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COTITEX

Active Public limited companyfounded 2001active for 25 yearsLouizalaan 221, 1050 BrusselsKBO/BCE: BE 0473.839.456 subsidiary of K FINANCE COORDINATION & SERVICES
COTITEX
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Overview

Lifetime

20 annual accounts with figures on one time axis, 25 filings since 2001
peak €19.7m (2022)
€13.8m▼ 6.3%
peak €2.0m (2021)
€783,497▼ 18.2%
peak €5.0m (2024)
€5.0m▼ 0.3%
€4.3m▼ 1.7%
peak 3.1 FTE (2017)
2 FTEunchanged
Board5 names since 2017
1 directorKANDIYOTI Claude
Owners2 names in the annual accounts
75%K FINANCE COORDINATION & SERVICES and 1 other
Documentsfilings and deeds
12-06-202649 days before the deadline
2025financial year
Dividend €800,000Cash from €887,922 to €301,866

Key points

from the 2025 annual accounts

Equity

€5.0m ▼ 0.3%
5.02024+0.8Profit-0.8Dividend5.02025

COTITEX paid out €800,000 in dividends. That is 102% of the 2025 profit.

Payment terms

47 days to suppliers
Suppliers
63 to 47
Customers
79 to 118

COTITEX pays its suppliers 16 days earlier than in 2024. Customers pay 39 days later.

Checked score

93
Excellent
Financially stronger than 43% of micro companies in wholesale trade (NACE 46)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.4% across 26,891 companies (NACE 46, micro).

About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.1% 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025highest value 06-2025: 0.1%● unchanged vs 05-2025 07-2025: < 0.1%▼ -0.1 percentage points vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026lowest value 04-2026: 0.1%▲ +0.1 percentage points vs 03-2026 05-2026: 0.1%● unchanged vs 04-2026 06-2026: 0.1%● unchanged vs 05-2026 07-2026: 0.1%● unchanged vs 06-2026 08-2026: 0.1%● unchanged vs 07-2026 09-2026: 0.1%● unchanged vs 08-2026 10-2026: 0.1%● unchanged vs 09-2026 11-2026: 0.1%● unchanged vs 10-2026

Financial strength
Average

79=equity 53.9% of total assets
32-7short-term debt 46.1% · cash 3.3%
59-4return on assets 8.4%

Score breakdown

raises risk
Liquidity: current ratio 2.17, cash €301,866, halved
lowers risk
Founded in 2001
Size: turnover €13.8m, 2 FTE, total assets €9.3m
Equity €5.0m (53.9% of total assets)
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 46, micro). It does better than 61% of them on solvency, 29% on liquidity, 44% on profitability and 39% on growth.

The bankruptcy probability was computed on 09-11-2026 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.

The probability rests on the annual accounts with balance sheet date 31-12-2025.

Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.

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).

Comparable companies, two years later

In July 2024, 31,368 companies had the same profile as COTITEX has now. Each dot stands for 79 companies, two years later.

93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
  • Micro
  • 20 years or older
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more

Another 0.1% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of COTITEX itself: 0.1% within 12 months.

Test of the method

The method was tested on the 497,447 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 31,368 companies, not a prediction for COTITEX. 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.

Credit verdict

Credit of up to €460,000 on 30-day terms is acceptable

Liquidity is ample, with a current ratio of 2.17 (2.17 in 2024), above the usual 1.5. Short-term debt is 46.1% and cash 3.3% of total assets. 46.1% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Five signals.
lowers riskraises riskneutral
lowers risk · Founded in 2001
Companies that have existed this long fail less often. How much that weighs depends on the rest of the company's profile.
KBO
lowers risk · Size: turnover €13.8m, 2 FTE, total assets €9.3m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
raises risk · Liquidity: current ratio 2.17, cash €301,866, halved
NBB · annual accounts
lowers risk · Equity €5.0m (53.9% of total assets)
NBB · annual accounts
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 12-06-2026, 49 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
49 days early
2024
42 days early
2023
49 days early
2022
45 days early
2021
32 days early
2020
23 days early
2019
53 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 42 days before the deadline. In the sector (NACE 46), the median for financial year 2024 was 3 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 16 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

KI
KANDIYOTI Igal
Managing director
KR
KANDIYOTI Ralfi
Managing director
VD
VAN DER CRUYSSEN Rony
Managing director
KC
KANDIYOTI Claude
Director, since 22-05-2020
SM
SRL Michel Weber, Réviseur d'Entreprise
Auditor, Michel Weber
Board & ownership

