COGEBRU
ActiveCOGEBRU has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €405k and a net result of €6.95M. Equity is shrinking by ~2.5% per year across the filed fiscal years. Its solvency ranks better than 16% of 4512 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
57
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability61▲+10
Solvency28▼-43
Growth58=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €23k at 30 days acceptable
Liquidity short (current ratio 0.31 against 1.97 in 2024; short-term debt: 54.9% and cash: 2.3% of total assets), and 97% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine 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
3%
Return on assets
50.8%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 4512 sector peers (2025).
NBB · sector comparisonPosition among 4512 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
29 d late
2023
2 d early
2022
on the day
2021
31 d late
2020
31 d late
2019
on the day
← before the deadline
after the deadline →
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
18-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€6.95M▲ 666%
2024 · €907k
2018: €-333k
2019: €-255k
2020: €-261k
2021: €501k
2022: €618k
2023: €-473k
2024: €907k
2018 → 2025
Working capital
€-5.18M
2024 · €2.54M
2018: €-3.08M
2019: €1.49M
2020: €968k
2021: €3.56M
2022: €1.75M
2023: €1.04M
2024: €2.54M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€11.29M-€11.20M▼ 0.7%€10.73M▼ 4.2%€10.74M▲ 0.1%€405k▼ 96.2%
Operating result€577k-€517k▼ 10.3%€-483k€881k€39k▼ 95.6%
Net result€501k-€618k▲ 23.3%€-473k€907k€6.95M▲ 666%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 96% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.70M
Fixed assets
€11.36M▼ 36.9%
Current assets
€2.34M▼ 54.8%
Equity and liabilities €13.70M
Equity
€405k▼ 96.2%
Debt
€13.29M▲ 6.8%
The debt ratio rises from 53.7% to 97.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€277k▼
2024 · €1.12M
Cash flow
€7.19M▲
2024 · €1.15M
Solvency
3.0%▼
2024 · 46.3%
Current ratio
0.31▼
2024 · 1.97
Quick ratio
0.31▼
2024 · 1.97
Debt / equity
32.82▲
2024 · 1.16
ROA
50.8%▲
2024 · 3.9%
Interest coverage
1.32▼
2024 · 3.24
Debt
€13.29M▲
2024 · €12.44M
Debt ≤ 1 year
€7.52M▲
2024 · €2.63M
Debt > 1 year
€5.72M▼
2024 · €9.62M
Income taxes
€5k▼
2024 · €7k
A ratio outside any meaningful range has been withheld (balance sheet total €13.70M, equity €405k).
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€23.18M€13.70M▼
Fixed assets21/28€18.00M€11.36M▼
Tangible fixed assets22/27€6.43M€6.19M▼
Land and buildings22€6.43M€6.19M▼
Financial fixed assets28€11.57M€5.16M▼
Current assets29/58€5.18M€2.34M▼
Amounts receivable within one year40/41€4.32M€1.44M▼
Trade receivables40€3.02M€46k▼
Other amounts receivable41€1.31M€1.40M▲
Current investments50/53€500k€551k▲
Cash at bank and in hand54/58€307k€311k▲
Deferred charges and accrued income490/1€45k€37k▼
Equity and liabilities
Total equity and liabilities10/49€23.18M€13.70M▼
Equity10/15€10.74M€405k▼
Contributions10/11€330k€330k=
Capital10€330k€330k=
Issued capital100€330k€330k=
Reserves13€10.41M€63k▼
Non-distributable reserves130/1€63k€63k=
Legal reserve130€63k€63k=
Distributable reserves133€10.35M-
Profit (loss) carried forward14-€12k
Amounts payable17/49€12.44M€13.29M▲
Amounts payable after more than one year17€9.62M€5.72M▼
Financial debts170/4€7.71M€5.72M▼
Other amounts payable178/9€1.91M-
Amounts payable within one year42/48€2.63M€7.52M▲
Current portion of amounts payable after more than one year42-€146k
Trade debts44€653k-
Suppliers440/4€653k-
Taxes, remuneration and social security45€29k€29k=
Taxes450/3€29k€29k=
Other amounts payable47/48€1.95M€7.35M▲
Accrued charges and deferred income492/3€187k€45k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€238k€238k=
Other operating charges640/8€22k€23k▲
Gross operating margin9900€1.14M€300k▼
Operating profit (loss)9901€881k€39k▼
Financial income75/76B€108k€7.13M▲
Recurring financial income75€108k€7.13M▲
Financial charges65/66B€345k€209k▼
Recurring financial charges65€345k€209k▼
Profit (loss) for the period before taxes9903€644k€6.96M▲
Transfer from deferred taxes780€271k-
Income taxes67/77€7k€5k▼
Profit (loss) for the period9904€907k€6.95M▲
Transfer from tax-exempt reserves789€812k-
Profit (loss) for the period to be appropriated9905€1.72M€6.95M▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.72M€7.30M▲
Profit (loss) brought forward from the previous period14P-€347k
Transfer from equity791/2-€10.00M
Transfer to equity691/2€819k-
To other reserves6921€819k-
Profit to be distributed694/7€900k€17.29M▲
Return on contributions (dividend)694-€17.23M
Directors or managers695€900k€60k▼
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Highest result since 2018net €6.95M ▲666%
Net result €6.95M, the highest in the series.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 29 days late
2024
31-12
Financial
Back to profitnet €907k
Net result €907k after one loss-making year.
29-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet €-473k ▼177%
Net result drops to €-473k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-12
Financial
Back to profitnet €501k
Net result €501k after 3 loss-making years.
31-12
Financial
Liquidity triplescurrent ratio 4.78
Current ratio from 1.82 to 4.78; short-term debt falls from €1.19M to €942k.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial
Liquidity quadruplescurrent ratio 2.49
Current ratio from 0.57 to 2.49; short-term debt falls from €7.13M to €1.00M.
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 30 days late
2018
31-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
9 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, Watermaal-Bosvoorde · 1 establishment unit since 1987
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.
Terhulpsesteenweg 1771170 Watermaal-BosvoordeGround area
5,127 m²
Building footprint
1,510 m²
Volume, LiDAR
23,163 m³
Parcel 21652E0039/00H003, Brussels · tallest building 36.3 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Terhulpsesteenweg 177, 1170 Watermaal-Bosvoorde
since 19872.033.284.997
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0039/00H003 | Brussels | 5,127 m² | 1 · 1,510 m² | 36.3 m · 1 fl. |
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.
Recognitions · licences · registrations
Legal Entity Identifier
8755005H1SBS1KNU3M91
Similar companies · same sector, comparable size
PROJECT - ENGINEERING
BE 0460.110.590
Izegem · Eq €405k
Codimmo
BE 0700.763.533
Wommelgem · Eq €405k
MSE Invest
BE 0674.416.551
Grimbergen · Eq €405k
BLACKSHEEP TRIBES BELGIUM IMMO
BE 1006.175.654
Gembloux · Eq €405k
COENEN-SMEETS
BE 0859.845.117
Geetbets · Eq €405k
Of 9,134 companies in sector 68201 we hold annual accounts for 6,763. 5,044 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded02-02-1987
Fiscal year end31-12
Activities, NACEBEL
68201Renting and operating of own or leased residential real estate, excluding social housing
68121Development of residential building projects
Sources
Crossroads Bank for EnterprisesNational Bank · 39 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.