Cogea
ActiveSummary
The computed 12-month bankruptcy probability of Cogea is 2.4% (moderate). The 2026 annual accounts show equity of €47,972 and a net result of €5,178. Equity is growing by ~30.6% per year across the filed fiscal years. Its solvency ranks better than 22% of 102 sector peers (fiscal year 2026). The company has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2026
Axes · tick = 2025
Profitability81▼-19
Solvency49▼-40
Growth68▼-17
Track record94
Bankruptcy probability, 12 months
2.4%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,500 at 30 days acceptable
Liquidity short (current ratio 0.75 against 3.53 in 2025; short-term debt: 41.5% of total assets), and 76.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more 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 2026Solvency, return and age of the figures
Solvency
23.7%
Return on assets
2.6%
Age of the figures
5 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 102 sector peers (2026).
NBB · sector comparisonPosition among 102 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-04-2026 was due by 30-11-2026 and was filed on 26-08-2026, 96 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2026
96 d early
2025
96 d early
2024
72 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 88 days before the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-04-2027 and is due by 30-11-2027. Nothing is late today. Usually files around 26 August (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-04-2027 close30-11-2027 deadline
History
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Financials · fiscal year 2026, abbreviated schema
Turnover
€127,225▲ 29.9%
2025 · €97,931
EBIT margin
7.2%▼ 22.5pp
2025 · 29.7%
Net result
€5,178▼ 75.4%
2025 · €21,040
Working capital
-€21,423
2025 · €46,601
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 43, Specialised construction 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
Line202420252026
Turnover€69,834-€97,931▲ 40.2%€127,225▲ 29.9%
Operating result€28,335-€29,049▲ 2.5%€9,159▼ 68.5%
Net result€20,754within the sector's middle half-€21,040within the sector's middle half▲ 1.4%€5,178▼ 75.4%
EBIT margin40.6%-29.7%▼ 10.9pp7.2%▼ 22.5pp
Equity€21,754within the sector's middle half-€42,794within the sector's middle half▲ 96.7%€47,972▲ 12.1%
Total assets€33,098below the sector's middle half-€66,593within the sector's middle half▲ 101%€202,677▲ 204%
Debt€11,345-€23,799▲ 110%€154,705▲ 550%
Working capital€21,254within the sector's middle half-€46,601within the sector's middle half▲ 119%-€21,423
Solvency65.7%within the sector's middle half-64.3%within the sector's middle half▼ 1.5pp23.7%▼ 40.6pp
Current ratio2.87within the sector's middle half-3.53above the sector's middle half▲ 0.650.75▼ 2.78
Return on assets (ROA)62.7%above the sector's middle half-31.6%above the sector's middle half▼ 31.1pp2.6%▼ 29.0pp
Staff (FTE)1
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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
The operating result falls in 2026; 2026 is 68% below 2025 and is the lowest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €202,677
Fixed assets
€139,932 ▲ 8,957%
Current assets
€62,745 ▼ 3.5%
Equity and liabilities €202,677
Equity
€47,972 ▲ 12.1%
Debt
€154,705 ▲ 550%
Debt's share of the balance-sheet total rises from 35.7% to 76.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€29,006▼
2025 · €29,460
Cash flow
€25,025▲
2025 · €21,451
Quick ratio
0.73▼
2025 · 3.53
Debt to equity
3.22▲
2025 · 0.56
ROE
10.8%▼
2025 · 49.2%
Interest coverage
21.53▼
2025 · 230.30
Debt ≤ 1 year
€84,168▲
2025 · €18,447
Debt > 1 year
€67,762
Income taxes
€2,718▼
2025 · €7,881
Staff costs
€10,668▲
2025 · €1,530
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,542 companies that looked in July 2024 the way this one looks now, 3.5% went bankrupt within 24 months and 95% are still going.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
3.5%
went bankrupt
1.2%
stopped otherwise
95%
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 2.4% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 2,542 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 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Turnover70 | €69,834 | €97,931 | €127,225 | ▲ 29.9% |
| Non-recurring operating income76A | - | - | €1,699 | - |
| Goods, raw materials, services and sundry goods60/61 | €41,292 | €65,671 | €90,287 | ▲ 37.5% |
| Remuneration, social security and pensions62 | - | €1,530 | €10,668 | ▲ 597% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €411 | €19,847 | ▲ 4,731% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€1,500 | - |
| Other operating charges640/8 | €207 | €1,270 | €463 | ▼ 63.5% |
