DUCOBU IMMO
ActiveSummary
DUCOBU IMMO has been active since 2007 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €300,484 and a net result of €26,705. Equity has been growing by about 10% per year since 2018. Its solvency ranks better than 75% of 1,901 sector peers (NACE 10, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 25-09-2007 Normal situation
- Activity
- Artisanal bread and fresh pastry making NACE 10712and 1 other
- Establishment unit
- 2.165.995.350 1410 Waterloo, since 01-10-2007
- Financial year end
- 31 December
- Peppol
- Reachable since 12-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- €87,149
- ▲ 0.1%
- Turnover
- ≈ €260,000
- estimated
- Profit
- €26,705
- ▲ 4.0%
- Equity
- €300,484
- ▲ 9.4%
- Total assets
- €509,690
- ▼ 7.7%
Score breakdownraises riskSector: Manufacture of food products (NACE 10)Liquidity: current ratio 0.20, cash €2,112lowers riskFounded in 2007Equity €300,484 (59.0% of total assets)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 10, micro). It does better than 73% of them on solvency, 50% on liquidity, 57% on profitability and 56% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 13 days before the deadline. In the sector (NACE 10), the median for financial year 2024 was 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 18 filings
Every figure per financial year
The operating result for 2025 is 0% lower than in 2024.
The turnover shown is an estimate from the gross margin.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €48,678 | €46,646 | €46,536 | €41,436 | €35,035 | €34,607 | €38,505 | €38,574 | ▲ 0.2% |
| Other operating charges640/8 | - | - | - | €4,059 | €3,616 | €3,967 | €4,115 | €4,244 | ▲ 3.1% |
| Gross operating margin9900 | €86,093 | €88,098 | €85,621 | €87,505 | €86,086 | €82,544 | €87,037 | €87,149 | ▲ 0.1% |
| Operating profit (loss)9901 | €33,488 | €37,461 | €35,049 | €42,010 | €47,434 | €43,970 | €44,417 | €44,331 | ▼ 0.2% |
| Financial income75/76B | - | - | - | €828 | €828 | €828 | €828 | €1,020 | ▲ 23.2% |
| Recurring financial income75 | €1,155 | €1,157 | €1,155 | €828 | €828 | €828 | €828 | €1,020 | ▲ 23.2% |
| Financial charges65/66B | - | - | - | €13,767 | €11,574 | €9,828 | €7,866 | €6,402 | ▼ 18.6% |
| Recurring financial charges65 | €20,309 | €18,606 | €15,359 | €13,767 | €11,574 | €9,828 | €7,866 | €6,402 | ▼ 18.6% |
| Profit (loss) for the period before taxes9903 | €14,334 | €20,013 | €20,846 | €29,071 | €36,688 | €34,970 | €37,379 | €38,949 | ▲ 4.2% |
| Income taxes67/77 | €3,312 | €7,131 | €6,374 | €9,062 | €12,035 | €10,939 | €11,703 | €12,244 | ▲ 4.6% |
| Profit (loss) for the period9904 | €11,022 | €12,882 | €14,472 | €20,010 | €24,653 | €24,031 | €25,677 | €26,705 | ▲ 4.0% |
| Profit (loss) for the period to be appropriated9905 | €11,022 | €12,882 | €14,472 | €20,010 | €24,653 | €24,031 | €25,677 | €26,705 | ▲ 4.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €784,728 | €739,985 | €695,269 | €652,173 | €616,802 | €583,135 | €552,386 | €509,690 | ▼ 7.7% |
| Fixed assets21/28 | €782,268 | €737,388 | €690,852 | €649,416 | €614,380 | €579,773 | €541,268 | €502,694 | ▼ 7.1% |
| Tangible fixed assets22/27 | €782,268 | €737,388 | €690,852 | €649,416 | €614,380 | €579,773 | €541,268 | €502,694 | ▼ 7.1% |
| Land and buildings22 | - | - | - | €649,416 | €614,380 | €579,773 | €541,268 | €502,694 | ▼ 7.1% |
| Current assets29/58 | €2,460 | €2,597 | €4,417 | €2,758 | €2,422 | €3,362 | €11,118 | €6,996 | ▼ 37.1% |
| Amounts receivable within one year40/41 | - | €50 | €1,785 | €436 | - | €672 | €8,297 | €1,992 | ▼ 76.0% |
| Trade receivables40 | - | - | - | - | - | €672 | - | €1,992 | - |
| Other amounts receivable41 | - | - | - | €436 | - | - | €8,297 | - | - |
| Cash at bank and in hand54/58 | €1 | €1 | €1 | - | - | - | - | €2,112 | - |
| Deferred charges and accrued income490/1 | - | - | - | €2,322 | €2,422 | €2,691 | €2,821 | €2,892 | ▲ 2.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €784,728 | €739,985 | €695,269 | €652,173 | €616,802 | €583,135 | €552,386 | €509,690 | ▼ 7.7% |
| Equity10/15 | €158,508 | €170,234 | €183,550 | €202,732 | €226,556 | €249,759 | €274,608 | €300,484 | ▲ 9.4% |
| Contributions10/11 | €105,000 | €105,000 | - | €105,000 | €105,000 | €105,000 | €105,000 | €105,000 | = |
| Reserves13 | €38,774 | €51,655 | €66,127 | €86,137 | €110,789 | €134,821 | €160,497 | €187,202 | ▲ 16.6% |
| Non-distributable reserves130/1 | - | - | - | €10,500 | €10,500 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €10,500 | €10,500 | - | - | - | - |
| Distributable reserves133 | - | - | - | €75,637 | €100,289 | €134,821 | €160,497 | €187,202 | ▲ 16.6% |