Recent changes

Reappointment: SRL Michel Weber, Réviseur d'Entreprise (statutory auditor) General meeting of 21-05-2026 · Gazette deed
Registered in the Peppol Directory Reachable for e-invoices through 0208:0473839456
1 statutory auditor reappointed, 4 directors reappointed Michel Weber (statutory auditor), KANDIYOTI Igal (managing director), KANDIYOTI Ralfi (managing director), VAN DER CRUYSSEN Rony (managing director) and KANDIYOTI Claude · General meeting of 19-05-2023 · Gazette deed
Capital increase of €278,040 to €340,040 Capital from €62,000 to €340,040, 56 new shares · Contributions: K FINANCE COORDINATION & SERVICES (€208,350, 42 shares); DERVARO (€69,510, 14 shares) · General meeting of 10-12-2020 · Gazette deed
All 39 events

Comparable companies

same main activity, similar in size and age
Company
COTITEX Brussels €13.8m 8.6% 53.9% 2
BELIMTEX Waregem €29.4m 3.7% 5.8% 1
WITRADE Ronse €15.8m 4.5% 53.5% 4.2
TWEEDS & COTTONS Bruges - - 35.4% 2
C-Supply Temse €3.6m -6.5% 51.7% 7
UTEXBEL YARNS Ronse €5.0m 4.5% 43.5% -
UNY GROUP Mouscron €21.0m 7.9% 16.3% 5.6
-10%0%10%20%€5m€50m€500m€5bnCOTITEXEBIT margin

Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.

These companies have the same main activity as COTITEX: agents in the wholesale of textiles, clothing, fur, footwear and leather goods (NACE 46160). They are comparable in size and age: total assets between €3.7m and €37m, founded between 1999 and 2013.

Official details

Source: KBO
Status
Active since 30-01-2001Normal situation
Registered office
45 active companies are registered at this addressSource: KBO register, as of 10 November 2026.
Activity
Agents in the wholesale of textiles, clothing, fur, footwear and leather goodsNACE 46160
Joint committee
226White-collar workers in international trade, transport and logistics · annual accounts 2024
Establishment unit
2.094.628.2921050 Brussels, since 03-04-2002
Financial year end
31 December
Peppol
Reachable since 18-12-2025
Company details

Annual accounts 2025

€13.8m▼ 6.3%
€783,497▼ 18.2%
€5.0m▼ 0.3%
€9.3m▼ 0.9%
Employeeson 31-12-2025
2=
Filing
Filed on 12-06-2026, 49 days before the end of the filing period
Financials

Insights on COTITEX

COTITEX has existed since 2001. In 2007 turnover rose from €2.6m to €6.1m.

K FINANCE COORDINATION & SERVICES holds 75% of the shares.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

full format, filed on 12-06-2026, 49 days before the deadline
€13.8m
▼ 6.3%
€1.2m
▼ 18.6%
-
-
53.9%
▲ 0.3 percentage points
2.17
▼ 0.00

Money flows

of every €100 of turnover, €5.68 remains as profit in 2025

Balance sheet

balance sheet total €9.3m on 31-12-2025
What the company ownsHow it is paid for

in €m

in euro

Position in the sector

Compare with sector

53.9%

Higher than 60% of 6,192 companies in 2025.

2.17

Higher than 61% of 6,112 companies in 2025.

8.4%

Higher than 74% of 6,176 companies in 2025.

COTITEX Middle half of the sector 80% of the sector Full accounts in wholesale trade (NACE 46)

Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: top quarter · Staff: bottom quarter

Staff

Men and women

Not in that year's accounts.

€111,598

Staff costs divided by the average number of full-time equivalents.

