COGEDIM
ActiveSummary
COGEDIM has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€17,672) and a net result of €16,564. Equity is growing by ~11.1% per year across the filed fiscal years. Its solvency ranks better than 15% of 14462 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+6
Solvency19▲+5
Growth62=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.02 against 0.01 in 2024; short-term debt: 96.4% and cash: 1.1% of total assets), and equity is negative.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
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
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-5.9%
Return on assets
5.5%
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 15% of 14462 sector peers (2025).
NBB · sector comparisonPosition among 14462 sector peers
Solvency
better than 15%
← 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 31-08-2026, 31 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
31 d late
2024
16 d late
2023
32 d late
2022
32 d late
2021
153 d late
2020
201 d late
2019
216 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 97 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 1 September (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Turnover
€70,314▲ 0.4%
2019 · €70,002
EBIT margin
-1.7%▼ 31.9pp
2019 · 30.1%
Net result
€16,564▲ 25.7%
2024 · €13,175
Working capital
-€281,923▲ 0.2%
2024 · -€282,371
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€70,314
Operating result-€1,230€16,340€17,366▲ 6.3%€21,996▲ 26.7%€24,113▲ 9.6%
Net result-€17,831below the sector's middle half€4,938within the sector's middle half€7,209within the sector's middle half▲ 46.0%€13,175within the sector's middle half▲ 82.8%€16,564within the sector's middle half▲ 25.7%
EBIT margin-1.7%
Equity-€59,559below the sector's middle half▼ 42.7%-€54,621below the sector's middle half▲ 8.3%-€47,412below the sector's middle half▲ 13.2%-€34,256below the sector's middle half▲ 27.7%-€17,672below the sector's middle half▲ 48.4%
Total assets€379,479within the sector's middle half▼ 11.1%€357,308within the sector's middle half▼ 5.8%€333,893within the sector's middle half▼ 6.6%€311,423within the sector's middle half▼ 6.7%€298,724within the sector's middle half▼ 4.1%
Debt€439,038▼ 6.3%€411,928▼ 6.2%€381,304▼ 7.4%€345,679▼ 9.3%€316,396▼ 8.5%
Working capital€468within the sector's middle half-€283,007below the sector's middle half-€250,634below the sector's middle half▲ 11.4%-€282,371below the sector's middle half▼ 12.7%-€281,923below the sector's middle half▲ 0.2%
Solvency-15.7%below the sector's middle half▼ 5.9pp-15.3%below the sector's middle half▲ 0.4pp-14.2%below the sector's middle half▲ 1.1pp-11.0%below the sector's middle half▲ 3.2pp-5.9%below the sector's middle half▲ 5.1pp
Current ratio1.09within the sector's middle half▲ 0.410.03below the sector's middle half▼ 1.060.04below the sector's middle half▲ 0.010.01below the sector's middle half▼ 0.030.02below the sector's middle half▲ 0.01
Return on assets (ROA)-4.7%below the sector's middle half▼ 6.5pp1.4%within the sector's middle half▲ 6.1pp2.2%within the sector's middle half▲ 0.8pp4.2%within the sector's middle half▲ 2.1pp5.5%within the sector's middle half▲ 1.3pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 10% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €298,724
Fixed assets
€292,711 ▼ 5.1%
Current assets
€6,013 ▲ 113%
Equity and liabilities
Equity-€17,672
Debt€316,396
Equity is negative: debt (€316,396) exceeds the balance-sheet total (€298,724).
Key figures and ratios
EBITDA
€49,449▲
2024 · €47,189
Cash flow
€41,900▲
2024 · €38,369
Interest coverage
6.72▲
2024 · 5.56
Debt ≤ 1 year
€287,935▲
2024 · €285,200
Debt > 1 year
€28,461▼
2024 · €60,479
Income taxes
€193▼
2024 · €334
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,632 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.9%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 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% | 1.8% |
| 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 3,632 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €70,314 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €17,279 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €49,282 | €26,966 | €27,817 | €25,194 | €25,336 | ▲ 0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €102 | - | €328 | €379 | ▲ 15.4% |
| Other operating charges640/8 | €4,983 | €6,090 | €6,049 | €6,373 | €7,017 | ▲ 10.1% |
| Gross operating margin9900 | €53,036 | €49,497 | €51,231 | €53,890 | €56,845 | ▲ 5.5% |
| Operating profit (loss)9901 | -€1,230 | €16,340 | €17,366 | €21,996 | €24,113 | ▲ 9.6% |
| Financial charges65/66B | €12,570 | €11,243 | €9,992 | €8,487 | €7,356 | ▼ 13.3% |
| Recurring financial charges65 | €12,570 | €11,243 | €9,992 | €8,487 | €7,356 | ▼ 13.3% |
| Profit (loss) for the period before taxes9903 | -€13,800 | €5,096 | €7,374 | €13,509 | €16,757 | ▲ 24.0% |
| Income taxes67/77 | €4,030 | €159 | €165 | €334 | €193 | ▼ 42.2% |
| Profit (loss) for the period9904 | -€17,831 | €4,938 | €7,209 | €13,175 | €16,564 | ▲ 25.7% |
| Profit (loss) for the period to be appropriated9905 | -€17,831 | €4,938 | €7,209 | €13,175 | €16,564 | ▲ 25.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €379,479 | €357,308 | €333,893 | €311,423 | €298,724 | ▼ 4.1% |
