COBEX
ActiveSummary
COBEX has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €177,474 and a net result of €2,051. Equity is growing by ~18.9% per year across the filed fiscal years. Its solvency ranks better than 25% of 9557 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability38▲+3
Solvency49▼-1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €9,000 at 30 days acceptable
Liquidity short (current ratio 0.3 against 1.12 in 2024; short-term debt: 35% and cash: 0.3% of total assets), and 75.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
24.2%
Return on assets
0.3%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 9557 sector peers (2025).
NBB · sector comparisonPosition among 9557 sector peers
Solvency
better than 25%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 · 9 filingsDeviation from the deadline
2025
28 d late
2024
29 d late
2023
29 d late
2022
28 d late
2021
9 d late
2020
17 d early
2019
60 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 24 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€177,474▲ 1.2%
2024 · €175,423
Total assets
€733,895▲ 5.1%
2024 · €697,956
Net result
€2,051▲ 37.7%
2024 · €1,489
Working capital
-€179,846
2024 · €6,349
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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€19,987▼ 4.6%€130,547▲ 553%€24,576▼ 81.2%€28,590▲ 16.3%€29,480▲ 3.1%
Net result€9,869within the sector's middle half▲ 1.0%€89,158above the sector's middle half▲ 803%€2,528within the sector's middle half▼ 97.2%€1,489within the sector's middle half▼ 41.1%€2,051within the sector's middle half▲ 37.7%
Equity€82,248within the sector's middle half▲ 13.6%€171,406above the sector's middle half▲ 108%€173,934above the sector's middle half▲ 1.5%€175,423above the sector's middle half▲ 0.9%€177,474above the sector's middle half▲ 1.2%
Total assets€333,187above the sector's middle half▲ 8.9%€399,138above the sector's middle half▲ 19.8%€635,221above the sector's middle half▲ 59.1%€697,956above the sector's middle half▲ 9.9%€733,895above the sector's middle half▲ 5.1%
Debt€250,939▲ 7.5%€227,732▼ 9.2%€461,287▲ 103%€522,532▲ 13.3%€556,420▲ 6.5%
Working capital€4,407below the sector's middle half€200,987above the sector's middle half▲ 4,461%€51,157within the sector's middle half▼ 74.5%€6,349within the sector's middle half▼ 87.6%-€179,846below the sector's middle half
Solvency24.7%below the sector's middle half▲ 1.0pp42.9%within the sector's middle half▲ 18.3pp27.4%within the sector's middle half▼ 15.6pp25.1%below the sector's middle half▼ 2.2pp24.2%below the sector's middle half▼ 1.0pp
Current ratio1.11below the sector's middle half▲ 0.653.80within the sector's middle half▲ 2.691.46within the sector's middle half▼ 2.341.12below the sector's middle half▼ 0.340.30below the sector's middle half▼ 0.82
Return on assets (ROA)3.0%within the sector's middle half▼ 0.2pp22.3%above the sector's middle half▲ 19.4pp0.4%below the sector's middle half▼ 21.9pp0.2%below the sector's middle half▼ 0.2pp0.3%below the sector's middle half▲ 0.1pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 3% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €733,895
Fixed assets
€657,106 ▲ 3.1%
Current assets
€76,788 ▲ 26.8%
Equity and liabilities €733,895
Equity
€177,474 ▲ 1.2%
Debt
€556,420 ▲ 6.5%
Debt's share of the balance-sheet total rises from 74.9% to 75.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€55,879▲
2024 · €48,424
Cash flow
€28,450▲
2024 · €21,323
Debt to equity
3.14▲
2024 · 2.98
