COTIMA
Judicial reorganisationSummary
The file of COTIMA contains 1 judicial reorganisation, as published in the Belgian Official Gazette. During the judicial reorganisation Checked does not compute a bankruptcy probability from the figures: of the Belgian companies that opened one in 2023 and 2024, about one in four went bankrupt within twelve months. The 2025 annual accounts show equity of €37,596 and a net result of €35,611. Equity is shrinking by about 18% per year across the filed financial years. Its solvency ranks better than 16% of 2,318 sector peers (NACE 25, financial year 2025).
Are you a creditor?
Your claim still exists, but while the moratorium runs you cannot enforce it. What you do now depends on the track of the reorganisation.
The procedure
- Court
- Enterprise Court of Ghent
- Opened
- 31 October 2022
- Track
- Reorganisation by collective agreement
- Docket number
- 20220012
- Moratorium until
- 17 April 2023 (passed; an extension would be in a later judgment)
- Creditors' vote
- 3 April 2023
- Delegated judge
- Peter Focke
- Official Gazette
- 07-11-2022 (pdf) ↗search the document for 2022/140084
What to do now
- Do not attach assets or start enforcement for debts from before the opening while the moratorium runs.
- Check the amount the company lists you for: it has to tell you. If it is wrong, dispute it in writing.
- The company files a reorganisation plan and creditors vote on it at a hearing. A plan approved and confirmed by the court also binds those who voted against.
- What you deliver after the opening is not covered by the moratorium: agree clear payment terms.
- The file is in RegSol, where you can read the documents of the procedure.
Deadlines: the judgment sets how long the moratorium runs. That date is in RegSol and in the publication in the Official Gazette. The date of the vote on the plan is in the judgment and in RegSol.
General information, not legal advice. If in doubt, your lawyer or your accountant can help.Creditor guide for this company
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Overview
- Staff
- 1.3 FTE
- Equity
- €37,596
- Profit
- €35,611
Signalsraises riskWeak solvency vs sectorIn judicial reorganisationneutralLatest accounts filed on timeShow the evidence
Checked score
Judicial reorganisation
About 1 in 4 comparable companies went bankrupt within the year
A judicial reorganisation is open: we then compute no probability from the figures. Measured over every Belgian company in an open or failed reorganisation: 25% to 26% bankrupt within twelve months (2024 and 2025).
Signals
This company filed its last 7 accounts on average 16 days before the deadline; the sector median (NACE 25) for financial year 2024 is 7 days before the deadline, and 35% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Back to profitnet €35,611
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result returns to profit in 2025: €35,693 after a loss of €11,456 in 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 25, Manufacture of fabricated metal products, except machinery and equipment: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €280,041 | €262,765 | €433,471 | €215,879 | €528,432 | €214,289 | €183,669 | €343,069 | ▲ 86.8% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €173,471 | €317,083 | €257,981 | €134,741 | €261,700 | ▲ 94.2% |
| Remuneration, social security and pensions62 | - | - | - | €44,345 | €53,435 | €33,539 | €42,990 | €53,741 | ▲ 25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,634 | €14,480 | €15,029 | €16,742 | €3,053 | €5,488 | €7,555 | €8,698 | ▲ 15.1% |
| Other operating charges640/8 | - | - | - | €3,722 | €5,100 | €3,434 | €4,844 | €1,553 | ▼ 67.9% |
| Gross operating margin9900 | €55,342 | €73,572 | €49,862 | €59,640 | €196,140 | -€38,638 | €43,933 | €99,685 | ▲ 127% |
| Operating profit (loss)9901 | €31,581 | €32,102 | -€27,417 | -€5,169 | €134,552 | -€81,099 | -€11,456 | €35,693 | - |
| Financial income75/76B | - | - | - | €2,520 | €1,663 | €1,145 | €688 | €958 | ▲ 39.2% |
| Recurring financial income75 | €435 | €1,474 | €2,657 | €2,520 | €1,663 | €1,145 | €688 | €810 | ▲ 17.7% |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €148 | - |
| Financial charges65/66B | - | - | - | €1,188 | €114,044 | €365 | €938 | €1,040 | ▲ 10.9% |
| Recurring financial charges65 | €1,407 | €1,022 | €2,946 | €1,188 | €45,658 | €365 | €938 | €1,040 | ▲ 10.9% |
| Non-recurring financial charges66B | - | - | - | - | €68,386 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €30,609 | €32,554 | -€27,706 | -€3,837 | €22,171 | -€80,319 | -€11,706 | €35,611 | - |
| Income taxes67/77 | - | - | €4,500 | €3,886 | - | - | - | - | - |
| Profit (loss) for the period9904 | €30,609 | €32,554 | -€32,206 | -€7,723 | €22,171 | -€80,319 | -€11,706 | €35,611 | - |
| Profit (loss) for the period to be appropriated9905 | €30,609 | €32,554 | -€32,206 | -€7,723 | €22,171 | -€80,319 | -€11,706 | €35,611 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €422,058 | €373,861 | €379,539 | €359,472 | €403,152 | €336,275 | €291,791 | €344,592 | ▲ 18.1% |
