COGEFID
ActiveSummary
COGEFID has been active since 2009 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €245,973 and a net result of €4,856. Equity has been growing by about 2.7% per year since 2018. Its solvency ranks better than 72% of 15,790 sector peers (NACE 69, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 09-02-2009 Normal situation
- Activity
- Certified accountants and tax accountants NACE 69201
- Establishment unit
- 2.334.414.470 1420 Braine-l'Alleud, since 01-05-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 23-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Turnover
- €56,434
- ▼ 1.0%
- Profit
- €4,856
- Equity
- €245,973
- ▲ 2.0%
- Total assets
- €325,342
- ▼ 2.7%
- 2025 accounts filed 35 days after the deadline
Score breakdownraises risk1 change of registered office in 24 monthsLast filed accounts filed 35 days late; 3 of the last 3 accounts latelowers riskSector: Legal and accounting activities (NACE 69)Liquidity: current ratio 14.16, cash €42,039Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 69, micro). It does better than 87% of them on solvency, 54% on liquidity, 14% on profitability and 40% on growth.
The bankruptcy probability was computed on 03-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 89 days after the deadline. In the sector (NACE 69), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 35 days after the deadline Filed on 4 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00501140.
Annual accounts 2025 filed on 04-09-2026 at the NBB all 17 filings
Every figure per financial year
The operating result for 2025 is a profit of €8,822, after a loss of €7,947 in 2024.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,501 | €8,771 | €2,302 | €3,840 | €1,465 |
| Depreciation and write-downs of the year | €20,382 | €20,798 | €21,697 | €20,278 | €3,087 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €110,044 | €114,955 | €121,230 | €121,855 | €65,490 | €54,122 | €57,029 | €56,434 | ▼ 1.0% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €42,034 | €54,620 | €45,565 | €62,830 | €52,887 | ▼ 15.8% |
| Remuneration, social security and pensions62 | - | - | - | €0 | - | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,338 | €15,803 | €19,007 | €20,382 | €20,798 | €21,697 | €20,278 | €3,087 | ▼ 84.8% |
| Other operating charges640/8 | - | - | - | €3,528 | €2,486 | €3,550 | €2,687 | €2,546 | ▼ 5.3% |
| Non-recurring operating charges66A | - | - | - | €102 | €771 | €247 | €465 | €354 | ▼ 23.8% |
| Gross operating margin9900 | €71,079 | €65,030 | €77,964 | €86,170 | €17,933 | €22,517 | €15,483 | €14,808 | ▼ 4.4% |
| Operating profit (loss)9901 | €52,019 | €45,649 | €55,305 | €62,157 | -€6,123 | -€2,977 | -€7,947 | €8,822 | - |
| Financial income75/76B | - | - | - | €5,895 | €2,033 | €4,291 | €1,759 | €1,725 | ▼ 2.0% |
| Recurring financial income75 | €4,121 | €4,516 | €4,594 | €5,895 | €2,033 | €4,291 | €1,759 | €1,725 | ▼ 2.0% |
| Financial charges65/66B | - | - | - | €6,545 | €15,327 | €5,401 | €4,777 | €4,383 | ▼ 8.3% |
| Recurring financial charges65 | €8,289 | €8,393 | €7,199 | €6,545 | €15,327 | €5,401 | €4,777 | €4,383 | ▼ 8.3% |
| Profit (loss) for the period before taxes9903 | €47,851 | €41,773 | €52,700 | €61,507 | -€19,417 | -€4,087 | -€10,966 | €6,163 | - |
| Income taxes67/77 | €11,339 | €16,182 | €14,116 | €15,380 | - | €16,015 | - | €1,307 | - |
| Profit (loss) for the period9904 | €36,513 | €25,591 | €38,584 | €46,127 | -€19,417 | -€20,102 | -€10,966 | €4,856 | - |
| Profit (loss) for the period to be appropriated9905 | €36,513 | €25,591 | €38,584 | €46,127 | -€19,417 | -€20,102 | -€10,966 | €4,856 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €353,705 | €378,670 | €404,010 | €438,357 | €391,238 | €358,896 | €334,492 | €325,342 | ▼ 2.7% |
