Summary
COBEL is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €9.0m and a net result of €341,160. Equity remains stable across the filed financial years (±0.7% per year). Its solvency ranks better than 70% of 2,973 sector peers (NACE 64, financial year 2025). The company has been active since 1988 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, full format
In the rankings
#5 oldest company in Zwevegem, Finance and insurance sector#6 company by equity in Zwevegem, Finance and insurance sector#8 company by total assets in Zwevegem, Finance and insurance sector
Equity
€9.0m▲ 3.9%
2024 · €8.7m
Net result
€341,160
2024 · -€29,049
Total assets
€11.0m▲ 4.8%
2024 · €10.5m
Solvency
81.8%▼ 0.7pp
2024 · 82.6%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €63,676 in 2025 against €52,772 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.06m
2025
Net result€0.3m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€11.0m
2025
Equity€9.0m
2025
Debt€2.0m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€4.9m
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)3.1%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency81.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio3.42
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.05m--€0.07m▼ 40.6%-€0.04m▲ 36.0%-€0.05m▼ 18.7%-€0.05m▲ 11.2%-€0.03m▲ 29.8%-€0.05m▼ 59.9%-€0.06m▼ 20.7%
Net result-€0.2m-€0.2m€0.1mabove the sector's middle half▼ 28.1%€0.1mabove the sector's middle half▲ 10.1%-€0.2mbelow the sector's middle half€0.04mwithin the sector's middle half-€0.03mbelow the sector's middle half€0.3mwithin the sector's middle half
Equity€8.4m-€8.5m▲ 2.2%€8.7mabove the sector's middle half▲ 1.6%€8.8mabove the sector's middle half▲ 1.7%€8.7mabove the sector's middle half▼ 1.8%€8.7mabove the sector's middle half▲ 0.5%€8.7mabove the sector's middle half▼ 0.3%€9.0mwithin the sector's middle half▲ 3.9%
Total assets€10.7m-€9.0m▼ 16.1%€9.1mabove the sector's middle half▲ 1.8%€9.3mabove the sector's middle half▲ 1.9%€9.7mabove the sector's middle half▲ 3.9%€9.8mabove the sector's middle half▲ 1.1%€10.5mabove the sector's middle half▲ 7.7%€11.0mwithin the sector's middle half▲ 4.8%
Debt€2.3m-€0.4m▼ 81.7%€0.5m▲ 5.3%€0.5m▲ 5.5%€1.0m▲ 109%€1.1m▲ 6.0%€1.8m▲ 74.0%€2.0m▲ 9.2%
Working capital€7.8m-€7.9m▲ 1.5%€6.8mabove the sector's middle half▼ 14.2%€6.9mabove the sector's middle half▲ 2.2%€4.5mabove the sector's middle half▼ 34.9%€4.5mabove the sector's middle half▲ 0.9%€4.5mabove the sector's middle half▼ 0.6%€4.9mabove the sector's middle half▲ 7.6%
Solvency78.2%-95.2%▲ 17.1pp95.1%above the sector's middle half▼ 0.2pp94.9%above the sector's middle half▼ 0.2pp89.7%above the sector's middle half▼ 5.2pp89.2%above the sector's middle half▼ 0.5pp82.6%above the sector's middle half▼ 6.6pp81.8%within the sector's middle half▼ 0.7pp
Current ratio4.33-19.41▲ 15.0916.01above the sector's middle half▼ 3.4115.53above the sector's middle half▼ 0.475.52above the sector's middle half▼ 10.015.30above the sector's middle half▼ 0.223.46above the sector's middle half▼ 1.853.42above the sector's middle half▼ 0.04
Return on assets (ROA)-1.7%-2.1%▲ 3.8pp1.5%within the sector's middle half▼ 0.6pp1.6%within the sector's middle half▲ 0.1pp-1.6%below the sector's middle half▼ 3.2pp0.4%below the sector's middle half▲ 2.1pp-0.3%below the sector's middle half▼ 0.7pp3.1%within the sector's middle half▲ 3.4pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0below the sector's middle half
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.0m
Fixed assets
€4.2m =
Current assets
€6.9m ▲ 8.0%
Equity and liabilities €11.0m
Equity
€9.0m ▲ 3.9%
Debt
€2.0m ▲ 9.2%
Debt's share of the balance-sheet total rises from 17.4% to 18.2%. Equity and debt are higher.
