Summary
COBEVAL 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 €1.1m and a net result of €13,910. Equity is growing by ~2.8% per year across the filed fiscal years. Its solvency ranks better than 44% of 2444 sector peers (fiscal year 2025). The company has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
61 d late
2023
30 d late
2022
95 d late
2021
96 d late
2020
94 d late
2019
90 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 63 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
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. Usually files around 30 September (4 of the last 5 filed years within 35 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Equity
€1.1m▲ 1.3%
2024 · €1.1m
Net result
€13,910
2024 · -€4,383
Total assets
€2.0m▼ 6.9%
2024 · €2.1m
Solvency
54.6%▲ 4.4pp
2024 · 50.1%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€42,425▼ 10.2%€38,361▼ 9.6%€50,659▲ 32.1%€29,199▼ 42.4%€28,375▼ 2.8%
Net result€30,569within the sector's middle half▲ 17.6%€28,951within the sector's middle half▼ 5.3%€41,270within the sector's middle half▲ 42.6%-€4,383below the sector's middle half€13,910within the sector's middle half
Equity€1.0mwithin the sector's middle half▲ 3.1%€1.0mwithin the sector's middle half▲ 2.9%€1.1mwithin the sector's middle half▲ 4.0%€1.1mwithin the sector's middle half▼ 0.4%€1.1mwithin the sector's middle half▲ 1.3%
Total assets€2.8mwithin the sector's middle half▼ 4.6%€2.8mwithin the sector's middle half▲ 0.4%€2.5mwithin the sector's middle half▼ 11.7%€2.1mwithin the sector's middle half▼ 14.2%€2.0mbelow the sector's middle half▼ 6.9%
Debt€1.8m▼ 8.5%€1.8m▼ 1.0%€1.4m▼ 20.8%€1.1m▼ 24.6%€899,312▼ 15.2%
Working capital€170,705within the sector's middle half▲ 21.8%€199,656within the sector's middle half▲ 17.0%€240,925within the sector's middle half▲ 20.7%€236,370within the sector's middle half▼ 1.9%€250,280within the sector's middle half▲ 5.9%
Solvency35.8%within the sector's middle half▲ 2.7pp36.7%within the sector's middle half▲ 0.9pp43.2%within the sector's middle half▲ 6.5pp50.1%within the sector's middle half▲ 6.9pp54.6%within the sector's middle half▲ 4.4pp
Current ratio1.10within the sector's middle half▲ 0.021.11within the sector's middle half▲ 0.021.17within the sector's middle half▲ 0.061.22within the sector's middle half▲ 0.051.28within the sector's middle half▲ 0.06
Return on assets (ROA)1.1%within the sector's middle half▲ 0.2pp1.0%within the sector's middle half▼ 0.1pp1.7%within the sector's middle half▲ 0.6pp-0.2%below the sector's middle half▼ 1.9pp0.7%within the sector's middle half▲ 0.9pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 3% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€830,526 =
Current assets
€1.1m ▼ 11.4%
Equity and liabilities €2.0m
Equity
€1.1m ▲ 1.3%
Debt
€899,312 ▼ 15.2%
Debt's share of the balance-sheet total falls from 49.9% to 45.4%. Equity is higher and debt is lower.
Key figures and ratios
ROE
1.3%▲
2024 · -0.4%
Debt ≤ 1 year
€899,312▼
2024 · €1.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €868 | €868 | €960 | €968 | €998 | ▲ 3.2% |
| Gross operating margin9900 | €43,293 | €39,229 | €51,619 | €30,167 | €29,373 | ▼ 2.6% |
| Operating profit (loss)9901 | €42,425 | €38,361 | €50,659 | €29,199 | €28,375 | ▼ 2.8% |
| Financial income75/76B | €35,971 | €33,629 | €30,862 | €21,908 | €8,181 | ▼ 62.7% |
| Recurring financial income75 | €35,971 | €33,629 | €30,862 | €21,908 | €8,181 | ▼ 62.7% |
| Financial charges65/66B | €47,827 | €43,039 | €40,252 | €55,491 | €22,646 | ▼ 59.2% |
| Recurring financial charges65 | €47,827 | €43,039 | €40,252 | €55,491 | €22,646 | ▼ 59.2% |
| Profit (loss) for the period before taxes9903 | €30,569 | €28,951 | €41,270 | -€4,383 | €13,910 | ▲ 417% |
| Profit (loss) for the period9904 | €30,569 | €28,951 | €41,270 | -€4,383 | €13,910 | ▲ 417% |
| Profit (loss) for the period to be appropriated9905 | €30,569 | €28,951 | €41,270 | -€4,383 | €13,910 | ▲ 417% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €2.8m | €2.5m | €2.1m | €2.0m | ▼ 6.9% |
| Fixed assets21/28 | €830,354 | €830,354 | €830,354 | €830,526 | €830,526 | = |
| Financial fixed assets28 | €830,354 | €830,354 | €830,354 | €830,526 | €830,526 | = |
| Current assets29/58 | €2.0m | €2.0m | €1.6m | €1.3m | €1.1m | ▼ 11.4% |