people who joined people who left

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 9.3m9.4m10.1m11.2m13.3m6.4m6.9m6.4m5.1m6.1m5.2m6.2m3.0m2.5m2.7m1.5m1.3m2.0m4.0m2.7m
21/28 16616616616616616616616616616616623,0051667,1154,9453,82110,77010,77710,59346,492
22/27 -----------22,839-----1489281,709
24 -----------22,839-----1489281,709
28 1661661661661661661661661661661661661667,1154,9453,82110,77010,6299,66444,783
284/8 1661661661661661661661661661661661661667,1154,9453,82110,77010,6299,66444,783
285/8 1661661661661661661661661661661661661667,1154,9453,82110,77010,6299,66444,783
29/58 9.3m9.4m10.1m11.2m13.3m6.4m6.9m6.4m5.1m6.1m5.2m6.2m3.0m2.5m2.7m1.5m1.3m2.0m3.9m2.6m
3 4.3m3.8m3.9m6.2m8.3m3.8m4.5m2.6m2.7m2.9m2.5m3.8m1.6m1.2m703,870210,119527,248541,6131.8m923,453
30/36 4.3m3.8m3.9m6.2m8.3m3.8m4.5m2.6m2.7m2.9m2.5m3.8m1.6m1.2m703,870210,119527,248541,6131.8m923,453
34 4.3m3.8m3.9m6.2m8.3m3.8m4.5m2.6m2.7m2.9m2.5m3.8m1.6m1.2m703,870210,119527,248541,6131.8m923,453
40/41 4.6m3.3m4.3m4.3m4.6m2.4m2.3m3.5m2.4m2.8m2.4m2.2m1.2m1.1m1.4m514,027512,6541.4m1.6m1.2m
40 4.4m3.2m4.3m4.0m4.5m2.2m2.1m3.2m2.2m2.5m2.1m1.7m998,046982,0851.2m471,345480,5841.2m1.5m958,460
41 193,266103,34980,295284,90794,548209,230255,496294,921240,341270,254338,693482,890157,433127,995253,75942,68232,071263,63680,316273,983
50/53 -1.4m1.5m-------112113--------
51/53 -1.4m1.5m-------112113--------
54/58 301,866887,922337,983772,225509,437255,683115,494239,33981,336441,116259,261193,870278,668149,869527,823737,730248,93262,761620,181462,675
490/1 -1,3533,030-83---500-310225052,8951,6583053045474,041929
Balance sheet: equity and liabilities
10/49 9.3m9.4m10.1m11.2m13.3m6.4m6.9m6.4m5.1m6.1m5.2m6.2m3.0m2.5m2.7m1.5m1.3m2.0m4.0m2.7m
10/15 5.0m5.0m4.9m4.6m4.8m3.2m2.8m2.4m2.3m1.9m1.7m1.5m1.3m1.2m1.1m938,377859,527696,161594,289262,717
10/11 340,040340,040340,040340,040340,040340,04062,00062,00062,00062,00062,00062,00062,00062,00062,00062,00062,00062,00062,00062,000
10 340,040340,040340,040340,040340,040---------------
100 340,040340,040340,040340,040340,040340,04062,00062,00062,00062,00062,00062,00062,00062,00062,00062,00062,00062,00062,00062,000
13 1.1m1.1m1.1m1.1m1.1m328,690287,4406,2006,2006,2006,2006,2006,2006,8076,8076,2006,2006,20018,70018,700
130/1 34,00434,00434,00434,00434,00434,004--------------
130 34,00434,00434,00434,00434,00434,0046,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,200
132 13,446745,9861.0m1.0m1.0m294,686281,240------607607---12,50012,500
133 1.0m281,240------------------
14 3.6m3.6m3.5m3.2m3.4m2.5m2.5m2.3m2.3m1.9m1.6m1.5m1.3m1.2m1.0m870,177791,327627,961513,589182,017
17/49 4.3m4.4m5.2m6.6m8.5m3.3m4.1m4.0m2.8m4.2m3.5m4.6m1.7m1.3m1.5m527,626440,3811.3m3.4m2.4m
42/48 4.3m4.3m5.2m6.6m8.5m3.3m4.1m4.0m2.8m4.2m3.5m4.6m1.6m1.3m1.5m524,045436,9091.3m3.3m2.4m
43 1.8m1.2m2.0m3.6m4.9m1.1m2.2m2.7m1.4m1.4m1.5m2.3m--334,987419,888146,072614,131298,463169,500
430/8 1.8m1.2m2.0m3.6m3.0m1.1m2.2m2.7m1.4m1.4m1.5m2.3m--334,987107,42088,104563,328--
439 ----1.9m----------312,46857,96850,803298,463169,500
44 1.6m2.3m2.3m1.9m3.0m2.0m1.6m805,0231.2m1.6m1.9m2.1m1.6m1.3m1.2m91,538278,957716,8393.0m2.2m
440/4 1.6m2.3m2.3m1.9m3.0m2.0m1.6m805,0231.2m1.6m1.9m2.1m1.6m1.3m1.2m91,538278,957716,8393.0m2.2m
45 37,62160,133129,226100,483107,92922,039133,888145,819180,18645,63938,81716,18643,41213,37128,71312,61811,88114,66613,6659,201
450/3 11,90934,278103,79278,85480,6862,305108,378122,154156,20925,94721,0612,09033,8093,81119,8171,6581,3805,1995,167842
454/9 25,71125,85525,43421,62927,24419,73425,51023,66523,97719,69217,75614,0969,6049,5608,89610,96110,5019,4678,4988,359
47/48 800,000808,869805,9741.0m529,671155,05279,000355,212-1.2m-200,000------50,000-
492/3 5,52040,37118,14636,83216,90320,7354,9905,2233,00915,4361,6131,97460,2661884713,5813,47256115,045596
Income statement
70/76A 13.9m14.7m12.2m19.7m17.0m8.9m9.1m11.8m8.6m7.5m7.6m9.0m4.2m3.3m3.2m2.8m3.0m5.7m6.1m2.7m
70 13.8m14.7m12.2m19.7m17.0m8.9m9.1m11.6m8.5m7.4m7.4m9.0m4.2m3.2m3.2m2.7m2.9m5.7m6.1m2.6m
74 97,6531,39627020,45439,917---------------
60/66A 12.7m13.3m10.8m18.4m14.4m8.8m8.5m10.5m7.9m7.1m7.4m8.6m4.0m3.1m2.9m2.6m2.7m5.4m5.6m2.6m
60 11.9m12.5m10.0m17.5m13.6m8.3m7.8m9.8m7.2m6.7m6.8m8.2m3.8m2.9m2.7m2.5m2.6m5.0m5.4m2.5m
600/8 12.4m12.4m7.7m15.4m18.1m7.5m9.6m9.8m7.0m7.1m5.5m10.4m4.2m3.4m3.2m2.1m2.6m3.8m6.2m3.4m
609 -541,49170,7202.3m2.1m-4.5m719,690-1.9m39,536242,964-421,9021.3m-2.2m-420,564-484,074-493,751317,12930,4351.2m-804,012-967,437
61 609,289549,775532,229693,048591,837311,474444,854506,814419,897361,247307,138276,00098,800100,944115,67694,597112,519312,641214,56261,228
62 223,196225,603203,286209,139205,969212,810233,621238,010259,815181,131181,255123,84295,20494,69688,89483,09974,32470,70360,42859,458
630 ----------4,0091,212----148780780780
631/4 ----18,138-5,96824,106--5,5224,553-104,44991,98211,863740834-843-1,581-32,10212,300-23,86646,092
640/8 2969411,608-225871,1486,9562,9062,91212,55848089899328989898913,032
66A ---49------5,881-25551,007-----
9901 1.2m1.5m1.4m1.3m2.6m109,003668,6751.2m689,031426,646256,707332,625203,952128,440270,890120,330224,136249,381512,99921,037
75/76B 291,389178,782267,348644,550196,608205,44181,269160,386172,209201,76161,08669,72936,683101,87292,487108,320192,30665,392243,65765,997
