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COBREW

Active
Public limited companyfounded 198640 yrs activeBrouwerijplein 1, 3000 Leuven, BelgiumKBO/BCE: BE 0428.975.372
Summary

COBREW has been active since 1986 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €199.6m and a net result of €3.3m. Equity is shrinking by ~14.5% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2026. Its solvency ranks better than 9% of 3241 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

Checked score

Score 2025
Axes · tick = 2024
Profitability38=
Solvency27▼-1
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity tight (current ratio 1.02 against 1.03 in 2024; short-term debt: 98.3% and cash: 24.2% of total assets), and 98.3% of the assets are financed with debt.
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Signals

Seven 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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 40 years 0 50 y
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
1.7%
Return on assets
0%
Age of the figures
9 mo
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 3241 sector peers (2025).
NBB · sector comparison
Position among 3241 sector peers
Solvency
better than 9%
← weakest strongest →
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 21-04-2026, 101 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
101 d early
2024
86 d early
2023
76 d early
2022
80 d early
2021
13 d early
2020
74 d early
2019
84 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 49 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% 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 12 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Position in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

COBREW was incorporated on 21 May 1986.1 The registered office was moved to Leuven in 2005.2 Between 2006 and 2013 the capital was increased 6 times, most recently to EUR 12 billion.345 The board currently has 4 members; Noah Faase has served longest, since 2021.6 Total assets fell from EUR 15 billion in 2018 to EUR 12 billion in 2025 and headcount from 7.8 to 6.7 full-time equivalents.7

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 25-04-2005
  3. 3Belgian State Gazette, 09-06-2006
  4. 4Belgian State Gazette, 13-01-2012
  5. 5Belgian State Gazette, 15-10-2013
  6. 6Belgian State Gazette, 03-11-2023
  7. 7National Bank, annual accounts 2018 and 2025

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Financials · fiscal year 2025, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€3.3m▼ 77.2%
2024 · €14.5m
Working capital
€201.1m▼ 4.2%
2024 · €209.8m
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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€7.4m▼ 74.2%€4.3m▼ 42.1%€224,940▼ 94.7%€5.0m▲ 2,130%€4.9m▼ 1.8%
Net result-€1.8mbelow the sector's middle half€1.9mabove the sector's middle half€31.4mabove the sector's middle half▲ 1,581%€14.5mabove the sector's middle half▼ 53.9%€3.3mabove the sector's middle half▼ 77.2%
Equity€1.52bnabove the sector's middle half▼ 0.1%€1.52bnabove the sector's middle half▲ 0.1%€419.6mabove the sector's middle half▼ 72.4%€199.6mabove the sector's middle half▼ 52.4%€199.6mabove the sector's middle half=
Total assets€12.57bnabove the sector's middle half▼ 37.7%€13.90bnabove the sector's middle half▲ 10.6%€15.78bnabove the sector's middle half▲ 13.5%€7.53bnabove the sector's middle half▼ 52.2%€11.93bnabove the sector's middle half▲ 58.3%
Debt€11.05bn▼ 40.8%€12.38bn▲ 12.1%€15.36bn▲ 24.0%€7.33bn▼ 52.2%€11.73bn▲ 59.9%
Working capital€1.52bnabove the sector's middle half▼ 0.2%€1.52bnabove the sector's middle half▲ 0.2%€428.3mabove the sector's middle half▼ 71.9%€209.8mabove the sector's middle half▼ 51.0%€201.1mabove the sector's middle half▼ 4.2%
Solvency12.1%below the sector's middle half▲ 4.6pp10.9%below the sector's middle half▼ 1.1pp2.7%below the sector's middle half▼ 8.3pp2.6%below the sector's middle half=1.7%below the sector's middle half▼ 1.0pp
Current ratio1.14within the sector's middle half▲ 0.061.12within the sector's middle half▼ 0.011.03within the sector's middle half▼ 0.101.03within the sector's middle half=1.02within the sector's middle half▼ 0.01
Return on assets (ROA)0.0%below the sector's middle half▼ 0.1pp0.0%below the sector's middle half=0.2%within the sector's middle half▲ 0.2pp0.2%within the sector's middle half=0.0%within the sector's middle half▼ 0.2pp
Staff (FTE)9.6within the sector's middle half▲ 11.6%9.6within the sector's middle half=9.3within the sector's middle half▼ 3.1%6.7within the sector's middle half▼ 28.0%6.7within the sector's middle half=
above within below the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
  • 2024 Equity -52% on 2023. Capital reduction of €200,000,000 (Official Gazette 27-12-2024).
  • 2023 Equity -72% on 2022. Capital reduction of €995,162,560 (Official Gazette 03-11-2023).
Result per fiscal year
Operating resultNet result
-€10.0m€0€10.0m€20.0m€30.0mOperating result 2021: €7.4m€7.4mNet result 2021: -€1.8m-€1.8mOperating result 2022: €4.3m€4.3mNet result 2022: €1.9m€1.9mOperating result 2023: €224,940€224,940Net result 2023: €31.4m€31.4mOperating result 2024: €5.0m€5.0mNet result 2024: €14.5m€14.5mOperating result 2025: €4.9m€4.9mNet result 2025: €3.3m€3.3m20212022202320242025€0€10m€20m€30mOperating result 2023: €224,940€225,000Net result 2023: €31.4m€31mOperating result 2024: €5.0m€5mNet result 2024: €14.5m€14mOperating result 2025: €4.9m€4.9mNet result 2025: €3.3m€3.3m202320242025
The operating result falls in 2025; 2025 is 2% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €11.93bn
Equity €199.6m =
Debt €11.73bn ▲ 59.9%
Debt's share of the balance-sheet total rises from 97.4% to 98.3%. Debt is higher.
Key figures and ratios
2025 value · change against 2024
Debt to equity
58.75▲
2024 · 36.74
ROE
1.7%▼
2024 · 7.3%
Debt ≤ 1 year
€11.72bn▲
2024 · €7.32bn
Income taxes
€2.2m▼
2024 · €2.3m
Staff costs
€1.5m▼
2024 · €2.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 1,082 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.

