COEK ENGINEERING
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 03-07-2026 at the NBB all 48 filings
Every figure per financial year
The operating result for 2025 is 71% lower than in 2024 and the lowest since 2021.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 21 | 20 | 19 | 19 | 22 |
| full-time | 19 | 16 | 15 | 16 | 21 |
| part-time | 2 | 4 | 4 | 3 | 1 |
| in full-time equivalents | 20.6 | 19.3 | 18.4 | 18.6 | 21.8 |
| Average over the year, in full-time equivalents | 20.4 | 19.1 | 19.1 | 18.5 | 18.9 |
| On a permanent contract | 21 | 20 | 19 | 19 | 22 |
| Joined | 2 | 1 | 1 | 1 | 5 |
| Left | 3 | 2 | 2 | 1 | 2 |
| Agency workers, average number | 2.7 | 1.5 | 4 | 2.3 | 1.7 |
| Training hours | 208 | 172 | 618 | 190 | 44 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Pledge on the business | €46.2m | €46.2m | €46.2m | €46.2m | €46.2m |
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 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €14,410 | €171,867 | €613,161 | €623,259 |
| Financial fixed assets | €9.4m | - | - | - | - |
| Depreciation and write-downs of the year | €61,223 | €59,446 | €70,615 | €69,374 | €40,897 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is Moore Audit.
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €18,000 | €19,740 | €20,135 | €21,140 | €21,260 |
| Other work by the auditor | €2,489 | €1,652 | - | - | - |
| Work by persons linked to the auditor | - | - | - | - | €6,422 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2024 to 2025 · 3 entries · €3,245 awarded · €3,245 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €2,205 | €2,205 |
| 2024 | 1 | €1,040 | €1,040 |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €52.4m | €35.9m | €28.8m | €27.1m | €26.3m | ▼ 2.9% |
| Turnover70 | €41.5m | €48.4m | €50.0m | €45.6m | €37.2m | €33.0m | €31.4m | €24.2m | ▼ 23.0% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | - | €6.8m | -€1.3m | -€4.2m | -€4.4m | €2.1m | - |
| Other operating income74 | - | - | - | €0.03m | €0.03m | €0.03m | €0.04m | €0.04m | ▲ 19.6% |
| Operating charges60/66A | - | - | - | €48.3m | €31.9m | €27.5m | €24.9m | €25.7m | ▲ 3.0% |
| Goods for resale, raw materials and consumables60 | - | - | - | €42.6m | €27.2m | €21.9m | €20.1m | €20.6m | ▲ 2.5% |
| Purchases600/8 | - | - | - | €42.8m | €27.1m | €21.8m | €20.0m | €20.6m | ▲ 3.0% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.2m | €0.1m | €0.03m | €0.03m | -€0.08m | - |
| Services and other goods61 | - | - | - | €3.9m | €3.0m | €3.8m | €3.1m | €3.2m | ▲ 6.2% |
| Remuneration, social security and pensions62 | - | - | - | €1.6m | €1.6m | €1.7m | €1.7m | €1.8m | ▲ 5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.06m | €0.06m | €0.07m | €0.07m | €0.04m | ▼ 41.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€0.04m | -€0.02m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.06m | €0.02m | €0.03m | €0.03m | €0.03m | ▲ 4.1% |
| Operating profit (loss)9901 | €3.7m | €4.5m | €3.3m | €4.1m | €4.1m | €1.3m | €2.2m | €0.6m | ▼ 71.1% |
| Financial income75/76B | - | - | - | €341 | €0.06m | €0.006m | €0.2m | €0.1m | ▼ 44.6% |
| Recurring financial income75 | €0.001m | €0.03m | €445 | €341 | €0.06m | €0.006m | €0.2m | €0.1m | ▼ 44.6% |
| Income from current assets751 | - | - | - | €77 | - | €0.005m | €0.2m | €0.1m | ▼ 44.6% |
| Other financial income752/9 | - | - | - | €264 | €0.06m | €314 | €110 | €70 | ▼ 35.8% |
