COGESFI
ActiveSummary
COGESFI has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €333k and a net result of €89k. Equity is growing by ~26.4% per year across the filed fiscal years. Its solvency ranks better than 61% of 12738 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability91▲+6
Solvency92▼-8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30k at 30 days acceptable
Liquidity ample (current ratio 4.58 against 4.07 in 2024; short-term debt: 13.3% and cash: 32.9% of total assets), and 33.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% 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
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
66.8%
Return on assets
17.9%
Age of the figures
18 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
2 d early
2023
32 d early
2022
on the day
2021
1 d late
2020
1 d late
2019
on the day
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close25-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, micro schema
Equity
€333k▲ 27.7%
2024 · €261k
2019: €82klowest in 7 years
2020: €108k▲ +32.2% vs 2019
2021: €148k▲ +36.7% vs 2020
2022: €211k▲ +43.0% vs 2021
2023: €266k▲ +26.2% vs 2022
2024: €261k▼ -2.1% vs 2023
2025: €333k▲ +27.7% vs 2024highest in 7 years
2019 → 2025
Total assets
€499k▲ 55.5%
2024 · €321k
2019: €187klowest in 7 years
2020: €232k▲ +24.0% vs 2019
2021: €248k▲ +6.9% vs 2020
2022: €289k▲ +16.6% vs 2021
2023: €319k▲ +10.5% vs 2022
2024: €321k▲ +0.5% vs 2023
2025: €499k▲ +55.5% vs 2024highest in 7 years
2019 → 2025
Net result
€89k▲ 119%
2024 · €41k
2019: €18klowest in 7 years
2020: €28k▲ +55.0% vs 2019
2021: €42k▲ +49.7% vs 2020
2022: €63k▲ +52.5% vs 2021
2023: €55k▼ -12.9% vs 2022
2024: €41k▼ -26.1% vs 2023
2025: €89k▲ +119% vs 2024highest in 7 years
2019 → 2025
Working capital
€237k▲ 91.4%
2024 · €124k
2019: €44k
2020: €41k▼ -8.8% vs 2019lowest in 7 years
2021: €61k▲ +50.4% vs 2020
2022: €105k▲ +72.6% vs 2021
2023: €143k▲ +35.7% vs 2022
2024: €124k▼ -13.3% vs 2023
2025: €237k▲ +91.4% vs 2024highest in 7 years
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€148k-€211k▲ 43.0%€266k▲ 26.2%€261k▼ 2.1%€333k▲ 27.7%
2021: €148klowest in 5 years
2022: €211k▲ +43.0% vs 2021
2023: €266k▲ +26.2% vs 2022
2024: €261k▼ -2.1% vs 2023
2025: €333k▲ +27.7% vs 2024highest in 5 years
Operating result€49k-€76k▲ 57.3%€79k▲ 4.1%€58k▼ 26.8%€67k▲ 15.7%
2021: €49klowest in 5 years
2022: €76k▲ +57.3% vs 2021
2023: €79k▲ +4.1% vs 2022highest in 5 years
2024: €58k▼ -26.8% vs 2023
2025: €67k▲ +15.7% vs 2024
Net result€42k-€63k▲ 52.5%€55k▼ 12.9%€41k▼ 26.1%€89k▲ 119%
2021: €42k
2022: €63k▲ +52.5% vs 2021
2023: €55k▼ -12.9% vs 2022
2024: €41k▼ -26.1% vs 2023lowest in 5 years
2025: €89k▲ +119% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 16% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €499k
Fixed assets
€195k ▲ 24.8%
Current assets
€303k ▲ 84.7%
Equity and liabilities €499k
Equity
€333k ▲ 27.7%
Debt
€166k ▲ 176%
Debt's share of the balance-sheet total rises from 18.7% to 33.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€100k▲
2024 · €66k
Cash flow
€122k▲
2024 · €49k
Current ratio
4.58▲
2024 · 4.07
Debt to equity
0.50▲
2024 · 0.23
ROE
26.8%▲
2024 · 15.7%
ROA
17.9%▲
2024 · 12.7%
Interest coverage
18.23▼
2024 · 32.59
Debt ≤ 1 year
€66k▲
2024 · €40k
Debt > 1 year
€100k▲
2024 · €20k
Income taxes
€23k▲
2024 · €16k
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 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€321k€499k▲
Fixed assets21/28€157k€195k▲
Tangible fixed assets22/27€51k€195k▲
Land and buildings22€12k€164k▲
Plant, machinery and equipment23€2k€2k▲
Furniture and vehicles24€360€835▲
Leasing and similar rights25€37k€29k▼
Other tangible fixed assets26€128-