  • Micro
  • 20 years or older
  • solvency under 10%
  • a profit under 5% of the balance sheet
0.8% went bankrupt
2.2% stopped otherwise
97% 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 0.1% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 1,082 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet Code20242025
Assets
Total assets20/58€7.53bn€11.93bn▲
Current assets29/58€7.53bn€11.93bn▲
Amounts receivable within one year40/41€4.01bn€6.16bn▲
Trade receivables40€6.9m€4.0m▼
Other amounts receivable41€4.00bn€6.16bn▲
Current investments50/53€1.01bn€2.87bn▲
Other investments51/53€1.01bn€2.87bn▲
Cash at bank and in hand54/58€2.50bn€2.89bn▲
Deferred charges and accrued income490/1€14.9m€12.0m▼
Equity and liabilities
Total equity and liabilities10/49€7.53bn€11.93bn▲
Equity10/15€199.6m€199.6m=
Contributions10/11€181.5m€181.5m=
Capital10€181.5m€181.5m=
Issued capital100€181.5m€181.5m=
Reserves13€18.1m€18.1m=
Non-distributable reserves130/1€18.1m€18.1m=
Legal reserve130€18.1m€18.1m=
Amounts payable17/49€7.33bn€11.73bn▲
Amounts payable within one year42/48€7.32bn€11.72bn▲
Financial debts43€647.4m€801.1m▲
Credit institutions430/8€647.4m€801.1m▲
Trade debts44€111,344€196,802▲
Suppliers440/4€111,344€196,802▲
Taxes, remuneration and social security45€4.7m€1.0m▼
Taxes450/3€3.0m€348,436▼
Remuneration and social security454/9€1.7m€680,302▼
Other amounts payable47/48€6.67bn€10.92bn▲
Accrued charges and deferred income492/3€10.2m€1.5m▼
Income statement Code20242025
Operating income70/76A€7.3m€6.8m▼
Other operating income74€7.3m€6.8m▼
Operating charges60/66A€2.3m€1.8m▼
Services and other goods61€203,502€304,763▲
Remuneration, social security and pensions62€2.1m€1.5m▼
Operating profit (loss)9901€5.0m€4.9m▼
Financial income75/76B€1.16bn€687.5m▼
Recurring financial income75€1.16bn€687.5m▼
Income from current assets751€1.16bn€686.4m▼
Other financial income752/9€285,861€1.1m▲
Financial charges65/66B€1.15bn€686.9m▼
Recurring financial charges65€1.15bn€686.9m▼
Debt charges650€1.15bn€684.8m▼
Other financial charges652/9€480,387€2.1m▲
Profit (loss) for the period before taxes9903€16.8m€5.5m▼
Income taxes67/77€2.3m€2.2m▼
Taxes670/3€2.3m€2.2m▼
Profit (loss) for the period9904€14.5m€3.3m▼
Profit (loss) for the period to be appropriated9905€14.5m€3.3m▼
Appropriation of the result
Profit (loss) to be appropriated9906€14.5m€3.3m▼
Transfer from equity791/2€20.0m-
From reserves792€20.0m-
Profit to be distributed694/7€34.5m€3.3m▼
Return on contributions (dividend)694€34.5m€3.3m▼
Social balance
Average headcount (FTE)90876.76.7=

