COBOSYSTEMS
ActiveSummary
COBOSYSTEMS has been active since 1989 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €427,672 and a net result of €4,450. Equity has been growing by about 6.2% per year since 2018. Its solvency ranks better than 83% of 191 sector peers (NACE 58, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 06-07-1989 Normal situation
- Registered office
- 491 active companies are registered at this address 35 started in the 12 months before. Source: KBO register, as of 2 November 2026.
- Activity
- Other software publishing NACE 58290and 1 other
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 2025
- Establishment unit
- 2.130.151.375 1050 Brussel, since 10-06-2003
- Financial year end
- 31 December
- Peppol
- Reachable since 05-02-2026
Board and ownership
- Klinkien BastiaanDirector · since 21-05-2013
- Kornet Arend JanDirector · since 21-05-2013
- Arko Uitgeverijconsolidatesannual accounts 2012
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- €123,557
- ▼ 17.8%
- Turnover
- ≈ €310,000
- estimated
- Profit
- €4,450
- ▼ 88.2%
- Equity
- €427,672
- ▲ 1.1%
- Total assets
- €554,421
- ▲ 1.6%
- Employees on 31-12-2025
- 1
- =
Score breakdownraises riskLiquidity: current ratio 3.79lowers riskFounded in 1989Size: 1 FTE, total assets €554,421Sector: Publishing activities (NACE 58)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 58, micro). It does better than 87% of them on solvency, 77% on liquidity, 34% on profitability and 49% on growth.
The bankruptcy probability was computed on 01-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 13 days before the deadline. In the sector (NACE 58), the median for financial year 2024 was 7 days before the deadline, and 37% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, full format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 37 filings
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 76% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Average staff per financial year, in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Publishing activities (NACE 58). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30. The dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 | 1 |
| part-time | 0 | 0 | 0 | 0 | 0 |
| in full-time equivalents | 1 | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €63,326 | - | - | €34,528 | €19,846 |
| Pledge on the business | €136,341 | €136,341 | €136,341 | €136,341 | €136,341 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Intangible fixed assets | - | €33,000 | - | €100,000 | - |
| Depreciation and write-downs of the year | €25,000 | €25,000 | €25,000 | €16,600 | €16,600 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Comparable companies
These companies have the same main activity as COBOSYSTEMS: other software publishing (NACE 58290). They are comparable in size and age: total assets between €284,000 and €704,000, founded between 1983 and 2005.
| Company | Founded | Total assets | Equity | Gross margin | Turnover | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|---|
| COBOSYSTEMS Elsene | 1989 | €554,421 | €427,672 | €123,557 | - | €4,450 | 1 | 2025 |
| ELECTRONIC HEALTHCARE INFORMATION MANAGEMENT SOLUTIONS Lier | 2005 | €703,983 | €184,176 | €68,944 | - | €19,672 | 0.5 | 2025 |
| Done-it International Antwerpen | 2004 | €283,871 | €58,195 | €60,633 | - | -€27,929 | 1 | 2025 |
| SYSMEDIT Sprimont | 2003 | €509,435 | €108,404 | €101,708 | - | €54,958 | 0 | 2025 |
| BVC-SOFT Temse | 1996 | €461,221 | €448,856 | €89,221 | - | €51,998 | - | 2025 |
| DEVOSOFT Wommelgem | 1996 | €477,333 | €433,227 | €77,222 | - | €51,894 | - | 2025 |
| MICRO COMPUTERS PERIPHERALS AND SYSTEMS SA Aywaille | 1983 | €648,340 | €522,934 | €67,887 | €92,959 | €15,737 | - | 2025 |
They were chosen from the 630 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Companies with the same profile, two years later
Historical observationIn July 2024, 17,041 companies had the same profile as COBOSYSTEMS has now. Two years later, 0.5% had gone bankrupt and 94.4% were still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of COBOSYSTEMS itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,445 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,041 companies, not a prediction for COBOSYSTEMS. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €77,554 | €78,642 | €85,824 | €89,490 | €96,151 | ▲ 7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €303 | €25,303 | €25,000 | €25,000 | €25,000 | €25,000 | €16,600 | €16,600 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€910 | -€124 | €0 | - | - | - |
| Other operating charges640/8 | - | - | - | €348 | €348 | €1,729 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €135,984 | €128,385 | €125,830 | €126,898 | €144,467 | €99,645 | €150,379 | €123,557 | ▼ 17.8% |
| Operating profit (loss)9901 | €63,847 | €28,181 | €40,026 | €24,907 | €40,602 | -€12,908 | €43,902 | €10,406 | ▼ 76.3% |
| Financial income75/76B | - | - | - | €5,267 | €6,042 | €6,889 | €5,656 | €5,023 | ▼ 11.2% |
| Recurring financial income75 | €3,465 | €3,548 | €4,441 | €5,267 | €6,042 | €6,889 | €5,656 | €5,023 | ▼ 11.2% |
| Financial charges65/66B | - | - | - | €6,024 | €5,005 | €6,254 | €11,371 | €10,533 | ▼ 7.4% |
| Recurring financial charges65 | €4,786 | €6,473 | €6,859 | €6,024 | €5,005 | €6,254 | €11,371 | €10,533 | ▼ 7.4% |