75 291,389178,782267,348644,550196,608205,44181,269160,386172,209201,76161,08669,72936,683101,87292,487108,320192,30665,392243,65765,997
751 9,22629,23315,264-----------------
752/9 282,162149,548252,084644,550196,608205,44181,269160,386172,209201,76161,08669,72936,683101,87292,487108,320192,30665,392243,65765,997
65/66B 428,735348,819318,102814,530211,030196,876148,608156,429205,654267,475113,374112,31581,86861,789117,521123,412185,382167,506183,27850,439
65 428,735348,819318,102814,530211,030196,876148,608156,429205,654267,475113,374112,31581,86861,789117,521123,412185,382167,506183,27850,439
650 36,12299,721111,605118,89621,55232,28733,25518,39019,73814,97926,23612,3791,2942,9021,6515,2977,29936,09016,136314
652/9 392,612249,098206,498695,634189,479164,589115,353138,039185,916252,49687,13899,93680,57358,887115,870118,115178,083131,416167,14350,125
9903 1.0m1.3m1.4m1.2m2.6m117,568601,3351.2m655,586360,932198,538290,039158,742168,468244,848105,238231,060147,267573,37736,595
67/77 259,654323,047349,221293,841617,64044,458180,927368,555227,445119,87662,67889,62544,40749,14274,11626,38967,69345,396191,8059,685
670/3 261,981323,485349,352293,841622,78544,458180,927368,555227,445119,87662,69889,62544,40749,14274,11626,41467,69345,396191,84710,083
77 2,327438131-5,146-----19----26--42397
9904 783,497957,3641.0m875,5922.0m73,110420,408866,000428,140241,056135,860200,414114,335119,327170,73378,849163,366101,872381,57226,910
789 732,540281,240----------607----12,500--
689 ----732,54013,446281,240-------607-----
9905 1.5m1.2m1.0m875,5921.2m59,664139,168866,000428,140241,056135,860200,414114,941119,327170,12678,849163,366114,372381,57226,910
Appropriation of the result
9906 5.1m4.7m4.3m4.2m3.7m2.5m2.5m3.1m2.3m1.9m1.6m1.5m1.3m1.2m1.0m870,177791,327627,961563,589182,017
14P 3.6m3.5m3.2m3.4m2.5m---------------
691/2 732,540281,240---27,804--------------
6920 -----27,804--------------
6921 732,540281,240------------------
694/7 800,000808,869805,9741.0m355,6715,052-805,212----------50,000-
694 800,000800,000800,0001.0m348,140--800,000----------50,000-
696 -8,8695,9744,4767,5315,052--------------
Social balance sheet
9087 222222.432.93.12.93211111111
Men (FTE)1003 22-2---2222111------
Women (FTE)1003 -0-----0.91.10.911--------
Hours worked1013 3,1543,2283,3023,1543,3443,5074,3614,3375,1563,9393,9682,0221,5921,6421,6051,6551,6471,6501,6401,627
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 5 older financial years (2001-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 25 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 12-06-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 12-06-2026 2026-00157432 PDF
31-12-2024 full format 19-06-2025 2025-00167346 PDF
31-12-2023 full format 12-06-2024 2024-00139764 PDF
31-12-2022 full format 16-06-2023 2023-00131636 PDF
31-12-2021 full format 29-06-2022 2022-20148550 PDF
31-12-2020 full format 08-07-2021 2021-33700305 PDF
31-12-2019 full format 08-06-2020 2020-15400261 PDF
31-12-2018 full format 07-06-2019 2019-17300455 PDF
31-12-2017 full format 19-06-2018 2018-20600153 PDF
31-12-2016 full format 04-05-2017 2017-11300526 PDF
31-12-2015 full format 12-05-2016 2016-12300455 PDF
31-12-2014 full format 12-05-2015 2015-11900581 PDF
31-12-2013 full format 12-05-2014 2014-12100444 PDF
31-12-2012 full format 27-05-2013 2013-13300359 PDF
31-12-2011 full format 10-05-2012 2012-11300590 PDF
31-12-2010 full format 16-05-2011 2011-11800133 PDF
31-12-2009 full format 20-05-2010 2010-12300189 PDF
31-12-2008 full format 27-05-2009 2009-17200264 PDF
31-12-2007 full format 20-05-2008 2008-15900083 PDF
31-12-2006 full format 23-05-2007 2007-15900186 PDF
31-12-2005 full format 31-05-2006 2006-18005036 PDF
31-12-2004 full format 03-06-2005 2005-20401660 PDF
31-12-2003 full format 07-06-2004 2004-20405200 PDF
31-12-2002 full format 04-06-2003 2003-20204683 PDF
31-12-2001 full format 20-06-2002 2002-24501138 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
----------260,715333,837----224,284250,161513,77921,817
----------139,869201,626----163,514102,652382,35327,691
-----------18,83124,052----141965-35,1191,897
-586,056549,939-434,242262,788253,754140,188-123,844158,003-359,780181,85565,391-84,798128,799-377,954-209,906488,798186,171-557,420157,506-
5.0m5.1m4.9m4.7m4.8m3.2m2.8m2.4m2.4m1.9m1.7m1.5m1.4m1.2m1.1m938,137852,229685,945598,741216,822
8.6%9.9%11.7%6.8%15.2%1.2%7.3%10.6%8.2%5.8%3.5%3.7%4.9%4.1%8.5%4.4%7.6%4.4%8.4%0.8%
53.9%53.5%48.4%41.3%35.8%49.3%41.0%37.8%45.8%31.5%32.5%25.0%44.1%49.0%41.7%64.0%66.1%34.1%15.0%9.9%
2.172.171.951.711.561.981.701.611.851.471.481.331.861.951.712.792.951.511.181.09
1.151.291.200.770.590.830.600.950.890.770.770.520.871.031.262.391.741.110.650.71
0.860.871.071.421.791.031.441.651.182.172.083.011.271.041.400.560.511.935.669.15
15.7%19.1%21.2%18.9%40.9%2.3%14.9%35.9%18.2%12.6%8.1%13.0%8.5%9.7%15.4%8.4%19.0%14.6%64.2%10.2%
8.4%10.2%10.2%7.8%14.7%1.1%6.1%13.6%8.3%4.0%2.6%3.2%3.8%4.8%6.4%5.4%12.6%5.0%9.6%1.0%
----------9.9426.97----30.736.9331.8469.47
118 days79 days127 days74 days96 days91 days82 days102 days93 days122 days103 days70 days87 days113 days133 days63 days60 days75 days88 days137 days
47 days63 days78 days37 days77 days83 days72 days29 days58 days80 days100 days89 days150 days152 days152 days13 days38 days49 days195 days323 days