| Financial charges65/66B | - | - | - | €0.3m | €0.2m | €0.1m | €0.2m | €0.1m | ▼ 16.5% |
| Recurring financial charges65 | €0.1m | €0.2m | €0.2m | €0.3m | €0.2m | €0.1m | €0.2m | €0.1m | ▼ 16.5% |
| Debt charges650 | - | - | - | €0.06m | €0.07m | €0.06m | €0.06m | €0.06m | ▲ 12.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | -€0.001m | -€0.001m | - | -€0.002m | -€0.001m | ▲ 53.5% |
| Other financial charges652/9 | - | - | - | €0.2m | €0.1m | €0.08m | €0.1m | €0.08m | ▼ 30.6% |
| Profit (loss) for the period before taxes9903 | €3.6m | €4.3m | €3.1m | €3.8m | €3.9m | €1.2m | €2.2m | €0.6m | ▼ 73.2% |
| Income taxes67/77 | €1.1m | €1.3m | €0.8m | €1.0m | €1.0m | €0.3m | €0.6m | €0.2m | ▼ 71.3% |
| Taxes670/3 | - | - | - | €1.0m | €1.0m | €0.3m | €0.6m | €0.2m | ▼ 71.1% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.01m | €0.01m | - | €373 | €0.001m | ▲ 272% |
| Profit (loss) for the period9904 | €2.5m | €3.0m | €2.3m | €2.9m | €2.9m | €0.9m | €1.6m | €0.4m | ▼ 73.8% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.01m | €0.09m | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €2.5m | €3.0m | €2.3m | €2.9m | €3.0m | €0.9m | €1.6m | €0.4m | ▼ 73.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €22.9m | €24.9m | €27.1m | €30.4m | €31.0m | €24.0m | €25.4m | €24.0m | ▼ 5.6% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.4m | €9.6m | €9.5m | €9.6m | €10.1m | €10.7m | ▲ 5.7% |
| Tangible fixed assets22/27 | €0.6m | €0.5m | €0.4m | €0.1m | €0.1m | €0.2m | €0.7m | €1.3m | ▲ 78.1% |
| Plant, machinery and equipment23 | - | - | - | €0.07m | €0.06m | €0.2m | €0.1m | €0.1m | ▼ 7.3% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.04m | €0.04m | €0.02m | €0.01m | ▼ 30.5% |
| Assets under construction and advance payments27 | - | - | - | - | - | - | €0.6m | €1.2m | ▲ 97.2% |
| Financial fixed assets28 | €0.07m | €0.05m | €0.03m | €9.4m | €9.4m | €9.4m | €9.4m | €9.4m | = |
| Affiliated companies280/1 | - | - | - | €9.4m | €9.4m | €9.4m | €9.4m | €9.4m | = |
| Participating interests280 | - | - | - | €9.4m | €9.4m | €9.4m | €9.4m | €9.4m | = |
| Other financial fixed assets284/8 | - | - | - | €0.03m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.03m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €22.2m | €24.3m | €26.6m | €20.8m | €21.5m | €14.4m | €15.3m | €13.3m | ▼ 13.2% |
| Stocks and contracts in progress3 | €1.3m | €1.2m | €1.1m | €11.2m | €9.8m | €5.6m | €1.2m | €3.3m | ▲ 181% |
| Stocks30/36 | - | - | - | €1.3m | €1.1m | €1.1m | €1.1m | €1.2m | ▲ 7.0% |
| Raw materials and consumables30/31 | - | - | - | €1.3m | €1.1m | €1.1m | €1.1m | €1.2m | ▲ 7.0% |
| Contracts in progress37 | - | - | - | €9.9m | €8.7m | €4.4m | €0.1m | €2.2m | ▲ 23× |
| Amounts receivable within one year40/41 | €3.0m | €3.2m | €8.1m | €7.0m | €10.1m | €7.6m | €4.8m | €4.1m | ▼ 14.2% |
| Trade receivables40 | - | - | - | €4.3m | €7.7m | €4.5m | €2.7m | €1.6m | ▼ 38.4% |
| Other amounts receivable41 | - | - | - | €2.7m | €2.4m | €3.1m | €2.1m | €2.5m | ▲ 16.3% |
| Current investments50/53 | - | - | €4.0m | - | - | €0.8m | €8.6m | €5.0m | ▼ 41.7% |
| Other investments51/53 | - | - | - | - | - | €0.8m | €8.6m | €5.0m | ▼ 41.7% |
| Cash at bank and in hand54/58 | €11.7m | €3.1m | €10.3m | €2.5m | €1.5m | €0.4m | €0.6m | €0.7m | ▲ 8.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.06m | €0.08m | €0.08m | €0.1m | €0.1m | ▲ 16.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €22.9m | €24.9m | €27.1m | €30.4m | €31.0m | €24.0m | €25.4m | €24.0m | ▼ 5.6% |
