COTRABEL
ActiveSummary
COTRABEL has been active since 1997 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €119,187 and a net result of €109,830. Equity is growing by about 3.5% per year across the filed financial years. Its solvency ranks better than 42% of 6,153 sector peers (NACE 46, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
- Equity
- €119,187
- Profit
- €109,830
- Parent
- HET VEER · 100%
- HET VEERDirector · permanent representative VANDOORNE Sophie
- VANDOORNE RikDirector
Why 83raises riskLiquidity: current ratio 0.91, cash €345Size: turnover €664,479, total assets €309,018lowers riskFounded in 1997Figures for financial year 2025 (filed 29-08-2026)Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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): better than 47% on solvency, 17% on liquidity, 95% on profitability and 36% on growth.
The bankruptcy probability was computed on 30-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 22 days after the deadline; the sector median (NACE 46) for financial year 2024 is 3 days before the deadline, and 39% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · full…
- Annual accounts filedfinancial year 2024 · full…
- Annual accounts filedfinancial year 2023 · full…
Financials · financial year 2025, full format
2025 annual accounts filed late (27 days) Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00447126.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 55% above 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.
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 46, Wholesale trade: 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).
Peer companies
Historical observationOf the 31,368 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93.5% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 31,368 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €0.3m | €0.8m | €1.5m | €1.1m | €0.7m | ▼ 39.4% |
| Turnover70 | €0.3m | €0.3m | €0.3m | €0.3m | €0.8m | €1.5m | €1.1m | €0.7m | ▼ 39.4% |
| Other operating income74 | - | - | - | - | - | €122 | - | - | - |
| Operating charges60/66A | - | - | - | €0.3m | €0.7m | €1.4m | €1.0m | €0.5m | ▼ 48.6% |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.1m | €0.6m | €1.0m | €0.7m | €0.3m | ▼ 57.3% |
| Purchases600/8 | - | - | - | €0.1m | €0.5m | €1.0m | €0.8m | €0.3m | ▼ 56.3% |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.02m | €0.02m | -€0.005m | -€0.01m | -€0.01m | ▼ 5.8% |
| Services and other goods61 | - | - | - | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 31.2% |
| Remuneration, social security and pensions62 | - | - | - | - | - | €0.02m | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €302 | €0.001m | €0.001m | €0.001m | €0.006m | €0.03m | ▲ 308% |
| Other operating charges640/8 | - | - | - | €468 | €469 | €0.001m | €0.001m | €0.001m | ▲ 3.0% |
| Operating profit (loss)9901 | €0.008m | €0.02m | €0.009m | €0.006m | €0.08m | €0.2m | €0.1m | €0.2m | ▲ 55.4% |
| Financial income75/76B | - | - | - | €0 | €0 | €253 | €0.001m | - | - |
| Recurring financial income75 | €301 | €0 | €0.004m | €0 | €0 | €253 | €0.001m | - | - |
| Income from financial fixed assets750 | - | - | - | - | - | €251 | €488 | - | - |
| Other financial income752/9 | - | - | - | €0 | €0 | €2 | €14 | - | - |
| Financial charges65/66B | - | - | - | €485 | €434 | €0.001m | €0.002m | €0.001m | ▼ 44.8% |
| Recurring financial charges65 | €0.001m | €482 | €0.001m | €485 | €434 | €0.001m | €0.002m | €0.001m | ▼ 44.8% |
| Debt charges650 | €0.001m | €481 | €0.001m | €481 | €432 | €0.001m | €0.002m | €0.001m | ▼ 44.9% |
| Other financial charges652/9 | - | - | - | €4 | €2 | €2 | - | €1 | - |
| Profit (loss) for the period before taxes9903 | €0.008m | €0.02m | €0.01m | €0.006m | €0.08m | €0.2m | €0.1m | €0.1m | ▲ 56.5% |
| Income taxes67/77 | €0.002m | €0.004m | €0.003m | €0.002m | €0.02m | €0.04m | €0.02m | €0.04m | ▲ 62.9% |