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Social balance sheet

Item31-12-202531-12-202431-12-202331-12-202231-12-2021
Employees at the balance-sheet date22222
full-time22222
part-time-0---
in full-time equivalents22222
22222
On a permanent contract22222
Joined-0---
Left-0---

Source: social balance sheet in the 2021 to 2025 annual accounts

Auditor

fees
Item20252024202320222021
Fee for the audit€7,275€7,050€7,050€6,150€5,850

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Insights on COTITEX

The operating result for 2025 is 19% lower than in 2024 and the lowest since 2020.

Debt's share of the balance-sheet total falls from 46.5% to 46.1%. Equity and debt are lower.

Board & ownership

Board

1 director, 3 in day-to-day management, 1 auditor, last change in September 2026

Deed of 07-09-2026Reappointment: SRL Michel Weber, Réviseur d'Entreprise (statutory auditor)General meeting of 21-05-2026

KANDIYOTI Claude
Director
since 22-05-2020 term until 17-05-2029
listed in the 2024 annual accounts, filed on 19-06-2025
KANDIYOTI Igal
Managing director
in office according to the deed of 22-09-2023
KANDIYOTI Ralfi
Managing director
in office according to the deed of 22-09-2023
VAN DER CRUYSSEN Rony
Managing director
in office according to the deed of 22-09-2023
SRL Michel Weber, Réviseur d'Entreprise
Statutory auditor, permanent representative Michel Weber
appointed by deed of 23-09-2020
KANDIYOTI Igal, KANDIYOTI Ralfi, VAN DER CRUYSSEN Rony
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Two directors jointly
deed of 13-04-2018

