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DUCOBAT

Active
Private limited companyfounded 20232 yrs activeRue des Francs 3, 4837 Baelen, BelgiumKBO/BCE: BE 1003.824.888
Summary

DUCOBAT has been active since 2023 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €183,673 and a net result of €20,837. Its solvency ranks better than 37% of 14462 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

Checked score

Score 2025
Axes · tick = 2024
Profitability45▲+37
Solvency40▼-19
Growth78
Track record82
Bankruptcy probability, 12 months
0.8% Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days only on tighter terms
Liquidity ample (current ratio 3.31 against 1.06 in 2024; short-term debt: 15.8% and cash: 47.4% of total assets), but 85% 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
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025
Solvency, return and age of the figures
Solvency
15%
Return on assets
1.7%
Age of the figures
15 mo
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 20-01-2026, 11 days ahead of the deadline.
NBB · 2 filings
Deviation from the deadline
2025
11 d early
2024
44 d early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 2 accounts on average 28 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven months
Position in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 22 December 2023, DUCOBAT was incorporated as a Private limited company.1 In 2026 the registered office moved to Baelen.2 The company has filed 2 sets of annual accounts, the latest for fiscal year 2025.3

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 12-05-2026
  3. 3National Bank, annual accounts 2025

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Financials · fiscal year 2025, micro schema

Equity
€183,673▲ 12.8%
2024 · €162,836
Total assets
€1.2m▲ 153%
2024 · €483,572
Net result
€20,837
2024 · -€41,914
Working capital
€446,511▲ 10,581%
2024 · €4,180
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the fiscal year before
favourable unfavourable
Line20242025
Operating result-€33,759-€37,452
Net result-€41,914below the sector's middle half-€20,837within the sector's middle half
Equity€162,836within the sector's middle half-€183,673within the sector's middle half▲ 12.8%
Total assets€483,572within the sector's middle half-€1.2mabove the sector's middle half▲ 153%
Debt€320,736-€1.0m▲ 224%
Working capital€4,180within the sector's middle half-€446,511above the sector's middle half▲ 10,581%
Solvency33.7%within the sector's middle half-15.0%within the sector's middle half▼ 18.6pp
Current ratio1.06within the sector's middle half-3.31above the sector's middle half▲ 2.25
Return on assets (ROA)-8.7%below the sector's middle half-1.7%within the sector's middle half▲ 10.4pp
above within below the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
-€60,000-€40,000-€20,000€0€20,000€40,000Operating result 2024: -€33,759-€33,759Net result 2024: -€41,914-€41,914Operating result 2025: €37,452€37,452Net result 2025: €20,837€20,83720242025-€60,000-€40,000-€20,000€0€20,000€40,000Operating result 2024: -€33,759-€33,800Net result 2024: -€41,914-€41,900Operating result 2025: €37,452€37,500Net result 2025: €20,837€20,80020242025
The operating result returns to profit in 2025: €37,452 after a loss of €33,759 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets €582,161 ▲ 40.7%
Current assets €639,600 ▲ 815%
Equity and liabilities €1.2m
Equity €183,673 ▲ 12.8%
Debt €1.0m ▲ 224%
Debt's share of the balance-sheet total rises from 66.3% to 85.0%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
€47,768▲
2024 · -€10,139
Cash flow
€31,153▲
2024 · -€18,294
Debt to equity
5.65▲
2024 · 1.97
ROE
11.3%▲
2024 · -25.7%
Interest coverage
2.88▲
2024 · -1.24
Debt ≤ 1 year
€193,089▲
2024 · €65,736
Debt > 1 year
€845,000▲
2024 · €255,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 896 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 98% are still going.

  • Small
  • 2 to 5 years old
  • solvency 10 to 30%
  • a profit under 5% of the balance sheet
1.1% went bankrupt
0.7% stopped otherwise
98% still going

A further 0.1% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.8% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to 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% 1.0%
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% 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 896 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
Filed annual accounts As filed with the NBB · 2025 against 2024 · 36 lines
Balance sheet Code20242025
Assets
Total assets20/58€483,572€1.2m▲
Fixed assets21/28€413,656€582,161▲
Tangible fixed assets22/27€400,976€569,481▲
Land and buildings22€400,976€434,515▲
Assets under construction and advance payments27-€134,966
Financial fixed assets28€12,680€12,680=
Current assets29/58€69,917€639,600▲
Amounts receivable within one year40/41€1,692€60,152▲
Trade receivables40-€56,961
Other amounts receivable41€1,692€3,191▲
Cash at bank and in hand54/58€68,225€579,448▲
Equity and liabilities
Total equity and liabilities10/49€483,572€1.2m▲
Equity10/15€162,836€183,673▲
Contributions10/11€204,750€204,750=
Profit (loss) carried forward14-€41,914-€21,077▲
Amounts payable17/49€320,736€1.0m▲
Amounts payable after more than one year17€255,000€845,000▲
Financial debts170/4€255,000€845,000▲
Amounts payable within one year42/48€65,736€193,089▲
Current portion of amounts payable after more than one year42€30,000€30,000=
Trade debts44€34,551€32,706▼
Suppliers440/4€34,551€32,706▼
Other amounts payable47/48€1,186€130,382▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23,620€10,317▼
Other operating charges640/8-€162
Gross operating margin9900-€10,139€47,930▲
Operating profit (loss)9901-€33,759€37,452▲
Financial income75/76B€0€0▼
Recurring financial income75€0€0▼
Financial charges65/66B€8,155€16,615▲
Recurring financial charges65€8,155€16,615▲
Profit (loss) for the period before taxes9903-€41,914€20,837▲
Profit (loss) for the period9904-€41,914€20,837▲
Profit (loss) for the period to be appropriated9905-€41,914€20,837▲
Appropriation of the result
Profit (loss) to be appropriated9906-€41,914-€21,077▲
Profit (loss) brought forward from the previous period14P--€41,914