| Formation expenses20 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €90,400 | €76,058 | €72,735 | €56,854 | €44,827 | €25,432 | €8,994 | €7,372 | ▼ 18.0% |
| Intangible fixed assets21 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €90,400 | €76,058 | €72,735 | €56,854 | €44,827 | €25,432 | €8,994 | €7,372 | ▼ 18.0% |
| Land and buildings22 | - | - | - | €44,813 | €29,838 | €14,863 | €0 | €0 | - |
| Plant, machinery and equipment23 | - | - | - | €6,932 | €12,024 | €10,266 | €8,928 | €6,711 | ▼ 24.8% |
| Furniture and vehicles24 | - | - | - | €5,110 | €2,965 | €303 | €66 | €661 | ▲ 905% |
| Current assets29/58 | €263,305 | €302,612 | €331,275 | €381,502 | €346,410 | €333,464 | €325,497 | €317,970 | ▼ 2.3% |
| Amounts receivable after more than one year29 | - | - | - | €117,816 | €136,466 | €136,466 | €136,466 | €136,466 | = |
| Other amounts receivable291 | - | - | - | €117,816 | €136,466 | €136,466 | €136,466 | €136,466 | = |
| Amounts receivable within one year40/41 | €24,000 | €22,294 | €24,056 | €36,077 | €23,747 | €47,432 | €85,387 | €111,959 | ▲ 31.1% |
| Trade receivables40 | - | - | - | €27,505 | €23,153 | €23,841 | €28,744 | €29,488 | ▲ 2.6% |
| Other amounts receivable41 | - | - | - | €8,572 | €594 | €23,591 | €56,643 | €82,472 | ▲ 45.6% |
| Current investments50/53 | - | €52,862 | €54,670 | €60,549 | €31,796 | €34,337 | €34,337 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €135,104 | €105,416 | €116,881 | €149,209 | €133,769 | €91,712 | €43,871 | €42,039 | ▼ 4.2% |
| Deferred charges and accrued income490/1 | - | - | - | €17,851 | €20,633 | €23,518 | €25,436 | €27,505 | ▲ 8.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €353,705 | €378,670 | €404,010 | €438,357 | €391,238 | €358,896 | €334,492 | €325,342 | ▼ 2.7% |
| Equity10/15 | €181,301 | €206,891 | €245,476 | €291,603 | €272,185 | €252,083 | €241,118 | €245,973 | ▲ 2.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €160,841 | €186,431 | €225,016 | €271,143 | €251,725 | €231,623 | €220,658 | €225,513 | ▲ 2.2% |
| Amounts payable17/49 | €172,404 | €171,779 | €158,534 | €146,754 | €119,052 | €106,813 | €93,374 | €79,369 | ▼ 15.0% |
| Amounts payable after more than one year17 | €148,310 | €137,035 | €125,212 | €112,815 | €99,816 | €86,186 | €71,894 | €56,909 | ▼ 20.8% |
| Financial debts170/4 | - | - | - | €112,815 | €99,816 | €86,186 | €71,894 | €56,909 | ▼ 20.8% |
| Amounts payable within one year42/48 | €24,094 | €34,744 | €33,323 | €33,939 | €19,237 | €20,627 | €21,480 | €22,460 | ▲ 4.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,397 | €12,999 | €13,630 | €14,292 | €14,985 | ▲ 4.9% |
| Trade debts44 | €8,571 | €18,293 | €15,694 | €16,269 | €1,681 | €1,920 | €1,535 | €1,548 | ▲ 0.8% |
| Suppliers440/4 | - | - | - | €16,269 | €1,681 | €1,920 | €1,535 | €1,548 | ▲ 0.8% |
| Taxes, remuneration and social security45 | - | - | - | €5,273 | €1,806 | €2,326 | €2,903 | €3,176 | ▲ 9.4% |
| Taxes450/3 | - | - | - | €5,273 | €1,806 | €2,326 | €2,903 | €3,176 | ▲ 9.4% |
| Other amounts payable47/48 | - | - | - | €0 | €2,750 | €2,750 | €2,750 | €2,750 | = |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €0 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36,513 | €25,591 | €38,584 | €46,127 | -€19,417 | -€20,102 | -€10,966 | €4,856 | - |
| + Depreciation and write-downs630 | €15,338 | €15,803 | €19,007 | €20,382 | €20,798 | €21,697 | €20,278 | €3,087 | ▼ 84.8% |
| Operating cash flow (approximation) | €51,850 | €41,394 | €57,591 | €66,509 | €1,381 | €1,595 | €9,312 | €7,943 | ▼ 14.7% |
| Investment in fixed assets (approximation) | - | -€1,461 | -€15,684 | -€4,501 | -€8,771 | -€2,302 | -€3,840 | -€1,465 | ▲ 61.9% |
| Change in cash | - | -€29,689 | €11,466 | €32,328 | -€15,441 | -€42,057 | -€47,841 | -€1,832 | ▲ 96.2% |
