Costhea
ActiveSummary
Costhea has been active since 1972 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €38,003 and a net result of €2,245. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 51% of 1535 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability53▲+51
Solvency57▲+2
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity tight (current ratio 1.43 against 1.34 in 2024; short-term debt: 66.9% and cash: 55.4% of total assets), and 67.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
32.2%
Return on assets
1.9%
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 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
56 d early
2023
27 d early
2022
6 d early
2021
6 d early
2020
2 d late
2019
61 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 8 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% 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 7 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€2,245
2024 · -€16,354
Working capital
€33,787▲ 18.0%
2024 · €28,630
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€45,600€22,922▼ 49.7%-€21,172-€14,924▲ 29.5%€3,694
Net result€44,289above the sector's middle half€20,806within the sector's middle half▼ 53.0%-€22,803below the sector's middle half-€16,354below the sector's middle half▲ 28.3%€2,245within the sector's middle half
Equity€54,109within the sector's middle half▲ 451%€74,915within the sector's middle half▲ 38.5%€52,112within the sector's middle half▼ 30.4%€35,758within the sector's middle half▼ 31.4%€38,003within the sector's middle half▲ 6.3%
Total assets€132,148within the sector's middle half▲ 54.0%€157,983within the sector's middle half▲ 19.5%€131,942within the sector's middle half▼ 16.5%€119,913within the sector's middle half▼ 9.1%€117,939within the sector's middle half▼ 1.6%
Debt€78,039▲ 2.7%€83,069▲ 6.4%€79,830▼ 3.9%€84,155▲ 5.4%€79,936▼ 5.0%
Working capital€49,011within the sector's middle half▲ 485%€70,257above the sector's middle half▲ 43.3%€47,895within the sector's middle half▼ 31.8%€28,630within the sector's middle half▼ 40.2%€33,787within the sector's middle half▲ 18.0%
Solvency40.9%within the sector's middle half▲ 29.5pp47.4%within the sector's middle half▲ 6.5pp39.5%within the sector's middle half▼ 7.9pp29.8%within the sector's middle half▼ 9.7pp32.2%within the sector's middle half▲ 2.4pp
Current ratio1.63within the sector's middle half▲ 0.521.85within the sector's middle half▲ 0.221.60within the sector's middle half▼ 0.251.34within the sector's middle half▼ 0.261.43within the sector's middle half▲ 0.09
Return on assets (ROA)33.5%above the sector's middle half▲ 43.1pp13.2%within the sector's middle half▼ 20.3pp-17.3%below the sector's middle half▼ 30.5pp-13.6%below the sector's middle half▲ 3.6pp1.9%within the sector's middle half▲ 15.5pp
Staff (FTE)1=1=1=1=1=
above
within
below
the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €3,694 after a loss of €14,924 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €117,939
Fixed assets
€5,196 ▼ 27.1%
Current assets
€112,743 =
Equity and liabilities €117,939
Equity
€38,003 ▲ 6.3%
Debt
€79,936 ▼ 5.0%
Debt's share of the balance-sheet total falls from 70.2% to 67.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5,626▲
2024 · -€13,359
Cash flow
€4,177▲
2024 · -€14,789
Quick ratio
1.38▲
2024 · 1.26
Debt to equity
2.10▼
2024 · 2.35
ROE
5.9%▲
2024 · -45.7%
Interest coverage
3.88▲
2024 · -9.25
Debt ≤ 1 year
€78,956▼
2024 · €84,155
Staff costs
€36,637▲
2024 · €32,599
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,027 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.7% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 17,027 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €5,613 | €27,629 | €28,348 | €32,599 | €36,637 | ▲ 12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €174 | €440 | €440 | €1,565 | €1,932 | ▲ 23.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €3,339 | €32,480 | -€11,417 | ▼ 135% |
| Other operating charges640/8 | €4,149 | €3,941 | €5,102 | €5,386 | €4,754 | ▼ 11.7% |
| Gross operating margin9900 | €55,537 | €54,932 | €16,057 | €57,106 | €35,600 | ▼ 37.7% |
| Operating profit (loss)9901 | €45,600 | €22,922 | -€21,172 | -€14,924 | €3,694 | ▲ 125% |
| Financial income75/76B | €4 | €18 | €11 | €13 | €0 | ▼ 99.3% |
| Recurring financial income75 | €4 | €18 | €11 | €13 | €0 | ▼ 99.3% |
| Financial charges65/66B | €1,315 | €2,135 | €1,642 | €1,444 | €1,449 | ▲ 0.3% |
| Recurring financial charges65 | €1,315 | €2,135 | €1,642 | €1,444 | €1,449 | ▲ 0.3% |
| Profit (loss) for the period before taxes9903 | €44,289 | €20,806 | -€22,803 | -€16,354 | €2,245 | ▲ 114% |
| Profit (loss) for the period9904 | €44,289 | €20,806 | -€22,803 | -€16,354 | €2,245 | ▲ 114% |