Office holders in the KBO →

Mandates through the years

5 names, the dashed line is today
KANDIYOTI Claude
Director
KANDIYOTI Igal
Managing director
KANDIYOTI Ralfi
Managing director
VAN DER CRUYSSEN Rony
Managing director
SRL Michel Weber, Réviseur d'Entreprise
Statutory auditor
LeadershipBoardRest of the term
Mandates as a list
  • KANDIYOTI Claude
    • Director, from 22-05-2020 to date
  • KANDIYOTI Igal
    • Managing director, from 28-03-2018 to date
  • KANDIYOTI Ralfi
    • Managing director, from 28-03-2018 to date
  • VAN DER CRUYSSEN Rony
    • Managing director, from 28-03-2018 to date
  • SRL Michel Weber, Réviseur d'Entreprise
    • Statutory auditor, from 03-05-2017 to date

See the board, name and registered office on a given date →

Control

Parent
K FINANCE COORDINATION & SERVICES
Equity €104.0m
Profit €8.9m in 2025 (profit €3.6m in 2024)
75%
This company
COTITEX
Equity €5.0m
Profit €783,497 in 2025

Further up the chainK FINANCE COORDINATION & SERVICES S.A. consolidates

and 2 other shareholders

Capital

Capital
€340,040
Shares
676 in the 2025 annual accounts
Contribution per share
€503
Equity per share
€7,395 in 2025
Source
deed of 01-03-2021

Owners through the years

as the annual accounts name them
K FINANCE COORDINATION & SERVICES
consolidates75%
75%
DERVARO
25%
25%
Owners as a list

Source: parent in its own accounts, lists of holdings in the owners' accounts

Articles of association

DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 13-04-2018 (in French)
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 3 directors
“COMPOSITION DU CONSEIL D'ADMINISTRATION, 6 ans”
deed of 01-03-2021 (in French)
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Thursday of May at 14:00
deed of 01-03-2021 (in French)
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“En cas de dissolution pour quelque cause et à quelque moment que ce soit, à défaut de nomination, dans le respect des conditions prévues à…”
“L'assemblée générale détermine, le cas échéant, les émoluments du ou des liquidateurs, pouvoirs les plus étendus conférés par le Code des…”
deed of 01-03-2021 (in French)

Shareholders

3 owners

Owners 3

Capital transactions

Shareholders according to the deeds
After the capital increase deed of 01-03-2021 ↗
  • K FINANCE COORDINATION & SERVICES 42 shares · €208,350 in cash
  • DERVARO 14 shares · €69,510 in cash
Stated in the deed deed of 16-10-2020 ↗
  • CHEMITEX (UK) LIMITED 99.8%
Capital over time
  1. 01-03-2021 Capital increase of €278,040 · to €340,040 · 56 new shares, 8.3% of the 676 shares after the increase · in cash
  2. 16-10-2020 Capital stated in the deed · €62,000 · 620 shares

Network & group

Group

K FINANCE COORDINATION & SERVICES has 5 holdings (2025 accounts), the bar shows equity in euros
ParentK FINANCE COORDINATION & SERVICES5 holdings, 1 country 2025 accounts

Belgium 5 Equity Result

  • BE COTITEX75% €5.0m result €783,497
  • BE CHEMITEX99.92% €86.3m result €1.1m
  • BE BELGIAN LAND17.85% €26.7m result -€2.7m
  • BE ADMIRO98% €6.0m result €65,941
  • BE TEX DEVELOPMENT €2.3m result €31,775

Source: list of holdings in the 2025 accounts of K FINANCE COORDINATION & SERVICES. Every holding stands with its own latest accounts.

At the same address

Louizalaan 221, 1050 Brussels · 44 other companies
K FINANCE COORDINATION & SERVICES
registered office since 04-08-1993 · founded in 1992
 turnover €2.0m (2025)
0448.586.002
Chemitex
registered office since 01-12-1970 · founded in 1970
 17 FTE (2025)
0407.685.456
KREST REAL ESTATE INVESTMENTS
registered office since 24-03-2011 · founded in 2011
 total assets €108.6m (2025)
0834.802.289
VANCLO INVEST
registered office since 28-11-2007 · founded in 2007
 total assets €56.7m (2025)
0893.924.383
RALIG INVEST
registered office since 28-11-2007 · founded in 2007
 total assets €55.5m (2025)
0893.921.910
SIETH INVEST
registered office since 28-11-2007 · founded in 2007
 total assets €55.4m (2025)
0893.925.175
Admiro
registered office since 01-05-1972 · founded in 1972
 3 FTE (2025)
0412.443.010
KREST & C°
registered office since 18-02-2022 · founded in 2022 · group KREST REAL ESTATE INVESTMENTS
 total assets €24.5m (2026)
0782.331.625
KREST 2
registered office since 19-06-2012 · founded in 2012 · group KREST REAL ESTATE INVESTMENTS
 turnover €331,116 (2025)
0846.689.739
KRKA Belgium
registered office since 26-12-2012 · founded in 2012
 18 FTE (2025)
0508.714.223
and 34 more