| Taxes670/3 | - | - | - | €0.002m | €0.02m | €0.04m | €0.02m | €0.04m | ▲ 62.9% |
| Profit (loss) for the period9904 | €0.006m | €0.01m | €0.009m | €0.004m | €0.06m | €0.1m | €0.07m | €0.1m | ▲ 54.3% |
| Profit (loss) for the period to be appropriated9905 | €0.006m | €0.01m | €0.009m | €0.004m | €0.06m | €0.1m | €0.07m | €0.1m | ▲ 54.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €128,024 | €132,858 | €111,226 | €80,474 | €359,587 | €394,945 | €530,929 | €309,018 | ▼ 41.8% |
| Fixed assets21/28 | - | - | €2,673 | €3,746 | €2,768 | €51,790 | €78,614 | €135,853 | ▲ 72.8% |
| Intangible fixed assets21 | - | - | €2,673 | €3,746 | €2,768 | €1,790 | €78,614 | €135,853 | ▲ 72.8% |
| Financial fixed assets28 | - | - | - | - | - | €50,000 | - | - | - |
| Affiliated companies280/1 | - | - | - | - | - | €50,000 | - | - | - |
| Amounts receivable281 | - | - | - | - | - | €50,000 | - | - | - |
| Current assets29/58 | €128,024 | €132,858 | €108,553 | €76,728 | €356,820 | €343,155 | €452,314 | €173,164 | ▼ 61.7% |
| Stocks and contracts in progress3 | €3,486 | €3,815 | €893 | €18,275 | - | €4,813 | €17,788 | €31,516 | ▲ 77.2% |
| Stocks30/36 | - | - | - | €18,275 | - | €4,813 | €17,788 | €31,516 | ▲ 77.2% |
| Goods purchased for resale34 | - | - | - | €18,275 | - | €4,813 | €17,788 | €31,516 | ▲ 77.2% |
| Amounts receivable within one year40/41 | €81,502 | €55,737 | €70,568 | €21,044 | €243,252 | €336,019 | €434,058 | €141,303 | ▼ 67.4% |
| Trade receivables40 | - | - | - | €4,094 | €243,252 | €318,931 | €145,962 | €98,809 | ▼ 32.3% |
| Other amounts receivable41 | - | - | - | €16,950 | - | €17,089 | €288,095 | €42,493 | ▼ 85.3% |
| Cash at bank and in hand54/58 | €43,036 | €72,835 | €37,092 | €37,409 | €113,567 | €2,323 | €468 | €345 | ▼ 26.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €128,024 | €132,858 | €111,226 | €80,474 | €359,587 | €394,945 | €530,929 | €309,018 | ▼ 41.8% |
| Equity10/15 | €92,599 | €105,309 | €74,459 | €38,581 | €71,690 | €109,166 | €109,357 | €119,187 | ▲ 9.0% |
| Contributions10/11 | €20,000 | €20,000 | €0 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €72,599 | €85,309 | €54,459 | €18,581 | €51,690 | €89,166 | €89,357 | €99,187 | ▲ 11.0% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Distributable reserves133 | - | - | - | €16,581 | €49,690 | €89,166 | €89,357 | €99,187 | ▲ 11.0% |
| Amounts payable17/49 | €35,425 | €27,549 | €36,767 | €41,893 | €287,898 | €285,779 | €421,572 | €189,831 | ▼ 55.0% |
| Amounts payable within one year42/48 | €35,425 | €27,549 | €36,767 | €41,893 | €287,898 | €285,779 | €421,572 | €189,831 | ▼ 55.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €20,000 | €50,000 | €25,000 | - | - |
| Trade debts44 | €28,759 | €20,860 | €24,036 | €38,098 | €230,679 | €160,779 | €390,775 | €123,901 | ▼ 68.3% |
| Suppliers440/4 | - | - | - | €38,098 | €230,679 | €160,779 | €390,775 | €123,901 | ▼ 68.3% |
| Taxes, remuneration and social security45 | - | - | - | €3,795 | €37,218 | - | €5,797 | €65,931 | ▲ 11× |
| Taxes450/3 | - | - | - | €3,795 | €37,218 | - | €5,797 | €65,931 | ▲ 11× |
| Other amounts payable47/48 | - | - | - | - | - | €75,000 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,030 | €12,711 | €9,150 | €4,122 | €58,109 | €112,476 | €71,191 | €109,830 | ▲ 54.3% |
| + Depreciation and write-downs630 | - | - | €302 | €843 | €978 | €978 | €6,350 | €25,921 | ▲ 308% |
| Operating cash flow (approximation) | €6,030 | €12,711 | €9,451 | €4,965 | €59,087 | €113,454 | €77,541 | €135,750 | ▲ 75.1% |
| Investment in fixed assets (approximation) | - | - | - | -€1,915 | €0 | -€50,000 | -€33,175 | -€83,160 | ▼ 151% |
| Change in cash | - | €29,799 | -€35,742 | €317 | €76,158 | -€111,245 | -€1,854 | -€123 | ▲ 93.4% |
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 27 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 27-08-2026 | 2026-00447126 |
| 31-12-2024 | full format | 28-08-2025 | 2025-00443464 |
