COTUGNO
ActiveSummary
The annual accounts of COTUGNO for fiscal year 2025 show a net loss of 57% of the equity at the start of that year. The 2025 annual accounts show equity of €11,147 and a net result of -€14,856. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 35% of 18537 sector peers (fiscal year 2025). The company has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-98
Solvency42▼-10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.04 against 1.11 in 2024; short-term debt: 83% and cash: 27.8% of total assets), and 83% 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 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
17%
Return on assets
-22.6%
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 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
22 d late
2023
30 d late
2022
30 d late
2021
25 d late
2020
18 d late
2019
32 d early
← 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 12 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€11,147▼ 57.1%
2024 · €26,003
Total assets
€65,626▼ 32.9%
2024 · €97,834
Net result
-€14,856
2024 · €22,542
Working capital
€1,950▼ 74.4%
2024 · €7,629
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€26,567▼ 24.7%€6,894▼ 74.1%-€71,699€22,606-€13,916
Net result€16,927▼ 47.3%€3,039▼ 82.0%-€73,215€22,542-€14,856
Equity€73,637▲ 29.8%€76,676▲ 4.1%€3,461▼ 95.5%€26,003▲ 651%€11,147▼ 57.1%
Total assets€140,364▲ 53.9%€128,987▼ 8.1%€80,391▼ 37.7%€97,834▲ 21.7%€65,626▼ 32.9%
Debt€66,727▲ 93.3%€52,311▼ 21.6%€76,930▲ 47.1%€71,832▼ 6.6%€54,479▼ 24.2%
Working capital€50,523▲ 1.0%€51,285▲ 1.5%-€25,710€7,629€1,950▼ 74.4%
Staff (FTE)2.6▼ 7.1%3.8▲ 46.2%5.2▲ 36.8%5.8▲ 11.5%5▼ 13.8%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €13,916 after €22,606 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €65,626
Fixed assets
€9,197 ▼ 49.9%
Current assets
€56,429 ▼ 29.0%
Equity and liabilities €65,626
Equity
€11,147 ▼ 57.1%
Debt
€54,479 ▼ 24.2%
Debt's share of the balance-sheet total rises from 73.4% to 83.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€2,990▼
2024 · €33,404
Cash flow
-€3,929▼
2024 · €33,339
Current ratio
1.04▼
2024 · 1.11
Debt to equity
4.89▲
2024 · 2.76
ROE
-133.3%▼
2024 · 86.7%
ROA
-22.6%▼
2024 · 23.0%
Interest coverage
-3.66▼
2024 · 32.45
Debt ≤ 1 year
€54,479▼
2024 · €71,832
Income taxes
€223▼
2024 · €225
Staff costs
€250,361▼
2024 · €278,881
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,219 companies that looked in July 2024 the way this one looks now, 3.5% went bankrupt within 24 months and 88% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
3.5%
went bankrupt
7.4%
stopped otherwise
88%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,058 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% | 1.6% |
| 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 74% 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 1,219 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €6,500 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €127,956 | €173,447 | €229,909 | €278,881 | €250,361 | ▼ 10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,851 | €13,197 | €13,240 | €10,797 | €10,927 | ▲ 1.2% |
| Other operating charges640/8 | €1,598 | €1,755 | €1,063 | €1,388 | €9,063 | ▲ 553% |
| Gross operating margin9900 | €162,972 | €195,293 | €172,514 | €313,672 | €256,434 | ▼ 18.2% |
| Operating profit (loss)9901 | €26,567 | €6,894 | -€71,699 | €22,606 | -€13,916 | ▼ 162% |
| Financial income75/76B | - | €267 | €5 | €1,190 | €101 | ▼ 91.6% |
| Recurring financial income75 | - | €267 | €5 | €1,190 | €101 | ▼ 91.6% |
| Financial charges65/66B | €2,849 | €1,113 | €1,254 | €1,029 | €817 | ▼ 20.6% |
| Recurring financial charges65 | €2,849 | €1,113 | €1,254 | €1,029 | €817 | ▼ 20.6% |
| Profit (loss) for the period before taxes9903 | €23,718 | €6,048 | -€72,948 | €22,767 | -€14,633 | ▼ 164% |
| Income taxes67/77 | €6,791 | €3,008 | €267 | €225 | €223 | ▼ 1.1% |
| Profit (loss) for the period9904 | €16,927 | €3,039 | -€73,215 | €22,542 | -€14,856 | ▼ 166% |
| Profit (loss) for the period to be appropriated9905 | €16,927 | €3,039 | -€73,215 | €22,542 | -€14,856 | ▼ 166% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €140,364 | €128,987 | €80,391 | €97,834 | €65,626 | ▼ 32.9% |
| Fixed assets21/28 | €51,413 | €38,216 | €29,171 | €18,374 | €9,197 | ▼ 49.9% |
| Intangible fixed assets21 | - | - | - | - | €1,601 | - |
| Tangible fixed assets22/27 | €51,413 | €38,216 | €29,171 | €18,374 | €7,596 | ▼ 58.7% |