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23,620€10,317▼ 56.3%
Other operating charges640/8-€162-
Gross operating margin9900-€10,139€47,930▲ 573%
Operating profit (loss)9901-€33,759€37,452▲ 211%
Financial income75/76B€0€0▼ 100%
Recurring financial income75€0€0▼ 100%
Financial charges65/66B€8,155€16,615▲ 104%
Recurring financial charges65€8,155€16,615▲ 104%
Profit (loss) for the period before taxes9903-€41,914€20,837▲ 150%
Profit (loss) for the period9904-€41,914€20,837▲ 150%
Profit (loss) for the period to be appropriated9905-€41,914€20,837▲ 150%
Line20242025Change
Assets
Total assets20/58€483,572€1.2m▲ 153%
Fixed assets21/28€413,656€582,161▲ 40.7%
Tangible fixed assets22/27€400,976€569,481▲ 42.0%
Land and buildings22€400,976€434,515▲ 8.4%
Assets under construction and advance payments27-€134,966-
Financial fixed assets28€12,680€12,680=
Current assets29/58€69,917€639,600▲ 815%
Amounts receivable within one year40/41€1,692€60,152▲ 3,456%
Trade receivables40-€56,961-
Other amounts receivable41€1,692€3,191▲ 88.6%
Cash at bank and in hand54/58€68,225€579,448▲ 749%
Equity and liabilities
Total equity and liabilities10/49€483,572€1.2m▲ 153%
Equity10/15€162,836€183,673▲ 12.8%
Contributions10/11€204,750€204,750=
Profit (loss) carried forward14-€41,914-€21,077▲ 49.7%
Amounts payable17/49€320,736€1.0m▲ 224%
Amounts payable after more than one year17€255,000€845,000▲ 231%
Financial debts170/4€255,000€845,000▲ 231%
Amounts payable within one year42/48€65,736€193,089▲ 194%
Current portion of amounts payable after more than one year42€30,000€30,000=
Trade debts44€34,551€32,706▼ 5.3%
Suppliers440/4€34,551€32,706▼ 5.3%
Other amounts payable47/48€1,186€130,382▲ 10,895%
Line20242025Change
Profit (loss) for the period9904-€41,914€20,837▲ 150%
+ Depreciation and write-downs630€23,620€10,317▼ 56.3%
Operating cash flow (approximation)-€18,294€31,153▲ 270%
Investment in fixed assets (approximation)--€178,822-
Change in cash-€511,223-

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

Next filing, fiscal year 2026, expected by 31-01-2027
2026
12-05
State Gazette act Registered office
Registered-office move · Power of attorney · Director in office4 facts ▸
  • Board meeting, 16-03-2026
  • Registered-office move, Rue des Francs 3 à 4837 Baelen
  • Power of attorney, SRL Financial Way
  • Director in office, Stéphane LESECQUE (director)
20-01
NBB filing Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
Financial Back to profitnet €20,837
Net result €20,837 after one loss-making year.
30-06
Financial Liquidity triplescurrent ratio 3.31
Current ratio from 1.06 to 3.31.
2024
18-12
NBB filing Annual accounts filed
fiscal year 2024 · micro schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts

Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
No directors read yet: 1 of 3 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Baelen · 1 establishment unit since 2023
Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Rue des Francs 34837 Baelen
1 establishment unit
DUCOBAT
Rue des Francs 3, 4837 BaelenReal estate activities
since 20232.353.794.476

Structure & network

Owners and holdings

1 owner

Owners 1

Holdings 0

No holding stated in the accounts, acts or LEI register we read.

According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. 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 fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Similar companies · same sector, comparable size

Of 7,321 companies in this sector we hold annual accounts for 5,390. 3,870 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company details

Identification
Legal formPrivate limited company
Founded22-12-2023
Fiscal year end30-06
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
E-invoicing
Reachable via Peppol
Peppol ID 0208:1003824888
Also 9925:BE1003824888
Registered 15-01-2026

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.