The notes to these accounts (24 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20212022202320242025Change
Operating income70/76A€9.1m€7.6m€2.6m€7.3m€6.8m▼ 7.8%
Other operating income74€9.1m€7.6m€2.6m€7.3m€6.8m▼ 7.8%
Operating charges60/66A€1.7m€3.3m€2.4m€2.3m€1.8m▼ 21.0%
Services and other goods61€385,000€302,421€275,294€203,502€304,763▲ 49.8%
Remuneration, social security and pensions62€1.4m€3.0m€2.1m€2.1m€1.5m▼ 27.8%
Operating profit (loss)9901€7.4m€4.3m€224,940€5.0m€4.9m▼ 1.8%
Financial income75/76B€107.9m€404.9m€1.04bn€1.16bn€687.5m▼ 40.7%
Recurring financial income75€107.9m€404.9m€1.04bn€1.16bn€687.5m▼ 40.7%
Income from current assets751€107.9m€402.9m€1.04bn€1.16bn€686.4m▼ 40.7%
Other financial income752/9-€2.0m€610,840€285,861€1.1m▲ 302%
Financial charges65/66B€117.1m€406.7m€988.4m€1.15bn€686.9m▼ 40.1%
Recurring financial charges65€117.1m€406.7m€988.4m€1.15bn€686.9m▼ 40.1%
Debt charges650€115.8m€406.2m€987.9m€1.15bn€684.8m▼ 40.3%
Other financial charges652/9€1.3m€502,865€468,424€480,387€2.1m▲ 338%
Profit (loss) for the period before taxes9903-€1.8m€2.5m€52.7m€16.8m€5.5m▼ 67.0%
Income taxes67/77-€666,244€21.3m€2.3m€2.2m▼ 3.9%
Taxes670/3-€666,244€21.3m€2.3m€2.2m▼ 3.9%
Profit (loss) for the period9904-€1.8m€1.9m€31.4m€14.5m€3.3m▼ 77.2%
Profit (loss) for the period to be appropriated9905-€1.8m€1.9m€31.4m€14.5m€3.3m▼ 77.2%
Line20212022202320242025Change
Assets
Total assets20/58€12.57bn€13.90bn€15.78bn€7.53bn€11.93bn▲ 58.3%
Current assets29/58€12.57bn€13.90bn€15.78bn€7.53bn€11.93bn▲ 58.3%
Amounts receivable within one year40/41€5.36bn€3.86bn€10.09bn€4.01bn€6.16bn▲ 53.7%
Trade receivables40€14.2m€7.5m€1.4m€6.9m€4.0m▼ 42.6%
Other amounts receivable41€5.35bn€3.85bn€10.08bn€4.00bn€6.16bn▲ 53.9%
Current investments50/53€2.91bn€1.97bn€1.22bn€1.01bn€2.87bn▲ 184%
Other investments51/53€2.91bn€1.97bn€1.22bn€1.01bn€2.87bn▲ 184%
Cash at bank and in hand54/58€4.29bn€8.02bn€4.44bn€2.50bn€2.89bn▲ 15.5%
Deferred charges and accrued income490/1€2.6m€48.6m€25.1m€14.9m€12.0m▼ 19.1%
Equity and liabilities
Total equity and liabilities10/49€12.57bn€13.90bn€15.78bn€7.53bn€11.93bn▲ 58.3%
Equity10/15€1.52bn€1.52bn€419.6m€199.6m€199.6m=
Contributions10/11€1.38bn€1.38bn€381.5m€181.5m€181.5m=
Capital10€1.38bn€1.38bn€381.5m€181.5m€181.5m=
Issued capital100€1.38bn€1.38bn€381.5m€181.5m€181.5m=
Reserves13€137.7m€137.7m€38.1m€18.1m€18.1m=
Non-distributable reserves130/1€137.7m€137.7m€38.1m€18.1m€18.1m=
Legal reserve130€137.7m€137.7m€38.1m€18.1m€18.1m=
Profit (loss) carried forward14€4.8m€6.7m----
Amounts payable17/49€11.05bn€12.38bn€15.36bn€7.33bn€11.73bn▲ 59.9%
Amounts payable within one year42/48€11.05bn€12.38bn€15.35bn€7.32bn€11.72bn▲ 60.1%
Financial debts43€316.3m€115.9m€508.5m€647.4m€801.1m▲ 23.7%
Credit institutions430/8€316.3m€115.9m€508.5m€647.4m€801.1m▲ 23.7%
Trade debts44€567,243€296,655€248,178€111,344€196,802▲ 76.8%
Suppliers440/4€567,243€296,655€248,178€111,344€196,802▲ 76.8%
Taxes, remuneration and social security45€1.5m€1.9m€7.7m€4.7m€1.0m▼ 78.1%
Taxes450/3€344,593€46,089€6.1m€3.0m€348,436▼ 88.5%
Remuneration and social security454/9€1.2m€1.9m€1.6m€1.7m€680,302▼ 59.5%
Other amounts payable47/48€10.73bn€12.26bn€14.83bn€6.67bn€10.92bn▲ 63.7%
Accrued charges and deferred income492/3€55,033€903,925€8.7m€10.2m€1.5m▼ 85.2%
Line20212022202320242025Change
Profit (loss) for the period9904-€1.8m€1.9m€31.4m€14.5m€3.3m▼ 77.2%
Operating cash flow (approximation)-€1.8m€1.9m€31.4m€14.5m€3.3m▼ 77.2%
Change in cash-€3.74bn-€3.58bn-€1.94bn€387.2m▲ 120%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-07-2027
2026
21-04
NBB filing Annual accounts filed
fiscal year 2025 · full schema
27-02
State Gazette act Appointments: Yulia Lyubavina (director) and PwC Bedrijfsrevisoren BV (statutory auditor)
Permanent representative: Peter D'hondt · Mandate compensation5 facts ▸
  • General meeting, 11-04-2025
  • Director appointment, Yulia Lyubavina (director)
  • Mandate compensation, Yulia Lyubavina
  • Auditor appointment, PwC Bedrijfsrevisoren BV (statutory auditor)
  • Permanent representative, Peter D'hondt
2025
06-05
NBB filing Annual accounts filed
fiscal year 2024 · full schema
2024
27-12