| Amounts receivable after more than one year29 | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Other amounts receivable291 | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Stocks and contracts in progress3 | €54,150 | €54,150 | €54,150 | €54,150 | €54,150 | = |
| Stocks30/36 | €54,150 | €54,150 | €54,150 | €54,150 | €54,150 | = |
| Amounts receivable within one year40/41 | €931,466 | €893,981 | €549,984 | €172,486 | €21,731 | ▼ 87.4% |
| Trade receivables40 | €21,731 | €21,906 | €23,569 | €21,731 | €21,731 | = |
| Other amounts receivable41 | €909,735 | €872,075 | €526,415 | €150,755 | - | - |
| Cash at bank and in hand54/58 | €644 | €15,907 | €1,554 | €6,082 | €1,289 | ▼ 78.8% |
| Deferred charges and accrued income490/1 | €377,842 | €411,471 | €442,333 | €464,242 | €472,422 | ▲ 1.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €2.8m | €2.5m | €2.1m | €2.0m | ▼ 6.9% |
| Equity10/15 | €1.0m | €1.0m | €1.1m | €1.1m | €1.1m | ▲ 1.3% |
| Contributions10/11 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Capital10 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Issued capital100 | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Profit (loss) carried forward14 | -€268,935 | -€239,984 | -€198,714 | -€203,097 | -€189,188 | ▲ 6.8% |
| Amounts payable17/49 | €1.8m | €1.8m | €1.4m | €1.1m | €899,312 | ▼ 15.2% |
| Amounts payable within one year42/48 | €1.8m | €1.8m | €1.4m | €1.1m | €899,312 | ▼ 15.2% |
| Trade debts44 | - | - | €1,591 | - | €24,000 | - |
| Suppliers440/4 | - | - | €1,591 | - | €24,000 | - |
| Taxes, remuneration and social security45 | €2,767 | €2,770 | €2,755 | €2,763 | €2,753 | ▼ 0.4% |
| Taxes450/3 | €2,767 | €2,770 | €2,755 | €2,763 | €2,753 | ▼ 0.4% |
| Other amounts payable47/48 | €1.8m | €1.8m | €1.4m | €1.1m | €872,559 | ▼ 17.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,569 | €28,951 | €41,270 | -€4,383 | €13,910 | ▲ 417% |
| Operating cash flow (approximation) | €30,569 | €28,951 | €41,270 | -€4,383 | €13,910 | ▲ 417% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€172 | €0 | ▲ 100% |
| Change in cash | - | €15,263 | -€14,353 | €4,528 | -€4,793 | ▼ 206% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Back to profitnet €13,910
Net result €13,910 after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 61 days late
2024
31-12
Financial
Weakest financial yearnet -€4,383
Net result drops to -€4,383, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 30 days late
2023
31-12
Financial
Highest result since 2018net €41,270 ▲42.6%
Operating result €50,659, net result €41,270, both a record.
03-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 95 days late
2022
04-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 96 days late
2021
31-12
Financial
Equity above €1mEq €1.0m ▲3.1%
4 profitable years in a row build equity to €1.0m.
02-11
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 94 days late
2020
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 90 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
09-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
07-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
14 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, Farciennes · 1 establishment unit since 1998
Ground area
8.0 ha
Building footprint
591 m²
Volume, LiDAR
8,880 m³
2 parcels, Brussels, Wallonia · tallest building 22.3 m, ±6 floors. Linked by address, not a title deed.
1 establishment unit
Adolphe Lacomblélaan 59 6, 1030 Schaarbeek
since 19982.087.177.704
2 parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52018C0327/00D002 | Wallonia | 7.8 ha | 1 · 199 m² | 10.5 m · 2 fl. |
| 21905C0149/00B013 | Brussels | 1,194 m² | 1 · 392 m² | 22.3 m · 6 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.
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- Recyrock
- COBEVAL
Highest known parent: Recyrock. The sources do not say who stands above it.
Owners 1
- RecyrockparentSourceown accounts 2025100%
Holdings 1
-
100%
According to the 2025 annual accounts of COBEVAL and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Identification & contact
Identification
Legal formPublic limited company
Founded23-02-1998
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
46810Wholesale of solid, liquid and gaseous fuels and related products
47781Retail sale of solid, liquid and gaseous fuels, excluding motor fuels
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0462735629
Also
9925:BE0462735629
Registered
12-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.