Key figures and ratios
ROE
3.8%▲
2024 · -0.3%
Debt ≤ 1 year
€2.0m▲
2024 · €1.8m
Income taxes
€88,310▲
2024 · €12,901
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €900 | €900 | €900 | €1,317 | €460 | €440 | €443 | €443 | = |
| Other operating charges640/8 | - | - | - | €10,605 | €12,149 | €11,135 | €7,914 | €10,915 | ▲ 37.9% |
| Non-recurring operating charges66A | - | - | - | - | €3,003 | €0 | - | - | - |
| Gross operating margin9900 | -€37,107 | -€56,298 | -€36,680 | -€41,029 | -€31,389 | -€21,423 | -€44,414 | -€52,318 | ▼ 17.8% |
| Operating profit (loss)9901 | -€49,600 | -€69,727 | -€44,626 | -€52,951 | -€47,002 | -€32,997 | -€52,772 | -€63,676 | ▼ 20.7% |
| Financial income75/76B | - | - | - | €167,290 | €162,745 | €213,614 | €219,571 | €624,238 | ▲ 184% |
| Recurring financial income75 | €224,786 | €169,507 | €345,373 | €167,290 | €162,745 | €213,614 | €219,571 | €624,238 | ▲ 184% |
| Financial charges65/66B | - | - | - | -€48,988 | €274,076 | €108,518 | €182,947 | €131,093 | ▼ 28.3% |
| Recurring financial charges65 | €355,992 | -€87,901 | €152,482 | -€48,988 | €274,076 | €108,518 | €182,947 | €131,093 | ▼ 28.3% |
| Profit (loss) for the period before taxes9903 | -€180,805 | €187,681 | €148,265 | €163,326 | -€158,333 | €72,099 | -€16,148 | €429,469 | - |
| Income taxes67/77 | - | - | €13,400 | €14,800 | - | €29,107 | €12,901 | €88,310 | ▲ 585% |
| Profit (loss) for the period9904 | -€180,805 | €187,681 | €134,865 | €148,526 | -€158,333 | €42,992 | -€29,049 | €341,160 | - |
| Profit (loss) for the period to be appropriated9905 | -€180,805 | €187,681 | €134,865 | €148,526 | -€158,333 | €42,992 | -€29,049 | €341,160 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €10.7m | €9.0m | €9.1m | €9.3m | €9.7m | €9.8m | €10.5m | €11.0m | ▲ 4.8% |
| Fixed assets21/28 | €0.6m | €0.7m | €1.9m | €1.9m | €4.2m | €4.2m | €4.2m | €4.2m | = |
| Tangible fixed assets22/27 | €0.02m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | ▼ 0.6% |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.001m | €0.001m | €455 | €12 | ▼ 97.3% |
| Other tangible fixed assets26 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Financial fixed assets28 | €0.6m | €0.6m | €1.8m | €1.8m | €4.1m | €4.1m | €4.1m | €4.1m | = |
| Current assets29/58 | €10.1m | €8.3m | €7.2m | €7.4m | €5.5m | €5.6m | €6.3m | €6.9m | ▲ 8.0% |
| Amounts receivable after more than one year29 | - | - | - | €0.2m | €0.2m | €0.2m | €0 | - | - |
| Other amounts receivable291 | - | - | - | €0.2m | €0.2m | €0.2m | €0 | - | - |
| Amounts receivable within one year40/41 | €2.9m | €3.3m | €3.4m | €2.3m | €2.2m | €2.3m | €2.6m | €2.8m | ▲ 7.8% |
| Trade receivables40 | - | - | - | €0.002m | - | - | €0.001m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €2.3m | €2.2m | €2.3m | €2.6m | €2.8m | ▲ 7.8% |
| Current investments50/53 | €3.8m | €3.8m | €2.7m | €2.9m | €2.7m | €2.7m | €3.6m | €3.9m | ▲ 5.8% |