State Gazette act Permanent representative: Peter D'Hondt
Capital decrease · Capital · Reserve release5 facts ▸
  • General meeting, 16-12-2024
  • Capital decrease, €200.000.000
  • Capital, €181.451.532,39
  • Reserve release, beschikbare reserves
  • Permanent representative, Peter D'Hondt (permanent representative)
16-05
NBB filing Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial Highest result since 2018net €31.4m ▲1,581%
Net result €31.4m, the highest in the series.
20-12
State Gazette act Miscellaneous
Reserve release1 fact ▸
  • Reserve release, Correction of material error in previous act regarding reduction of legal reserve, 99.516.255,76
03-11
State Gazette act Reappointments: Ann Randon, Noah Faase and Jan Vandermeersch
Capital decrease · Capital · Reserve release11 facts ▸
  • General meeting, 27-10-2023
  • Capital decrease, €995.162.560,36
  • Capital, €381.451.532,39
  • Reserve release, 343.306.379,15 EUR, Beschikbare reserves
  • Purpose change, De vennootschap heeft tot voorwerp: De ontwikkeling en de centralisering, uitsluitend ten voordele van de vennootschappen die deel uitmaken van de groep waartoe…
  • Director reappointment, Ann Randon (director)
  • Director reappointment, Noah Faase (director)
  • Director reappointment, Jan Vandermeersch (director)
  • Mandate compensation, Ann Randon
  • Mandate compensation, Noah Faase
  • Mandate compensation, Jan Vandermeersch
12-05
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial Back to profitnet €1.9m
Net result €1.9m after one loss-making year.
14-11
State Gazette act Appointment: PwC Bedrijfsrevisoren BV (statutory auditor)
2 facts ▸
  • General meeting, 13/05/2022
  • Auditor appointment, PwC Bedrijfsrevisoren BV (statutory auditor)
18-07
NBB filing Annual accounts filed
fiscal year 2021 · full schema
Show earlier events
14-04
State Gazette act Resignation: Patricia Espinelli (director)
Appointment: Yulia Lyubavina (director) · Mandate compensation4 facts ▸
  • General meeting, 14/02/2022
  • Director resignation, Patricia Espinelli (director)
  • Director appointment, Yulia Lyubavina (director)
  • Mandate compensation, COBREW
2021
07-07
State Gazette act Resignation: Guillaume Delle Vigne (director)
Appointment: Noah Faase (director) · Mandate compensation4 facts ▸
  • General meeting, 25/01/2021
  • Director resignation, Guillaume Delle Vigne (director)
  • Director appointment, Noah Faase (director)
  • Mandate compensation, COBREW
18-05
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial Back to profitnet €17.3m
Net result €17.3m after 2 loss-making years.
16-12
State Gazette act Resignations: Ann Randon, Jan Vandermeersch and Vinicius Cardoso
Reappointments: Ann Randon (director) and Jan Vandermeersch (director) · Appointment: Patricia Espinelli (director) · Mandate compensation8 facts ▸
  • General meeting, 24/09/2020
  • Director resignation, Ann Randon (director)
  • Director resignation, Jan Vandermeersch (director)
  • Director resignation, Vinicius Cardoso (director)
  • Director reappointment, Ann Randon (director)
  • Director reappointment, Jan Vandermeersch (director)
  • Director appointment, Patricia Espinelli (director)
  • Mandate compensation
23-10
NBB filing Annual accounts filed
fiscal year 2019 · full schema · 84 days late
2019
31-12
Financial Weakest financial yearnet -€11.3m
Net result drops to -€11.3m, the lowest in the series; recovery starts the following year.
24-06
State Gazette act Resignation: Deloitte Bedrijfsrevisoren (statutory auditor)
Appointment: PwC Bedrijfsrevisoren cvba (statutory auditor)3 facts ▸
  • General meeting, 21/05/2019
  • Auditor resignation, Deloitte Bedrijfsrevisoren
  • Auditor appointment, PwC Bedrijfsrevisoren cvba (statutory auditor)
13-06
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
30-08
State Gazette act Resignations: Benoit Loore (director) and Octavio Chino (director)
Appointments: Vinicius Cardoso (director) and Guillaume Delle Vigne (director) · Mandate compensation6 facts ▸
  • General meeting, 01/08/2018
  • Director resignation, Benoit Loore (director)
  • Director resignation, Octavio Chino (director)