| Profit (loss) for the period to be appropriated9905 | €44,289 | €20,806 | -€22,803 | -€16,354 | €2,245 | ▲ 114% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €132,148 | €157,983 | €131,942 | €119,913 | €117,939 | ▼ 1.6% |
| Fixed assets21/28 | €5,098 | €4,658 | €4,217 | €7,128 | €5,196 | ▼ 27.1% |
| Tangible fixed assets22/27 | €2,028 | €1,588 | €1,148 | €4,058 | €2,126 | ▼ 47.6% |
| Plant, machinery and equipment23 | - | - | - | €3,351 | €1,859 | ▼ 44.5% |
| Furniture and vehicles24 | €2,028 | €1,588 | €1,148 | €707 | €267 | ▼ 62.3% |
| Financial fixed assets28 | €3,070 | €3,070 | €3,070 | €3,070 | €3,070 | = |
| Current assets29/58 | €127,050 | €153,326 | €127,725 | €112,785 | €112,743 | = |
| Stocks and contracts in progress3 | €6,036 | €4,426 | €2,366 | €6,413 | €3,520 | ▼ 45.1% |
| Stocks30/36 | €6,036 | €4,426 | €2,366 | €6,413 | €3,520 | ▼ 45.1% |
| Amounts receivable within one year40/41 | €42,314 | €48,468 | €39,325 | €45,744 | €42,691 | ▼ 6.7% |
| Trade receivables40 | €9,749 | €15,903 | €6,761 | €6,358 | €5,388 | ▼ 15.3% |
| Other amounts receivable41 | €32,565 | €32,565 | €32,565 | €39,386 | €37,303 | ▼ 5.3% |
| Cash at bank and in hand54/58 | €77,501 | €100,432 | €84,844 | €59,469 | €65,321 | ▲ 9.8% |
| Deferred charges and accrued income490/1 | €1,201 | - | €1,190 | €1,160 | €1,211 | ▲ 4.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €132,148 | €157,983 | €131,942 | €119,913 | €117,939 | ▼ 1.6% |
| Equity10/15 | €54,109 | €74,915 | €52,112 | €35,758 | €38,003 | ▲ 6.3% |
| Contributions10/11 | €35,000 | €35,000 | €35,000 | €35,000 | €35,000 | = |
| Reserves13 | €19,109 | €39,915 | €17,112 | €758 | €3,003 | ▲ 296% |
| Non-distributable reserves130/1 | €3,099 | €3,099 | - | - | - | - |
| Reserves not available under the articles1311 | €3,099 | €3,099 | - | - | - | - |
| Distributable reserves133 | €16,011 | €36,816 | €17,112 | €758 | €3,003 | ▲ 296% |
| Amounts payable17/49 | €78,039 | €83,069 | €79,830 | €84,155 | €79,936 | ▼ 5.0% |
| Amounts payable within one year42/48 | €78,039 | €83,069 | €79,830 | €84,155 | €78,956 | ▼ 6.2% |
| Current portion of amounts payable after more than one year42 | €1,864 | €2,500 | €2,500 | - | - | - |
| Trade debts44 | €2,085 | €1,157 | €4,911 | €7,515 | €7,934 | ▲ 5.6% |
| Suppliers440/4 | €2,085 | €1,157 | €4,911 | €7,515 | €7,934 | ▲ 5.6% |
| Taxes, remuneration and social security45 | €6,179 | €12,530 | €4,311 | €12,917 | €7,655 | ▼ 40.7% |
| Taxes450/3 | €4,302 | €7,058 | €2,346 | €8,614 | €2,942 | ▼ 65.8% |
| Remuneration and social security454/9 | €1,877 | €5,472 | €1,965 | €4,303 | €4,713 | ▲ 9.5% |
| Other amounts payable47/48 | €67,911 | €66,882 | €68,108 | €63,722 | €63,366 | ▼ 0.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €980 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,289 | €20,806 | -€22,803 | -€16,354 | €2,245 | ▲ 114% |
| + Depreciation and write-downs630 | €174 | €440 | €440 | €1,565 | €1,932 | ▲ 23.5% |
| Operating cash flow (approximation) | €44,463 | €21,246 | -€22,362 | -€14,789 | €4,177 | ▲ 128% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€4,475 | €0 | ▲ 100% |
| Change in cash | - | €22,931 | -€15,588 | -€25,376 | €5,852 | ▲ 123% |
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
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €2,245
Net result €2,245 after 2 loss-making years.
05-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€22,803
Net result drops to -€22,803, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €44,289
Net result €44,289 after 2 loss-making years.
02-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 2 days late
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 61 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 28 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 30 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 25 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Brussel · 1 establishment unit since 1972
Ground area
1,345 m²
Building footprint
417 m²
Volume, LiDAR
5,877 m³
Parcel 21812N0427/00K000, Brussels · tallest building 17.6 m, ±5 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
Baksteenkaai 22, 1000 Brussel
since 19722.007.397.083
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N0427/00K000 | Brussels | 1,345 m² | 1 · 417 m² | 17.6 m · 5 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.
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Of 174 companies in sector 77224 we hold annual accounts for 41. 32 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
Founded26-06-1972
Fiscal year end31-12
Activities, NACEBEL 2025
77224Rental and leasing activities
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0412533971
Also
9925:BE0412533971
Registered
03-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.