COTELCO
InactiveOverview
Overview
Official details
Source: KBO- Status
- Inactive deed of incorporation of 24-10-1998 · last publication under the heading End on 21-10-2022
- Activity
- No activity registered in the KBO
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Board and ownership
Board
- MORTIER JeroenDirector
- VANDERHEEREN CarolineDirector
- Holdings
- Shares in 1 company DRONE DIVISION
Financial position
No score
Annual accounts 2021
- Gross margin
- -€2,834
- ▲ 63.0%
- Loss
- €7,903
- ▼ 60.5%
- Equity
- -€11,261
- ▼ 235%
- Total assets
- €43,783
- ▼ 12.5%
Turnover not published (micro format)
Filed on 29-07-2022
Financials
Financials · financial year 2021, micro format
Annual accounts 2021 filed on 29-07-2022 PDF all 23 filings
Equity
-€11,261▼ 235%
2020 · -€3,358
Total assets
€43,783▼ 12.5%
2020 · €50,018
Net result
-€7,903▲ 60.5%
2020 · -€20,009
Working capital
-€21,917▼ 8.1%
2020 · -€20,276
Trend over the years
2018 to 2021, 4 financial years 2018 to 2021, 4 financial years
The operating result for 2021 is a loss of €9,555, smaller than the loss of €17,806 in 2020.
Operating result-€9,555
2021
Net result-€7,903
2021
Total assets€43,783
2021
Equity-€11,261
2021
Debt€55,044
2021
Working capital-€21,917
2021
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021
Operating result€2,396--€8,195-€17,806▼ 117%-€9,555▲ 46.3%
Net result-€353--€12,720▼ 3,506%-€20,009▼ 57.3%-€7,903▲ 60.5%
Equity€29,370-€16,651▼ 43.3%-€3,358-€11,261▼ 235%
Total assets€171,033-€123,354▼ 27.9%€50,018▼ 59.5%€43,783▼ 12.5%
Debt€141,663-€106,704▼ 24.7%€53,376▼ 50.0%€55,044▲ 3.1%
Working capital-€6,634-€14,764-€20,276-€21,917▼ 8.1%
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €43,783
Fixed assets
€10,656 ▼ 37.0%
Current assets
€33,127 ▲ 0.1%
Equity and liabilities
Equity-€11,261
Debt€55,044
Equity is negative. Debt (€55,044) exceeds the balance-sheet total (€43,783).
Key figures and ratios
EBITDA
-€3,292▲
2020 · -€11,033
Cash flow
-€1,641▲
2020 · -€13,236
Solvency
-25.7%▼
2020 · -6.7%
Current ratio
0.60▼
2020 · 0.62
ROA
-18.1%▲
2020 · -40.0%
Interest coverage
-14.98
Debt ≤ 1 year
€55,044▲
2020 · €53,376
Income taxes
€109▼
2020 · €254
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,690 | €16,282 | €6,773 | €6,262 | ▼ 7.5% |
| Other operating charges640/8 | - | - | - | €459 | - |
| Gross operating margin9900 | €35,412 | €9,412 | -€7,659 | -€2,834 | ▲ 63.0% |
| Operating profit (loss)9901 | €2,396 | -€8,195 | -€17,806 | -€9,555 | ▲ 46.3% |
| Financial income75/76B | - | - | - | €1,980 | - |
| Recurring financial income75 | €8 | €1 | €1 | €1,980 | ▲ 1,850× |
| Financial charges65/66B | - | - | - | €220 | - |
| Recurring financial charges65 | €2,289 | €2,719 | €1,950 | €220 | ▼ 88.7% |
| Profit (loss) for the period before taxes9903 | €116 | -€10,914 | -€19,754 | -€7,795 | ▲ 60.5% |
| Income taxes67/77 | €469 | €1,806 | €254 | €109 | ▼ 57.4% |
| Profit (loss) for the period9904 | -€353 | -€12,720 | -€20,009 | -€7,903 | ▲ 60.5% |
| Profit (loss) for the period to be appropriated9905 | -€353 | -€12,720 | -€20,009 | -€7,903 | ▲ 60.5% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €171,033 | €123,354 | €50,018 | €43,783 | ▼ 12.5% |
| Fixed assets21/28 | €93,958 | €50,334 | €16,918 | €10,656 | ▼ 37.0% |
