KeyCoTex
ActiveThe file of KeyCoTex contains 2 judicial reorganisation notices, as published in the Belgian Official Gazette.
Summary
The computed 12-month bankruptcy probability is 2.1% (moderate). The 2025 annual accounts show negative equity (-€138,395) and a net result of €45,035. Equity is shrinking by about 8.2% per year across the filed financial years. Its solvency ranks better than 5% of 22,554 sector peers (NACE 47, financial year 2025).
Overview
- Equity
- -€138,395
- Profit
- €45,035
Why 53raises riskJudicial reorganisation on record (2 publications, latest 10-03-2020)Negative equity -€138,395lowers riskSize: total assets €9,454Founded in 2006Show the evidence
Checked score
About 2 in 100 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 47, micro): better than 6% on solvency, 37% on liquidity, 54% on profitability and 76% on growth.
The bankruptcy probability was computed on 25-10-2026 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 72 days after the deadline; the sector median (NACE 47) for financial year 2024 is on the deadline day, and 47% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Back to profitnet €45,035
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is nearly 17 times 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 47, Retail 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 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 91.4% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.1% 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 497,475 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 3,795 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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €72,186 | €62,278 | €55,874 | €55,022 | €52,843 | €40,792 | €40,686 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €9,170 | €9,960 | €15,639 | €8,278 | €14,333 | ▲ 73.1% |
| Gross operating margin9900 | €118,835 | €107,310 | €32,558 | €35,715 | €99,437 | €163,725 | €55,328 | €120,195 | ▲ 117% |
| Operating profit (loss)9901 | €40,963 | €38,432 | -€31,560 | -€28,476 | €36,634 | €107,294 | €6,364 | €105,862 | ▲ 17× |
| Financial income75/76B | - | - | - | €1,993 | €1,006 | €2,376 | €1,262 | €0 | ▼ 100% |
| Recurring financial income75 | €1,490 | €1,532 | €1,801 | €1,993 | €1,006 | €2,376 | €1,262 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €37,632 | €34,258 | €44,275 | €20,657 | €41,630 | ▲ 102% |
| Recurring financial charges65 | €41,396 | €39,922 | €38,591 | €37,632 | €34,258 | €44,275 | €20,657 | €41,630 | ▲ 102% |
| Profit (loss) for the period before taxes9903 | €1,057 | -€105,054 | -€68,349 | -€64,116 | €3,382 | €65,395 | -€13,030 | €64,232 | - |
| Income taxes67/77 | - | - | - | - | - | - | - | €19,198 | - |
| Profit (loss) for the period9904 | €1,057 | -€105,054 | -€68,349 | -€64,116 | €3,382 | €65,395 | -€13,030 | €45,035 | - |
| Profit (loss) for the period to be appropriated9905 | €1,057 | -€105,054 | -€68,349 | -€64,116 | €3,382 | €65,395 | -€13,030 | €45,035 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €739,944 | €587,292 | €504,266 | €414,627 | €382,710 | €282,728 | €205,307 | €9,454 | ▼ 95.4% |
| Fixed assets21/28 | €547,041 | €484,763 | €428,889 | €373,867 | €321,024 | €210,330 | €169,644 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €547,041 | €484,763 | €428,889 | €373,867 | €321,024 | €210,330 | €169,644 | €0 | ▼ 100% |
| Land and buildings22 | - | - | - | €373,867 | €321,024 | €210,330 | €169,644 | €0 | ▼ 100% |
| Current assets29/58 | €192,903 | €102,528 | €75,378 | €40,760 | €61,686 | €72,398 | €35,664 | €9,454 | ▼ 73.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €43,199 | €20,676 | €16,979 | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | - | - | €43,199 | €20,676 | €16,979 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €169,772 | €91,970 | €73,976 | €35,201 | €246 | €36,322 | €18,450 | €6,445 | ▼ 65.1% |
| Other amounts receivable41 | - | - | - | €35,201 | €246 | €36,322 | €18,450 | €6,445 | ▼ 65.1% |
| Cash at bank and in hand54/58 | €23,130 | €10,558 | €1,401 | €5,559 | €18,242 | €14,583 | €235 | €3,009 | ▲ 13× |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €818 | €0 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €739,944 | €587,292 | €504,266 | €414,627 | €382,710 | €282,728 | €205,307 | €9,454 | ▼ 95.4% |
| Equity10/15 | -€1,658 | -€106,712 | -€175,061 | -€239,177 | -€235,795 | -€170,399 | -€183,430 | -€138,395 | ▲ 24.6% |
| Contributions10/11 | €19,398 | €19,398 | - | €19,398 | €19,398 | €19,398 | €19,398 | €19,398 | = |
| Profit (loss) carried forward14 | -€21,056 | -€126,110 | -€194,459 | -€258,575 | -€255,193 | -€189,798 | -€202,828 | -€157,793 | ▲ 22.2% |