| Fixed assets21/28 | €373,816 | €349,872 | €324,788 | €308,595 | €292,711 | ▼ 5.1% |
| Tangible fixed assets22/27 | €373,816 | €349,872 | €324,788 | €308,595 | €292,711 | ▼ 5.1% |
| Land and buildings22 | €365,510 | €345,092 | €324,283 | €308,595 | €288,792 | ▼ 6.4% |
| Furniture and vehicles24 | €8,306 | €4,780 | €505 | - | - | - |
| Assets under construction and advance payments27 | - | - | - | - | €3,919 | - |
| Current assets29/58 | €5,664 | €7,435 | €9,104 | €2,829 | €6,013 | ▲ 113% |
| Amounts receivable within one year40/41 | €3,119 | €3,961 | €5,721 | €1,398 | €1,923 | ▲ 37.6% |
| Trade receivables40 | €3,119 | €3,961 | €5,721 | €1,398 | €1,923 | ▲ 37.6% |
| Cash at bank and in hand54/58 | €1,839 | €2,636 | €3,226 | €750 | €3,311 | ▲ 342% |
| Deferred charges and accrued income490/1 | €706 | €839 | €157 | €681 | €778 | ▲ 14.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €379,479 | €357,308 | €333,893 | €311,423 | €298,724 | ▼ 4.1% |
| Equity10/15 | -€59,559 | -€54,621 | -€47,412 | -€34,256 | -€17,672 | ▲ 48.4% |
| Contributions10/11 | €73,600 | €73,600 | €73,600 | €73,600 | €73,600 | = |
| Profit (loss) carried forward14 | -€133,159 | -€128,221 | -€121,012 | -€107,856 | -€91,272 | ▲ 15.4% |
| Amounts payable17/49 | €439,038 | €411,928 | €381,304 | €345,679 | €316,396 | ▼ 8.5% |
| Amounts payable after more than one year17 | €433,842 | €121,486 | €121,566 | €60,479 | €28,461 | ▼ 52.9% |
| Financial debts170/4 | €185,803 | €117,242 | €117,242 | €55,215 | €24,063 | ▼ 56.4% |
| Other amounts payable178/9 | €248,039 | €4,244 | €4,324 | €5,264 | €4,398 | ▼ 16.5% |
| Amounts payable within one year42/48 | €5,196 | €290,443 | €259,739 | €285,200 | €287,935 | ▲ 1.0% |
| Current portion of amounts payable after more than one year42 | - | €32,505 | - | €32,731 | €31,153 | ▼ 4.8% |
| Financial debts43 | - | - | - | €532 | - | - |
| Credit institutions430/8 | - | - | - | €532 | - | - |
| Trade debts44 | €832 | €6,159 | €1,176 | €5,723 | €4,225 | ▼ 26.2% |
| Suppliers440/4 | €832 | €6,159 | €1,176 | €5,723 | €4,225 | ▼ 26.2% |
| Taxes, remuneration and social security45 | €4,364 | €159 | €172 | €175 | €368 | ▲ 110% |
| Taxes450/3 | €4,364 | €159 | €172 | €175 | €368 | ▲ 110% |
| Other amounts payable47/48 | - | €251,620 | €258,391 | €246,038 | €252,190 | ▲ 2.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,831 | €4,938 | €7,209 | €13,175 | €16,564 | ▲ 25.7% |
| + Depreciation and write-downs630 | €49,282 | €26,966 | €27,817 | €25,194 | €25,336 | ▲ 0.6% |
| Operating cash flow (approximation) | €31,452 | €31,904 | €35,026 | €38,369 | €41,900 | ▲ 9.2% |
| Investment in fixed assets (approximation) | - | -€3,023 | -€2,733 | -€9,000 | -€9,453 | ▼ 5.0% |
| Change in cash | - | €797 | €590 | -€2,476 | €2,561 | ▲ 203% |
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 2026, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Highest result since 2018net €16,564 ▲25.7%
Net result €16,564, the highest in the series.
16-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 16 days late
2024
01-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 32 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 32 days late
2022
31-12
Financial
Back to profitnet €4,938
Net result €4,938 after one loss-making year.
31-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 153 days late
17-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 201 days late
2021
31-12
Financial
Weakest financial yearnet -€17,831
Net result drops to -€17,831, the lowest in the series; recovery starts the following year.
04-03
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 216 days late
2020
31-12
Financial
Back to profitnet €7,591
Net result €7,591 after one loss-making year.
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 366 days late
2019
20-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 416 days late
2018
07-11
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 464 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has 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
No directors read yet: 0 of 4 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Liège · 2 establishment units since 2009
Ground area
160 m²
Building footprint
57 m²
Volume, LiDAR
919 m³
Parcel 62817B0720/00G000, Wallonia · tallest building 18.3 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
2 establishment units
COGEDIM
since 20092.229.839.958
COGEDIM
since 20262.387.860.381
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62817B0720/00G000 | Wallonia | 160 m² | 1 · 57 m² | 18.3 m · 6 fl. |
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.
Similar companies · same sector and region
1.1618 IMMO
BE 0775.667.428
Liège
AGS Invest Group
BE 1007.247.406
Liège
AMLOO
BE 1036.656.915
Liège
ANNET INVEST
BE 0896.180.327
Liège
BAYTURK
BE 0801.876.927
Liège
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 9,141 companies in this sector we hold annual accounts for 6,773. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded10-06-2009
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0812186443
Also
9925:BE0812186443
Registered
02-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.