  • Director appointment, Vinicius Cardoso (director)
  • Director appointment, Guillaume Delle Vigne (director)
  • Mandate compensation, COBREW
09-08
NBB filing Annual accounts filed
fiscal year 2017 · full schema · 9 days late
2017
20-10
State Gazette act Capital & shares · Statutes amendment
Capital decrease · Capital · Reserve release6 facts ▸
  • General meeting, 13/09/2017
  • Capital decrease, €10.938.655.265,26
  • Capital, €1.376.614.092,75
  • Reserve release, uitgiftepremies, 0,00
  • Reserve release, wettelijke reserve, 137.661.409,28
  • Statutes amendment
06-09
State Gazette act Resignations: Benoit Loore (director) and Frederik Rogge (director)
Appointments: Benoit Loore (director) and Jan Vandermeersch (director) · Mandate compensation6 facts ▸
  • General meeting, 25/07/2017
  • Director resignation, Benoit Loore (director)
  • Director resignation, Frederik Rogge (director)
  • Director appointment, Benoit Loore (director)
  • Director appointment, Jan Vandermeersch (director)
  • Mandate compensation, Cobrew
09-08
NBB filing Annual accounts filed
fiscal year 2016 · full schema · 9 days late
2016
26-07
State Gazette act Reappointments: Ann Randon (director) and Octavio Chino (director)
Appointment: Deloitte Bedrijfsrevisoren (statutory auditor) · Permanent representative: Joël Brehmen · Mandate compensation6 facts ▸
  • General meeting, 30/06/2016
  • Director reappointment, Ann Randon (director)
  • Director reappointment, Octavio Chino (director)
  • Mandate compensation, Cobrew
  • Auditor appointment, Deloitte Bedrijfsrevisoren (statutory auditor)
  • Permanent representative, Joël Brehmen
2015
12-11
State Gazette act Capital & shares
Power of attorney8 facts ▸
  • General meeting, 22 oktober 2015
  • Power of attorney, Wim Aerts
  • Power of attorney, Alexander Tanguy
  • Power of attorney, Alexander Verstraete
  • Power of attorney, Garance Dekeyser
  • Power of attorney, Brice Hillen
  • Power of attorney, Sara Eggermont
  • Power of attorney, Valérie Pauwels
25-08
State Gazette act Capital & shares
General meeting1 fact ▸
  • General meeting, 30 juli 2015
2014
19-05
State Gazette act Appointments: Benoit Loore (director) and Frederik Rogge (director)
Mandate compensation4 facts ▸
  • General meeting, 11/04/2014
  • Director appointment, Benoit Loore (director)
  • Director appointment, Frederik Rogge (director)
  • Mandate compensation, Cobrew NV
13-02
State Gazette act Resignation: Jean-Louis Van de Perre (director)
Director discharge3 facts ▸
  • Board meeting, 06/01/2014
  • Director resignation, Jean-Louis Van de Perre (director)
  • Director discharge, Jean-Louis Van de Perre
2013
15-10
State Gazette act Capital & shares · Statutes amendment
Capital increase · Capital4 facts ▸
  • General meeting, 30/09/2013
  • Capital increase, €1.805.516.358,26
  • Capital, €12.315.269.358,01
  • Statutes amendment, 5
10-05
State Gazette act Resignation: Gert Boulangé (director)
Appointment: Octavio Grisolia Chino (director) · Reappointment: Ann Randon (director) · Mandate compensation5 facts ▸
  • General meeting, 12/04/2013
  • Director resignation, Gert Boulangé (director)
  • Director appointment, Octavio Grisolia Chino (director)
  • Director reappointment, Ann Randon (director)
  • Mandate compensation
10-05
State Gazette act Appointment: Pricewaterhouse Coopers (statutory auditor)
Permanent representative: Yves Vandenplas3 facts ▸
  • General meeting, 12/04/2013
  • Auditor appointment, Pricewaterhouse Coopers (statutory auditor)
  • Permanent representative, Yves Vandenplas
2012
06-06
State Gazette act Capital & shares
General meeting1 fact ▸
  • General meeting, 14/05/2012
04-05
State Gazette act Resignation: Jo Van Biesbroeck (director)
Reappointment: Jo Van Biesbroeck (director) · Mandate compensation4 facts ▸
  • General meeting, 13/04/2012
  • Director resignation, Jo Van Biesbroeck (director)
  • Director reappointment, Jo Van Biesbroeck (director)
  • Mandate compensation, Cobrew
13-01
State Gazette act Capital & shares · Statutes amendment
Capital increase · Capital decrease · Capital6 facts ▸
  • General meeting, 16/12/2011