Financial fixed assets28€105k-
Current assets29/58€164k€303k▲
Amounts receivable after more than one year29€500-
Other amounts receivable291€500-
Amounts receivable within one year40/41€59k€93k▲
Trade receivables40€58k€53k▼
Other amounts receivable41€810€40k▲
Current investments50/53-€45k
Cash at bank and in hand54/58€104k€164k▲
Deferred charges and accrued income490/1€1k€919▼
Equity and liabilities
Total equity and liabilities10/49€321k€499k▲
Equity10/15€261k€333k▲
Contributions10/11€8k€8k=
Reserves13€252k€325k▲
Distributable reserves133€252k€325k▲
Profit (loss) carried forward14€156€165▲
Amounts payable17/49€60k€166k▲
Amounts payable after more than one year17€20k€100k▲
Financial debts170/4€20k€100k▲
Amounts payable within one year42/48€40k€66k▲
Current portion of amounts payable after more than one year42€10k€17k▲
Trade debts44€2k€3k▲
Suppliers440/4€2k€3k▲
Taxes, remuneration and social security45€12k€21k▲
Taxes450/3€12k€21k▲
Other amounts payable47/48€17k€24k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€32k▲
Other operating charges640/8€4k€2k▼
Gross operating margin9900€70k€102k▲
Operating profit (loss)9901€58k€67k▲
Financial income75/76B€240€51k▲
Recurring financial income75€240€51k▲
Financial charges65/66B€2k€5k▲
Recurring financial charges65€2k€5k▲
Profit (loss) for the period before taxes9903€56k€112k▲
Income taxes67/77€16k€23k▲
Profit (loss) for the period9904€41k€89k▲
Profit (loss) for the period to be appropriated9905€41k€89k▲
Appropriation of the result
Profit (loss) to be appropriated9906€41k€90k▲
Profit (loss) brought forward from the previous period14P€142€156▲
Transfer from equity791/2€46k€17k▼
Transfer to equity691/2€41k€89k▲
To other reserves6921€41k€89k▲
Profit to be distributed694/7€46k€17k▼
Return on contributions (dividend)694€46k€17k▼
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7k | €7k | €7k | €8k | €32k | ▲ 303% |
| Other operating charges640/8 | - | €1k | €935 | €4k | €2k | ▼ 39.3% |
| Gross operating margin9900 | €57k | €84k | €87k | €70k | €102k | ▲ 45.9% |
| Operating profit (loss)9901 | €49k | €76k | €79k | €58k | €67k | ▲ 15.7% |
| Financial income75/76B | - | €12k | €77 | €240 | €51k | ▲ 20,973% |
| Recurring financial income75 | €12k | €12k | €77 | €240 | €51k | ▲ 20,973% |
| Financial charges65/66B | - | €884 | €638 | €2k | €5k | ▲ 169% |
| Recurring financial charges65 | €933 | €884 | €638 | €2k | €5k | ▲ 169% |
| Profit (loss) for the period before taxes9903 | €59k | €87k | €79k | €56k | €112k | ▲ 99.5% |
| Income taxes67/77 | €18k | €24k | €24k | €16k | €23k | ▲ 48.6% |
| Profit (loss) for the period9904 | €42k | €63k | €55k | €41k | €89k | ▲ 119% |
| Profit (loss) for the period to be appropriated9905 | €42k | €63k | €55k | €41k | €89k | ▲ 119% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €248k | €289k | €319k | €321k | €499k | ▲ 55.5% |
| Fixed assets21/28 | €138k | €131k | €125k | €157k | €195k | ▲ 24.8% |
| Tangible fixed assets22/27 | €33k | €26k | €19k | €51k | €195k | ▲ 280% |
| Land and buildings22 | - | €12k | €12k | €12k | €164k | ▲ 1,265% |
| Plant, machinery and equipment23 | - | €505 | €726 | €2k | €2k | ▲ 17.3% |
| Furniture and vehicles24 | - | €13k | €6k | €360 | €835 | ▲ 132% |
| Leasing and similar rights25 | - | - | - | €37k | €29k | ▼ 23.0% |
| Other tangible fixed assets26 | - | €385 | €256 | €128 | - | - |
| Financial fixed assets28 | €105k | €105k | €105k | €105k | - | - |
| Current assets29/58 | €110k | €158k | €195k | €164k | €303k | ▲ 84.7% |
| Amounts receivable after more than one year29 | - | €4k | €2k | €500 | - | - |
| Other amounts receivable291 | - | €4k | €2k | €500 | - | - |
| Amounts receivable within one year40/41 | €40k | €79k | €60k | €59k | €93k | ▲ 57.7% |