| Plant, machinery and equipment23 | - | - | €1,356 | €1,080 | €804 | ▼ 25.6% |
| Furniture and vehicles24 | €51,413 | €38,216 | €27,815 | €17,294 | €6,792 | ▼ 60.7% |
| Current assets29/58 | €88,951 | €90,771 | €51,220 | €79,461 | €56,429 | ▼ 29.0% |
| Amounts receivable within one year40/41 | €45,802 | €40,819 | €31,413 | €59,017 | €38,162 | ▼ 35.3% |
| Trade receivables40 | €40,193 | €21,773 | €25,133 | €52,412 | €30,731 | ▼ 41.4% |
| Other amounts receivable41 | €5,609 | €19,046 | €6,280 | €6,604 | €7,431 | ▲ 12.5% |
| Cash at bank and in hand54/58 | €42,817 | €46,346 | €14,634 | €16,660 | €18,267 | ▲ 9.6% |
| Deferred charges and accrued income490/1 | €332 | €3,605 | €5,173 | €3,785 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €140,364 | €128,987 | €80,391 | €97,834 | €65,626 | ▼ 32.9% |
| Equity10/15 | €73,637 | €76,676 | €3,461 | €26,003 | €11,147 | ▼ 57.1% |
| Contributions10/11 | €9,300 | €9,300 | €9,300 | €9,300 | €9,300 | = |
| Reserves13 | €64,035 | €67,035 | €67,035 | €67,035 | €67,035 | = |
| Non-distributable reserves130/1 | €12,660 | €12,660 | - | - | - | - |
| Reserves not available under the articles1311 | €12,660 | €12,660 | - | - | - | - |
| Tax-exempt reserves132 | €22,875 | €22,875 | €22,875 | €22,875 | €22,875 | = |
| Distributable reserves133 | €28,500 | €31,500 | €44,160 | €44,160 | €44,160 | = |
| Profit (loss) carried forward14 | €302 | €341 | -€72,874 | -€50,332 | -€65,188 | ▼ 29.5% |
| Amounts payable17/49 | €66,727 | €52,311 | €76,930 | €71,832 | €54,479 | ▼ 24.2% |
| Amounts payable after more than one year17 | €28,046 | €12,826 | - | - | - | - |
| Financial debts170/4 | €28,046 | €12,826 | - | - | - | - |
| Amounts payable within one year42/48 | €38,427 | €39,486 | €76,930 | €71,832 | €54,479 | ▼ 24.2% |
| Current portion of amounts payable after more than one year42 | €19,689 | €15,220 | €12,826 | - | - | - |
| Financial debts43 | €1,322 | - | - | - | - | - |
| Credit institutions430/8 | €1,322 | - | - | - | - | - |
| Trade debts44 | €14,774 | €18,948 | €36,369 | €21,183 | €15,812 | ▼ 25.4% |
| Suppliers440/4 | €14,774 | €18,948 | €36,369 | €21,183 | €15,812 | ▼ 25.4% |
| Taxes, remuneration and social security45 | €1,218 | €5,317 | €14,570 | €14,042 | €9,305 | ▼ 33.7% |
| Taxes450/3 | €910 | - | - | - | - | - |
| Remuneration and social security454/9 | €308 | €5,317 | €14,570 | €14,042 | €9,305 | ▼ 33.7% |
| Other amounts payable47/48 | €1,425 | - | €13,165 | €36,607 | €29,362 | ▼ 19.8% |
| Accrued charges and deferred income492/3 | €254 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,927 | €3,039 | -€73,215 | €22,542 | -€14,856 | ▼ 166% |
| + Depreciation and write-downs630 | €6,851 | €13,197 | €13,240 | €10,797 | €10,927 | ▲ 1.2% |
| Operating cash flow (approximation) | €23,778 | €16,236 | -€59,975 | €33,339 | -€3,929 | ▼ 112% |
| Investment in fixed assets (approximation) | - | €0 | -€4,195 | €0 | -€1,750 | - |
| Change in cash | - | €3,530 | -€31,712 | €2,026 | €1,607 | ▼ 20.7% |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
31-12
Financial
Back to profitnet €22,542
Net result €22,542 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet -€73,215
Net result drops to -€73,215, the lowest in the series; recovery starts the following year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
18-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 18 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 2.76
Current ratio from 1.29 to 2.76; short-term debt falls from €52,514 to €28,485.
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €49,705
Net result €49,705 after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are 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, Grâce-Hollogne · 1 establishment unit since 1999
Ground area
498 m²
Building footprint
133 m²
Parcel 62046A0203/00X003, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue du Charbonnage 52, 4460 Grâce-Hollogne
since 19992.092.728.280
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62046A0203/00X003 | Wallonia | 498 m² | 1 · 133 m² | - |
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 2,606 companies in sector 47551 we hold annual accounts for 1,718. 715 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
Founded08-10-1999
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
47551Retail sale of household furniture
E-invoicing
Reachable via Peppol
Peppol ID
0208:0467018277
Registered
12-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.