| 31-12-2023 | full format | 29-08-2024 | 2024-00420264 |
| 31-12-2022 | full format | 31-08-2023 | 2023-00419041 |
| 31-12-2021 | full format | 26-08-2022 | 2022-20380217 |
| 31-12-2020 | full format | 13-07-2021 | 2021-35400503 |
| 31-12-2019 | full format | 03-09-2020 | 2020-51100066 |
| 31-12-2018 | full format | 28-08-2019 | 2019-55800449 |
| 31-12-2017 | full format | 30-07-2018 | 2018-39800246 |
| 31-12-2016 | full format | 21-08-2017 | 2017-44900524 |
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
Board 2
Permanent representatives 1
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| HET VEER |
|
| VANDOORNE Rik |
|
Owners and capital
Owners
1 ownerChain of control
- HET VEER
- COTRABEL
Highest known parent: HET VEER. The sources do not say who stands above it.
Owners 1
- HET VEERparentSourceaccounts HET VEER 2025100%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- 05-02-2024 Converted to unavailable equity
- 05-02-2024 Converted to uncalled contributions
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
05-02
Gazette deed
Resignation: VANDOORNE Rik (manager)Appointments: VANDOORNE Rik (director) and HET VEER (director) · Permanent representative: VANDOORNE Sophie · Legal-form conversion14 facts ▸
- General meeting, “buitengewone algemene vergadering van de aandeelhouders” (deed in Dutch)
- Legal-form conversion, “besloten vennootschap (BV)” (deed in Dutch)
- Purpose change
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Capital conversion, “eigen vermogensrekening 'niet-opgevraagde inbrengen'” (deed in Dutch)
- Reserve release, “statutair onbeschikbare eigen vermogensrekening, opheffen” (deed in Dutch)
- Amendment of the articles
- Capital
- Director resignation, VANDOORNE Rik (manager)
- Director appointment, VANDOORNE Rik (director)
- Director appointment, HET VEER (director)
- Permanent representative, VANDOORNE Sophie
- +2 further facts in this act
06-07
Gazette deed
Registered officeRegistered-office move2 facts ▸
- Board meeting, 16-12-2021
- Registered-office move, Moorstraat 24,9850 Deinze
Show earlier events
About the unread acts
Of the 3 Belgian Official Gazette deeds we know for this company, 2 have been read. The other one 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 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice, with enterprise number 0462.035.447
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 |
|---|---|---|---|---|
| 44030C0392/00H000 | Flanders | 3.1 ha | 1 · 1.1 ha | 9.9 m · 2 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het uitoefenen van informatica en aanverwante activiteiten, vooral de realisatie van programma’s en gebruiksklare systemen; Het leveren van…” (deed in Dutch)
23 activities (deed in Dutch)
- Het uitoefenen van informatica en aanverwante activiteiten, vooral de realisatie van programma’s en gebruiksklare systemen
- Het leveren van administratieve, commerciële en technische dienstprestaties voor alle takken van handel
- Nijverheid, fabricage, bouw, afbraak, vervoer, distributie, enzovoort
- Onderneming voor het plaatsen van verlichting, drijfkracht, telefoon en condensatoren
- Aankoop en verkoop, huur en verhuur van alle aanverwante roerende goederen inzake verlichting, drijfkracht, telefoon en condensatoren
- Tussenpersoon in de handel zowel voor import als export
- Dienstverlening en het management in het algemeen
- Het geven van adviezen allerhande
- De aan- en verkoop van allerlei roerende goederen, alsmede binnenhuisinrichtingen alle daarmee verband houdende voorwerpen en activiteiten, zowel in het groot als in het klein. Het huren en verhuren, het in leasing geven en nemen van alle mogelijke roerende en onroerende goederen, alsmede de herstelling en het onderhoud van deze goederen
- Het uitbaten van groot- en kleinhandel, de invoer en uitvoer van meubelen en aanverwanten, tapijten, huisraad, huishoudartikelen, textiel, lederwaren en allerlei non-food artikelen