Acquisitions and mergers

1 transaction
Took over:CHEMITEX (UK) LIMITED
merger by absorption · proposal · Gazette deed of 16-10-2020

Connections & network

1 current director
Depth

The network starts from the directors of COTITEX. 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

Timeline

39 events since 2001

Deadline for the 2026 accounts: 31-07-2027

2026
Reappointment: SRL Michel Weber, Réviseur d'Entreprise (statutory auditor)General meeting of 21-05-20262 points ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2025 filed PDFfull format · 49 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0473839456
Annual accounts 2024 filed PDFfull format · 42 days before the deadline
2024
Equity above €5m equity €5.0m ▲3.1% Equity rises from €4.9m to €5.0m.
Annual accounts 2023 filed PDFfull format · 49 days before the deadline
2023
1 statutory auditor reappointed, 4 directors reappointedMichel Weber (statutory auditor), KANDIYOTI Igal (managing director), KANDIYOTI Ralfi (managing director), VAN DER CRUYSSEN Rony (managing director) and KANDIYOTI Claude · General meeting of 19-05-20236 points ▸

Open the deed in the Belgian Official Gazette

Annual accounts 2022 filed PDFfull format · 45 days before the deadline
2022
Annual accounts 2021 filed PDFfull format · 32 days before the deadline
2021
Highest result from 2006 to 2025 net €2.0m ▲2,570% The operating result of €2.6m and the net result of €2.0m are both a record.
Annual accounts 2020 filed PDFfull format · 23 days before the deadline
Capital increase of €278,040 to €340,040Capital from €62,000 to €340,040, 56 new shares · Contributions: K FINANCE COORDINATION & SERVICES (€208,350, 42 shares); DERVARO (€69,510, 14 shares) · General meeting of 10-12-20205 points ▸
  • General meeting, 10-12-2020
  • Capital increase, €278,040
  • Capital contribution, €208,350
  • Capital contribution, €69,510
  • Capital, €340,040, 676 shares
  • The deed holds 3 more points.

Open the deed in the Belgian Official Gazette

2020
Merger proposal: COTITEX takes over CHEMITEX (UK) LIMITEDCHEMITEX (UK) LIMITED holds 99.83% of the shares · Board meeting of 27-08-20206 points ▸
  • Board meeting, 27-08-2020
  • CHEMITEX (UK) LIMITED holds 99.83% of the shares
  • Capital, €62,000, 620 shares
  • Capital, GBP 5.000, 5,000 shares
  • Share issue, 5000, 680
  • Accounting effect, 01-07-2020
  • The deed holds 19 more points.

Open the deed in the Belgian Official Gazette

Reappointment: SPRL MICHEL WEBER (statutory auditor)Appointment: Claude KANDIYOTI (director) · General meeting of 22-05-20203 points ▸
  • General meeting, 22-05-2020
  • Auditor reappointment, SPRL MICHEL WEBER
  • Director appointment, Claude KANDIYOTI

Open the deed in the Belgian Official Gazette

Annual accounts 2019 filed PDFfull format · 53 days before the deadline
2019
Annual accounts 2018 filed PDFfull format · 54 days before the deadline
2018
Annual accounts 2017 filed PDFfull format · 42 days before the deadline
1 director resigningChanges of role: KANDIYOTI Igal (chair of the board), KANDIYOTI Ralfi (managing director) and VAN DER CRUYSSEN Rony (managing director) · Resignation: KANDIYOTI Claude Isaac · “Octroyer des prêts et des ouvertures de crédit à des tiers; Accomplir toutes opérations immobilières; Investir…” (deed in French) · General meeting of 28-03-201819 points ▸

Open the deed in the Belgian Official Gazette

2017
Equity above €2m equity €2.3m ▲22.3% With a profit in every financial year since 2006, equity grows to €2.3m.
Annual accounts 2016 filed PDFfull format · 88 days before the deadline
2016
Annual accounts 2015 filed PDFfull format · 80 days before the deadline
2015
Annual accounts 2014 filed PDFfull format · 80 days before the deadline
2014
Annual accounts 2013 filed PDFfull format · 80 days before the deadline
2013
Annual accounts 2012 filed PDFfull format · 65 days before the deadline
2012
Annual accounts 2011 filed PDFfull format · 82 days before the deadline
2011
Equity above €1m equity €1.1m ▲18.2% With a profit in every financial year since 2006, equity grows to €1.1m.
Annual accounts 2010 filed PDFfull format · 76 days before the deadline
2010
Annual accounts 2009 filed PDFfull format · 72 days before the deadline
2009
Annual accounts 2008 filed PDFfull format · 65 days before the deadline
2008
Annual accounts 2007 filed PDFfull format · 72 days before the deadline
2007
Equity above €500,000 equity €594,289 ▲126% With a profit in every financial year since 2006, equity grows to €594,289.
Annual accounts 2006 filed PDFfull format · 69 days before the deadline
2006
Annual accounts 2005 filed PDFfull format
2005
Annual accounts 2004 filed PDFfull format
2004
Annual accounts 2003 filed PDFfull format
2003
Annual accounts 2002 filed PDFfull format
2002
Annual accounts 2001 filed PDFfull format
First establishment Louizalaan 221, Brussels
2001
Incorporation published on 10-02-2001