ROE
1.2%▲
2024 · 0.8%
Interest coverage
2.28▲
2024 · 1.94
Debt ≤ 1 year
€256,634▲
2024 · €54,198
Debt > 1 year
€290,293▼
2024 · €463,750
Income taxes
€3,160▼
2024 · €3,417
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,105 companies that looked in July 2024 the way this one looks now, 0.9% went bankrupt within 24 months and 98% are still going.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0.9%
went bankrupt
0.9%
stopped otherwise
98%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 4,105 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €108,317 | €0 | €108 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,690 | €13,336 | €54,208 | €19,833 | €26,399 | ▲ 33.1% |
| Other operating charges640/8 | €4,808 | €4,787 | €6,079 | €6,942 | €6,363 | ▼ 8.3% |
| Non-recurring operating charges66A | - | - | €4,882 | €0 | €4,380 | - |
| Gross operating margin9900 | €46,486 | €148,670 | €89,745 | €55,366 | €66,623 | ▲ 20.3% |
| Operating profit (loss)9901 | €19,987 | €130,547 | €24,576 | €28,590 | €29,480 | ▲ 3.1% |
| Financial income75/76B | €0 | €43 | €362 | €1,216 | €228 | ▼ 81.3% |
| Recurring financial income75 | €0 | €43 | €362 | €1,216 | €228 | ▼ 81.3% |
| Financial charges65/66B | €4,337 | €5,168 | €17,549 | €24,900 | €24,496 | ▼ 1.6% |
| Recurring financial charges65 | €4,337 | €5,168 | €17,549 | €24,900 | €24,496 | ▼ 1.6% |
| Profit (loss) for the period before taxes9903 | €15,650 | €125,421 | €7,388 | €4,906 | €5,212 | ▲ 6.2% |
| Income taxes67/77 | €5,781 | €36,262 | €4,861 | €3,417 | €3,160 | ▼ 7.5% |
| Profit (loss) for the period9904 | €9,869 | €89,158 | €2,528 | €1,489 | €2,051 | ▲ 37.7% |
| Profit (loss) for the period to be appropriated9905 | €9,869 | €89,158 | €2,528 | €1,489 | €2,051 | ▲ 37.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €333,187 | €399,138 | €635,221 | €697,956 | €733,895 | ▲ 5.1% |
| Fixed assets21/28 | €288,428 | €126,391 | €471,924 | €637,408 | €657,106 | ▲ 3.1% |
| Tangible fixed assets22/27 | €288,428 | €126,391 | €471,924 | €637,408 | €657,106 | ▲ 3.1% |
| Land and buildings22 | €274,445 | €109,539 | €461,240 | €630,786 | €644,930 | ▲ 2.2% |
| Plant, machinery and equipment23 | €908 | €690 | €2,374 | €2,498 | €5,823 | ▲ 133% |
| Furniture and vehicles24 | €13,075 | €16,163 | €8,311 | €4,124 | €6,353 | ▲ 54.0% |
| Current assets29/58 | €44,758 | €272,747 | €163,296 | €60,547 | €76,788 | ▲ 26.8% |
| Amounts receivable within one year40/41 | €30,093 | €21,615 | €73,855 | €31,798 | €34,306 | ▲ 7.9% |
| Trade receivables40 | €24,573 | €16,045 | €52,475 | €22,267 | €22,580 | ▲ 1.4% |
| Other amounts receivable41 | €5,520 | €5,570 | €21,380 | €9,531 | €11,726 | ▲ 23.0% |
| Cash at bank and in hand54/58 | €13,402 | €242,514 | €87,172 | €82 | €2,148 | ▲ 2,528% |
| Deferred charges and accrued income490/1 | €1,263 | €8,619 | €2,269 | €28,668 | €40,335 | ▲ 40.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €333,187 | €399,138 | €635,221 | €697,956 | €733,895 | ▲ 5.1% |
| Equity10/15 | €82,248 | €171,406 | €173,934 | €175,423 | €177,474 | ▲ 1.2% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €63,648 | €152,806 | €155,334 | €156,823 | €158,874 | ▲ 1.3% |
| Non-distributable reserves130/1 | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | €0 | - | - | - | - | - |
| Tax-exempt reserves132 | €581 | €581 | €581 | €581 | €581 | = |
| Distributable reserves133 | €63,067 | €152,225 | €154,753 | €156,242 | €158,293 | ▲ 1.3% |
| Amounts payable17/49 | €250,939 | €227,732 | €461,287 | €522,532 | €556,420 | ▲ 6.5% |