- Het patrimonium gevormd door de inbrengsten en grotendeels bestaande uit onroerende goederen te behouden, te beheren en oordeelkundig uit te breiden. Binnen het kader van haar voorwerp zal de vennootschap mogen overgaan tot het aankopen, opschikken, uitrusten, valoriseren, bouwen, verhuren of in huur nemen van onroerende goederen, al dan niet gemeubeld en eveneens verhuren van rollend materiaal
- Alle immobillaire operaties of er mede verband houdende verrichtingen te doen met name aankoop, verkoop, ruilen, verhuring, expertise, beheer, onroerende promotie, omvorming of ombouwing en valorisatie van onroerende goederen van alle aard, zo gronden als gebouwen, zo op het platte land als in bebouwde kommen, in voorkomend geval bij middel van lotisering, verkaveling, nieuwbouw, heropbouw of verbouwing, voorts het kopen, verkopen en ruilen van alle welkdanige aandelen, delen en andere maatschappelijke rechten, obligaties en in het algemeen van alle roerende waarden
- Het verlenen van persoonlijke als zakelijke, roerende als onroerende waarborgen ten voordele van derden
- Alle financiële verrichtingen onder welke vorm van lening, kredietopening of andere wijze, met uitzondering van de financiële verrichtingen voorbehouden aan depositobanken en private spaarkassen, en onder voorwaarde van het bekomen van eventuele noodzakelijke machtigingen en aanvaardingen
- Alle roerende materialen en installaties kopen, huren, verhuren, produceren, oprichten, verkopen en ruilen, en alle daden en transacties stellen die tot de verwezenlijking van het voorwerp kunnen bijdragen
- De handel de vervaardiging en de montage van alle materialen die gebruikt worden bij elektrische installaties. Het vervaardigen, het monteren en de handel in alle metalen constructies
- Alle verrichtingen die rechtstreeks of onrechtstreeks betrekking hebben op het oordeelkundig beheer van een onroerend patrimonium, alsook van een roerend patrimonium doch dit slechts voor eigen rekening
- Het waarnemen van bestuurdersmandaten in andere vennootschappen
- De vennootschap mag samenwerken met of deelnemen in, of op gelijk welke wijze, rechtstreeks of onrechtstreeks, belangen nemen in ondernemingen van allerlei aard, alle verbintenissen aangaan, onroerende goederen kopen en verkopen, kredieten en leningen aangaan en toestaan, zich voor derden borg stellen door haar goederen in hypotheek of in pand te geven
- De vennootschap mag alle industriële en handelsverrichtingen en verhandelingen van onroerende, roerende of financiële aard uitvoeren die rechtstreeks of onrechtstreeks bij haar voorwerp aansluiten
- Zij mag verrichtingen van roerende en onroerende huur aangaan. De vennootschap mag haar voorwerp verwezenlijken op alle wijzen die zij best geschikt acht, voor eigen rekening of voor rekening van derden, zo in België als in het buitenland. Zij mag deelnemen aan de bedrijvigheid van andere vennootschappen met hetzelfde of verwant voorwerp, door inbreng, fusie of hoe dan ook
- Zij mag haar goederen verpanden tot waarborg van verbintenissen van derden voor wie zij borgstelling willen verlenen
- De vennootschap zal alle burgerlijke, industriële, commerciële, financiële, roerende en onroerende handelingen mogen verrichten in rechtstreeks of onrechtstreeks verband met haar voorwerp, die van aard zijn de verwezenlijking ervan te vergemakkelijken of uit te breiden, en die daartoe noodzakelijk zijn, nuttig of zelfs alleen maar bevorderend
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Vlaams Gewest” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, 1” (deed in Dutch)“Mogelijkheid een deel van deze bevoegdheden te delegeren, enkel de algemene vergadering heeft het recht een nieuwe bestuurder te benoemen” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Op naam” (deed in Dutch)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- One provision in the deed
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- Third Saturday of May at 14:00