,630 | -€28,162 | €3,466 | -€5,219 | - |
| Income taxes67/77 | €154 | €0 | - | €3,565 | €102 | - | €2 | - | - |
| Profit (loss) for the period9904 | €1,542 | -€485 | -€7,687 | -€2,106 | -€1,732 | -€28,162 | €3,463 | -€5,219 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €14,910 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €1,542 | -€485 | -€7,687 | €12,804 | -€1,732 | -€28,162 | €3,463 | -€5,219 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €123,166 | €144,241 | €128,935 | €122,320 | €112,096 | €79,632 | €118,216 | €105,563 | ▼ 10.7% |
| Fixed assets21/28 | €63,182 | €92,854 | €88,260 | €80,457 | €73,098 | €60,801 | €79,909 | €79,909 | = |
| Tangible fixed assets22/27 | €8,646 | €38,317 | €33,723 | €25,921 | €18,561 | €11,222 | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €25,921 | €18,561 | €11,222 | - | - | - |
| Financial fixed assets28 | €54,537 | €54,537 | €54,537 | €54,537 | €54,537 | €49,579 | €79,909 | €79,909 | = |
| Current assets29/58 | €59,984 | €51,387 | €40,675 | €41,863 | €38,998 | €18,831 | €38,307 | €25,654 | ▼ 33.0% |
| Amounts receivable within one year40/41 | €5,000 | €5,000 | €5,494 | €1,036 | €1,714 | €2,107 | - | €23,972 | - |
| Trade receivables40 | - | - | - | - | €12 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €1,036 | €1,702 | €2,107 | - | €23,972 | - |
| Cash at bank and in hand54/58 | €42,725 | €35,147 | €20,411 | €26,424 | €23,326 | €9,678 | €38,220 | €1,682 | ▼ 95.6% |
| Deferred charges and accrued income490/1 | - | - | - | €14,402 | €13,957 | €7,046 | €88 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €123,166 | €144,241 | €128,935 | €122,320 | €112,096 | €79,632 | €118,216 | €105,563 | ▼ 10.7% |
| Equity10/15 | €116,601 | €116,116 | €108,429 | €106,323 | €104,591 | €76,429 | €79,892 | €74,673 | ▼ 6.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | - | - | - | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €67,900 | €67,900 | €67,900 | €65,793 | €65,793 | €65,793 | €65,793 | €65,793 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €63,933 | €63,933 | €63,933 | €63,933 | €63,933 | = |
| Profit (loss) carried forward14 | €30,101 | €29,616 | €21,930 | €21,930 | €20,198 | -€7,965 | -€4,501 | -€9,720 | ▼ 116% |
| Amounts payable17/49 | €6,566 | €28,125 | €20,506 | €15,997 | €7,505 | €3,203 | €38,324 | €30,890 | ▼ 19.4% |
| Amounts payable after more than one year17 | - | €17,158 | €9,624 | €1,943 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €1,943 | - | - | - | - | - |
| Amounts payable within one year42/48 | €6,566 | €10,967 | €10,883 | €14,054 | €5,915 | €3,203 | €38,324 | €30,890 | ▼ 19.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,680 | €1,943 | - | - | - | - |
| Trade debts44 | €5,123 | €3,576 | €3,348 | €2,472 | - | €3,160 | - | - | - |
| Suppliers440/4 | - | - | - | €2,472 | - | €3,160 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €3,901 | €3,972 | €43 | - | - | - |
| Taxes450/3 | - | - | - | €3,901 | €3,972 | €43 | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | - | €38,324 | €30,890 | ▼ 19.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,590 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,542 | -€485 | -€7,687 | -€2,106 | -€1,732 | -€28,162 | €3,463 | -€5,219 | - |
| + Depreciation and write-downs630 | €10,773 | €14,800 | €7,981 | €7,803 | €7,359 | €7,339 | €397 | - | - |
| Operating cash flow (approximation) | €12,315 | €14,316 | €294 | €5,696 | €5,627 | -€20,823 | €3,860 | -€5,219 | - |
| Investment in fixed assets (approximation) | - | -€44,472 | -€3,387 | €0 | €0 | €4,958 | -€19,505 | €0 | - |
| Change in cash | - | -€7,578 | -€14,735 | €6,013 | -€3,098 | -€13,648 | €28,541 | -€36,537 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 27 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-06-2026 | 2026-00265544 |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00231085 |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00445055 |
| 31-12-2022 | micro format | 29-09-2023 | 2023-00460058 |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20361597 |
| 31-12-2020 | micro format | 30-08-2021 | 2021-65700088 |
| 31-12-2019 | micro format | 30-10-2020 | 2020-67500397 |
| 31-12-2018 | micro format | 30-08-2019 | 2019-62300062 |
| 31-12-2017 | micro format | 27-08-2018 | 2018-53400508 |
| 31-12-2016 | micro format | 31-08-2017 | 2017-59300185 |
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Of the 695 active companies whose main activity is medical imaging and medical laboratories (NACE 86910), figures are known for 528. 311 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.