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, 10,904 companies had the same profile as COGEFID has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
That fits the bankruptcy probability of COGEFID itself: 0.2% 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 10,904 companies, not a prediction for COGEFID. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 04-09-2026 | 2026-00501140 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00516076 | |
| 31-12-2023 | micro format | 03-12-2024 | 2024-00608660 | |
| 31-12-2022 | micro format | 25-09-2023 | 2023-00452370 | |
| 31-12-2021 | full format | 03-11-2022 | 2022-20516800 | |
| 31-12-2020 | full format | 01-12-2021 | 2021-79100355 | |
| 31-12-2019 | full format | 04-12-2020 | 2020-74700116 | |
| 31-12-2018 | full format | 11-12-2019 | 2019-75800569 | |
| 31-12-2017 | full format | 21-11-2018 | 2018-72600368 | |
| 31-12-2016 | full format | 09-10-2017 | 2017-66700554 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 30-11-2023 Converted to unavailable equity
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Henri MINET |
|
Articles of association
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Si aucune qualité ne forme majorité professionnels membres,qualité président organe gestion reprise registre public, article 2:55 Code des…”
Articles of association, deed of 30-11-2023 (in French)
Network & group
COGEFID shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of COGEFID. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
29-04
Gazette deed
Registered office moved from Waterloo to Braine l'alleudNew seat: Rue Longchamp 122 à 1420 Braine l'alleud · Previous seat: Avenue Paul de Lorraine 2, 1410 Waterloo4 points ▸
- General meeting, 09-04-2025
- Registered-office move, Rue Longchamp 122 à 1420 Braine l'alleud
- Other provision, “suppression of second operating seat, avenue Paul de Lorraine 2 à 1410 Waterloo” (deed in French)
- Other provision, “unique operating seat, rue Longchamp 122 à 1420 Braine l'alleud” (deed in French)
30-11
Gazette deed
Resignation: Henri MINET (manager)Reappointment: Henri MINET (administrateur non statutaire) · Amendment of the articles · Capital conversion10 points ▸
- General meeting, 28-11-2023
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Purpose change
- Other provision, “distribuer des acomptes sur dividende, acomptes sur dividende” (deed in French)
- Capital
- Director resignation, Henri MINET (manager)
- Director reappointment, Henri MINET (administrateur non statutaire)
- Director discharge, Henri MINET
- Registered office clause, “1410 Waterloo,Avenue Paul de Lorraine,2” (deed in French)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- Avenue Paul de Lorraine 2, 1410 Waterloo until 09-04-2025 · act of 29-04-2025
Activities
NACEBEL 2025Codes under NACEBEL 2008
8 activities
- Les services juridiques en rapport avec les activités du professionnel
- Fournir des conseils,des consultations en matière statistique,économique,financière et administrative
- Mener toutes sortes d'études et d'activités à cet égard,à l'exception des conseils en investissement et des activités pour lesquelles une reconnaissance supplémentaire est requise et/ou qui sont réservées par la loi à d'autres professions
- Fournir des conseils et une assistance en matière sociale,notamment l'accomplissement des formalités y relatives tel que le calcul des salaires
- Exercer les activités d'ordre juridique et économique compatibles avec la déontologie de la profession
- Exercer l'activité de syndic immobilier
- Exercer la fonction de liquidateur dans d'autres sociétés
- Exercer des mandats d'administrateurs dans d'autres sociétés inscrites au registre public de l'Institut.(ITAA)
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25014N1175/00G000 | Wallonia | 833 m² | 1 · 84 m² | 8.7 m · 2 |