| Investment grants15 | - | - | - | €11,595 | €10,767 | €9,939 | €9,111 | €8,282 | ▼ 9.1% |
| Amounts payable17/49 | €626,221 | €569,751 | €511,718 | €449,442 | €390,246 | €333,376 | €277,778 | €209,206 | ▼ 24.7% |
| Amounts payable after more than one year17 | €467,027 | €492,703 | €439,337 | €376,053 | €302,615 | €259,166 | €241,968 | €173,982 | ▼ 28.1% |
| Financial debts170/4 | - | - | - | €274,206 | €205,864 | €164,503 | €144,445 | €123,982 | ▼ 14.2% |
| Other amounts payable178/9 | - | - | - | €101,846 | €96,751 | €94,663 | €97,524 | €50,000 | ▼ 48.7% |
| Amounts payable within one year42/48 | €154,919 | €77,048 | €72,382 | €73,389 | €87,631 | €74,210 | €35,810 | €35,224 | ▼ 1.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €66,251 | €68,386 | €50,926 | €27,587 | €27,987 | ▲ 1.5% |
| Financial debts43 | - | - | - | €4,860 | €4,837 | €4,261 | €562 | - | - |
| Credit institutions430/8 | - | - | - | €4,860 | €4,837 | €4,261 | €562 | - | - |
| Trade debts44 | €770 | €283 | €1,224 | €42 | €75 | €482 | €245 | - | - |
| Suppliers440/4 | - | - | - | €42 | €75 | €482 | €245 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,062 | €12,035 | €939 | - | €2,244 | - |
| Taxes450/3 | - | - | - | €2,062 | €12,035 | €939 | - | €2,244 | - |
| Other amounts payable47/48 | - | - | - | €174 | €2,298 | €17,603 | €7,416 | €4,992 | ▼ 32.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,022 | €12,882 | €14,472 | €20,010 | €24,653 | €24,031 | €25,677 | €26,705 | ▲ 4.0% |
| + Depreciation and write-downs630 | €48,678 | €46,646 | €46,536 | €41,436 | €35,035 | €34,607 | €38,505 | €38,574 | ▲ 0.2% |
| Operating cash flow (approximation) | €59,700 | €59,528 | €61,008 | €61,446 | €59,688 | €58,639 | €64,182 | €65,279 | ▲ 1.7% |
| Investment in fixed assets (approximation) | - | -€1,766 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €0 | €0 | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,811 companies had the same profile as DUCOBU IMMO has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of DUCOBU IMMO itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 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.
| 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 17,811 companies, not a prediction for DUCOBU IMMO. 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.
Latest 10 of 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00211044 | |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00213503 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00217683 | |
| 31-12-2022 | full format | 30-06-2023 | 2023-00177952 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20364059 | |
| 31-12-2020 | micro format | 07-07-2021 | 2021-33000591 | |
| 31-12-2019 | micro format | 27-08-2020 | 2020-47200354 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-25500553 | |
| 31-12-2017 | micro format | 29-06-2018 | 2018-25400337 | |
| 31-12-2016 | micro format | 30-06-2017 | 2017-24700549 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 21-11-2023 Converted to unavailable equity · €105,000
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DUCOBU Marc |
|
| SAUVENIER Claire |
|
Articles of association
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant,moitié acquéreurs proportionnellement nombre actions si plusieurs, tous cas cessions entre vifs,onéreux ou gratuit,volontaires…”
Articles of association, deed of 21-11-2023 (in French)
Network & group
DUCOBU IMMO shares no director with another company.
Companies at the same address
2 other companiesConnections & network
2 current directorsThe network starts from the directors of DUCOBU IMMO. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
21-11
Gazette deed
Changes of role: DUCOBU Marc (director) and SAUVENIER Claire (director)Purpose change · Capital conversion · Amendment of the articles14 points ▸
- General meeting, 05-10-2023
- Other provision, “première résolution rapport organe administration, justification détaillée modification proposée à l'objet” (deed in French)
- Purpose change
- Other provision, “troisième résolution adaptation statuts CSA et maintien forme SRL, adapter statuts et conserver forme société à responsabilité limitée” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Amendment of the articles
- Director resignation, DUCOBU Marc (manager)
- Director resignation, SAUVENIER Claire (manager)
- Director appointment, DUCOBU Marc (director (not named in the articles))
- Director appointment, SAUVENIER Claire (director (not named in the articles))
- Director discharge, DUCOBU Marc
- Director discharge, SAUVENIER Claire
- The act holds 2 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25762F0746/00A000 | Wallonia | 258 m² | 1 · 59 m² | 12.2 m · 3 |