| Amounts payable17/49 | €741,602 | €694,003 | €679,327 | €653,804 | €618,505 | €453,128 | €388,737 | €147,850 | ▼ 62.0% |
| Amounts payable after more than one year17 | €684,229 | €631,652 | €623,720 | €607,264 | €550,572 | €379,711 | €330,312 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €607,264 | €550,572 | €379,711 | €330,312 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €56,307 | €61,347 | €54,034 | €45,632 | €67,433 | €71,964 | €57,190 | €146,700 | ▲ 157% |
| Current portion of amounts payable after more than one year42 | - | - | - | €39,792 | €56,693 | €46,807 | €53,397 | €0 | ▼ 100% |
| Trade debts44 | €5,289 | €7,529 | €5,878 | €5,840 | €10,740 | €5,052 | €3,794 | €13,806 | ▲ 264% |
| Suppliers440/4 | - | - | - | €5,840 | €10,740 | €5,052 | €3,794 | €13,806 | ▲ 264% |
| Advances received on contracts in progress46 | - | - | - | - | - | €2,238 | €0 | - | - |
| Other amounts payable47/48 | - | - | - | - | - | €17,868 | €0 | €132,893 | - |
| Accrued charges and deferred income492/3 | - | - | - | €907 | €500 | €1,453 | €1,235 | €1,150 | ▼ 6.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,057 | -€105,054 | -€68,349 | -€64,116 | €3,382 | €65,395 | -€13,030 | €45,035 | - |
| + Depreciation and write-downs630 | €72,186 | €62,278 | €55,874 | €55,022 | €52,843 | €40,792 | €40,686 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €73,243 | -€42,776 | -€12,475 | -€9,094 | €56,226 | €106,188 | €27,656 | €45,035 | ▲ 62.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €69,901 | €0 | €169,644 | - |
| Change in cash | - | -€12,572 | -€9,157 | €4,158 | €12,683 | -€3,659 | -€14,348 | €2,774 | - |
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 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00371999 |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00482332 |
| 31-12-2023 | micro format | 20-06-2025 | 2025-00188895 |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00442359 |
| 31-12-2021 | micro format | 12-08-2022 | 2022-20284371 |
| 31-12-2020 | micro format | 30-08-2021 | 2021-56200308 |
| 31-12-2019 | micro format | 19-10-2020 | 2020-61800080 |
| 31-12-2018 | micro format | 26-08-2019 | 2019-49900013 |
| 31-12-2017 | micro format | 27-08-2018 | 2018-49600236 |
| 31-12-2016 | micro format | 29-08-2017 | 2017-49100475 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Charles-edouard de COOMAN |
|
Owners and capital
Capital and shareholders
- 14-02-2024 Converted to unavailable equity · €19,398.06
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
14-02
Gazette deed
Appointment: Charles-edouard de COOMAN (statutory director)Resignation: Charles-edouard de COOMAN (statutory manager) · Amendment of the articles · Capital conversion9 facts ▸
- General meeting, 31-12-2023
- Amendment of the articles (2 times)
- Capital conversion, “compte de capitaux propres statutairement indisponible” (deed in French)
- Capital
- Director appointment, Charles-edouard de COOMAN (statutory director) (2 times)
- Director resignation, Charles-edouard de COOMAN (statutory manager)
- Director discharge, Charles-edouard de COOMAN
- Registered office clause, “1300 Limal,rue Hubin,6” (deed in French)
- Power of attorney, Olivier WATERKEYN
Show earlier events
About the unread acts
Of the 4 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 25 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
2 establishment units
2 parcels
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25055D0095/00F000 | Wallonia | 5,201 m² | 1 · 108 m² | 8.5 m · 2 |
| 23403G0188/00D000 | Flanders | 1,787 m² | 1 · 141 m² | 8.5 m · 2 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- KEYCOTEX
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région Wallonne, établir ou supprimer sièges administratifs,agences,ateliers,dépôts et succursales en Belgique et à étranger par simple…” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, Article 9” (deed in French)“Fixe ou proportionnelle si rémunéré, Article 11” (deed in French)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “Nominatives, Article 7” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Moitié cédant,moitié acquéreurs proportionnellement nombre acquis, tenus solliciter agrément mêmes formalités” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- 20 June at 19:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Formes prévues pour les modifications aux statuts, assemblée générale” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Dissolution pour quelque cause et à quelque moment que ce soit, désigner un ou plusieurs liquidateurs et déterminer pouvoirs et émoluments” (deed in French)