| Profit (loss) for the period before taxes9903 | €62,526 | €25,257 | €37,608 | €24,149 | €41,639 | -€12,273 | €38,186 | €4,896 | ▼ 87.2% |
| Income taxes67/77 | - | - | €206 | €219 | €233 | €238 | €414 | €446 | ▲ 7.6% |
| Profit (loss) for the period9904 | €62,526 | €25,257 | €37,401 | €23,930 | €41,406 | -€12,510 | €37,772 | €4,450 | ▼ 88.2% |
| Profit (loss) for the period to be appropriated9905 | €62,526 | €25,257 | €37,401 | €23,930 | €41,406 | -€12,510 | €37,772 | €4,450 | ▼ 88.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 1.6% |
| Fixed assets21/28 | €0.1m | €0.1m | €0.08m | €0.05m | €0.06m | €0.03m | €0.1m | €0.1m | ▼ 14.2% |
| Intangible fixed assets21 | €0.1m | €0.1m | €0.08m | €0.05m | €0.06m | €0.03m | €0.1m | €0.1m | ▼ 14.3% |
| Tangible fixed assets22/27 | €303 | - | - | - | - | - | - | - | - |
| Financial fixed assets28 | €477 | €477 | €477 | €477 | €477 | €477 | €477 | €477 | = |
| Current assets29/58 | €0.3m | €0.3m | €0.4m | €0.4m | €0.5m | €0.5m | €0.4m | €0.5m | ▲ 5.9% |
| Amounts receivable within one year40/41 | €0.3m | €0.3m | €0.4m | €0.4m | €0.5m | €0.5m | €0.4m | €0.5m | ▲ 5.9% |
| Trade receivables40 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 6.4% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.3m | €0.4m | €0.3m | €0.4m | ▲ 9.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €474 | €0.001m | €0.001m | ▲ 0.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 1.6% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 1.1% |
| Contributions10/11 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Capital10 | - | - | - | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Issued capital100 | - | - | - | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Reserves13 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | -€1.2m | -€1.1m | -€1.1m | -€1.1m | -€1.0m | -€1.1m | -€1.0m | -€1.0m | ▲ 0.4% |
| Amounts payable17/49 | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 3.5% |
| Amounts payable after more than one year17 | €0.08m | €0.06m | €0.06m | €0.04m | €0.01m | €0.03m | €0.02m | €0.007m | ▼ 65.9% |
| Financial debts170/4 | - | - | - | €0.04m | €0.01m | €0.03m | €0.02m | €0.007m | ▼ 65.9% |
| Amounts payable within one year42/48 | €0.08m | €0.08m | €0.08m | €0.08m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 16.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.03m | €0.02m | €0.01m | €0.01m | ▼ 10.9% |
| Financial debts43 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 1.2% |
| Credit institutions430/8 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | ▲ 1.2% |
| Trade debts44 | €0.002m | €0.003m | €0.003m | €0.002m | €0.004m | €0.006m | €0.004m | €0.003m | ▼ 37.9% |
| Suppliers440/4 | - | - | - | €0.002m | €0.004m | €0.006m | €0.004m | €0.003m | ▼ 37.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.04m | €0.04m | €0.05m | €0.07m | ▲ 37.3% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.02m | €0.03m | €0.04m | ▲ 38.5% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.02m | €0.02m | €0.02m | €0.03m | ▲ 35.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €62,526 | €25,257 | €37,401 | €23,930 | €41,406 | -€12,510 | €37,772 | €4,450 | ▼ 88.2% |
| + Depreciation and write-downs630 | €303 | €25,303 | €25,000 | €25,000 | €25,000 | €25,000 | €16,600 | €16,600 | = |
| Operating cash flow (approximation) | €62,828 | €50,560 | €62,401 | €48,930 | €66,406 | €12,490 | €54,372 | €21,050 | ▼ 61.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€33,000 | €0 | -€100,000 | €0 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-07-2026 | 2026-00369133 | NBB |
| 31-12-2024 | abbreviated format | 25-07-2025 | 2025-00318495 | |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00325401 | |
| 31-12-2022 | abbreviated format | 27-07-2023 | 2023-00288356 | |
| 31-12-2021 | abbreviated format | 05-07-2022 | 2022-20150743 | |
| 31-12-2020 | abbreviated format | 06-07-2021 | 2021-30800571 | |
| 31-12-2019 | abbreviated format | 29-06-2020 | 2020-21500238 | |
| 31-12-2018 | abbreviated format | 28-06-2019 | 2019-24000265 | |
| 31-12-2017 | abbreviated format | 29-06-2018 | 2018-24700308 | |
| 31-12-2016 | abbreviated format | 10-07-2017 | 2017-28600397 |
Board & ownership
Directors
Owners and capital
Shareholders
1 ownerChain of control
- Arko UitgeverijNL
- COBOSYSTEMS
Owners 1
- Arko UitgeverijNLconsolidating parentconsolidates
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Klinkien Bastiaan |
|
| Kornet Arend Jan |
|
Network & group
Companies at the same address
490 other companies- MAYS ISSA Registered office · since 2026 1044605767
- POINT OR Registered office · since 2026 1044380291
- CENTURION GROUP Registered office · since 2026 1043911822
- AC INTEGRATOR Registered office · since 2026 1042611626
- STOKE COFFEE Registered office · since 2026 1042498986
- ALL-D Registered office · since 2026 1041159495
- WHEEB GLOBAL Registered office · since 2026 1041139008
- MBS Registered office · since 2026 1040677663
- DENARIA EUROPE Registered office · since 2026 1040330443
- Ukraine Facility Platform Registered office · since 2026 1040020637
Connections & network
2 current directorsThe network starts from the directors of COBOSYSTEMS. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Codes under NACEBEL 2003
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21807G0211/00W012 | Brussels | 266 m² | 1 · 265 m² | 34.0 m · 5 |