| Cash at bank and in hand54/58 | €3.2m | €1.1m | €0.9m | €2.1m | €0.4m | €0.4m | €0.1m | €0.2m | ▲ 96.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.007m | ▼ 66.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €10.7m | €9.0m | €9.1m | €9.3m | €9.7m | €9.8m | €10.5m | €11.0m | ▲ 4.8% |
| Equity10/15 | €8.4m | €8.5m | €8.7m | €8.8m | €8.7m | €8.7m | €8.7m | €9.0m | ▲ 3.9% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.3m | €0.3m | €0.5m | €0.6m | €0.6m | €0.7m | €0.7m | €1.0m | ▲ 52.4% |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Legal reserve130 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Distributable reserves133 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.7m | ▲ 84.9% |
| Profit (loss) carried forward14 | €7.9m | €8.1m | €8.1m | €8.1m | €8.0m | €8.0m | €7.9m | €7.9m | = |
| Amounts payable17/49 | €2.3m | €0.4m | €0.5m | €0.5m | €1.0m | €1.1m | €1.8m | €2.0m | ▲ 9.2% |
| Amounts payable within one year42/48 | €2.3m | €0.4m | €0.5m | €0.5m | €1.0m | €1.1m | €1.8m | €2.0m | ▲ 9.2% |
| Trade debts44 | €0.001m | €231 | €9 | - | - | - | €201 | €0.001m | ▲ 195% |
| Suppliers440/4 | - | - | - | - | - | - | €201 | €0.001m | ▲ 195% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.01m | €0.03m | €0.03m | €0.1m | ▲ 224% |
| Taxes450/3 | - | - | - | €0.02m | €0.01m | €0.03m | €0.03m | €0.1m | ▲ 224% |
| Other amounts payable47/48 | - | - | - | €0.5m | €1.0m | €1.0m | €1.8m | €1.9m | ▲ 5.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.2m | €0.2m | €0.1m | €0.1m | -€0.2m | €0.04m | -€0.03m | €0.3m | - |
| + Depreciation and write-downs630 | €0.001m | €0.001m | €0.001m | €0.001m | €460 | €440 | €443 | €443 | = |
| Operating cash flow (approximation) | -€0.2m | €0.2m | €0.1m | €0.1m | -€0.2m | €0.04m | -€0.03m | €0.3m | - |
| Investment in fixed assets (approximation) | - | -€0.07m | -€1.3m | €0 | -€2.3m | -€0.005m | €0 | €0 | - |
| Change in cash | - | -€2.1m | -€0.2m | €1.2m | -€1.7m | €0.006m | -€0.3m | €0.1m | - |
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 37 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-12-2025 | full format | 15-07-2026 | 2026-00295153 |
| 30-12-2024 | abbreviated format | 11-08-2025 | 2025-00368834 |
| 31-12-2023 | abbreviated format | 30-07-2024 | 2024-00301023 |
| 30-12-2022 | abbreviated format | 31-07-2023 | 2023-00293871 |
| 30-12-2021 | micro format | 07-07-2022 | 2022-20156873 |
| 30-12-2020 | micro format | 24-06-2021 | 2021-23800008 |
| 30-12-2019 | micro format | 11-06-2020 | 2020-16100454 |
| 30-12-2018 | micro format | 28-06-2019 | 2019-24600561 |
| 30-12-2017 | micro format | 02-07-2018 | 2018-29900238 |
| 30-12-2016 | abbreviated format | 22-05-2017 | 2017-13100017 |
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Of the 24,455 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 19,974. 6,344 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.