  • Capital increase, €2.534.074.274,75
  • Capital decrease, €572.000.000
  • Capital, €10.509.752.999,75
  • Statutes amendment
  • Power of attorney, EDITECO
2011
27-05
State Gazette act Capital & shares
General meeting1 fact ▸
  • General meeting, 10/05/2011
22-04
State Gazette act Resignations: Jean-Louis Van de Perre (director) and Gert Boulangé (director)
Reappointments: Jean-Louis Van de Perre (director) and Gert Boulangé (director) · Mandate compensation6 facts ▸
  • General meeting, 08/04/2011
  • Director resignation, Jean-Louis Van de Perre (director)
  • Director resignation, Gert Boulangé (director)
  • Director reappointment, Jean-Louis Van de Perre (director)
  • Director reappointment, Gert Boulangé (director)
  • Mandate compensation, Cobrew
12-01
State Gazette act Capital & shares · Statutes amendment
Capital increase · Share issue · Capital8 facts ▸
  • General meeting, 08/12/2010
  • Capital increase, €1.049.053.039,87
  • Share issue, A, 423177
  • Capital, €8.547.678.725
  • Statutes amendment
  • Power of attorney, Benoît LOORE
  • Power of attorney, Benoît LOORE
  • Power of attorney, Benoît LOORE
2010
23-12
State Gazette act Miscellaneous
Approval2 facts ▸
  • General meeting, 09/12/2010
  • Approval, schriftelijke beslissing van de aandeelhouders dd 9 december 2010
14-10
State Gazette act Capital & shares
General meeting1 fact ▸
  • General meeting, 29/09/2010
25-05
State Gazette act Appointment: PricewaterhouseCoopers Bedrijfsrevisoren (statutory auditor)
Capital increase · Capital · Statutes amendment6 facts ▸
  • General meeting, 06/05/2010
  • Capital increase, €4.098.713.344,43
  • Capital, €7.498.625.685,13
  • Statutes amendment
  • Power of attorney, EDITECO
  • Auditor appointment, PricewaterhouseCoopers Bedrijfsrevisoren
03-05
State Gazette act Resignation: Peter Suy (director)
Appointment: Ann Randon (director) · Mandate compensation4 facts ▸
  • General meeting, 09/04/2010
  • Director resignation, Peter Suy (director)
  • Director appointment, Ann Randon (director)
  • Mandate compensation, Cobrew
03-05
State Gazette act Appointments: Pricewaterhouse Coopers (statutory auditor) and KPMG (statutory auditor)
3 facts ▸
  • General meeting, 09/04/2010
  • Auditor appointment, Pricewaterhouse Coopers (statutory auditor)
  • Auditor appointment, KPMG (statutory auditor)
12-04
State Gazette act Resignations & appointments
General meeting1 fact ▸
  • General meeting, 26/03/2010
04-03
State Gazette act Capital & shares
General meeting1 fact ▸
  • General meeting, 18/02/2010
2007
30-04
State Gazette act Appointment: KPMG (statutory auditor)
Resignation: KPMG (statutory auditor) · Auditor representative4 facts ▸
  • General meeting, 13/04/2007
  • Auditor appointment, KPMG (statutory auditor)
  • Auditor representative, Jos Briers
  • Auditor resignation, KPMG (statutory auditor)
2006
14-07
State Gazette act Capital & shares · Statutes amendment
Capital increase · Bank account · Capital7 facts ▸
  • General meeting, 13/06/2006
  • Capital increase, €330.982.349,85
  • Bank account, Fortis Bank, 001-4905804-08
  • Capital, €3.399.912.340,7
  • Statutes amendment
  • Power of attorney, EDITECO
  • Power of attorney, Benoit Loore
09-06
State Gazette act Capital & shares · Statutes amendment
Capital increase · Capital · Bank account5 facts ▸
  • General meeting, 19/05/2006
  • Capital increase, €73.551.633,3
  • Capital, €3.068.929.990,85
  • Bank account, Fortis Bank, 001-4890356-80
  • Statutes amendment
2005
28-11
State Gazette act Miscellaneous
Statutes amendment2 facts ▸
  • General meeting, 15/11/2005
  • Statutes amendment
25-04
State Gazette act Registered office · Capital & shares · Statutes amendment
Registered-office move · Power of attorney4 facts ▸
  • General meeting, 15/12/2004
  • Registered-office move, 3000 Leuven, Brouwerijplein, 1
  • Statutes amendment
  • Power of attorney, EDITECO
10-01
State Gazette act Algemene Vergadering
General meeting1 fact ▸
  • General meeting, 28/12/2004
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.An act published in both Dutch and French appears here once.
40 of 41 acts read
About the unread acts