| Equity10/15 | €5.2m | €5.2m | €7.5m | €7.7m | €7.6m | €7.7m | €7.8m | €8.2m | ▲ 5.4% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €4.9m | €4.9m | €7.3m | €7.4m | €7.3m | €7.4m | €7.5m | €8.0m | ▲ 5.6% |
| 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 | = |
| Tax-exempt reserves132 | - | - | - | €0.09m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €7.3m | €7.3m | €7.4m | €7.5m | €7.9m | ▲ 5.6% |
| Provisions and deferred taxes16 | €0.3m | €0.1m | €0.06m | €0.02m | - | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.02m | - | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | €0.02m | - | - | - | - | - |
| Amounts payable17/49 | €17.4m | €19.6m | €19.5m | €22.7m | €23.4m | €16.4m | €17.6m | €15.8m | ▼ 10.5% |
| Amounts payable within one year42/48 | €17.4m | €19.6m | €19.5m | €22.7m | €23.4m | €16.4m | €17.6m | €15.8m | ▼ 10.6% |
| Financial debts43 | - | - | - | €2.0m | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €2.0m | - | - | - | - | - |
| Trade debts44 | €4.3m | €4.7m | €2.4m | €3.3m | €3.3m | €2.4m | €2.3m | €1.6m | ▼ 32.5% |
| Suppliers440/4 | - | - | - | €3.3m | €3.3m | €2.4m | €2.3m | €1.6m | ▼ 32.5% |
| Advances received on contracts in progress46 | - | - | - | €13.6m | €12.7m | €8.7m | €11.4m | €7.9m | ▼ 30.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.4m | €0.3m | €0.3m | €0.3m | ▲ 13.1% |
| Taxes450/3 | - | - | - | €0.08m | €0.1m | €0.02m | €0.02m | €0.03m | ▲ 8.8% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 13.5% |
| Other amounts payable47/48 | - | - | - | €3.5m | €7.0m | €5.0m | €3.6m | €5.9m | ▲ 63.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €0.01m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.5m | €3.0m | €2.3m | €2.9m | €2.9m | €0.9m | €1.6m | €0.4m | ▼ 73.8% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.2m | €0.06m | €0.06m | €0.07m | €0.07m | €0.04m | ▼ 41.0% |
| Operating cash flow (approximation) | €2.7m | €3.2m | €2.5m | €2.9m | €3.0m | €1.0m | €1.7m | €0.5m | ▼ 72.5% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€0.01m | -€9.2m | €0.01m | -€0.2m | -€0.6m | -€0.6m | ▼ 1.6% |
| Change in cash | - | -€8.6m | €7.2m | -€7.7m | -€1.0m | -€1.1m | €0.2m | €0.05m | ▼ 73.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 14,766 companies had the same profile as COEK ENGINEERING has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of COEK ENGINEERING itself: 0.5% within 12 months.
Test of the method
The method was tested on the 497,446 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 14,766 companies, not a prediction for COEK ENGINEERING. 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.
Latest 10 of 48 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 03-07-2026 | 2026-00258296 | |
| 31-12-2024 | full format | 04-07-2025 | 2025-00246321 | |
| 31-12-2023 | full format | 10-07-2024 | 2024-00236120 | |
| 31-12-2022 | full format | 28-06-2023 | 2023-00175799 | |
| 31-12-2021 | full format | 24-06-2022 | 2022-20096930 | |
| 31-12-2020 | full format | 23-06-2021 | 2021-24100422 | |
| 31-12-2019 | full format | 26-06-2020 | 2020-22800271 | |
| 31-12-2018 | full format | 08-07-2019 | 2019-30300313 | |
| 31-12-2017 | full format | 29-06-2018 | 2018-27300059 | |
| 30-06-2016 | full format | 16-01-2017 | 2017-01300204 |