| Trade receivables40 | - | €75k | €58k | €58k | €53k | ▼ 8.4% |
| Other amounts receivable41 | - | €5k | €2k | €810 | €40k | ▲ 4,802% |
| Current investments50/53 | - | - | - | - | €45k | - |
| Cash at bank and in hand54/58 | €63k | €74k | €132k | €104k | €164k | ▲ 58.3% |
| Deferred charges and accrued income490/1 | - | €1k | €1k | €1k | €919 | ▼ 12.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €248k | €289k | €319k | €321k | €499k | ▲ 55.5% |
| Equity10/15 | €148k | €211k | €266k | €261k | €333k | ▲ 27.7% |
| Contributions10/11 | - | €6k | €6k | €8k | €8k | = |
| Reserves13 | €141k | €205k | €260k | €252k | €325k | ▲ 28.6% |
| Non-distributable reserves130/1 | - | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | - | €2k | €2k | - | - | - |
| Distributable reserves133 | - | €203k | €258k | €252k | €325k | ▲ 28.6% |
| Profit (loss) carried forward14 | €41 | €92 | €142 | €156 | €165 | ▲ 5.4% |
| Amounts payable17/49 | €100k | €78k | €53k | €60k | €166k | ▲ 176% |
| Amounts payable after more than one year17 | €51k | €25k | €1k | €20k | €100k | ▲ 403% |
| Financial debts170/4 | - | €25k | €1k | €20k | €100k | ▲ 403% |
| Amounts payable within one year42/48 | €49k | €53k | €52k | €40k | €66k | ▲ 64.2% |
| Current portion of amounts payable after more than one year42 | - | €26k | €24k | €10k | €17k | ▲ 81.8% |
| Trade debts44 | €830 | €1k | €3k | €2k | €3k | ▲ 60.1% |
| Suppliers440/4 | - | €1k | €3k | €2k | €3k | ▲ 60.1% |
| Taxes, remuneration and social security45 | - | €17k | €23k | €12k | €21k | ▲ 86.1% |
| Taxes450/3 | - | €17k | €23k | €12k | €21k | ▲ 86.1% |
| Other amounts payable47/48 | - | €9k | €3k | €17k | €24k | ▲ 40.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42k | €63k | €55k | €41k | €89k | ▲ 119% |
| + Depreciation and write-downs630 | €7k | €7k | €7k | €8k | €32k | ▲ 303% |
| Operating cash flow (approximation) | €49k | €70k | €62k | €49k | €122k | ▲ 149% |
| Investment in fixed assets (approximation) | - | €0 | €-460 | €-40k | €-71k | ▼ 78.4% |
| Change in cash | - | €10k | €58k | €-28k | €60k | ▲ 315% |
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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Highest result since 2019net €89k ▲119%
Net result €89k, the highest in the series.
2024
29-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Equity above €200kEq €211k ▲43%
4 profitable years in a row build equity to €211k.
2021
01-11
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 1 day late
2020
01-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 1 day late
31-03
Financial
Equity above €100kEq €108k ▲32.2%
2 profitable years in a row build equity to €108k.
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
30-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
30-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
31-10
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
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.
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Directors · office · real estate
Directors
4 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, Waimes · 1 establishment unit since 2010
Ground area
1,256 m²
Parcel 63552C0014/00L000, Wallonia. Linked by address, not a title deed.
1 establishment unit
COGESFI
since 20102.189.372.845
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63552C0014/00L000 | Wallonia | 1,256 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 12,173 companies in sector 69201 we hold annual accounts for 7,638. 5,980 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
Founded23-06-2010
Fiscal year end31-03
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
Scores and ratios are computed by Checked and are not a credit decision.