| Tangible fixed assets22/27 | €90,858 | €40,334 | €14,918 | €8,656 | ▼ 42.0% |
| Other tangible fixed assets26 | - | - | - | €8,656 | - |
| Financial fixed assets28 | €3,100 | €10,000 | €2,000 | €2,000 | = |
| Current assets29/58 | €77,075 | €73,020 | €33,100 | €33,127 | ▲ 0.1% |
| Amounts receivable after more than one year29 | - | - | - | €23,100 | - |
| Other amounts receivable291 | - | - | - | €23,100 | - |
| Amounts receivable within one year40/41 | €62,549 | €6,068 | €301 | €389 | ▲ 29.1% |
| Other amounts receivable41 | - | - | - | €389 | - |
| Cash at bank and in hand54/58 | €13,264 | €43,129 | €9,699 | €7,658 | ▼ 21.0% |
| Deferred charges and accrued income490/1 | - | - | - | €1,980 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €171,033 | €123,354 | €50,018 | €43,783 | ▼ 12.5% |
| Equity10/15 | €29,370 | €16,651 | -€3,358 | -€11,261 | ▼ 235% |
| Contributions10/11 | €6,205 | €6,205 | - | €6,205 | - |
| Reserves13 | €60,849 | €60,849 | €60,849 | €60,849 | = |
| Non-distributable reserves130/1 | - | - | - | €13,649 | - |
| Reserves not available under the articles1311 | - | - | - | €13,649 | - |
| Distributable reserves133 | - | - | - | €47,200 | - |
| Profit (loss) carried forward14 | -€37,684 | -€50,404 | -€70,412 | -€78,315 | ▼ 11.2% |
| Amounts payable17/49 | €141,663 | €106,704 | €53,376 | €55,044 | ▲ 3.1% |
| Amounts payable after more than one year17 | €57,507 | €48,447 | - | - | - |
| Amounts payable within one year42/48 | €83,709 | €58,256 | €53,376 | €55,044 | ▲ 3.1% |
| Trade debts44 | €3,248 | €2,298 | €169 | €2,241 | ▲ 13× |
| Suppliers440/4 | - | - | - | €2,241 | - |
| Taxes, remuneration and social security45 | - | - | - | €109 | - |
| Taxes450/3 | - | - | - | €109 | - |
| Other amounts payable47/48 | - | - | - | €52,695 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€353 | -€12,720 | -€20,009 | -€7,903 | ▲ 60.5% |
| + Depreciation and write-downs630 | €20,690 | €16,282 | €6,773 | €6,262 | ▼ 7.5% |
| Operating cash flow (approximation) | €20,337 | €3,562 | -€13,236 | -€1,641 | ▲ 87.6% |
| Investment in fixed assets (approximation) | - | €27,342 | €26,643 | €0 | ▼ 100% |
| Change in cash | - | €29,864 | -€33,430 | -€2,040 | ▲ 93.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2021 | micro format | 29-07-2022 | 2022-20243223 | |
| 31-12-2020 | micro format | 11-08-2021 | 2021-48200081 | |
| 31-12-2019 | micro format | 24-08-2020 | 2020-44000232 | |
| 31-12-2018 | micro format | 14-08-2019 | 2019-46500578 | |
| 31-12-2017 | micro format | 28-06-2018 | 2018-25200466 | |
| 31-12-2016 | micro format | 27-09-2017 | 2017-65100382 | |
| 31-12-2015 | abbreviated format | 22-09-2016 | 2016-62100046 | |
| 31-12-2014 | abbreviated format | 31-08-2015 | 2015-56800437 | |
| 31-12-2013 | abbreviated format | 19-08-2014 | 2014-44000182 | |
| 31-12-2012 | abbreviated format | 16-07-2013 | 2013-31100575 |
Board & ownership
Directors
Directors
2 directors, last change in 2022
MORTIER Jeroen
Current
Director (not named in the articles) · appointed in the act of 21-10-2022 · term without a fixed end · listed in the 2021 annual accounts, filed on 29-07-2022
VANDERHEEREN Caroline
Current
Director (not named in the articles) · appointed in the act of 21-10-2022 · term without a fixed end · listed in the 2021 annual accounts, filed on 29-07-2022
