COGEAF
ActiveSummary
COGEAF has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €691k and a net result of €25k. Equity is growing by ~7.2% per year across the filed fiscal years. Its solvency ranks better than 83% of 9194 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
84
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72▲+1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €55k at 30 days acceptable
Liquidity ample (current ratio 4.12 against 4.14 in 2024; short-term debt: 17.7% and cash: 16.1% of total assets), and 22.1% of the assets are financed with debt.
Credit advice for your own amount and term
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 68
Relative position
BE, all sectors
reference
Sector 68
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
77.9%
Return on assets
2.8%
Age of the figures
9 mo
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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
14 d late
2023
27 d late
2022
on the day
2021
2 d late
2020
69 d late
2019
21 d late
← before the deadline
after the deadline →
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
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€25k▲ 70.3%
2024 · €15k
2018: €31k
2019: €30k
2020: €33k
2021: €44k
2022: €47k
2023: €56k
2024: €15k
2018 → 2025
Working capital
€490k▲ 2.3%
2024 · €479k
2018: €230k
2019: €275k
2020: €321k
2021: €364k
2022: €417k
2023: €472k
2024: €479k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€549k-€595k▲ 8.5%€652k▲ 9.5%€666k▲ 2.2%€691k▲ 3.7%
Operating result€67k-€68k▲ 2.4%€82k▲ 19.8%€26k▼ 67.8%€38k▲ 45.5%
Net result€44k-€47k▲ 5.3%€56k▲ 20.7%€15k▼ 74.2%€25k▲ 70.3%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 45% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €887k
Fixed assets
€241k ▲ 15.6%
Current assets
€646k ▲ 2.4%
Equity and liabilities €887k
Equity
€691k ▲ 3.7%
Debt
€196k ▲ 13.3%
Debt's share of the balance-sheet total rises from 20.6% to 22.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€45k▲
2024 · €30k
Cash flow
€32k▲
2024 · €18k
Current ratio
4.12▼
2024 · 4.14
Debt to equity
0.28▲
2024 · 0.26
ROE
3.6%▲
2024 · 2.2%
ROA
2.8%▲
2024 · 1.7%
Interest coverage
16.26▲
2024 · 10.28
Debt ≤ 1 year
€157k▲
2024 · €152k
Debt > 1 year
€39k▲
2024 · €21k
Income taxes
€11k▲
2024 · €9k
Staff costs
€344k▼
2024 · €357k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 51 lines
Balance sheet
Code20242025
Assets
Total assets20/58€839k€887k▲
Fixed assets21/28€208k€241k▲
Tangible fixed assets22/27€185k€218k▲
Land and buildings22€156k€195k▲
Furniture and vehicles24€30k€23k▼
Financial fixed assets28€23k€23k=
Current assets29/58€631k€646k▲
Amounts receivable within one year40/41€549k€501k▼
Trade receivables40€520k€470k▼
Other amounts receivable41€29k€31k▲
Cash at bank and in hand54/58€79k€143k▲
Deferred charges and accrued income490/1€3k€3k▼
Equity and liabilities
Total equity and liabilities10/49€839k€887k▲
Equity10/15€666k€691k▲
Contributions10/11€149k€149k=
Capital10€149k€149k=
Issued capital100€149k€149k=
Reserves13€15k€15k=
Non-distributable reserves130/1€15k€15k=
Legal reserve130€15k€15k=
Profit (loss) carried forward14€503k€528k▲
Amounts payable17/49€173k€196k▲
Amounts payable after more than one year17€21k€39k▲
Financial debts170/4€21k€39k▲
Amounts payable within one year42/48€152k€157k▲
Current portion of amounts payable after more than one year42€6k€18k▲
Financial debts43€25k€22k▼
Credit institutions430/8€25k€22k▼
Trade debts44€78k€67k▼
Suppliers440/4€78k€67k▼
Taxes, remuneration and social security45€30k€40k▲
Taxes450/3€0€9k▲
Remuneration and social security454/9€30k€31k▲
Other amounts payable47/48€14k€11k▼
Accrued charges and deferred income492/3€0-
Income statement
Code20242025
Remuneration, social security and pensions62€357k€344k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€4k€7k▲
Other operating charges640/8€19k€16k▼
Gross operating margin9900€406k€405k▼
Operating profit (loss)9901€26k€38k▲
Financial income75/76B€1€0▼
Recurring financial income75€1€0▼
Financial charges65/66B€3k€3k▼
Recurring financial charges65€3k€3k▼
Profit (loss) for the period before taxes9903€23k€36k▲
Income taxes67/77€9k€11k▲
Profit (loss) for the period9904€15k€25k▲
Profit (loss) for the period to be appropriated9905€15k€25k▲
Appropriation of the result
Profit (loss) to be appropriated9906€503k€528k▲
Profit (loss) brought forward from the previous period14P€488k€503k▲
Social balance
Average headcount (FTE)90877.9-
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 14 days late
2024
31-12
Financial
Weakest financial yearnet €15k ▼74.2%
Net result drops to €15k, the lowest in the series; recovery starts the following year.
27-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 27 days late
2023
31-12
Financial
Highest result since 2018net €56k ▲20.7%
Operating result €82k, net result €56k, both a record.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
02-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 2 days late
2021
08-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 69 days late
2020
31-12
Financial
Equity above €500kEq €504k ▲7.1%
3 profitable years in a row build equity to €504k.
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 21 days late
2019
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
7 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, Fleurus · 2 establishment units since 1983
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Chaussée de Gilly(FL) 2536220 FleurusGround area
3,821 m²
Building footprint
238 m²
Parcel 52332C0385/00Y000, Wallonia. Linked by address, not a title deed.
2 establishment units
Chaussée de Gilly(FL) 253, 6220 Fleurus
since 19832.021.409.922
Chaussée de Gilly(FL) 253, 6220 Fleurus
since 19832.021.410.021
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52332C0385/00Y000 | Wallonia | 3,821 m² | 1 · 238 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
VIV
BE 0830.615.453
Aalst · Eq €682k
EVERE GREEN
BE 0826.973.894
Evere · Eq €726k
LOGEO Agence Immobilière Sociale
BE 0457.766.655
Verviers · Eq €655k
LAUWERS
BE 0427.946.479
Zemst · Eq €613k
Serry Invest
BE 0819.078.787
Tielt · Eq €576k
Of 206 companies in sector 68202 we hold annual accounts for 190. 50 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded23-12-1982
Fiscal year end31-12
Activities, NACEBEL 2025
18120Other printing
68202Real estate activities
68201Renting and operating of own or leased residential real estate, excluding social housing
78200Temporary employment agencies and other provision of personnel
Sources
Crossroads Bank for EnterprisesNational Bank · 42 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.