Of the 41 Belgian State Gazette acts we know for this company, 40 have been read. The other one has not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

Directors · office · real estate

Directors
4 directors, last change in 2025
Noah Faase
Director · since 25-01-2021
Current
Yulia Lyubavina
Director · since 01-02-2022
Current
Ann Randon
Director · since 19-04-2023
Current
Jan Vandermeersch
Director · since 19-04-2023
Current
2 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
Octavio Grisolia Chino
Director · since 12-04-2013
Not recently confirmed
Not recently confirmed
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ. See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
1 of this company's 41 Belgian State Gazette acts has not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Leuven · 4 establishment units since 1986
seat establishment approximate All 4 establishment units on the map
Ground area
15.4 ha
Building footprint
8.2 ha
Volume, LiDAR
127,059 m³
4 parcels, Flanders · tallest building 38.6 m, ±9 floors. Linked by address, not a title deed.
9 companies at this address See who is registered here
4 establishment units
COBREW
Vaartstraat 98, 3000 LeuvenNACE 74131
since 19862.036.859.151
COBREW
Vuurkruisenlaan 1, 3000 LeuvenNACE 74131
since 20042.147.119.744
COBREW
Vaartkom 31, 3000 LeuvenNACE 74131
since 20042.147.119.843
COBREW
Brouwerijplein 1, 3000 LeuvenNACE 74131
since 20042.147.119.942
4 parcels
Flanders 4 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
24126D0445/00L000 Flanders 13.9 ha 1 · 7.6 ha -
24062A1065/00K004 Flanders 6,510 m² 1 · 2,380 m² 7.0 m · 2 fl.
24062A0115/00F003 Flanders 5,142 m² 1 · 1,882 m² 29.2 m · 8 fl.
24062A0074/00M000 Flanders 3,169 m² 1 · 2,452 m² 38.6 m · 9 fl.
Linked by address, not proof of ownership
Good to know
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Mandate history

18 people since 2007, 6 in office
Show
  • Board
  • Statutory auditor
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Ann Randon
  • Director, from 09-04-2010 to date
Jan Vandermeersch
  • Director, from 06-09-2017 to date
Noah Faase
  • Director, from 25-01-2021 to date
Yulia Lyubavina
  • Director, from 01-02-2022 to date
Jo Van Biesbroeck
  • Director, already before 04-05-2012 not ended, last confirmed 04-05-2012
Octavio Grisolia Chino
  • Director, from 12-04-2013 not ended, last confirmed 10-05-2013
Patricia Espinelli
  • Director, from 16-12-2020 to 31-01-2022
Guillaume Delle Vigne
  • Director, from 01-08-2018 to 31-12-2020
Vinicius Cardoso
  • Director, from 01-08-2018 to 16-12-2020
Benoit Loore
  • Director, from 11-04-2014 to 30-08-2018
Octavio Chino
  • Director, already before 26-07-2016 to 30-08-2018
Frederik Rogge
  • Director, from 11-04-2014 to 06-09-2017
Deloitte Bedrijfsrevisoren
  • Statutory auditor, from 26-07-2016 to 26-07-2016
PricewaterhouseCoopers Reviseurs d'Entreprises
  • Statutory auditor, from 03-05-2010 to 26-07-2016
Jean-Louis Van de Perre
  • Director, already before 08-04-2011 to 01-01-2014
Gert Boulangé
  • Director, already before 08-04-2011 to 12-04-2013
KPMG
  • Statutory auditor, from 30-04-2007 to 03-05-2010
Peter Suy
  • Director, until 09-04-2010
See the board, name and seat on a given date →