Owners and capital
Owners
Mandate history
2 people, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| MORTIER Jeroen |
|
| VANDERHEEREN Caroline |
|
Network & group
Holdings and subsidiaries
1 holdingHoldings 1
- Sourceown accounts 2021Equity €99,347 Loss of €148,146 in 2023 (profit of €165,833 in 2022)10%
Connections & network
2 current directorsThe network starts from the directors of COTELCO. Every other company they run is a node.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Timeline
Acts, filings and financial milestones
2022
21-10
Gazette deed
Dissolution with immediate closure of the liquidationAppointments: MORTIER Jeroen (director) and VANDERHEEREN Caroline (director) · Permanent representative: POUSEELE Bruno · Resignations: MORTIER Jeroen (director) and VANDERHEEREN Caroline (director)27 points ▸
Gazette deed
Dissolution with immediate closure of the liquidation
Appointments: MORTIER Jeroen (director) and VANDERHEEREN Caroline (director) · Permanent representative: POUSEELE Bruno · Resignations: MORTIER Jeroen (director) and VANDERHEEREN Caroline (director)27 points ▸
- Director appointment, MORTIER Jeroen (director (not named in the articles))
- Director appointment, VANDERHEEREN Caroline (director (not named in the articles))
- Other provision, “vervanging term zaakvoerder door bestuurder, Wetboek van vennootschappen en verenigingen” (deed in Dutch)
- General meeting, 30-09-2022
- Other provision, “voorzitter, vrijstelling voorlezing verslagen” (deed in Dutch)
- Net-asset statement, EUR, “ontbinding” (deed in Dutch)
- Auditor report, “discontinuïteit”, EUR (deed in Dutch)
- Permanent representative, POUSEELE Bruno
- Other provision, “geen opmerkingen op verslagen” (deed in Dutch)
- Approval, “aansluiting bij conclusies verslagen, enige twee aandeelhouders” (deed in Dutch)
- Other provision, “bevestiging bestaan en externe wettigheid rechtshandelingen en formaliteiten vereffeningstelling, artikel 2:71 §6 Wetboek van vennootschappen en verenigingen” (deed in Dutch)
- Other provision, “geen overeenkomsten tegen vereffening of met bijzondere ontbindingsvoorwaarden” (deed in Dutch)
- The act holds 15 more points.
29-07
micro format · 2 days before the deadline
2021
11-08
micro format · 11 days late
2020
31-12
Financial
Weakest financial yearnet -€20,009
The net result drops to -€20,009, the lowest from 2018 to 2021.
24-08
micro format · 24 days late
2019
14-08
micro format · 14 days late
2018
28-06
micro format · 33 days before the deadline
2017
27-09
micro format · 58 days late
2016
22-09
abbreviated format · 53 days late
2015
31-08
abbreviated format · 31 days late
2014
19-08
abbreviated format · 19 days late
2013
16-07
abbreviated format · 15 days before the deadline
1998
24-10
Gazette deed
Incorporation
16 publications in the Belgian Official Gazette, the last on 21-10-2022
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Inactive
Inactive
COTELCO is no longer in the KBO register.
- Status
- Inactive
- Last annual accounts
- financial year to 31 December 2021
- Last registered office
- Katanjestraat 8, 8710 Wielsbekeas published on 21 October 2022
- Legal form
- Private limited company (pre-2019)
- First annual accounts
- financial year 1999