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

COTITEX was incorporated on 30 January 2001.1 In 2021 the capital was increased by €278,040 to €340,040.2 Turnover grew from €11.6m in 2018 to €13.8m in 2025 and headcount from 2.9 to 2 full-time equivalents.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 01-03-2021
  3. 3National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0473.839.456
VAT number
BE 0473.839.456
Peppol ID
0208:0473839456
Other Peppol ID
9925:BE0473839456
LEI code
5493000T4UPSX64S5042 live in the LEI register
Legal form
Public limited company
Status
Active, normal situation
Founded
30-01-2001
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Third Thursday of May at 14:00
deed of 01-03-2021 (in French)
Peppol
Reachable since 18-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
COTITEX in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 13-04-2018 (in French)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Région de Bruxelles-Capitale”
deed of 01-03-2021 (in French)

Activities

NACEBEL 2025
46160 Agents in the wholesale of textiles, clothing, fur, footwear and leather goods main activity
Joint committees annual accounts 2024
JC 226 White-collar workers in international trade, transport and logistics
Codes under NACEBEL 2008
46160 Wholesale trade main activity
Codes under NACEBEL 2003
51160 main activity
PurposeThe purpose describes the activities the company may carry out under its articles.
“La société peut octroyer des prêts et des ouvertures de crédit à des tiers, sauf dans les cas où cette activité fait l'objet d'une…”
6 activities
  1. La société peut octroyer des prêts et des ouvertures de crédit à des tiers, sauf dans les cas où cette activité fait l'objet d'une réglementation.
  2. La société peut également se porter fort, se porter caution, consentir toutes sortes de sûretés dans le sens le plus large du terme et affecter des immeubles en hypothèque, même dans le cadre de prêts ou d'ouverture de crédit consentis à des tiers.
  3. En particulier, la société peut vendre et acheter, importer et exporter des tissus, des fils (naturels ou synthétiques), de la mercerie, de la bonneterie, de la passementerie, des accessoires et garmitures d'habillement, tels que, bijoux, ceintures, foulards, sacs, objets de cuir divers, bracelets, de vêtements prêts à porter (finis ou semi-finis), chemises, accessoires, articles de cuir véritables et d'imitation, chaussures, etc. Cette énumération est énonciative et non limitative.
  4. La Société a pour objet, tant en Belgique qu'à l'étranger, pour compte propre, pour compte de tiers, en qualité d'agent, de représentant ou de commissionnaire ou en participation avec des tiers, le commerce en général, de gros, demi-gros et de détail, et notamment l'importation, l'exportation, le négoce, la concession, la distribution de tous produits textiles ainsi que la transformation et le finissage des matières.
  5. La société peut investir à court et moyen terme, faire des opérations de bourse, des investissements dans des matières premières, achats et ventes sur le marché des options et plus généralement, effectuer tous placements financiers, toutes opérations de gestion de trésorerie et toutes opérations sur devises, sauf les activités réglementées.
  6. La société peut accomplir toutes opérations immobilières au sens le plus large du terme et notamment acheter, détenir, vendre des immeubles, assurer la gestion de tous biens immcbiliers, intervenir en matière de conseils en réalisation immobilière, assurer ou coordonner la réalisation de projets immobiliers, acheter et vendre tout droit, obligation et titre immobilier, ériger des immeubles, les aménager, les décorer, les prendre ou les donner en location, prendre ou donner des droits d'emphytéose ou de superficie, faire tous travaux en vue de rendre des immeubles rentables, lotir des terrains, créer la voirie nécessaire, constituer des hypothèques, louer ou sous-louer, conclure tous contrats de leasing, etc.
deed of 01-03-2021 (in French)

Registered office and establishments

1 establishment
Establishment Since Unit number
Louizalaan 221 registered office 1050 Brussels 46412 Wholesale of household textiles and bedding 03-04-2002 2.094.628.292

Buildings and parcels at the address

Ground area
1,410 m²
Buildings
1,363 m²
Volume, LiDAR
17,329 m³
Tallest building
32.1 m
Buildings to scale, each on its own parcel
1,363 m², 32.1 m 1,363 m², 32.1 m

Location

registered office establishment The establishment unit on the map
45 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
21807G0129/00W0031,410 m² 1 · 1,363 m² 32.1 m · 1

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