| Amounts payable after more than one year17 | €201,700 | €154,200 | €348,017 | €463,750 | €290,293 | ▼ 37.4% |
| Financial debts170/4 | €201,700 | €154,200 | €348,017 | €463,750 | €290,293 | ▼ 37.4% |
| Amounts payable within one year42/48 | €40,351 | €71,761 | €112,139 | €54,198 | €256,634 | ▲ 374% |
| Current portion of amounts payable after more than one year42 | €15,349 | €15,000 | €28,016 | €28,584 | €248,183 | ▲ 768% |
| Financial debts43 | - | - | - | €8,284 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €8,284 | €0 | ▼ 100% |
| Trade debts44 | €4,354 | €11,616 | €35,026 | €991 | €289 | ▼ 70.8% |
| Suppliers440/4 | €4,354 | €11,616 | €35,026 | €991 | €289 | ▼ 70.8% |
| Taxes, remuneration and social security45 | €5,182 | €29,285 | €49,096 | €16,339 | €8,162 | ▼ 50.0% |
| Taxes450/3 | €5,182 | €29,285 | €49,096 | €16,339 | €8,162 | ▼ 50.0% |
| Other amounts payable47/48 | €15,468 | €15,859 | €0 | - | - | - |
| Accrued charges and deferred income492/3 | €8,887 | €1,772 | €1,131 | €4,584 | €9,493 | ▲ 107% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,869 | €89,158 | €2,528 | €1,489 | €2,051 | ▲ 37.7% |
| + Depreciation and write-downs630 | €21,690 | €13,336 | €54,208 | €19,833 | €26,399 | ▲ 33.1% |
| Operating cash flow (approximation) | €31,559 | €102,494 | €56,736 | €21,323 | €28,450 | ▲ 33.4% |
| Investment in fixed assets (approximation) | - | €148,702 | -€399,742 | -€185,317 | -€46,097 | ▲ 75.1% |
| Change in cash | - | €229,111 | -€155,342 | -€87,090 | €2,066 | ▲ 102% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 28 days late
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 29 days late
2023
28-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 28 days late
2022
31-12
Financial
Highest result since 2018net €89,158 ▲803%
Operating result €130,547, net result €89,158, both a record.
31-12
Financial
Liquidity triplescurrent ratio 3.80
Current ratio from 1.11 to 3.80.
31-12
Financial
Equity above €150,000Eq €171,406 ▲108%
5 profitable years in a row build equity to €171,406.
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 9 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 1.11
Current ratio from 0.46 to 1.11; short-term debt falls from €54,728 to €40,351.
14-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 60 days late
2019
31-12
Financial
Weakest financial yearnet €97 ▼99.4%
Net result drops to €97, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Turnhout · 1 establishment unit since 2016
Ground area
4,217 m²
Building footprint
560 m²
Volume, LiDAR
7,372 m³
Parcel 13453O0142/00V002, Flanders · tallest building 20.8 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
BEN JANSSEN
since 20162.251.720.188
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13453O0142/00V002 | Flanders | 4,217 m² | 1 · 560 m² | 20.8 m · 5 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.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 509 EUR awarded · 629 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 149 EUR | 149 EUR |
| 2024 | 1 | 78 EUR | 78 EUR |
| 2023 | 1 | 282 EUR | 402 EUR |
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Of 1,759 companies in sector 71122 we hold annual accounts for 772. 656 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded31-03-2016
Fiscal year end31-12
Activities, NACEBEL 2025
71122Land surveying
E-invoicing
Reachable via Peppol
Peppol ID
0208:0650941561
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.