| Fixed assets21/28 | €108,986 | €94,506 | €90,001 | €79,658 | €20,373 | €35,500 | €31,535 | €53,006 | ▲ 68.1% |
| Tangible fixed assets22/27 | €108,986 | €94,506 | €90,001 | €78,783 | €19,498 | €34,625 | €30,660 | €52,131 | ▲ 70.0% |
| Land and buildings22 | - | - | - | €68,386 | €9,700 | €16,426 | €18,019 | €19,870 | ▲ 10.3% |
| Plant, machinery and equipment23 | - | - | - | €10,397 | €9,798 | €18,199 | €12,641 | €7,530 | ▼ 40.4% |
| Furniture and vehicles24 | - | - | - | - | - | - | - | €24,731 | - |
| Financial fixed assets28 | - | - | - | €875 | €875 | €875 | €875 | €875 | = |
| Current assets29/58 | €313,072 | €279,355 | €289,538 | €279,814 | €382,779 | €300,775 | €260,256 | €291,586 | ▲ 12.0% |
| Stocks and contracts in progress3 | €55,133 | €75,275 | €93,960 | €119,528 | €112,289 | €80,124 | €75,677 | €76,546 | ▲ 1.1% |
| Stocks30/36 | - | - | - | €102,874 | €112,289 | €75,095 | €75,677 | €63,030 | ▼ 16.7% |
| Contracts in progress37 | - | - | - | €16,654 | - | €5,029 | - | €13,516 | - |
| Amounts receivable within one year40/41 | €233,938 | €170,636 | €178,643 | €138,812 | €205,864 | €152,376 | €126,203 | €159,035 | ▲ 26.0% |
| Trade receivables40 | - | - | - | €117,529 | €188,888 | €129,168 | €108,411 | €142,691 | ▲ 31.6% |
| Other amounts receivable41 | - | - | - | €21,283 | €16,976 | €23,208 | €17,792 | €16,344 | ▼ 8.1% |
| Cash at bank and in hand54/58 | €24,001 | €33,444 | €16,935 | €21,474 | €64,525 | €68,275 | €58,376 | €56,005 | ▼ 4.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | €101 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €422,058 | €373,861 | €379,539 | €359,472 | €403,152 | €336,275 | €291,791 | €344,592 | ▲ 18.1% |
| Equity10/15 | €82,241 | €114,363 | €81,724 | €73,569 | €95,307 | €14,556 | €2,418 | €37,596 | ▲ 16× |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €72,359 | €91,829 | €59,623 | €51,900 | €74,071 | €13,859 | €13,859 | €17,359 | ▲ 25.3% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | - | - | - | €12,000 | €12,000 | €12,000 | €12,000 | €12,000 | = |
| Distributable reserves133 | - | - | - | €38,041 | €60,212 | - | - | €3,500 | - |
| Profit (loss) carried forward14 | -€13,084 | - | - | - | - | -€20,107 | -€31,813 | €298 | - |
| Investment grants15 | - | - | - | €3,077 | €2,644 | €2,212 | €1,780 | €1,347 | ▼ 24.3% |
| Amounts payable17/49 | €339,817 | €259,498 | €297,815 | €285,903 | €307,845 | €321,719 | €289,373 | €306,996 | ▲ 6.1% |
| Amounts payable after more than one year17 | €23,186 | €15,588 | €7,860 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €316,631 | €243,910 | €289,955 | €285,903 | €307,589 | €321,719 | €289,373 | €306,996 | ▲ 6.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €198,885 | €68,112 | €68,112 | €68,112 | €68,112 | = |
| Financial debts43 | - | - | - | €25,786 | €9,119 | €8,150 | €6,541 | €918 | ▼ 86.0% |
| Credit institutions430/8 | - | - | - | €25,786 | €9,119 | €8,150 | €6,541 | €918 | ▼ 86.0% |
| Trade debts44 | €34,553 | €5,569 | €14,973 | €23,364 | €208,171 | €237,928 | €194,160 | €220,473 | ▲ 13.6% |
| Suppliers440/4 | - | - | - | €23,364 | €208,171 | €237,928 | €194,160 | €220,473 | ▲ 13.6% |
| Taxes, remuneration and social security45 | - | - | - | €11,784 | €10,755 | €6,682 | €7,838 | €10,957 | ▲ 39.8% |
| Taxes450/3 | - | - | - | €4,320 | €2,828 | €1,304 | €2,252 | €4,113 | ▲ 82.6% |
| Remuneration and social security454/9 | - | - | - | €7,464 | €7,927 | €5,378 | €5,586 | €6,844 | ▲ 22.5% |
| Other amounts payable47/48 | - | - | - | €26,084 | €11,432 | €847 | €12,722 | €6,536 | ▼ 48.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €256 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €30,609 | €32,554 | -€32,206 | -€7,723 | €22,171 | -€80,319 | -€11,706 | €35,611 | - |
| + Depreciation and write-downs630 | €14,634 | €14,480 | €15,029 | €16,742 | €3,053 | €5,488 | €7,555 | €8,698 | ▲ 15.1% |
| Operating cash flow (approximation) | €45,243 | €47,034 | -€17,177 | €9,019 | €25,224 | -€74,831 | -€4,151 | €44,309 | - |
| Investment in fixed assets (approximation) | - | €0 | -€10,524 | -€6,399 | €56,232 | -€20,615 | -€3,590 | -€30,169 | ▼ 740% |
| Change in cash | - | €9,443 | -€16,509 | €4,539 | €43,051 | €3,750 | -€9,899 | -€2,371 | ▲ 76.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00209285 |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00186390 |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00185023 |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00189733 |
| 31-12-2021 | micro format | 01-09-2022 | 2022-20390433 |
| 31-12-2020 | micro format | 27-08-2021 | 2021-55200215 |
| 31-12-2019 | micro format | 17-06-2020 | 2020-17900065 |
| 31-12-2018 | micro format | 17-09-2019 | 2019-64500500 |
| 31-12-2017 | micro format | 01-07-2018 | 2018-26900572 |
| 31-12-2016 | micro format | 21-06-2017 | 2017-19300422 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
History
Acts, filings and financial milestones
Show earlier events
About the unread acts
We know of 1 Belgian Official Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 46025B0182/00C000 | Flanders | 730 m² | 1 · 757 m² | 7.6 m · 2 |