| Gross operating margin9900 | €28,542 | €32,261 | €38,637 | ▲ 19.8% |
| Operating profit (loss)9901 | €28,335 | €29,049 | €9,159 | ▼ 68.5% |
| Financial income75/76B | - | - | €85 | - |
| Recurring financial income75 | - | - | €85 | - |
| Non-recurring financial income76B | - | - | €85 | - |
| Financial charges65/66B | €26 | €128 | €1,347 | ▲ 953% |
| Recurring financial charges65 | €26 | €128 | €1,347 | ▲ 953% |
| Profit (loss) for the period before taxes9903 | €28,309 | €28,921 | €7,896 | ▼ 72.7% |
| Income taxes67/77 | €7,555 | €7,881 | €2,718 | ▼ 65.5% |
| Profit (loss) for the period9904 | €20,754 | €21,040 | €5,178 | ▼ 75.4% |
| Profit (loss) for the period to be appropriated9905 | €20,754 | €21,040 | €5,178 | ▼ 75.4% |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €33,098 | €66,593 | €202,677 | ▲ 204% |
| Fixed assets21/28 | €500 | €1,545 | €139,932 | ▲ 8,957% |
| Tangible fixed assets22/27 | - | €1,045 | €139,432 | ▲ 13,243% |
| Plant, machinery and equipment23 | - | €1,045 | €110,992 | ▲ 10,522% |
| Furniture and vehicles24 | - | - | €28,440 | - |
| Financial fixed assets28 | €500 | €500 | €500 | = |
| Current assets29/58 | €32,598 | €65,048 | €62,745 | ▼ 3.5% |
| Amounts receivable after more than one year29 | €19,960 | €29,292 | €34,427 | ▲ 17.5% |
| Other amounts receivable291 | €19,960 | €29,292 | €34,427 | ▲ 17.5% |
| Stocks and contracts in progress3 | - | - | €1,500 | - |
| Contracts in progress37 | - | - | €1,500 | - |
| Amounts receivable within one year40/41 | €3,047 | €31,628 | €26,818 | ▼ 15.2% |
| Trade receivables40 | €3,047 | €31,628 | €26,818 | ▼ 15.2% |
| Cash at bank and in hand54/58 | €8,472 | €4,128 | - | - |
| Deferred charges and accrued income490/1 | €1,120 | - | - | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €33,098 | €66,593 | €202,677 | ▲ 204% |
| Equity10/15 | €21,754 | €42,794 | €47,972 | ▲ 12.1% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | = |
| Capital10 | €1,000 | €1,000 | €1,000 | = |
| Issued capital100 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €20,100 | €41,100 | €41,100 | = |
| Non-distributable reserves130/1 | €100 | €100 | €100 | = |
| Legal reserve130 | €100 | €100 | €100 | = |
| Distributable reserves133 | €20,000 | €41,000 | €41,000 | = |
| Profit (loss) carried forward14 | €654 | €694 | €5,872 | ▲ 746% |
| Amounts payable17/49 | €11,345 | €23,799 | €154,705 | ▲ 550% |
| Amounts payable after more than one year17 | - | - | €67,762 | - |
| Financial debts170/4 | - | - | €67,762 | - |
| Amounts payable within one year42/48 | €11,345 | €18,447 | €84,168 | ▲ 356% |
| Financial debts43 | - | - | €9,804 | - |
| Credit institutions430/8 | - | - | €9,804 | - |
| Trade debts44 | €3,790 | €4,351 | €28,986 | ▲ 566% |
| Suppliers440/4 | €3,790 | €4,351 | €28,986 | ▲ 566% |
| Taxes, remuneration and social security45 | €7,555 | €12,136 | €8,848 | ▼ 27.1% |
| Taxes450/3 | €7,555 | €12,136 | €8,848 | ▼ 27.1% |
| Other amounts payable47/48 | - | €1,960 | €36,530 | ▲ 1,764% |
| Accrued charges and deferred income492/3 | - | €5,352 | €2,774 | ▼ 48.2% |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,754 | €21,040 | €5,178 | ▼ 75.4% |
| + Depreciation and write-downs630 | - | €411 | €19,847 | ▲ 4,731% |
| Operating cash flow (approximation) | €20,754 | €21,451 | €25,025 | ▲ 16.7% |
| Investment in fixed assets (approximation) | - | -€1,456 | -€158,234 | ▼ 10,770% |
| Change in cash | - | -€4,344 | - | - |
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 2027, expected by
2026
26-08
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
30-04
Financial
Weakest financial yearnet €5,178 ▼75.4%
Net result drops to €5,178, the lowest in the series.
2025
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
30-04
Financial
Highest result since 2024net €21,040 ▲1.4%
Operating result €29,049, net result €21,040, both a record.
2024
19-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Zoersel · 1 establishment unit since 2023
Ground area
904 m²
Building footprint
221 m²
Parcel 11055A0350/00D000, Flanders. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Cogea
since 20232.344.871.664
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11055A0350/00D000 | Flanders | 904 m² | 1 · 221 m² | - |
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.
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Of 15,524 companies in sector 43990 we hold annual accounts for 7,427. 6,068 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
Founded19-04-2023
Fiscal year end30-04
Activities, NACEBEL 2025
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0800933651
Also
9925:BE0800933651
Registered
21-11-2025
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.