Articles of association

Purpose
De vennootschap heeft tot voorwerp: De ontwikkeling en de centralisering, uitsluitend ten voordele van de vennootschappen die deel uitmaken van de groep waartoe zij behoort van de…
Full purpose

De vennootschap heeft tot voorwerp: De ontwikkeling en de centralisering, uitsluitend ten voordele van de vennootschappen die deel uitmaken van de groep waartoe zij behoort van de volgende activiteiten: de publiciteit, de informatieverlening en –verzameling, de verzekering en herverzekering, het wetenschappelijk onderzoek, de betrekkingen met de nationale en internationale autoriteiten, de centralisering van de werkzaamheden op het gebied van de boekhouding, administratie, informatica en algemene diensten, de centralisering van de financiële handelingen en van het dekken van risico’s voortspruitende uit de schommelingen van de wisselkoersen, het beheer van de thesaurie, de facturatie, de herfacturatie en de factoring, de financieringshuur, zowel roerend als onroerend, de marktonderzoeken, de juridische adviezen en beheer, de fiscale adviezen, de auditing, alsmede alle werkzaamheden die een voorbereidend of hulpverlenend karakter hebben voor de vennootschappen van de groep waartoe de vennootschap behoort. In het kader van haar voorwerp mag de vennootschap alle goederen, zowel roerend als onroerend, verwerven, vervaardigen, huren en verhuren en in het algemeen alle burgerlijke, commerciële, industriële en financiële verrichtingen doen, met inbegrip van de uitbating van alle intellectuele rechten en van alle industriële en commerciële eigendom die er betrekking mede hebben.

Structure & network

Owners and holdings

1 owner

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts 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

5 connected companies
Linked via shared directors
former→
PENSIOENFONDS INBEV - KADERLEDEN
via Ann Randon · Lid van het investeringscomité
former→
FONDS VERHELST
Shared director
→
→
Show 1 more companies with a shared director
JoVB
Shared director
→

Capital and shareholders

Shareholders according to the acts
After the capital increase act of 15-10-2013 ↗
  • Anheuser-Busch InBev 424,238 shares
  • Inbev Belgium 343,728 shares
After the capital increase act of 25-05-2010 ↗

The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.

Capital over the years
  1. 27-12-2024 Capital reduction of 200,000,000 EUR · to 181,451,532.39 EUR · “zonder vernietiging van aandelen”
  2. 03-11-2023 Capital reduction of 995,162,560.36 EUR · to 381,451,532.39 EUR
  3. 20-10-2017 Capital reduction of 10,938,655,265.26 EUR · to 1,376,614,092.75 EUR · repaid to the shareholders
  4. 15-10-2013 Capital increase of 1,805,516,358.26 EUR · to 12,315,269,358.01 EUR · 767,966 new shares
  5. 13-01-2012 Capital increase of 2,534,074,274.75 EUR · to 11,081,752,999.75 EUR · 1,022,219 new shares
  6. 13-01-2012 Capital reduction of 572,000,000 EUR · to 10,509,752,999.75 EUR · repaid to the shareholders
  7. 12-01-2011 Capital increase of 1,049,053,039.87 EUR · to 8,547,678,725 EUR · 423,177 new shares
  8. 25-05-2010 Capital increase of 4,098,713,344.43 EUR · to 7,498,625,685.13 EUR · 1,653,378 new shares
Show 2 older capital entries
  1. 14-07-2006 Capital increase of 330,982,349.85 EUR · to 3,399,912,340.70 EUR · 133,515 new shares
  2. 09-06-2006 Capital increase of 73,551,633.30 EUR · to 3,068,929,990.85 EUR · 29,670 new shares

Recognitions · licences · registrations

Legal Entity Identifier

5493005BNQH7CT4ONQ93
live in the LEI register

Similar companies · same sector, comparable size

Of 5,712 companies in sector 70100 we hold annual accounts for 3,519. 242 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded21-05-1986
Fiscal year end31-12
Activities, NACEBEL 2025
70100Activities of head offices
E-invoicing
Reachable via Peppol
Peppol ID 0208:0428975372
Registered 12-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 28 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.